City Council and Authorities Concurrent
March 5, 2024

MANAGEMENT, INC
00549606 RS3569479 OFFSITE RECORDS MGMT

STORAGE
General Fund 773.31
Total for Payment No.: 773.31
Payment No: 028676
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 SAN JOSE MAILING 00550430 7272 MAILING COLLEGE BLVD TAXABLE General Fund 84.93 2024-02-02 SAN JOSE MAILING 00550430 7272 MAILING COLLEGE BLVD NONTAX General Fund 327.93 2024-02-02 SAN JOSE MAILING 00550432 7312 MAILING MISSION BLVD TAXABLE General Fund 59.77 2024-02-02 SAN JOSE MAILING 00550432 7312 MAILING MISSION BLVD NONTAX General Fund 300.63 Total for Payment No.: 773.26
Payment No: 028489
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 COMCAST 00549595 11/23/23AC815540065018
2213
FIRE 1990 WALSH AVE General Fund 127.68
2024-01-19 COMCAST 00549595 11/23/23AC815540065018 FIRE 1177 ALVISO ST General Fund 61.87 Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2213
2024-01-19 COMCAST 00549595 11/23/23AC815540065018
2213
PD 601 EL CAMINO REAL General Fund 173.61
2024-01-19 COMCAST 00549595 11/23/23AC815540065018
2213
PD 3992 RIVERMARK PLZ General Fund 29.92
2024-01-19 COMCAST 00549595 11/23/23AC815540065018
2213
SR CNTR 1303 FREMONT ST General Fund 148.20
2024-01-19 COMCAST 00549595 11/23/23AC815540065018
2213
IT 1405 CIVIC CNTR DR Information Technology
Service

46.36 2024-01-19 COMCAST 00549595 11/23/23AC815540065018 2213
CH 1500 WARBURTON AVE Information Technology
Service
184.36
Total for Payment No.: 772.00
Payment No: 028639
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 COMCAST 00550314 12/23/23AC815540065018
2213
FIRE 1990 WALSH AVE General Fund 127.68
2024-02-02 COMCAST 00550314 12/23/23AC815540065018
2213
FIRE 1177 ALVISO ST General Fund 61.87
2024-02-02 COMCAST 00550314 12/23/23AC815540065018
2213
PD 601 EL CAMINO REAL General Fund 173.61
2024-02-02 COMCAST 00550314 12/23/23AC815540065018
2213
PD 3992 RIVERMARK PLZ General Fund 29.92
2024-02-02 COMCAST 00550314 12/23/23AC815540065018
2213
SR CNTR 1303 FREMONT ST General Fund 148.20
2024-02-02 COMCAST 00550314 12/23/23AC815540065018
2213
CH 1500 WARBURTON AVE Information Technology
Service
184.36
2024-02-02 COMCAST 00550314 12/23/23AC815540065018
2213
IT 1405 CIVIC CNTR DR Information Technology
Service

46.36 Total for Payment No.: 772.00
Payment No: 717411
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 MOTOROLA SOLUTIONS INC 00549773 8281336251 Microphone General Fund 352.68 2024-02-02 MOTOROLA SOLUTIONS INC 00549774 8281369057 Radio Chargers General Fund 416.32 Total for Payment No.: 769.00
Payment No: 717355
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 ANDY'S ROOFING CO INC 00550123 4057 TRITON ROOF REPAIR Public Buildings 768.17 Total for Payment No.: 768.17
Payment No: 717370
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 D&M TRAFFIC SERVICES 00550093 94664 Barricade Rental General Fund 745.53 Total for Payment No.: 745.53
Payment No: 028652
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 HI-TECH EMERGENCY VEHICLE

SERVICE INC
00549991 177916 PARTS - V3582 Fleet Operation Fund 723.36 Total for Payment No.: 723.36
Payment No: 717009
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 DIVISION OF THE STATE

ARCHITECT
00549473 13921JAN2024 10% OF 4% CASP FEE TO BE
REMIT
Building Fee Admin
Retainage
720.40
Total for Payment No.: 720.40
Payment No: 716827
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 ANDREW MEROVICH 00549043 1312 Brick Tech General Fund 715.00 Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid Total for Payment No.: 715.00
Payment No: 028397
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 BAY AREA PL SERVICES 00548472 17451 phlebotomist fees General Fund 706.50 Total for Payment No.: 706.50
Payment No: 716842
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 COMBINED SYSTEMS INC. 00548189 INV2303168 SRT launchers General Fund 697.41 Total for Payment No.: 697.41
Payment No: 717229
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 LANGUAGE LINE SOLUTIONS 00548893 11192548 LANGUAGE LINE SVCS DEC 2023 Information Technology Service
691.49
Total for Payment No.: 691.49
Payment No: 716881
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 KELLY'S TRUCK REPAIR 00548447 136343 REPAIR - WO 152902, V2688 Fleet Operation Fund 677.00 Total for Payment No.: 677.00
Payment No: 028642
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 DIANNE ANCONA 00549759 001357-03 BEH HEALTH COUNSEL #6-8 General Fund 675.00 Total for Payment No.: 675.00
Payment No: 717027
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 CA DEPT OF INDUSTRIAL

RELATIONS
00548820 S2020670SJ 1990 WALSH General Fund 675.00
Total for Payment No.: 675.00
Payment No: 716918
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 SHAW HR CONSULTING INC 00548581 010192 Consulting fees General Fund 660.00 Total for Payment No.: 660.00
Payment No: 716917
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 SCP DISTRIBUTORS LLC 00548509 36119342 Granular Algae Out General Fund 511.80 2024-01-12 SCP DISTRIBUTORS LLC 00548510 36119295 Pump Tube/ Ferrules General Fund 130.66 Total for Payment No.: 642.46
Payment No: 028638
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 COAST COUNTIES TRUCK 00549975 01201474P PARTS - V3119 Fleet Operation Fund 80.92 2024-02-02 COAST COUNTIES TRUCK 00549976 01200132P CREDIT PARTS Fleet Operation Fund -117.31 2024-02-02 COAST COUNTIES TRUCK 00549949 01202337P PARTS - STOCK Fleet Operation Fund 747.45 2024-02-02 COAST COUNTIES TRUCK 00549977 01201532P CREDIT PARTS Fleet Operation Fund -78.20 Total for Payment No.: 632.86
Payment No: 716846
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 CRIME SCENE CLEANERS INC 00548188 87950 car 3373 disinfect General Fund 130.00 2024-01-12 CRIME SCENE CLEANERS INC 00548190 88491 disinfect area on franklin General Fund 500.00 Total for Payment No.: 630.00
Payment No: 716924
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 STERICYCLE INC 00548578 8004647667 CCO - RECORDS CENTER General Fund 32.80 2024-01-12 STERICYCLE INC 00548578 8004647667 FINANCE - MUNICIPAL SERVICES General Fund 65.60 2024-01-12 STERICYCLE INC 00548578 8004647667 FINANCE - ACCOUNTING &

PAYROLL
General Fund 65.60
2024-01-12 STERICYCLE INC 00548578 8004647667 HOUSING General Fund 32.80 2024-01-12 STERICYCLE INC 00548578 8004647667 HUMAN RESOURCES General Fund 32.80 2024-01-12 STERICYCLE INC 00548578 8004647667 CITY ATTORNEY'S OFFICE General Fund 32.80 2024-01-12 STERICYCLE INC 00548579 8004928916 CCO - RECORDS CENTER General Fund 45.82 2024-01-12 STERICYCLE INC 00548579 8004928916 FINANCE - MUNICIPAL SERVICES General Fund 91.66 2024-01-12 STERICYCLE INC 00548579 8004928916 FINANCE - ACCOUNTING &

PAYROLL
General Fund 91.66
2024-01-12 STERICYCLE INC 00548579 8004928916 HOUSING General Fund 45.82 2024-01-12 STERICYCLE INC 00548579 8004928916 HUMAN RESOURCES General Fund 45.82 2024-01-12 STERICYCLE INC 00548579 8004928916 CITY ATTORNEY'S OFFICE General Fund 45.82 Total for Payment No.: 629.00
Payment No: 028422
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 GRANITE CONSTRUCTION CO 00548282 2627411 MATERIALS General Fund 617.52 2024-01-12 GRANITE CONSTRUCTION CO 00548282 2627411 ENVIRONMENTAL FEE General Fund 10.91 Total for Payment No.: 628.43
Payment No: 028629
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 BAY AREA PL SERVICES 00549995 19166 phlebotomist fees General Fund 628.00 Total for Payment No.: 628.00
Payment No: 028520
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 TIFCO INDUSTRIES 00548816 71934952 PARTS - SHOP Fleet Operation Fund 623.07 Total for Payment No.: 623.07
Payment No: 717166
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 ALLIED AUTO STORES 00549102 01FD4685 PARTS - V#3370 Fleet Operation Fund 495.52 2024-01-26 ALLIED AUTO STORES 00549205 01FD9046 PARTS - V3518 Fleet Operation Fund 115.74 Total for Payment No.: 611.26
Payment No: 716946
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 WITMER-TYSON IMPORTS INC 00548551 T15236 K9 Kairo October boarding General Fund 239.00 2024-01-12 WITMER-TYSON IMPORTS INC 00548550 T15235 K9 Tank dog boarding September General Fund 361.00 Total for Payment No.: 600.00
Payment No: 717397
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 KENNY TO 00550310 REFUND AR ITEM -
CIT11604RF
General Fund 600.00
Total for Payment No.: 600.00
Payment No: 717395
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 JOHNSTONE SUPPLY 00550138 25-S100968038.001 supplies General Fund 306.25 2024-02-02 JOHNSTONE SUPPLY 00550134 25-S100960094.004 supplies General Fund 283.24 Total for Payment No.: 589.49
Payment No: 716952
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 CARLO CALUPAD 00549599 37054JAN2024 REIMB LG CALIBER RIFLE INSTRUC General Fund 587.98 Total for Payment No.: 587.98
Payment No: 717210
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 HALREC INC 00549262 192823-1 PARTS - V3703 Vehicle Replacement Fund
583.01
Total for Payment No.: 583.01
Payment No: 028570
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 GARDENLAND POWER EQUIPMENT 00549319 1053955 SUPPLIES-TREES General Fund 576.40 Total for Payment No.: 576.40
Payment No: 717089
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 STERICYCLE, INC. 00548704 8005599346 Monthly service Solid Waste Program 71.09 2024-01-19 STERICYCLE, INC. 00548704 8005599346 Monthly service General Fund 499.91 Total for Payment No.: 571.00
Payment No: 028432
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 KEPT COMPANIES 00549044 X-Q133978 ONSITE FLEET VEHICLE WASHING S
Fleet Operation Fund 566.24
Total for Payment No.: 566.24
Payment No: 028438
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 MIDWEST TAPE LLC 00548439 504767294 1241 AD ABK General Fund 50.18 Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 MIDWEST TAPE LLC 00548439 504767294 1241 AD CD General Fund 64.23 2024-01-12 MIDWEST TAPE LLC 00548439 504767294 1241 AD DVD General Fund 248.58 2024-01-12 MIDWEST TAPE LLC 00548439 504767294 1241 AD LANG DVD General Fund 23.71 2024-01-12 MIDWEST TAPE LLC 00548439 504767294 1231 JUV DVD General Fund 143.11 2024-01-12 MIDWEST TAPE LLC 00548439 504767294 1235 JUV DVD General Fund 18.80 Total for Payment No.: 548.61
Payment No: 716869
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 HALREC INC 00548485 192822-2 PARTS - V3592 Vehicle Replacement Fund
495.60
2024-01-12 HALREC INC 00549054 195791-1 PARTS - V3592 COR V548485 Vehicle Replacement Fund
542.10
2024-01-12 HALREC INC 00549055 CM-192822-2-1 CREDIT TO VOID V548485 Vehicle Replacement Fund
-495.60
Total for Payment No.: 542.10
Payment No: 028396
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 BAY AREA DATA SUPPLY 00548267 207845 FINANCE PRINTER REPLACEMENT General Fund 491.06 2024-01-12 BAY AREA DATA SUPPLY 00548267 207845 LABOR - NON TAXABLE General Fund 50.00 Total for Payment No.: 541.06
Payment No: 717261
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 QUINN LIFT 00549257 WO120117804 SERVICE - WO 153846, V3636 Fleet Operation Fund 525.00 Total for Payment No.: 525.00
Payment No: 717069
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 NOR-CAL OVERHEAD INC 00549554 33688487 PD (NO TAX) 001-7745-87600-66
General Fund 330.00
2024-01-19 NOR-CAL OVERHEAD INC 00549550 33733414 PD (NO TAX) 001-7745-87600-66
General Fund 195.00
Total for Payment No.: 525.00
Payment No: 717404
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 MELISSA FRITCHLE 00549752 001732 BEH HEALTH COUNSEL General Fund 525.00 Total for Payment No.: 525.00
Payment No: 028544
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 AIR FILTER SUPPLY INC 00549709 I653314 FILTERS General Fund 190.17 2024-01-26 AIR FILTER SUPPLY INC 00549710 I649687 FILTERS General Fund 329.41 Total for Payment No.: 519.58
Payment No: 028583
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 KINOKUNIYA BOOKSTORES OF
AMERICA CO. LTD
00549421 SJ1999 1241 AD BK General Fund 259.60
2024-01-26 KINOKUNIYA BOOKSTORES OF
AMERICA CO. LTD
00549422 SJ2000 1231 JUV BK General Fund 245.71
Total for Payment No.: 505.31
Payment No: 717464
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 ZORO TOOLS INC. 00550104 INV13614402 Keyway General Fund 502.83 Total for Payment No.: 502.83
Payment No: 716931
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 TIMOTHY TANG 00548729 REFUND AR ITEM -
CEB2301211RF
CITATION CEB23-0121-1 DISMISSE General Fund 500.00
Total for Payment No.: 500.00
Payment No: 717294
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 U.S. ARMOR CORPORATION 00549290 43441 Load Bearing Vest Police Operating Grant Fund
500.00
Total for Payment No.: 500.00
Payment No: 716944
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 WEST-VALLEY MISSION

COMMUNITY
00548915 0007 BRONZE SPONSOR FOR 1ST GEN Deposit Funds. 500.00 Total for Payment No.: 500.00
Payment No: 717049
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 FM COLLEGE 00549073 FMCOLLEGE-0160 TRAINING General Fund 499.00 Total for Payment No.: 499.00
Payment No: 716840
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 00548950 58425 LEGAL SERVICES
Total for Payment No.: 490.00
Payment No: 028424
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 GREEN HALO SYSTEMS 00549040 4623 OPTION 2: 5/1/23 - 4/30/24 Solid Waste Program 483.00 -
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid WAS
Total for Payment No.: 483.00
Payment No: 028575
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 GREEN HALO SYSTEMS 00549829 4667 OPTION 2: 5/1/23 - 4/30/24 WAS
Solid Waste Program 483.00
Total for Payment No.: 483.00
Payment No: 717324
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 MII TRAINING INNOVATIONS, LLC 00550052 18 REGISTRATION YEE TRAFFIC COLL General Fund 475.00 Total for Payment No.: 475.00
Payment No: 716927
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 SUNNYVALE FORD 00548497 229956 PARTS - V3695 Vehicle Replacement Fund

80.21 2024-01-12 SUNNYVALE FORD 00548498 229934 PARTS - V3695 Vehicle Replacement Fund

79.06 2024-01-12 SUNNYVALE FORD 00548456 230146 PARTS - V3302 Fleet Operation Fund 263.54 2024-01-12 SUNNYVALE FORD 00548496 230241 PARTS - V3516 Fleet Operation Fund 40.94 Total for Payment No.: 463.75
Payment No: 717092
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 SUNNYVALE FORD 00548800 CM228957 PARTS - CREDIT Fleet Operation Fund -766.84 2024-01-19 SUNNYVALE FORD 00548801 230229 PARTS - V#3695 Fleet Operation Fund 268.46 2024-01-19 SUNNYVALE FORD 00548802 230337 PARTS - V#3630 Vehicle Replacement Fund
527.07
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 SUNNYVALE FORD 00548807 230338 PARTS - V#3689 Vehicle Replacement Fund
434.84
Total for Payment No.: 463.53
Payment No: 028510
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 R & R INDUSTRIES INC 00548759 659993 SUPPLIES-STREET General Fund 458.52 Total for Payment No.: 458.52
Payment No: 717001
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 SWINGERGS2 LLC 00549406 75605-04 UTILITY
REFUND
UTILITY REFUND General Fund 456.86
Total for Payment No.: 456.86
Payment No: 028656
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 INTERSTATE TRAFFIC CONTROL 00550047 261044 supplies-traffic General Fund 437.33 Total for Payment No.: 437.33
Payment No: 028389
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 INTL FIREFIGHTERS LOCAL 1171 00549274 11/26-23-01/06/24 RETIRED FIRE MEDICAL BENEFITS Payroll Liability&ClearingAcct
429.00
Total for Payment No.: 429.00
Payment No: 717062
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 KELLY-MOORE PAINT CO 00548699 817-00000462182 Paint Supplies General Fund 302.15 2024-01-19 KELLY-MOORE PAINT CO 00548700 816-00000191163 Paint Supplies General Fund 109.61 Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid Total for Payment No.: 411.76
Payment No: 028687
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 UNITED REFRIGERATION INC 00550145 94236766-00 CENTRAL LIB ACTUATOR General Fund 210.65 2024-02-02 UNITED REFRIGERATION INC 00548436 93952672-00 SUPPLIES General Fund 194.27 Total for Payment No.: 404.92
Payment No: 717213
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 HOME DEPOT USA 00549696 783879505 Floor Squeegee General Fund 68.62 2024-01-26 HOME DEPOT USA 00549675 783966021 Digestant General Fund 98.21 2024-01-26 HOME DEPOT USA 00549675 783966021 Wipes General Fund 108.62 2024-01-26 HOME DEPOT USA 00549675 783966021 Cleanser General Fund 47.93 2024-01-26 HOME DEPOT USA 00549675 783966021 Mop Heads General Fund 79.62 Total for Payment No.: 403.00
Payment No: 716922
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 STATE WATER RESOURCES

CONTROL
00548654 WD-0258168 ANL PRMT W STORM 7/2023-6/2024 General Fund 399.00 Total for Payment No.: 399.00
Payment No: 717074
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 PENINSULA UNIFORMS &

EQUIPMENT
00548720 203151 Uniform Equipment General Fund 397.28
Total for Payment No.: 397.28
Payment No: 716854
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 DUNN-EDWARDS CORP 00548526 2011A01458 Paint and supplies General Fund 389.08 Total for Payment No.: 389.08
Payment No: 717125
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 DANIEL BOBIAS 00549545 22520JAN2024 WDO Course at CSU Sacramento Water Utility 228.25 2024-01-26 DANIEL BOBIAS 00549545 22520JAN2024 D4/WDO Renewal Water Utility 155.00 Total for Payment No.: 383.25
Payment No: 717182
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 CHRISTINE M. LAWSON 00549855 39068DEC2023 Travel Reimb Holiday Show 2023 Deposit Funds. 373.02 Total for Payment No.: 373.02
Payment No: 028420
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 GRAINGER 00548676 9942191850 SUPPLIES-TRAFFIC General Fund 17.62 Total for Payment No.: 17.62
Payment No: 028546
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 ALL GUARD ALARM SYSTEMS INC 00549712 S123714 CEMETRY Cemetery 367.50 Total for Payment No.: 367.50
Payment No: 717437
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 STERICYCLE INC 00549942 8005235222 CCO - RECORDS CENTER General Fund 21.45 2024-02-02 STERICYCLE INC 00549942 8005235222 FINANCE - MUNICIPAL SERVICES General Fund 42.90 Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 STERICYCLE INC 00549942 8005235222 FINANCE - ACCOUNTING &

PAYROLL
General Fund 42.90
2024-02-02 STERICYCLE INC 00549942 8005235222 HOUSING General Fund 21.45 2024-02-02 STERICYCLE INC 00549942 8005235222 HUMAN RESOURCES General Fund 21.45 2024-02-02 STERICYCLE INC 00549942 8005235222 CITY ATTORNEY'S OFFICE General Fund 21.45 2024-02-02 STERICYCLE INC 00549944 8005541013 CCO - RECORDS CENTER General Fund 23.96 2024-02-02 STERICYCLE INC 00549944 8005541013 FINANCE - MUNICIPAL SERVICES General Fund 47.93 2024-02-02 STERICYCLE INC 00549944 8005541013 FINANCE - ACCOUNTING &

PAYROLL
General Fund 47.93
2024-02-02 STERICYCLE INC 00549944 8005541013 HOUSING General Fund 23.96 2024-02-02 STERICYCLE INC 00549944 8005541013 HUMAN RESOURCES General Fund 23.96 2024-02-02 STERICYCLE INC 00549944 8005541013 CITY ATTORNEY'S OFFICE General Fund 23.96 Total for Payment No.: 363.30
Payment No: 716859
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 FAST UNDERCAR SANTA CLARA 00548440 697142 PARTS - V3705 Fleet Operation Fund 26.90 2024-01-12 FAST UNDERCAR SANTA CLARA 00548441 697501 PARTS Fleet Operation Fund 103.23 2024-01-12 FAST UNDERCAR SANTA CLARA 00548442 697278 PARTS - V3472 Fleet Operation Fund 309.70 2024-01-12 FAST UNDERCAR SANTA CLARA 00548443 697497 PARTS - V3472 Fleet Operation Fund 103.23 2024-01-12 FAST UNDERCAR SANTA CLARA 00548444 695089 PARTS - CREDIT Fleet Operation Fund -339.00 2024-01-12 FAST UNDERCAR SANTA CLARA 00548475 695707 PARTS - STOCK Fleet Operation Fund 233.97 2024-01-12 FAST UNDERCAR SANTA CLARA 00548494 695358 CREDIT - PARTS Fleet Operation Fund -78.02 Total for Payment No.: 360.01
Payment No: 717083
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 SANTA CLARA WINDUSTRIAL CO 00549118 062961 01 Plumbing Fittings General Fund 358.60 Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid Total for Payment No.: 358.60
Payment No: 717385
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 HELENE ROTHSCHILD 00549719 1 BEH HEALTH COUNSEL General Fund 180.00 2024-02-02 HELENE ROTHSCHILD 00549754 14-FD100 BEH HEALTH COUNSEL General Fund 175.00 Total for Payment No.: 355.00
Payment No: 717315
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 EDWIN ZUNIGA-PEREZ 00550521 39428JAN2024 ICS 300 REIMBURSEMENT General Fund 355.00 Total for Payment No.: 355.00
Payment No: 717438
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 STEVEN R ERNST 00550554 74735-01 UTILITY

REFUNDA
UTILITY REFUND General Fund 352.93
Total for Payment No.: 352.93
Payment No: 717387
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 HOYA OPTICAL LABS OF AMERICA,
INC.
00549803 02666891 NON TAXABLE Water Utility 28.00
2024-02-02 HOYA OPTICAL LABS OF AMERICA,
INC.
00549803 02666891 Prescription Safety Glasses Water Utility 137.11 2024-02-02 HOYA OPTICAL LABS OF AMERICA,
INC.
00549804 02666890 Prescription Safety Glasses Water Utility 143.67 2024-02-02 HOYA OPTICAL LABS OF AMERICA,
INC.
00549804 02666890 NON TAXABLE Water Utility 28.00
Total for Payment No.: 336.78
Payment No: 717356
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 ANITA MAEMONE 00550081 40462JAN2024 Electric Permit BLD24-00130 Building New Dvlpmnt Srvc Fee
230.00
2024-02-02 ANITA MAEMONE 00550081 40462JAN2024 Permit issuance Building New Dvlpmnt Srvc Fee

95.00 2024-02-02 ANITA MAEMONE 00550081 40462JAN2024 Tech Fee - PC BDIV & Permit General Fund 10.95 Total for Payment No.: 335.95
Payment No: 717038
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 D&M TRAFFIC SERVICES 00549100 94595 Aluminum Blank General Fund 330.90 2024-01-19 D&M TRAFFIC SERVICES 00549100 94595 Nitrile Foam General Fund 3.97 Total for Payment No.: 334.87
Payment No: W24162
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 MISSIONSQUARE RETIREMENT 00549273 12/24/23-01/06/24 WT: B2401 401 (A) PLAN CONTRIB Fringe Benefits 330.77 Total for Payment No.: 330.77
Payment No: W24181
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 MISSIONSQUARE RETIREMENT 00550076 01/07/24-01/20/24 WT: B2402 401 (A) PLAN CONTRIB Fringe Benefits 330.77 Total for Payment No.: 330.77
Payment No: 717460
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 W-TRANS 00550203 29042 TRAFFIC ENGINEERING

CONSULTING
Streets and Highways
Capital F
322.50
Total for Payment No.: 322.50
Payment No: 716793
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 NESTOR CAMACHO-CARRILLO 00548563 38248DEC2023 Water Treatment Plant Op Class Water Utility 75.00 2024-01-12 NESTOR CAMACHO-CARRILLO 00548563 38248DEC2023 Mechanical Technologist G1 Water Utility 192.00 2024-01-12 NESTOR CAMACHO-CARRILLO 00548563 38248DEC2023 Water Treatment App Fee G1 Water Utility 50.00 Total for Payment No.: 317.00
Payment No: 716799
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 SASKIA LAGERGREN 00548889 14984DEC2023 CRITICAL CONSID POLICE EXEC General Fund 315.00 Total for Payment No.: 315.00
Payment No: 716801
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 TOM LIU 00548665 24600JAN2024 TRAINING SUPPLIES FOR AOT General Fund 313.24 Total for Payment No.: 313.24
Payment No: 717337
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 JANG, JINYOUNG 00550550 76066-01 UTILITY
REFUND
UTILITY REFUND General Fund 311.04
Total for Payment No.: 311.04
Payment No: 716798
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 SANTA CLARA CO CLERK-

RECORDER
00548515 2432DEC2023 2023/24 QRTRLY RECORDMAPS General Fund 306.00 Total for Payment No.: 306.00
Payment No: 717127
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 GARRETT BROWN 00549544 12028JAN2024 Holiday/Recognition Event Reim Water Utility 150.12 2024-01-26 GARRETT BROWN 00549544 12028JAN2024 Holiday/Recognition Event Reim Sewer Utility 150.12 Total for Payment No.: 300.24
Payment No: 717140
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 CA FRANCHISE TAX BOARD 00550059 01/07/24-01/20/24AL WAGE ATTACHMENT B2402 Payroll Liability&ClearingAcct
300.00
Total for Payment No.: 300.00
Payment No: 716810
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 CA FRANCHISE TAX BOARD 00549281 12/24/23-01/06/24AL WAGE ATTACHMENT B2401 Payroll Liability&ClearingAcct
300.00
Total for Payment No.: 300.00
Payment No: 717054
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 HOME DEPOT USA 00549112 782471924 Urinal mats General Fund 184.25 2024-01-19 HOME DEPOT USA 00549112 782471924 Buckets General Fund 71.91 2024-01-19 HOME DEPOT USA 00548693 781742614 Urinal Mat General Fund 40.94 Total for Payment No.: 297.10
Payment No: 028463
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 SUMMIT UNIFORMS 00548549 6322 stadium uniform name tags General Fund 295.31 Total for Payment No.: 295.31
Payment No: 028624
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 ALL GUARD ALARM SYSTEMS INC 00550485 A759717 MRTC MONTHY RADIO 2/1-2/29/24 Storm Drain 60.00 2024-02-02 ALL GUARD ALARM SYSTEMS INC 00548410 S123474 TRITON - KEYPAD Public Buildings 235.00 Total for Payment No.: 295.00
Payment No: 716787
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 JUSTIN MEAD 00548975 18434DEC2023 SLI SESSION 2 General Fund 292.44 Total for Payment No.: 292.44
Payment No: 717117
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 ZANKER ROAD RESOURCE 00549097 9883 Planters Mix General Fund 290.94 Total for Payment No.: 290.94
Payment No: 028612
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 UNITED REFRIGERATION INC 00549739 94169207-00 HARRIS LASS Public Buildings 287.84 Total for Payment No.: 287.84
Payment No: 717107
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 VERIZON WIRELESS 00548682 9952521266 METER READERS WIRELESS General Fund 285.32 Total for Payment No.: 285.32
Payment No: 717129
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 KYEL RAMOS 00549549 36005JAN2024 WDO Grade 3 Exam Water Utility 100.00 2024-01-26 KYEL RAMOS 00549549 36005JAN2024 Water Treatment PO Class Fees Sewer Utility 179.53 Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid Total for Payment No.: 279.53
Payment No: 716779
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 CARLO CALUPAD 00546716 37054OCT2023 2023 CAHN TRAINING

CONFERENCE
General Fund 279.00
Total for Payment No.: 279.00
Payment No: 716921
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 SMART CITY NETWORKS, L.P. 00549177 070-001-12-2023 IT MONTHLY SVC FEE 12/01-12/31 Deposit Funds. 278.00 Total for Payment No.: 278.00
Payment No: 716886
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 LUZ CHATMAN 00548980 39955DEC2023 REIMB. FOR CONFERENCE TRAVEL
Deposit Funds. 275.80
Total for Payment No.: 275.80
Payment No: 717272
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 SHERRY BASTANI 00549581 40334JAN2024A TRAVEL REIMB MILEAGE TO SF Deposit Funds. 10.74 2024-01-26 SHERRY BASTANI 00549577 40334JAN2024 TRAVEL REIMB TO IMEX 2023 Deposit Funds. 257.52 Total for Payment No.: 268.26
Payment No: 716792
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 METLIFE INDIVIDUAL LONG TERM 00549270 19647956JAN2024 BIWEEKLY PR METLIFE LT B2401 Payroll Liability&ClearingAcct
266.60
Total for Payment No.: 266.60
Payment No: 028569
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 GALE/CENGAGE LEARNING 00549648 83184889 1241 AD BK General Fund 175.91 2024-01-26 GALE/CENGAGE LEARNING 00549649 83185180 1241 AD BK General Fund 89.18 Total for Payment No.: 265.09
Payment No: 717343
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 YE, ZIYI 00550552 84047-02 UTILITY
REFUND
UTILITY REFUND General Fund 264.30
Total for Payment No.: 264.30
Payment No: 716957
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 JUSTIN MEAD 00549597 18434JAN2024 REIMB SLI SESSION 3 General Fund 261.35 Total for Payment No.: 261.35
Payment No: 028407
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 CINTAS FIRE PROTECTION #F44 00548675 0F44807782 14268 FLEET SHOP FIRE EXT SVC Fleet Operation Fund 161.92 2024-01-12 CINTAS FIRE PROTECTION #F44 00548675 0F44807782 RECHARGE , 10# DRY CHEMICAL Fleet Operation Fund 99.39 Total for Payment No.: 261.31
Payment No: 717402
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 LUPE LIMA 00549994 41039 tow fees General Fund 260.03 Total for Payment No.: 260.03
Payment No: 717455
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 UNIQUE TOWING 00549992 00240358 tow fees General Fund 260.03 Total for Payment No.: 260.03
Payment No: 028533
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 WESTERN STATES OIL CO 00548818 485872 FUEL - PD MOTORS BATCH ENTRY Fleet Operation Fund 250.07 Total for Payment No.: 250.07
Payment No: 717028
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 CA EMERGENCY MEDICAL

SERVICES
00548815 EMSA-888-1123 MEDIC RENEWAL - FORD General Fund 250.00 Total for Payment No.: 250.00
Payment No: 717190
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 DANIEL ZAPIEN 00549853 0024 FILMING FOR SOCIAL MEDIA CONTE
Deposit Funds. 250.00
Total for Payment No.: 250.00
Payment No: 717316
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 ERIC LAGERGREN 00550363 12289JAN2024 SLI SESSION 8 General Fund 241.50 Total for Payment No.: 241.50
Payment No: 716879
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 JASON GENTRY 00548319 14568DEC2023 REIMBURSEMENT Rain Gear FY2324
Building New Dvlpmnt
Srvc Fee
238.16
Total for Payment No.: 238.16
Payment No: 717259
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 PRINTS CHARLES REPROGRAPHICS 00549342 114702 ITS PHASE 2 PLANS & SPECS Streets and Highways Capital F
235.19
Total for Payment No.: 235.19
Payment No: 716866
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 GOLDEN GATE TRUCK CENTER 00546831 FA005233627:01 PARTS - CREDIT FA005210995 02 Fleet Operation Fund -1,511.72 2024-01-12 GOLDEN GATE TRUCK CENTER 00547617 FA005237221:01 PARTS - V2938 Fleet Operation Fund 682.03 2024-01-12 GOLDEN GATE TRUCK CENTER 00547814 FA005237222:01 PARTS - V2688 Fleet Operation Fund 73.94 2024-01-12 GOLDEN GATE TRUCK CENTER 00547815 FA005238178:01 PARTS - V2822 Fleet Operation Fund 498.88 2024-01-12 GOLDEN GATE TRUCK CENTER 00548446 FA005239685:01 PARTS - V2824 Fleet Operation Fund 490.92 Total for Payment No.: 234.05
Payment No: 717108
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 VERIZON WIRELESS 00548683 9952529797 FIRE EMS WIRELESS General Fund 230.46 Total for Payment No.: 230.46
Payment No: 717147
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 CA DEPT OF TOXIC SUBSTANCE
CNTRL
00549336 23SM2120 SC POLICE STATION JUL-SEP 2023 Public Buildings 227.52 Total for Payment No.: 227.52
Payment No: 028427
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 IMAGE SALES INC 00547840 0076137-IN Card Printer Ribbon & Supplies General Fund 226.20 Total for Payment No.: 226.20
Payment No: 717148
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 CA DEPT OF TOXIC SUBSTANCE
CNTRL
00549425 23SM2675 Costs incurred July-9/2023 General Fund 224.69 Total for Payment No.: 224.69
Payment No: 717035
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 CONSOLIDATED PARTS INC 00549070 5084616 CITY HALL General Fund 223.71 Total for Payment No.: 223.71
Payment No: 716975
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 ANKUR AGIWAL 00549401 68469-03 UTILITY
REFUND
UTILITY REFUND General Fund 223.06
Total for Payment No.: 223.06
Payment No: 717134
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 TJKM TRANSPORTATION

CONSULTNTS
00549838 0054849 TRANSPORTATION MODELING
UPDATE
Streets and Highways
Capital F
220.00
Total for Payment No.: 220.00
Payment No: 716985
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 HYLAN WEST INC 00549388 24446-12 UTILITY

REFUNDA
UTILITY REFUND General Fund 217.56
Total for Payment No.: 217.56
Payment No: 717428
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 SAFETY-KLEEN SYSTEMS INC 00550044 93426579 HAZ MAT Fleet Operation Fund 217.00 Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid Total for Payment No.: 217.00
Payment No: 717078
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 ROYAL BRASS INC 00548798 00321745 PARTS - STOCK Fleet Operation Fund 173.70 2024-01-19 ROYAL BRASS INC 00548799 00321760 PARTS - V#3640 Fleet Operation Fund 41.49 Total for Payment No.: 215.19
Payment No: 716986
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 IBRAHIM AHMED 00549405 72188-20 UTILITY
REFUND
UTILITY REFUND General Fund 212.12
Total for Payment No.: 212.12
Payment No: 716968
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 SEAN OBRIEN 00549513 40395NOV2023 REIMB PAYMENT OF FLOWERS Cemetery 211.85 Total for Payment No.: 211.85
Payment No: 717451
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 UC REGENTS-UC COOPERATIVE

EXTENSION
00549950 20231220CEP COMPOST BINS-CEP WRKSHP 22-
23 Solid Waste Program 210.00
Total for Payment No.: 210.00
Payment No: 716979
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 CORE BUILDERS(AFFORDABLE

HOUSING LLC)
00549398 65019-10 UTILITY

REFUNDA
UTILITY REFUND General Fund 208.85
Total for Payment No.: 208.85
Payment No: 716915
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 SANTA CLARA MUFFLERS 00548455 8536 PARTS - WO 153807, V3714 Fleet Operation Fund 64.38 2024-01-12 SANTA CLARA MUFFLERS 00548455 8536 LABOR Fleet Operation Fund 140.00 Total for Payment No.: 204.38
Payment No: 717126
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 FERDINAND PASTRANA 00549341 2096JAN2024 2023 BOOT RMBRSMNT UNIT 4 General Fund 200.00 Total for Payment No.: 200.00
Payment No: 717119
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 AJMAL PUYEHGAR 00549334 35982JAN2024 2023 BOOT RMBRSMNT UNIT 4 General Fund 200.00 Total for Payment No.: 200.00
Payment No: 717320
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 LAWRENCE TAM 00537272 39545MAY2023 2023 MAY BOOT REIMB FY22-23 Water Utility 200.00 Total for Payment No.: 200.00
Payment No: 717363
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 BATTERY SYSTEMS, INC. 00549943 28690104241657 PARTS - STOCK Fleet Operation Fund 195.62 2024-02-02 BATTERY SYSTEMS, INC. 00549943 28690104241657 BATTERY FEE Fleet Operation Fund 4.00 Total for Payment No.: 199.62
Payment No: 716778
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 BRYAN WILLIAMS 00548948 22119DEC2023 CATO TRAINING CONFERENCE General Fund 199.36 Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid Total for Payment No.: 199.36
Payment No: 716794
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 NOEL LOZANO 00548516 1655DEC2023 2023 SAFETY RMBRSMNT UNIT 4 General Fund 198.80 Total for Payment No.: 198.80
Payment No: 716782
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 DAVID SCHNEIDER 00548888 15508DEC2023 SLI 5 General Fund 197.50 Total for Payment No.: 197.50
Payment No: 717323
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 MICHAEL MACK 00550404 40470JAN2024 CAMERA STRAP REIMB General Fund 196.82 Total for Payment No.: 196.82
Payment No: 717420
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 PINE CONE LUMBER CO 00550097 217714 Lumber General Fund 194.64 2024-02-02 PINE CONE LUMBER CO 00550097 217714 CA LPA 1% General Fund 1.13 Total for Payment No.: 195.77
Payment No: 716978
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 CHANGRAS AND FREY 00549385 17805-04 UTILITY
REFUND
UTILITY REFUND General Fund 188.24
Total for Payment No.: 188.24
Payment No: 717065
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 LN CURTIS & SONS 00548754 INV777669 stad uniform SEO Valencia General Fund 186.56 Total for Payment No.: 186.56
Payment No: 028526
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 UNITED REFRIGERATION INC 00549085 94042760-00 CENTRAL HVAC General Fund 59.05 2024-01-19 UNITED REFRIGERATION INC 00549086 93992336-00 CENTRAL HVAC General Fund 127.13 Total for Payment No.: 186.18
Payment No: 717318
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 JOSE RUBIN ORTIZ 00550403 33840JAN2024 RAINGEAR REIMB FY 23-24 General Fund 185.05 Total for Payment No.: 185.05
Payment No: 028690
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 WESTERN STATES OIL CO 00549673 486874 PD MOTORS BATCH ENTRY Fleet Operation Fund 184.27 Total for Payment No.: 184.27
Payment No: 717000
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 SRIVATSAN KANNAN 00549390 25210-02 UTILITY
REFUND
UTILITY REFUND General Fund 184.09
Total for Payment No.: 184.09
Payment No: 717374
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 EJ PLUMBING 00549756 40450JAN2024 Plumbing Permit BLD23-71908 Building New Dvlpmnt Srvc Fee
184.00
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid Total for Payment No.: 184.00
Payment No: 717375
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 EMMANUAL JIMENEZ 00549755 40451JAN2024 Plumbing Permit BLD23-71722 Building New Dvlpmnt Srvc Fee
184.00
Total for Payment No.: 184.00
Payment No: 028618
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 WESTERN STATES OIL CO 00549125 486350 FUEL - PD MOTORS BATCH ENTRY Fleet Operation Fund 183.75 Total for Payment No.: 183.75
Payment No: 717048
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 FLEETPRIDE, INC. 00548783 113463966 PARTS - STOCK Fleet Operation Fund 181.70 Total for Payment No.: 181.70
Payment No: 717106
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 VERIZON WIRELESS 00548681 9952514231 CDD/BLDG LAPTOP CELLULAR Building New Dvlpmnt Srvc Fee

76.02 2024-01-19 VERIZON WIRELESS 00548681 9952514231 WATER DEPT CELLULAR Sewer Utility 104.26 Total for Payment No.: 180.28
Payment No: 716804
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 VIET NGUYEN 00548517 35088DEC2023 2023 BOOT RMBRSMNT UNIT 4 General Fund 175.00 Total for Payment No.: 175.00
Payment No: 717238
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 MELISSA FRITCHLE 00545231 001660 COUNSELING #A23 SESS #1 General Fund 175.00 Total for Payment No.: 175.00
Payment No: 716984
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 HANWHA Q CELLS AMERCIA INC 00549397 62268-08 UTILITY REFUND
UTILITY REFUND General Fund 13.35
2024-01-19 HANWHA Q CELLS AMERCIA INC 00549400 67738-08 UTILITY REFUND
UTILITY REFUND General Fund 150.65
Total for Payment No.: 164.00
Payment No: 717429
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 SAN JOSE BOILER WORKS 00548432 22035 CENTRAL LIB BOILER General Fund 163.95 Total for Payment No.: 163.95
Payment No: 716783
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 DENNIS E MCDOWELL JR 00549211 1747DEC2023 CPRS PLAYGROUND COURSE General Fund 163.50 Total for Payment No.: 163.50
Payment No: 716777
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 ALEX AUERBACH 00549207 222DEC2023 CPRS PLAYGROUND COURSE General Fund 163.50 Total for Payment No.: 163.50
Payment No: 716795
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 RANDY VAN DIEMEN 00549218 23950DEC2023 CATO TRAINING CONFERENCE General Fund 162.75 Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid Total for Payment No.: 162.75
Payment No: 716791
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 MCCOLLOCH, KEVIN 00549213 29036DEC2023 CATO TRAINING CONFERENCE General Fund 162.75 Total for Payment No.: 162.75
Payment No: 716956
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 JORDAN FACHKO 00549596 24595JAN2024 REIMB CATO TRAINING CONF General Fund 162.75 Total for Payment No.: 162.75
Payment No: 717044
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 EUIJUA KIM 00549378 51331-16 Utility Refund A Escheat Original CK 645364 General Fund 152.62 Total for Payment No.: 152.62
Payment No: 717141
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 CA FRANCHISE TAX BOARD 00550061 01/07/24-01/20/24JO WAGE ATTACHMENT B2402 Payroll Liability&ClearingAcct
150.00
Total for Payment No.: 150.00
Payment No: 716811
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 CA FRANCHISE TAX BOARD 00549282 12/24/23-01/06/24JO WAGE ATTACHMENT B2401 Payroll Liability&ClearingAcct
150.00
Total for Payment No.: 150.00
Payment No: 717234
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 LUZ CHATMAN 00549858 39955JAN2024 REIMB CAL TRAVEL SUMMIT EVENT
Deposit Funds. 149.60
Total for Payment No.: 149.60
Payment No: 716999
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 SHOTA TOMINAGA 00549389 24636-20 UTILITY
REFUND
UTILITY REFUND General Fund 147.20
Total for Payment No.: 147.20
Payment No: 028488
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 CLEARSTAR, INC. 00548850 1482116 Candidate Background Check General Fund 145.80 Total for Payment No.: 145.80
Payment No: 716958
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 PAULO PINHEIRO 00549534 3409JAN2024 TOOL REIMBURSEMENT FY23-24 Fleet Operation Fund 145.47 Total for Payment No.: 145.47
Payment No: 717137
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 VIKTORIA GLEASON 00549546 38674JAN2024 Holiday/Recognition Event Reim Water Utility 137.59 2024-01-26 VIKTORIA GLEASON 00549546 38674JAN2024 Holiday/Recognition Event Reim Sewer Utility 6.53 Total for Payment No.: 144.12
Payment No: 717239
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 MEMORIAL IMPRESSIONS INC. 00549165 27109 INSTALLATION/INSCRIPTION SERV Cemetery 143.00 Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid Total for Payment No.: 143.00
Payment No: 717262
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 RDO EQUIPMENT CO 00549117 P3334974 PARTS - V#3096 Fleet Operation Fund 141.67 Total for Payment No.: 141.67
Payment No: 716839
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 CALIFORNIA JANITORIAL SUPPLY 00548519 112972A nitrile gloves General Fund 139.77 Total for Payment No.: 139.77
Payment No: 716982
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 EVGENII KOSTIN 00549396 60873-16 UTILITY
REFUND
UTILITY REFUND General Fund 136.78
Total for Payment No.: 136.78
Payment No: 717426
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 RELATIONSHIP THERAPY CENTER 00549749 60597 BEH HEALTH COUNSEL General Fund 135.00 Total for Payment No.: 135.00
Payment No: 716807
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 YEONJUNG MAPLES 00548972 39634DEC2023 TRAINING CONFERENCE General Fund 134.96 Total for Payment No.: 134.96
Payment No: 716983
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 FABIOLA MENENES 00549393 36226-09 UTILITY
REFUND
UTILITY REFUND General Fund 134.29
Total for Payment No.: 134.29
Payment No: 717005
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 YITING WANG 00549410 83567-02 UTILITY
REFUND
UTILITY REFUND General Fund 133.76
Total for Payment No.: 133.76
Payment No: 717004
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 WEI ZENG 00549402 68849-15 UTILITY
REFUND
UTILITY REFUND General Fund 131.12
Total for Payment No.: 131.12
Payment No: 716998
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 SHINYA SHIMADA 00549409 82697-02 UTILITY
REFUND
UTILITY REFUND General Fund 130.71
Total for Payment No.: 130.71
Payment No: 028554
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 CAVENDISH SQUARE PUBLISHING
LLC
00549647 CAL344923I 1231 JUV BK General Fund 130.47
Total for Payment No.: 130.47
Payment No: 717100
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 UNIQUE TOWING 00548817 23-238883 LABOR V#3263 Fleet Operation Fund 130.00 Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid Total for Payment No.: 130.00
Payment No: 717369
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 CRIME SCENE CLEANERS INC 00549990 88843 disinfect pd vehicle General Fund 130.00 Total for Payment No.: 130.00
Payment No: 716988
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 LEE, HO 00549399 65258-32 UTILITY
REFUND
UTILITY REFUND General Fund 129.67
Total for Payment No.: 129.67
Payment No: 716995
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 RAHIM FIROZ CHUNARA 00543742 31458-27 UTILITY REFUND
UTILITY REFUND General Fund 128.90
Total for Payment No.: 128.90
Payment No: 717220
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 INNOVATIVE USERS GROUP 00549650 2034 IUG ANNUAL MEMBERSHIP General Fund 125.00 Total for Payment No.: 125.00
Payment No: 716812
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 CA FRANCHISE TAX BOARD 00549284 12/24/23-01/06/24JR WAGE ATTACHMENT B2401 Payroll Liability&ClearingAcct
125.00
Total for Payment No.: 125.00
Payment No: 717138
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 CA FRANCHISE TAX BOARD 00550057 01/07/24-01/20/24CB WAGE ATTACHMENT B2402 Payroll Liability&ClearingAcct
125.00
Total for Payment No.: 125.00
Payment No: 717142
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 CA FRANCHISE TAX BOARD 00550062 01/07/24-01/20/24JR WAGE ATTACHMENT B2402 Payroll Liability&ClearingAcct
125.00
Total for Payment No.: 125.00
Payment No: 716808
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 CA FRANCHISE TAX BOARD 00549277 12/24/23-01/06/24CB WAGE ATTACHMENT B2401 Payroll Liability&ClearingAcct
125.00
Total for Payment No.: 125.00
Payment No: 716786
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 JENNIFER DAUENHAUER 00548974 40329DEC2023 TRAINING CONFERENCE General Fund 121.84 Total for Payment No.: 121.84
Payment No: 028477
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 ALL GUARD ALARM SYSTEMS INC 00548905 A759617 MRTC 12/1/23 -12/31/23 Storm Drain 60.00 2024-01-19 ALL GUARD ALARM SYSTEMS INC 00548906 A759674 MRTC 1/1/24 - 1/31/24 Storm Drain 60.00 Total for Payment No.: 120.00
Payment No: 717339
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 MURUGESAN, KESHAVAMURTHI

JAYANTHI
00550548 46570-28 UTILITY
REFUND
UTILITY REFUND General Fund 119.19
Total for Payment No.: 119.19
Payment No: 716844
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 CONSTRUCTION TESTING

SERVICES INC
00549198 16851-4 MATERIALS TESTING AND SPECIAL PW Capital Proj ManagementFund
117.45
Total for Payment No.: 117.45
Payment No: 717314
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 DEPT OF COMMUNITY

SVCS&DEVELOP
00550553 67684-02 UTILITY
REFUND
UTILITY REFUND General Fund 117.09
Total for Payment No.: 117.09
Payment No: 028596
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 PENINSULA BUILDING MATERIALS 00549697 195412 Class II Base Rock General Fund 103.67 2024-01-26 PENINSULA BUILDING MATERIALS 00549697 195412 Gloves General Fund 7.31 Total for Payment No.: 110.98
Payment No: 717095
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 THE PERMANENTE MEDICAL
GROUP
00549450 12/09/23
AC320900249065

KAISER MEDICALS FOR RESERVES
F
General Fund 105.00
Total for Payment No.: 105.00
Payment No: 028664
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 LINDE GAS & EQUIPMENT INC. 00550094 40632332 High Pressure Cylinder Rental General Fund 102.67 Total for Payment No.: 102.67
Payment No: 717120
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 ANDREW RAJ 00549688 38138JAN2024 Employee Holiday Event 2023 Building New Dvlpmnt Srvc Fee
101.08
Total for Payment No.: 101.08
Payment No: 717383
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 HEALTHEQUITY 00550500 ACFIN0324470 SECT 125 ANNUAL FEE Deposit Funds. 100.00 Total for Payment No.: 100.00
Payment No: 028502
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 LINDE GAS & EQUIPMENT INC. 00548706 40118975 Welding Gas General Fund 99.36 Total for Payment No.: 99.36
Payment No: 716826
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 ALLIED AUTO STORES 00548474 01FB9087 PARTS - V3606 Fleet Operation Fund 98.00 Total for Payment No.: 98.00
Payment No: 717313
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 CHRISTOPHER ALLMAN 00549927 40466JAN2024 REIMBURSEMENT DMV FEES

LICENSE
General Fund 98.00
Total for Payment No.: 98.00
Payment No: 716813
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 SANTA CLARA CO SHERIFFS DEPT 00549287 12/24/23-01/06/24EJ WAGE ATTACHMENT B2401 Payroll Liability&ClearingAcct

96.37 Total for Payment No.: 96.37
Payment No: 717144
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 SANTA CLARA CO SHERIFFS DEPT 00550064 01/07/24-01/20/24EJ WAGE ATTACHMENT B2402 Payroll Liability&ClearingAcct

96.37 Total for Payment No.: 96.37
Payment No: 717130
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 NATHALIE ZAVALA 00549926 30489JAN2024 WLLE CONFERENCE REIMB General Fund 95.50 Total for Payment No.: 95.50
Payment No: 716855
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 EQUIFAX CREDIT INFORMATION
SVC
00548477 2058377411 SPECIAL EVENT OFFICER General Fund 23.14 2024-01-12 EQUIFAX CREDIT INFORMATION
SVC
00548477 2058377411 RECRUITING UNIT NEW HIRE General Fund 69.51 Total for Payment No.: 92.65
Payment No: 717446
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 SYN-TECH SYSTEMS INC 00550045 279080 PARTS - V3677 Vehicle Replacement Fund

91.93 Total for Payment No.: 91.93
Payment No: 716993
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 NAVNEET RAJPUT 00549394 45201-26 UTILITY
REFUND
UTILITY REFUND General Fund 91.03
Total for Payment No.: 91.03
Payment No: 716939
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 VERIZON WIRELESS 00548565 9022339533 GPS Tower Dump 2305010093 General Fund 90.00 Total for Payment No.: 90.00
Payment No: 028443
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 NI GOVERNMENT SERVICES 00548185 23112908551 satellite radio mo. fee General Fund 87.35 Total for Payment No.: 87.35
Payment No: 028594
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 NI GOVERNMENT SERVICES 00549232 23122908551 satellite phone fees General Fund 87.35 Total for Payment No.: 87.35
Payment No: 717311
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 ZORO TOOLS INC. 00549689 INV13566835 Tool Bag General Fund 87.29 Total for Payment No.: 87.29
Payment No: 717006
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 YOUNGSUK KIM 00523655 50754-13 UTILITY
REFUND
UTILITY REFUND General Fund 86.82
Total for Payment No.: 86.82
Payment No: 717016
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 ALHAMBRA & SIERRA SPRINGS 00548765 4973747 122223 WATER SRVC-DECEMBER 2023 Fleet Operation Fund 86.39 Total for Payment No.: 86.39
Payment No: 028515
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 STAPLES ADVANTAGE 00548965 8072304433-PLANNING OFFICE SUPPLIES General Fund 85.15 Total for Payment No.: 85.15
Payment No: 716973
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 ADITI GUPTA 00549404 71360-22 UTILITY
REFUND
UTILITY REFUND General Fund 84.81
Total for Payment No.: 84.81
Payment No: 716992
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 MRIDUL KAVIDAYAL 00549381 13750-18 UTILITY
REFUND
UTILITY REFUND General Fund 82.12
Total for Payment No.: 82.12
Payment No: 717329
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 SCC DTAC 00549048 8573160 Guadalupe Chart St Prop Tax Sewer Utility 28.88 2024-02-02 SCC DTAC 00549048 8573160 late fee Sewer Utility 51.76 Total for Payment No.: 80.64
Payment No: 028481
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 BAY AREA DATA SUPPLY 00549472 207865 Servicing checks printer General Fund 80.00 Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid Total for Payment No.: 80.00
Payment No: 716967
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 SASKIA LAGERGREN 00549600 14984JAN2024 REIMB STRATEGIC SUCCESSION PLN
General Fund 77.25
Total for Payment No.: 77.25
Payment No: 717256
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 PETERSON TRUCKS 00549115 441070M PARTS - V#2784 Fleet Operation Fund 77.14 Total for Payment No.: 77.14
Payment No: 717094
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 THE HOME DEPOT PRO 00549114 782652986 Master Plunger General Fund 76.28 Total for Payment No.: 76.28
Payment No: 717328
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 SCC DTAC 00549047 8610305 Northside Pump St Prop Tax Sewer Utility 26.41 2024-02-02 SCC DTAC 00549047 8610305 late fee Sewer Utility 49.05 Total for Payment No.: 75.46
Payment No: 717073
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 PACIFIC TELEMANAGEMENT SVCS 00548663 2116018 PD PAY PHONE SERVICE JAN 2024 Information Technology Service

75.00 Total for Payment No.: 75.00
Payment No: 717416
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 PACIFIC TELEMANAGEMENT SVCS 00549834 2117300 PD PAY PHONE SERVICE FEB 2024 Information Technology Service

75.00 Total for Payment No.: 75.00
Payment No: 717139
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 CA FRANCHISE TAX BOARD 00550058 01/07/24-01/20/24CG WAGE ATTACHMENT B2402 Payroll Liability&ClearingAcct

75.00 Total for Payment No.: 75.00
Payment No: 716809
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 CA FRANCHISE TAX BOARD 00549280 12/24/23-01/06/24CG WAGE ATTACHMENT B2401 Payroll Liability&ClearingAcct

