CC 02-21-2024 Searchable PacketCITY OF CUPERTINO
CITY COUNCIL
AGENDA
10300 Torre Avenue and 10350 Torre Avenue and via Teleconference
Wednesday, February 21, 2024
5:30 PM
Non-Televised Special Meeting Closed Session (5:30) and Televised Special Meeting (6:45)
IN-PERSON AND TELECONFERENCE / PUBLIC PARTICIPATION INFORMATION
Members of the public wishing to observe the meeting may do so in one of the following
ways:
1) Attend in person at Cupertino Community Hall, 10350 Torre Avenue.
2) Tune to Comcast Channel 26 and AT&T U-Verse Channel 99 on your TV.
3) The meeting will also be streamed live on and online at www.Cupertino.org/youtube
and www.Cupertino.org/webcast
Members of the public wishing to comment on an item on the agenda may do so in the
following ways:
1) Appear in person at Cupertino Community Hall.
2) E-mail comments by 4:00 p.m. on Wednesday, February 21 to the Council at
citycouncil@cupertino.org. These e-mail comments will also be forwarded to
Councilmembers by the City Clerk’s office before the meeting and posted to the City’s
website after the meeting.
Members of the public may provide oral public comments during the Meeting as follows:
Oral public comments will be accepted during the meeting. Comments may be made
during “oral communications” for matters not on the agenda, and during the public
comment period for each agenda item.
Oral public comments may be made during the public comment period for each agenda
item.
Members of the audience who address the City Council must come to the
lectern/microphone, and are requested to complete a Speaker Card and identify themselves.
Page 1
1
CC 02-21-2024
1 of 456
City Council Agenda February 21, 2024
Completion of Speaker Cards and identifying yourself is voluntary and not required to
attend the meeting or provide comments.
3) Teleconferencing Instructions
To address the City Council, click on the link below to register in advance and access the
meeting:
Online
Register in advance for this webinar:
https://cityofcupertino.zoom.us/webinar/register/WN_dJJDJ4LXRjW4WlPC3cM3bQ
Phone
Dial: 669-900-6833 and enter Webinar ID: 937 9540 4123 (Type *9 to raise hand to speak, *6 to
unmute yourself). Unregistered participants will be called on by the last four digits of their
phone number.
Or an H.323/SIP room system:
H.323:
162.255.37.11 (US West)
Meeting ID: 937 9540 4123
SIP: 93795404123@zoomcrc.com
After registering, you will receive a confirmation email containing information about
joining the webinar.
Please read the following instructions carefully:
1. You can directly download the teleconference software or connect to the meeting in your
internet browser. If you are using your browser, make sure you are using a current and
up-to-date browser: Chrome 30+, Firefox 27+, Microsoft Edge 12+, Safari 7+. Certain
functionality may be disabled in older browsers, including Internet Explorer.
2. You will be asked to enter an email address and a name, followed by an email with
instructions on how to connect to the meeting. Your email address will not be disclosed to
the public. If you wish to make an oral public comment but do not wish to provide your
name, you may enter “Cupertino Resident” or similar designation.
3. When the Mayor calls for the item on which you wish to speak, click on “raise hand,” or,
if you are calling in, press *9. Speakers will be notified shortly before they are called to
speak.
Page 2
2
CC 02-21-2024
2 of 456
City Council Agenda February 21, 2024
4. When called, please limit your remarks to the time allotted and the specific agenda topic.
5. Members of the public that wish to share a document must email cityclerk@cupertino.org
prior to speaking. These documents will be posted to the City’s
website after the meeting.
NOTICE AND CALL FOR A SPECIAL MEETING OF THE CUPERTINO CITY COUNCIL
NOTICE IS HEREBY GIVEN that a special meeting of the Cupertino City Council is hereby
called for Wednesday, February 21, 2024, commencing at 5:30 p.m. in City Hall, Conference
Room C, 10300 Torre Avenue, Cupertino, California 95014 and an Open Session at 6:45 p.m.
in Community Hall Council Chamber, 10350 Torre Avenue, Cupertino, California 95014
and via teleconference. Said special meeting shall be for the purpose of conducting
business on the subject matters listed below under the heading, “Special Meeting."
SPECIAL MEETING
ROLL CALL - 5:30 PM
10300 Torre Avenue, Conference Room C
CLOSED SESSION
1.Subject: Conference with legal counsel - existing litigation pursuant to Government
Code § 54956.9 (City of Cupertino v. California Department of Tax & Fee
Administration)
RECESS
OPEN SESSION
CALL TO ORDER - 6:45 PM
10350 Torre Avenue, Community Hall and via Teleconference
PLEDGE OF ALLEGIANCE
ROLL CALL
CLOSED SESSION REPORT
CEREMONIAL ITEMS - None
POSTPONEMENTS AND ORDERS OF THE DAY
2.Subject: Cessation of Hybrid Commission and Committee Meetings (Postponed from
February 6, 2024)
Page 3
3
CC 02-21-2024
3 of 456
City Council Agenda February 21, 2024
Recommended Action: Continue the item to a date to be identified by staff in
consultation with the Mayor
ORAL COMMUNICATIONS
This portion of the meeting is reserved for persons wishing to address the Council on any matter within
the jurisdiction of the Council and not on the agenda for discussion, including informational items. The
total time for Oral Communications will ordinarily be limited to one hour. Individual speakers are
limited to three (3) minutes. As necessary, the Chair may further limit the time allowed to individual
speakers, or reschedule remaining comments to the end of the meeting on a first come first heard basis,
with priority given to students. In most cases, State law will prohibit the Council from discussing or
making any decisions with respect to a matter not listed on the agenda. A councilmember may,
however, briefly respond to statements made or questions posed by speakers. A councilmember may also
ask a question for clarification, provide a reference for factual information, request staff to report back
concerning a matter, or request that an item be added to a future City Council agenda in response to
public comment.
CONSENT CALENDAR (Items 3-7)
Items appearing on the Consent Calendar are considered routine City business and may be approved by
one motion. Typical items may include meeting minutes, awards of contracts, the ratification of
accounts payable, and second readings of ordinances. Any member of the Council may request to have
an item removed from the Consent Calendar based on the rules set forth in the City Council Procedures
Manual. Members of the public may provide input on one or more consent calendar items when the
Mayor asks for public comments on the Consent Calendar.
3.Subject: Approve the January 29, 2024 City Council minutes
Recommended Action: Approve the January 29, 2024 City Council minutes
A - Draft Minutes
4.Subject: Approve the January 30, 2024 City Council minutes
Recommended Action: Approve the January 30, 2024 City Council minutes
A - Draft Minutes
5.Subject: Approve the February 6, 2024 City Council minutes
Recommended Action: Approve the February 6, 2024 City Council minutes
A - Draft Minutes
6.Subject: Ratifying Accounts Payable for the periods ending December 29, 2023; January
5, 2024; January 12, 2024; January 19, 2024; and January 26, 2024
Page 4
4
CC 02-21-2024
4 of 456
City Council Agenda February 21, 2024
Recommended Action: A. Adopt Resolution No. 24-015 ratifying Accounts Payable for
the Period ending December 29, 2023;
B. Adopt Resolution No. 24-016 ratifying Accounts Payable for the Period ending
January 5, 2024;
C. Adopt Resolution No. 24-017 ratifying Accounts Payable for the Period ending
January 12, 2024;
D. Adopt Resolution No. 24-018 ratifying Accounts Payable for the Period ending
January 19, 2024; and
E. Adopt Resolution No. 24-019 ratifying Accounts Payable for the Period ending
January 26, 2024
Staff report
A – Draft Resolution 12.29.23
B – Weekly AP Payment Register for the Period Ending 12.29.23
C – Draft Resolution 1.5.24
D – Weekly AP Payment Register for the Period Ending 1.5.24
E – Draft Resolution 1.12.24
F – Weekly AP Payment Register for the Period Ending 1.12.24
G – Draft Resolution 1.19.24
H – Weekly AP Payment Register for the Period Ending 1.19.24
I – Draft Resolution 1.26.24
J – Weekly AP Payment Register for the Period Ending 1.26.24
7.Subject: Coffee Society Lease Agreement, 10800 Torre Avenue, Cupertino, CA 95014.
Recommended Action: Authorize the City Manager to execute a five-year lease
agreement with the Coffee Society.
Staff Report
A – Draft Coffee Society Lease Agreement (2024)
PUBLIC HEARINGS - None
Effective January 1, 2023, Government Code Section 65103.5 (SB 1214) limits the distribution of
copyrighted material associated with the review of development projects. Members of the public wishing
to view plans that cannot otherwise be distributed under SB 1214 may make an appointment with the
Planning Division to view them at City Hall by sending an email to planning@cupertino.org. Plans
will also be made available digitally during the hearing to consider the proposal.
ACTION CALENDAR
8.Subject: Potential November 2024 Revenue Tax Measure Opinion Research
Recommended Action: Forego opinion polling and additional efforts at a November
2024 revenue-generating ballot initiative
Presenter: Thomas Leung, Budget Manager
Staff Report
A - Business Community Survey on Potential Revenue Tax Measures - Survey Results
Page 5
5
CC 02-21-2024
5 of 456
City Council Agenda February 21, 2024
9.Subject: Accept the City Manager’s Mid-Year Financial Report for Fiscal Year 2023-24
Recommended Action: 1. Accept the City Manager’s Mid-Year Financial Report for
Fiscal Year 2023-24
2. Adopt Resolution No. 24-020 approving Budget Modification No. 2324-326,
increasing appropriations by $10,057 and revenues by $807,672.
Presenter: Thomas Leung, Budget Manager
Staff Report
A - FY 2023-24 Mid-Year Financial Report
B - Draft Resolution
C - Description of Carryovers and Adjustments through December 31, 2023
D - Description of Budget Transfers through December 31, 2023
E - Mid-Year Recommended Adjustments
F – Mid-Year Performance Measures and Workload Indicators
G – FY 2022-23 Special Projects Update
H – FY 2023-24 Mid-Year Special Projects Update
I - Competitive and Non-Competitive Grants Tracking
J - Capital Improvement Program Project Status
10.Subject: Amendments to the Cupertino Municipal Code Chapter 3.22 (Purchase of
Supplies, Materials, Equipment and Services) and Chapter 3.23 (Public Works Contract
and Bidding Procedures) of Title 3 (Revenue and Finance)
Recommended Action: Conduct the first reading of Ordinance No. 24-2254: “An
Ordinance of the City Council of the City of Cupertino Amending Chapters 3.22 and
3.23 of the Municipal Code regarding the purchase of goods and services, and contract
and bidding procedures for public work contracts.”
Presenter: Greg Card, Purchasing Manager
Staff Report
A – Administrative Purchasing Policy
B – Administrative Public Works Policy
C – Draft Ordinance (Redline)
D – Draft Ordinance (Clean)
COUNCIL REPORTS AND COMMENTS
11.Subject: Councilmember Reports
A - Council Reports, Chao
B - Council Reports, Fruen
C - Council Reports, Mohan
D - Council Reports, Moore
E - Council Reports, Wei
CITY MANAGER REPORT
ORAL COMMUNICATIONS - CONTINUED
Page 6
6
CC 02-21-2024
6 of 456
City Council Agenda February 21, 2024
INFORMATIONAL ITEMS
Information items are intended to provide background information and routine reports to
Councilmembers and the public, without discussion by Council. Members of the public wishing to
comment on informational items should do so during oral communications.
12.Subject: Receive the Monthly Treasurer's Report for January 2024
Recommended Action: Receive the Monthly Treasurer's Report for January 2024
Staff Report
A – Report of City-wide Receipts, Disbursements, and Cash Balances January 2024
B – Report of City-wide Fund BalancesNet Position January 2024
13.Subject: Receive the Monthly Treasurer's Investment Report for January 2024
Recommended Action: Receive the Monthly Treasurer's Investment Report for January
2024
A - Chandler Investment Report January 2024
14.Subject: Receive the Treasurer's Investment Report for the Quarter Ending December
31, 2023
Recommended Action: Receive the Treasurer's Investment Report for the Quarter
Ending December 31, 2023
Staff Report
A – Chandler Investment Report December 2023
B – Chandler Custodial Statement December 2023
C – PARS Pension and OPEB Account Statement December 2023
D – LAIF Account Statement December 2023
COUNCIL AND STAFF COMMENTS AND FUTURE AGENDA ITEMS
ADJOURNMENT
Lobbyist Registration and Reporting Requirements: Individuals who influence or attempt to influence
legislative or administrative action may be required by the City of Cupertino’s lobbying ordinance
(Cupertino Municipal Code Chapter 2.100) to register and report lobbying activity. Persons whose
communications regarding any legislative or administrative are solely limited to appearing at or
submitting testimony for any public meeting held by the City are not required to register as lobbyists.
For more information about the lobbying ordinance, please contact the City Clerk’s Office at 10300
Torre Avenue, Cupertino, CA 95014; telephone (408) 777-3223; email cityclerk@cupertino.org; and
website: www.cupertino.org/lobbyist.
The City of Cupertino has adopted the provisions of Code of Civil Procedure §1094.6; litigation
challenging a final decision of the City Council must be brought within 90 days after a decision is
announced unless a shorter time is required by State or Federal law.
Page 7
7
CC 02-21-2024
7 of 456
City Council Agenda February 21, 2024
Prior to seeking judicial review of any adjudicatory (quasi-judicial) decision, interested persons must
file a petition for reconsideration within ten calendar days of the date the City Clerk mails notice of the
City’s decision. Reconsideration petitions must comply with the requirements of Cupertino Municipal
Code §2.08.096. Contact the City Clerk’s office for more information or go to
http://www.cupertino.org/cityclerk for a reconsideration petition form.
In compliance with the Americans with Disabilities Act (ADA), anyone who is planning to attend this
meeting who is visually or hearing impaired or has any disability that needs special assistance should
call the City Clerk's Office at 408-777-3223, at least 48 hours in advance of the meeting to arrange for
assistance. In addition, upon request, in advance, by a person with a disability, meeting agendas and
writings distributed for the meeting that are public records will be made available in the appropriate
alternative format.
Any writings or documents provided to a majority of the Cupertino City Council after publication of
the packet will be made available for public inspection in the City Clerk’s Office located at City Hall,
10300 Torre Avenue, Cupertino, California 95014, during normal business hours; and in Council
packet archives linked from the agenda/minutes page on the Cupertino web site.
IMPORTANT NOTICE: Please be advised that pursuant to Cupertino Municipal Code section
2.08.100 written communications sent to the Cupertino City Council, Commissioners or City staff
concerning a matter on the agenda are included as supplemental material to the agendized item. These
written communications are accessible to the public through the City’s website and kept in packet
archives. Do not include any personal or private information in written communications to the City
that you do not wish to make public, as written communications are considered public records and will
be made publicly available on the City website.
Page 8
8
CC 02-21-2024
8 of 456
CITY OF CUPERTINO
Agenda Item
24-12973 Agenda Date: 2/21/2024
Agenda #: 1.
Subject:Conference with legal counsel - existing litigation pursuant to Government Code § 54956.9 (City of Cupertino
v. California Department of Tax & Fee Administration)
CITY OF CUPERTINO Printed on 2/14/2024Page 1 of 1
powered by Legistar™9
CC 02-21-2024
9 of 456
CITY OF CUPERTINO
Agenda Item
24-12970 Agenda Date: 2/21/2024
Agenda #: 2.
Subject: Cessation of Hybrid Commission and Committee Meetings (Postponed from February 6,
2024)
Continue the item to a date to be identified by staff in consultation with the Mayor
CITY OF CUPERTINO Printed on 2/14/2024Page 1 of 1
powered by Legistar™10
CC 02-21-2024
10 of 456
CITY OF CUPERTINO
Agenda Item
24-12971 Agenda Date: 2/21/2024
Agenda #: 3.
Subject: Approve the January 29, 2024 City Council minutes
Approve the January 29, 2024 City Council minutes
CITY OF CUPERTINO Printed on 2/14/2024Page 1 of 1
powered by Legistar™11
CC 02-21-2024
11 of 456
DRAFT MINUTES
CUPERTINO CITY COUNCIL
Monday, January 29, 2024
SPECIAL MEETING
At 6:00 p.m., Mayor Sheila Mohan called the Special City Council Meeting to order in the
Cupertino Community Hall Council Chamber, 10350 Torre Avenue.
ROLL CALL
Present: Mayor Sheila Mohan, Vice Mayor J.R. Fruen, and Councilmembers Liang Chao, Kitty
Moore, and Hung Wei. Absent: none.
COMMISSION INTERVIEWS
1. Subject: Interview applicants for commission terms expiring on the Audit Committee,
Housing Commission (Community Member and Business Representative), Parks and
Recreation Commission, Public Safety Commission, Sustainability Commission
(Community Member, Business Representative and Educational Representative),
Technology, Information, and Communications Commission; and Sourcewise Advisory
Council (Cupertino Representative).
Recommended Action: Conduct interviews and make appointments to the Audit
Committee, Housing Commission (Community Member and Business Representative),
Parks and Recreation Commission, Public Safety Commission, Sustainability Commission
(Community Member, Business Representative and Educational Representative),
Technology, Information, and Communications Commission; and Sourcewise Advisory
Council (Cupertino Representative); and make appointments for any alternates.
Written Communications for this item included an amended Attachment A – Interview
Schedule.
Mayor Mohan opened the public comment period and, seeing no one, closed the public
comment period.
Councilmembers asked questions and made comments.
12
CC 02-21-2024
12 of 456
City Council Minutes January 29, 2024
Page 2
Council conducted interviews to the Audit Committee, Housing Commission (Community
Member and Business Representative), Parks and Recreation Commission, Public Safety
Commission, Sustainability Commission (Community Member, Business Representative
and Educational Representative), Technology, Information, and Communications
Commission; and Sourcewise Advisory Council (Cupertino Representative).
At 7:35 p.m., Mayor Mohan recessed the meeting. The meeting reconvened at 7:56 p.m.
with all Councilmembers present.
Council continued conducting interviews for all commissions with terms expiring.
Council consented to make appointments for all commissions with terms expiring after
conducting the commission interviews scheduled on January 30.
ADJOURNMENT
At 9:15 p.m., Mayor Mohan adjourned the Special City Council Meeting.
Minutes prepared by:
________________________________
Lauren Sapudar, Deputy City Clerk
13
CC 02-21-2024
13 of 456
CITY OF CUPERTINO
Agenda Item
24-12972 Agenda Date: 2/21/2024
Agenda #: 4.
Subject: Approve the January 30, 2024 City Council minutes
Approve the January 30, 2024 City Council minutes
CITY OF CUPERTINO Printed on 2/14/2024Page 1 of 1
powered by Legistar™14
CC 02-21-2024
14 of 456
DRAFT MINUTES
CUPERTINO CITY COUNCIL
Tuesday, January 30, 2024
SPECIAL MEETING
At 6:00 p.m., Mayor Sheila Mohan called the Special City Council Meeting to order in the
Cupertino Community Hall Council Chamber, 10350 Torre Avenue.
ROLL CALL
Present: Mayor Sheila Mohan, Vice Mayor J.R. Fruen, and Councilmembers Liang Chao, Kitty
Moore, and Hung Wei. Absent: None.
COMMISSION INTERVIEWS
1. Subject: Interview applicants for commission terms expiring on the Audit Committee,
Housing Commission (Community Member and Business Representative), Parks and
Recreation Commission, Public Safety Commission, Sustainability Commission
(Community Member, Business Representative and Educational Representative),
Technology, Information, and Communications Commission; and Sourcewise Advisory
Council (Cupertino Representative).
Recommended Action: Conduct interviews and make appointments to the Audit
Committee, Housing Commission (Community Member and Business Representative),
Parks and Recreation Commission, Public Safety Commission, Sustainability Commission
(Community Member, Business Representative and Educational Representative),
Technology, Information, and Communications Commission; and Sourcewise Advisory
Council (Cupertino Representative); and make appointments for any alternates.
Written Communications for this item included an amended Attachment A – Interview
Schedule.
Mayor Mohan opened the public comment period and, seeing no one, closed the public
comment period.
Councilmembers asked questions and made comments.
15
CC 02-21-2024
15 of 456
City Council Minutes January 30, 2024
Page 2
Council interviewed applicants and made appointments to the Audit Committee, Housing
Commission (Community Member and Business Representative), Parks and Recreation
Commission, Public Safety Commission, Sustainability Commission (Community
Member, Business Representative and Educational Representative), Technology,
Information, and Communications Commission; and Sourcewise Advisory Council
(Cupertino Representative); and made appointments for any alternates.
At 7:30 p.m., Mayor Mohan recessed the meeting. The meeting reconvened at 7:49 p.m.
with all Councilmembers present.
Council continued conducting interviews for all commissions with terms expiring.
Council voted to make appointments via an electronic voting system.
Audit Committee:
MOTION: Fruen moved and Wei seconded to appoint Eno Schmidt and Louise Fishler t o
the Audit Committee with terms ending January 30, 2028 and appoint Angela Chen to a
partial term ending January 30, 2025. The motion carried with the following vote: Ayes:
Mohan, Fruen, Chao, Moore, and Wei. Noes: None. Abstain: None. Absent: None.
MOTION: Chao moved and Wei seconded to appoint Hanyan Wu as Audit Committee
1st Alternate and Luis Buhler as 2nd Alternate. The motion carried with the following vote:
Ayes: Mohan, Fruen, Chao, Moore, and Wei. Noes: None. Abstain: None. Absent: None.
Housing Commission:
MOTION: Moore moved and Wei seconded to appoint Ryan Golze as the Housing
Commission Business Representative to a full term ending January 30, 2028 and Tessa
Parish as the Housing Commission Business Representative Alternate. The motion carried
with the following vote: Ayes: Mohan, Fruen, Chao, Moore, and Wei. Noes: None. Abstain:
None. Absent: None.
MOTION: Fruen moved and Wei seconded to appoint Yuyi He as the Housing
Commission Community Member to a full term ending January 30, 2028 and Yvonne
Thorstenson as the Housing Commission Community Member Alternate. The motion
carried with the following vote: Ayes: Mohan, Fruen, Chao, Moore, and Wei. Noes: None.
Abstain: None. Absent: None.
Parks and Recreation Commission:
16
CC 02-21-2024
16 of 456
City Council Minutes January 30, 2024
Page 3
MOTION: Moore moved and Chao seconded to appoint Carol Stanek and Claudio Bono to
Parks and Recreation Commission to full terms ending January 30, 2028; and Sashikala
Begur as Parks and Recreation Commission 1st Alternate and Santosh Rao as 2nd Alternate.
The motion carried with the following vote: Ayes: Mohan, Fruen, Chao, Moore, and Wei.
Noes: None. Abstain: None. Absent: None.
Public Safety Commission:
MOTION: Wei moved and Chao seconded to appoint Sidharth Rajaram, Neal Evans and
Nirmalendu Das to the Public Safety Commission to full terms ending January 30, 2028;
and Alexander Fung as Public Safety Commission Alternate. The motion carried with the
following vote: Ayes: Mohan, Fruen, Chao, Moore, and Wei. Noes: None. Abstain: None.
Absent: None.
Sourcewise Advisory Council (Cupertino Representative)
MOTION: Fruen moved and Moore seconded to appoint Jean Bedord to the Sourcewise
Advisory Council (Cupertino Representative) to a three year term beginning July 1, 2024.
The motion carried with the following vote: Ayes: Mohan, Fruen, Chao, Moore, and Wei.
Noes: None. Abstain: None. Absent: None.
Sustainability Commission:
MOTION: Fruen moved and Wei seconded to appoint Alexander Fung as the
Sustainability Commission Business Representative to a full term ending January 30, 2028.
The motion carried with the following vote: Ayes: Mohan, Fruen, Chao, Moore, and Wei.
Noes: None. Abstain: None. Absent: None.
MOTION: Chao moved and Moore seconded to appoint Susan Hansen as the
Sustainability Commission Educational Representative to a full term ending January 30,
2028 and Andrew Goldenkranz as Educational Representative Alternate. The motion
carried with the following vote: Ayes: Mohan, Fruen, Chao, Moore, and Wei. Noes: None.
Abstain: None. Absent: None.
MOTION: Wei moved and Fruen seconded to appoint Conny Yang as the Sustainability
Commission Community Member to a full term ending January 30, 2028; and Joseph Dan
Marshall as Alternate.
FRIENDLY AMENDMENT: Wei made a friendly amendment to appoint Sam Jew as the
Business Representative Alternate.
Council did not vote on this motion.
17
CC 02-21-2024
17 of 456
City Council Minutes January 30, 2024
Page 4
SUBSTITUTE MOTION: Chao moved to appoint Conny Yang as the Sustainability
Commission Community Member to a full term ending January 30, 2028; and Randall
Kunkee as Community Member Alternate and Sam Jew as Business Representative
Alternate.
Council did not vote on this substitute motion.
SECOND SUBSTITUTE MOTION: Mohan moved and Wei seconded a substitute motion to
appoint Conny Yang as the Sustainability Commission Community Member to a full term
ending January 30, 2028; and Joseph Dan Marshall as the Community Member Alternate
and Sam Jew as the Business Representative Alternate. The second substitute motion
carried with the following vote: Ayes: Mohan, Fruen, and Wei. Noes: Chao and Moore.
Abstain: None. Absent: None.
Technology, Information, Communications Commission (TICC):
MOTION: Wei moved and Chao seconded to appoint Balaram Donthi and Sudeep Kumar
to the TICC to full terms ending January 30, 2028; and Ravi Kiran Singh Sapaharam as 1st
Alternate and Venkatesan Ranganathan as 2nd Alternate. The motion carried with the
following vote: Ayes: Mohan, Fruen, Chao, Moore, and Wei. Noes: None. Abstain: None.
Absent: None.
Appointment Summary:
Audit Committee
Eno Schmidt, appointed to full term ending 1/30/2028
Louise Fishler, appointed to full term ending 1/30/2028
Angela Chen, reappointed to a partial term ending 1/30/2025
Alternate:
1st Alternate: Hanyan Wu
2nd Alternate: Luis Buhler
Housing Commission
Business Representative: Ryan Golze, appointed to a full term ending 1/30/2028
Alternate:
Tessa Parish
Community Member: Yuyi He, appointed to a full term ending 1/30/2028
Alternate:
Yvonne Thorstenson
Parks and Recreation Commission
Carol Stanek, reappointed to a full term ending 1/30/2028
18
CC 02-21-2024
18 of 456
City Council Minutes January 30, 2024
Page 5
Claudio Bono, appointed to a full term ending 1/30/2028
Alternate:
1st Alternate: Sashikala Begur
2nd Alternate: Santosh Rao
Public Safety Commission
Sidharth Rajaram, appointed to a full term ending 1/30/2028
Neal Evans, appointed to a full term ending 1/30/2028
Nirmalendu Das, appointed to a full term ending 1/30/2028
Alternate:
Alexander Fung
Sustainability Commission
Business Representative: Alexander Fung, appointed to a full term ending 1/30/2028
Alternate:
Sam Jew
Educational Representative: Susan Hansen, appointed to a full term ending 1/30/2028
Alternate:
Andrew Goldenkranz
Community Member: Conny Yang, appointed to a full term ending 1/30/2028
Alternate:
Joseph Dan Marshall
Technology, Information, Communications Commission (TICC)
Balaram Donthi, appointed to a full term ending 1/30/2028
Sudeep Kumar, appointed to a full term ending 1/30/2028
Alternate:
1st Alternate: Ravi Kiran Singh Sapaharam
2nd Alternate: Venkatesan Ranganathan
Sourcewise Advisory Council (Cupertino Representative)
Jean Bedord, appointed to a three year term beginning July 1, 2024
ADJOURNMENT
At 10:22 p.m., Mayor Mohan adjourned the Special City Council Meeting.
Minutes prepared by:
________________________________
Lauren Sapudar, Deputy City Clerk
19
CC 02-21-2024
19 of 456
CITY OF CUPERTINO
Agenda Item
23-12646 Agenda Date: 2/21/2024
Agenda #: 5.
Subject: Approve the February 6, 2024 City Council minutes
Approve the February 6, 2024 City Council minutes
CITY OF CUPERTINO Printed on 2/14/2024Page 1 of 1
powered by Legistar™20
CC 02-21-2024
20 of 456
DRAFT MINUTES
CUPERTINO CITY COUNCIL
Tuesday, February 6, 2024
At 6:45 p.m., Mayor Sheila Mohan called the Regular City Council Meeting to order and led the
Pledge of Allegiance in the Cupertino Community Hall Council Chamber, 10350 Torre Avenue
and via teleconference.
ROLL CALL
Present: Mayor Sheila Mohan, Vice Mayor J.R. Fruen, and Councilmembers Liang Chao, Kitty
Moore, and Hung Wei. Absent: none.
CLOSED SESSION REPORT - None
CEREMONIAL ITEMS
1. Subject: Recognition of STEM Winners from the City of Cupertino who participated in
the Santa Clara County 2023 Synopsys Championship Science Fair
Recommended Action: Recognize STEM Winners from the City of Cupertino who
participated in the Santa Clara County 2023 Synopsys Championship Science Fair
Santa Clara Valley Science and Engineering Fair Association (SCVSEFA) representative
Aulena Chaudhuri spoke.
Mayor Mohan recognized the STEM Winners from the City of Cupertino who participated
in the Santa Clara County 2023 Synopsys Championship Science Fair.
2. Subject: Recognition of February as Black History Month
Recommended Action: Recognize February as Black History Month
Mayor Mohan recognized February as Black History Month.
As part of ceremonial matters, Mayor Mohan recognized the passing of former Cupertino Mayor
Philip Johnson. Mr. Johnson’s wife, Petchie Johnson, and mother, Barbara Johnson, also spoke.
21
CC 02-21-2024
21 of 456
City Council Minutes February 6, 2024
Page 2
POSTPONEMENTS AND ORDERS OF THE DAY
MOTION: Wei moved and Moore seconded to postpone Item 11 Cessation of Hybrid
Commission and Committee Meetings to February 21. The motion carried with the following
vote: Ayes: Mohan, Fruen, Moore, and Wei. Noes: Chao. Abstain: None. Absent: None.
ORAL COMMUNICATIONS
Written communications for this item included emails to Council.
The following people spoke:
Jennifer Griffin discussed the Regional Housing Needs Allocation (RHNA) and Housing
Element.
Parks and Recreation Commissioner Hemant Buch (representing self) discussed the Athletic
Field Use Policy.
Brooke Ezzat discussed the recent weather event and the Housing Element.
Prabhu K discussed the Athletic Field Use Policy.
Rinky Gupta discussed the Athletic Field Use Policy.
Srividya Sundaresan discussed Cupertino Sports Center operations.
Srikantan Nagarajan discussed Cupertino Sports Center operations.
Parks and Recreation Commissioner Claudio Bono (representing self) discussed the Transient
Occupancy Tax (TOT).
Louise Saadati discussed City finances and revenue strategies.
Parks and Recreation Commissioner Jennifer Shearin (representing self) discussed Regnart
Creek Trail access.
San R discussed Fremont Union High School District (FUHSD) Board meetings and Cupertino
Sports Center operations.
Babu Srinavasan discussed hybrid Commission meetings (Item 11) and City Commission
appointments.
22
CC 02-21-2024
22 of 456
City Council Minutes February 6, 2024
Page 3
Tracy K discussed FUHSD Board meetings.
Call-In User 1 discussed a Code Enforcement matter.
CONSENT CALENDAR (Items 3-10)
Mayor Mohan opened the public comment period and, seeing no one, closed the public comment
period.
MOTION: Wei moved and Fruen seconded to approve the items on the Consent Calendar except
for items 7, 8, and 9 which were pulled for discussion. The motion carried with the following
vote: Ayes: Mohan, Fruen, Chao, Moore, and Wei. Noes: None. Abstain: None. Absent: None.
Items 7, 8, and 9 were placed after the Action Calendar for consideration.
3. Subject: Approve the December 19, 2023 (Closed Session) City Council minutes
Recommended Action: Approve the December 19, 2023 (Closed Session) City Council
minutes
4. Subject: Approve the January 12, 2024 City Council minutes
Recommended Action: Approve the January 12, 2024 City Council minutes
5. Subject: Approve the January 17, 2024 City Council minutes
Recommended Action: Approve the January 17, 2024 City Council minutes
6. Subject: Approve the January 29, 2024 (Closed Session) City Council minutes
Recommended Action: Approve the January 29, 2024 (Closed Session) City Council
minutes
10. Subject: Approve a Cooperative Services Agreement with SHI International Corporation
for Managed, Detection, and Response (MDR) Cybersecurity services, for a total not-to-
exceed amount of $180,025.50.
Recommended Action: Authorize the City Manager to execute a Cooperative Services
Agreement with SHI International Corp., for Managed, Detection, and Response (MDR)
Cybersecurity services for a total not-to-exceed amount of $180,025.50.
PUBLIC HEARINGS - None
ACTION CALENDAR
11. Subject: Cessation of Hybrid Commission and Committee Meetings
23
CC 02-21-2024
23 of 456
City Council Minutes February 6, 2024
Page 4
Recommended Action: Conduct City Council and Planning Commission meetings in a
hybrid format while continuing to utilize in-person only meetings for all other
Commissions and Committee meetings
Presenter: Bill Mitchell, Chief Technology Officer
Written communications for this item included a staff presentation, supplemental report
with staff responses to councilmember questions, and emails to Council.
As noted under Postponements and Orders of the Day, this item was postponed to
February 21.
12. Subject: Cost Allocation Plan, User Fee Study, and Cost Recovery Policy
Recommended Action: Receive and File Cost Allocation Plan and User Fee Study and
provide direction on the components of a Cost Recovery Policy
Presenter: Kristina Alfaro, Director of Administrative Services
Written communications for this item included staff and consultant presentations, a
supplemental report with staff responses to councilmember questions, and emails to
Council.
Administrative Services Director Kristina Alfaro and Finance Manager Jonathan Orozco
gave a presentation.
Courtney Ramos, Senior Vice President/Chief Financial Officer with Matrix Consulting
Group, gave a presentation.
Councilmembers asked questions and made comments.
Mayor Mohan opened the public comment period and the following people spoke.
Peggy Griffin
Jennifer Griffin
San R
Tessa Parish
Mayor Mohan closed the public comment period.
At 8:37 p.m., Mayor Mohan recessed the meeting. The meeting reconvened at 8:46 p.m.
with all Councilmembers present.
Council received and filed the Cost Allocation Plan and User Fee Study and provided the
following input as potential components of a Cost Recovery Policy:
24
CC 02-21-2024
24 of 456
City Council Minutes February 6, 2024
Page 5
The Council was supportive of the five policy components proposed by staff
Councilmembers provided various comments specific to the fee study
ITEMS REMOVED FROM THE CONSENT CALENDAR
7. Subject: Second reading of Municipal Code Amendment to Chapter 19.76 to allow
privately operated educational uses and privately operated public serving uses in the BA
zoning district. (Application No. MCA-2023-003; Applicant: City of Cupertino; Location:
BA-zoned (Public Building) properties in Cupertino)
Recommended Action: Conduct the second reading and enact Ordinance No. 23-2253:
“An Ordinance of the City Council of the City of Cupertino to amend Cupertino
Municipal Code Chapter 19.76 (Table 19.76.030) to allow privately operated educational
uses and privately operated public serving uses in the BA zoning district”.
Written communications for this item included a supplemental report with staff responses
to councilmember questions, Attachment B - Table of BA Zoned Sites, and emails to
Council.
This item was pulled from the Consent Calendar for discussion.
Councilmembers asked questions and made comments.
Mayor Mohan opened the public comment period and the following people spoke.
Susan Wuthrich
Peggy Griffin (submitted written comments)
Jennifer Griffin
Lisa Warren
Louise Saadati
Babu Srinivasan
San R
Tessa Parish
Mayor Mohan closed the public comment period.
MOTION: Moore moved and Chao seconded a motion to direct staff to return for a first
reading with the following changes:
Under Table 19.76.030 - Permitted, Conditional, and Excluded Uses in BA, BQ and
T Zones, Uses:
2. Privately operated educational uses and privately operated public serving
25
CC 02-21-2024
25 of 456
City Council Minutes February 6, 2024
Page 6
uses, including but not limited to, day care and private educational facilities and
current school sites only….; and
Staff return with suggestions for definitions on public serving uses at future date.
Council did not vote on this motion.
SECOND SUBSTITUTE MOTION: Chao moved and Moore seconded a second substitute
motion to direct staff to return for a first reading with the following changes:
Revise Item 2 of the table: Table 19.76.030 - Permitted, Conditional, and Excluded
Uses in BA, BQ and T Zones to Revise it to remove the reference to the term
“public serving uses” and “opinion of the Director of Community Development”.
2. Privately operated educational uses and privately operated public serving
uses, including, but not limited to, day care and private educational facilities,
which, in the opinion of the Director of Community Development, are similar
to the existing permitted uses in the BA zoning district, and which do not
create significant adverse impacts to the surrounding area.
o With “CUP - PC” – Conditional Use Permit issued by the Planning
Commission
Add Item 3 to the table for “privately operated public serving uses” and with
“CUP - CC” – Conditional Use Permit issued by the City Council
o Include a list of all BA zoned properties and a map in the agenda packet
Consider adding field use for non-school hours for Conditional Use Permit
The second substitute motion failed with the following vote: Ayes: Chao and Moore.
Noes: Mohan, Fruen, and Wei. Abstain: None. Absent: None.
SUBSTITUTE MOTION: Fruen moved and Mohan seconded a substitute motion to
approve the recommended action to conduct the second reading and enact Ordinance No.
23-2253, with further direction to:
Return to Council as part of the Zoning Code cleanup later in the year, with a
definition of the expression “privately operated public serving uses,” and any other
suggestions by staff on potential rezonings for other sites that would resolve some
of the concerns that were raised during the meeting; and
With additional direction to reach out to the resident who was concerned about
access at Regnart.
The substitute motion carried with the following vote: Ayes: Mohan, Fruen, Moore, and
Wei. Noes: Chao. Abstain: None. Absent: None.
8. Subject: Second reading of amendments to Municipal Code Chapter 19.12, Chapter
19.28 and Chapter 19.112 regarding Two-Story Permit and Accessory Dwelling Unit
(ADU) laws. (Application No. MCA-2023-002; Applicant: City of Cupertino; Location:
City-wide)
Recommended Action: Conduct the second reading and enact Ordinance No. 23-2254:
26
CC 02-21-2024
26 of 456
City Council Minutes February 6, 2024
Page 7
“An Ordinance of the City Council of the City of Cupertino to amend Municipal Code
Chapter 19.12, Chapter 19.28 and Chapter 19.112 regarding Two-Story Permit and
Accessory Dwelling Unit (ADU) Laws.”
Written communications for this item included an email to Council.
This item was pulled from the Consent Calendar for discussion.
Councilmembers asked questions and made comments.
Mayor Mohan opened the public comment period and the following people spoke.
Jennifer Griffin
Louise Saadati
Jean Bedord
Tessa Parish
Planning Commissioner Seema Lindskog
Mayor Mohan closed the public comment period.
MOTION: Wei moved and Mohan seconded a motion to extend the meeting to 11:00 p.m.
to continue discussion on this item. The motion carried with the following vote: Ayes:
Wei, Mohan, Chao, Fruen, and Moore. Noes: None. Abstain: None. Absent: None.
MOTION: Chao moved and Wei seconded to move the recommended action to conduct
the second reading and enact Ordinance No. 23-2254. The motion carried with the
following vote: Ayes: Mohan, Fruen, Chao, Moore, and Wei. Noes: None. Abstain: None.
Absent: None.
At 10:36 p.m., Mayor Mohan recessed the meeting. The meeting reconvened at 10:41 p.m.
with all Councilmembers present.
9. Subject: Exclusive Negotiation Agreement (ENA) with an affordable housing developer
on a City owned parcel within the Mary Avenue right-of-way (APN: 326-27-053)
Recommended Action: Consider the Draft Agreement attached (Attachment A) and
decide whether to enter into the Agreement.
This item was pulled from the Consent Calendar for discussion.
Councilmembers asked questions and made comments.
Mayor Mohan opened the public comment period and the following people spoke.
27
CC 02-21-2024
27 of 456
City Council Minutes February 6, 2024
Page 8
Jennifer Griffin
Jean Bedord
Orrin Mahoney (representing Cupertino Rotary), on behalf of Jacob Billilleri (representing
Charities Housing) and Arts and Culture Commissioner Kiran Varshneya Rohra
(representing Cupertino Rotary)
Louise Saadati
Mayor Mohan closed the public comment period.
MOTION: Chao moved and Fruen seconded to approve the recommended action to enter
into the Agreement.
FRIENDLY AMENDMENT: Chao made a friendly amendment to include in the action to
involve the Housing Commission, when possible. The friendly amendment was not
included in the motion.
The motion carried with the following vote: Ayes: Wei, Mohan, Chao, Fruen, and Moore.
Noes: None. Abstain: None. Absent: None.
COUNCIL REPORTS AND COMMENTS
13. Subject: Councilmember Reports
Written communications for this item included a desk item Council Report for
Councilmember Moore.
Councilmembers reported on their various committees and activities as provided in the
published agenda.
CITY MANAGER REPORT
City Manager Pamela Wu reported on how the City prepared for and responded to the recent
weather event.
ORAL COMMUNICATIONS - CONTINUED – None
INFORMATIONAL ITEMS - None
COUNCIL AND STAFF COMMENTS AND FUTURE AGENDA ITEMS
Council did not hear this item.
ADJOURNMENT
28
CC 02-21-2024
28 of 456
City Council Minutes February 6, 2024
Page 9
14. Subject: Adjourn in memory of former Cupertino Mayor Philip Johnson
At 10:58 p.m., Mayor Mohan adjourned the Regular City Council Meeting in memory of former
Cupertino Mayor Philip Johnson.
Minutes prepared by:
_________________________
Kirsten Squarcia, City Clerk
29
CC 02-21-2024
29 of 456
CITY OF CUPERTINO
Agenda Item
23-12591 Agenda Date: 2/21/2024
Agenda #: 6.
Subject:Ratifying Accounts Payable for the periods ending December 29, 2023; January 5, 2024; January 12,
2024; January 19, 2024; and January 26, 2024
A. Adopt Resolution No. 24-015 ratifying Accounts Payable for the Period ending December 29, 2023;
B. Adopt Resolution No. 24-016 ratifying Accounts Payable for the Period ending January 5, 2024;
C. Adopt Resolution No. 24-017 ratifying Accounts Payable for the Period ending January 12, 2024;
D. Adopt Resolution No. 24-018 ratifying Accounts Payable for the Period ending January 19, 2024; and
E. Adopt Resolution No. 24-019 ratifying Accounts Payable for the Period ending January 26, 2024
CITY OF CUPERTINO Printed on 2/14/2024Page 1 of 1
powered by Legistar™30
CC 02-21-2024
30 of 456
CITY COUNCIL STAFF REPORT
Meeting: February 21, 2024
Subject
Ratifying Accounts Payable for the periods ending December 29, 2023; January 5, 2024;
January 12, 2024; January 19, 2024; and January 26, 2024
Recommended Action
A. Adopt Resolution no. 24-XXX ratifying Accounts Payable for the Period ending
December 29, 2023;
B. Adopt Resolution no. 24-XXX ratifying Accounts Payable for the Period ending
January 5, 2024;
C. Adopt Resolution no. 24-XXX ratifying Accounts Payable for the Period ending
January 12, 2024;
D. Adopt Resolution no. 24-XXX ratifying Accounts Payable for the Period ending
January 19, 2024; and
E. Adopt Resolution no. 24-XXX ratifying Accounts Payable for the Period ending
January 26, 2024
Discussion
Unlike the Monthly Treasurer’s and Treasurer’s Investment Reports requiring regular
reporting within a specific number of days, pursuant to California Government Code
Section 41004 and 53607, the frequency of reporting the City’s Payment Register follows
the City Resolution No 5939, where the report will be “presented to the City Council not
less often than once a month for ratification.” As such, monthly batches of Weekly
Payment Registers are presented to City Council on the second meeting following the
close of the reporting period to ensure sufficient time to present the previous month's
batches within one report.
The Accounts Payable report dated December 29, 2023, includes transactions pertaining
to payroll vendor ACH payments processed during the City's closure between Christmas
and New Year’s. These transactions were not accounted for in the previous Staff Report
due to the overlap in report issuance and transaction processing timelines.
Sustainability Impact
No sustainability impact.
31
CC 02-21-2024
31 of 456
Fiscal Impact
No fiscal impact.
California Environmental Quality Act
No California Environmental Quality Act impact.
_____________________________________
Prepared by: Jonathan Orozco, Finance Manager
Reviewed by: Kristina Alfaro, Director of Administrative Services and City Treasurer
Approved for Submission by: Pamela Wu, City Manager
A – Draft Resolution 12.29.23
B – Weekly AP Payment Register for the Period Ending 12.29.23
C – Draft Resolution 1.5.24
D – Weekly AP Payment Register for the Period Ending 1.5.24
E – Draft Resolution 1.12.24
F – Weekly AP Payment Register for the Period Ending 1.12.24
G – Draft Resolution 1.19.24
H – Weekly AP Payment Register for the Period Ending 1.19.24
I – Draft Resolution 1.26.24
J – Weekly AP Payment Register for the Period Ending 1.26.24
32
CC 02-21-2024
32 of 456
RESOLUTION NO. 24-XXX
A RESOLUTION OF THE CUPERTINO CITY COUNCIL
RATIFYING CERTAIN CLAIMS AND DEMANDS PAYABLE IN THE
AMOUNTS AND FROM THE FUNDS AS HEREINAFTER DESCRIBED FOR
GENERAL AND MISCELLANEOUS EXPENDITURES FOR THE PERIOD
ENDING DECEMBER 29, 2023
WHEREAS, the Director of Administrative Services or their designated
representative has certified to accuracy of the following claims and demands and
to the availability of funds for payment hereof; and
WHEREAS, the said claims and demands have been audited as required by law.
NOW, THEREFORE, BE IT RESOLVED that the City Council does hereby ratify
the following claims and demands in the amounts and from the funds as
hereinafter set forth in the attached Payment Register.
PASSED AND ADOPTED at a special meeting of the City Council of the City of
Cupertino this 21st day of February, 2024 by the following vote:
Vote Members of the City Council
AYES:
NOES:
ABSENT:
ABSTAIN:
SIGNED:
________
Sheila Mohan, Mayor
City of Cupertino
________________________
Date
ATTEST:
________
Kirsten Squarcia, City Clerk
________________________
Date
33
CC 02-21-2024
33 of 456
Resolution No. 24-XXX
Page 2
CERTIFICATION
The Finance Manager hereby certifies to the accuracy of said records and to the
availability of funds for payment.
CERTIFIED:
Jonathan Orozco, Finance Manager
34
CC 02-21-2024
34 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 12/23/2023 - To Payment Date: 12/29/2023
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
Main Account - Main Checking Account
EFT
38714 12/26/2023 Open Accounts Payable EMPLOYMENT DEVEL DEPT $51,888.82
Invoice Date Description Amount
12152023 12/15/2023 CA State Tax pp 12/2/23-12/15/23 $51,888.82
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$51,888.82
38715 12/26/2023 Open Accounts Payable IRS $164,997.45
Invoice Date Description Amount
12152023 12/15/2023 Federal Tax pp 12/2/23-12/15/23 $164,997.45
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$164,997.45
38716 12/28/2023 Open Accounts Payable P E R S $164,302.37
Invoice Date Description Amount
12152023 12/15/2023 PERS pp 12/2/23-12/15/23 $164,302.37
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$164,302.37
38717 12/28/2023 Open Accounts Payable P E R S $400.77
Invoice Date Description Amount
12012023C 12/15/2023 PERS Council pp 12/1/23-12/31/23 $400.77
Paying Fund Cash Account Amount
Monday, January 8, 2024Pages: 1 of 2user: Vi Tran 35
CC 02-21-2024
35 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 12/23/2023 - To Payment Date: 12/29/2023
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$400.77
Type EFT Totals:4 Transactions $381,589.41
Main Account - Main Checking Account Totals
Checks Status Count Transaction Amount Reconciled Amount
Open 0 $0.00 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Stopped 0 $0.00 $0.00
Total 0 $0.00 $0.00
EFTs Status Count Transaction Amount Reconciled Amount
Open 4 $381,589.41 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Total 4 $381,589.41 $0.00
All Status Count Transaction Amount Reconciled Amount
Open 4 $381,589.41 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Stopped 0 $0.00 $0.00
Total 4 $381,589.41 $0.00
Grand Totals:
Checks Status Count Transaction Amount Reconciled Amount
Open 0 $0.00 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Stopped 0 $0.00 $0.00
Total 0 $0.00 $0.00
EFTs Status Count Transaction Amount Reconciled Amount
Open 4 $381,589.41 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Total 4 $381,589.41 $0.00
All Status Count Transaction Amount Reconciled Amount
Open 4 $381,589.41 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Stopped 0 $0.00 $0.00
Total 4 $381,589.41 $0.00
Monday, January 8, 2024Pages: 2 of 2user: Vi Tran 36
CC 02-21-2024
36 of 456
RESOLUTION NO. 24-XXX
A RESOLUTION OF THE CUPERTINO CITY COUNCIL
RATIFYING CERTAIN CLAIMS AND DEMANDS PAYABLE IN THE
AMOUNTS AND FROM THE FUNDS AS HEREINAFTER DESCRIBED FOR
GENERAL AND MISCELLANEOUS EXPENDITURES FOR THE PERIOD
ENDING JANUARY 5, 2024
WHEREAS, the Director of Administrative Services or their designated
representative has certified to accuracy of the following claims and demands and
to the availability of funds for payment hereof; and
WHEREAS, the said claims and demands have been audited as required by law.
NOW, THEREFORE, BE IT RESOLVED that the City Council does hereby ratify
the following claims and demands in the amounts and from the funds as
hereinafter set forth in the attached Payment Register.
PASSED AND ADOPTED at a special meeting of the City Council of the City of
Cupertino this 21st day of February, 2024 by the following vote:
Vote Members of the City Council
AYES:
NOES:
ABSENT:
ABSTAIN:
SIGNED:
________
Sheila Mohan, Mayor
City of Cupertino
________________________
Date
ATTEST:
________
Kirsten Squarcia, City Clerk
________________________
Date
37
CC 02-21-2024
37 of 456
Resolution No. 24-XXX
Page 2
CERTIFICATION
The Finance Manager hereby certifies to the accuracy of said records and to the
availability of funds for payment.
CERTIFIED:
Jonathan Orozco, Finance Manager
38
CC 02-21-2024
38 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 12/30/2023 - To Payment Date: 1/5/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
Main Account - Main Checking Account
Check
733845 01/05/2024 Open Accounts Payable 3Form, LLC $7,484.29
Invoice Date Description Amount
CO-367955 11/02/2023 Library Donor Wall Fabrication $7,484.29
Paying Fund Cash Account Amount
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$7,484.29
733846 01/05/2024 Open Accounts Payable Arrow Acoustics, Inc. $7,466.00
Invoice Date Description Amount
10124A 10/30/2023 Library Donor Wall Installation of 3Form $7,466.00
Paying Fund Cash Account Amount
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$7,466.00
733847 01/05/2024 Open Accounts Payable AT&T $195.47
Invoice Date Description Amount
000020963839 12/12/2023 911 Emergency Lines 11/12/2023 - 12/11/2023 $195.47
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$195.47
733848 01/05/2024 Open Accounts Payable Comcast $967.39
Invoice Date Description Amount
187647289 12/01/2023 Business Class Internet - Mary, Stevens ck, Nov. 2023 $967.39
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$967.39
733849 01/05/2024 Open Accounts Payable County of Santa Clara -Office of the
Sheriff
$4,655.00
Invoice Date Description Amount
1800088107 12/19/2023 Festival Sheriff Charges $1,049.00
1800088108 12/19/2023 Festival Sheriff Charges - Diwali $3,606.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$4,655.00
733850 01/05/2024 Open Accounts Payable DIALOG Design LP $18,380.00
Invoice Date Description Amount
LP.100839 11/15/2023 Professional Services City Hall Renovation $18,380.00
Paying Fund Cash Account Amount
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$18,380.00
733851 01/05/2024 Open Accounts Payable Elcor Electric, Inc.$8,831.00
Invoice Date Description Amount
9860 12/22/2023 Quinlan Community Center - Replace Panel Switch $8,831.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$8,831.00
Monday, January 8, 2024Pages: 1 of 15user: Vi Tran 39
CC 02-21-2024
39 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 12/30/2023 - To Payment Date: 1/5/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
733852 01/05/2024 Open Accounts Payable Foster Brothers Security Systems $38.19
Invoice Date Description Amount
4373 12/21/2023 Facilities- Mortise Thumb Turn Lock $38.19
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$38.19
733853 01/05/2024 Open Accounts Payable Freyer & Laureta, Inc.$587.50
Invoice Date Description Amount
23-722 12/22/2023 Service Center Security Gate Project Design - Task IV $587.50
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$587.50
733854 01/05/2024 Open Accounts Payable HOME DEPOT CREDIT SERVICES $2,290.60
Invoice Date Description Amount
0024008 11/28/2023 Street- John S - Fence Post Mix, Pallet Deposit $148.79
0390843 11/28/2023 Facilities - Brandon M - LED Wall Light $38.25
9611507 11/29/2023 Facilities- Ty B-Rope, Alumin., Crimper Tool, Plug,
Center Punch
$247.56
9011891 11/29/2023 Facilities - Ty B - Screw Nut $3.01
0011866 11/28/2023 Grounds- Bill B- Concrete Patch, Gate Latches, Spring
Assortment
$70.67
9030053 11/29/2023 Trees- Ricardo A- Stem Mount $21.86
7030157 12/01/2023 Street- Michael K- Red Stake Flags $32.71
3012337 12/05/2023 Street- Dan B- Utility Knife, 6 Pack Duracell Batteries $70.78
8024167 11/30/2023 Trees- Adrian S- Weather Tamper $85.87
3602146 12/05/2023 Grounds- Travis W- Elect. PVC, Out. Box, Wallplate,
Adapt., PVC
$27.67
0321977 11/28/2023 Grounds- Travis W- Tapcon, Drill Bit, Flat Washer,
Screw
$131.21
9600163 11/29/2023 Facilities- Robert G- Black & White Grounding Plugs $66.65
9011892 11/29/2023 Facilities - Ty Blomquist Plywood for mounting
electronics
$76.87
0030649 12/08/2023 Street- Dan B- 3/8x3 Rebar, 3/8 in x 3 ft. Rebar $27.23
0524799 12/08/2023 Facilities- Michael C- Multi Surface Broom $21.84
1012599 12/07/2023 Facilities- Michael C- Plywood & Lumbar Fee $41.82
1400216 12/07/2023 Facilities- Brandon M- Commerical Stat-Tite $31.70
1512536 12/07/2023 Facilities- Domingo S- Shut Off Coupling, Exit Sign $97.23
7622272 12/11/2023 Facilities-Ty B-Tile Scraper, Bucket, Edge Blades,
Glass Scraper
$126.13
4091124 12/04/2023 Grounds-Ricardo A- Whip Kit, Liq. Tite, 3/4" Bell End,
3/4 Sched
$164.63
6525722 12/12/2023 Facilities- Michael M- HDX Handheld Invoice $9.81
9013772 12/19/2023 Street- Shawn T- Blanket, Super Glue, Tarp, Tape,
Felt Strip
$74.30
9527372 12/19/2023 Facilities- Ty B- Sandnet $65.56
8031342 12/20/2023 Facilities- Ty B- Interior Scaffold $325.94
7612013 12/01/2023 Facilities- Robert G- 7.5 Festive Pine Trees $216.56
5163939 12/13/2023 Facilities - Robert G- Credit for Returned Christmas
Tree
($108.27)
3400221 11/15/2023 Facilities- Brandon M- 2-inch Knife, Putty Knives $12.78
Monday, January 8, 2024Pages: 2 of 15user: Vi Tran 40
CC 02-21-2024
40 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 12/30/2023 - To Payment Date: 1/5/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
7390886 12/21/2023 Facilities- Brandon M- Toilet Fill Valve $16.38
8092062 12/20/2023 Facilities- Michael C- Moth Balls $41.50
8031373 12/20/2023 Grounds- Bill B- Sprayway Glass Foam $10.81
7024694 12/11/2023 Street- John S - Knit Poly Roller $92.75
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,845.05
230 - Env Mgmt Cln Crk Strm Drain 230 100-100 (Cash & Investments Assets Operating
Cash)
$70.78
270 - Transportation Fund 270 100-100 (Cash & Investments Assets Operating
Cash)
$343.07
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$31.70
733855 01/05/2024 Open Accounts Payable HUICHEN LIN $761.60
Invoice Date Description Amount
122123 12/21/2023 November-December 2023 Classes $761.60
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$761.60
733856 01/05/2024 Open Accounts Payable HY Floor & Gameline Painting $1,360.00
Invoice Date Description Amount
23275-01 12/22/2023 Facilities- Sports Center Multipurpose Room Floor $1,360.00
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$1,360.00
733857 01/05/2024 Open Accounts Payable IRON MOUNTAIN $1,912.55
Invoice Date Description Amount
JCHS870 12/31/2023 City Clerk Office Storage - 1/1/24 - 1/31/24 $1,912.55
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,912.55
733858 01/05/2024 Open Accounts Payable KELLY-MOORE PAINT CO INC $369.15
Invoice Date Description Amount
808-00000890604 12/21/2023 Facilities- Primer $369.15
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$369.15
733859 01/05/2024 Open Accounts Payable Kitchell CEM $7,000.00
Invoice Date Description Amount
116068 11/14/2023 Professional Services City-wide Building Assessment,
10/1/2023-1
$7,000.00
Paying Fund Cash Account Amount
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$7,000.00
733860 01/05/2024 Open Accounts Payable Li-Fen Lin $2,163.00
Invoice Date Description Amount
12222023 12/22/2023 December 2023 Program Payment $2,163.00
Paying Fund Cash Account Amount
Monday, January 8, 2024Pages: 3 of 15user: Vi Tran 41
CC 02-21-2024
41 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 12/30/2023 - To Payment Date: 1/5/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
580 - Recreation Program 580 100-100 (Cash & Investments Assets Operating
Cash)
$2,163.00
733861 01/05/2024 Open Accounts Payable MSI Fuel Management, Inc.$29,071.79
Invoice Date Description Amount
5793 12/14/2023 MSI Fuel Management, for FMLive SaaS $29,071.79
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$29,071.79
733862 01/05/2024 Open Accounts Payable Napa Auto Parts $95.79
Invoice Date Description Amount
713649 12/21/2023 Fleet- Air Filter $95.79
Paying Fund Cash Account Amount
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$95.79
733863 01/05/2024 Open Accounts Payable NOR-CAL SPECIALTIES $339.45
Invoice Date Description Amount
18120 10/19/2023 Retention on Sports Center Partition Replacement
Project
$339.45
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$339.45
733864 01/05/2024 Open Accounts Payable O'Reilly Auto Parts $70.06
Invoice Date Description Amount
2591-338852 12/28/2023 Fleet- Purge Sol $70.06
Paying Fund Cash Account Amount
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$70.06
733865 01/05/2024 Open Accounts Payable Operating Engineers Local Union No.
3
$1,560.65
Invoice Date Description Amount
12292023 12/29/2023 Union Dues pp 12/16/23-12/29/23 $1,560.65
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,560.65
733866 01/05/2024 Open Accounts Payable Quadient, Inc.$1,946.04
Invoice Date Description Amount
60727333 01/01/2024 Standard Maintenance for Postage Machine 01/31/24-
04/29/24)
$1,946.04
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,946.04
733867 01/05/2024 Open Accounts Payable REBECCA MCCORMICK $2,223.50
Invoice Date Description Amount
12222023 12/22/2023 December 2023 Program Payment $2,223.50
Paying Fund Cash Account Amount
580 - Recreation Program 580 100-100 (Cash & Investments Assets Operating
Cash)
$2,223.50
Monday, January 8, 2024Pages: 4 of 15user: Vi Tran 42
CC 02-21-2024
42 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 12/30/2023 - To Payment Date: 1/5/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
733868 01/05/2024 Open Accounts Payable RPM EXTERMINATORS INC $1,275.00
Invoice Date Description Amount
0105875 12/29/2023 Facilities - Bait Trap Service $1,275.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,020.00
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$255.00
733869 01/05/2024 Open Accounts Payable Rupa Narayanan $567.00
Invoice Date Description Amount
122023 12/20/2023 November-December 2023 Classes $567.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$567.00
733870 01/05/2024 Open Accounts Payable SAN JOSE WATER COMPANY $70,259.93
Invoice Date Description Amount
SJW112723-0 11/27/2023 0134100000-6 - 8303 Memorial Park $3,105.39
SJW112723-1 11/27/2023 0345710000-0 - Alderbrook Ln.FS $165.77
SJW112723-2 11/27/2023 0677310000-0 - 10300 Torre Ave LS (Comm.Hall)$699.68
SJW112723-3 11/27/2023 1198300000-8 - 21979 San Fernando Ave. 6620 (Trail
Restroom)
$280.17
SJW112723-4 11/27/2023 1250520000-1 - 6620 Blackberry/Snack $614.24
SJW112723-5 11/27/2023 1332100000-5 - Hyde Avenue $3,620.72
SJW112723-6 11/27/2023 1444810000-9 - Hyannisport Dr. LS $1,846.07
SJW112723-7 11/27/2023 1735700000-3 - 8303 Memorial Park Restroom $352.78
SJW112723-8 11/27/2023 1787904559-3 - 22221 McClellan 8302 $211.96
SJW112723-9 11/27/2023 1832500000-0 - Ruppell PL LS $1,043.77
SJW112723-10 11/27/2023 1836700000-9 - 8322 Mary Mini Park $287.42
SJW112723-11 11/27/2023 1987700000-0 - Alderbrook Ln LS $4,442.02
SJW112723-12 11/27/2023 2228610000-7 - 21111 Stevens Crk LS $301.94
SJW112723-13 11/27/2023 2243500000-9 - 10300 Ainsworth Dr.LS $1,660.09
SJW112723-14 11/27/2023 2286120000-8 - 21251 Stevens Creek Blvd $104.65
SJW112723-15 11/27/2023 2288800000-1 - Stokes Ave/8306 Somerset Park $512.57
SJW112723-16 11/27/2023 2649300000-9 - 10300 Torre Ave. FS (Comm.Hall)$165.77
SJW112723-17 11/27/2023 2787197813-9 - 8322 Stevens Creek Bl $88.52
SJW112723-18 11/27/2023 2892070144-9 - 22221 McClellan 8320 $209.31
SJW112723-19 11/27/2023 2958510000-0 - 10555 Mary Ave.$88.52
SJW112723-20 11/27/2023 2974010000-2 - 21251 Stevens Creek Blvd $679.61
SJW112723-21 11/27/2023 2984810000-3 - 8504 Alves and Stelling $367.31
SJW112723-22 11/27/2023 3207400000-4 - 21710 McClellan 8312 $1,304.21
SJW112723-23 11/27/2023 3322910000-4 - 8306 Somerset Park(Stokes Ave)$280.17
SJW112723-24 11/27/2023 3530520000-4 - 21111 Stev.Crk Blvd 8510 $468.99
SJW112723-25 11/27/2023 3612707315-7 - Stocklmeir Ct $252.16
SJW112723-26 11/27/2023 3673220000-5 - Stev.Crk/Cupertino Rd.$88.52
SJW112723-27 11/27/2023 3746710000-6 - 21111 Stev.Crk BL FS $164.46
SJW112723-28 11/27/2023 3841010000-2 - 8507 Monta Vista Park $338.26
SJW112723-29 11/27/2023 3856110000-9 - 8322 Stella Estates $88.52
SJW112723-30 11/27/2023 3857710000-1 - 8322 Foothill/Cupertino Rd $262.80
SJW112723-31 11/27/2023 3900520000-9 - 10300 Torre Ave $642.47
SJW112723-32 11/27/2023 3953083125-2 - Tuscany Pl $562.41
Monday, January 8, 2024Pages: 5 of 15user: Vi Tran 43
CC 02-21-2024
43 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 12/30/2023 - To Payment Date: 1/5/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
SJW112723-33 11/27/2023 4012210000-7 - 22601 Voss Av 8304 $2,172.78
SJW112723-34 11/27/2023 4103020000-4 - 6620 Blackberry/Snack $396.37
SJW112723-35 11/27/2023 4227520000-6 - 8303 Memorial Park $715.92
SJW112723-36 11/27/2023 4444250747-9 - Tuscany Pl $536.25
SJW112723-37 11/27/2023 5237400000-9 - Dumas Dr, LS $4,171.17
SJW112723-38 11/27/2023 5356310000-6 - 8322 Stev.Crk/Median $280.17
SJW112723-39 11/27/2023 5778910000-5 - 8504 Quinlan Ln.FS $104.65
SJW112723-40 11/27/2023 5835000000-4 - 8322 Stelling/Alves $175.66
SJW112723-41 11/27/2023 5929210000-1 - 8322 Ann Arbor Ct $182.91
SJW112723-42 11/27/2023 5948100000-4 - Emerg Irrig/Golf/ 6640 BBF (Irrigation)$6,406.79
SJW112723-43 11/27/2023 5986710000-6 - 10300 Torre Ave. FS (Comm.Hall)$547.31
SJW112723-44 11/27/2023 5997110000-9 - 7555 Barnhart Pl $2,247.34
SJW112723-45 11/27/2023 6292600000-1 - 10800 Torre Ave LS $1,452.13
SJW112723-46 11/27/2023 6296810000-8 - 8322 Stev.Crk Bl median $88.52
SJW112723-47 11/27/2023 6405210000-1 - 8506 McClellan Ranch $204.72
SJW112723-48 11/27/2023 6578520000-0 - 83 Foothill Bl/Alpine Dr22 LS $175.66
SJW112723-49 11/27/2023 6730700000-9 - 21975 San Fernando Av $270.08
SJW112723-50 11/27/2023 6788620000-4 - 10555 Mary Ave. 8503 $367.31
SJW112723-51 11/27/2023 6907100000-9 - Alderbrook Ln $251.67
SJW112723-52 11/27/2023 6935200000-9 - 8303 Memorial Park $4,913.82
SJW112723-53 11/27/2023 6973320000-5 - 8301 Linda Vista PK1 $476.26
SJW112723-54 11/27/2023 7036000000-7 - 85 Stev.Crk/Mary LS $182.91
SJW112723-55 11/27/2023 7054200000-8 - 8322 Phar Lap LS $53.66
SJW112723-56 11/27/2023 7495200000-3 - 10300 Torre Ave FS $165.77
SJW112723-57 11/27/2023 7630410000-1 - Salem Av.LS $175.66
SJW112723-58 11/27/2023 7930000000-1 - 8322 Stelling/Christensen Dr.$371.75
SJW112723-59 11/27/2023 8006810000-9 - 10450 Mann Dr $53.66
SJW112723-60 11/27/2023 8065700000-8 - Peninsula and Fitzgerald Is $60.91
SJW112723-61 11/27/2023 8270010000-9 - Janice Ave.LS $287.42
SJW112723-62 11/27/2023 8287220000-9 - 8322 Stevens Cr/San Antonio Ls $95.77
SJW112723-63 11/27/2023 8427420000-9 - 8322 Foothill/Vista Knoll $320.90
SJW112723-64 11/27/2023 8549600000-2 - Bubb Rd.LS $2,280.97
SJW112723-65 11/27/2023 8647520000-1 - 10555 Mary Ave/Corp Yard FS $269.11
SJW112723-66 11/27/2023 8755010000-9 - 10455 Miller Ave/Creekside $405.04
SJW112723-67 11/27/2023 8879620000-9 - 8504 Christensen Dr $345.52
SJW112723-68 11/27/2023 8886800000-6 - 8301 Linda Vista PK2 $476.26
SJW112723-69 11/27/2023 9377600000-7 - 8307 Varian Park $1,173.47
SJW112723-70 11/27/2023 9824500000-9 - 8322 Irrig SC/Stelling $342.68
SJW112723-71 11/27/2023 9988206980-2 (old 6784967491-5) - 8303 Memorial
Park
$2,361.60
SJW112923-0 11/29/2023 5122900000-8 - Portable Meter - Trees & ROW $601.56
SJW120423-0 12/04/2023 0251610000-1 - 19500 Calle De Barcelona $110.04
SJW120423-1 12/04/2023 1649600000-7 - Barrington Bridge Lane $938.41
SJW120423-2 12/04/2023 2628900000-7 - Farallone Dr.LS $2,992.26
SJW120423-3 12/04/2023 8148220000-3 - Sterling BL LS(Sterlinig BarnhartPk)$679.28
SJW120723-0 12/07/2023 0068410000-1 - 22221 McClellan 8302 $4,076.58
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$62,917.75
Monday, January 8, 2024Pages: 6 of 15user: Vi Tran 44
CC 02-21-2024
44 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 12/30/2023 - To Payment Date: 1/5/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
560 - Blackberry Farm 560 100-100 (Cash & Investments Assets Operating
Cash)
$6,406.79
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$935.39
733871 01/05/2024 Open Accounts Payable SYSCO - SAN FRANCISCO $423.49
Invoice Date Description Amount
650169367 11/16/2023 BWS Food - SYSCO - Food for 300 Breakfast w. Santa $423.49
Paying Fund Cash Account Amount
580 - Recreation Program 580 100-100 (Cash & Investments Assets Operating
Cash)
$423.49
733872 01/05/2024 Open Accounts Payable T-MOBILE $127.99
Invoice Date Description Amount
4158-122123 12/21/2023 966594158-122123 $127.99
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$127.99
733873 01/05/2024 Open Accounts Payable DYG Realty Investments LLC $5,000.00
Invoice Date Description Amount
274660 01/03/2024 10621 Gascoigne Dr, Encroachment, 274660 $5,000.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$5,000.00
733874 01/05/2024 Open Accounts Payable Orlow, Claire $95.00
Invoice Date Description Amount
2002119.032 12/21/2023 Trip Cancellation Refund $95.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$95.00
Type Check Totals:30 Transactions $177,517.43
EFT
38718 01/05/2024 Open Accounts Payable Colonial Life & Accident Insurance $29.16
Invoice Date Description Amount
12292023 12/29/2023 Colonial Products pp 12/16/23-12/29/23 $29.16
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$29.16
38719 01/05/2024 Open Accounts Payable Employment Development $12,487.43
Invoice Date Description Amount
12292023 12/29/2023 State Disability Insurance pp 12/16/23-12/29/23 $12,487.43
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$12,487.43
38720 01/05/2024 Open Accounts Payable National Deferred (ROTH)$3,234.89
Invoice Date Description Amount
12292023 12/29/2023 Nationwide Roth pp 12/16/23-12/29/23 $3,234.89
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$3,234.89
Monday, January 8, 2024Pages: 7 of 15user: Vi Tran 45
CC 02-21-2024
45 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 12/30/2023 - To Payment Date: 1/5/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
38721 01/05/2024 Open Accounts Payable National Deferred Compensatin $55,940.42
Invoice Date Description Amount
12292023 12/29/2023 Nationwide Deferred Compensation pp 12/16/23-
12/29/23
$55,940.42
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$55,940.42
38722 01/05/2024 Open Accounts Payable PERS-457K $14,878.30
Invoice Date Description Amount
12292023 12/29/2023 PERS 457K pp 12/16/23-12/29/23 $14,878.30
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$14,878.30
38723 01/05/2024 Open Accounts Payable State Disbursement Unit $349.65
Invoice Date Description Amount
12292023 12/29/2023 Child Support pp 12/16/23-12/29/23 $349.65
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$349.65
38724 01/05/2024 Open Accounts Payable Acuity Brands Technology Services,
Inc.
