[00:00:02]
[Roll Call]
MORNING EVERYONE.WELCOME TO THE, UM, BOARD FINANCE COMMITTEE MEETING OF THE EAST BAY REGIONAL PARK DISTRICT, AND WE HAVE AN ECHO
MADAM CLERK, CAN YOU RE DO PLEASE DO THE ROLL CALL, PLEASE? SURE.
UM, THIS IS CONNIE SWISHER, RECORDING SECRETARY, TAKING ROLL CALL BOARD.
I, AND, UH, JUST WANNA LET EVERYONE KNOW THAT DIRECTOR CORBETT IS, UM, JOINING US REMOTELY AND SHE IS ILL.
AND, UM, DIRECTOR CORBETT, UH, I NEED TO ASK YOU A COUPLE OF QUESTIONS FOR THE, FOR THE BROWN ACT.
UH, ARE THERE ANY INDIVIDUALS 18 YEARS OF AGE WHO ARE, WHO ARE, OR WILL BE PRESENT IN THE ROOM AT YOUR LOCATION? NO.
I'M GLAD YOU COULD JOIN US REMOTELY.
MY VOICE WILL NOT BE WORKING WELL.
SO, AND THEN, UH, CONNIE, CAN YOU PLEASE LET THE PEOPLE KNOW HOW THEY CAN, UH, PARTICIPATE IN THE MEETING TODAY? SURE WILL.
UM, THIS MEETING IS BEING HELD PURSUANT TO THE BROWN ACT.
WE ARE PROVIDING LIVE VIDEO AND AUDIO STREAMING.
MEMBERS OF THE PUBLIC WISHING TO MAKE A COMMENT CAN DO SO.
ONE OF THE FOLLOWING WAVES LIVE IN PERSON OR VIA THIS ZOOM MEETING BY SUBMITTING AN EMAIL OR LEAVING A VOICEMAIL.
ALL THIS INFORMATION IS NOTED ON THE AGENDA LOCATED AT THE PARK DISTRICT DISTRICT'S WEBSITE, EB PARKS.ORG.
IF THERE ARE NO OTHER QUESTIONS ABOUT THE MEETING PROCEDURES, WE CAN BEGIN.
AND THEN, UM, FIRST ON OUR LIST IS, UH,
[Approval of Minutes]
APPROVAL OF THE MINUTES.HOPEFULLY YOU'VE HAD A CHANCE OPPORTUNITY, AND I WILL ENTERTAIN, UH, A MOTION TO APPROVE MOVE APPROVAL.
AND I SEE A SECOND FROM DIRECTOR CORBETT.
ALL THOSE IN FAVOR, PLEASE SAY, AYE.
AND NOW WE ARE AT, UM, ITEM NUMBER THREE, PUBLIC COMMENTS ON ITEMS NOT ON THE AGENDA.
I'M JUST DOUBLE CHECKING AND I HAVE NO PUBLIC COMMENT AT THIS TIME.
AND NOW WE HAVE A, UM, ITEM NUMBER FOUR FOUR, A GREEN BOND 2022 ANNUAL REPORT.
DEBORAH SPALDING, ASSISTANT FINANCE OFFICER.
[Action Items]
THINGS SLIGHTLY OUT OF ORDER, IF THAT'S ALL RIGHT.UH, AND TAKE OUR BUDGET ITEM FIRST.
UH, WE HAVE A LOT OF, A LOT OF PEOPLE IN THE ROOM WHO WILL, UM, MAYBE BE AVAILABLE TO ANSWER QUESTIONS AND THAT'LL MAKE IT EASIER FOR EVERYONE.
SO WE'RE ON FIVE A OR, UM, I BELIEVE IT'S FIVE A, IS THAT RIGHT? YES.
HOW'S THAT? LOOKING FOR EVERYONE? GOOD.
SO BEFORE I JUMP INTO THE PROPOSED OPERATING AND PROJECT BUDGET FOR 2024, I WANNA THANK THE TEAM THAT PULLED THIS TOGETHER.
UH, FIRST OFF, JAN AND BAYONA, WHO WAS HERE IN THE AUDIENCE, OUR BUDGET MANAGER, THIS WAS HER FIRST YEAR, UH, WORKING ON THE BUDGET.
AND, UH, SHE WAS SIMULTANEOUSLY SERVING AS OUR ACTING AFO, SO WAS A BIG TASK, AND, UH, REALLY APPRECIATE ALL HER WORK.
AND THEN ALSO SHANNON RICE, WHO IS NOT PRESENT TODAY.
UH, SHE STEPPED UP FROM HER EXECUTIVE ASSISTANT ROLE AND HAS BEEN OUR ACTING ADMIN ANALYST TOO FOR THE LAST, UH, SEVERAL MONTHS.
AND THEN, UH, A LOT OF THE PEOPLE HERE IN THE AUDIENCE, UH, MANY PEOPLE WHO ARE MAYBE LISTENING IN OUR BUDGETERS ALSO, UH, PROVIDED A LOT OF HELP TO US GETTING THEIR REQUEST IN ON TIME AND, UM, ANSWERING ANY QUESTIONS WE HAD.
SO I'M GONNA BEGIN BY GIVING YOU AN OVERVIEW OF THE PARK DISTRICT'S BUDGET CYCLE.
UH, UNLIKE MANY AGENCIES, WE HAVE A CALENDAR FISCAL YEAR, SO JANUARY THROUGH DECEMBER.
AND SO DURING THE MONTHS OF, UH, THE SUMMER, WE'RE STARTING TO WORK ON OUR BUDGET.
WE'RE DEVELOPING THE REVENUE EXPECTATIONS FOR THE COMING YEAR.
UM, AND I'LL TALK MORE ABOUT EACH OF THESE LITTLE, UH, BUBBLES AND SOME COMING SLIDES, BUT IT REALLY STARTS DURING THE SUMMER MONTHS.
UH, THEN WE CALCULATE KNOWN BUDGETARY NEEDS.
SO WE'RE BUILDING WHAT WE CALL OUR BASE BUDGET, WHICH IS EVERYTHING THAT WE'RE KIND OF CARRYING FORWARD FROM THE PAST YEARS.
UH, AT THAT SAME TIME, WE'RE COLLECTING BOARD DIVISION AND COMMUNITY INTERESTS.
AND AS YOU KNOW, WE DO THAT THROUGH STUDY SESSIONS AND SURVEYS OF THE PUBLIC AS WELL.
[00:05:01]
UH, ONCE WE HAVE ALL OF THOSE THREE PIECES DIALED IN, THEN WE TURN IT OVER TO THE DIVISIONS AND DEPARTMENTS, AND WE ASK THEM TO MAKE THEIR BUDGET REQUESTS.AND SO THEY DO THAT BY ENTERING INTO OUR FINANCE ENTERPRISE SYSTEM.
THEY ENTER THEIR BUDGET REQUEST, AND THEN THEY HAVE AN OPPORTUNITY TO PRESENT THOSE.
THE AGMS UH, MEET WITH THE GENERAL MANAGER, AND THEY PRESENT THOSE TO THE GENERAL MANAGER REALLY EXPLAINING WHY THEIR PRIORITIES ARE, WHAT THEY ARE AND WHY THEY ASKED FOR CERTAIN AMOUNTS OF MONEY.
SO WE TAKE ALL THAT INFORMATION AND WE PUT IT TOGETHER INTO THE PROPOSED BUDGET.
AND THAT IS WHAT YOU ARE SEEING TODAY.
SO THE PROPOSED BUDGET, UH, FIRST COMES TO THE FINANCE COMMITTEE IN NOVEMBER, AND, UH, THEN IT WILL GET RECOMMENDED, I HOPE, TO THE FULL BOARD FOR, UH, A PUBLIC HEARING AT THE FIRST MEETING IN DECEMBER, AND THEN ADOPTION AT THE SECOND MEETING IN DECEMBER.
AND THEN JANUARY 1ST, WE HAVE A NEW BUDGET, AND FOR THE FIRST SIX MONTHS, WE'RE REALLY JUST REVIEWING HOW, HOW ARE THINGS GOING, OUR REVENUES COMING IN THE WAY WE EXPECTED OUR EXPENDITURES GOING AS WE EXPECTED, AND THEN WE START ALL OVER AGAIN.
UH, AS WE ARE WORKING ON OUR BUDGET, WE ARE ALWAYS KEEPING IN MIND THE PARK DISTRICT'S MISSION STATEMENT, UH, WHICH IS TO PRESERVE A RICH HERITAGE OF NATURAL AND CULTURAL RESOURCES AND PROVIDE OPEN SPACE PARKS, TRAIL SAFE AND HEALTHFUL RECREATION, ENVIRONMENTAL EDUCATION, AND AN ENVIRONMENTAL ETHIC GUIDES THE DISTRICT IN ALL THAT WE DO.
SO NOW DIGGING A LITTLE BIT MORE INTO EACH OF THOSE BUBBLES THAT YOU SAW EARLIER.
SO, UH, WHAT DOES IT MEAN THAT WE'RE LOOKING AT OUR REVENUE EXPECTATIONS FOR THE COMING YEAR? THE MAIN THING THAT WE ARE LOOKING AT, UH, THE FIRST THING THAT WE'RE LOOKING AT IS PROPERTY TAXES.
UM, SO THAT ENDS UP, UH, BEING ABOUT 90% OF OUR GENERAL FUND BUDGET.
ABOUT 80% OF THE DISTRICT'S ENTIRE BUDGET IS, UH, PROPERTY TAXES.
SO WHAT WE HAVE, UH, FROM THE TWO COUNTIES IS THE KNOWN INCREASE FOR THE FIRST HALF OF 2024.
WHAT WE DON'T HAVE IS WHAT'S GONNA HAPPEN IN THE, IN THE FOLLOWING YEAR, IN THE FOLLOWING FISCAL YEAR.
SO THE SECOND HALF OF OUR, OUR FISCAL YEAR, 2024.
UM, SO WE USE A FIRM BEACON ECONOMICS TO HELP US WITH THAT, AND THEY DO A PROJECTION FOR US.
SO TAKING THOSE TWO PIECES OF, OF THE PUZZLE, UH, THE PARK DISTRICT IS EXPECTING A 6% INCREASE IN PROPERTY TAXES IN 2024, UH, OUR NEXT BIGGEST REVENUE SOURCE FEES AND CHARGES, WE GET THAT INFORMATION PRIMARILY FROM OUR OPERATIONS FOLKS.
AND, UH, IT'S IMPORTANT TO NOTE HERE THAT THIS YEAR WE ARE, UM, IMPLEMENTING, UM, A MASTER FEE SCHEDULE REVIEW AND REALLY LOOKING AT ALL OF OUR FEES.
SO WE WERE NOT VERY AGGRESSIVE WITH OUR FEES AND CHARGES PROJECTIONS IN THIS YEAR, REALLY TRYING TO GIVE SPACE FOR THAT TO, TO PLAY OUT.
AND THEN LASTLY, WE LOOK AT OTHER FUNDS.
SO WE HAVE INTERNAL SERVICE FUNDS THAT HAVE REVENUE AND EXPENDITURE NEEDS.
WE HAVE ALL OF OUR SPECIAL REVENUE FUNDS THAT WE'RE PROJECTING, AND THEN DEBT SERVICE, UH, FUNDS.
WHAT, WHAT DO WE NEED TO HAVE AVAILABLE FOR OUR BOND OBLIGATIONS? UH, NEXT UP IS BUILDING OUR BASE BUDGET.
SO, UH, THAT'S, AS I MENTIONED, EVERYTHING CARRIED FORWARD, UH, FROM THE PRIOR YEAR THAT WE KNOW WE NEED TO BUDGET FOR.
SO ALL EXISTING EMPLOYEE COSTS AND WITH KNOWN SALARY AND BENEFIT INCREASES.
SO FOR EXAMPLE, THIS YEAR WE HAD A 10% INCREASE IN KAISER MEDICAL PREMIUMS. SO THAT GETS BUILT INTO THAT BASE BUDGET.
WE ALSO CARRY FORWARD ANY BASE BUDGET INCREASES THAT WERE APPROVED IN PRIOR YEAR, AND WE STRIP OUT THE ONE-TIME REQUESTS FROM THE PRIOR YEAR.
UH, WE MAKE SURE THAT WE'RE BUDGETING FOR DEBT SERVICE AND ANY OTHER OBLIGATIONS.
UM, AND THEN WE THINK ABOUT LONG-TERM COSTS.
SO THINGS THAT MAYBE AREN'T HAPPENING IN 2024, BUT WE KNOW WE NEED TO BE READY FOR IN FUTURE YEARS.
SO, UM, NEW DEBT ISSUANCE IS, UH, AN OBVIOUS ONE FOR SOME OF US.
UM, WE, WE ARE GOING TO BE MOST LIKELY ISSUING NEW DEBT FOR THE, UM, PER ALTA OAKS NORTH BUILDING.
NEW PARK OPENINGS, OTHER LONG-TERM LIABILITIES, REALLY KEEPING THAT IN MIND.
AND, UH, COLLECTING INPUT FROM THE COMMUNITY, FROM OUR BOARD AND FROM OUR AGMS, THAT HAPPENS PRIMARILY THROUGH THE BOARD STUDY SESSIONS, UH, WHICH ARE HELD IN THE LATE SUMMER.
UM, FIRST THE AGMS PRESENT THEIR GOALS AND OBJECTIVES AND TALK ABOUT THEIR CHALLENGES.
AND THEN THE BOARD HAS AN OPPORTUNITY TO TALK ABOUT WHAT THEIR VISION IS FOR THE PARK DISTRICT AS A WHOLE, AND THEN ALSO TALKING ABOUT THEIR NEEDS FOR THEIR PARTICULAR WARDS.
UH, AND THEN COMMUNITY INPUT, WE GATHER IN VARIOUS WAYS.
SO ONCE WE HAVE ALL THAT INFORMATION, THE BUDGET OFFICE PUTS TOGETHER A MEMO THAT GIVES THE DIVISIONS THE FRAMEWORK, UH, FOR WHAT THEY SHOULD BE EXPECTING.
AND SO, UM, IN THIS YEAR, WE LET EVERYONE KNOW THAT IT WAS GOING TO BE A MORE MODERATE BUDGET YEAR.
SO THE LAST COUPLE YEARS HAVE BEEN REALLY, UH, ROBUST.
WE HAD A LOT OF, UM, NEW PROPERTY TAX REVENUE WE WERE ABLE TO ALLOCATE.
[00:10:01]
WAS, UH, YEAH, WE WANTED EVERYONE TO HAVE, UM, EXPECTATIONS THAT WERE REASONABLE.SO WE LET PEOPLE KNOW THAT IN THE BUDGET MEMO, AND THEN THE STAFF ENTER THEIR BUDGET REQUESTS, AND THEN THAT INFORMATION GETS PRESENTED TO THE GENERAL MANAGER.
AND FROM THAT, WE CREATE THE PROPOSED BUDGET.
SO THE GENERAL MANAGER WORKS WITH THE BUDGET OFFICE TO FIGURE OUT WHAT CAN AND WHAT SHOULD BE INCLUDED IN THE PROPOSED BUDGET.
AND THEN IT'S TIME FOR THE BUDGET TEAM TO GET TOGETHER, PUT IT ALL TOGETHER INTO THESE TWO BOOKS, AND WE BRING IT TO THE FINANCE COMMITTEE FOR YOU TO REVIEW IN NOVEMBER, WHICH IS WHERE WE ARE TODAY.
UH, AND THEN IT'LL GO TO THE FULL BOARD TWICE IN DECEMBER, FIRST FOR A PUBLIC HEARING ON DECEMBER 5TH, AND THEN AGAIN DECEMBER 19TH FOR ADOPTION.
AND THEN JANUARY 1ST, EVERYONE HAS THEIR NEW BUDGET LOADED AND THEY'RE READY TO GO.
AS WE ARE MAKING OUR BUDGET DECISIONS, WE'RE ALWAYS KEEPING THESE PRINCIPLES IN MIND.
UM, NUMBER ONE IS THAT WE WANNA HAVE A FINANCIALLY SUSTAINABLE ORGANIZATION, NOT JUST FOR THE COMING YEAR, BUT FOR FOREVER.
UM, WE'VE MADE IT THROUGH ALMOST 90 YEARS.
WE WANNA BE HERE FOR, YOU KNOW, ANOTHER A HUNDRED, UM, OR MORE.
UM, WE WANNA PURSUE OUR MISSION TO RESTORE, PRESERVE, AND PROTECT SCENIC, NATURAL AND CULTURAL RESOURCES IN A CHANGING CLIMATE.
SO IT'S, IT'S MORE THAN JUST, UM, RESTORE, PRESERVE, PROTECT.
WE NEED TO HAVE, BE MINDFUL OF, UH, THE CHANGING ENVIRONMENT.
UH, WE WANNA PROTECT OUR EMPLOYEES, UH, NOT ONLY THEIR CURRENT WELLBEING, UH, BUT ALSO INVESTING IN THEIR FUTURE RETIREMENT.
UH, WE ALWAYS NEED TO ADDRESS ANY LEGAL AND REGULATORY MANDATES AS PART OF OUR BUDGET.
UH, WE WANNA INVEST IN PROGRAMS AND PROJECTS THAT WE WILL HELP US, UH, ACHIEVE OUR VISION.
AND THEN LASTLY, BUT NOT, UH, NOT LEAST, PRESERVING OUR EXISTING CAPITAL INVESTMENTS.
SO EMPHASIZING FUNDING FOR MAINTAINING WHAT WE ALREADY HAVE.
THOSE ARE OUR BUDGET BALANCING PRINCIPLES.
AND NOW GETTING INTO THE INPUT THAT WE RECEIVED FROM OUR COMMUNITY SURVEY.
UH, SO THIS WAS CONDUCTED BY OUR LEGISLATIVE TEAM.
AND, UM, THE SURVEY RESULTS THAT THEY RECEIVED REALLY FOCUSED ON THESE TOPICS, IMPROVING EQUITABLE ACCESS TO THE PARKS.
UM, AND SO EMPHASIS ON THE, THE EQUITY THERE, MAKING SURE EVERYONE IS ABLE TO, TO VISIT OUR PARKS.
A PERCEPTION OF SAFETY IN PARKS, UH, WAS EMPHASIZED IN THE SURVEY.
AND THEN LASTLY, WE HEARD A LOT ABOUT INCREASING ACCESS TO PARKS AND TRAILS, SO MAKING IT POSSIBLE FOR EVERYONE TO, UM, TO ACCESS OUR PARK LANDS.
AND THEN HERE ARE JUST A FEW HIGHLIGHTS THAT CAME OUT OF THE BOARD STUDY SESSIONS.
SO THERE, THERE WERE MANY, BUT THESE WERE AREAS WHERE WE FELT THERE WAS, UM, EVERYONE WAS ON THE SAME PAGE OF WHAT WAS IMPORTANT.
SO MAINTAINING AND IMPROVING EXISTING INFRASTRUCTURE, UM, PARTICULARLY IN THE FACE OF GLOBAL WARMING AND CLIMATE CHANGE.
A RENEWED COMMITMENT TO TRAIL DEVELOPMENT WAS SOMETHING THAT WE HEARD, UM, ACROSS THE BOARD.
UH, EMPHASIS ON CULTURAL AND ENVIRONMENTAL RESOURCE CONSERVATION, UM, CONTINUING THE PARK DISTRICT'S EFFORTS THAT WE'VE HAD FOR MANY YEARS, UH, TOWARDS FUEL SUPPRESSION AND WILDFIRE PREVENTION.
AND LASTLY, EXPANDING PUBLIC ACCESS TO NATURE FOR ALL.
AND SO I'VE UNDERLINED, UM, KIND OF THE KEY WORDS HERE.
AND THEN ON THE NEXT FEW SLIDES, I'M TALKING ABOUT SOME OF THE PROJECTS OR PROGRAMS THAT ARE MOVING FORWARD IN THIS YEAR THAT, UH, WE BELIEVE ARE RESPONSIVE TO THOSE, TO THOSE NEEDS.
SO FOR INFRASTRUCTURE MAINTENANCE, UM, ONE SIGNIFICANT CHANGE IS WE'VE SET UP A NEW PROJECT THAT IS INTENDED FOR EMERGENCY REPAIRS.
UH, SO IN THIS PAST YEAR, WE HAD THE, THE BIG WINTER STORMS THAT HAPPENED REALLY AT THE END OF 2022, BEGINNING OF 2023.
AND SO A LOT OF WORK PRIORITIES HAD TO SHIFT BECAUSE SUDDENLY THERE WERE ALL THESE REPAIRS THAT WERE NEEDED.
AND SO WE'RE SETTING ASIDE MONEY.
WE EXPECT THAT THIS IS NOT A ONE-TIME OCCURRENCE, IT'S GONNA KEEP HAPPENING.
SO SETTING ASIDE FUNDS SO THAT WE'RE ABLE TO BE RESPONSIVE VERY QUICKLY WHEN THAT HAPPENS.
ADDITIONALLY, SETTING ASIDE A MILLION DOLLARS FOR SWIMMING FACILITY REPAIRS, UH, WE HAVE A FEW FACILITIES THAT WE KNOW ARE GOING TO BE NEEDING, UM, SOME WORK.
WE'RE NOT SURE WHICH ONES WILL COME FORWARD IN WHICH ORDER.
SO JUST HAVING THAT MONEY, UH, AVAILABLE SO THAT WHEN IT'S, WHEN IT'S TIME TO DO THE WORK, WE HAVE THE FUNDS READY.
UM, A PROJECT THAT CAME TO OUR ATTENTION THIS YEAR THAT'S, UH, INFRASTRUCTURE MAINTENANCE IS THE LAKE ANZA DAM AND NEEDS A MILLION DOLLARS FOR A REPAIR.
UM, 300,000 IS BEING SET ASIDE FOR CULVERT REPLACEMENT DISTRICT-WIDE.
IT'S SOMETHING THAT'S BEEN, AGAIN, AS STORMS ARE HAPPENING, MORE INCREASINGLY AWARE THAT OUR CULVERTS NEED MAINTENANCE.
AND THEN, UH, OPERATIONS HAS REQUESTED 360,000 TO REPLACE THE FLOORING AT ALL OF THEIR RESERVABLE FACILITIES, WHICH WILL MAKE THEM MORE, UH, MORE ATTRACTIVE, MORE RENTABLE.
UM, HOW WOULD YOU LIKE TO, UH, WOULD YOU LIKE US TO ASK QUESTIONS AS YOU'RE GIVING YOUR PRESENTATION? OR
[00:15:01]
WOULD YOU LIKE US TO WAIT TILL THE END? UM, I'M THINKING AS WE GO.UM, IT IS NOT COMING OUT OF RESERVES.
UM, AND, YOU KNOW, IT'S, YEAH.
SO, SO WE ARE USING FUND BALANCE.