75.00 Total for Payment No.: 75.00
Payment No: 717433
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 SIMPLEVIEW LLC 00550515 INV365052 ACT-ON SUPPORT HOURS Deposit Funds. 75.00 Total for Payment No.: 75.00
Payment No: 716905
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 PINE CONE LUMBER CO 00548518 214943 Lumber General Fund 73.75 2024-01-12 PINE CONE LUMBER CO 00548518 214943 CA LPA 1% General Fund 0.56 Total for Payment No.: 74.31
Payment No: 716790
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 MARCO MERCADO 00548976 37322DEC2023 Training Conference General Fund 74.00 Total for Payment No.: 74.00
Payment No: 717336
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 HUANG, SHENG-HSIANG 00550551 82319-02 UTILITY REFUND
UTILITY REFUND General Fund 73.80
Total for Payment No.: 73.80
Payment No: 717132
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 ROBERT SILVA 00549366 38672JAN2024 FY2324 RAINGEAR RMBRSMNT UNIT7
General Fund 73.73
Total for Payment No.: 73.73
Payment No: 716987
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 JANET JIMENEZ 00549386 24006-05 UTILITY
REFUND
UTILITY REFUND General Fund 68.00
Total for Payment No.: 68.00
Payment No: 717338
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 LI, ZHENG 00550546 41077-13 UTILITY
REFUND
UTILITY REFUND General Fund 67.80
Total for Payment No.: 67.80
Payment No: 717344
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 YIP, STANLEY 00550541 12508-22 UTILITY
REFUND
UTILITY REFUND General Fund 67.75
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid Total for Payment No.: 67.75
Payment No: 716990
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 MARIE SIMPSON 00549403 70154-19 UTILITY
REFUND
UTILITY REFUND General Fund 64.73
Total for Payment No.: 64.73
Payment No: 717153
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 PG&E 00549338 0541963339-0 DEC2023 TS @ CALVERT/CALVERT General Fund 63.44 Total for Payment No.: 63.44
Payment No: 716821
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 PG&E 00548505 0541963339-0NOV2023 TS @ CALVERT/CALVERT General Fund 62.77 Total for Payment No.: 62.77
Payment No: 717280
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 STEVENS CREEK CHEVROLET 00549260 192538-1 PARTS - V3578 Fleet Operation Fund 62.73 Total for Payment No.: 62.73
Payment No: 028637
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 CLEARSTAR, INC. 00549800 1485030 Backround General Fund 31.95 Total for Payment No.: 31.95
Payment No: 716935
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 UNITED PARCEL SERVICE 00549051 00009882E5503A DELIVERY CHARGES CLERK General Fund 16.00 2024-01-12 UNITED PARCEL SERVICE 00549187 00009882E5513A DELIVERY CHARGES General Fund 16.00 Total for Payment No.: 32.00
Payment No: 717225
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 JOHNSTONE SUPPLY 00549726 25-S100944167.001 SUPPLIES General Fund 59.39 2024-01-26 JOHNSTONE SUPPLY 00549724 25-S100960094.002 SUPPLIES General Fund 295.31 2024-01-26 JOHNSTONE SUPPLY 00549725 25-S100962806.001 CREDIT - RETURN General Fund -295.31 Total for Payment No.: 59.39
Payment No: 717185
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 CORODATA RECORDS

MANAGEMENT, INC
00549847 RS4972902 OFFSITE RECORDS MGMT DECSD General Fund 57.50 Total for Payment No.: 57.50
Payment No: 028647
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 GALE/CENGAGE LEARNING 00549769 83214448 1241 AD BK General Fund 56.45 Total for Payment No.: 56.45
Payment No: 716882
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 KELLY-MOORE PAINT CO 00548511 817-00000462006 Paint/ Supplies General Fund 56.01 Total for Payment No.: 56.01
Payment No: 716980
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 CORINNA SHI 00549408 78266-09 UTILITY
REFUND
UTILITY REFUND General Fund 55.26
Total for Payment No.: 55.26
Payment No: 717109
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 VERIZON WIRELESS 00548684 9952529796 FIRE STADIUM WIRELESS General Fund 50.10 Total for Payment No.: 50.10
Payment No: 716815
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 US TREASURY 00549286 12/24/23-01/06/24JO WAGE ATTACHMENT B2401 Payroll Liability&ClearingAcct

50.00 Total for Payment No.: 50.00
Payment No: 717146
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 US TREASURY 00550063 01/07/24-01/20/24JO WAGE ATTACHMENT B2402 Payroll Liability&ClearingAcct

50.00 Total for Payment No.: 50.00
Payment No: 716888
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 MATTHEW GERRY 00548586 40387DEC2023 LiveScan Services General Fund 45.00 Total for Payment No.: 45.00
Payment No: 716785
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 GRANT SAKAKIHARA 00548973 32129DEC2023 TRAINING CONFERENCE General Fund 43.00 Total for Payment No.: 43.00
Payment No: 028588
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 LINDE GAS & EQUIPMENT INC. 00549230 40129932 SERVICE Fleet Operation Fund 42.90 Total for Payment No.: 42.90
Payment No: 717340
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 STOTT, JOHN 00550549 50928-01 UTILITY
REFUND
UTILITY REFUND General Fund 40.83
Total for Payment No.: 40.83
Payment No: 716780
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 CHRISTINA CAMINO 00548954 40330DEC2023 TRAINING CONFERENCE General Fund 38.00 Total for Payment No.: 38.00
Payment No: 717208
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 GOLDEN STATE EMERGENCY

VEHICLE SERV, INC
00549215 CI042901 PARTS - V3288 Fleet Operation Fund 36.06 Total for Payment No.: 36.06
Payment No: 717152
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 PG&E 00549310 8978316890-2 DEC2023 Dec 2023 700 Los Esteros Trmt Sewer Utility 31.49 Total for Payment No.: 31.49
Payment No: 717456
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 UNITED PARCEL SERVICE 00550233 00009882E5024A DELIVERY CHARGES General Fund 16.90 2024-02-02 UNITED PARCEL SERVICE 00550233 00009882E5024A DELIVERY CHARGES General Fund 11.12 Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid Total for Payment No.: 28.02
Payment No: 717334
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 CERDA, MAX 00550542 21790-02 UTILITY
REFUND
UTILITY REFUND General Fund 24.05
Total for Payment No.: 24.05
Payment No: 716867
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 GRAYBAR ELECTRIC 00548481 9335277231 FIRE DEPT AV PROJECT SUPPLIES General Government - Other

23.84 Total for Payment No.: 23.84
Payment No: 717197
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 EQUIFAX CREDIT INFORMATION
SVC
00549449 2058736282 RECRUITING UNIT NEW HIRES General Fund 23.16 Total for Payment No.: 23.16
Payment No: 717435
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 STANDARD PLUMBING SUPPLY CO 00550095 WDHW15 Pipe Fittings General Fund 21.38 Total for Payment No.: 21.38
Payment No: 717017
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 ALLIED AUTO STORES 00548766 01FC2743 PARTS - STOCK Fleet Operation Fund 21.16 Total for Payment No.: 21.16
Payment No: 716991
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 MARK LOZANO 00549411 84120-03 UTILITY
REFUND
UTILITY REFUND General Fund 20.39
Total for Payment No.: 20.39
Payment No: 717439
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 STEVENS CREEK CHEVROLET 00550088 193065-1 PARTS - V#3441 Fleet Operation Fund 19.91 Total for Payment No.: 19.91
Payment No: 028572
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 GEOTAB USA, INC 00549108 IN366742 REGION1 PROPLUS PLAN DEC2023 Solid Waste Program 19.75 Total for Payment No.: 19.75
Payment No: 717205
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 FLEETPRIDE, INC. 00549489 113766129 PARTS - STOCK Fleet Operation Fund 19.10 Total for Payment No.: 19.10
Payment No: 717018
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 AMAZON CAPITAL SERVICES, INC. 00548762 1TL1-F44J-VK1K 1241 AD DVD General Fund 19.63 2024-01-19 AMAZON CAPITAL SERVICES, INC. 00548762 1TL1-F44J-VK1K SUPPLIES General Fund 20.95 2024-01-19 AMAZON CAPITAL SERVICES, INC. 00548762 1TL1-F44J-VK1K 1235 AD VG General Fund -21.81 Total for Payment No.: 18.77
Payment No: 716974
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 AISWARYA LAKSHMI

RENGANATHAN
00549384 14725-32 UTILITY
REFUND
UTILITY REFUND General Fund 17.04
Total for Payment No.: 17.04
Payment No: 717297
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-26 UNITED PARCEL SERVICE 00549848 00009882E5014A DELIVERY CHARGES General Fund 16.90 Total for Payment No.: 16.90
Payment No: 717101
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 UNITED PARCEL SERVICE 00549477 00009882E5523A DELIVERY CHARGES CITY CLERK General Fund 16.90 Total for Payment No.: 16.90
Payment No: 717002
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 TARIQ OSMAN 00549395 45590-26 UTILITY
REFUND
UTILITY REFUND General Fund 16.64
Total for Payment No.: 16.64
Payment No: 716997
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 SANTA CLARA UNIVERSITY - PROP
MGMT
00549392 33189-31 UTILITY
REFUND
UTILITY REFUND General Fund 15.34
Total for Payment No.: 15.34
Payment No: 717441
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-02-02 STRATUS VIDEO, LLC 00549761 SIN570302 LANGUAGE SERVICES General Fund 13.50 Total for Payment No.: 13.50
Payment No: 028394
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 BADGER METER INC 00548742 80147981 ORION CELLULAR SERVICE Water Utility 13.35 Total for Payment No.: 13.35
Payment No: 716994
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 PAVAN KUMAR SHEKAR 00549391 27350-20 UTILITY REFUND
UTILITY REFUND General Fund 12.74
Total for Payment No.: 12.74
Payment No: 716996
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 RUNJIE XU 00544748 76481-09 UTILITY
REFUND
UTILITY REFUND General Fund 10.90
Total for Payment No.: 10.90
Payment No: 716989
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 LILLIANN DINH 00549407 75686-11 UTILITY
REFUND
UTILITY REFUND General Fund 8.33
Total for Payment No.: 8.33
Payment No: 716976
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 BING-JIE HSIEH 00549387 24143-18 UTILITY
REFUND
UTILITY REFUND General Fund 7.49
Total for Payment No.: 7.49
Payment No: 028482
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 BELL ELECTRICAL SUPPLY, INC. 00549109 5789822 Wall Plate General Fund 7.09 Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid Total for Payment No.: 7.09
Payment No: 716981
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 DEREN KONG 00549383 14639-30 UTILITY
REFUND
UTILITY REFUND General Fund 6.73
Total for Payment No.: 6.73
Payment No: 716784
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-12 GINA SAPORITO 00542813 29051AUG2023 TRAVEL REIMB PATRICK HENRY DR
Parks And Recreation 5.90
Total for Payment No.: 5.90
Payment No: 717003
Payment Date Vendor Name Voucher No. Invoice No. Description Fund Code Amount Paid 2024-01-19 TYEMAN CHAU 00549382 14135-11 UTILITY
REFUND
UTILITY REFUND General Fund 4.16
Total for Payment No.: 4.16
All Other City Funds Group Total 52,307,753.56
Overall Total 100,801,291.13
City of Santa Clara
Agenda Report
1500 Warburton Avenue
Santa Clara, CA 95050
santaclaraca.gov
@SantaClaraCity
24-28 Agenda Date: 3/5/2024

REPORT TO COUNCIL

SUBJECT
Action on Monthly Financial Status and Investment Reports for November and December 2023 and Approve the Related Budget Amendments

COUNCIL PILLAR
Enhance Community Engagement and Transparency

BACKGROUND
In compliance with the Charter of the City of Santa Clara and the adopted Investment Policy, the monthly financial report and monthly investment report for November and December 2023 are submitted for your information. The financial reviews as of November 30 and December 31, 2023 provide a year-to-date financial update to the City Council for fiscal year 2023/24. The analysis of the revenues collected and all expenditures measures the level of adherence to the established resource allocation plan and allows the City to monitor and project revenues and expenditures throughout the year.

The Adopted Budget incorporates the estimated revenues and planned expenditures for all funds.

The attached Financial Status Report provides the actual revenue and expenditure summaries for the General Fund, Special Revenue Funds and Enterprise Operating Funds. The Report also includes an expenditure summary for Capital Improvement Funds and Fund Reserve Balances. Any significant variances are explained in the report.

In accordance with City Council Policy 051 - Donations to the City, included in these reports are monthly activity and annual summary of donations received by each department. Although the requirement of the policy is to report quarterly, the City will provide this information monthly in the Financial Status Report.

DISCUSSION
Monthly Financial Status Report (Attachments 1 and 3)
The attached reports summarize the City’s financial performance as of November 30 and December 31, 2023 (Attachments 1 and 3). These reports contain financial analysis for the General Fund, select Special Revenue Funds, Enterprise Operating Funds, and Capital Improvement Program Funds.

Attachment 1 shows that General Fund revenues (excluding transfers) are at 26.9% of the budget through November 2023, and Attachment 3 shows revenues at 36.3% through December 2023.

While General Fund revenues appear to be below the year-to-date par level, this is primarily due to the timing of payments. Overall, revenues are tracking within estimated levels through December. As City of Santa Clara Printed on 3/1/2024Page 1 of 5
powered by Legistar™
24-28 Agenda Date: 3/5/2024
shown in Attachments 1 and 3, General Fund departmental expenditures are tracking within budget at 38.9% of budget through November 2023 and 46.6% of budget through December 2023. With the exception of the Fire Department, departments are tracking at or below the par level through December. The Fire Department is tracking slightly above budget due to higher overtime expenditures related to the backfill for absences as well as higher compensatory time off payments.

As shown in Attachments 1 and 3, total revenues for Enterprise Funds (Electric, Water, Sewer, Cemetery, Solid Waste, and Water Recycling) were at 28.3% and 34.6% of budget through November and December, respectively. Total expenses were at 33% in November and 39.9% in December, which are within budgeted levels.

In the month of November, donations of $2,162 were received, bringing total donations to $116,246.

No additional donations were received in December.

Some U.S. economic forecasts are predicting weaker growth in 2024. The December 2023 UCLA Anderson Forecast assumes no recession. However, the higher interest rates are expected to restrain growth in 2024. In its December 2023 forecast, the Conference Board predicts a tepid start to 2024.

On a national level, the unemployment rate remained unchanged at 3.7% between November and December 2023. In December, the number of unemployed persons was unchanged at 6.3 million. In the fourth quarter 2023, the Gross Domestic Product (GDP) increased at an annual rate of 3.3% according to the “advance” estimate released by the Bureau of Economic Analysis. This follows a GDP increase of 4.9% in the third quarter 2023.

The California unemployment rate increased slightly from 4.9% in November 2023 to 5.1% in December 2023 and was up from 4.1% in December 2022. The unadjusted unemployment rate in the San José-Sunnyvale-Santa Clara Metropolitan Statistical Area (MSA) was 4.0% in December 2023, up slightly from a revised 3.9% in November 2023, and above the December 2022 level of 2.4%.

Staff will continue to closely monitor the General Fund and the City’s overall financial performance as the fiscal year progresses.

Monthly Investment Report (Attachments 2 and 4)
All securities held by the City of Santa Clara as of November 30 and December 31, 2023 were in compliance with the City’s Investment Policy Statement regarding current market strategy and long- term goals and objectives. All securities held are rated “A” or higher by two nationally recognized rating agencies. There is adequate cash flow and maturity of investments to meet the City’s needs for the next six months.

The City’s investment strategy for November and December 2023 was to invest funds not required to meet current obligations in securities listed in the prevailing Investment Policy Statement. This strategy ensures safety of the City’s funds, provides liquidity to meet the City’s cash needs, and with a reasonable portfolio return of 3.06% and 3.05% in November and December, respectively.

ENVIRONMENTAL REVIEW
The actions being considered do not constitute a “project” within the meaning of the California Environmental Quality Act (“CEQA”) pursuant to section 15378(b)(4) of Title 14 of the California Code City of Santa Clara Printed on 3/1/2024Page 2 of 5
powered by Legistar™
24-28 Agenda Date: 3/5/2024
of Regulations in that they are fiscal activities that do not involve any commitment to any specific project which may result in a potential significant physical impact on the environment.

FISCAL IMPACT
From time to time, budget adjustments are necessary to reflect new information, align budgets with actual revenues and expenses, and correct errors. The recommended budget adjustments are described in Attachment 5 and summarized below:
· City Affordable Housing Capital Fund/City Affordable Housing Fund - transfers $4.9 million
from the City Affordable Housing Capital Fund to the City Affordable Housing Fund for the loan to the Charities Housing Development Corporation for the Civic Center housing project.

Because this funding will be treated as a loan, it is recommended to transfer this funding to the City Affordable Housing Fund, to keep consistent with how other housing developer loans are treated.
· Convention Center Enterprise Fund/Convention Center Capital Fund - transfers $125,000 from
the Convention Center Enterprise Fund to the Convention Center Capital Fund and appropriates the funding to the Santa Clara Convention Center Condition Assessment Repair project to complete electrical signage repairs at the Convention Center. · Electric Utility Capital Fund
- recognizes additional transfers from the Electric Utility Fund and Water Utility Capital Fund and increases in developer contribution estimates for higher costs associated with various capital projects including the Fiber Development, Design and Expansion Project ($1.6 million), New Business Estimate Work Project ($6.0 million), Transmission and Distribution Capital Maintenance and Betterments Project ($1.0 million), and the Storm Water Compliance Project ($150,000).
· Electric Utility Fund
- transfers $6.0 million to the Electric Utility Capital Fund for higher costs in the New Business Estimate Work project.
· Water Utility Capital Fund - decreases the SCADA Improvement Project budget in the amount of $191,500 and transfers that funding to the Fiber Development, Design and Expansion Project in the Electric Utility Capital Fund.
· Fire Operating Grant Trust Fund
- recognizes and appropriates grant funding for the 2022 Emergency Management Preparedness Grant ($2,600) and the 2023 County of Santa Clara Emergency Medical Services Grant ($51,446).
· Streets and Highways Capital Fund/Developer Traffic Payments Fund/Traffic Mitigation Fund -
eliminates the Multimodal Improvement Plan Phase 1 ($740,000) and Multimodal Improvement Plan Phase 2 ($1,340,000) project budgets as these are both on hold with Related Santa Clara. Corresponding decreases to developer contributions in the Developer Traffic Payments Fund ($1,108,500), the Traffic Mitigation Fund ($221,500), and the Streets and Highways Capital Fund ($750,000) supporting these two projects are also eliminated.

The table below summarizes the net budget change in revenue and expenditure for each fund impacted by the recommended budget amendments.

FY 2023/24 Recommended Budget Amendments
Fund Name Revenue Expenditure
City Affordable Housing Capital $0 $0
Fund (net-zero adjustment of $4.9M
to shift project budget)
City Affordable Housing Fund $4,944,484 $4,944,484
Convention Center Capital Fund $125,000 $125,000
Convention Center Enterprise Fund $0 $0
(net-zero adjustment of $125K
from fund balance)
Developer Traffic Payment Fund ($1,108,500) ($1,108,500) Electric Utility Capital Fund $7,591,500 $7,591,500
Electric Utility Fund (net-zero $0 $0
adjustment of $6.0M
from fund balance)
Fire Operating Grant Trust Fund $54,046 $54,046
Streets and Highways Capital Fund ($2,080,000) ($2,080,000) Traffic Mitigation Fund ($221,500) ($221,500)
Water Utility Capital Fund (net-zero $0 $0
adjustment of $191K)
City of Santa Clara Printed on 3/1/2024Page 3 of 5
powered by Legistar™
24-28 Agenda Date: 3/5/2024
FY 2023/24 Recommended Budget Amendments
Fund Name Revenue Expenditure
City Affordable Housing Capital $0 $0
Fund (net-zero adjustment of $4.9M
to shift project budget)
City Affordable Housing Fund $4,944,484 $4,944,484
Convention Center Capital Fund $125,000 $125,000
Convention Center Enterprise Fund $0 $0
(net-zero adjustment of $125K
from fund balance)
Developer Traffic Payment Fund ($1,108,500) ($1,108,500) Electric Utility Capital Fund $7,591,500 $7,591,500
Electric Utility Fund (net-zero $0 $0
adjustment of $6.0M
from fund balance)
Fire Operating Grant Trust Fund $54,046 $54,046
Streets and Highways Capital Fund ($2,080,000) ($2,080,000) Traffic Mitigation Fund ($221,500) ($221,500)
Water Utility Capital Fund (net-zero $0 $0
adjustment of $191K)

COORDINATION
This report has been coordinated with the City Attorney’s Office.

PUBLIC CONTACT
Public contact was made by posting the Council agenda on the City’s official-notice bulletin board outside City Hall Council Chambers. A complete agenda packet is available on the City’s website and in the City Clerk’s Office at least 72 hours prior to a Regular Meeting and 24 hours prior to a Special Meeting. A hard copy of any agenda report may be requested by contacting the City Clerk’s Office at (408) 615-2220, email [email protected] mailto:[email protected] or at the public
information desk at any City of Santa Clara public library.

RECOMMENDATION

1. Note and file the Monthly Financial Status Reports and Monthly Investment Reports for November and December 2023 as presented; and

2. Approve the following FY 2023/24 Budget Amendments as summarized below and detailed in Attachment 5:
a. Transfer $4,944,484 from City Affordable Housing Capital Fund to the City Affordable Housing Fund for the Civic Center Drive - Low Income Housing Project as a loan (majority affirmative Council votes required);
b. Transfer $125,000 from the Convention Center Enterprise Fund to the Convention Center Capital Fund for electrical signage repairs (five affirmative Council votes required for the use of unused balances);
c. Decrease the developer contributions revenue estimate by $2,080,000 in the Developer City of Santa Clara Printed on 3/1/2024Page 4 of 5
powered by Legistar™
24-28 Agenda Date: 3/5/2024
Traffic Payments Fund, Streets and Highways Capital Fund, and Traffic Mitigation Fund offset by a decrease in the Multimodal Improvement Plan Phase 1 and Phase 2 projects (majority affirmative Council votes required); d. Recognize and appropriate grant funding in the Fire Operating Grant Trust Fund in the amount of $2,600 for the 2022 Emergency Management Preparedness Grant and $51,446 for the 2023 County of Santa Clara Emergency Medical Services Grant (five affirmative Council votes required to appropriate additional revenue); e. Appropriate $1,591,500 in the Electric Utility Capital Fund for the Fiber Development, Design, and Expansion Project, offset by developer contributions and a decrease to the SCADA Improvements project in the amount of $191,500 in the Water and Utility Capital Fund (five affirmative Council votes required to appropriate additional revenue);
f. Transfer $6,000,000 from the Electric Utility Fund to the Electric Utility Capital Fund for the New Business Estimate Work Project (five affirmative Council votes required to appropriate additional revenue);
g. Appropriate $1,000,000 in the Electric Utility Capital Fund for the Transmission and Distribution Capital Maintenance and Betterments Project offset by unrestricted ending fund balance (five affirmative Council votes required for the use of unused balances); and,
h. Appropriate $150,000 in the Electric Utility Capital Fund for the Storm Water Compliance Project offset by unrestricted ending fund balance (five affirmative Council votes required for the use of unused balances).

Reviewed by: Kenn Lee, Director of Finance
Approved by: Jovan D. Grogan, City Manager

ATTACHMENTS

1. Monthly Financial Status Report - November 2023

2. Monthly Investment Report - November 2023

3. Monthly Financial Status Report - December 2023

4. Monthly Investment Report - December 2023

5. FY 2023/24 Budget Amendments
City of Santa Clara Printed on 3/1/2024Page 5 of 5
powered by Legistar™

_____________________________________________________________________

MONTHLY FINANCIAL STATUS REPORT

November 2023

City of
Santa Clara
The Center of What 's Possible

1 City of Santa Clara
Financial Status Report as of November 30, 2023

This report summarizes the City’s financial performance for the month ended November 30, 2023.

Financial analysis for the report is provided for the General Fund, select Special Revenue Funds, Enterprise Operating Funds, and Capital Improvement Funds. Financial information included in this report is unaudited.

Economic Outlook
While there are varying forecasts, economic growth is expected to be constrained in 2024. The December 2023 UCLA Anderson Forecast is almost unchanged from its October 2023 and continues to assume no recession. “The oft-predicted but never seen “recession next quarter” has now faded in the face of expansionary fiscal policy, new national industrial policy, and a consumer who is happy to continue spending.” While a recession is no longer predicted, the higher interest rates are expected to restrain growth in 2024. Substantial risks to the forecast are also identified, including a potential shutdown of the government, the impact of geopolitical events, and the impact of the election on economic policies in 2025.1
Quarterly Real GDP Growth, Seasonally Adjusted Annual Rates

In its latest Forecast, The Conference Board predicts a “tepid start to 2024. While the prospects for a soft landing have risen we continue to believe that volatility awaits the US economy in this year. We forecast two quarters of slightly negative GDP growth in Q2 and Q3 2024 that will be broadly felt across the economy. However, late 2024 and 2025 should usher in a period of lower volatility and greater

1 UCLA Anderson Forecast, December 2023, 1995 Déjà Vu All Over Again: The U.S. Economic Outlook United States : GDP, real, LCU
%

7.5 5

2.5 0
-2.5 -l----------,..-----~----,-----+----.--~---~--,..-------- 202, 2022 2023 2024 2025
Source: UCLA Anderson Forocast, U.S. Bureau of Economic Analysis

2 City of Santa Clara
Financial Status Report as of November 30, 2023

predictability. Inflation and interest rates should normalize and GDP growth should converge to potential at just under 2 percent.”2
On a national level, the unemployment rate remained unchanged at 3.7% between November and December 2023. This rate was well below the record setting high of 14.7% in April 2020, but above the pre-pandemic unemployment rate of 3.5%. In December, the number of unemployed persons was unchanged at 6.3 million.3

In the third quarter 2023, the Gross Domestic Product (GDP) increased at an annual rate of 4.9% according to the “third” estimate released by the Bureau of Economic Analysis. This follows a GDP increase of 2.1% in the second quarter 2023. The GDP increase reflected increases in consumer spending, private inventory investment, exports, state and local government spending, federal government spending, residential fixed investment, and nonresidential fixed investment. Compared to the second quarter, the GDP acceleration in the third quarter primarily reflected accelerations in consumer spending and an upturn in exports that were partially offset by a deceleration in nonresidential fixed investment.4

2 https:///www.conference-board.org/research/us-forecast, The Conference Board Economic Forecast for the US Economy, Updated January 11, 2024

3 https://www.bls.gov/news.release/pdf/empsit.pdf
4 https://www.bea.gov/news/2023/gross-domestic-product-third-estimate-corporate-profits-revised-estimate-and-gdp ,Chart 1. Unemployment ralie, seascmal ly adjuste1!!\
Dec,ember 211211 - December 2023
Percent
J _O
2_5
~ -21 MaJ-22 JUl),22 Sep-22 De t, 22 Mar-23 Jtn, 2l Sep ,23 Dec ,2J Chart . 2. Nonfami paym ll @mployment ov r-tli'le-monlh change , seasonally at!jus.ted, December 21121 - December 202:3
Thousands.

1.000
900
800
700
600
500
400
3001
.200
1001
0 -100
-
Iii
I
I
-
-
l =IIF!.tiliil·
De 21 Mai-,2:2 Jtn 22 Sep-22 Dec-22 Mer-23 J tD-21 Sep ,23 Dec-23

3 City of Santa Clara
Financial Status Report as of November 30, 2023

At the state level, the California unemployment increased from 4.9% in November 2023 to 5.1% in December 2023. This rate is higher compared to the 4.1% rate in December 2022. From December 2022 to December 2023, California added 311,000 nonfarm jobs, an increase of 1.7%. 5 The unadjusted unemployment rate in the San José-Sunnyvale-Santa Clara Metropolitan Statistical Area (MSA) was 4.0% in December 2023, up slightly from 3.9% in November 2023, and above the December 2022 estimate of 2.4%. Between December 2022 and December 2023, employment in this region increase by 10,500 jobs, or 0.9%. The largest increases were in private education and health services (up 10,900 jobs) and leisure and hospitality (up 8,500 jobs). Notable employment reductions were in manufacturing (down 3,600 jobs), information (down 3,500 jobs) and construction (down 2,600 jobs).6
General Fund
The General Fund is the major operating fund for the City and includes multiple programs, services, and activities for the residents and businesses of the City. The adopted budget for operating revenues and expenditures for fiscal year 2023/24 was $281.8 million. The amended budget for revenues and expenditures was adjusted to $287.4 million to reflect carryover encumbrances from fiscal year 2022/23 and various budget amendments approved by the City Council through November 2023.

General Fund revenues and exp enditures are currently tracking with estimated levels.

5 https://edd.ca.gov/en/about_edd/news_releases_and_announcements/unemployment-december-2023/ 6 https://labormarketinfo.edd.ca.gov/file/lfmonth/sjos$pds.pdf R,eal GDP: Percent change fr,om pr,eoeding quarter
40 30
20 10
0 -10
-20
-30
-40
Q Ul
2019
Q
2020
U.S. Bureau of Economic Ana ys~s
Q4 Ql 12 3
2021
Q4 Ql Q_ J Q4 l3
2022 2023
Seasonally adjusted annual rates

4 City of Santa Clara
Financial Status Report as of November 30, 2023

General Fund Revenues
As of November 30, 2023, $73.2 million or 26.9% of the General Fund estimated revenue (excluding transfers) was received. Transfers and use of reserves of $15.0 million have occurred as budgeted.

Adopted Budget
Amended
Budget
Actual Through
11/30/2023
Percentage
Received
Actual Through
11/30/2022
$
Change From
Pri
or Year
Percentage
Change
TAXES
Sales Tax 60,524, 000$ 60,524,000$ 15,323,471$ 25.32% 16,324,246$ (1,000,775)$ -6.13% Property Tax 85,800,000 85,800,000 13,496,133 15.73% 13,693,270 (197,137) -1.44% Transient Occupancy Tax 21,275,000 21,275,000 5,717,965 26.88% 5,561,694 156,271 2.81% Other Taxes 6,750,000 6,750,000 1,794,102 26.58% 1,788,958 5,144 0.29% Total Taxes 174,349,000 174,349,000 36,331,671 20.84% 37,368,168 (1,036,497) -2.77%

LICENSES & PERMITS
Business Licenses 6,000,000 6,000,000 2,178,351 36.31% 357,795 1,820,556 508.83% Fire Operation Permits 2,000,000 2,000,000 666,745 33.34% 792,866 (126,121) -15.91% Miscellaneous Permits 69,000 69,000 2,461 3.57% 32,532 (30,071) -92.44% Total Licenses & Permits 8,069,000 8,069,000 2,847,557 35.29% 1,183,193 1,664,364 140.67% FINES & PENALTIES 1,225,000 1,225,000 1,037,160 84.67% 105,604 931,556 882.12% INTERGOVERNMENTAL 520,000 520,000 148,252 28.51% 170,066 (21,814) -12.83% CHARGES FOR SERVICES 29,314,768 29,666,268 12,810,495 43.18% 13,147,444 (336,950) -2.56% SILICON VALLEY POWER TRANSFER 32,000,000 32,000,000 13,712,604 42.85% 11,934,953 1,777,651 14.89%

USE OF MONEY & PROPERTY
Interest 3,500,000 3,500,000 16,106 0.46% 378,009 (361,903) -95.74% Rent 12,397,660 12,397,660 5,243,300 42.29% 4,307,466 935,834 21.73% Total Use of Money & Property 15,897,660 15,897,660 5,259,406 33.08% 4,685,475 573,931 12.25% MISCELLANEOUS REVENUES 180,000 180,000 137,475 76.38% 1,859,668 (1,722,193) -92.61%

OTHER FINANCING SOURCES
Operating Transfer In - Storm Drain 1,454,000 1,454,000 1,454,000 100.00% 1,454,000 - 0.00% Operating Transfer In - Reserves 2,772,275 8,012,113 8,012,113 100.00% 34,325,079 (26,312,966) -76.66% Operating Transfer In - Fund Balances(1) 4,759,683 4,759,683 4,759,683 100.00% 4,484,726 274,957 6.13% Operating Transfer In - Miscellaneous 746,044 746, 044 746,044 100.00% 2,370,374 (1,624,330) -68.53% Total Other Financing Sources 9,732,002 14,971,840 14,971,840 100.00% 42,634,179 (27,662,339) -64.88%

STADIUM OPERATION
Charges for Services 9,278,128 9,278,128 895,270 9.65% 2,293,120 (1,397,850) -60.96% Rent and Licensing 1,230,000 1,230,000 69,313 5.64% 556,621 (487,308) -87.55% Total Stadium Operation 10,508,128 10,508,128 964,583 9.18% 2,849,741 (1,885,158) -66.15% TOTAL GENERAL FUND 281,795,558$ 287,386,896$ 88,221,042$ 30.70% 115,938,491$ (27,717,448)$ -23.91% (1) The Operating Transfer In - Fund Balances includes the carryover encumbrances of open purchase orders as of June 30, 2023 and mid year budget amendment from reserves.

Function

CITY OF SANTA CLARA

GENERAL FUND

REVENUES OVERVIEW AND COMPARISON BY TYPE
FISCAL YEAR 2023/24 PY REVENUE COMPARISON

5 City of Santa Clara
Financial Status Report as of November 30, 2023

General Fund Revenues
Sales Tax: The City of Santa Clara sales tax rate is 9.125%, of which the City receives 1.0%. As of November 30, 2023, approximately $15.3 million has been collected, which is 6.1% lower than prior year collection levels. Data for the third quarter 2023 reflected a decrease of 6.2% when compared to the third quarter 2022. Local business activity (excluding the Countywide pool and adjustments to prior periods) was down 1.1% in the third quarter 2023, reflecting declines in General Retail (down 5.9%), Transportation (down 6.1%) and Construction (down 11.7%) that were largely offset by growth in Business to Business (up 0.8%), and Food Products (up 14.4%). Activity in the Countywide pool was down 24.8%. This is the first decline after four quarters of growth experienced in FY 2022/23. Given the strong performance last fiscal year, receipts can decline by approximately 6% in the remaining three quarters of FY 2023/24 and still meet the budgeted estimate. Internet sales represents a sizeable amount of the City’s sales tax revenue. The County pool, which includes internet sales, accounts for approximately 20% of the sales tax the City receives.

Property Tax: Property tax receipts totaling $13.5 million were received through November 2023. The majority of property tax revenue is collected in February and April each year. Based on information from the County of Santa Clara, property tax receipts are projected to end the year above the Adopted Budget estimate of $85.8 million.

Transient Occupancy Tax (TOT): TOT is calculated as a percentage of City hotel/motel room charges. The City’s TOT rate is currently 11.5% and will increase to 12.5% effective January 1, 2024.

This rate increase was factored into the development of the FY 2023/24 Adopted Budget. Through November 30, 2023, approximately $5.7 million was received, which is 2.8% higher than prior year receipts.

Other Taxes: Includes franchise tax and documentary transfer tax. The City has collected $1.8 million through November, which is on par with last fiscal year’s collection levels. Receipts through November reflect franchise tax collections of $1.5 million and approximately $0.3 million in documentary transfer tax revenue.

Licenses & Permits: Includes business licenses, fire operation permits, and miscellaneous permits and fees. Licenses and permits revenue collections are tracking below par with receipts totaling $2.8 million, or 35.3% of the $8.1 million budget. However, this represents a nearly 156% increase compared to prior year collection levels, primarily in the business license category. The updated Business License Tax is being implemented this fiscal year with the new methodology. With this transition and the need to re-register every business, the timeline to submit payments has been extended which has impacted actual receipts in the first few months. Staff will closely monitor results from the implementation to determine if any budget adjustments are necessary based on the actual collections.

Fines & Penalties: Includes vehicle, parking, court fines, and miscellaneous penalty fines. The revenue collected in this category through November was $1.0 million, or 84.7% of the budgeted

6 City of Santa Clara
Financial Status Report as of November 30, 2023

estimate. Collections in this category are tracking well above the budget and the prior year due to the resumption of the assessment of late fees that had previously been waived due to COVID-19.

Intergovernmental: Includes motor vehicle fees, state homeowner tax relief, state mandated reimbursement and redistribution of land sale proceeds and ground leases from the Successor Agency.

Through November 30, 2023, $0.1 million was collected in this category, which is on par with prior year collection levels.

Charges for Services: Includes various plan check and zoning-related fees, engineering fees, administrative fees, and community service revenue from various recreational activities. Through November, collections of approximately $12.8 million are tracking slightly above par at 43.2% of the budget. This reflects a 2.7% decrease compared to last year’s collections through the same period of $11.8 million. While collections in EMS transport and miscellaneous charges are higher than prior years, collections in engineering fees and planning and zoning fees are lower. Additionally, effective July 1, 2023, the Fire Development Services Fund was established and fire construction permitting fees are now booked in this fund, instead of the General Fund.

Sili con Valley Po wer Transfer: In accordance with the City’s charter, Silicon Valley Power pays 5.0% of gross revenues to the General Fund. Through November, $13.7 million has been transferred.

Transfers throughout the year are based on the budgeted estimate and will be trued up at the end of the fiscal year based on actual performance.

Use of Money & Property: Includes realized investment income and rental income. Through November, $5.3 million has been collected, compared to $4.7 million last fiscal year. This increase is primarily due to higher rental income revenues, including right-of-way and Related lease payments.

Miscellaneous Revenues: Includes developer fees, donations, damage recovery, sale of surplus, and one-time miscellaneous revenues. Through November 30, 2023, collections of $0.1 million are significantly lower than prior year levels. This is attributable to the one-time settlement between the City, the Santa Clara Stadium Authority, and the Forty-Niners SC Stadium Company LLC and Forty Niners Stadium Management Company LLC (collectively, the Forty-Niners) recorded last fiscal year.

Stadium Operation: Through November 2023, revenues of $0.9 million are tracking well below par at

9.2% of the budget due to the timing of reimbursements for the costs incurred by the City.

Reimbursements usually take between three to six months from the event date due to the timing of third-party invoices and payment from the Stadium Manager. Revenues are also significantly below prior year collection levels. Last year, the payment of older public safety invoices was submitted as part of the August 2022 legal settlement. Outstanding public safety invoices from 2020 and 2021 were paid in September 2022 as a result of the settlement.

7 City of Santa Clara
Financial Status Report as of November 30, 2023

General Fund Expenditures
As of November 30, 2023, $120.3 million or 41.9% of the General Fund operating budget had been expended. Overall, expenditures in the General Fund are within budgeted levels through November.

Departmental expenditures totaled $103.7 million, or 38.9% of the budget, which is below the par level of 41.7% of the budget. Transfers of $11.6 million have occurred as budgeted.

Adopted Budget
Amended
Budget
Actual Through
11/30/2023
Percentage
Use d
Actual Through
11/30/2022
$
Change From
Prior Year
Percentage
Change

GENERAL GOVERNMENT
Non-Departmental 15,123,531$ 15,640,480$ 4,316,021$ 27.60% 2,013,239$ 2,302,782$ 114.38% City Council 1,124,281 1,131,037 468,262 41.40% 266,677 201,585 75.59% City Clerk 1,947,261 2,121,865 670,951 31.62% 757,746 (86,795) -11.45% City Manager 5,410,204 5,938,327 1,369,305 23.06% 1,821,516 (452,211) -24.83% City Attorney 3,076,516 3,196,951 1,135,878 35.53% 1,368,946 (233,068) -17.03% Human Resources 4,300,090 4,464,113 1,323,766 29.65% 1,468,880 (145,114) -9.88% Finance 19,140,702 19,939,776 6,891,409 34.56% 7,016,819 (125,410) -1.79% Total General Government 50,122,585 52,432,549 16,175,592 30.85% 14,713,823 1,461,769 9.93% PUBLIC WORKS 24,857,521 26,178,981 9,699,755 37.05% 9,133,284 566,472 6.20% COMMUNITY DEVELOPMENT 5,121,256 5,227,061 2,063,937 39.49% 1,847,449 216,488 11.72% PARKS AND RECREATION 21,933,152 22,711,221 8,954,437 39.43% 8,681,141 273,296 3.15%

PUBLIC SAFETY
Fire 62,616,032 63,222,036 27,510,759 43.51% 28,080,867 (570,108) -2.03% Police 85,598,562 85,946,468 35,188,038 40.94% 33,810,147 1,377,891 4.08% Total Public Safety 148,214,594 149,168,504 62,698,797 42.03% 61,891,014 807,783 1.31% LIBRARY 11,135,937 11,229,696 4,155,351 37.00% 4,343,709 (188,358) -4.34% DEPARTMENTAL TOTAL 261,385,045 266,948,012 103,747,869 38.86% 100,610,420 3,137,450 3.12%

OTHER FINANCING USES
Operating Transfer Out - Miscellaneous 1,198,809 1,198,809 1,198,809 100.00% 38,809 1,160,000 2989.00% Operating Transfer Out - Debt Services 1,402,440 1,402,440 1,402,440 100.00% 1,402,275 165 0.01% Operating Transfer Out - Maintenance Dtrct 942,413 942,413 942,413 100.00% 842,700 99,713 11.83% Operating Transfer Out - Cemetery 796,000 796,000 796,000 100.00% 870,000 (74,000) -8.51% Operating Transfer Out - CIP 7,305,499 7,305,499 7,305,499 100.00% 8,641,613 (1,336,114) -15.46% Total Other Financing Uses 11,645,161 11,645,161 11,645,161 100.00% 11,795,397 (150,236) -1.27% STADIUM OPERATION 8,765,352 8, 793,722 4,941,465 56.19% 4,057,640 883,825 21.78% TOTAL GENERAL FUND 281,795,558$ 287,386,895$ 120,334,495$ 41.87% 116,463,457$ 3,871,038$ 3.32% Function

CITY OF SANTA CLARA

GENERAL FUND

EXPENDITURES OVERVIEW AND COMPARISON BY FUNCTION
FISCAL YEAR 2023/24 PY EXPENDITURES COMPARISON

8 City of Santa Clara
Financial Status Report as of November 30, 2023

General Fund Expenditures
Below is an explanation of certain budget to actual expenditure variances by department.

Non-Departmental: Includes expenditures that are not attributable to a single department, but a function of the City in general. Through November 30, 2023, expenditures totaled $4.3 million, or 27.6% of the budget. These expenditures are below the par level of 41.7%, but above prior year levels. This is a result of higher property insurance costs that have been directly budgeted under Non-Departmental, as opposed to allocated out amongst the departments citywide.

City Attorney: Actual expenditures through November totaled approximately $1.1 million, which is

35.5% of the budget, which is below par. Spending is significantly below the total expenditures through the same time last fiscal year by 17%. This decrease is due to lower expenditures in the outside legal counsel services.

City Clerk: Through November, actual expenditures were tracking below budget at $0.7 million or approximately 31.6% of the budget. This expenditure level reflects a 15% decrease in spending compared to last fiscal year due to one-time Granicus costs that are paid every other year.

City Coun cil: Through November, expenditures were at 41.4% of budget, which is at par. This expenditure level is significantly above the prior year due to the reallocation of 1.0 Assistant to the City Manager position from the City Manager’s Office as approved as part of the FY 2023/24 and FY 2024/25 Adopted Operating Budget.

City Manager: The actual expenditures through November 30, 2023 totaled $1.4 million, or 23.1% of the budget, which is below par for this time of the year. Expenditures are approximately 24.8% lower compared with the spending level through the same period last fiscal year. This is a result of vacancy savings within the department and the reallocation of 1.0 Assistant to the City Manager position to the City Council as mentioned above.

Community Development Department: This department consists of three divisions: Planning, Building, and Housing and Community Services. The Building Division of this department is reflected in the Building Development Services Fund, which falls under the special revenue section of this report.

Through November, departmental expenditures for the Planning and Housing and Community Services divisions totaled $2.1 million, or 39.5% of the budget, which is at par. This expenditure level is 11.7% above the prior year is a result of higher salaries and benefits costs and higher contractual services spending in the current year.

Finance Depar tment: Through November, the Department’s expenditures totaled $6.9 million, or

34.6% of the budget, which is below par. This expenditure level is consistent with prior year levels.

Fire Department: Through November, actual expenditures totaled $27.5 million, or 43.5% of the budget, which is above par of 41.7%. These expenditures reflect a 2% decrease from expenditures through the same period last fiscal year. This is primarily because, as approved as part of the FY 2023/24 and FY 2024/25 Adopted Operating Budget, approximately 9.0 positions were reallocated to

9 City of Santa Clara
Financial Status Report as of November 30, 2023

the newly established Fire Development Services Fee Fund. These charges are reflected under the special revenue section of this report.

Expenditures are tracking slightly over budget primarily due to higher overtime expenses that total 70% of the budget through November as well as compensatory time payout expenditures. Overtime is used to backfill for shift absences and vacant shift positions to maintain daily minimum staffing. When the budget was developed, it was assumed that overtime costs would be higher in the first half of the year while firefighters in the recruit academy were in training. These newly trained firefighters began providing relief staffing effective December 8, 2023. With these relief positions, overtime costs are expected to be lower in the second half of the fiscal year. However, it is anticipated that overtime expenditures will exceed the budget as the current absence rate exceeds the estimate used in the development of the budget.

When compared to the prior fiscal year, absences are up 32% through November (from 27,727 to 36,695 hours). This reflects increases in workers’ compensation/injury leave, modified duty, Family Medical Leave Act leave, sick leave, and compensatory time used. In addition, it is important to note that employees can elect for compensatory time over overtime pay when backfilling shift absences, which increases the need to backfill when the compensatory time is used.

The Fire Department will continue to monitor its absences and budget. Any necessary budget adjustments will be brought forward by year-end.

Library Department: Through November, actual expenditures totaled $4.2 million, or 37% of the budget, which is slightly below par and below expenditure levels last fiscal year. The Library continues to hire staff and fill vacancies to restore library hours.

Parks and Recreation Department: Through November 30, 2023, actual expenditures totaled $8.9 million, or 39.4% of the budget, which is below par but slightly higher than prior year actuals of $8.7 million. This is primarily due to higher spend in the salaries and benefits and utilities categories.

Police Department: Expenditures through November are tracking slightly below par at $35.2 million, or

40.9% of the budget. This expenditure level is 4.1% above the prior year, primarily due to higher personnel costs and operating supplies costs.

Stadium Oper ation: Stadium operating expenditures are incurred first and billed on a reimbursement basis creating a timing difference in revenue recognition. Stadium expenditures totaled $4.9 million through November, which is significantly higher than prior year levels. This is primarily due to higher personnel spend, particularly in overtime. Events at the Stadium during November included one NFL game.

10 City of Santa Clara
Financial Status Report as of November 30, 2023

Special Revenue Funds
The table below is a summary of revenues and expenditures of select Special Revenue Funds as of November 30, 2023. The amended budget reflects carryover encumbrances from fiscal year 2022/23 and budget amendments approved by the City Council through November 2023. Effective July 1, 2023, development related services in the Fire Department have been reallocated from the General Fund to the newly established Fire Development Services Fund, reflected below.

Revenues totaled approximately $8.9 million, while expenditures totaled $8.3 million through the end of November. Overall, revenues and expenditures are tracking below par of 41.7%. In the Housing Successor Fund, the expenditures are significantly lower compared to last fiscal year due to a one-time special disbursement for a housing loan that occurred in July 2022. Last fiscal year, there was also a negative expenditure in the City Affordable Housing Fund due to an accounting change in the disbursements category.

Actual Actual $
Fund Adopted Amended Through Percentage Through Change From Percent Description Budget Budget 11/30/2023 Received 11/30/2022 Prior Year Change Housing Authority Fund 252,495$ 252,495$ 71,966$ 28.50% 38,086$ 33,880$ 88.96% City Affordable Housing Fund 1,166,720 1,166,720 147,785 12.67% 197,051 (49,266) -25.00% Housing Successor Fund 1,306,326 1,306,326 287,450 22.00% 436,471 (149,021) -34.14% Housing and Urban Development 3,106,041 3,106,041 473,858 15.26% 423,977 49,881 11.77% Building Development Services Fee
Fund
15,611,000 15,611,000 6,444,061 41.28% 9,135,817 (2,691,756) -29.46% Fire Development Services Fee
Fund
2,935,000 2,935,000 1,512,435 51.53% - 1,512,435 N/A TOTAL 24,377,582$ 24,377,582$ 8,937,555$ 36.66% 10,231,402$ (1,293,847)$ -12.65% Actual Actual $
Fund Adopted Amended through Percentage through Change From Percent Description Budget Budget 11/30/2023 Use d 11/30/2022 Prior Year Change Housing Authority Fund 457,193$ 518,659$ 71,294$ 13.75% 72,360$ (1,066)$ -1.47% City Affordable Housing Fund 6,683,926 7,435,503 396,981 5.34% (1,165,828) 1,562,809 -134.05% Housing Successor Fund 873,227 1,216,887 394,349 32.41% 2,590,456 (2,196,107) -84.78% Housing and Urban Development 3,993,723 4,753,782 548,622 11.54% 883,095 (334,473) -37.88% Building Development Services Fee
Fund
13,689,592 17,218,230 5,635,570 32.73% 5,488,870 146,700 2.67% Fire Development Services Fee
Fund
3,109,073 3,109,073 1,280,439 41.18% - 1,280,439 N/A TOTAL 28,806,734$ 34,252,134$ 8,327,255$ 24.31% 7,868,953$ 458,302$ 5.82%

PRIOR YEAR EXPENDITURE COMPARISON

CITY OF SANTA CLARA

SPECIAL REVENUE FUNDS

REVENUE AND EXPENDITURE - OVERVIEW AND COMPARISON BY FUND REVENUES - FISCAL YEAR 2023/24 PRIOR YEAR REVENUE COMPARISON EXPENDITURES - FISCAL YEAR 2023/24

11 City of Santa Clara
Financial Status Report as of November 30, 2023

Governmental Capital Improvement Funds
The table below lists the revenue for selected capital improvement funds. The amended budget reflects current year appropriations, prior year carryover, and budget amendments approved through November 2023. As of November 30, 2023, the capital fund revenue totaled $11.5 million.

REVENUES - FISCAL YEAR 2023/24
Actual
Fund Current Year Prior Year Total Amended Through Percentage Description Appropriation Carryforward Budget 11/30/2023 Received Parks & Recreation -$ 4,280,995$ 4,280,995$ 417,268$ 9.75% Streets & Highways 17,294,432 15,988,284 33,282,716 9,452,690 28.40% Storm Drain 4,454,000 - 4,454,000 605,773 13.60% Related Santa Clara Developer 977,582 - 977,582 1,022,009 104.54% Patrick Henry Drive Infrastructure
Improvement Fund
140,486 - 140,486 - 0.00% Tasman East Specific Infrastructure
Improvement Fund
- - - 40,741 N/A TOTAL 22,866,500$ 20,269,279$ 43,135,779$ 11,538,481$ 26.75%

CITY OF SANTA CLARA

GOVERNMENTAL CAPITAL IMPROVEMENT FUNDS

REVENUE - OVERVIEW AND COMPARISON BY SELECTED FUND

The table below lists the total amended budgeted amounts for expenditures in the Capital Improvement Funds. Similar to the revenue table, the amended expenditure budgets consist of current year appropriations, prior year carryover encumbrance balances in Governmental Capital Improvement Funds, and budget amendments approved through November 2023. As of November 30, 2023, capital fund expenditures totaled $17.0 million, or 9.9% of the amended budget, well below par of 41.7%.

As part of the adoption of the FY 2023/24 and FY 2024/25 biennial operating budget, some capital funds were carried over for projects that were not anticipated to be completed by June 30, 2023.

Necessary additional adjustments to the capital carryover amounts were included as part of the Budgetary Year-End Report for FY 2022/23 approved by the City Council approval on December 12, 2023. These adjustments will be reflected in the December Monthly Financial Report.

12 City of Santa Clara
Financial Status Report as of November 30, 2023

EXPENDITURES - FISCAL YEAR 2023/24
Actual
Fu
nd Current Year Prior Year Total Amended Through Percentage Description Appropriation Carryforward Budget 11/30/2023 Use d Parks & Recreation 2,719,457$ 38,184,533$ 40,903,990$ 5,437,529$ 13.29% Streets & Highways 29,575,900 62,604,298 92,180,198 9,261,995 10.05% Storm Drain 3,807,414 4,002,049 7,809,463 325,333 4.17% Fire 427,374 1,303,898 1,731,272 89,180 5.15% Library - 301,105 301,105 406 0.13% Public Buildings 1,590,019 9,319,499 10,909,518 898,751 8.24% General Gov't - Other 941,000 8,688,990 9,629,990 753,668 7.83% City Affordable Housing Capital Fund 3,344,484 1,600,000 4,944,484 - 0.00% Related Santa Clara Developer 977,582 523,109 1,500,691 226,699 15.11% Patrick Henry Drive Infrastructure
Improvement Fund
71,281 - 71, 281 7,096 9.95% Tasman East Specific Infrastructure
Improvement Fund
27,330 1,423, 145 1,450,475 7,096 0.49% TOTAL 43,481,841$ 127,950,626$ 171,432,467$ 17,007,753$ 9.92%

CITY OF SANTA CLARA

SUMMARY OF EXPENDITURES

GOVERNMENTAL CAPITAL IMPROVEMENT FUNDS

13 City of Santa Clara
Financial Status Report as of November 30, 2023

Enterprise Funds
The table below is a summary of revenues and expenses for the Enterprise Operating Funds as of November 30, 2023. Overall, revenues and expenditures are tracking below budgeted levels.

Actual Actual $
Fund Adopted Amended Through Percentage Through Change From Percent Description Budget Budget 11/30/2023 Received 11/30/2022 Prior Year Change Electric Utility Fund 1,008,222,211$ 1,008,222,211$ 265,710,082$ 26.35% 224,243,664$ 41,466,418$ 18.49% Water Utility Fund 60,726,490 60,726,490 23,734,164 39.08% 20,768,305 2,965,859 14.28% Sewer Utility Fund 73,500,825 78,500,825 30,732,634 39.15% 15,920,197 14,812,437 93.04% Cemetery Fund 750,000 750,000 190,860 25.45% 252,666 (61,806) -24.46% Solid Waste Utility Fund 39,577,957 39,577,957 14,272,756 36.06% 13,188,294 1,084,462 8.22% Water Recycling Fund 7,668,868 7,668,868 3,484,523 45.44% 2,875,608 608,915 21.18% TOTAL REVENUE 1,190,446,351$ 1,195,446,351$ 338,125,019$ 28.28% 277,248,734$ 60,876,285$ 21.96% Actual Actual $
Fund Adopted Amended through Percentage through Change From Percent Description Budget Budget 11/30/2023 Use d 11/30/2022 Prior Year Change Electric Utility Fund 681,590,706$ 687,147,483$ 232,110,390$ 33.78% 224,445,731$ 7,664,659$ 3.41% Water Utility Fund 54,015,131 56,158,029 17,788,870 31.68% 18,937,361 (1,148,491) -6.06% Sewer Utility Fund 53,980,961 54,497,527 16,615,937 30.49% 13,908,764 2,707,173 19.46% Cemetery Fund 1,534,349 1,534,349 450,224 29.34% 599,983 (149,759) -24.96% Solid Waste Utility Fund 38,782,622 42,314,984 13,002,913 30.73% 12,457,728 545,185 4.38% Water Recycling Fund 8,234,584 8,234,584 588,187 7.14% 3,534,465 (2,946,278) -83.36% TOTAL - Operating
Appropriations
838,138,353$ 849,886,956$ 280,556,521$ 33.01% 273,884,032$ 6,672,489$ 2.44% PRIOR YEAR EXPENSE COMPARISONEXPENSES - FISCAL YEAR 2023/24

CITY OF SANTA CLARA

ENTERPRISE OPERATING FUNDS

REVENUES AND EXPENSES - OVERVIEW AND COMPARISON BY FUND REVENUES - FISCAL YEAR 2023/24 PRIOR YEAR REVENUE COMPARISON

Both revenues and expenditures are tracking higher than the prior year levels. Revenues in the electric (which also includes the Electric Debt Service Fund), water, and sewer utility (which also includes the Sewer Debt Service Fund) and water recycling funds are primarily from customer service charges. The activity levels for these customer service charges also impact the resource and production costs on the expenditure side for these funds. In the Sewer Utility, the high revenue collection is due to the bond proceeds collected in the debt service fund.