$45,500.00
Invoice Date Description Amount
E2024-75 12/20/2023 BuildingOS Atrius Platform 12/10/23 -12/9/24 $45,500.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$45,500.00
38725 01/05/2024 Open Accounts Payable Aquatic Central $3,000.00
Invoice Date Description Amount
100015 12/15/2023 Facilities - Dec 2023 Library Aquarium Maintenance $3,000.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$3,000.00
38726 01/05/2024 Open Accounts Payable B&H PHOTO-VIDEO $13,788.82
Invoice Date Description Amount
219629104 12/18/2023 24x SEAGATE ENTERPRS SATA 6GB/S HDD/REG,
2x SYNOLOGY RS2423RP+ 1
$13,788.82
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$13,788.82
38727 01/05/2024 Open Accounts Payable Bikeep Inc.$49.00
Invoice Date Description Amount
18041 12/31/2023 Bikeep Upkeep & Maintenance, December 2023 $49.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$49.00
Monday, January 8, 2024Pages: 8 of 15user: Vi Tran 46
CC 02-21-2024
46 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 12/30/2023 - To Payment Date: 1/5/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
38728 01/05/2024 Open Accounts Payable BKF Engineers $6,126.00
Invoice Date Description Amount
23120791 12/08/2023 Processional Services I-280 Trail, 10/30/2023-
11/26/2023
$6,126.00
Paying Fund Cash Account Amount
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$6,126.00
38729 01/05/2024 Open Accounts Payable BMI Imaging Systems $13,650.20
Invoice Date Description Amount
320782 11/15/2023 Finance Division Scanning Services - 32 Boxes Nov.
2023
$13,650.20
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$13,650.20
38730 01/05/2024 Open Accounts Payable BOSCO OIL INC DBA VALLEY OIL $13,637.53
Invoice Date Description Amount
179689 12/21/2023 Fleet- Diesel Fuel, Gasoline, Storage Fees,
Environmental Fees
$13,637.53
Paying Fund Cash Account Amount
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$13,637.53
38731 01/05/2024 Open Accounts Payable CSG Consultants, Inc.$330.00
Invoice Date Description Amount
54189 12/05/2023 Professional Svcs Emergency Storm Drain, 10//2/2023
-11/24/2023
$330.00
Paying Fund Cash Account Amount
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$330.00
38732 01/05/2024 Open Accounts Payable David Stillman $144.95
Invoice Date Description Amount
DavidS12192023 12/19/2023 Transportation Group Meeting $144.95
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$144.95
38733 01/05/2024 Open Accounts Payable Doggie Walk Bags, Inc.$3,437.44
Invoice Date Description Amount
0110994-IN 12/18/2023 Grounds- Unscented Disposable Bags $3,437.44
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$3,437.44
38734 01/05/2024 Open Accounts Payable Eflex Group, Inc $4,716.29
Invoice Date Description Amount
12292023 12/29/2023 FSA pp 12/16/23-12/29/23 $4,716.29
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$4,716.29
Monday, January 8, 2024Pages: 9 of 15user: Vi Tran 47
CC 02-21-2024
47 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 12/30/2023 - To Payment Date: 1/5/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
38735 01/05/2024 Open Accounts Payable Goldfarb & Lipman LLP $3,804.00
Invoice Date Description Amount
469410 12/20/2023 Housing Legal Review 2023/11 $2,607.00
463698 04/25/2023 Housing Legal Review 2023/4 (2)$409.50
469494 12/20/2023 Housing Legal Review 2023/11 (2)$787.50
Paying Fund Cash Account Amount
265 - BMR Housing 265 100-100 (Cash & Investments Assets Operating
Cash)
$3,804.00
38736 01/05/2024 Open Accounts Payable GRACE DUVAL $533.00
Invoice Date Description Amount
12222023 12/22/2023 December 2023 Program Payment $533.00
Paying Fund Cash Account Amount
580 - Recreation Program 580 100-100 (Cash & Investments Assets Operating
Cash)
$533.00
38737 01/05/2024 Open Accounts Payable GRAINGER INC $400.79
Invoice Date Description Amount
9942400954 12/20/2023 Facilities- Disposable Respirator, N95 Masks $145.94
9941941560 12/20/2023 Facilities- Roof Leak Diverter $196.05
9943520164 12/21/2023 Facilities- Vibration Absorber $58.80
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$400.79
38738 01/05/2024 Open Accounts Payable IFPTE LOCAL 21 $1,936.06
Invoice Date Description Amount
12292023 12/29/2023 Association Dues - CEA pp 12/16/23-12/29/23 $1,936.06
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,936.06
38739 01/05/2024 Open Accounts Payable IMPEC GROUP INC,.$67,835.00
Invoice Date Description Amount
2312133 12/31/2023 Facilities - December 2023 Janitorial Services $67,835.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$58,308.00
560 - Blackberry Farm 560 100-100 (Cash & Investments Assets Operating
Cash)
$1,159.00
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$8,368.00
38740 01/05/2024 Open Accounts Payable Jenny Tsai $3,965.00
Invoice Date Description Amount
12222023 12/22/2023 December 2023 Program Payment $3,965.00
Paying Fund Cash Account Amount
580 - Recreation Program 580 100-100 (Cash & Investments Assets Operating
Cash)
$3,965.00
38741 01/05/2024 Open Accounts Payable JIA THOMPSON $1,638.00
Invoice Date Description Amount
12222023 12/22/2023 December 2023 Program Payment $1,638.00
Paying Fund Cash Account Amount
Monday, January 8, 2024Pages: 10 of 15user: Vi Tran 48
CC 02-21-2024
48 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 12/30/2023 - To Payment Date: 1/5/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
580 - Recreation Program 580 100-100 (Cash & Investments Assets Operating
Cash)
$1,638.00
38742 01/05/2024 Open Accounts Payable JULIA KINST $55.00
Invoice Date Description Amount
JuliaK12192023 12/19/2023 Cell Phone Reimbursement 11/20/23-12/19/23 $55.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$55.00
38743 01/05/2024 Open Accounts Payable KEVIN GREENE $55.00
Invoice Date Description Amount
KevinG121823 12/18/2023 Cell Phone Reimbursement - Kevin G 11.19.23 to
12.18.23
$55.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$55.00
38744 01/05/2024 Open Accounts Payable KEVIN RIEDEN $50.00
Invoice Date Description Amount
KevinR12122023 12/12/2023 Cell Phone Bill through 12122023 $50.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$50.00
38745 01/05/2024 Open Accounts Payable KIMBALL-MIDWEST $1,044.98
Invoice Date Description Amount
101765624 12/27/2023 Street- Ult Promax Safety Red $1,044.98
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,044.98
38746 01/05/2024 Open Accounts Payable Mary Nickel $332.50
Invoice Date Description Amount
122123 12/21/2023 November-December 2023 Classes $332.50
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$332.50
38747 01/05/2024 Open Accounts Payable MissionSquare $17,156.77
Invoice Date Description Amount
12292023 12/29/2023 ICMA pp 12/16/23-12/29/23 $17,156.77
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$17,156.77
38748 01/05/2024 Open Accounts Payable Moore lacofano Goltsman, Inc. $22,857.02
Invoice Date Description Amount
0084101 12/15/2023 Prof Services All-Inclusive Playground, 11/1/2023-
11/30/2023
$13,658.19
0084102 12/15/2023 Professional Services LM Park, 11/1/2023-11/30/2023 $9,198.83
Paying Fund Cash Account Amount
280 - Park Dedication 280 100-100 (Cash & Investments Assets Operating
Cash)
$9,198.83
Monday, January 8, 2024Pages: 11 of 15user: Vi Tran 49
CC 02-21-2024
49 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 12/30/2023 - To Payment Date: 1/5/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$13,658.19
38749 01/05/2024 Open Accounts Payable Pacific Office Automation $10,210.32
Invoice Date Description Amount
080024 09/08/2023 July 28, 2023 MFP CH 080024 Meters Service $4,288.33
130532 10/20/2023 Sept. 21, 2023 MFP CH 130532 Meters service $1,087.50
973403 02/21/2022 Quarterly Maint. & Support for 15 mfp 11/15/21 -
02/14/22
$1,292.97
091215 05/24/2022 MFP Labor & Initialization PERFORMED ALIGNMENT
& CALIBRATION
$180.00
746530 11/21/2022 Quarterly Maint. & Support for 15 mfp 08/20/22 -
11/20/22
$3,361.52
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$10,210.32
38750 01/05/2024 Open Accounts Payable PARS/City of Cupertino $2,359.15
Invoice Date Description Amount
12292023 12/29/2023 PARS pp 12/16/23-12/29/23 $2,359.15
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$2,359.15
38751 01/05/2024 Open Accounts Payable Preferred Alliance, Inc.$2,019.12
Invoice Date Description Amount
0191752-IN 12/21/2023 DEC23 - Annual Recon & 11-20 Participants Offsite $2,019.12
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$2,019.12
38752 01/05/2024 Open Accounts Payable Quartic Solutions $724.50
Invoice Date Description Amount
3762 12/12/2023 FY24 Quartic for GIS Support - November 2023 $724.50
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$724.50
38753 01/05/2024 Open Accounts Payable Richard Yau $6,600.00
Invoice Date Description Amount
2310 11/22/2023 Professional Services CIP Project Management,
10/1/2023-10/31/20
$6,600.00
Paying Fund Cash Account Amount
210 - Storm Drain Improvement 210 100-100 (Cash & Investments Assets Operating
Cash)
$1,050.00
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$5,550.00
38754 01/05/2024 Open Accounts Payable RUBY CHEN $600.00
Invoice Date Description Amount
12222023 12/22/2023 December 2023 Program Payment $600.00
Paying Fund Cash Account Amount
580 - Recreation Program 580 100-100 (Cash & Investments Assets Operating
Cash)
$600.00
Monday, January 8, 2024Pages: 12 of 15user: Vi Tran 50
CC 02-21-2024
50 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 12/30/2023 - To Payment Date: 1/5/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
38755 01/05/2024 Open Accounts Payable Santa Clara Valley Transportation
Authority
$101,648.13
Invoice Date Description Amount
1800034295 12/21/2023 Congestion Mgmt Program (CMP) Member Agency
Fees 7/1/23-6/30/24
$101,648.13
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$101,648.13
38756 01/05/2024 Open Accounts Payable Sedgwick Claims Management
Services, Inc.
$2,343.33
Invoice Date Description Amount
400000168956 01/02/2024 Worker's Compensation Claims 1/1/24-1/31/24 $2,343.33
Paying Fund Cash Account Amount
620 - Workers' Compensation 620 100-100 (Cash & Investments Assets Operating
Cash)
$2,343.33
38757 01/05/2024 Open Accounts Payable Sonitrol/Pacific West Security, Inc.$11,670.00
Invoice Date Description Amount
79893 01/01/2024 Sports Center Security/Fire Alarm Inspections Jan-Mar
2024
$741.00
79792 01/01/2024 Traffic Ops Center Security/Fire Alarm Inspections
Jan-Mar 2024
$366.00
79880 01/01/2024 BBF Retreat Center Security/Fire Alarm Inspections
Jan-Mar 2024
$252.00
79888 01/01/2024 Monta Vista Security/Fire Alarm Inspections Jan-Mar
2024
$807.00
79887 01/01/2024 Senior Center Security/Fire Alarm Inspections Jan-Mar
2024
$174.00
79790 01/01/2024 BBF Cafe Security/Fire Alarm Inspections Jan-Mar
2024
$402.00
79883 01/01/2024 Library & Comm Hall Security/Fire Alarm Inspections
Jan-Mar 2024
$678.00
79886 01/01/2024 Wilson Snack Shack Security/Fire Alarm Inspections
Jan-Mar 2024
$138.00
79884 01/01/2024 QCC Security/Fire Alarm Inspections Jan-Mar 2024 $1,038.00
79784 01/01/2024 BBF Golf Maint Bldg Security/Fire Alarm Inspections
Jan-Mar 202
$273.00
79791 01/01/2024 City Hall Security/Fire Alarm Inspections Jan-Mar 2024 $1,749.00
79890 01/01/2024 Wilson Park Security/Fire Alarm Inspections Jan-Mar
2024
$261.00
79885 01/01/2024 City Hall Elevator Security/Fire Alarm Inspections Jan-
Mar 2024
$111.00
79889 01/01/2024 Creekside Park Security/Fire Alarm Inspections Jan-
Mar 2024
$345.00
79882 01/01/2024 MC Ranch& Comm Hall Security/Fire Alarm
Inspections Jan-Mar 2024
$1,548.00
79892 01/01/2024 Service Center Security/Fire Alarm Inspections Jan-
Mar 2024
$936.00
79785 01/01/2024 BBF Kiosk Security/Fire Alarm Inspections Jan-Mar
2024
$252.00
79891 01/01/2024 City Hall Security/Fire Alarm Inspections Jan-Mar 2024 $624.00
79881 01/01/2024 Library Security/Fire Alarm Inspections Jan-Mar 2024 $975.00
Monday, January 8, 2024Pages: 13 of 15user: Vi Tran 51
CC 02-21-2024
51 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 12/30/2023 - To Payment Date: 1/5/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$10,929.00
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$741.00
38758 01/05/2024 Open Accounts Payable Starbird Consulting LLC $4,480.00
Invoice Date Description Amount
0245 12/18/2023 Professional Services Regnart Rd through November
30.2023
$4,480.00
Paying Fund Cash Account Amount
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$4,480.00
38759 01/05/2024 Open Accounts Payable Superco Specialty Products $280.98
Invoice Date Description Amount
PSI532327 12/27/2023 Fleet- Preserv-It Liquid $280.98
Paying Fund Cash Account Amount
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$280.98
38760 01/05/2024 Open Accounts Payable TERI GERHARDT $35.46
Invoice Date Description Amount
TeriG111723 11/17/2023 Teri Gerhardt Cell reimbursement Oct 17 - Nov 17
2023
$35.46
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$35.46
38761 01/05/2024 Open Accounts Payable Vintage Contractors, Inc $31,240.00
Invoice Date Description Amount
7819 12/04/2023 Grounds- Basketball Resurfacing @ Creekside,
Hoover & Somerset
$31,240.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$31,240.00
38762 01/05/2024 Open Accounts Payable Zoom Video Communications, Inc.$286.72
Invoice Date Description Amount
INV232532369 12/22/2023 Zoom Webinar 1000 Dec 22, 2023 - Jan 21, 2024 $286.72
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$286.72
Type EFT Totals:45 Transactions $487,460.91
Main Account - Main Checking Account Totals
Checks Status Count Transaction Amount Reconciled Amount
Open 30 $177,517.43 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Stopped 0 $0.00 $0.00
Total 30 $177,517.43 $0.00
EFTs Status Count Transaction Amount Reconciled Amount
Monday, January 8, 2024Pages: 14 of 15user: Vi Tran 52
CC 02-21-2024
52 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 12/30/2023 - To Payment Date: 1/5/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
Open 45 $487,460.91 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Total 45 $487,460.91 $0.00
All Status Count Transaction Amount Reconciled Amount
Open 75 $664,978.34 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Stopped 0 $0.00 $0.00
Total 75 $664,978.34 $0.00
Grand Totals:
Checks Status Count Transaction Amount Reconciled Amount
Open 30 $177,517.43 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Stopped 0 $0.00 $0.00
Total 30 $177,517.43 $0.00
EFTs Status Count Transaction Amount Reconciled Amount
Open 45 $487,460.91 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Total 45 $487,460.91 $0.00
All Status Count Transaction Amount Reconciled Amount
Open 75 $664,978.34 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Stopped 0 $0.00 $0.00
Total 75 $664,978.34 $0.00
Monday, January 8, 2024Pages: 15 of 15user: Vi Tran 53
CC 02-21-2024
53 of 456
RESOLUTION NO. 24-XXX
A RESOLUTION OF THE CUPERTINO CITY COUNCIL
RATIFYING CERTAIN CLAIMS AND DEMANDS PAYABLE IN THE
AMOUNTS AND FROM THE FUNDS AS HEREINAFTER DESCRIBED FOR
GENERAL AND MISCELLANEOUS EXPENDITURES FOR THE PERIOD
ENDING JANUARY 12, 2024
WHEREAS, the Director of Administrative Services or their designated
representative has certified to accuracy of the following claims and demands and
to the availability of funds for payment hereof; and
WHEREAS, the said claims and demands have been audited as required by law.
NOW, THEREFORE, BE IT RESOLVED that the City Council does hereby ratify
the following claims and demands in the amounts and from the funds as
hereinafter set forth in the attached Payment Register.
PASSED AND ADOPTED at a special meeting of the City Council of the City of
Cupertino this 21st day of February, 2024 by the following vote:
Vote Members of the City Council
AYES:
NOES:
ABSENT:
ABSTAIN:
SIGNED:
________
Sheila Mohan, Mayor
City of Cupertino
________________________
Date
ATTEST:
________
Kirsten Squarcia, City Clerk
________________________
Date
54
CC 02-21-2024
54 of 456
Resolution No. 24-XXX
Page 2
CERTIFICATION
The Finance Manager hereby certifies to the accuracy of said records and to the
availability of funds for payment.
CERTIFIED:
Jonathan Orozco, Finance Manager
55
CC 02-21-2024
55 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/6/2024 - To Payment Date: 1/12/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
Main Account - Main Checking Account
Check
733875 01/12/2024 Open Accounts Payable 4imprint, Inc.$11,086.51
Invoice Date Description Amount
26354972 12/04/2023 T-Shirts, Polos, Sweatshirts, Jackets, Caps, Lanyards
for FT/PT
$11,086.51
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$11,086.51
733876 01/12/2024 Open Accounts Payable Advantage Grafix $534.71
Invoice Date Description Amount
48202 01/08/2024 Business cards for Council Members $534.71
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$534.71
733877 01/12/2024 Open Accounts Payable ALHAMBRA $600.38
Invoice Date Description Amount
21589707 122123 12/21/2023 Service Center - Water Rental $81.91
4984729 122323 12/23/2023 Employee Drinking Water for QCC $135.01
14628570 122823 12/28/2023 Employee Drinking Water for BBF $24.90
14628570 081023 08/10/2023 Employee Drinking Water for BBF $285.71
14628570 100523 10/05/2023 Employee Drinking Water for BBF $72.85
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$600.38
733878 01/12/2024 Open Accounts Payable CINTAS CORP $3,861.27
Invoice Date Description Amount
4178299494 12/27/2023 Service Center - Uniform Safety Apparel $1,283.69
4179002822 01/03/2024 Service Center - Uniform Safety Apparel $1,288.79
4179638741 01/09/2024 Service Center - Uniform Safety Apparel $1,288.79
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$3,861.27
733879 01/12/2024 Open Accounts Payable County of Santa Clara -Office of the
Sheriff
$13,396.00
Invoice Date Description Amount
1800088106 12/19/2023 LAW ENFORCEMENT SERVICES FOR PAY JOB -
10/7/23
$1,532.00
1800088109 12/19/2023 LAW ENFORCEMENT SERVICES FOR PAY JOB -
10/3-10/11
$2,396.00
1800088110 12/19/2023 LAW ENFORCEMENT SERVICES FOR PAY JOB -
9/5-9/27
$9,328.00
1800087702 11/21/2023 LIVE SCAN SVCS - OCT 23 $140.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$13,396.00
733880 01/12/2024 Open Accounts Payable Cupertino Sanitary District $1,998.18
Invoice Date Description Amount
2024-00000369 01/09/2024 Blackberry Farms Pool Discharge Fee $1,998.18
Tuesday, January 16, 2024Pages: 1 of 19user: Vi Tran 56
CC 02-21-2024
56 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/6/2024 - To Payment Date: 1/12/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
Paying Fund Cash Account Amount
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$1,998.18
733881 01/12/2024 Open Accounts Payable DEPARTMENT OF JUSTICE $64.00
Invoice Date Description Amount
698992 12/05/2023 Fingerprint Apps NOV 2023 $64.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$64.00
733882 01/12/2024 Open Accounts Payable Enterprise FM Trust $581.32
Invoice Date Description Amount
FBN4937246 01/05/2024 Fleet - Jan 2024 Ford Escape Vin# 9773 $581.32
Paying Fund Cash Account Amount
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$581.32
733883 01/12/2024 Open Accounts Payable Kevin C. Duggan $4,000.00
Invoice Date Description Amount
112023 11/20/2023 Planning for Conducting Council Workshop 111423 $4,000.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$4,000.00
733884 01/12/2024 Open Accounts Payable Napa Auto Parts $469.96
Invoice Date Description Amount
714358 01/04/2024 Fleet- Battery, Core Deposit, Env. Fee, Brake Cleaner,
Filter
$469.96
Paying Fund Cash Account Amount
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$469.96
733885 01/12/2024 Open Accounts Payable PACIFIC PRODUCTS AND
SERVICES LLC.
$220.97
Invoice Date Description Amount
33091 12/21/2023 Street- Cup Mount Delineator $220.97
Paying Fund Cash Account Amount
270 - Transportation Fund 270 100-100 (Cash & Investments Assets Operating
Cash)
$220.97
733886 01/12/2024 Open Accounts Payable PG&E $23,912.51
Invoice Date Description Amount
1715-122023 12/20/2023 4993063171-5 11/15/23-12/14/23 $23,912.51
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$23,912.51
733887 01/12/2024 Open Accounts Payable PG&E $96.93
Invoice Date Description Amount
4212-122723 12/27/2023 3535370421-2 11/20/23-12/19/23 $96.93
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$96.93
Tuesday, January 16, 2024Pages: 2 of 19user: Vi Tran 57
CC 02-21-2024
57 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/6/2024 - To Payment Date: 1/12/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
733888 01/12/2024 Open Accounts Payable PG&E $26,245.62
Invoice Date Description Amount
3296-122923 12/29/2023 5116972329-6 11/22/23-12/21/23 $26,245.62
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$26,245.62
733889 01/12/2024 Open Accounts Payable PG&E $271.41
Invoice Date Description Amount
0349-122623 12/26/2023 3042033034-9 11/17/23-12/18/23 $271.41
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$271.41
733890 01/12/2024 Open Accounts Payable PG&E $120.58
Invoice Date Description Amount
8413-122823 12/28/2023 4685859841-3 11/21/23-12/20/23 $120.58
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$120.58
733891 01/12/2024 Open Accounts Payable PG&E $22.58
Invoice Date Description Amount
0719-122623 12/26/2023 9223068071-9 11/17/23-12/18/23 $22.58
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$22.58
733892 01/12/2024 Open Accounts Payable PG&E $331.07
Invoice Date Description Amount
5875-122123 12/21/2023 2012160587-5 11/18/23-12/19/23 $331.07
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$331.07
733893 01/12/2024 Open Accounts Payable PG&E $217.47
Invoice Date Description Amount
9785-122823 12/28/2023 2016881978-5 11/20/23-12/19/23 $217.47
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$217.47
733894 01/12/2024 Open Accounts Payable PG&E $999.93
Invoice Date Description Amount
6480-120123 12/01/2023 5587684648-0 10/25/23-11/26/23 $999.93
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$999.93
733895 01/12/2024 Open Accounts Payable PG&E $380.35
Invoice Date Description Amount
7100-121523 12/15/2023 7166121710-0 11/7/23-12/7/23 $380.35
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$380.35
Tuesday, January 16, 2024Pages: 3 of 19user: Vi Tran 58
CC 02-21-2024
58 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/6/2024 - To Payment Date: 1/12/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
733896 01/12/2024 Open Accounts Payable REED & GRAHAM INC $452.81
Invoice Date Description Amount
072505 12/15/2023 Storm drain grate guards $452.81
Paying Fund Cash Account Amount
230 - Env Mgmt Cln Crk Strm Drain 230 100-100 (Cash & Investments Assets Operating
Cash)
$452.81
733897 01/12/2024 Open Accounts Payable SAE Communications $5,076.14
Invoice Date Description Amount
010124 01/01/2024 Communications Training Services $5,076.14
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$5,076.14
733898 01/12/2024 Open Accounts Payable SAN JOSE WATER COMPANY $592.82
Invoice Date Description Amount
7329-12282023 12/28/2023 0645365732-9 Streets 11-26-23 to 12-28-23 $592.82
Paying Fund Cash Account Amount
230 - Env Mgmt Cln Crk Strm Drain 230 100-100 (Cash & Investments Assets Operating
Cash)
$592.82
733899 01/12/2024 Open Accounts Payable State Controller $51.60
Invoice Date Description Amount
FTB-00005741 05/17/2023 FTB OFFSETS 2022 $51.60
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$51.60
733900 01/12/2024 Open Accounts Payable State Water Resources Control Board $399.00
Invoice Date Description Amount
WD-0259041 12/15/2023 Annual Permit Fee through 070123-063024 $399.00
Paying Fund Cash Account Amount
270 - Transportation Fund 270 100-100 (Cash & Investments Assets Operating
Cash)
$399.00
733901 01/12/2024 Open Accounts Payable The Permanente Medical Group INC.$180.00
Invoice Date Description Amount
8567-120923 12/09/2023 Physical Exams $180.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$180.00
733902 01/12/2024 Open Accounts Payable Utility Cost Management LLC $392.10
Invoice Date Description Amount
25620 08/04/2023 Utility savings analysis done by UCM $392.10
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$392.10
733903 01/12/2024 Open Accounts Payable VERIZON WIRELESS $6,229.96
Invoice Date Description Amount
9950910382-0 12/04/2023 408-202-5384 / Travis Warner $38.01
9950910382-1 12/04/2023 408-204-5990 / Diego Rodriguez $46.99
9950910382-2 12/04/2023 408-205-3349 / Rafael (Senior Center)$46.99
9950910382-3 12/04/2023 408-205-4541 / Iqraam Nabi $30.41
Tuesday, January 16, 2024Pages: 4 of 19user: Vi Tran 59
CC 02-21-2024
59 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/6/2024 - To Payment Date: 1/12/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
9950910382-4 12/04/2023 408-205-4849 / Brandon Martinez $38.01
9950910382-5 12/04/2023 408-205-5866 / Ricardo Acevedo $38.01
9950910382-6 12/04/2023 408-205-6589 / Street Lights $38.01
9950910382-7 12/04/2023 408-206-0538 / Quinton Adams $46.99
9950910382-8 12/04/2023 408-206-7434 / Albert Salvador $46.99
9950910382-9 12/04/2023 408-206-7512 / Fleet/Mechanic Shop $38.01
9950910382-10 12/04/2023 408-234-0189 / It Dept Mi-Fi $38.01
9950910382-11 12/04/2023 408-234-0978 / Infrastructure Department $38.01
9950910382-12 12/04/2023 408-234-1270 / Adrian Sanchez $38.01
9950910382-13 12/04/2023 408-234-4724 / Building Attendants Quinlan $46.99
9950910382-14 12/04/2023 408-309-0340 / Piu Ghosh $46.99
9950910382-15 12/04/2023 408-309-2536 / Ursula Syrova $46.99
9950910382-16 12/04/2023 408-309-2693 / Paul Tognetti $38.01
9950910382-17 12/04/2023 408-309-7042 / Kristina Alfaro $46.99
9950910382-18 12/04/2023 408-309-7640 / Bob Sabich $10.75
9950910382-19 12/04/2023 408-309-8401 / Paul Sapudar $38.01
9950910382-20 12/04/2023 408-309-9252 / Antonio Torrez $46.99
9950910382-21 12/04/2023 408-313-0045 / Roberto Montez $38.01
9950910382-22 12/04/2023 408-313-1148 / Toan Quach $46.99
9950910382-23 12/04/2023 408-313-3558 / Jared Lopez $38.01
9950910382-24 12/04/2023 408-313-4364 / Street Tree Maintenance #4 $38.01
9950910382-25 12/04/2023 408-313-5321 / Aaron Saiz $38.01
9950910382-26 12/04/2023 408-313-6943 / Victor Espinoza $38.01
9950910382-27 12/04/2023 408-314-4452 / Shawn Tognetti $46.99
9950910382-28 12/04/2023 408-314-6637 / Phuong Devries $46.99
9950910382-29 12/04/2023 408-314-9200 / Victoria Morin $38.01
9950910382-30 12/04/2023 408-315-3044 / Jonathan Ferrante $46.99
9950910382-31 12/04/2023 408-315-6764 / Rachelle Sander Mifi $38.01
9950910382-32 12/04/2023 408-315-8165 / Brian Gathers $38.01
9950910382-33 12/04/2023 408-316-2067 / Paul O Sullivan $46.99
9950910382-34 12/04/2023 408-318-0344 / Michael Woo $46.99
9950910382-35 12/04/2023 408-318-2012 / Aldo Corral $38.01
9950910382-36 12/04/2023 408-318-3663 / Pamela Wu $46.99
9950910382-37 12/04/2023 408-318-7365 / Danielle Carriendo $31.68
9950910382-38 12/04/2023 408-318-8726 / Diego Rodriguez $38.01
9950910382-39 12/04/2023 408-334-4885 / Michael Kimball $38.01
9950910382-40 12/04/2023 408-334-9082 / Sean Hatch $46.99
9950910382-41 12/04/2023 408-340-8564 / Portal Park $38.01
9950910382-42 12/04/2023 408-340-8648 / Chad Mosley $38.01
9950910382-43 12/04/2023 408-345-1639 / Sonya Lee $46.99
9950910382-44 12/04/2023 408-440-7136 / Andy Badal $38.01
9950910382-45 12/04/2023 408-460-1821 / Ty Bloomquist $67.64
9950910382-46 12/04/2023 408-466-4450 / Frank Villa $38.01
9950910382-47 12/04/2023 408-472-1568 / David Stillman $46.99
9950910382-48 12/04/2023 408-472-6522 / Rodney Weathers $31.68
9950910382-50 12/04/2023 408-472-7011 / Ty Bloomquist $38.01
9950910382-51 12/04/2023 408-472-7295 / Antonio Torrez $31.68
9950910382-52 12/04/2023 408-472-7857 / Paul O'sullivan $38.01
9950910382-53 12/04/2023 408-472-9907 / Manuel Barragan $52.78
9950910382-54 12/04/2023 408-478-1999 / James Lee $46.99
Tuesday, January 16, 2024Pages: 5 of 19user: Vi Tran 60
CC 02-21-2024
60 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/6/2024 - To Payment Date: 1/12/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
9950910382-55 12/04/2023 408-482-6096 / Monica Diaz $31.68
9950910382-56 12/04/2023 408-482-7747 / Matt Morley $46.99
9950910382-57 12/04/2023 408-483-5672 / M. Jonathan Ferrante $38.01
9950910382-58 12/04/2023 408-483-7859 / Shawn Tognetti $38.01
9950910382-59 12/04/2023 408-483-7997 / James Lee Ipad $31.68
9950910382-60 12/04/2023 408-483-9976 / On-Call Service Center $41.01
9950910382-61 12/04/2023 408-489-4395 / Beth Viajar $46.99
9950910382-62 12/04/2023 408-489-8336 / Piu Ghosh (Planning Comm Ipad)$20.28
9950910382-63 12/04/2023 408-489-9309 / Jonathan Ferrante $38.01
9950910382-64 12/04/2023 408-489-9310 / Kevin Riedan $38.01
9950910382-65 12/04/2023 408-493-3534 / Michael Garcia $38.01
9950910382-66 12/04/2023 408-493-3543 / Frank Villa $49.19
9950910382-67 12/04/2023 408-495-9234 / Thomas Chin $46.99
9950910382-68 12/04/2023 408-495-9873 / Thomas Leung $27.16
9950910382-69 12/04/2023 408-497-3691 / Sean Filbeck $38.01
9950910382-70 12/04/2023 408-497-4686 / Miles D'salmon $38.01
9950910382-71 12/04/2023 408-497-4862 / Jeff Trybus $31.68
9950910382-72 12/04/2023 408-497-8714 / Daniel Barone $38.01
9950910382-73 12/04/2023 408-510-0622 / Susan Michael $46.99
9950910382-74 12/04/2023 408-515-2301 / Vanessa Guerra $46.99
9950910382-75 12/04/2023 408-515-9208 / Debra Nascimento $46.99
9950910382-76 12/04/2023 408-515-9374 / Jimmy Tan $46.99
9950910382-77 12/04/2023 408-529-3149 / Luke Connolly $46.99
9950910382-78 12/04/2023 408-540-8405 / Rodney Weathers $46.99
9950910382-79 12/04/2023 408-568-3911 / Junnie Hemann $38.01
9950910382-80 12/04/2023 408-568-6465 / Piu Ghosh (Planning Comm Ipad)$20.28
9950910382-81 12/04/2023 408-599-8584 / Janet Liang $46.99
9950910382-82 12/04/2023 408-605-2546 / Jerry Anderson $38.01
9950910382-83 12/04/2023 408-605-3078 / Quinton Mifi 1 $38.01
9950910382-84 12/04/2023 408-605-3905 / Andrew Schmitt Mifi 2 $38.01
9950910382-85 12/04/2023 408-609-2453 / Amanda Hui $46.99
9950910382-86 12/04/2023 408-609-2803 / Harman Hunjan $38.01
9950910382-87 12/04/2023 408-609-2948 / Brian Policriti $38.01
9950910382-88 12/04/2023 408-609-4188 / Alfredo Alegria $38.01
9950910382-89 12/04/2023 408-609-4367 / Brandon Morales $38.01
9950910382-90 12/04/2023 408-609-8711 / Ralph Aquinaga $38.01
9950910382-91 12/04/2023 408-609-8826 / Domingo Santos $38.01
9950910382-92 12/04/2023 408-610-0601 / Paul Tognetti $46.99
9950910382-93 12/04/2023 408-614-4001 / Nathan Vasquez $46.99
9950910382-94 12/04/2023 408-628-8745 / Fernando Jimenez $38.01
9950910382-95 12/04/2023 408-630-0674 / Christopher Jensen $46.99
9950910382-96 12/04/2023 408-630-0900 / Adrian Melendez $38.01
9950910382-97 12/04/2023 408-630-1388 / Monica Diaz $46.99
9950910382-98 12/04/2023 408-642-0800 / Danielle Carriendo $46.99
9950910382-99 12/04/2023 408-642-4504 / Kevin Green $38.01
9950910382-100 12/04/2023 408-655-8680 / Jeff Trybus $46.99
9950910382-101 12/04/2023 408-655-8685 / Alex Wykoff $46.99
9950910382-102 12/04/2023 408-687-5821 / Jonathan Williams $38.01
9950910382-103 12/04/2023 408-687-9445 / Frankie De Leon $38.01
9950910382-104 12/04/2023 408-687-9854 / John Ramos $38.01
Tuesday, January 16, 2024Pages: 6 of 19user: Vi Tran 61
CC 02-21-2024
61 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/6/2024 - To Payment Date: 1/12/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
9950910382-105 12/04/2023 408-688-1613 / Peter Arnst $38.01
9950910382-106 12/04/2023 408-688-6252 / Benjamin Fu $46.99
9950910382-107 12/04/2023 408-691-7769 / Lori Baumgartner $3.20
9950910382-108 12/04/2023 408-693-0364 / Josh Illnicki $38.01
9950910382-109 12/04/2023 408-693-7116 / Brandon Morales $41.99
9950910382-110 12/04/2023 408-693-8086 / Kyle Garcia $38.01
9950910382-111 12/04/2023 408-693-8865 / Justice Patterson $38.01
9950910382-112 12/04/2023 408-693-9654 / Saul Herrara $38.01
9950910382-113 12/04/2023 408-694-8703 / Domingo Santos $46.99
9950910382-114 12/04/2023 408-707-0987 / Richard Banda $38.01
9950910382-115 12/04/2023 408-728-0905 / Michael Miranda $46.99
9950910382-116 12/04/2023 408-748-6390 / Tree Crew Ipad 3 $38.01
9950910382-118 12/04/2023 408-781-0290 / Daniel Barone $38.01
9950910382-119 12/04/2023 408-781-0663 / Bill Bridge $38.01
9950910382-120 12/04/2023 408-781-0799 / Brad Alexander $38.01
9950910382-121 12/04/2023 408-781-1340 / John Stiehr $38.01
9950910382-122 12/04/2023 408-781-4139 / Jose Ramirez $38.01
9950910382-123 12/04/2023 408-786-8664 / Jessica Javier $46.99
9950910382-124 12/04/2023 408-790-6356 / Jonathan Orozco $46.99
9950910382-125 12/04/2023 408-790-7036 / Pete Coglianese $46.99
9950910382-126 12/04/2023 408-790-7039 / Torin Scott $46.99
9950910382-127 12/04/2023 408-790-7045 / Rei Delgado $46.99
9950910382-128 12/04/2023 408-790-7534 / Robert Griffiths $46.99
9950910382-129 12/04/2023 408-841-6612 / T. Internet Emergncyvan $38.01
9950910382-130 12/04/2023 408-857-2355 / Amanda Hui Travel Phone $46.99
9950910382-131 12/04/2023 408-891-2787 / Ricardo Alvarez $38.01
9950910382-132 12/04/2023 408-891-4594 / Larry Lopez $38.01
9950910382-133 12/04/2023 408-891-9008 / Park Ranger Corridor $46.99
9950910382-134 12/04/2023 408-891-9503 / Rachelle Sander $46.99
9950910382-135 12/04/2023 408-892-1486 / Dan Vasquez $36.42
9950910382-136 12/04/2023 408-908-0519 / Karan Malhi $46.99
9950910382-137 12/04/2023 408-964-8211 / Michael Chandler $46.99
9950910382-138 12/04/2023 415-425-6339 / Kirsten Squarcia $46.99
9950910382-139 12/04/2023 650-208-1055 / Clinton Robustelli $38.01
9950910382-141 12/04/2023 650-208-1786 / Liang Chao $46.99
9950910382-142 12/04/2023 650-208-5861 / Kitty Moore $46.99
9950910382-143 12/04/2023 650-208-7398 / Hung Wei $46.99
9950910382-144 12/04/2023 650-279-3196 / Tommy Yu $46.99
9950910382-145 12/04/2023 650-339-0460 / Nathan Vasquez $38.01
9950910382-146 12/04/2023 650-339-0524 / Michael Chandler $38.01
9950910382-147 12/04/2023 650-339-0694 / Robert Griffiths $38.01
9950910382-148 12/04/2023 650-339-0786 / Michael Miranda $38.01
9950910382-149 12/04/2023 650-339-1590 / Karan Malhi $31.68
9950910382-150 12/04/2023 650-480-0930 / Alex Greer $46.99
9950910382-151 12/04/2023 669-251-1804 / Daniel Degu $41.99
9950910382-152 12/04/2023 669-252-3454 / Tina Kapoor $46.99
9950910382-153 12/04/2023 669-255-6066 / Jr Fruen $46.99
9950910382-154 12/04/2023 669-255-6437 / Sheila Mohan $46.99
Paying Fund Cash Account Amount
Tuesday, January 16, 2024Pages: 7 of 19user: Vi Tran 62
CC 02-21-2024
62 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/6/2024 - To Payment Date: 1/12/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$5,118.79
230 - Env Mgmt Cln Crk Strm Drain 230 100-100 (Cash & Investments Assets Operating
Cash)
$128.80
270 - Transportation Fund 270 100-100 (Cash & Investments Assets Operating
Cash)
$342.09
520 - Resource Recovery 520 100-100 (Cash & Investments Assets Operating
Cash)
$135.19
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$105.65
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$323.42
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$76.02
733904 01/12/2024 Open Accounts Payable JuanXiang $289.60
Invoice Date Description Amount
Xiang121723 12/17/2023 The applicant paid twice and caused the overpayment $289.60
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$289.60
733905 01/12/2024 Open Accounts Payable Cupertino Kung-Fu Club $100.00
Invoice Date Description Amount
2008519.030 12/22/2023 MVRC- 7.09-12.17.23 - Multi-Purpose Room Security
Deposit Refund
$100.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$100.00
733906 01/12/2024 Open Accounts Payable Cupertino Rotary Club $800.00
Invoice Date Description Amount
2008514.030 12/22/2023 QCC- 7.12-12.20.23 - Cupertino/Soc. Room Security
Deposit Refund
$800.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$800.00
733907 01/12/2024 Open Accounts Payable Cupertino Rotary Club $300.00
Invoice Date Description Amount
2008515.030 12/22/2023 QCC- 12.13.23- Social Room Security Deposit Refund $300.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$300.00
733908 01/12/2024 Open Accounts Payable Cupertino Rotary Club $300.00
Invoice Date Description Amount
2008516.030 12/22/2023 QCC- 9.27.23- Social Room Security Deposit Refund $300.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$300.00
733909 01/12/2024 Open Accounts Payable FUHSD $300.00
Invoice Date Description Amount
2008517.030 12/22/2023 QCC- 12.14.23- Social Room Security Deposit Refund $300.00
Tuesday, January 16, 2024Pages: 8 of 19user: Vi Tran 63
CC 02-21-2024
63 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/6/2024 - To Payment Date: 1/12/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$300.00
733910 01/12/2024 Open Accounts Payable HIKIDO DDS, Martin N $12.89
Invoice Date Description Amount
Martin010824 01/08/2024 The applicant overpaid the SQF $12.89
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$12.89
733911 01/12/2024 Open Accounts Payable LI, YIMING $12,300.00
Invoice Date Description Amount
279533 01/08/2024 10080 BRET AVE; ENCROACHMENT, 279533 $12,300.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$12,300.00
733912 01/12/2024 Open Accounts Payable Pada, Roxane $100.00
Invoice Date Description Amount
2008507.030 12/21/2023 QCC- 12.16.23- Creekside Building Security Deposit
Refund
$100.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$100.00
733913 01/12/2024 Open Accounts Payable Ponnapalli, Ramesh $300.00
Invoice Date Description Amount
2008512.030 12/22/2023 QCC- 12.12.23- Cupertino Room Security Deposit
Refund
$300.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$300.00
733914 01/12/2024 Open Accounts Payable Silicon Valley Clean Energy $500.00
Invoice Date Description Amount
2008492.030 12/20/2023 QCC- 1.11-12.13.23 Cupertino Room Security Deposit
Refund
$500.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$500.00
733915 01/12/2024 Open Accounts Payable TEPMAN, AVI $86,400.00
Invoice Date Description Amount
328746 01/09/2024 21610 Rainbow Dr., Grading, 328746 $86,400.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$86,400.00
733916 01/12/2024 Open Accounts Payable Whittom, Craig $35.00
Invoice Date Description Amount
Whittom01022024 01/04/2024 Livescan Reimbursement - Whittom $35.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$35.00
Tuesday, January 16, 2024Pages: 9 of 19user: Vi Tran 64
CC 02-21-2024
64 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/6/2024 - To Payment Date: 1/12/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
Type Check Totals:42 Transactions $204,523.67
EFT
38763 01/08/2024 Open Accounts Payable EMPLOYMENT DEVEL DEPT $57,649.00
Invoice Date Description Amount
12292023 12/29/2023 CA State Tax pp 12/16/23-12/29/23 $57,649.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$57,649.00
38764 01/08/2024 Open Accounts Payable IRS $187,757.56
Invoice Date Description Amount
12292023 12/29/2023 Federal Tax pp 12/16/23-12/29/23 $187,757.56
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$187,757.56
38765 01/11/2024 Open Accounts Payable P E R S $159,404.28
Invoice Date Description Amount
12292023 12/29/2023 PESR pp 12/16/23-12/29/23 $159,404.28
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$159,404.28
38766 01/10/2024 Open Accounts Payable California Public Employees'
Retirement System
$4,329.39
Invoice Date Description Amount
100000017393936 12/19/2023 2024 Replacement Benefit Contribution $4,329.39
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$4,329.39
38767 01/10/2024 Open Accounts Payable California Public Employees'
Retirement System
$431,711.64
Invoice Date Description Amount
7158-121423 12/14/2023 Health Premiums $431,711.64
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$311,845.05
642 - Retiree Medical 642 100-100 (Cash & Investments Assets Operating
Cash)
$119,866.59
38768 01/08/2024 Open Accounts Payable SQUARE, INC.$105.00
Invoice Date Description Amount
SQUARE010224 01/02/2024 SQUARE Team Plus 1/1/24-2/1/24 $105.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$105.00
38769 01/12/2024 Open Accounts Payable AIRGAS USA LLC $98.69
Invoice Date Description Amount
5505035448 12/31/2023 Fleet- Acetylene & Oxygen Cylinder Rental $98.69
Paying Fund Cash Account Amount
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$98.69
Tuesday, January 16, 2024Pages: 10 of 19user: Vi Tran 65
CC 02-21-2024
65 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/6/2024 - To Payment Date: 1/12/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
38770 01/12/2024 Open Accounts Payable All City Management Services, Inc. $44,349.40
Invoice Date Description Amount
90179 12/27/2023 School Crossing Guard Services through 121023-
122323
$15,206.54
89922 12/13/2023 School Crossing guard Services through 112623-
120923
$18,354.52
89618 11/29/2023 School Crossing Guard Services through 11122023-
11252023
$10,788.34
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$44,349.40
38771 01/12/2024 Open Accounts Payable Amazon Capital Services $3,221.59
Invoice Date Description Amount
13YM-9VNV-33DF 10/01/2023 1x Seagate Exos X16 14TB 7200 RPM SATA, 1x 360
Degree Kiosk Disp
$529.11
1T3V-MFQK-YK47 10/01/2023 4x Hanwha Techwin SBP-187HMW, 1x Standing 360
Degree Kiosk Displ
$297.28
1WQJ-CCMY-9RNV 12/01/2023 Facilities - Robert G Pressure Switch $29.94
1LY1-NHKH-CTLX 12/01/2023 Facilities - Robert G Steel Roof Hatch Safety Extension $226.19
1FKV-J39R-VCV1 01/01/2024 Service Center - Multiple Division Purchases Jan 2024 $625.68
1F9D-TT4J-DMLN 12/01/2023 Service Center - Multiple Division Purchases Nov 2023 $1,497.08
1F7W-CFLG-VVD1 01/01/2024 Amazon Purchases Dec 2023 - PR5 Outdoor
Recreation
$16.31
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,796.55
230 - Env Mgmt Cln Crk Strm Drain 230 100-100 (Cash & Investments Assets Operating
Cash)
$190.05
270 - Transportation Fund 270 100-100 (Cash & Investments Assets Operating
Cash)
$153.10
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$226.19
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$826.39
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$29.31
38772 01/12/2024 Open Accounts Payable Amazon Web Services, Inc.$197.89
Invoice Date Description Amount
1MHK-KCNM-X4VC 01/01/2024 2024 Wall Calendars for CMO Staff $197.89
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$197.89
38773 01/12/2024 Open Accounts Payable American Legal Publishing $1,277.99
Invoice Date Description Amount
31042 12/31/2023 2023 S-93 Supplement Pages $1,277.99
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,277.99
Tuesday, January 16, 2024Pages: 11 of 19user: Vi Tran 66
CC 02-21-2024
66 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/6/2024 - To Payment Date: 1/12/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
38774 01/12/2024 Open Accounts Payable Avocette Technologies Inc.$2,112.50
Invoice Date Description Amount
2311CU1 11/30/2023 FY24 Accela Support - ServicePlus++ As & When
Support - 2023.11
$2,112.50
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$2,112.50
38775 01/12/2024 Open Accounts Payable Azteca Systems, LLC $72,491.40
Invoice Date Description Amount
INV7795 12/04/2023 Cityworks Enterprise License Agreement 12/31/2023 -
12/30/2024
$72,491.40
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$72,491.40
38776 01/12/2024 Open Accounts Payable BMI Imaging Systems $4,209.55
Invoice Date Description Amount
320856 11/30/2023 Prep, scanning and delivery of PW records, 63 boxes $4,209.55
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$4,209.55
38777 01/12/2024 Open Accounts Payable BRIAN GATHERS $55.00
Invoice Date Description Amount
BrianG010424 01/04/2024 Cell Phone Reimbursement - Brian G 12.05.23 to
01.04.24
$55.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$55.00
38778 01/12/2024 Open Accounts Payable ChargePoint, Inc.$3,022.20
Invoice Date Description Amount
IN239630 01/03/2024 ChargePoint renewals 11/18/23 - 11/18/24 $3,022.20
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$3,022.20
38779 01/12/2024 Open Accounts Payable CLEARBLU ENVIRONMENTAL $792.07
Invoice Date Description Amount
31159 01/03/2024 Street- Dec 2023 Preventive Maint.$792.07
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$792.07
38780 01/12/2024 Open Accounts Payable Cyxtera Communications, LLC $1,283.71
Invoice Date Description Amount
B1-2392294 01/01/2024 FY24 Colocation Services Feb. 2024 $1,283.71
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$1,283.71
38781 01/12/2024 Open Accounts Payable DAN BARONE $55.00
Invoice Date Description Amount
DanB121823 12/18/2023 Cell Phone Reimbursement - Dan B 111923 to 121823 $55.00
Tuesday, January 16, 2024Pages: 12 of 19user: Vi Tran 67
CC 02-21-2024
67 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/6/2024 - To Payment Date: 1/12/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
Paying Fund Cash Account Amount
270 - Transportation Fund 270 100-100 (Cash & Investments Assets Operating
Cash)
$55.00
38782 01/12/2024 Open Accounts Payable Dasher Technologies, Inc.$3,755.00
Invoice Date Description Amount
PSI-DSH08772 12/29/2023 Palo Alto Support Panorama 25 11/23/2023 -
11/23/2024
$2,010.00
PSI-DSH08773 12/29/2023 5x VMware Production Support for vSphere 10/31/23 -
11/20/24
$1,745.00
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$3,755.00
38783 01/12/2024 Open Accounts Payable Ecological Concerns Incorporated $1,247.40
Invoice Date Description Amount
30587 11/06/2023 SCCP Ph 2 Restoration Continued Maintenance,
October 2023
$1,247.40
Paying Fund Cash Account Amount
427 - Stevens Creek Corridor Park 427 100-100 (Cash & Investments Assets Operating
Cash)
$1,247.40
38784 01/12/2024 Open Accounts Payable Ewing Irrigation Products Inc.$3,082.43
Invoice Date Description Amount
21292974 12/20/2023 Grounds- 20oz EWing White Aero Paint $3,082.43
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$3,082.43
38785 01/12/2024 Open Accounts Payable Geotab USA, Inc $2,815.25
Invoice Date Description Amount
IN366740 12/31/2023 FY24 Geotab for Telematics ProPlus Plan, Support
Dec. 2023
$2,815.25
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$2,815.25
38786 01/12/2024 Open Accounts Payable GRAINGER INC $21.96
Invoice Date Description Amount
9951161414 01/03/2024 Facilities- Fuses for Library Drinking Fountain $21.96
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$21.96
38787 01/12/2024 Open Accounts Payable Grassroots Ecology $29,169.99
Invoice Date Description Amount
CUST1223 12/30/2023 Quarterly Payment for MCRP Habitat Restoration FY
23-24
$29,169.99
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$29,169.99
Tuesday, January 16, 2024Pages: 13 of 19user: Vi Tran 68
CC 02-21-2024
68 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/6/2024 - To Payment Date: 1/12/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
38788 01/12/2024 Open Accounts Payable Health and Human Resource Center,
Inc.
$283.24
Invoice Date Description Amount
E0308346 12/08/2023 January 2024 EAP BENEFIT $283.24
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$283.24
38789 01/12/2024 Open Accounts Payable Health Care Employees $28,917.90
Invoice Date Description Amount
342793-342794 12/14/2023 January 2024 Dental Benefit $28,917.90
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$28,917.90
38790 01/12/2024 Open Accounts Payable Interstate Traffic Control Products,
Inc.
$998.05
Invoice Date Description Amount
261037 01/08/2024 Street- Boomerange Delineator $998.05
Paying Fund Cash Account Amount
270 - Transportation Fund 270 100-100 (Cash & Investments Assets Operating
Cash)
$998.05
38791 01/12/2024 Open Accounts Payable Kimball, Michael $100.00
Invoice Date Description Amount
UrbanTrees23 08/16/2023 FY 23 Educational Reimbursement $100.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$100.00
38792 01/12/2024 Open Accounts Payable Life Insurance Company of North
America
$8,220.75
Invoice Date Description Amount
15487_010124 01/09/2024 January 2024 NEW YORK LIFE $8,220.75
Paying Fund Cash Account Amount
641 - Compensated Absence/LTD 641 100-100 (Cash & Investments Assets Operating
Cash)
$8,220.75
38793 01/12/2024 Open Accounts Payable M-Group $12,500.00
Invoice Date Description Amount
2004101 10/13/2023 Assistant Planner Staffing Services - 2023/09 $12,600.00
CM10132023 10/13/2023 Apply CM related to INV# 2004101 ($100.00)
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$12,500.00
38794 01/12/2024 Open Accounts Payable Michael Baker International $2,187.00
Invoice Date Description Amount
1200816 01/05/2024 CDBG and CDBG-CV consultant 11-12/2023 $2,187.00
Paying Fund Cash Account Amount
260 - CDBG 260 100-100 (Cash & Investments Assets Operating
Cash)
$2,187.00
Tuesday, January 16, 2024Pages: 14 of 19user: Vi Tran 69
CC 02-21-2024
69 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/6/2024 - To Payment Date: 1/12/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
38795 01/12/2024 Open Accounts Payable Moss Adams LLP $1,350.00
Invoice Date Description Amount
102522952 11/29/2023 Professional Services OCT 23 $1,000.00
102530912 12/20/2023 Professional Services OCT23 $350.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,350.00
38796 01/12/2024 Open Accounts Payable NI Government Services Inc $79.04
Invoice Date Description Amount
23122907051 01/05/2024 Subscription Fee for MSAT 908-PTT and Voice $79.04
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$79.04
38797 01/12/2024 Open Accounts Payable ODP Business Solutions, LLC.$97.61
Invoice Date Description Amount
347353233001 12/21/2023 Office and General Supplies $57.13
346647960001 12/21/2023 Office Supplies $40.48
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$97.61
38798 01/12/2024 Open Accounts Payable Pacific Office Automation $1,609.06
Invoice Date Description Amount
828901 11/20/2023 Quarterly Maint. & Support for 15 mfp 8/20/23 -
11/20/23
$1,609.06
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$1,609.06
38799 01/12/2024 Open Accounts Payable Rise Housing Solutions, Inc $15,635.00
Invoice Date Description Amount
Cupertino - 032 12/31/2023 BMR Program Administrator 2023/12 $15,635.00
Paying Fund Cash Account Amount
265 - BMR Housing 265 100-100 (Cash & Investments Assets Operating
Cash)
$15,635.00
38800 01/12/2024 Open Accounts Payable RRM DESIGN GROUP $2,147.00
Invoice Date Description Amount
2132-01-0923 10/04/2023 CWP Mixed Use Design Review Standards 2023/09 $2,147.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$2,147.00
38801 01/12/2024 Open Accounts Payable Shute, Mihaly & Weinberger LLP $24,692.74
Invoice Date Description Amount
284222 12/27/2023 Legal Services, November 2023 $20,790.89
284391 12/27/2023 Legal Services, November 2023 $2,802.75
284392 12/27/2023 Legal Services, November 2023 $1,099.10
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$24,692.74
Tuesday, January 16, 2024Pages: 15 of 19user: Vi Tran 70
CC 02-21-2024
70 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/6/2024 - To Payment Date: 1/12/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
38802 01/12/2024 Open Accounts Payable Software One, Inc $102,482.39
Invoice Date Description Amount
US-PSI-1419317 01/02/2024 Microsoft Enterprise Software Licensing 1/1/24 -
12/31/24
$102,482.39
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$102,482.39
38803 01/12/2024 Open Accounts Payable Sonitrol/Pacific West Security, Inc.$1,093.75
Invoice Date Description Amount
81200 12/31/2023 Facilities- Access Cards $1,093.75
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,093.75
38804 01/12/2024 Open Accounts Payable SUNNYVALE FORD, INC.$97.52
Invoice Date Description Amount
230758FOW 01/04/2024 Fleet- HC CAP ASY $68.06
230757 01/04/2024 Fleet- HV CLIP $29.46
Paying Fund Cash Account Amount
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$97.52
38805 01/12/2024 Open Accounts Payable TERRYBERRY COMPANY LLC $238.45
Invoice Date Description Amount
143069-36127 12/31/2023 Employee Recognition - C. Walkowiak, J. Garfias $238.45
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$238.45
38806 01/12/2024 Open Accounts Payable THE HARTFORD $11,616.79
Invoice Date Description Amount
656342028198 01/09/2024 January 2024 Life and AD&D Benefit $11,323.20
756342142202 01/09/2024 January 2024 $293.59
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$11,616.79
38807 01/12/2024 Open Accounts Payable The Pun Group, LLP $10,000.00
Invoice Date Description Amount
114263 12/01/2023 Audit of the City for the year ended June 30, 2023
Progress #4
$10,000.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$10,000.00
38808 01/12/2024 Open Accounts Payable Thomson Reuters - West $805.93
Invoice Date Description Amount
849500429 01/01/2024 Online Subscription, Jan. 2024 - Acct 1000489718 $805.93
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$805.93
Tuesday, January 16, 2024Pages: 16 of 19user: Vi Tran 71
CC 02-21-2024
71 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/6/2024 - To Payment Date: 1/12/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
38809 01/12/2024 Open Accounts Payable TPx Communications $2,197.75
Invoice Date Description Amount
176585937-0 12/31/2023 Telephone Service for new VoIP System Dec. 2023 $2,197.75
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$2,197.75
38810 01/12/2024 Open Accounts Payable US BANK $22,333.24
Invoice Date Description Amount
KimL121523 12/15/2023 5169 CC Charges $393.00
DiegoZ121523 12/15/2023 8626 CC Charges $640.00
KevinG121523 12/15/2023 5856 CC Charges $375.00
NathanV121523 12/15/2023 4299 CC Charges $70.93
RicardoA121523 12/15/2023 9906 CC Charges $2,480.72
JonathanF121523 12/15/2023 3969 CC Charges $682.00
ShawnT121523 12/15/2023 9157 CC Charges $1,452.57
JerryA121523 12/15/2023 8636 CC Charges $90.00
SelbyM121523 12/15/2023 1711 CC Charges $15.64
UrsulaS121523 12/15/2023 2512 CC Charges $145.51
BrianG121523 12/15/2023 6202 CC Charges $750.00
JasonB121523 12/15/2023 CC Charges 3965 $95.42
AndrewS121523 12/15/2023 9993 CC Charges $1.35
CesarG121523 12/15/2023 9076 CC Charges $210.00
IkaP121523 12/15/2023 8108 CC Charges $259.27
TyB121523 12/15/2023 7739 CC Charges $80.65
ReiD121523 12/15/2023 1409CC Charges $753.21
KavithaA121523 12/15/2023 7567 CC Charges $392.12
MelissaR121523 12/15/2023 Batteries for CMO and Dias $22.91
KarenL121523 12/15/2023 9612 CC Charges $455.95
KrisG121523 12/15/2023 6959 CC Charges $1,076.98
MarilynP121523 12/15/2023 6763 CC Charges $829.00
TommyY121523 12/15/2023 3675 CC Charges $314.43
SundariP121523 12/15/2023 9702 CC Charges $209.95
DMilesS121523 12/15/2023 3659 CC Charges $288.23
ChristL121523 12/15/2023 7456 CC Charges $383.29
KennethE121523 12/15/2023 6671 CC Charges $221.98
RobertK121523 12/15/2023 7858 CC Charges $157.92
RandyV121523 12/15/2023 9138 CC Charges $71.99
mariahg121523 12/15/2023 7882 CC CHARGES $1,345.98
SonyaL121523 12/15/2023 8808 CC Charges $87.28
JennyK121523 12/15/2023 8829 CC Charges $30.66
AmandaH121523 12/15/2023 9326 CC Charges $3,038.11
DebraN121523 12/15/2023 3328 CC Charges $1,613.24
JanetL121523 12/15/2023 9949 CC Charges $2,480.12
BrantonC121523 12/15/2023 5320 CC Charges $817.83
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$16,620.23
230 - Env Mgmt Cln Crk Strm Drain 230 100-100 (Cash & Investments Assets Operating
Cash)
$1,497.91
Tuesday, January 16, 2024Pages: 17 of 19user: Vi Tran 72
CC 02-21-2024
72 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/6/2024 - To Payment Date: 1/12/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
265 - BMR Housing 265 100-100 (Cash & Investments Assets Operating
Cash)
$9.95
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$401.14
520 - Resource Recovery 520 100-100 (Cash & Investments Assets Operating
Cash)
$100.17
560 - Blackberry Farm 560 100-100 (Cash & Investments Assets Operating
Cash)
$455.95
580 - Recreation Program 580 100-100 (Cash & Investments Assets Operating
Cash)
$1,466.85
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$1,310.42
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$470.62
38811 01/12/2024 Open Accounts Payable Vision Service Plan $4,201.78
Invoice Date Description Amount
819475901 12/19/2023 January 2024 Vision Benefit $2,303.94
819475897 12/19/2023 January 2024 Vision Benefit $1,015.48
819489024 12/21/2023 January 2024 Vision Benefit $882.36
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$4,201.78
38812 01/12/2024 Open Accounts Payable Zayo Group, LLC $3,246.44
Invoice Date Description Amount
2024010030583 01/01/2024 FY24 Disaster Recovery Telecom services - Jan. 2024 $3,246.44
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$3,246.44
Type EFT Totals:50 Transactions $1,271,347.32
Main Account - Main Checking Account Totals
Tuesday, January 16, 2024Pages: 18 of 19user: Vi Tran 73
CC 02-21-2024
73 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/6/2024 - To Payment Date: 1/12/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
Checks Status Count Transaction Amount Reconciled Amount
Open 42 $204,523.67 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Stopped 0 $0.00 $0.00
Total 42 $204,523.67 $0.00
EFTs Status Count Transaction Amount Reconciled Amount
Open 50 $1,271,347.32 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Total 50 $1,271,347.32 $0.00
All Status Count Transaction Amount Reconciled Amount
Open 92 $1,475,870.99 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Stopped 0 $0.00 $0.00
Total 92 $1,475,870.99 $0.00
Grand Totals:
Checks Status Count Transaction Amount Reconciled Amount
Open 42 $204,523.67 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Stopped 0 $0.00 $0.00
Total 42 $204,523.67 $0.00
EFTs Status Count Transaction Amount Reconciled Amount
Open 50 $1,271,347.32 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Total 50 $1,271,347.32 $0.00
All Status Count Transaction Amount Reconciled Amount
Open 92 $1,475,870.99 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Stopped 0 $0.00 $0.00
Total 92 $1,475,870.99 $0.00
Tuesday, January 16, 2024Pages: 19 of 19user: Vi Tran 74
CC 02-21-2024
74 of 456
RESOLUTION NO. 24-XXX
A RESOLUTION OF THE CUPERTINO CITY COUNCIL
RATIFYING CERTAIN CLAIMS AND DEMANDS PAYABLE IN THE
AMOUNTS AND FROM THE FUNDS AS HEREINAFTER DESCRIBED FOR
GENERAL AND MISCELLANEOUS EXPENDITURES FOR THE PERIOD
ENDING JANUARY 19, 2024
WHEREAS, the Director of Administrative Services or their designated
representative has certified to accuracy of the following claims and demands and
to the availability of funds for payment hereof; and
WHEREAS, the said claims and demands have been audited as required by law.