I'LL, I'LL NOTE THAT A LITTLE BIT LATER.
WE ARE USING FUND BALANCE, BUT WE'RE NOT TAKING IT OUT OF OUR RESERVES.
SO WE'RE MAINTAINING OUR RESERVES.
AND THEN ALSO, UM, REGARDING THE, UH, THE $300,000 FOR A CULVERT REPLACEMENT, MY QUESTION IS, IS THAT ENOUGH? YEAH.
HOW MUCH IS TO MY OPERATIONS LIFELINE? IT'S ALL DIFFERENT.
UM, I SUSPECT THAT THAT'S NOT ALL THAT'S NEEDED, BUT THAT WAS, UM, IT'S A START.
I THINK MORE TO COME ON A LOT OF THESE WHERE THIS IS SOMETHING THAT'S, UH, GETTING, GETTING STARTED THIS YEAR.
THAT'S ALL MY, UH, JOHN, DO YOU HAVE ANY QUESTIONS? NOT YET.
DIRECTOR CORBETT, DO YOU HAVE ANY QUESTIONS? HEARING NONE, PLEASE CONTINUE.
OH, CAN YOU HEAR ME? YES, I DO.
SO, ON THESE ITEMS WHERE WE HAVE, UM, WE'RE SETTING ASIDE FUNDING IN ADVANCE, YOU KNOW, KNOWING THAT THAT'S SOMETHING THAT'S NEEDED, UM, WOULD WE HAVE TO HAVE SOME SORT OF STATEMENT OR AN ANNOUNCEMENT OF WHAT WE WERE SPENDING MONEY ON IF ALL OF THE SUDDEN WE HAD TO SPEND ON A PROJECT BECAUSE OF AN EMERGENCY? YES.
DO YOU KNOW WHAT WHAT I MEAN BY THAT? YEAH, I KNOW WHAT YOU'RE ASKING.
SO, UM, ANY, UH, ANY, UH, ALLOCATION OF FUNDS ABOVE $50,000 WOULD COME TO THE BOARD FOR APPROVAL.
SO IT COULD BE FUNDING THAT WE HAVE APPROVED IN ADVANCE.
SO WE HAVE IT, WE HAVE IT SET ASIDE AND IT'S AVAILABLE AND, AND YEAH.
AND THEN WE'LL LET, BUT THEN WE'LL STILL BE ABLE TO LET PUBLIC KNOW CORRECT.
WHAT SPECIFICALLY, WE'RE NOW TAKING THAT MONEY WE'VE SET ASIDE IN CASE OF A NEED.
THAT'S A, A REALLY GOOD WAY TO DO THINGS.
SO I ACTUALLY HAVE A, A QUESTION ON THAT ONE.
UM, SO THE, I'M ASSUMING THAT THE CULVERT REPLACEMENTS WOULD BE FEMA ELIGIBLE, SO WE, WE MAY BE SPENDING OUR MONEY FOR THAT, BUT IT'S HAS THE POTENTIAL AT LEAST TO BE REIMBURSED IN THE FUTURE, SOMETIMES THE DISTANT FUTURE.
BUT IS THAT TRUE? YES, THAT IS TRUE.
AND IN ADDITION, FEMA REQUIRES, I BELIEVE IT'S A 25% MATCH.
AND SO IT, IT MAY BE THAT WE WOULD HAVE TO SET THESE FUNDS INTO THE PROJECT ANYWAY.
UM, SO AGAIN, NOW WE HAVE IT SET ASIDE.
IT'S, IT'S LOCKED UP AND IT'S READY.
SO WHEN THE, WHEN THE PROJECT IS READY, THE MONEY IS AVAILABLE.
SO THE NEXT LIST IS PROJECTS THAT ARE RELATED TO TRAIL DEVELOPMENT.
UH, 300,000 IS BEING SET ASIDE FOR THE NEW, UH, BIKE FLOW TRAIL AT WILDCAT CANYON.
UH, 370,000 IS BEING ALLOCATED TO THE, UH, SAN FRANCISCO BAY TRAIL DOOLITTLE DRIVE SECTION A HUNDRED THOUSAND IS BEING ALLOCATED FOR PERMITTING WORK TO BEGIN.
UM, AND IT'S AT THE KOKER, UH, CREEK AREA THAT THEY'RE GOING TO BE, UM, UH, WORKING ON PUTTING SOME NEW TRAILS IN A HUNDRED THOUSAND DOLLARS FOR THE CONTINUED WORK ON THE DEER VALLEY STAGING AREA AND TRAILS.
AND THEN 50,000 TO BEGIN WORK ON THE PRESERVE MANAGEMENT PLAN AT CLAYTON RANCH.
WE'RE BUDGETING THESE, THESE, THESE FUNDS FOR THE, FOR THESE TRAIL PROJECTS, BUT THAT DOESN'T MEAN THAT THERE'S NOT GOING TO BE ANY DIS UH, ANY, IT'S NOT GONNA CUT OFF FUTURE DISCOURSE AS TO, UH, THE DISPOSITION OF THOSE TRAILS.
I MEAN, AS FAR AS PUBLIC OR BOARD COMMENTS OR, UM, SO WE'RE JUST SETTING ASIDE THE MONEY, JUST YES.
AGAIN, JUST SETTING ASIDE THE MONEY, IT'LL STILL FOLLOW ALL THE PRACTICES AND PROCESSES THAT YOU'RE USED TO.
ALRIGHT, THE NEXT LIST IS ABOUT CULTURAL RESOURCES, CONSERVATION AND ENVIRONMENTAL CONSERVATION.
[00:20:01]
UM, SO A NEW UNIT IS PROPOSED, UH, IN THE PLANNING DEPARTMENT FOR CULTURAL RESOURCES.AND A NEW PRINCIPAL PLANNER POSITION IS PROPOSED, UM, IN ADDITION 75,000 TO ASSIST WITH TRIBAL ACCESS TO SITES AND, AND ALSO TRIBAL CONSULTATION.
UH, 1.3 MILLION IS BEING ALLOCATED TOWARDS ENVIRONMENTAL RESTORATION AT COYOTE HILLS, UH, FOR THAT EXISTING PROJECT, UM, UH, 600,000 FOR VEGETATION MANAGEMENT AND MONITORING AT THE KER PROJECT.
NOW THAT THAT PROJECT IS COMPLETE, WE NEED TO DO ONGOING, UM, VEGETATION MANAGEMENT THERE, 600,000 FOR ENVIRONMENTAL RESTORATION WORK, DISTRICTWIDE, THERE ARE MANY PROJECTS, UM, THAT ARE PROPOSED TO BE USED, UH, FOR THAT MONEY TO BE USED FOR, AND THEN A HUNDRED THOUSAND FOR MAINTAINING OUR GRAZING PONDS.
AND AGAIN, THERE'S A LONG LIST OF GRAZING PONDS THAT NEED, THAT NEED TO, UM, HAVE REPAIR WORK DONE AND MAINTENANCE WORK DONE.
UH, NEXT, UH, NEXT LIST IS FUELS MANAGEMENT PROJECTS.
SO THAT'S YOUR, I, I, I HAVE A QUESTION.
UM, I'M ASSUMING, BUT IF YOU COULD HELP ME UNDERSTAND, DO, DOES THIS FUNDING, IS IT ALSO AVAILABLE IF WE HAVE A, SOMETIMES WE DON'T HAVE THE ENTIRE, UM, AREA, BUT WE, UH, ARE IN CHARGE OF TAKING CARE OF A TRAIL IN THE MIDST OF LAND THAT'S ACTUALLY SOMEONE ELSE'S LAND, BUT WE HAVE THE PERMISSION TO DEAL WITH THE TRAIL GOING THROUGH THIS LAND.
IS THE FUNDING WE'RE TALKING ABOUT, IS THAT USABLE FOR A TRAIL THAT'S WITHIN, UM, ANOTHER PROPERTY OWNER'S LAND? THAT IS A PRETTY SPECIFIC QUESTION.
I'M LOOKING AT LEGAL AND I'M, I'M SEEING A YES.
UM, SO I, I, I BELIEVE THOSE FUNDS WOULD BE AVAILABLE, YES.
ALL MOVING ON TO FUELS MANAGEMENT.
UM, THIS YEAR, 2.4 MILLION IS ALLOCATED FOR, UH, FROM THE GENERAL FUND FOR CONTINUED FUELS MANAGEMENT WORK.
AND, UM, THAT'S A, UH, SO WE HAVE BEEN, UH, ALLOCATING AN ADDITIONAL A HUNDRED THOUSAND DOLLARS EVERY YEAR.
UM, THIS YEAR WE PUT IN, IN ANOTHER MILLION DOLLARS ON TOP OF IT, WHAT WOULD'VE BEEN NORMALLY 1.4 MILLION.
AND THAT'S TO ALLOW THEM TO COMPLETE SOME REALLY HIGH PRIORITY PROJECTS THAT THEY HAVE UNDERWAY, UM, THAT THEY REALLY WANTED TO MAKE SURE THEY WERE ABLE TO CONTINUE THE PROGRESS THAT THEY'RE MAKING.
AND THEN 670,000 FROM MEASURE FF, UM, FOR, UH, THE SAFE AND HEALTHY FOREST WORK AND FOR STEWARDSHIP, UH, WORK AS WELL, THAT'S RELATED TO FUELS MANAGEMENT.
AND THEN THE LAST HIGHLIGHTED AREA IS EXPANDING PUBLIC ACCESS.
SO WE'RE ALLOCATING 3 MILLION FOR THE TIDEWATER DAY USE AREA PROJECT AT MLK SHORELINE.
UM, UH, ADDITIONAL PROJECT AT MLK SHORELINE IS THE DECK AND PICNIC AREA PROJECT.
UH, 700,000 FOR THE MCKAY AVENUE UTILITY UPGRADE PROJECT.
UH, A PROJECT AT ANTHONY CHABOT'S PUMA POINT CAMPGROUND TO, UH, REPLACE THE EXISTING, UH, RESTROOMS AT THE FLUSH, RESTROOM AND SHOWERS.
AND THEN LASTLY, 500,000 FOR DESIGN AND CONSTRUCTION DRAWINGS TO, UH, GET UNDERWAY FOR THE TILDEN EEC.
SO NOW'S, UH, A CHANCE FOR YOU TO HEAR A LITTLE BIT MORE ABOUT THE DIVISION'S PRIORITIES FOR THE COMING YEAR.
AND SO, UH, THEY PUT FORWARD IN THE BUDGET SOME OF THE GOALS AND OBJECTIVES THAT THEY HAD IN MIND.
AND, UH, JUST, JUST TO HIGHLIGHT SOME OF THE WORK THAT'S GOING TO BE DONE.
SO FOR DESIGN FOR ASD, THE DESIGN AND CONSTRUCTION DIVISION IS WORKING ON THE CONTRAL LOMA REGIONAL RECREATION AREA.
UM, IN THE PLANNING DEPARTMENT, THEY ARE GOING TO BE FORMALLY OPENING THE KER PROPERTY, UM, IN SIBLEY.
AND THE STEWARDSHIP TEAM IS WORKING ON RENEWING AND EXTENDING ROUTINE MAINTENANCE PERMITS, AND THAT'LL HELP STREAMLINE THE PROCESS FOR ROUTINE MAINTENANCE PROJECTS.
MOVING ON TO FMS, UH, INFORMATION SERVICES RECEIVED, UH, LARGE ALLOCATION OF FUNDING OVER 650,000 THIS YEAR TO BEGIN IMPLEMENTATION OF THAT FIVE YEAR STRATEGIC INFORMATION TECHNOLOGY PLAN.
UH, IN ADDITION, THEY'LL BE WORKING ON ENHANCING NETWORK CONNECTIVITY AND SECURITY, UH, FOR REMOTE PARK LOCATIONS.
IN PARTICULAR, IN FINANCE, ONE OF OUR MAJOR PROJECTS IS ASSISTING WITH TRANSITIONING TO OUR NEW, NEW DEFERRED COMP PLAN ADMINISTRATOR.
AND THEN OFFICE SERVICES THIS YEAR HAS BRAVELY OFFERED TO TAKE ON CENTRALIZED MANAGEMENT OF UTILITIES DISTRICT-WIDE.
UH, SO GAS, WATER, ELECTRIC, AND GARBAGE.
[00:25:01]
SO I DON'T UNDERSTAND ANYTHING ABOUT WHAT THAT POSSIBLY COULD EVEN BE.
SO I WAS WONDERING IF MAYBE SOMEBODY COULD, COULD, UM, TALK ABOUT ONE OR TWO OF THE BIGGEST, MOST IMPORTANT, LET'S JUST GO HIGH LEVEL HERE, THINGS THAT MIGHT BE ADDRESSED IN THAT PLAN.
'CAUSE $650,000, I'M JUST THINKING ABOUT HOW MUCH TRAIL YOU COULD BUILD WITH THAT, RIGHT.
IS, IS THERE, IS THERE ANY WAY TO, UM, AT THIS POINT IN TIME, I, IT'S OKAY IF THERE ISN'T, BUT WHAT WOULD BE THE, THE ONE OR TWO REALLY BIG THINGS THAT WOULD BE ADDRESSED IN THAT? I, I, I AM WISHING OUR IS CHIEF, WERE HERE, BUT SINCE HE'S NOT, UM, TWO THAT I KNOW ABOUT THAT ARE, THAT ARE VERY IMPORTANT FOR FINANCE.
UM, ONE IS OUR ERP SYSTEM, OR, UH, ERP IS A FANCY NAME, ENTERPRISE RESOURCE PLANNING.
SO IT'S BASICALLY OUR FINANCE SYSTEM, WHICH ALSO, IT'S CALLED ENTERPRISE BECAUSE IT ALSO HAS HR, IT ALSO HAS PROJECTS, IT ALSO HAS BUDGETING.
UM, SO IT'S THE WHOLE ENTERPRISE IS, IS REALLY WITHIN THIS ONE, OUR FINANCE, UH, ENTERPRISE PROGRAM.
AND, UM, SO WE HAD THIS OUTSIDE FIRM COME AND LOOK AT WHAT CAPACITY WE HAVE AND WHAT OUR LIMITATIONS ARE, AND THEY SAID, YOU GUYS SHOULD REALLY DO AN RFP AND TAKE A LOOK AT WHAT SYSTEMS ARE OUT THERE.
UH, SO NEXT YEAR, ONE OF, ONE OF THE THINGS THAT'LL BE DONE THROUGH THIS IS STRATEGIC PLAN IS BEGINNING THE RFP PROCESS FOR GETTING A WHOLE NEW FINANCE SYSTEM, ERP SYSTEM.
UM, AND THEN ANOTHER ONE THAT I HEAR A LOT ABOUT, AND THAT IS ALSO VERY IMPORTANT TO FINANCE IS CYBERSECURITY.
UM, I, I KNOW OUR IS TEAM DOES A, A VERY GOOD JOB AT MANAGING AND CONTROLLING, UM, WHAT'S TRYING TO GET INTO OUR SYSTEM, BUT IT'S A HUGE RISK.
I MEAN, YOU HEAR ABOUT IT IN THE NEWSPAPERS EVERY DAY, THAT LIKE, VARIOUS SYSTEMS GET HACKED, THE ENTIRE FINANCE SYSTEM GOES DOWN.
THEY CAN'T, YOU KNOW, STRUGGLING TO GET PAYROLL OUT.
UM, SO CYBERSECURITY IS ANOTHER AREA THAT'S GONNA BE WORKED ON IN THE COMING YEAR.
SO THOSE ARE TWO AND, AND IS, PROJECTS ARE NOTORIOUSLY EXPENSIVE.
I ACTUALLY DO UNDERSTAND BOTH OF THOSE.
I MEAN, THAT'S LIFE AND DEATH FOR US KIND OF THING.
OUR HR DIVISION, UH, HAS MANY IMPORTANT OBJECTIVES.
SO JUST A FEW THAT I PULLED THROUGH, UM, THEY'RE OFFERING THEIR SUPERVISOR ACADEMY.
UM, IT WAS ABLE TO DO, UH, I THINK A SIMILAR, UH, TRAINING THEY DID FOR MANAGERS.
AND SO THEY'RE NOW GONNA BE ROLLING US OUT FOR SUPERVISORS IN THE COMING YEAR.
UM, THEY'RE ALSO GOING TO BE PULLING TOGETHER AN ELECTRONIC TRAINING CATALOG THAT'LL HAVE ALL THE DETAILS ABOUT THE CLASSES THEY OFFER IN ONE CENTRALIZED PLA PLACE, MAKING IT EASIER FOR PEOPLE TO, TO PICK TRAININGS THAT ARE IMPORTANT FOR THEM.
AND THEN, UH, COLLABORATING WITH LEGAL TO, UH, MAKE OUR CONTRACTING, UH, PROCESS, UH, ESPECIALLY THE INSURANCE REVIEW PROCESS, A LITTLE MORE STREAMLINED.
AND THE OPERATIONS DIVISION HERE ARE SOME OF THEIR HIGHLIGHTED, UH, OBJECTIVES.
SO ADDRESSING MANDATORY AND REGULATORY ITEMS THAT HAVE BEEN COMING UP IN THE PAST YEAR, THEY'RE GONNA PRIORITIZE THOSE.
UM, A LOT OF POSITIONS THAT WERE ADDED IN THE PRIOR YEARS BUDGET, THERE WERE, UH, 40 FTE THAT WERE ADDED LAST YEAR.
SO THEY'RE, UH, NOW ABLE TO SUPPORT THEM WITH VEHICLES AND THE EQUIPMENT THAT'S NECESSARY.
UM, ADDING STAFFING FOR, UM, PUBLIC ACCESS, UH, AS IDENTIFIED IN THE PIPELINE, UM, ADDING TARGETED STAFF AND EQUIPMENT TO UNLOCK KEY SERVICE DELIVERY.
AND THEN CONTINUING TO RIGHT SIZE THE EQUIPMENT.
SO IT'S SOMETHING THAT WE'VE BEEN WORKING ON FOR SEVERAL YEARS, IS, UH, MAKING SURE WE HAVE THE EQUIPMENT THAT'LL, THAT'LL GET THE JOB DONE IN THE MOST EFFICIENT WAY.
UM, AND, AND INITIATING A RESOURCE ALLOCATION STUDY OF PARK OPERATIONS.
SO WHAT DOES IT TAKE TO OPERATE EACH PARK, UH, IN THE PUBLIC AFFAIRS AREA? THE OBJECTIVES THEY HAVE, UH, NUMBER ONE IS THE, UM, CELEBRATION OF THE PARK DISTRICT'S 90TH ANNIVERSARY AND THE REGIONAL PARKS FOUNDATION'S 55TH ANNIVERSARY.
UH, I KNOW THOSE ARE GOING TO BE VERY BIG CELEBRATIONS.
UH, THEY'RE ALSO WORKING ON, UH, EXPLORING HOW TO UPDATE AND IMPROVE THE PARK DISTRICT SIGNAGE, AND IN PARTICULAR, USING MULTILINGUAL SIGNAGE, UM, FOR THAT KEY MESSAGING, MAKING SURE THAT IT'S, IT'S COMING ACROSS TO ALL OUR PARK VISITORS.
AND THEN THEY'RE GONNA CONTINUE COLLABORATION WITH ASD.
AND ONE OF THE, ONE OF THE PROJECTS THEY'RE WORKING ON IS AT KELLER BEACH, UH, ANOTHER ONE, TILDEN, EEC.
AND JUST MAKING SURE THAT THEY'RE HELPING ASD GET ALL THE COMMUNITY INPUT ON THOSE PROJECTS AS THEY MOVE FORWARD
[00:30:03]
AND PUBLIC SAFETY.SO THEY ARE CONTINUING TO FILL THEIR VACANCIES, AND THEY'VE MADE A LOT OF PROGRESS THIS YEAR, CONTINUING THAT WORK IN THE COMING YEAR TO FILL 14 SWORN OFFICER POSITIONS AND FIVE DISPATCHER VACANCIES, UM, CONTINUING THEIR WORK ON FUEL REDUCTION TREATMENTS.
UH, SO 1500 ACRES IN THE EAST BAY HILLS URBAN INTERFACE, AND THEN 365 ACRES AT ANTHONY SHABO, AND 35 ACRES IN TILDEN, WHERE THEY'RE REMOVING THOSE DEAD TREES AND DROUGHT STRESSED TREES.
AND THEN LASTLY, THE LIFEGUARDS HAD THIS, UH, WORK THAT THEY'VE BEEN DOING WITH THE ANTIOCH UNIFIED SCHOOL DISTRICT.
THEY'RE MOVING FROM PILOT TO, UH, REALLY SOLIDIFYING THIS AS A NEW, UH, NEW PROGRAM.
SO PARTNERING WITH ANTIOCH UNIFIED SCHOOL DISTRICT TO PROVIDE, UH, WATER SAFETY PROGRAMMING.
AND NOW WE'RE GONNA GET INTO THE NUMBERS OF THE BUDGET.
UH, SO THE 2024 BUDGET IS BALANCED, INCLUDING THE USE OF FUND BALANCE WITH PLANNED EXPENDITURES FROM ALL FUNDS, TOTALING 316 MILLION ON THE EXPENDITURE SIDE.
WE CAN BREAK THIS DOWN IN VARIOUS WAYS.
SO FIRST, WE'RE LOOKING AT IT BY FUND TYPE.
UH, SO ABOUT TWO THIRDS OF OUR APPROPRIATIONS ARE IN THE GENERAL FUND, 201 MILLION.
OUR SPECIAL REVENUE FUNDS MAKE UP 8.9 MILLION.
OUR PROJECTS FUND 32 MILLION INTERNAL SERVICE FUNDS, 34 MILLION.
AND THEN DEBT SERVICE, 39.1 MILLION.
ANOTHER WAY TO LOOK AT OUR APPROPRIATIONS IS ON THE TYPE OF SPENDING THAT WE'RE DOING.
SO, UH, A LITTLE OVER 50% OF OUR BUDGET GOES FOR PERSONNEL COSTS.
THE NEXT LARGEST PIECE IS FOR SUPPLIES AND SERVICES.
UH, AFTER THAT, UH, IT'S ACTUALLY DEBT SERVICE, 12.4%.
UH, THEN INTRA DISTRICT, UH, CHARGES.
SO THAT'S FOR OUR INTERNAL SERVICE FUNDS.
UM, CAPITAL OUTLAY, 4.1%, AND THEN INTER-AGENCY AGREEMENTS 0.6%.
AND NOW ONTO THE REVENUE SIDE, 291.9 MILLION IN REVENUES.
UH, AGAIN, THE VAST MAJORITY IS, IS TAXES AND ASSESSMENT.
PROPERTY TAXES, PRIMARILY, UH, 45 MILLION IS FEES AND CHARGES, UH, 2.5 MILLION.