In the Electric Utility Fund, higher debt retirement and resource costs were incurred this fiscal year, in addition to higher customer service and renewable energy collections. In the Cemetery Fund, expenditures are significantly lower than prior years due to vacancies. The significant drop in expenditure levels in the Water Recycling Fund is due to the timing of resource/production invoice payments.

14 City of Santa Clara
Financial Status Report as of November 30, 2023

A summary of revenue and expenses in the Enterprise Capital Improvement Funds is detailed in the table below. Actual revenue through November 30, 2023 totaled $17.3 million, consisting primarily of developer contributions in the Electric Utility Fund and sewer fees in the Sewer Utility Fund. Enterprise capital fund expenses totaled $38.1 million, or 6.6% of the amended budget. Similar to the general government capital funds, capital funds were carried over from FY 2022/23 as part of the FY 2023/24 and FY 2024/25 budget adoption process for those projects that were not expected to be completed by June 30, 2023. Additional necessary adjustments to the capital carryover amounts based on actual year-end expenditures were brought forward as part of the budgetary year-end report for FY 2022/23 approved by the City Council on December 12, 2023. These adjustments will be reflected in the December Monthly Financial Report.

Actual
Fund Current Year Pri or Year Total Amended Through Percentage Description Appropriation Carryforward Budget 11/30/2023 Received Electric Utility Fund 38,500,092$ 40,599,727$ 79,099,819$ 15,982,980$ 20.21% Water Utility Fund - - - 13,450 N/A Sewer Utility Fund - - - 1,330,514 N/A Solid Waste Utility Fund 258,000 - 258,000 6,964 2.70% Convention Center Capital
Fund
- - - 6,032 N/A TOTAL - Revenue 38,758,092$ 40,599, 727$ 79,357,819$ 17,339,940$ 21.85% Actual
Fund Current Year Prior Year To tal Amended Through Percentage Description Appropriation Carryforward Budget 11/30/2023 Use d Electric Utility Fund 355,591,815$ 161,038,869$ 516,630,684$ 27,077,049$ 5.24% Street Lighting (1) 125,000 3,452, 509 3,577,509 33,714 0.94% Water Utility Fund 6,114,502 5,316, 334 11,430,836 1,323,326 11.58% Sewer Utility Fund 13,721,802 28,349,075 42,070,876 8,885,909 21.12% Cemetery Fund - 245,335 245,335 - 0.00% Solid Waste Utility Fund 765,000 271,756 1,036,756 428,370 41.32% Water Recycling Fund 50,000 - 50,000 12,980 25.96% Convention Center Capital
Fund
- 2,146,482 2, 146,482 335,101 15.61%

TOTAL - CIP
Appropriations
376,368,118$ 200,820,360$ 577, 188,478$ 38,096,449$ 6.60%

CITY OF SANTA CLARA

ENTERPRISE CAPITAL IMPROVEMENT FUNDS

SUMMARY OF EXPENSES
EXPENSES - FISCAL YEAR 2023/24

CITY OF SANTA CLARA

ENTERPRISE CAPITAL IMPROVEMENT FUNDS

REVENUE - OVERVIEW AND COMPARISON BY SELECTED FUND
REVENUES - FISCAL YEAR 2023/24

(1) Street Lighting fund is part of Electric Capital Improvement Funds

15 City of Santa Clara
Financial Status Report as of November 30, 2023

Fund Reserves
By policy, City Council established the City’s General Contingency Reserve, under which reserves for Budget Stabilization and Capital Projects were established. • Bud get Stabilization Reserve is set aside for weathering economic downturns, emergency financial crisis, or disaster situations. The reserve target is equal to the expenditures of the City’s General Fund operations for three months (90-day or 25% General Fund Adopted Operating Budget). In FY 2023/24, the City Council approved an exception to the policy to allow the Reserve to a minimum of 15% of expenditures.
• Capital Projects Reserve earmarks funds for the Capital Improvement Program.

Other General Reserves and Enterprise Fund Reserves included in this report are highlighted as follows:
• Technology Fee Reserve is set aside to update and/or replace the City’s aging technology and to ensure internal controls are in compliance with current business standard and legal requirements.
• L and Sale Reserve is net proceeds from the sale of City-owned land, with interest earned on these funds available to be appropriated for General Fund operating expenditures. This reserve is available for appropriation by City Council action.
• The Electric Utility Rate Stabilization Reserve and Operations and Maintenance Reserve assures sufficient operating cash is available to cover day-to-day expenses, address unforeseen cost increases or revenue shortfalls, and ensure debt service coverage. • The Replaceme nt and Improvement Reserve in the Water and Sewer Utility Funds is for future capital improvement.

The table below summarizes select reserve balances.

16 City of Santa Clara
Financial Status Report as of November 30, 2023

DETAIL OF SELECTED FUND RESERVE BALANCES:

GENERAL

FUND ELECTRIC WATER
Budget Stabilization Reserve 47,542,820$
Capital Projects Reserve 5,891,290
Reserve for Programmed Capital Projects 986,657
Land Sale Reserve 18,481,037
Technology Fee Reserve 2,581,146
Electric Rate Stabilization Fund Reserve 56,776,613$
Electric Operations and Maintenance Reserve 150,765,556 Replacement & Improvement 303,090$
TOTALS 75,482,950$ 207,542,169$ 303,090$

CITY OF SANTA CLARA

RESERVE BALANCES
November 30, 2023

Donations to the City of Santa Clara
Donations received by department during the month of November 2023 and for fiscal year 2023/24 are shown in the table below.

Department Nov-23
Fis cal Year
2023/24
Year
To Date Designated Use
City Manager's Office 50 251 Help Your Neighbor Parks & Recreation - 3,900 Case Management Parks & Recreation 1,637 1,770 Roberta Jones Jr. Theatre Parks & Recreation - 4, 350 Senior Nutrition Donation Parks & Recreation 475 30, 975 Wade Brummal Police - 75, 000 TEAM 200
TOTALS 2,162$ 116, 246$

_____________________________________________________________________

MONTHLY INVESTMENT REPORT

November 2023

City of
Santa Clara
The Center of What 's Possible
City of Santa Clara
Monthly Investment Report

TABLE OF CONTENTS
Page #
1 Summary of Investment Portfolio 1
2 Summary of Investments 5
3 Investment Maturity Distribution Schedule 6
4 Attachment A: Investment Inventory With Market Value 7 1 CITY OF SANTA CLARA

SUMMARY OF INVESTMENT PORTFOLIO

All securities held by the City of Santa Clara as of November 30, 2023 were in compliance with the City's Investment Policy Statement regarding current market strategy and long-term goals and objectives. All securities held are rated A or higher by two nationally recognized rating agencies. There is adequate cash flow and maturity of investments to meet the City’s needs for the next six months.

The following table provides the breakdown of the total portfolio among the City, the Sports and Open Space Authority (SOSA), and the Housing Authority (HA) as of November 30, 2023.

On November 30, 2023 the cost value and market value of the City's unrestricted pooled investment portfolio were $1,003,345,315 and $977,770,228 respectively.

Investment Strategy and Market Update
November was an about-face to market-wide risk sentiment as a less-hawkish Federal Reserve (Fed) fueled risk-on ‘everything.’ Bond returns posted multi-year bests and equities approached 12-month highs, as the reality of a soft-landing and the end of an historical rate hiking cycle took focus.

The November employment report showed non-farm payrolls increasing by 199,000, which was mostly in line with expectations.

The unemployment rate ticked down to 3.7% from 3.9% the month prior. The labor force participation rate inched back up to 62.8%, which is the highest rate seen since the pandemic.

After registering 3.7% in August and September, headline CPI fell to a lower-than-expected 3.2% in October with higher shelter costs offsetting lower gasoline prices. Core inflation, which excludes food and energy, fell from 4.1% to 4.0%, also below forecasts.

While both metrics of prices have consistently trended lower over the past several months, inflation is still above the Fed’s target of 2%.

Overall, U.S. Treasury yields rallied substantially as markets now widely accept and expect the Fed has likely reached the peak overnight target of this tightening cycle. The benchmark 2-, 5-, and 10-year U.S. Treasury notes finished the month at 4.68%,

4.27%, and 4.33%, moving down -41, -59, and -60 basis points during November, respectively.

COST VALUE PERCENTAGE
City $1,002,408,569 99.91%
SOSA 7,861

0.00%
HA 928,885 0.09% Unrestricted $1,003,345,315 100.00%
Restricted Bond Proceeds 2,279,199

Total Investments $1,005,624,514
2 The City's investment strategy for November 2023 was to invest funds not required to meet current obligations, in securities listed in the prevailing Investment Policy Statement, with maturities not to exceed five years from date of purchase. This strategy ensures safety of the City’s funds, provides liquidity to meet the City’s cash needs , and earns a reasonable portfolio return. PFM Asset Management LLC began actively managing the City’s securities portfolio on September 1, 2020.

As of November 30, 2023, 40.96% of the City’s portfolio consists of U.S. Treasury Notes, 18.68% consists of investment grade Corporate Notes, 13.24% consists of Federal Agencies, 12.38% consists of California Asset Management Program (CAMP), 5.80% consists of investment grade Mortgage -Backed Securities, 5.29% consists of investment grade Asset -Back Securities, 1.47% consists of Negotiable Certificates of Deposit, 1.10% consists of investment grade Supranational Obligations, 0.58% consists of Local Agency Investment Fund (LAIF), and 0.27% consists of investment grade Municipal Bonds. In addition, City bond proceeds are invested in separate funds and are not included in the calculation of the City’s portfolio yield.

U.S. Treasury Notes

40.96%
Federal Agency Notes

13.24%
Corporate Notes

18.68%
Municipal Bonds

0.27%
Supranational Obligations

1.10%
Asset-Backed Securities

5.29%
Negotiable Certificates of Deposit

1.47%
Mortgage-Backed Securities

5.80%
Money Market Fund

0.00%
Local Agency Investment Fund
(LAIF)

0.58%
California Asset Management
Program (CAMP)

12.38%
Mutual Fund - Traffic Mitigation
Bond Proceeds

0.23%
3 The City’s securities portfolio is benchmarked against the ICE BAML 1-5 US Treasury Index.

3.06%

3.66%

3.81%

0.00%

0.50%

1.00%

1.50%

2.00%

2.50%

3.00%

3.50%

4.00%
Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Securities Portfolio Yield at Cost vs Index 24-Month Average of Yield at Market Securities Portfolio (yield at cost)
City's Benchmark Index (24-month rolling average market yield) BofA 1-5 AAA-A Corp & Gov't Index (24-month rolling average market yield) r r r r r r r
4 The following table summarizes the investment yields other information of the City’s investment portfolio components, along with comparable-maturity market indices. Also shown are the monthly interest income and aggregate year-to-date income.

Current Month
11/30/2023
Investment Yield
Liquidity Portfolio1 5.50%
LAIF average monthly yield 3.84%

Securities Portfolio2 3.06%
ICE BAML 1-5 US Treasury Index (24-month rolling average market yield) 3.66% ICE BAML 1-5 AAA-A US Corporate & Government Index (24-month rolling average market yield) 3.81%

City Portfolio (Liquidity + Securities) 3.39%

Investment Total Return*
Securities Portfolio 1.48%
ICE BAML 1-5 US Treasury Index 1.48%
ICE BAML 1-5 AAA-A US Corporate & Government Index 1.60%

Average Maturity of Investments (in years)
Liquidity Portfolio1 0.08
Securities Portfolio2 2.72
City Portfolio (Liquidity + Securities) 2.36
ICE BAML 1-5 US Treasury Index 2.77
ICE BAML 1-5 AAA-A US Corporate & Government Index 2.77

Interest Income Current Month3 $ 1,962,082
Interest Income Fiscal Year-To-Date3 $ 10,775,472

1. Consists of CAMP Pool, LAIF, Dreyfus Traffic Mitigation Fund, & Principal Sweep Account

2. Core long term portfolio managed by PFM Asset Management

3. Cash basis
* Total rate of return including earnings, distributions, and capital appreciation/depreciation of all portfolio assets

5 CITY OF SANTA CLARA
SUMMARY OF INVESTMENTS NOVEMBER 30, 2023

PER
COST % OF INVESTMENT

INVESTMENT TYPE VALUE PORTFOLIO POLICY

U.S. Treasury Notes 411,947,332 40.96% No Limit Federal Agency Notes 133,163,329 13.24% 80% Corporate Notes 187,836,386 18.68% 25%
Municipal Bonds 2,715,000 0.27% 20%
Supranational Obligations 11,056,812 1.10% 20% Asset-Backed Securities 53,228,842 5.29% 10% Negotiable Certificates of Deposit 14,770,000 1.47% 30% Mortgage-Backed Securities 58,300,331 5.80% 15% Money Market Fund 26,595 0.00% 10% Per Fund Local Agency Investment Fund (LAIF) 5,813,383 0.58% $75 M California Asset Management Program (CAMP) 124,487,305 12.38% No Limit Mutual Fund - Traffic Mitigation Bond Proceeds 2,279,199 0.23% 10% Per Fund TOTAL INVESTMENTS $ 1,005,624,514 100.00%

6 0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
22%
24%

INVESTMENT MATURITY DISTRIBUTION

UNRESTRICTED POOLED PORTFOLIO
AS OF NOVEMBER 30, 2023

INVESTMENT MATURITY DISTRIBUTION
AS OF NOVEMBER 30, 2023

UNRESTRICTED POOLED PORTFOLIO

MATURITY NUMBER OF
(IN MONTHS) COST VALUE INVESTMENTS DISTRIBUTION

DEMAND $ 130,327,283 (a) 3 12.99%
0 TO 6 19,630,897 4 1.96%
7 TO 12 80,906,182 12 8.06%
13 TO 18 111,117,570 19 11.07%
19 TO 24 117,668,222 22 11.73%
25 TO 30 90,245,379 19 8.99%
31 TO 36 81,371,201 13 8.11%
37 TO 42 68,243,225 15 6.80%
43 TO 48 93,759,090 12 9.34%
49 TO 54 104,941,503 19 10.46%
55 TO 60 105,134,763 20 10.49%

TOTAL $ 1,003,345,315 158 100.00%

Average Maturity of Unrestricted Pool: 2.36 Years

(a) $20 million is earmarked for the City's Electric Utility power-trading.

City of Santa Clara Monthly Report
11/30/2023
Description Issue Date Coupon  Rate Maturity  Date CUSIP Par  Value S&P  Rating Settle  Date Cost  Value YTM  at Cost Market  Value Unrealized  G/L UNITED STATES TREASURY 6/15/2023 0.000% 12/14/2023 912797FU6 9,850,000.00 A-1+ 11/30/2023 9,829,899.16 5.26% 9,831,285.00 1,385.84 UNITED STATES TREASURY 7/15/2021 0.375% 7/15/2024 91282CCL3 2,910,000.00 AA+ 9/10/2021 2,908,181.25 0.40% 2,823,165.60 -85,015.65 UNITED STATES TREASURY 7/31/2017 2.125% 7/31/2024 9128282N9 5,000,000.00 AA+ 9/10/2019 5,133,315.75 1.56% 4,896,900.00 -236,415.75 UNITED STATES TREASURY 8/31/2017 1.875% 8/31/2024 9128282U3 2,985,000.00 AA+ 3/10/2020 3,149,640.66 0.62% 2,910,375.00 -239,265.66 UNITED STATES TREASURY 8/31/2019 1.250% 8/31/2024 912828YE4 4,750,000.00 AA+ 1/ 5/2021 4,928,867.19 0.21% 4,609,732.50 -319,134.69 UNITED STATES TREASURY 10/31/2017 2.250% 10/31/2024 9128283D0 10,000,000.00 AA+ 11/18/2019 10,290,625.00 1.64% 9,735,200.00 -555,425.00 UNITED STATES TREASURY 11/30/2017 2.125% 11/30/2024 9128283J7 5,000,000.00 AA+ 1/6/2020 5,118,945.31 1.62% 4,850,400.00 -268,545.31 UNITED STATES TREASURY 1/2/2018 2.250% 12/31/2024 9128283P3 10,000,000.00 AA+ 1/ 7/2020 10,300,781.25 1.62% 9,696,100.00 -604,681.25 UNITED STATES TREASURY 1/15/2022 1.125% 1/15/2025 91282CDS7 2,095,000.00 AA+ 4/12/2022 2,007,026.37 2.71% 2,004,160.80 -2,865.57 UNITED STATES TREASURY 1/31/2020 1.375% 1/31/2025 912828Z52 5,000,000.00 AA+ 4/22/2020 5,238,671.88 0.37% 4,790,050.00 -448,621.88 UNITED STATES TREASURY 1/31/2020 1.375% 1/31/2025 912828Z52 1,950,000.00 AA+ 5/7/2021 2,013,146.48 0.50% 1,868,119.50 -145,026.98 UNITED STATES TREASURY 2/28/2018 2.750% 2/28/2025 9128283Z1 6,200,000.00 AA+ 3/6/2020 6,850,757.82 0.61% 6,028,756.00 -822,001.82 UNITED STATES TREASURY 6/30/2020 0.250% 6/30/2025 912828ZW3 10,860,000.00 AA+ 10/5/2023 9,991,200.00 5.12% 10,100,668.80 109,468.80 UNITED STATES TREASURY 8/31/2020 0.250% 8/31/2025 91282CAJ0 4,120,000.00 AA+ 8/2/2021 4,075,581.25 0.52% 3,807,786.40 -267,794.85 UNITED STATES TREASURY 10/31/2020 0.250% 10/31/2025 91282CAT8 5,510,000.00 AA+ 6/7/2022 5,024,216.04 3.00% 5,062,092.10 37,876.06 UNITED STATES TREASURY 10/31/2020 0.250% 10/31/2025 91282CAT8 5,400,000.00 AA+ 10/ 7/2021 5,285,882.81 0.78% 4,961,034.00 -324,848.81 UNITED STATES TREASURY 11/30/2020 0.375% 11/30/2025 91282CAZ4 4,450,000.00 AA+ 11/4/2021 4,327,625.00 1.07% 4,086,524.00 -241,101.00 UNITED STATES TREASURY 12/31/2020 0.375% 12/31/2025 91282CBC4 3,820,000.00 AA+ 5/3/2021 3,751,956.25 0.76% 3,500,686.20 -251,270.05 UNITED STATES TREASURY 1/31/2019 2.625% 1/31/2026 9128286A3 10,490,000.00 AA+ 10/ 5/2023 9,948,699.61 5.01% 10,058,965.90 110,266.29 UNITED STATES TREASURY 1/31/2021 0.375% 1/31/2026 91282CBH3 8,710,000.00 AA+ 5/3/2022 7,905,345.70 3.00% 7,952,317.09 46,971.39 UNITED STATES TREASURY 1/31/2021 0.375% 1/31/2026 91282CBH3 4,050,000.00 AA+ 1/6/2022 3,906,351.56 1.27% 3,697,690.51 -208,661.05 UNITED STATES TREASURY 1/31/2021 0.375% 1/31/2026 91282CBH3 7,735,000.00 AA+ 2/25/2022 7,305,949.22 1.84% 7,062,132.35 -243,816.87 UNITED STATES TREASURY 1/31/2021 0.375% 1/31/2026 91282CBH3 8,025,000.00 AA+ 11/30/2021 7,817,478.52 1.01% 7,326,905.25 -490,573.27 UNITED STATES TREASURY 2/28/2021 0.500% 2/28/2026 91282CBQ3 5,175,000.00 AA+ 12/7/2021 5,067,214.15 1.15% 4,725,603.00 -341,611.15 UNITED STATES TREASURY 2/28/2021 0.500% 2/28/2026 91282CBQ3 3,575,000.00 AA+ 8/31/2021 3,542,880.86 0.70% 3,264,547.00 -278,333.86 UNITED STATES TREASURY 5/31/2021 0.750% 5/31/2026 91282CCF6 9,250,000.00 AA+ 6/8/2022 8,477,480.47 2.99% 8,429,062.50 -48,417.97 UNITED STATES TREASURY 5/31/2021 0.750% 5/31/2026 91282CCF6 5,860,000.00 AA+ 3/21/2022 5,520,989.84 2.20% 5,339,925.00 -181,064.84 UNITED STATES TREASURY 8/15/2016 1.500% 8/15/2026 9128282A7 5,350,000.00 AA+ 8/ 15/2022 5,033,388.67 3.08% 4,942,918.50 -90,470.17 UNITED STATES TREASURY 9/15/2023 4.625% 9/15/2026 91282CHY0 10,000,000.00 AA+ 10/3/2023 9,930,468.75 4.88% 10,034,400.00 103,931.25 UNITED STATES TREASURY 9/30/2021 0.875% 9/30/2026 91282CCZ2 8,500,000.00 AA+ 4/5/2022 7,878,769.53 2.61% 7,701,510.00 -177,259.53 UNITED STATES TREASURY 10/31/2021 1.125% 10/31/2026 91282CDG3 5,700,000.00 AA+ 8/8/2022 5,267,601.56 3.05% 5,184,777.00 -82,824.56 UNITED STATES TREASURY 11/15/2016 2.000% 11/15/2026 912828U24 8,840,000.00 AA+ 6/8/2022 8,472,242.19 3.01% 8,242,946.40 -229,295.79 UNITED STATES TREASURY 12/31/2021 1.250% 12/31/2026 91282CDQ1 5,340,000.00 AA+ 4/14/2022 5,000,617.97 2.69% 4,858,545.60 -142,072.37 UNITED STATES TREASURY 2/15/2017 2.250% 2/15/2027 912828V98 7,910,000.00 AA+ 7/ 7/2022 7,705,452.34 2.85% 7,398,934.90 -306,517.44 UNITED STATES TREASURY 2/15/2017 2.250% 2/15/2027 912828V98 2,100,000.00 AA+ 4/ 20/2022 2,040,691.41 2.88% 1,964,319.00 -76,372.41 UNITED STATES TREASURY 2/15/2017 2.250% 2/15/2027 912828V98 5,400,000.00 AA+ 6/ 13/2022 5,159,109.38 3.29% 5,051,106.00 -108,003.38 UNITED STATES TREASURY 3/31/2022 2.500% 3/31/2027 91282CEF4 940,000.00 AA+ 11/30/2022 883,159.38 4.03% 884,812.60 1,653.22 UNITED STATES TREASURY 4/30/2020 0.500% 4/30/2027 912828ZN3 7,000,000.00 AA+ 8/ 3/2022 6,262,812.50 2.89% 6,138,930.00 -123,882.50 UNITED STATES TREASURY 5/15/2017 2.375% 5/15/2027 912828X88 5,400,000.00 AA+ 8/ 8/2022 5,248,546.88 3.01% 5,049,000.00 -199,546.88 UNITED STATES TREASURY 6/30/2020 0.500% 6/30/2027 912828ZV5 5,675,000.00 AA+ 8/15/2022 5,034,789.06 3.00% 4,947,011.00 -87,778.06 UNITED STATES TREASURY 7/31/2022 2.750% 7/31/2027 91282CFB2 10,800,000.00 AA+ 9/14/2022 10,392,046.88 3.60% 10,200,492.00 -191,554.88 UNITED STATES TREASURY 8/15/1997 6.375% 8/15/2027 912810FA1 9,390,000.00 AA+ 10/5/2023 9,913,052.34 4.78% 10,004,387.70 91,335.36 UNITED STATES TREASURY 8/15/2017 2.250% 8/15/2027 9128282R0 11,115,000.00 AA+ 9/6/2022 10,537,975.20 3.40% 10,304,827.65 -233,147.55 UNITED STATES TREASURY 9/30/2022 4.125% 9/30/2027 91282CFM8 3,785,000.00 AA+ 11/ 3/2022 3,760,308.79 4.27% 3,749,950.90 -10,357.89 12/13/2023 4:24 PM 1 of 5
Attachment A
City of Santa Clara Monthly Report
11/30/2023
Description Issue Date Coupon  Rate Maturity  Date CUSIP Par  Value S&P  Rating Settle  Date Cost  Value YTM  at Cost Market  Value Unrealized  G/L UNITED STATES TREASURY 10/31/2020 0.500% 10/31/2027 91282CAU5 21,480,000.00 AA+ 1/6/2023 18,292,401.56 3.91% 18,505,449.60 213,048.04 UNITED STATES TREASURY 10/31/2022 4.125% 10/31/2027 91282CFU0 10,930,000.00 AA+ 12/8/2022 11,081,995.31 3.81% 10,828,788.20 -253,207.11 UNITED STATES TREASURY 10/31/2022 4.125% 10/31/2027 91282CFU0 4,750,000.00 AA+ 1/ 31/2023 4,833,310.55 3.72% 4,706,015.00 -127,295.55 UNITED STATES TREASURY 10/31/2022 4.125% 10/31/2027 91282CFU0 5,100,000.00 AA+ 12/ 13/2022 5,165,343.75 3.83% 5,052,774.00 -112,569.75 UNITED STATES TREASURY 12/31/2022 3.875% 12/31/2027 91282CGC9 8,255,000.00 AA+ 1/31/2023 8,320,459.57 3.70% 8,104,428.80 -216,030.77 UNITED STATES TREASURY 12/31/2022 3.875% 12/31/2027 91282CGC9 4,850,000.00 AA+ 2/2/2023 4,906,078.13 3.62% 4,761,536.00 -144,542.13 UNITED STATES TREASURY 12/31/2022 3.875% 12/31/2027 91282CGC9 7,325,000.00 AA+ 2/8/2023 7,333,583.98 3.85% 7,191,392.00 -142,191.98 UNITED STATES TREASURY 1/31/2021 0.750% 1/31/2028 91282CBJ9 5,815,000.00 AA+ 2/7/2023 5,009,758.79 3.83% 5,020,671.00 10,912.21 UNITED STATES TREASURY 1/31/2023 3.500% 1/31/2028 91282CGH8 7,505,000.00 AA+ 5/16/2023 7,508,517.97 3.49% 7,260,186.90 -248,331.07 UNITED STATES TREASURY 2/28/2023 4.000% 2/29/2028 91282CGP0 7,360,000.00 AA+ 5/16/2023 7,532,500.00 3.46% 7,258,800.00 -273,700.00 UNITED STATES TREASURY 2/28/2023 4.000% 2/29/2028 91282CGP0 6,600,000.00 AA+ 3/7/2023 6,526,781.25 4.25% 6,509,250.00 -17,531.25 UNITED STATES TREASURY 3/31/2021 1.250% 3/31/2028 91282CBS9 5,820,000.00 AA+ 5/9/2023 5,236,408.59 3.50% 5,110,251.00 -126,157.59 UNITED STATES TREASURY 3/31/2021 1.250% 3/31/2028 91282CBS9 5,470,000.00 AA+ 5/10/2023 4,912,530.08 3.54% 4,802,933.50 -109,596.58 UNITED STATES TREASURY 3/31/2023 3.625% 3/31/2028 91282CGT2 5,765,000.00 AA+ 5/4/2023 5,816,569.73 3.42% 5,601,504.60 -215,065.13 UNITED STATES TREASURY 3/31/2023 3.625% 3/31/2028 91282CGT2 5,030,000.00 AA+ 5/2/2023 5,023,712.50 3.65% 4,887,349.20 -136,363.30 UNITED STATES TREASURY 4/30/2023 3.500% 4/30/2028 91282CHA2 5,075,000.00 AA+ 5/2/2023 5,042,488.28 3.64% 4,904,733.75 -137,754.53 UNITED STATES TREASURY 5/31/2023 3.625% 5/31/2028 91282CHE4 11,735,000.00 AA+ 6/5/2023 11,695,577.73 3.70% 11,401,726.00 -293,851.73 UNITED STATES TREASURY 6/30/2023 4.000% 6/30/2028 91282CHK0 11,300,000.00 AA+ 7/10/2023 11,117,699.22 4.36% 11,146,885.00 29,185.78 UNITED STATES TREASURY 6/30/2023 4.000% 6/30/2028 91282CHK0 1,700,000.00 AA+ 7/3/2023 1,687,183.59 4.17% 1,676,965.00 -10,218.59 UNITED STATES TREASURY 7/31/2023 4.125% 7/31/2028 91282CHQ7 4,950,000.00 AA+ 8/2/2023 4,921,962.89 4.25% 4,908,816.00 -13,146.89 UNITED STATES TREASURY 8/31/2023 4.375% 8/31/2028 91282CHX2 1,735,000.00 AA+ 8/31/2023 1,742,726.17 4.28% 1,739,476.30 -3,249.87 U.S. Treasury Bond / Note Subtotal 424,565,000.00 411,947,331.87 401,458,985.60 -10,488,346.27 FANNIE MAE 7/8/2019 1.750% 7/2/2024 3135G0V75 15,000,000.00 AA+ 12/18/2019 15,566,089.75 0.90% 14,692,500.00 -873,589.75 FANNIE MAE 1/10/2020 1.625% 1/7/2025 3135G0X24 7,500,000.00 AA+ 1/ 22/2020 7,499,025.00 1.63% 7,222,350.00 -276,675.00 FANNIE MAE 4/24/2020 0.625% 4/22/2025 3135G03U5 10,000,000.00 AA+ 5/7/2020 10,050,600.00 0.52% 9,423,600.00 -627,000.00 FANNIE MAE 11/12/2020 0.500% 11/7/2025 3135G06G3 1,860,000.00 AA+ 12/29/2020 1,864,929.00 0.44% 1,714,138.80 -150,790.20 FNMA Medium Term Note Subtotal 34,360,000.00 34,980,643.75 33,052,588.80 -1,928,054.95 FEDERAL FARM CREDIT BANKS 4/22/2019 2.450% 7/22/2024 3133EKHV1 5,000,000.00 AA+ 9/4/2019 5,250,650.00 1.38% 4,914,500.00 -336,150.00 FEDERAL FARM CREDIT BANKS 11/1/2019 1.650% 11/1/2024 3133EK4Y9 5,000,000.00 AA+ 11/ 8/2019 4,962,850.00 1.81% 4,842,550.00 -120,300.00 FEDERAL FARM CREDIT BANKS 1/23/2020 1.650% 1/23/2025 3133ELJM7 7,320,000.00 AA+ 5/18/2020 7,689,367.20 0.56% 7,032,470.40 -656,896.80 FEDERAL FARM CREDIT BANKS 5/14/2020 0.500% 5/14/2025 3133ELZM9 10,000,000.00 AA+ 5/15/2020 9,982,800.00 0.53% 9,369,200.00 -613,600.00 FEDERAL FARM CREDIT BANKS 6/9/2020 0.500% 6/9/2025 3133ELH23 10,000,000.00 AA+ 6/12/2020 9,997,540.00 0.50% 9,335,900.00 -661,640.00 FFCB Medium Term Note Subtotal 37,320,000.00 37,883,207.20 35,494,620.40 -2,388,586.80 FEDERAL FARM CREDIT BANKS 7/2/2020 0.500% 7/2/2025 3133ELR71 10,000,000.00 AA+ 7/14/2020 10,017,640.00 0.46% 9,321,100.00 -696,540.00 FFCB Coupon Note Subtotal 10,000,000.00 10,017,640.00 9,321,100.00 -696,540.00 FEDERAL HOME LOAN BANKS 5/8/2014 2.875% 6/14/2024 3130A1XJ2 5,000,000.00 AA+ 11/20/2019 5,270,205.00 1.64% 4,933,800.00 -336,405.00 FEDERAL HOME LOAN BANKS 11/6/2014 2.750% 12/13/2024 3130A3GE8 5,000,000.00 AA+ 3/12/2020 5,461,300.00 0.77% 4,876,950.00 -584,350.00 FHLB Medium Term Note Subtotal 10,000,000.00 10,731,505.00 9,810,750.00 -920,755.00 12/13/2023 4:24 PM 2 of 5
Attachment A
City of Santa Clara Monthly Report
11/30/2023
Description Issue Date Coupon  Rate Maturity  Date CUSIP Par  Value S&P  Rating Settle  Date Cost  Value YTM  at Cost Market  Value Unrealized  G/L FREDDIE MAC 2/14/2020 1.500% 2/12/2025 3137EAEP0 5,000,000.00 AA+ 5/20/2020 5,226,960.00 0.53% 4,799,700.00 -427,260.00 FREDDIE MAC 8/30/2022 4.050% 8/28/2025 3134GXS54 5,000,000.00 AA+ 8/30/2022 4,998,000.00 4.06% 4,908,100.00 -89,900.00 FREDDIE MAC 9/25/2020 0.375% 9/23/2025 3137EAEX3 9,390,000.00 AA+ 9/25/2020 9,361,736.10 0.44% 8,672,604.00 -689,132.10 FREDDIE MAC 9/18/2023 6.000% 9/18/2026 3134H1BW2 9,970,000.00 AA+ 10/5/2023 9,969,501.50 6.00% 9,967,706.90 -1,794.60 FREDDIE MAC 9/18/2023 6.000% 9/18/2026 3134H1BW2 5,770,000.00 AA+ 10/5/2023 5,769,134.50 6.01% 5,768,672.90 -461.60 FREDDIE MAC 10/10/2023 6.000% 10/10/2028 3134H1FT5 4,225,000.00 AA+ 10/10/2023 4,225,000.00 6.00% 4,231,971.25 6,971.25 FHLMC Medium Term Note Subtotal 39,355,000.00 39,550,332.10 38,348,755.05 -1,201,577.05 FANNIEMAE-ACES 7/1/2023 4.190% 7/1/2028 3136BQDE6 8,750,000.00 AA+ 11/30/2023 8,410,595.70 5.14% 8,444,546.25 33,950.55 FANNIEMAE-ACES 7/1/2023 4.190% 7/1/2028 3136BQDE6 7,600,000.00 AA+ 7/31/2023 7,471,156.25 4.58% 7,334,691.60 -136,464.65

FHLMC MULTIFAMILY
STRUCTURED P 1/30/2017 3.347% 11/1/2026 3137BTUM1 5,354,000.00 AA+ 5/24/2023 5,189,197.19 4.31% 5,117,942.14 -71,255.05

FHLMC MULTIFAMILY
STRUCTURED P 5/15/2017 3.224% 3/1/2027 3137BXQY1 8,000,000.00 AA+ 8/18/2023 7,546,250.00 4.98% 7,604,400.00 58,150.00

FHLMC MULTIFAMILY
STRUCTURED P 7/1/2017 3.243% 4/1/2027 3137F1G44 4,545,000.00 AA+ 8/18/2023 4,285,260.35 4.97% 4,313,250.45 27,990.10

FHLMC MULTIFAMILY
STRUCTURED P 8/1/2017 3.117% 6/1/2027 3137F2LJ3 6,525,000.00 AA+ 8/22/2023 6,101,894.53 5.01% 6,158,817.00 56,922.47

FHLMC MULTIFAMILY
STRUCTURED P 7/1/2023 4.819% 6/1/2028 3137HACX2 7,500,000.00 AA+ 7/20/2023 7,574,910.00 4.59% 7,455,000.00 -119,910.00

FHLMC MULTIFAMILY
STRUCTURED P 7/1/2023 4.777% 6/1/2028 3137HAD45 6,097,351.45 AA+ 7/27/2023 6,097,199.01 4.78% 6,030,646.43 -66,552.58

FHLMC MULTIFAMILY
STRUCTURED P 10/1/2023 4.740% 8/1/2028 3137HAQ74 5,750,000.00 AA+ 10/19/2023 5,623,868.00 5.26% 5,689,740.00 65,872.00 Federal Agency Commercial
Mortgage-Backed Security Subtotal 60,121,351.45 58,300,331.03 58,149,033.87 -151,297.16

INTER-AMERICAN
DEVELOPMENT BANK 9/23/2021 0.500% 9/23/2024 4581X0DZ8 11,065,000.00 AAA 9/23/2021 11,056,811.90 0.52% 10,644,419.35 -412,392.55 Supranational Subtotal 11,065,000.00 11,056,811.90 10,644,419.35 -412,392.55

LOS ANGELES COMMUNITY
COLLEGE DISTRICT C 11/10/2020 0.773% 8/1/2025 54438CYK2 2,715,000.00 AA+ 11/10/2020 2,715,000.00 0.77% 2,527,583.55 -187,416.45 Municipals Subtotal 2,715,000.00 2,715,000.00 2,527,583.55 -187,416.45 3M COMPANY 3/27/2020 2.650% 4/15/2025 88579YBM2 2,560,000.00 BBB+ 4/25/2022 2,511,616.00 3.32% 2,463,436.80 -48,179.20 ADOBE INC 1/26/2015 3.250% 2/1/2025 00724FAC5 4,000,000.00 A+ 1/26/2022 4,183,680.00 1.68% 3,915,800.00 -267,880.00 ALPHABET INC 8/9/2016 1.998% 8/15/2026 02079KAC1 5,740,000.00 AA+ 1/30/2023 5,354,386.80 4.05% 5,354,501.60 114.80 AMAZON.COM INC 5/12/2021 0.450% 5/12/2024 023135BW5 4,000,000.00 AA 3/ 14/2022 3,932,438.89 1.94% 3,911,920.00 -20,518.89 AMAZON.COM INC 5/12/2021 0.450% 5/12/2024 023135BW5 245,000.00 AA 5/12/2021 244,642.30 0.50% 239,605.10 -5,037.20 AMAZON.COM INC 4/13/2022 3.300% 4/13/2027 023135CF1 6,715,000.00 AA 4/25/2022 6,672,964.10 3.44% 6,426,120.70 -246,843.40 APPLE INC 11/13/2017 2.750% 1/13/2025 037833DF4 5,000,000.00 AA+ 3/29/2021 5,355,200.00 0.84% 4,878,650.00 -476,550.00 APPLE INC 11/13/2017 2.750% 1/13/2025 037833DF4 5,000,000.00 AA+ 3/9/2021 5,340,100.00 0.94% 4,878,650.00 -461,450.00 BANK OF AMERICA CORP 3/22/2022 3.384% 4/2/2026 06051GKM0 5,000,000.00 A- 3/22/2022 5,005,100.00 3.36% 4,829,900.00 -175,200.00 BANK OF AMERICA CORP 8/18/2023 5.526% 8/18/2026 06428CAA2 4,000,000.00 A+ 8/18/2023 3,998,360.00 5.54% 4,030,880.00 32,520.0012/13/2023 4:24 PM 3 of 5 Attachment A
City of Santa Clara Monthly Report
11/30/2023
Description Issue Date Coupon  Rate Maturity  Date CUSIP Par  Value S&P  Rating Settle  Date Cost  Value YTM  at Cost Market  Value Unrealized  G/L BANK OF AMERICA CORP 4/22/2021 1.734% 7/22/2027 06051GJS9 1,420,000.00 A- 8/10/2022 1,281,251.80 3.92% 1,281,805.60 553.80 BANK OF NY MELLON CORP 1/28/2021 0.750% 1/28/2026 06406RAQ0 9,000,000.00 A 2/10/2021 9,025,920.00 0.69% 8,196,390.00 -829,530.00 BLACKROCK INC 3/28/2017 3.200% 3/15/2027 09247XAN1 4,140,000.00 AA- 5/18/2022 4,086,055.80 3.50% 3,947,200.20 -138,855.60 BLACKROCK INC 3/28/2017 3.200% 3/15/2027 09247XAN1 4,140,000.00 AA- 5/18/2022 4,085,352.00 3.50% 3,947,200.20 -138,151.80 BRISTOL-MYERS SQUIBB CO 11/13/2020 0.750% 11/13/2025 110122DN5 5,725,000.00 A+ 6/ 30/2021 5,672,673.50 0.96% 5,295,739.50 -376,934.00 CITIGROUP INC 9/29/2023 5.803% 9/29/2028 17325FBB3 11,225,000.00 A+ 9/29/2023 11,225,000.00 5.80% 11,449,500.00 224,500.00 ELI LILLY & CO 3/5/2015 2.750% 6/1/2025 532457BH0 5,415,000.00 A+ 2/10/2022 5,559,255.60 1.91% 5,239,878.90 -319,376.70 HERSHEY COMPANY 8/21/2015 3.200% 8/21/2025 427866AU2 3,000,000.00 A 3/30/2022 3,014,040.00 3.05% 2,910,840.00 -103,200.00 HOME DEPOT INC 9/14/2017 2.800% 9/14/2027 437076BT8 7,805,000.00 A 1/ 27/2023 7,364,719.95 4.15% 7,280,660.10 -84,059.85 HONEYWELL INTERNATIONAL 5/18/2020 1.350% 6/1/2025 438516CB0 5,000,000.00 A 9/8/2021 5,097,900.00 0.82% 4,732,450.00 -365,450.00 HONEYWELL INTERNATIONAL 5/18/2020 1.350% 6/1/2025 438516CB0 2,255,000.00 A 3/22/2022 2,181,960.55 2.41% 2,134,334.95 -47,625.60 JOHN DEERE CAPITAL CORP 6/17/2021 1.050% 6/17/2026 24422EVR7 5,000,000.00 A 12/8/2021 4,908,600.00 1.47% 4,540,700.00 -367,900.00 JOHN DEERE CAPITAL CORP 7/14/2023 4.950% 7/14/2028 24422EXB0 605,000.00 A 7/ 18/2023 610,874.55 4.73% 606,040.59 -4,833.96 JOHN DEERE CAPITAL CORP 7/14/2023 4.950% 7/14/2028 24422EXB0 505,000.00 A 7 /14/2023 504,247.55 4.98% 505,868.61 1,621.06 JOHNSON & JOHNSON 8/25/2020 0.550% 9/1/2025 478160CN2 5,000,000.00 AAA 9/ 3/2020 5,023,550.00 0.45% 4,647,500.00 -376,050.00 JPMORGAN CHASE & CO 8/10/2021 0.768% 8/9/2025 46647PCM6 2,340,000.00 A- 8/10/2021 2,340,000.00 0.77% 2,253,747.60 -86,252.40 JPMORGAN CHASE & CO 3/13/2020 2.005% 3/13/2026 46647PBH8 2,800,000.00 A- 3/22/2022 2,712,500.00 2.84% 2,666,916.00 -45,584.00 JPMORGAN CHASE & CO 4/22/2021 1.578% 4/22/2027 46647PCB0 4,100,000.00 A- 8/10/2022 3,710,746.00 3.80% 3,733,009.00 22,263.00 JPMORGAN CHASE & CO 2/24/2022 2.947% 2/24/2028 46647PCW4 2,925,000.00 A- 9/18/2023 2,674,532.25 5.13% 2,709,486.00 34,953.75 MASTERCARD INC 12/3/2019 2.000% 3/3/2025 57636QAN4 5,000,000.00 A+ 3/10/2022 4,990,800.00 2.06% 4,814,400.00 -176,400.00 MASTERCARD INC 12/3/2019 2.000% 3/3/2025 57636QAN4 5,000,000.00 A+ 3/9/2021 5,213,450.00 0.91% 4,814,400.00 -399,050.00 MERCK & CO INC 3/7/2019 2.900% 3/7/2024 58933YAU9 5,375,000.00 A+ 11/23/2021 5,623,916.25 0.85% 5,340,922.50 -282,993.75 MICROSOFT CORP 2/12/2015 2.700% 2/12/2025 594918BB9 5,000,000.00 AAA 3/9/2021 5,341,700.00 0.92% 4,863,850.00 -477,850.00 MICROSOFT CORP 11/3/2015 3.125% 11/3/2025 594918BJ2 5,100,000.00 AAA 1/25/2023 4,940,982.00 4.33% 4,943,226.00 2,244.00 NOVARTIS CAPITAL CORP 11/20/2015 3.000% 11/20/2025 66989HAJ7 10,000,000.00 AA- 1/31/2023 9,638,600.00 4.38% 9,648,600.00 10,000.00 QUALCOMM INC 5/20/2015 3.450% 5/20/2025 747525AF0 5,850,000.00 A 5/19/2022 5,860,588.50 3.39% 5,711,998.50 -148,590.00 STATE STREET BANK & TR 2/7/2022 1.746% 2/6/2026 857477BR3 1,115,000.00 A 2/7 /2022 1,115,000.00 1.75% 1,062,739.95 -52,260.05 STATE STREET BANK & TR 10/29/2020 2.901% 3/30/2026 857477BM4 4,250,000.00 A 3/14/2022 4,275,372.50 2.74% 4,095,767.50 -179,605.00 TARGET CORP 1/24/2022 1.950% 1/15/2027 87612EBM7 4,595,000.00 A 2/1/2022 4,567,889.50 2.08% 4,224,872.75 -343,016.75 TARGET CORP 1/24/2022 1.950% 1/15/2027 87612EBM7 990,000.00 A 1 /24/2022 988,317.00 1.99% 910,255.50 -78,061.50 TOYOTA MOTOR CREDIT CORP 9/11/2023 5.250% 9/11/2028 89236TLB9 5,600,000.00 A+ 9/11/2023 5,590,256.00 5.29% 5,662,720.00 72,464.00 WAL-MART STORES INC 6/27/2018 3.550% 6/26/2025 931142ED1 5,700,000.00 AA 2/8/2022 6,011,847.00 1.87% 5,578,932.00 -432,915.00 Corporate Note Subtotal 188,235,000.00 187,836,386.39 180,681,416.15 -7,154,970.24

AMERICAN EXPRESS CREDIT
ACCOUN 9/19/2023 5.230% 9/15/2028 02582JKD1 6,170,000.00 AAA 9/19/2023 6,169,724.20 5.23% 6,196,284.20 26,560.00 BANK OF AMERICA AUTO TRUST 7/31/2023 5.530% 2/15/2028 06428AAC2 3,120,000.00 NR 7/31/2023 3,119,881.75 5.53% 3,122,215.20 2,333.45 BANK OF AMERICA AUTO TRUST 11/21/2023 5.740% 6/15/2028 06054YAC1 6,595,000.00 NR 11/21/2023 6,594,880.63 5.74% 6,595,000.00 119.37 CARMAX AUTO OWNER TRUST 4/21/2021 0.520% 2/17/2026 14314QAC8 1,044,572.99 AAA 4/21/2021 1,044,347.90 0.52% 1,018,761.59 -25,586.31 CHASE ISSUANCE TRUST 9/15/2023 5.160% 9/15/2028 161571HT4 6,045,000.00 AAA 9/ 15/2023 6,043,324.33 5.17% 6,070,086.75 26,762.42

DISCOVER CARD EXECUTION
NOTE TRUST 9/27/2021 0.580% 9/15/2026 254683CP8 2,100,000.00 AAA 9/27/2021 2,099,550.39 0.58% 2,018,184.00 -81,366.39 FIFTH THIRD AUTO TRUST 8/23/2023 5.530% 8/15/2028 31680EAD3 5,270,000.00 AAA 8/23/2023 5,269,673.26 5.53% 5,295,401.40 25,728.14

HONDA AUTO RECEIVABLES
OWNER T 11/24/2021 0.880% 1/21/2026 43815GAC3 1,207,852.04 NR 11/ 24/2021 1,207,597.42 0.89% 1,169,043.75 -38,553.67 12/13/2023 4:24 PM 4 of 5
Attachment A
City of Santa Clara Monthly Report
11/30/2023
Description Issue Date Coupon  Rate Maturity  Date CUSIP Par  Value S&P  Rating Settle  Date Cost  Value YTM  at Cost Market  Value Unrealized  G/L

HONDA AUTO RECEIVABLES
OWNER T 8/22/2023 5.410% 2/18/2028 43815QAC1 4,825,000.00 AAA 8/22/2023 4,824,005.09 5.42% 4,839,233.75 15,228.66

HYUNDAI AUTO RECEIVABLES
TRUST 4/28/2021 0.380% 9/15/2025 44933LAC7 528,118.54 AAA 4/ 28/2021 528,062.98 0.38% 519,737.30 -8,325.68

HYUNDAI AUTO RECEIVABLES
TRUST 11/17/2021 0.740% 5/15/2026 44935FAD6 925,528.61 AAA 11/17/2021 925,322.04 0.75% 897,660.94 -27,661.10

HYUNDAI AUTO RECEIVABLES
TRUST 11/13/2023 5.540% 10/16/2028 44918CAD4 2,530,000.00 AAA 11/13/2023 2,529,667.31 5.54% 2,552,997.70 23,330.39 KUBOTA CREDIT OWNER TRUST 7/26/2023 5.280% 1/18/2028 500945AC4 1,925,000.00 NR 7/ 26/2023 1,924,513.75 5.29% 1,920,168.25 -4,345.50

TOYOTA AUTO RECEIVABLES
OWNER 9/27/2021 0.430% 1/15/2026 89239BAC5 1,690,007.76 AAA 9/27/2021 1,689,873.07 0.43% 1,640,186.33 -49,686.74

TOYOTA AUTO RECEIVABLES
OWNER 8/15/2023 5.160% 4/17/2028 89231FAD2 1,505,000.00 AAA 8/15/2023 1,504,659.57 5.17% 1,503,555.20 -1,104.37

TOYOTA AUTO RECEIVABLES
OWNER 11/14/2023 5.540% 8/15/2028 89239FAD4 1,725,000.00 AAA 11/14/2023 1,724,814.05 5.54% 1,741,542.75 16,728.70 USAA AUTO OWNER TRUST 9/15/2023 5.580% 5/15/2028 90291VAC4 6,030,000.00 AAA 9/15/2023 6,028,944.75 5.58% 6,051,828.60 22,883.85 Asset-Backed Security Subtotal 53,236,079.94 53,228,842.49 53,151,887.71 -76,954.78 COOPERATIEVE RABOBANK U.A. 7/20/2023 5.080% 7/17/2026 21684LGS5 7,500,000.00 A+ 7/20/2023 7,500,000.00 5.08% 7,536,675.00 36,675.00

TORONTO DOMINION BANK N
Y 10/31/2022 5.470% 10/25/2024 89115B6F2 7,270,000.00 A 10/31/2022 7,270,000.00 5.44% 7,265,129.10 -4,870.90 Certificate of Deposit Subtotal 14,770,000.00 14,770,000.00 14,801,804.10 31,804.10

PRINCIPAL PUBLIC DEPOSIT
SWEEP PROGRAM 5.290% 12/1/2023 992995944 26,594.88 9/1/2020 26,594.88 26,594.88 -

LOCAL AGENCY INVESTMENT
FUND 3.843% 12/1/2023 5,813,383.07 9/30/1997 5,813,383.07 5,813,383.07 -

CALIFORNIA ASSET
MANAGEMENT PROGRAM 5.580% 12/1/2023 124,487,304.86 10/4/2022 124,487,304.86 124,487,304.86 -

DREYFUS TREASUR
Y 5.270% 12/1/2023 2,279,199.47 10/31/1997 2,279,199.47 2,279,199.47 - Cash Equivalent Subtotal 132,606,482.28 132,606,482.28 132,606,482.28 - Grand Total Count 159 1,018,348,913.67 1,005,624,514.01 980,049,426.86 (25,575,087.15) 12/13/2023 4:24 PM 5 of 5
Attachment A

_____________________________________________________________________

MONTHLY FINANCIAL STATUS REPORT

December 2023

City of
Santa Clara
The Center of What 's Possible

1 City of Santa Clara
Financial Status Report as of December 31, 2023

This report summarizes the City’s financial performance for the month ended December 31, 2023.

Financial analysis for the report is provided for the General Fund, select Special Revenue Funds, Enterprise Operating Funds, and Capital Improvement Funds. Financial information included in this report is unaudited.

Economic Outlook
While there are varying forecasts, economic growth is expected to be constrained in 2024. The December 2023 UCLA Anderson Forecast is almost unchanged from its October 2023 and continues to assume no recession. “The oft-predicted but never seen “recession next quarter” has now faded in the face of expansionary fiscal policy, new national industrial policy, and a consumer who is happy to continue spending.” While a recession is no longer predicted, the higher interest rates are expected to restrain growth in 2024. Substantial risks to the forecast are also identified, including a potential shutdown of the government, the impact of geopolitical events, and the impact of the election on economic policies in 2025.1
Quarterly Real GDP Growth, Seasonally Adjusted Annual Rates

In its latest Forecast, The Conference Board predicts a “tepid start to 2024. While the prospects for a soft landing have risen we continue to believe that volatility awaits the US economy in this year. We forecast two quarters of slightly negative GDP growth in Q2 and Q3 2024 that will be broadly felt across the economy. However, late 2024 and 2025 should usher in a period of lower volatility and greater

1 UCLA Anderson Forecast, December 2023, 1995 Déjà Vu All Over Again: The U.S. Economic Outlook United States : GDP, real, LCU
%

7.5 5

2.5 0
-2.5 -l----------,..-----~----,-----+----.--~---~--,..-------- 202, 2022 2023 2024 2025
Source: UCLA Anderson Forocast, U.S. Bureau of Economic Analysis

2 City of Santa Clara
Financial Status Report as of December 31, 2023

predictability. Inflation and interest rates should normalize and GDP growth should converge to potential at just under 2 percent.”2
On a national level, the unemployment rate remained unchanged at 3.7% between November and December 2023. This rate was well below the record setting high of 14.7% in April 2020, but above the pre-pandemic unemployment rate of 3.5%. In December, the number of unemployed persons was unchanged at 6.3 million.3

In the fourth quarter 2023, the Gross Domestic Product (GDP) increased at an annual rate of 3.3% according to the “advance” estimate released by the Bureau of Economic Analysis. This follows a GDP increase of 4.9% in the third quarter 2023. The GDP increase reflected increases in consumer spending, exports, state and local government spending, nonresidential fixed investment, federal government spending, private inventory investment, and residential fixed investment. Compared to the third quarter, the GDP deceleration in the fourth quarter primarily reflected slowdowns in inventory investment, federal government spending, residential investments, and consumer spending.4

2 https:///www.conference-board.org/research/us-forecast, The Conference Board Economic Forecast for the US Economy, Updated January 11, 2024

3 https://www.bls.gov/news.release/pdf/empsit.pdf
4 https://www.bea.gov/sites/default/files/2024-01/tech4q23-adv.pdf ,Chart 1. Unemployment ralie, seascmal ly adjuste1!!\
Dec,ember 211211 - December 2023
Percent
J _O
2_5
~ -21 MaJ-22 JUl),22 Sep-22 De t, 22 Mar-23 Jtn, 2l Sep ,23 Dec ,2J Chart . 2. Nonfami paym ll @mployment ov r-tli'le-monlh change , seasonally at!jus.ted, December 21121 - December 202:3
Thousands.