NOW, THEREFORE, BE IT RESOLVED that the City Council does hereby ratify
the following claims and demands in the amounts and from the funds as
hereinafter set forth in the attached Payment Register.
PASSED AND ADOPTED at a special meeting of the City Council of the City of
Cupertino this 21st day of February, 2024 by the following vote:
Vote Members of the City Council
AYES:
NOES:
ABSENT:
ABSTAIN:
SIGNED:
________
Sheila Mohan, Mayor
City of Cupertino
________________________
Date
ATTEST:
________
Kirsten Squarcia, City Clerk
________________________
Date
75
CC 02-21-2024
75 of 456
Resolution No. 24-XXX
Page 2
CERTIFICATION
The Finance Manager hereby certifies to the accuracy of said records and to the
availability of funds for payment.
CERTIFIED:
Jonathan Orozco, Finance Manager
76
CC 02-21-2024
76 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/13/2024 - To Payment Date: 1/19/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
Main Account - Main Checking Account
Check
733917 01/19/2024 Open Accounts Payable Advantage Grafix $106.94
Invoice Date Description Amount
48201 01/08/2024 Lori B. Business Cards $106.94
Paying Fund Cash Account Amount
520 - Resource Recovery 520 100-100 (Cash & Investments Assets Operating
Cash)
$106.94
733918 01/19/2024 Open Accounts Payable Astrid Chevallier $1,000.00
Invoice Date Description Amount
01162024 01/16/2024 Arts & Culture Commission Distinguished Artist Award
Chevallier
$1,000.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,000.00
733919 01/19/2024 Open Accounts Payable AT&T $195.47
Invoice Date Description Amount
000021095794 01/12/2024 911 Emergency Lines 12/12/2023 - 01/11/2024 $195.47
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$195.47
733920 01/19/2024 Open Accounts Payable Bay Aerials Gymnastics $18,311.40
Invoice Date Description Amount
01162024 01/16/2024 December 2023 Program Payment $18,311.40
Paying Fund Cash Account Amount
580 - Recreation Program 580 100-100 (Cash & Investments Assets Operating
Cash)
$18,311.40
733921 01/19/2024 Open Accounts Payable California Housing Defense Fund $9,000.00
Invoice Date Description Amount
Stipulated_Judgm 01/02/2024 Stipulated Judgment re 23CV410817 $9,000.00
Paying Fund Cash Account Amount
265 - BMR Housing 265 100-100 (Cash & Investments Assets Operating
Cash)
$9,000.00
733922 01/19/2024 Open Accounts Payable Chloe Yoon $750.00
Invoice Date Description Amount
01162024 01/16/2024 Arts & Culture Commission Emerging Artist Award
Chloe Yoon
$750.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$750.00
733923 01/19/2024 Open Accounts Payable COMCAST $2,049.59
Invoice Date Description Amount
3310-010724 01/07/2024 8155 40 065 0183310 -010724 $2,049.59
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$423.47
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$559.95
Monday, January 22, 2024Pages: 1 of 14user: Vi Tran 77
CC 02-21-2024
77 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/13/2024 - To Payment Date: 1/19/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$1,066.17
733924 01/19/2024 Open Accounts Payable Comcast $967.39
Invoice Date Description Amount
190176184 01/01/2024 Business Class Internet - Mary, Stevens ck, Dec. 2023 $967.39
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$967.39
733925 01/19/2024 Open Accounts Payable County of Santa Clara -Office of the
Sheriff
$1,463,927.17
Invoice Date Description Amount
1800088322 01/02/2024 Advance for Law Enforcement Jan 2024 $1,463,927.17
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,463,927.17
733926 01/19/2024 Open Accounts Payable Data Ticket, Inc.$44.00
Invoice Date Description Amount
159854 01/10/2024 Online access to citation processing-Nov 2023 $44.00
Paying Fund Cash Account Amount
230 - Env Mgmt Cln Crk Strm Drain 230 100-100 (Cash & Investments Assets Operating
Cash)
$44.00
733927 01/19/2024 Open Accounts Payable Department of Conservation $8,714.44
Invoice Date Description Amount
Fee Oct-Dec 2023 01/19/2024 Dep of Conservation Fee Report OCT-DEC2023 $8,714.44
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$8,714.44
733928 01/19/2024 Open Accounts Payable Dex Systems Engineering $4,675.00
Invoice Date Description Amount
1623 01/10/2024 Repair ClearCom headsets; Tree Lighting Ceremony;
Install Monito
$4,675.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$4,675.00
733929 01/19/2024 Open Accounts Payable Division of the State Architect $269.10
Invoice Date Description Amount
DSA OCT-DEC23 01/19/2024 DISABILITY ACCESS & EDUCATION FEE
QUARTERLY REPORT ($4)
$269.10
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$269.10
733930 01/19/2024 Open Accounts Payable Mountain View Garden Center $344.84
Invoice Date Description Amount
114941 01/10/2024 Street- Sand for Sand Bags $344.84
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$344.84
Monday, January 22, 2024Pages: 2 of 14user: Vi Tran 78
CC 02-21-2024
78 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/13/2024 - To Payment Date: 1/19/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
733931 01/19/2024 Open Accounts Payable Napa Auto Parts $495.82
Invoice Date Description Amount
714555 01/08/2024 Fleet- Spin-on Fluid Filter $70.28
714564 01/08/2024 Fleet- ATC-10, ATC-15, ATC-25 Fuse Pac $42.40
714761 01/10/2024 Fleet- Spin-on Fluid Filter $123.26
714748 01/10/2024 Fleet- Wipers Blades $193.16
714830 01/11/2024 Fleet- Spin-On Fluid Filter $66.72
Paying Fund Cash Account Amount
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$495.82
733932 01/19/2024 Open Accounts Payable Occupational Health Centers of
California, A Medi
$35.00
Invoice Date Description Amount
81418575 01/09/2024 TB Test - C. Edmonds $35.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$35.00
733933 01/19/2024 Open Accounts Payable Operating Engineers Local Union No.
3
$1,537.62
Invoice Date Description Amount
01122024 01/12/2024 Union Dues pp 12/30/23-1/12/24 $1,537.62
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,537.62
733934 01/19/2024 Open Accounts Payable Pacific Polymers Company $4,265.63
Invoice Date Description Amount
7435 01/11/2024 Grounds - Can Liners $4,265.63
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$4,265.63
733935 01/19/2024 Open Accounts Payable PG&E $6,294.97
Invoice Date Description Amount
7100-011624 01/16/2024 7166121710-0 12/8/23-1/7/24 $6,294.97
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$6,294.97
733936 01/19/2024 Open Accounts Payable PG&E $8.94
Invoice Date Description Amount
1937-122723 12/27/2023 8754273193-7 11/20/23-12/19/23 $8.94
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$8.94
733937 01/19/2024 Open Accounts Payable PG&E $14.01
Invoice Date Description Amount
0322-121423 12/14/2023 5849279032-2 11/7/23-12/7/23 $14.01
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$14.01
Monday, January 22, 2024Pages: 3 of 14user: Vi Tran 79
CC 02-21-2024
79 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/13/2024 - To Payment Date: 1/19/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
733938 01/19/2024 Open Accounts Payable Royal Coach Tours $1,449.00
Invoice Date Description Amount
29290 01/31/2024 Charter 29290: 1/31/24 - MJ the Musical Trip $1,449.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,449.00
733939 01/19/2024 Open Accounts Payable Santa Clara County Emergency
Managers Association
$89.94
Invoice Date Description Amount
240018.1 01/17/2024 SCC EMA Membership $89.94
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$89.94
733940 01/19/2024 Open Accounts Payable SESAC $1,888.00
Invoice Date Description Amount
10703773 01/01/2024 Music License Yearly Fee 2024 - SESAC $1,888.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,888.00
733941 01/19/2024 Open Accounts Payable South Bay Foundry $720.28
Invoice Date Description Amount
0234072 01/10/2024 Street- 1P 1H Storm Drain, 6" Tall, 24" Clear Sign $720.28
Paying Fund Cash Account Amount
230 - Env Mgmt Cln Crk Strm Drain 230 100-100 (Cash & Investments Assets Operating
Cash)
$720.28
733942 01/19/2024 Open Accounts Payable SPRAYTEC $15,659.44
Invoice Date Description Amount
18502 11/22/2023 Fleet- Sprayer, Pump, Eng., Elect. Reel, Hose, &
Controller
$15,659.44
Paying Fund Cash Account Amount
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$15,659.44
733943 01/19/2024 Open Accounts Payable State Water Resources Control Board $399.00
Invoice Date Description Amount
WD-0258752 12/15/2023 Regnart Creek Trail Project through 070123-063024 $399.00
Paying Fund Cash Account Amount
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$399.00
733944 01/19/2024 Open Accounts Payable United Site Services $712.68
Invoice Date Description Amount
INV-4117125 01/15/2024 Trees/ROW- SWP 1/15/24-2/11/24 $492.78
114-13780757 01/16/2024 portable toilet at compost site Jan-Feb 2024 $219.90
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$492.78
520 - Resource Recovery 520 100-100 (Cash & Investments Assets Operating
Cash)
$219.90
Monday, January 22, 2024Pages: 4 of 14user: Vi Tran 80
CC 02-21-2024
80 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/13/2024 - To Payment Date: 1/19/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
733945 01/19/2024 Open Accounts Payable VNH Builders $18,167.53
Invoice Date Description Amount
2023-103-5 01/10/2024 Service Center Security Gate Project $18,167.53
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$18,167.53
733946 01/19/2024 Open Accounts Payable Yes In My Back Yard $6,000.00
Invoice Date Description Amount
Stipulated_Judgm 01/02/2024 Stipulated Judgment re 23CV410817 $6,000.00
Paying Fund Cash Account Amount
265 - BMR Housing 265 100-100 (Cash & Investments Assets Operating
Cash)
$6,000.00
733947 01/19/2024 Open Accounts Payable Lin, Yishan $150.00
Invoice Date Description Amount
01112024 01/11/2024 Arts & Culture Commission Young Artist Group B
Award Yishan Lin
$150.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$150.00
733948 01/19/2024 Open Accounts Payable Onorato, Janelle $32.25
Invoice Date Description Amount
2008584.030 01/12/2024 1/12/2024- Basketball #22159 Class Refund $32.25
Paying Fund Cash Account Amount
580 - Recreation Program 580 100-100 (Cash & Investments Assets Operating
Cash)
$32.25
733949 01/19/2024 Open Accounts Payable Peng, Tina $32.25
Invoice Date Description Amount
2008570.030 01/12/2024 1/12/2024- Basketball #22159 Class Refund $32.25
Paying Fund Cash Account Amount
580 - Recreation Program 580 100-100 (Cash & Investments Assets Operating
Cash)
$32.25
733950 01/19/2024 Open Accounts Payable Salazar, Lindsey $52.00
Invoice Date Description Amount
Salazar1 - 2024 01/02/2024 Livescan Reimbursement - Lindsey Salazar $52.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$52.00
733951 01/19/2024 Open Accounts Payable Subramanian, Laksh $77.50
Invoice Date Description Amount
2008561.030 01/12/2024 1/12/2024- Basketball #22158 Class Refund $77.50
Paying Fund Cash Account Amount
580 - Recreation Program 580 100-100 (Cash & Investments Assets Operating
Cash)
$77.50
733952 01/19/2024 Open Accounts Payable Wang, Amelia $150.00
Invoice Date Description Amount
01112024 01/11/2024 Arts & Culture Commission Young Artist Group A
Award Amelia Wang
$150.00
Paying Fund Cash Account Amount
Monday, January 22, 2024Pages: 5 of 14user: Vi Tran 81
CC 02-21-2024
81 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/13/2024 - To Payment Date: 1/19/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$150.00
Type Check Totals:36 Transactions $1,568,587.20
EFT
38813 01/19/2024 Open Accounts Payable Colonial Life & Accident Insurance $29.16
Invoice Date Description Amount
01122024 01/12/2024 Colonial Products pp 12/30/23-1/12/24 $29.16
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$29.16
38814 01/19/2024 Open Accounts Payable Employment Development $10,341.64
Invoice Date Description Amount
01122024 01/12/2024 State Disability Insurance pp 12/30/23-1/12/24 $10,341.64
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$10,341.64
38815 01/19/2024 Open Accounts Payable National Deferred (ROTH)$3,234.89
Invoice Date Description Amount
01122024 01/12/2024 Nationwide Roth pp 12/30/23-1/12/24 $3,234.89
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$3,234.89
38816 01/19/2024 Open Accounts Payable National Deferred Compensatin $21,174.02
Invoice Date Description Amount
01122024 01/12/2024 Nationwide Deferred Compensation pp 12/30/23-
1/12/24
$21,174.02
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$21,174.02
38817 01/19/2024 Open Accounts Payable PERS-457K $14,482.52
Invoice Date Description Amount
01122024 01/12/2024 PERS 457K pp 12/30/23-1/12/24 $14,482.52
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$14,482.52
38818 01/19/2024 Open Accounts Payable State Disbursement Unit $349.65
Invoice Date Description Amount
01122024 01/12/2024 Child Support pp 12/30/23-1/12/24 $349.65
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$349.65
38819 01/16/2024 Open Accounts Payable TASC $2,791.08
Invoice Date Description Amount
IN2988493 01/11/2024 FSA - Administration Fees 1/1/24-1/31/24 $2,791.08
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$2,791.08
Monday, January 22, 2024Pages: 6 of 14user: Vi Tran 82
CC 02-21-2024
82 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/13/2024 - To Payment Date: 1/19/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
38820 01/16/2024 Open Accounts Payable TASC $495.91
Invoice Date Description Amount
IN2988490 01/11/2024 HRA - Administration Fees 1/1/24-1/31/24 $495.91
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$495.91
38821 01/19/2024 Open Accounts Payable Amazon Capital Services $1,145.97
Invoice Date Description Amount
1F7W-CFLG-X4Y9 01/01/2024 Amazon Purchases Dec 2023 - PR3 Sports Recreation $52.36
1HRQ-YRJY-WPXH 01/01/2024 5x headphones, calculator, 2x USB-C charger, 2x UPS
Battery repl
$988.30
1MHK-KCNM-TVHN 01/01/2024 Amazon Purchases Dec 2023 - PR2 Senior Wellness $113.00
14LM-J14W-641X 12/15/2023 Apply credit memo related to invoice 136J-N776-GC64 ($41.46)
17YK-RTMM-6DNH 12/15/2023 Apply credit memo related to invoice 136J-N776-GC64 ($41.46)
17HF-TQXY-XH9T 01/01/2024 Amazon Purchases Dec 2023 - PR4 Events, Facilities,
Youth, Teen
$71.31
1H9V-XJDV-YFPX 01/01/2024 Apply credit memo related to invoice 17HF-TQXY-
XH9T
($11.35)
17GW-6YYG-XNGH 01/01/2024 Laptop desk stand- Lori B.$15.27
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$96.63
520 - Resource Recovery 520 100-100 (Cash & Investments Assets Operating
Cash)
$15.27
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$52.36
580 - Recreation Program 580 100-100 (Cash & Investments Assets Operating
Cash)
$52.33
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$929.38
38822 01/19/2024 Open Accounts Payable Amazon Web Services, Inc.$1,326.04
Invoice Date Description Amount
1542976409 01/02/2024 GIS AWS December 1 - December 31, 2023 $1,326.04
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$1,326.04
38823 01/19/2024 Open Accounts Payable Aquatic Central $3,000.00
Invoice Date Description Amount
100016 01/15/2024 Facilities - Jan 2024 Library Aquarium Maintenance $3,000.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$3,000.00
38824 01/19/2024 Open Accounts Payable B&H PHOTO-VIDEO $322.28
Invoice Date Description Amount
220343618 01/10/2024 1x SEAGATE EXOS 16TB-7200 ENTERPRS SATA
6GB/S
$322.28
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$322.28
Monday, January 22, 2024Pages: 7 of 14user: Vi Tran 83
CC 02-21-2024
83 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/13/2024 - To Payment Date: 1/19/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
38825 01/19/2024 Open Accounts Payable Balance Studios, Inc $13,333.34
Invoice Date Description Amount
4116 01/10/2024 McClellan Ranch AR App Payment 2 $13,333.34
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$13,333.34
38826 01/19/2024 Open Accounts Payable Battery Systems Inc.$549.75
Invoice Date Description Amount
43982401081126 01/08/2024 Fleet- Core Charges & Automotive Junk Exchange $213.66
35322401101352 01/12/2024 Fleet- 96R-75, S59-EX, Core Charges, Junk Exchange $336.09
Paying Fund Cash Account Amount
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$549.75
38827 01/19/2024 Open Accounts Payable Bay Area Community Resources $7,000.00
Invoice Date Description Amount
2411151-2 01/10/2024 Sustainability Service Corps $7,000.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$7,000.00
38828 01/19/2024 Open Accounts Payable BECK'S SHOES INC. $800.00
Invoice Date Description Amount
274078-00 01/12/2024 Safety Boots - Ty B, Jared Lopez $800.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$800.00
38829 01/19/2024 Open Accounts Payable BOSCO OIL INC DBA VALLEY OIL $1,986.02
Invoice Date Description Amount
618041 01/09/2024 Fleet- Shell Rotella, Recycling Fee, Motor Oil, Drum
Deposits
$1,986.02
Paying Fund Cash Account Amount
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$1,986.02
38830 01/19/2024 Open Accounts Payable CHAD MOSLEY $110.00
Invoice Date Description Amount
ChadM11202023 11/20/2023 Cell Phone Reimbursement through 102123-112023 $55.00
ChadM12202023 12/20/2023 Cell Phone Reimbursement through 112123-122023 $55.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$110.00
38831 01/19/2024 Open Accounts Payable CobbleStone Systems Corp. $4,666.66
Invoice Date Description Amount
16100 01/01/2024 Cobblestone for Contract Management Platform
1/1/24-1/1/25
$4,666.66
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$4,666.66
Monday, January 22, 2024Pages: 8 of 14user: Vi Tran 84
CC 02-21-2024
84 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/13/2024 - To Payment Date: 1/19/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
38832 01/19/2024 Open Accounts Payable Ecology Action of Santa Cruz $27,120.56
Invoice Date Description Amount
68121 12/31/2023 Pedestrian Safety Training Measure B through Oct.-
Dec. 2023
$27,120.56
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$27,120.56
38833 01/19/2024 Open Accounts Payable Eflex Group, Inc $4,716.29
Invoice Date Description Amount
01122024 01/12/2024 FSA pp 12/30/23-1/12/24 $4,716.29
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$4,716.29
38834 01/19/2024 Open Accounts Payable Environmental Systems Research
Institute, Inc.
$27,144.73
Invoice Date Description Amount
94641680 01/10/2024 ESRI Maintenance 01/17/2024 - 01/16/2025 $27,144.73
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$27,144.73
38835 01/19/2024 Open Accounts Payable ESHERICK HOMSEY DODGE AND
DAVIS, ARCHITECTS
$1,570.00
Invoice Date Description Amount
23110005 11/30/2023 Cupertno Library Donor Wall through 110123-113023 $1,570.00
Paying Fund Cash Account Amount
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$1,570.00
38836 01/19/2024 Open Accounts Payable FolgerGraphics $9,427.79
Invoice Date Description Amount
137453 10/19/2023 Become Block Leader Postcards $584.91
137970 11/30/2023 Cupertino Scene December 2023 $8,842.88
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$9,427.79
38837 01/19/2024 Open Accounts Payable GOT POWER, INC. DBA CD &
POWER, INC
$14,485.42
Invoice Date Description Amount
01-83463 01/10/2024 Facilities - City Hall Generator Repair $14,485.42
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$14,485.42
38838 01/19/2024 Open Accounts Payable GRAINGER INC $29.85
Invoice Date Description Amount
9960310259 01/11/2024 Service Center - AA Batteries $29.85
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$29.85
Monday, January 22, 2024Pages: 9 of 14user: Vi Tran 85
CC 02-21-2024
85 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/13/2024 - To Payment Date: 1/19/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
38839 01/19/2024 Open Accounts Payable Grimco, Inc. $177.88
Invoice Date Description Amount
31826267-01 01/10/2024 Streets - Cyan Design Jet Ink $177.88
Paying Fund Cash Account Amount
270 - Transportation Fund 270 100-100 (Cash & Investments Assets Operating
Cash)
$177.88
38840 01/19/2024 Open Accounts Payable IFPTE LOCAL 21 $1,937.27
Invoice Date Description Amount
01122024 01/12/2024 Association Dues - CEA pp 12/30/23-1/12/24 $1,937.27
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,937.27
38841 01/19/2024 Open Accounts Payable InservH2O Inc.$834.80
Invoice Date Description Amount
3511 01/10/2024 Facilities- Water Treatment Jan 2024 $834.80
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$834.80
38842 01/19/2024 Open Accounts Payable Jarvis Fay LLP $6,471.00
Invoice Date Description Amount
18434 12/31/2023 Legal Services, December 2023 $4,571.00
18433 12/31/2023 Legal Services for Dec. 2023 $1,900.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$6,471.00
38843 01/19/2024 Open Accounts Payable KIMBALL-MIDWEST $891.16
Invoice Date Description Amount
101797037 01/09/2024 Street- Lockwasher, Alloy Flat Washers, Thick Flat
Washer
$891.16
Paying Fund Cash Account Amount
270 - Transportation Fund 270 100-100 (Cash & Investments Assets Operating
Cash)
$891.16
38844 01/19/2024 Open Accounts Payable Law Office of Clare M. Gibson $1,320.00
Invoice Date Description Amount
1194 01/01/2024 Legal Services, December 2023 $1,320.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,320.00
38845 01/19/2024 Open Accounts Payable Mearns Consulting LLC $3,355.00
Invoice Date Description Amount
2411 01/15/2024 Professional Consulting Services, Dec 13 2023-Jan 2-
5, 8 2024
$3,355.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$3,355.00
38846 01/19/2024 Open Accounts Payable MissionSquare $17,156.77
Invoice Date Description Amount
01122024 01/12/2024 ICMA pp 12/30/23-1/12/24 $17,156.77
Monday, January 22, 2024Pages: 10 of 14user: Vi Tran 86
CC 02-21-2024
86 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/13/2024 - To Payment Date: 1/19/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$17,156.77
38847 01/19/2024 Open Accounts Payable Nexinite, LLC $410.00
Invoice Date Description Amount
INV-002377 01/08/2024 FY24 Support for CIP Management Hub December
2023
$410.00
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$410.00
38848 01/19/2024 Open Accounts Payable Nomad Transit LLC $204,806.04
Invoice Date Description Amount
INV001-9846 12/31/2023 Via Cupertino Shuttle for December 2023 $204,806.04
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$204,806.04
38849 01/19/2024 Open Accounts Payable ODP Business Solutions, LLC.$113.94
Invoice Date Description Amount
346605841001 12/20/2023 Service Center - Pens, Lanyards $113.94
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$113.94
38850 01/19/2024 Open Accounts Payable PARS/City of Cupertino $2,951.68
Invoice Date Description Amount
01122024 01/12/2024 PARS pp 12/30/23-1/12/24 $2,951.68
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$2,951.68
38851 01/19/2024 Open Accounts Payable PayPal Inc.$53.20
Invoice Date Description Amount
PPGW141206700 12/31/2023 VSV0001160385 cupertinoweb2 01-Dec-23 to 31-Dec-
23
$33.25
PPGW141024828 12/31/2023 VSV0003096477 cupertinoweb4 01-Dec-23 to 31-Dec-
23
$19.95
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$53.20
38852 01/19/2024 Open Accounts Payable PLAN JPA $503.00
Invoice Date Description Amount
PLAN-2024-0127 01/10/2024 General Liability Claims - December 2023 $503.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$503.00
38853 01/19/2024 Open Accounts Payable Professional Turf Management, Inc.$18,693.56
Invoice Date Description Amount
1283 12/21/2023 Grounds - Dec 2023 Golf Course Maint.$18,693.56
Paying Fund Cash Account Amount
Monday, January 22, 2024Pages: 11 of 14user: Vi Tran 87
CC 02-21-2024
87 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/13/2024 - To Payment Date: 1/19/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
560 - Blackberry Farm 560 100-100 (Cash & Investments Assets Operating
Cash)
$18,693.56
38854 01/19/2024 Open Accounts Payable Quartic Solutions $1,298.06
Invoice Date Description Amount
3807 01/09/2024 FY24 Quartic for GIS Support - December 2023 $1,298.06
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$1,298.06
38855 01/19/2024 Open Accounts Payable Recology South Bay $70,033.75
Invoice Date Description Amount
Dec-23 RY3 01/11/2024 City Payment to Recology Rate Year 2/1/23 - 1/31/24-
Dec 2023
$70,033.75
Paying Fund Cash Account Amount
520 - Resource Recovery 520 100-100 (Cash & Investments Assets Operating
Cash)
$70,033.75
38856 01/19/2024 Open Accounts Payable SCA of CA, LLC $18,563.57
Invoice Date Description Amount
107838CS 12/31/2023 Street Sweeping- December 2023 $18,563.57
Paying Fund Cash Account Amount
230 - Env Mgmt Cln Crk Strm Drain 230 100-100 (Cash & Investments Assets Operating
Cash)
$9,281.78
520 - Resource Recovery 520 100-100 (Cash & Investments Assets Operating
Cash)
$9,281.79
38857 01/19/2024 Open Accounts Payable South Bay Youth Sports LLC $5,088.51
Invoice Date Description Amount
56464 01/15/2024 December 2023 Program Payment $5,088.51
Paying Fund Cash Account Amount
580 - Recreation Program 580 100-100 (Cash & Investments Assets Operating
Cash)
$5,088.51
38858 01/19/2024 Open Accounts Payable Statcomm Inc.$15,519.13
Invoice Date Description Amount
12575217 12/31/2023 Facilities - Library Annual Fire Alarm & Sprinkler
Inspection
$2,541.48
12575235 12/31/2023 Facilities-Sport Center Annual Fire Alarm & Sprinkler
Inspection
$2,436.88
12575229 12/31/2023 Facilities- Comm. Hall Annual Fire Alarm & Sprinkler
Inspection
$1,782.45
12575238 12/31/2023 Facilities- Sen. Center Annual Fire Alarm & Sprinkler
Inspection
$2,810.93
12575232 12/31/2023 Facilities- Monte Vista Annual Fire Alarm & Sprinkler
Inspection
$1,461.87
12575222 12/31/2023 Facilities- City Hall Annual Fire Alarm & Sprinkler
Inspection
$1,862.90
12575241 12/31/2023 Facilities-Serv. Center Annual Fire Alarm & Sprinkler
Inspection
$1,208.44
12575239 12/31/2023 Facilities-E. Ed Center Annual Fire Alarm & Sprinkler
Inspection
$1,414.18
Paying Fund Cash Account Amount
Monday, January 22, 2024Pages: 12 of 14user: Vi Tran 88
CC 02-21-2024
88 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/13/2024 - To Payment Date: 1/19/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$13,082.25
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$2,436.88
38859 01/19/2024 Open Accounts Payable SUNNYVALE FORD, INC.$478.67
Invoice Date Description Amount
231060FOW 01/09/2024 Fleet- PR Filter $22.41
231271FOW 01/12/2024 Fleet- Separator, Gasket, & Ring $329.76
231268FOW 01/12/2024 Fleet- HV Hose $126.50
Paying Fund Cash Account Amount
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$478.67
38860 01/19/2024 Open Accounts Payable Suyesh Shrestha $81.15
Invoice Date Description Amount
SuyeshS12062023 12/06/2023 Cell Phone Reimbursement through 12062023 $40.57
SuyeshS01062024 01/06/2024 Cell Phone Reimbursement through 01062024 $40.58
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$81.15
38861 01/19/2024 Open Accounts Payable TJKM $10,230.50
Invoice Date Description Amount
0054964 11/30/2023 Apple Campus 2 TDM Monitoring through 11012023-
11302023
$10,230.50
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$10,230.50
38862 01/19/2024 Open Accounts Payable Turf Star, Inc.$1,039.01
Invoice Date Description Amount
7316079-00 01/11/2024 Fleet- Decals, Hoses, V-Belt, Cross Bearing Kit, Idler $1,039.01
Paying Fund Cash Account Amount
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$1,039.01
38863 01/19/2024 Open Accounts Payable Voler Strategic Advisors, Inc $6,000.00
Invoice Date Description Amount
1914 07/03/2023 Communication Strategy and Support, July 2023 $6,000.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$6,000.00
Type EFT Totals:51 Transactions $559,641.22
Main Account - Main Checking Account Totals
Checks Status Count Transaction Amount Reconciled Amount
Open 36 $1,568,587.20 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Stopped 0 $0.00 $0.00
Total 36 $1,568,587.20 $0.00
EFTs Status Count Transaction Amount Reconciled Amount
Monday, January 22, 2024Pages: 13 of 14user: Vi Tran 89
CC 02-21-2024
89 of 456
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/13/2024 - To Payment Date: 1/19/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
Open 51 $559,641.22 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Total 51 $559,641.22 $0.00
All Status Count Transaction Amount Reconciled Amount
Open 87 $2,128,228.42 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Stopped 0 $0.00 $0.00
Total 87 $2,128,228.42 $0.00
Grand Totals:
Checks Status Count Transaction Amount Reconciled Amount
Open 36 $1,568,587.20 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Stopped 0 $0.00 $0.00
Total 36 $1,568,587.20 $0.00
EFTs Status Count Transaction Amount Reconciled Amount
Open 51 $559,641.22 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Total 51 $559,641.22 $0.00
All Status Count Transaction Amount Reconciled Amount
Open 87 $2,128,228.42 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Stopped 0 $0.00 $0.00
Total 87 $2,128,228.42 $0.00
Monday, January 22, 2024Pages: 14 of 14user: Vi Tran 90
CC 02-21-2024
90 of 456
RESOLUTION NO. 24-XXX
A RESOLUTION OF THE CUPERTINO CITY COUNCIL
RATIFYING CERTAIN CLAIMS AND DEMANDS PAYABLE IN THE
AMOUNTS AND FROM THE FUNDS AS HEREINAFTER DESCRIBED FOR
GENERAL AND MISCELLANEOUS EXPENDITURES FOR THE PERIOD
ENDING JANUARY 26, 2024
WHEREAS, the Director of Administrative Services or their designated
representative has certified to accuracy of the following claims and demands and
to the availability of funds for payment hereof; and
WHEREAS, the said claims and demands have been audited as required by law.
NOW, THEREFORE, BE IT RESOLVED that the City Council does hereby ratify
the following claims and demands in the amounts and from the funds as
hereinafter set forth in the attached Payment Register.
PASSED AND ADOPTED at a special meeting of the City Council of the City of
Cupertino this 21st day of February, 2024 by the following vote:
Vote Members of the City Council
AYES:
NOES:
ABSENT:
ABSTAIN:
SIGNED:
________
Sheila Mohan, Mayor
City of Cupertino
________________________
Date
ATTEST:
________
Kirsten Squarcia, City Clerk
________________________
Date
91
CC 02-21-2024
91 of 456
Resolution No. 24-XXX
Page 2
CERTIFICATION
The Finance Manager hereby certifies to the accuracy of said records and to the
availability of funds for payment.
CERTIFIED:
Jonathan Orozco, Finance Manager
92
CC 02-21-2024
92 of 456
Payment Register
City of Cupertino
From Payment Date: 1/20/2024 - To Payment Date: 1/26/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
Main Account - Main Checking Account
Check
733953 01/26/2024 Open Accounts Payable AT & T $115.15
Invoice Date Description Amount
5558-122823 12/28/2023 960 731-7142 555 8 $115.15
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$115.15
733954 01/26/2024 Open Accounts Payable BRUCE BARTON PUMP SERVICE
INC
$2,075.30
Invoice Date Description Amount
0114605-IN 01/17/2024 Grounds- US Seal, Sleeve Kit, Gasket, Slinger, Motor $2,075.30
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$2,075.30
733955 01/26/2024 Open Accounts Payable California Building Standards
Commission
$1,946.70
Invoice Date Description Amount
BSA OCT- DEC23 01/26/2024 BSA OCT- DEC23 $1,946.70
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,946.70
733956 01/26/2024 Open Accounts Payable California Water Services $5,761.60
Invoice Date Description Amount
1188-122123 12/21/2023 5606531188 11/21/23-12/20/23 $99.12
3333-122923 12/29/2023 5926633333 11/17/23-12/18/23 $5,662.48
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$5,761.60
733957 01/26/2024 Open Accounts Payable CINTAS CORP $2,696.81
Invoice Date Description Amount
4180352931 01/16/2024 Service Center - Uniform Safety Apparel $1,280.69
4181106876 01/23/2024 Service Center - Uniform Safety Apparel $1,416.12
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$2,696.81
733958 01/26/2024 Open Accounts Payable Corporation of the Fine Arts Museum $986.00
Invoice Date Description Amount
103323999 12/20/2023 Senior Trip: 2/22/24 - Fashion and Flowers Trip $986.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$986.00
733959 01/26/2024 Open Accounts Payable County of Santa Clara -Office of the
Sheriff
$20.00
Invoice Date Description Amount
1800087966 12/18/2023 LIVE SCAN SVCS - NOV 23 $20.00
Paying Fund Cash Account Amount
Monday, January 29, 2024Pages: 1 of 23user: Vi Tran 93
CC 02-21-2024
93 of 456
Payment Register
City of Cupertino
From Payment Date: 1/20/2024 - To Payment Date: 1/26/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$20.00
733960 01/26/2024 Open Accounts Payable FEDEX $19.16
Invoice Date Description Amount
8-363-46310 12/29/2023 Shipping Svcs - IT $19.16
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$19.16
733961 01/26/2024 Open Accounts Payable Formatop $3,126.00
Invoice Date Description Amount
6032 01/11/2024 Facilities- Mercury Vesta P-Lam Sheets $3,126.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$3,126.00
733962 01/26/2024 Open Accounts Payable HUICHEN LIN $546.00
Invoice Date Description Amount
012324 HL 01/23/2024 January fitness classes $546.00
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$546.00
733963 01/26/2024 Open Accounts Payable Li-Fen Lin $200.00
Invoice Date Description Amount
012324 LFL 01/23/2024 January fitness classes $200.00
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$200.00
733964 01/26/2024 Open Accounts Payable lnternational Institute of Municipal
Clerks/IIMC
$150.00
Invoice Date Description Amount
ID#37188 01/10/2024 IIMC Membership for Lauren Sapudar $150.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$150.00
733965 01/26/2024 Open Accounts Payable Mood Media $114.18
Invoice Date Description Amount
57971877 01/01/2024 MOOD MEDIA Recurring Services from 01-JAN-24 to
31-JAN-24
$114.18
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$114.18
733966 01/26/2024 Open Accounts Payable Napa Auto Parts $545.53
Invoice Date Description Amount
715290 01/17/2024 Fleet- Tire Valves, Alarm, Socket $485.14
715344 01/18/2024 Fleet- Pin Clips $60.39
Paying Fund Cash Account Amount
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$545.53
Monday, January 29, 2024Pages: 2 of 23user: Vi Tran 94
CC 02-21-2024
94 of 456
Payment Register
City of Cupertino
From Payment Date: 1/20/2024 - To Payment Date: 1/26/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
733967 01/26/2024 Open Accounts Payable NV5, Inc.$999.50
Invoice Date Description Amount
000000352929 10/02/2023 Plan Review Services Aug-SHORING BLD-2023-
0394,21301 Point Reyes
$999.50
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$999.50
733968 01/26/2024 Open Accounts Payable PG&E $887.44
Invoice Date Description Amount
6480-010224 01/02/2024 5587684648-0 11/27/23-12/25/23 $887.44
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$887.44
733969 01/26/2024 Open Accounts Payable PG&E $21.75
Invoice Date Description Amount
0322-011224 01/12/2024 5849279032-2 12/8/23-1/7/24 $21.75
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$21.75
733970 01/26/2024 Open Accounts Payable PG&E $57,747.37
Invoice Date Description Amount
0092-122823-0 12/28/2023 116367401 -Miller W/S N of Greenwood $19.38
0092-122823-1 12/28/2023 116367359 -Homestead and Heron, traffic control svc $68.87
0092-122823-2 12/28/2023 116367150 -Homestead and Wolfe Road, Sunnyvale $110.05
0092-122823-3 12/28/2023 116367155 -Homestead and Blaney, Cupertino Traffic
Signal, Sunny
$68.61
0092-122823-4 12/28/2023 116367275 -Homestead and Tantau, Cupertino Traffic
Signal, Sunny
$107.17
0092-122823-5 12/28/2023 116367013 -112017763 -11370 S Stelling Rd,
Irrigation Control
$7.97
0092-122823-6 12/28/2023 116644889 19500 Pruneridge ave pole TP16660 $7.97
0092-122823-7 12/28/2023 118007511 -21834 Corte Madera Ln $4.86
0092-122823-8 12/28/2023 1110161867 - Wolfe Rd @ Apple Campus Driveway $70.64
0092-122823-9 12/28/2023 116367793 -101 Skyport Dr, DG A, San Jose,
PGandE-Owned St/Highw
$774.12
0092-122823-10 12/28/2023 110958527 115145264 -Randy Lane & Larry Way-
Streetlights
$62.18
0092-122823-11 12/28/2023 111736580 SF Cupertino 075 $4.80
0092-122823-12 12/28/2023 116367357 -N De Anza 188 FT N/Valley Green Dr,
Irrig Controller
$17.73
0092-122823-13 12/28/2023 116367907 -S/W Corner Stelling and Green leaf,
Traffic Signal
$90.99
0092-122823-14 12/28/2023 116367113 -Miller E/S 100N off Calle De Barcelona $83.59
0092-122823-15 12/28/2023 116367836 -De Anza Blvd E/S S/O Lazaneo, Sprinkler
Control
$9.86
0092-122823-16 12/28/2023 116367677 -De Anza and Lazaneo, Sprinkler System $9.86
0092-122823-17 12/28/2023 116367025 -De Anza and Lazaneo, Traffic Signal $94.54
0092-122823-18 12/28/2023 110659172 -N De Anza 455FT S/O Mariani Dr, Irrig
Control
$13.76
Monday, January 29, 2024Pages: 3 of 23user: Vi Tran 95
CC 02-21-2024
95 of 456
Payment Register
City of Cupertino
From Payment Date: 1/20/2024 - To Payment Date: 1/26/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
0092-122823-19 12/28/2023 116367035 -De Anza Blvd and Mariani, Traffic
Signal/Safety Lts
$110.72
0092-122823-20 12/28/2023 116367045 -De Anza Blvd and Hwy 280 S/Ramp,
Traffic Signal
$106.83
0092-122823-21 12/28/2023 116367050 -NW Corner Stevens Crk, Traffic Signals $88.19
0092-122823-22 12/28/2023 116367055 -Saich Wy and Stevens Crk NE Corner,
Traffic Signal
$77.35
0092-122823-23 12/28/2023 116367060 -E37R0 Stevens Creek and De Anza Blvd,
Traffic Signal
$119.01
0092-122823-24 12/28/2023 116367065 -Stevens Creek Blvd E/Saich Wy, Sprinkler
Control
$10.52
0092-122823-25 12/28/2023 116367070 -Stevens Creek and Blaney Ave., Traffic
Signal
$100.77
0092-122823-26 12/28/2023 116367075 -Vallco Pkwy and Perimeter Rd., Traffic
Signals
$72.27
0092-122823-27 12/28/2023 116367090 -Wolfe and Vallco Pkwy, Traffic Signals $95.90
0092-122823-28 12/28/2023 116367100 -E37H3 Wolfe and 280 SB Loc B, Traffic
Signal
$113.15
0092-122823-29 12/28/2023 116367105 -Stevens Crk and Wolfe Rd, Traffic Signals $143.43
0092-122823-30 12/28/2023 116367110 -SW Cor Stevens Crk and Portal, Traffic
Signal
$91.85
0092-122823-31 12/28/2023 116367115 -Stevens Crk and Perimeter Rd, Traffic
Control Signal
$93.45
0092-122823-32 12/28/2023 116367120 -Vallco Prky/Tantau Ave, Traffic Signal $99.37
0092-122823-33 12/28/2023 116367125 -Stevens Crk and Tantau, Traffic Signals $101.63
0092-122823-34 12/28/2023 116367130 -NW Corner Steven Crk and Torre, Traffic
Signal
$94.95
0092-122823-35 12/28/2023 116367782 -N/S Stevens Creek Blvd in front of 20301,
Irrigation
$9.86
0092-122823-36 12/28/2023 116367001 -E37H4 Wolfe and Rte 280 NB Loc A $63.29
0092-122823-37 12/28/2023 116367165 -S/E Wolfe-Pruneridge, Sprinkler Control
and Traffic S
$112.57
0092-122823-38 12/28/2023 116367170 -Tantau Ave and Tandem D/W, Traffic
Signal
$100.25
0092-122823-39 12/28/2023 116367175 -S/E Corner Pruneridge and Tantau,
Traffic Controller
$84.40
0092-122823-40 12/28/2023 116367180 -Finch and Stevens Creek, Traffic Signals $109.37
0092-122823-41 12/28/2023 116367185 -Wolfe Rd 500 Ft S/O Homestead,
City/Sign Lighting
$33.54
0092-122823-42 12/28/2023 116367195 -Corner Miller and Phil Ln, Traffic Signal $77.69
0092-122823-43 12/28/2023 116367200 -Homestead and De Anza Blvd, Traffic
Signal/Dept Pub W
$124.15
0092-122823-44 12/28/2023 116367205 -Homestead Rd and Franco Ct, Traffic
Signals
$78.21
0092-122823-45 12/28/2023 116367215 -N/Ramp De Anza Blvd, Traffic Signal $97.57
0092-122823-46 12/28/2023 116367220 -Homestead Rd and Bluejay Rd, Traffic
Signals
$82.68
0092-122823-47 12/28/2023 118426656 -WS Portal Btw Amhurst-Wheaton , Portal
Prk Ltg, Prk L
$272.46
0092-122823-48 12/28/2023 114321565 116367416 -22601 Voss Ave $716.54
0092-122823-49 12/28/2023 116367925 -22601 Voss Ave, Outdoor Lighting-MV
Park
$16.78
Monday, January 29, 2024Pages: 4 of 23user: Vi Tran 96
CC 02-21-2024
96 of 456
Payment Register
City of Cupertino
From Payment Date: 1/20/2024 - To Payment Date: 1/26/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
0092-122823-50 12/28/2023 116367245 -Stevens Creek Blvd and Janice Ave,
Sprinkler Control
$17.10
0092-122823-51 12/28/2023 116367269 -Cor/Lucille and Randy Ln, Sprinkler
System (011095852
$11.75
0092-122823-52 12/28/2023 116367255 -Lucille and Villa De Anza, Sprinkler
Control
$319.01
0092-122823-53 12/28/2023 116367815 -19784 Wintergreen Dr $646.89
0092-122823-54 12/28/2023 116367280 -Stevens Creek Blvd and Fwy 85 East
Ramp, Traffic Sign
$94.69
0092-122823-55 12/28/2023 116367290 -Stevens Creek and Mary Ave, Traffic
Signals
$93.77
0092-122823-56 12/28/2023 116367408 -Stevens Creek Bl and Mary Avenue,
Memorial Park Pump
$69.08
0092-122823-57 12/28/2023 116367625 -Stevens Creek Blvd Orange S/W Cor,
Irrigation Control
$9.86
0092-122823-58 12/28/2023 116367902 -10246 Parkside Ln, Wilson Pk
Sprinklers,Snack Shack,I
$269.39
0092-122823-59 12/28/2023 116367628 -N/W corner Alpine Dr and Foothill Blvd,
Irrigation Co
$9.86
0092-122823-60 12/28/2023 116367476 -Salem Ave and Foothill Blvd, Irrigation
Control
$9.86
0092-122823-61 12/28/2023 116367527 -Foothill Blvd 200' N/O Stevens Creek
W/S, Irrigation
$9.86
0092-122823-62 12/28/2023 116367740 -Carmen Rd and Stevens Creek S/E
corner, Irrigation Co
$10.80
0092-122823-63 12/28/2023 116367343 112570652 -Foothill Blvd 150' N/O Alpine
E/S, Irrigati
$35.76
0092-122823-64 12/28/2023 116367370 -Stevens Creek Blvd and Fwy 85 West
Ramp, Traffic Sign
$14.78
0092-122823-65 12/28/2023 116367380 -NE Corner Peninsula and Stevens Creek,
Traffic Signal
$96.02
0092-122823-66 12/28/2023 116367385 -End/Stokes W/Wilson Crt, Sprinkler
Control
$11.83
0092-122823-67 12/28/2023 116367395 -N/E corner Foothill and Starling Dr, Traffic
Signals
$83.69
0092-122823-68 12/28/2023 116367067 -Stonydale Dr and Varian Park, walkway
lighting and Ir
$130.93
0092-122823-69 12/28/2023 116367071 -Linda Vista Dr / Hillside Park, Hillside Park $25.08
0092-122823-70 12/28/2023 116367648 -Linda Vista Park/Linda Vista Dr, Irrigation
Control
$203.67
0092-122823-71 12/28/2023 116367455 -E37R9 Rodriguez and De Anza Blvd,
Traffic Signal
$101.71
0092-122823-72 12/28/2023 116367656 -Scofield and De Anza, 100HP $12.46
0092-122823-73 12/28/2023 116367465 -De Anza Blvd and Scofield Dr, Sprinkler
Controller
$11.50
0092-122823-74 12/28/2023 116367475 -Foothill and Stevens Creek, Traffic Signal $86.37
0092-122823-75 12/28/2023 116367447 -Stelling Rd Median 500' S/O Peppertree
Ln, Landscape
$12.60
0092-122823-76 12/28/2023 116367236 -Stelling Rd Median 450' S/O Stevens Crk,
Landscape Ir
$12.21
0092-122823-77 12/28/2023 116367505 -Stevens Crk and Stelling, Signal $56.45
0092-122823-78 12/28/2023 116367510 -Bubb Rd and Results Wy, Traffic Signal $73.71
Monday, January 29, 2024Pages: 5 of 23user: Vi Tran 97
CC 02-21-2024
97 of 456
Payment Register
City of Cupertino
From Payment Date: 1/20/2024 - To Payment Date: 1/26/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
0092-122823-79 12/28/2023 116367515 -Bubb Rd and McClellan Intersection,
Traffic Signal
$123.66
0092-122823-80 12/28/2023 116367520 -Stelling Rd and Peppertree, Traffic Signal $75.41
0092-122823-81 12/28/2023 116367525 -Stelling and McClellan, Signals $106.26
0092-122823-82 12/28/2023 116367530 -Orange Ave and Stevens Creek N/E
corner, Traffic Cont
$61.90
0092-122823-83 12/28/2023 116367493 -Dumas Dr/Jollyman Park, Jollyman Park
Restroom
$320.76
0092-122823-84 12/28/2023 116367545 -Saratoga-Sunnyvale Rd, Traffic Signal $87.31
0092-122823-85 12/28/2023 116367550 -W/S Saratoga-Sunnyvale Rd @ RT85,
Traffic Signal
$77.14
0092-122823-86 12/28/2023 116367560 -S/E corner De Anza and Pacifica, Traffic
Signal
$96.79
0092-122823-87 12/28/2023 116367570 -De Anza Blvd, Sprinkler Controller *$11.50
0092-122823-88 12/28/2023 116367585 -Rainbow and Stelling, Traffic Signal $80.02
0092-122823-89 12/28/2023 116367559 -21011 Prospect Rd, Irrigation Control $9.86
0092-122823-90 12/28/2023 116367685 -Ruppell Pl and Moltzen Dr, Sprinkler
Control
$62.33
0092-122823-91 12/28/2023 115211833 -10300 Anisworth Dr, Ball Park Stevens
Creek SV
$9.86
0092-122823-92 12/28/2023 116367630 -22100 Stevens Creek Blvd, Golf Pro Shop $323.46
0092-122823-93 12/28/2023 110081495 -10710 Stokes Ave, Somerset Park $44.03
0092-122823-94 12/28/2023 116367044 -10555 Mary Ave NEM $913.88
0092-122823-95 12/28/2023 116367568 -10555 Mary Ave, Corp Yard $337.97
0092-122823-96 12/28/2023 116367474 -10500 Ann Arbor Ave, Field-Garden Gate $18.77
0092-122823-97 12/28/2023 114315284 116367325 -21975 San Fernando Ave,
Picnic Area
$2,347.35
0092-122823-98 12/28/2023 116367171 -10155 Barbara Ln, Irrigation and
Scoreboard
$17.76
0092-122823-99 12/28/2023 116367587 -10430 S De Anza Blvd, Holiday Lighting $48.06
0092-122823-100 12/28/2023 116367449 -10350 Torre Ave, Community Hall $3,431.59
0092-122823-101 12/28/2023 111190735 119980351-10300 Torre Ave, City Hall $7,434.09
0092-122823-102 12/28/2023 116367437 -10455 Miller Ave, Creekside Park $720.46
0092-122823-103 12/28/2023 116367988 -21710 McClellan Rd, Playground
Reception Area
$9.86
0092-122823-104 12/28/2023 116367484 -20220 Suisun Dr, Parks and Rec Free
Standing Panel
$9.86
0092-122823-105 12/28/2023 116367763 -10630 S De Anza Blvd, Holiday Lighting $54.96
0092-122823-106 12/28/2023 116367332 -821 Bubb Rd #B/Building Concession $125.60
0092-122823-107 12/28/2023 116367274 -1170 Yorkshire Dr.$9.86
0092-122823-108 12/28/2023 116367013 - 1486 S Stelling Rd $9.86
0092-122823-109 12/28/2023 116367941 -7548 Donegal Dr, Irrigation Control
/Hoover Park
$11.76
0092-122823-110 12/28/2023 116367840 -10185 N Stelling RD $8,750.10
0092-122823-111 12/28/2023 116971849 -21111 Stevens Creek Blvd, Sports Center $8,930.10
0092-122823-112 12/28/2023 116367477 -21121 Stevens Creek Blvd, Memorial Park $1,972.34
0092-122823-113 12/28/2023 (Old116367536) 113736756 ESP113428799 -Senior
Center 21251 Steve
$3,805.20
0092-122823-114 12/28/2023 116367590 -Saratoga Sunnyvale Rd and Hwy 85,
Traffic Signal
$77.93
0092-122823-115 12/28/2023 116367605 -E37C1 Prospect and Rte 85, Traffic Signal $92.81
Monday, January 29, 2024Pages: 6 of 23user: Vi Tran 98
CC 02-21-2024
98 of 456
Payment Register
City of Cupertino
From Payment Date: 1/20/2024 - To Payment Date: 1/26/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
0092-122823-116 12/28/2023 116367610 -E37R6 Kentwood/S. De Anza Blvd, Traffic
Signal
$82.77
0092-122823-117 12/28/2023 116367615 -Fallenleaf Ln and S De Anza Blvd, Traffic
Signal
$91.21
0092-122823-118 12/28/2023 116367620 -S De Anza Blvd and Sharon Dr , Irrigation
Controller
$17.56
0092-113023-6 11/30/2023 116644889 19500 Pruneridge ave pole TP16660 $7.97
0092-113023-7 11/30/2023 118007511 -21834 Corte Madera Ln $4.82
0092-113023-8 11/30/2023 1110161867 - Wolfe Rd @ Apple Campus Driveway $78.02
0092-113023-9 11/30/2023 116367793 -101 Skyport Dr, DG A, San Jose,
PGandE-Owned St/Highw
$774.16
0092-113023-51 11/30/2023 116367269 -Cor/Lucille and Randy Ln, Sprinkler
System (011095852
$12.14
0092-113023-52 11/30/2023 116367255 -Lucille and Villa De Anza, Sprinkler
Control
$337.80
0092-113023-53 11/30/2023 116367815 -19784 Wintergreen Dr $727.64
0092-113023-54 11/30/2023 116367280 -Stevens Creek Blvd and Fwy 85 East
Ramp, Traffic Sign
$98.65
0092-113023-55 11/30/2023 116367290 -Stevens Creek and Mary Ave, Traffic
Signals
$99.33
0092-113023-56 11/30/2023 116367408 -Stevens Creek Bl and Mary Avenue,
Memorial Park Pump
$70.84
0092-113023-57 11/30/2023 116367625 -Stevens Creek Blvd Orange S/W Cor,
Irrigation Control
$10.18
0092-113023-58 11/30/2023 116367902 -10246 Parkside Ln, Wilson Pk
Sprinklers,Snack Shack,I
$314.23
0092-113023-59 11/30/2023 116367628 -N/W corner Alpine Dr and Foothill Blvd,
Irrigation Co
$10.18
0092-113023-60 11/30/2023 116367476 -Salem Ave and Foothill Blvd, Irrigation
Control
$10.18
0092-113023-61 11/30/2023 116367527 -Foothill Blvd 200' N/O Stevens Creek
W/S, Irrigation
$10.20
0092-113023-62 11/30/2023 116367740 -Carmen Rd and Stevens Creek S/E
corner, Irrigation Co
$11.00
0092-113023-63 11/30/2023 116367343 112570652 -Foothill Blvd 150' N/O Alpine
E/S, Irrigati
$10.46
0092-113023-64 11/30/2023 116367370 -Stevens Creek Blvd and Fwy 85 West
Ramp, Traffic Sign
$15.27
0092-113023-65 11/30/2023 116367380 -NE Corner Peninsula and Stevens Creek,
Traffic Signal
$99.38
0092-113023-66 11/30/2023 116367385 -End/Stokes W/Wilson Crt, Sprinkler
Control
$12.27
0092-113023-67 11/30/2023 116367395 -N/E corner Foothill and Starling Dr, Traffic
Signals
$87.09
0092-113023-68 11/30/2023 116367067 -Stonydale Dr and Varian Park, walkway
lighting and Ir
$127.97
0092-113023-69 11/30/2023 116367071 -Linda Vista Dr / Hillside Park, Hillside Park $26.06
0092-113023-70 11/30/2023 116367648 -Linda Vista Park/Linda Vista Dr, Irrigation
Control
$204.53
0092-113023-71 11/30/2023 116367455 -E37R9 Rodriguez and De Anza Blvd,
Traffic Signal
$105.40
0092-113023-72 11/30/2023 116367656 -Scofield and De Anza, 100HP $12.85
Monday, January 29, 2024Pages: 7 of 23user: Vi Tran 99
CC 02-21-2024
99 of 456
Payment Register
City of Cupertino
From Payment Date: 1/20/2024 - To Payment Date: 1/26/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
0092-113023-73 11/30/2023 116367465 -De Anza Blvd and Scofield Dr, Sprinkler
Controller
$11.91
0092-113023-74 11/30/2023 116367475 -Foothill and Stevens Creek, Traffic Signal $89.54
0092-113023-75 11/30/2023 116367447 -Stelling Rd Median 500' S/O Peppertree
Ln, Landscape
$13.02
0092-113023-76 11/30/2023 116367236 -Stelling Rd Median 450' S/O Stevens Crk,
Landscape Ir
$12.64
0092-113023-77 11/30/2023 116367505 -Stevens Crk and Stelling, Signal $55.85
0092-113023-78 11/30/2023 116367510 -Bubb Rd and Results Wy, Traffic Signal $76.35
0092-113023-79 11/30/2023 116367515 -Bubb Rd and McClellan Intersection,
Traffic Signal
$128.76
0092-113023-80 11/30/2023 116367520 -Stelling Rd and Peppertree, Traffic Signal $77.89
0092-113023-81 11/30/2023 116367525 -Stelling and McClellan, Signals $111.43
0092-113023-82 11/30/2023 116367530 -Orange Ave and Stevens Creek N/E
corner, Traffic Cont
$64.68
0092-113023-83 11/30/2023 116367493 -Dumas Dr/Jollyman Park, Jollyman Park
Restroom
$429.70
0092-113023-84 11/30/2023 116367545 -Saratoga-Sunnyvale Rd, Traffic Signal $90.60
0092-113023-85 11/30/2023 116367550 -W/S Saratoga-Sunnyvale Rd @ RT85,
Traffic Signal
$81.01
0092-113023-86 11/30/2023 116367560 -S/E corner De Anza and Pacifica, Traffic
Signal
$100.45
0092-113023-87 11/30/2023 116367570 -De Anza Blvd, Sprinkler Controller *$11.91
0092-113023-88 11/30/2023 116367585 -Rainbow and Stelling, Traffic Signal $83.50
0092-113023-89 11/30/2023 116367559 -21011 Prospect Rd, Irrigation Control $10.18
0092-113023-90 11/30/2023 116367685 -Ruppell Pl and Moltzen Dr, Sprinkler
Control
$66.68
0092-113023-91 11/30/2023 115211833 -10300 Anisworth Dr, Ball Park Stevens
Creek SV
$10.26
0092-113023-92 11/30/2023 116367630 -22100 Stevens Creek Blvd, Golf Pro Shop $293.78
0092-113023-93 11/30/2023 110081495 -10710 Stokes Ave, Somerset Park $38.77
0092-113023-94 11/30/2023 116367044 -10555 Mary Ave NEM $717.44
0092-113023-95 11/30/2023 116367568 -10555 Mary Ave, Corp Yard $279.76
0092-113023-96 11/30/2023 116367474 -10500 Ann Arbor Ave, Field-Garden Gate $172.49
0092-113023-97 11/30/2023 114315284 116367325 -21975 San Fernando Ave,
Picnic Area
$2,802.09
0092-113023-98 11/30/2023 116367171 -10155 Barbara Ln, Irrigation and
Scoreboard
$109.69
0092-113023-99 11/30/2023 116367587 -10430 S De Anza Blvd, Holiday Lighting $49.98
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$48,200.03
560 - Blackberry Farm 560 100-100 (Cash & Investments Assets Operating
Cash)
$617.24
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$8,930.10
733971 01/26/2024 Open Accounts Payable PG&E $43,847.01
Invoice Date Description Amount
0092-113023-0 11/30/2023 116367401 -Miller W/S N of Greenwood $20.03
0092-113023-1 11/30/2023 116367359 -Homestead and Heron, traffic control svc $71.52
0092-113023-2 11/30/2023 116367150 -Homestead and Wolfe Road, Sunnyvale $114.49
Monday, January 29, 2024Pages: 8 of 23user: Vi Tran 100
CC 02-21-2024
100 of 456
Payment Register
City of Cupertino
From Payment Date: 1/20/2024 - To Payment Date: 1/26/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
0092-113023-3 11/30/2023 116367155 -Homestead and Blaney, Cupertino Traffic
Signal, Sunny
$71.78
0092-113023-4 11/30/2023 116367275 -Homestead and Tantau, Cupertino Traffic
Signal, Sunny
$110.00
0092-113023-5 11/30/2023 116367013 -112017763 -11370 S Stelling Rd,
Irrigation Control
$7.97
0092-113023-10 11/30/2023 110958527 115145264 -Randy Lane & Larry Way-
Streetlights
$62.15
0092-113023-11 11/30/2023 111736580 SF Cupertino 075 $4.76
0092-113023-12 11/30/2023 116367357 -N De Anza 188 FT N/Valley Green Dr,
Irrig Controller
$18.17
0092-113023-13 11/30/2023 116367907 -S/W Corner Stelling and Green leaf,
Traffic Signal
$94.07
0092-113023-14 11/30/2023 116367113 -Miller E/S 100N off Calle De Barcelona $87.01
0092-113023-15 11/30/2023 116367836 -De Anza Blvd E/S S/O Lazaneo, Sprinkler
Control
$10.20
0092-113023-16 11/30/2023 116367677 -De Anza and Lazaneo, Sprinkler System $10.26
0092-113023-17 11/30/2023 116367025 -De Anza and Lazaneo, Traffic Signal $98.09
0092-113023-18 11/30/2023 110659172 -N De Anza 455FT S/O Mariani Dr, Irrig
Control
$14.22
0092-113023-19 11/30/2023 116367035 -De Anza Blvd and Mariani, Traffic
Signal/Safety Lts
$114.78
0092-113023-20 11/30/2023 116367045 -De Anza Blvd and Hwy 280 S/Ramp,
Traffic Signal
$111.99
0092-113023-21 11/30/2023 116367050 -NW Corner Stevens Crk, Traffic Signals $93.34
0092-113023-22 11/30/2023 116367055 -Saich Wy and Stevens Crk NE Corner,
Traffic Signal
$80.47
0092-113023-23 11/30/2023 116367060 -E37R0 Stevens Creek and De Anza Blvd,
Traffic Signal
$123.33
0092-113023-24 11/30/2023 116367065 -Stevens Creek Blvd E/Saich Wy, Sprinkler
Control
$10.86
0092-113023-25 11/30/2023 116367070 -Stevens Creek and Blaney Ave., Traffic
Signal
$104.96
0092-113023-26 11/30/2023 116367075 -Vallco Pkwy and Perimeter Rd., Traffic
Signals
$74.65
0092-113023-27 11/30/2023 116367090 -Wolfe and Vallco Pkwy, Traffic Signals $108.22
0092-113023-28 11/30/2023 116367100 -E37H3 Wolfe and 280 SB Loc B, Traffic
Signal
$114.87
0092-113023-29 11/30/2023 116367105 -Stevens Crk and Wolfe Rd, Traffic Signals $143.53
0092-113023-30 11/30/2023 116367110 -SW Cor Stevens Crk and Portal, Traffic
Signal
$96.00
0092-113023-31 11/30/2023 116367115 -Stevens Crk and Perimeter Rd, Traffic
Control Signal
$97.11
0092-113023-32 11/30/2023 116367120 -Vallco Prky/Tantau Ave, Traffic Signal $104.25
0092-113023-33 11/30/2023 116367125 -Stevens Crk and Tantau, Traffic Signals $105.64
0092-113023-34 11/30/2023 116367130 -NW Corner Steven Crk and Torre, Traffic
Signal
$99.02
0092-113023-35 11/30/2023 116367782 -N/S Stevens Creek Blvd in front of 20301,
Irrigation
$10.28
0092-113023-36 11/30/2023 116367001 -E37H4 Wolfe and Rte 280 NB Loc A $66.37
0092-113023-37 11/30/2023 116367165 -S/E Wolfe-Pruneridge, Sprinkler Control
and Traffic S
$118.73
Monday, January 29, 2024Pages: 9 of 23user: Vi Tran 101
CC 02-21-2024
101 of 456
Payment Register
City of Cupertino
From Payment Date: 1/20/2024 - To Payment Date: 1/26/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
0092-113023-38 11/30/2023 116367170 -Tantau Ave and Tandem D/W, Traffic
Signal
$105.04
0092-113023-39 11/30/2023 116367175 -S/E Corner Pruneridge and Tantau,
Traffic Controller
$87.98
0092-113023-40 11/30/2023 116367180 -Finch and Stevens Creek, Traffic Signals $115.90
0092-113023-41 11/30/2023 116367185 -Wolfe Rd 500 Ft S/O Homestead,
City/Sign Lighting
$35.29
0092-113023-42 11/30/2023 116367195 -Corner Miller and Phil Ln, Traffic Signal $80.65
0092-113023-43 11/30/2023 116367200 -Homestead and De Anza Blvd, Traffic
Signal/Dept Pub W
$132.45
0092-113023-44 11/30/2023 116367205 -Homestead Rd and Franco Ct, Traffic
Signals
$81.96
0092-113023-45 11/30/2023 116367215 -N/Ramp De Anza Blvd, Traffic Signal $102.43
0092-113023-46 11/30/2023 116367220 -Homestead Rd and Bluejay Rd, Traffic
Signals
$85.52
0092-113023-47 11/30/2023 118426656 -WS Portal Btw Amhurst-Wheaton , Portal
Prk Ltg, Prk L
$271.31
0092-113023-48 11/30/2023 114321565 116367416 -22601 Voss Ave $731.84
0092-113023-49 11/30/2023 116367925 -22601 Voss Ave, Outdoor Lighting-MV
Park
$18.52
A0092-113023-50 11/30/2023 116367245 -Stevens Creek Blvd and Janice Ave,
Sprinkler Control
$17.86
0092-113023-100 11/30/2023 116367449 -10350 Torre Ave, Community Hall $3,346.26
0092-113023-101 11/30/2023 111190735 119980351-10300 Torre Ave, City Hall $8,423.31
0092-113023-102 11/30/2023 116367437 -10455 Miller Ave, Creekside Park $554.54
0092-113023-103 11/30/2023 116367988 -21710 McClellan Rd, Playground
Reception Area
$10.18
0092-113023-104 11/30/2023 116367484 -20220 Suisun Dr, Parks and Rec Free
Standing Panel
$10.18
0092-113023-105 11/30/2023 116367763 -10630 S De Anza Blvd, Holiday Lighting $55.18
0092-113023-106 11/30/2023 116367332 -821 Bubb Rd #B/Building Concession $82.32
0092-113023-107 11/30/2023 116367274 -1170 Yorkshire Dr.$10.23
0092-113023-108 11/30/2023 116367013 - 1486 S Stelling Rd $10.18
0092-113023-109 11/30/2023 116367941 -7548 Donegal Dr, Irrigation Control
/Hoover Park
$12.21
0092-113023-110 11/30/2023 116367840 -10185 N Stelling RD $10,673.63
0092-113023-111 11/30/2023 116971849 -21111 Stevens Creek Blvd, Sports Center $9,470.81
0092-113023-112 11/30/2023 116367477 -21121 Stevens Creek Blvd, Memorial Park $2,467.39
0092-113023-113 11/30/2023 (Old116367536) 113736756 ESP113428799 -Senior
Center 21251 Steve
$3,901.90
0092-113023-114 11/30/2023 116367590 -Saratoga Sunnyvale Rd and Hwy 85,
Traffic Signal
$81.94
0092-113023-115 11/30/2023 116367605 -E37C1 Prospect and Rte 85, Traffic Signal $96.69
0092-113023-116 11/30/2023 116367610 -E37R6 Kentwood/S. De Anza Blvd, Traffic
Signal
$86.09
0092-113023-117 11/30/2023 116367615 -Fallenleaf Ln and S De Anza Blvd, Traffic
Signal
$95.68
0092-113023-118 11/30/2023 116367620 -S De Anza Blvd and Sharon Dr , Irrigation
Controller
$18.42
Paying Fund Cash Account Amount
Monday, January 29, 2024Pages: 10 of 23user: Vi Tran 102
CC 02-21-2024
102 of 456
Payment Register
City of Cupertino
From Payment Date: 1/20/2024 - To Payment Date: 1/26/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$34,376.20
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$9,470.81
733972 01/26/2024 Open Accounts Payable SAN JOSE WATER COMPANY $43,469.79
Invoice Date Description Amount
SJW122723-0 12/27/2023 0573900000-7 - 22120 Stevens Creek Blvd $109.17
SJW122723-1 12/27/2023 3688120000-4 - Mary Ave Footbridge $284.66
SJW122723-2 12/27/2023 3872100000-8 - Park Canyon Oak Wy $429.83
SJW122723-3 12/27/2023 5022148584-5 - 10301 Byrne Ave $211.17
SJW122723-4 12/27/2023 6287875324-3 - 22241 McClellan Rd (Simms)$325.61
SJW122723-5 12/27/2023 6875120000-4 - 21979 San Fernando Av $229.30
SJW122723-6 12/27/2023 7112900000-7 - Oak Valley Rd $78.34
SJW122723-7 12/27/2023 7523510000-7 - Oak Valley Road LS $194.55
SJW122723-8 12/27/2023 9118810000-1 - 21121 Stevens Ck Bl Ls $1,089.35
SJW122723-9 12/27/2023 4299057897-5 - Alhambra Ave $1,025.21
SJW122823-0 12/28/2023 0134100000-6 - 8303 Memorial Park $644.35
SJW122823-1 12/28/2023 0345710000-0 - Alderbrook Ln.FS $151.14
SJW122823-2 12/28/2023 0677310000-0 - 10300 Torre Ave LS (Comm.Hall)$327.38
SJW122823-3 12/28/2023 1198300000-8 - 21979 San Fernando Ave. 6620 (Trail
Restroom)
$317.54
SJW122823-4 12/28/2023 1250520000-1 - 6620 Blackberry/Snack $658.88
SJW122823-5 12/28/2023 1332100000-5 - Hyde Avenue $320.08
SJW122823-6 12/28/2023 1444810000-9 - Hyannisport Dr. LS $796.43
SJW122823-7 12/28/2023 1735700000-3 - 8303 Memorial Park Restroom $375.63
SJW122823-8 12/28/2023 1787904559-3 - 22221 McClellan 8302 $228.13
SJW122823-9 12/28/2023 1832500000-0 - Ruppell PL LS $320.08
SJW122823-10 12/28/2023 1836700000-9 - 8322 Mary Mini Park $317.54
SJW122823-11 12/28/2023 1987700000-0 - Alderbrook Ln LS $1,575.41
SJW122823-12 12/28/2023 2228610000-7 - 21111 Stevens Crk LS $332.05
SJW122823-13 12/28/2023 2243500000-9 - 10300 Ainsworth Dr.LS $368.36
SJW122823-14 12/28/2023 2286120000-8 - 21251 Stevens Creek Blvd $95.42
SJW122823-15 12/28/2023 2288800000-1 - Stokes Ave/8306 Somerset Park $353.84
SJW122823-16 12/28/2023 2649300000-9 - 10300 Torre Ave. FS (Comm.Hall)$151.14
SJW122823-17 12/28/2023 2787197813-9 - 8322 Stevens Creek Bl $107.58
SJW122823-18 12/28/2023 2892070144-9 - 22221 McClellan 8320 $190.84
SJW122823-19 12/28/2023 2958510000-0 - 10555 Mary Ave.$100.33
SJW122823-20 12/28/2023 2974010000-2 - 21251 Stevens Creek Blvd $782.35
SJW122823-21 12/28/2023 2984810000-3 - 8504 Alves and Stelling $433.74
SJW122823-22 12/28/2023 3207400000-4 - 21710 McClellan 8312 $317.54
SJW122823-23 12/28/2023 3322910000-4 - 8306 Somerset Park(Stokes Ave)$317.54
SJW122823-24 12/28/2023 3530520000-4 - 21111 Stev.Crk Blvd 8510 $513.63
SJW122823-25 12/28/2023 3612707315-7 - Stocklmeir Ct $317.54
SJW122823-26 12/28/2023 3673220000-5 - Stev.Crk/Cupertino Rd.$100.33
SJW122823-27 12/28/2023 3746710000-6 - 21111 Stev.Crk BL FS $149.95
SJW122823-28 12/28/2023 3841010000-2 - 8507 Monta Vista Park $361.10
SJW122823-29 12/28/2023 3856110000-9 - 8322 Stella Estates $100.33
SJW122823-30 12/28/2023 3857710000-1 - 8322 Foothill/Cupertino Rd $199.09
SJW122823-31 12/28/2023 3900520000-9 - 10300 Torre Ave $693.93
SJW122823-32 12/28/2023 3953083125-2 - Tuscany Pl $647.19
Monday, January 29, 2024Pages: 11 of 23user: Vi Tran 103
CC 02-21-2024
103 of 456
Payment Register
City of Cupertino
From Payment Date: 1/20/2024 - To Payment Date: 1/26/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
SJW122823-33 12/28/2023 4012210000-7 - 22601 Voss Av 8304 $594.02
SJW122823-34 12/28/2023 4103020000-4 - 6620 Blackberry/Snack $557.20
SJW122823-35 12/28/2023 4227520000-6 - 8303 Memorial Park $317.54
SJW122823-36 12/28/2023 4444250747-9 - Tuscany Pl $647.19
SJW122823-37 12/28/2023 5122900000-8 - Portable Meter - Trees & ROW $559.08
SJW122823-38 12/28/2023 5237400000-9 - Dumas Dr, LS $1,550.47
SJW122823-39 12/28/2023 5356310000-6 - 8322 Stev.Crk/Median $317.54
SJW122823-40 12/28/2023 5778910000-5 - 8504 Quinlan Ln.FS $95.42
SJW122823-41 12/28/2023 5835000000-4 - 8322 Stelling/Alves $199.09
SJW122823-42 12/28/2023 5929210000-1 - 8322 Ann Arbor Ct $199.09
SJW122823-43 12/28/2023 5948100000-4 - Emerg Irrig/Golf/ 6640 BBF (Irrigation)$2,768.26
SJW122823-44 12/28/2023 5986710000-6 - 10300 Torre Ave. FS (Comm.Hall)$986.76
SJW122823-45 12/28/2023 5997110000-9 - 7555 Barnhart Pl $761.21
SJW122823-46 12/28/2023 6292600000-1 - 10800 Torre Ave LS $1,023.37
SJW122823-47 12/28/2023 6296810000-8 - 8322 Stev.Crk Bl median $100.33
SJW122823-48 12/28/2023 6405210000-1 - 8506 McClellan Ranch $231.04
SJW122823-49 12/28/2023 6578520000-0 - 83 Foothill Bl/Alpine Dr22 LS $199.09
SJW122823-50 12/28/2023 6730700000-9 - 21975 San Fernando Av $100.33
SJW122823-51 12/28/2023 6788620000-4 - 10555 Mary Ave. 8503 $455.51
SJW122823-52 12/28/2023 6907100000-9 - Alderbrook Ln $279.77
SJW122823-53 12/28/2023 6935200000-9 - 8303 Memorial Park $448.25