PROPERTY USAGE, 3.6 MILLION IS MISCELLANEOUS, WHICH IS MANY THINGS.
BUT THE LARGEST PORTION, UH, 2 MILLION IS ACTUALLY FUNDING THAT'S COMING IN FROM OUR PENSION TRUST, UH, TO REIMBURSE US FOR THE UNFUNDED LIABILITY FOR OUR MISCELLANEOUS PLAN.
AND THEN LASTLY, 0.7 MILLION IS BUDGETED FOR GRANTS AND INTER-AGENCY AGREEMENTS.
IN FACT, YOU'LL SEE LATER WE RECEIVE QUITE A BIT MORE, UH, GRANT FUNDING, UH, USUALLY FOR PROJECTS, BUT WE DON'T BUDGET THAT UNTIL WE HAVE A SIGNED AGREEMENT.
AND SO WE'RE ACTUALLY BUDGETING FOR THAT AS THE GRANT AGREEMENTS COME IN DURING THE YEAR, SO YOU DON'T SEE THEM BEING BUDGETED HERE.
BUT THAT, UM, DOES GET BUILT INTO OUR BUDGET DURING THE YEAR.
UH, AND THEN AGAIN, LOOKING AT THAT, UH, REVENUE BY TYPE IN A, IN A PIE CHART, YOU CAN SEE MORE CLEARLY HERE THAT THE LARGEST REVENUE SOURCE TAXES AND ASSESSMENTS, UH, 15% CHARGES FOR SERVICES AND EVERYTHING ELSE IS DWARFED IN COMPARISON.
SO 0.8% PROPERTY USAGE, 0.9%, THAT MISCELLANEOUS MOSTLY THE PENSION TRUST AND 0.2%, UH, GRANTS AND INTERAGENCY AGREEMENTS.
MOVING ON TO THE STAFFING, UM, WE ARE ADDING 15.25 NEW FTES THIS YEAR, AND THAT BRINGS THE PARK DISTRICT TO 978.5 FTE IN TOTAL.
UM, IN FACT, DURING THE SUMMER, WE HAVE, I THINK WELL OVER 1,100 EMPLOYEES NOW.
UM, BUT BECAUSE THOSE SUMMER EMPLOYEES ARE, UH, SEASONAL AND TEMPORARY, IF YOU ADD THEM ALL, ALL THOSE FRACTIONAL POSITIONS TOGETHER, AS OF TO 978 FTES, WHICH IS FULL-TIME EQUIVALENT POSITIONS.
UM, I NOTICED, UM, IS THERE AN OPPORTUNITY HERE TO, UM, TO SHOW HOW MANY OF THOSE NEW POSITIONS ARE, UH, ARE REPRESENTED EITHER POA OR, UM, 2 4, 2 8? UM, I THINK WE HAVE IN THE PAST, I'M TRYING TO THINK.
UM, THE FULL LIST OF POSITIONS, HANG ON.
OH, AND IN, IN THE, IS THAT WHAT YOU IN THE BUDGET? YEAH.
B 38, UM, IS THE FULL LIST OF POSITIONS.
I DON'T, I DON'T HAVE A CHART SHOWING.
UM, WHAT, WHAT ARE REPRESENTED AND, AND WHAT ARE NOT.
I DO HAVE A CHART SHOWING WHICH DIVISION THEY'RE BEING ADDED TO
UH, SO THE, THE VAST MAJORITY ARE GOING TO OPERATIONS, WHICH MAKES SENSE THERE.
THEY'RE OUR BIGGEST DIVISION, AND, AND YET WE KNOW WE HAVE A LOT OF NEEDS OUT THERE.
UM, TWO FDE ARE BEING ADDED TO ASD, UH, TWO FTE TO FINANCE AND MANAGEMENT
[00:35:01]
SERVICES.THOSE ARE IN THE INFORMATION SERVICES DEPARTMENT, ONE NEW FTE IN HUMAN RESOURCES.
AND THEN 0.5 IN PUBLIC AFFAIRS.
AND THEN TO GIVE YOU SOME ADDITIONAL CONTEXT, UM, THIS IS, UH, A DEPICTION OF THE POSITIONS THAT HAVE BEEN ADDED FOR THE LAST 10 YEARS.
SO YOU CAN SEE ON THE FAR RIGHT THIS YEAR, WE'RE ADDING 15.25, WHICH IS, WHICH IS FANTASTIC.
UH, WHEN YOU COMPARE IT TO THE LAST TWO YEARS, YOU CAN SEE WHY WE, WE REALLY WANTED, UM, THE DIVISIONS TO KNOW AT THE OUTSET, LIKE, THIS IS NOT GONNA BE AS, UH, GOLDEN AS IT WAS THE LAST COUPLE YEARS WHERE WE REALLY WERE ABLE TO ADD A LOT OF NEW POSITIONS.
SO MORE MODERATE, IT'S MORE IN LINE WITH, UM, MAYBE GOING BACK TO, TO 2014 AND 2015.
THAT WAS THE LAST SLIDE ON THE OPERATING BUDGET.
AND NOW I'M ABOUT TO JUMP INTO THE PROJECT AND PROGRAM BUDGET.
UH, SO BEFORE I BEGIN, FOR SOME REASON IT'S NOT, THERE WE GO.
UM, IT'S CALLED THE PROJECT AND PROGRAM BUDGET BECAUSE WE, WE BREAK THINGS DOWN IN TWO DIFFERENT WAYS.
SO WE, IN THE FRONT OF THE BOOK, WE SHOW, UM, SOME OF OUR LARGER PROJECTS, SOME OF THE MORE SIGNIFICANT OR INTERESTING PROJECTS.
UM, THEY EACH GET A SINGLE PAGE.
AND SO THOSE ARE, THOSE ARE PROJECTS WHERE IT'S BUILDING AN ASSET OR SOME MAYBE, UM, ACQUISITION PROJECT AT A SPECIFIC LOCATION WHERE WE HAVE A BUDGET OF A HUNDRED THOUSAND DOLLARS OR GREATER.
AND THOSE ARE, UM, THEY GET A, THE PHOTO, YOU GET AN UPDATE ON THE PROJECT STATUS, HOW THE FUNDING IS COMING ALONG.
UM, ANY EXPECTED OPERATING IMPACTS FOR WHEN THOSE PROJECTS ARE, ARE COMPLETED, AND FUNDING SOURCES AND EXPENDITURES TO DATE.
AND THEN, UH, BUT THE MAJORITY OVER 300 PROJECTS GET GROUPED TOGETHER AS PROGRAMS. UH, WE DO THAT PARTLY BECAUSE WE HAVE SO MANY PROJECTS.
WE CAN'T GIVE THEM ALL A PAGE WHERE IT WOULD BE JUST LIKE A MASSIVE TOME.
BUT, UM, BUT ALSO IT GIVES A SENSE OF THE PARK DISTRICT'S COMMITMENT IN DIFFERENT AREAS OF WORK.
BY PUTTING SIMILAR PROJECTS TOGETHER, YOU CAN SEE, OH, THIS IS ALL THAT WE'RE DOING IN HABITAT RESTORATION, OR THIS IS ALL WE'RE DOING FOR FUELS, UH, MANAGEMENT.
UH, ANOTHER THING TO HIGHLIGHT THAT, UH, WE STARTED LAST YEAR AND IMPLEMENTED AGAIN THIS YEAR, IS CAPITAL PROJECT PRIORITIZATION.
SO, UH, EACH PROJECT THAT IS, UM, PUT FORWARD RECEIVES ACPP SCORE.
IT'S OUT OF 135 POINTS, AND IT'S SCORED BASED ON, UH, EQUITY INCREASING AND ENHANCING PUBLIC ACCESS.
UM, WHETHER THE PROJECT ASSISTS WITH, UH, PREPARING FOR CLIMATE CHANGE, UM, PARTNERSHIP, IS IT BEING IMPLEMENTED IN PARTNER, UH, PARTNERSHIP WITH ANOTHER AGENCY, DOES IT GIVE US ANY EFFICIENCIES IN OUR OPERATION? DOES IT AID PUBLIC AND ENVIRONMENTAL HEALTH? DOES IT PROVIDE MANY DIFFERENT BENEFITS, NOT JUST ONE, UH, DOES IT MAINTAIN AND EXTEND THE USEFUL LIFE OF AN EXISTING ASSET? AND THEN LASTLY, IS THE PROJECT READY TO GO? AND THIS FUNDING IS LIKE THE LAST PIECE THAT'LL ALLOW IT TO MOVE FORWARD.
QUESTION, UM, REGARDING ALAMEDA POINT AND, UM, WHAT, WHAT MORE NEEDS TO BE DONE THERE? I THOUGHT THAT PROJECT WAS COMPLETE.
IT WAS COMPLETE
I THINK I PICKED THAT ONE BECAUSE IT'S, UM, IT'S GOT A HIGH SCORE.
AND IT, IT, IT'S A PROJECT PEOPLE KIND OF KNOW ABOUT.
UM, BUT I THINK YOU'RE RIGHT THAT IT'S COMPLETE.
SO MAYBE IT WASN'T THE BEST EXAMPLE.
UM, AND THEN PROJECTS ARE EXEMPT FROM SCORING IF THEY ARE, UH, NEED TO BE DONE TO COME TO FULFILL LEGAL SAFETY OR OTHER MANDATED REQUIREMENTS.
SO THEN THEY GET AN E RATHER THAN A NUMBER SCORE.
UM, A QUESTION THAT COMES UP OFTEN IS, YOU KNOW, WHAT ARE THE FUNDING SOURCES FOR OUR PROJECTS? SO LOOKING AT ALL OF OUR ACTIVE PROJECTS, ABOUT 50% OF THE FUNDING COMES FROM DISTRICT SOURCES.
SO THAT'S EITHER THE GENERAL FUND OR MAJOR INFRASTRUCTURE RENOVATION FUND OR, UM, SPECIAL REVENUE FUNDS.
AND THEN THE NEXT LARGEST IS GRANT FUNDING.
SO, AS I MENTIONED, THE DISTRICT DOES RECEIVE QUITE A LOT OF FUNDING FROM GRANTS, SO 23%.
BUT THAT COMES, SO THE BOARD IS APPROVING APPLICATIONS FOR, FOR GRANTS AT ALMOST EVERY, UH, BOARD MEETING.
AND THEN AS THOSE GRANTS ARE AWARDED, WE, UM, ALLOCATE THEM TO THE, TO THE PROJECT BUDGETS.
UH, 21% IS FROM V FUNDS, SO MEASURE WWW PRIMARILY, ALSO MEASURE AA AND THEN PROMISSORY NOTES.
AND THEN LASTLY, OTHER, UH, COULD BE SOMETHING LIKE DEVELOPER PROVIDED FUNDS.
UM, SOMETIMES WE GET FUNDING FROM A DEVELOPER TO LIKE BUILD A STAGING AREA, UM, OR FOR EXAMPLE, FROM ANOTHER AGENCY, UM, AS A RESULT OF SOME AGREEMENT.
AND THEN JUST HERE IS A, A SNAPSHOT OF JUST A FEW OF OUR PROGRAM APPROPRIATIONS TO GIVE YOU A SENSE OF THAT, THAT BROAD AREA OF WORK.
[00:40:01]
UH, 6 MILLION FOR INFRASTRUCTURE MAINTENANCE PROJECT, UH, 6 MILLION FOR LAND USE PLANNING AND DESIGN PROJECTS.1.3 MILLION FOR, UH, SERVICES ENHANCED THROUGH SPECIAL FUNDING IS ACTUALLY MEASURE FF UM, 1.3 MILLION FOR TECHNOLOGY AND WORKSPACE IMPROVEMENT PROJECTS.
AND THEN 3 MILLION FOR WILDFIRE HAZARD REDUCTION.
AND THEN JUST A FEW PROJECTS THAT ARE HIGHLIGHTED HERE, UM, THAT EACH RECEIVED A, A SPECIAL, UH, A, A SINGLE PAGE IN THE BOOK.
UM, ANTHONY SHABO, UH, PROJECT TO REPLACE THE CAMPGROUND SEWER IS GETTING UNDERWAY, IS GONNA BE A, A MAJOR, MAJOR PROJECT.
UM, BRI'S, THE UPGRADE LAFAYETTE RIDGE STAGING AREA PROJECT IS, UH, MOVING FORWARD AND IT NEEDED AN ADDITIONAL 150,000 A COYOTE HILLS PROJECT.
IT NEEDED A $1.3 MILLION TO MOVE ON TO THE, THE DUST BRIDGE, UH, PHASE OF THE PROJECT, UM, AT DEER VALLEY, A HUNDRED THOUSAND FOR DEVELOPING PUBLIC ACCESS OUT THERE.
UM, THE, I MENTIONED THIS EARLIER, 3 MILLION FOR MLK TO I EDWARD DE USE AREA A HUNDRED THOUSAND FOR TRAILS AT, UH, BEGINNING THE PROCESS OF CONSTRUCTING TRAILS AT SIBLI MACKER, AND 500,000 FOR THE TILDEN EEC.
AND THEN WE HAVE JUST A FEW SLIDES THAT LOOK AT THE, SOME OF THOSE PICTURES IN MORE DETAIL.
UM, COYOTE HILLS IMPROVE ACCESS AND HABITAT PROJECT UNDERWAY.
AND ANOTHER PICTURE FROM ABOVE LOOKING DOWN AT KELLER BEACH.
AND THIS PROJECT IS TO IMPROVE THE ACCESS TO THAT BEACH AREA.
UH, ANOTHER MAJOR PROJECT OUT AT CROWN BEACH DEVELOPING MCKAY AVENUE.
SO THAT'S TO SUPPORT THE PLANNED EXPANSION OF THAT WHOLE CROWN BEACH SITE, BUT GOTTA DO THE UTILITY WORK FIRST.
UH, AND THEN ANOTHER ONE THAT'S REALLY GOING TO BE HELPFUL FOR STAFF IS, UH, IMPLEMENTING A NEW SERVICE YARD OUT AT POINT PINOLA.
THEY HAVE, UM, FROM WHAT I UNDERSTAND, NOT NOT VERY GOOD, UM, STAFF SERVICE YARD RIGHT NOW.
SO THIS WILL, UM, IMPROVE THINGS FOR THEM.
SO THAT'S JUST GETTING UNDERWAY.
AND, UH, THAT WAS THE LAST KINDA MEAT AND POTATO SLIDE.
THIS IS JUST A REMINDER OF THE PROCESS.
SO TODAY YOU HEARD THE FIRST, UM, REVIEW OF THE PROPOSED BUDGET.
UH, THE NEXT REVIEW HAPPENS AT THE PARK ADVISORY COMMITTEE, WHICH IS ON NOVEMBER 27TH AT 4:00 PM THEN IT GOES TO THE BOARD OF DIRECTORS, UH, FOR THE FIRST TIME ON DECEMBER 5TH FOR OUR EVENING MEETING.
UH, AND THAT'S A PUBLIC HEARING.
AND THEN SECOND TIME, THE BOARD OF DIRECTORS HERE AT DECEM.
HERE'S, THIS WILL BE DECEMBER 19TH, AND THAT'S, UH, IDEALLY BUDGET ADOPTION.
SO WE'RE ASKING THAT THE FINANCE COMMITTEE RECOMMEND THIS TO THE BOARD OF DIRECTORS, UH, IN DECEMBER.
I BELIEVE THAT'S THE LAST SLIDE.
AND, UH, HAPPY TO TAKE ANY QUESTIONS.
UM, IS THIS OUR, IS THIS OUR OPPORTUNITY TO, UM, DELVE INTO SPECIFICS AS FAR AS THE, THE TWO BOOKLETS THAT WERE PROVIDED? THIS IS IT.
SO THEN, UH, I'M SURE BOTH DIRECTORS, I'LL HAVE QUESTIONS.
WELL, I GUESS, UM, I'M, I'M NOT SURE HOW MUCH WE DISCUSSED THIS, BUT WE HAVE SOME PROJECTS WHERE WE PUT FUNDING ASIDE, BUT WE DON'T HAVE THIS SPECIFIC REQUEST FOR CERTAIN PROJECTS.
HOW WILL THAT PROCESS, UH, WORK? DO YOU KNOW WHAT I'M TALKING ABOUT? YEAH.
SO IT'S SOMETHING NEW THAT WE'RE DOING THAT I THINK IS, IT'S VERY SMART TO HAVE SOME FUNDING TO FIND IN ADVANCE THAN TO HAVE TO GO OUT AND FIND IT AFTER THERE'S BEEN A BIG DANGEROUS SITUATION HAPPEN.
AND NOW YOU GOTTA GO FIND SOME FUNDING JUST TO HAVE THAT FUNDING IN ADVANCE.
BUT HOW WILL THAT ALL WORK, THAT PROCESS? YEAH, THAT'S RIGHT.
UM, SO AS THOSE PROJECTS ARE KNOWN, THEY WILL COME TO THE BOARD IF THE, UM, ONCE IT HITS THAT $50,000, UH, APPROPRIATION AMOUNT, NOT APPROPRIATION AMOUNT.
ONCE THE CONTRACT GETS TO BE ABOVE $50,000, THEN IT DOES COME TO THE BOARD OF DIRECTORS FOR APPROVAL.
SO YOU WOULD SEE THAT, UM, AS THOSE FUNDS ARE BEING USED, YOU WOULD SEE THAT COME FORWARD.
OTHER THAN THAT, I REALLY DON'T HAVE ANY OTHER, UM, QUESTIONS AT THIS POINT.
I DO APPRECIATE THE FACT THAT WE, YOU KNOW, HAD ADDITIONAL IDEAS AND WAYS TO DO THINGS, UH, OVER PAST YEARS, KNOWING THAT FROM TIME TO TIME, WE'RE GONNA HAVE SOMETHING THAT COMES UP THAT WE NEED TO TAKE CARE OF.
AND THERE'S NO DOUBT, WE KNOW THAT NOW WE'RE
[00:45:01]
GONNA HAVE STORMS AND WE HAVE PAST STORMS THAT WE'RE STILL DEALING WITH PROJECTS, AND WE'LL HAVE MORE.UM, SO I APPRECIATE THE WAY OF LOOKING AT IT IN A WAY TO KNOW THAT WE CAN FIND WHAT WE NEED TO FIND, EVEN IF IT'S SOMETHING THAT COMES UP LAST MINUTE.
SO, SO WHAT'S THE SCOPE OF THIS PORTION OF OUR MEETING? ARE WE GOING DOWN EVERYTHING THAT, UH, WE HAVE A QUESTION ABOUT, UH,
SO I GUESS LET'S START WITH THE STAFF REPORT.
I JUST HAD A QUESTION, BRIEF QUESTION ON THAT.
ON PAGE 18 AT THE BOTTOM, LAST PARAGRAPH, THERE'S A, UM, STATEMENT AT THE VERY END THAT, UM, TALKS ABOUT, UM, SWIMMING, UH, SWIMMING FACILITIES AND POSSIBLE TEMPORARY CLOSURES.
UM, COULD SOMEBODY ELABORATE ON THAT? WHY ARE, WHY, WHY ARE WE MENTIONING THAT? WHY ARE WE TAKING THAT INTO ACCOUNT? YEP.
UM, THE ONE THAT I KNOW OF FOR SURE IS COAL CANYON.
UM, WHERE THE, MY UNDERSTANDING IS, AND THIS IS FAR OUTSIDE OF MY AREA OF EXPERTISE, BUT THE LINING, UM, HAS NOT BEEN HOLDING WATER.
AND SO THEY'RE LOOKING AT WHAT IS THE BEST REPAIR, AND IT IS NOT GOING TO BE, UM, ABLE TO OPEN IN 2024 WHILE THEY'RE WORKING ON THAT.
UM, THAT'S THE MAIN ONE THAT I KNOW ABOUT.
I ALSO, UM, KNOW THAT THEY HAVE BEEN SWIMMING FACILITY CLOSURES IN THE PAST RELATED TO ALGAE BLOOMS. AND, UM, SO I THINK OPERATIONS WAS BEING CONSERVATIVE IN, AND I'M NOT SURE IF THIS WAS A QUESTION RELATED TO THE REVENUE THAT WE'RE RECEIVING.
UM, SO OPERATIONS WAS CONSERVATIVE IN THEIR ESTIMATES, AND THEY BROUGHT, YOU KNOW, BASED ON PRIOR YEAR ACTUALS BROUGHT SOME OF THEIR REVENUE, UH, ESTIMATES DOWN FOR SOME OF THOSE SWIM AREAS WHERE WE HAVE NOT BEEN ABLE TO MEET OUR GOALS OR MEET OUR, MEET OUR BUDGET IN THE PAST.
C AND COULD YOU PULL THE MI MICROPHONE A LITTLE CLOSER BECAUSE I'M, I FEEL LIKE I NEED TO LEAN FORWARD, AND I DON'T THINK THAT'S GONNA MAKE ANY DIFFERENCE.
CAN YOU, IS THAT BETTER? IT'S A LITTLE BETTER.
I HAVE A VERY, THAT IS BETTER.
I JUST NEED TO TALK CLOSER TO IT.
SO, UM, I GUESS, UM, I'M GONNA GO PAGE BY PAGE.
SO PAGE BY PAGE ON THE OPERATING BUDGET.
SOME, SOME OF THE STUFF IS JUST COMMENTS AND, AND SOME OF 'EM ARE MEANT TO BE KIND OF FUN, I GUESS.
BUT UNDER JURISDICTION IT TELLS US, IT SAYS THAT WE HAVE, WE, UM, OUR JURISDICTION IS 1,745 MILES, WHICH IS 200 SQUARE MILES MORE THAN RHODE ISLAND.
JUST SAYING IT'S BIGGER THAN A STATE.
UM, IT'S THE, NOW OVER TO PAGE SIX.
UM, SO, SO THERE'S A NOTE THERE THAT SAYS THIS WILL BE UPDATED FOR THE ADOPTED BUDGET.
AT WHAT POINT DOES THAT ENTER THE, ENTER THE SYSTEM OR THE DOCUMENT? IS THAT THE, AT THE, WHEN THE, FOR THE FULL BOARD OR, OR WHEN DOES THAT BECOME PART OF THE YEAH, SO THE, THE ADOPTED BUDGET, WE TRY TO GET IT OUT TO YOU IN FEBRUARY.
WE HAVE NOT ACHIEVED THAT GOAL FOR THE LAST COUPLE YEARS, BUT WE TRY TO GET IT OUT TO YOU IN FEBRUARY.
IT DOES NOT COME BACK TO THE FULL BOARD.
SO YOU'LL JUST RECEIVE A PRINTED COPY AND WE UPDATE, THERE'S A COUPLE TABLES THAT YOU PROBABLY SAW WHERE IT SAYS NOT UPDATED.
IN THIS CASE, THE NUMBERS AREN'T YET AVAILABLE.