1.000
900
800
700
600
500
400
3001
.200
1001
0 -100
-
Iii
I
I
-
-
l =IIF!.tiliil·
De 21 Mai-,2:2 Jtn 22 Sep-22 Dec-22 Mer-23 J tD-21 Sep ,23 Dec-23

3 City of Santa Clara
Financial Status Report as of December 31, 2023

At the state level, the California unemployment increased from 4.9% in November 2023 to 5.1% in December 2023. This rate is higher compared to the 4.1% rate in December 2022. From December 2022 to December 2023, California added 311,000 nonfarm jobs, an increase of 1.7%.5

The unadjusted unemployment rate in the San José-Sunnyvale-Santa Clara Metropolitan Statistical Area (MSA) was 4.0% in December 2023, up slightly from 3.9% in November 2023, and above the December 2022 estimate of 2.4%. Between December 2022 and December 2023, employment in this region increase by 10,500 jobs, or 0.9%. The largest increases were in private education and health services (up 10,900 jobs) and leisure and hospitality (up 8,500 jobs). Notable employment reductions were in manufacturing (down 3,600 jobs), information (down 3,500 jobs) and construction (down 2,600 jobs).6
General Fund
The General Fund is the major operating fund for the City and includes multiple programs, services, and activities for the residents and businesses of the City. The adopted budget for operating revenues and expenditures for fiscal year 2023/24 was $281.8 million. The amended budget for revenues and expenditures was adjusted to $290 million to reflect carryover encumbrances from fiscal year 2022/23 and various budget amendments approved by the City Council through December 2023. This budget also accounts for items approved by the City Council on December 12, 2023, as part of the FY 2022/23 Budget Year-End Report.

5 https://edd.ca.gov/en/about_edd/news_releases_and_announcements/unemployment-december-2023/ 6 https://labormarketinfo.edd.ca.gov/file/lfmonth/sjos$pds.pdf Real GDP:: Percent change from pre,cied ing quart er
40 30
20 10
0 -10
-20
-30
-40
Q1 Q2 Q3
2020
Q4 Ql Q2 Q3 Q4 01
2021
U 5. Bu rea,u of ~con om i c Ana lys,ij s
Q2 Q3 Q4 Ql Q2 Q3 Q4
2022 2023
Seasona lly adjusted a nnua l rat es

4 City of Santa Clara
Financial Status Report as of December 31, 2023

General Fund Revenues
As of December 31, 2023, $99.8 million or 36.3% of the General Fund estimated revenue (excluding transfers) was received. Transfers and use of reserves of $15.0 million have occurred as budgeted.

Adopted Budget
Amended
Budget
Actual Through
12/31/2023
Percentage
Received
Actual Through
12/31/2022
$
Change From
Prior Year
Percentage
Change
TAXES
Sales Tax 60,524,000$ 60,524,000$ 19,961,470$ 32.98% 21,401,195$ (1,439,725)$ -6.73% Property Tax 85,800,000 87,143,000 26,990,697 30.97% 24,964,596 2,026,101 8.12% Transient Occupancy Tax 21,275,000 21,275,000 6,208,270 29.18% 6,270,863 (62,593) -1.00% Other Taxes 6,750,000 6,750,000 1,946,435 28.84% 1,907,136 39,299 2.06% Total Taxes 174,349,000 175,692,000 55,106,872 31.37% 54,543,790 563,082 1.03%

LICENSES & PERMITS
Business Licenses 6,000,000 6,000,000 2,499,506 41.66% 430,508 2,068,998 480.59% Fire Operation Permits 2,000,000 2,000,000 809,905 40.50% 957,531 (147,626) -15.42% Miscellaneous Permits 69,000 69,000 3,200 4.64% 33,136 (29,936) -90.34% Total Licenses & Permits 8,069,000 8,069,000 3,312,611 41.05% 1,421,175 1,891,436 133.09% FINES & PENALTIES 1,225,000 1,225,000 1,215,516 99.23% 122,618 1,092,898 891.30% INTERGOVERNMENTAL 520,000 520,000 208,153 40.03% 253,516 (45,363) -17.89% CHARGES FOR SERVICES 29,314,768 29,816,268 15,546,311 52.14% 15,834,348 (288,037) -1.82% SILICON VALLEY POWER TRANSFER 32,000,000 32,000,000 16,455,125 51.42% 14,321,943 2,133,182 14.89%

USE OF MONEY & PROPERTY
Interest 3,500,000 3,500,000 283,276 8.09% 521,055 (237,779) -45.63% Rent 12,397,660 13,431,960 6,134,222 45.67% 5,216,896 917,326 17.58% Total Use of Money & Property 15,897,660 16,931,960 6,417,498 37.90% 5,737,951 679,547 11.84% MISCELLANEOUS REVENUES 180,000 180,000 177,749 98.75% 1,869,738 (1,691,989) -90.49%

OTHER FINANCING SOURCES
Operating Transfer In - Storm Drain 1,454,000 1,454,000 1,454,000 100.00% 1,454,000 - 0.00% Operating Transfer In - Reserves 2,772,275 8,097,132 8,097,132 100.00% 36,719,079 (28,621,947) -77.95% Operating Transfer In - Fund Balances(1) 4,759,683 4,759,683 4,759,683 100.00% 4,484,726 274,957 6.13% Operating Transfer In - Miscellaneous 746,044 746,044 746,044 100.00% 2,370,374 (1,624,330) -68.53% Total Other Financing Sources 9,732,002 15,056,859 15,056,859 100.00% 45,028,179 (29,971,320) -66.56%

STADIUM OPERATION
Charges for Services 9,278,128 9,278,128 1,375,924 14.83% 2,447,480 (1,071,556) -43.78% Rent and Licensing 1,230,000 1,230,000 69,313 5.64% 629,787 (560,474) -88.99% Total Stadium Operation 10,508,128 10,508,128 1,445,237 13.75% 3,077,267 (1,632,030) -53.04% TOTAL GENERAL FUND 281,795,558$ 289,999,215$ 114,941,930$ 39.64% 142,210,525$ (27,268,595)$ -19.17% (1) The Operating Transfer In - Fund Balances includes the carryover encumbrances of open purchase orders as of June 30, 2023 and mid year budget amendment from reserves.

Function

CITY OF SANTA CLARA

GENERAL FUND

REVENUES OVERVIEW AND COMPARISON BY TYPE
FISCAL YEAR 2023/24 PY REVENUE COMPARISON

5 City of Santa Clara
Financial Status Report as of December 31, 2023

General Fund Revenues
Sales Tax: The City of Santa Clara sales tax rate is 9.125%, of which the City receives 1.0%. As of December 31, 2023, approximately $20 million has been collected, which is 6.7% lower than prior year collection levels.

Data for the third quarter 2023 reflected a decrease of 6.2% when compared to the third quarter 2022.

Local business activity (excluding the Countywide pool and adjustments to prior periods) was down

1.1% in the third quarter 2023, reflecting declines in General Retail (down 5.9%), Transportation (down

6.1%) and Construction (down 11.7%) that were largely offset by growth in Business to Business (up

0.8%), and Food Products (up 14.4%). Activity in the Countywide pool was down 24.8%. This is the first decline after four quarters of growth experienced in FY 2022/23. Given the strong performance last fiscal year, receipts can decline by approximately 6% in the remaining three quarters of FY 2023/24 and still meet the budgeted estimate. Results for the fourth quarter 2023 will be available from the State in February. Internet sales represents a sizeable amount of the City’s sales tax revenue. The County pool, which includes internet sales, accounts for approximately 20% of the sales tax the City receives.

Property Tax: Property tax receipts totaling $27 million were received through December 2023, which is 8.1% higher than prior year collection levels. The majority of property tax revenue is collected in February and April each year. Based on initial information from the County of Santa Clara, property tax receipts are projected to end the year above the Amended Budget estimate of $87.1 million.

Transient Occupancy Tax (TOT): TOT is calculated as a percentage of City hotel/motel room charges. The City’s TOT rate is currently 11.5% and will increase to 12.5% effective January 1, 2024.

This rate increase was factored into the development of the FY 2023/24 Adopted Budget. Through December 31, 2023, approximately $6.2 million was received, which is on par with prior year receipts.

Other Taxes: Includes franchise tax and documentary transfer tax. The City has collected $1.9 million through December, which is slightly above last fiscal year’s collection levels. Receipts through December reflect franchise tax collections of $1.6 million and approximately $0.3 million in documentary transfer tax revenue.

Licenses & Permits: Includes business licenses, fire operation permits, and miscellaneous permits and fees. Licenses and permits revenue collections are tracking below budgeted levels with receipts totaling $3.3 million, or 41% of the $8.1 million budget. However, this represents a nearly 133% increase compared to prior year collection levels, primarily in the business license category. The updated Business License Tax is being implemented this fiscal year with the new methodology. With this transition and the need to re-register every business, the timeline to submit payments has been extended which has impacted collections. Staff will closely monitor results from the implementation to determine if any budget adjustments are necessary based on the actual collections.

Fines & Penalties: Includes vehicle, parking, court fines, and miscellaneous penalty fines. The revenue collected in this category through December was $1.2 million, or 99.2% of the budgeted

6 City of Santa Clara
Financial Status Report as of December 31, 2023

estimate. Collections in this category are tracking well above the budget and the prior year due to the resumption of the assessment of late fees that had previously been waived due to COVID-19.

Intergovernmental: Includes motor vehicle fees, state homeowner tax relief, state mandated reimbursement and redistribution of land sale proceeds and ground leases from the Successor Agency.

Through December 31, 2023, $0.2 million was collected in this category, which is slightly lower than prior year collection levels.

Charges for Services: Includes various plan check and zoning-related fees, engineering fees, administrative fees, and community service revenue from various recreational activities. Through December, collections of approximately $15.5 million are tracking slightly above par at 52.1% of the budget. This reflects a slight decrease compared to last year’s collections through the same period of $15.8 million. While collections in EMS transport and miscellaneous charges are higher than prior years, collections in engineering fees, planning and zoning fees, and the technology fee are lower.

Additionally, effective July 1, 2023, the Fire Development Services Fund was established and fire construction permitting fees are now booked in this fund, instead of the General Fund.

Sili con Valley Po wer Transfer: In accordance with the City’s charter, Silicon Valley Power pays 5.0% of gross revenues to the General Fund. Through December, $16.5 million has been transferred.

Transfers throughout the year are based on the budgeted estimate and will be trued up at the end of the fiscal year based on actual performance.

Use of Money & Property: Includes realized investment income and rental income. Through December, $6.4 million has been collected, compared to $5.7 million last fiscal year. This increase is primarily due to higher rental income revenues, including right-of-way and Related lease payments.

Miscellaneous Revenues: Includes developer fees, donations, damage recovery, sale of surplus, and one-time miscellaneous revenues. Through December 31, 2023, collections of $0.2 million are significantly lower than prior year levels. This is attributable to the one-time settlement between the City, the Santa Clara Stadium Authority, and the Forty-Niners SC Stadium Company LLC and Forty Niners Stadium Management Company LLC (collectively, the Forty-Niners) recorded last fiscal year.

Stadium Operation: Through December 2023, revenues of $1.4 million are tracking well below par at

13.8% of the budget due to the timing of reimbursements for the costs incurred by the City.

Reimbursements usually take between three to six months from the event date due to the timing of third-party invoices and payment from the Stadium Manager. Revenues are also significantly below prior year collection levels. Last year, the payment of older public safety invoices was submitted as part of the August 2022 legal settlement. Outstanding public safety invoices from 2020 and 2021 were paid in September 2022 as a result of the settlement.

7 City of Santa Clara
Financial Status Report as of December 31, 2023

General Fund Expenditures
As of December 31, 2023, $143.1 million or 49.4% of the General Fund operating budget had been expended. Overall, expenditures in the General Fund are within budgeted levels through December.

Departmental expenditures totaled $125.6 million, or 46.6% of the budget, which is below the par level of 50.0% of the budget. Transfers of $11.6 million have occurred as budgeted.

Adopted Budget
Amended
Budget
Actual Through
12/31/2023
Percentage
Use d
Actual Through
12/31/2022
$
Change From
Prior Year
Percentage
Change

GENERAL GOVERNMENT
Non-Departmental 15,123,531$ 15,990,480$ 6,967,611$ 43.57% 2,682,366$ 4,285,245$ 159.76% City Council 1,124,281 1,131,037 546,010 48.28% 313,572 232,438 74.13% City Clerk 1,947,261 2,121,865 784,133 36.95% 855,306 (71,173) -8.32% City Manager 5,410,204 7,709,087 1,820,152 23.61% 2,140,300 (320,148) -14.96% City Attorney 3,076,516 3,196,951 1,371,355 42.90% 1,536,461 (165,106) -10.75% Human Resources 4,300,090 4,464,113 1,631,559 36.55% 1,763,387 (131,828) -7.48% Finance 19,140,702 20,189,776 8,305,455 41.14% 8,327,242 (21,787) -0.26% Total General Government 50,122,585 54,803,309 21,426,275 39.10% 17,618,634 3,807,641 21.61% PUBLIC WORKS 24,857,521 26,270,541 11,718,068 44.61% 10,800,847 917,221 8.49% COMMUNITY DEVELOPMENT 5,121,256 5,227,061 2,484,993 47.54% 2,198,022 286,971 13.06% PARKS AND RECREATION 21,933,152 22,711,221 10,725,288 47.22% 10,131,751 593,537 5.86%

PUBLIC SAFETY
Fire 62,616,032 63,372,036 32,561,337 51.38% 33,457,347 (896,010) -2.68% Police 85,598,562 85,946,468 41,755,415 48.58% 40,014,699 1,740,716 4.35% Total Public Safety 148,214,594 149,318,504 74,316,752 49.77% 73,472,046 844,706 1.15% LIBRARY 11,135,937 11,229,696 4,968,393 44.24% 5,142,282 (173,889) -3.38% DEPARTMENTAL TOTAL 261,385,045 269,560,332 125,639,769 46.61% 119,363,582 6,276,187 5.26%

OTHER FINANCING USES
Operating Transfer Out - Miscellaneous 1,198,809 1,198,809 1,198,809 100.00% 38,809 1,160,000 2989.00% Operating Transfer Out - Debt Services 1,402,440 1,402,440 1,402,440 100.00% 1,402,275 165 0.01% Operating Transfer Out - Maintenance Dtrct 942,413 942,413 942,413 100.00% 842,700 99,713 11.83% Operating Transfer Out - Cemetery 796,000 796,000 796,000 100.00% 870,000 (74,000) -8.51% Operating Transfer Out - CIP 7,305,499 7,305,499 7,305,499 100.00% 8,641,613 (1,336,114) -15.46% Total Other Financing Uses 11,645,161 11,645,161 11,645,161 100.00% 11,795,397 (150,236) -1.27% STADIUM OPERATION 8,765,352 8, 793,722 5,819,461 66.18% 4,969,509 849,952 17.10% TOTAL GENERAL FUND 281,795,558$ 289,999,215$ 143,104,391$ 49.35% 136,128,488$ 6,975,903$ 5.12% Function

CITY OF SANTA CLARA

GENERAL FUND

EXPENDITURES OVERVIEW AND COMPARISON BY FUNCTION
FISCAL YEAR 2023/24 PY EXPENDITURES COMPARISON

8 City of Santa Clara
Financial Status Report as of December 31, 2023

General Fund Expenditures
Below is an explanation of certain budget to actual expenditure variances by department.

Non-Departmental: Includes expenditures that are not attributable to a single department, but a function of the City in general. Through December 31, 2023, expenditures totaled $6.9 million, or 43.6% of the budget. These expenditures are below the par level of 50%, but above prior year levels. This is a result of higher property insurance costs that have been directly budgeted under Non-Departmental, as opposed to allocated out amongst the departments citywide. This increase in spend compared to November is a result of property insurance payments incurred in December.

City Attorney: Actual expenditures through December totaled approximately $1.4 million, which is

42.9% of the budget, which is below par. Spending is significantly below the total expenditures through the same time last fiscal year by 10.7%. This decrease is due to lower expenditures in the outside legal counsel services.

City Clerk: Through December, actual expenditures were tracking below budget at $0.8 million or approximately 37% of the budget. This expenditure level reflects an 8.3% decrease in spending compared to last fiscal year due to one-time Granicus costs that are paid every other year.

City Coun cil: Through December, expenditures were at 48.3% of budget, which is slightly below par.

This expenditure level is significantly above the prior year due to the reallocation of 1.0 Assistant to the City Manager position from the City Manager’s Office as approved as part of the FY 2023/24 and FY 2024/25 Adopted Operating Budget.

City Manager: The actual expenditures through December 31, 2023 totaled $1.8 million, or 23.6% of the budget, which is below par for this time of the year. Expenditures are approximately 15% lower compared with the spending level through the same period last fiscal year. This is a result of vacancy savings within the department and the reallocation of 1.0 Assistant to the City Manager position to the City Council as mentioned above.

Community Development Department: This department consists of three divisions: Planning, Building, and Housing and Community Services. The Building Division of this department is reflected in the Building Development Services Fund, which falls under the special revenue section of this report.

Through December, departmental expenditures for the Planning and Housing and Community Services divisions totaled $2.5 million, or 47.5% of the budget, which is below par. This expenditure level is

13.1% above the prior year is a result of higher salaries and benefits costs and higher contractual services spending in the current year.

Finance Depar tment: Through December, the Department’s expenditures totaled $8.3 million, or

41.1% of the budget, which is below par. This expenditure level is consistent with prior year levels.

Fire Department: Through December, actual expenditures totaled $32.6 million, or 51.4% of the budget, which is slightly above par. These expenditures reflect a 2.7% decrease from expenditures through the same period last fiscal year. This is primarily because, as approved as part of the FY

9 City of Santa Clara
Financial Status Report as of December 31, 2023

2023/24 and FY 2024/25 Adopted Operating Budget, approximately 9.0 FTE were reallocated to the newly established Fire Development Services Fee Fund. These charges are reflected under the special revenue section of this report.

Expenditures are tracking slightly over budget primarily due to higher overtime that totals 78% of the budget through December as well as compensatory time payout expenditures. Overtime is used to backfill for shift absences and vacant shift positions to maintain daily minimum staffing. When the budget was developed, it was assumed that overtime costs would be higher in the first half of the year while firefighters in the recruit academy were in training. These newly trained firefighters began providing relief staffing effective December 8, 2023. With these relief positions, overtime costs are expected to be lower in the second half of the fiscal year. However, it is anticipated that overtime expenditures will exceed the budget as the current absence rate exceeds the estimate used in the development of the budget.

When compared to the prior fiscal year, absences are up 35% through December (from 33,498 to 45,249 hours). This reflects increases in workers’ compensation/injury leave, modified duty, Family Medical Leave Act leave, sick leave, and compensatory time used. In addition, it is important to note that employees can elect for compensatory time over overtime pay when backfilling shift absences, which increases the need to backfill when the compensatory time is used.

The Fire Department will continue to monitor its absences and budget. Any necessary budget adjustments will be brought forward by year-end.

Library Department: Through December, actual expenditures totaled $4.9 million, or 44.2% of the budget, which is below par and below expenditure levels last fiscal year. The Library continues to hire staff and fill vacancies to restore library hours.

Parks and Recreation Department: Through December 31, 2023, actual expenditures totaled $10.7 million, or 47.2% of the budget, which is below par but higher than prior year actuals of $10.1 million.

This is primarily due to higher spend in the salaries and benefits, contractual services, advertising and maintenance categories.

Police Dep artment: Expenditures through December are tracking slightly below par at $41.8 million, or

49.8% of the budget. This expenditure level is 4.4% above the prior year, primarily due to higher personnel costs and operating supplies costs.

Stadium Operation: Stadium operating expenditures are incurred first and billed on a reimbursement basis creating a timing difference in revenue recognition. Stadium expenditures totaled $5.8 million through December, which is significantly higher than prior year levels. This is primarily due to higher personnel spend, particularly in overtime. Events at the Stadium during December included two NFL games.

10 City of Santa Clara
Financial Status Report as of December 31, 2023

Special Revenue Funds
The table below is a summary of revenues and expenditures of select Special Revenue Funds as of December 31, 2023. The amended budget reflects carryover encumbrances from fiscal year 2022/23 and budget amendments approved by the City Council through December 2023. Effective July 1, 2023, development related services in the Fire Department have been reallocated from the General Fund to the newly established Fire Development Services Fund, reflected below.

Revenues totaled approximately $10.5 million, while expenditures totaled $12.1 million through the end of December. Overall, revenues and expenditures are tracking below par of 50.0%. In the Housing Successor Fund, the expenditures are significantly lower compared to last fiscal year due to a one-time special disbursement for a housing loan that occurred in July 2022. Last fiscal year, there was also a negative expenditure in the City Affordable Housing Fund due to an accounting change in the disbursements category.

Actual Actual $
Fu
nd Adopted Amended Through Percentage Through Change From Percent Description Budget Budget 12/31/2023 Received 12/31/2022 Prior Year Change Housing Authority Fund 252,495$ 252,495$ 74,947$ 29.68% 41,515$ 33,432$ 80.53% City Affordable Housing Fund 1,166,720 1,166,720 195,136 16.73% 207,347 (12,211) -5.89% Housing Successor Fund 1,306,326 1,306,326 305,876 23.41% 447,082 (141,206) -31.58% Housing and Urban Development 3,106,041 3,106,041 604,649 19.47% 647,100 (42,451) -6.56% Building Development Services Fee
Fund
15,611,000 15,611,000 7,589,080 48.61% 11,578,359 (3,989,279) -34.45% Fire Development Services Fee
Fund
2,935,000 2,937,887 1,770,623 60.27% - 1,770,623 N/A TOTAL 24,377,582$ 24,380,469$ 10,540,311$ 43.23% 12,921,403$ (2,381,092)$ -18.43% Actual Actual $
Fund Adopted Amended through Percentage through Change From Percent Description Budget Budget 12/31/2023 Use d 12/31/2022 Prior Year Change Housing Authority Fund 457,193$ 518,659$ 80,941$ 15.61% 109,233$ (28,292)$ -25.90% City Affordable Housing Fund 6,683,926 10,435,503 2,805,562 26.88% (363,050) 3,168,612 -872.78% Housing Successor Fund 873,227 1,216,887 450,455 37.02% 5,320,890 (4,870,435) -91.53% Housing and Urban Development 3,993,723 4,753,782 607,732 12.78% 987,424 (379,692) -38.45% Building Development Services Fee
Fund
13,689,592 17,218,230 6,654,852 38.65% 6,444,779 210,073 3.26% Fire Development Services Fee
Fund
3,109,073 3,111,960 1,512,706 48.61% - 1,512,706 N/A TOTAL 28,806,734$ 37,255,021$ 12,112,248$ 32.51% 12,499,276$ (387,028)$ -3.10%

PRIOR YEAR EXPENDITURE COMPARISON

CITY OF SANTA CLARA

SPECIAL REVENUE FUNDS

REVENUE AND EXPENDITURE - OVERVIEW AND COMPARISON BY FUND REVENUES - FISCAL YEAR 2023/24 PRIOR YEAR REVENUE COMPARISON EXPENDITURES - FISCAL YEAR 2023/24

11 City of Santa Clara
Financial Status Report as of December 31, 2023

Governmental Capital Improvement Funds
The table below lists the revenue for selected capital improvement funds. The amended budget reflects current year appropriations, prior year carryover, and budget amendments approved through December 2023. As of December 31, 2023, the capital fund revenue totaled $12.1 million.

REVENUES - FISCAL YEAR 2023/24
Actual
Fu
nd Current Year Prior Year Total Amended Through Percentage Description Appropriation Carryforward Budget 12/31/2023 Received Parks & Recreation -$ 4,189,995$ 4,189,995$ 503,222$ 12.01% Streets & Highways 15,984,432 17,422,990 33,407,422 9,812,850 29.37% Storm Drain 4,454,000 - 4,454,000 728,868 16.36% Related Santa Clara Developer 977,582 1,707,737 2,685,319 1,025,167 38.18% Patrick Henry Drive Infrastructure
Improvement Fund
140,486 - 140, 486 - 0.00% Tasman East Specific Infrastructure
Improvement Fund
- - - 50,456 N/A TOTAL 21,556,500$ 23,320,722$ 44,877,222$ 12,120,417$ 27.01%

CITY OF SANTA CLARA

GOVERNMENTAL CAPITAL IMPROVEMENT FUNDS

REVENUE - OVERVIEW AND COMPARISON BY SELECTED FUND

The table below lists the total amended budgeted amounts for expenditures in the Capital Improvement Funds. Similar to the revenue table, the amended expenditure budgets consist of current year appropriations, prior year carryover encumbrance balances in Governmental Capital Improvement Funds, and budget amendments approved through December 2023. As of December 31, 2023, capital fund expenditures totaled $18.4 million, or 10.9% of the amended budget, well below par of 50.0%.

As part of the adoption of the FY 2023/24 and FY 2024/25 biennial operating budget, some capital funds were carried over for projects that were not anticipated to be completed by June 30, 2023.

Necessary additional adjustments to the capital carryover amounts were included as part of the Budgetary Year-End Report for FY 2022/23 approved by the City Council approval on December 12, 2023. These adjustments are reflected in the tables referenced.

12 City of Santa Clara
Financial Status Report as of December 31, 2023

EXPENDITURES - FISCAL YEAR 2023/24
Actual
Fu
nd Current Year Prior Year Total Amended Through Percentage Description Appropriation Carryforward Budget 12/31/2023 Use d Parks & Recreation 15,799,144$ 24,181,336$ 39,980,480$ 6,098,671$ 15.25% Streets & Highways 46,080,717 43,717,468 89,798,185 9,775,824 10.89% Storm Drain 5,433,900 3,134,592 8,568,492 388,431 4.53% Fire 1,251,428 482,826 1,734,254 89,180 5.14% Library 49,658 251,447 301,105 - 0.00% Public Buildings 5,511,176 3,047,706 8,558,882 966,472 11.29% General Gov't - Other 4,403,201 6,651,782 11,054,983 784,736 7.10% City Affordable Housing Capital Fund 3,344,484 1,600,000 4,944,484 - 0.00% Related Santa Clara Developer 1,500,691 - 1,500,691 242,575 16.16% Patrick Henry Drive Infrastructure
Improvement Fund
71,281 - 71, 281 11,888 16.68% Tasman East Specific Infrastructure
Improvement Fund
27,330 1,423, 145 1,450,475 12,481 0.86% TOTAL 83,473,010$ 84,490,302$ 167,963,312$ 18,370,258$ 10.94%

CITY OF SANTA CLARA

SUMMARY OF EXPENDITURES

GOVERNMENTAL CAPITAL IMPROVEMENT FUNDS

13 City of Santa Clara
Financial Status Report as of December 31, 2023

Enterprise Funds
The table below is a summary of revenues and expenses for the Enterprise Operating Funds as of December 31, 2023. Overall, revenues and expenditures are tracking below budgeted levels.

Actual Actual $
Fund Adopted Amended Through Percentage Through Change From Percent Description Budget Budget 12/31/2023 Received 12/31/2022 Prior Year Change Electric Utility Fund 1,008,222,211$ 1,008,222,211$ 327,579,687$ 32.49% 277,321,538$ 50,258,149$ 18.12% Water Utility Fund 60,726,490 60,726,490 28,102,569 46.28% 24,538,107 3,564,462 14.53% Sewer Utility Fund 73,500,825 78,500,825 35,766,202 45.56% 19,318,094 16,448,108 85.14% Cemetery Fund 750,000 750,000 225,552 30.07% 295,966 (70,414) -23.79% Solid Waste Utility Fund 39,577,957 39,577,957 17,450,271 44.09% 16,160,274 1,289,997 7.98% Water Recycling Fund 7,668,868 7,668,868 4,171,682 54.40% 3,322,223 849,459 25.57% TOTAL REVENUE 1,190,446,351$ 1,195,446,351$ 413,295,963$ 34.57% 340,956,202$ 72,339,761$ 21.22% Actual Actual $
Fund Adopted Amended through Percentage through Change From Percent Description Budget Budget 12/31/2023 Use d 12/31/2022 Prior Year Change Electric Utility Fund 681,590,706$ 687,147,483$ 276,519,821$ 40.24% 259,330,458$ 17,189,363$ 6.63% Water Utility Fund 54,015,131 56,447,989 25,804,911 45.71% 22,803,607 3,001,304 13.16% Sewer Utility Fund 53,980,961 55,447,527 17,429,638 31.43% 15,015,739 2,413,899 16.08% Cemetery Fund 1,534,349 1,534,349 516,791 33.68% 727,474 (210,683) -28.96% Solid Waste Utility Fund 38,782,622 42,490,732 15,987,066 37.62% 14,293,681 1,693,385 11.85% Water Recycling Fund 8,234,584 8,234,584 3,114,862 37.83% 3,601,549 (486,687) -13.51% TOTAL - Operating
Appropriations
838,138,353$ 851,302,664$ 339,373,089$ 39.87% 315,772,508$ 23,600,581$ 7.47%

CITY OF SANTA CLARA

ENTERPRISE OPERATING FUNDS

REVENUES AND EXPENSES - OVERVIEW AND COMPARISON BY FUND REVENUES - FISCAL YEAR 2023/24 PRIOR YEAR REVENUE COMPARISON PRIOR YEAR EXPENSE COMPARISONEXPENSES - FISCAL YEAR 2023/24

Both revenues and expenditures are tracking higher than the prior year levels. Revenues in the electric (which also includes the Electric Debt Service Fund), water, and sewer utility (which also includes the Sewer Debt Service Fund) and water recycling funds are primarily from customer service charges. The activity levels for these customer service charges also impact the resource and production costs on the expenditure side for these funds. In the Sewer Utility, the high revenue collection is due to the bond proceeds collected in the debt service fund.

In the Electric Utility Fund, higher debt retirement and resource costs were incurred this fiscal year, in addition to higher customer service and renewable energy collections. In the Cemetery Fund, expenditures are significantly lower than prior years due to vacancies. The decrease in expenditure levels in the Water Recycling Fund is due to the timing of resource/production invoice payments.

14 City of Santa Clara
Financial Status Report as of December 31, 2023

A summary of revenue and expenses in the Enterprise Capital Improvement Funds is detailed in the table below. Actual revenue through December 31, 2023 totaled $18.6 million, consisting primarily of developer contributions in the Electric Utility Fund and sewer fees in the Sewer Utility Fund. Enterprise capital fund expenses totaled $40.5 million, or 7.0% of the amended budget. Similar to the general government capital funds, capital funds were carried over from FY 2022/23 as part of the FY 2023/24 and FY 2024/25 budget adoption process for those projects that were not expected to be completed by June 30, 2023. Additional necessary adjustments to the capital carryover amounts based on actual year-end expenditures were brought forward as part of the budgetary year-end report for FY 2022/23 approved by the City Council on December 12, 2023. These adjustments are reflected in the tables below.

Actual
Fund Cu rrent Year Prior Year Total Amended Through Percentage Description Appropriation Carryforward Budget 12/31/2023 Received Electric Utility Fund 38,500,092$ 10,071,673$ 48,571,765$ 17,195,747$ 35.40% Water Utility Fund - - - 13,450 N/A Sewer Utility Fund - - - 1,379,482 N/A Solid Waste Utility Fund 258,000 430,000 688,000 6,964 1.01% TOTAL - Revenue 38,758,092$ 10, 501,673$ 49,259,765$ 18,595,643$ 37.75% Actual
Fund Cu rrent Year Prior Year Total Amended Through Percentage Description Appropriation Carryforward Budget 12/31/2023 Use d Electric Utility Fund 383,682,041$ 135,149,829$ 518,831,870$ 28,858,231$ 5.56% Street Lighting (1) 139,007 3,527,530 3,666,537 51,608 1.41% Water Utility Fund 8,009,823 2, 839,914 10,849,737 1,497,404 13.80% Sewer Utility Fund 18,414,974 24,967,761 43,382,735 8,983,641 20.71% Cemetery Fund 23,835 228,809 252,644 6,000 2.37% Solid Waste Utility Fund 1,036,757 15,085 1,051,842 724,189 68.85% Water Recycling Fund 50,000 - 50,000 12,980 25.96% Convention Center Capital
Fund
90,000 2,141, 755 2,231,755 337,483 15.12%

TOTAL - CIP
Appropriations
411,446,437$ 168,870, 683$ 580,317,120$ 40,471,536$ 6.97%

CITY OF SANTA CLARA

ENTERPRISE CAPITAL IMPROVEMENT FUNDS

SUMMARY OF EXPENSES
EXPENSES - FISCAL YEAR 2023/24

CITY OF SANTA CLARA

ENTERPRISE CAPITAL IMPROVEMENT FUNDS

REVENUE - OVERVIEW AND COMPARISON BY SELECTED FUND
REVENUES - FISCAL YEAR 2023/24

(1) Street Lighting fund is part of Electric Capital Improvement Funds

15 City of Santa Clara
Financial Status Report as of December 31, 2023

Fund Reserves
By policy, City Council established the City’s General Contingency Reserve, under which reserves for Budget Stabilization and Capital Projects were established. • Bud get Stabilization Reserve is set aside for weathering economic downturns, emergency financial crisis, or disaster situations. The reserve target is equal to the expenditures of the City’s General Fund operations for three months (90-day or 25% General Fund Adopted Operating Budget). In FY 2023/24, the City Council approved an exception to the policy to allow the Reserve to a minimum of 15% of expenditures.
• Capital Projects Reserve earmarks funds for the Capital Improvement Program.

Other General Reserves and Enterprise Fund Reserves included in this report are highlighted as follows:
• Technology Fee Reserve is set aside to update and/or replace the City’s aging technology and to ensure internal controls are in compliance with current business standard and legal requirements.
• L and Sale Reserve is net proceeds from the sale of City-owned land, with interest earned on these funds available to be appropriated for General Fund operating expenditures. This reserve is available for appropriation by City Council action.
• The Electric Utility Rate Stabilization Reserve and Operations and Maintenance Reserve assures sufficient operating cash is available to cover day-to-day expenses, address unforeseen cost increases or revenue shortfalls, and ensure debt service coverage. • The Replaceme nt and Improvement Reserve in the Water and Sewer Utility Funds is for future capital improvement.

The table below summarizes select reserve balances.

16 City of Santa Clara
Financial Status Report as of December 31, 2023

DETAIL OF SELECTED FUND RESERVE BALANCES:

GENERAL

FUND ELECTRIC WATER
Budget Stabilization Reserve 54,142,001$
Capital Projects Reserve 23,860,843
Reserve for Programmed Capital Projects 986,657
Land Sale Reserve 18,481,037
Technology Fee Reserve 2,581,146
Electric Rate Stabilization Fund Reserve 56,776,613$
Electric Operations and Maintenance Reserve 150,765,556 Replacement & Improvement 303,090$
TOTALS 100,051,684$ 207,542,169$ 303,090$

CITY OF SANTA CLARA

RESERVE BALANCES
December 31, 2023

Donations to the City of Santa Clara
No additional donations were received during the month of December 2023. The total donations for fiscal year 2023/24 are shown in the table below.

Department Dec-23
Fis cal Year
2023/24
Year
To Date Designated Use
City Manager's Office - 251 Help Your Neighbor Parks & Recreation - 3,900 Case Management Parks & Recreation - 1,770 Roberta Jones Jr. Theatre Parks & Recreation - 4, 350 Senior Nutrition Donation Parks & Recreation - 30, 975 Wade Brummal Police - 75, 000 TEAM 200
TOTALS -$ 116, 246$

_____________________________________________________________________

MONTHLY INVESTMENT REPORT

December 2023

City of
Santa Clara
The Center of What 's Possible
City of Santa Clara
Monthly Investment Report

TABLE OF CONTENTS
Page #
1 Summary of Investment Portfolio 1
2 Summary of Investments 5
3 Investment Maturity Distribution Schedule 6
4 Attachment A: Investment Inventory With Market Value 7 1 CITY OF SANTA CLARA

SUMMARY OF INVESTMENT PORTFOLIO

All securities held by the City of Santa Clara as of December 31, 2023 were in compliance with the City's Investment Policy Statement regarding current market strategy and long-term goals and objectives. All securities held are rated A or higher by two nationally recognized rating agencies. There is adequate cash flow and maturity of investments to meet the City’s needs for the next six months.

The following table provides the breakdown of the total portfolio among the City, the Sports and Open Space Authority (SOSA), and the Housing Authority (HA) as of December 31, 2023.

On December 31, 2023 the cost value and market value of the City's unrestricted pooled investment portfolio were $1,045,071,016 and $1,029,699,079 respectively.

Investment Strategy and Market Update
At the conclusion of its meeting on December 13, a surprisingly dovish Federal Reserve (Fed) suggested it had likely reached the end of its historic rate-hiking cycle. In addition to maintaining the overnight target rate at its current range of 5.25% to 5.50%, the Fed published an updated “dot plot” showing a total of three 25 basis point (bps) rate cuts by the end of 2024, more than previously projected. Yields fell notably as a result.

The December employment report showed non-farm payrolls increased by 216,000, beating expectations, while the unemployment rate was unchanged at 3.7%. For the year, non-farm payrolls showed 225,000 new jobs created per month, down from 2022’s blistering pace of 399,000, while the unemployment rate increased modestly from its historically low level at the beginning of the year. The number of job openings also fell to the lowest level since March 2021, pointing to a labor market that continues to moderate.

Inflation (measured by the year-over-year (YoY) change in the consumer price index (CPI)) fell to 3.1% in November as lower energy prices continue to offset higher shelter costs. The Fed’s preferred gauge of inflation, the Personal Consumption Expenditure (PCE) index, fell slightly on a month-over-month basis between October and November, the first monthly decline in more than 3.5 years.

U.S. Treasury yields continued their descent from the multiyear highs reached in October and rallied significantly into year-end. The Fed’s dovish tone added downward pressure on yields as policymakers appeared to affirm that easier monetary policy may be the

COST VALUE PERCENTAGE
City $1,044,137,625 99.91%
SOSA 11,812

0.00%
HA 921,579 0.09% Unrestricted $1,045,071,016 100.00%
Restricted Bond Proceeds 2,289,329

Total Investments $1,047,360,345
2 most likely outcome in 2024. The benchmark 2-, 5-, and 10-year U.S. Treasuries finished the month at 4.25%, 3.85%, and 3.88%, moving down 43, 42, and 45 bps for the month, respectively.

The City's investment strategy for December 2023 was to invest funds not required to meet current obligations, in securities listed in the prevailing Investment Policy Statement, with maturities not to exceed five years from date of purchase. This strategy ensures safety of the City’s funds, provides liquidity to meet the City’s cash needs , and earns a reasonable portfolio return. PFM Asset Management LLC began actively managing the City’s securities portfolio on September 1, 2020.

As of December 31, 2023, 39.96% of the City’s portfolio consists of U.S. Treasury Notes, 17.93% consists of investment grade Corporate Notes, 15.77% consists of California Asset Management Program (CAMP), 11.71% consists of Federal Agencies, 5.57% consists of investment grade Mortgage -Backed Securities, 5.51% consists of investment grade Asset -Back Securities, 1.41% consists of Negotiable Certificates of Deposit, 1.06% consists of investment grade Supranational Obligations, 0.56% consists of Local Agency Investment Fund (LAIF), and 0.26% consists of investment grade Municipal Bonds. In addition, City bond proceeds are invested in separate funds and are not included in the calculation of the City’s portfolio yield.

U.S. Treasury Notes

39.96%
Federal Agency Notes

11.71%
Corporate Notes

17.93%
Municipal Bonds

0.26%
Supranational Obligations

1.06%
Asset-Backed Securities

5.51%
Negotiable Certificates
of Deposit

1.41%
Mortgage-Backed
Securities

5.57%
Money Market Fund

0.04%
Local Agency Investment Fund
(LAIF)

0.56%
California Asset Management
Program (CAMP)

15.77%
Mutual Fund - Traffic Mitigation
Bond Proceeds

0.22%
3 The City’s securities portfolio is benchmarked against the ICE BAML 1-5 US Treasury Index.

3.05%

3.80%

3.95%

0.00%

0.50%

1.00%

1.50%

2.00%

2.50%

3.00%

3.50%

4.00%

4.50%
Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Securities Portfolio Yield at Cost vs Index 24-Month Average of Yield at Market Securities Portfolio (yield at cost)
City's Benchmark Index (24-month rolling average market yield) BofA 1-5 AAA-A Corp & Gov't Index (24-month rolling average market yield) t
t
I I I
t
t
t
t
t
t
4 The following table summarizes the investment yields other information of the City’s investment portfolio components, along with comparable-maturity market indices. Also shown are the monthly interest income and aggregate year-to-date income.

Current Month
12/31/2023
Investment Yield
Liquidity Portfolio1 5.48%
LAIF average monthly yield 3.93%

Securities Portfolio2 3.05%
ICE BAML 1-5 US Treasury Index (24-month rolling average market yield) 3.80% ICE BAML 1-5 AAA-A US Corporate & Government Index (24-month rolling average market yield) 3.95%

City Portfolio (Liquidity + Securities) 3.46%

Investment Total Return*
Securities Portfolio 1.45%
ICE BAML 1-5 US Treasury Index 1.49%
ICE BAML 1-5 AAA-A US Corporate & Government Index 1.52%

Average Maturity of Investments (in years)
Liquidity Portfolio1 0.08
Securities Portfolio2 2.64
City Portfolio (Liquidity + Securities) 2.20
ICE BAML 1-5 US Treasury Index 2.77
ICE BAML 1-5 AAA-A US Corporate & Government Index 2.75

Interest Income Current Month3 $ 1,734,149
Interest Income Fiscal Year-To-Date3 $ 12,509,621

1. Consists of CAMP Pool, LAIF, Dreyfus Traffic Mitigation Fund, & Principal Sweep Account

2. Core long term portfolio managed by PFM Asset Management

3. Cash basis
* Total rate of return including earnings, distributions, and capital appreciation/depreciation of all portfolio assets

5 CITY OF SANTA CLARA
SUMMARY OF INVESTMENTS DECEMBER 31, 2023

PER
COST % OF INVESTMENT

INVESTMENT TYPE VALUE PORTFOLIO POLICY

U.S. Treasury Notes 418,547,639 39.96% No Limit Federal Agency Notes 122,755,226 11.71% 80% Corporate Notes 187,836,386 17.93% 25%
Municipal Bonds 2,715,000 0.26% 20%
Supranational Obligations 11,056,812 1.06% 20% Asset-Backed Securities 57,679,406 5.51% 10% Negotiable Certificates of Deposit 14,770,000 1.41% 30% Mortgage-Backed Securities 58,288,768 5.57% 15% Money Market Fund 406,278 0.04% 10% Per Fund Local Agency Investment Fund (LAIF) 5,813,383 0.56% $75 M California Asset Management Program (CAMP) 165,202,118 15.77% No Limit Mutual Fund - Traffic Mitigation Bond Proceeds 2,289,329 0.22% 10% Per Fund TOTAL INVESTMENTS $ 1,047,360,345 100.00%

6 INVESTMENT MATURITY DISTRIBUTION
AS OF DECEMBER 31, 2023

UNRESTRICTED POOLED PORTFOLIO

MATURITY NUMBER OF
(IN MONTHS) COST VALUE INVESTMENTS DISTRIBUTION

DEMAND $ 171,421,780 (a) 3 16.40%
0 TO 6 26,241,158 6 2.51%
7 TO 12 96,728,591 14 9.26%
13 TO 18 134,195,193 23 12.84%
19 TO 24 82,507,858 17 7.89%
25 TO 30 96,286,095 20 9.21%
31 TO 36 65,716,827 11 6.29%
37 TO 42 74,379,290 16 7.12%
43 TO 48 105,037,295 14 10.05%
49 TO 54 117,449,448 21 11.24%
55 TO 60 75,107,481 16 7.19%

TOTAL $ 1,045,071,016 161 100.00%

Average Maturity of Unrestricted Pool: 2.20 Years

(a) $20 million is earmarked for the City's Electric Utility power- trading.

0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
22%
24%

INVESTMENT MATURITY DISTRIBUTION

UNRESTRICTED POOLED PORTFOLIO
AS OF DECEMBER 31, 2023
City of Santa Clara Monthly Report
12/31/2023
Description Issue Date Coupon  Rate Maturity  Date CUSIP Par  Value S&P  Rating Settle  Date Cost  Value YTM  at Cost Market  Value Unrealized  G/L UNITED STATES TREASURY 7/6/2023 0.000% 1/4/2024 912797FW2 5,850,000.00 A-1+ 12/21/2023 5,838,164.31 5.21% 5,848,303.50 10,139.19 UNITED STATES TREASURY 7/6/2023 0.000% 1/4/2024 912797FW2 5,345,000.00 A-1+ 12/18/2023 5,331,791.51 5.25% 5,343,449.95 11,658.44 UNITED STATES TREASURY 7/15/2021 0.375% 7/15/2024 91282CCL3 2,910,000.00 AA+ 9/10/2021 2,908,181.25 0.40% 2,837,919.30 -70,261.95 UNITED STATES TREASURY 7/31/2017 2.125% 7/31/2024 9128282N9 5,000,000.00 AA+ 9/10/2019 5,133,315.75 1.56% 4,915,650.00 -217,665.75 UNITED STATES TREASURY 8/31/2017 1.875% 8/31/2024 9128282U3 2,985,000.00 AA+ 3/10/2020 3,149,640.66 0.62% 2,923,897.05 -225,743.61 UNITED STATES TREASURY 8/31/2019 1.250% 8/31/2024 912828YE4 4,750,000.00 AA+ 1/ 5/2021 4,928,867.19 0.21% 4,633,672.50 -295,194.69 UNITED STATES TREASURY 10/31/2017 2.250% 10/31/2024 9128283D0 10,000,000.00 AA+ 11/18/2019 10,290,625.00 1.64% 9,784,400.00 -506,225.00 UNITED STATES TREASURY 11/30/2017 2.125% 11/30/2024 9128283J7 5,000,000.00 AA+ 1/6/2020 5,118,945.31 1.62% 4,878,300.00 -240,645.31 UNITED STATES TREASURY 1/2/2018 2.250% 12/31/2024 9128283P3 10,000,000.00 AA+ 1/ 7/2020 10,300,781.25 1.62% 9,753,300.00 -547,481.25 UNITED STATES TREASURY 1/15/2022 1.125% 1/15/2025 91282CDS7 2,095,000.00 AA+ 4/12/2022 2,007,026.37 2.71% 2,018,113.50 11,087.13 UNITED STATES TREASURY 1/31/2020 1.375% 1/31/2025 912828Z52 5,000,000.00 AA+ 4/22/2020 5,238,671.88 0.37% 4,824,050.00 -414,621.88 UNITED STATES TREASURY 1/31/2020 1.375% 1/31/2025 912828Z52 1,950,000.00 AA+ 5/7/2021 2,013,146.48 0.50% 1,881,379.50 -131,766.98 UNITED STATES TREASURY 2/28/2018 2.750% 2/28/2025 9128283Z1 6,200,000.00 AA+ 3/6/2020 6,850,757.82 0.61% 6,067,072.00 -783,685.82 UNITED STATES TREASURY 6/30/2020 0.250% 6/30/2025 912828ZW3 10,860,000.00 AA+ 10/5/2023 9,991,200.00 5.12% 10,200,363.60 209,163.60 UNITED STATES TREASURY 8/31/2020 0.250% 8/31/2025 91282CAJ0 4,120,000.00 AA+ 8/2/2021 4,075,581.25 0.52% 3,846,267.20 -229,314.05 UNITED STATES TREASURY 10/31/2020 0.250% 10/31/2025 91282CAT8 5,510,000.00 AA+ 6/7/2022 5,024,216.04 3.00% 5,118,073.70 93,857.66 UNITED STATES TREASURY 10/31/2020 0.250% 10/31/2025 91282CAT8 5,400,000.00 AA+ 10/ 7/2021 5,285,882.81 0.78% 5,015,898.00 -269,984.81 UNITED STATES TREASURY 11/30/2020 0.375% 11/30/2025 91282CAZ4 4,450,000.00 AA+ 11/4/2021 4,327,625.00 1.07% 4,132,403.50 -195,221.50 UNITED STATES TREASURY 12/31/2020 0.375% 12/31/2025 91282CBC4 3,820,000.00 AA+ 5/3/2021 3,751,956.25 0.76% 3,540,223.20 -211,733.05 UNITED STATES TREASURY 1/31/2019 2.625% 1/31/2026 9128286A3 10,490,000.00 AA+ 10/ 5/2023 9,948,699.61 5.01% 10,160,194.40 211,494.79 UNITED STATES TREASURY 1/31/2021 0.375% 1/31/2026 91282CBH3 8,710,000.00 AA+ 5/3/2022 7,905,345.70 3.00% 8,047,256.10 141,910.40 UNITED STATES TREASURY 1/31/2021 0.375% 1/31/2026 91282CBH3 7,735,000.00 AA+ 2/25/2022 7,305,949.22 1.84% 7,146,443.85 -159,505.37 UNITED STATES TREASURY 1/31/2021 0.375% 1/31/2026 91282CBH3 4,050,000.00 AA+ 1/6/2022 3,906,351.56 1.27% 3,741,835.50 -164,516.06 UNITED STATES TREASURY 1/31/2021 0.375% 1/31/2026 91282CBH3 8,025,000.00 AA+ 11/30/2021 7,817,478.52 1.01% 7,414,377.75 -403,100.77 UNITED STATES TREASURY 2/15/2023 4.000% 2/15/2026 91282CGL9 5,300,000.00 AA+ 12/18/2023 5,260,250.00 4.37% 5,275,779.00 15,529.00 UNITED STATES TREASURY 2/28/2021 0.500% 2/28/2026 91282CBQ3 5,175,000.00 AA+ 12/7/2021 5,067,214.15 1.15% 4,782,217.50 -284,996.65 UNITED STATES TREASURY 2/28/2021 0.500% 2/28/2026 91282CBQ3 3,575,000.00 AA+ 8/31/2021 3,542,880.86 0.70% 3,303,657.50 -239,223.36 UNITED STATES TREASURY 5/31/2021 0.750% 5/31/2026 91282CCF6 9,250,000.00 AA+ 6/8/2022 8,477,480.47 2.99% 8,538,582.50 61,102.03 UNITED STATES TREASURY 5/31/2021 0.750% 5/31/2026 91282CCF6 5,860,000.00 AA+ 3/21/2022 5,520,989.84 2.20% 5,409,307.40 -111,682.44 UNITED STATES TREASURY 8/15/2016 1.500% 8/15/2026 9128282A7 5,350,000.00 AA+ 8/ 15/2022 5,033,388.67 3.08% 5,007,279.00 -26,109.67 UNITED STATES TREASURY 9/15/2023 4.625% 9/15/2026 91282CHY0 10,000,000.00 AA+ 10/3/2023 9,930,468.75 4.88% 10,139,500.00 209,031.25 UNITED STATES TREASURY 9/30/2021 0.875% 9/30/2026 91282CCZ2 8,500,000.00 AA+ 4/5/2022 7,878,769.53 2.61% 7,807,080.00 -71,689.53 UNITED STATES TREASURY 10/31/2021 1.125% 10/31/2026 91282CDG3 5,700,000.00 AA+ 8/8/2022 5,267,601.56 3.05% 5,259,789.00 -7,812.56 UNITED STATES TREASURY 11/15/2016 2.000% 11/15/2026 912828U24 8,840,000.00 AA+ 6/8/2022 8,472,242.19 3.01% 8,357,247.60 -114,994.59 UNITED STATES TREASURY 12/31/2021 1.250% 12/31/2026 91282CDQ1 5,340,000.00 AA+ 4/14/2022 5,000,617.97 2.69% 4,929,087.00 -71,530.97 UNITED STATES TREASURY 2/15/2017 2.250% 2/15/2027 912828V98 7,910,000.00 AA+ 7/ 7/2022 7,705,452.34 2.85% 7,508,963.00 -196,489.34 UNITED STATES TREASURY 2/15/2017 2.250% 2/15/2027 912828V98 5,400,000.00 AA+ 6/ 13/2022 5,159,109.38 3.29% 5,126,220.00 -32,889.38 UNITED STATES TREASURY 2/15/2017 2.250% 2/15/2027 912828V98 2,100,000.00 AA+ 4/ 20/2022 2,040,691.41 2.88% 1,993,530.00 -47,161.41 UNITED STATES TREASURY 3/31/2022 2.500% 3/31/2027 91282CEF4 940,000.00 AA+ 11/30/2022 883,159.38 4.03% 898,395.60 15,236.22 UNITED STATES TREASURY 4/30/2020 0.500% 4/30/2027 912828ZN3 7,000,000.00 AA+ 8/ 3/2022 6,262,812.50 2.89% 6,248,340.00 -14,472.50 UNITED STATES TREASURY 5/15/2017 2.375% 5/15/2027 912828X88 5,400,000.00 AA+ 8/ 8/2022 5,248,546.88 3.01% 5,128,974.00 -119,572.88 UNITED STATES TREASURY 6/30/2020 0.500% 6/30/2027 912828ZV5 5,675,000.00 AA+ 8/15/2022 5,034,789.06 3.00% 5,040,989.00 6,199.94 UNITED STATES TREASURY 7/31/2022 2.750% 7/31/2027 91282CFB2 10,800,000.00 AA+ 9/14/2022 10,392,046.88 3.60% 10,367,136.00 -24,910.88 UNITED STATES TREASURY 8/15/1997 6.375% 8/15/2027 912810FA1 9,390,000.00 AA+ 10/5/2023 9,913,052.34 4.78% 10,144,110.90 231,058.56 1/12/2024 2:25 PM 1 of 5
Attachment A
City of Santa Clara Monthly Report
12/31/2023
Description Issue Date Coupon  Rate Maturity  Date CUSIP Par  Value S&P  Rating Settle  Date Cost  Value YTM  at Cost Market  Value Unrealized  G/L UNITED STATES TREASURY 8/15/2017 2.250% 8/15/2027 9128282R0 11,115,000.00 AA+ 9/6/2022 10,537,975.20 3.40% 10,482,889.95 -55,085.25 UNITED STATES TREASURY 9/30/2022 4.125% 9/30/2027 91282CFM8 3,785,000.00 AA+ 11/3/2022 3,760,308.79 4.27% 3,808,959.05 48,650.26 UNITED STATES TREASURY 10/31/2020 0.500% 10/31/2027 91282CAU5 21,480,000.00 AA+ 1/6/2023 18,292,401.56 3.91% 18,883,068.00 590,666.44 UNITED STATES TREASURY 10/31/2022 4.125% 10/31/2027 91282CFU0 10,930,000.00 AA+ 12/8/2022 11,081,995.31 3.81% 10,998,749.70 -83,245.61 UNITED STATES TREASURY 10/31/2022 4.125% 10/31/2027 91282CFU0 4,750,000.00 AA+ 1/ 31/2023 4,833,310.55 3.72% 4,779,877.50 -53,433.05 UNITED STATES TREASURY 10/31/2022 4.125% 10/31/2027 91282CFU0 5,100,000.00 AA+ 12/ 13/2022 5,165,343.75 3.83% 5,132,079.00 -33,264.75 UNITED STATES TREASURY 12/31/2022 3.875% 12/31/2027 91282CGC9 8,255,000.00 AA+ 1/31/2023 8,320,459.57 3.70% 8,241,461.80 -78,997.77 UNITED STATES TREASURY 12/31/2022 3.875% 12/31/2027 91282CGC9 7,325,000.00 AA+ 2/8/2023 7,333,583.98 3.85% 7,312,987.00 -20,596.98 UNITED STATES TREASURY 12/31/2022 3.875% 12/31/2027 91282CGC9 4,850,000.00 AA+ 2/2/2023 4,906,078.13 3.62% 4,842,046.00 -64,032.13 UNITED STATES TREASURY 1/31/2021 0.750% 1/31/2028 91282CBJ9 5,815,000.00 AA+ 2/7/2023 5,009,758.79 3.83% 5,126,736.60 116,977.81 UNITED STATES TREASURY 1/31/2023 3.500% 1/31/2028 91282CGH8 7,505,000.00 AA+ 5/16/2023 7,508,517.97 3.49% 7,386,571.10 -121,946.87 UNITED STATES TREASURY 2/28/2023 4.000% 2/29/2028 91282CGP0 7,360,000.00 AA+ 5/16/2023 7,532,500.00 3.46% 7,384,140.80 -148,359.20 UNITED STATES TREASURY 2/28/2023 4.000% 2/29/2028 91282CGP0 6,600,000.00 AA+ 3/7/2023 6,526,781.25 4.25% 6,621,648.00 94,866.75 UNITED STATES TREASURY 3/31/2021 1.250% 3/31/2028 91282CBS9 5,820,000.00 AA+ 5/9/2023 5,236,408.59 3.50% 5,218,910.40 -17,498.19 UNITED STATES TREASURY 3/31/2021 1.250% 3/31/2028 91282CBS9 5,470,000.00 AA+ 5/10/2023 4,912,530.08 3.54% 4,905,058.40 -7,471.68 UNITED STATES TREASURY 3/31/2023 3.625% 3/31/2028 91282CGT2 5,765,000.00 AA+ 5/4/2023 5,816,569.73 3.42% 5,702,161.50 -114,408.23 UNITED STATES TREASURY 3/31/2023 3.625% 3/31/2028 91282CGT2 5,030,000.00 AA+ 5/2/2023 5,023,712.50 3.65% 4,975,173.00 -48,539.50 UNITED STATES TREASURY 4/30/2023 3.500% 4/30/2028 91282CHA2 5,075,000.00 AA+ 5/2/2023 5,042,488.28 3.64% 4,994,307.50 -48,180.78 UNITED STATES TREASURY 5/31/2023 3.625% 5/31/2028 91282CHE4 11,735,000.00 AA+ 6/5/2023 11,695,577.73 3.70% 11,610,726.35 -84,851.38 UNITED STATES TREASURY 6/30/2023 4.000% 6/30/2028 91282CHK0 11,300,000.00 AA+ 7/10/2023 11,117,699.22 4.36% 11,353,449.00 235,749.78 UNITED STATES TREASURY 6/30/2023 4.000% 6/30/2028 91282CHK0 1,700,000.00 AA+ 7/3/2023 1,687,183.59 4.17% 1,708,041.00 20,857.41 UNITED STATES TREASURY 7/31/2023 4.125% 7/31/2028 91282CHQ7 4,950,000.00 AA+ 8/2/2023 4,921,962.89 4.25% 5,001,034.50 79,071.61 UNITED STATES TREASURY 8/31/2023 4.375% 8/31/2028 91282CHX2 1,735,000.00 AA+ 8/31/2023 1,742,726.17 4.28% 1,772,146.35 29,420.18 U.S. Treasury Bond / Note Subtotal 431,210,000.00 418,547,638.53 413,581,251.60 -4,966,386.93 FANNIE MAE 7/8/2019 1.750% 7/2/2024 3135G0V75 15,000,000.00 AA+ 12/18/2019 15,566,089.75 0.90% 14,749,800.00 -816,289.75 FANNIE MAE 1/10/2020 1.625% 1/7/2025 3135G0X24 7,500,000.00 AA+ 1/ 22/2020 7,499,025.00 1.63% 7,267,575.00 -231,450.00 FANNIE MAE 4/24/2020 0.625% 4/22/2025 3135G03U5 10,000,000.00 AA+ 5/7/2020 10,050,600.00 0.52% 9,507,800.00 -542,800.00 FANNIE MAE 11/12/2020 0.500% 11/7/2025 3135G06G3 1,860,000.00 AA+ 12/29/2020 1,864,929.00 0.44% 1,732,497.00 -132,432.00 FNMA Medium Term Note Subtotal 34,360,000.00 34,980,643.75 33,257,672.00 -1,722,971.75 FEDERAL FARM CREDIT BANKS 4/22/2019 2.450% 7/22/2024 3133EKHV1 5,000,000.00 AA+ 9/4/2019 5,250,650.00 1.38% 4,932,900.00 -317,750.00 FEDERAL FARM CREDIT BANKS 11/1/2019 1.650% 11/1/2024 3133EK4Y9 5,000,000.00 AA+ 11/ 8/2019 4,962,850.00 1.81% 4,864,250.00 -98,600.00 FEDERAL FARM CREDIT BANKS 1/23/2020 1.650% 1/23/2025 3133ELJM7 7,320,000.00 AA+ 5/18/2020 7,689,367.20 0.56% 7,102,083.60 -587,283.60 FEDERAL FARM CREDIT BANKS 5/14/2020 0.500% 5/14/2025 3133ELZM9 10,000,000.00 AA+ 5/15/2020 9,982,800.00 0.53% 9,466,200.00 -516,600.00 FEDERAL FARM CREDIT BANKS 6/9/2020 0.500% 6/9/2025 3133ELH23 10,000,000.00 AA+ 6/12/2020 9,997,540.00 0.50% 9,450,900.00 -546,640.00 FFCB Medium Term Note Subtotal 37,320,000.00 37,883,207.20 35,816,333.60 -2,066,873.60 FEDERAL FARM CREDIT BANKS 7/2/2020 0.500% 7/2/2025 3133ELR71 10,000,000.00 AA+ 7/14/2020 10,017,640.00 0.46% 9,440,400.00 -577,240.00 FFCB Coupon Note Subtotal 10,000,000.00 10,017,640.00 9,440,400.00 -577,240.00 FEDERAL HOME LOAN BANKS 5/8/2014 2.875% 6/14/2024 3130A1XJ2 5,000,000.00 AA+ 11/20/2019 5,270,205.00 1.64% 4,946,450.00 -323,755.00 FEDERAL HOME LOAN BANKS 12/11/2023 5.480% 9/11/2024 3130AY3C8 5,330,000.00 AA+ 12/18/2023 5,330,533.00 5.48% 5,332,238.60 1,705.60 FEDERAL HOME LOAN BANKS 11/6/2014 2.750% 12/13/2024 3130A3GE8 5,000,000.00 AA+ 3/12/2020 5,461,300.00 0.77% 4,904,550.00 -556,750.00 FHLB Medium Term Note Subtotal 15,330,000.00 16,062,038.00 15,183,238.60 -878,799.40 1/12/2024 2:25 PM 2 of 5
Attachment A
City of Santa Clara Monthly Report
12/31/2023
Description Issue Date Coupon  Rate Maturity  Date CUSIP Par  Value S&P  Rating Settle  Date Cost  Value YTM  at Cost Market  Value Unrealized  G/L FREDDIE MAC 2/14/2020 1.500% 2/12/2025 3137EAEP0 5,000,000.00 AA+ 5/20/2020 5,226,960.00 0.53% 4,827,050.00 -399,910.00 FREDDIE MAC 8/30/2022 4.050% 8/28/2025 3134GXS54 5,000,000.00 AA+ 8/30/2022 4,998,000.00 4.06% 4,933,700.00 -64,300.00 FREDDIE MAC 9/25/2020 0.375% 9/23/2025 3137EAEX3 9,390,000.00 AA+ 9/25/2020 9,361,736.10 0.44% 8,763,968.70 -597,767.40 FREDDIE MAC 10/10/2023 6.000% 10/10/2028 3134H1FT5 4,225,000.00 AA+ 10/10/2023 4,225,000.00 6.00% 4,244,139.25 19,139.25 FHLMC Medium Term Note Subtotal 23,615,000.00 23,811,696.10 22,768,857.95 -1,042,838.15 FANNIEMAE-ACES 7/1/2023 4.190% 7/1/2028 3136BQDE6 8,750,000.00 AA+ 11/30/2023 8,410,595.70 5.14% 8,631,455.00 220,859.30 FANNIEMAE-ACES 7/1/2023 4.190% 7/1/2028 3136BQDE6 7,600,000.00 AA+ 7/31/2023 7,471,156.25 4.58% 7,497,035.20 25,878.95