SJW122823-54 12/28/2023 6973320000-5 - 8301 Linda Vista PK1 $353.84
SJW122823-55 12/28/2023 7036000000-7 - 85 Stev.Crk/Mary LS $199.09
SJW122823-56 12/28/2023 7054200000-8 - 8322 Phar Lap LS $60.83
SJW122823-57 12/28/2023 7495200000-3 - 10300 Torre Ave FS $151.14
SJW122823-58 12/28/2023 7630410000-1 - Salem Av.LS $199.09
SJW122823-59 12/28/2023 7930000000-1 - 8322 Stelling/Christensen Dr.$199.09
SJW122823-60 12/28/2023 8006810000-9 - 10450 Mann Dr $60.83
SJW122823-61 12/28/2023 8065700000-8 - Peninsula and Fitzgerald Is $60.83
SJW122823-62 12/28/2023 8270010000-9 - Janice Ave.LS $317.54
SJW122823-63 12/28/2023 8287220000-9 - 8322 Stevens Cr/San Antonio Ls $100.33
SJW122823-64 12/28/2023 8427420000-9 - 8322 Foothill/Vista Knoll $199.09
SJW122823-65 12/28/2023 8549600000-2 - Bubb Rd.LS $979.44
SJW122823-66 12/28/2023 8647520000-1 - 10555 Mary Ave/Corp Yard FS $245.37
SJW122823-67 12/28/2023 8879620000-9 - 8504 Christensen Dr $375.63
SJW122823-68 12/28/2023 8886800000-6 - 8301 Linda Vista PK2 $324.79
SJW122823-69 12/28/2023 9377600000-7 - 8307 Varian Park $716.98
SJW122823-70 12/28/2023 9824500000-9 - 8322 Irrig SC/Stelling $366.11
SJW122823-71 12/28/2023 9988206980-2 (old 6784967491-5) - 8303 Memorial
Park
$594.02
SJW122923-0 12/29/2023 0068410000-1 - 22221 McClellan 8302 $2,146.70
SJW122923-1 12/29/2023 8755010000-9 - 10455 Miller Ave/Creekside $598.77
SJW010424-0 01/04/2024 0067500000-4 - Oro Grande PL LS $193.36
SJW010424-1 01/04/2024 0879200000-5 - Stelling Rd. LS $626.57
SJW010424-2 01/04/2024 1731610000-1 - De Anza Blvd.S.$655.85
SJW010424-3 01/04/2024 4242600000-8 - Irrigation-Median (Bollinger Rd)$193.36
SJW010424-4 01/04/2024 4862898282-8 - 10455 Torre Ave $248.94
SJW010424-5 01/04/2024 5280181221-6 - S De Anza Bl (median irrigation)$205.01
SJW010424-6 01/04/2024 5461910000-8 - De Anza Blvd.S.$619.25
SJW010424-7 01/04/2024 5949902723-9 - Creekline Dr $383.67
Monday, January 29, 2024Pages: 12 of 23user: Vi Tran 104
CC 02-21-2024
104 of 456
Payment Register
City of Cupertino
From Payment Date: 1/20/2024 - To Payment Date: 1/26/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
SJW010424-8 01/04/2024 9705420000-7 - 10300 Torre Avenue Ls $602.52
SJW010524-0 01/05/2024 3156700000-0 - Prospect Rd.LS $199.56
SJW010524-1 01/05/2024 4676110000-0 - Rainbow Dr.LS $202.67
SJW010524-2 01/05/2024 6756510000-4 - Yorkshire Dr.LS $1,740.36
SJW010524-3 01/05/2024 7808300000-6 - Irrigation-Median (Westlynn Wy)$199.56
SJW010524-4 01/05/2024 9511610000-9 - Donegal Dr.$115.44
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$38,616.55
560 - Blackberry Farm 560 100-100 (Cash & Investments Assets Operating
Cash)
$2,768.26
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$2,084.98
733973 01/26/2024 Open Accounts Payable Suleiman Fakhouri & Sons $1,080.00
Invoice Date Description Amount
01312024 01/24/2024 Senior Trip: 1/31/24 - MJ The Musical Trip $1,080.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,080.00
733974 01/26/2024 Open Accounts Payable Towne Ford $113,082.44
Invoice Date Description Amount
102635 01/16/2024 Fleet- 2023 Ford F-150 Veh#446 $56,541.22
102634 01/15/2024 Fleet- 2023 Ford F-150 Veh#502 $56,541.22
Paying Fund Cash Account Amount
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$113,082.44
733975 01/26/2024 Open Accounts Payable Utility Cost Management LLC $342.77
Invoice Date Description Amount
25736 01/12/2024 Utility savings analysis done by UCM $342.77
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$342.77
733976 01/26/2024 Open Accounts Payable ADA KWAN $5,000.00
Invoice Date Description Amount
64549 12/21/2023 REFUND 10826 BROOKWELL DR BLD-2021-0315
TCO BOND
$5,000.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$5,000.00
733977 01/26/2024 Open Accounts Payable An, Jaden $5.00
Invoice Date Description Amount
2004969.012 01/10/2024 Sports Center Class Refund $5.00
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$5.00
733978 01/26/2024 Open Accounts Payable Cheng-Yun Chen $11.12
Invoice Date Description Amount
356 07 070 01/17/2024 Water Cost Share - 22149 RAE LN $11.12
Monday, January 29, 2024Pages: 13 of 23user: Vi Tran 105
CC 02-21-2024
105 of 456
Payment Register
City of Cupertino
From Payment Date: 1/20/2024 - To Payment Date: 1/26/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
Paying Fund Cash Account Amount
230 - Env Mgmt Cln Crk Strm Drain 230 100-100 (Cash & Investments Assets Operating
Cash)
$11.12
733979 01/26/2024 Open Accounts Payable CHRIS MEYER/ZAKIYYA WILLIAMS $906.04
Invoice Date Description Amount
319287 01/04/2024 REFUND 10335 N TANTAU AVE BLD-2022-2441
WITHDRAWN
$906.04
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$906.04
733980 01/26/2024 Open Accounts Payable FRANCIS LORENZ RUIZ $376.75
Invoice Date Description Amount
327725 01/22/2024 REFUND 10381 ALPINE DR BLD-2023-1449
WITHDRAWN
$376.75
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$376.75
733981 01/26/2024 Open Accounts Payable IRINA VLASOV $614.63
Invoice Date Description Amount
330865 01/03/2024 REFUND 1632 JAMES ROWN DR BLD-2023-1798
WITHDRAWN
$614.63
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$614.63
733982 01/26/2024 Open Accounts Payable Jacqueline Johnson $8.88
Invoice Date Description Amount
369 26 039 01/17/2024 Water Cost Share - 10481 E ESTATES DR $8.88
Paying Fund Cash Account Amount
230 - Env Mgmt Cln Crk Strm Drain 230 100-100 (Cash & Investments Assets Operating
Cash)
$8.88
733983 01/26/2024 Open Accounts Payable Julie Shields $8.88
Invoice Date Description Amount
359 04 017 01/17/2024 Water Cost Share - 850 ROSE BLOSSOM DR $8.88
Paying Fund Cash Account Amount
230 - Env Mgmt Cln Crk Strm Drain 230 100-100 (Cash & Investments Assets Operating
Cash)
$8.88
733984 01/26/2024 Open Accounts Payable LUM-YEE, JENNIFER $175.00
Invoice Date Description Amount
2008605.030 01/23/2024 QCC-20240123 Customer request due to schedule
conflict
$175.00
Paying Fund Cash Account Amount
580 - Recreation Program 580 100-100 (Cash & Investments Assets Operating
Cash)
$175.00
733985 01/26/2024 Open Accounts Payable Northern California HAKKA
Association
$500.00
Invoice Date Description Amount
2002125.032 12/22/2023 Refund Dept. Community Hall, March 24, 2024 Permit
#R165719
$500.00
Monday, January 29, 2024Pages: 14 of 23user: Vi Tran 106
CC 02-21-2024
106 of 456
Payment Register
City of Cupertino
From Payment Date: 1/20/2024 - To Payment Date: 1/26/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$500.00
733986 01/26/2024 Open Accounts Payable TSAI, DAVID $18,360.00
Invoice Date Description Amount
307727 01/22/2024 21865 San Fernando, FP 90%, 307727 $18,360.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$18,360.00
733987 01/26/2024 Open Accounts Payable TUYEN LAM $227.50
Invoice Date Description Amount
335624 01/09/2024 REFUND 10525 S DE ANZA BLVD 160 BLD-2024-
0047 WITHDRAWN
$227.50
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$227.50
733988 01/26/2024 Open Accounts Payable YANNMING WAY $8.88
Invoice Date Description Amount
366 10 112 01/17/2024 Water Cost Share - 1526 POPPY WAY $8.88
Paying Fund Cash Account Amount
230 - Env Mgmt Cln Crk Strm Drain 230 100-100 (Cash & Investments Assets Operating
Cash)
$8.88
733989 01/26/2024 Open Accounts Payable ICE CENTER ENTERPRISES, LLC $414.00
Invoice Date Description Amount
032420 03/24/2020 Winter Payment 2 $414.00
Paying Fund Cash Account Amount
580 - Recreation Program 580 100-100 (Cash & Investments Assets Operating
Cash)
$414.00
733990 01/26/2024 Open Accounts Payable The Mercury News $268.08
Invoice Date Description Amount
11162023 11/16/2023 Senior Center Mercury Newspaper Subscription $268.08
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$268.08
Type Check Totals:38 Transactions $306,665.26
EFT
38864 01/22/2024 Open Accounts Payable EMPLOYMENT DEVEL DEPT $45,744.44
Invoice Date Description Amount
01122024 01/12/2024 CA State Tax pp 12/30/23-1/12/24 $45,744.44
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$45,744.44
38865 01/22/2024 Open Accounts Payable IRS $145,273.02
Invoice Date Description Amount
01122024 01/12/2024 Federal Tax pp 12/30/23-1/12/24 $145,273.02
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$145,273.02
Monday, January 29, 2024Pages: 15 of 23user: Vi Tran 107
CC 02-21-2024
107 of 456
Payment Register
City of Cupertino
From Payment Date: 1/20/2024 - To Payment Date: 1/26/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
38866 01/25/2024 Open Accounts Payable P E R S $400.77
Invoice Date Description Amount
01012024 01/12/2024 PERS Council pp 1/1/24-1/31/24 $400.77
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$400.77
38867 01/25/2024 Open Accounts Payable P E R S $170,925.87
Invoice Date Description Amount
01122024 01/12/2024 PERS pp 12/30/23-1/12/24 $170,925.87
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$170,925.87
38868 01/26/2024 Open Accounts Payable 3M COMPANY $7,009.63
Invoice Date Description Amount
9426677095 01/12/2024 Street- Reflective Sheeting & ElectroCut Film $6,283.79
9426644773 01/10/2024 Street- ElectroCut Transparent, ElectroCut Film Clear $725.84
Paying Fund Cash Account Amount
270 - Transportation Fund 270 100-100 (Cash & Investments Assets Operating
Cash)
$7,009.63
38869 01/26/2024 Open Accounts Payable 4LEAF, Inc.$2,100.00
Invoice Date Description Amount
J3872-06A 01/18/2024 McClellan Road Separated Bike Corridor through
120123-123123
$2,100.00
Paying Fund Cash Account Amount
270 - Transportation Fund 270 100-100 (Cash & Investments Assets Operating
Cash)
$2,100.00
38870 01/26/2024 Open Accounts Payable ABOLI JAYDEEP RANADE $195.00
Invoice Date Description Amount
012324 AJR 01/23/2024 January fitness classes $195.00
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$195.00
38871 01/26/2024 Open Accounts Payable Altec Industries, Inc.$5,430.95
Invoice Date Description Amount
51359502 01/18/2024 Fleet- Hydraulic Cylinder, Labor & Freight Charges $5,430.95
Paying Fund Cash Account Amount
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$5,430.95
38872 01/26/2024 Open Accounts Payable Amazon Capital Services $103.29
Invoice Date Description Amount
14H7-G6MF-WTW6 01/01/2024 Office Supply - Finance $18.18
17MY-77RR-WFQD 01/01/2024 Small Tools-Flashlight,Phone suction cup,Screen
Protector,Tape
$85.11
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$103.29
Monday, January 29, 2024Pages: 16 of 23user: Vi Tran 108
CC 02-21-2024
108 of 456
Payment Register
City of Cupertino
From Payment Date: 1/20/2024 - To Payment Date: 1/26/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
38873 01/26/2024 Open Accounts Payable Amazon Web Services, Inc.$1,462.13
Invoice Date Description Amount
1549832257 01/02/2024 Applications AWS December 1 - December 31 , 2023 $1,462.13
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,462.13
38874 01/26/2024 Open Accounts Payable American Legal Publishing $104.74
Invoice Date Description Amount
31464 01/25/2024 2024 S-93 Folio/Internet Supplement Pages $104.74
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$104.74
38875 01/26/2024 Open Accounts Payable Amit Goel $429.00
Invoice Date Description Amount
012324 AG 01/23/2024 January fitness classes $429.00
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$429.00
38876 01/26/2024 Open Accounts Payable Avocette Technologies Inc.$3,510.00
Invoice Date Description Amount
2311CU2-C 11/30/2023 Code Enforcement Configuration services - November
2023
$275.00
2311CU2-D 11/30/2023 Code Enforcement Configuration services -
November2023
$50.00
2312CU1 12/31/2023 FY24 Accela Support - ServicePlus++ As & When
Support Dec. 2023
$3,185.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$3,510.00
38877 01/26/2024 Open Accounts Payable Clay Planet $97.12
Invoice Date Description Amount
227820 12/15/2023 Clay Planet; Wilson Park Ceramics, Stool $97.12
Paying Fund Cash Account Amount
580 - Recreation Program 580 100-100 (Cash & Investments Assets Operating
Cash)
$97.12
38878 01/26/2024 Open Accounts Payable COLLEEN FERRIS $55.00
Invoice Date Description Amount
ColleenF121623 12/16/2023 cell phone service 12/17-1/6 $55.00
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$55.00
38879 01/26/2024 Open Accounts Payable Cotton, Shires & Associates, Inc.$12,736.81
Invoice Date Description Amount
1223197 12/12/2023 FY23-24 C6053 Professional Services, 22650 San
Juan Rd.
$3,723.75
1223196 12/12/2023 FY23-24 C6073 Professional Services, 21900
Woodbury Dr.
$3,039.95
1223195 12/12/2023 FY23-24 C6063 Professional Services, 11841 Upland
Wy.
$2,998.11
Monday, January 29, 2024Pages: 17 of 23user: Vi Tran 109
CC 02-21-2024
109 of 456
Payment Register
City of Cupertino
From Payment Date: 1/20/2024 - To Payment Date: 1/26/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
1223194 12/12/2023 FY23-24 C6033 Professional Services, 10655 Cordova
Rd.
$2,975.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$12,736.81
38880 01/26/2024 Open Accounts Payable CSG Consultants, Inc.$22,770.00
Invoice Date Description Amount
54591 01/08/2024 Emergency Drainage Repair through 112523-122923 $22,770.00
Paying Fund Cash Account Amount
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$22,770.00
38881 01/26/2024 Open Accounts Payable David L. Gates Associates, Inc.$39,240.58
Invoice Date Description Amount
57389 12/31/2023 Memorial Park Specific Plan through 12312023 $39,240.58
Paying Fund Cash Account Amount
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$39,240.58
38882 01/26/2024 Open Accounts Payable EDGES ELECTRICAL GROUP $48.69
Invoice Date Description Amount
S6057614.001 01/17/2024 Facilities- Push-in Wire Connector $48.69
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$48.69
38883 01/26/2024 Open Accounts Payable Ewing Irrigation Products Inc.$345.69
Invoice Date Description Amount
21426133 01/24/2024 Grounds- Wattle Straw $345.69
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$345.69
38884 01/26/2024 Open Accounts Payable Goldfarb & Lipman LLP $3,472.50
Invoice Date Description Amount
470095 01/18/2024 Legal Services, December 2023 $790.00
470030 01/16/2024 Housing Legal Review 2023/12 $306.00
470181 01/18/2024 Housing Legal Review 2023/12 (2)$94.50
470094 01/18/2024 Housing Legal Review 2023/12 (3)$2,282.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$790.00
265 - BMR Housing 265 100-100 (Cash & Investments Assets Operating
Cash)
$2,682.50
38885 01/26/2024 Open Accounts Payable GRACE DUVAL $352.00
Invoice Date Description Amount
012324 GD 01/23/2024 January PT $352.00
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$352.00
Monday, January 29, 2024Pages: 18 of 23user: Vi Tran 110
CC 02-21-2024
110 of 456
Payment Register
City of Cupertino
From Payment Date: 1/20/2024 - To Payment Date: 1/26/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
38886 01/26/2024 Open Accounts Payable GRAINGER INC $336.58
Invoice Date Description Amount
9955350575 01/08/2024 Trees- Caution Sign $114.51
9971404240 01/22/2024 Fleet- First Aid Kit $222.07
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$114.51
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$222.07
38887 01/26/2024 Open Accounts Payable Griffin Painting Inc $27,820.00
Invoice Date Description Amount
2751 01/12/2024 Facilities- Exterior Refinishing and Painting $27,820.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$27,820.00
38888 01/26/2024 Open Accounts Payable Grimco, Inc. $138.26
Invoice Date Description Amount
31835728-01 01/11/2024 Street- Gerber Edge Black Foil $138.26
Paying Fund Cash Account Amount
270 - Transportation Fund 270 100-100 (Cash & Investments Assets Operating
Cash)
$138.26
38889 01/26/2024 Open Accounts Payable Independent Code Consultants, Inc.$12,622.94
Invoice Date Description Amount
1886 01/02/2024 Building Plan Review Services - 2023/12 $9,350.44
1888 01/02/2024 Building Permit Tech Services - 2023/012 $3,022.50
1887 01/02/2024 Building Plan Review Services - 2023/012 Westport $250.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$12,622.94
38890 01/26/2024 Open Accounts Payable Jahara Pagadipaala $320.00
Invoice Date Description Amount
012324 JP 01/23/2024 January fitness classes $320.00
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$320.00
38891 01/26/2024 Open Accounts Payable JAMES COLVIN $1,664.00
Invoice Date Description Amount
012324 JC 01/23/2024 January PT $1,664.00
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$1,664.00
38892 01/26/2024 Open Accounts Payable JENNIFER HILL $328.00
Invoice Date Description Amount
012324 JH 01/23/2024 January fitness classes $328.00
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$328.00
Monday, January 29, 2024Pages: 19 of 23user: Vi Tran 111
CC 02-21-2024
111 of 456
Payment Register
City of Cupertino
From Payment Date: 1/20/2024 - To Payment Date: 1/26/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
38893 01/26/2024 Open Accounts Payable Joe A. Gonsalves & Son $4,500.00
Invoice Date Description Amount
161248 12/15/2023 January 2024 Services $4,500.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$4,500.00
38894 01/26/2024 Open Accounts Payable KIMBALL-MIDWEST $375.53
Invoice Date Description Amount
101822376 01/17/2024 Fleet- White, Orange & Green Ultra Mark 2 Paint
Markers
$88.10
101822285 01/17/2024 Fleet- "P" Series Lead-Free Weights $89.48
101806035 01/11/2024 Street- USA Rubber Gloves $197.95
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$197.95
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$177.58
38895 01/26/2024 Open Accounts Payable KIMBERLY LUNT $35.50
Invoice Date Description Amount
KimL01122024 01/12/2024 Cell Phone Reimbursement through 12132023-
01122024
$35.50
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$35.50
38896 01/26/2024 Open Accounts Payable Maze & Associates $2,920.00
Invoice Date Description Amount
52811 11/30/2023 Annual Fin Trans Report - Cities SCO Street report
yearend 63023
$2,920.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$2,920.00
38897 01/26/2024 Open Accounts Payable Melisa Stoner $540.00
Invoice Date Description Amount
012324 MS 01/23/2024 January fitness classes $540.00
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$450.00
580 - Recreation Program 580 100-100 (Cash & Investments Assets Operating
Cash)
$90.00
38898 01/26/2024 Open Accounts Payable Mesiti-Miller Engineering, Inc.$1,797.50
Invoice Date Description Amount
1223021 12/31/2023 Regnart Road Improvements through 12252023 $1,797.50
Paying Fund Cash Account Amount
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$1,797.50
38899 01/26/2024 Open Accounts Payable MONICA G. RANES-GOLDBERG $546.00
Invoice Date Description Amount
012324 MGRG 01/23/2024 January fitness classes $546.00
Paying Fund Cash Account Amount
Monday, January 29, 2024Pages: 20 of 23user: Vi Tran 112
CC 02-21-2024
112 of 456
Payment Register
City of Cupertino
From Payment Date: 1/20/2024 - To Payment Date: 1/26/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$546.00
38900 01/26/2024 Open Accounts Payable Moss Adams LLP $17,500.00
Invoice Date Description Amount
102538540 01/18/2024 Professional Services DEC 23 $17,500.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$17,500.00
38901 01/26/2024 Open Accounts Payable Nickell Fire Protection, Inc.$3,553.66
Invoice Date Description Amount
K008232 12/19/2023 Facilities- Semi-Annual Hood System Inspections $3,553.66
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$3,553.66
38902 01/26/2024 Open Accounts Payable ODP Business Solutions, LLC.$273.58
Invoice Date Description Amount
342504914001 11/16/2023 BBF Paper Supply Order $209.48
346813261001 12/14/2023 Small Tools - Wireless Mouse and Office Supplies -
Medicine
$64.10
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$273.58
38903 01/26/2024 Open Accounts Payable Raychel Renee Balcioni Cruz $3,900.00
Invoice Date Description Amount
012424 RRBC 01/24/2024 January fitness classes and PT $3,900.00
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$3,900.00
38904 01/26/2024 Open Accounts Payable Sherrill Inc.$2,008.68
Invoice Date Description Amount
INV-934517 01/10/2024 Trees- Replacement Blade, Connectors $200.72
INV-934728 01/11/2024 Trees- Prusik, Saw & Scarbbard, ZUBAT, Straps,
Sling, Pulley...
$1,807.96
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$2,008.68
38905 01/26/2024 Open Accounts Payable SONIA DOGRA $156.00
Invoice Date Description Amount
012324 SD 01/23/2024 January fitness classes $156.00
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$156.00
38906 01/26/2024 Open Accounts Payable Statewide Traffic Safety & Signs Inc.$464.84
Invoice Date Description Amount
05042774 01/16/2024 Street- Black Asphalt Patch $464.84
Paying Fund Cash Account Amount
Monday, January 29, 2024Pages: 21 of 23user: Vi Tran 113
CC 02-21-2024
113 of 456
Payment Register
City of Cupertino
From Payment Date: 1/20/2024 - To Payment Date: 1/26/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
270 - Transportation Fund 270 100-100 (Cash & Investments Assets Operating
Cash)
$464.84
38907 01/26/2024 Open Accounts Payable SUNNYVALE FORD, INC.$165.15
Invoice Date Description Amount
231531FOW 01/17/2024 Fleet- HV Valve $47.19
231537FOW 01/18/2024 Fleet- HV A1 Valve $117.96
Paying Fund Cash Account Amount
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$165.15
38908 01/26/2024 Open Accounts Payable The Pun Group, LLP $10,000.00
Invoice Date Description Amount
114333 12/31/2023 audit - year ended June 30, 2023 Progress billing #5 $10,000.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$10,000.00
38909 01/26/2024 Open Accounts Payable Voler Strategic Advisors, Inc $6,000.00
Invoice Date Description Amount
2059 12/06/2023 Communications strategy and support December 2023 $6,000.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$6,000.00
38910 01/26/2024 Open Accounts Payable West Coast Arborists, Inc.$4,400.00
Invoice Date Description Amount
207458-A 12/15/2023 Quinlan Community Center - Pruning SO9 $4,400.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$4,400.00
38911 01/26/2024 Open Accounts Payable West Coast Code Consultants, Inc.$1,392.50
Invoice Date Description Amount
223-011-156-01 12/12/2023 Building Plan Review Services - 2023/11 $1,107.50
223-012-156-01 01/12/2024 Building Plan Review Services - 2022/12 $285.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,392.50
38912 01/26/2024 Open Accounts Payable West Valley Community Services $16,597.92
Invoice Date Description Amount
2657 12/31/2023 HTH Job Training Pilot Program - 2023/12 $16,597.92
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$16,597.92
38913 01/26/2024 Open Accounts Payable WOWzy Creation Corp. dba First
Place
$1,339.07
Invoice Date Description Amount
96370 01/18/2024 Arts and Culture Commission 2023 Artist Awards $1,339.07
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,339.07
Monday, January 29, 2024Pages: 22 of 23user: Vi Tran 114
CC 02-21-2024
114 of 456
Payment Register
City of Cupertino
From Payment Date: 1/20/2024 - To Payment Date: 1/26/2024
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
Type EFT Totals:50 Transactions $583,502.94
Main Account - Main Checking Account Totals
Checks Status Count Transaction Amount Reconciled Amount
Open 38 $306,665.26 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Stopped 0 $0.00 $0.00
Total 38 $306,665.26 $0.00
EFTs Status Count Transaction Amount Reconciled Amount
Open 50 $583,502.94 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Total 50 $583,502.94 $0.00
All Status Count Transaction Amount Reconciled Amount
Open 88 $890,168.20 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Stopped 0 $0.00 $0.00
Total 88 $890,168.20 $0.00
Grand Totals:
Checks Status Count Transaction Amount Reconciled Amount
Open 38 $306,665.26 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Stopped 0 $0.00 $0.00
Total 38 $306,665.26 $0.00
EFTs Status Count Transaction Amount Reconciled Amount
Open 50 $583,502.94 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Total 50 $583,502.94 $0.00
All Status Count Transaction Amount Reconciled Amount
Open 88 $890,168.20 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Stopped 0 $0.00 $0.00
Total 88 $890,168.20 $0.00
Monday, January 29, 2024Pages: 23 of 23user: Vi Tran 115
CC 02-21-2024
115 of 456
CITY OF CUPERTINO
Agenda Item
24-12905 Agenda Date: 2/21/2024
Agenda #: 7.
Subject: Coffee Society Lease Agreement, 10800 Torre Avenue, Cupertino, CA 95014.
Authorize the City Manager to execute a five-year lease agreement with the Coffee Society.
CITY OF CUPERTINO Printed on 2/14/2024Page 1 of 1
powered by Legistar™116
CC 02-21-2024
116 of 456
CITY COUNCIL STAFF REPORT
Meeting: February 21, 2024
Subject
Coffee Society Lease Agreement, 10800 Torre Avenue, Cupertino, CA 94014.
Recommended Action
Authorize the City Manager to execute a five-year lease agreement with the Coffee
Society.
Reasons for Recommendation
The existing lease of the 500 square foot café space (Café) of the Cupertino Library with
Eunju Lim (dba Coffee Society) expires on February 29, 2024. Eunju Lim (Tenant) took
ownership of the Coffee Society and has leased the Café since 2017. The tenant has
provided timely rental payments and has been a good steward of the City of Cupertino
property. Neither the City nor the Library have had any issues with the operation of the
business or management of the Café.
In 2004, after the new Cupertino Library building was completed, the City advertised a
request for qualifications for vendors to lease, develop, and operate a café style service
within the Café. The operator of the Coffee Society was deemed the most qualified
business and was awarded the lease.
The draft lease has no substantive changes from the current lease. The term of the new
lease would be for five years, which is the same term as the current lease, and the draft
lease continues to provide for rent increases that escalate based on the annual urban
Consumer Price Index (CPI-U) for the Bay Area. The rental rate will increase by
approximately $56/month for the first year of the new lease (March 1, 2024, through
February 28, 2025) based on a CPI-U of 2.625%.
Due to the Tenant’s good standing, the establishment of the business within this space,
the ongoing operation of the business, and the minimal need for the City to oversee or
enforce requirements set within the Lease Agreement, the City recommends the
execution of the new five-year lease agreement be authorized. The tenant agreed to the
rent increase as outlined in Attachment A.
117
CC 02-21-2024
117 of 456
Sustainability Impact
No sustainability impact.
Fiscal Impact
Upon execution of the lease, effective March 1, 2024, the City of Cupertino would
continue receiving monthly rental payments based on the negotiated rental rate of
$2,178.62 per month for the first year. This amount will be adjusted annually by CPI-U
rates for the remaining term of the lease.
California Environmental Quality Act (CEQA)
The execution of the lease is exempt from CEQA under CEQA Guidelines section 15301
(existing facilities).
_____________________________________
Prepared by: Chad Mosley, Director of Public Works
Reviewed by: Matt Morley, Assistant City Manager
Approved for Submission by: Pamela Wu, City Manager
Attachments:
A – Draft Coffee Society Lease Agreement (2024)
118
CC 02-21-2024
118 of 456
LEASE AGREEMENT
Eunju Lim (Coffee Society)
This Lease Agreement (“Lease”) is entered into as of the 1st day of March , 2024, by and
between the City of Cupertino, a municipal corporation, 10300 Torre Avenue, Cupertino, CA
95014 (“Lessor”), and Eunju Lim, 10800 Torre Avenue, Cupertino, CA 95014 (“Lessee”).
WHEREAS, Lessor is the owner of certain real property commonly described as being located at
10800 Torre Avenue in the City of Cupertino, County of Santa Clara, California and more
particularly described in Exhibit “A” attached hereto (“Lessor’s Property”); and
WHEREAS, Lessor operates on Lessor’s Property a public library, and desires to have Lessee
operate a café located on the north west corner of the public library building and operated
under the name Coffee Society; and
WHEREAS, Lessee desires to lease from Lessor the café portion of Lessor’s Property (the
“Leased Premises”) to operate an independently owned café business.
NOW THEREFORE, in consideration of the promises and covenants contained herein and for
other good and valuable consideration, the parties hereby agree as follows:
1.LEASE OF PREMISES.
Lessor leases to Lessee and Lessee leases from Lessor the Leased Premises consisting of
approximately 500 square feet of interior space, designated the Café, within the public library
building, along with the non-exclusive right to use exterior public plaza space as more
particularly depicted in Exhibit B, attached hereto, together with the nonexclusive right to use
the common areas and parking areas of Lessor’s Property.
2.TERM AND OPTION.
2.1 Initial Term.
The term of this Lease shall be for five years, commencing on March 1, 2024 (“Commencement
Date”) and ending February 28, 2029.
3.RENT.
3.1 Base Rent.
Lessee agrees to pay Lessor as rent for the Premises commencing upon the Commencement
Date the sum shown below in lawful money of the United States payable on or before the first
day of each calendar month to the Lessor at the address shown in Section 21.
Attachment A
119
CC 02-21-2024
119 of 456
a. From March 1, 2024 through February 29, 2025 the monthly sum of $2,178.62
On an annual basis for each succeeding year of the lease term as well as during any renewal
term, the monthly rent shall be increased to reflect the percentage increase in the Consumer
Price Index for All Urban Consumers (CPI-U) for the San Francisco Area, as published by the
United States Department of Labor, or such other Index which is most consistent therewith if
the Consumers Price Index is no longer published.
On March 1 of each succeeding year, monthly rent shall be adjusted utilizing the most currently
available CPI-U figure, in comparison with the CPI-U figure for the same calendar month 12-
months previously. For example, if as of March 1, 2024 the most currently available CPI figure is
for the month of December, 2023, then the December 2023 CPI-U figure would be compared
with the December 2022 CPI-U figure. If the December 2023 figure were 339.915, and the
December 2022 figure were 331.222, then the monthly rental commencing March 1, 2024
through February 28, 2025 would be $2,178.62 [(339.915/331.222) x $2,122.90 (monthly rent of
previous year)] = $2,178.62. Notwithstanding the foregoing, in no event shall the monthly rent
be reduced below the prior year’s monthly rental rate.
3.2 Late Charges.
Any installment of rent or any other sum due by Lessee and not received by Lessor within ten
(10) days after such amount shall be due, without any requirement for notice to Lessee, shall be
subject to a late charge equal to five percent (5%) of such overdue amount.
4. TAXES.
4.1 Real Estate Taxes.
For the term of this Lease, Lessor shall pay all real estate taxes and assessments levied upon
Lessor’s Property, if any.
4.2 Personal Property Taxes.
During the term hereof, Lessee shall pay, prior to delinquency, all taxes assessed against and
levied upon fixtures, furnishings, equipment and all other personal property of Lessee
contained in the Leased Premises, and when possible Lessee shall cause said fixtures,
furnishings, equipment and other personal property to be assessed and billed separately from
the real property of Lessor. In the event any or all of the Lessee’s fixtures, furnishings,
equipment and other personal property shall be assessed and taxed with Lessor’s real property,
the Lessee shall pay to Lessor its share of such taxes within ten (10) days after delivery to Lessee
by Lessor of a statement in writing setting forth the amount of the taxes applicable to the
Lessee’s property.
120
CC 02-21-2024
120 of 456
5. USE.
5.1 Lessee’s Use.
Lessee shall use the Premises to operate a café that will serve only non-alcoholic beverages
(unless approved otherwise by City issued permits), coffee, tea, pastry, light lunch, dessert, and
snack type items to the general public including City of Cupertino employees. Lessee shall not
use the Leased Premises for any other purpose without the written consent of Lessor, which
consent may be withheld in Lessor’s sole and absolute discretion. Lessee, at Lessee’s sole cost
and expense, shall comply with all applicable municipal, state and federal statutes, ordinances,
rules and regulations in effect during the term of this Lease regulating the use by Lessee of the
Premises.
5.2 Uses Prohibited.
Lessee shall not use nor permit the use of the Leased Premises in any manner that will tend to
create waste or nuisance or unreasonably disturb other tenants and operators on Lessor’s
Property. No use shall be made or permitted to be made of said Premises, nor acts done, which
will increase the existing rate of insurance upon the building in which said Premises may be
located once said rate is established or cause a cancellation of any insurance policy covering
said building or any part thereof, nor shall Lessee sell or permit to be kept, used or sold in or
about said Premises, any article which may be prohibited by a standard form of fire insurance
policies. Lessee shall, at its sole cost, comply with any and all requirements, pertaining to the
use of said Premises, of any insurance organization or company necessary for the maintenance
of reasonable fire and public liability insurance, covering said building and appurtenances.
6. ALTERATIONS AND FIXTURES.
6.1 Lessee’s Rights.
Lessee shall not make any alterations of the Leased Premises, or any part thereof, without the
prior written consent of Lessor. Lessee shall repaint the interior walls of the Premises at
Lessee’s expense provided that Lessor has approved the paint color selections. Any additions
to, or alterations of, said Premises, except movable furniture and trade fixtures, shall become at
once a part of the realty and belong to Lessor. Any such alterations shall be in conformance
with the requirements of all municipal, state and federal authorities. All fixtures, excluding
trade fixtures, that are attached to the Premises shall become at once a part of the realty and
belong to Lessor on expiration or sooner termination of this Lease.
6.2 Lessor’s Rights.
121
CC 02-21-2024
121 of 456
Lessor has the right, in its sole discretion to modify, reconfigure and renovate the public library
of which the Leased Premises are part; provided, however, that if the exercise of such right
interferes with Lessee’s quite enjoyment of use of the Leased Premises, Lessee may be relieved
from the remaining term of the lease, but is not entitled to any other recourse or remedy
resulting from Lessor’s decision to exercise this right.
7. MAINTENANCE, REPAIRS AND ALTERATIONS.
7.1 Lessor’s Obligations
Except for damage caused by any negligent or intentional act or omission of Lessee, Lessee’s
agents, employees, or invitees in which event Lessee shall repair the damage, Lessor, at Lessor’s
expense, shall keep in good order, condition and repair the foundations, exterior walls and the
exterior roof of the Premises. Lessor shall have no obligation to make repairs under this Section
7.1 until a reasonable time after receipt of written notice of the need for such repairs. Lessee
expressly waives the benefits of any statute now or hereafter in effect which would otherwise
afford Lessee the right to make repairs at Lessor’s expense because of Lessor’s failure to keep
the Premises in good order, condition and repair. Lessor, at Lessor’s expense, shall keep in good
order, condition and repair the Premises and every part thereof (whether or not the damaged
portion of the Premises or the means of repairing the same are reasonably or readily accessible
to Lessee) including, without limiting the generality of the foregoing, all plumbing, electrical
and lighting facilities and equipment within the Premises, excluding trade fixtures, interior
walls and interior surface of exterior walls, ceilings, windows, doors, and glass, located within
the Premises. If a regulatory agency finds that there are alterations required to make the
premises compliant with the Americans with Disabilities Act, Lessor shall, at Lessor’s expense,
make the necessary alterations to the premises.
7.2 Lessee’s Obligations.
(a) Lessee agrees that it will abide by the terms of the Lease and will manage its
operations in accordance with industry standards for similar businesses in the Bay Area and at
the highest standards of cleanliness in order to deliver an image and services that will
appropriately blend with Premises and purposes of this Lease. Lessee shall be obligated for the
day-to-day maintenance and cleaning of the interior and exterior surface of windows and plate
glass. Lessee agrees that it will maintain all furniture, both exterior and interior, at the highest
standards of quality and cleanliness, and will replace furniture as necessary to ensure the safety
of Lessee’s agents, employees, customers and invitees. Any furniture supplied and paid for by
the Lessee shall remain the property of the Lessee after the term of this lease. Any furniture
supplied by the Lessor shall remain the property of the Lessor after the term of this lease.
Lessee agrees that it will only employ people who create a clean, well-groomed, friendly, and
122
CC 02-21-2024
122 of 456
positive image of its business. Lessee further agrees that it will require its employees to wear a
standard logo top and similar matching pants in order to present a uniform staff appearance.
(b) If Lessee fails to perform Lessee’s obligations under this Section or under any
other section of this Lease, Lessor may at Lessor’s option enter upon the Premises after ten (10)
days’ prior written notice to Lessee (except in case of emergency, in which case no notice shall
be required), perform such obligations on Lessee’s behalf and put the Premises in good order,
condition and repair, and the cost thereof together with interest thereon at the maximum rate
then allowable by law shall be due and payable as additional rent to Lessor together with
Lessee’s next rental installment.
(c) On the last day of the term hereof, or on any sooner termination, Lessee shall
surrender the Premises to Lessor in good condition, ordinary wear and tear excepted, clean and
free of debris including the removal of Lessee’s trade fixtures. Lessee shall repair any damage
to the Premises occasioned by the installation or removal of its trade fixtures, furnishings and
equipment.
8. INSURANCE.
General Liability
Lessee shall maintain general liability insurance with coverage at least as broad as Insurance
Services Office form CG 00 01, in an amount not less than two million dollars ($2,000,000) per
occurrence, four million dollars ($4,000,000) general aggregate, for bodily injury, personal
injury, and property damage, including without limitation, blanket contractual liability.
Lessee’s general liability policies shall be primary and shall not seek contribution from the
City’s coverage, and be endorsed using Insurance Services Office form CG 20 10 to provide that
City and its officers, officials, employees, and agents shall be additional insureds under such
policies.
Workers’ Compensation
Lessee shall maintain Workers’ Compensation Insurance (Statutory Limits) and Employer’s
Liability Insurance with limits of at least one million dollars ($1,000,000). Lessee shall submit to
City, along with the certificate of insurance, a Waiver of Subrogation endorsement in favor of
City, its officers, agents, employees, and volunteers.
All such policies of insurance shall be issued in the name of Lessee and Lessor and for
the mutual and joint benefit and protection of the parties, and such policies of insurance shall
include a provision requiring that the insurer give Lessor at least ten (10) days written notice
before any cancellation, decrease in coverage or other material change is effective. Copies of the
policy or a Certificate of Insurance thereof shall be delivered to the Lessor within fifteen (15)
days after the Commencement Date stated. If Lessee fails to deliver adequate proof that it has
obtained and kept in force and effect the insurance required by this Section, Lessor shall have
123
CC 02-21-2024
123 of 456
the right, at its option and after notice to Lessee, to effect such insurance and charge the cost of
the premiums to Lessee’s account.
9. INDEMNIFICATION OF LESSOR.
Lessee, as a material part of the consideration to be rendered to Lessor under this Lease, hereby
waives all claims against Lessor for damage to goods, wares and merchandise, in, upon or
about said Premises and for injuries to persons in or about said Premises, from any cause
resulting from Lessee’s use and occupation on the Premise arising at any time; and Lessee will
indemnify and hold Lessor and the property of Lessor exempt and harmless from any and all
claims, liabilities, loss, expenses, damage or injury resulting from Lessee’s use and occupation
of the Premises, including, but not limited to, any claim, liability, loss, or damage arising by
reason of death or injury of any person, the damage to or destruction of any property of any
person, and any work performed on said Premises or materials furnished to said Premises at
the instance or request of Lessee or its agents or employees.
10. ABANDONMENT OF PERSONAL PROPERTY.
Lessee shall not vacate or abandon the Premises at any time during the term of this Lease; and if
Lessee shall abandon, vacate or surrender the Premises or be dispossessed by process of law, or
otherwise, any personal property belonging to Lessee and left on the Premises shall be deemed
to be abandoned, at the option of Lessor, except such property as may be mortgaged to Lessor.
11. UTILITIES.
Lessee shall pay for telephone service, janitorial service including interior and exterior window
washing and all other services used in, upon, or about the Premises by Lessee with the
exception of water, sewer, trash removal from receptacles and electricity which Lessor shall
pay.
12. ENTRY AND INSPECTION.
Lessee shall permit Lessor and its agents to enter into and upon the Premises at all reasonable
times after notice, except in case of an emergency, for the purpose of inspecting the same or for
the purpose of maintaining the building in which said Premises are situated, or for the purpose
of making repairs, alterations or additions to any other portion of said building, including the
erection and maintenance of such scaffolding, canopy, fences and props as may be required, or
for the purpose of posting notices of non-liability for alterations, additions or repairs. Lessor
shall be permitted to do any of the above without any rebate of rent and without any liability to
Lessee for any loss of occupation or quiet enjoyment of the Premises thereby occasioned. Lessee
shall permit Lessor, at any time within ninety (90) days prior to the expiration of this Lease, to
place upon said Premises any usual or ordinary "For Lease" signs and during such ninety (90)
124
CC 02-21-2024
124 of 456
day period Lessor or its agents may, during normal business hours, enter upon said Premises
and exhibit same to prospective Lessees.
13. DAMAGE AND DESTRUCTION OF PREMISES.
In the event of (a) partial destruction of said Premises or the building containing same during
the term of this Lease or any extensions thereof, which requires repairs to either said Premises
or said building, or (b) said Premises or said building being declared unsafe or unfit for
occupancy by any authorized public authority for any reason other than Lessee 's act, use or
occupation, which declaration requires repairs to either said Premises or said building, Lessor
shall forthwith make said repairs provided Lessee gives to Lessor thirty (30) days written notice
of the necessity therefore. No such partial destruction (including any destruction necessary in
order to make repairs required by any declaration made by any public authority) shall in any
way annul or void this Lease except that Lessee shall be entitled to a proportionate reduction of
minimum guaranteed rent while such repairs are being made, such proportionate reduction to
be based upon the extent to which the making of such repairs shall interfere with the business
carried on by Lessee in said Premises. However, if during the last one year of the term of this
Lease the building is damaged as a result of fire or any other insured casualty to an foundation),
Lessor may, within thirty (30) days following the date such damage occurs, terminate this Lease
by written notice to Lessee. If Lessor, however, elects to make said repairs, and provided Lessor
uses due diligence in making said repairs, this Lease shall continue in full force and effect and
the minimum guaranteed rent shall be proportionately reduced as provided above. If Lessor
elects to terminate this Lease all rents shall be prorated between Lessor and Lessee as of the date
of such destruction. The foregoing to the contrary notwithstanding, if the building is damaged
or destroyed at any time during the term hereof to an extent of more than twenty-five (25%)
percent of its then replacement cost (excluding foundation) as a result of a casualty not insured
against, Lessor may within thirty (30) days following the date of such destruction terminate this
Lease upon written notice to Lessee. If Lessor does not elect to so terminate because of said
uninsured casualty, Lessor shall promptly rebuild and repair said Premises and Lessee's rental
obligation shall be proportionately reduced as provided above. In respect to any partial
destruction (including any destruction necessary in order to make repairs required by any
authorized public authority) which Lessor is obligated to repair and may elect to repair under
the terms of this Article, Lessee waives any statutory right it may have to cancel this Lease as a
result of such destruction.
14. SALE OF BUSINESS, ASSIGNMENT AND SUBLETTING.
Lessee shall not be permitted for any reason to assign or sublet the Lease during the first
twenty-four (24) months of this Lease, except as provided below. During the last twelve (12)
months of this lease, Lessee shall not, without Lessor’s prior written consent, which consent
125
CC 02-21-2024
125 of 456
may be withheld in Lessor’s sole and absolute discretion, sublet the Premises or any part
thereof or assign the Lease.
Notwithstanding the foregoing, Lessee is permitted to sell the “Coffee Society” provided the
purchaser provides the same name, type and level of service as currently offered. In the event
of a sale of the business and an Assignment is executed that is acceptable to the City, Lessee will
be released from all liability under this Lease.
15. EMINENT DOMAIN.
If all or any part of the Premises is taken for public or quasi-public use by a governmental
authority under the power of eminent domain or is conveyed to a governmental authority in
lieu of such taking, and if the taking or conveyance causes the remaining part of the Premises to
be untenantable and inadequate for use by Lessee for the purpose for which they were leased,
then Lessee, at its option and by giving notice within fifteen (15) days after the taking, may
terminate this Lease as of the date Lessee is required to surrender possession of the Premises. If
a part of the Premises is taken or conveyed but the remaining part is tenantable and adequate
for Lessee’s use, then this Lease shall be terminated as to the part taken or conveyed as of the
date Lessee surrenders possession; Lessor shall make such repairs, alterations and
improvements as may be necessary to render the part not taken or conveyed tenantable; and the
rent shall be reduced in proportion to the part of the Premises taken or conveyed. All
compensation awarded for the taking or conveyance shall be the property of Lessor without any
deduction therefrom for any estate of Lessee, and Lessee hereby assigns to Lessor all its right,
title and interest in and to the award. Lessee shall have the right, however, to recover from the
governmental authority, but not from Lessor, such compensation as may be awarded to Lessee
on account of the interruption of Lessee’s business, moving and relocation expenses and
removal of Lessee’s trade fixtures and personal property.
16. DEFAULT.
If Lessee fails to make any payment required by the provisions of this Lease, after ten (10) days
of the due date, or fails within fifteen (15) days after written notice thereof to correct any breach
or default of the other covenants, terms or conditions of this Lease, or if Lessee breaches this
Lease and abandons the property before the end of the term, such acts shall constitute a default
under this Lease and Lessor shall have the right at any time thereafter to elect to terminate said
Lease and Lessee’s right to possession thereunder. Upon such termination, Lessor shall have
the right to recover against Lessee:
(a) The worth at the time of award of the unpaid rent, which had been earned at the time
of termination;
126
CC 02-21-2024
126 of 456
(b) The worth at the time of award of the amount by which the unpaid rent which would
have been earned after termination until the time of award exceeds the amount of such rental
loss that the Lessee proves could have been reasonably avoided;
(c) The worth at the time of award of the amount by which the unpaid rent for the
balance of the term after the time of award exceeds the amount of such rental loss that the
Lessee proves could be reasonably avoided; and
(d) Any other amount necessary to compensate the Lessor for all the detriment
proximately caused by Lessee’s failure to perform its obligations under the Lease or which in
the ordinary course of things would be likely to result therefore.
The “worth at the time of award” of the amounts referred to in subsections a. and b. above shall
be computed by allowing interest at ten (10%) percent per annum or the maximum rate
permitted by law. The worth at the time of award of the amount referred to in subsection c.
shall be computed by discounting the amount at the discount rate of the Federal Reserve Bank
of San Francisco at the time of award plus one (1%) percent.
Such efforts as Lessor may make to mitigate the damages caused by Lessee’s breach of this
Lease do not constitute a waiver of Lessor’s right to recover damages against Lessee hereunder,
nor shall anything contained herein affect Lessor’s right to indemnification against Lessee for
any liability arising prior to termination of this Lease for personal injuries or property damage,
and Lessee hereby agrees to indemnify and hold Lessor harmless from any such injuries and
damages, including all attorney’s fees and costs incurred by Lessor in defending any action
brought against Lessor for any recovery thereof, and in enforcing the terms and provisions of
this indemnification provision against Lessee.
If Lessor elects to terminate this Lease and gives Lessee notice of such termination, upon the
giving of such notice, the term of this Lease and the estate hereby granted shall expire and
terminate on the effective date of the notice as fully and completely and with the same effect as
if such date were the date herein fixed for the expiration of the term of this Lease and all rights
of Lessee shall hereunder expire and terminate, but Lessee shall remain liable as here before
provided.
In the event Lessee abandons the Premises, this Lease shall terminate if the Lessor gives written
notice of his belief of abandonment pursuant to Civil Code Sections 1951.2 and 1951.3.
Notwithstanding any of the following, the breach of this Lease by Lessee, or an abandonment of
the Premises by Lessee, shall not constitute a termination of this Lease, or of Lessee’s right of
possession hereunder, unless and until Lessor elects to do so, and until such time Lessor shall
have the right to enforce all of its rights and remedies under this Lease, including the right to
recover rent, and all other payments to be made by Lessee hereunder, as it becomes due;
127
CC 02-21-2024
127 of 456
provided, however, that until such time as Lessor elects to terminate this Lease, and Lessee’s
right of possession hereunder, to collect said rents, issues and profits as they become due and
payable. Upon any such breach or default, Lessor shall have the right at any time thereafter,
without notice except as provided for above, either in person, by agent or by a receiver to be
appointed by a court, to enter and take possession of said Premises and collect such rents, issues
and profits, including those past due and unpaid, and apply the same less costs and expenses of
operation and collection, including reasonable attorney’s fees, upon any indebtedness secured
hereby, and in such order as Lessor may determine.
The parties hereto agree that acts of maintenance or preservation or efforts to re-lease the
Premises, or the appointment of a receiver upon the initiative of the Lessor to protect its
interests under this Lease shall not constitute a termination of Lessee’s right of possession for
the purposes of this Article unless accompanied by a written notice from Lessor to Lessee of
Lessor’s election to so terminate. Nothing contained in this Article shall in any way diminish or
be construed as waiving any of the Lessor’s other remedies as provided elsewhere in this Lease
or by law or in equity.
17. ATTORNEY’S FEES.
If Lessor is involuntarily made a party defendant to any litigation concerning this Lease or the
Premises by reason of any act or omission of Lessee, then, Lessee shall hold harmless Lessor
from all liabilities by reason thereof, including reasonable attorneys’ fees and all costs incurred
by Lessor in such litigation. At its sole discretion Lessor may choose to tender the defense of
any action brought under this Lease against Lessor or in which Lessor is named a party.
Lessor shall be entitled to recover all collection costs including reasonable attorney’s fees
incurred by it as a result of Lessee’s default as herein provided. If either Lessor or Lessee shall
commence any legal proceedings against the other with respect to any of the terms and
conditions of this Lease, the non-prevailing party therein shall pay to the other all expenses of
said litigation, including a reasonable attorneys’ fees as may be fixed by the court having
jurisdiction for litigation of any matters relating to this Lease and service mailed to the address
of Lessees set forth herein shall be adequate service for such litigation.
18. SECURITY DEPOSIT.
Lessee has deposited with Lessor the sum of Five Thousand Dollars ($5,000.00), receipt of which
is hereby acknowledged by Lessor, said deposit being given to secure the faithful performance
by the Lessee of all of the terms, covenants, and conditions of this Lease by the Lessee to be kept
and performed during the term hereof. Lessee agrees that if the Lessee shall fail to pay the rent
herein reserved promptly when due, said deposit may, at the option of the Lessor (but Lessor
shall not be required to) be applied to any rent due and unpaid, and if the Lessee violates any of
the other terms, covenants, and conditions of this Lease, said deposit shall be applied to any
128
CC 02-21-2024
128 of 456
damages suffered by Lessor as a result of Lessee’s default to the extent of the amount of the
damages suffered. Lessor shall not be required to keep such deposit separate from its general
accounts.
Nothing contained in this Article shall in any way diminish or be construed as waiving any of
the Lessor’s other remedies as provided herein, or by law or in equity. Should the entire
security deposit, or any portion thereof, be appropriated and applied by Lessor for the payment
of overdue rent or other sums due and payable to Lessor by Lessee hereunder, then Lessee
shall, on the written demand of Lessor, forthwith remit to Lessor a sufficient amount in cash to
restore said security deposit to its original amount, and Lessee’s failure to do so within fifteen
(15) days after receipt of such demand, shall constitute a breach of this Lease. Should Lessee
comply with all of the terms, covenants, and conditions of this Lease and promptly pay all of
the rental herein provided for as it falls due, and all other sums payable by Lessee to Lessor
hereunder, said security deposit shall be returned in full to Lessee at the end of the term of this
Lease, or upon the earlier termination of this Lease, except in the event the Premises are sold as
a result of the exercise of any power of sale under any mortgage or deed of trust, in which event
this Lease shall be automatically amended to delete any reference to this Section, and Lessee
shall be entitled to immediate reimbursement of its security deposit from the party then holding
said deposit. This Lease does not create a trust relationship between Lessor and Lessee with
respect to such security deposit, and Lessor shall be entitled to treat such security deposit as
Lessor’s own property.
19. HOLDING OVER.
Any holding over after the expiration of the term of this Lease, with the consent of Lessor, shall
be construed to be a tenancy from month to month, cancelable upon thirty (30) days written
notice, and upon terms and conditions as existed during the last year of the term hereof except
that the rent payable shall be one hundred and fifty percent (150%) of the rent payable
immediately preceding the termination date of this Lease.
20. BINDING EFFECT.
The provisions of this Lease shall, subject to Section 14 on assignment, apply to and bind the
heirs, successors, executors, administrators and assigns of all the parties hereto.
21. NOTICE.
All notices must be in writing and shall be delivered by hand, by nationally recognized
overnight express delivery service or by U.S. registered or certified mail, to the addresses set
forth below:
129
CC 02-21-2024
129 of 456
LESSEE: Eunju Lim
Coffee Society
10800 Torre Avenue
Cupertino, CA 95014-3255
Phone: (408) 642-9907
Email: lejblue@gmail.com
LESSOR: City Manager
City of Cupertino
10300 Torre Avenue
Cupertino, CA 95014-3255
Phone: (408) 777-3212
Email: city.manager@cupertino.org
22. PARTIAL INVALIDITY.
If any term, covenant, condition or provision of this Lease is held by a court of competent
jurisdiction to be invalid, void or enforceable, the remainder of the provisions hereof shall
remain in full force and effect and shall in no way be affected, impaired or invalidated thereof.
23. ENTIRE AGREEMENT.
This Lease sets forth the entire agreement between the parties. No amendment or modification
of this Lease shall be binding or valid except by written instrument and signed by the parties.
Executed as of the date first written above.
Lessor:
CITY OF CUPERTINO
By____________________________
Pamela Wu
City Manager
130
CC 02-21-2024
130 of 456
Lessee:
EUNJU LIM
By____________________________
Eunju Lim
Coffee Society Owner
APPROVED AS TO FORM:
____________________________
Christopher Jensen
City Attorney
131
CC 02-21-2024
131 of 456
Exhibit A Lessor's Property
civic plaza
Page 11 of 16
132
CC 02-21-2024
132 of 456
133
CC 02-21-2024
133 of 456
CITY OF CUPERTINO
Agenda Item
24-12870 Agenda Date: 2/21/2024
Agenda #: 8.
Subject:Potential November 2024 Revenue Tax Measure Opinion Research
Forego opinion polling and additional efforts at a November 2024 revenue-generating ballot
initiative
Presenter: Thomas Leung, Budget Manager
CITY OF CUPERTINO Printed on 2/14/2024Page 1 of 1
powered by Legistar™134
CC 02-21-2024
134 of 456
CITY COUNCIL STAFF REPORT
Meeting: February 21, 2024
Subject
Potential November 2024 Revenue Tax Measure Opinion Research.
Recommended Action
Forego opinion polling and additional efforts at a November 2024 revenue-generating
ballot initiative.
Reasons for Recommendation
Background
On December 5, 2023, staff sought Council direction to explore the feasibility of potential
revenue tax measures through opinion research, in alignment with the current work
program. The City’s consultant, Urban Futures, Inc (UFI) presented various revenue tax
measure options, highlighting the advantages, disadvantages, comparisons with
neighboring cities, and projected revenue impacts of each option. UFI ranked TUT as the
top option, followed by TOT, Parcel Tax, and Business Operations Tax. The Council
decided to revisit the issue in early 2024, directing staff to engage the business community
regarding potential measures. In addition to this outreach, the landscape specific to the
November 2024 ballot has evolved. Specifically, several measures that are likely to be
included on the ballot could impact the application of a Cupertino measure.
Business Community Survey and Outreach
To engage the business community, staff conducted three forms of outreach – an online
survey, a small focus group meeting, and individual meetings. As outlined below, the
feedback from the business community was mixed, with an overall negative perspective.
The link to the survey was emailed to all 2,843 business license holders in the City with a
valid email on file. The survey opened on December 20, 2023, and closed on January 15,
2024. The survey was accompanied by a dedicated webpage that described the City’s
financial challenges and included videos describing each revenue tax measure under
consideration.
In addition, the City’s Economic Development Division organized a small focus group
meeting on December 20, 2023, as well as individual meetings between the months of
135
CC 02-21-2024
135 of 456
January and February 2024 to ensure adequate representation from the business
community was achieved.
Business Engagement Results
Out of the 2,843 business license holders, the City received 112 responses to the survey. A
detailed breakdown of the results is available in Attachment A. 43.5% of the surveyed
businesses supported a revenue tax measure. The breakdown indicates specific
preferences among respondents:
35.7% supported a 0.25% TUT.
54.0% supported a 2-3% increase in the TOT.
35.7% supported a parcel tax.
19.1% supported a business operations tax.
November Ballot Landscape
Three ballot measures could potentially complicate the November ballot, making it
challenging to introduce a local measure. Ballot complexity can create confusion and lead
to an increase in “no” votes.
Assembly Constitutional Amendment 13 (ACA 13) – This measure focuses on vote thresholds
necessary to pass revenue measures. Specifically, the measure stipulates that any measure
seeking to increase the voter approval rate, must itself pass at that level. This measure also
sets forth that advisory ballot measures are permissible. This measure has been supported
by the League of California Cities. Although not specifically relevant to the efforts in
Cupertino, this measure, in combination with the next two, could create confusion around
ballot measure approval thresholds.