AND SO THAT'S WHY WE HAVEN'T, UM, UPDATED THEM.
AND THAT'S ACTUALLY THE REASON FOR MOST OF, PROBABLY ALL OF THE TABLES THAT ARE NOT UPDATED, IS THAT WE DON'T HAVE THE DATA YET TO PUT IT IN.
SO IT'S, IT'S WHAT WE HAD IN LAST YEAR'S ADOPTED BUDGET IS WHAT YOU'RE SEEING HERE.
DOES THAT ANSWER IT? BUT, BUT YOU KNOW, SO WHEN YOU DON'T HAVE THIS, YOU CAN'T ROLL UP TOTALS THAT ARE ACCURATE.
SO AT WHAT POINT DO WE GET A GET, UM, FOR THE, FOR THE DEMOGRAPHICS? WELL, OKAY.
SO THAT'S WHAT, THAT'S PRETTY MUCH WHAT YOU'RE RIGHT.
THAT'S WHAT THIS, THAT'S WHAT THIS IS.
[00:50:01]
I GUESS MAYBE YOU JUST ANSWERED THIS, BUT WHEN, WHEN THE FINAL DOCUMENT IS PRESENTED, THIS WILL BE UPDATED.I JUST HAVE A COUPLE OF, UM, ON PAGE FOUR, UH, UNDER FACILITIES, IT DESCRIBES 42 YOUTH CAMPING AREAS.
IS THAT A NEW TERM? AND IF, IF SO, UM, WHAT ARE WE CALLING YOUTH CAMPING AREAS? I WILL LOOK INTO THAT.
I BELIEVE WE ARE MIRRORING WHAT'S IN THE, UM, THAT LITTLE PARK FACTS, UM, PAMPHLET THAT OPERATIONS PUTS, PUTS OUT.
I BELIEVE THAT'S WHERE THIS INFORMATION COMES FROM.
YEAH, I'D LIKE TO HAVE THAT DEFINITION OF THAT.
I'LL REACH OUT TO OPS AND FIND OUT AND WHERE THEY'RE AT.
I'M PRETTY SURE THAT'S WHERE WE GRABBED THAT TERM FROM.
AND THEN ALSO, UM, I JUST WANTED TO NOTE ON THAT UNDER FACILITIES THAT THERE'S ONLY ONE ADULT EXERCISE LOCATION IN THE PARK DISTRICT.
I'M ADVOCATING FOR SOMETHING AT LAKE TEMESCAL, BUT, AND THEN ALSO, UM, THERE'S NO MENTION OF THE 55 MILES OF SHORELINE, WE'VE, IN A LOT OF OUR NARRATIVES WE ALWAYS PUT OUT, UH, WE, WE HAVE 55 MILES OF SHORELINE AND I SEE NOTHING HERE EXCEPT FOR THE, UH, TWO SAN FRANCISCO BAY SHORE BEACHES.
I THINK THAT SHOULD BE MENTIONED.
I I I, I ALWAYS, ALWAYS THROW THAT OUT THERE WHEN I'M TALKING TO PEOPLE.
IT'S, IT'S SOMETHING THAT'S NOT, PEOPLE HAVE NO IDEA THAT THAT'S THE CASE.
YOU KNOW, IT'S, IT'S, IT'S A GOOD ONE TO PUT OUT THERE.
SOUNDS LIKE A NEWS, UH, BROADCAST.
SO, UM, UP AT THE TOP IT TALKS ABOUT NEW A, A NEW CULTURAL RESOURCES UNIT, INCLUDING A NEW PLANNING POSITION.
AND I'M WONDERING IF THAT HAS ANY EFFECT ON THE ARCHIVE, THE DISTRICT ARCHIVE? HAS IT TOUCHED THAT AT ALL? OR IS IT ONE OF THE THINGS THAT'S DONE THAT'S NOT REALLY PART OF THAT? UH, SO, SO THEY ARE DIFFERENT DIVISIONS.
SO THE ARCHIVES, UH, UNIT IS IN PUBLIC AFFAIRS, AND THIS CULTURAL SERVICES UNIT WOULD BE IN ASD.
I IMAGINE THAT THEY WOULD INTERACT, UM, BUT THAT'S KIND OF SPECULATION ON MY PART, JUST, BUT, BUT I DO THINK THAT THEY'RE OPERATING IN SIMILAR WORLDS WHERE IT WOULD BE IMPORTANT FOR THEM TO COMMUNICATE WITH EACH OTHER, BUT THEY'RE IN DIFFERENT, IT'S DIFFERENT DIVISIONS, THOSE TWO UNITS.
AND THEN ON A, A EIGHT, UM, JUST A, JUST A COMMENT ABOUT, UH, DOWN ON UNDER PARK AND FACILITY MANAGEMENT ON THE FIRST BULLET, IT USES THE TERM PIPELINE AND YOU KNOW, I KNOW, I KNOW WHAT THAT IS.
IT'S IN THE GLOSSARY, BUT IT'S NOT DEFINED BEFORE THIS POINT IN, IN THE PRESENTATION.
SO I THINK IT SOMEHOW OR OTHER IT NEEDS TO BE, IF SOMEBODY'S READING, 'CAUSE THIS IS THE KIND OF THING THAT THIS MAY BE ALL SOMEBODY READS.
SO AT SOME POINT IT COULD BE IN THAT BULLET, IT COULD BE, I DON'T, I DON'T, I DON'T WANNA PRESCRIBE ANYTHING, BUT THAT NEEDS TO BE DEFINED, I THINK.
AND, UM, LET'S SEE, OH, JUST A, UM, A GENERAL COMMENT.
UH, SO, SO WE HAVE, WE HAVE THE IVAN DIXON FUND, WHICH IS SUPPOSED TO FUND, UH, SUPPORT, LET'S JUST SAY SUPPORT VOLUNTEER TRAIL PROJECTS.
UM, I DIDN'T SEE IT MENTIONED, I SAW IT MENTIONED IN HERE, BUT IT'S NOT MENTIONED ANYWHERE IN AS ANY FUND.
UM, MAYBE IT'S SOMETHING INFORMAL.
UH, YOU KNOW, THAT'S, THAT'S NOT TECHNICALLY A FUND, BUT YEAH, I, I, I THINK, UM, I DON'T KNOW.
I'D LIKE TO JUST MAKE A SUGGESTION YEAH.
THAT IT'D BE IDENTIFIED A LITTLE MORE CLEARLY.
UH, BECAUSE THERE IS SOME, THERE IS SOME THOUGHT ABOUT GROWING THAT ACT ACTIVELY AND AGGRESSIVELY GROWING THAT FUND SO THAT IT, IN THE FUTURE IT CAN SUPPORT MORE VOLUNTEER TRAIL WORK.
I KNOW WE'RE, WE HAVEN'T BEEN DOING THAT FOR A FEW YEARS FOR, YOU KNOW, OBVIOUS REASONS, BUT, UM, I THINK IT NEEDS A LITTLE BIT MORE, UM, VISIBILITY.
YEAH, THAT'S, THAT'S A GREAT IDEA.
[00:55:01]
DIXON IS WITHIN OUR GIFTS FUND, BUT WE COULD SAY, YOU KNOW, INCLUDING IVAN DIXON AND WE COULD EVEN, UM, SAY SOMETHING IN THE DESCRIPTION OF THAT FUND.YEAH, IT'S ON, IT'S DOWN ON, IT'S ON PAGE D 11.
SO OH, RIGHT IN THE VOLUNTEER SECTION? YEAH.
YEAH, WE COULD CALL IT OUT IN THE, UM, SPECIAL FUNDS.
UM, IT IS NOT A SEPARATE FUND, BUT WE COULD CALL IT OUT WITHIN IN THE FUND THAT IT IS PART OF.
UM, ON B FOUR, JUST TO COMMENT AGAIN, YOU KNOW, YOU MENTIONED THIS IN EARLY IN YOUR PRESENTATION, BUT THE PRIORITIES, I JUST REALLY AM HAPPY TO SEE, IT'S JUST NICE TO SEE THE KIND OF THE PRODUCT OF ALL THE, OF ALL THE, UM, THINKING AND TALKING THAT WE DID ABOUT THAT AND ALL THE CONSIDERATIONS TO FINALLY SEE THEM LAID OUT, YOU KNOW, IN FIVE BULLET POINTS IS VERY, UM, HELPFUL.
AND I THINK WHEN WE, WE GO AND SPEAK TO GROUPS, I THINK THIS MIGHT BE SOMETHING, I KNOW THIS TIP SHOULD BE SOMETHING WE SHOULD INCLUDE TO WHOEVER WE'RE SPEAKING TO THAT YOU KNOW, HEY, BY THE WAY, THESE ARE THE THINGS THAT WE'RE GONNA BE FOCUSING UPON.
AND, YOU KNOW, THESE THINGS ARE BASED ON, UM, A LOT OF THAT'S BASED ON INTERACTION WITH THE COMMUNITY ANYWAY.
SO ANYWAY, I LIKE HAVING THAT THERE.
IT'S JUST LAID OUT RIGHT THERE.
AND THEN, SO ON B NINE, UM, ALL THAT HIGHLIGHTED IS, IT'S SIMILAR TO WHAT YOU WERE TALKING ABOUT BEFORE ABOUT, IT'S JUST NOT READY YET.
AND IT, AND IT WILL BE IN THE FINAL YES.
UM, SO I'M, I'M, I'M LOOKING AT, UM, CHARGES FOR DIS CHARGES FOR DISTRICT SERVICES, UM, PUBLIC SAFETY SERVICES.
AND I SEE THE 2024 BUDGET IS 1.2 MILLION, BUT IN 2021 IT WAS 2.1 MILLION.
AND I'M JUST WONDERING WHY IT WENT DOWN SO MUCH OVER THE OVER TIME.
SO IN THE 2021 AND 2022, YOU'RE SEEING ACTUALS.
SO WHAT WE ACTUALLY RECEIVED, UM, HAS BEEN HIGHER THAN WHAT WE HAVE BEEN BUDGETING.
YOU CAN SEE, I, I THINK THIS IS THE LINE THAT YOU'RE LOOKING AT.
SO WE'VE BUDGETED VERY CONSISTENTLY 1.26.
AND I THINK IF YOU WERE TO GO BACK, WE'VE BEEN BUDGETING CONSISTENTLY 1.26 VERY CONSERVATIVELY.
UM, AND IN FACT, THE REVENUES THEY RECEIVE ARE, ARE COMING IN HIGHER.
UM, SOME OF THAT IS, IS BILLING BASED ON, UM, THEIR HELICOPTER USAGE.
SO IF THEY ARE REQUESTED BY AN AGENCY TO DO A FLYOVER, UM, THEN THEY RECEIVE REVENUE FROM THE AGENCY.
SOME OF IT'S, I THINK IS HARD TO PROJECT WHAT'S, WHAT'S GOING TO BE NEEDED, WHAT THEY'LL BE GETTING REVENUE FROM.
UM, AND SO THE 1.2 IS LIKE SOLID.
THEY KNOW LIKE THERE'S A CONTRACT WITH EAST BAY MUD, UM, TO PROVIDE CERTAIN SERVICES.
AND THEN, BUT SOMETIMES IT COMES IN HIGHER THAN THAT.
SO YOU, YOU MENTIONED EAST BAY MUD AND THAT WAS ANOTHER ONE THAT I WAS WONDERING ABOUT IS NOWHERE IN HERE IS THAT AGENCY MENTIONED THAT I COULD FIND.
AND THEY ARE A BIG CUSTOMER OF OURS.
AND I THINK PEOPLE, I THINK PEOPLE LIKE TO SEE, I KNOW PEOPLE LIKE TO SEE COOPERATION BETWEEN AGENCIES BECAUSE THERE'S THIS PERCEPTION THAT THERE'S ALL THIS LAYERED WASTE GOING ON AND, YOU KNOW, IT'S PROBABLY UNFOUNDED, BUT THAT'S THE PERCEPTION BECAUSE IT'S NOT FOUNDED ON YEAH.
UH, A FIRM KNOWLEDGE OF HOW THINGS WORK.
'CAUSE IT'S, IT'S PRETTY COMPLICATED, BUT I I I THINK IT'D BE WORTHWHILE TO MENTION THEM AS ONE OF OUR CUSTOMERS THAT WE YEAH, THAT'S GREAT.
THAT WE HELPED THAT BECAUSE THEY'RE, THEY'RE KIND OF WOVEN INTO OUR, OUR LANDS ANYWAY.
YOU KNOW, IT JUST MAKES SENSE.
AGAIN, UM, THIS IS RELATED TO WHAT I JUST SAID.
UH, THOSE, UM, THAT AREA CHARGES FOR SERVICES MIGHT BE THE PLACE WHERE YOU COULD MEN MENTION THAT POSSIBLY, UM, AMONG THAT.
ALL RIGHT, SO NOW GOING INTO SECTION CC SEVEN.
SO THIS IS THE FIRST TIME I'VE SEEN THIS LIST, AND IT'S VERY INTERESTING.
[01:00:01]
I'M KIND OF HOPING THAT, UM, BEFORE THIS PROCESS IS COMPLETE IN DECEMBER, THAT, THAT WE HAVE THE ABILITY, THE, THE OPTIONS TO MAYBE ADD SOMETHING TO THAT.AND ONE OF 'EM, UM, THAT I WOULD LIKE THE BOARD TO CONSIDER IS, UM, SUPPORT OF THE BAY AREA BACK ROADS, UM, TV SHOW, I GUESS IT'S CALLED, UM, THAT WE'VE DONE THAT IN THE PAST, AND I DON'T SEE IT ON THERE ANYMORE.
AND, UM, I THINK THAT'S IMPORTANT, UM, BASED ON WHAT I'VE KIND OF HEARD OUT IN THE COMMUNITY.
UM, ALSO, I, I THINK, UM, WHAT WOULD BE HELPFUL TO ME AND PROBABLY THE OTHER DIRECTORS IS, UM, A LIST OF WHAT WE'VE SUPPORTED IN THE PAST, MAYBE GOING BACK FIVE YEARS, UM, TO SEE WHO WE'RE DROPPING OR WE, MAYBE WE DON'T MEAN TO BE DROPPING THEM, BUT, YOU KNOW, UM, I'D LIKE TO, I'D JUST LIKE TO SEE A LIST OF WHAT WE'VE, WE'VE BEEN DOING AND HAVE THE ABILITY TO MAYBE MAKE SOME JUDGEMENTS ON THAT, BECAUSE THERE, THIS IS A JUDGMENT, THIS IS, THIS IS QUALITATIVE.
I MEAN, WE KNOW IT'S, IT'S, THERE IS SOME PRESCRIPTION TO IT, I GUESS, BUT I'D LIKE TO KNOW, UM, WHAT'S NOT ON HERE THAT WE'VE DONE IN THE PAST.
IT TALKS ABOUT, UM, WHAT THE, UM, CLERK, CLERK OF THE BOARD DOES, AND IT SAYS COORDINATES FIELD TRIPS.
AND I THINK WE TRIED TO TALK, CALL THOSE SITE VISITS NOW.
UM, AND THEN, UM, THERE'S, THERE'S NO, THERE'S NO MENTION ANYWHERE IN HERE THAT I COULD FIND ABOUT WHERE BOARD MEMBER COMPENSATION AND REIMBURSEMENT, WHERE THAT, WHERE THAT COM, WHERE THAT SITS IN THE BUDGET.
AND I THINK THAT'S SOMETHING THAT'S INTERESTING TO FOLKS.
UH, SO THERE'S A SPACE RIGHT DOWN THERE BETWEEN THE LAST LINE OF TEXT AND THE TABLE.
SOMETHING COULD BE ADDED, BUT, YOU KNOW, I DON'T EVEN, I, I THINK I SHOULD KNOW THAT
SO, AND I, I THINK OTHERS WOULD WANNA KNOW IT.
SO JUST A LITTLE MORE CLARIFICATION ON THAT WOULD BE GREAT.
AND I'LL, AND I'LL JUST THROW OUT THE WORD TRANSPARENCY AS TO WHY I'M INTERESTED IN THAT.
SO, C 14, I JUST, I JUST, THIS IS JUST A GENERAL COMMENT ABOUT THIS WHOLE SECTION.
THIS IS A WONDERFUL SECTION OF THE BUDGET.
UM, TO ME, I'VE BEEN INVOLVED IN DOING BUDGETS FOR A LONG TIME IN MY CAREER, AND THIS GOES ABOVE AND BEYOND WHAT YOU'D EXPECT TO SEE.
YOU KNOW, WE DON'T TAKE THE, WE DON'T TAKE THE TERM BUDGET.
LITERALLY, WE, WE, WE USE IT AS AN OPPORTUNITY TO PRESENT WHO WE ARE AND WHAT WE DO AND WHY WE DO IT, AND HOW WE DO IT, ALL THOSE THINGS.
AND THIS WAS, SO, I MEAN, I WAS ON THE PARKS ADVISORY COMMITTEE FOR 17 YEARS, SO I GOT A LOT OF EXPOSURE TO THIS OUTFIT HERE.
AND I'VE NEVER, YOU KNOW, AND I WAS SUPPOSED TO BE READING THE BUDGET WHEN I WAS ON THE FINANCE COMMITTEE IN THE, IN THE PARK ADVISORY COMMITTEE, BUT MAYBE THIS WASN'T ON IT BACK THEN.
BUT HAVING THIS HERE IS VERY HELPFUL.
GOOD TO UNDERSTANDING, UM, AND THEN SEEING WHAT WE'RE, WHAT WE'RE PLANNING TO DO IN 2024.
AND IT HELPS US TO DO OUR JOB.
I THINK THAT THE DIRECTORS, UM, IF WE SEE SOMETHING THAT'S, UM, YOU KNOW, IT'S ON HERE, BUT GETS TO BE JULY AND THERE'S NOTHING HAPPENING, MAYBE WE CAN LIKE, TALK TO SOMEBODY ABOUT IT, YOU KNOW? BUT, UM, THIS IS VERY, VERY HELPFUL AND I REALLY APPRECIATE YOU READING IT.
I WANNA GO BACK AND READ IT AGAIN SOME MORE.
SO, UM, THOSE ARE ALL THE, UM, THOSE ARE ALL THE COMMENTS I HAD ON THE OPERATING BUDGET.
I MEAN, DO YOU WANT TO BREAK IT DOWN THAT WAY AND, YEAH, THAT'S GOOD.
AND THEN YOU CAN, OR DO YOU WANT ME TO CONTINUE ONTO THAT CAPITAL BUDGET? UH, LET ME SEE.
LET'S, LET'S SEE IF DIRECTOR, LET'S SEE IF DIRECTOR CORBETT HAS ANY OTHER COMMENTS ON THIS SECTION.
DIRECTOR CORBETT, DO YOU HAVE ANY COMMENTS? OTHER COMMENTS YOU WANT TO MAKE? I DON'T SEE HER, JUST, I'LL GIVE HER A SECOND.
I CAN GIVE HER, UH, I CAN GIVE MY COMMENTS.
QUICKLY WHILE WE WAIT FOR DIRECTOR COR,
[01:05:01]
UM, GOING BACK TO THE ORG CHART ON PAGE SEVEN, UH, I DON'T SEE THE DEPUTY GENERAL MANAGER'S.SO THAT IS WITHIN THE GENERAL MANAGER'S OFFICE.
I THINK, UH, CAN WE PUT SOMETHING IN THERE THAT SAYS DEPUTY OR GENERAL? YEAH, I THINK THERE'S SOMETHING NEEDS TO BE SOMETHING THAT MAKES IT CLEAR THAT THE DE DEPUTY GENERAL MANAGER LIES WITHIN GENERAL MANAGER'S OFFICE.
AND THEN, UH, ANOTHER THING I HAD, WHERE'S, OH, I KNOW, UH, ON, UH, ATTACHMENT C ON PAGE, I THINK IT'S PAGE 24, OR YES, PAGE 24.
UM, I FIGURED IT OUT, BUT I, FOR THE, FOR THE BENEFIT OF THE PUBLIC, THERE'S A WHOLE LIST OF, UM, UH, WHAT ARE NEGATIVE NUMBERS ON ATTACHMENT C STARTING ON PAGE 24.
AND I FIGURED OUT IT'S, THEY'RE TRANSFERS FROM, UM, SO IF YOU COULD EXPLAIN THAT FOR THE GENERAL PUBLIC, UH, THAT WOULD BE GREAT.
OR IF THERE MIGHT BE A NOTE SOMEWHERE TO EXPLAIN THAT.
WHERE IS THAT? IT'S ON, UH, ATTACHMENT C, IT, PAGE 24.
SO WE PROVIDED A LIST OF ALL OF THE PROJECTS, AND IT'S IN, SO IT'S ACTUALLY IN THE BUDGET BOOK AS WELL.
AND, BUT IT'S IN A LITTLE BIT LARGER FONT IN THE VERSION YOU HAVE.
AND SO WHAT YOU'RE SEEING IS TAKING FUNDS FROM PROJECTS, AND IN SOME CASES THEY'RE PROJECTS THAT ARE COMPLETE, UH, NO ADDITIONAL WORK AS NEEDED.
THEY HAD FUNDS REMAINING, AND SO THEY'RE BEING ALLOCATED TO, UM, TO A NEW PROJECT THAT NEEDS FUNDING.
AND IN SOME CASES, UM, LIKE FOR EXAMPLE, THERE IS SOME MONEY IN THIS, IN THE EXISTING SWIMMING INFRASTRUCTURE PROJECT THAT'S BEING ALLOCATED TO, UM, TO A PARTICULAR PROJECT.
SO THAT'S WHERE YOU'RE SEEING A NEGATIVE AMOUNT IN SOME PROJECTS.
I TH I THOUGHT IT WOULD BE IMPORTANT TO, TO, TO MENTION THAT IN PUBLIC.
AND MAYBE I SHOULD BE A NOTE IN THE DOCUMENT STATING EXACTLY WHAT THAT IS.
YEAH, I CAN ADD THAT FOR, I CAN ADD THAT FOR FIGURED DECEMBER 5TH MEETING.
I SEE DIRECTOR CORBET, DIRECTOR CORBET, DO YOU HAVE ANY OTHER COMMENTS TO MAKE BEFORE WE GO MOVE ON TO CAPITAL? YOU'RE ON MUTE, I GUESS.
SO IN, IN THE, UM, IN THE, IN, IN THE, IN THE, IN, IN THE INTRODUCTION ON PAGE FOUR THERE, THERE NEEDS TO BE A MAP CORRECTION PUT BECAUSE WE HAVE, UM, PERALTA OAKS NORTH LOCATED IN SAN RAMON.
SO I THINK THAT NEEDS TO BE SHIFTED OVER WEST A LITTLE BIT IN A LITTLE BIT NORTH, MAYBE
UNLESS THERE'S SOMETHING GOING ON THAT I DON'T KNOW ABOUT, IT WOULDN'T BE MORE CENTRALLY LOCATED FOR THE WHOLE DISTRICT.