FHLMC MULTIFAMILY
STRUCTURED P 1/30/2017 3.347% 11/1/2026 3137BTUM1 5,345,997.48 AA+ 5/24/2023 5,181,441.00 4.31% 5,181,233.84 -207.16

FHLMC MULTIFAMILY
STRUCTURED P 5/15/2017 3.224% 3/1/2027 3137BXQY1 8,000,000.00 AA+ 8/18/2023 7,546,250.00 4.98% 7,723,200.00 176,950.00

FHLMC MULTIFAMILY
STRUCTURED P 7/1/2017 3.243% 4/1/2027 3137F1G44 4,545,000.00 AA+ 8/18/2023 4,285,260.35 4.97% 4,383,561.60 98,301.25

FHLMC MULTIFAMILY
STRUCTURED P 8/1/2017 3.117% 6/1/2027 3137F2LJ3 6,525,000.00 AA+ 8/22/2023 6,101,894.53 5.01% 6,262,956.00 161,061.47

FHLMC MULTIFAMILY
STRUCTURED P 7/1/2023 4.819% 6/1/2028 3137HACX2 7,500,000.00 AA+ 7/20/2023 7,574,910.00 4.59% 7,626,150.00 51,240.00

FHLMC MULTIFAMILY
STRUCTURED P 7/1/2023 4.777% 6/1/2028 3137HAD45 6,093,544.55 AA+ 7/27/2023 6,093,392.21 4.78% 6,120,112.40 26,720.19

FHLMC MULTIFAMILY
STRUCTURED P 10/1/2023 4.740% 8/1/2028 3137HAQ74 5,750,000.00 AA+ 10/19/2023 5,623,868.00 5.26% 5,829,580.00 205,712.00 Federal Agency Commercial
Mortgage-Backed Security Subtotal 60,109,542.03 58,288,768.04 59,255,284.04 966,516.00

INTER-AMERICAN
DEVELOPMENT BANK 9/23/2021 0.500% 9/23/2024 4581X0DZ8 11,065,000.00 AAA 9/23/2021 11,056,811.90 0.52% 10,709,481.55 -347,330.35 Supranational Subtotal 11,065,000.00 11,056,811.90 10,709,481.55 -347,330.35

LOS ANGELES COMMUNITY
COLLEGE DISTRICT C 11/10/2020 0.773% 8/1/2025 54438CYK2 2,715,000.00 AA+ 11/10/2020 2,715,000.00 0.77% 2,550,443.85 -164,556.15 Municipals Subtotal 2,715,000.00 2,715,000.00 2,550,443.85 -164,556.15 3M COMPANY 3/27/2020 2.650% 4/15/2025 88579YBM2 2,560,000.00 BBB+ 4/25/2022 2,511,616.00 3.32% 2,479,872.00 -31,744.00 ADOBE INC 1/26/2015 3.250% 2/1/2025 00724FAC5 4,000,000.00 A+ 1/26/2022 4,183,680.00 1.68% 3,929,840.00 -253,840.00 ALPHABET INC 8/9/2016 1.998% 8/15/2026 02079KAC1 5,740,000.00 AA+ 1/30/2023 5,354,386.80 4.05% 5,420,683.80 66,297.00 AMAZON.COM INC 5/12/2021 0.450% 5/12/2024 023135BW5 4,000,000.00 AA 3/ 14/2022 3,932,438.89 1.94% 3,929,320.00 -3,118.89 AMAZON.COM INC 5/12/2021 0.450% 5/12/2024 023135BW5 245,000.00 AA 5/12/2021 244,642.30 0.50% 240,670.85 -3,971.45 AMAZON.COM INC 4/13/2022 3.300% 4/13/2027 023135CF1 6,715,000.00 AA 4/25/2022 6,672,964.10 3.44% 6,518,317.65 -154,646.45 APPLE INC 11/13/2017 2.750% 1/13/2025 037833DF4 5,000,000.00 AA+ 3/29/2021 5,355,200.00 0.84% 4,898,950.00 -456,250.00 APPLE INC 11/13/2017 2.750% 1/13/2025 037833DF4 5,000,000.00 AA+ 3/9/2021 5,340,100.00 0.94% 4,898,950.00 -441,150.00 BANK OF AMERICA CORP 3/22/2022 3.384% 4/2/2026 06051GKM0 5,000,000.00 A- 3/22/2022 5,005,100.00 3.36% 4,862,800.00 -142,300.00 BANK OF AMERICA CORP 8/18/2023 5.526% 8/18/2026 06428CAA2 4,000,000.00 A+ 8/18/2023 3,998,360.00 5.54% 4,073,840.00 75,480.00 1/12/2024 2:25 PM 3 of 5
Attachment A
City of Santa Clara Monthly Report
12/31/2023
Description Issue Date Coupon  Rate Maturity  Date CUSIP Par  Value S&P  Rating Settle  Date Cost  Value YTM  at Cost Market  Value Unrealized  G/L BANK OF AMERICA CORP 4/22/2021 1.734% 7/22/2027 06051GJS9 1,420,000.00 A- 8/10/2022 1,281,251.80 3.92% 1,300,933.00 19,681.20 BANK OF NY MELLON CORP 1/28/2021 0.750% 1/28/2026 06406RAQ0 9,000,000.00 A 2/10/2021 9,025,920.00 0.69% 8,291,790.00 -734,130.00 BLACKROCK INC 3/28/2017 3.200% 3/15/2027 09247XAN1 4,140,000.00 AA- 5/18/2022 4,086,055.80 3.50% 4,010,211.00 -75,844.80 BLACKROCK INC 3/28/2017 3.200% 3/15/2027 09247XAN1 4,140,000.00 AA- 5/18/2022 4,085,352.00 3.50% 4,010,211.00 -75,141.00 BRISTOL-MYERS SQUIBB CO 11/13/2020 0.750% 11/13/2025 110122DN5 5,725,000.00 A 6/ 30/2021 5,672,673.50 0.96% 5,342,398.25 -330,275.25 CITIGROUP INC 9/29/2023 5.803% 9/29/2028 17325FBB3 11,225,000.00 A+ 9/29/2023 11,225,000.00 5.80% 11,720,359.25 495,359.25 ELI LILLY & CO 3/5/2015 2.750% 6/1/2025 532457BH0 5,415,000.00 A+ 2/10/2022 5,559,255.60 1.91% 5,269,769.70 -289,485.90 HERSHEY COMPANY 8/21/2015 3.200% 8/21/2025 427866AU2 3,000,000.00 A 3/30/2022 3,014,040.00 3.05% 2,933,880.00 -80,160.00 HOME DEPOT INC 9/14/2017 2.800% 9/14/2027 437076BT8 7,805,000.00 A 1/ 27/2023 7,364,719.95 4.15% 7,418,808.60 54,088.65 HONEYWELL INTERNATIONAL 5/18/2020 1.350% 6/1/2025 438516CB0 5,000,000.00 A 9/8/2021 5,097,900.00 0.82% 4,773,250.00 -324,650.00 HONEYWELL INTERNATIONAL 5/18/2020 1.350% 6/1/2025 438516CB0 2,255,000.00 A 3/22/2022 2,181,960.55 2.41% 2,152,735.75 -29,224.80 JOHN DEERE CAPITAL CORP 6/17/2021 1.050% 6/17/2026 24422EVR7 5,000,000.00 A 12/8/2021 4,908,600.00 1.47% 4,604,600.00 -304,000.00 JOHN DEERE CAPITAL CORP 7/14/2023 4.950% 7/14/2028 24422EXB0 605,000.00 A 7 /18/2023 610,874.55 4.73% 620,252.05 9,377.50 JOHN DEERE CAPITAL CORP 7/14/2023 4.950% 7/14/2028 24422EXB0 505,000.00 A 7 /14/2023 504,247.55 4.98% 517,731.05 13,483.50 JOHNSON & JOHNSON 8/25/2020 0.550% 9/1/2025 478160CN2 5,000,000.00 AAA 9/ 3/2020 5,023,550.00 0.45% 4,684,200.00 -339,350.00 JPMORGAN CHASE & CO 8/10/2021 0.768% 8/9/2025 46647PCM6 2,340,000.00 A- 8/10/2021 2,340,000.00 0.77% 2,269,027.80 -70,972.20 JPMORGAN CHASE & CO 3/13/2020 2.005% 3/13/2026 46647PBH8 2,800,000.00 A- 3/22/2022 2,712,500.00 2.84% 2,690,072.00 -22,428.00 JPMORGAN CHASE & CO 4/22/2021 1.578% 4/22/2027 46647PCB0 4,100,000.00 A- 8/10/2022 3,710,746.00 3.80% 3,783,562.00 72,816.00 JPMORGAN CHASE & CO 2/24/2022 2.947% 2/24/2028 46647PCW4 2,925,000.00 A- 9/18/2023 2,674,532.25 5.13% 2,751,957.00 77,424.75 MASTERCARD INC 12/3/2019 2.000% 3/3/2025 57636QAN4 5,000,000.00 A+ 3/10/2022 4,990,800.00 2.06% 4,843,950.00 -146,850.00 MASTERCARD INC 12/3/2019 2.000% 3/3/2025 57636QAN4 5,000,000.00 A+ 3/9/2021 5,213,450.00 0.91% 4,843,950.00 -369,500.00 MERCK & CO INC 3/7/2019 2.900% 3/7/2024 58933YAU9 5,375,000.00 A+ 11/23/2021 5,623,916.25 0.85% 5,349,415.00 -274,501.25 MICROSOFT CORP 2/12/2015 2.700% 2/12/2025 594918BB9 5,000,000.00 AAA 3/9/2021 5,341,700.00 0.92% 4,892,700.00 -449,000.00 MICROSOFT CORP 11/3/2015 3.125% 11/3/2025 594918BJ2 5,100,000.00 AAA 1/25/2023 4,940,982.00 4.33% 4,978,008.00 37,026.00 NOVARTIS CAPITAL CORP 11/20/2015 3.000% 11/20/2025 66989HAJ7 10,000,000.00 AA- 1/31/2023 9,638,600.00 4.38% 9,723,700.00 85,100.00 QUALCOMM INC 5/20/2015 3.450% 5/20/2025 747525AF0 5,850,000.00 A 5/19/2022 5,860,588.50 3.39% 5,743,588.50 -117,000.00 STATE STREET BANK & TR 2/7/2022 1.746% 2/6/2026 857477BR3 1,115,000.00 A 2/7 /2022 1,115,000.00 1.75% 1,071,414.65 -43,585.35 STATE STREET BANK & TR 10/29/2020 2.901% 3/30/2026 857477BM4 4,250,000.00 A 3/14/2022 4,275,372.50 2.74% 4,129,257.50 -146,115.00 TARGET CORP 1/24/2022 1.950% 1/15/2027 87612EBM7 4,595,000.00 A 2/1/2022 4,567,889.50 2.08% 4,286,997.15 -280,892.35 TARGET CORP 1/24/2022 1.950% 1/15/2027 87612EBM7 990,000.00 A 1 /24/2022 988,317.00 1.99% 923,640.30 -64,676.70 TOYOTA MOTOR CREDIT CORP 9/11/2023 5.250% 9/11/2028 89236TLB9 5,600,000.00 A+ 9/11/2023 5,590,256.00 5.29% 5,798,576.00 208,320.00 WAL-MART STORES INC 6/27/2018 3.550% 6/26/2025 931142ED1 5,700,000.00 AA 2/8/2022 6,011,847.00 1.87% 5,620,200.00 -391,647.00 Corporate Note Subtotal 188,235,000.00 187,836,386.39 182,604,389.85 -5,231,996.54

AMERICAN EXPRESS CREDIT
ACCOUN 9/19/2023 5.230% 9/15/2028 02582JKD1 6,170,000.00 AAA 9/19/2023 6,169,724.20 5.23% 6,269,707.20 99,983.00 BANK OF AMERICA AUTO TRUST 7/31/2023 5.530% 2/15/2028 06428AAC2 3,120,000.00 NR 7/31/2023 3,119,881.75 5.53% 3,156,223.20 36,341.45 BANK OF AMERICA AUTO TRUST 11/21/2023 5.740% 6/15/2028 06054YAC1 6,595,000.00 NR 11/21/2023 6,594,880.63 5.74% 6,720,832.60 125,951.97

BANK OF AMERICA CREDIT
CARD TR 12/14/2023 4.980% 11/15/2028 05522RDH8 3,045,000.00 NR 12/ 14/2023 3,044,591.06 4.98% 3,080,443.80 35,852.74 CARMAX AUTO OWNER TRUST 4/21/2021 0.520% 2/17/2026 14314QAC8 950,591.79 AAA 4/21/2021 950,386.95 0.52% 929,507.66 -20,879.29 CHASE ISSUANCE TRUST 9/15/2023 5.160% 9/15/2028 161571HT4 6,045,000.00 AAA 9/ 15/2023 6,043,324.33 5.17% 6,138,516.15 95,191.82

CITIBANK CREDIT CARD
ISSUANCE 12/1/2023 5.230% 12/1/2027 17305EGW9 1,855,000.00 AAA 12/11/2023 1,854,767.38 5.23% 1,868,838.30 14,070.92

DISCOVER CARD EXECUTION
NOTE TRUST 9/27/2021 0.580% 9/15/2026 254683CP8 2,100,000.00 AAA 9/27/2021 2,099,550.39 0.58% 2,031,582.00 -67,968.39 1/12/2024 2:25 PM 4 of 5
Attachment A
City of Santa Clara Monthly Report
12/31/2023
Description Issue Date Coupon  Rate Maturity  Date CUSIP Par  Value S&P  Rating Settle  Date Cost  Value YTM  at Cost Market  Value Unrealized  G/L FIFTH THIRD AUTO TRUST 8/23/2023 5.530% 8/15/2028 31680EAD3 5,270,000.00 AAA 8/23/2023 5,269,673.26 5.53% 5,343,094.90 73,421.64

HONDA AUTO RECEIVABLES
OWNER T 11/24/2021 0.880% 1/21/2026 43815GAC3 1,124,931.88 NR 11/ 24/2021 1,124,694.74 0.89% 1,091,577.65 -33,117.09

HONDA AUTO RECEIVABLES
OWNER T 8/22/2023 5.410% 2/18/2028 43815QAC1 4,825,000.00 AAA 8/22/2023 4,824,005.09 5.42% 4,887,676.75 63,671.66

HYUNDAI AUTO RECEIVABLES
TRUST 4/28/2021 0.380% 9/15/2025 44933LAC7 455,493.43 AAA 4/ 28/2021 455,445.51 0.38% 449,048.20 -6,397.31

HYUNDAI AUTO RECEIVABLES
TRUST 11/17/2021 0.740% 5/15/2026 44935FAD6 859,690.03 AAA 11/17/2021 859,498.15 0.75% 836,349.45 -23,148.70

HYUNDAI AUTO RECEIVABLES
TRUST 11/13/2023 5.540% 10/16/2028 44918CAD4 2,530,000.00 AAA 11/13/2023 2,529,667.31 5.54% 2,582,472.20 52,804.89 KUBOTA CREDIT OWNER TRUST 7/26/2023 5.280% 1/18/2028 500945AC4 1,925,000.00 NR 7/ 26/2023 1,924,513.75 5.29% 1,946,579.25 22,065.50

TOYOTA AUTO RECEIVABLES
OWNER 9/27/2021 0.430% 1/15/2026 89239BAC5 1,556,506.91 AAA 9/27/2021 1,556,382.86 0.43% 1,515,088.26 -41,294.60

TOYOTA AUTO RECEIVABLES
OWNER 8/15/2023 5.160% 4/17/2028 89231FAD2 1,505,000.00 AAA 8/15/2023 1,504,659.57 5.17% 1,515,640.35 10,980.78

TOYOTA AUTO RECEIVABLES
OWNER 11/14/2023 5.540% 8/15/2028 89239FAD4 1,725,000.00 AAA 11/14/2023 1,724,814.05 5.54% 1,758,654.75 33,840.70 USAA AUTO OWNER TRUST 9/15/2023 5.580% 5/15/2028 90291VAC4 6,030,000.00 AAA 9/15/2023 6,028,944.75 5.58% 6,103,445.40 74,500.65 Asset-Backed Security Subtotal 57,687,214.04 57,679,405.73 58,225,278.07 545,872.34 COOPERATIEVE RABOBANK U.A. 7/20/2023 5.080% 7/17/2026 21684LGS5 7,500,000.00 A+ 7/20/2023 7,500,000.00 5.08% 7,595,475.00 95,475.00

TORONTO DOMINION BANK N
Y 10/31/2022 5.470% 10/25/2024 89115B6F2 7,270,000.00 A 10/31/2022 7,270,000.00 5.44% 7,289,192.80 19,192.80 Certificate of Deposit Subtotal 14,770,000.00 14,770,000.00 14,884,667.80 114,667.80

PRINCIPAL PUBLIC DEPOSIT
SWEEP PROGRAM 2.850% 1/1/2024 992995944 406,278.37 9/1/2020 406,278.37 406,278.37 -

LOCAL AGENCY INVESTMENT
FUND 3.930% 1/1/2024 5,813,383.07 9/30/1997 5,813,383.07 5,813,383.07 -

CALIFORNIA ASSET
MANAGEMENT PROGRAM 5.550% 1/1/2024 165,202,118.40 10/4/2022 165,202,118.40 165,202,118.40 -

DREYFUS TREASUR
Y 5.250% 1/1/2024 2,289,329.06 10/31/1997 2,289,329.06 2,289,329.06 - Cash Equivalent Subtotal 173,711,108.90 173,711,108.90 173,711,108.90 - Grand Total Count 162 1,060,127,864.97 1,047,360,344.54 1,031,988,407.81 (15,371,936.73) 1/12/2024 2:25 PM 5 of 5
Attachment A
Attachment 5
Department/Item
Source of
Funds
Use of
Funds Explanation
Transfer to City Affordable
Housing Fund
4,944,484 Establishes a transfer to the City Affordable Housing Fund for the loan to the Charities Housing
Development Corporation of Santa Clara County for
the Civic Center project (majority affirmative
Council votes required).

Civic Center Drive - Low
Income Housing Project
(4,944,484) On November 14, 2023, the City Council approved Report to Council 23-952, which appropriated $3.3
million for the Civic Center project, bringing the total budget to $4.9 million in the City Affordable Housing
Capital Fund. Because this funding will be treated
as a loan to the Charities Housing Development
Corporation of Santa Clara County, it is
recommended to transfer this funding to the City
Affordable Housing Fund, to keep consistent with
how other housing developer loans are treated
(majority affirmative Council votes required).
- -
Department/Item
Source of
Funds
Use of
Funds Explanation
Transfer From City Affordable
Housing Capital Fund /
Special Disbursements
4,944,484 4,944,484 Recognizes a transfer from the City Affordable Housing Capital Fund. On November 14, 2023, the
City Council approved Report to Council 23-952,
which appropriated $3.3 million for the Civic Center
project, bringing the total budget to $4.9 million in
the City Affordable Housing Capital Fund. Because
this funding will be treated as a loan to the
Charities Housing Development Corporation of
Santa Clara County, it is recommended to transfer
this funding to the City Affordable Housing Fund, to
keep consistent with how other housing developer
loans are treated (majority affirmative Council
votes required).
4,944,484 4,944,484
FY 2023/24 Budget Amendments
City Affordable Housing Capital Fund (565)
City Affordable Housing Fund (165)
1 Attachment 5
FY 2023/24 Budget Amendments
Department/Item
Source of
Funds
Use of
Funds Explanation
Transfer From Convention
Center Enterprise Fund / Santa
Clara Convention Center
Condition Assessment Repair
Project
125,000 125,000 Recognizes and appropriates a transfer from the Convention Center Enterprise Fund for the Santa
Clara Convention Center Condition Assessment
Repair project to provide funding to complete the
repairs for the electrical signage (five affirmative
Council votes required to appropriate additional
revenue).
125,000 125,000
Department/Item
Source of
Funds
Use of
Funds Explanation
Transfer to Convention Center
Capital Fund
125,000 Increases the transfer to the Convention Center Capital Fund for the Santa Clara Convention Center
Condition Assessment Repair project to provide
funding for higher than anticipated costs for
electrical signage repair (five affirmative Council
votes required for the use of unused balances).

Unrestricted Ending Fund
Balance
(125,000) Decreases the unrestricted ending fund balance to offset the action recommended above (five
affirmative Council votes required for the use of
unused balances).
- -
Department/Item
Source of
Funds
Use of
Funds Explanation
Developer Contributions /
Transfer to the Streets and
Highways Capital Fund
(1,108,500) (1,108,500) Decreases the Developer Contributions revenue estimate and the transfer to the Streets and
Highways Capital Fund associated with the
Multimodal Improvement Plan Phase 1 Projects
($578,500) and Multimodal Improvement Plan
Phase 2 Projects ($530,000) as they are currently
on hold with Related Santa Clara (majority
affirmative Council votes required).
(1,108,500) (1,108,500)
Developer Traffic Payments Fund (124)
Convention Center Capital Fund (865)
Convention Center Enterprise Fund (860)
2 Attachment 5
FY 2023/24 Budget Amendments
Department/Item
Source of
Funds
Use of
Funds Explanation
Transfer from the Electric
Utility Fund / New Business
Estimate Work Project
6,000,000 6,000,000 Recognizes a transfer from the Electric Utility Fund and increases the New Business Estimate Work
project to procure material and construct new
electric distribution facilities to serve new
customers, new development, and existing
customers' requests for electric service, relocation,
and increased electric load. An increase of material
and construction costs along with additional staff
time is expected to increase the cost to complete
these connections (five affirmative Council votes
required to appropriate additional revenue).

Transfer from the Water Utility
Capital Fund
191,500 Recognizes a transfer from the Water Utility Capital Fund to fund the Fiber Development, Design, and
Expansion Project (five affirmative Council votes
required to appropriate additional revenue).

Other Revenue (Developer
Contributions)
1,400,000 Increases the Other Revenue Estimate to account for Developer Contributions expected to be received
for the Fiber Development, Design, and Expansion
project (five affirmative Council votes required
to appropriate additional revenue).

Fiber Development, Design,
and Expansion Project
1,591,500 Increases the Fiber Development, Design, and
Expansion project to connect several new customer
related substations with fiber as required for the
completion of their projects and to perform work
requested from the Water Department to connect
three wells with fiber. The substations are funded by
developer deposits which will be received from
customers, and the fiber connection for the Water
Department is funded by a transfer from the Water
Utility Capital Fund, reallocating funding from the
SCADA Improvements project (five affirmative
Council votes required to appropriate additional
revenue).

Electric Utility Capital Fund (591)
3 Attachment 5
FY 2023/24 Budget Amendments
Department/Item
Source of
Funds
Use of
Funds Explanation
Transmission and Distribution
Capital Maintenance and
Betterments Project
1,000,000 Increases the Transmission and Distribution Capital Betterments project to account for expected
increases in material costs for planned transmission
and distribution maintenance work. This work is
performed as part of the preventative maintenance
program and identified through scheduled
infrastructure inspections. Funding for these
additional costs are available in the unrestricted
fund balance (five affirmative Council votes
required for the use of unused balances).

Storm Water Compliance
Project
150,000 Increases the Storm Water Compliance project to cover final closeout expenses, this includes
purchase of additional stormwater filters, and
associated SVP and Department of Public Works
inspection staff time. Funding for these additional
costs are available in the unrestricted fund balance
(five affirmative Council votes required for the
use of unused balances).

Unrestricted Ending Fund
Balance
(1,150,000) Decreases the Unrestricted Ending Fund Balance to offset the actions above (five affirmative Council
votes required for the use of unused balances).
7,591,500 7,591,500
Department/Item
Source of
Funds
Use of
Funds Explanation
Transfer to the Electric Utility
Capital Fund
6,000,000 Increases the transfer to the Electric Utility Capital Fund to provide additional funding for the New
Business Estimate Work project (five affirmative
Council votes required for the use of unused
balances).

Unrestricted Ending Fund
Balance
(6,000,000) Decreases the Unrestricted Ending Fund Balance to offset the actions above (five affirmative Council
votes required for the use of unused balances).
- -
Electric Utility Fund (091)
Electric Utility Capital Fund (591) (Cont'd.)
4 Attachment 5
FY 2023/24 Budget Amendments
Department/Item
Source of
Funds
Use of
Funds Explanation
Other Agencies Revenue /
2022 Emergency Management
Preparedness Grant
2,600 2,600 Recognizes and appropriates $2,600 in additional grant funding for the Santa Clara County
Emergency Management Performance Grant. The
additional funding will cover costs for the Alumni
Professional Exchange Continuing Education
Workshop at the Naval Postgraduate School and
other emergency management staff trainings (five
affirmative Council votes required to
appropriate additional revenue).

Other Agencies Revenue /
2023 County of Santa Clara
Emergency Medical Services
Grant
51,446 51,446 Establishes a grant appropriation for the 2023 Emergency Medical Services County Patient Care
System grant. The grant will reimburse costs for the
purchase of devices and supporting hardware
required to meet field capture requirements for
patient care records, as outlined in the Santa Clara
County Prehospital Care Policy. This grant will also
reimburse costs associated with the purchase of
medication that will improve the capabilities of care
during a terrorist nerve agent attack. These
activities support the Fire Department's Emergency
Medical Services Division
(five affirmative Council
votes required to appropriate additional
revenue).
54,046 54,046
Fire Operating Grant Trust Fund (178)
5 Attachment 5
FY 2023/24 Budget Amendments
Department/Item
Source of
Funds
Use of
Funds Explanation
Transfer from the Developer
Traffic Payments Fund
(1,108,500) Decreases the transfers associated with the Multimodal Improvement Plan Phase 1 Projects
($578,500) and Multimodal Improvement Plan
Phase 2 Projects ($530,000) as they are currently
on hold with Related Santa Clara (majority
affirmative Council votes required).

Transfer from the Traffic
Mitigation Fund
(221,500) Decreases the transfers associated with the
Multimodal Improvement Plan Phase 1 Projects
($161,500) and Multimodal Improvement Plan
Phase 2 Projects ($60,000) as they are currently on
hold with Related Santa Clara
(majority affirmative
Council votes required).

Developer Contributions (750,000) Decreases the Developer Contributions revenue estimate associated with the Multimodal
Improvement Plan Phase 2 Projects that is currently
on hold with Related Santa Clara (majority
affirmative Council votes required).

Multimodal Improvement Plan
Phase 1 Projects
(740,000) Defunds the project budget as the project is
currently on hold with Related Santa Clara.

Associated revenues, a transfer from the Developer
Traffic Payments Fund of $578,500 and a transfer
from the Traffic Mitigation Fund of $161,500, are
also removed. As Related moves forward, the
project may be rescoped and brought forward in a
future budget action (majority affirmative Council
votes required).

Multimodal Improvement Plan
Phase 2 Projects
(1,340,000) Defunds the project budget as the project is currently on hold with Related. Associated
revenues, developer contributions of $750,000, a
transfer from the Developer Traffic Payments Fund
of $530,000, and a transfer from the Traffic
Mitigation Fund of $60,000, are also removed. As
Related moves forward, the project may be
rescoped and brought forward in a future budget
action (majority affirmative Council votes
required).
(2,080,000) (2,080,000)
Streets and Highways Capital Fund (533)
6 Attachment 5
FY 2023/24 Budget Amendments
Department/Item
Source of
Funds
Use of
Funds Explanation
Developer Contributions /
Transfer to the Streets and
Highways Capital Fund
(221,500) (221,500) Decreases the Developer Contributions revenue estimate and the transfer to the Streets and
Highways Capital Fund associated with the
Multimodal Improvement Plan Phase 1 Projects
($161,500) and Multimodal Improvement Plan
Phase 2 Projects ($60,000) as they are currently on
hold with Related (majority affirmative Council
votes required).
(221,500) (221,500)
Department/Item
Source of
Funds
Use of
Funds Explanation
SCADA Improvements Project (191,500) Decreases the SCADA Improvements Project to transfer funds to the Fiber Development, Design,
and Expansion Project in the Electric Utility Capital
Fund (majority affirmative Council votes
required).

Transfer to the Electric Utility
Capital Fund
191,500 Establishes a transfer to the Electric Utility Capital Fund to connect three wells with fiber in the Fiber
Development, Design, and Expansion Project
(majority affirmative Council votes required).
- -
Water Utility Capital Fund (592)
Traffic Mitigation Fund (123)
7 City of Santa Clara
Agenda Report
1500 Warburton Avenue
Santa Clara, CA 95050
santaclaraca.gov
@SantaClaraCity
24-103 Agenda Date: 3/5/2024

REPORT TO COUNCIL

SUBJECT
Action to Authorize the City Manager to Execute the First Amendment to Central Valley Project Corporation Membership Agreement to Extend the Term for Ten Years

COUNCIL PILLAR
Deliver and Enhance High Quality Efficient Services and Infrastructure Promote Sustainability and Environmental Protection

BACKGROUND
In 2003, the City Council approved the Central Valley Project Corporation Membership Agreement (Agreement) and delegated authority to the City Manager to execute exhibits to the Agreement on behalf of the City of Santa Clara in order to participate in specific voluntary programs. Prior to 2003, the Northern California Power Agency (NCPA) and its members, including the City of Santa Clara, did not have a nimble way to respond to funding needs related to the Central Valley Project (CVP). The CVP is a large federal and water management project which generates carbon-free energy (Base Resource) from its hydroelectric projects in addition to other benefits. Santa Clara receives power from this Base Resource. The NCPA Commission, at its September 26, 2002, meeting, directed NCPA staff to establish the Central Valley Project Corporation (CVP Corp) with the goal of protecting, and if possible, enhancing the benefits of CVP power contracts for its constituent members. Today, the CVP Corp has 24 members, including both NCPA and non-NCPA members.

Since 2003, CVP Corp established several programs, including 1) the Restoration Fund Financing, 2) the Energy Exchange Arrangement for Project Use and First Preference Support, and 3) the Base Resource Displacement Program. While the first two programs have since been terminated due to lack of need, CVP Corp’s current sole activity is the Base Resource Displacement Program. This program allows Base Resource customers in the California Independent System Operator (CAISO) balancing area to exchange energy with other Base Resource customers outside of the CAISO grid balancing area in order to avoid energy import charges. This displacement program has resulted in cost-savings to SVP ratepayers.

The Agreement is set to expire on December 31, 2024. However, at its last board meeting, the CVP Corp participants voted to extend the Agreement for an additional 10 years and the Displacement of Base Resource Program for an additional 2 years. To remain a member of the CVP Corp, Santa Clara must execute the First Amendment to the CVP Corp Membership Agreement.

DISCUSSION
Although there is currently only 1 active program, CVP Corp has been exploring other opportunities for CVP Corp members to collaborate in the future to extract the value of the Base Resource power.

The cost of operating CVP Corp is approximately $31,000 per year and is collectively shared among City of Santa Clara Printed on 3/1/2024Page 1 of 2
powered by Legistar™
24-103 Agenda Date: 3/5/2024
all CVP Corp members. These annual costs include General Counsel and Board expenses, accounting services, management services, and insurance. The operating cost of CVP Corp is recovered through an annual administrative fee that is allocated to members based on their percentage share of electrical power from the Base Resource power. The administrative fee for Santa Clara for FY 2024 is $3,409 for the entire year, however, because of CVP Corp’s net asset position, the CVP Corp Board voted to waive the administrative fee for all members for 2024.

Generally, Santa Clara’s administration fee has averaged approximately $4,100 per year over the last eight years. Staff recommends the approval of the extension of the Agreement so that Santa Clara can continue its participation in the CVP Corp activities that are beneficial to SVP ratepayers.

ENVIRONMENTAL REVIEW
The action being considered does not constitute a “project” within the meaning of the California Environmental Quality Act (“CEQA”) pursuant to section 15378(b)(5) of Title 14 of the California Code of Regulations in that it is an administrative activity that will not result in direct or indirect physical changes in the environment as it solely extends the term.

FISCAL IMPACT
Staff will incorporate the cost of CVP Corp Membership into its annual budget.

COORDINATION
This report has been coordinated with the Finance Department and the City Attorney’s Office.

PUBLIC CONTACT
Public contact was made by posting the Council agenda on the City’s official-notice bulletin board outside City Hall Council Chambers. A complete agenda packet is available on the City’s website and in the City Clerk’s Office at least 72 hours prior to a Regular Meeting and 24 hours prior to a Special Meeting. A hard copy of any agenda report may be requested by contacting the City Clerk’s Office at (408) 615-2220, [email protected] <mailto:[email protected]> or at the public information desk at any City of Santa Clara public library.

RECOMMENDATION

1. Authorize the City Manager to execute the First Amendment to Central Valley Project Corporation Membership Agreement to extend the term for ten years in a final form approved by the City Attorney; and

2. Authorize the City Manager, or designee, to take any and all necessary or advisable actions to implement and administer the Agreement as amended.

Reviewed by: Manuel Pineda, Chief Electric Utility Officer Approved by: Jovan D. Grogan, City Manager
Attachments:

1. Central Valley Project Corporation Membership Agreement

2. First Amendment to the Central Valley Project Corporation Membership Agreement City of Santa Clara Printed on 3/1/2024Page 2 of 2
powered by Legistar™

CENTRAL VALLEY PROJECT CORPORATION MEMBERSHIP

AGREEMENT
CffY CLERK FILE COPY
This Membership Agreement (this "Agreement") is made and entered into effective as of J";..,ly 1$ , 2003 between the Central Valley Project Corporation, a California -nonprofit corporation ("CVP Corp"), and each undersigned participant, collectively referred to as "Participants" and individually as a "Participant." The CVP Corp and any of the Participants individually are called "Party" and collectively are called "Parties."
Whereas, the CVP Corp is formed for the benefit ot: and to carry out the purposes ot: the Participants by helping the Participants achieve cost savings and efficiencies; and Whereas, the CVP Corp can benefit the Participants by facilitating CVP customer involvement in activities associated with the Western Area Power Administration ("Western") and others; and
Whereas, the CVP Corp was also formed to act as a funding agent for those CVP customers that voluntarily requested that service; and
Whereas, the Participants through the CVP Corp will provide review, funding, and oversight for selected activities and projects on a case by case basis for those items requiring funding; and
Whereas, the CVP Corp has entered into a contract with Western to act as payment agent for certain Participants; and
Whereas, each undersigned Participant agrees to become a member and may choose which activities, services, and/or projects it would like to participate in as offered by the CVP Corp; and
Whereas, each Participant is willing to fund a proportionate share of the funding commitment for each activity, service, and/or projects that the Participant has agreed to participate in as delineated in the applicable Exhibit.

Now, therefore, in consideration of the terms, conditions and obligations of the CVP Corp and the Participants in this Agreement, the Parties agree as follows:
a) Exhibits Made Part of Agreement. Each activity, service and/or project offered by the CVP Corp shall be delineated in an Exhibit, which shall become a part of this Agreement during the term fixed by its provisions.

Exhibit(s) existing under this Agreement may change during the term hereof, provided, however, that each Exhibit attached hereto shall be in force and effect in accordance with its terms until respectively superseded by a subsequent exhibit, as allowed by the terms of the exhibit.

DOCSSC I :324625.2
b) Funding Commitment: Each undersigned Participant hereby agrees to fund a pro-rata share of the total funding commitment for each activity, service or project in which the Participant agrees to participate as delineated in the applicable Exhibit. Each Participant further agrees to fund a pro-rata share of the CVP Corp's start-up and administrative costs as determined by the CVP Corp Board of Directors annually. A Participant may withdraw from funding the activity designated in an Exhibit in accordance with the withdrawal terms contained in the Exhibit but only after all of the obligations it has committed to fund to date have been satisfied.
c) Deposit and Use of Funds: The Participant hereby appoints CVP Corp and CVP Corp hereby accepts appointment as payment agent for the Participant for purposes of accepting funds provided by the Participant to satisfy the funding commitments in each Exhibit(s) designated by the Participant and disbursing those funds as required by each Exhibit. Each Participant shall deposit its pro-rata share of the funding commitment with the CVP Corp, acting on behalf of and as an agent for all of the Participants, in payments as described in the Exhibit(s). The CVP Corp will deposit, hold and maintain an accounting for the funds received from the Participants and use such funds only for the purposes of satisfying the funding commitment of the Participant.

In the event the Participants' funds are received prior to the time they are to be disbursed pursuant to the Exhibit, such funds shall be invested pursuant to investment policies established by the CVP Corp Board of Directors and net earnings from such investment shall be retained for the benefit of the Participant. If any funds remain after commitments for any period have been satisfied in full, the remaining funds shall be returned to the Participants in proportion to the amount contributed by each Participant. Participant acknowledges and agrees that CVP Corp may engage third parties for the :financial management of all funds received and that such funds may be commingled with those of other Participants and third parties. d) Investment Earnings. The CVP Corp will invest funds paid to the CVP Corp by the Participants, and will track the interest and/or earnings applicable to each Participant; any net earnings will be credited to each Participant in proportion to the individual Participant's amount of funds retained and being managed by the CVP Corp. Periodic reports will be provided at least annually to each participant showing the total amount of payments made to the CVP Corp, including the amount of payments made by the CVP Corp on behalf of the Participant and the net earnings credited to the Participant. e) Obligation for Payment of Pro-Rata Share. Each Participant shall pay its funding commitment to the CVP Corp in payments as stated in the applicable Exhibits. The CVP Corp intends to request funds from the Participant at such times and in such amounts as necessary to meet the obligations contained in the Exhibit(s). If a Participant fails to make a payment within the time period DOCSSCI :324625.2
listed in the Exhibit the Participant will be considered to be in default as to that Exhibit.
t) Right of Set-off. If a Participant defaults as to its obligations under any Exhibit, the CVP Corp shall have the right to utilize any excess funds credited to that Participant under any other Exhibit(s) , including the Participant's share of interest or earnings, in order to satisfy the Participant's outstanding obligations.
g) Resolution of Disputes. The Parties will use good faith efforts to settle all disputes arising under, or in relation to, this Agreement. Should any dispute remain unresolved for a period of twenty (20) days, such dispute shall be forwarded to the Board of Directors for resolution. The Board of Directors shall meet within thirty (30) days to discuss and attempt to reach a resolution of the dispute. If a Participant fails to meet all of its obligations, it will be excluded from participating in the CVP Corp's activities, services and/or projects until its outstanding obligations are satisfied or otherwise resolved .

The Participant's obligations under this Agreement shall remain until satisfied, unless otherwise modified by procedures to resolve any outstanding disputes, or settled by legal proceedings, with any and all accrued interest due as a result oflate payments to the CVP Corp. No Participant shall be liable under this Agreement for the obligations of any other Participant. h) Budgets and Billing Procedures. Budgets and billing procedures will be delineated in the applicable Exhibit.
i) Board of Directors. The Board of Directors will make decisions concerning the administration of the CVP Corp's rights and obligations under this agreement.
j) Term of the Agreement; Termination. This Agreement shall become effective upon execution by the CVP Corp and upon the signature of a sufficent number of Participants as determined by the CVP Corp Board of Directors and, unless earlier terminated, shall remain in effect until December 31, 2024 . This Agreement may be terminated by CVP Corp (i) if the CVP Corp Board of Directors determines that CVP Corp's activities, services and/or projects are not effective and efficient; provided, however, that such termination will not be effective until CVP Corp shall have received written notice from Western that all current obligations of the CVP Corp under the CVP Corp/W estem Agreement have been completed and provided further that CVP Corp shall have provided a one hundred twenty (120) day written notice to all Participants prior to such termination or (ii) sixty ( 60) days following a default under of this Agreement or any Exhibit by the Participant which remains uncured for sixty (60) days provided that CVP Corp shall have provided a one hundred twenty (120) day written notice to such Participant prior to such termination. Any Participant may terminate its individual DOCSSC I :324625 .2
participation in the Agreement by providing a one hundred twenty (120) day written notice to the CVP Corp; provided, however, that such termination by the Participant shall not be effective until all the Participant's outstanding obligations are met as delineated in the Exhibit(s).
k) Miscellaneous Provisions.

DOCSSCI :324625 2
a) Limitation of Liability. In no event shall any party hereto be liable for any special, incidental, indirect or consequential (including loss of profit) or punitive damages in connection with this agreement, whether based on breach of contract, breach of warranty, strict liability in tort or any other cause of action.
b) Attorneys' Fees. If any action at law or in equity (including arbitration) is necessary to enforce or interpret the terms of this Agreement, the prevailing party shall be entitled to reasonable attorneys' fees, costs and necessary disbursements in addition to any other relief to which such party may be entitled.
c) Entire Agreement. This Agreement, including the Exhibits hereto, constitutes the entire agreement of the parties and supersedes all oral negotiations and prior writings with respect to the subject matter hereof
d) Assignment. Neither a Participant nor the CVP Corp may assign this Agreement without prior written consent of the Participant and the CVP Corp.
e) Amendment; Waiver of Breach. Any term of this Agreement may be amended or waived only with the written consent of the Participant and the CVP Corp. No waiver of any term or breach of any ofthe provisions contained in this Agreement or any Exhibit shall be construed to be a waiver of any subsequent breach of the same or of any other provision of this Agreement.
t) Choice of Law. The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the State of California, without giving effect to the principles of conflict of laws.
g) Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together will constitute one and the same instrument.

DOCSSC 1:324625.2
h) Successors and Assigns. Subject to the provision of the Agreement, all of the terms, covenants and conditions of this Agreement shall inure to the benefit of and shall bind the parties hereto and their permitted successors and assigns.
i) Separate Entities. The CVP Corp and each Participant are separate entities, and nothing in this Agreement shall be construed to create or imply any partnership or joint venture among the entities or any of them, or to create any rights or liabilities of any entity hereto for rights or liabilities of any other entity hereto, except to the extent otherwise expressly provided herein or in any other agreement between the entities.
j) Severability. If any clause, sentence, paragraph, or part of this Agreement should for any reason be finally adjudged by any court of competentjurisdiction to be unconstitutional or invalid, suchjudgment shall not affect, impair or invalidate the remainder of the Agreement but shall be confined in its operation to the clause, sentence, paragraph, or part thereof directly involved in the controversy in which the judgment is rendered. lfsuchjudgment modifies or holds invalid any material terms or conditions of the Agreement in such a manner that either the CVP Corp or any Participant( s) is required to incur new or different obligations not expressly provided herein or forego benefits which it was otherwise entitled to, these entities shall in good faith renegotiate the terms and conditions affected by the judgment so as to restore the original balance of benefits and burdens contemplated by the entities as of the effective date of this Agreement. Such renegotiated terms and conditions shall be in the form of an amendment to the Agreement that shall be effective upon execution by the CVP Corp or any Participant(s). The original Agreement shall remain in full force and effect, as modified by said judgment, until the negotiation process for the amendment is complete.

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

By: ~~~~,------
[Name
Chair,
Participant .

Byrl~~rMIBfr
Na ~JJ !;Sf~e-;AJD
Tit1e: c_ 1,f MAN A--GE:i€-
.,->ROVED AS TO FORM
7----zy--n f ,, qz~· :::-, <- ~
~;;UTV Cm' AYTOINff
DOCS SC 1.324625 .2
Exhibit A to The Central Valley Project Corporation
Membership Agreement

EXHIBIT A
(FINANCING OF RESTORATION FUND)

1. This Exhibit A, to be effective under and as part of the CVP Corp Membership Agreement (Agreement), shall become effective upon execution of the Agreement and this Exhibit A; and shall remain in effect until either superseded by another Exhibit A, terminated in accordance with this Exhibit A or the Agreement, or termination of the CVP Corp and Western contract.

2. The Parties have determined that the CVP Restoration Fund is a desirable business activity to be funded with CVP Corp Funds to provide Participants more efficient budgetary control through improved predictability of funding requirements.

3. DEFINITION OF TERMS:

3.1 CVP Improvement Act of 1992 (CVPIA): A legislative act, enacted on October 30, 1992, that defines provisions for habitat restoration, improvement, acquisition, and other fish and wildlife restoration activities in the CVP.

3.2 Letter of Agreement: Letter of Agreement No. 93-SAO-10156, a written agreement between the Bureau of Reclamation (Reclamation) and Western that establishes procedures to deposit the Restoration payments collected from CVP Power Contractors into the Restoration Fund.

3.3 Power Contractor: An entity purchasing CVP power from Western for a period in excess of 1 year.

3.4 Power Restoration Payment Obligation (PRPO): The portion of the total Restoration payment obligation calculated and assigned annually to CVP Power Contractors by Reclamation.

3.5 Restoration Fund: Fund established in the Treasury of the United States to carry out the habitat restoration, improvement and acquisition provisions of the CVPIA. The Secretary of the Interior annually assesses mitigation and restoration payments from CVP water and power contractors. Such assessments are deposited into the Restoration Fund.

Exhibit A to CVP Q:xp fv1emoorship ,Ageerrent Page 1 of 5 Exhibit A to The Central Valley Project Corporation
Membership Agreement

4. THE RESTORATION FUND PROGRAM:

4.1 Under the current Restoration Fund collection procedures, on or about July 1st of each fiscal year (FY), Reclamation notifies Western of the total PRPO for the upcoming FY. Upon receipt of notification, Western will advise the CVP Corp of the annual PRPO and the monthly amounts to be collected from the Power Contractors.

The method by which Western determines the annual PRPO obligation for each Power Contractor will be detailed in the procedures in effect at that time as documented in the applicable Federal Register Notice. Currently, Reclamation notifies Western, usually in April if a midyear adjustment is needed to the initial PRPO determined in the previous July. If a midyear adjustment to the PRPO does occur, Western will recalculate each Power Contractor's annual PRPO and notify the CVP Corp. In the event the Restoration Fund collection procedures change, the Parties will determine if corresponding changes need to be made to this Exhibit.

4.2 Participants will complete a billing change of address letter as shown in Attachment 1 of the CVP Corp and Western contract. Upon receipt of the billing change of address letter, Western will send the respective Participant's monthly Restoration Fund bill to the CVP Corp for payment. Under the current procedures, bills shall typically be received on or about the twenty-fifth (25th), but no later than the last day of the month. The Restoration Fund billing cycle for each FY will begin within 30 days following August 1st or the date written notification of the annual PRPO is received from Reclamation, whichever occurs later.

4.3 The CVP Corp is responsible for payment to Western from funds it has previously collected from the Participants as a collection agent. Under current procedures payments are due and payable before the close of business twenty calendar days after each Restoration Fund Bill is issued, or the next business day thereafter, if said day is a Saturday, Sunday, or a Federal holiday. As specified in the Letter of Agreement, Western will transfer all Restoration Fund payments collected from the CVP Corp for deposit into the Restoration Fund.

4.4 Each Participant will continue to receive a Restoration Fund bill stamped "for information purposes."

4.5 Although the CVP Corp acts as a third party payment agent on behalf of the Participants, each Participant will remain ultimately responsible for payment of the monthly Restoration Fund bill. In the event that Western does not receive payment from CVP Corp, Western will send late notices to both the CVP Corp and the Participant. The Participant and the CVP Corp will immediately coordinate to determine the reason for the late payment, and then the CVP Corp will make the Exhibit A to CvP O:rp Merrtastl) ft{Jreement Page 2 of 5 Exhibit A to The Central Valley Project Corporation
Membership Agreement
appropriate payment to Western. If Western assesses late payment charges to the CVP Corp, those charges will be passed on to the Participant.

4.6 Restoration Fund payment obligations are incurred during the term of the Participants' electric service contracts with Western.