Assembly Constitutional Amendment 1 (ACA 1) – This measure would lower the threshold
for General Obligation Bonds and special taxes from two-thirds to 55 percent for
infrastructure project funding, including affordable housing. If successful, this measure
could influence the selection of any initiative Cupertino would want to consider. For
example, an infrastructure measure for specific uses might receive greater public support
than a general measure.
Taxpayer Protection and Government Accountability Act (TPA) – Also known by the name of
the sponsors, the California Business Roundtable (CBRT), this measure would
significantly impact any measure Cupertino might put forward. This effort would
redefine revenue that a city collects, broadening the definition of “tax,” and provide for
significant requirements associated with any local measure. Should a measure not align
with these requirements, the measure would be void after twelve months, requiring a
duplicative effort to gain approval, including relevant costs to the City.
136
CC 02-21-2024
136 of 456
These three measures are likely to garner significant spending on advertising and
outreach, both in support and opposition. Given this level of activity, another measure
may have difficulty standing out and gaining enough support to be successful.
Staff Recommendation
Given the existing uncertainty in the City's budget, staff advises against proceeding with
opinion research at this time. While recognizing the importance of a targeted survey to
better understand the City's voter demographics, the current budget uncertainties may
hinder the feasibility of such an effort. It's prudent to reassess and monitor the City's
financial situation before committing to additional expenses.
Furthermore, the complexity of ballot measures and the ensuing uncertainty create an
environment where a tax increase would face significant challenges.
Next Steps
The staff recommendation would cause staff to cease exploration of any revenue-
generating measure for the November 2024 ballot.
Sustainability Impact
No sustainability impact.
Fiscal Impact
Foregoing a ballot initiative will save the city an estimated $13,000 in polling costs and an
additional $58,000 for putting a measure on the ballot and supporting it through outreach.
California Environmental Quality Act (CEQA)
Not applicable.
_____________________________________
Prepared by: Thomas Leung, Budget Manager
Reviewed by: Kristina Alfaro, Director of Administrative Services
Matt Morley, Assistant City Manager
Approved for Submission by: Pamela Wu, City Manager
Attachments:
A – Business Community Survey on Potential Revenue Tax Measures – Survey Results
137
CC 02-21-2024
137 of 456
1/17/24, 6:31 PM Manage Survey Statistics - Graphic Report
https://www.cupertino.org/Admin/Components/Form/Statistics/GraphicStatistics/?question=0&formId=78&itemID=113034 1/2
Survey Title Business Community Survey on Potential Revenue Tax Measures
Start Date 12/19/2023
Question's results to display (Display All Results)
Results layout Column Chart
Results order Answer Order
Date range To Apply Range
Do you live in Cupertino?
Are you the owner of your primary business?
What is the primary industry of your business?
How many people do you currently employ at your primary business?
0.25% Transaction and Use Tax (add-on sales tax)
2-3% increase to Transient Occupancy Tax (hotel tax)
Yes
(51)
No
(59)
42%
52%
62%
72%
82%
92%
46.36%53.64%
Total Submissions: 110
Yes
(96)
No
(15)
0%
20%
40%
60%
80%
100%86.49%
13.51%
Total Submissions: 111
Autos and Transportation
(1)
Building and Construction
(20)
Business and Industry
(10)
Food and Drugs
(3)
Fuel and Service Stations
(1)
General Consumer Goods
(3)
Hotel
(1)
Restaurants
(7)
Other, please specify your primary industry
(67)
0%
20%
40%
60%
80%
100%
0.88%17.7%8.85%2.65%0.88%2.65%0.88%6.19%
59.29%
Total Submissions: 113
No Employees
(40)
1-2 Employees
(16)
3-4 Employees
(11)
5-9 Employees
(18)
10-19 Employees
(10)
20-49 Employees
(6)
50-99 Employees
(2)
100-199 Employees
(1)
200-499 Employees
(0)
Over 500 Employees
(1)
0%
20%
40%
60%
80%
100%
38.1%
15.24%10.48%17.14%9.52%5.71%1.9%0.95%0%0.95%
Total Submissions: 105
Strongly support
(19)
Somewhat support
(21)
Somewhat oppose
(15)
Strongly oppose
(46)
Not Sure
(11)
0%
20%
40%
60%
80%
100%
16.96%18.75%13.39%
41.07%
9.82%
Total Submissions: 112
138
CC 02-21-2024
138 of 456
1/17/24, 6:31 PM Manage Survey Statistics - Graphic Report
https://www.cupertino.org/Admin/Components/Form/Statistics/GraphicStatistics/?question=0&formId=78&itemID=113034 2/2
Parcel Tax (flat rate per parcel)
Business Operations Tax (per employee tax for businesses in the City)
Revenue Tax Measure
Increased Fees for Services
Service-Level Reductions (includes programs, services, and staffing)
Strongly support
(28)
Somewhat support
(32)
Somewhat oppose
(8)
Strongly oppose
(31)
Not Sure
(12)
0%
20%
40%
60%
80%
100%
25.23%28.83%
7.21%
27.93%10.81%
Total Submissions: 111
Strongly support
(15)
Somewhat support
(25)
Somewhat oppose
(19)
Strongly oppose
(41)
Not Sure
(12)
0%
20%
40%
60%
80%
100%
13.39%22.32%16.96%
36.61%
10.71%
Total Submissions: 112
Strongly support
(5)
Somewhat support
(16)
Somewhat oppose
(14)
Strongly oppose
(64)
Not Sure
(11)
0%
20%
40%
60%
80%
100%
4.55%14.55%12.73%
58.18%
10%
Total Submissions: 110
Definitely Yes
(11)
Probably Yes
(36)
Probably No
(9)
Definitely No
(40)
Not Sure
(12)
0%
20%
40%
60%
80%
100%
10.19%
33.33%
8.33%
37.04%
11.11%
Total Submissions: 108
Definitely Yes
(7)
Probably Yes
(43)
Probably No
(18)
Definitely No
(33)
Not Sure
(5)
0%
20%
40%
60%
80%
100%
6.6%
40.57%
16.98%31.13%
4.72%
Total Submissions: 106
Definitely Yes
(30)
Probably Yes
(22)
Probably No
(25)
Definitely No
(19)
Not Sure
(11)
0%
20%
40%
60%
80%
100%
28.04%20.56%23.36%17.76%10.28%
Total Submissions: 107
139
CC 02-21-2024
139 of 456
CITY OF CUPERTINO
Agenda Item
23-12757 Agenda Date: 2/21/2024
Agenda #: 9.
Subject: Accept the City Manager’s Mid-Year Financial Report for Fiscal Year 2023-24
1. Accept the City Manager’s Mid-Year Financial Report for Fiscal Year 2023-24
2. Adopt Resolution No. 24-020 approving Budget Modification No. 2324-326, increasing
appropriations by $10,057 and revenues by $807,672.
Presenter: Thomas Leung, Budget Manager
CITY OF CUPERTINO Printed on 2/14/2024Page 1 of 1
powered by Legistar™140
CC 02-21-2024
140 of 456
CITY COUNCIL STAFF REPORT
Meeting: February 21, 2024
Subject
Accept the City Manager’s Mid-Year Financial Report for Fiscal Year 2023-24
Recommended Action
1. Accept the City Manager’s Mid-Year Financial Report for Fiscal Year 2023-24
2. Adopt Resolution No. 24-XXX approving Budget Modification No. 2324-326,
increasing appropriations by $10,057 and revenues by $807,672.
Executive Summary
The Mid-Year Financial Report for Fiscal Year (FY) 2023-24 outlines the City’s financial
status as of December 31, 2023. The FY 2023-24 Amended Budget is $208.1 million,
increasing from an adopted budget of $121.8 million due to carryovers and encumbrances
from the last fiscal year, in addition to Council-approved budget adjustments.
In the first quarter of FY 2023-24, revenue was $4.1 million, or 9% lower than last year,
primarily attributed to drops in sales tax, intergovernmental, and transfers, while
expenditures were $3.7 million, or 7% lower than last year, primarily due to decreases in
transfers and salaries and benefits.
Key recommendations from the report include the following proposed budget
adjustments:
Increase revenues by $12,414 and appropriations by $10,057 to account for Hidden
Treasures proceeds.
Increase revenues by $795,258 for Utility User Tax revenue adjustments.
141
CC 02-21-2024
141 of 456
2
Reasons for Recommendation
Background
On June 6, 2023, the City Council adopted the FY 2023-24 Adopted Budget, a $121.8
million spending plan funded by $110.2 million in revenue and $11.6 million in fund
balance. The adopted budget reflected a $4.0 million increase from the proposed budget,
mainly due to the Capital Improvement Program, which is presented in parallel with the
Operating Budget and combined once both were approved.
As described in the City Manager’s First Quarter Financial Report, the budget was revised
to account for encumbrances and carryover appropriations.1 As part of the FY 2022-23
year-end close, additional funds were carried forward to FY 2023-24, amounting to $17.1
million in encumbrances and $64.0 million in carryover appropriations. The largest
encumbrances were for capital projects ($3.8 million), while the largest carryovers were
also for capital projects ($31.0 million) and The Rise ($19.1 million).
Furthermore, the FY 2023-24 Amended Budget includes Council-approved budget
adjustments from July 1 to December 31, 2023, totaling $5.2 million. It included $0.5
million in first-quarter adjustments, $0.2 million for a community resilience grant for EV
chargers, and $4.4 million for capital projects and transfers.
The amended budget at the end of mid-year is $208.1 million, funded with $152.0 million
in revenue and $56.1 million in fund balance. The amended budget is the adopted budget,
plus encumbrances, carryovers, and Council-approved budget adjustments. The
reflection of carryovers and encumbrances in the amended budget is a standard practice
in municipal budgeting and aligns with the amounts in previous years, which have been
approximately $80 million. Carryovers and encumbrances are appropriations approved
in prior years but have not yet been spent and are still required for ongoing projects or
obligations.
1 Encumbrances are outstanding commitments tied to unfilled purchase orders or
contracts, which are rolled over to the following fiscal year until those obligations are
fulfilled or terminated. Carryover appropriations are unencumbered funds for unfinished
projects carried over to the following fiscal year to be spent for the same purpose for which
they were approved.
142
CC 02-21-2024
142 of 456
3
Mid-Year Summary of Budget Adjustments by Fund
For detailed descriptions of the budget adjustments, please refer to Attachment C.
Fund
FY 2023-24
Adopted Budget Carryovers Encumbrances
Adjustments
Approved in 1st
and 2nd Quarters
FY 2023-24 Amended
Budget as of
December 31, 2023
General 86,062,998 25,990,872 9,723,884 496,799 122,274,553
Special Revenue 10,401,172 14,081,926 4,101,434 1,304,470 29,889,002
Debt Service 2,677,600 - - - 2,677,600
Capital Projects 4,229,000 22,533,377 2,002,735 3,086,950 31,852,062
Enterprise 9,671,575 608,333 298,323 132,000 10,710,231
Internal Service 8,723,512 820,692 1,001,388 156,871 10,702,463
Total All Funds 121,765,857$ 64,035,200$ 17,127,764$ 5,177,090$ 208,105,911$
143
CC 02-21-2024
143 of 456
4
Discussion
The Mid-Year Financial Report, reported as of December 31, 2023, is a critical tool for the
City to evaluate its current revenue outlook and make necessary adjustments to the
budget in response to changing spending priorities. It provides an overview of the City's
budget status, including its revenue outlook, expenditure patterns, and other key financial
metrics. Additionally, the report helps the City ensure that it stays on track toward
achieving its goals and objectives by providing valuable insights into the City's financial
performance. By using this information to make informed decisions and take appropriate
actions, the City can maintain its fiscal sustainability.
There are minimal requests for funding at mid-year. The City will continue to closely
monitor revenue and expenditure trends in the coming months. This ongoing analysis is
critical to ensuring that the City's budget remains responsive to the needs of its
constituents and is aligned with the City's goals and objectives. By proactively managing
its budget, the City can remain fiscally responsible and provide essential service s and
programs to its community.
Fund
FY 2023-24 Amended
Budget as of
December 31, 2023
Requested Mid-Year
Adjustments Year-End Projections
General 122,274,553 10,057 122,284,610
Special Revenue 29,889,002 - 29,889,002
Debt Service 2,677,600 - 2,677,600
Capital Projects 31,852,062 - 31,852,062
Enterprise 10,710,231 - 10,710,231
Internal Service 10,702,463 - 10,702,463
Total All Funds 208,105,911$ 10,057$ 208,115,968$
144
CC 02-21-2024
144 of 456
5
General Fund
4-Year Comparison of Revenues, Expenditures, and Changes to Fund Balance
($ in millions)
The General Fund's historical revenues, expenditures, and fund balance demonstrate that
expenditures have often exceeded revenues in the amended budget. However, year-end
actuals show that the City’s revenues have historically exceeded expenditures, leading to
the increase in fund balance. Historically, when this was not the case, it was not due to a
structural deficit but the transfer of excess fund balance from the General Fund to the
Capital Reserve per the City's Fund Balance policy. Due to the City's encumbrance and
budget carryover process, fiscal years have generally ended with increases in fund
balance. Beginning in FY 2023-24, the loss of $30 million in sales tax revenue from a
California Department of Tax and Fee Administration (CDTFA) audit of a taxpayer will
result in a structural deficit, with ongoing revenues below ongoing expenditures.
By continuing to monitor and manage its financial resources effectively, the City can
ensure that it maintains a healthy fund balance in the General Fund.
145
CC 02-21-2024
145 of 456
6
Revenue
General Fund revenue is $4.1 million, or 9%, lower than the same time last year due to
changes in the City’s revenue sources as shown in the following table.
Comparison of FY 2022-23 and FY 2023-24 Mid-Year Revenues
General Fund
Sales Tax revenue as of mid-year was $15.9 million, which is a 12% decrease from the
previous year. This decline was primarily due to the timing of payments from the
California Department of Tax and Fee Administration (CDTFA), which are received two
months in arrears. To provide some context, sales tax revenues for FY 2022-23 correspond
to July to December 2022, while revenues for FY 2023-24 correspond to July to November
2023.
For FY 2023-24, the City budgeted $11.4 million in sales tax revenue, a significant
reduction from prior years as the CDTFA audit of a taxpayer was projected to result in a
$30 million loss in sales tax revenue. In October, the City received a letter from the CDTFA
confirming the loss in sales tax; the CDTFA determined that the sales tax reported by the
taxpayer was significantly overstated to the City, requiring the sales tax to be reallocated
to other jurisdictions beginning April 2021 and continuing onwards. However, the
taxpayer continues to allocate the sales tax to Cupertino, resulting in the City continuing
to receive sales tax revenue in dispute. Due to the uncertainty surrounding these
revenues, the disputed sales tax revenue will be set aside in a designated Sales Tax
Repayment Reserve.
Revenue Category
Mid-Year
2023
Mid-Year
2024 Variance ($)Variance (%)
05 - Sales tax 18,135,294 15,946,897 (2,188,397) -12%
10 - Property tax 8,810,200 9,111,207 301,008 3%
15 - Transient occupancy 2,818,190 2,256,103 (562,087) -20%
20 - Utility tax 1,633,462 1,519,268 (114,194) -7%
25 - Franchise fees 758,501 910,438 151,937 20%
30 - Other taxes 604,802 656,756 51,954 9%
35 - Licenses and permits 2,151,138 1,859,890 (291,249) -14%
40 - Use of money and property 1,147,839 1,662,349 514,510 45%
45 - Intergovernmental revenue 1,183,361 221,695 (961,666) -81%
50 - Charges for services 5,317,399 5,705,245 387,847 7%
55 - Fines and forfeitures 116,311 118,777 2,467 2%
60 - Miscellaneous 1,122,219 569,078 (553,141) -49%
65 - Transfers in 861,140 111,000 (750,140) -87%
70 - Other financing sources 65,655 0 (65,655) -100%
Total 44,725,510$ 40,648,704$ (4,076,807)$ -9%
146
CC 02-21-2024
146 of 456
7
Property Tax revenue increased by $301,000, or 3%, compared to last year. In FY 2023-24,
the City’s property tax roll grew $1.411 billion, or 4.57%, year-over-year, compared to
6.65% for the county.
As of June 2023, statewide home sales volume has declined for the last 9 months, due to
high interest rates and low inventory. There were 19.7% fewer home sales in June 2023
than in June 2022: 46.5% fewer than at the peak in 2021. The state median home price in
June was $838,260. This is 2.4% below the median a year ago, a smaller annual decline
than in recent months. 2022 sale prices impacted values on the FY 2023-24 tax rolls. Value
changes from 2023 sales through June are trending up each month but are below 2022
levels. The median sale price of Cupertino detached single-family homes from January
through August 2023 was $2,900,000, a decrease of $32,500 (1.1%) from 2022's median sale
price.
The City’s property tax base remains strong, and HdL, the City’s property tax consultant,
is currently projecting growth in property taxes over the next five years, as shown in the
table below.
Transient Occupancy Tax (TOT) revenue decreased by $562,000, or 20%, compared to the
previous year due to decreased travel, and is still significantly lower than pre-pandemic
levels. The average daily rates and occupancy rates for hotels are now closer to pre-
pandemic levels, as shown in the chart below.
FY 2023-24 FY 2024-25 FY 2025-26 FY 2026-27 FY 2027-28
31,223,141 32,324,317 33,606,651 35,024,886 36,531,087
147
CC 02-21-2024
147 of 456
8
Average Daily Rates and Occupancy Rates by Month
Hotels in Cupertino
Although TOT revenues have mostly recovered from the pandemic, the City's TOT
revenues may continue to be affected in the long term due to telework and decreased
business travel. Headwinds in the tech industry have resulted in layoffs and reduced
spending in areas such as travel. Staff will continue to monitor economic regulations and
other factors and report back on their impact on TOT revenues as part of the quarterly
financial reports.
Utility Tax decreased by approximately $114,000, or 7%, over the previous mid-year
period due to the timing of Utility User Tax (UUT) payments recorded.
Franchise Fees increased by approximately $152,000, or 20%. While the Franchise Fees
show an increase during this mid-year period, this was due to a one-time overpayment
for October 2023 that was corrected with an underpayment in January 2024.
Other Taxes increased by approximately $52,000, or 9%, due to an increase in the collection
of business license taxes and construction taxes.
148
CC 02-21-2024
148 of 456
9
Licenses and Permits decreased by approximately $291,000, or 14%, due to construction
plan check revenues for Westport development and Bay Area Self Storage collected in
prior Mid-Year. Additionally, there was a decrease in commercial project submittals this
year compared to the same period last year.
Use of Money and Property increased by approximately $515,000, or 45%, due to increased
interest earnings from the City’s investment portfolio.
Intergovernmental Revenue decreased by $1.0 million, or 81%, over the same period last
year as all remaining American Rescue Plan Act revenue was recognized in FY 2022-23.
Charges for Services increased by $388,000, or 7%, driven mainly by increases in the
collection of plan review engineering fees collected for many Verizon fiber connectivity
projects for previously installed Verizon small cell equipment this fiscal year.
Fines and Forfeitures increased by $2,500, or 2%, relatively unchanged from last year.
Miscellaneous Revenue decreased by approximately $553,000, or 49%, primarily due to the
timing of the Apple donation for sheriff services.
Transfers In decreased by $750,100, or 87%, due to the one-time transfer-in of funds
received in the first quarter of the prior year to General Fund departments for a 10% non-
Measure B local match for the I-280/Wolfe Road Interchange Improvements Project.
Other Financing Sources remain budgeted at zero dollars due to the timing of refundable
deposit revenues received.
Expenditures
Expenditures in the General Fund have decreased by $3.7 million, or 7%, when compared
to the same time last year. The following table shows the differences between General
Fund expenditures as of the mid-year in the current fiscal year and the prior fiscal year:
149
CC 02-21-2024
149 of 456
10
Comparison of FY 2022-23 and FY 2023-24 Mid-Year Expenditures
General Fund
Salary and Benefits decreased by approximately $1.1 million, or 16%, from last year due to
a reduction in staffing, full-time vacancies, part-time salary savings, and a one-time
payment to employees in the prior fiscal year that was approved by Council on August
16, 2022 as part of labor negotiations.
Materials decreased by approximately $14,000, or 1%, relatively unchanged from last year.
Contract Services increased by approximately $1.9 million, or 16%, primarily driven by
liability premium increases, community shuttle program, and the law enforcement
contract.
Cost Allocation decreased by approximately $64,000, or 1%, primarily due to decreased
Public Affairs and City Attorney’s Office Cost Allocation Plan (CAP) charges.2
Capital Outlay increased by approximately $0.4 million, or 5,339%, due to the security gate
project at the Service Center.
Special Projects increased by approximately $0.6 million, or 48%, primarily due to I-
280/Wolfe Road Interchange Improvement.
2 The cost allocation plan (CAP) allocates indirect and overhead costs to the departments
that benefit from them. Costs incurred by central service providers (e.g., City Manager's
Office, City Attorney's Office, Finance, Human Resources, Facilities, etc.) are charged to
the departments that benefit from the services (e.g., Parks & Recreation). The purpose of
the CAP is to help the City to determine the true cost of providing services.
Expenditure Category
Mid-Year
2023
Mid-Year
2024 Variance ($)Variance (%)
05 - Employee compensation 11,516,507 11,096,489 (420,018) -4%
10 - Employee benefits 5,368,895 4,664,982 (703,912) -13%
15 - Materials 2,501,393 2,487,504 (13,889) -1%
20 - Contract services 11,893,523 13,833,030 1,939,507 16%
25 - Cost allocation 5,192,981 5,128,828 (64,153) -1%
30 - Capital outlays 7,750 421,523 413,773 5339%
31 - Special projects 1,289,725 1,909,536 619,811 48%
35 - Contingencies 277 - - 0%
45 - Transfer out 11,996,300 6,595,284 (5,401,016) -45%
50 - Other financing uses 178,047 102,412 (75,635) -42%
Total 49,945,397$ 46,239,589$ (3,705,531)$ -7%
150
CC 02-21-2024
150 of 456
11
Contingencies remain relatively unchanged from last year.
Transfers Out decreased by approximately $5.4 million, or 45%, due to the reduction of
transfers as an expenditure reduction strategy. Interfund transfers are the movement of
cash between one or more funds. As part of the Adopted Budget process, transfers from
the General Fund to other City funds serve as operating subsidies to ensure each fund has
a positive fund balance at the end of the fiscal year.
Other Financing Uses decreased by approximately $76,000, or 42%, due to refundable
deposit on-call contracts for the Community Development Department.
Special Revenue Funds
Revenue
Special Revenue Funds revenue is $1.2 million, or 20%, lower than the same time last year
primarily due to an increase in intergovernmental revenue.
Comparison of FY 2022-23 and FY 2023-24 Mid-Year Revenues
Special Revenue Funds
Other Taxes decreased by approximately $0.5 million, or 72%, primarily due to decreased
park dedication fees received in the prior mid-year period for Alan Row.
Use of Money and Property increased by approximately $62,000, or 22%, due to increased
interest earnings from the City’s investment portfolio.
Intergovernmental Revenue increased by approximately $1.3 million, or 74%, due to
reimbursement from Measure B funds for 2022 pavement maintenance.
Charges for services decreased by approximately $42,000, or 36%, primarily due to
engineering fee revenues received in the prior mid-year period for a traffic impact study
related to the Alan Row project, in addition to a larger than average environmental storm
drain clean-up reimbursement received last mid-year period.
Revenue Category
Mid-Year
2023
Mid-Year
2024 Variance ($)Variance (%)
30 - Other taxes 740,204 205,602 (534,602) -72%
40 - Use of money and property 286,041 348,511 62,471 22%
45 - Intergovernmental revenue 1,738,682 3,031,052 1,292,370 74%
50 - Charges for services 118,121 76,061 (42,060) -36%
55 - Fines and forfeitures 0 156 156 N/A
60 - Miscellaneous 1,429 4,304 2,875 201%
65 - Transfers in 3,025,000 3,449,019 424,019 14%
Total 5,909,476$ 7,114,705$ 1,205,228$ 20%
151
CC 02-21-2024
151 of 456
12
Fines and forfeitures were relatively unchanged from last year.
Miscellaneous revenues were relatively unchanged from last year.
Transfers In increased by approximately $424,000, or 14%, due to increased transfers to the
Transportation Fund for approved Capital Improvement Program projects.
Interfund transfers are the movement of cash between one or more funds. As part of the
Adopted Budget process, transfers from the General Fund to other City funds serve as
operating subsidies to ensure that each fund has a positive fund balance at the end of the
fiscal year. Additionally, when Capital Improvement Program (CIP) projects are
authorized by City Council, a transfer from the Capital Reserve to the appropriate fund is
necessary to record the costs and activities of the project. For more information on the
City’s operating and capital transfers, refer to pages 625-627 and 632-633 of the FY 2023-
24 Adopted Budget.
Expenditures
Special Revenue Funds expenditures are $2.7 million, or 31%, lower than the same time
last year due primarily to decreases in capital outlays.
Comparison of FY 2022-23 and FY 2023-24 Mid-Year Expenditures
Special Revenue Funds
Salary and Benefits decreased by approximately $0.2 million, or 16%, from last year due to
a reduction in staffing, full-time vacancies, and part-time salary savings.
Materials decreased by approximately $13,000, or 5%, relatively consistent with the
previous fiscal year.
Expenditure Category
Mid-Year
2023
Mid-Year
2024 Variance ($)Variance (%)
05 - Employee compensation 987,424 838,413 (149,011) -15%
10 - Employee benefits 467,876 383,234 (84,642) -18%
15 - Materials 288,344 274,984 (13,359) -5%
20 - Contract services 456,400 481,661 25,261 6%
25 - Cost allocation 595,784 610,307 14,524 2%
30 - Capital outlays 3,639,886 2,058,193 (1,581,693) -43%
31 - Special projects 1,617,220 879,804 (737,416) -46%
35 - Contingencies - - - N/A
45 - Transfer out 561,140 382,951 (178,189) -32%
Total 8,614,073$ 5,909,548$ (2,704,526)$ -31%
152
CC 02-21-2024
152 of 456
13
Contract Services increased by approximately $25,000, or 6%, primarily due to annual
sidewalk curb and gutter maintenance.
Cost Allocation increased by approximately $15,000, or 2%, primarily due to increased
Innovation & Technology and Council & Commissions CAP charges.
Capital Outlays decreased by approximately $2.0 million, or 43%, due to decreases in the
Orange Avenue Sidewalk Improvements project.
Special Projects decreased by approximately $0.7 million, or 46%, due to decreases in the
annual asphalt project.
Transfers Out decreased by $0.2 million, or 32%, due to reduced transfers for CIP projects.
Debt Service Funds
Revenue
Debt Service Funds revenue is similar to last year.
Comparison of FY 2022-23 and FY 2023-24 Mid-Year Revenues
Debt Service Funds
Expenditures
Debt Service Funds expenditures are similar to last year.
Comparison of FY 2022-23 and FY 2023-24 Mid-Year Expenditures
Debt Service Funds
Capital Projects Funds
Revenue
Capital Projects Funds revenue is higher than last year primarily due to more transfers to
fund capital projects and increased intergovernmental revenue.
Revenue Category
Mid-Year
2023
Mid-Year
2024 Variance ($)Variance (%)
65 - Transfers in 2,675,800 2,677,600 1,800 0%
2,675,800$ 2,677,600$ 1,800$ 0%
Expenditure Category
Mid-Year
2023
Mid-Year
2024 Variance ($)Variance (%)
20 - Contract services 1,500 1,500 - 0%
40 - Debt services 360,400 321,300 (39,100) -11%
Total 361,900$ 322,800$ (39,100)$ -11%
153
CC 02-21-2024
153 of 456
14
Comparison of FY 2022-23 and FY 2023-24 Mid-Year Revenues
Capital Projects Funds
Intergovernmental revenue increased by approximately $226,000 due to a grant for Wilson
Park Basketball Court and Measure B revenue.
Expenditures
Capital Projects Funds expenditures are higher than last year due to an increase in
transfers to fund capital projects.
Comparison of FY 2022-23 and FY 2023-24 Mid-Year Expenditures
Capital Projects Funds
Enterprise Funds
Revenue
Enterprise Funds revenue is $0.5 million, or 12%, lower than the same time last year due
primarily to decreased intergovernmental revenue and transfer in.
Comparison of FY 2022-23 and FY 2023-24 Mid-Year Revenues
Enterprise Funds
Use of Money and Property decreased by approximately $26,000, or 7%, due to decreased
field rental permit revenue.
Revenue Category
Mid-Year
2023
Mid-Year
2024 Variance ($)Variance (%)
45 - Intergovernmental revenue - 225,652 225,652 N/A
50 - Charges for services - - - N/A
60 - Miscellaneous 56,522 - (56,522) -100%
65 - Transfers in 3,000,000 3,746,717 746,717 25%
Grand Total 3,056,522 3,972,369 915,847 30%
Expenditure Category Mid-Year
2023
Mid-Year
2024 Variance ($)Variance (%)
05 - Employee compensation 3,250 - (3,250) -100%
10 - Employee benefits 1,498 - (1,498) -100%
20 - Contract services 144,788 161,960 17,172 12%
30 - Capital outlays 1,769,880 1,332,901 (436,979) -25%
45 - Transfer out 823,600 4,327,785 3,504,185 425%
Grand Total 2,743,016$ 5,822,646$ 3,079,630$ 112%
Revenue Category
Mid-Year
2023
Mid-Year
2024 Variance ($)Variance (%)
40 - Use of money and property 353,890 328,058 (25,832) -7%
45 - Intergovernmental revenue 83,693 - (83,693) -100%
50 - Charges for services 3,156,536 3,173,342 16,806 1%
60 - Miscellaneous - 11,300 11,300 N/A
65 - Transfers in 399,600 - (399,600) -100%
Total 3,993,719$ 3,512,700$ (481,019)$ -12%
154
CC 02-21-2024
154 of 456
15
Intergovernmental Revenue decreased by approximately $84,000 due to a grant to assist with
meeting the requirements of Senate Bill (SB) 1383, the State’s Short-Lived Climate
Pollutant Reduction Strategy in FY 2022-23.
Charges for services increased by approximately $17,000, or 1%, relatively unchanged from
last year.
Transfers In decreased by approximately $0.4 million, or 100%, due to no transfers from
the General Fund.
Expenditures
Enterprise Funds expenditures are $0.2 million, or 5%, higher than the same time last year
due primarily to increases in special projects.
Comparison of FY 2022-23 and FY 2023-24 Mid-Year Expenditures
Enterprise Funds
Salary and Benefits increased by approximately $50,000, or 4%, primarily due to negotiated
cost-of-living adjustments approved by the City Council on November 7, 2023.
Materials decreased by approximately $33,000, or 17%, primarily due to a decrease in
expenditures for CalRecycle and general supplies.
Contract Services had an insignificant change from the same period last year.
Cost Allocation increased by approximately $75,000, or 19%, primarily due to increased
I&T and Human Resources CAP charges.
Capital Outlays increased by approximately $14,000, or 3,997%, due to projects that differ
in scope and timing from year to year.
Special Projects increased by approximately $0.2 million, or 195%, due to projects that differ
in scope and timing from year to year.
Expenditure Category Mid-Year
2023
Mid-Year
2024 Variance ($)Variance (%)
05 - Employee compensation 831,168 889,199 58,031 7%
10 - Employee benefits 306,790 298,906 (7,884) -3%
15 - Materials 187,673 155,008 (32,664) -17%
20 - Contract services 2,277,057 2,222,727 (54,330) -2%
25 - Cost allocation 394,970 469,679 74,710 19%
30 - Capital outlays 342 13,995 13,653 3997%
31 - Special projects 121,846 359,960 238,114 195%
45 - Transfer out - 20,000 20,000 N/A
50 - Other financing uses 81,176 - (81,176) -100%
Grand Total 4,201,020$ 4,429,473$ 228,453$ 5%
155
CC 02-21-2024
155 of 456
16
Internal Service Funds
Revenue
Internal Service Funds revenue is $2.2 million, or 38%, lower than the same time last year
due to decreased transfers in.
Comparison of FY 2022-23 and FY 2023-24 Mid-Year Revenues
Internal Service Funds
Use of Money and Property increased by approximately $12,000, or 18%, due to increased
interest earnings from the City’s investment portfolio.
Transfers In decreased by approximately $2.0 million, or 59%, due to decreased transfers
from the General Fund to the Innovation & Technology and Compensated Absences
Fund.
Other Financing Sources decreased by about $219,000 due to no workers’ compensation
CAP in FY 2023-24 due to sufficient fund balance in the Workers’ Compensation Fund.
Expenditures
Internal Service Funds expenditures are $96,000, or 2%, lower than the same time last year
due primarily to a decrease in other financing uses.
Comparison of FY 2022-23 and FY 2023-24 Mid-Year Expenditures
Internal Service Funds
Revenue Category
Mid-Year
2023
Mid-Year
2024 Variance ($)Variance (%)
40 - Use of money and property 64,795 76,316 11,521 18%
50 - Charges for services 2,089,981 2,086,768 (3,213) 0%
60 - Miscellaneous - 5,666 5,666 N/A
65 - Transfers in 3,419,500 1,417,684 (2,001,816) -59%
70 - Other financing sources 218,671 - (218,671) -100%
Total 5,792,947$ 3,586,434$ (2,206,513)$ -38%
Expenditure Category Mid-Year
2023
Mid-Year
2024 Variance ($)Variance (%)
05 - Employee compensation 949,060 965,434 16,374 2%
10 - Employee benefits 1,094,145 1,027,952 (66,193) -6%
15 - Materials 406,648 631,637 224,989 55%
20 - Contract services 646,754 782,649 135,895 21%
25 - Cost allocation 31,021 28,811 (2,210) -7%
31 - Special projects 389,419 343,867 (45,552) -12%
35 - Contingencies - - - N/A
45 - Transfer out - 76,000 76,000 N/A
50 - Other financing uses 435,790 - (435,790) -100%
Grand Total 3,952,837$ 3,856,350$ (96,488)$ -2%
156
CC 02-21-2024
156 of 456
17
Salary and Benefits decreased by $50,000, or 2%, primarily due to a one-time payment to
employees in the prior fiscal year that was approved by Council on August 16, 2022 as
part of labor negotiations.
Materials increased by $225,000, or 55%, mainly due to increases in Innovation &
Technology software and equipment expenditures.
Contract Services are up approximately $0.1 million, or 21%, largely due to increases in
workers’ compensation insurance premiums.
Special Projects decreased by approximately $46,000, or 12%, due to projects that differ in
scope and timing from year to year.
Other Financing Uses decreased by approximately $0.4 million, or 100%, because
depreciation expenses for the first two quarters have not been included yet.
Budget Adjustment Requests
The City's departments regularly evaluate their budget expenditures throughout the fiscal
year to ensure they stay within their budget appropriations. In case of any variance, they
can request budget adjustments as necessary as part of the quarterly reports.
The budget adjustment requests are summarized in the table below.
Hidden Treasures Proceeds
The Hidden Treasures event at the Senior Center accepts donations from the community
and, in turn, sells the donations on the last Thursday in October. The proceeds are then
calculated into the costs to run the event, with the remaining amount incorporated into
the Stay Active Fund. The Stay Active Fund helps members ages 50 and over remain active
and engaged at the Cupertino Senior Center. This fund provides financial assistance
through scholarships for members to offset the cost of a Senior Center membership and
registration for classes and events. This fund is also utilized to bring in specialized
speakers, secure educational films, and purchase resource materials, etc., for events and
programs that promote prevention and preparedness of aging issues, such as the Health
Fair. Staff requests the use of the $12,414 revenue brought in during the Hidden Treasures
Fund Department Revenue Expenditure
Change in
Fund Balance Proposal
GENERAL FUND
100 General Fund Non-Departmental 795,258 - 795,258 Utility User Tax Revenue Adjustment
100 General Fund Parks & Recreation 12,414 10,057 2,357 Hidden Treasures Proceeds
807,672 10,057 797,615
TOTAL ALL FUNDS 807,672$ 10,057$ 797,615$
TOTAL GENERAL FUND
157
CC 02-21-2024
157 of 456
18
event to reimburse the costs to run the program and continue to support the Stay Active
Fund.
Utility User Tax Revenue Adjustment
Utility User Tax revenue is being adjusted to align with the increase in rates being charged
to customers, resulting in increased tax revenue for the City.
Fund Balance
The General Fund ended FY 2021-22 with total fund balance of $110.2 million. Staff
anticipates the General Fund will end FY 2022-23 with $140.6 million in fund balance, an
increase of $30.4 million from the prior year due to FY 2022-23 ending with revenues
higher than expenditures.
As of mid-year, staff anticipates the General Fund will end FY 2023-24 with $137.5 million
in fund balance. It’s important to note that the only portion available for use, according to
City policy, is unassigned funds. Restricted funds, such as the Section 115 Pension Trust,
are allocated for specific purposes stipulated by external resource providers. Committed
funds, such as the Sales Tax Repayment Reserve, are set aside for specific purposes
determined by City Council resolution. Assigned funds are reserved for encumbrances.
Of the total fund balance, $36.7 million is unassigned and available for use.
Approximately $10.7 million of unassigned fund balance is attributed to Vallco Town
Center plan check and building inspection revenues that were carried over. These
revenues will continue to be carried over each year until the services are rendered, and
the revenues are recognized.
On October 10, 2023, the City established a committed Sales Tax Repayment Reserve with
an initial allocation of $56.5 million. This reserve is designed to address a potential adverse
CDTFA decision and the uncertain outcome of the anticipated legal challenge. Committed
fund balance, as described on page 165 of the FY 2023-24 Adopted Budget, “includes
amounts that can only be used for the specific purposes determined by formal action of
the City’s highest level of decision-making authority, the City Council. Commitments may
be changed or lifted only by the City taking the same formal action (resolution) that
imposed the constraint originally.”
The reserve was funded as follows:
$40.5 million from General Fund Unassigned fund balance.
$10.0 million from the General Fund Committed Capital Projects Reserve.
$6.0 million from the General Fund Committed Economic Uncertainty Reserve.
158
CC 02-21-2024
158 of 456
19
The initial allocation to the Sales Tax Repayment Reserve was $56.5 million, accounting
for disputed sales tax revenue received between April 1, 2021, and June 30, 2023. The City
continues to receive disputed sales tax revenue, with approximately $60.3 million received
as of September 30, 2023. In the third quarter, staff will reconcile revenues with actuals
and adjust the Sales Tax Repayment Reserve accordingly.
General Fund Classification of Fund Balance
To date, the City’s external auditors have not completed their review of the City’s
financials. Revenue, expenditure, and fund balance totals listed in this report are
preliminary and subject to change after a full review by the City’s auditors. City staff does
not anticipate many, if any, changes to these figures.
159
CC 02-21-2024
159 of 456
20
Per the City’s Fund Balance Policy, unassigned fund balance over $500,000 is to be used
in the following order to replenish committed/restricted fund balances with any
remaining balances to be placed in the Capital Reserve:
1. Economic Uncertainty Reserve
2. Sales Tax Repayment Reserve
3. CalPERS Reserve (Section 115 Pension Trust)
4. Sustainability Reserve
5. Unassigned
As of mid-year, all priority areas are fully funded.
Staffing
As of December 31, 2023, the FY 2023-24 Amended Budget includes a total of 212 full-time
equivalent (FTE) positions. No changes are recommended at mid-year.
Performance Measures & Workload Indicators
The Mid-Year Financial Report includes updated performance measures and workload
indicators that are in line with the best practices of both government and private industry.
These measures have been designed to provide a comprehensive understanding of the
City's performance and progress toward achieving its goals and objectives. Attachment F
provides an overview of the status of the performance measures as of mid-year. This
information is critical to effective decision-making and ensuring that resources are being
used in the most efficient and effective way possible.
City Manager Discretionary Fund
In the FY 2023-24 Adopted Budget, City Council approved $50,000 in funding for the City
Manager Discretionary Fund. The quarterly financial reports will detail the City
Manager’s use of the discretionary fund and may include recommendations to replenish
depending on the extent and nature of use. As of December 31, 2023, the City Manager’s
Discretionary Fund has not been used.
Special Projects
The quarterly financial reports provide a status update on special projects, including the
budget, amount spent, and estimated completion date. See Attachment G for FY 2022-23
special projects and Attachment H for FY 2023-24 special projects as of December 31, 2023.
Grants
The City entered into a contract with California Consulting in February 2019 to identify
and apply for State and Federal grants on behalf of the City. The contract originated in
Public Works and was transferred to Administrative Services in FY 2022-23. The goals of
this pilot program were to centralize the grant function and to maximize grant
160
CC 02-21-2024
160 of 456
21
opportunities. However, as part of a Citywide budget reduction strategy, the contract
with California Consulting ended on June 30, 2023. With the elimination of this contract,
departments are now responsible for identifying and applying for grants.
Staff provides updates on the status of grants as part of the quarterly financial reports.
During FY 2021-22, FY 2022-23, and FY 2023-24, the City applied for 25 competitive grants
totaling $36.7 million. To date, the City has been awarded $22.4 million. Furthermore,
during FY 2018-19, 2019-20, and 2020-21, the City applied for 10 additional grants totaling
$10.2 million. Of these 10 grants, the City has been awarded $9.2 million. Also, during FY
2021-22, FY 2022-23, and FY 2023-24, the City applied for 18 non-competitive grants
totaling $2.8 million. These numbers have been revised from prior reporting periods to
reflect that the Santa Clara County Home Investment Partnership (HOME) Consortium
grants are available each year. Cities in the County can apply for these funds for future
Fiscal Years as a part of the County Consortium.
See Attachment I for further details on grants applied, pending, awarded, and not
awarded.
Capital Improvement Program
The quarterly financial reports provide a revised estimate and update on Capital
Improvement Program (CIP) projects. As of mid-year, the Public Works Department is
not requesting any revisions to the capital budget. See Attachment J for the status of
projects.
Sustainability Impact
No sustainability impact.
Fiscal Impact
The Mid-Year Financial Report shows the City is positioned as anticipated. City staff
recommends adjustments of $10,057 in new appropriations, funded by $807,672 in
revenues and $797,615 in one-time fund balance. The City will continue to monitor its
revenue and expenditure trends closely to ensure it remains on track toward achieving its
budgetary goals and objectives.
California Environmental Quality Act
Not applicable.
Prepared by: Thomas Leung, Budget Manager
Reviewed by: Kristina Alfaro, Director of Administrative Services
Matt Morley, Assistant City Manager
Approved for Submission by: Pamela Wu, City Manager
Attachments:
161
CC 02-21-2024
161 of 456
22
A – FY 2023-24 Mid-Year Financial Report
B – Draft Resolution
C – Description of Carryovers and Adjustments as of December 31, 2023
D – Description of Budget Transfers as of December 31, 2023
E – FY 2023-24 Mid-Year Recommended Adjustments
F – Mid-Year Performance Measures & Workload Indicators
G – FY 2022-23 Special Projects Update
H – FY 2023-24 Mid-Year Special Projects Update as of December 31, 2023
I – Competitive and Non-Competitive Citywide Grants Tracking
J – Capital Improvement Program Project Status
162
CC 02-21-2024
162 of 456
This Financial Report is interactive. Click on a chart to learn more.
Background
On June 6, 2023, the City Council adopted the FY 2023-24 Adopted Budget, a $121.8 million spending plan
funded by $110.2 million in revenue and $11.6 million in fund balance.
As described in the City Manager’s First Quarter Financial Report, the budget was revised to account for
encumbrances and carryover appropriations. As part of the FY 2022-23 year-end close, additional funds were
carried forward to FY 2023-24, amounting to $17.1 million in encumbrances and $64.0 million in carryover
appropriations. The largest encumbrances were for capital projects ($3.8 million), while the largest carryovers
were also for capital projects ($31.0 million) and The Rise ($19.1 million).
Furthermore, the FY 2023-24 Amended Budget includes Council-approved budget amendments from July 1 to
December 31, 2023, totaling $5.2 million. It included $0.5 million in first quarter adjustments, $0.2 million for a
community resilience grant for EV chargers, and $4.4 million for capital projects and transfers.
As a result of these budget adjustments, encumbrances, and carryovers, the amended budget at the end of
the first quarter is $208.1 million, funded with $152.0 million in revenue and $56.1 million in fund balance. The
reflection of carryovers and encumbrances in the amended budget is a standard practice in municipal
budgeting and aligns with the amounts in previous years, which have been approximately $80 million.
Carryovers and encumbrances are appropriations approved in prior years but have not yet been spent.
Amended Budget
CITY OF CUPERTINO
FY 2023-24 Mid-Year Financial Report
The Administrative Services Department is pleased to present the Mid-Year Financial Report for
Fiscal Year 2023-24, covering the period from July 1, 2023 to December 31, 2023. This report serves
as an update on the City's financial standing, providing the City Council, City leadership, and the
public with important insights on the City's fiscal status.
The City is committed to providing accurate and timely financial information, and this report reflects its
ongoing efforts to maintain transparency and accountability.
163
CC 02-21-2024
163 of 456
2023-24
Adopted Budget
2023-24
Amended Budget
Q1
2023-24
Amended Budget
Q2
Fiscal Year
0.0
100.0M
200.0M
50.0M
150.0M
Do
l
l
a
r
s
Public Works
Community Development
Capital Projects
Law Enforcement
Parks and Recreation
Non Departmental
Administrative Services
Innovation & Technology
Administration
Council and Commissions
Flow of Funds Chart (in Millions)
General Fund Revenues, Expenditures, and Fund Balance
To date the City’s financial statement audit has yet to be issued and revenue, expenditure, and fund balance
totals listed in this report are preliminary and subject to change after a full review by the City’s auditors. City
staff does not anticipate many if any changes from the auditors.
164
CC 02-21-2024
164 of 456
December
2020-21
Actual
2021-22
Amended Budget
Q2
June
2021-22
Actual
December
2022-23
Actual
2023-24
Adopted Budget
December
2023-24
Actual
Fiscal Year
0.0
100.0M
25.0M
50.0M
75.0M
125.0M
Do
l
l
a
r
s
Revenues
Expenses
-$5,590,885.35
Revenues Less Expenses in Dec 2023
-$6M
-$4M
-$2M
$0
$2M
$4M
$6M
$8M
Dec 2020 Dec 2021 Dec 2022 Dec 2023
$30,392,421.28
Revenues Less Expenses in Jun 2023
$0
$5M
$10M
$15M
$20M
$25M
$30M
$35M
Jun 2021 Jun 2022 Jun 2023
General Fund Revenue and Expenditure Trends
As of December 31, 2023, General Fund revenues have totaled $40.6 million, representing 36% of the
budgeted revenue. This is below the mid-year revenue range of the past three years, which was between 33%
and 40%. General Fund expenditures have totaled $46.2 million, which is 38% of the budgeted appropriations.
This is below the mid-year expenditure range of the previous three years, which was between 44% and 51%
of year-end actual expenditures. To ensure fiscal stability, staff will continue to closely monitor leading revenue
sources throughout the year.
General Fund Revenues - Expenses at Mid-Year General Fund Revenues - Expenses at Year End
165
CC 02-21-2024
165 of 456
General Fund Revenues - Mid-Year Actuals vs Budget
Data Updated Feb 13, 2024, 10:07 PM
12/2020 12/2021 12/2022 12/2023
35.87%
In Revenues of $113,323,597.00 Budgeted through Dec 2023
General Fund Expenses - Mid-Year Actuals vs Budget
Data Updated Feb 13, 2024, 10:07 PM
12/2020 12/2021 12/2022 12/2023
37.82%
In Expenses of $122,274,553.00 Budgeted through Dec 2023
$40,648,703.80
Revenues in Dec 2023
$0
$20M
$40M
$60M
$80M
$100M
$120M
Dec 2020 Dec 2021 Dec 2022 Dec 2023
$46,239,589.15
Expenses in Dec 2023
$0
$20M
$40M
$60M
$80M
$100M
Dec 2020 Dec 2021 Dec 2022 Dec 2023
$40,648,703.80
Revenues in Dec 2023
Sales Tax
Other
Licenses and...
Transient Oc...
Charges for ...
Property Tax
$46,239,589.15
Expenses in Dec 2023
Contract Ser...
Employee Com...
Other
Employee Ben...
Cost Allocat...
Transfers Ou...
General Fund Classification of Fund Balance
The General Fund ended FY 2021-22 with total fund balance of $110.2 million. Staff anticipates the General
Fund will end FY 2022-23 with $140.6 million in fund balance, an increase of $30.4 million from the prior year
due to FY 2022-23 ending with revenues higher than expenditures. As of mid-year, staff anticipates the
General Fund Revenues - Mid-Year vs Year End Actuals General Fund Expenses - Mid-Year vs Year End Actuals
General Fund Revenues by Type General Fund Expenses by Type
166
CC 02-21-2024
166 of 456
General Fund will end FY 2023-24 with $137.5 million in fund balance, including $36.7 million in unassigned
fund balance.
To date, the City’s outside auditors have not completed their review of the City’s financials. Revenue,
expenditure, and fund balance totals listed in this report are preliminary and subject to change after a full
review by the City’s auditors. City Staff does not anticipate many, if any, changes from the auditors.
Recommended Adjustments
The City's departments regularly evaluate their budget expenditures throughout the fiscal year to ensure they
stay within their budget appropriations. In case of any variance, they can request budget adjustments as
necessary as part of the quarterly reports.
The budget adjustment requests are summarized in the table below.
Summary
The Mid-Year Financial Report shows the City is positioned as anticipated. City staff recommends adjustments
of $10,057 in new appropriations, funded by $807,672 in revenues and $797,615 in one-time fund balance.
The City will continue to monitor its revenue and expenditure trends closely to ensure it remains on track
toward achieving its budgetary goals and objectives.
167
CC 02-21-2024
167 of 456
City of Cupertino, California
Cupertino City Hall
10300 Torre Avenue
Cupertino, CA 95014-3202
View the City Council Meeting Agenda
View the City's Budgets
View the City's Financial Transparency Portal
Powered by OpenGov
168
CC 02-21-2024
168 of 456
RESOLUTION NO. 24-XXX
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CUPERTINO
AMENDING THE OPERATING BUDGET FOR FISCAL YEAR 2023-24 BY
APPROPRIATING, TRANSFERRING, AND UNAPPROPRIATING MONIES
FOR SPECIFIED FUNDS
WHEREAS, the orderly administration of municipal government depends
on a sound fiscal policy of maintaining a proper ratio of expenditures within
anticipated revenues and available monies; and
WHEREAS, accomplishing City Council directives, projects and programs,
and performing staff duties and responsibilities likewise depends on the monies
available for that purpose; and
WHEREAS, the City Manager has determined that the balances from the
funds specified in this resolution are adequate to cover the proposed amen ded
appropriations, and therefore recommends the fund reallocations described
herein.
NOW, THEREFORE, BE IT RESOLVED that the City Council does hereby
approve the recommended fund reallocations and ratifies the attached amended
appropriations as set forth in Exhibit A.