IT'S LIKE A FREUDIAN SLIP, YOU KNOW? OKAY.
UM, GIMME A MAP AND I'LL LOOK AT IT FOR SURE.
UM, JUST TO, EXCUSE ME FOR GETTING TO WAY DOWN LIKE THIS, BUT I, I REMEMBER, UH, TALKING TO A, AN ARCHITECT A LONG TIME AGO WHEN I WAS WORKING ON A PARK PROJECT, AND THEY, THEY WERE QUICK TO CORRECT ME WHEN, WHEN YOU'RE TALKING ABOUT A DRINKING FOUNTAIN IN A PARK, IT'S A DRINKING FOUNTAIN.
IT'S NOT A WATER FOUNTAIN BECAUSE A WATER FOUNTAIN IS SOMETHING THAT IS LIKE, YOU KNOW, A DIRECT DECORATIVE THING.
SO WE JUST NEED TO BE CONSISTENT ALL THROUGHOUT HERE.
UM, THAT WHENEVER IT'S A DRINKING FOUNTAIN, IT REALLY NEEDS TO BE CALLED A DRINKING FOUNTAIN.
YOU'D BE SURPRISED HOW MANY PEOPLE COME TO CONCLUSIONS ABOUT THINGS, ESPECIALLY IF THEY, IF THEY'RE AN ARCHITECT.
AND THEN, UM, THESE ARE ALL GENERAL, UM, COMMENTS HERE AGAIN, UM, I, I JUST FEEL, I I, I KNOW THAT THIS DOCUMENT IS MUCH IMPROVED OVER THOSE EARLIEST ONES THAT I REMEMBER SEEING IN THE 1990S.
YOU KNOW, BEING IN, IN THE BUSINESS MYSELF, OF PRODUCING A 10 YEAR PLAN FOR A SPECIAL DISTRICT.
YOU KNOW, I ALWAYS FELT LIKE, WELL, GOSH, OURS IS MUCH BETTER THAN THEIRS.
BUT THEN OVER THE, OVER THE YEARS NOW, IT'S WAY BETTER.
UM, IT'S PROBABLY, I DON'T, HAVEN'T LOOKED AT WHAT I USED TO DO WHAT THEY DO NOW, BUT
[01:10:01]
THIS IS GREAT, YOU KNOW, SO IT'S IMPROVED A LOT.UM, BUT I WAS, I WAS JUST READING SOMETHING IN THE PAPER THIS MORNING.
WELL, LET'S TALK ABOUT THE 49 ERS FOR A SECOND HERE, RIGHT? UM, THERE WAS AN ARTICLE ABOUT THAT, AND THERE WAS A, UM, A QUOTE FROM COACH, UH, VINCE LOMBARDI FROM THE, UM, GREEN BAY PACKERS.
AND HE SAID SOMETHING, I'M GONNA REALLY PARAPHRASE THIS LOOSELY, BUT IT WAS, UM,
THAT'S WHAT I, THAT'S THE WAY I LOOK AT THIS.
THIS IS NEVER GONNA BE THE PERFECT DOCUMENT, BUT AS WE KEEP TRYING TO MAKE IT BETTER AND BETTER, IT'S GONNA BE GREATER AND GREATER, YOU KNOW? SO THAT'S, THAT'S REALLY GOOD TO HEAR.
UM, THAT'S THE WAY I LOOK AT IT.
UM, SO, AND, AND ALONG THOSE LINES, LET'S THINK ABOUT, UM, PUTTING MAPS IN FOR THE PROJECT LOCATIONS AND, AND I'M, I'M NOT EVEN GONNA SAY EVERY SINGLE ONE, BUT MAYBE IT SHOULD BE FOR CONTINUITY, EVERY SINGLE ONE.
BUT THERE'S CERTAIN PROJECTS WHERE I HAD NO IDEA REALLY WHAT, WHERE THEY ARE, AND I COULDN'T FIGURE IT OUT.
SO, UM, THERE'S SPACE AT THE BOTTOM OF THE PAGE, NICE AND NEAT.
PUT A, PUT A, PUT A MAP IN THERE.
UM, IN, IN EACH OF THOSE PROJECTS, UM, IN THE FORMATTING THERE, THERE IS TOTAL PROJECT COST ANTICIPATED, AND THERE'S A DOLLAR AMOUNT THERE.
BUT THEN WHEN YOU LOOK AT THE FIVE-YEAR EXPENDITURE PLAN DOWN BELOW, IT ISN'T ALWAYS REFLECTED IN THAT.
RIGHT? SO WE, UM, WHEN WE SHOW THE, UH, EXPENDITURE PLAN, WE USE ONLY THE EXISTING FUNDS BECAUSE, UM, THAT'S WHAT'S KNOWN.
UM, SO THIS WAS A, THIS WAS A STYLE CHOICE.
WE'VE, WE'VE MADE, UM, IF, IF YOU THINK IT SHOULD BE DIFFERENT, UH, WE COULD, WE COULD CHANGE THAT.
BUT THAT, THAT IS WHAT YOU'RE SEEING.
SO YOU'RE ONLY SEEING US BUDGETING OUT FOR FIVE YEARS, THE MONEY WE ALREADY HAVE, NOT THE FULL MONEY THAT WE'RE HOPING TO RECEIVE AT SOME POINT TO FINISH THE PROJECT.
AND I, I THOUGHT THAT WAS GONNA BE THE REASON.
SO I WILL, I WILL COUNTER WITH, UM, THIS IS A PLAN.
IT'S NOT, YEAH, IT'S NOT A PROMISE THAT WE'RE GONNA DO IT.
YOU'RE GONNA HAVE A CHANCE TO UPDATE IT NEXT YEAR AGAIN.
SO I THINK IT WOULD BE CLEARER IF, IF YOU KNOW, THE PROJECT MANAGERS, I KNOW THEY HAVE THE ABILITY TO DO THIS YEAH.
TO ESTIMATE WHEN THOSE EXPENDITURES ARE GOING TO HAPPEN, AND KNOWING THAT THEY'LL HAVE A CHANCE TO UPDATE IT NEXT YEAR.
'CAUSE IT'S, IT'S, IT'S, IT'S THINGS THAT ARE OUT IN THE FUTURE, AND WE'RE NOT THERE YET.
BUT, UM, YOU KNOW, FOR ME AND FOR OTHER FOLKS WOULD APPRECIATE SEEING HOW THAT, WHAT THE IDEA IS FOR HOW THAT MIGHT GO.
WE CAN, WE CAN MAKE THAT CHANGE.
AND I JUST, I JUST DON'T LIKE IT WHEN NUMBERS DON'T TIE TOGETHER.
AND YOU CAN, YOU CAN HAVE THEM TIE TOGETHER BY DOING THAT.
AGAIN, IF YOU COME UP WITH A REASON NOT TO DO IT, TELL ME, AND I'LL PROBABLY AGREE, YOU KNOW.
SO ANNUAL OPERATING COST IS SHOWN HERE, IN SOME CASES, DOWN TO THE DOLLAR.
AND I REALLY DON'T KNOW ANYBODY WHO CAN DO THAT.
IT'S NOT, IT'S, IT'S, IT'S, IT'S A, IT'S A, IT'S KIND OF DISINGENUOUS TO THINK THAT WE'RE REALLY, WE REALLY KNOW DOWN TO THE DOLLAR.
SO I WOULD SUGGEST THAT THOSE BE ROUNDED TO THE NEAREST THOUSAND OR NEAREST 10,000.
I, I, I THINK THAT CAN BE DONE WITHOUT TOO MUCH DEFINITELY, UH, EFFORT.
SO NOW, UH, ONTO SPECIFIC, UM, PROJECTS.
SO ON, UH, PAGE E FIVE, SO THIS IS SOMETHING THAT CAME UP A FEW TIMES.
UH, E FIVE IS, UM, THE RI THE BIG RIDGE TRAIL PROJECT THAT WE'RE DOING.
AND THERE'S NO, UNDER, UNDER THE PROJECT DESCRIPTION, THERE'S NO MENTION OF THE MILEAGE OF THAT TRAIL PROJECT.
SO I THINK THAT WOULD BE HELPFUL TO INCLUDE THE, THE TRAIL MILEAGE.
UM, AND, AND I WOULD EXTEND THAT TO EVERY, ANY PROJECT THAT HAS A LINEAR NATURE TO IT, YOU KNOW, LIKE A TRAIL OR A SEWER LINE OR ANYTHING.
I THINK IT'S USEFUL TO PROVIDE HOW LONG OF A REACH IT IS THAT YOU'RE PROVIDING IN THAT PROJECT.
OH, THIS IS JUST A MATTER OF, UM, THE TEXT WASN'T, WASN'T UPDATED.
IT TALKS ABOUT SOMETHING IN THE FUTURE THAT'S ALREADY HAPPENED ON THE DESCRIPTION.
[01:15:01]
AT THAT FOR, FOR TENSE, PROPER TENSE.UM, AND ALSO THE TITLE'S CUTOFF.
I THINK YOUR TITLE FIELD NEEDS TO BE A LITTLE LONGER.
UM, LET'S SEE, UH, THIS IS A, I THINK THIS NEXT ONE'S KIND OF A TECHNICAL QUESTION, UH, ON THE ACTUAL PROJECT ITSELF.
UM, SO THIS IS, UM, REPLACE SOLAR PANELS HERE, AND IT HAS A ONE SENTENCE PROJECT DESCRIPTION.
I THINK IT WOULD BE USEFUL TO KNOW WHY THEY'RE BEING REPLACED.
SO MAYBE WE CAN GET A LITTLE MORE INFORMATION ON THERE.
UM, AND, AND I'LL JUST, I'LL JUST SAY AS A GENERAL QUESTION THROUGHOUT THE DOCUMENT, THAT IS A LITTLE BIT INCONSISTENT AS TO, UH, THE LEVEL OF DETAIL THAT'S PROVIDED.
I, I, I, I, I KNOW I, AGAIN, I KNOW HOW THIS WORKS.
YOU'VE GOT ALL THESE DIFFERENT PROJECT MANAGERS AND THEY ALL HAVE THEIR OWN IDEA OF HOW THIS SHOULD BE, BUT THERE NEEDS TO BE AN EDITOR THAT LOOKS AT IT ALL FROM A HIGHER LEVEL.
AND SO, UM, I THINK WE NEED MORE THAN ONE SENTENCE WHEN WE HAVE THE SPACE TO PROVIDE THAT.
UM, SO NOT JUST THIS ONE, BUT OTHER ONES IN THE FUTURE.
I THINK ONE SENTENCE IS GENERALLY NOT ENOUGH TO REALLY CONVEY WHAT WE NEED TO CONVEY.
AND, AND, AND A LOT OF THE TIMES IT'S JUST BLOWING OUR OWN HORN FOR HOW GREAT THIS IS.
YOU KNOW, WE, WE WE'RE LOSING THE OPPORTUNITY TO SAY, HERE'S WHY WE'RE, WHY WE'RE DOING IT.
HEY, AREN'T WE SMART? WE'RE DOING THIS NOW TO AVOID A PROBLEM LATER, OR WHATEVER IT IS, YOU KNOW, UM, TO BE A LITTLE MORE, UM, AGGRESSIVE IN DESCRIBING OUR PROJECTS.
'CAUSE THEY'RE GREAT PROJECTS.
UM, YEAH, AGAIN, E ON E 50 CONSTRUCT PLEASANTON RIDGE TRAILS DOESN'T, DOESN'T GIVE THE MILEAGE THERE.
UM, THE NEXT PAGE ON POINT, ISABEL, UM, THERE'S NOT MUCH DESCRIPTION THERE.
UM, YOU KNOW, I THINK IT'D BE IMPORTANT TO DESCRIBE THAT A LITTLE MORE FULLY, UM, ON E 52.
THE NEXT PAGE AFTER THAT, UM, I'D LIKE, UM, I THINK IT'S, UH, IMPORTANT TO TELL THE FOLKS THAT THAT PROJECT IS BEING BUILT FOR SEA LEVEL RISE.
IT DOESN'T SAY THAT THERE, AGAIN, THIS IS A CHANCE FOR US TO, TO SHOW THAT WE'RE THINKING AHEAD AND WE'RE FOLLOWING OUR OWN RULES.
UM, BUT, BUT, BUT WE NEED TO, YOU KNOW, WE NEED TO SPELL IT OUT.
I THINK WE SHOULD SAY THAT WE'RE INCLUDING SEA LEVEL RISE IN THERE.
UM, UM, E 55 POINT SAN PABLO PENINSULA.
UM, IT, THE, THE, THE ONLY CLUE AS TO WHAT THIS PROJECT IS, IS SEEKING TO PRESERVE, WHICH IS PRETTY VAGUE.
UM, IT REALLY DOESN'T TELL US WHAT $150,000 IS BEING USED FOR.
SO I'D LIKE TO SEE SOMETHING A LITTLE BIT.
'CAUSE I DON'T KNOW, I REALLY DON'T KNOW WHAT THAT IS.
YOU KNOW, MAYBE I DO, AND I DON'T KNOW THAT I KNOW IT, BUT THIS DOESN'T TELL ME.
E 60, UM, RECOMMISSIONED ROUND VALLEY RESIDENTS.
I DON'T, I DON'T REALLY KNOW WHAT THAT IS.
UM, WHAT IS RECOMMISSIONED CURRENT MODULAR RESIDENCE? UM, SOUNDS LIKE IT MEANS IT'S GONNA BE USED FOR SOMETHING ELSE, BUT WHY DON'T WE JUST SAY WHAT THAT IS AND LET'S SEE.
EE 62, UM, IT GIVES THE FULL COST AS FIVE HUNDRED FIFTY THOUSAND FIVE HUNDRED THIRTY THOUSAND NINE HUNDRED TWENTY NINE DOLLARS.
AND IT'S MY UNDERSTANDING THAT THAT'S NOT REALLY THE FULL COST OF THAT PROJECT.
THERE'S, THERE'S MORE, A LOT MORE TO IT THAN THAT.
AND I DON'T KNOW WHY THAT'S SHOWN AT THAT LEVEL, BUT, UM, I DON'T KNOW IF YOU COULD GET BACK TO ME LATER ON THAT OR NOT.
I'LL CHECK INTO THAT, BUT IT DOES SAY IT'S 0.4 MILES, SO I LIKE THAT
OH, THE, THE, THE NEXT PAGE, UM, IS AN EXAMPLE, UM, OF A PROJECT THAT IF IT HAD A MAP, IT'D BE USEFUL BECAUSE IT'S, IT'S NOT CLEAR TO ME EXACTLY WHERE THAT IS AND HOW IT WOULD HELP US.
[01:20:01]
THAT'S JUST AN EXAMPLE.AND THEN, UH, THE NEXT PAGE, 64, UM, IT'S MY UNDERSTANDING THAT THAT PROJECT IS COMPLETE.
UM, SO WHY IS IT STILL A PROJECT? IT LOOKS LIKE THERE'S 9,000 PLUS DOLLARS THERE.
DOES, DOES ANYBODY KNOW THAT ANSWER TO THAT? I DO NOT, BUT I WILL GET BACK TO YOU.
AGAIN, HERE'S ANOTHER, ANOTHER EXAMPLE, UH, OF A, A LARGE PROJECT WITH A VERY SMALL DESCRIPTION.
UM, IT DOES GIVE THE, THE LENGTH OF THE PROJECT, BUT IT REALLY BEGS THE QUESTION, YOU KNOW, AND I, I KNOW, I ACTUALLY KNOW THE ANSWER TO THIS ONE.
IT'S 0.75 MILES, BUT IT'S $11 MILLION.
SO WHY DON'T WE DESCRIBE IN THAT, IN, DESCRIBE THERE WHY IT'S SO, WHAT, WHAT, WHAT THE CHALLENGES ARE AND WHAT WE'RE GONNA OVERCOME WHEN WE BUILD THAT IN ORDER TO PROVIDE A, A GREAT TRAIL FOR EVERYBODY.
UM, ON E 68, I, UM, IT, IT'S TALKING ABOUT, UM, ADDITIONAL FUNDING.
IT, IT SAYS ON FUNDING STATUS, ADDITIONAL FUNDING TO BE DETERMINED, UM, BUT IT DOESN'T REALLY GIVE THE PROJECT COST.
SO THOSE ARE TWO DIFFERENT THINGS.
PROJECT COST AND FUNDING TO BE DETERMINED.
UM, I, I SUSPECT STRONGLY SUSPECT THAT ALL THAT STUFF DESCRIBED UNDER THE DESCRIPTION, WHICH IS GREAT, IS MORE THAN A HUNDRED THOUSAND DOLLARS.
SO IF, IF WE CAN FIGURE OUT A WAY TO PRESENT WHAT THE COST MIGHT BE AT THIS POINT IN TIME FOR ALL THAT, I THINK THAT WOULD BE GOOD FOR THAT PROJECT.
ON, UH, E 71 SNO WILDERNESS, UH, IMPROVEMENT, UM, OR SNO IMPROVEMENTS, IT SAYS UNDER THE DESCRIPTION, UM, PER THE NEGOTIATED SETTLEMENT WITH THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION.
UM, MAYBE WE COULD PUT A SENTENCE IN THERE ABOUT WHAT THAT IS.
IT JUST SORT OF BEGS THE QUESTION.
UM, THIS IS SIMILAR TO, UH, ONE OF THE PREVIOUS ONES I HAD.
SO, THURGOOD MARSHALL REGIONAL PARK, HOME OF THE PORT CHICAGO 50.
WE'RE DOING, UM, THE INITIAL CONSTRUCTION OUT THERE, UM, SOUTH OF BAILEY ROAD.
UM, WE'VE GOT A $10 MILLION, UM, PROJECT COST HERE.
UM, BUT WE REALLY DON'T SAY WHAT IT IS THE $10 MILLION IS GONNA BUY.
AGAIN, THIS IS SIMILAR TO WHAT I SAID EARLIER.
YOU KNOW, LET'S, LET'S, UH, LET'S LET, WHEN PEOPLE READ THIS DOCUMENT, THEY FIND THAT PROJECT, THEY LOOK, READ THIS, THEY CAN SEE WHAT ARE THEY GONNA GET IN A FEW YEARS, YOU KNOW, AND THEN, UM, UNDER PERSONNEL, IT SAYS 12.32 FTES.
AND I'M WONDERING IF THAT'S FOR WHEN THE, IT'S HARD TO IMAGINE THAT THAT'S JUST FOR THE SOUTH OF BAILEY, OR DOES THAT REFER TO THE WHOLE PARK WHEN IT'S OPEN? UM, AND THEN IS, AND, AND THAT'S BECAUSE, UM, I THINK THE $10 MILLION IS JUST FOR THE BAILEY ROAD PORTION.
SO THAT NEEDS TO BE KIND OF SORTED OUT A LITTLE BIT.
IT'S LIKE, WHAT ARE WE TALKING ABOUT HERE ON THIS PROJECT? UM, AND THEN ON THE NEXT PAGE, YEAH, I'M NOT SURE.
I THINK THIS ONE, UM, THE TRAIN MIGHT HAVE LEFT THE STATION ON THIS ONE, BUT
SO INSTEAD OF SAYING WE'RE TAKING SOMETHING AWAY, THE CROSSING, WE SHOULD BE SAYING WE'RE BUILDING A BRIDGE, WHICH IS A CONNECTION WHICH IS HELPING THE WILDLIFE AND THE TRAIL USERS.
BUT, UM, AND IT DOES SAY THAT IN THE DESCRIPTION, BUT THE FIRST THING YOU SEE IS REMOVING A CROSSING.
AND IT'S LIKE, THAT'S KIND OF A RED FLAG THING TO ME.
[01:25:02]
LET'S SEE.EE 82 IS LIKE, I CAN'T RESIST MAKING A COMMENT HERE ON THIS, UM, JEWEL LAKE.
I WENT THERE ON A HIKE WITH MY WIFE, AND IT, IT, THERE'S NOT MUCH OF IT LEFT, YOU KNOW, AND IT'S KIND OF FILLED IN.
SO I, I KEEP THINKING ABOUT MIRROR LAKE AND IN, IN YOSEMITE, WHICH IS NATURALLY TURNING INTO A MEADOW OVER TIME, AND EVERYBODY KNOWS IT'S GONNA BE A MEADOW, UH, ALL, ALL YEAR.
UM, IT'S, IT'S SEASONALLY A MEADOW NOW, BUT IF YOU LOOK AT PICTURES FROM LIKE 1865, IT'S A LAKE.
YOU LOOK AT PICTURES NOW AND IT'S GOT GRASS GROWING, AND IT'S JUST, SO I'M WONDERING IF THAT, MAYBE IT'S, IT'S THE TIME HAS COME FOR JEWEL LAKE TO BECOME A MEADOW.
UM, THERE'S, I KNOW THERE'S OTHER CONSIDERATIONS THAT NEED TO BE MADE TOO.
UM, AND THEN, UM, MOVING ON TO THE PROGRAM'S BUDGET, F TWO, UM, I HAVE A PARTICULAR PARTICULAR BEEF WITH YELLOW STAR THISTLE FOR MANY YEARS.
AND SO, UH, I KINDA LIKE TO SEE THAT AS A, AS A, UH, YOU KNOW, YOU HAVE ALL THESE PROGRAMS GOING ON THERE AND HABITAT PRESERVATION, IF WE COULD CALL THAT OUT AND GO AFTER IT.
AGAIN, I KNOW WE HAVE IN THE PAST, WE'VE BURNED AND DONE ALL KINDS OF STUFF, BUT, UH, I SUSPECT THAT WE'VE WALKED, KIND OF WALKED AWAY FROM THAT A LITTLE BIT AND WE NEED TO GET BACK TO IT 'CAUSE IT SPREADS.
SO, UM, IF YOU COULD TALK TO THE FOLKS IN THAT AREA IF THEY WANT TO DO THAT.
UM, AND IF THEY DO, I WOULD SUPPORT IT.
I'M NOT SAYING THEY'RE DOING NOTHING NOW, I JUST, RIGHT.
I JUST, YOU KNOW, IT, IT'S NOT CALLED OUT.
AND I, AND I, I, I THINK IT'S IMPORTANT TO A LOT OF FOLKS, UM, PUBLIC COM, COM PUBLIC COMMITMENTS, GG ONE.
UM, SO I JUST THINK WE, WE, WE, WE GO THROUGH THIS DOCUMENT, WE COME TO THIS PAGE THAT SAYS PUBLIC COMMITMENTS, AND WE TURN THE PAGE AND THERE'S, THERE'S ALL THESE, UM, ALL THESE, UM, PROJECTS BASICALLY.