5. MONTHLY RESTORATION FUND CALCULATION

5.1 The PRPO varies significantly from one year to the next in a three-year cycle and can cause collections from the Power Contractors to range from $2 million to more than $25 million or more annually. In order to establish uniform payments for the Participant over a three-year cycle, the Participant agrees to make necessary payments to the CVP Corp.

5.2 The CVP Corp will coordinate with Reclamation and Western to estimate the total PRPO payments that will need to be made by the Power Contractors over the next three-year cycle. Each Participants' pro-rata share of the PRPO will then be determined by multiplying the total PRPO for the next three years by the percentage of the PRPO that will be allocated to the Participant over the next three years. The CVP Corp will get the Participant's percentage share of the PRPO from Western. The monthly payment the Participant will make to the CVP Corp will be computed by dividing the Participant's share of the three-year PRPO total by 36 (the number of months). This will be done annually on a three-year rolling basis.

5.3 Participant shall pay the CVP Corp the monthly payments as determined in 5.2.

The CVP Corp shall pay the actual amount billed by Western for collection. The difference between the amount collected and the actual payment will either be deposited by the CVP Corp into the funding account, if the amount collected is greater than the payment, or withdrawn from the account if the amount collected is less than the payment. The Participant's balance in the CVP Corp funding account, however, shall never be zero or negative. If the Participants balance approaches zero, the CVP Corp will notify the Participant and the Participant shall deposit sufficient funds in the account so that the Participants projected balance in the account will be positive in every month of the next three-year cycle.

5.4 An example of the procedure that will be used to levelize the Restoration payments over a three-year rolling basis is shown in Attachment A

5.5 The Participant's PRPO obligation can change because of midyear adjustments, yearly changes in the estimated PRPO, the Participant's share changing because of CVP power marketing actions, and other circumstances. Each year the Participant's Restoration obligation will be reviewed and the monthly payment to the CVP Corp will be adjusted as required. If the Participant's balance in the Exhibit A to CvP C,ap tvlenteship ,Agreerrent Page 3 of 5 Exhibit A to The Central Valley Project Corporation
Membership Agreement
funding account is projected to be negative or approaches zero, additional funds will need to be deposited by the Participant into the account. If the PRPO changes and this results in more funds in the account than are needed to meet the Participant's obligation, the Participant may coordinate with the CVP Corp and reduce the monthly payments into the account as long as its share is not projected to go below zero in any month of the three-year rolling period.

5.6 The Participant may deposit more funds into the CVP Corp than is calculated in Section 5.2 to accommodate PRPO changes that may occur because of the events listed in Section 5.5. Thus, when a change listed in Section 5.5 occurs the Participants additional funds on deposit will be available to accommodate the change.

5.7 At the end of the Federal Fiscal Year the CVP Corp will send the Participant an accounting of the funds deposited into the CVP Corp funding account for the Restoration payment, amounts withdrawn from the account, net earnings, and Participant's remaining account balance.

5.8 The CVP Corp is not obligated to make a PRPO payment to Western when the Participant's account reaches zero. It is the responsibility of the Participant to address the non-payment issue with Western.

6.0 Termination
Except as otherwise provided in the Agreement, either party may terminate this exhibit upon 120-advance notice to the other, provided all obligations will be preserved until satisfied.

Exhibit A to CVP Corp Membership Agreement Page 4 of 5
Exhibit A to The Central Valley Project Corporation
Membership Agreement
IN WITNESS WHEREOF, the parties hereto have executed this Exhibit A effective as of -----------

PROJECT CORPORATION
ATTEST:
/);4 MA &ffe ,¼Xw-4 C(
~~City Clerk
Exhibit A to CVP Corp Membership Agreement
APPltOWD AS TO FOAM
..__ ,..-z."{-o ",
fil!t::w !,:.,.,.

Attachment A
In this example the yearly PRPO amounts to be collected by Western are: Year 1 - $6 million, Year 2 - $18 million, and Year 3 - $13 million. The participant in this example is responsible for paying 5% of the PRPO assessed by Western.

Description Year 1 ____ Y __ e_a_r 2 _____ Y __ e_a_r __ 3 ___ T __ o ____ tal Total PRPO assessment $6M
Participant's annual PRPO $300K
Payment (5% of yearly
amount)
$18M
$900K
$13M $37M
$650K $1850K
Participants levelized .... $6aa...1;..a.7.a..;K;..__ _ ___.$=6...;..17'"""K...;...._ __ ___.$a....;a6...;..16~ _____ $1-'--'8'--"5-"'-0.a..aK share is $37M times 5%
divided by 3 for yearly
amount (divide by 36
for monthly amount)
End of Year Deposit
balance with CVP Corp
$317K $34K $OK
The next year's annual calculation will update year 2 and 3 estimates and include a projection for year 4. A new three-year levelized amount will be calculated for the Participant taking into consideration the amount in the end of year balance with the CVP Corp. The monthly payment the Participant will make to the CVP Corp will be computed by dividing the Participant's three-year total share of the PRPO by 36 (the number of months). The CVP Corp will pay the actual amount owed to Western and the difference will either be deposited into the funding account or withdrawn from the account. If mid­ year adjustments to the PRPO (or any other changes) occur, the projected levelized payment will need to be reviewed to ensure that the end of the month balance with the CVP Corp is always a positive during the three-year period.

PARTICIPANT EXHIBIT B
(Energy Exchange Arrangements for Project Use and First Preference Support)

1. This Participant Exhibit B, to be effective under and as part of the CVP Corporet,o!'"! Me!"!'"!bership Agreement (Agreement), shall become effective on De<.t.nootc lk , 200j, and shall remain in effect until either superseded by another Participant Exhibit B, terminated in accordance with Section 13 of this exhibit, or termination of either the CVP Corporation and Western contract 03-SNR-00583 or Exhibit B to that contract. I

2. The CVP Corporation has agreed to participate with Western in an energy exchange program to provide firm power to help meet the Project Use and First Preference Hourly Energy Deficit, and has executed an Exhibit B to accomplish the energy exchange. This Participant Exhibit B will complete the required arrangements necessary to make energy exchanges between Western and the CVP Corporation.

3. Western will receive Bank Energy from CVP Corporation when there is an Hourly Energy Deficit, and provide Bank Return Energy to the CVP Corporation during selected times when an Hourly Energy Deficit does not occur. Western will track the energy exchanges between Western and the CVP Corporation through an accounting system referred to as the Energy Exchange Bank.

4. The CVP Corporation will have in place by January 1, 2005, an account containing at least $4,537,000 that it will use to make purchases to meet the Bank Energy requests of Western. This amount may be increased to $5 million iffurther CDEC is provided pursuant to Section 11 .1 . The CVP Corporation understands that Western may enter into additional exchange arrangements with other entities to meet its responsibilities, including those for Project Use and First Preference Hourly Energy Deficit.

5. The CVP Corporation and the Exchange Participants wish to form an exchange arrangement by which the Exchange Participants will receive Bank Return Energy from Western, via the CVP Corporation, and each Exchange Participant will reimburse the CVP Corporation for the Bank Return Energy received under this exchange arrangement.

6. The CVP Corporation has established and will maintain an account called the Energy Exchange Revolving Account which will be utilized for the deposit of payments received from the Exchange Participants, to make payments for energy purchases, and to earn interest on the account balances.

7. The CVP Corporation will also establish an account called the Energy Valuation Account which will be used to track the Exchange Participant's percentage for scheduling transactions into and out of the CVP Corporation and each Exchange Participant's Bank Return Energy valuation.
1 8.
2 DEFINITION OF TERMS:

8.1 Bank Energy (BE): Amount of energy delivered by CVP Corporation to Western at the designated delivery point to meet the Hourly Energy Deficit.

8.2 Bank Return Energy (BRE): Energy to be delivered by Western to CVP Corporation at the designated delivery point to replenish the Energy Exchange Revolving Account.

8.3 Base Resource (BR): CVP and Washoe Project power output as determined by Western to be available for marketing, after (1) meeting the requirements of Project Use and First Preference Customers, and (2) any other adjustments required for maintenance, regulation, reserves, transformation losses, and ancillary services.

8.4 Base Resource Percentage: The percentage of the Base Resource generation that is allocated to a CVP power customer. This percentage will not be changed due to Base Resource exchanges that may occur as part of Exhibit B to the customer's Base Resource contract.

8.5 CDEC: CVP Corporation daily excess capacity energy (CDEC) made available by Western under its current program for marketing excess capacity in 2004.

8.6 CVP Corporation Administrator: Agent designated by the CVP Corporation to coordinate Bank Energy deliveries and Bank Return Energy deliveries with the Exchange Participants.

8.7 CVP Generation: Amount of power generated at CVP powerplants less station service usage.

8.8 Designated Suppliers (DS): One or more Exchange Participants that volunteer to provide Bank Energy to Western on behalf of the CVP Corporation, and have been approved to do so by the CVP Corporation Board.

8.9 Energy Exchange Bank (EEB): Accounting system maintained by Western which accounts for the value of all energy exchanged pursuant to Exhibit B between Western and CVP Corporation.

8.10 Energy Exchange Bank Balance: The value of the Energy Exchange Bank in dollars at any point in time.

8.11 Energy Exchange Revolving Account (RA): A financial account maintained by the CVP Corporation whose funds will be utilized to purchase energy to meet the Bank Energy requirements of Western, receive deposits from 'l ...,
the Exchange Participants, pay expenses and obligations related to the administration of the Participant Exhibit B, and accrue interest from investments.

8.12 Energy Valuation Account (VA): An accounting system maintained by the CVP Corporation to track each Exchange Participant's share of the valuation of energy on a weekly basis for the purpose of allocating Bank Energy and Bank Return Energy transactions.

8.13 Exchange Participant (EP): CVP Corporation member who executes a Participant Exhibit B.

8.14 Exhibit B: An exhibit of the CVP Corporation and Western contract 03- SNR-00583 that defines the terms and conditions of an energy exchange program to provide firm power to help meet the Project Use and First Preference Hourly Energy Deficit,

8.15 First Preference: Preference customer within a county of origin (Trinity, Calaveras, and Tuolumne) as specified under the Trinity River Division Act and the New Melones project provisions of the Flood Control Act of 1962.

8.16 Hourly Energy Deficit: When hourly scheduled CVP Generation plus Western purchases are not sufficient to meet the combined scheduled hourly energy needs of Project Use and First Preference customers.

8.17 Participant Exhibit B: The agreement between the CVP Corporation and an Exchange Participant that defines the terms and conditions for the Exchange Participant to (1) receive Bank Return Energy from Western, (2) provide funding to the CVP Corporation for the Bank Return Energy received, and (3) if agreed by the parties, become a Designated Supplier.

8.18 Project Use: Amount of power needed to deliver CVP water through CVP facilities.

8.19 Uncontrollable Forces: Any cause beyond the control of the CVP Corporation, including but not restricted to, failure of or threat offailure of facilities, flood, earthquake, storm, fire, lightning, epidemic, war, riot, civil disturbance or disobedience, labor dispute, labor or material shortage, sabotage, restraint by court order of public authority and action or non-action by, or failure to obtain the necessary authorizations or approvals from, any governmental agency or authority, which by exercise of due diligence the CVP Corporation could not reasonably have been expected to avoid and which by exercise of due diligence it shall be unable to overcome.

8.20. Voluntary Contribution: A voluntary cash advancement of funds that an Exchange Participant makes to the CVP Corporation to be added to the Energy

9. 10.
4 Exchange Revolving Account for use as the CVP Corporation determines pursuant to the terms and conditions of this Participant Exhibit B.

Project Use and First Preference Energy Needs:

9.1 There are periods of time when CVP Generation is insufficient to meet the Project Use and First Preference energy needs. This can occur on an hourly, daily, weekly, or longer basis and typically occurs during the fall and winter months. When CVP Generation is insufficient, Western is responsible for ensuring that energy is available to meet Project Use and First Preference power requirements. Base Resource is available under Western's 2004 Power Marketing Plan only after Western meets its obligations to Project Use and First Preference customer power. Western has determined that to meet its Project Use and First Preference obligations, Western must establish an Energy Exchange Bank account for CVP Corporation transactions.

9.2 Exhibit B of the Western and CVP Corporation contract requires the CVP Corporation to provide Western the necessary Bank Energy to meet Western's Project Use and First Preference needs, but only up to the point of the value in the Energy Exchange Revolving Account. The Exchange Participants may also be asked to provide Voluntary Contributions if additional funds are needed in the Energy Exchange Revolving Account. If Voluntary Contributions are made by the Exchange Participants to achieve a higher threshold, the new threshold level will be determined by the mutual agreement between Western and the CVP Corporation.

Energy Exchange Arrangement:

10.1 General Concepts:

10.1.1 Western shall maintain and administer an Energy Exchange Bank to track Bank Energy and Bank Return Energy values.

10.1.2 Monthly, Western will provide a statement of Energy Exchange Bank transactions, including an ending Energy Exchange Bank Balance to CVP Corporation. Any time that CVP Corporation provides Bank Energy to Western, the Energy Exchange Bank Balance will be reduced accordingly. Any time that Western provides Bank Return Energy to CVP Corporation, the Energy Exchange Bank Balance will be increased accordingly.

10.1.3 CVP Corporation will provide Bank Energy to Western, and Western will provide Bank Return Energy to CVP Corporation subject to scheduling protocols developed by Western and the CVP Corp. 5 10.1.4 Western and the CVP Corporation have agreed to use the Dow Jones daily average firm NP15 index prices for the Bank Energy and Bank Return Energy transactions under Exhibit B of the Western/CVP Corporation Contract. As an alternative in the event the Dow Jones NP15 index prices are no longer available, Western and the CVP Corporation have agreed to use the Inter-Continental Exchange (ICE) index prices.

Western and the CVP Corporation agree to provide as much notice as possible in the event of a change to the ICE index. Upon mutual agreement of Western and the CVP Corporation, an alternative index may be used if the need arises.

10.1.5 Western and CVP Corporation agree that the Energy Exchange Bank Balance will swing through the Federal Fiscal year (October 1 through September 30), but Western and the CVP Corporation will attempt by September 30 of each year to return the Energy Exchange Bank Balance to zero.

10.1.6 It is the intent of Western and the CVP Corporation that the Energy Exchange Bank Balance will be zero prior to the termination of the CVP Corporation and Western Exhibit B. If the Energy Exchange Bank Balance is not zero, Western and the CVP Corporation agree to the following:
1) If Western owes CVP Corporation energy (the Energy Exchange Bank Balance is negative), Western will schedule sufficient energy to CVP Corporation within one year of termination to bring the Energy Exchange Bank Balance to zero. After the Energy Exchange Bank Balance has been brought to zero the CVP Corporation will return to the Exchange Participants the remaining funds in the Energy Exchange Revolving Account, after meeting any outstanding expenses and obligations of the CVP Corporation related to the Participants Exhibit B, based on each of the Exchange Participants dollar total remaining in the Energy Exchange Revolving Account or
2) If CVP Corporation owes Western energy (the Energy Exchange Bank Balance is positive) CVP Corporation will pay Western the monetary value remaining in the Energy Exchange Bank within 30 days of termination to bring the Energy Exchange Bank Balance to zero, unless otherwise agreed. Any funds remaining in the Energy Exchange Revolving Account after this obligation has been met will be returned to the Exchange Participants as stated in 1) above.

10.2 Bank Energy Provisions:

10.2.1 Each month, Western will submit to CVP Corporation (1) monthly forecasts of available Base Resource energy, and (2) an estimate of Bank 6 Energy that will be required by Western. The procedures and timeline for submitting weekly and daily information between Western and the CVP Corporation is set forth in Attachment 2 to Exhibit B in the CVP Corporation and Western contract.

10.2.2 The Bank Energy that the CVP Corporation causes to be delivered to Western will be Western Electricity Coordinating Council (WECC) "Firm" energy, valued using the on-peak and off-peak firm NP15 index price for the day the energy is delivered. The on-peak index will be used for energy delivered during on-peak hours; the off-peak index will be used for energy delivered during off-peak hours. The applicable day's on­ peak or off-peak index price will be multiplied by the number of megawatts delivered each hour of the day. The calculated sum for all hours of the day, multiplied by an administrative adder of 1.05, will determine the dollar value of the Bank Energy supplied for that day and will be added to the amount owed by Western to the Energy Exchange Bank. Attachment 1 to Exhibit B of the CVP Corporation and Western contract provides an example of how the bank accounting process will work.

10.2.3 The CVP Corporation will provide to Western a certain number of megawatts for each respective hour of the active day, and will confirm these hourly amounts with Western. The CVP Corporation will cause to be delivered the requested Bank Energy to Western at Western's Tracy 230-kV substation (or as otherwise agreed) in accordance with the schedule received from Western. All ISO load-related costs, including ISO export costs associated with deliveries of Bank Energy from the ISO grid to the SMUD Control Area shall be borne by Western, excluding ISO congestion costs, which shall be borne by the Designated Supplier(s). All delivery costs from outside of California shall be borne by the Designated Supplier(s).

10.2.4 If the CVP Corporation and Western agree, Bank Energy can be delivered to a point other than on Western's transmission system.

10.2.5 The CVP Corporation Administrator will coordinate the arrangements for the delivery of energy to Western. The details of this coordination process are contained in Attachment A, Scheduling Protocols, and the associated timelines in Attachment B, Timelines for Scheduling. After Bank Energy is delivered, entities providing the energy will bill the CVP Corporation for that energy based upon the on-peak and off-peak firm NP15 index price for the day the energy is delivered. The on-peak index will be used to pay for the energy delivered during on-peak hours and the off-peak index will be used to pay for energy delivered during the off-peak hours. When a bill is received from the Designated Supplier, the CVP Corporation Administrator will verify the energy 7 deliveries and associated index value and then direct the CVP Corporation Treasurer to make the payments to each Designated Supplier.

10.2.6 If the CVP Corporation does not provide a schedule to supply the Bank Energy in accordance with Western's request, Western will acquire the required energy through other means. The CVP Corporation will reimburse Western for the actual acquisition and transmission costs, including applicable control area charges, to obtain the requested energy.

Western will submit a bill to the CVP Corporation and the CVP Corporation shall pay Western the amount due in accordance with the terms of Western's General Power Contract Provisions in effect at the time. If the non-delivery of Bank Energy was the fault of a Designated Supplier, the Western bill for non-delivery will be passed to the Designated Supplier for payment to the CVP Corporation. The defaulting Designated Supplier will receive a payment from the CVP Corporation for the energy value equal to its energy obligation scheduled, including the value for the quantity of energy that was not delivered at the applicable on-peak or off­ peak firm NP-15 price index. If the non-delivery of Bank Energy was due to an Uncontrollable Force, Western and CVP Corporation agree that to determine the value of the Bank Energy to be added to the amount owed by Western to the Energy Exchange Bank, Western and the CVP Corporation will value the Bank Energy that was scheduled, but unable to be delivered, based on the actual cost of the energy purchased by Western to keep the Bank Energy schedule whole. Actual cost will be used in place of using the firm NP15 index to value the energy. In the instance of an Uncontrollable Force, the CVP Corporation will not forward a bill to the Designated Suppliers.

10.2.7 When the CVP Corporation reimburses Western as set forth in Section 10.2.6, Western shall use the valuation process set forth in Sections 10.2.2 and 10.2.6 to determine the value of the Bank Energy to be added to the amount owed by Western in the Energy Exchange Bank.

10.3 Bank Return Energy Provisions:

10.3.1 Western will provide Bank Return Energy to the CVP Corporation during times when the CVP Generation exceeds Project Use and First Preference Energy needs. Each month Western will submit to the CVP Corporation an estimate of Bank Return Energy availability. The CVP Corporation will notify the Exchange Participants of the parameters in Section 10.3.2 by which they should estimate their Bank Return Energy forecasts. Since Bank Energy is energy received by Western on behalf of Project Use and First Preference customers. Western will schedule Bank Return Energy prior to scheduling Base Resource energy, provided the Bank Return Energy does not exceed 10 percent of the available Base Resource in any hour, unless otherwise agreed to by Western. 8 10.3.2 When Western makes Bank Return Energy available to the CVP Corporation, and if the CVP Corporation opts to receive such Bank Return Energy, then the Bank Return Energy must be 1) scheduled for at least 6 consecutive hours and 2) the maximum Bank Return Energy scheduled in any hour must not exceed one-sixth of the total quantity of the Bank Return Energy amount for the day (i.e. if the total Bank Return Energy provided for the day is 300 megawatt hours (MWH), then the maximum schedule in an hour can not exceed 50 MWH). Each Exchange Participant may independently select which six or more consecutive hours they wish to schedule the Bank Return Energy.

10.3.3 Western will provide CVP Corporation with monthly estimates of Bank Return Energy available. In addition to the monthly estimates, the procedures and timeline for submitting weekly and daily information between Western and the CVP Corporation is set forth in Attachment 2 to Exhibit B in the CVP Corporation and Western contract. In accordance with the timeline in Attachment 2, CVP Corporation will provide Western with an hourly amount of requested Bank Return Energy. Western will notify CVP Corporation whether or not it is able to meet the requested amount and then confirm an hourly schedule, in accordance with the timeline in Attachment 2. Western will deliver the Bank Return Energy to CVP Corporation at Western's Tracy 230-kV substation (or as otherwise agreed). All costs associated with deliveries of Bank Return Energy from Western's Tracy 230-kV Substation point of delivery (or alternate point of delivery as agreed by Western and the CVP Corporation) shall be borne by the CVP Corporation. If the Parties agree, Bank Return Energy can be delivered to a point other than on Western's transmission system.

10.3.4 The Bank Return Energy Western delivers to CVP Corporation will be WECC "Firm" energy, valued using the on-peak and off-peak NP15 index price for the day the energy is delivered. The on-peak index will be used for energy delivered during on-peak hours; the off-peak index will be used for energy delivered during off-peak hours. The applicable day's on­ peak or off-peak index price will be multiplied by the number of megawatts delivered each hour of the day. The calculated sum for all hours of the day will determine the dollar value of the Bank Return Energy supplied for that day and will be subtracted from the amount that Western owes in the Energy Exchange Bank. 1

10.3.5 The CVP Corporation will send a monthly invoice to each participant for the Bank Return Energy received. The rate per KWh will be based on the on-peak and off-peak firm NP15 price for the day the energy is delivered. To determine a daily amount owed to the CVP Corporation by an Exchange Participant, the applicable day's on-peak and/or off-peak index price will be multiplied by the number of megawatts delivered to the Exchange Participant each hour of the day and then multiplied by a factor of 0.95. The daily amounts will be summed to get a monthly total dollar amount for billing by the CVP Corporation.

11. Exchange Process:
9 11.1 Western provided excess capacity sales to the Exchange Participants starting on June 20, 2004 to seed the CVP Corporation with CDEC, and the money the CVP Corporation received from those sales was put into the Energy Exchange Revolving Account. That balance will be used by the CVP Corporation to pay for energy purchases to meet the scheduled firming requirements for Project Use and First Preference energy needs.

11.2 CVP Corporation Bank Accounts

11.2.1 The CVP Corporation will maintain two accounts; the Energy Exchange Revolving Account and the Energy Valuation Account. The Energy Exchange Revolving Account will be a monthly financial account to receive payments from the Exchange Participants, make payments for Bank Energy delivered, and accrue interest on deposits. The Energy Valuation Account will be an account kept by the CVP Corporation Administrator that will be updated hourly and summarized weekly to allocate Bank Energy and Bank Return Energy among the Exchange Participants .

11.2.2 The Energy Valuation Account will track the dollar value in the account for each Exchange Participant. The individual Exchange Participants will have their percentage shares in the Energy Valuation Account updated weekly, unlike the Energy Exchange Revolving Account, to track Exchange Participants deposits into and withdrawals from the account.

The weekly update will be done because the actual financial account numbers in the Energy Exchange Revolving Account will sometimes lag the current transactions that will be contained in the Energy Valuation Account

11.2.3 The purpose of the Energy Valuation Account is to track each Exchange Participant's percentage share of Bank Energy and Bank Return Energy. The valuation of each participants share will be updated on a weekly basis. Thus, the percentage share for each participant will be known and constant during each week's scheduling activities. Percentage shares in the Energy Valuation Account will be recalculated each Friday and will be applied to schedules for trade dates during the seven day period beginning the following Thursday. The Energy Valuation Account will only have energy valuations and will not include interest and expenses that the Energy Exchange Revolving Account will have.

11.2.4 The initial account balance for each Exchange Participant in the Energy Valuation Account will reflect the payment made to the CVP 10 Corporation for the amount billed for CDEC. This amount will be adjusted to account for subsequent energy transaction changes, Voluntary Contributions, and new or terminating Exchange Participants. When withdrawals are made from the Energy Exchange Revolving Account to pay for Bank Energy purchases for Western, the withdrawals will be recorded pro rata based upon each Exchange Participant's balance in the Energy Valuation Account compared to the total Exchange Participant balance.

When deposits are made to the Energy Exchange Revolving Account by the Exchange Participants for Bank Return Energy received, the deposits will record each payment made by the Exchange Participants, and the payment amounts will be reflected in the respective Exchange Participants' balances.

11.2.5 The Energy Exchange Revolving Account will be reconciled monthly with the Energy Valuation Account to link the financial account with the dollar valuation of each Exchange Participant's Bank Energy and Bank Return Energy transactions.
11 .3 Delivery of Bank Energy from CVP Corporation to Western

11.3.1 Western will request the Bank Energy from the CVP Corporation in accordance with Exhibit B of the Western and CVP Corporation contract.

The CVP Corporation will cause to be purchased Bank Energy using the dollars in the Energy Exchange Revolving Account to purchase the energy.

The CVP Corporation will coordinate the delivery schedule to Western. The CVP Corporation will pay the Designated Supplier(s) for Bank Energy delivered based upon the on-peak and off-peak firm NP15 index price for the day the energy is delivered, as discussed in Article 10.2.2 of this exhibit.

11.3.2 When the CVP Corporation Energy Exchange Revolving Account is used to make purchases, the CVP Corporation will reduce pro rata each Exchange Participants account balance as discussed in 11.2.4.

11.3.3 If the Energy Exchange Revolving Account balance goes to zero, this program will temporarily cease to be used to provide firming energy for Project Use and First Preference energy needs. When Bank Return Energy is provided to the CVP Corporation participants and payments are received in the Energy Exchange Revolving Account, the program will be used again for Bank Energy requirements.

11.4 Bank Return Energy from Western

11.4.1 After Western notifies the CVP Corporation of the time frames that CVP energy is available for return, the CVP Corporation will notify the Exchange Participants of the time frame for availability, the total amount of Bank Return Energy each is entitled to schedule, and the maximum hourly amount that may be scheduled.
11 11.4.2 When Bank Return Energy is made available to the CVP Corporation, the CVP Corporation will allocate that availability among the Exchange Participants based upon the Base Resource percentage of each Exchange Participant normalized to 100 percent of those participating in this Participant Exhibit B. Each Exchange Participant will determine, within the time frame provided by Western, the days and hours when they will schedule the Bank Return Energy. They will then coordinate the schedule to the CVP Corporation and include their Bank Return Energy schedule with the Base Resource schedule they provide to Western. The CVP Corporation will then bill the Exchange Participants as discussed in Article10.3.5 .

11.4.3 There will be two different time periods and thus two different procedures for scheduling Bank Return Energy.

11.4.3.1 From September 1 to March 31 of each year the Bank Return Energy can be scheduled by an Exchange Participant utilizing the procedures outlined in Section 10.3 on an as available basis.

Each Exchange Participant will be allowed to schedule up to its normalized Base Resource Percentage of the Bank Return Energy available on a daily basis.

11.4.3.2 From April 1 to August 31 of each year a value reservation system will be used in order to give each Exchange Participant an opportunity to schedule their Bank Return Energy value in a manner that best meets their needs. The value of the Bank Return Energy in the Energy Valuation Account as of April 1 of each year will be allocated to each Exchange Participant based upon the Base Resource Percentage of each participant normalized to 100 percent.

That value is then reserved for the Exchange Participant for scheduling within the April 1 to August 31 reservation period in compliance with the procedures outlined in Section 10.3. Within the reservation period each Exchange Participant can schedule up to their allocated amount of Bank Return Energy until their dollar value of Bank Return Energy allocated to them in their Energy Valuation Account is reduced to zero. An example of this process is shown in Attachment C.

11.4.4 The Energy Valuation Account will be used to track each Exchange Participants Bank Return Energy value. If any Exchange Participant has value in the Energy Valuation Account during the April 1 to August 31 value reservation period, new CVP Corporation participants will not be allowed to join this Participant Exhibit B. New participants can join this Participant Exhibit B during the period from September 1 through March 31 and can also join from April 1 to August 31 if all of the existing Exchange Participants have a zero Bank Return Energy value in the Energy Valuation Account.

11.4.5 For the hourly scheduling of Bank Return Energy under either Section 11.4.3.1 or Section 11.4.3.2 time period, the CVP Corporation will allocate the Bank Return Energy limits provided by Western to each Exchange Participant based upon the Base Resource Percentage normalized to 100 percent. For example, Participant A has a Base Resource Percentage of 20 percent and Participant B has a Base Resource Percentage of 30 percent. The percentages normalized to 100 percent are 40 percent and 60 percent respectively. If Western states that the maximum limit for Bank Return Energy scheduling is 50 MWh, Participant A can schedule up to 20 MWh (40% times 50 MWh) and Participant B can schedule up to 30 MWh (60% times 50 MWh). Each Exchange Participant can schedule up to their allocated amount as long as they comply with the provisions of Article 10.3.2.

11.4.6 It is the responsibility of each Exchange Participant to schedule the Bank Return Energy reserved pursuant to Section 11.4.3.2 by August 31 of each year. If the Exchange Participant does not want to schedule any or all of its Bank Return Energy reserved pursuant to Section 11.4.3.2, the Exchange Participant will notify the CVP Corporation Administrator of its intent to not schedule Bank Return Energy. The CVP Corporation Administrator will then notify the other Exchange Participants of the availability of Bank Return Energy from that Exchange Participant. The remaining Exchange Participants may then schedule that energy value. If more than one Exchange Participant wants to schedule the energy value, it will be prorated amongst the interested parties based upon their Base Resource percentage normalized to 100 percent. If none of the other Exchange Participants want to schedule the Bank Return Energy by September 30, the Exchange Participant who did not schedule its reserved Bank Return Energy value is still obligated to pay that value to the CVP Corporation for deposit into the Energy Exchange Revolving Account.

12. Administration:
12 12.1 NCPA will initially be the CVP Corporation Administrator to coordinate the Bank Energy purchases and the Bank Return Energy with Western. The CVP Corporation Administrator will coordinate the schedules of the Exchange Participants with Western and will also maintain the accounts. NCPA will also act on behalf of its members who assign their CVP Base Resource percentage to NCPA, thus representing those assignments who are participating in this agreement.

12.2 The interest that accrues in the Energy Exchange Revolving Account will be pro rata allocated to each Exchange Participant based on the dollar value that each Exchange Participant has in the Energy Valuation Account. The CVP Corporation board, however, may utilize an appropriate amount of the interest that accrues in the Energy Exchange Revolving Account to offset the administrative and overhead expenses of this program. If such administrative and overhead expenses are greater than the accrued interest earnings, the CVP Corporation Board of Directors may authorize the collection of monthly or annual fees to be paid by the Exchange Participants.

12.3 It is recognized that the CVP Corporation will have full use of the funds in the Energy Exchange Revolving Account; however, such use of funds will be limited to the energy exchange arrangements made pursuant to Exhibit B of the Western-CVP Corporation Contract and this Participant Exhibit B. Funds in the Energy Exchange Revolving Account will only be invested in US Treasury or US Agency securities or money market funds that invest only in such securities. The CVP Corporation is required to have in place by January 1, 2005 all the arrangements necessary to carry out the energy exchange program established pursuant to Exhibit B of the Western-CVP Corporation Contract and this Participant Exhibit B.

12.4 The CVP Corporation will provide the Exchange Participants a monthly report on the CVP Corporation Energy Exchange Revolving Account along with each Exchange Participants share of the balance. The CVP Corporation will also provide a copy of the monthly reports that Western provides to the CVP Corporation, including a statement of the Energy Exchange Bank transactions and the ending Energy Exchange Bank balance, if there is a discrepancy between the CVP Corporation reports and that of an Exchange Participant, the parties will meet to reconcile the numbers.

12.5 Any Exchange Participant may audit the accounting of this exchange program at the Exchange Participant's own expense.

13. Termination:
13 13.1 The term of this Participant Exhibit B shall be coincident with the term of Contract 03-SNR-00583 or until Exhibit B of that contract is terminated. Either party may terminate this Participant Exhibit B upon 120 days advance written notice to the other, provided all obligations will be preserved until satisfied. An Exchange Participant will not be allowed to terminate this Participant Exhibit B, however, until their entire Bank Return Energy has been returned and they have paid the CVP Corporation for the value of the Bank Return Energy.

13.2 If an Exchange Participant terminates this Participant Exhibit B with the CVP Corporation, its share of the funds held in the Energy Exchange Revolving Fund as a result of the initial CDEC seeding program will not be returned to the Exchange Participant, including any interest on such funds, but will remain in. the Energy Exchange Revolving Fund until Exhibit B between the CVP Corporation 14 and Western is terminated. If there is still money in the CVP Corporation Energy Exchange Revolving Account for CDEC when Exhibit B between the CVP Corporation and Western is terminated, the Exchange Participant will be refunded its share of the remaining dollars.

13.3 When Exhibit B between the CVP Corporation and Western is terminated, the share of the funds remaining in the Energy Exchange Revolving Fund will be returned after the requirements in 10.1.6 of this exhibit are satisfied. The Exchange Participant will be refunded the total of all Voluntary Contributions that were made by the terminating Exchange Participant to the CVP Corporation Bank Account, by no later than the one-year anniversary of the terminating Exchange Participant's written notice. The returned Voluntary Contributions will be paid interest earned at the average rate of the CVP Corporation Energy Exchange Revolving Account starting from 120 days after the termination notice until the funds are returned. No funds will be return to the Exchange Participant for payments made by the Exchange Participant to the CVP Corporation for Bank Energy received or any energy received during the seeding phase under this Participant's Exhibit B, except at the time of the termination of the Western-CVP Corp Contract and/or Exhibit B to the Western-CVP Corp Contract, per Section

10.1.6 of this Participant's Exhibit B.

EXCHANGE PARTICIPANT

CITY OF SANTA CLARA
Address: 1500 Warburton Avenue __ ........,. ______ ..........,_ .......... ~---- Santa Clara, CA 95050

CENTRAL VALLEY PROJECT CORPORATION
~:e_: ___ C_h_a~2~m~·~~n~L~tf,--+=d---=------
-----'------------
Address:_---:.1.;.8~0..::C~ir-=b:..x.Y...:.W~a=-v;:;__ _____ _ Roseville Ca 95678

ATTACHMENT A

EXCHANGE PARTICIPANT SCHEDULING PROTOCOLS

1. PURPOSE
The purpose of these protocols is to provide the CVP Corporation Exchange Participant (EP) with written instructions to follow so that the CVP Corporation Administrator (CCA) can arrange for Bank Energy and Bank Return Energy to be scheduled with Western to satisfy all the requirements under the Participant Exhibit B.

2. RESPONSIBILITY

2.1 The CCA will follow all provisions of the Participant Exhibit B. The CCA will coordinate all schedules with the EP. The CCA will notify the EP of all Bank Return Energy that Western will provide to CVP Corporation and all Bank Energy requested by Western from CVP Corporation for delivery to Western following the timelines in Attachment B. The CCA, in addition to Westerns postings, will provide the EP with all of the Western forecasts and reports pertaining to Bank Energy Accounts.

2.2 Each quarter the CCA will post those EP that will be Designated Suppliers (DS) of Bank Energy. A list of all DS will be made available to all EP. The DS shall follow the timelines in Attachment A to provide Bank Energy when it is requested by the CCA.

2.3 The DS will be allocated a percentage share of all Bank Energy, both in the CAISO & SMUD Control (SCA) areas, as requested by the CCA each quarter pursuant to Section 2.1. The CCA will update the quarterly posting to add to the list additional DS and change the percentage allocation assigned to each DS as needed. The initial list of DS will include SMUD, NCPA, SVP and Redding. Those EP that elect to become a DS shall give notice to the CCA and be approved by the CVP Corporation Board. The CVP Corporation Board will establish the normalized percentages for each DS based on each DS Base Resource Percentage.

Example: If SMUD, NCPA, SVP & Redding were DS the normalized percentage of the Base Resource would be used. SMUD=44.6%, NCPA=30.3%, SVP=13.0% and Redding = 12 .1 % (includes Shasta assignment). If another DS were to be added to the list or other assignments made, then the percentages would be adjusted.

2.4 The DS may coordinate amongst themselves and change the allocations to 15 achieve maximum efficiency as long as the Bank Energy request is met. The original DS, however, will be responsible for the delivery of its share of Bank Energy to Western.

3. PROCEDURE

3.1 Bank Energy

3.1.1 Western will provide CCA with the requested Bank Energy per hour in accordance with Section 10.2 of Participant Exhibit B. The CCA will allocate to each DS its share of the Bank Energy schedule request received from Western in accordance with Section 2.3 of this Attachment.

3.1.2 Each DS will provide the CCA all data on how it plans to meet its share of the energy required for the scheduling period being scheduled or other arrangements they have agreed to with the CCA and other DS. These other arrangements may include one or more of the DS scheduling all of the Bank Energy with Western. All data provided by the DS will follow the timelines listed in Attachment B.

3.1.3 When Bank Energy is scheduled to Western by the DS, the DS share of the requested energy schedules will contain the same percentage share for each of the hours Western requested. Any deviation from the same percentage for each requested hour will be as mutually agreed to between the DS and the CCA.

3.1.4 The CCA will manage both the Energy Valuation Account (VA) and the Energy Exchange Revolving Account (RA) for the EP. Each EP will have a percentage share of the VA and a dollar amount associated with the RA. When Bank Energy is delivered to Western, the CCA will expend money from the RA to pay the DS for providing the Bank Energy pursuant to Section 10.2.5 of the Participant Exhibit B.

3.2 Bank Return Energy

3.2.1 Western will provide CCA with the availability for Bank Return Energy in accordance with Section 10.3 of the Participant Exhibit B. The CCA will post this information to the EP exactly as it was received from Western and provide each EP with its share of the Bank Return Energy that it can schedule. Of the total capacity and energy that Western will allow to be scheduled, each EP may schedule up to their share of the total each day. Each EP's share will be determined by multiplying the total made available by Western by the EP Base Resource percentage normalized to 100%. Each EP may not schedule more than one-sixth of its energy share in any one hour of the day.

3.2.2 When the EP schedules Bank Return Energy, the CCA will invoice them pursuant to Section 10.3.5 of the Participant Exhibit B. 16 4. ACCOUNTING
Bank Energy and Bank Return Energy will be accounted for as set forth in Section 11.2 of the Participant Exhibit B agreement.

5. COMMUNICATION

5.1 Western and CVP Corporation: Western will notify the CCA when Bank Energy is required or Bank Return Energy is available. Western will provide the Bank Energy request or Bank Return Energy availability information electronically to the CCA. The CCA will provide this information to the EP and/or DS depending on the type of energy being scheduled . This information will be updated as needed prior to the delivery date.

The CCA will communicate with Western, the EP and/or DS schedules for delivery of Bank Energy or Bank Return Energy for the day requested according to the timelines in Attachment B.

5.2 CVP Corporation and the DS: The CCA will notify all DS of the Bank Energy obligation. If all DS have not communicated their availability to supply Bank Energy or their schedules of Bank Energy to the CCA on time, (according to the timelines in Attachment 8), the CCA will call the DS to verify their schedules.

5.3 CVP Corporation and EP: The CCA will provide the EP's all necessary data for their schedules that are used for Bank Return Energy availability as forecasted by Western per timelines in Attachment B by electronic means.

6. SCHEDULING

6.1 BANK ENERGY

6.1.1 Following the guidelines in Section 3.1 and pursuant to Attachment B, the CCA will request the DS to schedule the Bank Energy directly with Western, based on the DS allocation percentage. If the DS schedules less than its share of Bank Energy, the CCA will coordinate with the DS to determine if an error was made.

6.1 .2 If the DS cannot meet its allocation of Bank Energy, the DS shall coordinate with the other DS to have one of them meet all or part of its allocation amount. If there is a failure to deliver regarding the Bank Energy request, the DS who did not meet its allocation amount will have all costs associated with such failure billed to them. Even if the original DS has another DS supply all or part of the Bank Energy for it, the CVP Corporation will still hold the original DS responsible if the requested Bank Energy is not delivered.

6.2 BANK RETURN ENERGY
17 6.2.1 Western will provide the CCA with monthly estimates of Bank Return Energy availability for the EP to schedule pursuant to Section 3.2 and Attachment B. The CCA will distribute that information to the EP for its planning purposes.

6.2.2 On a daily basis Western will provide the total amount of Bank Return Energy that can be scheduled pursuant to the timelines provided in Attachment B. The CCA will allocate that daily amount to each EP, in accordance with each EP Base Resource Percentage normalized to 100 percent, to determine the amount each EP can schedule.

6.2.3 On a daily basis each EP can elect to schedule up to its daily allocated amount.

The CCA will coordinate with each EP their request for Bank Return Energy.

6.2.4 Each EP that is scheduling its Bank Return Energy allocation will directly schedule with Western for delivery in accordance with the timelines in Attachment B.

7. REPORTS

7.1 In addition to the monthly estimates, Western will provide a statement of Energy Exchange Bank transactions, including an ending Energy Exchange Bank Balance to CVP Corporation.

7.2 The CCA will distribute Western's monthly report to each EP after it is received. In addition, the CCA will distribute weekly to each EP the value they have in the VA and the amount and value of Bank Return Energy that was scheduled by each of them. 18 ATTACHMENT B - Revision 1

TIMELINES FOR SCHEDULING

1. GENERAL CONCEPTS:

1.1 This Attachment B - Revision 1, to be effective under and as a part of Participant Exhibit B, shall replace the original Attachment B and shall remain in effect until superseded by another Attachment B or termination of Participant Exhibit B.

1.2 The CVP Corporation and the Exchange Participant will make best efforts to meet these timelines and protocols; Provided, That in the event of a conflict, the timelines as set forth in this Attachment 2 shall prevail. In the event the timelines and/or protocols require modification from time-to-time due to changing industry standards, Western and the CVP Corporation shall make the appropriate modifications to their timeline agreement and this Attachment 2 will be modified to reflect those changes.

1.3 CCA and Western will utilize the WECC scheduling calendar. Under WECC protocols, 7 days of transmission are scheduled in 5 days (Monday through Friday).

Under this protocol,
Monday is the "Day Ahead" or "Scheduling Day'' for Tuesday, the "Active Day," Tuesday is the "Day Ahead" or "Scheduling Day" for Wednesday, the "Active Day," Wednesday is the "Day Ahead" or "Scheduling Day" for Thursday, the "Active Day," Thursday is the "Day Ahead" or "Scheduling Day" for "Active Days" Friday and Saturday,
Friday is the "Day Ahead" or "Scheduling Day" for "Active Days" Sunday and Monday.

The protocol is modified for weeks that contain holidays or specially designated WECC non-scheduling days.
2 • SCHEDULING BANK ENERGY TO WESTERN:

2.1 By 1600 hours, two days prior to the Scheduling Day, Western will advise CCA of its anticipated need for energy in the CAISO and/or SCA control areas to cover Project Use (PU) and First Preference (FP) customers for the applicable Active Days. The requirement will be provided electronically between Western and the CCA.

2.2 By 1605, two days prior to the Scheduling Day, the CCA will notify the OS electronically, of the request from Western for Bank Energy deliveries based on set percentages.
1 2.3 By 1200 hours, one day prior to the Scheduling Day, the OS will notify the CCA electronically of the amount of Bank Energy to be delivered and the delivery point.

2.4 By 1300 hours, one day prior to the Scheduling Day, CCA will confirm the required Bank Energy schedules to be provided and will provide Western by phone the energy amounts and delivery points for each OS.

2.5 By 0730 hours, of the Scheduling Day, each OS will notify the CCA of its schedule for Bank Energy to Western. If a OS anticipates a failure to schedule its obligation with Western, the OS will notify the other OS of the deficiency so they can schedule the energy to Western. The OS failing to schedule Bank Energy shall notify the CCA of arrangements made with other OS to meet its obligation to schedule Bank Energy to Western.

2.6 By 0730 hours, of the Scheduling Day, each OS will provide its Bank Energy final schedule information to Western electronically.

3. SCHEDULING BANK RETURN ENERGY FROM WESTERN:

3.1 By 1700 hours, three days prior to the Scheduling Day, Western will advise the CCA by electronic means of the amount of Bank Return Energy available to be scheduled by the EP.

3.2 By 0900 hours, two days prior to the Scheduling Day, the CCA will allocate the scheduling amounts available to each EP and transmit that information electronically.

3.3 By 1100 hours, two days prior to the Scheduling Day, each EP will provide its Bank Return Energy schedule to the CCA. The CCA will validate electronically all Bank Return Energy amounts.

3.4 By 1115 hours, two days prior to the Scheduling Day, the CCA will notify each EP by phone of receipt of its schedule and any validation problems with Bank Return Energy amounts.

3.5 By 1130 hours, two days prior to Scheduling Day, the EP will make necessary adjustments to its Bank Return Energy amounts to be scheduled and notify the CCA electronically.

3.6 By 1200 hours, two days prior to the Scheduling Day, the CCA will notify Western electronically of each EP's final Bank Return Energy schedule.

3.7 By 0100 hours, of the Scheduling Day, Western will provide the CCA the detailed scheduling information needed for the Bank Return Energy to be scheduled from Western to the EP.
2 3.8 By 0600 hours, of the Scheduling Day, the CCA will provide final Bank Return Energy schedules to each EP.

3.9 By 0800 hours, of the Scheduling Day, each EP will provide Bank Return Energy schedules to Western at the time of providing its Base Resource schedules.

4. FORECASTS:

In addition to the monthly estimates, the procedures and Timelines for submitting weekly and daily information between the Western and the CVP Corporation is set forth in Attachment B.
3 5. TIMELINE:

NCPA/WAPA/CVP Corporation/Participant Communication
Timeline
(E) means electronic
(P) means by phone
(F) means by ftp or email
W-N means WAPA to NCPA
N-W means NCPA to WAPA
N-P means NCPA to CVP Corporation Participants
P-N means CVP Corporation Participants to NCPA
P-W means CVP Corporation Participants to WAPA
N-1 means NCPA to ISC)
S means the Scheduling Day per the WECC Scheduling Calendar A-3 means 3 days prior to the active day
BRE means CVP Corporation arrangement of bank return energy from Western CBE means CVP Corporation arrangement of bank energy to Western In the below, S refers to the Scheduling Day. So, Thursday is the scheduling day for Fri and Sat, Friday is the scheduling day for Sun and Mon.

S-3 17:00 BRE
S-2 9:00 BRE
S-2 11:00 BRE
S-2 11:15BRE
S-2 11:30 BRE
S-2 12:00 BRE
s 1:00 BRE
s 6:00 BRE
s 8:00 BRE
s 15:00 BRE
S-2 16:00 CBE
S-2 16:05 CBE
S-1 12:00 CBE
S-1 13:00 CBE
s 7.30 CBE
1 (E)W-N
(E) N-P
(E) P-N
(P) N-P
(E) P-N
(E) N-W
(P or F) W-N
(E) N-P
(E) P-W
(P) P-W
(E) W-N
(E) N-P
(E) P-N
(P) N-W
(E) P-N
Amount of bank return energy available, probably published on the Web or by email Available bank return energy to each participant
Each participant provides bank return energy schedule to CCA - CCA validates load shapes Notification of any validation problems to participants Resubmission of bank return energy schedule, if necessary Final bank return energy schedules, by participant & delivery point Detailed scheduling information, such as split between SC trades and imports, any necessary scheduling and tagging information
Final bank return energy schedule to each participant
Detailed scheduling information, such as split between SC trades and imports, any necessary scheduling and tagging information
E-tagging information for Western creation of tags for bank return energy CVP Corporation bank energy requirements in ISO and SCA areas Notify designated suppliers of required bank energy deliveries based on set percentages Designated suppliers notification on delivery of bank energy- MWh data in ISO and SCA areas Confirm intent to deliver CVP Corporation bank energy
Designated suppliers bank energy schedules, any expected failure to deliver and arrangements for alternate delivery
S 7:30 CBE (E) N-W CVP Corporation bank energy schedules by participant by delivery point (Participants have then 2 hours for schedules with ISO)
15:00 CBE (P) W-P E-Tagging information to participants for bank energy Note: The 15:00 timeframe for providing E-tagging information is the latest possible time. E-Tagging information will be provided in a timely manner between the parties. 2 6. ENERGY UNITS:

All energy will be scheduled in whole megawatts.

7. E-TAGGING:

E-Tagging information will be exchanged in a timely manner between the CCA, EP and Western to facilitate scheduling .
3 ATTACHMENT C
(BANK RETURN ENERGY Example)
There will be two different scheduling procedures for Bank Return Energy depending upon the time of the year. The open scheduling period for Bank Return Energy is from September 1 through March 31 and is based upon an Exchange Participant's (EP) Base Resource (BR) percentage normalized to 100%. The second scheduling period will be a reservation period from April 1 though August 31 and each EP's share, also based on an EP's BR percentage normalized to 100%, of the April 1 Bank Return Energy (BRE) value will be reserved for its exclusive scheduling during this period.

For this example, assume that the CVP Corporation has four participants, each having a normalized Base Resource percentage of 10%, 25%, 15%, and 50% respectively, and that $1 million of Bank Energy was delivered to Western. The value of Bank Return Energy to be returned to the CVP Corporation is therefore $1.05 million ($1 million X

1.05). Therefore, the amount recorded in Energy Exchange Bank (EEB) as maintained by Western is $1,050,000 as a negative value (that is, the amount owed to the CVP Corporation). Furthermore, assume that Western does not request any Bank Energy (BE) during both periods provided in this example.

For Period September 1 through March 31 :

During the September 1 though March 31 period, Western declares that Bank Return Energy is available for 10 days (not necessarily consecutive days) during this period and each day the value of the BRE offered is $40,000. An EP may take up to its BR percentage normalized to 100 percent of the BRE value offered each day. Assume that one participant schedules its share every day, while the other participants take some on various days. After the completion of the 10 days that BRE was offered, each EP has taken a value of BRE as shown in the table below. The total value of BRE taken during this period equals $180,000. The remaining value of BRE would be $870,000 ($1,050,000-$180,000). The CVP Corporation would have been paid $171,000 ($180,000 minus 5%) by these EPs for the BRE received during this first period.

TABLE For Period September 1
through March 31
Normalized BR%
BRE Available
Day 1
Day2
Day3
Day4
Days
Day6
Day?
Day8
Day9
Day 10
Total BRE value
offered
BRE value taken
this period
Value of
BRE
Available
$40,000
$40,000
$40,000
$40,000
$40,000
$40,000
$40,000
$40,000
$40,000
$40,000
$400,000
Participant Participant Participant Participant

A B C D

10.00% 25.00% 15.00% 50.00%
$4,000 $10,000
$10,000 $6,000
$10,000 $20,000
$4,000 $10,000 $6,000
$10,000
$10,000
$4,000 $10,000
$10,000 $6,000 $20,000
$10,000 $6,000
$4,000 $10,000
$16,000 $100,000 $24,000 $40,000
Totals
100.00%
$14,000
$16,000
$30,000
$20,000
$10,000
$10,000
$14,000
$36,000
$16,000
$14,000
$180,000
EP pays CVP Corp $15,200 $95,000 $22,800 $38,000 $171,000 Summary For Period September 1 through March 31
Initial EEB value $1,050,000
BRE value taken this period $180,000
BRE value added (Western requests BE) $0
EEB value remaining $870,000
Funds contributed to CVP Corp $171,000
For Period April 1 through August 31 :

During the April 1 though August 31 period, the remaining value of BRE, which is to be offered and taken on a reservation basis, has an initial value of $870,000. This will be allocated to the EPs based upon their BR percentage normalized to 100 percent and each EP may use it individually to meet its requirements as set forth in Section 11.4.3.2.

During the April 1 though August 31 period each EP may only use the dollar value that is allocated to it on April 1, and they may use it anytime during this period when Western has BRE available. If Western did not have any BRE remaining before the end of the April 1 though August 31 period, this would indicate that all EPs would have already used their allocated shares of the BRE value. The value of BRE taken during the April 1 though August 31 period by each EP is shown in the table below, and the total value of BRE taken is $755,000. An EP that has not taken all its reservation value of BRE by the end of the April 1 though August 31 period is still obligated to pay the CVP Corporation the full reservation value of BRE minus 5% by the end of that period.

In this example, Participant D is still obligated to pay the CVP Corporation an amount of $109,250 ($115,000 minus 5%) after having taken some, but not all, of the BRE that was reserved for it by Western on behalf of the CVP Corporation. Once Participant D makes this final obligation payment, the CVP Corporation would have received the full revenue requirement of $826,500 ($870,000 minus 5%) for this latter period from all EPs together. If Western requires additional Bank Energy during this period, that value will be added to the Bank Return Energy that is allocated to each Exchange Participant.

TABLE For Period April 1 through August 31
Normalized BR%
BRE value offered
Value Reserved for each EP
Usage of BRE
April
May
June
July
August
BRE value taken this period
Value of BRE reserved but not taken
(EP still obligated to pay CVP Corp)
Participant Participant Participant Participant
A B C D Totals

10.00% 25.00% 15.00% 50.00% 100.00%
$870,000
$87,000 $217,500 $130,500 $435,000 $870,000
$50,000 $50,000
$150,000 $6,000 $156,000
$50,000 $17,500 $100,000 $167,500
$37,000 $120,000 $157,000
$124,500 $100,000 $224,500
$87,000 $217,500 $130,500 $320,000 $755,000
$0 $0 $0 $115,000 $115,000
EP Pays CVP Corp $82,650 $206,625 $123,975 $413,250 $826,500 Summary For Period April 1 through August 31
Initial EEB value
BRE value reserved this period
BRE value added (Western requests BE)
EEB value remaining
Funds contributed to CVP Corp
$870,000
$870,000
$0
$0
$826,500
The CVP Corporation would have received the full revenue requirement of $997,500 ($1,050,000 minus 5%) for both periods, as shown below.

Summary For Both Periods Together (One Year)
Initial EEB value
BRE value taken in September to March
BRE value taken/reserved in April to August
EEB value remaining
Total Paid to CVP Corp for both periods ($1,050,000 X .95) $1,050,000
$180,000
$870,000
$0
$997,500
The difference of $2,500 ($1 M minus $997,500) is due to the mathematical fact that

1.05 times a quantity that is then multiplied by 0.95 does not exactly equal 1.00.

PARTICIPANT EXHIBIT C

CONTRACT FOR DISPLACEMENT OF BASE RESOURCE

1. This Participant Exhibit C to be effective under, and as part of, the CVP Corporation Membership Agreement (Agreement), shall become effective onl_~\\/l ___ {p~ ·' 2001 and shall remain in effect until either superseded by another Participant Exhibit C, terminated in accordance with Section 4 of this exhibit, or termination of Contract 09- SNR-01256 (Displacement Contract).

2. The purpose of the Displacement Program is to preserve the value and benefit of the First Preference Power (FPP) and Base Resource (BR) allocations, create efficiencies amongst Central Valley Project (CVP) customers, and minimize delivery costs among the Non-Direct Connect Customers (NDCC) and the Direct Connect Customers (DCC).