PASSED AND ADOPTED at a special meeting of the City Council of the City of
Cupertino this 21st day of February 2024, by the following vote:
Members of the City Council
AYES:
NOES:
ABSENT:
ABSTAIN:
169
CC 02-21-2024
169 of 456
Resolution No. __________________
Page 2
SIGNED:
________
Sheila Mohan, Mayor
City of Cupertino
________________________
Date
ATTEST:
________
Kirsten Squarcia, City Clerk
________________________
Date
170
CC 02-21-2024
170 of 456
Exhibit A
Appropriation
Amendment by Fund
Appropriation
Amendment
Revenue
Amendment
Fund
Balance (Use
of)
General Fund $10,057 $807,672 $797,615
Special Revenue Funds $- $- $-
Capital Projects Funds $- $- $-
Enterprise Funds $- $- $-
Internal Service Funds $- $- $-
Total Appropriation
Amendment All Funds $10,057 $807,672 $797,615
171
CC 02-21-2024
171 of 456
Detailed Budget Carryovers, Council-approved Adjustments, and Encumbrance Carryovers
as of December 31, 2023
Attachment C
Budget Adjustment Type Fund Description Amount
BUDGET CARRYOVERS
Budget Carryover 100 General Fund $14,000 for media training $5,400 for City logo revamp 19,400
Budget Carryover 100 General Fund $80,000 for community survey 80,000
Budget Carryover 100 General Fund 4H Fence replacement 30,000
Budget Carryover 100 General Fund 4H roof/gutter, Milk Barn repainting 36,347
Budget Carryover 100 General Fund AC2 Traffic Monitoring 77,340
Budget Carryover 100 General Fund Adaptive Traffic Signaling - Projects in progress 5,970
Budget Carryover 100 General Fund ad-hoc Council meeting expenses 11,425
Budget Carryover 100 General Fund AV Social Room,Sports Center,Cupertino Room 33,571
Budget Carryover 100 General Fund Backflow Prevention Device Repl - on backorder 4,000
Budget Carryover 100 General Fund Backwater valve replacement - project in progress 13,596
Budget Carryover 100 General Fund Bench replacements 29,442
Budget Carryover 100 General Fund Bridge tread repair McClellan 70,000
Budget Carryover 100 General Fund CAP Vision Summary Doc 10,000
Budget Carryover 100 General Fund CAPIO conference (2 people)2,400
Budget Carryover 100 General Fund City Facility reconfiguration/remodels/return to work 127,404
Budget Carryover 100 General Fund City Work Plan for Homeless Jobs Program - ongoing 40,040
Budget Carryover 100 General Fund Commission meeting meals per council policy 1,750
Budget Carryover 100 General Fund Conf room carpet replacement - project in progress 25,000
Budget Carryover 100 General Fund Council phone service 3,000
Budget Carryover 100 General Fund Crowe successor auditor prep and reproduction 700
Budget Carryover 100 General Fund CSTI and Bay Area UASI 24,600
Budget Carryover 100 General Fund CWP Electrification Study 50,000
Budget Carryover 100 General Fund CWP Revisit 5G 250,000
Budget Carryover 100 General Fund Deferred education due to Covid school closures 60,700
Budget Carryover 100 General Fund Deferred training due to Covid 9,913
Budget Carryover 100 General Fund Don Burnett Bridge inspection/median repairs 161,553
Budget Carryover 100 General Fund Dry rot maint retreat center - project in progress 25,000
Budget Carryover 100 General Fund Economic Development Strategy 20,000
Budget Carryover 100 General Fund Electric Cooking 6,400
Budget Carryover 100 General Fund Emergency preparedness outreach materials 2,500
Budget Carryover 100 General Fund Employee Commute Program 2,586
Budget Carryover 100 General Fund Energy Mgmt System Upgrades - project in progress 105,675
Budget Carryover 100 General Fund EOC System Electrical Upgrades - project in progress 25,000
Budget Carryover 100 General Fund ERP evaluation training and webinar workshops 16,896
Budget Carryover 100 General Fund ERP Implementation. Adjunct Staffing 720,673
Budget Carryover 100 General Fund Fee Study special project ongoing 70,800
Budget Carryover 100 General Fund Fence replacementMR in parking lot and path repairs 13,483
Budget Carryover 100 General Fund General Plan special project - ongoing 239,805
Budget Carryover 100 General Fund General supply purchases - supply chain delay 11,641
Budget Carryover 100 General Fund Glass replacement - project in progress 20,183
172
CC 02-21-2024
172 of 456
Detailed Budget Carryovers, Council-approved Adjustments, and Encumbrance Carryovers
as of December 31, 2023
Attachment C
Budget Adjustment Type Fund Description Amount
Budget Carryover 100 General Fund Grassroots Ecology contract 23,240
Budget Carryover 100 General Fund Greenhouse Gas emission, Climate Corps fellow 27,000
Budget Carryover 100 General Fund Homeland Security Conf,CESA, Naval Postgrad School APEX 3,240
Budget Carryover 100 General Fund Housing Element Update - ongoing 108,189
Budget Carryover 100 General Fund I-280 Wolfe Improvement - project in progress 800,199
Budget Carryover 100 General Fund Irrigation Controller Settlement 103,785
Budget Carryover 100 General Fund Library HVAC ventilation maint & repair 42,800
Budget Carryover 100 General Fund Marina application under review - ongoing 23,317
Budget Carryover 100 General Fund M-Group contract 50,000
Budget Carryover 100 General Fund Moss Adams Enterprise Leadership Study 10,175
Budget Carryover 100 General Fund MRC Rise 6,323
Budget Carryover 100 General Fund Muni Code update - ongoing 25,000
Budget Carryover 100 General Fund new PT Business Systems Analyst position 45,162
Budget Carryover 100 General Fund New staff ergo evals and office equipment 3,028
Budget Carryover 100 General Fund New staff memberships and dues 3,830
Budget Carryover 100 General Fund New staff,deferred training due to pandemic 3,411
Budget Carryover 100 General Fund New staff; defered training due to pandemic 9,171
Budget Carryover 100 General Fund New staff; deferred training due to pandemic 15,116
Budget Carryover 100 General Fund Performance Management App HR portal of ERP 32,000
Budget Carryover 100 General Fund Playground chip - purchase/work in progress 17,824
Budget Carryover 100 General Fund Portal Park concrete replacement 25,000
Budget Carryover 100 General Fund PR Strategy contract being finalized in FY24.15,000
Budget Carryover 100 General Fund PR Strategy special project 160,000
Budget Carryover 100 General Fund purchase reusable banners for SCB 7,975
Budget Carryover 100 General Fund PW Scanning - Project in progress 28,226
Budget Carryover 100 General Fund Redesign of City Website. Adjunct Staffing 104,396
Budget Carryover 100 General Fund Regional Emergency Operations 500,000
Budget Carryover 100 General Fund Residential Mixed Used - ongoing 48,999
Budget Carryover 100 General Fund SC Corridor Vision Study - Work Plan Item 154,079
Budget Carryover 100 General Fund Senior Strategy CWP item is ongoing 41,378
Budget Carryover 100 General Fund Service Center Security project in progress 5,388
Budget Carryover 100 General Fund Shade structure replacement 65,630
Budget Carryover 100 General Fund Small to Medium Business Resiliency 500,000
Budget Carryover 100 General Fund Solar Battery Chargers for potential generator replacements 8,400
Budget Carryover 100 General Fund Special project - CWP Bicycle facilities 50,000
Budget Carryover 100 General Fund Special Projects LOS to VMT Standards 130,000
Budget Carryover 100 General Fund Special ProjectsMunicipal Water System 22,677
Budget Carryover 100 General Fund Staff augmentation delayed recruitement-Torres Engineering 82,806
Budget Carryover 100 General Fund Stay Active Fund used for Senior members 40,888
Budget Carryover 100 General Fund Sustainable Infrastructure Audit 10,000
Budget Carryover 100 General Fund The Hamptons developer agreement expires 2025 108,640
173
CC 02-21-2024
173 of 456
Detailed Budget Carryovers, Council-approved Adjustments, and Encumbrance Carryovers
as of December 31, 2023
Attachment C
Budget Adjustment Type Fund Description Amount
Budget Carryover 100 General Fund Tree and concrete work in progress 6,657
Budget Carryover 100 General Fund Trees and Badges - projects in progress 1,263
Budget Carryover 100 General Fund Trench work - special project in progress 40,000
Budget Carryover 100 General Fund Turf supplies not received until FY24 35,512
Budget Carryover 100 General Fund Vallco Town Center - ongoing 188,680
Budget Carryover 100 General Fund Vallco Town Center building inspections - ongoing 5,406,634
Budget Carryover 100 General Fund Vallco Town Center plan review - ongoing 13,500,000
Budget Carryover 100 General Fund VIA Community Shuttle Pilot Program Work Plan Item 10,574
Budget Carryover 100 General Fund VTA CMP Member Agency Fees; invoice pending 73,374
Budget Carryover 100 General Fund VTC-Project in progress 766,777
Budget Carryover 100 General Fund Zoom Room Improvements 40,316
TOTAL GENERAL FUND 25,990,872
Budget Carryover 210 Storm Drain Improvement Pumpkin/Fiesta Storm Drain Ph 1 & 2 249,346
Budget Carryover 230 Env Mgmt Cln Crk Strm Drain New staff; defered training due to pandemic 3,077
Budget Carryover 230 Env Mgmt Cln Crk Strm Drain Outfall repairs-unpurchased compost,recology payment 133,791
Budget Carryover 230 Env Mgmt Cln Crk Strm Drain Outstanding payment for school busing,APN fee audit 39,328
Budget Carryover 265 BMR Housing City Work plan for low income 234,722
Budget Carryover 265 BMR Housing City Work Plan for Support for Unhoused - ongoing 50,000
Budget Carryover 270 Transportation Fund 1 additional gateway sign 25,859
Budget Carryover 270 Transportation Fund Annual asphalt project-work in progress 3,542,503
Budget Carryover 270 Transportation Fund Annual SW Curb & Gutter project in progress 257,294
Budget Carryover 270 Transportation Fund Bridge Rehab Minor 492,082
Budget Carryover 270 Transportation Fund Homestead/De Anza Signal Upgrade 98,132
Budget Carryover 270 Transportation Fund Orange & Byrne Sidewalk Improvements 399,990
Budget Carryover 270 Transportation Fund Ph 1 & Ph 2 Pavement digouts, crack seal & fog seal 561,043
Budget Carryover 270 Transportation Fund SBI Funds-work scheduled - project in progress 818,959
Budget Carryover 270 Transportation Fund Sidewalk inspections in progress 62,774
Budget Carryover 270 Transportation Fund Sign survey - project in progress 73,491
Budget Carryover 280 Park Dedication Granite Rock PO 2022-540 (74,751)
Budget Carryover 280 Park Dedication Lawrence-Mitty Park 5,940,908
Budget Carryover 280 Park Dedication Memorial Park Pond Repurposing 1,140,478
Budget Carryover 280 Park Dedication MRP Community Garden Improvements 32,900
TOTAL SPECIAL REVENUE FUNDS 14,081,926
Budget Carryover 420 Capital Improvement Fund ADA Improvements, multi-year 120,166
Budget Carryover 420 Capital Improvement Fund BBF Pool Improvements 710,704
Budget Carryover 420 Capital Improvement Fund Bike Plan Implementation 8,649,892
Budget Carryover 420 Capital Improvement Fund California Commercial Fence PO 2021-514 (72,335)
Budget Carryover 420 Capital Improvement Fund Carmen Road Bridge Right-of-Way 72,700
Budget Carryover 420 Capital Improvement Fund City Hall & Community Hall Improvements 454,037
174
CC 02-21-2024
174 of 456
Detailed Budget Carryovers, Council-approved Adjustments, and Encumbrance Carryovers
as of December 31, 2023
Attachment C
Budget Adjustment Type Fund Description Amount
Budget Carryover 420 Capital Improvement Fund City Hall Annex (formerly10455 Torre Ave) Improv 1,901,522
Budget Carryover 420 Capital Improvement Fund City Lighting LED Transition Assessment 1,334,310
Budget Carryover 420 Capital Improvement Fund Citywide Community Garden - project scheduled 34,795
Budget Carryover 420 Capital Improvement Fund CW Bldg Condition Assess Impl 510,787
Budget Carryover 420 Capital Improvement Fund De Anza Blvd Buffered Bike Lanes 524,947
Budget Carryover 420 Capital Improvement Fund EV Parking Expansion - project in progress 208,000
Budget Carryover 420 Capital Improvement Fund Full-size Outdoor Basketball Court 29,493
Budget Carryover 420 Capital Improvement Fund G. Bortolotto PO 2023-204 (2,728)
Budget Carryover 420 Capital Improvement Fund Guerra 3, 2022-11 Wilson Park Basketball Ct (97,225)
Budget Carryover 420 Capital Improvement Fund Guerra Construction Group PO 2023-367 (18,086)
Budget Carryover 420 Capital Improvement Fund Inclusive Play Area Planning 4,315,954
Budget Carryover 420 Capital Improvement Fund Library Expansion - project in progress 396,144
Budget Carryover 420 Capital Improvement Fund Mary Ave Protected Bikeway 49,000
Budget Carryover 420 Capital Improvement Fund McClellan Ranch Parking Lot Impro enviro monitoring 59,037
Budget Carryover 420 Capital Improvement Fund Memorial Park Specific Plan - project in progress 134,274
Budget Carryover 420 Capital Improvement Fund MR Community Garden Improv 1,099
Budget Carryover 420 Capital Improvement Fund Playground Equipment (Creekside & Varian)602,810
Budget Carryover 420 Capital Improvement Fund Pub Bldg Solar Service Center 18,571
Budget Carryover 420 Capital Improvement Fund Regnart Road Improvements 736,500
Budget Carryover 420 Capital Improvement Fund SCB/Bandley Signal & Median Imps (PM-Stillman)142,208
Budget Carryover 420 Capital Improvement Fund School Walk Audit Implementation 939,405
Budget Carryover 420 Capital Improvement Fund SLTG/280 Ped Bridge Lighting - (dev in lieu)46,449
Budget Carryover 420 Capital Improvement Fund St Light Install - Annual Infill - multi-year 74,838
Budget Carryover 420 Capital Improvement Fund St Light Replacement CW (labor) (PM-Alexander)99,330
Budget Carryover 420 Capital Improvement Fund Stelling/Alves Crosswalk Install 54,039
Budget Carryover 420 Capital Improvement Fund Stevens Crk Bank Repair Concept 30,216
Budget Carryover 420 Capital Improvement Fund Tree Inventory Stevens Creek Corridor 10,840
Budget Carryover 420 Capital Improvement Fund TYMAN Construction PO 2023-374 (9,537)
Budget Carryover 420 Capital Improvement Fund Various Park Amenities - project in progress 471,221
TOTAL CAPITAL PROJECT FUNDS 22,533,377
Budget Carryover 520 Resource Recovery Calrecyle billing cycle delay 15,216
Budget Carryover 520 Resource Recovery New Landfill Agreement/Solid Waste 223,859
Budget Carryover 520 Resource Recovery SB1383 Procurement Requirements 44,640
Budget Carryover 520 Resource Recovery Single use Plastics Special project 3,986
Budget Carryover 560 Blackberry Farm BBF Golf Course recent fence repair 5,000
Budget Carryover 560 Blackberry Farm BBF Golf Renovation/Alt Use 270
Budget Carryover 570 Sports Center Door refinishing - project in progress 10,775
Budget Carryover 570 Sports Center HVAC Maint & Repair Special Projects in progress 23,705
Budget Carryover 570 Sports Center replacement windscreens for the Tennis Courts 72,853
Budget Carryover 570 Sports Center Sport Center Community Needs Analysis 25,000
175
CC 02-21-2024
175 of 456
Detailed Budget Carryovers, Council-approved Adjustments, and Encumbrance Carryovers
as of December 31, 2023
Attachment C
Budget Adjustment Type Fund Description Amount
Budget Carryover 570 Sports Center Unforeseen purchase of umbrellas for Sports Center 1,700
Budget Carryover 580 Recreation Program Quinlan Sustainable Infrastructure 181,329
TOTAL ENTERPRISE FUNDS 608,333
Budget Carryover 610 Innovation & Technology ActiveNet Additional Readers 6,666
Budget Carryover 610 Innovation & Technology Business Automation platform additional support 30,000
Budget Carryover 610 Innovation & Technology CH Ent Server & Storage Tech Ref 140,000
Budget Carryover 610 Innovation & Technology City Hall Enterprise Server & Storage Tech refresh 275,639
Budget Carryover 610 Innovation & Technology CWP Cybersecurity Public Education 7,500
Budget Carryover 610 Innovation & Technology CWP License Plate Readers 60,000
Budget Carryover 610 Innovation & Technology LaserFiche Scanning 21,550
Budget Carryover 610 Innovation & Technology PT GIS Tech reclassification and transfer of Web Specialist 24,848
Budget Carryover 610 Innovation & Technology Security Framework and Audit 60,000
Budget Carryover 610 Innovation & Technology Senior Center Access Controls 16,000
Budget Carryover 610 Innovation & Technology Special Project Additional Telematic Devices 5,300
Budget Carryover 610 Innovation & Technology Special Project Facility Battery 40,037
Budget Carryover 610 Innovation & Technology upgrade to SaaS solution 30,000
Budget Carryover 630 Vehicle/Equip Replacement Equipment/vehicle purchase 46,970
Budget Carryover 630 Vehicle/Equip Replacement Sign shop roof repair - project in progress 56,182
TOTAL INTERNAL SERVICE FUNDS 820,692
TOTAL BUDGET CARRYOVERS 64,035,200
176
CC 02-21-2024
176 of 456
Detailed Budget Carryovers, Council-approved Adjustments, and Encumbrance Carryovers
as of December 31, 2023
Attachment C
Budget Adjustment Type Fund Description Amount
COUNCIL ACTIONS
Council Action 100 General Fund SVCE Community Resilience Grant for EV Chargers 233,963
TOTAL GENERAL FUND 233,963
Council Action 260 CDBG CDBG fund transfer to BCA CIP Project Snr Cntr Fire Alarm 367,951
Council Action 270 Transportation Fund CC approved budget transfer for McClellan Rd. Bike Corridor Ph 3 948,552
TOTAL SPECIAL REVENUE FUNDS 1,316,503
Council Action 420 Capital Improvement Fund CDBG fund transfer to BCA CIP Project Snr Cntr Fire Alarm 367,951
Council Action 420 Capital Improvement Fund Council-approved BA-SCB Calabazas Emergency Storm Drain Repair 460,000
Council Action 420 Capital Improvement Fund CC-approved budget adjustment for Cristo Rey Bike Lanes Project 30,000
Council Action 420 Capital Improvement Fund CC-approved budget adjustment for Regnart Rd Improv Project 876,766
Council Action 429 Capital Reserve Council-approved BA-SCB Calabazas Emergency Storm Drain Repair 460,000
Council Action 429 Capital Reserve CC-approved budget adjustment for Cristo Rey Bike Lanes Project 15,000
Council Action 429 Capital Reserve CC-approved budget adjustment for Regnart Rd Improv Project 876,766
TOTAL CAPITAL PROJECT FUNDS 3,086,483
TOTAL COUNCIL ACTIONS 4,636,949
177
CC 02-21-2024
177 of 456
Detailed Budget Carryovers, Council-approved Adjustments, and Encumbrance Carryovers
as of December 31, 2023
Attachment C
Budget Adjustment Type Fund Description Amount
FIRST QUARTER ADJUSTMENTS
First Quarter Adjustment 100 General Fund 4H Rack Room Building Damage 2,500
First Quarter Adjustment 100 General Fund CA Volunteer N2N Grant 64,405
First Quarter Adjustment 100 General Fund Ceramic Room A/C Unit Repair 3,631
First Quarter Adjustment 100 General Fund Compressor Repair 14,636
First Quarter Adjustment 100 General Fund Emergency Management Performance Grant 8,000
First Quarter Adjustment 100 General Fund Fire Sprinkler Repair 2,401
First Quarter Adjustment 100 General Fund IMPEC Additional Janitorial Services 29,118
First Quarter Adjustment 100 General Fund Transfer fr I&T Fund for Senior Center Access Controls 16,000
First Quarter Adjustment 100 General Fund Transfer from F520 for ClimateNav Hub funds 20,000
First Quarter Adjustment 100 General Fund Transfer from I&T Fund for License Plate Readers 60,000
First Quarter Adjustment 100 General Fund Unforeseen Breaker Repair 7,882
First Quarter Adjustment 100 General Fund Unforeseen Generator Repair 14,574
First Quarter Adjustment 100 General Fund Unforeseen HVAC Repair 10,858
First Quarter Adjustment 100 General Fund Unforeseen Panel Replacement 8,831
TOTAL GENERAL FUND 262,836
First Quarter Adjustment 230 Env Mgmt Cln Crk Strm Drain Defund Permeable Pavement Rebate (12,500)
First Quarter Adjustment 270 Transportation Fund Transfer from CIP for Street Sign damage at Wilson Park 467
TOTAL SPECIAL REVENUE FUNDS (12,033)
First Quarter Adjustment 420 Capital Improvement Fund Transfer from CIP for Street Sign damage at Wilson Park 467
TOTAL CAPITAL PROJECT FUNDS 467
First Quarter Adjustment 560 Blackberry Farm Tree Maintenance 55,000
First Quarter Adjustment 560 Blackberry Farm Utilities Adjustment 77,000
TOTAL ENTERPRISE FUNDS 132,000
First Quarter Adjustment 610 Innovation & Technology Transfer fr Gen Fund for Municipal Code Publishing 7,684
First Quarter Adjustment 610 Innovation & Technology Transfer from Gen Fund for LaserFiche Conference 2,500
First Quarter Adjustment 610 Innovation & Technology Transfer from Gen Fund for LaserFiche Consultation 15,900
First Quarter Adjustment 610 Innovation & Technology Transfer from Gen Fund for LaserFiche Subscription 45,000
First Quarter Adjustment 610 Innovation & Technology Transfer from Gen Fund for NexSan WORM Device 10,600
First Quarter Adjustment 610 Innovation & Technology Transfer from General Fund for Salaries Part Time 56,000
First Quarter Adjustment 630 Vehicle/Equip Replacement Install Wood Chipper Safety Shields 19,187
TOTAL INTERNAL SERVICE FUNDS 156,871
TOTAL FIRST QUARTER ADJUSTMENTS 540,141
178
CC 02-21-2024
178 of 456
Detailed Budget Carryovers, Council-approved Adjustments, and Encumbrance Carryovers
as of December 31, 2023
Attachment C
Budget Adjustment Type Fund Description Amount
ENCUMBRANCE CARRYOVERS
Encumbrance Carryover 100 General Fund Year End Soft Close 9,723,884
TOTAL GENERAL FUND 9,723,884
Encumbrance Carryover 210 Storm Drain Improvement Year End Soft Close 1,566,693
Encumbrance Carryover 230 Env Mgmt Cln Crk Strm Drain Year End Soft Close 296,053
Encumbrance Carryover 260 CDBG Year End Soft Close 6,637
Encumbrance Carryover 265 BMR Housing Year End Soft Close 3,666
Encumbrance Carryover 270 Transportation Fund Year End Soft Close 1,998,991
Encumbrance Carryover 280 Park Dedication Year End Soft Close 229,394
TOTAL SPECIAL REVENUE FUNDS 4,101,434
Encumbrance Carryover 420 Capital Improvement Fund Year End Soft Close 1,994,887
Encumbrance Carryover 427 Stevens Creek Corridor Park Year End Soft Close 7,848
TOTAL CAPITAL PROJECT FUNDS 2,002,735
Encumbrance Carryover 520 Resource Recovery Year End Soft Close 284,540
Encumbrance Carryover 560 Blackberry Farm Year End Soft Close 5,858
Encumbrance Carryover 570 Sports Center Year End Soft Close 7,925
TOTAL ENTERPRISE FUNDS 298,323
Encumbrance Carryover 610 Innovation & Technology Year End Soft Close 239,797
Encumbrance Carryover 630 Vehicle/Equip Replacement Year End Soft Close 761,591
TOTAL INTERNAL SERVICE FUNDS 1,001,388
TOTAL ENCUMBRANCE CARRYOVERS 17,127,764
BUDGET CARRYOVER, COUNCIL APPROVED ADJUSTMENT, AND ENCUMBRANCE CARRYOVER TOTAL 86,340,054
FY 2023-24 ADOPTED BUDGET 121,765,857
FY 2023-24 AMENDED BUDGET AS DECEMBER 31, 2023 208,105,911$
179
CC 02-21-2024
179 of 456
Budget Transfers as of December 31, 2023 Attachment D
GL Account Description Amount
100-32-308 700-702 - Contract Services General Service Agreement Contract Services Base Budget line item transfer 15,000
100-32-308 700-703 - Contract Services Maintenance of Equipment Contract Services Base Budget line item transfer (15,000)
-
270-85-821 900-921 - Capital Outlay Annual Asphalt Project Transfer Budget from Capital Outlay to SB1 Line Item (616,739)
270-85-821 900-971 - Capital Outlay SB1 Roads Transfer Budget from Capital Outlay to SB1 Line Item 616,739
-
270-85-821 700-702 - Contract Services General Service Agreement Transfer Budget from Contract Service to Capital Outlay (559,000)
270-85-821 900-921 - Capital Outlay Annual Asphalt Project Transfer Budget from Contract Service to Capital Outlay 559,000
-
100-12-122 500-501 - Employee Compensation Salaries Full Time 2324-310 Sustainability Transfer to PW (285,228)
100-12-122 500-502 - Employee Compensation Salaries Part Time 2324-310 Sustainability Transfer to PW (29,853)
100-12-122 501-500 - Employee Benefits Retirement System 2324-310 Sustainability Transfer to PW (89,111)
100-12-122 501-501 - Employee Benefits PT Medicare 2324-310 Sustainability Transfer to PW (421)
100-12-122 501-502 - Employee Benefits Pers 1959 Surv Empr 2324-310 Sustainability Transfer to PW (52)
100-12-122 501-505 - Employee Benefits Health Insurance 2324-310 Sustainability Transfer to PW (35,910)
100-12-122 501-506 - Employee Benefits Dental Insurance 2324-310 Sustainability Transfer to PW (2,738)
100-12-122 501-507 - Employee Benefits Medicare 2324-310 Sustainability Transfer to PW (4,136)
100-12-122 501-508 - Employee Benefits Life Insurance 2324-310 Sustainability Transfer to PW (1,296)
100-12-122 501-509 - Employee Benefits Long Term Disability 2324-310 Sustainability Transfer to PW (1,164)
100-12-122 501-511 - Employee Benefits Vision Insurance 2324-310 Sustainability Transfer to PW (323)
100-12-122 501-513 - Employee Benefits Rec Bucks 2324-310 Sustainability Transfer to PW (900)
100-12-122 501-519 - Employee Benefits PT PARS 2324-310 Sustainability Transfer to PW (378)
100-12-122 600-601 - Materials General Office Supplies 2324-310 Sustainability Transfer to PW (1,328)
100-12-122 600-602 - Materials Printing and Duplication 2324-310 Sustainability Transfer to PW (4,482)
100-12-122 600-605 - Materials Meeting Expenses 2324-310 Sustainability Transfer to PW (1,779)
100-12-122 600-608 - Materials Sml Tools and Equipment 2324-310 Sustainability Transfer to PW (750)
100-12-122 600-613 - Materials General Supplies 2324-310 Sustainability Transfer to PW (1,220)
100-12-122 600-629 - Materials Conference and Training 2324-310 Sustainability Transfer to PW (3,460)
100-12-122 600-632 - Materials Mileage Reimbursement 2324-310 Sustainability Transfer to PW (528)
100-12-122 600-647 - Materials Memberships and Dues 2324-310 Sustainability Transfer to PW (6,819)
100-12-122 700-702 - Contract Services General Service Agreement 2324-310 Sustainability Transfer to PW (275,344)
100-12-122 700-704 - Contract Services Insurance Fees, Claims, Premiums 2324-310 Sustainability Transfer to PW (1,400)
100-12-122 719-705 - Contingencies Contingencies 2324-310 Sustainability Transfer to PW (915)
100-12-122 750-018 - Special Projects Climate Action Plan 2324-310 Sustainability Transfer to PW (1,236)
100-12-122 750-019 - Special Projects Employee Commute Program 2324-310 Sustainability Transfer to PW (2,586)
100-12-122 750-069 - Special Projects Sustainable Infrastructure Audit 2324-310 Sustainability Transfer to PW (10,000)
100-12-122 750-106 - Special Projects Electric Cooking Workshop Series 2324-310 Sustainability Transfer to PW (6,400)
180
CC 02-21-2024
180 of 456
Budget Transfers as of December 31, 2023 Attachment D
100-12-122 750-176 - Special Projects Climate AP Vision Summary Doc 2324-310 Sustainability Transfer to PW (10,000)
100-12-122 750-223 - Special Projects CWP Electrification Study 2324-310 Sustainability Transfer to PW (50,000)
100-12-122 800-801 - Cost Allocation Equipment Reimbursement 2324-310 Sustainability Transfer to PW (142)
100-12-122 800-802 - Cost Allocation IT Reimbursement 2324-310 Sustainability Transfer to PW (60,777)
100-12-122 800-805 - Cost Allocation CC CAP Allocation 2324-310 Sustainability Transfer to PW (10,947)
100-12-122 800-806 - Cost Allocation CM CAP Allocation 2324-310 Sustainability Transfer to PW (4,617)
100-12-122 800-810 - Cost Allocation City Attorney CAP Alloc 2324-310 Sustainability Transfer to PW (48,360)
100-12-122 800-814 - Cost Allocation Finance CAP Alloc 2324-310 Sustainability Transfer to PW (30,811)
100-12-122 800-815 - Cost Allocation Human resources CAP Alloc 2324-310 Sustainability Transfer to PW (15,880)
100-12-122 800-820 - Cost Allocation Grounds Maintenance CAP 2324-310 Sustainability Transfer to PW (648)
100-12-122 800-821 - Cost Allocation Building Maintenance CAP 2324-310 Sustainability Transfer to PW (6,214)
100-81-122 500-501 - Employee Compensation Salaries Full Time 2324-310 Sustainability Transfer to PW 285,228
100-81-122 500-502 - Employee Compensation Salaries Part Time 2324-310 Sustainability Transfer to PW 29,853
100-81-122 501-500 - Employee Benefits Retirement System 2324-310 Sustainability Transfer to PW 89,111
100-81-122 501-501 - Employee Benefits PT Medicare 2324-310 Sustainability Transfer to PW 421
100-81-122 501-502 - Employee Benefits Pers 1959 Surv Empr 2324-310 Sustainability Transfer to PW 52
100-81-122 501-505 - Employee Benefits Health Insurance 2324-310 Sustainability Transfer to PW 35,910
100-81-122 501-506 - Employee Benefits Dental Insurance 2324-310 Sustainability Transfer to PW 2,738
100-81-122 501-507 - Employee Benefits Medicare 2324-310 Sustainability Transfer to PW 4,136
100-81-122 501-508 - Employee Benefits Life Insurance 2324-310 Sustainability Transfer to PW 1,296
100-81-122 501-509 - Employee Benefits Long Term Disability 2324-310 Sustainability Transfer to PW 1,164
100-81-122 501-511 - Employee Benefits Vision Insurance 2324-310 Sustainability Transfer to PW 323
100-81-122 501-513 - Employee Benefits Rec Bucks 2324-310 Sustainability Transfer to PW 900
100-81-122 501-519 - Employee Benefits PT PARS 2324-310 Sustainability Transfer to PW 378
100-81-122 600-601 - Materials General Office Supplies 2324-310 Sustainability Transfer to PW 1,328
100-81-122 600-602 - Materials Printing and Duplication 2324-310 Sustainability Transfer to PW 4,482
100-81-122 600-605 - Materials Meeting Expenses 2324-310 Sustainability Transfer to PW 1,779
100-81-122 600-608 - Materials Sml Tools and Equipment 2324-310 Sustainability Transfer to PW 750
100-81-122 600-613 - Materials General Supplies 2324-310 Sustainability Transfer to PW 1,220
100-81-122 600-629 - Materials Conference and Training 2324-310 Sustainability Transfer to PW 3,460
100-81-122 600-632 - Materials Mileage Reimbursement 2324-310 Sustainability Transfer to PW 528
100-81-122 600-647 - Materials Memberships and Dues 2324-310 Sustainability Transfer to PW 6,819
100-81-122 700-702 - Contract Services General Service Agreement 2324-310 Sustainability Transfer to PW 275,344
100-81-122 700-704 - Contract Services Insurance Fees, Claims, Premiums 2324-310 Sustainability Transfer to PW 1,400
100-81-122 719-705 - Contingencies Contingencies 2324-310 Sustainability Transfer to PW 915
100-81-122 750-018 - Special Projects Climate Action Plan 2324-310 Sustainability Transfer to PW 1,236
100-81-122 750-019 - Special Projects Employee Commute Program 2324-310 Sustainability Transfer to PW 2,586
100-81-122 750-069 - Special Projects Sustainable Infrastructure Audit 2324-310 Sustainability Transfer to PW 10,000
181
CC 02-21-2024
181 of 456
Budget Transfers as of December 31, 2023 Attachment D
100-81-122 750-106 - Special Projects Electric Cooking Workshop Series 2324-310 Sustainability Transfer to PW 6,400
100-81-122 750-176 - Special Projects Climate AP Vision Summary Doc 2324-310 Sustainability Transfer to PW 10,000
100-81-122 750-223 - Special Projects CWP Electrification Study 2324-310 Sustainability Transfer to PW 50,000
100-81-122 800-801 - Cost Allocation Equipment Reimbursement 2324-310 Sustainability Transfer to PW 142
100-81-122 800-802 - Cost Allocation IT Reimbursement 2324-310 Sustainability Transfer to PW 60,777
100-81-122 800-805 - Cost Allocation CC CAP Allocation 2324-310 Sustainability Transfer to PW 10,947
100-81-122 800-806 - Cost Allocation CM CAP Allocation 2324-310 Sustainability Transfer to PW 4,617
100-81-122 800-810 - Cost Allocation City Attorney CAP Alloc 2324-310 Sustainability Transfer to PW 48,360
100-81-122 800-814 - Cost Allocation Finance CAP Alloc 2324-310 Sustainability Transfer to PW 30,811
100-81-122 800-815 - Cost Allocation Human resources CAP Alloc 2324-310 Sustainability Transfer to PW 15,880
100-81-122 800-820 - Cost Allocation Grounds Maintenance CAP 2324-310 Sustainability Transfer to PW 648
100-81-122 800-821 - Cost Allocation Building Maintenance CAP 2324-310 Sustainability Transfer to PW 6,214
-
610-34-310 600-608 - Materials Sml Tools and Equipment FY23 Budget Carryover transfer for Data Ctr. Special Project 77,460
610-34-310 600-608 - Materials Sml Tools and Equipment FY23 Budget Carryover transfer for Data Ctr. Special Project 41,077
610-34-310 700-701 - Contract Services Training and Instruction FY23 Budget Carryover transfer for Data Ctr. Special Project (22,173)
610-34-310 700-702 - Contract Services General Service Agreement FY23 Budget Carryover transfer for Data Ctr. Special Project (55,287)
610-34-310 700-703 - Contract Services Maintenance of Equipment FY23 Budget Carryover transfer for Data Ctr. Special Project (41,077)
-
100-60-601 750-098 - Special Projects CWP Senior Strategy Correcting placement of funds for CWP Sr Svcs & Youth Engagement (20,000)
100-60-601 750-241 - Special Projects Senior Svcs & Youth Engagement Correcting placement of funds for CWP Sr Svcs & Youth Engagement 20,000
-
100-88-844 750-040 - Special Projects Planned Transportation Project Transferring from incorrect GL - I-280 Wolfe Project (800,000)
100-88-844 900-964 - Capital Outlay I-280/Wolfe Rd Interchange Imprv Transferring from incorrect GL - I-280 Wolfe Project 800,000
-
560-84-268 600-643 - Materials Water Services Transfer budget from BBF Golf Course Facilities to Grounds 39,289
560-87-260 600-643 - Materials Water Services Transfer budget from BBF Golf Course Facilities to Grounds (39,289)
-
100-12-120 750-239 - Special Projects PR & Strategic Comm Strategy 2324-317 Transfer for PR and Strategic Communications Strategy 15,000
100-12-705 750-230 - Special Projects Business Continuity Resilience 2324-317 Transfer for PR and Strategic Communications Strategy (15,000)
-
610-34-310 500-502 - Employee Compensation Salaries Part Time Transfer - unfilled Intern III position to fund Intern Contract (26,069)
610-34-310 700-702 - Contract Services General Service Agreement Transfer - unfilled Intern III position to fund Intern Contract 26,069
-
100-12-126 600-602 - Materials Printing and Duplication 2324-319 Transfer -Voler 2023 Media Training re Budget Messaging (21,000)
100-12-126 700-702 - Contract Services General Service Agreement 2324-319 Transfer -Voler 2023 Media Training re Budget Messaging 42,000
100-14-123 719-705 - Contingencies Contingencies 2324-319 Transfer -Voler 2023 Media Training re Budget Messaging (21,000)
-
182
CC 02-21-2024
182 of 456
Budget Transfers as of December 31, 2023 Attachment D
100-41-405 700-702 - Contract Services General Service Agreement CWP Analyze potential revenue measures (42,450)
100-41-426 750-217 - Special Projects CWP Analyze Potential Rev Measrs CWP Analyze potential revenue measures 42,450
-
100-31-305 500-502 - Employee Compensation Salaries Part Time De Anza Intern Agreement funding (120,088)
100-31-305 700-702 - Contract Services General Service Agreement De Anza Intern Agreement funding 120,088
-
100-32-308 500-502 - Employee Compensation Salaries Part Time De Anza Student Intern Agreement funding (13,843)
100-32-308 700-702 - Contract Services General Service Agreement De Anza Student Intern Agreement funding 13,843
TOTAL -
183
CC 02-21-2024
183 of 456
FY 2023-24 Mid-Year Recommended Adjustments Attachment E
Fund GL Account Revenue Expenditure Change in Fund Balance Proposal
GENERAL FUND
100 General Fund 100-12-632-410-432 795,258 - 795,258 Utility User Tax Revenue Adjustment
100 General Fund 100-63-623-450-404 12,414 - 12,414 Hidden Treasures Proceeds
101 General Fund 100-62-623-600-639 - 10,057 (10,057) Hidden Treasures Proceeds
TOTAL GENERAL FUND 807,672 10,057 807,672
TOTAL ALL FUNDS $ 807,672 $ 10,057 $ 807,672
184
CC 02-21-2024
184 of 456
City of Cupertino
FY 23‐24 Budget Performance Measures
Department: Administrative Services
Finance
Goal: Financial Stability ‐ Provide a sustainable level of core services that are funded from
ongoing and stable revenue sources.
So that…Measure
FY22
Jul‐Jun
FY23
Jul‐Jun
FY24
Jul‐Dec
Ongoing
Target
General Fund committed, assigned,
and unassigned fund balance as a %
of budgeted appropriations
86% 122% 97% 35%
Credit Rating AA+ AA+ AA+ AA+
Actual expenditures (% below budget)9% 14% 24% 5%
So that…
Citizens can enjoy high quality services that meet community priorities.
Human Resources
Goal: To create a thriving organization with meaningful careers in public service.
So that…
Measure
FY22
Jul‐Jun
FY23
Jul‐Jun
FY24
Jul‐Dec
Ongoing
Target
# of Worker’s Compensation Cases 11 4 1 0
Total recordable Injury Rate YTD 4.3% 1.4% 0.3% 0%
% absenteeism
(% of total annual work hours)2% 3% 3% 2%
% turnover rate 9% 9% 3% 1%
% Employee participation in wellness
activities 48% 38% 39% 75%
Average # of applications received per
recruitment 49 45 49 50
Recruitment timeline ‐ # days from
hiring request to offer letter 88 105 53 60
So that…
Citizens can enjoy high quality services that meet community priorities.
Actual revenue vs. budget (% below
budget)24%17% 28% 10%
Funding allocated to high priority
services (Public Works, Community
Development, Law Enforcement)
52% 58% 72% 63%
The City is
financially
responsible.
The City can
invest in
Community
priorities.
The City can
ensure a safe
working
environment for
all employees
The City attracts
and retains a
talented
workforce
The agency
builds a flexible
and productive
work
arrangement.
185
CC 02-21-2024
185 of 456
City of Cupertino
FY 23‐24 Budget Workload Indicators
Department: Administrative Services
Finance
Workload Indicator
FY22
Jul‐Jun
FY23
Jul‐Jun
FY24 Jul‐
Dec
# of vendor checks processed 4,993 5,130 2,199
# of payroll checks processed 8,119 9,176 4,758
# of business license applications 884 969 515
# of business license renewals 1,521 2,176 1,005
# of journal entries posted 3,635 3,695 1,743
# of purchase orders approved 563 543 307
# of receipts processed 9,353 11,275 4,885
Human Resources
Workload Indicator
FY22
Jul‐Jun
FY23
Jul‐Jun
FY24
Jul‐Dec
# of regular recruitments 33 29 11
# of regular new hires 38 31 9
# of temporary new hires 77 70 14
# of personnel payroll changes 787 773 331
# of full‐time employee exits
processed 24 22 12
# of mandated training classes
offered* 20 19 21
# of employees participating in the
wellness program 104 161 99
*some trainings mandated every other year, however not on the same annual schedule
186
CC 02-21-2024
186 of 456
City of Cupertino
FY 23‐24 Budget Performance Measures
Department: Community Development Department
Community Development
Goal: Review and guide development activity to ensure compliance with relevant codes and policies,
and alignment with community values to promote and enhance Cupertinoʹs community‐wide quality
of life.
Enabled by…Measure
FY22
Jul‐Jun
FY23
Jul‐Jun
FY24
Jul‐Dec Ongoing Target
Building permit applications shall be
plan reviewed within 15 business days.
87% 80% 82%80%
Customer/Applicants visiting the
Building Permit Counter shall be
assisted within 15 minutes
83% 90% 92%80%
Applicants visiting the Planning Counter
shall be assisted within 15 minutes 87% 98% 96%50%
Building permit applications
reviewed/issued over‐the‐counter (OTC)
60% 62% 61%75%
Below market rate rental and purchase
vacancies filled 24 20 8 15 per year
Average number of days to initiate
investigation of code complaints 0.19 0.54 0.46 < 7
Code enforcement cases resolved
without issuance of citations 91% 93% 92%80%
Landlord‐tenant counseling and dispute
resolution cases provided 57 25 38 100 per year
Public Outreach Events 215 912 per year
Funds received from Community Block
Grant (CDBG) federal entitlement
program
$412,800 $388,459 $358,910
Comply with
HUDʹs annual
timeliness test
* No data due to closure of city hall.
So that…
In‐person appointment started July 15, 2021, the counters were temporary closed in January 10, 2022 due to
the surge of the COVID‐19 Omicron variant and reopened April 2022.
** Dollar amount from HUD is for the whole fiscal year.
Efficient
planning and
building
services and
enhanced
customer
service.
Effective code
enforcement
services.
Affordable and
Below Market
Rate Housing
programs and
public service
grants.
Cupertino is a thriving City to live, work, learn and play.
187
CC 02-21-2024
187 of 456
City of Cupertino
FY 23‐24 Budget Workload Indicators
Department: Community Development
Planning and Community Development
Workload Indicator
FY22 Jul‐
Jun
FY23 Jul‐
Jun
FY24
Jul‐Dec
Number of preliminary reviews 142 127 21
Number of planning applications
received 301 232 95
Number of planning counter inquiries 217** 1,223 644
Housing Services
Workload Indicator
FY22 Jul‐
Jun
FY23 Jul‐
Jun
FY24
Jul‐Dec
Number of BMR rental and ownership
vacancies filled 24 20 8
Number of landlord tenant counseling
and dispute cases received 57 25 38
Number of annual HUD documents
(CAPER, Action Plan, Consolidated
Plan) completed 22 1
Housing and Human Services Grant
Funds inquiries 910
N/A
(applications are
due 2/6/24)
Building
Workload Indicator
FY22 Jul‐
Jun
FY23 Jul‐
Jun
FY24
Jul‐Dec
Number of permits received 2,380 2,618 1,324
Number of inspections requested 11,906 15,181 8,406
Number of building counter inquiries 406** 2310 1755
* No data due to the Shelter in Place order
** In person appointment started July 15, 2021, the counters were
temporary closed in January 10, 2022 due to the surge of the Omicron
variant of Covid‐19
188
CC 02-21-2024
188 of 456
City of Cupertino
FY 23‐24 Budget Performance Measures
Department: City Managerʹs Office, City Clerk Division
GOAL: Streamline information processing for Council, staff and community members
for compliance with State requirements and facilitate independent and transparent access
to public information.
Enabled by…Measure
FY22
Jul‐Jun
FY23
Jul‐Jun
FY24
Jul‐Dec
Ongoing
Target
City Council minutes for meetings
presented for Council approval by the
following regular meeting
100% 100% 100% 100%
Adopted City Council resolutions and
ordinances processed and scanned to
Laserfiche within a week of Clerk’s
office receipt of final, signed document
12%/0% 85%/60%
26%/
100%100%
Public Record Act requests responded
to by the Statutory deadline date 100% 99% 99% 100%
So that…
All can fully participate in local government to achieve the community & organizational goals.
Online
information
and updated
records that can
be easily
accessed in a
timely manner.
Response to
records
requests to
comply with
State law of 10
days.
189
CC 02-21-2024
189 of 456
City of Cupertino
FY 23‐24 Budget Workload Indicators
Department: Administration, City Clerk Division
City Clerk
Workload Indicator
FY22
Jul‐Jun
FY23
Jul‐Jun
FY23
Jul‐Dec
City Council minutes for regular
meetings presented for Council
approval by the following regular
meeting
21/21 20/20 9/9
Adopted City Council resolutions and
ordinances processed and scanned to
Laserfiche within a week of Clerk’s
office receipt of final, signed
document
17/140;
0/16
136/160;
6/10 18/70; 4/4
Public Record Act requests responded
to by the Statutory deadline date 240/240 271/274 109/110
190
CC 02-21-2024
190 of 456
City of Cupertino
FY 23‐24 Budget Performance Measures
Department: City Managerʹs Office, Economic Development Division
Enabled by…
Measure
FY22
Jul‐Jun
FY23
Jul‐Jun
FY24
Jul‐Dec
Ongoing
Target
Maintain Economic Development
Business Connect Subscribers
3,000 6,000 8,525 8,000
Economic Development Business
Visits, Workshops & Events 3 7 15 20 per year
So that…
GOAL: To actively pursue opportunities in the areas of business attraction, retention, and expansion as a
means of promoting economic vitality, and strengthening the City’s sales tax base to support Cupertino’s
excellent quality of life for its residents, businesses, and daytime population.
Effective
partnerships
and proactive
Economic
Development
programs to
support local
businesses.
Cupertinoʹs economy and sales tax revenue base are diversified to further enhance the Cityʹs financial
stability and its ability to provide quality amenities to the community.
191
CC 02-21-2024
191 of 456
City of Cupertino
FY 23‐24 Budget Workload Indicators
Department: Administration, Economic Development Division
Economic Development
Workload Indicator
FY22
Jul‐Jun
FY23
Jul‐Jun
FY24
Jul‐Dec
Meetings with large groups/organizations; appointments
with brokers, prospective business owners, business owners
and operators, City staff, etc.50 50 20
Special events, including small business workshops and
seminars, ICSC conferences and events, ribbon cuttings and
grand openings, and Small Business Saturday Celebration 774
Number of Business Connect Newsletter editions 431
* This is an estimate based on the best information available
192
CC 02-21-2024
192 of 456
City of Cupertino
FY 23‐24 Budget Performance Measures
Department: Administration, City Managerʹs Office, Office of Communications Division
GOAL: Promote and increase interest and participation in City services, programs,
initiatives, and projects while building community pride and positive identification with the
City among its residents.
Enabled by…Measure
FY22
Jul‐Jun
FY23
Jul‐Jun
FY24
Jul‐Dec
Ongoing
Target
Social media engagement: total number
of followers including City Hall
Nextdoor, Facebook, Twitter, and
Instagram accounts
40,294 41,000 43,011
10%
annual
increase
Social media engagement: average
number of engagements (reactions,
comments, shares, and clicks) per post
on City Hall Facebook account
20.6 31.077 55.94
10%
annual
increase
Cupertino 311: Average response time to
customers organization‐wide (in days):
2.6 Days 2.57 Days 2.49
Days
Average
Close
Time 5
Days
So that…
*Social media engagement metrics seen here are different due to Facebookʹs changes on its metrics, how they calculate it, and what
they provide now. Previously, Facebook would count any action as engagement; now they only count likes/reactions, comments,
link clicks, and shares.
Residents have access to timely, engaging, and important information
Leveraging the
communication
skills,
knowledge, and
experience of
employees while
utilizing existing
and emerging
technologies to
enhance,
improve, and
streamline the
communication
process.
193
CC 02-21-2024
193 of 456
City of Cupertino
FY 23‐24 Budget Workload Indicators
Department: Administration, Office of Communications
Public Affairs
Workload Indicator
FY22
Jul‐Jun
FY23
Jul‐Jun
FY24 Jul‐
Dec
Ongoing
Target
Social Media Engagement: Post per
year (Facebook, Nextdoor, Twitter,
Instagram)1,161 500 432 500
Number of Projects Created on
Engage Cupertino 35 3 1
1‐2 per
year
Number of Community Information
and Outreach Program products
provided (newsletters, press releases,
website news postings)185 150 257 200
194
CC 02-21-2024
194 of 456
City of Cupertino
FY 23‐24 Budget Performance Measures
Department: Innovation & Technology
Innovation & Technology
Goal: Provide superior delivery of information and technology services to city employees and
constituents while continually enhancing levels of engagement.
Enabled by…Measure
FY22
Jul‐Jun
FY23
Jul‐Jun
FY24
Jul‐Dec
Ongoing
Target
GIS: % of time spent Developing
Application 40% 50% 55% 65%
GIS: % of time Maintaining
applications 60% 50% 45% 35%
GIS: Cityworks utilization ‐ # of assets
Cupertino maintains vs # of assets
maintained in Cityworks. Also the %
increase of work units completed
(WOs, INSP,SRs)
45/31 68% 45/31 45/31
45/45
100%
Infrastructure: Percentage based upon
number of scheduled projects/Number
of projects completed on time
89% N/A 50% 100%
Infrastructure: Percentage based upon
number of HelpDesk tickets/SLA
measurements
93% 85.9%91.5%90%
Infrastructure: % Customer
satisfaction based upon Satisfaction
Rate from helpdesk tickets
98.0% 99.6% 95.7%% 85%
Infrastructure: % of network uptime
(not including planned maintenance)99.9% 99.9% 99.9% 99%
Applications: % of citywide‐enterprise
application project management
performed on time and on budget
96% 98.1%% 96% 95%
Applications: Number of website site
visits/Number of site hits 886,899 857,387 438,732
5%
annual
increase
Applications: Number of support
request for the applications support
per month
870 640 330 20
3546/1606 900/600
GIS: Increase Property Information
(Internal/External) site visits per
month
3,344/616 2807/1593
Tools and
services leverage
existing,
emerging and
innovative
technologies to
enhance,
improve, and
streamline
business and
communications
processes
Integrated
information
services enable
customers’
access to the
tools and
information they
need, when and
where they need
it
195
CC 02-21-2024
195 of 456
City of Cupertino
FY 23‐24 Budget Workload Indicators
Department: Innovation Technology
Applications
Workload Indicator
FY22
Jul‐Jun
FY23
Jul‐Jun
FY24 Jul‐
Dec
Ongoing
Target
Number of tasks for Enterprise Programs Support & Maintenanace ‐ includes
enterprise business platforms like ERP, Land Management System, Recreation System,
City Digital Records, City Website and many programs like Admin Services digital
transformation, citywide permiting, licensing and enforcement solutions. The related
tasks may range from providing staff user access to these platforms to issues that may
require intensive programming and configurations to resolve.
1,950
2,250
Standardizing
tracking
process
2,450 2,500
Number of Hours for Application Development ‐ includes custom software solutions
like Bid Management solution and Permit Parking software solutions. Application
development for these kind of software solution goes through all stages of Software
Development Life Cycle (SDLC) of Requirement‐gathering, Analysis, Designing,
Coding, Testing and Deployment of these custom software solutions.
850 1,300 1,450
1,500
hours
% of Project Implementation Performed on Time and Budget for Ciytwide
Applications ‐ This measure involves the task of project research and communications,
project charter creation, creating or reviewing statement of work, contractor research
and selection process, activity and resource planning, creation of work breakdown
structure, team building, time management, deliverable management, customer
satisfaction, risk management, communication management, project closeout process
and documentation.
94%95% 95% 95%
Infrastructure
Workload Indicator
FY22
Jul‐Jun
FY23
Jul‐Jun
FY24 Jul‐
Dec
Ongoing
Target
% of helpdesk requests completed 48 hours or less ‐ Infrastructure is responisble for
computer and technology support to all City staff. Prompt customer service and
attention is a critical customer service measurement to ensure staff is able to perform
and excel with their daily duties. This core responsibilty is performed by two Network
Specialists serving 200‐250 staff depending on the time of year. Users may
electronically submit or call‐in support requests which is logged in the BossDesk
ticketing software. Infrastructureʹs goal is to provide a service level where 90% of all
helpdesk service requests are completed in 48 hours or less.
93%85.9%91.5%90%
% of network uptime ‐ Maintain availability and accessibility of the Cityʹs network
infrastructure during business hours of operation. The Cityʹs local and wide area
networks require high reliability to ensure various applications (ERP, GIS, Land
management, etc.) and services (Internet, e‐mail, shared files, City web services, etc).
are available for staff and members of the public. Monitoring of equipment, service
links, and responsiveness through tools such as Solarwinds Orion and Aruba Airwave
allow the Infrastructure team to ensure quick reponse time for any issues as well as
document/log network performance.
99.9%99.9% 99.9% 99.90%
Number of IT Projects Completed ‐ Project research and communications, project
charter creation, SOW creation, contractor research and selection process, activity &
resource planning/work breakdown structure, team building and motivation, time
management, deliverable management, ensuring customer satisfaction, risk
management, communication management, project closeout process, documentation
88.89% 9/8 N/A 50% 1/2 100%
196
CC 02-21-2024
196 of 456
GIS
Workload Indicator
FY22
Jul‐Jun
FY23
Jul‐Jun
FY24 Jul‐
Dec
Ongoing
Target
Hours Spent on Development ‐ The GIS Division builds internal and external web
applications, business intelligence tools, digital workflows, and configures enterprise
applications.
876/tracking
is still being
refined. This
is not an
accurate
account.
507/new
tracking
system was in
development
during this
time frame
824 1,000
Number of Map, Data, Analysis, Report Completed Requests ‐ GIS receives requests
from staff and sometimes Commissioners, Sheriffs office, City Council
members…These requests range from hard copy maps (ex. Update a zoning
designation and print all new zoning maps) to interactive web maps (ex. PW had a
consultant evaluate a section of regnart rd and Chad asked us to create a web map
with the data point locations and associate photos), data request (ex. how many Trees
were trimmed this year), data changes (ex. can I see this layer symbolized by status
and added to property info application), crystal report requests (ex. fleet wants a
report that shows how many times each vehicle has a repair work order based on a
1272/trackin
g is still
being
refined. This
is not an
accurate
account.
316/new
tracking
system was in
development
during this
time frame
328
1,000/track
ing is still
being
refined.
This is not
an
accurate
account.
project charter creation, SOW creation, contractor research and selection process,
activity & resource planning/work breakdown structure, team building and
motivation, time management, deliverable management, ensuring customer
satisfaction, risk management, communication management, project closeout process,
documentation
90%
9/10
90%*
7/8
2%
1/6 8/8
*One project was removed due to budget cuts
197
CC 02-21-2024
197 of 456
City of Cupertino
FY 23‐24 Budget Performance Measures
Department: Information & Technology, Video Division
Enabled by…
Measure
FY22
Jul‐Jun
FY23
Jul‐Jun
FY24
Jul‐Dec
Ongoing
Target
Percentage of total video productions
performed vs scheduled productions (city
meetings excluded)
356%
57/16
220%
44/20
155%
28/18 100%
Percentage of total engineering projects vs
scheduled projects
200%
10/5
182%
11/6
133%
4/3 100%
Total video views on YouTube*141,571 135,641 80,351
5% annual
increase
So that…
* Unable to retrieve Granicus viewership data due to error in their reporting module
GOAL: Video Division oversees numerous outreach projects, public meetings, internal equipment upgrades, and
public events. These activities coincide with the City Council and City’s expectation for a positive presence in the
community and communications and transparency to residents.
24/7 government access
channel, radio station,
digital signage network,
City website, and
numerous online video
platforms.
Public awareness, interest, understanding, and participation in the issues, programs, and services presented by the
City of Cupertino can be enhanced.
198
CC 02-21-2024
198 of 456
City of Cupertino
FY 23‐24 Budget Workload Indicators
Department: Information & Technology, Video Division
Workload Indicator
FY21
Jul‐Jun
FY22
Jul‐Jun
FY23
Jul‐Dec Ongoing Target
Video Productions Completed vs. Those Scheduled ‐ The Video Division is
responsible for producing videos for both city staff as well as the general
Cupertino public. Video productions range in scope from relatively simple 30‐
second public service announcements to major projects like CREST that
require more than two months of on‐going field production, post‐production
editing, and a live awards program telecast. This specific Workload Indicator
clearly indicates that a large percentage of annual video projects are
unscheduled or unanticipated. The main reason is that video productions are
oftentimes evaluated and prioritized on the basis of their immediate
organizational value, impact and/or newsworthiness. Oftentimes, these
unanticipated projects are identified and assigned with only a few days or
weeks of advanced notice. As such, there is an on‐going need within the
division for workflow and work schedule adaptability when it comes to
evaluating video productions and completing them on time and on budget.
The measurements here are tracked in the ʺmilestonesʺ document located in
our City Channel documentation folder. The milestones document is a
comprehensive dataset of all the video division projects‐‐both large and small‐‐
and is maintained by the entire video staff. City meeting telecasts are not
included in this particular dataset.
522%
47/9
356%
57/16
245%
27/11 100%
Engineering Projects Completed vs. Those Scheduled ‐ Video staff is
responsible for designing, managing, and maintaining the many audiovisual
and broadcast systems located within the organization. These include
systems within the conference and multipurpose rooms, office and huddle
spaces, as well as the complex broadcast systems within the video control
room at Community Hall. Engineering projects differ from simple repairs,
tasks, and modifications in that projects, as defined, require a phased‐in
approach with advanced planning, design, budgeting, resource acquisition,
and implementation. Most engineering projects are scheduled well in
advance; occasionally, however, video staff may need to implement
unanticipated projects if staff or council priorities require as such. The
Workload Indicator here measures the number of projects completed vs. the
number of scheduled projects. These measurements are tracked in the
ʺengineering milestonesʺ document located in our City Channel
documentation folder. This document is maintained by Pete Coglianese, who
is the broadcast engineer for the division.
250%
15/6
275%
11/4
100%
2/2 100%
Total Viewership on the YouTube and Granicus Platforms ‐ Video staff
historically tracks viewership data within our primary online video platforms‐‐
YouTube and Granicus. Both YouTube and Granicus provide advanced
reporting modules that allow us to accurately track the number of views over
a given date range. The numbers here indicate total views rather than total
unique views. Other online platforms were considered as part of this dataset;
however, because we do not consistently post videos to our other social media
sites such as Facebook, Twitter, Instagram, and Nextdoor, those statistics were
not included as part of this specific performance measure. Similarly, we do
have accurate viewership data for the City Channel, our government access
television channel, so that platform was excluded as well.
246,313 158,300 60,249 5% annual increase
199
CC 02-21-2024
199 of 456
City of Cupertino
FY 23‐24 Budget Performance Measures
Department: Law Enforcement
Law Enforcement
Goal: Maintain a safe environment to live, work, learn and play.
Enabled by…Measure
FY22 Jul‐
Jun
FY23 Jul‐
Jun
FY24 Jul‐
Dec
Ongoing
Target
Priority 1 3.27 6.57 5.78 5 minutes
Priority 2 6.66 7.46 6.69 9 minutes
Priority 3 11.73 12.72 8.18 20 minutes
% programs maintaining minimum
attendance
Teen & Citizen
Academy
98% 90% 90% 80%
Response time for emergency calls
All members of the
community are
safe, informed,
empowered and
supported.
200
CC 02-21-2024
200 of 456
City of Cupertino
FY 23‐24 Budget Workload Indicators
Department: Law Enforcement
Law Enforcement
Workload Indicator FY22 Jul‐
Jun
FY23 Jul‐
Jun
FY24 Jul‐
Dec
Ongoing
Target
Total Priority 1 Calls 76 85 30 72
Total Priority 2 Calls 4,027 4,263 2,548 4,578
Total Priority 3 Calls 3,624 3,161 1,965 5,221
Total Teen/Community Academy
Participants 39 18 18 55
201
CC 02-21-2024
201 of 456
City of Cupertino
FY 23‐24 Budget Performance Measures
Department: Parks and Recreation
Parks and Recreation
Goal: Create a positive, healthy and connected community.
Enabled by…
Measure
FY22 Jul‐
Jun
FY23
Jul‐Jun
FY24
Jul‐Dec
Ongoing
Target
% of Parks and Recreation Department
customers surveyed who rate services
as good or excellent
95% 98% 98% 85%
% of programs maintaining minimum
registration 73% 78% 79% 80%
% change in participants 119% 16% 14% +1%
So that…
Cupertino has an exceptional system of parks and services that align with community values.
% Departmentʹs total cost recovery for
all (direct and indirect) costs 53%55% 59% 40%
# of new programs or events offered 9111250
City investment in
quality recreation
and community
programs
Improved
business processes
to improve
customer
experience
202
CC 02-21-2024
202 of 456
City of Cupertino
FY 23‐24 Budget Workload Indicators
Department: Parks and Recreation
Business and Community Services
Workload Indicator
FY22 Jul‐
Jun
FY23
Jul‐Jun
FY24
Jul‐Dec
Number of reservations at Quinlan
Center 260 405 210
Number of festival applications
received 9100
Recreation and Education
Workload Indicator
FY22 Jul‐
Jun
FY23
Jul‐Jun
FY24
Jul‐Dec
Number of registrations 2,736 3,756 2,636
Number of survey respondents 85 95 41
Number of Senior Center classes
offered 183 235 178
Number of Senior Center trips offered 3149
Sports, Safety and Outdoor Recreation
Workload Indicator
FY22 Jul‐
Jun
FY23
Jul‐Jun
FY24
Jul‐Dec
Number of programs offered 1445 1256 705
Number of picnic reservations @ BBF 123 152 107
Rounds of golf at BBF Golf Course 45,367 37,961 21,950
Sports Center Memberships 1,186 1,394 1,474
203
CC 02-21-2024
203 of 456
City of Cupertino
FY 23‐24 Budget Performance Measures
Department: Public Works
Capital Project Delivery
So that…
Measure
FY22
Jul‐Jun
FY23 Jul‐
Jun
FY24
Jul‐Dec
Ongoing
Target
Percentage of projects completed on
budget
90% 100% 100% 95%
Percentage of construction projects
completed on time 90% 100% 100% 95%
Goal: Develop and deliver projects on time and within budget that serve the residentʹs needs and supports the
Cityʹs stability and growth
*FY22: 9 projects completed, 8 projects on budget and time;
*FY23 JULY TO DEC 2022: 8 projects completed, 8 projects on budget and time
City funds
capital
improvement
projects.
Projects are
utilized by the
community.
Benefit: Residents and businesses are assured their community is being
improved by insightful, targeted and efficient use of taxes and fees towards
maintaining and improving the Cityʹs facilities and assets.
204
CC 02-21-2024
204 of 456
Environment
Goal: Protect our natural environment for current and future generations.
So that...
Measure
FY22
Jul‐Jun
FY23 Jul‐
Jun
FY24
Jul‐Dec
Ongoing
Target
Percent of businesses in compliance
during annual proactive stormwater
pollution prevention inspections
88% 95% 76% 75%
Percent of non‐exempt businesses and
multi‐family accounts separating
organics
86% 87% 97%
100%
(SB1383)
Percent trash/litter reduction achieved to
meet Stormwater Permit requirements
95% 94% N/A
100% by
7/1/2025
Diversion rate from all single‐family,
multi‐family, and commercial accounts
as reported by Recology tonnage reports
53% 53%
50% (July‐
October
2023; Nov‐
Dec not
55%
Respond to reports of actual or potential
discharge the same business day
93% 86% 67% 95%
% of plan reviews completed in required
number of days 93% 93% 89% 100%
Cubic yards of compost distributed via
compost site
440 CY
Quarry:
600CY
SMaRT
Station:
789CY
Quarry:
160 CY
SMaRT
Station
Data: 71.40
1,000 CY
% of vegetation obstructions resolved
within 15 days from time of report* 32% 37% 68% 100%
*Inspections occur in the spring only
City is
responsible for
a
comprehensive
storm water
pollution
prevention
program.
Potential
pollutants are
stopped before
entering the
storm drain
system.
City implements
solid waste
collection
services that
encourage
diversion of
waste from
landfills.
Benefit: Current and future residents enjoy a healthy, sustainable environment.
Diversion of
solid waste
from landfill is
maximized,
compost is
produced for
community use,
recyclable
material is sold
to help offset
collection costs
and methane
gas emissions at
landfills are
reduced.
205
CC 02-21-2024
205 of 456
Development Services
Goal: Provide timely review and permitting of privately completed improvements within the
public right of way.
So that…
Measure
FY22
Jul‐Jun
FY23 Jul‐
Jun
FY24
Jul‐Dec
Ongoing
Target
Respond to complete plan submittals or
applications within two (2) weeks 94% 94% 99% 90%
Respond to complete encroachment
permit applications within two (2)
weeks
93% 94% 94% 90%
Respond to public inquiries at the Public
Works counter in City Hall within 15
minutes
91% 95% 95% 95%
Grounds Division
So that...Measure
FY22
Jul‐Jun
FY23 Jul‐
Jun
FY24
Jul‐Dec
Ongoing
Target
Percentage of 311 requests that are
responded to and closed within 3
business days
82% 62% 67% 80%
Percentage of the 1,872 park inspections,
including play grounds, performed
weekly
79% 31% 29% 100%
Percentage of Backflow Prevention
Devices inspected, tested and repaired
annually
100% 100% 50% 100%
Goal: Provide well maintained, clean, and safe areas for the community’s recreational use and enjoyment at
optimal life cycle costs.
Improvements
within the
public right of
way have
engineering
oversight and
are constructed
to City
standards.
Public
improvements
are consistent
and meet the
needs of the
community.
Benefit: Customers can expect quality reviews and permitting on a defined
schedule, and the community can expect quality public facilities.
The City
consistently
funds park
maintenance
and safety
improvement
programs.
Benefit: Cupertino has a well maintained public park system that meets the
needs of the community and is beneficial to personal wellness.
Parks are
maintained in
good, usable
condition;
safety
programs are
effective.
206
CC 02-21-2024
206 of 456
Streets Division
So that…Measure
FY22
Jul‐Jun
FY23 Jul‐
Jun
FY24
Jul‐Dec
Ongoing
Target
Pavement condition index (PCI) > or
equal to 82 83 81 81 82
Percent of the 2087 storm drain inlets
inspected and cleaned in fiscal year 80% 53% 2% 100%
Percent of Inlets with Trash Capture
Screens inspected and cleaned twice
yearly
100% 100% 50% 100%
Percentage of roadway regulatory &
street name signs repaired or replaced 3.5% 2.0% 2.0% 7%
Percentage of trip and fall complaints
investigated and mitigated within 2
business days
72% 73% 73% 98%
Percentage of reported streetlight
outages investigated and repaired in 3
business days
90% 90% 90% 90%
Trees and Right of Way Division
So that...Measure
FY22
Jul‐Jun
FY23 Jul‐
Jun
FY24
Jul‐Dec
Ongoing
Target
Percentage of 311 requests that are
responded to and closed within 3
business days
95% 90% 93% 95%
Percentage of trees inspected and
maintained in the yearly maintenance
zone (8 year maintenance cycle)
100% 22% 7% 100%
Percentage of trees planted versus trees
removed
# planted/# removed
113%
211/187
146%
153/105
61%
40/65 101%
Goal: Timely maintenance of public sidewalks, streets, streetlights and storm drain system in good condition
to ensure safe, environmentally compliant, and accessible infrastructure that minimizes liability and has an
optimal life cycle cost.
Goal: Maintain and enhance the Cityʹs street trees and medians to ensure a safe, healthy and environmentally
conscious Urban Forest.
The City
consistently
funds street
and storm
drain
maintenance
and safety
improvement
programs.
Street and
storm drain
systems are
maintained in a
good condition;
safety
programs are
effective.
Benefit: Cupertino has well maintained street and storm drain systems that
meet the needs of the community.
Benefit: Cupertino has a healthy and safe urban forest and medians provide
good aesthetic and environmental value.
The City
consistently
funds street
tree and
median
maintenance
and safety
programs
Street trees and
medians
remain in good
health and
condition
207
CC 02-21-2024
207 of 456
Facilities and Fleet Division
So that…Measure
FY22
Jul‐Jun
FY23 Jul‐
Jun
FY24
Jul‐Dec
Ongoing
Target
Percentage of preventative maintenance
work orders completed for Fleet assets
within 14 days of the due date.
87% 54% 61% 85%
Percentage of facilities maintenance
requests closed within 30 days.69% 35% 51% 90%
Transportation Division
So that...Measure
FY22
Jul‐Jun
FY23 Jul‐
Jun
FY24
Jul‐Dec
Ongoing
Target
Percentage of non‐emergency traffic
signal requests addressed within 72
hours.
90% 95% 90% 100%
Percentage of emergency traffic signal
requests addressed within 2 hours.100% 100% 100% 100%
Percentage of traffic engineering
requests responded to within 72 hours 95% 85% 90% 95%
Annual mileage increase of separated
bicycle lanes and pedestrian paths.
2.20 0.82 0 1 mile
Goal: Timely maintain City Facilities and City Fleet to meet staff, community and environmental requirements
at an optimal life cycle cost.
Goal: Ensure the efficiency and safety of the transportation system for all modes of travel.
The City
consistently
funds facility
and fleet
maintenance,
fleet
procurement,
and safety
improvement
programs.
Benefit: Cupertino has well maintained, usable, and safe facilities and fleet
in order to meet the needs of staff and the community.
Benefit: Having a safe and efficient transportation system that is inviting for
all modes of travel.
Infrastructure
indicates good
condition;
safety
programs are
effective.
Facilities and
Fleet remain in
good and
operable
condition.
208
CC 02-21-2024
208 of 456
Total number of special equipment
maintained (tractors, trailers, chippers,
riding mowers, club car, forklift,
generator)
329 329 360
Total number of small equipment
maintained
292 278 278
Total number of work orders
completed
1,966 Facilities
835 Fleet
1,836 Facilities
553 Fleet
1,199 Facilities
277 Fleet
Fleet vehicles replaced with hybrid
and/or electric models
012
Annual number of sitevisits to ensure
janitorial compliance
1,628 1,628 814
Transportation
Workload Indicator FY 22
Jul‐Jun
FY 23
Jul‐Jun
FY24
Jul‐Dec
Number of signalized intersections 60 60 60A1:E76
209
CC 02-21-2024
209 of 456
City of Cupertino
FY 23‐24 Budget Performance Measures
Department: Public Works, Sustainability
GOAL: Implement Cupertino’s Climate Action Plan and General Plan Sustainability
Element to achieve quantifiable emissions reductions, conserve finite resources, and
achieve utility cost avoidance and savings across municipal operations and community partners.
Enabled by…Measure
FY21
Jul‐Jun
FY22
Jul‐Jun
FY23
Jul‐Dec
FY24
Jul‐Dec
Ongoing
Target
% community‐wide emissions reduced
from baseline of 307,288 MT CO2e/yr
15%
reduction
by 2020
(261,195
MT
CO2e/yr)
Initiate, develop, and complete actions
from the Climate Action Plan 2.0
% initiated
% complete or ongoing
100%
79%
100%
79%
6%
4%
23%
5%
100%
100%
% municipal operations emissions
reduced from baseline of 1,865 MT
CO2e/yr
15%
reduction
by 2020
1 Cupertinoʹs GHG inventories are conducted roughly every 3‐5 years.
So that…
2018 inventory: 24% decrease in
emissions from baseline (258,659 MT
CO2e/yr)
2018 inventory: 66% reduction in
emissions from baseline: 642 MTCO2e
An agency
implementing
Council and
community
sustainability
goals to
effectively
safeguard
shared
resources.
Engaged
community
partners and
volunteers
supporting CAP
implementation
Cupertino is a thriving City to live, work, learn and play.
210
CC 02-21-2024
210 of 456
City of Cupertino
FY 23‐24 Budget Workload Indicators
Department: Public Works, Sustainability
Workload Indicator
FY22 Jul‐
Jun
FY22 Jul‐
Jun
FY23 Jul‐
Dec
FY24 Jul‐
Dec
Climate Action Plan 2.0 Actions
initiated or in Progress 83822
Climate Action Plan 2.0 Actions
Completed 5257
Community Education and Outreach
Activities Held 5265 5
Cross‐Departmental Projects
Supporting 9695
Number of municipal and community
programs leading or supporting 8888
211
CC 02-21-2024
211 of 456
FY 2022-23 Special Projects
Function Program
Base And Detail Account With Detail
Description Full Org Set Code And Description
Amended
Budget
Actual
Amount Status
Estimated
Complete
Notes (e.g.,
carried over to
next fiscal year)
Administration 120 City Manager
750.228 - CWP Safe Gun Storage
Ordinance
100-12-120 - General Fund-City Manager-
City Manager 12,000 - Cancelled
Administration 120 City Manager 750.239 - PR & Strategic Comm Strategy
100-12-120 - General Fund-City Manager-
City Manager - - Not Started
Administration 122 Sustainability Division 750.018 - Climate Action Plan
100-12-122 - General Fund-City Manager-
Sustainability Division 89,147 91,745 Completed
Administration 122 Sustainability Division 750.019 - Employee Commute Program
100-12-122 - General Fund-City Manager-
Sustainability Division 14,455 14,455 Completed
Program
discontinued. No
funding.