UM, SO I THINK THIS COULD BE USED SOME EXPLANATION, UM, BEFORE WE GET INTO ALL THOSE PROJECTS AS TO WHAT THIS REALLY MEANS.
AND THEN ON THE, ON THE, UH, PAGE G THREE, THERE'S A BREAK THERE, THERE'S SOME PROJECTS AND THERE'S A BREAK.
AND THEN THE SAME FORMATTING HAS OTHER PROJECTS, AND I DON'T KNOW WHAT THE DIFFERENCE BETWEEN THOSE TWO ARE.
SO YOU, YOU SEE HOW YOU GET LIKE TWO THIRDS OF THE WAY DOWN AND IT STARTS OVER AGAIN.
THE LIST STARTS OVER AGAIN, SLIGHTLY FORMATTED, SLIGHTLY DIFFERENTLY, BUT I DON'T KNOW WHAT THE DIFFERENCE BETWEEN THOSE TWO IS.
UH, SO MAYBE YOU SOME LINE OF EXPLANATION IN THERE WOULD BE, UM, WOULD BE GOOD.
YOU GET A GOLD STAR FOR DOING YOUR HOMEWORK.
I HAVEN'T DONE TOMORROW'S HOMEWORK YET, THOUGH.
UH, SO, UH, UH, I AGREE WITH SOME GENERAL STATEMENTS YOU MADE ABOUT, YOU KNOW, UM, IN SOME OF THE DESCRIPTIONS FOR THE, IN, UM, IN THE, UH, IN THE E THE SECTION E MM-HMM.
'CAUSE A LOT OF THOSE, A LOT OF THOSE HAVE ALREADY BEEN COMPLETED.
UH, PARTS OF THOSE PROJECTS HAVE BEEN COMPLETED.
AND SO IT WOULD BE HELPFUL FOR THE PUBLIC TO KNOW THAT THESE HAVE BEEN, THESE MONIES HAVE BEEN SPENT AND THIS PART IS, IS DONE, AND NOW WE'RE INTO PHASE TWO OR WHATEVER.
I THINK THAT WOULD BE VERY HELPFUL.
UM, AND IN GENERAL, I THINK I PRETTY MUCH AGREE WITH DIRECTOR MECURIO.
UH, I THINK WE'LL HAVE A DISCUSSION OVER THE, UH, THE, UH, UH, SPONSORSHIPS.
UH, THE, WE DO, I MEAN, THE BOARD HAS, IT HAS ITS OWN LIST AS WELL.
BUT, UH, IN MY, IN MY VIEW, I DON'T THINK WE SHOULD BE SUB SUBSIDIZING A, A PRIVATE, A PRIVATE ENTERPRISE.
AND I, THAT'S WHAT, TO ME, BAY AREA BACK ROADS IS A, IT'S A, IT'S A, IT'S A PRIVATE ENTERPRISE.
SO, BUT WE'LL HAVE THAT DISCUSSION, I THINK AT THE FULL BOARD.
UM, WELL, THERE IS A SPONSORSHIP POLICY, AND I DON'T BELIEVE THAT BAY AREA BACK ROADS HAS BEEN ASKING FOR ANY CONTRIBUTIONS FROM THE PARK DISTRICT.
[01:30:02]
IF, YOU KNOW, THAT'S, THAT'S ANOTHER THING IS THAT WE DON'T OFFER MONEY.I DON'T BELIEVE DOUG MCCONNELL IS WORKING FOR BAY AREA BACK ROADS ANYMORE.
BUT, UM, YEAH, WE'LL HAVE THAT DISCUSSION, UH, AND THEN, UM, AND I THINK, UH, I THINK YOU'LL BE LIKE UPSET, UH, ACCEPTING, UM, UH, MORE COMMENTS AS, AS WE GO ON.
I'M SURE YOU'LL BE GETTING IT FROM THE, FROM THE, FROM THE REST OF THE BOARD AS WELL.
SO, UH, IF YOU MISS SOMETHING TODAY,
THIS IS A TREMENDOUS AMOUNT OF WORK AND WE REALLY APPRECIATE IT.
THERE'S A LOT OF DETAIL HERE, AND, UH, IT IS, UH, AND FOR ME, I THINK, YOU KNOW, THAT THIS IS MY SEVENTH YEAR, UH, ON THE BOARD.
SO THE, THESE PACKETS HAVE BEEN GETTING EASIER TO READ AND I REALLY APPRECIATE THE FOOTNOTES, UM, AND THE BIGGER FONT AND SOME OF THE, UH, AND THAT'S ONE OF THE THINGS I, THAT'S A BENEFIT READING THESE ON ONLINE IS WITH THE TOUCH OF THE SCREEN.
I CAN MAKE IT BIGGER,
BUT THIS IS TREMENDOUS AMOUNT OF WORK AND I REALLY APPRECIATE THE AMOUNT OF DETAIL AND, UH, GETTING THESE TO US ON TIME.
UM, SO WE REALLY APPRECIATE THE, THE WORK THAT'S GOING.
AND THEN THOUGHT THERE'S A LOT OF THOUGHT GOING INTO THIS.
ALL OF YOU, UH, THAT HAVE BEEN A PART OF THIS.
EVERY DEPARTMENT, I'M, I KNOW AS A PARK SUPERVISOR, I HAD TO, UH, PUT ON, PUT IN MY INPUT TOO,
SO I APPRECIATE THE WORK AND, UM, AND THANK YOU FOR THE FORMAT FORMATTING AND GETTING IT TO US, AND WE'LL BE PUTTING IN OUR QUESTIONS, SO, ALL RIGHT.
THANK YOU FOR ALL OF YOUR FEEDBACK SO FAR.
YEAH, HE GETS A GOLD, I WOULD SAY A LOT.
I WOULD, HELLO? YES, WE CAN HEAR YOU.
I WASN'T SURE THAT WE WERE GONNA GO THROUGH EACH ONE OF THESE, UH, PROJECTS, BUT I WOULD JUST THROW A COUPLE TO YOU THAT I WANNA CONTINUE HAVING INFORMATION ON.
AND ONE OF COURSE IS THE ROBERT CRAN MEMORIAL STATE BEACH REGIONAL SHORELINE.
UH, YOU KNOW, THE PHOTOS THAT YOU INCLUDE WITH THESE PROJECTS ALWAYS GIVE YOU A GREAT IDEA OF WHAT NEEDS TO BE DONE,
SO, UM, YOU KNOW, I WOULD LIKE TO HAVE SOME MORE CONVERSATION ABOUT THE ROBERT CROWN MORAL STATE BEACH SITUATION ALONG THE, UH, YOU KNOW, WHERE WE HAVE THE STREET THAT GOES DOWN TO THE SHORELINE, AND WE HAVE SOME ISSUES TO DEAL WITH.
WE'VE BEEN WORKING TOWARDS IMPROVING THEM, BUT THAT'S A SPOT THAT'S GONNA ALWAYS NEED A
AND THEN ALSO MARTIN LUTHER KING REGIONAL SHORELINE, AND, UM, YOU KNOW, ADDITIONAL FUNDING THAT'S GONNA BE NEEDED TO COMPLETE PROJECTS ALONG THE MARTIN LUTHER
IT'S A GREAT, UH, YOU KNOW, NATURAL AREA THAT PROTECTS THAT, YOU KNOW, THE, THE ANIMALS IN THAT AREA AND SOME WHICH ARE VERY IMPORTANT TO TAKE CARE OF.
UH, BUT TO CONTINUE TO DO WHAT WE NEED TO DO TO HAVE THAT SHORELINE NED PARK, UM, LOOK A LOT, A LOT BETTER THAN IT DOES.
WE'VE HAD THE RECENT IMPROVEMENTS, UH, BUT WE HAVE ADDITIONAL WORK TO BE DONE ALONG THE SHORELINE AREAS THERE.
UM, AND THAT'S WHAT I WOULD ADD, AND I'LL HAVE MORE TO TALK ABOUT LATER.
I'M SORRY MY VOICE DOESN'T ALLOW ME TO TALK ABOUT TOO MUCH, BUT THANK YOU VERY MUCH FOR EVERYTHING THAT YOU'VE INCLUDED.
UH, ARE THERE ANY PUBLIC COMMENTS ON THIS ITEM? I DON'T SEE ANYTHING HERE IN THE ROOM.
ANYTHING ON, UH, NO EMAILS EITHER.
I'M SURE YOU'LL BE GETTING MORE INPUT AS THE DIRECTORS OPEN THEIR PACKETS.
WE NEED A RECOMMENDATION? OH, YES, THAT'S RIGHT.
SOMETHING AS SIMPLE AS, UH, I MOVE THAT WE, WE RECOMMEND THIS TO THE FULL BOARD.
DOES THAT WORK? MM-HMM,
WE HAVE A, A MOTION AND A SECOND.
THANK YOU GUYS FOR COMING DOWN.
THE NEXT ITEM IS, UH, RELATED AND THAT'S THE GAN
[01:35:01]
LIMIT.UM, LEMME PULL THE PRESENTATION UP AGAIN.
YEAH, THIS SHOULD BE A PIECE OF CAKE, ALMOST THERE.
OH, AND I NEED TO SHARE MY SCREEN.
UM, SO THE NEXT ITEM IS THE PROPOSED, UH, GAN LIMIT FOR 2024.
SO EVERY YEAR, UH, THE STATE OF CALIFORNIA REQUIRES US PER, UM, ARTICLE 13 B OF THE STATE CONSTITUTION TO CALCULATE WHAT IS OUR APPROPRIATION LIMIT.
SO THE MOST THAT WE ARE ALLOWED TO SPEND.
UH, AND SO A CALCULATION WAS IT WAS COMPLETED, AND THAT IS ON FILE WITH THE CLERK OF THE BOARD.
AND THIS YEAR, OUR, THE MOST THAT WE COULD SPEND IS 527.7 MILLION.
UM, THAT'S AN INCREASE FROM LAST YEAR'S APPROPRIATION LIMIT OF 509.8 MILLION.
AND THE WAY WE CALCULATE THAT IS YOU TAKE LAST YEAR'S APPROPRIATION LIMIT, AND THEN YOU, UH, CALCULATE THE PERCENTAGE CHANGE IN PER CAPITA INCOME, AND THE STATE POPULATION ESTIMATE IS PROVIDED BY THE STATE.
THEN YOU LOOK AT WHAT YOUR APPROPRIATIONS ARE, THAT, THAT FALL WITHIN THIS CATEGORY OF, UM, SUBJECT TO THE GAN LIMIT.
AND SO THOSE APPROPRIATIONS ARE 194.5 MILLION.
SO WE ARE WELL WITHIN OUR GAN LIMIT AS AS WE ALWAYS ARE.
AND IT'S BECAUSE WE SPAN SUCH A HUGE AREA THAT WE HAVE A LOT OF POPULATION TO SERVE.
UM, SO THAT CALCULATION IS ON FILE WITH THE CLERK OF THE BOARD, AND, UM, AND IT WILL BE INCLUDED IN THE, UM, PACKET TO THE BOARD.
AND SO WE ARE REQUESTING THAT THE FINANCE COMMITTEE, UH, APPROVE THIS ITEM TO GO TO THE FULL BOARD.
ANY DISCUSSION? SO, MOVED, MOVED BY DIRECTOR CORBETT.
UH, NEXT UP IS THE, UM, OH, SORRY.
YOU SHOULD BE TELLING ME WHAT'S NEXT UP,
WE'RE, WE'RE TAKING THINGS SLIGHTLY OUT OF ORDER FROM THE AGENDA AGAIN.
UM, SO WE HAVE STAFF HERE FROM PFM, UM, TO WALK US THROUGH OUR THIRD QUARTER INVESTMENT REPORT.
UM, SO MONIQUE SPIKE IS HERE, AND JUSTIN UE IS, UH, ALSO HERE TO, UM, WALK YOU THROUGH OUR THIRD QUARTER.
SO I'LL, I'LL DO A QUICK SUMMARY, UM, LOOKING AT ALL OF THE DISTRICT'S INVESTED FUNDS, AND THEN TURN IT OVER TO MONIQUE TO, UM, GET INTO MORE DETAIL ABOUT THE FUNDS THAT THEY MANAGE, WHICH IS THE, THE MAJORITY OF THE PORTFOLIO.
UH, SO THERE'S A, A PAGE IN THE PACKET THAT, UM, HAS A BIG TABLE WALKING THROUGH ALL OF THE DISTRICT'S FUNDS.
AND SO JUST TAKING IT FROM THE TOP OF THAT PAGE DOWN, UM, AT THE TOP WE HAVE OUR LIQUIDITY PORTFOLIO.
SO THOSE ARE THE FUNDS THAT ARE EITHER CASH OR EASILY CONVERTIBLE TO CASH.
THE BIG CHANGE IN QUARTER THREE WAS THAT OUR BANK WAS ACQUIRED BY BANK OF MONTREAL.
IT ACTUALLY HAPPENED EARLIER IN THE YEAR, BUT THE TRANSITION HAPPENED SEPTEMBER 3RD, I THINK.
UM, SO THERE WAS A LOT OF WORK BEHIND THE SCENES BY FINANCE STAFF, UH, THANK YOU TO FINANCE STAFF, UH, WORKING TO MAKE THAT TRANSITION.
UM, AND, BUT, AND YOU CAN SORT OF SEE IT ACTUALLY THAT THE ACCOUNT BALANCES ARE A LITTLE BIT HIGHER IN QUARTER THREE, UM, THAN NORMAL AS WE'RE TRYING TO MANAGE THE, UM, CASH FLOW AND JUST TAKE INTO CONSIDERATION WORST CASE SCENARIOS.
UM, AND THEN THE OTHER BIG THING YOU CAN NOTICE IN QUARTER THREE IS THAT WE'RE DRAWING DOWN ON OUR CAMP ACCOUNT.
UM, SO WE RECEIVE PROPERTY TAXES IN TWO, TWO TIMES IN THE YEAR, APRIL AND DECEMBER.
AND SO IN QUARTER THREE, WE'RE MOSTLY JUST DRAWING DOWN ON OUR FUNDS AND NOT REALLY RECEIVING MUCH, UM, INCOME DURING THAT TIME.
UH, AND SO THIS NEXT SECTION IS LOOKING AT OUR INVESTED PORTFOLIO.
SO PFM WILL GET INTO MUCH MORE DETAIL ABOUT THIS, BUT THE BIG TAKEAWAYS THAT YOU CAN SEE HERE AT THE, AT THE MACRO LEVEL, YES, DECREASED HOLDINGS IN TREASURIES, AND THEN INCREASED INVESTMENTS IN FEDERAL AGENCIES AND ASSET BACKED SECURITIES.
[01:40:01]
THEN LASTLY, LOOKING AT OUR FUNDS HELD IN TRUST.SO THESE ARE, UM, BOTH OUR PENSION TRUST AND THEN OUR PROJECT BOND FUNDS, AND THEN OUR DEBT SERVICE FUNDS.
THE TWO, UH, THINGS THAT YOU CAN SEE MOST CLEARLY HERE, I THINK, ARE THAT WE DID OUR DRAW, UH, AS EXPECTED WE DREW 2 MILLION FROM THE PENSION TRUST THIS YEAR, AS, AS YOU SAW, WE'LL BE DOING THAT AGAIN IN 2024.
UM, AND THEN THE OTHER BIG CHANGE YOU CAN SEE IS THAT OUR, UH, DEBT SERVICE FUNDS DROP DOWN SIGNIFICANTLY.
'CAUSE WE MADE OUR BIG DEBT SERVICE PAYMENT IN SEPTEMBER.
UM, SO THOSE ARE THE MAIN TAKEAWAYS.
SO, UM, I'LL TURN IT OVER TO PFM, AND THEN AT THE, AT THE CONCLUSION OF THEIR PRESENTATION, WE'LL, UH, ASK FOR A RECOMMENDATION.
AND I THINK YOU'LL NEED HELP PULLING UP THE, LEMME SEE IF I CAN HELP YOU WITH THAT.
SO I'M GOING TO SHARE MATERIALS FOR THOSE ONLINE AND LET'S GET RID OF THIS.
I BELIEVE EVERYBODY CAN SEE THE PDF DOCUMENT.
I'M JUST GONNA KEEP IT IN THIS FORMAT AS I DON'T KNOW HOW TO DO, UH, FULL VIEW.
THANK YOU SO MUCH, UH, FOR HAVING US HERE.
UH, WE'RE GONNA SPEND A COUPLE OF MOMENTS TALKING ABOUT THE INVESTMENT QUARTER.
UH, KEEP IN MIND, UH, THIS REPORT IS FOR THE QUARTER ENDED SEPTEMBER 30TH, AND I THINK IT'S REALLY NOTABLE HOW MUCH THINGS HAVE SHIFTED IN THE MARKET SINCE THEN.
UH, SO I'LL SPEAK ABOUT THE QUARTER AND I'LL DO MY BEST TO BRING US CURRENT TO WHERE WE ARE.
UM, SO I'LL START WITH THE MARKET UPDATE.
UM, NOW ONE THING THAT'S NOTABLE IS THAT MARKET SENTIMENT AT THE END OF THE THIRD QUARTER AT REALLY HINGED ON A COUPLE OF THINGS.
ONE, THERE WAS A BELIEF THAT THE FEDERAL, UH, RESERVE COMMITTEE WOULD INITIATE ONE MORE RATE INCREASE BY YEAR END, UM, AND TWO, THAT RATES WOULD BE, UH, AT THAT HIGHER LEVEL THROUGH THE END OF THE SECOND CALENDAR QUARTER 2024, OR EVEN THROUGH, UH, THE THIRD CALENDAR QUARTER OF 2024.
UM, NOW WHY WAS THAT THE PREVAILING SENTIMENT IN THE MARKET? WELL, ONE, UH, GROWTH WAS MUCH STRONGER THAN EXPECTED, UH, SUPPORTED BY A RESILIENT CONSUMER.
AND WHAT I MEAN BY THAT IS THAT THE FIGURES FOR GDP THAT HAD COME OUT FOR THE FIRST AND SECOND QUARTER WERE EXCEPTIONALLY HIGH.
AND CONSUMER SPENDING DID NOT APPEAR TO BE, UH, LESSENING ABATING OR ANYTHING DESPITE HIGHER INTEREST RATES ASSOCIATED WITH CAR LOANS, HOME EQUITY LINES OF CREDITS, AND OTHER, UH, CREDIT CARD RECEIVABLES, FOR EXAMPLE.
UM, ANOTHER THING THAT LED TO THAT SENTIMENT WAS THE FACT THAT INFLATION, UH, WAS STUBBORNLY AHEAD OF THE FED'S INFLATIONARY TARGET.
UM, NOW WHAT'S INTERESTING IS THAT THE FED HAS AN INFLATIONARY TARGET, WHICH IS 2% ON AVERAGE.
AND BOTH, UH, THE HEADLINE NUMBER AND THE CORE NUMBERS, UH, CONTINUED TO BE ABOVE THAT TARGET.
SO THERE WAS THIS IDEA THAT THE FED STILL HAD MORE WORK TO DO.
UM, THE OTHER THING, UM, THAT HELPED LEAD TO THAT SENTIMENT WAS THE FACT THAT THE LABOR MARKET CONTINUED TO BE EXCEPTIONALLY STRONG.
UH, BEFORE THE END OF THE THIRD QUARTER.
ALL OF THE LABOR REPORTS THAT HAD COME OUT SHOWED THAT UNEMPLOYMENT WAS STILL LOW.
UH, THE ECONOMY WAS STILL ADDING JOBS AT AN INCREDIBLE CLIP.
ALL OF THIS CONTRIBUTED TO THE IDEA THAT THE FED WOULD BE ABLE TO RAISE RATES TO COMBAT INFLATION WITHOUT HARMING THE ECONOMY.
UM, SO TO BE ABLE TO ACHIEVE THAT SOFT LANDING THAT THEY HAD SUGGESTED.
UM, SO WHAT, UH, ACTIVITY DID YOU HAVE, UH, WITH THE FED DURING THE THIRD CALENDAR QUARTER? WELL, THE FED DID RAISE RATES IN JULY, UH, WHICH BROUGHT, UH, THE FED FUND'S TARGET RATE UP TO ITS CURRENT RANGE.
UM, AND THEY DID HOLD THAT RATE STUDY AT THE SEPTEMBER MEETING, BUT AGAIN, UH, THEY SUGGESTED TO THE MARKET THROUGH THEIR DOT PLOT, WHICH IS ESSENTIALLY A SURVEY OF THE VOTING MEMBERS OF THE FED ON WHERE THEY BELIEVE RATES SHOULD BE.
UM, THAT DOT PLOT SUGGESTED THAT WE WOULD SEE ONE MORE RATE HIKE, AND THAT RATE HIKE WAS EXPECTED TO BE, UH, BY DECEMBER.
UM, THAT DOT PLOT ALSO AGAIN SUGGESTED THAT RATES WOULD BE HIGHER FOR LONGER.
IT SHOWED, PERHAPS WE'D SEE TWO RATE CUTS IN 2024.
UM, THE FED PROJECTIONS ALSO SHOWED, UH, A COUPLE THINGS.
ONE, THEY INCREASED THEIR EXPECTATION FOR GDP.
[01:45:01]
DOUBLED IT FROM 1% AT THE JUNE, UH, ECONOMIC PROJECTIONS TO 2.1%.UM, AND THIS, UH, CHANGE JUST REFLECTED AGAIN, THE STRONGER NUMBERS FROM GDP THAT WE HAD SEEN.
UM, THEY ALSO LOWERED THEIR UNEMPLOYMENT PROJECTION FOR, UH, 23 AND 24.
AND AGAIN, THAT JUST REFLECTED THE BETTER THAN EXPECTED DATA THAT WAS COMING OUT OF THE MARKETS.
UM, NOW OTHER THINGS THAT HAPPENED IN TERMS OF AN ECONOMIC SURVEY WAS, UH, INTEREST RATES REACHING THEIR HIGHEST LEVELS OVER THE PAST, UH, 16, 17 YEARS.
UH, THE TWO YEAR, FOR EXAMPLE, ENDED THE QUARTER AT 5.04%.
UM, THERE ARE A COUPLE OF OTHER THINGS HAPPENING IN THE MARKET, OF COURSE, UH, US GOVERNMENT RATING, UH, WAS DOWNGRADED BY FITCH THAT HAD LITTLE IMPACT.
UM, S AND P HAD DOWNGRADED US DEBT TO AA PLUS MANY, MANY YEARS AGO, CITING THE SAME ISSUES THAT FITCH CITED IN THEIR, UM, REPORT.
UM, SO THE MARKET REALLY DID NOT BLINK, UH, SINCE THE END OF THE QUARTER, MOODY'S, UH, HAS LOWERED THEIR OUTLOOK FOR US TREASURY DEBT AND PUT THEM ON RATINGS WATCH NEGATIVE, AGAIN, CITING THE SAME ISSUES THAT FITCH CITED AND S AND P CITED MANY YEARS AGO.