The CVP Corporation (CVP Corp) has agreed to be the Displacement Program Administrator of a base resource displacement program as more fully described in the Displacement Contract between DCCs, NDCCs and the Western Area Power Administration (Western). This Participant Exhibit C will establish the obligation of NDCCs and DCCs to pay for the costs of the program incurred by CVP Corp in performing its administrative responsibilities.

3. Explanatory Recitals:

3.1 Consistent with Western's 2004 Power Marketing Plan, Western provides FPP to First Preference Customers under a full requirements contract and provides a percentage of the Base Resource (BR) to CVP customers under a BR contract. FPP and BR customers that are not directly connected to Western's transmission system shall be referred to as NDCCs. FPP and BR customers that are directly connected to Western's transmission system shall be referred to as DCCs.

3.2. The Federal Energy Regulatory Commission (FERC) conditionally approved the California Independent System Operator's (CAISO) proposed Integrated Balancing Authority Area (IBM) proposal on September 19, 2008. The CAISO implemented the IBM proposal simultaneously with the start-up of its Market Redesign and Technology Upgrade (MRTU).

3.3. Under IBM, imports from the Sacramento Municipal Utility District (SMUD)/Western and Turlock Irrigation District (TIO) BAs into the CAISO BA are priced differently than exports from the CAISO BA into the SMUD/Western and TIO BAs and therefore implementation of IBM could result in adverse financial impacts to both the NDCCs and the DCCs. The NDCCs and DCCs believe that the CAISO's MRTU pricing proposal may expose them to increased financial exposure, unreasonable congestion and loss charges, and unpredictable pricing outcomes. The NDCCs and DCCs further believe the IBM pricing proposal may have the effect of causing sales to the CAISO from the SMUD/Western and TIO BAs to be uneconomic in certain circumstances to the ultimate detriment of the NDCC and DCC ratepayers.

3.4. The loads that the NDCCs are serving with power received under their FPP and BR contracts incur charges from the CAISO for imports from the SMUD/Western and TID BAs.

3.5. At times the DCCs export resources out of the CAISO BA into the SMUD/Western and TID BAs, resulting in DCCs incurring charges from the CAISO.

3.6 The NDCCs and the DCCs seek to create a Displacement Program under which the NDCCs FPP or BR can be scheduled to the DCCs in the SMUD/Western and TID BAs, and the DCCs in turn can schedule an equal amount of energy in quality, quantity, and timing to the NDCCs from resources scheduled from or through the CAISO BA

3.7. In consideration of the CAISO's IBM program, Western is offering the Displacement Program as a means to continue to fulfill the intent of the 2004 Power Marketing Plan.

3.8. Western is willing to facilitate a Displacement Program of FPP and BR with the NDCCs and the DCCs.

3.9 Although the Western Displacement Contract documents the terms and conditions for a Displacement Program for FPP and BR, it does not preclude the future inclusion of Project Use Energy (PUE) under the Displacement Program when Western and the Bureau of Reclamation have deemed it appropriate for PUE to be included. The terms and conditions for the inclusion of PUE would be determined at that time.

3.10 The Displacement Program principles, scheduling and settlement processes to be used in the Displacement Program are delineated in the Displacement Contract.

3.11 This exhibit establishes the repayment mechanisms necessary to pay for the services required to enable the Displacement Program. The CVP Corp will have a contract with the Displacement Scheduling Aggregator who will be responsible for scheduling the displaced BR energy between DCCs and NDCCs on an hourly basis, calculating the savings statements, and preparing corresponding financial reports which will be used as input for invoicing. Another CVP Corp contract will be with a Scheduling Coordinator which will schedule the trades between the DCCs and NDCCs to the CAISO. A third contract for a Billing Agent is required to collect and make payments to and from the participants as calculated by the Displacement Scheduling Aggregator and collect fees from the participants to pay for the service contracts required to enable the displacement transactions. The fees collected under this Exhibit C will be used to pay for these and other services as required to implement the Displacement Program.

4. EFFECTIVE DATE AND TERM OF CONTRACT:

4.1 This Exhibit C shall become effective on the first day Western designates the Displacement Program to be effective and shall remain in effect until midnight of December 31, 2024, subject to prior termination as otherwise provided for herein.

4.2 Western's consent is required before any BR, FPP, or PUE customer can participate in the Displacement Program.

4.3 At any time during the term of this Exhibit C, any participant may terminate its participation under this Exhibit C for any reason upon twenty eight (28) calendar days advance written notice to the CVP Corp and Western that it intends to terminate its participation in the Displacement Program. Such termination shall be effective no earlier than the first day of the calendar month that falls at least 28 calendar days after such notification is provided. After a DCC or NDCC has terminated its participation in the Displacement Program, Western will modify Exhibit A of Contract 09-SNR-01256 as appropriate to remove such NDCC or DCC.

4.4 The term of this Participant Exhibit C shall be coincident with the term of Contract 09-SNR-01256. This Exhibit C will remain in effect as long as there is at least one NDCC and one DCC, unless terminated earlier by Western in accordance with the Displacement Contract.

4.5 All obligations incurred hereunder by any individual DCC or NDCC shall be preserved until satisfied. If the Displacement Scheduling Aggregator has made a commitment for information technology or other services beyond the date when the Displacement Program is terminated, the DCCs and NDCCs will be responsible for those costs in accordance with the CVP Corp/Displacement Scheduling Aggregator contract. Similarly, any CAISO costs incurred by the Scheduling Coordinator and billed after the termination date along with the associated costs incurred by the Billing Agent to finalize the payment of costs will be the responsibility of the DCCs and NDCCs.

5. DEFINITION OF TERMS:

Unless defined in Section 5 of this Exhibit C or defined elsewhere in this exhibit, all terms used in this exhibit with initial capitalization shall have the same meaning as those contained in the Master Definitions Supplement of the CAISO Tariff. In addition, as used herein, the following terms whether singular or plural, or used with or without initial capitalization, shall have the following meanings:

5.1 "Administrative Base Fee" means the fee collected by CVP Corp from the DCCs and NDCCs for covering ongoing administrative costs of the Displacement Program.

5.2 "Administrative Startup Fee Premium" means the fee collected by CVP Corp for covering the startup costs of the Displacement Program

5.3 "Base Resource" means CVP and Washoe Project power output, as determined by Western to be available for marketing, after (1) meeting the requirements of Project Use and First Preference Customers, and (2) any other adjustments required for maintenance, regulation, reserves, transformation losses, and ancillary services. For the purpose of this exhibit BR shall also include energy from the Hourly Exchange Program.

5.4 "Billing Agent" means the entity required to collect and make payments to and from the participants as calculated by the Displacement Scheduling Aggregator and collect fees from the participants to make payments for the service contracts required to enable the displacement transactions.

5.5 "CAISO" means the California Independent System Operator Corporation or its successor.

5.6 "Displacement Account" means the CVP Corp account that is used to deposit and withdraw money to settle the transactions of the Displacement Program.

5.7 "Displacement Contract" means the agreement between Western and NDCCs and DCCs executed to establish the Displacement Program.

5.8 "Displacement Energy" means energy transactions under the Displacement Contract.

5.9 "Displacement Program" means the program developed by Western, the NDCCs and DCCs and documented in the Displacement Contract to provide for the displacement of BR, FPP and PUE.

5.10 "Displacement Scheduling Aggregator" means the entity that has contracted with the Displacement Program Administrator to perform the duties related to determining allocation of costs and benefits among the DCCs and NDCCs to the Displacement Program.

5.11 "First Preference Customer" means a customer or preference-qualified entity located within Trinity, Calaveras, or Tuolumne Counties, California, as specified under the Trinity River Division Act (69 Stat. 719) and the New Melones provisions of the Flood Control Act of 1962 (76 Stat. 1173, 1191-1192).

5.12 "First Preference Power'' means capacity and energy available under a First Preference Customer entitlement, which is the sum of 1) CVP generation, including energy exchanges with other entities; and 2) purchases made to meet the combined Project Use and First Preference Customer loads.

5.13 "Hourly Exchange Program" means the program in which all BR energy in excess of a CVP customer's load is retained by Western and offered by Western for sale to other CVP customers.

5.14 "Marketing Plan" means Western's 2004 Power Marketing Plan for the Sierra Nevada Region.

5.15 "Prefunding Entity" means any entity or Participant that pre-funds the startup costs of the Displacement Program

5.16 "Project Use Energy" means the power used to operate CVP and Washoe Project facilities in accordance with authorized purposes and pursuant to Reclamation Law.

5.1. 7 "Scheduling Coordinator'' means the entity that will schedule the trades between the DCCs and NDCCs to the CAISO.

6. PAYMENT OBLIGATIONS:

6.1 NDCCs and DCCs agree that they will be responsible for all costs allocated to them under the Displacement Program.

6.1.1 Under the terms of this Exhibit, the NDCCs and DCCs will reimburse the CVP Corp for all costs of administrating the Displacement Program.

6.1.2 The CVP Corp will be responsible for determining and settling the collection and payment of Displacement Program savings between the DCCs and the NDCCs. The settlements and shared savings methodology procedures are documented in Exhibit B of the Displacement Contract as may be modified in accordance with the procedures in that contract.

6.1.3 The CVP Corp will be responsible for determining the value of failed Inter-SC trades and billing or paying the DCC or NDCC for the failed trade.

6.1.4 The monthly CAISO invoice for costs incurred as a result of each DCCs and NDCCs participation in the Displacement Program will be passed through from the Scheduling Coordinator to CVP Corp and the CVP Corp will pay the monthly invoice to the CAISO. As part of the Displacement Scheduling Aggregator's monthly duties under the Displacement Program, the Displacement Scheduling Aggregator will identify each DCC's and NDCC's share of the monthly CAISO costs and will provide that breakdown to the CVP Corp. The CVP Carp's Billing Agent will include these CAISO charges on each DCC's and NDCC's monthly invoice for payment by each DCC and NDCC.

6.2. The CVP Corp has established and will maintain an account called the Displacement Account which will be utilized to collect receipts and make payments for the sharing of savings between DCCs and NDCCs, to make payments for certain costs incurred to administer the program, and to earn interest on the account balances.

6.3 The CVP Corp administrative costs will be recovered from DCCs and NDCCs by an Administrative Base Fee assessed on each MWh of Displacement Energy transacted by each DCC and each NDCC. Administrative costs include, but are not limited to, the costs associated with the contract for the Displacement Scheduling Aggregator, Displacement Program Scheduling Coordinator, and the Displacement Program Billing Agent.

6.3.1 The Administrative Base Fee will be determined by CVP Corp based upon the timing and size of expected payments for administrative costs and a projection of expected collection of Administrative Base Fees from DCCs and NDCCs.

6.3.2 The Administrative Base Fee, as it may be changed from time to time, is set forth in Attachment B. The CVP Corp will coordinate the development of any revised Administrative Base Fee with the DCCs and NDCCs.

6.4 The CVP Corp will receive end-of-month reporting on all displacement transactions from the Displacement Scheduling Aggregator and based on that reporting, the CVP Corp will either bill or pay each DCC and NDCC as appropriate to ensure that the DCCs and NDCCs share the savings of the previous month's displacement transactions.

6.5 The bills will be sent in electronic format to the DCC or NDCC and will be due by the date specified on the bill, which will normally be 15 days. DCCs and NDCCs shall make payment to the CVP Carp's Billing Agent. If a payment is late, it will accrue an interest penalty of one percent per month. Bills will be issued based on the CAISO's preliminary billing statements and trued-up when the CAISO issues the final bill.

6.6 The revenue collected from DCCs and NDCCs who owe for displacement savings will be sent to DCCs and NDCCs that are to receive the displacement savings as soon as possible after the revenue has been collected.

6.7 The CVP Corp is acting solely as an agent for all parties to the Displacement Program to distribute payments related to the Displacement Program savings, and to collect administrative costs. Should a DCC or NDCC not make a timely payment to the CVP Corp associated with their payment obligations under the Displacement Program, the CVP Corp will withhold payments owed to the other DCCs or NDCCs pro rata based upon the amounts owed.

6.8 Startup costs for the administration related to the Displacement Program will be prefunded by Prefunding Entities at the levels shown in Attachment A. The CVP Corp will send a bill to the Prefunding Entity when the funds are needed.

The Prefunding Entity contributions will be paid back to the Prefunding Entities through collection of an Administrative Startup Fee Premium on each MWh of Displacement Energy transacted by each DCC and each NDCC. The premium amount is set forth in Attachment B.

6.8.1 Once CVP Corp has collected sufficient funds through the Administrative Startup Fee Premium to pay back the Prefunding Entity contributions without interest, the Administrative Startup Fee Premium will be terminated. For the sake of ease of administration, the Administrative Startup Fee will be kept in place for whole calendar months.

6.8.2 Once the Administrative Startup Fee Premium has been terminated, the CVP Corp will begin rebating the Administrative Startup Fee Premium to those Prefunding Entities who paid the Administrative Startup Fee Premium as soon as sufficient fees have been collected. The rebate will be at a rate equal to one half of the Administrative Startup Fee Premium, and will be credited to ongoing transactions of those Prefunding Entities having paid the Administrative Startup Fee Premium, until each such Prefunding Entity has had their total Administrative Startup Fee Premium contributions returned, without interest.

6.9 Western requires a 90 day advance fund for CAISO costs associated with the Displacement Program scheduling coordinator services in case of a payment default by the CVP Corp. This has been estimated to be $3,400 per DCC and NDCC. The CVP Corp will bill each DCC and NDCC $3,400 upon signature of this exhibit, which will be payable within 10 aays of signature. The CVP Corp will then provide these dollars to Western to be put into Western's non-interest bearing trust account. Once Western has received the scheduling coordinator reserve funds, the DCC or NDCC can utilize the Displacement Program.

Western will not require Federal entities, whether DCCs or NDCCs, to advance fund monies. In addition, for those non-Federal DCCs and NDCCs that Western will be executing the Displacement Program contracts on behalf of, which are identified in Exhibit A to the Displacement Contract, since Western already has advance funding established on behalf of these customers, they will not be required to advance an additional $3,400 required under this section. The City of Redding and the Eastside Power Authority also have existing trust accounts established with Western and will not be required to advance an additional $3,400 required under this section. If Western revises the 90 day advance amount based on actual charges incurred with the CAISO, the CVP Corp will pass that adjustment on to the DCC or NDCC.

6.10 Western will return the DCCs and NDCCs advance fund amount to the CVP Corp and the CVP Corp will return it to the DCC or NDCC when they terminate their participation in the Displacement Program, unless the DCC or NDCC is in default. If the DCC or NDCC is in default the CVP Corp can use the advance fund to help cure the default.

6.11 If a DCC or NDCC wants data from the Displacement Aggregator that is not needed by the other DCCs or NDCCs, the DCC or NDCC may contract directly with the Displacement Aggregator for the additional service. The cost will be the responsibility of that DCC or NDCC.

6.12 If a DCC or NDCC causes Displacement Program costs to the CVP Corp from actions that are the sole responsibility of that entity, those costs will be allocated directly to that entity.

6.13 The CVP Corp may utilize a portion of the interest that accrues in the Displacement Account to pay for its costs. If the CVP Corp administrative and overhead expenses are greater than the accrued interest earnings, the CVP Corp may authorize the collection of monthly or annual fees to be paid by the DCCs and NDCCs. Any interest remaining after CVP Corp expenses have been paid is available for payment of the Displacement Program administrative costs.

6.14 It is recognized that the CVP Corp will have full use of the funds in the Displacement Account; however, such use of funds will be limited to the implementation of the Displacement Program. Funds in the Displacement Account will only be invested in US Treasury or US Agency securities or money market funds that invest only in such securities.

6.15 if a DCC or NDCC withdraws from the Displacement Program, it will not be entitled to any refund from revenue that may exist in the Displacement Account as a result of the fees assessed per MWh to pay the costs of the Displacement Program. If the Displacement Program is terminated, any remaining funds after payment of all obligations of the Displacement Program will be distributed to the NDCCs and DCCs by the CVP Corp based upon the percentage of Displacement Energy (MWh) transactions of each DCC and NDCC over the 12 months immediately preceding the Displacement Program termination.

6.16 The CVP Corp will provide the DCCs and NDCCs a monthly report developed by the Displacement Scheduling Aggregator regarding the transactions that occurred. If there is a discrepancy between the Displacement Scheduling Aggregator report and that of the DCC or NDCC, the parties will meet to reconcile the numbers.

6.17 Any DCC or NDCC may audit the accounting of the Displacement Program at the participant's own expense.

6.18 Western may be required to provide legal representation and/or pay for any costs (including judgments) related to legal or regulatory proceedings related to the Displacement Program. The DCCs and NDCCs participating in the Displacement Program during the time frame associated with any legal or regulatory proceeding agree that they will pay Western its legal fees and costs (including any judgment against Western) in accordance with the terms and conditions set forth in the Displacement Contract. CVP Corp shall have no obligation to collect these fees from DCCs and NDCCs, nor shall CVP Corp have any responsibility to pay these fees to Western. However, as it relates to legal representation and fees associated with Western's performance as the CVP Corp's Scheduling Coordinator under Section 7 in Exhibit C to Contract 03-SNR- 00583, CVP Corp is responsible for these costs. The CVP Corp will bill each DCC and NDCC under this Exhibit C to the CVP Corporation Membership Agreement, and each DCC and NDCC will be responsible for their appropriate share of these costs under this Exhibit C.

7.0 DEFAULT AND SUSPENSION PROVISIONS:

7.1 The failure of a DCC or NDCC to perform any of its payment obligations under this Exhibit C shall constitute a default. If CVP Corp determines the DCC or NDCC to be in default, the CVP Corp shall notify the DCC or NDCC in writing.

If the DCC or NDCC has not cured such default within seven (7) calendar days, the CVP Corp may suspend service under this Exhibit C.

7.2 If the DCC or NDCC has not cured a default within thirty 30 calendar days (from the date of default), the CVP Corp shall have the right to terminate this Exhibit C with the DCC or NDCC and assess damages to the DCC or NDCC.

7.3 Should a DCC or NDCC fail to place the required Inter-SC trades associated with its participation in Displacement Program transactions, CVP Corp may suspend the DCC or NDCC from Displacement Program transactions on a temporary basis, until such DCC or NDCC can demonstrate that it can resume Displacement Program transactions and be successful in entering the required Inter-SC trades.

7.4 Notwithstanding any suspension that CVP Corp may impose on any DCC or NDCC in accordance with Section 7.3, for any DCC or NDCC failure to place the proper Inter-SC trade(s) which results in a financial obligation to CVP Corp due to the failed Inter-SC trade(s), such DCC or NDCC shall pay CVP Corp the settlement amount for the failed Inter-SC trade(s) in advance of the regular Displacement Program billing cycle and within ten (10) calendar days of receiving notice from CVP Corp for the settlement amount owning. The responsibility for any costs incurred as a result of a DCC's or NDCC's scheduling coordinator failure to submit the necessary information will be the financial responsibility of that DCC or NDCC. Should such DCC or NDCC not make payment for such settlement amount owing related to the failed Inter-SC trades within the specified time, CVP Corp may suspend further Displacement Program transactions for such DCC or NDCC until such DCC or NDCC has paid CVP Corp for the obligations associated with such failed Inter-SC trade(s).

7.5 As Displacement Program Administrator, CVP Corp is acting solely as an agent for all DCCs and NDCCs to the Displacement Program and by signature herein, each DCC or NDCC waives any claim, right and cause of action against CVP Corp for the default of contractors providing services to the CVP Corp on behalf of each individual DCC or NDCC.

PARTICIPANT
APPROVED ASTORlltM:
.MNTA CL4&t arr Art01Umr$ ORICB
RBlZNll U1C1nD. cm AmJIIND'
By:~ LINDSAYS
DEJ>Un' CITY A ITORNEY
ATT~
CityGlerk
Titl
racino
City Manager
Address:1500 Warburton Ave.

Santa Clara, CA 95050

CT CORPORATION
Address : 651 Commerce Drive --~....;;;..;::~.;..;..;;;..;;..;;;...;:;....::;..;...;..;...a:; ______ _ Roseville Ca 95678
Entity
CVP Corp
SMUD
NCPA

ATTACHMENT A
(Prefunding Entities and Estimated Contributions)
Amount
$65,000
$25,000
25,000
Attachment B
(CVP Corp Displacement Program Service Fee)
Date Effective
April 1, 2009 - current
Administrative
Base Fee
$0.55/MWh
Administrative
Startup Fee Premium
$0.25/MWh
CVP Corp

FIRST AMENDMENT TO CENTRAL VALLEY PROJECT CORPORATION MEMBERSHIP

AGREEMENT
This First Amendment ("Amendment") to Central Valley Project Corporation Membership Agreement is entered into by and between the Central Valley Project Corporation, a California nonprofit public benefit corporation ("CVP Corp") and Silicon Valley Power, City of Santa Clara (SVP), (individually a "Participant"), and each undersigned participant collectively referred to as "the Participants" . The CVP Corp and any of the Participants individually are called "Party" and collectively are called "Parties ."
WHEREAS, SVP entered into the Central Valley Project Corporation Membership Agreement dated effective July 15, 2003 (the "Agreement"); and WHEREAS, CVP Corp is formed for the benefit of, and to carry out the purposes of, the Participants by helping the Participants achieve cost savings and efficiencies; facilitating customer involvement, and conducting joint actions as directed by the Participants; and WHEREAS, the United States of America, Department of Energy, Western Area Power Administration (WAPA) and CVP Corp entered into Contract 03-SNR-00583 ("Funding Contract") on June 25, 2003; and
WHEREAS, each Participant has entered into a 2025 Base Resource Contract with WAPA for a percentage of WAPA's Base Resource power for deliveries beginning January 1, 2025 , for a maximum term of thirty years; and
WHEREAS, the Parties now desire to amend the Agreement to extend the term of the Agreement for an additional ten-year period from the original expiration date of December 31, 2024, to a new date of December 31, 2034, and
WHEREAS, the Parties have agreed to modify the Agreement as set forth above; and WHEREAS, in accordance with Section k), Paragraph e), all changes to the Agreement must be in writing and signed by CVP Corp and the Participants who desire to extend the term of the Agreement; and
NOW, THEREFORE , the Parties agree as follows:

1. Section j -Term of the Agreement: Termination. The first sentence of this section of the Agreement is amended and restated to extend the term of the Agreement as follows:

This Agreement shall become effective upon execution by the CVP Corp and upon the signature of a sufficient number of Participants as determined by the CVP Corp Board of Directors and, unless earlier terminated, shall remain in effect until December 31, 2034.

The remainder of Section j of the Agreement is unchanged.

First Amendment to Central Valley Project Corporation Membership Agreement between Central Valley Project Corporation and SVP
Template 6-8-18 Page 1 of 2

2. This Amendment in no way alters the terms and conditions of the Agreement except as specifically set forth herein.

Date:______ Date: _____ _

CENTRAL VALLEY PROJECT CORPORATION SILICON VALLEY POWER, City of Santa Clara
RANDY S. HOWARD JOVAN D. GROGAN
Chair, Board of Directors City Manager
Approved as to Form:

Jane E. Luckhardt, General Counsel
First Amendment to Central Valley Project Corporation Membership Agreement between Central Valley Project Corporation and SVP
Template 6-8-18 Page 2 of 2
City of Santa Clara
Agenda Report
1500 Warburton Avenue
Santa Clara, CA 95050
santaclaraca.gov
@SantaClaraCity
24-32 Agenda Date: 3/5/2024

REPORT TO COUNCIL

SUBJECT
Action on an Agreement with KSB, Inc. and on Amendment No.1 to the Agreement with Koffler Electrical Mechanical Apparatus Repair, Inc. for Motor and Pump Maintenance and Repair for Silicon Valley Power

COUNCIL PILLAR
Deliver and Enhance High Quality Efficient Services and Infrastructure

BACKGROUND
The City of Santa Clara’s Electric Department, Silicon Valley Power (SVP), operates two power plants: the Donald Von Raesfeld (DVR) Power Plant and the Gianera Generating Station (Gianera).

These plants have a variety of pumps and motors from various manufacturers that are critical in SVP’s operations. To ensure optimal operations of the equipment, SVP engages multiple contractors to perform essential services including inspection, repair, and maintenance. Given the diverse range of motors and pumps, contractors must possess expertise across different pump and motor types and having multiple contractors in place improves availability in an emergency.

DISCUSSION
Pursuant to City Code Section 2.105.140(c), a formal Request for Proposals (RFP) was conducted, with the award recommendation based on “best value.”
The RFP for Motor and Pump Maintenance and Repair Services was published on the City’s e- procurement system. Two proposals were received from the following firms:
· KSB, Inc. (KSB)
· Koffler Electrical Mechanical Apparatus Repair, Inc. (Koffler) The proposals were independently evaluated by a three-member evaluation panel against the criteria and weights published in the RFP, including experience, technical capability, and cost. The evaluation panel determined both proposals met the requirements of the RFP. Therefore, staff recommends the following actions with both firms, as detailed in this Report to Council.

Agreement for Services with KSB
Staff is recommending entering into a master agreement for services with KSB for a five-year term, to provide as-needed support for upcoming pump and motor repair services, for a maximum compensation of $1,000,000. This year, SVP plans to repair the DVR’s boiler feed pumps, and KSB is the original equipment manufacturer.

Amendment No. 1 to the Agreement for Services with Koffler City of Santa Clara Printed on 3/1/2024Page 1 of 3
powered by Legistar™
24-32 Agenda Date: 3/5/2024
Koffler initially entered into a master agreement for services executed on July 24, 2023, for work that needed to be completed during a planned outage in November 2023. This agreement initially fell within the City Manager's approval authority of $250,000. Staff now is seeking approval to execute Amendment No. 1 to increase the maximum compensation by $750,000, for a revised maximum compensation of $1,000,000, to align with anticipated service requirements over the five-year term.

Both agreements are for five-year terms ending on July 31, 2028, with an additional one-year option to extend the term through July 31, 2029. Rates for labor and materials are established in the agreements and are subject to reasonable annual increases after the initial fixed period. Any rate increases are subject to approval by the City and must be substantiated by the contractors to the satisfaction of the City.

The maximum compensation of $1,000,000 for each agreement is based on past usage of the services. However, future requirements for the services may increase due to unanticipated repairs or regulatory changes. Therefore, staff also recommends authorizing the City Manager to execute amendments to increase compensation for an additional $1,000,000 between both agreements to a maximum not to exceed amount of $1,500,000 for each agreement.

Actual work will be assigned to the contractors pursuant to a secondary bid process. When work is identified, SVP will obtain quotes from KSB and Koffler, and SVP will select the quote based on schedule availability, experience with the specific motor or pump, and cost.

ENVIRONMENTAL REVIEW
Staff recommends that the City Council determine that the actions being considered are exempt from the California Environmental Quality Act (“CEQA”) pursuant section 15301 of Title 14 of the California Code of Regulations as the services involve maintenance and repair of existing facilities and mechanical equipment.

FISCAL IMPACT
The combined maximum compensation under the proposed agreements with KSB and Koffler is $3,000,000 ($1,500,000 for each agreement) over the life of the agreements. Sufficient funds are available in the FY 2023/24 Operating Budget in the Electric Utility Operating Fund and may be included in capital projects budget where appropriate.

Funds required for both agreements in future years will be included in proposed budgets for the corresponding years.

COORDINATION
This report has been coordinated with the Finance Department and the City Attorney’s Office.

PUBLIC CONTACT
Public contact was made by posting the Council agenda on the City’s official-notice bulletin board outside City Hall Council Chambers. A complete agenda packet is available on the City’s website and in the City Clerk’s Office at least 72 hours prior to a Regular Meeting and 24 hours prior to a Special Meeting. A hard copy of any agenda report may be requested by contacting the City Clerk’s Office at (408) 615-2220, or by email to:[email protected] <mailto:[email protected]>.

City of Santa Clara Printed on 3/1/2024Page 2 of 3
powered by Legistar™
24-32 Agenda Date: 3/5/2024

RECOMMENDATION

1. Determine that the proposed actions are exempt from CEQA pursuant to Section 15301 (Existing Facilities) of Title 14 of the California Code of Regulations;

2. Authorize the City Manager to execute an Agreement for Services with KSB, Inc. for motor and pump maintenance and repair services for a five-year term ending on July 31, 2028, with a maximum compensation not to exceed $1,000,000, to be funded by the SVP Operating or Capital Fund as applicable;

3. Authorize the City Manager to execute Amendment No. 1 to the Agreement for Services with Koffler Electrical Mechanical Apparatus Repair, Inc. for motor and pump maintenance and repair services for a five-year term ending on July 31, 2028, to increase the maximum compensation by $750,000 for a revised maximum compensation amount of $1,000,000, to be funded by the SVP Operating or Capital Fund as applicable; and

4. Authorize the City Manager to take any actions as necessary to implement and administer the above agreements and negotiate and execute amendments to (a) add or delete services consistent with the scope of services; (b) adjust future rates to account for reasonable changes in labor and materials rates; (c) exercise a one-year option to extend the term of each agreement through July 31, 2029; and (d) increase compensation for an additional $1,000,000 between both agreements for a total maximum compensation of $3,000,000 ($1,500,000 for each agreement), subject to the appropriation of funds and the review and approval as to form by the City Attorney.

Reviewed by: Manuel Pineda, Chief Electric Utility Officer Approved by: Jovan D. Grogan, City Manager

ATTACHMENTS

1. Proposed Agreement for Services with KSB, Inc.

2. Agreement for Services with Koffler Electrical Mechanical Apparatus Repair, Inc.

3. Proposed Amendment No. 1 with Koffler Electrical Mechanical Apparatus Repair, Inc.

City of Santa Clara Printed on 3/1/2024Page 3 of 3
powered by Legistar™
Agreement with KSB, Inc. Page 1 of 44
Rev. 07-01-18

EBIX Insurance No. S200000969

AGREEMENT FOR SERVICES

BETWEEN THE

CITY OF SANTA CLARA, CALIFORNIA,
AND
KSB, INC.

PREAMBLE
This Agreement is entered into between the City of Santa Clara, California, a chartered California municipal corporation (City) and KSB, Inc., a New York corporation (Contractor). City and Contractor may be referred to individually as a “Party” or collectively as the “Parties”.

RECITALS
A. City desires to secure the services of Contractor to provide as needed motor and pump maintenance and repair services for the City’s electric utility, Silicon Valley Power (“Services”), as more fully described in this Agreement in Exhibit A, entitled “Scope of Services”;
B. Contractor represents that it, and its subcontractors, if any, have the professional qualifications, expertise, necessary licenses and desire to provide certain goods and/or required Services and goods of the quality and type which meet objectives and requirements of City; and,
C. The Parties have specified herein the terms and conditions under which such services will be provided and paid for.

The Parties agree as follows:

AGREEMENT TERMS AND CONDITIONS

1. AGREEMENT DOCUMENTS
The documents forming the entire Agreement between City and Contractor shall consist of these Terms and Conditions and the following Exhibits, which are hereby incorporated into this Agreement by this reference:

Exhibit A – Scope of Services
Exhibit B – Schedule of Fees and Payment Provisions
Exhibit C – Insurance Requirements
Exhibit D – Labor Compliance
Exhibit E – Sample Work Authorization Form
Agreement with KSB, Inc. Page 2 of 44
Rev. 07-01-18

This Agreement, including the Exhibits set forth above, contains all the agreements, representations and understandings of the Parties, and supersedes and replaces any previous agreements, representations and understandings, whether oral or written. In the event of any inconsistency between the provisions of any of the Exhibits and the Terms and Conditions, the Terms and Conditions shall govern and control.

2. TERM OF AGREEMENT
Unless otherwise set forth in this Agreement or unless this paragraph is subsequently modified by written amendment(s) to this Agreement, the term of this Agreement shall begin on February 1, 2024 and terminate on July 31, 2028 (“Initial Term”).

At its sole discretion, the City reserves the right to exercise an option to extend the term for one (1) additional year through July 31, 2029 (“Extension Term”).

Such term extension shall be authorized through an Amendment to this Agreement executed by the Parties. The Initial Term and Extension Term shall be collectively referred herein as “Term.”

3. SCOPE OF SERVICES & PERFORMANCE SCHEDULE
Contractor shall perform those Services specified in Exhibit A within the time stated in Exhibit A. Time is of the essence.

4. WARRANTY
In additional to those warranties in Exhibit A, Contractor expressly warrants that all Services and materials provided in in connection thereto shall conform to the specifications, requirements and instructions set forth in this Agreement. Upon written notice by City within the warranty period, Contractor agrees to promptly replace or correct any incomplete, inaccurate or defective Services or materials at no further cost to City when defects are due to the negligence, errors or omissions of Contractor. If Contractor fails to promptly, commence to correct or replace Services or materials, City may make corrections or replace the Services and materials and charge Contractor for the actual cost incurred by City.

5. QUALIFICATIONS OF CONTRACTOR - STANDARD OF CARE
Contractor represents and maintains that it has the expertise in the professional calling necessary to perform the Services, and its duties and obligations set forth herein, and City expressly relies upon Contractor’s representations regarding its skills and knowledge. Contractor shall perform such Services and duties in conformance to and consistent with the professional standards of a specialist in the same discipline in the State of California.

Agreement with KSB, Inc. Page 3 of 44
Rev. 07-01-18

6. COMPENSATION AND PAYMENT
In consideration for Contractor’s complete performance of Services, City shall pay Contractor for all materials provided and Services rendered by Contractor in accordance with Exhibit B, entitled “SCHEDULE OF FEES AND PAYMENT.” The maximum compensation of this Agreement is One Million Dollars ($1,000,000) subject to budget appropriations, which includes all payments that may be authorized for Services and expenses, supplies, materials and equipment required to perform the Services, including any taxes. All Services performed or materials supplies, and equipment provided in excess of the maximum compensation shall be at Contractor’s expense, unless an amendment to this Agreement increasing the maximum compensation is executed by the Parties.

7. TERMINATION
A. Termi
nation for Convenience. City shall have the right to terminate this Agreement, without cause or penalty, by giving not less than thirty (30) days’ prior written notice to Contractor.

B. Termination for Default. I f Contractor fails to perform any of its material obligations under this Agreement, in addition to all other remedies provided by law, City may terminate this Agreement immediately upon written notice to Contractor.

C. Upon termination, each Pa
rty shall assist the other in arranging an orderly
transfer and close-out of services. As soon as possible following the notice of termination, but no later than ten (10) days after the notice of termination, Contractor will deliver to City all City information or material that Contractor has in its possession.

8. ASSIGNMENT AND SUBCONTRACTING
City and Contractor bind themselves, their successors and assigns to all covenants of this Agreement. This Agreement shall not be assigned or transferred without the prior written approval of City. Contractor shall not hire subcontractors without express written permission from City.

Contractor shall be as fully responsible to City for the acts and omissions of its subcontractors, and of persons either directly or indirectly employed by them, as Contractor is for the acts and omissions of persons directly employed by it.

9. NO THIRD PARTY BENEFICIARY
This Agreement shall not be construed to be an agreement for the benefit of any third party or parties and no third party or parties shall have any claim or right of action under this Agreement for any cause whatsoever.

Agreement with KSB, Inc. Page 4 of 44
Rev. 07-01-18

10. INDEPENDENT CONTRACTOR
Contractor and all person(s) employed by or contracted with Contractor to furnish labor and/or materials under this Agreement are independent contractors and do not act as agent(s) or employee(s) of City. Contractor has full rights to manage its employees in their performance of Services under this Agreement.

11. CONFIDENTIALITY OF MATERIAL
All ideas, memoranda, specifications, plans, manufacturing procedures, data, drawings, descriptions, documents, discussions or other information developed or received by or for Contractor and all other written information submitted to Contractor solely in connection with the performance of this Agreement shall be held confidential by Contractor and shall not, without the prior written consent of City, be used for any purposes other than the performance of the Services nor be disclosed to an entity not connected with performance of the Services. Nothing furnished to Contractor which is otherwise known to Contractor or becomes generally known to the related industry shall be deemed confidential.

12. OWNERSHIP OF MATERIAL
All material, which shall include, but not be limited to, data, sketches, tracings, drawings, plans, diagrams, quantities, estimates, specifications, proposals, tests, maps, calculations, photographs, reports, designs, technology, programming, works of authorship and other material (“Material”) developed, collected, prepared or caused to be prepared under this Agreement solely for the City shall be the property of City but Contractor may retain and use copies thereof to the extent authorized by the City in writing. City shall not be limited in any way or at any time in its use of said material. Contractor retains all rights, title and ownership in Contractor intellectual property used in Material. However, Contractor shall not be responsible for damages resulting from the use of said material for work outside the scope the Services including, but not limited to, the release of this Material to third parties.

13. RIGHT OF CITY TO INSPECT RECORDS OF CONTRACTOR
City, through its authorized employees, representatives or agents shall have the right during the term of this Agreement and for four (4) years from the date of final payment for goods or services provided under this Agreement to audit the books and records of Contractor upon advanced written notice for the purpose of verifying any and all charges made by Contractor in connection with Contractor compensation under this Agreement, including termination of Contractor. Such audit shall take place during Contractor’s normal business hours. Contractor agrees to maintain sufficient books and records in accordance with generally accepted accounting principles to establish the correctness of all charges submitted to City. Any expenses not so recorded shall be disallowed by City.

Contractor shall bear the cost of the audit if the audit determines that there has Agreement with KSB, Inc. Page 5 of 44
Rev. 07-01-18

been a substantial billing deviation in excess of five (5) percent adverse to the City.

Contractor shall submit to City any and all reports concerning its performance under this Agreement that may be requested by City in writing. Contractor agrees to assist City in meeting City’s reporting requirements to the State and other agencies with respect to Contractor’s Services hereunder.

14. HOLD HARMLESS/INDEMNIFICATION
A. To the extent permitted by law, Contractor agrees to protect, defend, hold harmless and indemnify City, its City Council, commissions, officers, employees, volunteers and agents from and against any third-party claim, injury, liability, loss, cost, and/or expense or damage, including all costs and reasonable attorney’s fees in providing a defense to any such claim or other action, and whether sounding in law, contract, tort, or equity, in any manner arising from, or alleged to arise in whole or in part from, or in any way connected with the Services performed by Contractor pursuant to this Agreement – including claims of any kind by Contractor’s employees or persons contracting with Contractor to perform any portion of the Scope of Services – and shall expressly include passive or active negligence by City connected with the Services.

B. Contractor’s obligation to protect, defend, indemnify, and hold harmless in full City and City’s employees, shall specifically extend any and all employment-related claims of any type brought by employees, contractors, subcontractors or other agents of Contractor, against City (either alone, or jointly with Contractor), regardless of venue/jurisdiction in which the claim is brought and the manner of relief sought.

C. To the extent Contractor is obligated to provide health insurance coverage to its employees pursuant to the Affordable Care Act (“Act”) and/or any other similar federal or state law, Contractor warrants that it is meeting its obligations under the Act and will fully indemnify and hold harmless City for any penalties, fines, adverse rulings, or tax payments associated Contractor’s breach of its responsibilities under the Act.

15. INSURANCE REQUIREMENTS
During the Term, and for any time period set forth in Exhibit C, Contractor shall provide and maintain in full force and effect, at no cost to City, insurance policies as set forth in Exhibit C.

16. WAIVER
Contractor agrees that waiver by City of any one or more of the conditions of performance under this Agreement shall not be construed as waiver(s) of any other condition of performance under this Agreement. Neither City’s review, Agreement with KSB, Inc. Page 6 of 44
Rev. 07-01-18

acceptance nor payments for any of the Services required under this Agreement shall be constructed to operate as a waiver of any rights under this Agreement or of any cause of action arising out of the performance of this Agreement.

17. NOTICES
All notices to the Parties shall, unless otherwise requested in writing, be sent to City addressed as follows:

City of Santa Clara
Attention: Silicon Valley Power
1500 Warburton Avenue
Santa Clara, CA 95050
and by e-mail at [email protected] and
[email protected]

And to Contractor addressed as follows:

KSB, Inc.
4415 Sarellen Road,
Henrico, VA 23231
and by e-mail at [email protected] and
[email protected]
The workday the e-mail was sent shall control the date notice was deemed given.

An e-mail transmitted after 1:00 p.m. on a Friday shall be deemed to have been transmitted on the following business day.

18. COMPLIANCE WITH LAWS
Contractor shall comply with all applicable laws and regulations of the federal, state and local government, including but not limited to applicable sections of “The Code of the City of Santa Clara, California” (“SCCC”). In particular, Contractor’s attention is called to the regulations regarding Campaign Contributions (SCCC Chapter 2.130), Lobbying (SCCC Chapter 2.155), Minimum Wage (SCCC Chapter 3.20), Business Tax Certificate (SCCC section 3.40.060), and Food and Beverage Service Worker Retention (SCCC Chapter 9.60), as such Chapters or Sections may be amended from time to time or renumbered.

Additionally, Contractor has read and agrees to comply with City’s Ethical Standards (http://santaclaraca.gov/home/showdocument?id=58299).

19. CONFLICTS OF INTEREST
Contractor certifies that to the best of its knowledge, no City officer, employee or authorized representative has any financial interest in the business of Contractor and that no person associated with Contractor has any interest, direct or indirect, which could conflict with the faithful performance of this Agreement. Contractor is familiar with the provisions of California Government Code section 87100 and Agreement with KSB, Inc. Page 7 of 44
Rev. 07-01-18

following and certifies that it does not know of any facts, which would violate these code provisions. Contractor will advise City if a conflict arises.

20. FAIR EMPLOYMENT
Contractor shall not discriminate against any employee or applicant for employment because of race, sex, color, religion, religious creed, national origin, ancestry, age, gender, marital status, physical disability, mental disability, medical condition, genetic information, sexual orientation, gender expression, gender identity, military and veteran status, or ethnic background, in violation of federal, state or local law.

21. NO USE OF CITY NAME OR EMBLEM
Contractor shall not use City’s name, insignia, or emblem, or distribute any information related to services under this Agreement in any magazine, trade paper, newspaper or other medium without express written consent of City.

22. GOVERNING LAW AND VENUE
This Agreement shall be governed and construed in accordance with the statutes and laws of the State of California. The venue of any suit filed by either Party shall be vested in the state courts of the County of Santa Clara, or if appropriate, in the United States District Court, Northern District of California, San Jose, California.

23. SEVERABILITY CLAUSE
In case any one or more of the provisions in this Agreement shall, for any reason, be held invalid, illegal or unenforceable in any respect, it shall not affect the validity of the other provisions, which shall remain in full force and effect.

24. AMENDMENTS
This Agreement may only be modified by a written amendment duly authorized and executed by the Parties.

25. COUNTERPARTS
This Agreement may be executed in counterparts, each of which shall be deemed to be an original, but both of which shall constitute one and the same instrument.

26. FORCE MAJEURE
A. Subject to compliance with the notice provisions of Section 26(b) Contractor shall not be liable to City for any delay in performance of Services if such delay is caused by a Force Majeure event. A Force Agreement with KSB, Inc. Page 8 of 44
Rev. 07-01-18

Majeure event means any cause or event beyond the reasonable control of Contractor which was not reasonably foreseeable as of the Effective Date and not due to the fault or negligence of the Contractor, and which could not have been avoided by due diligence and use of reasonable efforts, including: fire, flood or other act of God, by pandemic including supply chain limitations from pandemics such as COVID-19 and its variants, war (declared or not), acts of terrorism including cyber security incidents, or the public enemy, changes in governmental laws, orders, priorities or regulations including such acts that hinder Contractor's performance due to embargo, car shortage, wrecks or delay in transportation, inability to obtain necessary labor, materials or manufacturing facilities from usual sources, and which events are beyond the reasonable control of, and without any fault or responsibility on the part of Contractor The above shall constitute a Force “Majeure Event.” Notwithstanding the foregoing, under no circumstances shall the following constitute an event of Force Majeure: (a) any cost and expense increase, (b) any strike or lockout or other labor-related disturbance involving only the employees of Contractor and which is not part of a broader strike, lockout or other labor-related disturbance, (b) typical weather or climatic conditions, including precipitation (including rain and snow), heat or wind conditions, in each case as would be expected for the geographic area of the site of Contractor’s suppliers’ manufacturing facilities or in the geographic area where the Services are to be performed, (c) unavailability of labor, equipment, material or other resources to the extent such are not caused or exacerbated by an event of Force Majeure as described above, (d) normal time periods for clearing customs; and (e) price fluctuations with respect to labor or materials, supplies or components of equipment related to items to be supplied by Contractor.

B. Contractor shall give written notification to City within forty-eight (48) hours after becoming aware of any event that gives rise to a claim for Force Majeure. Such notice shall fully describe the claimed Force Majeure event, and outline the affected Contractor's efforts to prevent, avoid, overcome, delay or mitigate such Force Majeure event and the impacts on its performance hereunder, as well as the anticipated duration of such delay.

Contractor shall keep the City informed, in writing, on a regular basis during the pendency of the Force Majeure event to any updated information regarding such anticipated duration.

C. The date of delivery or time for completion shall be extended by a period of time reasonably necessary to overcome the direct effects of such an event of Force Majeure. Contractor’s remedy for an event of Force Majeure is equitable extension of time for completion, except that City may terminate this Agreement for convenience.

Agreement with KSB, Inc. Page 9 of 44
Rev. 07-01-18

27. WAIVER OF CONSEQUENTIAL DAMAGES; SELLER’S LIMITATION OF LIABILITY.

The total aggregate liability of Contractor and its subsidiaries, officers, employees and agents to City, its City Council, commissions, officers, employees, volunteers and agents and their insurers, collectively, for all claims (direct and third-party), damages, losses, expenses, costs, and liabilities of any kind arising out of this Agreement, whether such arise from a breach of contract; warranty; tort, including negligence; strict liability; or otherwise, shall be limited to one and half (1.5) times the maximum compensation in Section 6, as amended.

Notwithstanding the foregoing, the foregoing liability limitation shall not apply in cases of employee claims, indemnification obligations under Section 14, personal injury to a third party or damage to property of a third party. Contractor or City shall not be liable for any special, consequential, incidental, indirect, exemplary, or punitive damages, including, without limitation, any loss of profit or revenues, even if Contractor or City has been advised of the possibility of such damages.

28. PREVAILING WAGE
In the event the Services require payment of prevailing wage, Contractor shall comply, and ensure its subcontractors comply with Exhibit D.

Contractor certifies that it is aware of the requirements of California Labor Code Sections 1720 et seq. and 1770 et seq., as well as California Code of Regulations, Title 8, Section 16000 et seq. Contractor shall defend, indemnify and hold the City, its elected officials, officers, employees and agents free and harmless from any claims, liabilities, costs, penalties or interest arising out of any failure or alleged failure by Contractor or its employees, agents, contractors, and subcontractors to comply with the prevailing wage laws.

The Parties acknowledge and accept the terms and conditions of this Agreement as evidenced by the following signatures of their duly authorized representatives.

[SIGNATURES ON NEXT PAGE]

Agreement with KSB, Inc. Page 10 of 44
Rev. 07-01-18

CITY OF SANTA CLARA, CALIFORNIA
a chartered California municipal corporation
Approved as to Form: Dated:

GLEN R. GOOGINS
City Attorney
JŌVAN D. GROGAN
City Manager
City of Santa Clara
1500 Warburton Avenue
Santa Clara, CA 95050
Telephone: (408) 615-2210
Fax: (408) 241-6771
“CITY”
KSB, INC.
a New York corporation
Dated:

By (Signature):

Name: Eric Jenkins
Title: Supreme Service Sales Director
Principal Place of
Business Address: 4415 Sarellen Road, Henrico, VA 23231 Email Address: [email protected]
Telephone: 804-222-1818
Fax: 804-226-6962
“CONTRACTOR”
1-3-2024
Agreement with KSB, Inc./Exhibit A – Scope of Services Page 11 of 44 1/26/23

EXHIBIT A - SCOPE OF SERVICES

TABLE OF CONTENTS

SECTION 1. GENERAL ........................................................................................... 12 SECTION 2. SERVICES TO BE PERFORMED ...................................................... 12 SECTION 3. SPECIFIC REQUIREMENTS .............................................................. 13 SECTION 4. REPORTS ........................................................................................... 14 SECTION 5. COMPLETION OF WORK .................................................................. 15 SECTION 6. HOURS AND DAYS OF SERVICE ..................................................... 15 SECTION 7. SCHEDULING AND PLANNING ......................................................... 15 SECTION 8. WORK AUTHORIZATION PROCESS ................................................ 16 SECTION 9. APPLICABLE LAWS AND REGULATIONS ........................................ 21 SECTION 10. WORKMANSHIP................................................................................. 21 SECTION 11. PERMITS AND LICENSES ................................................................. 21 SECTION 12. WARRANTY ....................................................................................... 21 SECTION 13. CITY FURNISHED MATERIALS ......................................................... 22 SECTION 14. WORK AREA ...................................................................................... 22 SECTION 15. CONTRACTOR’S EQUIPMENT, TOOLS, AND MATERIALS ............ 23 SECTION 16. DISPOSAL OF WASTE & SCRAPS ................................................... 23 SECTION 17. SAFETY .............................................................................................. 23 SECTION 18. INJURY/PROPERTY DAMAGE .......................................................... 24 SECTION 19. CONTRACTOR’s PERSONNEL ......................................................... 24 SECTION 20. E-BUILDER ......................................................................................... 26 SECTION 21. SHIPPING AND FREIGHT .................................................................. 28 SECTION 22. TRANSPORTATION ........................................................................... 28

Agreement with KSB, Inc./Exhibit A – Scope of Services Page 12 of 44 1/26/23
SECTION 1. GENERAL

1.1 Contractor shall provide all necessary supervision, labor, and services, plus all tools, equipment, materials, and supplies required to provide maintenance and repair services for pumps and motors (“Services”) for Silicon Valley Power (“SVP”).

1.2 Contractor shall perform the Services according to the original equipment manufacturer (OEM) standards and industry best practices. Any deviations must be approved in writing by SVP.

1.3 Contractor will primarily perform the Services within the City of Santa Clara limits but may be requested to provide services at City’s remote sites.

1.4 The terms “City” and “SVP” may be used interchangeably throughout this Exhibit.

1.5 To the extent not inconsistent with this Agreement (including this Exhibit), the RFP 22-23-43 (including subsequent updates) and Contractor’s proposal response dated January 25, 2023, are hereby incorporated by reference herein, and shall supplement this Scope of Services and be subject to the terms and conditions of the Agreement. In the event of a conflict between the Agreement (including its Exhibits) and the RFP or Contractor’s proposal, the Agreement (including its Exhibits) shall govern and control.

SECTION 2. SERVICES TO BE PERFORMED

2.1 Motor Repair and Maintenance Services
Contractor shall provide a comprehensive motor maintenance and repair services that include but are not limited to:

2.1.1 Perform inspections on motors of various types and sizes including but not limited to, motors manufactured by GE, US Motors, Marathon Electric, TEFC, TECO, Mitsubishi, Baldor, Siemens, and WEG.

2.1.2 Repair or replace various motors up to 1000 horsepower, including alternating current (AC) motors, direct current (DC) motors, three-phase motors, and single-phase motors.

2.1.3 Perform motor alignments, terminations, balancing, rotation checks, and diagnostics which include amp draw, vibration analysis, resistance to ground checks, and meggering.

2.1.4 Repair or replace parts including shafts, stators, winding material, bearings, coolers, belts, instrumentations, local gauges, cables, conduit, oils, grease, filters, contactors, breakers, protection relays, housings and insulation.

Agreement with KSB, Inc./Exhibit A – Scope of Services Page 13 of 44 1/26/23

2.1.5 Provide all labor to remove, install, and commission new motors.

2.1.6 Provide motors parts requested by the City.

2.1.7 Perform miscellaneous motor inspections, repairs and maintenance services as directed by the City.

2.2 Pump Repair and Maintenance Services
Contractor shall provide a comprehensive pump maintenance and repair services that include but are not limited to:

2.2.1 Perform inspections on vertical and horizontal pumps of various types and sizes including, but not limited to, pumps manufactured by KSB, Goulds, Taiko, and Johnston Pump.

2.2.2 Perform alignments for pumps, motors, rotating equipment and gearboxes.

2.2.3 Inspect, clean, repair and/or replace mechanical and rotating equipment including motors, parts compressors, coolers, fans, gear boxes, and piping.

2.2.4 Install structural supports including fabrication of mounting adapters.

2.2.5 Repair and/or replace couplings.

2.2.6 Provide engineering, technical support, and non-destructive examination services.

2.2.7 Provide mechanical maintenance services.

2.2.8 Provide new/replacement parts as required to complete the Services.

2.2.9 Provide pump parts as requested by the City.

2.2.10 Perform miscellaneous pump inspections, repairs and maintenance services.

SECTION 3. SPECIFIC REQUIREMENTS
When required to perform Services, Contractor shall be responsible for providing the following associated activities:

3.1 Supervision and administrative support

3.2 Program and project management services

3.3 Subcontractor management
Agreement with KSB, Inc./Exhibit A – Scope of Services Page 14 of 44 1/26/23

3.4 Logistical planning

3.5 Scheduling services

3.6 On-site cribbing and rigging

3.7 On-site forklift services

3.8 On-site scaffolding services

3.9 On-site shoring services

3.10 On-site confined space rescue team

3.11 On-site electrical testing and non-destructive examination (NDE)

3.12 On-site miscellaneous services (portable restroom facilities, rental equipment such as light standards, generators, fueling services, etc.)

3.13 Expedited procurement and transportation of materials, parts, and equipment when requested by the City.

SECTION 4. REPORTS

4.1 Service Reports

4.1.1 Within seven (7) days after final acceptance by the City of services associated with each Work Authorization (as defined in Section 8), Contractor shall submit a written report to the City to include the following:

4.1.1.1 Type of service (such as preventative maintenance, and/or repair services)

4.1.1.2 Summary of existing conditions.

4.1.1.3 Description of noted issues/deficiencies (including photos) and suggested corrective actions.

4.1.1.4 Description of service/repairs performed.

4.1.1.5 Information shall be provided circuit by circuit.

4.1.1.6 Summary list of spare parts and material inventory, including serial number of all parts removed and installed inventory

4.1.1.7 Description of all newly installed motors and pumps and verification report of existing inventory
Agreement with KSB, Inc./Exhibit A – Scope of Services Page 15 of 44 1/26/23

4.1.1.8 Other information that the City may request

4.1.2 Provide a final report of the motors and pumps installed at SVP locations, and an existing inventory verification report.

4.2 Status Reports

4.2.1 Contractor shall provide regular cost, schedule, and status updates on services performed throughout the Term.

4.2.2 Depending on work activity, status updates may be required daily, weekly, or monthly at the direction of SVP.

4.3 Contractor shall provide all reports in electronic format and in hard copy if requested by the City.

SECTION 5. COMPLETION OF SERVICE
All Services shall be completed in a timely, efficient manner to ensure the site, equipment, and/or system is operational as soon as possible and as provided in the applicable Work Authorization / Purchase Order / Emergency Work Order.

SECTION 6. HOURS AND DAYS OF SERVICE
Contractor will generally perform the required Services during regular business hours which is between 7:00 AM - 7:00 PM PST/PDT, Monday through Friday. SVP will, at its discretion, allow access during non-business hours when required.

SECTION 7. SCHEDULING AND PLANNING

7.1 Contractor and City shall mutually agree to scheduling outages associated with performance of maintenance and repair services. When requested by City, Contractor shall be able to plan, staff and execute scheduled maintenance and inspections with 30 days advance notice.