Administration 122 Sustainability Division 750.069 - Sustainable Infrastructure Audit
100-12-122 - General Fund-City Manager-
Sustainability Division - - Not Started n/a
Administration 122 Sustainability Division 750.106 - Electric Cooking Workshop Series
100-12-122 - General Fund-City Manager-
Sustainability Division - - In Progress 6/30/2024
Administration 122 Sustainability Division 750.176 - Climate AP Vision Summary Doc
100-12-122 - General Fund-City Manager-
Sustainability Division - - In Progress 6/30/2025
Administration 122 Sustainability Division 750.223 - CWP Electrification Study
100-12-122 - General Fund-City Manager-
Sustainability Division - - In Progress 6/30/2024
Administration 126 Office of Communications
750.220 - CWP Community Engagement
Alt T/P
100-12-126 - General Fund-City Manager-
Office of Communications 12,000 - Cancelled
Administration 126 Office of Communications
750.225 - CWP Integrated Plan for
Engagmnt
100-12-126 - General Fund-City Manager-
Office of Communications 30,000 - Cancelled
Administration 305 Video 900.945 - Fixed Asset Acquisition
100-12-305 - General Fund-City Manager-
Video 10,000 9,549 Completed
Administration 633 Disaster Preparedness 750.230 - Business Continuity Resilience
100-12-633 - General Fund-City Manager-
Disaster Preparedness - - Not Started
Administration 633 Disaster Preparedness 750.240 - MRC Rise
100-12-633 - General Fund-City Manager-
Disaster Preparedness 18,677 18,677 In Progress
Administration 705 Economic Development 750.103 - CWP Regulate Diversified Retail
100-12-705 - General Fund-City Manager-
Economic Development - - Not Started
Administration 705 Economic Development 750.179 - Econ Dev Strategy Outreach
100-12-705 - General Fund-City Manager-
Economic Development - - Not Started
Administration 705 Economic Development
750.221 - CWP Cupertino Store
Implementatn
100-12-705 - General Fund-City Manager-
Economic Development 145,000 14,058 Cancelled
Administration 705 Economic Development 750.230 - Business Continuity Resilience
100-12-705 - General Fund-City Manager-
Economic Development - - Not Started
Administrative
services 405 Accounting 750.189 - Fee Study
100-41-405 - General Fund-Finance-
Accounting 4,200 4,200 In Progress Feb-24
Administrative
services 412 Human Resources 750.214 - Hybrid Recruitment Strategy
100-44-412 - General Fund-Human
Resources-Human Resources - - Cancelled
Administrative
services 412 Human Resources 750.215 - Online Marketing and Branding
100-44-412 - General Fund-Human
Resources-Human Resources - - Cancelled
Administrative
services 412 Human Resources 750.229 - CWP Student Internship Program
100-44-412 - General Fund-Human
Resources-Human Resources - - Cancelled
212
CC 02-21-2024
212 of 456
FY 2022-23 Special Projects
Function Program
Base And Detail Account With Detail
Description Full Org Set Code And Description
Amended
Budget
Actual
Amount Status
Estimated
Complete
Notes (e.g.,
carried over to
next fiscal year)
Administrative
services 425 Purchasing 750.190 - Purchasing - Grant Program
100-41-425 - General Fund-Finance-
Purchasing 100,000 - Cancelled
Administrative
services 426 Budgeting
750.217 - CWP Analyze Potential Rev
Measrs
100-41-426 - General Fund-Finance-
Budgeting 50,000 - In Progress Feb-24
Community
development
700 Community Development
Admin 750.104 - CWP Homeless Jobs Program
100-70-700 - General Fund-Planning &
Community Development-Community
Development Admin 126,048 126,047 Completed
Community
development 701 Current Planning 750.007 - The Hamptons
100-71-701 - General Fund-Planning-
Current Planning - - Not Started
Community
development 701 Current Planning 750.009 - Marina Plaza
100-71-701 - General Fund-Planning-
Current Planning 43,195 43,194 In Progress
Community
development 701 Current Planning 750.029 - Vallco Town Center
100-71-701 - General Fund-Planning-
Current Planning 10,170 10,170 In Progress
Community
development 701 Current Planning
750.091 - Banning Gas Powered Leaf
Blowers
100-71-701 - General Fund-Planning-
Current Planning 1,158 7,594 Completed
Community
development 702 Mid Long Term Planning 750.032 - General Plan
100-71-702 - General Fund-Planning-Mid
Long Term Planning - - In Progress
Community
development 702 Mid Long Term Planning 750.048 - Urban Village
100-71-702 - General Fund-Planning-Mid
Long Term Planning 250,000 - Cancelled City of San Jose
Community
development 702 Mid Long Term Planning 750.049 - MuniCode Updates
100-71-702 - General Fund-Planning-Mid
Long Term Planning - - In Progress
Community
development 702 Mid Long Term Planning 750.055 - Dark Sky
100-71-702 - General Fund-Planning-Mid
Long Term Planning 10,000 - Completed
Community
development 702 Mid Long Term Planning 750.090 - Residential/Mixed Use Design
100-71-702 - General Fund-Planning-Mid
Long Term Planning 2,433 2,433 In Progress
Community
development 702 Mid Long Term Planning 750.092 - General Plan Auth Process
100-71-702 - General Fund-Planning-Mid
Long Term Planning 6,500 - Cancelled
Community
development 702 Mid Long Term Planning
750.100 - CWP Development
Accountability
100-71-702 - General Fund-Planning-Mid
Long Term Planning 10,000 - Cancelled
Community
development 702 Mid Long Term Planning 750.101 - CWP RHNA and Gen Plan Update
100-71-702 - General Fund-Planning-Mid
Long Term Planning 438,314 438,314 In Progress
Community
development 702 Mid Long Term Planning 750.102 - CWP Sign Ordinance Update
100-71-702 - General Fund-Planning-Mid
Long Term Planning 25,000 - In Progress
Community
development 702 Mid Long Term Planning
750.135 - Laserfiche planning map
scanning
100-71-702 - General Fund-Planning-Mid
Long Term Planning 26,010 26,010 In Progress
Community
development
711 BMR Affordable Housing
Fund 750.051 - Support for the Unhoused
265-72-711 - BMR Housing-Housing
Services-BMR Affordable Housing Fund 178,775 13,787 Cancelled
Community
development
711 BMR Affordable Housing
Fund 750.052 - Develop ELI Housing
265-72-711 - BMR Housing-Housing
Services-BMR Affordable Housing Fund 3,571 3,571 In Progress
Community
development
711 BMR Affordable Housing
Fund 750.093 - De Anza Housing Program
265-72-711 - BMR Housing-Housing
Services-BMR Affordable Housing Fund 25,000 - Cancelled
Community
development 713 General Building
750.036 - Ongoing Bldg Recrd
scan/conversn
100-73-713 - General Fund-Building-
General Building - - In Progress
Community
development 714 Construction Plan Check 750.031 - Westport
100-73-714 - General Fund-Building-
Construction Plan Check 122,835 122,835 In Progress
213
CC 02-21-2024
213 of 456
FY 2022-23 Special Projects
Function Program
Base And Detail Account With Detail
Description Full Org Set Code And Description
Amended
Budget
Actual
Amount Status
Estimated
Complete
Notes (e.g.,
carried over to
next fiscal year)
Community
development 714 Construction Plan Check 750.067 - VTC
100-73-714 - General Fund-Building-
Construction Plan Check 11,985 11,985 In Progress
Community
development 715 Building Inspection 750.067 - VTC
100-73-715 - General Fund-Building-
Building Inspection - - Not Started
Information Services 300 Administration 750.087 - Pollution Monitoring
610-30-300 - Innovation & Technology-I&T
Administration-Administration 14,500 14,500 Completed
Information Services 300 Administration 750.107 - Security Framework and Audit
610-30-300 - Innovation & Technology-I&T
Administration-Administration - - In Progress
Information Services 300 Administration 750.173 - CWP Lehigh & SC Quarry
610-30-300 - Innovation & Technology-I&T
Administration-Administration 27,000 26,500 Completed
Information Services 300 Administration 750.197 - Aclima & Envirosuite Pilot Ext
610-30-300 - Innovation & Technology-I&T
Administration-Administration - - Completed
Information Services 300 Administration 750.222 - CWP Cybersecurity Public Edu
610-30-300 - Innovation & Technology-I&T
Administration-Administration - - Completed
Information Services 300 Administration
750.224 - CWP Hybrid Mtg for CC and
Commis
610-30-300 - Innovation & Technology-I&T
Administration-Administration 15,000 - Cancelled
Information Services 300 Administration 750.227 - CWP License Plate Readers
610-30-300 - Innovation & Technology-I&T
Administration-Administration - - Cancelled
Information Services 305 Video 750.109 - Radio Windows 10 Replacement
100-31-305 - General Fund-I&T Video-
Video 10,000 5,641 Completed
Information Services 305 Video 900.945 - Fixed Asset Acquisition
100-31-305 - General Fund-I&T Video-
Video 9,684 9,684 Completed
Information Services 305 Video 900.995 - Special Projects - CDD/I&T
100-31-305 - General Fund-I&T Video-
Video 27,109 27,108 Completed
Information Services 308 Applications 750.115 - ERP Exploration
100-32-308 - General Fund-I&T
Applications-Applications 50,000 50,000 Completed
Information Services 308 Applications 750.117 - Green Halo
100-32-308 - General Fund-I&T
Applications-Applications 3,465 (4,395)Completed
Information Services 308 Applications 750.120 - Performance Management App
100-32-308 - General Fund-I&T
Applications-Applications - - Cancelled
Information Services 308 Applications
750.121 - Pre-Employment
Assessment/Tests
100-32-308 - General Fund-I&T
Applications-Applications 5,000 - Cancelled
Information Services 308 Applications 750.123 - Redesign of City Website
100-32-308 - General Fund-I&T
Applications-Applications 24,300 24,300 Completed
Information Services 308 Applications 750.180 - CAP Implementation Software
100-32-308 - General Fund-I&T
Applications-Applications 20,000 - Cancelled
Information Services 308 Applications 750.181 - ERP (Phase II)
100-32-308 - General Fund-I&T
Applications-Applications 12,852 12,852 Cancelled
Information Services 308 Applications 750.182 - Zendesk for Parks and Rec
100-32-308 - General Fund-I&T
Applications-Applications 40,000 - Cancelled
Information Services 308 Applications 750.183 - ACA Guide & Wrapper
100-32-308 - General Fund-I&T
Applications-Applications - - In Progress
Information Services 308 Applications 750.184 - Accela Roadmap
100-32-308 - General Fund-I&T
Applications-Applications 2,000 - In Progress
214
CC 02-21-2024
214 of 456
FY 2022-23 Special Projects
Function Program
Base And Detail Account With Detail
Description Full Org Set Code And Description
Amended
Budget
Actual
Amount Status
Estimated
Complete
Notes (e.g.,
carried over to
next fiscal year)
Information Services 308 Applications 750.185 - ActiveNet Roadmap
100-32-308 - General Fund-I&T
Applications-Applications 25,000 - Cancelled
Information Services 308 Applications 750.186 - Consolidated Code Enf Services
100-32-308 - General Fund-I&T
Applications-Applications 17,592 17,593 Completed
Information Services 308 Applications 750.187 - Crisis Management Software
100-32-308 - General Fund-I&T
Applications-Applications 15,000 - Cancelled
Information Services 308 Applications 750.188 - Semi Annual ADA Consultant
100-32-308 - General Fund-I&T
Applications-Applications 35,000 26,000 Completed
Information Services 308 Applications 750.232 - Debtbook
100-32-308 - General Fund-I&T
Applications-Applications - - Completed
Information Services 308 Applications 750.233 - Startup Space
100-32-308 - General Fund-I&T
Applications-Applications - - Completed
Information Services 310 Infrastructure 750.107 - Security Framework and Audit
610-34-310 - Innovation & Technology-I&T
Infrastructure-Infrastructure - - In Progress
Information Services 310 Infrastructure 750.124 - ActiveNet Additional Readers
610-34-310 - Innovation & Technology-I&T
Infrastructure-Infrastructure - - Completed
Information Services 310 Infrastructure 750.125 - Council Voting System and Timer
610-34-310 - Innovation & Technology-I&T
Infrastructure-Infrastructure - - Cancelled
Information Services 310 Infrastructure 750.130 - Senior Center Access Controls
610-34-310 - Innovation & Technology-I&T
Infrastructure-Infrastructure - - In Progress
transferred to
Facilities
Information Services 310 Infrastructure 750.131 - Wireless Bridge
610-34-310 - Innovation & Technology-I&T
Infrastructure-Infrastructure 1,650 (74)Cancelled
Information Services 310 Infrastructure 750.171 - Quinlan Touch Screen
610-34-310 - Innovation & Technology-I&T
Infrastructure-Infrastructure 14,870 14,870 In Progress
Information Services 310 Infrastructure 750.198 - Office 365 E5 Licenses
610-34-310 - Innovation & Technology-I&T
Infrastructure-Infrastructure 7,000 7,000 Completed
Information Services 310 Infrastructure 750.199 - City Facilities Video Capture
610-34-310 - Innovation & Technology-I&T
Infrastructure-Infrastructure 53,921 48,895 In Progress
Information Services 310 Infrastructure
750.200 - CH Ent Server & Storage Tech
Ref
610-34-310 - Innovation & Technology-I&T
Infrastructure-Infrastructure - - Completed
Information Services 310 Infrastructure 750.201 - Digital Signage
610-34-310 - Innovation & Technology-I&T
Infrastructure-Infrastructure 25,000 - Cancelled
Information Services 310 Infrastructure 750.202 - CAD & RMS Wan Link
610-34-310 - Innovation & Technology-I&T
Infrastructure-Infrastructure 7,200 - Cancelled
Information Services 310 Infrastructure 750.203 - Suppl Wi-Fi Exp in Public Areas
610-34-310 - Innovation & Technology-I&T
Infrastructure-Infrastructure 15,875 1,765 Cancelled
Information Services 310 Infrastructure
750.204 - Proactive Man Risk & Sec
Monitor
610-34-310 - Innovation & Technology-I&T
Infrastructure-Infrastructure 23,000 23,000 Completed
Information Services 310 Infrastructure 750.205 - Public Bike Smart Rack DockTech
610-34-310 - Innovation & Technology-I&T
Infrastructure-Infrastructure - - Cancelled
Information Services 310 Infrastructure 750.206 - Sign Shop Printer Warranty
610-34-310 - Innovation & Technology-I&T
Infrastructure-Infrastructure 3,000 2,897 Completed
Information Services 310 Infrastructure 900.945 - Fixed Asset Acquisition
610-34-310 - Innovation & Technology-I&T
Infrastructure-Infrastructure 124,813 - In Progress
215
CC 02-21-2024
215 of 456
FY 2022-23 Special Projects
Function Program
Base And Detail Account With Detail
Description Full Org Set Code And Description
Amended
Budget
Actual
Amount Status
Estimated
Complete
Notes (e.g.,
carried over to
next fiscal year)
Information Services 310 Infrastructure 900.969 - Software
610-34-310 - Innovation & Technology-I&T
Infrastructure-Infrastructure 49,000 - Completed
Information Services 986 GIS 750.166 - AR McClellan Ranch
610-35-986 - Innovation & Technology-I&T
GIS-GIS 13,333 13,333 In Progress
Information Services 986 GIS
750.167 - Data Governance & Data
Warehouse
610-35-986 - Innovation & Technology-I&T
GIS-GIS 75,000 45,990 Cancelled
Information Services 986 GIS 750.207 - Additional Telematics Devices
610-35-986 - Innovation & Technology-I&T
GIS-GIS - - Cancelled
Information Services 986 GIS 750.208 - Geotab Keyless Solution
610-35-986 - Innovation & Technology-I&T
GIS-GIS 6,000 - Cancelled
Information Services 986 GIS 750.209 - Google Query
610-35-986 - Innovation & Technology-I&T
GIS-GIS 5,000 1,257 Cancelled
Information Services 986 GIS
750.210 - Business Process Automation
Plat
610-35-986 - Innovation & Technology-I&T
GIS-GIS 42,000 42,000 Completed
Information Services 986 GIS 750.211 - Drone Instructor Training
610-35-986 - Innovation & Technology-I&T
GIS-GIS 825 775 Completed
Information Services 986 GIS 750.212 - Laserfiche Scanning
610-35-986 - Innovation & Technology-I&T
GIS-GIS 7,585 7,585 In Progress
Information Services 986 GIS 750.213 - Amazon EC2 Instance t3aXLarge
610-35-986 - Innovation & Technology-I&T
GIS-GIS 5,000 5,000 Completed
Information Services 986 GIS 750.216 - CIP Management System
610-35-986 - Innovation & Technology-I&T
GIS-GIS 87,465 88,300 In Progress
Public works 800 Public Works Admin 750.071 - Municipal Water System
100-80-800 - General Fund-PW
Administration-Public Works Admin - - In Progress 8/1/2024
Public works 801 Resources Recovery 750.041 - HHW and PaintCare
520-81-801 - Resource Recovery-
Environmental Programs-Resources
Recovery 62,717 73,123 In Progress
Ongoing
annual
project
No completion
date
Public works 801 Resources Recovery 750.084 - Single Use Plastics Ordinance
520-81-801 - Resource Recovery-
Environmental Programs-Resources
Recovery 21,529 21,529 In Progress 6/30/2025
Public works 801 Resources Recovery
750.137 - SB1383 Procurement
Requirements
520-81-801 - Resource Recovery-
Environmental Programs-Resources
Recovery 14,811 14,811 In Progress
Ongoing
annual
project
No completion
date
Public works 801 Resources Recovery
750.174 - New Lndfill Agrmnt/Solid Wst
con
520-81-801 - Resource Recovery-
Environmental Programs-Resources
Recovery 104,303 104,303 In Progress 8/31/2025
Public works 802 Non Point Source 750.196 - Storm Water (SWPPP) Update
230-81-802 - Env Mgmt Cln Crk Strm Drain-
Environmental Programs-Non Point Source (439) 12,161 Completed
Public works 804 Plan Review 750.039 - PW Scanning Project
100-82-804 - General Fund-
Developmental Services-Plan Review 24,296 24,295 In Progress 6/30/2024
Public works 804 Plan Review 750.067 - VTC
100-82-804 - General Fund-
Developmental Services-Plan Review - - In Progress Ongoing
No completion
date
Public works 804 Plan Review 750.105 - CWP Revisit 5G
100-82-804 - General Fund-
Developmental Services-Plan Review - - In Progress 9/30/2024
216
CC 02-21-2024
216 of 456
FY 2022-23 Special Projects
Function Program
Base And Detail Account With Detail
Description Full Org Set Code And Description
Amended
Budget
Actual
Amount Status
Estimated
Complete
Notes (e.g.,
carried over to
next fiscal year)
Public works 804 Plan Review 750.191 - BBF Golf Netting Support Inspect
100-82-804 - General Fund-
Developmental Services-Plan Review 6,000 7,353 Completed
Public works
807 Service Center
Administration 750.043 - Office Reconfiguration
100-83-807 - General Fund-Service Center-
Service Center Administration 38,152 38,152 In Progress
Ongoing
annual
project
No completion
date
Public works 808 McClellan Ranch Park 750.025 - Special Maintenance
100-84-808 - General Fund-Grounds-
McClellan Ranch Park - - Completed
Public works 808 McClellan Ranch Park
750.138 - 4H Perimeter Fence
Replacement
100-84-808 - General Fund-Grounds-
McClellan Ranch Park - - Completed
Public works 809 Memorial Park 750.025 - Special Maintenance
100-84-809 - General Fund-Grounds-
Memorial Park 15,000 15,400 Completed
Public works 811 BBF Ground Maintenance 750.025 - Special Maintenance
100-84-811 - General Fund-Grounds-BBF
Ground Maintenance 30,000 17,900 Completed
Public works 812 School Site Maintenance 750.025 - Special Maintenance
100-84-812 - General Fund-Grounds-
School Site Maintenance 30,000 35,491 In Progress 6/30/2024
Public works 812 School Site Maintenance 750.140 - Backflow Prevention Device Repl
100-84-812 - General Fund-Grounds-
School Site Maintenance 6,000 4,798 Completed
Public works 813 Neighborhood Parks 750.025 - Special Maintenance
100-84-813 - General Fund-Grounds-
Neighborhood Parks 83,000 48,476 Completed
Public works 813 Neighborhood Parks 750.074 - Tot Lot Rubber Resurfacing
100-84-813 - General Fund-Grounds-
Neighborhood Parks 20,449 20,449 Completed
Public works 813 Neighborhood Parks 750.140 - Backflow Prevention Device Repl
100-84-813 - General Fund-Grounds-
Neighborhood Parks 10,809 11,283 Completed
Public works 813 Neighborhood Parks 750.141 - Basketball Court Resurfacing
100-84-813 - General Fund-Grounds-
Neighborhood Parks - - Completed
Public works 813 Neighborhood Parks 900.990 - Special Projects - PW
100-84-813 - General Fund-Grounds-
Neighborhood Parks - - Completed
Public works 814 Sport Fields Jollyman CRK 750.140 - Backflow Prevention Device Repl
100-84-814 - General Fund-Grounds-Sport
Fields Jollyman CRK - - In Progress 6/30/2024
Public works 814 Sport Fields Jollyman CRK 750.141 - Basketball Court Resurfacing
100-84-814 - General Fund-Grounds-Sport
Fields Jollyman CRK - - Completed
Public works 820 Sidewalk Curb and Gutter 750.020 - Annual Sidewalk Curb & Gutter
270-85-820 - Transportation Fund-Streets-
Sidewalk Curb and Gutter 177,577 177,576 In Progress 6/30/2025
Public works
821 Street Pavement
Maintenance 900.921 - Annual Asphalt Project
270-85-821 - Transportation Fund-Streets-
Street Pavement Maintenance 1,813,019 1,901,218 Not Started
Public works 822 Street Sign Marking 750.025 - Special Maintenance
270-85-822 - Transportation Fund-Streets-
Street Sign Marking 10,300 10,266 Completed
Public works 822 Street Sign Marking 900.945 - Fixed Asset Acquisition
270-85-822 - Transportation Fund-Streets-
Street Sign Marking - 5,852 Completed
Public works 824 Overpasses and Medians 750.192 - Mound Removals
100-86-824 - General Fund-Trees and
Right of Way-Overpasses and Medians 70,775 70,775 Completed
Public works 824 Overpasses and Medians 750.193 - Split Rail Fence-SCB & Mary Ave
100-86-824 - General Fund-Trees and
Right of Way-Overpasses and Medians 16,400 18,255 Completed
Public works 824 Overpasses and Medians 750.194 - Trench Work
100-86-824 - General Fund-Trees and
Right of Way-Overpasses and Medians - - Completed
217
CC 02-21-2024
217 of 456
FY 2022-23 Special Projects
Function Program
Base And Detail Account With Detail
Description Full Org Set Code And Description
Amended
Budget
Actual
Amount Status
Estimated
Complete
Notes (e.g.,
carried over to
next fiscal year)
Public works 825 Street Tree Maintenance 900.911 - Trees and Badges
100-86-825 - General Fund-Trees and
Right of Way-Street Tree Maintenance 13,737 13,737 In Progress
Ongoing
annual
project
No completion
date
Public works 827 Bldg Maint City Hall 750.144 - Electrical Preventive Maint
100-87-827 - General Fund-Facilities and
Fleet-Bldg Maint City Hall - - Completed
Public works 827 Bldg Maint City Hall 750.145 - Fascia Repair and Painting
100-87-827 - General Fund-Facilities and
Fleet-Bldg Maint City Hall 60,000 42,692 Completed
Public works 827 Bldg Maint City Hall 750.146 - Lower Floor Recarpeting
100-87-827 - General Fund-Facilities and
Fleet-Bldg Maint City Hall 70,000 58,640 Completed
Public works 827 Bldg Maint City Hall 750.147 - Boiler Preventive Maintenance
100-87-827 - General Fund-Facilities and
Fleet-Bldg Maint City Hall - 2,535 Completed
Public works 828 Bldg Maint Library 750.025 - Special Maintenance
100-87-828 - General Fund-Facilities and
Fleet-Bldg Maint Library - - In Progress 6/30/2024
Public works 828 Bldg Maint Library 750.147 - Boiler Preventive Maintenance
100-87-828 - General Fund-Facilities and
Fleet-Bldg Maint Library 5,000 3,209 Completed
Public works 829 Bldg Maint Service Center 750.025 - Special Maintenance
100-87-829 - General Fund-Facilities and
Fleet-Bldg Maint Service Center 64,638 13,424 In Progress 6/30/2024
Public works 829 Bldg Maint Service Center 750.150 - Shop Building Roof Recoating
100-87-829 - General Fund-Facilities and
Fleet-Bldg Maint Service Center - - Completed
Public works 829 Bldg Maint Service Center 750.152 - Locksmith Training
100-87-829 - General Fund-Facilities and
Fleet-Bldg Maint Service Center 4,000 4,000 Completed
Public works 830 Bldg Maint Quinlan Center 750.025 - Special Maintenance
100-87-830 - General Fund-Facilities and
Fleet-Bldg Maint Quinlan Center 34,000 19,440 In Progress 6/30/2024
Public works 830 Bldg Maint Quinlan Center 750.147 - Boiler Preventive Maintenance
100-87-830 - General Fund-Facilities and
Fleet-Bldg Maint Quinlan Center 5,000 2,580 Completed
Public works 831 Bldg Maint Senior Center 750.025 - Special Maintenance
100-87-831 - General Fund-Facilities and
Fleet-Bldg Maint Senior Center 6,050 6,050 Not Started 6/30/2024
Public works 831 Bldg Maint Senior Center 900.945 - Fixed Asset Acquisition
100-87-831 - General Fund-Facilities and
Fleet-Bldg Maint Senior Center 10,940 17,197 Completed
Public works 832 Bldg Maint McClellan Ranch 750.025 - Special Maintenance
100-87-832 - General Fund-Facilities and
Fleet-Bldg Maint McClellan Ranch 18,653 18,653 In Progress 6/30/2024
Public works 836 Bldg Maint Sports Center 750.025 - Special Maintenance
570-87-836 - Sports Center-Facilities and
Fleet-Bldg Maint Sports Center 35,506 17,179 In Progress 6/30/2024
HVAC is the only
project left
Public works 836 Bldg Maint Sports Center 750.155 - Exterior Painting
570-87-836 - Sports Center-Facilities and
Fleet-Bldg Maint Sports Center 45,000 63,327 Completed
Public works 836 Bldg Maint Sports Center 750.157 - Door Refinishing
570-87-836 - Sports Center-Facilities and
Fleet-Bldg Maint Sports Center 2,745 2,744 Completed
Public works 836 Bldg Maint Sports Center 900.945 - Fixed Asset Acquisition
570-87-836 - Sports Center-Facilities and
Fleet-Bldg Maint Sports Center - - Completed
Public works 838 Comm Hall Bldg Maint 750.148 - Exterior Door Painting
100-87-838 - General Fund-Facilities and
Fleet-Comm Hall Bldg Maint 4,000 - Completed
Public works 841 BBF Facilities Maintenance 750.025 - Special Maintenance
100-87-841 - General Fund-Facilities and
Fleet-BBF Facilities Maintenance - - Not Started
Public works 841 BBF Facilities Maintenance 750.162 - Uninterrupted Power Supply
100-87-841 - General Fund-Facilities and
Fleet-BBF Facilities Maintenance 5,000 5,000 Completed
218
CC 02-21-2024
218 of 456
FY 2022-23 Special Projects
Function Program
Base And Detail Account With Detail
Description Full Org Set Code And Description
Amended
Budget
Actual
Amount Status
Estimated
Complete
Notes (e.g.,
carried over to
next fiscal year)
Public works 841 BBF Facilities Maintenance 900.990 - Special Projects - PW
100-87-841 - General Fund-Facilities and
Fleet-BBF Facilities Maintenance - - Completed
Public works 844 Traffic Engineering 750.040 - Planned Transportation Project
100-88-844 - General Fund-Transportation-
Traffic Engineering 43,977 43,976 In Progress 6/30/2024
Public works 844 Traffic Engineering
750.061 - Community Shuttle Pilot
Program
100-88-844 - General Fund-Transportation-
Traffic Engineering 825,911 825,910 Completed
Public works 844 Traffic Engineering 750.079 - Adaptive Traffic Signaling
100-88-844 - General Fund-Transportation-
Traffic Engineering 141,557 141,557 Completed
Public works 844 Traffic Engineering 750.163 - VMT to LOS Standards
100-88-844 - General Fund-Transportation-
Traffic Engineering - - In Progress 6/30/2025
Public works 844 Traffic Engineering 750.195 - Lawson Middle School Bikeway
100-88-844 - General Fund-Transportation-
Traffic Engineering 40,000 40,000 Completed
Public works 844 Traffic Engineering 750.219 - CWP Bicycle Facilities
100-88-844 - General Fund-Transportation-
Traffic Engineering - - Not Started 6/30/2024
Public works 844 Traffic Engineering 750.231 - SC Corridor Vision Study
100-88-844 - General Fund-Transportation-
Traffic Engineering - - In Progress 6/30/2025
Public works 844 Traffic Engineering 900.923 - Apple Campus 2
100-88-844 - General Fund-Transportation-
Traffic Engineering - - Completed
Public works 845 Traffic Signal Maintenance 750.079 - Adaptive Traffic Signaling
100-88-845 - General Fund-Transportation-
Traffic Signal Maintenance (2,886) - Completed
Public works 846 Safe Routes 2 School 750.080 - Pedestrian Education
100-88-846 - General Fund-Transportation-
Safe Routes 2 School 13,040 57,729 Completed
Public works 846 Safe Routes 2 School 750.165 - Riding for Focus Program
100-88-846 - General Fund-Transportation-
Safe Routes 2 School 49,000 - Completed
Public works 848 Street Lighting 750.025 - Special Maintenance
100-85-848 - General Fund-Streets-Street
Lighting 8,300 7,919 Completed
Public works 848 Street Lighting 900.945 - Fixed Asset Acquisition
100-85-848 - General Fund-Streets-Street
Lighting - 6,273 Completed
Public works 848 Street Lighting 900.990 - Special Projects - PW
100-85-848 - General Fund-Streets-Street
Lighting 213,000 212,630 In Progress 8/30/2024
Public works 849 Equipment Maintenance 750.078 - Mechanic Shop Hose Reels
630-85-849 - Vehicle/Equip Replacement -
Streets-Equipment Maintenance 49,615 49,615 Completed
Public works 853 Storm Drain Fee 750.062 - Permeable Pavement
230-81-853 - Env Mgmt Cln Crk Strm Drain-
Environmental Programs-Storm Drain Fee 12,500 - Completed
Defunded by
council 6/6/23
Public works 853 Storm Drain Fee 750.063 - Rainwater Capture
230-81-853 - Env Mgmt Cln Crk Strm Drain-
Environmental Programs-Storm Drain Fee (12,325) 175 In Progress
Ongoing
annual
project
No completion
date
Public works 854 General Fund Subsidy 750.064 - Low Income Cost Share
230-81-854 - Env Mgmt Cln Crk Strm Drain-
Environmental Programs-General Fund
Subsidy 8,000 271 In Progress
Ongoing
annual
project
No completion
date
219
CC 02-21-2024
219 of 456
FY 2022-23 Special Projects
Function Program
Base And Detail Account With Detail
Description Full Org Set Code And Description
Amended
Budget
Actual
Amount Status
Estimated
Complete
Notes (e.g.,
carried over to
next fiscal year)
Public works 854 General Fund Subsidy 750.065 - CUSD Joint Use Cost Share
230-81-854 - Env Mgmt Cln Crk Strm Drain-
Environmental Programs-General Fund
Subsidy 21,868 8,713 In Progress
Ongoing
annual
project
No completion
date
Public works 985 Fixed Assets Acquisition 900.945 - Fixed Asset Acquisition
630-90-985 - Vehicle/Equip Replacement -
Citywide - Non Departmental-Fixed Assets
Acquisition 366,980 5,157 In Progress
Ongoing
annual
project
Recreation services
601 Rec & Comm Svcs
Administration 750.096 - CWP Mental Health Support
100-60-601 - General Fund-Administration-
Rec & Comm Svcs Administration 9,274 - In Progress
CWP was
completed 21-22
and now just an
ongoing P&R
program
Recreation services
601 Rec & Comm Svcs
Administration 750.098 - CWP Senior Strategy
100-60-601 - General Fund-Administration-
Rec & Comm Svcs Administration 25,400 25,400 In Progress
Carried over to
FY23-24 to
Senior Survey
Assessment
Recreation services
601 Rec & Comm Svcs
Administration 750.164 - CWP Dogs Off Leash Area
100-60-601 - General Fund-Administration-
Rec & Comm Svcs Administration 5,000 452 In Progress
Carried over to
FY23-24 and
includes DOLA
Amenities
Recreation services
601 Rec & Comm Svcs
Administration
750.218 - CWP Artwork at the
Library/Exhib
100-60-601 - General Fund-Administration-
Rec & Comm Svcs Administration 10,000 - Completed
Recreation services
601 Rec & Comm Svcs
Administration
750.226 - CWP Intergenerational
Engagement
100-60-601 - General Fund-Administration-
Rec & Comm Svcs Administration 20,000 4,240 Completed
Carried over to
FY23-24. New
project WP24
005 Senior
Services and
Youth
Engagement
Recreation services 616 BBF Golf Course 900.945 - Fixed Asset Acquisition
560-63-616 - Blackberry Farm-Sports,
Safety and Outdoor Rec-BBF Golf Course 137,000 - Completed
Recreation services 621 Sports Center Operation 900.959 - Windscreens
570-63-621 - Sports Center-Sports, Safety
and Outdoor Rec-Sports Center Operation - - Completed
Carried over to
FY23-24.
Completed in
Sept 23
220
CC 02-21-2024
220 of 456
FY 2023-24 Mid-Year Special Projects
Function Program
Base And Detail Account With Detail
Description Full Org Set Code And Description
Amended
Budget
Actual
Amount Status
Estimated
Complete
Notes (e.g.,
carried over to
next fiscal year)
Administration 120 City Manager 750.239 - PR & Strategic Comm Strategy
100-12-120 - General Fund-City Manager-
City Manager 175,000 11,700 In Progress
Administration 122 Sustainability Division 750.018 - Climate Action Plan
100-12-122 - General Fund-City Manager-
Sustainability Division - - Completed
Administration 122 Sustainability Division 750.019 - Employee Commute Program
100-12-122 - General Fund-City Manager-
Sustainability Division - - Completed
Program
discontinued. No
funding.
Administration 122 Sustainability Division 750.069 - Sustainable Infrastructure Audit
100-12-122 - General Fund-City Manager-
Sustainability Division - - Not Started n/a
Administration 122 Sustainability Division
750.106 - Electric Cooking Workshop
Series
100-12-122 - General Fund-City Manager-
Sustainability Division - - In Progress 6/30/2024
Administration 122 Sustainability Division 750.176 - Climate AP Vision Summary Doc
100-12-122 - General Fund-City Manager-
Sustainability Division - - In Progress 6/30/2025
Administration 122 Sustainability Division 750.223 - CWP Electrification Study
100-12-122 - General Fund-City Manager-
Sustainability Division - - In Progress 6/30/2024
Administration
632 Comm Outreach &
Neigh Watch 750.056 - Neighborhood Engagement
100-12-632 - General Fund-City Manager-
Comm Outreach & Neigh Watch 64,405 - In Progress
Administration
632 Comm Outreach &
Neigh Watch 750.227 - CWP License Plate Readers
100-12-632 - General Fund-City Manager-
Comm Outreach & Neigh Watch 10,000 - In Progress
Administration 633 Disaster Preparedness 750.230 - Business Continuity Resilience
100-12-633 - General Fund-City Manager-
Disaster Preparedness 500,000 - Not Started
Administration 633 Disaster Preparedness 750.240 - MRC Rise
100-12-633 - General Fund-City Manager-
Disaster Preparedness 6,323 - In Progress
Administration
705 Economic
Development 750.103 - CWP Regulate Diversified Retail
100-12-705 - General Fund-City Manager-
Economic Development 5,000 - Cancelled
Administration
705 Economic
Development 750.179 - Econ Dev Strategy Outreach
100-12-705 - General Fund-City Manager-
Economic Development 20,000 - Cancelled
Administration
705 Economic
Development
750.221 - CWP Cupertino Store
Implementatn
100-12-705 - General Fund-City Manager-
Economic Development - 62 Cancelled
Administration
705 Economic
Development 750.230 - Business Continuity Resilience
100-12-705 - General Fund-City Manager-
Economic Development 485,000 - In Progress
Administrative
services 405 Accounting 750.189 - Fee Study
100-41-405 - General Fund-Finance-
Accounting 70,800 41,800 In Progress Feb-24
Administrative
services 426 Budgeting
750.217 - CWP Analyze Potential Rev
Measrs
100-41-426 - General Fund-Finance-
Budgeting 42,450 - In Progress Feb-24
Community
development
700 Community
Development Admin 750.104 - CWP Homeless Jobs Program
100-70-700 - General Fund-Planning &
Community Development-Community
Development Admin 176,935 46,604 In Progress
Community
development 701 Current Planning 750.007 - The Hamptons
100-71-701 - General Fund-Planning-
Current Planning 108,640 - Not Started
Community
development 701 Current Planning 750.009 - Marina Plaza
100-71-701 - General Fund-Planning-
Current Planning 23,317 - In Progress
221
CC 02-21-2024
221 of 456
FY 2023-24 Mid-Year Special Projects
Function Program
Base And Detail Account With Detail
Description Full Org Set Code And Description
Amended
Budget
Actual
Amount Status
Estimated
Complete
Notes (e.g.,
carried over to
next fiscal year)
Community
development 701 Current Planning 750.029 - Vallco SB35/Rise
100-71-701 - General Fund-Planning-
Current Planning 188,680 - In Progress
Community
development
702 Mid Long Term
Planning 750.032 - General Plan
100-71-702 - General Fund-Planning-Mid
Long Term Planning 239,805 - In Progress
Community
development
702 Mid Long Term
Planning 750.049 - MuniCode Updates
100-71-702 - General Fund-Planning-Mid
Long Term Planning 25,000 - In Progress
Community
development
702 Mid Long Term
Planning 750.090 - Residential/Mixed Use Design
100-71-702 - General Fund-Planning-Mid
Long Term Planning 202,216 5,147 In Progress
Community
development
702 Mid Long Term
Planning 750.101 - CWP RHNA and Gen Plan Update
100-71-702 - General Fund-Planning-Mid
Long Term Planning 1,026,581 330,914 In Progress
Community
development
702 Mid Long Term
Planning
750.135 - Laserfiche planning map
scanning
100-71-702 - General Fund-Planning-Mid
Long Term Planning 3,990 923 In Progress
Community
development
702 Mid Long Term
Planning 750.235 - CWP Tree List
100-71-702 - General Fund-Planning-Mid
Long Term Planning 50,000 - In Progress
Community
development
711 BMR Affordable
Housing Fund 750.051 - Support for the Unhoused
265-72-711 - BMR Housing-Housing
Services-BMR Affordable Housing Fund 100,000 - In Progress
Community
development
711 BMR Affordable
Housing Fund 750.052 - Develop ELI Housing
265-72-711 - BMR Housing-Housing
Services-BMR Affordable Housing Fund 238,386 - In Progress
Community
development 713 General Building
750.036 - Ongoing Bldg Recrd
scan/conversn
100-73-713 - General Fund-Building-
General Building 14,387 - In Progress
Community
development
714 Construction Plan
Check 750.031 - Westport
100-73-714 - General Fund-Building-
Construction Plan Check 98,739 5,285 In Progress
Community
development
714 Construction Plan
Check 750.067 - VTC
100-73-714 - General Fund-Building-
Construction Plan Check ######### - In Progress
Community
development 715 Building Inspection 750.067 - VTC
100-73-715 - General Fund-Building-
Building Inspection 5,406,634 - Not Started
Information
Services 300 Administration 750.197 - Aclima & Envirosuite Pilot Ext
610-30-300 - Innovation & Technology-I&T
Administration-Administration 66,000 - Completed
Information
Services 300 Administration 750.222 - CWP Cybersecurity Public Edu
610-30-300 - Innovation & Technology-I&T
Administration-Administration 7,500 1,317 Completed
Information
Services 300 Administration 750.227 - CWP License Plate Readers
610-30-300 - Innovation & Technology-I&T
Administration-Administration - - Cancelled
Information
Services 305 Video 900.945 - Fixed Asset Acquisition
100-31-305 - General Fund-I&T Video-
Video 40,316 - In Progress
Information
Services 305 Video 900.995 - Special Projects - CDD/I&T
100-31-305 - General Fund-I&T Video-
Video 40,891 8,215 In Progress
Information
Services 308 Applications 750.120 - Performance Management App
100-32-308 - General Fund-I&T
Applications-Applications 32,000 - Cancelled
Information
Services 308 Applications 750.123 - Redesign of City Website
100-32-308 - General Fund-I&T
Applications-Applications 20,700 2,719 In Progress
Information
Services 308 Applications 750.181 - ERP (Phase II)
100-32-308 - General Fund-I&T
Applications-Applications 94,076 24,910 Cancelled
222
CC 02-21-2024
222 of 456
FY 2023-24 Mid-Year Special Projects
Function Program
Base And Detail Account With Detail
Description Full Org Set Code And Description
Amended
Budget
Actual
Amount Status
Estimated
Complete
Notes (e.g.,
carried over to
next fiscal year)
Information
Services 308 Applications 750.183 - ACA Guide & Wrapper
100-32-308 - General Fund-I&T
Applications-Applications 25,000 - In Progress
Information
Services 308 Applications 750.184 - Accela Roadmap
100-32-308 - General Fund-I&T
Applications-Applications 23,000 - In Progress
Information
Services 308 Applications 750.186 - Consolidated Code Enf Services
100-32-308 - General Fund-I&T
Applications-Applications 22,408 22,133 Completed
Information
Services 308 Applications 750.236 - Project Dox
100-32-308 - General Fund-I&T
Applications-Applications 129,475 90,820 In Progress
Information
Services 308 Applications 750.237 - ERP (Phase III)
100-32-308 - General Fund-I&T
Applications-Applications 450,000 - Cancelled
Information
Services 310 Infrastructure 750.107 - Security Framework and Audit
610-34-310 - Innovation & Technology-I&T
Infrastructure-Infrastructure 60,000 18,938 In Progress
Information
Services 310 Infrastructure 750.124 - ActiveNet Additional Readers
610-34-310 - Innovation & Technology-I&T
Infrastructure-Infrastructure 9,000 10,999 Completed
Information
Services 310 Infrastructure 750.125 - Council Voting System and Timer
610-34-310 - Innovation & Technology-I&T
Infrastructure-Infrastructure 32,000 - Cancelled
Information
Services 310 Infrastructure 750.130 - Senior Center Access Controls
610-34-310 - Innovation & Technology-I&T
Infrastructure-Infrastructure - - In Progress
transferred
to Facilities
Information
Services 310 Infrastructure 750.171 - Quinlan Touch Screen
610-34-310 - Innovation & Technology-I&T
Infrastructure-Infrastructure 25,130 321 In Progress
Information
Services 310 Infrastructure 750.199 - City Facilities Video Capture
610-34-310 - Innovation & Technology-I&T
Infrastructure-Infrastructure 6,079 - In Progress
Information
Services 310 Infrastructure
750.200 - CH Ent Server & Storage Tech
Ref
610-34-310 - Innovation & Technology-I&T
Infrastructure-Infrastructure 150,000 150,000 Completed
Information
Services 310 Infrastructure 750.203 - Suppl Wi-Fi Exp in Public Areas
610-34-310 - Innovation & Technology-I&T
Infrastructure-Infrastructure 4,625 - Cancelled
Information
Services 310 Infrastructure 750.205 - Public Bike Smart Rack DockTech
610-34-310 - Innovation & Technology-I&T
Infrastructure-Infrastructure 2,000 - Cancelled
Information
Services 310 Infrastructure 900.945 - Fixed Asset Acquisition
610-34-310 - Innovation & Technology-I&T
Infrastructure-Infrastructure 40,037 - In Progress
Facility
Battery
Information
Services 986 GIS 750.166 - AR McClellan Ranch
610-35-986 - Innovation & Technology-I&T
GIS-GIS 26,667 2,000 In Progress 4/30/2024
Information
Services 986 GIS 750.207 - Additional Telematics Devices
610-35-986 - Innovation & Technology-I&T
GIS-GIS 5,300 5,300 Completed
Information
Services 986 GIS 750.211 - Drone Instructor Training
610-35-986 - Innovation & Technology-I&T
GIS-GIS 775 775 Completed
Information
Services 986 GIS 750.212 - Laserfiche Scanning
610-35-986 - Innovation & Technology-I&T
GIS-GIS 22,415 15,591 In Progress 4/30/2024
Information
Services 986 GIS 750.216 - CIP Management System
610-35-986 - Innovation & Technology-I&T
GIS-GIS 10,740 8,405 In Progress 3/30/2024
Information
Services 986 GIS 750.238 - VR Decarb
610-35-986 - Innovation & Technology-I&T
GIS-GIS 112,000 - In Progress 5/30/2024
223
CC 02-21-2024
223 of 456
FY 2023-24 Mid-Year Special Projects
Function Program
Base And Detail Account With Detail
Description Full Org Set Code And Description
Amended
Budget
Actual
Amount Status
Estimated
Complete
Notes (e.g.,
carried over to
next fiscal year)
Law enforcement
200 Law Enforcement SC
Sherif
750.227 - CWP Block Leader
Enhancements
100-20-200 - General Fund-Law
Enforcement-Law Enforcement SC Sherif 60,000 - In Progress
Public works 122 Sustainability Division 750.018 - Climate Action Plan
100-81-122 - General Fund-Environmental
Programs-Sustainability Division 1,236 - Completed
Public works 122 Sustainability Division 750.019 - Employee Commute Program
100-81-122 - General Fund-Environmental
Programs-Sustainability Division 2,586 4,618 Completed
Proram
discontunued.
No funding.
Public works 122 Sustainability Division 750.069 - Sustainable Infrastructure Audit
100-81-122 - General Fund-Environmental
Programs-Sustainability Division 10,000 - Not Started
Public works 122 Sustainability Division
750.106 - Electric Cooking Workshop
Series
100-81-122 - General Fund-Environmental
Programs-Sustainability Division 6,400 - In Progress 6/30/2024
Public works 122 Sustainability Division 750.176 - Climate AP Vision Summary Doc
100-81-122 - General Fund-Environmental
Programs-Sustainability Division 10,000 - In Progress 6/30/2025
Public works 122 Sustainability Division 750.223 - CWP Electrification Study
100-81-122 - General Fund-Environmental
Programs-Sustainability Division 50,000 - In Progress 6/30/2024
Public works 800 Public Works Admin 750.071 - Municipal Water System
100-80-800 - General Fund-PW
Administration-Public Works Admin 22,677 11,846 In Progress 8/1/2024
Public works 801 Resources Recovery 750.041 - HHW and PaintCare
520-81-801 - Resource Recovery-
Environmental Programs-Resources
Recovery 115,733 70,456 In Progress
Ongoing
annual
project
No completion
date
Public works 801 Resources Recovery 750.084 - Single Use Plastics Ordinance
520-81-801 - Resource Recovery-
Environmental Programs-Resources
Recovery 84,716 34,764 In Progress 6/30/2025
Public works 801 Resources Recovery
750.137 - SB1383 Procurement
Requirements
520-81-801 - Resource Recovery-
Environmental Programs-Resources
Recovery 112,742 - In Progress
Ongoing
annual
project
No completion
date
Public works 801 Resources Recovery
750.174 - New Lndfill Agrmnt/Solid Wst
con
520-81-801 - Resource Recovery-
Environmental Programs-Resources
Recovery 245,697 161,452 In Progress 8/31/2025
Public works 802 Non Point Source 750.196 - Storm Water (SWPPP) Update
230-81-802 - Env Mgmt Cln Crk Strm Drain-
Environmental Programs-Non Point Source 19,539 - Completed
Public works 804 Plan Review 750.039 - PW Scanning Project
100-82-804 - General Fund-
Developmental Services-Plan Review 39,713 21,129 In Progress 6/30/2024
Public works 804 Plan Review 750.067 - VTC
100-82-804 - General Fund-
Developmental Services-Plan Review 1,961,366 - In Progress Ongoing
No completion
date
Public works 804 Plan Review 750.105 - CWP Revisit 5G
100-82-804 - General Fund-
Developmental Services-Plan Review 250,000 - In Progress 9/30/2024
224
CC 02-21-2024
224 of 456
FY 2023-24 Mid-Year Special Projects
Function Program
Base And Detail Account With Detail
Description Full Org Set Code And Description
Amended
Budget
Actual
Amount Status
Estimated
Complete
Notes (e.g.,
carried over to
next fiscal year)
Public works
807 Service Center
Administration 750.043 - Office Reconfiguration
100-83-807 - General Fund-Service Center-
Service Center Administration 189,861 50,445 In Progress
Ongoing
annual
project
No completion
date
Public works 808 McClellan Ranch Park 750.025 - Special Maintenance
100-84-808 - General Fund-Grounds-
McClellan Ranch Park 70,000 - Completed
Public works 808 McClellan Ranch Park
750.138 - 4H Perimeter Fence
Replacement
100-84-808 - General Fund-Grounds-
McClellan Ranch Park 30,000 24,600 Completed
Public works
812 School Site
Maintenance 750.025 - Special Maintenance
100-84-812 - General Fund-Grounds-
School Site Maintenance 20,000 - In Progress 6/30/2024
Public works 813 Neighborhood Parks 750.074 - Tot Lot Rubber Resurfacing
100-84-813 - General Fund-Grounds-
Neighborhood Parks 17,824 - Completed
Public works 813 Neighborhood Parks 750.141 - Basketball Court Resurfacing
100-84-813 - General Fund-Grounds-
Neighborhood Parks 20,000 20,000 Completed
Public works 813 Neighborhood Parks 900.990 - Special Projects - PW
100-84-813 - General Fund-Grounds-
Neighborhood Parks 25,000 24,100 Completed
Public works
814 Sport Fields Jollyman
CRK 750.140 - Backflow Prevention Device Repl
100-84-814 - General Fund-Grounds-Sport
Fields Jollyman CRK 4,000 - In Progress 6/30/2024
Public works
814 Sport Fields Jollyman
CRK 750.141 - Basketball Court Resurfacing
100-84-814 - General Fund-Grounds-Sport
Fields Jollyman CRK 10,000 10,000 Completed
Public works
820 Sidewalk Curb and
Gutter 750.020 - Annual Sidewalk Curb & Gutter
270-85-820 - Transportation Fund-Streets-
Sidewalk Curb and Gutter 2,868,400 724,222 In Progress 6/30/2025
Public works
821 Street Pavement
Maintenance 900.921 - Annual Asphalt Project
270-85-821 - Transportation Fund-Streets-
Street Pavement Maintenance 5,600,754 14,370 Not Started
Public works
824 Overpasses and
Medians 750.194 - Trench Work
100-86-824 - General Fund-Trees and
Right of Way-Overpasses and Medians 40,000 - Completed
Public works
825 Street Tree
Maintenance 750.235 - CWP Tree List
100-86-825 - General Fund-Trees and
Right of Way-Street Tree Maintenance 60,000 - In Progress 6/30/2024
Collaborating
with CDD
Public works
825 Street Tree
Maintenance 900.911 - Trees and Badges
100-86-825 - General Fund-Trees and
Right of Way-Street Tree Maintenance 16,263 325 In Progress
Ongoing
annual
project
No completion
date
Public works 827 Bldg Maint City Hall 750.144 - Electrical Preventive Maint
100-87-827 - General Fund-Facilities and
Fleet-Bldg Maint City Hall 25,000 - Completed
Public works 828 Bldg Maint Library 750.025 - Special Maintenance
100-87-828 - General Fund-Facilities and
Fleet-Bldg Maint Library 45,000 - In Progress 6/30/2024
Public works
829 Bldg Maint Service
Center 750.025 - Special Maintenance
100-87-829 - General Fund-Facilities and
Fleet-Bldg Maint Service Center 40,000 - In Progress 6/30/2024
Public works
829 Bldg Maint Service
Center 900.990 - Special Projects - PW
100-87-829 - General Fund-Facilities and
Fleet-Bldg Maint Service Center 233,963 - Completed
Public works
830 Bldg Maint Quinlan
Center 750.025 - Special Maintenance
100-87-830 - General Fund-Facilities and
Fleet-Bldg Maint Quinlan Center 85,000 - In Progress 6/30/2024
Public works
831 Bldg Maint Senior
Center 750.025 - Special Maintenance
100-87-831 - General Fund-Facilities and
Fleet-Bldg Maint Senior Center 121,675 - Not Started 6/30/2024
225
CC 02-21-2024
225 of 456
FY 2023-24 Mid-Year Special Projects
Function Program
Base And Detail Account With Detail
Description Full Org Set Code And Description
Amended
Budget
Actual
Amount Status
Estimated
Complete
Notes (e.g.,
carried over to
next fiscal year)
Public works
831 Bldg Maint Senior
Center 900.945 - Fixed Asset Acquisition
100-87-831 - General Fund-Facilities and
Fleet-Bldg Maint Senior Center 65,835 65,259 Completed
Public works
832 Bldg Maint McClellan
Ranch 750.025 - Special Maintenance
100-87-832 - General Fund-Facilities and
Fleet-Bldg Maint McClellan Ranch 101,347 - In Progress 6/30/2024
Public works 834 Bldg Maint Wilson 750.025 - Special Maintenance
100-87-834 - General Fund-Facilities and
Fleet-Bldg Maint Wilson 7,000 - Not Started 6/30/2024
Public works
836 Bldg Maint Sports
Center 750.025 - Special Maintenance
570-87-836 - Sports Center-Facilities and
Fleet-Bldg Maint Sports Center 50,494 6,789 In Progress 6/30/2024
HVAC is the only
project left
Public works
836 Bldg Maint Sports
Center 750.157 - Door Refinishing
570-87-836 - Sports Center-Facilities and
Fleet-Bldg Maint Sports Center 10,775 14,337 Completed
Public works
836 Bldg Maint Sports
Center 900.990 - Special Projects - PW
570-87-836 - Sports Center-Facilities and
Fleet-Bldg Maint Sports Center - - Completed
Public works 837 Bldg Maint Creekside 750.025 - Special Maintenance
100-87-837 - General Fund-Facilities and
Fleet-Bldg Maint Creekside 12,000 - Completed
Public works 837 Bldg Maint Creekside 900.990 - Special Projects - PW
100-87-837 - General Fund-Facilities and
Fleet-Bldg Maint Creekside - - Completed
Public works
841 BBF Facilities
Maintenance 750.025 - Special Maintenance
100-87-841 - General Fund-Facilities and
Fleet-BBF Facilities Maintenance 25,000 - Not Started
Public works
841 BBF Facilities
Maintenance 900.990 - Special Projects - PW
100-87-841 - General Fund-Facilities and
Fleet-BBF Facilities Maintenance - 6,803 Completed
Public works 844 Traffic Engineering 750.040 - Planned Transportation Project
100-88-844 - General Fund-Transportation-
Traffic Engineering 56,023 16,025 In Progress 6/30/2024
Public works 844 Traffic Engineering
750.061 - Community Shuttle Pilot
Program
100-88-844 - General Fund-Transportation-
Traffic Engineering 10,574 - Completed
Public works 844 Traffic Engineering 750.079 - Adaptive Traffic Signaling
100-88-844 - General Fund-Transportation-
Traffic Engineering 18,443 12,473 Completed
Public works 844 Traffic Engineering 750.163 - VMT to LOS Standards
100-88-844 - General Fund-Transportation-
Traffic Engineering 130,000 - In Progress 6/30/2025
Public works 844 Traffic Engineering 750.219 - CWP Bicycle Facilities
100-88-844 - General Fund-Transportation-
Traffic Engineering 50,000 - Not Started 6/30/2024
Public works 844 Traffic Engineering 750.231 - SC Corridor Vision Study
100-88-844 - General Fund-Transportation-
Traffic Engineering 154,079 - In Progress 6/30/2025
Public works 844 Traffic Engineering 750.242 - AC2 Traffic Monitoring
100-88-844 - General Fund-Transportation-
Traffic Engineering - 27,033 In Progress 6/30/2025
Public works 844 Traffic Engineering 900.923 - Apple Campus 2
100-88-844 - General Fund-Transportation-
Traffic Engineering 77,340 - Completed
Public works 844 Traffic Engineering
900.964 - I-280/Wolfe Rd Interchange
Imprv
100-88-844 - General Fund-Transportation-
Traffic Engineering 800,000 800,000 In Progress
Est.
completion
date
unknown
Public works
845 Traffic Signal
Maintenance 750.079 - Adaptive Traffic Signaling
100-88-845 - General Fund-Transportation-
Traffic Signal Maintenance 16,042 - Completed
226
CC 02-21-2024
226 of 456
FY 2023-24 Mid-Year Special Projects
Function Program
Base And Detail Account With Detail
Description Full Org Set Code And Description
Amended
Budget
Actual
Amount Status
Estimated
Complete
Notes (e.g.,
carried over to
next fiscal year)
Public works
845 Traffic Signal
Maintenance 900.945 - Fixed Asset Acquisition
100-88-845 - General Fund-Transportation-
Traffic Signal Maintenance - 41,529 Completed
Public works 846 Safe Routes 2 School 750.080 - Pedestrian Education
100-88-846 - General Fund-Transportation-
Safe Routes 2 School 10,118 10,118 Completed
Public works 848 Street Lighting 900.990 - Special Projects - PW
100-85-848 - General Fund-Streets-Street
Lighting 230,000 171,163 In Progress 8/30/2024
Public works 853 Storm Drain Fee 750.062 - Permeable Pavement
230-81-853 - Env Mgmt Cln Crk Strm Drain-
Environmental Programs-Storm Drain Fee - - Completed
Defunded by
council 6/6/23
Public works 853 Storm Drain Fee 750.063 - Rainwater Capture
230-81-853 - Env Mgmt Cln Crk Strm Drain-
Environmental Programs-Storm Drain Fee 47,719 12,369 In Progress
Ongoing
annual
project
No completion
date
Public works 854 General Fund Subsidy 750.064 - Low Income Cost Share
230-81-854 - Env Mgmt Cln Crk Strm Drain-
Environmental Programs-General Fund
Subsidy 13,162 (52)In Progress
Ongoing
annual
project
No completion
date
Public works 854 General Fund Subsidy 750.065 - CUSD Joint Use Cost Share
230-81-854 - Env Mgmt Cln Crk Strm Drain-
Environmental Programs-General Fund
Subsidy 8,706 - In Progress
Ongoing
annual
project
No completion
date
Public works
855 Storm Drain
Maintenance 900.945 - Fixed Asset Acquisition
230-81-855 - Env Mgmt Cln Crk Strm Drain-
Environmental Programs-Storm Drain
Maintenance 131,000 128,895 Completed
Rover storm
drain camera
purchase
Public works
985 Fixed Assets
Acquisition 900.945 - Fixed Asset Acquisition
630-90-985 - Vehicle/Equip Replacement -
Citywide - Non Departmental-Fixed Assets
Acquisition 1,264,468 130,222 In Progress
Ongoing
annual
project
Recreation
services
601 Rec & Comm Svcs
Administration 750.098 - CWP Senior Strategy
100-60-601 - General Fund-Administration-
Rec & Comm Svcs Administration 41,378 32 In Progress June 2024
Senior Survey
Assessment
Recreation
services
601 Rec & Comm Svcs
Administration 750.164 - CWP Dogs Off Leash Area
100-60-601 - General Fund-Administration-
Rec & Comm Svcs Administration 5,000 123 In Progress June 2024
Recreation
services
601 Rec & Comm Svcs
Administration
750.226 - CWP Intergenerational
Engagement
100-60-601 - General Fund-Administration-
Rec & Comm Svcs Administration - - Completed June 2023
Completed
previous FY.
Recreation
services
601 Rec & Comm Svcs
Administration 750.241 - Senior Svcs & Youth Engagement
100-60-601 - General Fund-Administration-
Rec & Comm Svcs Administration 20,000 239 In Progress June 2024
Recreation
services
621 Sports Center
Operation 900.959 - Windscreens
570-63-621 - Sports Center-Sports, Safety
and Outdoor Rec-Sports Center Operation 72,853 72,162 Completed
September
2023
227
CC 02-21-2024
227 of 456
Department Name of Grant Description of Grant
Requested
Grant
Amount
Date
Applied
Date
Due Staff Contact
Status (Grant
Awarded,
Pending
Results, Grant
Denied)
Grant Amount
Awarded Date Awarded
Administration National Association of City and
County Health Officials (NACCHO)
Respond, Innovate, Sustain, and
Equip (RISE) Awards
To provide resources to the
MRC network to support
COVID‐19 response efforts.
$25,000 3/4/2022 3/4/2022 Thomas Chin Grant
Awarded
$25,000 8/11/2022
Administration Local Governments: Connecting
Neighbors to Neighbors
California Office of the
Governor, CalVolunteers
program funding for the Block
Leader Program to hold events
that expand networks of
neighbors within the
community
$222,233 6/16/2023 6/16/2023 Tom Chin / Marta
Drown
Grant
Awarded
$222,233 7/17/2023
Administration/
Public Works
Community Decarbonization
Engagement Grant
Competitive grant for
community engagement around
decarbonization topics from
SVCE. Grant Funds shall be
disbursed to Recipient on a
reimbursement basis.
$100,000 4/1/2022 4/4/2022 Teri
Gerhardt/Victoria
Morin/Adam
Araza/Ursula
Syrova
Grant
Awarded
111,500 2/2/2023
Community
Development
Department
Santa Clara County Permanent
Local Housing Allocation (PLHA)
Consortium
CA Dept of Housing &
Community Development
(HCD)
$165,510 12/15/2021 12/30/2021 Alec Vybiral Grant
Awarded to
County PLHA
Consortium
$165,510 N/A
Community
Development
Department
Santa Clara County Permanent
Local Housing Allocation (PLHA)
Consortium
CA Dept of Housing &
Community Development
(HCD)
$257,254 12/15/2021 12/30/2021 Alec Vybiral Grant
Awarded to
County PLHA
Consortium
$257,254 N/A
Community
Development
Department
2020 Local Early Action Planning
(LEAP) Grants Program
CA Dept of Housing &
Community Development
(HCD) funding to accelerate
progress of Housing Element
towards state housing goals
$300,000 7/1/2020 7/1/2020 Piu Ghosh Grant
Awarded
$300,000 10/6/2020
Information &
Technology
California Automated Permit
Processing (CalAPP) Program
Grant to enhance solar
permitting applications.
$60,000 3/13/2023 7/1/2027 Marilyn Pavlov,
Nidhi Mathur
Grant
Awarded
$60,000 4/4/2023
Information &
Technology and
Community
Development
Department
Dept. of Housing and Community
Development
Financial assistance for
implementation of softwares
that accelerate and streamline
Housing Production
$310,000 3/20/2020 12/31/2022 Nidhi Mathur Grant
Awarded
$310,000 3/24/2020
Competitive Citywide Grants Tracking - FY24 Mid-Year Update
22
8
CC 02-21-2024
228 of 456
Department Name of Grant Description of Grant
Requested
Grant
Amount
Date
Applied
Date
Due Staff Contact
Status (Grant
Awarded,
Pending
Results, Grant
Denied)
Grant Amount
Awarded Date Awarded
Competitive Citywide Grants Tracking - FY24 Mid-Year Update
Public Works California Electric Vehicle
Infrastructure Project
Purchase and installation of EV
charging infrastructure at
publicly‐owned sites ($4,500 per
charging port)
$130,500 12/22/2020 12/22/2020 Susan Michael or
Chad Mosley
Funds
Partially
Reserved
$130,500 N/A
Public Works TIRCP (Transit and Intercity Rail
Program)
5‐year expansion of Via shuttle,
including partnership with City
of Santa Clara
$8,465,000 3/3/2022 3/8/2022 David Stillman Grant
Awarded
$8,465,000 7/11/2022
Public Works HSIP (Highway Safety
Improvement Program)
Improving safety at signalized
intersections
$2,005,900 9/12/2022 9/12/2022 David Stillman Grant denied N/A N/A
Public Works HSIP (Highway Safety
Improvement Program)
Improving safety on roadway
segments
$3,561,800 9/12/2022 9/12/2022 David Stillman Grant
Awarded
$3,205,620 3/15/2023
Public Works HSIP (Highway Safety
Improvement Program)
Improving safety on roadway
segments
$4,450,200 9/12/2022 9/12/2022 David Stillman Grant denied N/A N/A
Public Works OBAG (One Bay Area Grant) Cycle
3
De Anza Blvd buffered bike
lanes
$500,000 7/27/2022 7/27/2022 David Stillman Grant denied N/A N/A
Public Works Safe Streets 4 All (SS4A) Bollinger Road road diet traffic
analysis, outreach and
engineering design
$532,000 7/10/2023 7/10/2023 David Stillman Grant
Awarded
$425,600 12/13/2023
Public Works Federal Community Project Funding
Grant FY22
Funding for Cupertino Library
Expansion project
$1,000,000 3/25/2021 6/10/2022 Chad Mosley Grant
Awarded
$1,000,000 N/A
Public Works
Federal Community Project Funding
Grant FY22
Funding for Jollyman All
Inclusive Play Area
$1,000,000 4/25/2022 6/10/2022 Chad Mosley Grant Denied $1,000,000 N/A
Public Works
State Specified Grant
Funding for Jollyman All
Inclusive Play Area
$1,000,000 3/17/2022 7/1/2022 Susan Michael Grant
Awarded
$1,000,000 N/A
Public Works
PG&E Community Grant
Funding for Jollyman All
Inclusive Play Area
$25,000 8/8/2022 9/1/2022 Susan Michael Grant
Awarded
$25,000 10/3/2022
Public Works
Santa Clara County AIPG
Funding for Jollyman All
Inclusive Play Area
$1,440,000 10/10/2018 10/12/2018 Susan Michael Grant
Awarded
$1,440,000 5/13/2019
Public Works McClellan Road Bridge
Reconstruction
State Funding Grant $7,500,000 3/17/2022 7/1/2022 Chad Mosley Grant
Awarded
$5,000,000 N/A
Public Works McClellan Road Bridge
Reconstruction
Federal Funding Grant ‐ Ro
Khanna
$2,500,000 3/14/2023 3/17/2023 Chad Mosley Pending
Results
Public Works TDA3 Funding for Tamien Innu (I‐280
Trail)‐East
$1,015,022 12/1/2021 12/1/2021 David Stillman
and Susan
Michael
Grant
Awarded
$1,015,022 5/25/2022
Public Works TDA3 Funding for De Anza Blvd
Buffered Bike Lanes
$166,259 5/24/2023 5/26/2023 Marlon
Aumentado
Grant
Awarded
$166,259 10/5/2023
22
9
CC 02-21-2024
229 of 456
Department Name of Grant Description of Grant
Requested
Grant
Amount
Date
Applied
Date
Due Staff Contact
Status (Grant
Awarded,
Pending
Results, Grant
Denied)
Grant Amount
Awarded Date Awarded
Competitive Citywide Grants Tracking - FY24 Mid-Year Update
Public Works 2016 Measure B Capital Projects Funding for Tamien Innu (I‐280
Trail)‐East
$920,978 12/1/2021 12/1/2021 David Stillman
and Susan
Michael
Grant
Awarded
$920,978 11/12/2021
Public Works 2016 Measure B Capital Projects Funding for Tamien Innu (I‐280
Trail)‐Central
$460,000 7/1/2020 7/1/2020 David Stillman
and Susan
Michael
Grant
Awarded
$460,000 7/14/2020
Public Works 2016 Measure B Capital Projects Funding for Tamien Innu (I‐280
Trail)‐Central
$3,725,000 7/1/2020 7/1/2020 David Stillman
and Susan
Michael
Pending
Results
$3,725,000 N/A
Public Works Sustainable Transportation Planning
Grant
Bollinger Road road diet traffic
analysis, outreach and
engineering design
$318,707 3/14/2023 3/14/2023 David Stillman Grant Denied N/A N/A
Public Works 2016 Measure B Noise Abatement
Program
Funding for Tamien Innu (I‐280
Trail)‐Central
$15,000 3/23/2023 3/31/2023 Evelyn Moran
and David
Stillman
Grant Denied N/A N/A
Public Works BPMP (Bridge Preventative
Maintenance Program)
Funding for recommended
preventative maintenance on
local roadway bridges
$1,144,472 9/30/2020 N/A Susan Michael
and Suyesh
Shrestha
Grant
Awarded
$1,144,472 4/12/2023
Public Works HBP (Highway Bridge Program) Repairs to bridge 37C0011, SCB
over Stevens Creek
$688,000 10/5/2018 N/A Susan Michael
and Suyesh
Shrestha
Grant
Awarded
$688,000 10/12/2018
Public Works State of California Proposition 68 Funding for Wilson Park
Basketball Court
$214,549 12/6/2021 N/A Susan Michael Grant
Awarded
$214,549 1/21/2022
Public Works ‐
Environmental
Programs Division
EPA Recycling Education and
Outreach
Improve the effectiveness of
residential and community
recycling and composting
programs through public
education and outreach.
Increase collection rates and
decrease contamination across
the nation
$1,400,000 2/15/2023 2/15/2023 Ursula Syrova Denied N/A N/A
Public Works and
Administration
CalOES Hazard Mitigation Grant
Program Project Subapplication
Cupertino Civic Center Plaza
Microgrid study and
construction
$979,402 6/17/2021 6/17/2021 Thomas Chin,
Susan Michael
Grant
Awarded
N/A N/A
23
0
CC 02-21-2024
230 of 456
Department Name of Grant Description of Grant Grant Amount
Date
Applied
Date
Due Staff Contact
Status
(Grant
Awarded,
Pending
Results,
Grant
Denied)
Grant Amount
Awarded Date Awarded
Administration
/Public Works
Energy Efficiency Community Block
Grant
EECBG funds for use in developing energy efficiency
services or strategies, code enforcement, other uses 139,518$ N/A 4/28/2023
Ursula Syrova and
Victoria Morin
Pending
Results 139,518$
Dates and exact
amount not yet
known
Administration Reach Codes/Building Codes
Silicon Valley Clean Energy grant to support reach
codes development 10,000$ 3/18/2022 4/30/2022
Ursula Syrova and
Victoria Morin
Grant
Reserved 10,000$ 11/30/2022
Community
Development
Department Homeless Services and Supports
A matching grant of $50,000 for the City of Cupertino,
which currently funds several assistance programs for
unhoused residents. These programs include Haven
to Home, a program run by West Valley Community
Services that offers bus passes, laundry quarters,
hygiene kits, foods assistance, and other forms of
assistance, as well as a Rotating Safe Car Park
program that serves Saratoga and Cupertino and is
operated by Amigos de Guadalupe and West Valley
Community Services. 50,000$ 5/10/2023 5/10/2023
Thomas Chin, Alec
Vybiral Awarded 50,000$ 5/10/2023
Community
Development
Department
Community Development Block Grant
(CDBG)
U.S. Dept of Housing & Urban Development (HUD)
Federal Entitlement Allocation ‐ FY 2021‐22 412,800$
8/26/2021 Annually:
6/30 Alec Vybiral
Grant
Awarded $ 412,800 2/25/2021
Community
Development
Department
Community Development Block Grant
(CDBG)
U.S. Dept of Housing & Urban Development (HUD)
Federal Entitlement Allocation ‐ FY 2022‐23 388,459$ 10/5/2022
Annually:
6/30 Alec Vybiral
Grant
Awarded 388,459$ 9/26/2022
Community
Development
Department
Community Development Block Grant
(CDBG)
U.S. Dept of Housing & Urban Development (HUD)
Federal Entitlement Allocation ‐ FY 2023‐24 358,910$ N/A
Annually:
6/30 Alec Vybiral
Grant
Awarded 358,910$ 7/21/2023
Community
Development
Department CDBG‐CV CARES Act Funding
U.S. Dept of Housing & Urban Development (HUD)
Emergency COVID Allocation 553,939$ 8/26/2021 6/30/2022 Alec Vybiral
Grant
Awarded 553,939$ 8/20/2021
Community
Development
Department
Santa Clara County Home Investment
Partnerships Program (HOME)
Consortium
U.S. Dept of Housing & Urban Development (HUD)
Federal Entitlement Allocation 993,289$ N/A
Annually:
6/30 Alec Vybiral
Grant
Awarded to
County
HOME
Consortium 993,289$ 2/25/2021
Community
Development
Department
Santa Clara County Home Investment
Partnerships Program (HOME)
Consortium
U.S. Dept of Housing & Urban Development (HUD)
Federal Entitlement Allocation 1,083,978$ N/A
Annually:
6/30 Alec Vybiral
Grant
Awarded to
County
HOME
Consortium 1,083,978$ 9/26/2022
Community
Development
Department
Regional Early Action Planning ( REAP)
Grants of 2021
CA Dept of Housing & Development (HCD) funding
and technical assistance for implementation of
sodtware to help streamline housing approvals 52,613$ 11/1/2022 11/1/2022 Piu Ghosh
Grant
Awarded 52,613$ 12/1/2022
Innovation and
Technology
California Automated Permit Processing
(CalAPP) Program
CalAPP is proving a one time grant for the
enhancement of Solar permit applications 60,000$ 2/15/2023 5/31/2027 Nidhi Mathur
Grant
Awarded 60,000$ 4/4/2023
Non-Competitive Citywide Grants Tracking - FY24 Mid-Year Update
23
1
CC 02-21-2024
231 of 456
Department Name of Grant Description of Grant Grant Amount
Date
Applied
Date
Due Staff Contact
Status
(Grant
Awarded,
Pending
Results,
Grant
Denied)
Grant Amount
Awarded Date Awarded
Non-Competitive Citywide Grants Tracking - FY24 Mid-Year Update
Parks and
Recreation
Community Fourth of July Fireworks
Events
The County of Santa Clara allocates a total of $25,000
to sponsor up to two fireworks events in each of the
five supervisorial districts ($5,000 per district). The
County’s fireworks grant program, which was
suspended for three years during the COVID‐19
pandemic, returns for 2023.5,000$ 3/15/2023 3/31/2023 Jacinta Liang Awarded 3,750$ 5/2/2023
Public Works
Bicycle/Pedestrian Education &
Encouragement 2016 Measure B 33,090$ 9/8/2022 N/A
Cherie Walkowiak/
David Stillman
Grant
Awarded 33,090$ 9/29/2022
Public Works
Sustainable Infrastructure/Energy
Resiliency Grant To support energy resiliency capital improvements 255,798$ 6/29/2022 N/A
Susan
Michael/Chad
Mosley
Grant
Awarded 255,798$ 6/29/2022
Public Works
Community Resilience Program ‐ Capital
Projects Grant with SVCE
Grant to purchase two transportable EV Solar
Charging infrastructure and trailer units.223,665$ 11/8/2023 N/A Jimmy Tan
Grant
Awarded 223,665$
Agreement has yet
to be executed
Public Works
CalRecycle SB 1383 Local Assistance
Grant Program ‐ 2022 cycle
Grant program meant to provide aid in the
implementation of regulation requirements associated
with SB 1383. 83,693$ 1/21/2022 2/1/2022 Ursula Syrova
Grant
Awarded 83,693$ 4/27/2022
Public Works
CalRecycle Beverage Container Recycling
City/County Payment Program
Provide opportunities for beverage container
recycling. Allowable uses include 2 staff attending
annual CA Resource Recovery Association conference,
water refill stations, and recycling receptacles. 14,812$
Funds must be
expensed
between
5/03/2022 ‐
4/1/2024 Annually:
dates vary Ursula Syrova
Grant
Awarded 14,812$ 5/28/2021
Public Works
CalRecycle Beverage Container Recycling
City/County Payment Program
Provide opportunities for beverage container
recycling. Allowable uses include 2 staff attending
annual CA Resource Recovery Association conference,
water refill stations, and recycling receptacles. 15,158$
Funds must be
expensed
between
4/13/2023‐
3/1/2025 Annually:
dates vary Ursula Syrova
Grant
Awarded 15,158$ 4/13/2023
Public Works
CalRecycle Beverage Container Recycling
City/County Payment Program
Provide opportunities for beverage container
recycling. Allowable uses include 2 staff attending
annual CA Resource Recovery Association conference,
water refill stations, and recycling receptacles. Pending Pending
Annually:
dates vary Ursula Syrova Pending Pending Pending
Public Works
CalRecycle SB 1383 Local Assistance
Grant Program ‐ 2023 cycle
Grant program meant to provide aid in the
implementation of regulation requirements associated
with SB 1383. 116,401$ 11/14/2023 11/15/2023
Ursula
Syrova/Steven
Hirsch
Under
Review Pending Pending
23
2
CC 02-21-2024
232 of 456
CIP PROJECT UPDATE February 12, 2024
Program Overview, Accomplishments & Status
The Capital Improvement Program (CIP) Administration Division provides design and
construction administration for all capital improvement projects including streets, sidewalks,
storm drainage, buildings, parks, bicycle and pedestrian improvements and other public facilities.