UM, OTHER THINGS TO, UH, TALK ABOUT IS THAT, UH, WE ACTUALLY HAD SOME REDUCED DEMAND FOR LONGER TERM US TREASURY DEBT, UH, CHINA AND JAPAN, WHO WERE, UH, RELIABLE BUYERS OF TREASURY DEBT, UH, PULLED BACK.
UM, SO THAT HAD SOME IMPACT ON THE LONGER END OF THE YIELD CURVE.
AND OF COURSE, UH, AT THE END OF THE QUARTER, WE WERE ALL CONCERNED ABOUT THE FEDERAL BUDGET PROCESS.
UH, WE NOW KNOW THAT THAT HAS BEEN RESOLVED.
UH, SO WHERE DO WE SIT TODAY? UM, WELL, THIS IS THE YIELD CURVE AS OF THE END OF THE QUARTER.
AGAIN, YIELDS WERE AT, UH, NEAR RECORD HIGHS ACROSS THE CURVE, UH, TO YOUR END OF THE QUARTER AT A 5 0 4.
AND THE 10 YEAR AND 30 YEAR WE'RE ALSO UP QUARTER OVER QUARTER.
UM, WHAT'S NOTABLE IS THAT TODAY, MARKET SENTIMENT HAS SHIFTED DRAMATICALLY.
UM, I TOLD YOU THAT THESE YIELDS REFLECTED A MARKET THAT THOUGHT THAT THE FED WAS GONNA INCREASE RATES ONCE MORE.
THEY THOUGHT THAT RATES WERE GONNA BE LONGER, HIGHER FOR LONGER.
WELL, TODAY, MARKET SENTIMENT HAS COMPLETELY SHIFTED.
UM, AND THE REASON FOR THAT IS THAT INFLATION DATA CONTINUES TO FALL SIGNIFICANTLY.
SO WE'RE GETTING A LITTLE BIT CLOSER, UH, TO THAT EXPECTATION THAT WE, UM, WANT RATES TO FALL OR INFLATION TO FALL TO THE FED'S AVERAGE TARGET.
UM, AND BECAUSE INFLATION DATA CONTINUES TO COME IN, POSITIVE INVESTORS, NOW, INVESTORS NOT THE FED, NOBODY'S MADE ANY STATEMENTS FROM THE FED OR THE GOVERNORS, BUT INVESTORS HAVE INTERPRETED THIS DATA TO MEAN THAT THE FED IS ESSENTIALLY AT ITS TERMINAL POINT, UH, FOR INTEREST RATES.
UM, NOW WITH THAT, THE TWO YEAR TREASURY HAS FALLEN FROM THAT 5 0 4 AT THE END OF THE QUARTER TO ITS CURRENT RANGE OF 4.89%.
UH, WE ALSO SAW YIELDS ACROSS THE LONGER END OF THE CURVE AS WELL FALL, UH, THE 10 YEAR AND THE 30 YEAR AS WELL.
SO MARKET SENTIMENT IS NOW THAT, AGAIN, INTEREST RATES ARE AT THEIR TERMINAL LEVELS FOR INCREASES.
AND WHAT'S NOTABLE IS THAT INTEREST RATES ARE NOT GONNA BE HIGHER FOR LONGER.
THE MARKET IS CURRENTLY PRICING IN, UM, AS MUCH AS FOUR RATE CUTS, UH, TO THE OVERNIGHT RATE NEXT YEAR.
UM, SO WE'RE GONNA CONTINUE TO WATCH MARKET DATA, SEE IF WE HAVE ANY COMMENTARY FROM THE FED ABOUT THESE NEW EXPECTATIONS.
UM, NOW FOR THE DISTRICT'S PORTFOLIO, UM, BECAUSE THIS REPORT FOCUSES ON THE THIRD QUARTER, I'LL HIGHLIGHT SOME THINGS.
UM, IN TERMS OF OUR ACTIVITY, UM, SINCE INTEREST RATES WERE AT THEIR HIGHEST LEVELS, WE TOOK THAT AS A BUYING OPPORTUNITY FOR THE PORTFOLIO.
UH, WE REALLY WANTED TO LOCK IN HIGHER YIELDING INVESTMENTS, UH, BEFORE THE FED FINISHED ITS POLICY OF RAISING RATES, BECAUSE WE KNEW THAT ONCE THEY DID, OR ONCE THE MARKET BELIEVED THEY WERE AT THE END, RATES WOULD FALL.
UH, SO WE WERE ABLE TO LOCK IN, UH, VERY ATTRACTIVE HIGH YIELDING INVESTMENTS FOR THE DISTRICT'S PORTFOLIO.
UM, THOSE, UH, PURCHASES ARE GOING TO BE ABLE TO SUSTAIN THE HIGHER EARNINGS LEVELS ON THE PORTFOLIO FOR THE NEXT TWO OR THREE YEARS, UH, WHILE WE GO THROUGH THE LOWER RATE ENVIRONMENT.
UH, SO WE'RE REALLY HAPPY ABOUT THAT.
UM, NOW I DO WANNA TALK ABOUT RETURNS.
YOU'LL SEE IN THE PACKET LATER, WE HAVE A TOTAL RETURN PRESENTATION FOR THE PORTFOLIO.
UM, THE DISTRICT'S PORTFOLIO IS MANAGED AGAINST THE BENCHMARK, UH, WHICH IS THE ONE TO FIVE YEAR US TREASURY INDEX.
UM, AND THE TOTAL RETURN PRESENTATION INCLUDES NOT ONLY THE INCOME YOU RECEIVED OVER THE REPORTING PERIOD, UM, IN THIS EXHIBIT IN PARTICULAR, WE SHOW ON THE LEFT THIRD QUARTER RETURNS, WHICH ARE JUST RETURNS FOR THE THREE MONTHS OF THE QUARTER, AND INCLUDE INTEREST EARNED IN EACH OF THESE INDEXES FOR THAT QUARTER, AND ALSO THE PRICE CHANGE OF THE BONDS IN THE INDEX.
UM, NOW TO PULL OUT AN EXAMPLE FROM THE CHART ON THE LEFT, THE ONE TO FIVE YEAR US TREASURY INDEX HAD A TOTAL RETURN OF 23 BASIS POINTS.
[01:50:01]
THE BONDS WHICH HAVE MATURITIES BETWEEN ONE YEAR AND FIVE YEARS.AND ALL THE US TREASURIES THAT ARE AVAILABLE IN THE MARKET ARE IN THAT INDEX.
UH, MOVING FORWARD TO THE LIGHT BLUE, THE AGENCY INDEX IS THE ONE TO FIVE YEAR AGENCY INDEX AND INCLUDES ALL OF THE FEDERAL AGENCIES THAT HAVE MATURITIES BETWEEN ONE AND FIVE YEARS.
AND SO WHAT DOES THIS TELL US? UH, THIS EXHIBIT TELLS US THAT ACROSS THE BOARD WE HAD POSITIVE RETURNS, MEANING THAT THE INCOME RECEIVED, UM, OVERCAME ANY MARKET VALUE ADJUSTMENTS OR PRICE CHANGES IN THE BONDS IN THE INDEX.
UM, AND FURTHERMORE THAT, UH, WE WERE COMPENSATED FOR HAVING DIVERSIFICATION IN THE PORTFOLIO.
UM, SO THE EAST BAY REGIONAL PARK DISTRICT'S PORTFOLIO INCLUDES A NUMBER OF DIFFERENT SECTORS, UH, FEDERAL AGENCIES, CORPORATE NOTES, UM, ASSET BACKED SECURITIES, UH, FEDERAL AGENCY SECURITIES, FEDERAL AGENCY, MORTGAGE BACKED SECURITIES, AND YOU ARE GETTING THE BENEFIT OF HAVING THAT DIVERSIFICATION IN THE PORTFOLIO.
UM, ON THE LEFT HAND OF THIS EXHIBIT, WE SHOW THE 10 YEAR AVERAGE RETURNS, AND THIS IS THE, UH, 10 YEAR ANNUAL AVERAGE RETURN OF EACH OF THESE INDICES FOR THAT SAME PERIOD.
UM, NOW I, I MADE SOME MENTION OF THE ECONOMIC PROJECTIONS ALREADY IN MY EARLIER COMMENTS, UH, BUT I DO THINK THAT IT'S VERY NOTABLE ABOUT THE FED CHANGING THEIR EXPECTATIONS FOR GROWTH, UM, AND UNEMPLOYMENT, UH, FOR THE QUARTER.
UM, THIS EXHIBIT SHOWS THE FED'S GENERAL ECONOMIC PROJECTIONS, AND I HIGHLIGHT IN THE TOP LEFT THE CHANGE IN REAL GDP.
UM, AND AGAIN, UM, IT DOUBLED FROM ABOUT 1% TO 2.1%, AND THAT SIMPLY REFLECTS THE BETTER THAN EXPECTED NUMBERS WE'VE SEEN COME IN ALL YEAR FOR GDP FOR THE FIRST QUARTER AND THE SECOND QUARTER.
UM, THE FED AT THE END OF THE QUARTER PROJECTED THAT THIRD QUARTER GDP, UM, OR ECONOMISTS PROJECTED THAT THIRD QUARTER GDP WAS GOING TO BE ABOUT 3% ON AVERAGE, AND THAT NUMBER CAME IN AT 4.9%.
UH, SO IT'S JUST REALLY REFLECTIVE OF THE STRONG, UH, RESILIENCY OF THE CONSUMER.
THE FACT THAT OUR, UM, ECONOMY KEEPS MOVING FORWARD.
UM, UNEMPLOYMENT RATE CAME DOWN IN THE FED'S PROJECTION, UH, TO 3.8 TO END THE YEAR.
UH, WE ARE A BIT 10TH OF A PERCENT HIGHER IN THE UNEMPLOYMENT RATE.
UH, BUT THIS AGAIN, JUST SHOWS THAT THE FED, UM, FED'S BELIEF THAT THEIR POLICY IS NOT, UM, AS DELETERIOUS TO THE ECONOMY AS PREVIOUSLY EXPECTED.
UM, OTHER PROJECTIONS ON THE BOTTOM INCLUDES THE FEDERAL FUNDS RATE.
UM, AGAIN, THE MARKET NOW EXPECTS, UH, THE FED TO BE AT THEIR TERMINAL RATE, UH, RATHER THAN GOING A STEP HIGHER.
UM, AND THE FED IS EXPECTING INFLATION, UH, TO END THE YEAR IN ABOUT 3.3%.
AND WE'RE STILL, UM, ON THE WAY, BUT STILL EXPECTING TO SEE SOME MOVEMENT THERE.
UM, I'LL MOVE FORWARD TO THE DISTRICT'S PORTFOLIO AND JUST MAKE A COUPLE OF COMMENTS THERE.
UM, THE DISTRICT'S PORTFOLIO WAS COMPLIANT WITH INVESTMENT, UH, POLICY GUIDELINES DURING THE QUARTER, UM, A SNAPSHOT OF THE PORTFOLIO AS OF SEPTEMBER 30TH.
SO IT WAS ABOUT 144.8 MILLION TOTAL IN THE SECURITIES PORTFOLIO.
AND AS MS. MOLDING STATED IN HER COMMENTS, UH, THIS REPORT FOCUSES ON THE SECURITIES PORTFOLIO AND EXCLUDES THE FUNDS THE DISTRICT HAS IN TRUST AND ALSO EXCLUDES THE DISTRICT'S FUNDS, UH, THAT ARE, UM, IN LIQUIDITY VEHICLES.
UM, A COUPLE THINGS TO HIGHLIGHT HERE.
UM, IN THE STATISTICS ON THE TOP LEFT, THE YIELD AT COST IN THE PORTFOLIO IS A 3.37%.
UH, THAT 3.37% REPRESENTS THE AVERAGE EARNINGS YIELD IN THE PORTFOLIO, AND INCLUDES, UH, THE PURCHASES THAT WE MADE A COUPLE OF YEARS AGO WHEN INTEREST RATES WERE NEAR ZERO AND THE PURCHASES WE MADE DURING THE QUARTER WHEN INTEREST RATES WERE MUCH HIGHER.
UH, WE'RE VERY HAPPY TO SEE THE GROWTH IN THIS METRIC.
UH, THE PORTFOLIO YIELD HAS COME UP SUBSTANTIALLY AS WE WORKED TO RESTRUCTURE THE PORTFOLIO TO TAKE ADVANTAGE OF THESE MUCH HIGHER INTEREST RATES.
UH, THE YIELDED MARKET AT 5.02% REPRESENTS THE AVAILABLE YIELD IN THE MARKET AS OF THE END OF THE QUARTER.
UM, YOU CAN SEE IN THE TOP RIGHT DONUT THAT THE PORTFOLIO IS WELL DIVERSIFIED AMONGST SECTORS.
UM, I'LL TALK IN A PAGE ABOUT THE, UH, SECURITY PURCHASES WE MADE THIS PAST QUARTER.
UM, WE ARE AT A, UH, NEUTRAL DURATION STANCE.
IF YOU TAKE A LOOK AT THE DURATION DISTRIBUTION IN THE BOTTOM RIGHT, UH, WE SHOW THE PORTFOLIO'S DURATION DISTRIBUTION, WHICH IS ANOTHER METRIC THAT BASICALLY TRACKS THE, UH, AVERAGE, UH, DURATION OR TIME OF THE CASH FLOWS IN THE PORTFOLIO AGAINST THE BENCHMARK, WHICH IS, AGAIN, THE ONE TO FIVE YEAR US TREASURY INDEX.
AND WE'RE ESSENTIALLY AT WHAT I CALL A NEUTRAL STANDPOINT, UM, MEANING THAT WE ARE ESSENTIALLY MATCHED, UH, TO THE BENCHMARK DURATION.
[01:55:01]
WE MAY HAVE A LITTLE BIT MORE IN THE ZERO TO ONE YEAR AREA, BUT WE BALANCE THAT OUT, UH, LATER ON IN THE PORTFOLIO, UH, TO GIVE US AN AVERAGE DURATION OF 2.51 YEARS VERSUS THE BENCHMARKS 2.50 YEARS.UM, AND THE PORTFOLIO IS OF EXCEPTIONALLY HIGH CREDIT QUALITY.
NOW, IN TERMS OF THE PURCHASES THIS QUARTER, UH, WE DID A TREMENDOUS AMOUNT OF RESTRUCTURING, UH, THIS QUARTER.
WE ESSENTIALLY SOLD OUT OF, UH, $13.3 MILLION IN US TREASURY AND REALLOCATED THOSE FUNDS TO AGENCY, UH, COMMERCIAL MORTGAGE BACKED SECURITIES, WHICH ARE ESSENTIALLY POOLS, FOR EXAMPLE, OF MULTI-FAMILY HOUSING.
UH, WE INVESTED IN ASSET-BACKED SECURITIES, NEGOTIABLE CDS AND CORPORATE NOTES.
UM, THE REASON THESE SECTORS WERE VERY ATTRACTIVE, UH, WAS TWOFOLD.
ONE, UH, SPREADS WIDENED, UH, MEANING THAT INVESTORS DURING THE QUARTER DEMANDED HIGHER INCOME, UH, FOR PURCHASING, UH, COMMERCIAL MORTGAGE-BACKED SECURITIES AND ASSET-BACKED SECURITIES.
UM, WELL, WHY IS THAT? WELL, THE AVERAGE LIFE OF THESE SECURITIES WERE EXPECTED TO, UM, EXTEND BECAUSE INVESTORS ARE DOING LESS REFINANCINGS AND, UM, MORTGAGE-BACKED SECURITIES.
UM, AND THAT'S BECAUSE THE, UM, INTEREST RATES THAT INVESTORS WERE ABLE TO GARNER ON THOSE OR BORROWERS WERE ABLE TO GET ON THOSE ARE EXTREMELY LOW AND THEY'RE NOT EXPECTED TO REFINANCE IN A HIGHER YIELDING ENVIRONMENT.
UM, WE SAW THAT AS A BUYING OPPORTUNITY.
THE YIELD IN THESE SECURITIES ARE VERY ATTRACTIVE, AND WE'RE HAPPY TO HAVE, UH, QUITE FRANKLY, THEM EXTEND, UM, IF WE'RE EARNING A YIELD OF ABOVE 5% IN THE CURRENT MARKET.
UM, ASSET-BACKED SECURITIES HAD, UM, SIMILAR STORIES.
THERE WAS SOME CONCERN IN GENERAL ABOUT, UH, CREDIT CARD RECEIVABLES, AUTO LOANS, UM, INVESTORS, UH, WORRYING ABOUT THOSE, UH, DEFAULTING, UM, THAT REALLY APPLIED TO THE SUBPRIME MARKET.
THOSE ARE NOT THE TYPES OF ASSET-BACKED SECURITIES WE INVEST IN.
BUT BECAUSE OF THAT CHATTER AND THAT CONCERN, UH, SPREADS IN THE WHOLE SECTOR WIDENED.
SO WE SAW THAT AS A BUYING OPPORTUNITY FOR THE HIGH QUALITY ASSET-BACKED SECURITIES WE PURCHASED.
AND SO WE TAKE ADVANTAGE OF THAT.
UM, CORPORATE NOTES AND NEGOTIABLE CDS ALSO BENEFITED FROM GENERAL SPREAD WIDENING IN THE AREA.
SO AGAIN, UH, WE DECIDED IT WAS A GREAT TIME TO SHED SOME OF THOSE US TREASURIES AND REINVEST IN THE HIGH QUALITY SECTORS, UM, UH, THAT ARE ALLOWED BY OUR POLICY.
SO WE THINK THAT THESE INVESTMENTS ARE GOING TO HELP CONTRIBUTE TO ATTRACTIVE YIELD, UM, IN THE FUTURE.
UM, AND GOOD DIVERSIFICATION IN TERMS OF THE, UH, TOTAL RETURN PERFORMANCE, UH, WE'RE PRETTY STRONG PERFORMERS.
WE HAVE GOOD OUTPERFORMANCE OF THE PORTFOLIO.
UM, I'M GONNA FOCUS ON THE THREE MONTH, UH, TENURE, UM, THREE MONTH COLUMN ON THE TABLE BELOW.
UM, SO WE TALKED ABOUT INTEREST EARNED IN THE PORTFOLIO, AND THE INTEREST EARNED IN THE PORTFOLIO FOR THE QUARTER WAS 905,876.
THAT'S THE QUARTERLY INTEREST FIGURE.
NOW, THE CHANGE IN MARKET VALUE IS THE PRICE CHANGE, UM, THAT I TALK ABOUT.
THAT'S SIMPLY THE MARKET VALUE OF YOUR BONDS FLUCTUATING AS INTEREST RATES CHANGE IN THE MARKET, UM, THAT WAS A NEGATIVE 624,000 FOR A TOTAL DOLLAR RETURN OF $361,000 FOR THE QUARTER.
UM, NOW THAT COMPARES, UH, FAVORABLY WITH YOUR, UH, BENCHMARK.
UM, ON A GROSS BASIS, WE'RE AHEAD OF PERFORMANCE FOR THE BENCHMARK ON A NET BASIS.
WE'RE, EVEN IF YOU LOOK AT LONGER TRAILING PERIODS, UH, WE CONTINUE TO HAVE A REALLY GREAT PERFORMANCE, UH, VERSUS THE BENCHMARK, UH, OVERPERFORMING ON A SIGNIFICANT BASIS, BOTH GROSS AND NET OF FEES.
UM, NOW I DO WANNA TALK ABOUT, UH, THE BOOK EARNINGS PRESENTATION OR THE ACCRUAL BASIS PRESENTATION, UH, FOR A MOMENT, UH, ACCRUAL BASIS TAKES, UH, OUT OF THE EQUATION ANY OF THE UNREALIZED MARKET VALUE CHANGES, WHICH WE SAW ON THE PRIOR SLIDE, AND ACTUALLY TALKS ABOUT REALIZED, UH, LOSSES IN THE PORTFOLIO.
NOW, I MENTIONED THAT WE SOLD ABOUT $13.3 MILLION OF US TREASURIES TO REINVEST IN THE MARKETS.
UM, AND FOR THAT ACTIVITY, UH, WE REALIZED ABOUT 704,000 OF GAINS.
NOW, WHEN YOU TAKE THAT, UH, REALIZE, UM, SORRY, 700, 4,000 OF LOSSES.
NOW WHEN YOU TAKE THAT LOSS AGAINST THE INTEREST EARNED AND THE REAL CHANGE IN AMORTIZED VALUE, YOU STILL HAVE POSITIVE EARNINGS FOR THE QUARTER.
UM, BUT I DO WANNA TALK ABOUT THAT REALIZED LOSS FIGURE BECAUSE IT'S IMPORTANT AND IT'S NOTABLE, UM, ONE IN THIS INTEREST RATE ENVIRONMENT.
UH, WE HAVE SECURITIES IN THE PORTFOLIO THAT WE PURCHASED YEARS AGO IN 2020 AND 2021 WHEN THE TWO YEAR TREASURY WAS DOWN TO 25 BASIS POINTS.
UM, WHEN WE'RE SELLING THOSE BONDS IN THE CURRENT MARKET, UM, INVESTORS
[02:00:01]
ARE GOING TO DEMAND A DISCOUNT FOR PURCHASING THOSE BONDS TO GET, UM, YIELDS TO WHERE THEY ARE TODAY.AND SO THAT'S WHY THOSE BONDS WERE SOLD AT LOSSES.
NOW, BECAUSE WE ARE SHEDDING THOSE LOWER YIELDING BONDS, UH, THAT PAID YIELDS AGAIN BELOW 1% AND ARE PICKING UP YIELDS ON AVERAGE ABOVE 5%, UH, WE MORE THAN RECOUP THE LOSS ON THAT INVESTMENT.
UM, AND WE BELIEVE THAT IN THE LONG RUN, HAVING THAT HIGHER INTEREST FIGURE IS GONNA BE VERY BENEFICIAL TO THE DISTRICT.
UM, SO ON A MATH BASIS, WE ARE DOING THAT ANALYSIS.
UH, WHEN WE TRADE THE SECURITIES, WE THOUGHT THIS, UH, QUARTER IN PARTICULAR, UH, WAS JUST SO MUCH OPPORTUNITY THAT WE DECIDED TO DO LARGE MOVEMENTS INTO ALL THE SECTORS I TALKED ABOUT.
UM, AND YOU WILL SEE THE DIVIDENDS, UM, ON THOSE PURCHASES.
UH, YOU'LL SEE THAT INTEREST EARNED FIGURE GROW.
AND AGAIN, SINCE INTEREST RATES ARE EXPECTED TO DECLINE, THAT'S GOING TO SUSTAIN US, UH, FOR A GOOD PORTION IN THE FUTURE.