7.2 For critical equipment, Contractor may be required to work shifts longer than twelve (12) hours per day or working alternative shifts including night shifts.

7.3 Contractor shall be available to provide 24-hour emergency services, seven (7) days per week, 365 days per year. Contractor shall provide a contact number for emergency services including holidays. Contractor shall respond via phone or email to emergency requests within 24 hours from the City’s notification.

Contractor and City shall mutually agree on scheduling the required emergency service.

Agreement with KSB, Inc./Exhibit A – Scope of Services Page 16 of 44 1/26/23
SECTION 8. WORK AUTHORIZATION PROCESS
Contractor acknowledges that Contractor is one of two firms selected to perform the Services, pursuant to two (2) separate agreements (collectively, the “Motor and Pump Maintenance and Repair Services Agreements”). Specific work will be assigned as set forth below.

8.1 Non-Emergency Work

8.1.1 When as-needed services are required, the City will request a Proposal for the work (Work Request). In its request, the City will provide a description of the work required, the deadline for response, and any other relevant information.

8.1.2 Proposal: Contractor shall prepare and submit a proposal (Proposal) for each Work Request that includes:

8.1.2.1 A work plan that includes a detailed description by task of the services to be performed.

8.1.2.2 A project timeline/schedule with discussion on any activities that may impact the project timeline/schedule.

8.1.2.3 A list of Contractor’s personnel and subcontractors including subcontractor Department of Industrial Relations (DIR)
number where required.

8.1.2.4 Any required drawings or documents.

8.1.2.5 A list of City responsibilities.

8.1.2.6 A final acceptance criteria.

8.1.2.7 An itemized cost proposal showing:

8.1.2.7.1 Hours and hourly rates by position as listed in Appendix B1 for both Contractor and
subcontractor personnel if applicable. Indicate
labor subject to prevailing wage

8.1.2.7.2 Itemized list of parts/materials including
indication of items subject to sales tax

8.1.2.7.3 Rental and/or specialty equipment

8.1.2.7.4 Reimbursable expenses, in accordance with the limitations set forth in Exhibit B
Agreement with KSB, Inc./Exhibit A – Scope of Services Page 17 of 44 1/26/23

8.1.2.7.5 Any additional costs such as but not limited to freight and permit fees

8.1.2.7.6 Breakdown of materials and labor sufficient to calculate sales tax

8.1.2.7.7 Estimated total cost including all required taxes

8.1.2.8 All submitted pricing shall be in accordance with the rates authorized in Exhibit B of this Agreement and the Proposal shall include sufficient information for the City to determine that rates are in accordance with the Agreement.

8.1.2.9 Costs for any additional equipment, parts, or services required for completion of the work as detailed in the Work Request and in Contractor’s Proposal but not reflected in the Contractor’s cost proposal shall be the sole responsibility of the Contractor and at no additional cost to the City.

8.1.2.10 The City will review the Proposal, and may elect to approve it, reject it, or use it as a basis for further negotiations with Contractor.

8.1.2.11 Provided that Contractor’s original Proposal includes all items listed in Section 8.1.2, Contractor and City may
negotiate whether the Work Authorization will be fixed price (lump sum) or based on specific rates of compensation (e.g., time and materials) for completion of the work.

8.1.2.12 Contractor must submit a revised Proposal to the City based upon such negotiations. If a fixed fee or lump sum is
authorized, a payment schedule shall be included. The final proposal shall include a clear breakdown of materials and labor indicating taxable and non-taxable items and an
estimate of sales tax.

8.1.3 Work Authorization

8.1.3.1 If the completion of the work in the Proposal will not result in total costs (including all previously authorized work)
exceeding the maximum compensation in Section 6 of the
Agreement, additional services may be authorized as set forth in this Section.

8.1.3.2 For Proposals with a total cost exceeding $50,000, Work Authorizations shall be issued in substantially the same format as Exhibit E. Each Work Authorization shall describe the services and deliverables the Contractor must provide, Agreement with KSB, Inc./Exhibit A – Scope of Services Page 18 of 44 1/26/23
the time limit within which the Contractor must complete the service and deliverables, the system acceptance criteria, warranty provisions, and the compensation for the additional services.

8.1.3.3 Subject to the terms and conditions of this Agreement, Contractor and City will negotiate the specific scope and requirements of each Work Authorization. Upon execution by the Parties, the Work Authorization shall become an
Approved Work Authorization.

8.1.3.4 Each Approved Work Authorization shall have a purchase order attached to it. A Purchase Order (“Purchase Order”) is a document issued by the City of Santa Clara Finance
Department which will reference the terms and conditions of this Agreement and serves and final approval for each
Approved Work Authorization.

8.1.3.5 For Proposals with a total cost less than $50,000, a signed Work Authorization is not required. The City will issue a Purchase Order authorizing work and the Purchase Order
will serve as the Approved Work Authorization.

8.1.3.6 Only the Assistant Director of the Electric Utility, Electric Utility Chief Operating Officer, or Chief Electric Utility Officer may, on behalf of the City, execute a Work Authorization.

Purchase Orders are issued by the Finance Department.

8.1.3.7 Except in the case of emergency which shall confirm to the conditions of Section 8.2 or where the circumstances in Section 8.1.4.4 apply, Contractor shall not initiate the additional services and the City will not compensate the Contractor until the City has executed the Work
Authorization for such additional services where applicable (“Approved Work Authorization”) and issued a Purchase
Order.

8.1.3.8 If Contractor begins work or fails to dispute a Purchase Order within three (3) business days, Contractor is assumed to have accepted the terms of the Purchase Order.

8.1.3.9 An Approved Work Authorization must be consistent with – and cannot alter - the terms and conditions of this
Agreement. The terms and conditions of this Agreement
shall prevail over any and all terms and conditions contained in an Approved Work Authorization - even if the Approved Work Authorization expressly states that it is intended to Agreement with KSB, Inc./Exhibit A – Scope of Services Page 19 of 44 1/26/23
control. Any conflicting terms and conditions in an Approved Work Authorization are invalid and unenforceable.

8.1.3.10 The City (through the individuals listed in section 8.1.3.6 or, in the case of Purchase Orders, the Finance Department) may terminate an Approved Work Order, Purchase Order, or an Emergency Work Order for convenience with ten (10)
days prior written notice to Contractor. In such event, the Contractor shall have no further rights hereunder, except that Contractor shall be paid for all Services adequately rendered prior to such termination.

8.1.4 Changes to Work Authorization

8.1.4.1 Contractor shall notify the City immediately when a situation occurs that may result in a change to the total project cost or specific line items in an Approved Work Authorization or Purchase Order. Contractor shall provide the reason for the change specific to each Approved Work Authorization or
Purchase Order.

8.1.4.2 If Contractor requires changes to a fixed price Work Authorization, Contractor shall only be permitted to request changes with justification such as additional scope
requested by City or unanticipated field conditions. For such changes, Contractor shall submit justification demonstrating that changes in cost are associated with changes in scope.

Contractor shall not be entitled to additional compensation for issues such as errors in calculation of original pricing, changes in staff, or other changes that are not directly related to changes requested by City.

8.1.4.3 In the event that unanticipated site conditions or other issues result in costs that exceed the approved Work Authorization or changes to line items in an Approved Work Authorization or Purchase Order, Contractor shall submit to the City an updated Proposal for review and approval from the City in advance of performing the work. The City will issue a new or amended Work Authorization (if required pursuant to Section

8.1.3) or Purchase Order (as applicable) to authorize such additional Services. Each changed Work Authorization and Purchase Order shall amend the Services and be
incorporated into the Services by reference.

8.1.4.4 In the event that issues are identified that can be most efficiently and economically resolved while on site, changes may be approved verbally (in the field), by telephone, or e- Agreement with KSB, Inc./Exhibit A – Scope of Services Page 20 of 44 1/26/23
mail by the following authorized individuals: Assistant Director of the Electric Utility, Electric Utility Chief Operating Officer, or Chief Electric Utility Officer. Such authorization shall be defined as an Interim Work Order. Contractor shall provide an updated Proposal within two (2) business days so that such changes can be documented in a Work
Authorization and/or Purchase Order.

8.2 Emergency Work

8.2.1 An Emergency Work Order should be utilized only in instances of a threat to public health or safety, loss of or damage to property, or serious disruption to essential services. An emergency is defined as an unforeseen event, circumstance, or combination of circumstances that the City reasonably determines to require immediate action.

8.2.2 Emergency Work Orders do not need to be in writing and may only be authorized by the Assistant Director of the Electric Utility, Electric Utility Chief Operating Officer, or Chief Electric Utility Officer. Such verbal authorizations will be confirmed by the City in writing within three (3) business days by a Purchase Order or, where applicable, a Work Authorization and/or Purchase Order.

8.2.3 When emergency services are required, Contractor shall send a Proposal to the City for the required services as soon as possible, but no later than three (3) business days after starting work. The Proposal shall be detailed in accordance with this Section 8 and shall also include any completed work. City will issue a Work Authorization (if required pursuant to Section 8.2) and Purchase Order as soon as reasonably practicable.

8.3 Each Approved Work Authorization and Purchase Order including those authorizations issued pursuant to Section 8.2 and 8.1.4.4 shall be incorporated into the Agreement by reference and subject to its terms and conditions and the Services contained therein shall be included within the Services.

8.4 Proposals, pricing and quotes are not confidential and will not be treated as confidential even if marked confidential when submitted.

8.5 Except in the situations described in Section 8.1.4.4 and Section 8.2, Contractor shall not initiate work before a Work Authorization has been approved and/or Purchase Order has been issued and the City has directed Contractor to perform Services.

8.6 Contractor shall not initiate any work which will extend past the term in Section 2 of the Agreement or exceed the maximum compensation in Section 6 of the Agreement.

Agreement with KSB, Inc./Exhibit A – Scope of Services Page 21 of 44 1/26/23
SECTION 9. APPLICABLE LAWS AND REGULATIONS

9.1 Contractor shall comply with all applicable present and future federal, state, and local regulations, ordinances and codes including but not limited to the U.S.

Occupational Safety and Health Administration (OSHA), and the California Department of Industrial Relations and the Division of Occupational Safety and Health (Cal/OSHA).

9.2 Where any applicable laws or ordinances conflict with the City’s requirements, the more stringent requirement(s) shall be followed. Contractor's failure to be thoroughly familiarized with the provisions of any applicable federal, state, and local regulations, ordinances and codes shall not relieve Contractor from compliance with the obligations and penalties resulting therefrom.

SECTION 10. WORKMANSHIP

10.1 Contractor shall perform all Services in a professional manner and environmental responsible manner that meets or exceeds industry and professional standards of performance. All activities shall be performed by a Contractor employee skilled in the particular task to which they are assigned.

10.2 All parts and/or components replaced or newly installed in the system shall be factory new and free of defects in title, materials and workmanship at the time of their delivery and installation. However, if approved by the City, Contractor may use rebuilt parts or new parts from another manufacturer if approved by the original manufacturer and/or City for use in the specific piece of equipment of the system.

10.3 Poor or inferior workmanship, as determined at the reasonable discretion of the City, shall be removed and replaced to conform to the quality standards of the industry, or otherwise corrected to the satisfaction of the City, at Contractor’s sole expense.

10.4 City reserves the right to inspect any work performed by Contractor and its subcontractors. If, upon inspection, the City determines that there is any unsatisfactory or defective work, Contractor must correct the work at no additional cost to the City.

SECTION 11. PERMITS AND LICENSES
Contractor shall obtain, maintain, and pay for all licenses, permits, and certificates required by any statute, ordinance, rule, or regulation.

SECTION 12. WARRANTY

12.1 Services. For each Approved Work Authorization, Purchase Order, and Emergency Work Order, all Services shall carry a warranty of a minimum of Agreement with KSB, Inc./Exhibit A – Scope of Services Page 22 of 44 1/26/23
twelve (12) months from the Service completion date as set forth in each Work Authorization. Warranty related-work shall be at no additional cost to the City.

12.2 Parts. With respect to any parts or other items furnished by Contractor to perform the Services, Contractor’s warranty shall extend to the end of the manufacturer’s warranty period or for six (6) months after completion of Services, whichever is later. Parts manufactured by Contractor or others shall be warranted for a period commensurate with that Part’s original manufacturer’s warranty to ensure that the City receives a warranty period that is as long as the original Part manufacturer’s warranty. Contractor shall provide the City with a copy of the extended manufacturer’s warranty.

12.3 Contractor shall be responsible for performing all warranty work within a reasonable time. In emergencies where damage may result from delay or where the loss of service may result, the City may choose to perform the work covered in the warranty. The cost associated with the City completing the warranty work shall be charged to Contractor, provided Contractor’s technical instructions are followed.

SECTION 13. CITY FURNISHED MATERIALS
Contractor shall credit the City for any City-furnished materials that are used, lost, stolen, damaged or rendered unusable by actions of Contractor. City agrees to provide such documentation as Contractor reasonably requests, including receipts.

SECTION 14. WORK AREA

14.1 Contractor shall ensure that the work site is free from all surplus materials, waste materials, debris, spills, dirt and rubbish caused by Contractor’s performance of Services. Upon completion of the Service or at the end of each day, whichever comes first, Contractor shall ensure the work area is in a clean safe condition. The City shall be the sole judge as to the adequacy of the cleanup.

14.2 Contractor shall follow all directions of City with regard to clean-up both during the course of, and upon completion of Services. If Contractor fails to clean up the work area within forty-eight hours (48) after demand by the City, City may charge Contractor for direct, out of pocket costs of clean-up or other work required to adequately protect the SVP's electrical or other facilities or to restore work area to a safe condition. City may invoice Contractor or deduct costs from Contractor’s invoice at City’s sole discretion.

14.3 Contractor must provide work and traffic signage as required to warn pedestrians and vehicular traffic of work in progress. Contractor may be required to direct pedestrians and traffic around the work area. Contractor shall also be responsible for providing all equipment and personnel necessary to properly perform the traffic control measures, including but not limited to, flaggers, cones, reflectors, electronic signs, barricades, caution tape, temporary paving, or steel plates.

Agreement with KSB, Inc./Exhibit A – Scope of Services Page 23 of 44 1/26/23

14.4 Contractor shall make all reasonable efforts to minimize obstructions and inconvenience to SVP’s operations and others who may be impacted by Contractor’s Services.

SECTION 15. CONTRACTOR’S EQUIPMENT, TOOLS, AND MATERIALS

15.1 All equipment, tools (including any specialty tooling), and materials required for the execution of the work shall be provided by Contractor. City will not loan tools or equipment to Contractor. Neither the Contractor nor its workers shall attempt to borrow tools or other materials from City personnel.

15.2 Tools and equipment shall be kept in proper operating condition and used only for the purpose for which they were designed. City reserves the right to suspend work if improper tools or equipment are being used or operated.

15.3 Tools and equipment shall be safely stored overnight under lock and key. Loss of any tools or equipment shall be reported immediately to the City.

15.4 All vehicles, equipment, and ladders shall be secured when not in use. Keys shall not be left in any vehicles or equipment when not in use.

15.5 City will not be responsible for the loss of tools, equipment, or materials.

SECTION 16. DISPOSAL OF WASTE & SCRAPS

16.1 All waste generated by Contractor in the performance of Services must be managed in accordance with all applicable local, state, and federal regulations and laws. Contractor is solely responsible for arranging and implementing the proper handling, management, storage, transport, and disposal of all wastes including any hazardous materials.

16.2 Contractor shall provide the City with a written report of all disposal of Contractor- generated waste within twenty-four (24) hours of disposal unless a shorter timeline is required by local, state, and/or federal regulations.

16.3 Contractor shall recycle all material scraps, and credit the value to the City.

SECTION 17. SAFETY

17.1 Safety must always be the top priority. Contractor shall take all necessary precautions for the safety of all persons on the work site. Contractor must erect and properly maintain at all times, as required by the conditions and progress of the Services, all necessary safeguards for the protection of all persons and the public including posting danger signs and warnings against known or unusual hazards.

Agreement with KSB, Inc./Exhibit A – Scope of Services Page 24 of 44 1/26/23

17.2 Contractor shall maintain an effective Injury and Illness Prevention Program (IIPP) in writing pursuant to Section 3203, Title 8 of the California Code of Regulations (CCR). The written plan shall include specific instructions with regard to hazards unique to the employee's job assignment. At City’s request, a copy of the Contractor’s IIPP shall be submitted to the City prior to the execution of an agreement and be made available on-site.

17.3 Contractor shall schedule safety inspections as necessary and as may be requested by the City to identify and correct unsafe conditions and work practices.

The City reserves the right to accompany Contractor during these inspections.

17.4 Contractor must comply with all site-specific safety requirements and procedures including but not limited to Lockout/Tagout (LOTO), Energy Isolation, Confined Space, Fall Protection, Chemical Safety, Hazardous Waste, and Personnel Protective Equipment (PPE).

17.5 Contractor’s employees (including any subcontractors) shall utilize appropriate Personal Protective Equipment (PPE) and Fire Resistant (FR) clothing, as required. Any required PPE and FR clothing shall be provided at the expense of Contractor.

17.6 When requested by the City, Contractor shall provide an on-site Safety Manager/Supervisor to ensure compliance with all applicable Safety rules and regulations, perform daily audits and submit daily reports to the City that identify discrepancies or non-compliance, provide direction in regards to safety rules and regulations to Contractor Project Manager and/ On-Site Supervisor (as defined in Section 19) and Contractor employees.

SECTION 18. INJURY/PROPERTY DAMAGE
Contractor shall notify the City immediately in the event of an injury or property damage that occurs during the performance of the services. Contractor shall investigate the reported injury or damage upon request from City and provide City with regular updates including all accident reports until the investigation is resolved. City reserves the right to perform its own investigation. Should City choose to conduct its own investigation, Contractor shall assist as required.

SECTION 19. CONTRACTOR’S PERSONNEL

19.1 Project Manager/On-Site Supervisor
Contractor must designate one (1) Project Manager or On-Site Supervisor to communicate with the City during performance of Services. The Project Manager/On-Site Supervisor is the designated point of contact for the City to communicate work tasks and receive feedback. The Project Manager/On-Site Supervisor must be capable of communicating effectively with SVP staff.

Agreement with KSB, Inc./Exhibit A – Scope of Services Page 25 of 44 1/26/23

19.2 Staffing

19.2.1 Contractor shall be responsible for its employees' professional and technical competence and will select appropriate individuals who are qualified, certified, and/or licensed to perform the assigned task.

19.2.2 Contractor shall ensure its employees and any subcontractors supply proper identification when requested by the City.

19.2.3 Contractor shall inform City immediately of any change in key personnel assigned to this agreement. Contractor shall submit the resumes and other qualifications of the proposed replacement employee(s) to City for review and approval.

19.3 Employee Training

19.3.1 At Contractor’s sole cost and expense, Contractor shall provide recurring, periodic (no less than annual) training to its employees (including subcontractors) appropriate to the duties and responsibilities of each employee.

19.3.2 It is essential that all employees be thoroughly trained and familiar with the equipment and procedures to be followed.

19.3.3 Training shall follow Contractor’s standard policies and procedures and shall be in compliance with all applicable federal, state, and local laws, including but not limited to safety and injury prevention training requirements contained in the OSHA standards.

19.3.4 Contractor shall be familiar with SVP’s operating standards. All employees are required to watch SVP’s safety video once per calendar year or prior to the commencement of Services.

19.3.5 At the City’s request, Contractor shall submit copies of training records for its employees.

19.4 Standards of Conduct

19.4.1 Contractor shall be solely responsible for its employees while on or about
the work site, including but not limited to, maintaining discipline, ensuring standards of conduct are adhered to, and enforcing safety policies, procedures, and orders. Contractor shall ensure that while on or about the work site, its employees do not:

19.4.1.1 Display a discourteous, abrupt, abrasive, or belligerent attitude.

19.4.1.2 Possess or use alcohol, narcotics, firearms, or illegal drugs. --
Agreement with KSB, Inc./Exhibit A – Scope of Services Page 26 of 44 1/26/23

19.4.1.3 Use any prescribed or over-the-counter medications which can potentially impair the employee's ability to perform the work safely.

19.4.1.4 Present or identify themselves as employees of the City of Santa Clara.

19.4.1.5 Possess any firearms, narcotics, drugs, intoxicants, or other restricted materials while on the premises.

19.4.2 Contractor shall immediately remove its employee and provide a replacement, at the request of City, in the event an employee fails to meet the standards of conduct set forth above.

19.4.3 In the event that a complaint is made against Contractor’s employee, Contractor shall notify the City immediately and provide a written explanation detailing how the situation was resolved.

SECTION 20. E-B UILDER

20.1 When required by City, Contractor shall use utilize e-Builder for submission of data and documents throughout the term of this agreement.

20.2 e-Builder is a web-based construction management application hosted by e- Builder, Inc. For certain projects to be defined by the City, e-Builder shall be the primary means of project information submission and management or as otherwise agreed upon with the City.

20.3 The City will establish the Contractor's access to e-Builder by providing licenses to Contractor’s personnel at City’s cost. The Contractor’s designated users will be required to set up their computers/systems to use e-Builder in accordance to the e-Builder User Training Guide. The City reserves the right to limit the licenses issued to Contractor in the future.

20.4 Contractor is required to obtain all necessary training to use the software. The City will provide one classroom training or a web-based seminar. A training session is 1 - 2 hours.

20.5 e-Builder is a web-based environment and therefore it is subject to the inherent speed and connectivity limitations of the Internet. Contractor is responsible for its own connectivity to the Internet. e-Builder’s response time is dependent on the Contractor's equipment, including processor speed, Internet access speed, etc., and current traffic on the Internet. The City will not be liable for any delays associated with the usage of e-Builder including, but not limited to slow response time, downtime periods, connectivity problems, or loss of information. The Contractor shall ensure connectivity to the e-Builder system whether at the home Agreement with KSB, Inc./Exhibit A – Scope of Services Page 27 of 44 1/26/23
office or job site. Under no circumstances will the usage of e-Builder be grounds for a time extension or cost adjustment to the Agreement.

20.6 Data entered in a collaborative mode (entered with the intent to share as determined by permissions and workflows within the e-Builder system) by the City and the Contractor will be jointly owned.

20.7 Contractor is responsible for managing, tracking, and documenting the work to comply with the requirements of this Agreement. The City's acceptance via automated system notifications or audit logs extends only to the face value of the submitted documentation and does not constitute a validation of the Contractor's submitted information.

20.8 At the City’s sole discretion, project documents may be processed and distributed digitally over the internet or may be required to be presented in hard copy format.

20.9 While regular email may still be used for communication, when requested by the City, e-Builder shall be utilized as much as possible in connection with all document and information management required in the performance of projects where City has directed the use of e-Builder. Contractor shall be responsible for scanning or otherwise converting to electronic format all project submittals and Contractor correspondence, drawings, sketches, etc., and uploading them to the e-Builder website and shall be responsible for the validity of the information placed in e-Builder. The Contractor shall utilize the existing forms and processes in e-Builder to the maximum extent possible. If a required form does not exist in e- Builder, the Contractor shall include a form of its own or one provided by the City (if available) as an attachment to a submittal or process. Documents and information to be submitted electronically include, but are not limited to:

20.9.1 Correspondence

20.9.2 Meeting Minutes

20.9.3 Submittals and Shop Drawings

20.9.4 Product Data, reports, certifications, etc. must be submitted in PDF. (If a sample can be scanned, it is requested that a scanned PDF copy be submitted with the sample.

20.9.5 Requests for Information (RFI’s)

20.9.6 Submittals and Shop Drawings

20.9.7 Change Order requests and documentation, including record copies of change orders, proposals, and modifications.

20.9.8 Pay Applications
Agreement with KSB, Inc./Exhibit A – Scope of Services Page 28 of 44 1/26/23

20.9.9 “Official” correspondence (such as letters) including informal correspondence, such as email.

20.9.10 Pre-Task Plans (PTPs)

20.9.11 Daily Construction Reports and other Daily Reports including Contractor Quality Control (CQC) Reports

20.9.12 All official reports, such as Commissioning reports

20.9.13 Notices and Claims

20.9.14 Operations and Maintenance Manuals

20.9.15 All Close-out documents, and

20.9.16 All testing results

20.10 Archive Copies: When requested by City, Contractor shall keep an archive copy of all digital data created by Contractor, or submitted to Contractor via e-mail, or resident on the e-Builder for the duration of the Project. Such data shall be available to City, and authorities with the jurisdiction (including funding agencies or representatives) on demand.

20.11 Should the City replace e-Builder with a different project management tool, Contractor, and subcontractors shall be required to utilize the new project management tool selected by the City.

SECTION 21. SHIPPING AND FREIGHT

21.1 Contractor shall be responsible for shipment and delivery of all required products and materials to City. All freight charges will be pre-paid by Contractor. All products and materials shall be entirely at Contractor’s risk from the time they are placed in the possession of the carrier for shipment to/from City until final acceptance by the City. Contractor shall ensure that the products and materials are insured against “all risks” from the time the products and materials are placed in the possession of the carrier for shipment to/from City. Contractor will pack and ship all equipment in accordance with good commercial practices.

21.2 Contractor shall notify City at least sixty (60) minutes prior to arrival of any deliveries to City. City will provide a contact name and phone number to the Contractor. The shipping location is:

City of Santa Clara, Donald Von Raesfeld Power Plant
850 Duane Ave., Santa Clara, CA 95054
Agreement with KSB, Inc./Exhibit A – Scope of Services Page 29 of 44 1/26/23
SECTION 22. TRANSPORTATION
Contractor shall ensure that the products and equipment are insured against “all risks” from the time they are placed in the possession of the Contractor for shipment to/from the City until received by the City at a City-designated facility.

Agreement with KSB, Inc./Exhibit B – Schedule of Fees and Payment Provisions Page 30 of 44 1/26/23

EXHIBIT B

SCHEDULE OF FEES AND PAYMENT PROVISIONS
SECTION 1. MAXIMUM COMPENSATION
The maximum compensation payable to Contractor during the Term shall not exceed the amount in Section 6 of the Agreement.

SECTION 2. RATES
Compensation under each Work Authorization and /or Purchase Order shall be in accordance with the rates set forth herein.

2.1 Rates. C ontractor shall submit Proposals and invoice all Services at the rates listed in Appendix B1 attached and incorporated by reference.

2.2 Rates listed in A ppendix B-1 (Rate Schedule) are fully burdened and will remain fixed for the first two (2) years of the Agreement.

2.3 Rate Increase. A fter the first two years, rates may be negotiated no more than once annually. Contractor shall notify the City ninety (90) days in advance of any proposed rate increase. Any rate increases are subject to approval by the City and must be substantiated by the Contractor to the satisfaction of the City. All rate adjustments must be approved by the City by executing an amendment to this Agreement. References to alternate rates in quotes that have not been separately authorized pursuant to this section are not approved.

2.4 Reimbursable Expenses. Any
and all reimbursable expenses related to each
Work Authorization or Purchase Order shall be described in Contractor’s Proposal as set forth in Section 8 of Exhibit A and accounted for in the total cost for each Proposal, Work Authorization, and Purchase Order, as applicable. Expenses shall be reimbursable only to the extent that (1) Contractor submits sufficient documentation to City that the expenses were directly incurred in providing the required Services, (2) Contractor demonstrates that such expenses aren’t included in the hourly rate where applicable, (3) such expenses were approved in advance pursuant to Section 8 of Exhibit A, and (4) Contractor submits receipts, invoices, or other supporting documentation demonstrating that such reimbursable costs were incurred. Any reimbursement to the Contractor is limited to the expenses set forth below in the Reimbursable Expense Schedule.

Reimbursable Expense Schedule Mark Up

1. The cost of mailing, shipping and/or delivery of any documents or materials.

No Markup

2. The cost of photographing, printing, reproducing and/or copying any documents or materials.

No Markup
Agreement with KSB, Inc./Exhibit B – Schedule of Fees and Payment Provisions Page 31 of 44 1/26/23
Reimbursable Expense Schedule Mark Up

3. Charges for outside services (including subcontractor fees, equipment, materials, and facilities not furnished directly by Contractor).

Not to exceed 15%

4. Other reimbursable expenses with prior written approval from the City
No Markup

5. Allowable mileage will be charged at the prevailing IRS rate per mile.

No Markup

6. Unless approved in writing (e-mail acceptable) in advance, meals, lodging, and related per diem shall not exceed the rates outlined by United States General Services
Administration (GSA).
https://www.gsa.gov/travel-
resources. Airfare or rental car, where applicable shall be at economy rates.

No Markup
SECTION 3. PAYMENT PROVISIONS

3.1 Time and Material. For As-Needed Services authorized to be paid on a time and material basis, Contractor shall provide an invoice to the City on a monthly basis for services completed in the preceding month, pursuant to the rates listed in Table B1 in Appendix B1. The invoice must include the following information:

3.1.1 Invoice Number, Purchase Order Number, and Invoice Period.

3.1.2 Current amount due with a time and materials breakdown: titles, hours, hourly rates, and any City approved reimbursable expenses itemized with supporting documentation.

3.1.3 Each invoice shall provide sufficient detail for City to verify that the rates listed in Table B1 are charged. Additionally, invoices shall include sufficient detail to allow for accurate comparison with certified payroll submittals.

3.2 Fixed Price. For As-Needed Services authorized to be paid on a fixed price basis, Contractor shall provide an invoice to the City based on either (a) the percentage of services completed during the previous month or (b) a lump sum amount upon the completion of deliverable(s), as specified in the Purchase Order. Invoices must include the following information:

3.2.1 Invoice Number, Purchase Order Number, and Invoice Period.

3.2.2 Detailed information on the work performed on each deliverable or task completed on each project, as applicable.

3.2.3 Contractor shall not invoice labor costs subject to prevailing wages in advance of performing the applicable services.

Agreement with KSB, Inc./Exhibit B – Schedule of Fees and Payment Provisions Page 32 of 44 1/26/23

3.2.4 With regard to milestone payments, Contractor shall invoice each milestone payment in full. Contractor shall not split milestone payments into multiple invoices.

3.3 Pre-Payment. City shall not be required to pay a deposit or any other form of pre- payment prior to Contractor beginning work.

3.4 Payment Limited to Satisfactory Work. Contractor is not entitled to any payments until the City concludes that the services and/or any furnished deliverables have been satisfactorily performed, such approval not to be unreasonably withheld or delayed.

3.5 Recalculation. The City may recalculate and pay invoices based on the rates established in this Agreement.

3.6 Certified Payroll. When applicable, Contractor must submit all necessary certified payrolls through LCP Tracker in advance of its request for payment, in accordance with Exhibit D.

3.7 Disputed Invoices. I
f the City in good faith disputes any portion of an invoice, the City shall pay the undisputed portion of the invoice and submit written notice to Contractor regarding the disputed amount. The notice shall include documentation supporting the disputed amount.

3.8 Payment. If
there are no discrepancies or deficiencies in the submitted invoice and Contractor has submitted all required certified payroll, City shall process the invoice for payment.

-
Agreement with KSB, Inc./Appendix B-1 -Rate Sheet Page 33 of 44 1/26/23
APPENDIX B-1

RATE SCHEDULE
SECTION 1. RATES
Contractor shall charge, and the City shall pay for actual Services rendered and authorized according to the process outlined in Section 8 of Exhibit A. The rates applicable for the Services are listed below in Table B1.

In cases where services are required but not listed below, Contractor shall submit rates for approval by the City in advance, in writing before performing the Services. For the avoidance of doubt, any changes to the rates in Table B1 must be authorized by an amendment to the Agreement in accordance with Section 2.3 of Exhibit B. Rate changes are not permitted as part of a Work Authorization process.

TABLE B1
Labor Straight Time
Hourly Rate
Overtime
Hourly Rate
Double Time
Hourly Rate
Shop and Field Service Technician
for pumps and motors powered by
0-200 horsepower (HP)
$110.00 $165.00 $220.00
Shop and Field Service Technician
for pumps and motors powered by
200 HP or higher
$160.00 $240.00 $320.00
Field Engineer $218.00 $327.00 $436.00
Quality Control or Safety
Supervisor
$218.00 $327.00 $436.00

Services
Pickup and Delivery Pickup and delivery of parts and light equipment to/from the Contractor’s Bakersfield, CA office
and to/from City locations will be done via a
shipping carrier (e.g., FedEx, UPS, etc.).

Contractor will bill actual cost with no markup in
accordance with Section 2.4 in Exhibit B.

Agreement with KSB, Inc./Appendix B-1 -Rate Sheet Page 34 of 44 1/26/23
Transportation For transportation of heavy equipment to/from the Contractor’s Bakersfield, CA office and to/from
City locations:
(a) $1,000/roundtrip for trips scheduled between
Monday and Friday, from 7 AM to 5 PM PST/PDT
(b) $2,000/roundtrip for trips scheduled between
Monday and Friday after 5 PM PST/PDT, as well
as on Saturdays and Sundays
Laser Alignment and Vibration
Equipment $350.00 first day and $100.00 per day thereafter

Parts
Parts manufactured by Contractor shall be at price authorized in Work Authorization.

Parts from the original equipment manufacturer shall be at Contractor’s actual cost plus 15% markup.

SECTION 2. DEFINITIONS
The following definitions apply to the rates listed in Table B1:

2.1 “Straight Time” means the first eight (8) hours worked Monday through Friday, excluding U.S. Federal Holidays.

2.2 “Overtime ” means the:

2.2.1 hours worked in excess of eight (8) hours, from Monday through Friday; or

2.2.2 first eight (8) hours worked on a Saturday.

2.3 “Double Time” means the:

2.3.1 hours worked in excess of twelve (12) hours Monday through Friday; or

2.3.2 hours worked in excess of eight (8) hours on Saturdays; or

2.3.3 hours worked during U.S. Federal Holidays; or

2.3.4 hours worked on Sundays.

Agreement with KSB, Inc./Exhibit C – Insurance Requirements Page 35 of 44

EXHIBIT C

INSURANCE REQUIREMENTS
Without limiting the Contractor’s indemnification of the City, and prior to commencing any of the Services required under this Agreement, the Contractor shall provide and maintain in full force and effect on an annual renewal basis, during the period of performance of the Agreement and for twenty-four (24) months following acceptance by the City, at its sole cost and expense, the following insurance policies from insurance companies authorized to do business in the State of California. These policies shall be primary insurance as to the City of Santa Clara so that any other coverage held by the City shall not contribute to any loss under Contractor’s insurance. The coverages, provisions and endorsements are as follows:

1. COMMERCIAL GENERAL LIABILITY INSURANCE

1.1. Commercial General Liability Insurance policy which provides coverage at least as broad as Insurance Services Office form CG 00 01. Policy limits are subject to review, but shall be, the following:
$1,000,000 Each Occurrence
$2,000,000 General Aggregate
$2,000,000 Products/Completed Operations Aggregate
$1,000,000 Personal Injury

1.2. Exact structure and layering of the coverage shall be left to the discretion of Contractor; however, any excess or umbrella policies used to meet the required limits shall as broad as the underlying coverage and shall otherwise follow form.

1.3. The following provisions shall apply to the Commercial Liability policy as well as any umbrella policy maintained by the Contractor to comply with the insurance requirements of this Agreement:

1.3.1. Coverage shall be on a “pay on behalf” basis with defense costs payable in addition to policy limits;

1.3.2. There shall be no cross-liability exclusion which precludes coverage for claims or suits by one insured against another; and

1.3.3. Coverage shall apply separately to each insured against whom a claim is made, or a suit is brought, except with respect to the limits of liability.

2. BUSINESS AUTOMOBILE LIABILITY INSURANCE
Business automobile liability insurance policy which provides coverage at least as Agreement with KSB, Inc./Exhibit C – Insurance Requirements Page 36 of 44 broad as ISO form CA 00 01 with policy limits minimum of one million dollars ($1,000,000) each accident. Liability coverage shall apply to all owned (if any), non- owned and hired autos used for Contractor’s Services.

3. WORKERS’ COMPENSATION

3.1. Workers’ Compensation Insurance Policy as required by statute and employer’s liability with limits of million dollars ($1,000,000) policy limit Bodily Injury by disease, one million dollars ($1,000,000) each accident/Bodily Injury and one million dollars ($1,000,000) each employee Bodily Injury by disease.

3.2. This policy must include a Waiver of Subrogation in favor of the City of Santa Clara, its City Council, commissions, officers, employees, volunteers and agents as permitted by law.

4. PROFESSIONAL AND UMBRELLA/EXCESS LIABILITY

4.1. Professional Liability or Errors and Omissions Insurance as appropriate shall be written on a policy form coverage specifically designed to protect against negligent acts, errors or omissions of the Contractor. Covered services as designated in the policy must specifically include Services performed under this Agreement. Coverage shall be in an amount of one million dollars ($1,000,000) per claim or two million dollars ($2,000,000) aggregate.

4.2. Umbrella/Excess Liability - Policy with limits of $9,000,000 for each Occurrence and $9,000,000 General Aggregate. The Umbrella/Excess Liability Policy shall conform to the terms and conditions of the underlying policies. The schedule of underlying policies to the Umbrella/Excess Liability Policy shall include the General Liability, Auto Liability, and Employer’s Liability policies.

5. COMPLIANCE WITH REQUIREMENTS
All of the following clauses and/or endorsements, or similar provisions, must be part of each commercial general liability policy, and each umbrella or excess policy.

5.1. Additional Insureds. City of Santa Clara, its City Council, commissions, officers, employees, volunteers and agents are hereby added as additional insureds in respect to liability arising out of Contractor’s work for City, using Insurance Services Office (ISO) Endorsement CG 20 10 11 85.

5.2. Primary and non-contributing. Each insurance policy provided by Contractor shall contain language or be endorsed to contain wording making it primary insurance as respects to, and not requiring contribution from, any other insurance which the indemnities may possess, including any self-insurance or self-insured retention they may have. Any other Agreement with KSB, Inc./Exhibit C – Insurance Requirements Page 37 of 44 insurance indemnitees may possess shall be considered excess insurance only and shall not be called upon to contribute with Contractor’s insurance.

5.3. Cancellation.

5.3.1. No cancellation of the coverage provided due to non-payment of premiums shall be effective until written notice by Contractor has been given to City at least thirty (30) days prior to the effective date of such cancellation.

5.3.2. NOT USED.

5.3.3. Other Endorsements. Other endorsements may be required for policies other than the commercial general liability policy if specified in the description of required insurance set forth in Sections 1 through 5 of this Exhibit C.

6. ADDITIONAL INSURANCE RELATED PROVISIONS
Contractor and City agree as follows:

6.1. Contractor agrees to use reasonable efforts to require that subcontractors, and any other party involved with the Services, who is brought onto or involved in the performance of the Services by Contractor, maintain insurance coverage as is usual and customary for Services provided under the Purchase Order. Contractor agrees that upon written request by City, all certificates of insurance documents provided by such subcontractors and others engaged in a project will be shared with City.

6.2. Contractor agrees that it is not the intent of City to reimburse any third party for the cost of complying with these requirements. There shall be no recourse against City for payment of premiums or other amounts with respect thereto, unless otherwise agreed by the City and Contractor.

6.3. The City reserves the right to withhold payments from the Contractor in the event of material noncompliance with the insurance requirements set forth in this Agreement.

7. EVIDENCE OF COVERAGE
Prior to commencement of any Services under this Agreement, Contractor, and each and every subcontractor (of every tier) shall, at its sole cost and expense, provide and maintain the insurance coverage with the endorsements and deductibles indicated in this Agreement. Such insurance coverage shall be maintained with insurers, and under carriers’ current forms of policies, satisfactory to City and as described in this Agreement. Contractor shall file with the City all certificates and Agreement with KSB, Inc./Exhibit C – Insurance Requirements Page 38 of 44 endorsements for the required insurance policies for City’s approval as to adequacy of the insurance protection.

8. EVIDENCE OF COMPLIANCE
Contractor shall provide the required proof of insurance compliance, consisting of Insurance Services Office (ISO) endorsement forms or their equivalent and the ACORD form 25-S certificate of insurance (or its equivalent), evidencing all required coverage shall be delivered to City, or its representative as set forth below, at or prior to execution of this Agreement. Unless otherwise required by the terms of this Agreement, all certificates, endorsements, and other items required to be delivered to City pursuant to this Agreement shall be e-mailed to: [email protected].

9. QUALIFYING INSURERS
All of the insurance companies providing insurance for Contractor shall have, and provide written proof of, an A. M. Best rating of at least A minus 6 (A- VI) or shall be an insurance company of equal financial stability that is approved by the City or its insurance compliance representatives.

Agreement with KSB, Inc./Exhibit D – Labor Compliance Page 39 of 44

EXHIBIT D

LABOR COMPLIANCE
This Agreement is subject to the requirements of California Labor Code section 1720 et seq. requiring the payment of prevailing wages, the training of apprentices, and compliance with other applicable requirements.

A. Prevailing Wage Requirements

1. Contractor shall be obligated to pay not less than the General Prevailing Wage Rate, which can be found at www.dir.ca.gov and are on file with the City Clerk’s office, which shall be available to any interested party upon request. Contractor is also required to have a copy of the applicable wage determination posted and/or available at each job site.

2. Specifically, contractors are reminded of the need for compliance with Labor Code Section 1774-1775 (the payment of prevailing wages and documentation of such), Section 1776 (the keeping and submission of accurate certified payrolls) and 1777.5 in the employment of apprentices on public works projects. Further, overtime must be paid for work in excess of 8 hours per day or 40 hours per week pursuant to Labor Code Section 1811-1813.

3. Special prevailing wage rates generally apply to work performed on weekends, holidays and for certain shift work. Depending on the location of the project and the amount of travel incurred by workers on the project, certain travel and subsistence payments may also be required.

Contractors and subcontractors are on notice that information about such special rates, holidays, premium pay, shift work and travel and subsistence requirements can be found at www.dir.ca.gov.

4. Only bona fide apprentices actively enrolled in a California Division of Apprenticeship Standards approved program may be employed on the project as an apprentice and receive the applicable apprenticeship prevailing wage rates. Apprentices who are not properly supervised and employed in the appropriate ratio shall be paid the full journeyman wages for the classification of work performed.

5. As a condition to receiving progress payments, final payment and payment of retention on any and all projects on which the payment of prevailing wages is required, Contractor agrees to present to City, along with its request for payment, all applicable and necessary certified payrolls (for itself and all applicable subcontractors) for the time period covering such payment request. The term “certified payroll” shall include all required documentation to comply with the mandates set forth in Labor Code Section 1720 et seq, as well as any additional documentation requested by the City or its designee including, but not limited to: certified Agreement with KSB, Inc./Exhibit D – Labor Compliance Page 40 of 44 payroll, fringe benefit statements and backup documentation such as monthly benefit statements, employee timecards, copies of wage statements and cancelled checks, proof of training contributions (CAC2 if applicable), and apprenticeship forms such as DAS-140 and DAS-142.

6. In addition to submitting the certified payrolls and related documentation to City, Contractor and all subcontractors shall be required to submit certified payroll and related documents electronically to the California Department of Industrial Relations. Failure to submit payrolls to the DIR when mandated by the project parameters shall also result in the withholding of progress, retention and/or final payment.

7. No contractor or subcontractor may be listed on a bid proposal for a public works project unless registered with the Department of Industrial Relations pursuant to Labor Code section 1725.5 [with limited exceptions from this requirement for bid purposes only under Labor Code section 1771.1(a)].

8. No contractor or subcontractor may be awarded a contract for public work on a public works project, unless registered with the Department of Industrial Relations pursuant to Labor Code section 1725.5. Contractors MUST be a registered “public works contractor” with the DIR AT THE TIME OF BID. Where the prime contract is less than $15,000 for maintenance work or less than $25,000 for construction alternation, demolition or repair work, registration is not required.

9. All contractors/subcontractors and related construction services subject to prevailing wage, including but not limited to: trucking, surveying and inspection work must be registered with the Department of Industrial Relations as a “public works contractor”. Those you fail to register and maintain their status as a public works contractor shall not be permitted to perform work on the project.

10. Should any contractor or subcontractors not be a registered public works contractor and perform work on the project, Contractor agrees to fully indemnify the City for any fines assessed by the California Department of Industrial Relations against the City for such violation, including all staff costs and attorney’s fee relating to such fine.

11. This project is subject to compliance monitoring and enforcement by the Department of Industrial Relations.

B. Audit Rights
All records or documents required to be kept pursuant to this Agreement to verify compliance with this Exhibit shall be made available for audit at no cost to City, at any time during regular business hours, upon written request by the City Attorney, City Auditor, City Manager, or a designated representative of any of these officers. Copies of such records or documents shall be provided to City for audit at City Hall when it is Agreement with KSB, Inc./Exhibit D – Labor Compliance Page 41 of 44 practical to do so. Otherwise, unless an alternative is mutually agreed upon, the records or documents shall be made available at Contractor’s address indicated for receipt of notices in this Agreement.

C. Enforcement

1. City shall withhold any portion of a payment; including the entire payment amount, until certified payroll forms and related documentation are properly submitted, reviewed and found to be in full compliance. In the event that certified payroll forms do not comply with the requirements of Labor Code Section 1720 et seq., City may continue to hold sufficient funds to cover estimated wages and penalties under the Agreement.

2. Based on State funding sources, this project may be subject to special labor compliance requirements of Proposition 84.

3. The City is not obligated to make any payment due to Contractor until Contractor has performed all of its obligations under these provisions. This provision means that City can withhold all or part of a payment to Contractor until all required documentation is submitted. Any payment by the City despite Contractor’s failure to fully perform its obligations under these provisions shall not be deemed to be a waiver of any other term or condition contained in this Agreement or a waiver of the right to withhold payment for any subsequent breach of this Exhibit.

City or the California Department of Industrial Relations may impose penalties upon contractors and subcontractors for failure to comply with prevailing wage requirements.

These penalties are up to $200 per day per worker for each wage violation identified; $100 per day per worker for failure to provide the required paperwork and documentation requested within a 10-day window; and $25 per day per worker for any overtime violation.

Agreement with KSB, Inc./Exhibit E – Sample Work Authorization Page 42 of 44 Rev. 07-01-18

EXHIBIT E

SAMPLE WORK AUTHORIZATION FORM

This work authorization (“Work Authorization”) is made pursuant to the Agreement for Service between the City of Santa Clara and KSB, Inc. (“Agreement”). This Work Authorization is governed by the provisions of the Agreement and is hereby incorporated into the Agreement by reference. All Services are subject to the terms and rates included in the Agreement. In the event of any inconsistency between the terms and conditions of the Work Authorization and the Agreement, the terms and conditions of the Agreement shall govern and control.

PART A: GENERAL INFORMATION

WORK AUTHORIZATION
NUMBER: Original
First Revised
Second Revised
Other Contract No.

Contractor Name/Address:

Expiration Date of Agreement:

Contractor’s Project Manager: Name: Email:

City’s Project Manager Name: Email:

Period of Performance for this
Work Order:

Start Date: Expected Completion Date:

Maximum Compensation of Agreement:

Previously Committed Funds:

Available Funds
Maximum Compensation for this Work Authorization
Remaining Available Funds
Sufficient funds are available in Fund #:
(to be completed by City)
Contractor Representative Name (Print)
Contractor Representative Signature

Contractor Representative Signature Date
City Project Manager Name (Print)
Authorized City Representative (Print)
City Representative Signature

City Representative Signature Date
* Authorized City Representatives include Electric Utility Assistant Director, Chief Electric Utility Operating Officer, Chief Electric Utility Officer

□
□
□
□
Agreement with KSB, Inc./Exhibit E – Sample Work Authorization Page 43 of 44 Rev. 07-01-18
PART B: SERVICES TO BE PERFORMED

10. REVISED WORK AUTHORIZATION
No
If yes, provide a brief description of the change(s).

11. SCOPE O

F SERVICES TO BE PERFORMED
The Contractor shall perform the service(s) described below in accordance with all of the terms and conditions of the Agreement. (Insert a detailed scope of work below or attach as a separate file.) Scope of Services and cost proposal shall meet all of the provisions of Section 8 of Exhibit A and Section 2 of Exhibit B.

12. COMPENSATION
a. Basis of Compensation: Time & Materials Fixed Fee b. Reimbursable Expenses:

No expenses are reimbursable.

Expenses are separately reimbursable in the maximum amount of:

c. Paymen
t Schedule:

Monthly Completion of Deliverable/Milestone Completion of Work d. Payment Terms. Provide payment terms below or attach as a separate file. *P
ayment for on-site labor may not be paid in advance. On-site labor shall not be invoiced until completed and Customer will not make payment until certified payroll is approved.

13. LIQUIDATED DAMAGES

Liquidated Damages do not apply.

Liquidated Damages apply as follows:

□
□
□
□
□
□
□ □
□ □
□
Agreement with KSB, Inc./Exhibit E – Sample Work Authorization Page 44 of 44 Rev. 07-01-18
It is mutually agreed by Contractor and City that, in event completion of the Services to be provided by the Contractor under this Agreement is delayed beyond ___________________, 20___, City will suffer
damages and will incur other costs and expenses of a nature and amount which is difficult or impractical to determine. The Parties agree that by way of ascertaining and fixing the amount of damages, costs and expenses, and not by way of penalty, Contractor shall pay to City the sum of __________________________________dollars ($____________) per day in liquidated damages to a cap of _________. Contractor agrees that City may deduct the amount of said unpaid damages from any money due or that may become due to Contractor under this Agreement.

Notwithstanding the foregoing both Parties understand and agree that no liquidated damages shall accrue for delivery delays due to any modification of the work scope, for delays caused by or attributable to the City, for delays caused by or attributable to third parties not under the direct control of Contractor or any force majeure event during the period of service of this Work Authorization.

Such liquidated damages shall be the City's sole and exclusive remedy for Contractor’s failure to meet the agreed delivery schedule.

14. ACCEPTANCE CERTIFICATE

Acceptance Certificate not required.

Acceptance Certificate required.

□
□

BLUE ROUTE SHEET - CITY MANAGER REVIEW/APPROVAL REQUIRED Originating
Department (OD):

Date
_E_le_ctr_ic _____ _ Submitted: 7/18/2023 Return To: Ahcomb H. Phone Ext.: 2733 --- -- OD: FILL OUT SECTIONS #1-#7 (FRONT) AND #1-#4 {BACK) BEFORE ROUTING (1) Document: Koffler Electrical Mechanical Apparatus Repair, Inc. - Agreement for Services [NAME OF DOCUMENT AND CONTRACTOR/OTHER PARTY]
(2) Indicate signature authority:
~ Service Agreements with a total taxable value of $250,000 or less (exclusive of taxes and shipping) over a five-year period per Ordinance 2050 (CC Action - August 30, 2022) □ Miscellaneous Agreements including those that allow the use of the City name; rental agreements for City-owned property; licensing or conditional use agreements; confidentiality agreements; nondisclosure agreements; and partnership, cost sharing, in-kind and service agreements with other public or private entities per Resolution 6603 (CC Action - July 13, 1999)
□ Certificate of Acceptance for Designated Property Interests per Resolution 5600 (CC Action - May 28, 1991) □ Routine Police Agreements including the use of City facilities; off-duty officers; special events; hold harmless and indemnification agreements from third parties; and releases ofliability per Resolution 6000 (CC Action - April 4, 1995) □ Other :
(3) Cost impact: $250,000 --------- --- - --- - - --- ---- ------ - -------- ( 4) Was this service budgeted for this fiscal year?
~ Yes
□ No. Ifno, please describe below how the department will fund this unbudgeted service and consult with department's assigned budget analyst to ensure that there is sufficient funding. (5) Is insurance compliant?
~ Yes, per attached EBIX printout. (Disregard #8)
□ No, this agreement requires Risk Management review. (Complete #8) □ NIA (i.e. Hold Hannless Agreements, Grant Funding, Indemnification language in lieu of insurance, etc.) (Disregard #8) (6) Is Notary needed?
(7)
□ Yes (Please tag Notary page)
181 No
Department head originating agreement:
(8) RISK MANAGEMENT
Manuel Pineda (Jul 18. 2023 18:27 PDTI
Please describe why contract does not require EBIX approval: __ Approved:
(9)
(JO) CITY CLERK'S OFFICE
[SIGNATURE]
Attached: - -~;)."---"----- original(s) ______ copy(ies) 'D ..-''t' f\A, l -b dept· _J__ Transmit the attached original / copy to contractor _J __ Fully executed original on file in City Clerk's Office Date Processed by Clerk's Office: __ ,-_/_~_'f~/_Z._} __ 4M)~-- Page I of2
(1)

CITY MANAGER REQUIRED INFORMATION
Scope of Services: [BRIEFLY SUM1V1ARIZE Tiffi SCOPE OF WORK/PURPOSE OF DOCUMENT] Contractor shall provide comprehensive motor and pump maintenance and repair services for Silicon Valley Power (SVP) that include but are not limited to perfonning inspections on various types and sizes of motors and pumps, lt"epair and replacement of motors and pumps, performing alignments of pumps, motors, rotating equipment and gearboxes, and provide parts as requested by SVP.
(2) Term of Agreement: _A_u-gu_s_t_8~, 2_0_2_3_t_o_Ju_l~y_3_1~, 2_0_2_9 _______ _ ____________ _ (3)
[START DATE AND END DATE OF THE AGREEMENT/DOCUMENT]
VENDOR SELECTION INFORMATION: (Please reference the Procurement Guide on the City's Intranet Site.) Indicate Procurement Process:
□ Sole/Single Source (Please include justification memo with this form) □ Purchase from other public agency or utilization of other public agency competitive process (Specify other agency competitive process or pre-negotiated contract, if applicable): _ _ □ Selection Process : Infonnal Request for Quotes with an estimated total taxable value greater than $15,000 and less than or equal to $100,000 (exclusive of taxes and shipping) over a five-year period, inclusive of any options to extend the agreement during the five-year period.
□ Selection Process: Informal Request for Quotes with an estimated total taxable value greater than $100,000 and less than or equal to $250,000 (exclusive of taxes and shipping) over a five-year period, inclusive of any options to extend the agreement during the five-year period.
~ Selection Process: Formal Request for Proposals (RFP)/Statement of Qualifications (SOQ), or Request for Bids (RFB) with an estimated total taxable value of greater than $250,000 ( exclusive of taxes and shipping) over a five­ year period, inclusive of any options to extend the agreement during the five-year period . □ Other (Specify): __ .
0 This contract requires prevailing wage compliance and registration with Department of Industrial Relations. If this ~ox is checked, attach proof of DIR registration.
~endor Outreach Process: □ Telephone □ Email ~ Bid Notification System D Other: _ _ Briefly summarize the number of bids received and the basis for recommending this vendor for contract award:

Pursuant to City Code Section 2.105 .140( c ), a fonnal Request for Proposals (RFP) was conducted, with the award ~ecommendation based on "best value ." The Motor and Pump Services RFP was published on the City's e­ procurement system . The City received four (4) proposals. The proposals were independently evaluated by a three­ member evaluation panel against the criteria and weights published in the RFP. The evaluation panel determined Koffler's proposals met the requirements of the RFP. Therefore, the evaluation panel recommends entering into an agreement with Koffler to provide the services.
(4) HISTORY:

Has the department retained the same contractor for similar services in last 5 years? D No. If no, no further infonnation required.
~ Yes. If yes, please complete the following section.

Term of Agreement: February 13, 2018 - June 30, 2023
Contract Amount: $ 750,000 -~- ----- - - - ---- - --------------- - -