UM, NOW I DO WANT TO, UH, TALK ABOUT THE ESG UM, OVERVIEW FOR THE PORTFOLIO.
UM, THE DISTRICT DOES HAVE AN ENVIRONMENTAL, SOCIAL AND GOVERNANCE MANDATE FOR ITS PORTFOLIO.
UM, AND WE, UH, AS A PRACTICE, UH, MANAGE THE PORTFOLIO AND CONSIDERATION OF THOSE ESG OBJECTIVES.
NOW JUST A BRIEF OVERVIEW OF ESG RISK RATINGS.
UM, ESG RISK RATINGS ARE BUILT ON THREE BUILDING BLOCKS.
UM, THREE SORT OF MAIN PRIMARY, UM, ISSUES, AND THEN ALSO SORT OF DIG DOWN INTO TWO DIMENSIONS.
NOW THE THREE PRIMARY BUILDING BLOCKS ARE CORPORATE GOVERNANCE, UH, MATERIAL ESG ISSUES.
UM, AND THAT COULD BE ANYTHING THAT SIGNIFICANTLY IMPACTS THE OPERATIONS OR STAKEHOLDERS OF THE BUSINESS.
UM, AND THOSE ARE ENVIRONMENTAL SUSTAINABILITY, SOCIAL RESPONSIBILITY AND ETHICAL GOVERNANCE AND IDIOSYNCRATIC ISSUES, UH, THAT MAY BE TOPICAL.
NOW, THE RATING DIMENSIONS USED TO ASSESS THOSE ARE EXPOSURE, WHICH REFLECTS THE EXTENT AN ISSUER IS EXPOSED TO ANY PARTICULAR ESG RISK AND MANAGEMENT, WHICH IS HOW A COMPANY ADDRESSES AND HANDLES THE SG RELATED ISSUES THROUGH POLICIES, PROGRAMS, ET CETERA, AND HOW THEY RUN THEIR BUSINESS.
UM, NOW FOR SOME MATERIAL ESG RISKS THAT AN ISSUER MAY FACE, UM, YOU KNOW, OUR PARTNER WHO IS SUSTAINALYTICS UNDERSTANDS THAT THERE'S SOME LEVELS OF UNMANAGEABLE RISK AND THAT'S, UH, TAKEN INTO ACCOUNT IN HOW THEY ASSESS EACH ISSUER.
NOW, THE OVERALL ESG RISK RATING THAT WE'RE EVALUATING, YOU'LL NOTICE HERE THAT WE NOTE THAT THE PORTFOLIO HAS AN AVERAGE ESG RISK RATING OF 20.9%.
UH, THAT METRIC IS USED TO IDENTIFY THE LEVEL OF UNMANAGED RISKS EACH ISSUER FACES.
SO AGAIN, YOU HAVE SOME EXPOSURE GENERALLY TO ESG RISKS AND YOU EXPECT THAT YOU ARE MANAGING SOME, SO THE AMOUNT THAT YOU'RE NOT MANAGING AND THAT EXISTS, THAT'S WHERE THAT ESG RISK RATING COMES FROM.
UM, NOW THE EAST BAY REGIONAL PARK DISTRICT HAS AN ESG POLICY THAT REQUIRES US TO, UH, FOCUS ON ISSUERS WHO HAVE ESG RISK RATINGS BELOW 30.
UM, AND IF THEY DO HAVE ESG RISK RATINGS ABOVE 30, WE WANT THEM TO BE IN THE 25TH PERCENTILE OF THEIR INDUSTRY, MEANING THAT WE ACKNOWLEDGE THAT THERE ARE SOME INDUSTRIES THAT JUST HAVE HIGH LEVELS OF ESG RISK.
SO IF WE HAVE AN ISSUE WITH A HIGH LEVEL OF ESG RISK, WE WANNA MAKE SURE THAT THEY'RE ONE OF THE BEST MANAGED, UM, IN THEIR RESPECTIVE INDUSTRY.
UM, SO THAT IS THE BASIS OF, UM, THE ESG RISK RATINGS THAT WE'RE TALKING ABOUT TODAY.
NOW FOR THE DISTRICT'S PORTFOLIO, UM, ESG RISK RATINGS ARE AVAILABLE FOR CERTAIN ISSUERS IN THE PORTFOLIO.
UM, 69 OUT OF THE 76 ISSUERS IN THE PORTFOLIO ARE RATED OR HAVE AESG RISK RATING.
UM, WE APPLY THE ESG CRITERIA THAT THE DISTRICT HAS TO THE CREDIT PURCHASES IN THE PORTFOLIO.
SO BEFORE WE PURCHASE A CORPORATE NOTE OR AN ASSET BACKED SECURITY OR A NEGOTIABLE CD, WE'RE EVALUATING THE ESG RISK RATING TO ENSURE THAT IT FITS INTO THE CITY'S CRITERIA.
UM, UNRATED ISSUERS IN THE PORTFOLIO WOULD INCLUDE YOUR U TREASURY HOLDINGS AND SOME MUNICIPAL SECURITIES.
UM, OF THE ISSUERS IN THE DISTRICT'S PORTFOLIO, UM, THAT ARE RATED THE MAJORITY FALL WITHIN THE LOW OR MEDIUM RISK RANGES.
UM, IRONICALLY, IN YOUR PORTFOLIO, THE HIGHEST RISK RATING AND THE NEGLIGIBLE RISK RATING ARE BOTH GOVERNMENT SECURITIES.
THEY'RE IN THE GOVERNMENT CATEGORY, SO THEY SORT OF JUST EXIST.
THAT'S JUST THE NATURE OF THEIR BUSINESS.
UM, THE ESG RISK RATING HAS IMPROVED, UH, QUARTER OVER QUARTER.
IT'S 20.9% AS OF THE END OF THE QUARTER.
[02:05:01]
ONE POINT HIGHER, UM, LAST QUARTER.SO, UH, THAT IS AN IMPROVEMENT.
UM, NOW I WILL SAY THAT RATINGS, UH, FOR THE ISSUERS IN THE PORTFOLIO DON'T CHANGE VERY MUCH, UM, UNLESS SOMETHING SIGNIFICANT HAPPENS WITHIN THE COMPANY OR WITHIN THE INDUSTRY.
SO WE DON'T EXPECT VERY LARGE SWINGS IN THE AVERAGE RISK RATING OF EACH, UM, ISSUER IN THE PORTFOLIO.
BUT AGAIN, AS WE ADD NEW ISSUERS, UH, TO THE PORTFOLIO, WE ARE DOING THIS ASSESSMENT AND ASSURING THAT THEY FALL WITHIN, UH, THE DISTRICT'S INVESTMENT CRITERIA.
UM, SO THAT IS MY LAST, UH, FORMAL SLIDE.
I WILL PAUSE AND TAKE QUESTIONS.
I'LL START WITH DIRECTOR CORBETT TO SEE IF SHE HAS ANY COMMENTS OR QUESTIONS.
THANK YOU VERY MUCH FOR THE PRESENTATION.
UM, I ALWAYS ASK THIS QUESTION,
AND SO, UH, IT WAS ALWAYS THOUGHT THAT THE, UH, AN INVERTED YIELD CURVE WOULD ALWAYS KIND OF PORTENDS, UH, UH, RECESSION, UH, THE RECESSION.
SO, UH, AND, AND I THINK THIS CURVE'S BEEN INVERTED SINCE LAST YEAR.
SO IS IT BECAUSE, IS IT, IS IT BECAUSE IT'S THE, UM, WELL, HOW COME WE'RE NOT IN A RECESSION
UM, THERE'S GONNA BE BOOKS WRITTEN ABOUT, UH, WHY WE'RE NOT IN A, A RECESSION RIGHT NOW.
UM, UH, FRANKLY, THE FACT OF THE MATTERS IS THAT CONSUMERS KEEP SPENDING THERE.
THERE SEEMS TO BE NOTHING THAT, THAT IS GETTING IN THE CONSUMER'S WAY.
UM, DESPITE HIGHER INTEREST RATES SPENDING, DESPITE HIGHER AUTO PRICES, BUYING, DESPITE HIGHER AUTO LOAN PRICES, STILL BUYING, UM, YOU KNOW, RIGHT NOW WE'RE IN THAT MARKET WHERE, DESPITE THE POLICY OVER THE PAST, UH, YEAR OR SO, DESPITE THE INVERTED YIELD CURVE, WE HAVE NOT SEEN THAT SHIFT.
UH, THERE ARE HEADWINDS COMING THOUGH.
UH, WE'RE AT A STATE WHERE CONSUMERS HAVE SPENT DOWN, UM, A GOOD PORTION OF THEIR SAVINGS.
UM, WE'VE SEEN DEBT INCREASE TO THE HIGHEST LEVELS.
UH, WE'RE STARTING TO SEE INVENTORY ON CARLAS, UM, YOU KNOW, RAMP UP.
UM, ALL THOSE THINGS SUGGEST THAT WE COULD HAVE, UM, A GLUT COMING.
UH, BUT SO FAR WE JUST HAVE, HAVE NOT SEEN THAT.
IT JUST HAS NOT SHOWN ITSELF IN THE NUMBERS.
CAN YOU, UM, UM, CAN YOU, UH, KIND OF EXPLAIN, UH, OR TRY TO EXPLAIN THE, UM, WHY, UH, CHINA JAPAN'S, UH, SHEDDING OF US TREASURIES HURTS US OR HURTS, HURTS? YOUR MM-HMM.
SO, YOU KNOW, LIKE ANYTHING, IT'S A SUPPLY, UM, AND DEMAND ISSUE.
YOU KNOW, IF THEY START SELLING, UH, US TREASURY BONDS, THEY'RE CREATING SORT OF A, AN OVERUSE OF PRODUCT AND THAT CAUSES THE PRICE TO DECLINE, RIGHT? THERE'S TOO MUCH VALUE ON THE MARKET.
THE PRICE OF THOSE BONDS IS GONNA DECLINE.
THAT PUTS UPWARD PRESSURE ON INTEREST RATES, WHICH JUST INCREASES OUR BORROWING COSTS.
SO, WHO'S BUYING
THERE HAS NOT BEEN A GREAT, UH, SUBSTITUTE FOR US TREASURY DEBT IN TERMS OF STANDING IN THE MARKET AS THE RISK-FREE, UM, INVESTMENT OBLIGATION.
AND SO UNTIL THERE IS, I THINK THERE WILL STILL BE DEMAND FOR US TREASURY BONDS, BUT IT IS SOMETHING TO NOTE THAT SOME OF THE MOST RELIABLE PURCHASERS ARE STARTING TO LOOK FOR OTHER OPTIONS.
AND THEN HOW DOES THE, UM, THE CURRENT, UM, HUH.
HOW DO WHAT YOU SAY CURRENT CLIMATE IN, IN CONGRESS, UH, AFFECT US TREASURIES? YOU KNOW, UNFORTUNATELY I THINK THE MARKET HAS GOTTEN USED TO, UM, OUR, OUR LEADERSHIP.
AND SO, YOU KNOW, DESPITE THE, UH, YOU KNOW, LACK OF DECORUM IN CONGRESS AND THE LACK OF MEASURABLE PROGRESS, UH, AMONG SOME OF THESE ISSUES, UH, THE MARKET HAS NOT TAKEN ANY NOTICE.
WELL, THANK YOU FOR YOUR REPORT.
UM, ARE THERE ANY PUBLIC COMMENTS?
[02:10:01]
UH, NO.NOBODY CALLED OR EMAILED EITHER.
AND I SEE NOTHING IN THE ROOM.
ANY OTHER COMMENTS FROM THE BOARD? UH, SO THIS WAS INFORMA INFORMATIONAL ONLY, I BELIEVE.
WE WAS JUST GONNA BE RECOMMENDED TO THE BOARD.
YEAH, SO I, I HAVE NO FURTHER QUESTIONS, BUT THANK YOU VERY MUCH.
THEN I CAN SEE THAT WE'RE IN VERY GOOD HANDS.
YES, WE, WE JUST NEED A RECOMMENDATION ON THAT.
AND SO, UH, MOTION IS IN ORDER, UH, MOVE APPROVAL, UH, BUT TO RECOMMEND TO THE FULL BOARD.
AND I SEE DIRECTOR T'S HAND FOR A SECOND.
SO WE HAVE A MOTION AND A SECOND.
UH, ALL THOSE IN FAVOR SAY AYE.
RECOMMENDATION IS APPROVED TO THE FULL BOARD.
AND NEXT WE HAVE, ARE WE AT D THIRD QUARTER 2023 GENERAL FUND, IS THAT CORRECT? OKAY.
I'M LYN BAYONA, BUDGET MANAGER, AND TODAY I'M GOING TO PRESENT, I'M GOING TO QUICKLY PRESENT TO YOU THE THIRD QUARTER, 2023 GENERAL FUND AND OTHER GOVERNMENTAL FUNDS FINANCIAL REPORT.
WE WILL START WITH, UM, OVERVIEW OF THE GENERAL FUND AND EXPENDITURES FOR THE THIRD QUARTER OF 2023.
AS YOU CAN SEE, ACTUAL REVENUE IS AT 108,400,000 OR 54.3 OF BUDGET, WHICH IS AS EXPECTED SINCE THE SECOND HALF YEAR.
REVENUES TYPICALLY POST THAT FOURTH QUARTER OR END OF THE YEAR.
REVENUE IS 10% HIGHER COMPARED TO PRIOR YEARS, THIRD QUARTER, PRIMARILY DUE TO INCREASES IN PROPERTY TAXES AND INVESTMENT EARNINGS.
YOU'LL ALSO SEE THAT ACTUAL EXPENDITURE IS AT 161,700,000 OR 71.2% OF BUDGET, WHICH IS ON TARGET AT THIS TIME OF THE YEAR COMPARED TO PRIOR YEAR.
AT THIS TIME, EXPENDITURE IS 22% HIGHER, PRIMARILY DUE TO INCREASE IN TRANSFERS.
AS WE DRILL DOWN TO THE GENERAL FUND, WHICH IS FOUND ON AT ATTACH ATTACHMENT A ON PAGE 99 OF YOUR PACKET, IT SHOWS DETAILS OF GENERAL FUND REVENUE AND EXPENDITURES BY CATEGORY AND BY DIVISION.
YOU'LL ALSO SEE NOTES AT THE BOTTOM FOR ITEMS THAT SHOW VARIANCE AGAINST BUDGET OF OVER OR UNDER 10% OF THE TARGETED 75% OR NINE MONTH BUDGET.
THE MOST SIGNIFICANT VARIANCE IS IN REVENUE, IS IN THE INVESTMENT EARNINGS, WHICH HAS EXCEEDED PRIOR YEAR'S PERFORMANCE.
STARTING THIS YEAR, WE DISCONTINUED BUDGETING FOR INVESTMENT DUE TO VOLATILITY AND UNCERTAINTY.
AS FOR EXPENDITURES, THE MOST SIGNIFICANT VARIANCE IS IN TRANSFERS OUT, WHICH ARE POSTED IMMEDIATELY AFTER BUDGET TRANSFERS ARE APPROVED BY THE BOARD.
AND MY LAST SLIDE LIST, UH, THE OTHER FOUR, THE FOUR OTHER FUND TYPES.
AND THEY ARE SPECIAL REVENUE FUNDS, WHICH INCLUDE MEASURE FF, LIGHTING AND LANDSCAPING ZONES OF BENEFIT AND MEASURE WW LOCAL GRANTS, PROJECT FUNDS, WHICH ARE PRIMARILY USED FOR LAND ACQUISITION AND, AND CONSTRUCTIONS DEBT SERVICE, UM, WHICH IS, UH, MEASURE WW.
AND LASTLY, INTERNAL SERVICE FUNDS, WHICH IS USED TO PAY FOR WORKERS' COMP, GENERAL LIABILITY, EMPLOYEE BENEFITS, MAJOR INFRASTRUCTURE, AND MAJOR EQUIPMENT, ALL ARE ON TRACK AS EXPECTED.
THIS CONCLUDES MY BRIEF PRESENTATION.
DOES ANYONE HAVE ANY QUESTION? DIRECTOR CORBETT? ANY QUESTIONS? NO QUESTIONS.
THIS IS VERY STRAIGHTFORWARD AND, UH, THANK YOU FOR, UH, FOR THE COMPILATION AND THE REPORT.
I WOULD, I WOULD JUST THANK, UH, THANK EVERYONE RESPONSIBLE FOR THE NOTES AT THE BOTTOM THERE.
VERY ON 90, NOT PAGE 99 N 100.
THEY INVARIABLY ANSWER THE QUESTIONS I HAVE WHEN I LOOK AT 'EM.
I GO, WHAT? YOU KNOW, AND THEN THE NOTES SAY, OH, HERE'S WHY.
[02:15:01]
A RECOMMENDATION, A MOTION.UH, ANY PUBLIC COMMENTS? SEEING NONE IN THE ROOM? NONE.
WE HAVE A MOTION AND A SECOND AND A SECOND.
SO ALL THOSE IN FAVOR SAY AYE.
AND THEN WITH THAT, UH, WE'RE AT ITEM NUMBER SIX.
ANY ANNOUNCEMENTS? OH, WE ACTUALLY, WE, WE STILL NEED TO GO BACK TO THE VERY FIRST ITEM THAT WE SKIPPED OVER.
WE GOTTA GO BACK TO, UM, UM, ITEM
[Informational Items]
NUMBER FOUR.TAKING THINGS VERY OUT OF ORDER.
TRYING TO MOVE FORWARD TO MY NEXT SLIDE.
QUESTIONS ON THIS ONE? ALL RIGHT, THIS WILL BE QUICK.
THIS IS AN INFORMATIONAL ITEM AND IT'S, UH, REALLY JUST A RECAP OF A REPORT THAT WE FILED, UM, UH, WITH THE MSRB.
UM, AND, UH, TYPICALLY WE WOULD'VE BROUGHT THIS TO YOU A LITTLE BIT EARLIER IN THE YEAR, BUT WE'RE BRINGING IT TO YOU NOW.
SO JUST TO RECAP, UM, THE PARK DISTRICT ISSUED ITS FIRST GREEN BONDS IN 2017, UH, $30 MILLION.
AND THEN LAST YEAR IN 2022, WE ISSUED AN ADDITIONAL 30 MILLION IN GREEN BONDS, UH, BECAUSE WE HAD ALMOST SPENT, UH, THE ORIGINAL 30 MILLION.
AND SO GREEN BONDS MEAN THAT THOSE FUNDS CAN ONLY BE USED FOR ENVIRONMENTAL TYPES OF CAPITAL PROJECTS.
SO LAND ACQUISITION, TRAIL CREATION, HABITAT IMPROVEMENT, AND THEN SEA LEVEL RISE RESPONSE.
UH, AS A REQUIREMENT OF, OF, UM, SELLING GREEN BONDS, UH, WE HAVE TO DO AN ANNUAL REPORT, UM, TO ANY INVESTORS SO THAT THEY CAN SEE THAT WE TRULY ARE SPENDING OUR MONEY ON ENVIRONMENTALLY FRIENDLY PROJECTS.
SO WE, UH, FILE THAT ON THE MSRB WEBSITE, WHICH IS CALLED EMMA.
UM, AND THEN JUST GIVE IT TO YOU FOR INFORMATION.
AND, AND THEN HERE ARE JUST A COUPLE EXAMPLES OF SOME PROJECTS THAT WERE COMPLETED WITH GREEN BOND FUNDS IN THE LAST YEAR, ACTUALLY IN 2022.
SO HERE IS ONE THAT WAS A PORTION OF THE SAN FRANCISCO BAY TRAIL OUT AT LOAN TREE.
AND, UM, IN TOTAL, THE PROJECT USED 4.3 MILLION IN GREEN BONDS, UH, WHICH IS ALMOST ALL OF THE TOTAL PROJECT COST.
AND SO, UM, SOME PICTURES OF THE PROJECT AND A LISTING OF THE BENEFITS.
AND, UM, THE, UM, MOST INTERESTING PART I ALWAYS THINK IS THE EXPECTED CARBON SEQUESTRATION VALUE, WHICH IS DOWN AT THE BOTTOM.
SO IT TALKS ABOUT HOW WE'RE REDUCING GREENHOUSE GASES WITH OUR PROJECTS.
AND THEN ANOTHER EXAMPLE OF A PROJECT, UH, THIS IS A HABITAT RESTORATION PROJECT OUT AT BAY POINT, UM, $5.1 MILLION IN GREEN BONDS.
AND THIS WAS A SEA LEVEL RISE TYPE OF PROJECT.
AND SO WE DON'T, WE DID NOT, UH, QUANTIFY THE, UH, GREENHOUSE GAS EMISSIONS THAT WERE, UH, OF THIS PROJECT, BUT IT DID HAVE OTHER ANCILLARY BENEFITS.
AND SO THAT, IS IT JUST AN INFORMATIONAL REPORT ON THE, UH, GREEN BONDS? ANY QUESTIONS? QUESTIONS FROM THE BOARD? NO.
UM, ARE THE, UH, IT SOUNDS LIKE WE'RE NOT HAVING ANY PROBLEMS SELLING THE GREEN BONDS.
YEAH, THEY, UH, THEY, THEY SOLD, WE, WE DID NOT IN THIS LAST 2022 SALE, DID NOT SEE, UM, AN INCREASE IN THE, UM, THE REVENUE GENERATED, WHICH WE DID IN THE FIRST SERIES IN THE 2017 SERIES.
AND WHY THAT IS, WE'RE NOT, WE'RE NOT SURE, BUT, UM, BUT THEY, THEY SOLD VERY EASILY.
THE PARK DISTRICT BONDS ALWAYS DO.
AND WE ARE, WE ARE AAA RATED, UH, WHICH IS WONDERFUL THING.
IT MAKES IT PRETTY EASY FOR US TO SELL OUR BONDS ALWAYS.
YEAH, THIS IS, UM, IT'S, IT'S A GREAT TO HAVE IN OUR PORTFOLIO.
I SEEING ANY, ANY, UH, PUBLIC COMMENTS? NO PUBLIC COMMENTS.
AND, UH, I DON'T SEE ANY COMMENTS IN THE, FROM THE INSIDE HERE, SO THANK YOU VERY MUCH.
ALWAYS A LOT OF WORK IN FINANCE.
[Announcements]
NO ANNOUNCEMENTS.AND ANY OTHER, UM, ANNOUNCEMENTS FROM THE BOARD? YES, I WOULD JUST LIKE TO ASK, I WOULD SPEAK TO THE CHAIR.
THANK YOU SO MUCH FOR SHARING THE MEETING TODAY.
[02:20:01]
IT.WE LOOK FORWARD TO, TO SEEING THIS AGAIN IN, IN DECEMBER,
AND, UM, IF YOU HAVE ANY QUESTIONS, SEND THEM ALL TO, TO DEBORAH.
I'LL BE GOING OVER AGAIN A SECOND.