The Division ensures that all public improvements are designed and constructed in accordance
with community expectations and City standards. The Division places safety of the public, City
employees, and workers as the highest priority in the delivery of capital projects.
Q2 - FY2023 – 2024 (October - December 2023)
Status of Current CIP Projects
The categories below directly correlate to the categories in the FY23-28 CIP Schedule. Furthermore, the
projects are color-coded to illustrate the type of project. These ‘types’ are somewhat intuitively, rather than
effectively ascribed to the projects, as many projects would fall into multiple categories.
Facilities related CIP Projects (orange) – 6 active projects, 1 queued
Streets and Grounds related CIP Projects (red) – 4 active projects, 3 completed
Traffic, Bike and Pedestrian related CIP Projects (blue) – 5 active projects, 1 queued
Parks and Recreation System related CIP Projects (green) - 6 active projects, 3 completed
Total: 21 active projects, 6 completed, 2 queued (on hold).
ACTIVE PROJECTS
Project Title Description Current
Phase
Scheduled
Completion
Status/Notes
DeAnza Blvd
Buffered Bike
Lanes
Restripe De Anza Blvd to
include a painted buffered
zone between the existing
bike lane and the vehicle
lanes.
Construction July 2024 Construction planned for
April or May 2024, and
is planned to be
coordinated with the
McClelland Road Bike
Corridor project.
233
CC 02-21-2024
233 of 456
Page 2 February 12, 2024
ACTIVE PROJECTS (continued)
Project Title Description Current
Phase
Scheduled
Completion
Status/Notes
McClellan Road
Separated Bike
Corridor, Phase
3
Improve pedestrian and
bicycle safety by
reconfiguring the intersection
and vehicle movements.
(Externally Funded, in part)
Construction July 2024 Construction began in
January 2024.
School Walk
Audit
Implementation
Construct infrastructure
related improvements around
schools that were identified as
part of the comprehensive
School Walk Audit study.
(Externally Funded, in part)
Ongoing/
Construction
Ongoing
Stevens Creek
Boulevard CL
IV Bikeway -
Phase 2 –
Design &
Construction
Design and Construction of
the separated bikeway along
Stevens Creek Blvd from
Wolfe Road to DeAnza Blvd
(2A) and De Anza Blvd to US-
85 (2B). This includes signal
upgrades at Bandley Drive.
(Externally Funded, in part)
Bid 2024/2025 Phase 2A Construction
will be posted for public
bid process once
additional grant funding
is secured. Phase 2B
Design is underway.
Tamien Innu
(Trail) – East &
Central
Segments
Design and construct an off-
street bicycle and pedestrian
facility parallel to the I-280
HWY, from De Anza Blvd.
Wolfe Road (Central), from
Wolfe Rd. to Vallco Parkway
(East) (Externally Funded)
Design Late 2024 for
East
segment;
2025 for
Central
Segment
East segment will
continue into Final
Documentation once
Valley Water approves
the design. Design phase
for Central segment is
paused while the east
segment design is
finalized. The CEQA
process is complete.
ADA
Improvements
This is an ongoing program
funded annually to improve
accessibility at all public
facilities throughout the City.
(Multi-year funding)
Design Ongoing Undertaking
improvements at
Jollyman Park and
Creekside Park
City Hall and
Community
Hall
Improvements
(Programming
and Feasibility)
Programming, Feasibility and
Community Outreach to form
the basis of a renovation
strategy for the buildings.
Feasibility/
Report
TBD Understanding of the
overall City financial
issues must advance
before this project can
progress.
234
CC 02-21-2024
234 of 456
Page 3 February 12, 2024
ACTIVE PROJECTS (continued)
Project Title Description Current
Phase
Scheduled
Completion
Status/Notes
Citywide
Building
Condition
Assessment
Implementation
& Report
Update
Implement recommendations
identified as a priority in the
Comprehensive Facility
Condition and Use
Assessment.
Construction/
Ongoing,
Ongoing • Sports Center Fire
Panel Replacement:
work is awaiting final
inspection.
• 2018 Report
Update/Dashboard
creation: report
complete.
• Senior Center Fire
Alarm System: RFP
will be issued for
Engineering services.
• CIP is developing
scope documents for
repairs needed in
Locker/ Shower
rooms.
Electric Vehicle
Parking
Expansion
Expansion of the existing
level 2 charging ports at
municipal properties.
Procurement April 2024 Project was defunded in
FY23. However, SVCE
grant funding is being
used to acquire portable
solar-powered EVCS.
Procurement is
underway.
Library
Expansion
Project
Develop a design and
construct a 5600 SF addition
to the existing Library
building.
Building:
complete.
Landscaping:
Ready for
Bid
TBD Courtyard and
Landscaping scope can
resume once Grant
funding ($1M) is
received. Building
construction is
complete. Donor Wall is
complete, but minor
repairs are required.
SV Hopper
EVCS
Provide electric vehicle
charging stations (EVCS) for
SV Hopper (formerly VIA)
fleet.
Engineering analysis
underway.
235
CC 02-21-2024
235 of 456
Page 4 February 12, 2024
ACTIVE PROJECTS (continued)
Project Title Description Current
Phase
Scheduled
Completion
Status/Notes
All Inclusive
Play Area &
Adult Assistive
Bathroom
Facility
(Jollyman Park)
At Jollyman Park, Design
and construct an all-inclusive
playground and an adult-
assistive bathroom facility
adjacent to the new AIPG.
(Externally Funded, in part)
Design Fall 2024 Construction
documentation is
complete. Permit
application and Bid
processes are
underway.
Annual
Playground
Replacement
Replacement of older
playground equipment that
is dated and worn. (Multi-
year funding)
Procurement
– Various
locations
Ongoing Creekside School Age
Lot – Equipment
arrives in February
2024. Next: RFPs for
Little Rancho and
Canyon Oaks
playgrounds.
Blackberry
Farm Pool
Improvements
Make improvements to the
pools and facility related to
safety, accessibility, and
maintenance.
Construction
& Bid
June 2024 Pool scope: Pool
replastering and other
repairs are under
construction. ADA
scope: contract
execution underway;
work will begin in
March 2024.
Lawrence-
Mitty Park and
Trail
Design and construct a new
neighborhood park. Located
on 7.8 acres adjacent to
Saratoga Creek, near
intersection of Lawrence
Expressway and Mitty Way.
Design Master Plan
Phase: June
2024
Draft IS/MND is
published for 30day
public review
(Feb/March 2024).
Commissions and
Council review/
approval will follow.
Memorial Park
- Specific Plan
Design
Following the findings of the
Master Plan process, develop
a conceptual design for Phase
One features and amenities.
Design June 2024 IS/MND Addendum is
complete. Staff will
bring this to Parks &
Rec Commission in
March, and Council in
April 2024.
236
CC 02-21-2024
236 of 456
Page 5 February 12, 2024
ACTIVE PROJECTS (continued)
Project Title Description Current
Phase
Scheduled
Completion
Status/Notes
Park Amenity
Improvements
Funding for various park
amenities such as benches,
hydration stations, outdoor
table tennis, cornhole, shade
structures, pickleball striping,
etc. (Multi-year funding)
Procurement Ongoing More benches
purchased for Jollyman
and Linda Vista DOLA
areas. Portal Park’s
large BBQ is being
reconstructed.
City Bridge
Maintenance
Repairs
Repair 5 bridges as
recommended in the Caltrans
Bridge Report along with
additional improvements to
prolong the useful life of the
bridges. The work is partially
funded (80%) through the
Bridge Preventative
Maintenance Program, a
federally funded program.
Design 2024 Construction
documents are
complete. Awaiting
response on the
additional funding
request documents
submitted to Caltrans
in September. Planning
to Re-Bid once funding
is approved.
City Lighting
LED
Improvements
Implement the transition of
City's streetlight
infrastructure from induction
and other fixtures to LED
fixtures to meet the "Dark
Sky" Ordinance requirements
and reduce light pollution
and energy cost.
Design TBD. 12 – 18
months
installation
Audit of existing
facilities is complete.
Working on
construction/bid
documents for public
bid process in April
2024.
Regnart Road
Improvements,
Phase 1
Phase 1 will construct a
retaining wall to stabilize the
road slope to the creek from
Sta 28+40 to 29+80 (+/-140 LF).
Construction July 2024 Construction activities
will begin after the
rainy season, in April
2024.
Stevens Creek
Bridge Repair
Stevens Creek Blvd Bridge
over Stevens Creek. Prepare
feasibility study to determine
appropriate scour
countermeasures, prepare
PS&E and install scour
countermeasure.
Design 2025 Awaiting Preliminary
Engineering (E-76)
approval from Caltrans.
RFP for the design will
be issued after the E-76
is approved.
237
CC 02-21-2024
237 of 456
Page 6 February 12, 2024
QUEUED PROJECTS
Project Title Description Status/Notes
I-280 Trail - West Segment Design and construct an off-street
bicycle and pedestrian facility
parallel to the I-280 HWY, from
the Don Burnett Bicycle –
Pedestrian Bridge to De Anza Blvd
This segment is on hold until the
other segments are designed.
City Hall Annex (10455 Torre
Avenue Improvements)
Program, plan and build facility
improvements required for
interim facility to accommodate
staff while City Hall is remodeled,
as well as the long-term use of this
facility
Design documentation is 60%
complete. Awaiting direction on
City Hall project before further
action on this project.
COMPLETED PROJECTS
Project Title Description Status/Notes
Blackberry Farm Golf Renovation
/ Alternative Use Study
Study to determine options for the
BBF Golf Course: minor repairs or
alternative use (‘natural habitat’).
Completed; Council direction
provided.
Citywide [Satellite] Community
Garden (Wilson Park)
Develop a program to establish
community gardens throughout
the City.
Construction completed. Facility
is open.
Full-sized Outdoor Basketball
Court (Wilson Park)
Install a full-size basketball court at
a park, following the Parks and
Recreation System Master Plan.
(Externally Funded, in part)
Construction completed. Facility
is open.
Pumpkin and Fiesta Storm Drain
Project, Phase 1 & 2
Design storm drainage
improvements at Pumpkin Drive,
Fiesta Lane, as identified in the
Storm Drain Master Plan.
Construction is complete.
Street Light Installation - Annual
Infill
Replace fluted streetlight poles on
an as needed basis. (Multi-year
funding)
Installations for this fiscal year are
complete.
Stevens Creek Blvd./Calabazas
Creek Storm Drain Repair
Repair the storm drain that runs
under SCB at Calabazas Creek.
Emergency repairs completed.
238
CC 02-21-2024
238 of 456
CITY OF CUPERTINO
Agenda Item
23-12417 Agenda Date: 2/21/2024
Agenda #: 10.
Subject:Amendments to the Cupertino Municipal Code Chapter 3.22 (Purchase of Supplies, Materials,
Equipment and Services) and Chapter 3.23 (Public Works Contract and Bidding Procedures) of Title 3
(Revenue and Finance)
Conduct the first reading of Ordinance No. 24-2254: “An Ordinance of the City Council of the City
of Cupertino Amending Chapters 3.22 and 3.23 of the Municipal Code regarding the purchase of
goods and services, and contract and bidding procedures for public work contracts.”
Presenter: Greg Card, Purchasing Manager
CITY OF CUPERTINO Printed on 2/14/2024Page 1 of 1
powered by Legistar™239
CC 02-21-2024
239 of 456
CITY COUNCIL STAFF REPORT
Meeting: February 21, 2024
Subject
Amendments to the Cupertino Municipal Code Chapter 3.22 (Purchase of Supplies,
Materials, Equipment and Services) and Chapter 3.23 (Public Works Contract and Bidding
Procedures) of Title 3 (Revenue and Finance)
Recommended Action
Conduct the first reading of Ordinance No. 24-XXX: “An Ordinance of the City Council
of the City of Cupertino Amending Chapters 3.22 and 3.23 of the Municipal Code
regarding the purchase of goods and services, and contract and bidding procedures for
public work contracts.”
Reasons for Recommendation
Background
The Cupertino Municipal Code (CMC) Chapter 3.22, last amended in 1992, directs the
purchase of goods and services. CMC Chapter 3.23, which directs the contract and bidding
procedures for a public work project, was also amended in 1992, with additional
amendments in 2016. The administrative purchasing policy that governs and guides the
purchases outlined in these chapters was last updated in 2013.
The following audits were completed between 2019 and 2022 which highlighted areas of
risk and recommended improvements in the procurement process, contract management
and vendor management.
March 2019 - Internal Controls Review presented to the Audit Committee on April
24, 2019.
December 2020 - Enterprise Risk Assessment presented to City Council on July 20,
2021.
February 2022 - Procurement Operational Review presented to City Council on
April 19, 2022.
May 2022 - Fiscal Policy Inventory and Gap Analysis presented to City Council on
July 19, 2022.
240
CC 02-21-2024
240 of 456
Staff responded to the various audits and made changes to administrative practices and
invested staff resources to address the items identified. In May 2023, the Purchasing
Manager was hired to evaluate and revise City policy, introduce standardization in the
procurement process and propose improvements that demonstrate best practices, provide
clarity in the purchasing process and support staff through the various procurement
actions. In January and February 2024, after a thorough review by staff and additional
review by Moss Adams, two administrative policies, a new Public Works Purchasing
Policy (Attachment B) and an updated Purchasing Policy (Attachment A), were approved
by the City Manager. These policies administratively guide staff’s purchasing decisions
and align with CMC 3.22 and 3.23, respectively.
Discussion
The concerns identified in the various audits and analysis have created an important
guidepost and roadmap to improvements and best practices in our financial practices and
citywide purchasing activities. In response, staff have and are addressing these items
through changes in internal practices, development of standard operating procedures
through policy review and development, and by adding a purchasing approval role in the
financial system. To continue that effort, this report focuse s on proposed changes to the
Cupertino Municipal Code (CMC) Chapter 3.22 and Chapter 3.23 that will provide further
clarity to current practices, incorporate best and common practices for a government
entity and differentiate the purchase of goods and services and a public work construction
project.
Developing improved administrative policies to guide procurement activities is an
important step to ensure alignment with the CMC. The revised Purchasing Policy and
new Public Works Purchasing Policy address many of the elements of risk identified with
purchasing and contracting activities in the audits and analysis while incorporating
clarity and government best practices for procurement. In addition, these policies provide
important details in the procurement process to ensure fair and open competition. The
proposed CMC edits will introduce improvements, clarity and best practices for the
purchase of goods, services or public work contracts. The proposed amendments are
included as Attachment C, summarized in Table 1 and discussed further in this report.
241
CC 02-21-2024
241 of 456
Table 1. Summary of proposed edits to the CMC
Proposed changes to Chapter 3.22 Proposed changes to Chapter 3.23
Purchasing Manager defined Public Work project definition updated
Introduction of Request for Proposal
procurement
Public Works Director included in
definition of Purchasing Officer
Informal and Formal Bidding Procedures
moved to Purchasing Policy
Bids are posted on City website or online
bid platform and accepted electronically
Clarification and addition of exemptions
to competitive procurement
Maintenance and Professional Services
are deleted from Exemptions
Public Works Director can extend project
timeline as needed or issue additional
work up to approved contract amount
plus contingency
Beginning with Chapter 3.22, there are several proposed edits to the CMC to highlight.
These include the identification of a Purchasing Manager, clarification that vendors may
be solicited either through a low bid or qualifications-based procurement, migration of
procurement procedures for informal and formal solicitations to the Purchasing Policy,
clarification of existing exemptions, and introduction of new exemptions to the
competitive procurement requirement. There are additional minor clean up items and re-
organization of content to assist in the presentation of information. These proposed
changes do not impact Council’s current authority to award contracts that exceed the
formal threshold amount stated in Public Contract Code 22032 (b), which is currently
$200,000 but may be amended by the State from time to time.
The Purchasing Manager position is identified as the principal purchasing official that
will lead, assist and support the procurement process citywide. This position has
responsibilities identified in Chapter 3.22 and administratively to perform oversight and
ensure adherence to the purchasing policies throughout the purchasing process.
The proposed Ordinance also provides that vendors may be selected through an informal
or formal qualifications-based procurement, using a Request for Proposal process which
staff currently utilize as an exemption to the bid process. Using a low bid or qualification-
based procurement method allows staff to determine the appropriate approach for
soliciting a vendor, consultant or service provider. To adequately detail the requirements
for a fair and competitive procurement process, staff recommends enacting the informal
and formal procurement process for bidding or proposal procedures via the Purchasing
Policy.
Allowable exemptions to the required procurement process are identified in the current
Chapter 3.22. The proposed Ordinance introduces legal services as governed by Chapter
2.18 and exempt from a competitive process in accordance with Government Code §
242
CC 02-21-2024
242 of 456
37103. Additional specific exemptions are defined which include those in accordance with
Government Code § 37103.
The proposed amendments to CMC Chapter 3.23 introduce important definitions,
clarifications, and improvements. The definition of a public work project is modified to
align with the current Public Contract Code 22002 definition. The definition of Purchasing
Officer is included in this chapter and specifically includes the Director of Public Works
who would be responsible to oversee and manage public work projects.
The Notice Inviting Bids process is clarified to specifically include posting of bids
electronically on the City’s website or another public bidding platform to encourage broad
contractor outreach. Additionally, if the lowest bids are equal in amount and from
responsive and responsible contractors, the Purchasing Officer or Purchasing Manager
will select the low bidder through a blind selection process.
The performance of additional work simplifies the language and intention that the
Director of Public Works has authority to complete the contracted project, including any
necessary change orders, up to the total amount of contract award and approved
contingency. The Director of Public Works retains authority to extend the contract date
when necessary, and now without a time restriction.
Staff recommends that Council introduce Ordinance No. 24‐XXX and conduct a first
reading of the Ordinance. If Council votes to conduct the first reading, the Ordinance
will return to Council for the second reading at its March 5 meeting.
Sustainability Impact
No sustainability impact.
Fiscal Impact
No fiscal impact.
California Environmental Quality Act
Not applicable.
_____________________________________
Prepared by: Gregory Card, Purchasing Manager
Reviewed by: Kristina Alfaro, Director of Administrative Services
Reviewed by: Christopher Jensen, City Attorney
Reviewed by: Matt Morley, Assistant City Manager
Approved for Submission by: Pamela Wu, City Manager
Attachments:
A – Administrative Purchasing Policy
B – Administrative Public Works Purchasing Policy
243
CC 02-21-2024
243 of 456
C – Draft Ordinance (Redline)
D – Draft Ordinance (Clean)
244
CC 02-21-2024
244 of 456
245
CC 02-21-2024
245 of 456
246
CC 02-21-2024
246 of 456
247
CC 02-21-2024
247 of 456
248
CC 02-21-2024
248 of 456
249
CC 02-21-2024
249 of 456
250
CC 02-21-2024
250 of 456
251
CC 02-21-2024
251 of 456
252
CC 02-21-2024
252 of 456
253
CC 02-21-2024
253 of 456
254
CC 02-21-2024
254 of 456
255
CC 02-21-2024
255 of 456
256
CC 02-21-2024
256 of 456
257
CC 02-21-2024
257 of 456
258
CC 02-21-2024
258 of 456
259
CC 02-21-2024
259 of 456
260
CC 02-21-2024
260 of 456
261
CC 02-21-2024
261 of 456
262
CC 02-21-2024
262 of 456
263
CC 02-21-2024
263 of 456
264
CC 02-21-2024
264 of 456
265
CC 02-21-2024
265 of 456
266
CC 02-21-2024
266 of 456
267
CC 02-21-2024
267 of 456
268
CC 02-21-2024
268 of 456
269
CC 02-21-2024
269 of 456
270
CC 02-21-2024
270 of 456
271
CC 02-21-2024
271 of 456
272
CC 02-21-2024
272 of 456
273
CC 02-21-2024
273 of 456
274
CC 02-21-2024
274 of 456
275
CC 02-21-2024
275 of 456
276
CC 02-21-2024
276 of 456
277
CC 02-21-2024
277 of 456
278
CC 02-21-2024
278 of 456
279
CC 02-21-2024
279 of 456
280
CC 02-21-2024
280 of 456
281
CC 02-21-2024
281 of 456
282
CC 02-21-2024
282 of 456
283
CC 02-21-2024
283 of 456
284
CC 02-21-2024
284 of 456
ORDINANCE NO. __________________
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF CUPERTINO
AMENDING CITY CODE CHAPTERS 3.22 AND 3.23
The City Council of the City of Cupertino finds that:
WHEREAS, this Ordinance makes revisions to the Cupertino Municipal Code to introduce
improvements, provide clarity and implement best practices for the purchase of goods, services
or public work contracts for improved administration of the City purchasing processes.
NOW, THEREFORE, THE CITY COUNCIL OF THE OF CITY OF CUPERTINO
DOES ORDAIN AS FOLLOWS:
SECTION 1. Adoption.
The Cupertino Municipal Code is hereby amended as set forth in Attachment A.
SECTION 2: Severability and Continuity.
The City Council declares that each section, sub‐section, paragraph, sub‐paragraph,
sentence, clause and phrase of this ordinance is severable and independent of every
other section, sub‐section, paragraph, sub‐paragraph, sentence, clause and phrase of
this ordinance. If any section, sub‐section, paragraph, sub‐paragraph, sentence, clause
or phrase of this ordinance is held invalid, or its application to any person or
circumstance, be determined by a court of competent jurisdiction to be unlawful,
unenforceable or otherwise void, the City Council declares that it would have adopted
the remaining provisions of this ordinance irrespective of such portion, and further
declares its express intent that the remaining portions of this ordinance should remain
in effect after the invalid portion has been eliminated. To the extent the provisions of
this Ordinance are substantially the same as previous provisions of the Cupertino
Municipal Code, these provisions shall be construed as continuations of those
provisions and not as an amendment to or readoption of the earlier provisions.
SECTION 3: Effective Date.
This Ordinance shall take effect thirty days after adoption as provided by Government
Code Section 36937.
285
CC 02-21-2024
285 of 456
Ordinance No. __________
Page 2
SECTION 4: Publication.
The City Clerk shall give notice of adoption of this Ordinance as required by law.
Pursuant to Government Code Section 36933, a summary of this Ordinance may be
prepared by the City Clerk and published in lieu of publication of the entire text. The
City Clerk shall post in the office of the City Clerk a certified copy of the full text of the
Ordinance listing the names of the City Council members voting for and against the
ordinance.
INTRODUCED at a special meeting of the Cupertino City Council on February
21, 2024 and ENACTED at a regular meeting of the Cupertino City Council on March 5,
2024 by the following vote:
Members of the City Council
AYES:
NOES:
ABSENT:
ABSTAIN:
SIGNED:
______________________
Sheila Mohan, Mayor
City of Cupertino
________________________
Date
ATTEST:
_______________________
Kirsten Squarcia, City Clerk
________________________
Date
APPROVED AS TO FORM:
_______________________
Christopher D. Jensen, City Attorney
________________________
Date
286
CC 02-21-2024
286 of 456
Amendment to Chapter 3.22 and 3.23- Page 1
Attachment A – An Ordinance of the City Council of the City of Cupertino Amending City
Code Chapters 3.22 And 3.23
The sections of the Cupertino Municipal Code set forth below are amended or adopted as follows:
Text added to existing provisions is shown in bold double‐underlined text (example)
and text to be deleted in shown in strikethrough (example). Text in existing provisions
is not amended or readopted by this Ordinance. Text in italics is explanatory and is not
an amendment to the Code.
Where the explanatory text indicates that a new section is being added to the City Code,
the new section is shown in plain text.
1. Amendments to Chapter 3.22 (Purchase of Supplies, Materials, Equipment and
Services)
3.22.010 Purpose of cChapter.
3.22.020 Definitions.
3.22.030 Purchasing Officer.
3.22.040 Purchase orders, or check requests needed, ‐Purchasing Cards or Use of
petty cash funds.
3.22.050 Availability of funds.
3.22.060 Purchasing requirements.
3.22.070 Exemptions.
3.22.010 Purpose of Chapter.
This cChapter is enacted to set forth policy to establish efficient procedures for the
purchase of supplies, materials, equipment and sServices at the lowest possible cost
commensurate with quality needed, and to clearly define authority for the purchasing
function of the City.
3.22.020 Definitions.
For the purposes of this cChapter, the following words and phrases shall have the
meanings ascribed to them by given in this section.
1. “Bid” means any proposal competitive price‐based bid submitted to the City in
competitive bidding for City purchases and contracts for supplies, materials,
equipment, and/or Sservices.
287
CC 02-21-2024
287 of 456
Ordinance No. __________
Page 2
Amendment to Chapter 3.22 and 3.23- Page 2
2. “Lowest responsible bidder” means the lowest monetary bidder who has
demonstrated the attribute of trustworthiness as well as quality, fitness, capacity and
experience to satisfactorily perform the contract.
3. ”Proposal” means a competitive submittal that is evaluated based on vendor
qualifications, project approach, costs and other requirements for purchases and
contracts for Services.
34. “Purchases.” Purchases of supplies and equipment shall include leases or
rentals, as well as transactions by which the City acquires ownership.
5. “Purchasing Manager” means the principal purchasing official responsible for
developing policy and ensuring compliance in the procurement of goods and services
in accordance with applicable law.
46. “Purchasing Officer” means the City Manager or any other official or officials
designated in writing by the City Manager for administration of this cChapter.
57. “Services” means any and all services including, but not limited to, professional
services, consulting, technology solutions and equipment and maintenance service
contracts.
The term does not include services rendered by City officers or employees, or
professional or other services which are by nature unique or for which the procedure
for procurement is specifically provided by law.
68. “Supplies,”, “materials” and “equipment” means any and all articles, things or
tangible personal property furnished to or to be used by the City.
3.22.030 Purchasing Officer.
A. The Purchasing Officer of the City is vested with the authority for the purchase of
supplies, materials, equipment, and sServices. When the provisions and intent of this
cChapter may be best served by so doing, the Purchasing Officer may authorize in
writing any department, or the Purchasing Manager, to investigate, solicit bids or to
negotiate the purchase or award of contracts for supplies, materials, equipment or
sServices for that department, provided that such shall be done in conformity with the
procedures prescribed by this cChapter or by duly adopted administrative rules and
regulations pertaining thereto.
B. The Purchasing Officer shall have the responsibility and authority to:
21. Prepare and adopt policies, administrative rules, and regulations and
procedures not in conflict with the provisions of this cChapter for the purpose of
carrying out the requirements and intent of this purchasing system.
12. Purchase or contract for materials, supplies, equipment, or and sServices to be
performed as may be required by any department of the City in accordance with
288
CC 02-21-2024
288 of 456
Ordinance No. __________
Page 3
Amendment to Chapter 3.22 and 3.23- Page 3
procedures prescribed by this cChapter or by such administrative rules, policies and
regulations procedures as the Purchasing Officer may adopt pursuant thereto.;
2. Prepare and adopt administrative rules and regulations not in conflict with the
provisions of this chapter for the purpose of carrying out the requirements and intent of
this purchasing system.
3.22.040 Purchase Orders or Check Requests Needed–Use of Petty Cash Funds.
A. Purchases of supplies, materials, equipment or sServices shall be made only by
means of purchase orders, purchasing card or check requests processed and issued
pursuant to this cChapter. The A purchase orders or check requests shall be valid only
when signed by the City Manager, the Purchasing Officer or other persons as may be
designated by the Purchasing Officer to act in his behalf designee.
B. Nothing herein shall preclude the use of authorized petty cash funds for purposes
intended by their establishment.
3.22.050 Availability of Funds.
The Purchasing Officer shall not issue any purchase order, or approve a check request,
or award any contract for the acquisition of supplies, materials, equipment or sServices,
unless there exists an unencumbered appropriation in the funds as approved by City
Council resolution adopting procedures for administration of the annual budget. The
appropriate account and funds shall be encumbered immediately after the issuance of
the purchase order, approval of a or check request or award of contract.
3.22.060 Purchasing Requirements.
A. Open Market Purchases. The Purchasing Officer may award contracts, or issue
purchase orders or approve check requests for the acquisition of supplies, materials,
equipment or sServices in the open market without observing the competitive bidding
procedure contained in this Chapter when the dollar value as provided for by the
administrative policy. A non‐competitive open market purchase will foreseeably equal,
or be less than, the amount for public works contracts described in section 22032(a) of
the Public Contracts Code.
B. Purchases Approved by the Purchasing Officer1Informal Competitive Bidding
Procedures. In instances where the purchase of supplies, materials, equipment or
sServices will foreseeably result in the issuance of a purchase order, approval of a check
request or the award of a contract with a dollar value of greater than the amount for
public works contracts described in section 22032(a) of the public contract code but that
1 *3.22.060 B was modified from previous 3.22.060 D
289
CC 02-21-2024
289 of 456
Ordinance No. __________
Page 4
Amendment to Chapter 3.22 and 3.23- Page 4
equals, or is less than the amount for public works contracts described in section
22032(b) of the public contracts code, the Purchasing Officer may award contracts or
issue purchase orders or check requests for the purchase of supplies, materials,
equipment or services has the authority to take this action.
Such action shall be taken only after the informal competitive bidding or proposal
procedure described in subsection E F below is followed unless the City Manager finds
in writing that the use of the informal competitive bidding or proposal procedure is not
practical, undesirable or impossible due to limitations on source of supply, necessary
restrictions in specifications, necessary standardization, quality considerations, or if
other valid reasons for waiving or exempting the informal competitive bidding or
proposal process procedures appear apply. Upon making such a finding, the City
Manager may direct the Purchasing Officer to may dispense with the informal
competitive bidding or proposal procedure and make the purchase on the open market
or through any other procedure which meets the City’s requirements.
BC. Purchases Approved by City Council.–Application of Formal Competitive
Bidding Procedures. In instances where the acquisition of supplies, materials,
equipment or sServices will foreseeably result in the issuance of a purchase order,
approval of a check request, or the award of a contract with a dollar value in excess of
the required dollar value amount for public works contracts described in section
22032(b) of the Public Contracts Code, such will be authorized only by action of the City
Council has the authority to take this action.
Such action shall be taken after the formal competitive bidding or proposal
procedures described in this sections D or E are followed, unless, pursuant to a written
recommendation of the City Manager, the City Council finds that the use of the formal
competitive bidding or proposal procedures are is not practical, undesirable or
impossible due to limitations on source of supply, necessary restrictions in
specifications, necessary standardization, quality considerations, or if other valid
reasons for waiving or exempting the formal competitive bidding or proposal process
procedures appear apply. Upon making such a finding, the Council may direct the
Purchasing Officer to dispense with the formal competitive bidding or proposal
procedure and make the purchase on the open market or through any other procedure
which meets the City’s requirements.
CD. Formal Competitive Bidding Procedures2. The formal bidding procedures
required for purchases described in Section 3.22.060 (C)B are as follows: shall be to the
2 *3.22.060 D details were incorporated into administrative policy
290
CC 02-21-2024
290 of 456
Ordinance No. __________
Page 5
Amendment to Chapter 3.22 and 3.23- Page 5
lowest responsive and responsible bidder pursuant to administrative policy
implemented by the Purchasing Officer.
1. Notice Inviting Bids.
a. Notice inviting bids shall include:
i. A distinct description of the supplies, materials, equipment or services to be
purchased;
ii. The location where bid blanks, specifications and requests for proposals may
be secured;
iii. The time and place for opening bids;
iv. A statement that the City has the authority to reject any and all bids and may
waive any minor technicality or variance found in a bid document.
b. The notice inviting bids shall be published at least fourteen calendar days
before the date of opening of bids in a newspaper of general circulation printed or
published in the City. Such notice may also be mailed to any vendor or provider which
the Purchasing Officer has reason to believe may be in a position to provide the subject
supplies, material, equipment or services to the City.
2. Opening of Bids. Bids shall be opened in public by the City Clerk at the time and
place stated in the notice inviting bids. A tabulation of all bids received shall be open
for public inspection during regular business hours for a period of not less than fifteen
calendar days after the bid opening. Any bid which is received after the time specified
in the notice shall be returned unopened.
3. Award of Contract. Contracts shall be awarded by the City Council to the lowest
responsible bidder except as otherwise provided in this chapter.
4. Award to Next Lowest Bidder–Failure to Execute Contract. The City Council
may, on refusal or failure of the successful bidder to execute the contract within ten
days after the date the notice of award of contract is mailed, unless the City is
responsible for the delay, award it to the next lowest responsible bidder.
5. Award of Contract to the Next Lowest Bidder–Lowest Bidder Irresponsible–
Notice and Hearing.
A. The City Council, in its sole discretion, may reject the lowest monetary bid for
purchases of supplies, materials, equipment or services upon a specific finding that the
lowest monetary bidder is not responsible. To determine responsibility, the City
Council may consider, among other things, the bidder’
B. If the City Council rejects the lowest bid upon its determination that the lowest
bidder is not responsible, the City shall:
i. Give notice of the City Councilʹs decision to the lowest monetary bidder,
setting forth the reasons why the bidder is not considered the lowest responsible
bidder;
ii. Give the bidder the opportunity to ask for a pre‐award hearing before the
City Council on the issue;
291
CC 02-21-2024
291 of 456
Ordinance No. __________
Page 6
Amendment to Chapter 3.22 and 3.23- Page 6
iii. If the hearing is requested, agendize the matter before the City Council,
giving written notice of such hearing to all bidders;
iv. After hearing, the City Council shall make a finding, supported by the
evidence on the record as to the nonresponsibility of the lowest monetary bidder.
6. Rejection of Bids–Identical Bids–Absence of Bids. The City Council, in its sole
discretion, may:
a. Reject any bids presented and re‐advertise for new bids;
b. Reject any bid that fails to meet the requirements of the formal bidding
procedure in any respect;
c. If two or more bids are the same and the lowest, the City Council may accept
the one it chooses;
d. If no bids are received, the City Council may direct the Purchasing Officer to
purchase the supplies, materials, equipment or services without further adherence to
the formal bidding procedure;
e. Waive any minor irregularities or variances in any bid received.
D. Informal Competitive Bidding Procedures. In instances where the purchase of
supplies, materials, equipment or services will forseeably result in the issuance of a
purchase order, check request or the award of a contract with a dollar value of greater
than the amount for public works contracts described in section 22032(a) of the public
contract code but equals, or is less than the amount for public works contracts described
in section 22032(b) of the public contracts code, the Purchasing Officer may award
contracts or issue purchase orders or check requests for the purchase of supplies,
materials, equipment or services.
Such action shall be taken only after the informal competitive bidding procedure
described in subsection E below is followed unless the City Manager finds in writing
that the use of the informal competitive bidding procedure is not practical due to
limitations on source of supply, necessary restrictions in specifications, necessary
standardization, quality considerations, or if other valid reasons for waiving the
informal competitive bidding process procedure appear. Upon making such a finding,
the City Manager may direct the Purchasing Officer to dispense with the informal
competitive bidding procedure and make the purchase on the open market or through
any other procedure which meets the City’s requirements.
E. Formal Competitive Request for Proposal Procedures. The formal proposal
procedures required for the selection of the best qualified proposal shall be pursuant to
administrative policy implemented by the Purchasing Officer.
292
CC 02-21-2024
292 of 456
Ordinance No. __________
Page 7
Amendment to Chapter 3.22 and 3.23- Page 7
EF. Informal Competitive Bidding or Proposal Procedure for Purchases Described in
Subparagraph D. Above. Purchases described in section B shall be pursuant to
administrative policy implemented by the Purchasing Officer.
i. The procedures described in subsections 3.22.060 C I a and C2‐C6 of this
chapter are applicable except that the duties described thereunder which are performed
by the City Council are performed under these informal procedures by the Purchasing
Officer. Determinations of the Purchasing Officer are subject to appeal pursuant
to Chapter 1.16 of the City’s ordinance code.
ii. Publication of notice inviting informal bids is not required.
3.22.070 Exemptions.
A. Notwithstanding any provision of this cChapter to the contrary, the Purchasing
Officer, with the written concurrence of the City Manager, is authorized to issue a
purchase order, approve a or check request, or award a contract, without adherence to
the other provisions Section 3.22.060 of this cChapter under the following instances:
A1. Emergency Purchases. The immediate requirement of an item supplies,
materials, equipment, or Services necessary for the continued operation of a department
or for the preservation of life, health or property shall be deemed an emergency. A full
report of the circumstances of an emergency purchase in excess of the amount described
in subsection 3.22.060 (C)B shall be filed with the City Council at its next regular
meeting after the purchase was made.
B2. Recurring or Essential Services. Purchases orders or check requests, including
payment of claims against the City where reasonable advanced estimates of costs
cannot be determined for essential services of a recurring nature. Included in, but not
limited to, this authorization are such items as utility services, approved settlements or
claims for liability under the City’s insurance program, renewal premium for
authorized insurance policies, necessary bonds, all expenditures for the Cityʹs payroll
and employee benefits and other matters involving unknown estimates of costs.
3. Legal Services. Purchase of legal advice, legal consultation, attorneys, assistants,
or special counsel to address legal matters shall be in accordance with Chapter 2.18.
B. The following situations are exempt from the informal and formal competitive bid
or proposal procedures described in this Chapter. Exemption determinations will be
documented and approved by the Purchasing Officer.
1C. Purchases From Other Public Agencies. Purchases of supplies, materials,
equipment or Sservices from any other public agency created under the laws of the
State of California or the United States Government are exempt from the bidding
requirements of this chapter.
293
CC 02-21-2024
293 of 456
Ordinance No. __________
Page 8
Amendment to Chapter 3.22 and 3.23- Page 8
D. Professional Services. Professional services including, but not limited to, services
of lawyers, architects, engineers, land surveyors, artists and accountants are exempt
from the bidding requirements of this chapter.
2. Specialized Services Purchase. Specialized services and advice, in accordance
with Government Code 37103, for financial, economic, accounting, or administrative
matters are exempt from a competitive process.
3. Sole Source Purchase. Purchases from a single entity that possess the unique
ability, capability, equipment, technology, patent or copyright to meet the City’s need
based on standardization, compatibility or operational requirement.
4. Use of Another Public Agency Cooperative Competitive Solicitation. After
another governmental or public agency has completed a competitive procurement
process in a manner similar to the bidding or proposal procedures described in this
Chapter, and is for the goods or Services desired by the City, the City may award a
contract to the selected vendor(s) resulting from that procurement process.
2. Amendments to Chapter 3.23 (Public Works Contract and Bidding Procedures)
3.23.010 Purpose.
This cChapter is enacted to enhance competition, to prevent corruption and undue
influence in the awarding of public works contracts, and to clarify the City’s
competitive bidding requirements established pursuant to Part 3 of the California
Public Contract Code, Sections 20100 et seq.
3.23.020 Definitions.
As used in this cChapter, the following terms, phrases, words and their derivations
shall have the meanings given in this section:
1. “Bid” means any proposal monetary bid submitted to the City in competitive
bidding for the construction, alteration, repair or improvement of any structure,
building, road or other improvement of any kind.
2. “Lowest responsible bidder” means the lowest monetary bidder who has
demonstrated the attribute of trustworthiness as well as quality, fitness, capacity and
experience to satisfactorily perform the public works contract sought.
3. “Public works contract” means an agreement for the erection, construction,
alteration, repair or improvement of any public structure, building, road or other public
improvement of any kind.
4. “Public works project” means any of the following:
a. Construction, reconstruction, erection, alteration, renovation, improvement,
demolition, and repair work involving any publicly owned, leased, or operated
facilityThe erection, improvement, painting or repair of public buildings and works;
294
CC 02-21-2024
294 of 456
Ordinance No. __________
Page 9
Amendment to Chapter 3.22 and 3.23- Page 9
b. Painting or repainting of any publicly owned, leased, or operated facilityWork
to protect against overflow of streams, bays, waterfronts or embankments;
c. In the case of a publicly owned utility system, “public project” shall include
only the construction, erection, improvement, or repair of dams, reservoirs,
powerplants, and electrical transmission lines of 230,000 volts and higher. Street or
sewer work except for maintenance or repair thereof;
d. Furnishing supplies or materials for any such project, including the
maintenance or repair of streets or sewers.
5. “Public works project” does not include maintenance work. For purposes of this
section, “maintenance work” includes all of the following:
a. Routine, recurring, and usual work for the preservation or protection of any
publicly owned or publicly operated facility for its intended purposes.
b. Minor repainting.
c. Resurfacing of streets and highways at less than one inch.
d. Landscape maintenance, including mowing, watering, trimming, pruning,
planting, replacement of plants, and servicing of irrigation and sprinkler systems.
e. Work performed to keep, operate, and maintain publicly owned water, power,
or waste disposal systems, including, but not limited to, dams, reservoirs, powerplants,
and electrical transmission lines of 230,000 volts and higher.
6. For purposes of this Chapter, “facility” means any plant, building, structure,
ground facility, utility system, subject to the limitation found in paragraph (c) of
subdivision (4), real property, streets and highways, or other public work improvement.
7. “Purchasing Manager” means the principal purchasing official responsible for
developing policy and ensuring compliance in the procurement of goods and services
in accordance with applicable law.
8. “Purchasing Officer” means the City Manager, Director of Public Works or any
other official or officials designated in writing by the City Manager for administration
of this Chapter.
3.23.030 Competitive Bidding.
Except as otherwise provided for in this cChapter, public works projects with an
estimated dollar value in excess of the required dollar value for competitive bidding
established by section 22032(a) of the California Public Contracts Code, as may be
amended, shall be contracted for pursuant to the procedures prescribed in this cChapter
or by State Law.
3.23.040 Notice Inviting Bids.
The notice inviting bids shall be in the form and published as follows:
A. Notices inviting bids shall include:
295
CC 02-21-2024
295 of 456
Ordinance No. __________
Page 10
Amendment to Chapter 3.22 and 3.23- Page 10
1. A distinct description of the public works project to be performed;
2. The location where bid blanks documents, plans and specifications may be
secured;
3. The time and place for opening bids;
4. The type and amount of bidderʹs security required;
5. The class of license required for the public works to be performed; and
6. A statement that the City has the authority to reject any and all bids and may
waive any minor technicality or variance from the bid specifications.
B. The notice inviting bids shall be:
1. Published in a newspaper of general circulation printed and published in the
City at least the number of days specified in Section 22037 of the California Public
Contract Code, as may be amended, before the opening of bids; and
2. Provided to all construction and trade journals specified in Section 22036 of the
California Public Contract Code, or as may be amended, at least the number of days
and by the methods set forth in Section 22037 of the California Public Contracts Code,
as may be amended.; and
3. Posted on the City’s website or another public bidding platform.
3.23.050 Presentation of Bids–Security Required–Subcontractor Designated in Bid.
A. All bids shall be presented under sealed cover (identified as bids on the
envelopeby the bid name and number), submitted to the City Clerk attention of the
Purchasing Officer, or designee, via the process described in the notice inviting bids and
accompanied by one of the following forms of bidder’s security:
1. Cash;
2. A cashier’s check made payable to the City;
3. A certified check made payable to the City;
4. A bidderʹs bond executed by an admitted surety insurer, made payable to the
City.
B. The security shall be in an amount equal to at least ten percent of the amount of
the bid, or such other sum as may be authorized by the California Public Contract Code.
A bid shall not be considered unless one of the forms of bidder’s security is enclosed
with it.
C. Upon award of the contract to the lowest responsible bidder, the security of an
unsuccessful bidder shall be returned no later than in a reasonable period of time, but in
no event shall such security be held by the City beyond ninety days from the date the
notice of award of contract is mailed awarded.
296
CC 02-21-2024
296 of 456
Ordinance No. __________
Page 11
Amendment to Chapter 3.22 and 3.23- Page 11
D. All bidders on a public works project must designate in their bids the name,
address, the portion of the work each subcontractor will perform, and other information
as required by Section 4101(a)(1) of the California Public Contract Code, as may be
amended, of each subcontractor:
1. Who will perform work exceeding one‐half of one percent of the prime
contractor’s total bid as specified in Section 4104(a)(1), or
2. Who meet or exceed the thresholds for specific types of work as specified in
Section 4101(a)(1) of the California Public Contracts Code, as may be amended.
3E. The prime contractor shall list only one subcontractor for each portion of work
as is defined by the prime contractor in their bid as specified in Section 4104 (b).
E. A contractor submitting a bid as the prime contractor shall not also submit a bid
as a subcontractor for a competing prime contractor.
3.23.060 Opening Bids.
Bids shall be opened on the date stated in the notice inviting bids. A tabulation of all
bids received shall be posted on the City’s website on the first working day within after
48 hours of the bid opening and will remain posted for a period of not less than fifteen
calendar days after the bid opening. Any bid which is submitted after the time specified
in the notice shall not be considered.
3.23.070 Award of Contract.
Contracts shall be awarded by the City Council to the lowest responsible bidder
except as otherwise provided in this cChapter.
3.23.080 Forfeiture of Security.
If the successful bidder fails to execute the contract within ten days after the date the
notice of award of contract is mailed or provided, unless the City is responsible for the
delay, the amount of the bidder’s security shall be forfeited to the City except as
provided in Section 3.23.090.
3.23.090 Award of Contract to next Lowest Bidder–Failure to Execute Contract.
The City Council may, on refusal or failure to of the successful bidder to execute the
contract within ten days after the date the notice of award of contract is mailed or
provided, unless the City is responsible for the delay, award it to the next lowest
responsible bidder. If the City Council awards the contract to the second lowest bidder,
the amount of the lowest bidder’s security shall may be applied by the City to the
difference between the low bid and the second lowest bid, and the surplus, if any, shall
be returned to the lowest bidder if cash or a check is used, or to the bidder’s surety if a
bond is used.
297
CC 02-21-2024
297 of 456
Ordinance No. __________
Page 12
Amendment to Chapter 3.22 and 3.23- Page 12
3.23.100 Award of Contract to Next Lowest Bidder–Lowest Bidder Irresponsible–
Notice and Hearing.
A. The City Council, in its sole discretion, may reject the lowest bid upon specific
findings that the lowest bidder is not responsible. To determine responsibility, the City
Council may consider, among other things, the bidder’s financial responsibility, type of
license, type of equipment, number of years of experience in construction work, other
projects bidder worked on in the last five years, whether bidder has failed to complete
any contract, and bidder’s ability to be bonded and its quality, fitness, or capacity to
satisfactorily perform the work.
B. If the City Council rejects the lowest bid upon its determination that the lowest
bidder is not responsible, the City shall do the following:
1. Give notice of the City Council’s decision to the lowest bidder, setting forth the
reasons why he/she the bidder is not considered determined the lowest “responsible”
bidder;
2. In the notice, give bidder an opportunity to ask for a pre‐award hearing before
the City Council on the issue;
3. If hearing is requested, agenda the matter pursuant to California Government
Code hearing requirements;
4. After the hearing, the City Council shall make a finding, supported by the
evidence on the record, as to the non‐responsibility of the lowest bidder.
3.23.110 Rejection of Bids–Identical Bids–Absence of Bids.
The City Council, in its sole discretion, may:
A. Reject any all bids presented and readvertise for new bids;
B. Reject any bid that fails to meet the bidding requirements in any respect;
C. If two or more bids are the same and the lowest, allow the City Council may
accept the one it chooses Purchasing Officer or Purchasing Manager to select one
through a blind selection process;
D. If no bids are received, the City Council may have the project done without
further complying with this cChapter;
E. Waive minor irregularities in any bid received.
298
CC 02-21-2024
298 of 456
Ordinance No. __________
Page 13
Amendment to Chapter 3.22 and 3.23- Page 13
3.23.120 Informal Bidding Procedure for Public Works Projects.
Except as otherwise required by this cChapter or under state or federal law, the
bidding procedures of this cChapter may be dispensed with for public works projects
with an estimated dollar value equal to or less than the required dollar value specified
in Subdivision (b) of Section 22032 of the Public Contract Code, and the following
informal bidding procedures substituted:
A. The City shall maintain a list of qualified contractors, identified according to
categories of work. Minimum criteria for compilation of the contractor list shall be
determined by the California Uniform Construction Cost Accounting Commission
(“Commission”). All contractors on the list for the category of work being bid and/or all
construction trade journals specified by the Commission shall be mailed or emailed a
notice inviting informal bids, unless the product or service is proprietary.
B. All mailing of notices to contractors and construction trade journals shall be
completed not less than the number of days specified in Section 22304(c) of the
California Public Contract Code, or as may be amended, before the date of opening the
bids.
C. The City Council hereby delegates the authority to award contracts pursuant to
informal bidding to the City Manager or other person designated in writing by the City
Manager Purchasing Officer.
3.23.130 Exempt from Bidding Requirements.
The following are exempt from competitive bidding requirements:
A. Professional Services. Includes, but is not restricted to, services of lawyers,
architects, engineers, land surveyors, artists, and accountants;
B. Maintenance. Includes the maintenance and repair of streets and sewers, but does
not include the furnishing of materials for such maintenance;
AC. Emergency Work. If there is a great public calamity, such as an extraordinary
fire, flood, storm, epidemic or other disaster, or if it is necessary to do emergency work
to prepare for national or local defense, the City Council may pass a resolution by a
four‐fifths vote declaring that the public interest and necessity demand the immediate
expenditure of public money to safeguard life, health or property in accordance with
Public Contract Code Section 22050. Upon adoption of the resolution, the City may
expend any sum required in the emergency without complying with this cChapter;
BD. Small Contracts. Any contract for public works projects with an estimated dollar
value equal to or less than the required dollar value for competitive bidding established
by section 22032(a) of the California Public Contracts Code;
299
CC 02-21-2024
299 of 456
Ordinance No. __________
Page 14
Amendment to Chapter 3.22 and 3.23- Page 14
CE. Meaningless Bids. Where the nature of the subject of the contract is such that
competitive proposals bids would not produce an advantage and when the
advertisement for competitive bidding would be undesirable, impracticable or
impossible;
DF. Performance of Project After Rejection of Bids. After rejection of bids presented,
the City Council may pass a resolution by a four‐fifths vote declaring that the project
can be performed more economically by day labor or the materials or supplies
furnished at a lower price in the open market. Upon adoption of the resolution, the City
is relieved from further compliance with formal bidding requirements.
3.23.140 Performance Bond of Successful Bidder.
The City ManagerPurchasing Officer has authority to require a performance bond
before entering a contract, in such amount as the City Manager Purchasing Officer finds
reasonably necessary to protect the best interests of the City or as may be required by
law. If the City requires a performance bond, the form and amount of the bond shall be
described in the notice inviting bids.
3.23.150 Deposit of Proceeds.
The cash or proceeds collected pursuant to this cChapter shall be deposited in the
fund out of which the expenses of preparation and printing of the plans and
specifications, estimates of cost and publication of notice are paid.
3.23.160 Additional Work by City Authority.
Notwithstanding the provisions of this cChapter, if the Director of Public Works
determines that additional or extra work on any public works project is required to
complete the project as originally intended, the Director of Public Works is authorized
to approve contract change orders for additional or extra work on any public works
contract without complying with the bidding requirements established in this chapter,
provided that each individual contract change order does not exceed the required dollar
value for bidding established by Section 22032 of the California Public Contract Code;
and, further, that the aggregate total of all such contract change orders for the any one
public works project does not exceed the contract amount plus contingency value of the
project contingency established for the project at the time the contract is awarded.
Under this same authority, the Director of Public Works is authorized to approve
extensions of time to public works contracts up to a maximum of sixty calendar days.
300
CC 02-21-2024
300 of 456
Ordinance No. __________
Page 15
Amendment to Chapter 3.22 and 3.23- Page 15
3.23.170 Deletions of Work by City Authority.
The City reserves the right to delete up to twenty‐five percent (25%) of the work on a
public works contract where such deletions would advance the project as originally
contemplated.
301
CC 02-21-2024
301 of 456
ORDINANCE NO. __________________
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF CUPERTINO
AMENDING CITY CODE CHAPTERS 3.22 AND 3.23
The City Council of the City of Cupertino finds that:
WHEREAS, this Ordinance makes revisions to the Cupertino Municipal Code to introduce
improvements, provide clarity and implement best practices for the purchase of goods, services
or public work contracts for improved administration of the City purchasing processes.
NOW, THEREFORE, THE CITY COUNCIL OF THE OF CITY OF CUPERTINO
DOES ORDAIN AS FOLLOWS:
SECTION 1. Adoption.
The Cupertino Municipal Code is hereby amended as set forth in Attachment A.
SECTION 2: Severability and Continuity.
The City Council declares that each section, sub‐section, paragraph, sub‐paragraph,
sentence, clause and phrase of this ordinance is severable and independent of every
other section, sub‐section, paragraph, sub‐paragraph, sentence, clause and phrase of
this ordinance. If any section, sub‐section, paragraph, sub‐paragraph, sentence, clause
or phrase of this ordinance is held invalid, or its application to any person or
circumstance, be determined by a court of competent jurisdiction to be unlawful,
unenforceable or otherwise void, the City Council declares that it would have adopted
the remaining provisions of this ordinance irrespective of such portion, and further
declares its express intent that the remaining portions of this ordinance should remain
in effect after the invalid portion has been eliminated. To the extent the provisions of
this Ordinance are substantially the same as previous provisions of the Cupertino
Municipal Code, these provisions shall be construed as continuations of those
provisions and not as an amendment to or readoption of the earlier provisions.
SECTION 3: Effective Date.
This Ordinance shall take effect thirty days after adoption as provided by Government
Code Section 36937.
302
CC 02-21-2024
302 of 456
Ordinance No. __________
Page 2
SECTION 4: Publication.
The City Clerk shall give notice of adoption of this Ordinance as required by law.
Pursuant to Government Code Section 36933, a summary of this Ordinance may be
prepared by the City Clerk and published in lieu of publication of the entire text. The
City Clerk shall post in the office of the City Clerk a certified copy of the full text of the
Ordinance listing the names of the City Council members voting for and against the
ordinance.
INTRODUCED at a special meeting of the Cupertino City Council on February
21, 2024 and ENACTED at a regular meeting of the Cupertino City Council on March 5,
2024 by the following vote:
Members of the City Council
AYES:
NOES:
ABSENT:
ABSTAIN:
SIGNED:
______________________
Sheila Mohan, Mayor
City of Cupertino
________________________
Date
ATTEST:
_______________________
Kirsten Squarcia, City Clerk
________________________
Date
APPROVED AS TO FORM:
_______________________
Christopher D. Jensen, City Attorney
________________________
Date
303
CC 02-21-2024
303 of 456
Amendment to Chapter 3.22 and 3.23- Page 1
Attachment A – An Ordinance of the City Council of the City of Cupertino Amending City
Code Chapters 3.22 And 3.23
The sections of the Cupertino Municipal Code set forth below are amended or adopted as follows:
Text added to existing provisions is shown in bold double‐underlined text (example)
and text to be deleted in shown in strikethrough (example). Text in existing provisions
is not amended or readopted by this Ordinance. Text in italics is explanatory and is not
an amendment to the Code.
Where the explanatory text indicates that a new section is being added to the City Code,
the new section is shown in plain text.
1. Amendments to Chapter 3.22 (Purchase of Supplies, Materials, Equipment and
Services)
3.22.010 Purpose of Chapter.
3.22.020 Definitions.
3.22.030 Purchasing Officer.
3.22.040 Purchase orders, check requests, Purchasing Cards or Use of petty cash
funds.
3.22.050 Availability of funds.
3.22.060 Purchasing requirements.
3.22.070 Exemptions.
3.22.010 Purpose of Chapter.
This Chapter is enacted to set forth policy to establish efficient procedures for the
purchase of supplies, materials, equipment and Services at the lowest possible cost
commensurate with quality needed, and to clearly define authority for the purchasing
function of the City.
3.22.020 Definitions.
For the purposes of this Chapter, the following words and phrases shall have the
meanings given in this section.
1. “Bid” means any competitive price‐based bid submitted to the City for purchases
and contracts for supplies, materials, equipment, and/or Services.
2. “Lowest responsible bidder” means the lowest monetary bidder who has
demonstrated the attribute of trustworthiness as well as quality, fitness, capacity and
experience to satisfactorily perform the contract.
304
CC 02-21-2024
304 of 456
Ordinance No. __________
Page 2
Amendment to Chapter 3.22 and 3.23- Page 2
3. ”Proposal” means a competitive submittal that is evaluated based on vendor
qualifications, project approach, costs and other requirements for purchases and
contracts for Services.
4. “Purchases” Purchases of supplies and equipment shall include leases or rentals,
as well as transactions by which the City acquires ownership.
5. “Purchasing Manager” means the principal purchasing official responsible for
developing policy and ensuring compliance in the procurement of goods and services
in accordance with applicable law.
6. “Purchasing Officer” means the City Manager or any other official or officials
designated in writing by the City Manager for administration of this Chapter.
7. “Services” means any and all services including, but not limited to, professional
services, consulting, technology solutions and equipment and maintenance service
contracts.
The term does not include services rendered by City officers or employees, or
professional or other services which are by nature unique or for which the procedure
for procurement is specifically provided by law.
8. “Supplies”, “materials” and “equipment” means any and all articles, things or
tangible personal property furnished to or to be used by the City.
3.22.030 Purchasing Officer.
A. The Purchasing Officer of the City is vested with the authority for the purchase of
supplies, materials, equipment, and Services. When the provisions and intent of this
Chapter may be best served by so doing, the Purchasing Officer may authorize in
writing any department, or the Purchasing Manager, to investigate, solicit bids or to
negotiate the purchase or award of contracts for supplies, materials, equipment or
Services for that department, provided that such shall be done in conformity with the
procedures prescribed by this Chapter or by duly adopted administrative rules and
regulations pertaining thereto.
B. The Purchasing Officer shall have the responsibility and authority to:
1. Prepare and adopt policies, administrative rules, regulations and procedures not
in conflict with the provisions of this Chapter for the purpose of carrying out the
requirements and intent of this purchasing system.
2. Purchase or contract for materials, supplies, equipment, or Services to be
performed as may be required by any department of the City in accordance with
procedures prescribed by this Chapter or by such administrative rules, policies and
procedures as the Purchasing Officer may adopt pursuant thereto.
305
CC 02-21-2024
305 of 456
Ordinance No. __________
Page 3
Amendment to Chapter 3.22 and 3.23- Page 3
3.22.040 Purchase Orders or Check Requests Needed–Use of Petty Cash Funds.
A. Purchases of supplies, materials, equipment or Services shall be made only by
means of purchase orders, purchasing card or check requests processed and issued
pursuant to this Chapter. A purchase order or check request shall be valid only when
signed by the Purchasing Officer or designee.
B. Nothing herein shall preclude the use of authorized petty cash funds for purposes
intended by their establishment.
3.22.050 Availability of Funds.
The Purchasing Officer shall not issue any purchase order, approve a check request, or
award any contract for the acquisition of supplies, materials, equipment or Services,
unless there exists an unencumbered appropriation in the funds as approved by City
Council resolution adopting procedures for administration of the annual budget. The
appropriate account and funds shall be encumbered after the issuance of the purchase
order, approval of a check request or award of contract.
3.22.060 Purchasing Requirements.
A. Open Market Purchases. The Purchasing Officer may award contracts, issue
purchase orders or approve check requests for the acquisition of supplies, materials,
equipment or Services in the open market without observing the competitive bidding
procedure contained in this Chapter as provided for by the administrative policy. A
non‐competitive open market purchase will foreseeably equal, or be less than, the
amount for public works contracts described in section 22032(a) of the Public Contracts
Code.
B. Purchases Approved by the Purchasing Officer. In instances where the purchase
of supplies, materials, equipment or Services will foreseeably result in the issuance of a
purchase order, approval of a check request or the award of a contract that equals, or is
less than the amount for public works contracts described in section 22032(b) of the
public contracts code, the Purchasing Officer has the authority to take this action.
Such action shall be taken only after the informal competitive bidding or proposal
procedure described in section F below is followed unless the City Manager finds in
writing that the use of the informal competitive bidding or proposal procedure is not
practical, undesirable or impossible due to limitations on source of supply, necessary
restrictions in specifications, necessary standardization, quality considerations, or if
other valid reasons for waiving or exempting the informal competitive bidding or
proposal procedures apply. Upon making such a finding, the Purchasing Officer may
306
CC 02-21-2024
306 of 456
Ordinance No. __________
Page 4
Amendment to Chapter 3.22 and 3.23- Page 4
dispense with the informal competitive bidding or proposal procedure and make the
purchase through any procedure which meets the City’s requirements.
C. Purchases Approved by City Council. In instances where the acquisition of
supplies, materials, equipment or Services will foreseeably result in the issuance of a
purchase order, approval of a check request or the award of a contract in excess of the
amount for public works contracts described in section 22032(b) of the Public Contracts
Code, the City Council has the authority to take this action.
Such action shall be taken after the formal competitive bidding or proposal
procedures described in sections D or E are followed unless, pursuant to a
recommendation of the City Manager, the City Council finds that the use of the formal
competitive bidding or proposal procedures are not practical, undesirable or impossible
due to limitations on source of supply, necessary restrictions in specifications, necessary
standardization, quality considerations, or if other valid reasons for waiving or
exempting the formal competitive bidding or proposal procedures apply. Upon making
such a finding, the Council may direct the Purchasing Officer to dispense with the
formal competitive bidding or proposal procedure and make the purchase through any
procedure which meets the City’s requirements.
D. Formal Competitive Bidding Procedures. The formal bidding procedures required
for purchases described in Section 3.22.060 (C) shall be to the lowest responsive and
responsible bidder pursuant to administrative policy implemented by the Purchasing
Officer.
E. Formal Competitive Request for Proposal Procedures. The formal proposal
procedures required for the selection of the best qualified proposal shall be pursuant to
administrative policy implemented by the Purchasing Officer.
F. Informal Competitive Bidding or Proposal Procedure. Purchases described in
section B shall be pursuant to administrative policy implemented by the Purchasing
Officer.
3.22.070 Exemptions.
A. Notwithstanding any provision of this Chapter to the contrary, the Purchasing
Officer is authorized to issue a purchase order, approve a check request, or award a
contract, without adherence to Section 3.22.060 of this Chapter under the following
instances:
1. Emergency Purchases. The immediate requirement of supplies, materials,
equipment, or Services necessary for the continued operation of a department or for the
307
CC 02-21-2024
307 of 456
Ordinance No. __________
Page 5
Amendment to Chapter 3.22 and 3.23- Page 5
preservation of life, health or property shall be deemed an emergency. A full report of
the circumstances of an emergency purchase in excess of the amount described in
section 3.22.060 (C) shall be filed with the City Council at its next regular meeting after
the purchase was made.
2. Recurring or Essential Services. Purchases where reasonable advanced estimates
of costs cannot be determined for essential services of a recurring nature. Included in,
but not limited to, this authorization are such items as utility services, approved
settlements or claims for liability under the City’s insurance program, renewal premium
for authorized insurance policies, necessary bonds, all expenditures for the Cityʹs
payroll and employee benefits and other matters involving unknown estimates of costs.
3. Legal Services. Purchase of legal advice, legal consultation, attorneys, assistants,
or special counsel to address legal matters shall be in accordance with Chapter 2.18.
B. The following situations are exempt from the informal and formal competitive bid
or proposal procedures described in this Chapter. Exemption determinations will be
documented and approved by the Purchasing Officer.
1. Purchases From Other Public Agencies. Purchases of supplies, materials,
equipment or Services from any other public agency created under the laws of the State
of California or the United States Government.
2. Specialized Services Purchase. Specialized services and advice, in accordance
with Government Code 37103, for financial, economic, accounting, or administrative
matters are exempt from a competitive process.
3. Sole Source Purchase. Purchases from a single entity that possess the unique
ability, capability, equipment, technology, patent or copyright to meet the City’s need
based on standardization, compatibility or operational requirement.
4. Use of Another Public Agency Cooperative Competitive Solicitation. After
another governmental or public agency has completed a competitive procurement
process in a manner similar to the bidding or proposal procedures described in this
Chapter, and is for the goods or Services desired by the City, the City may award a
contract to the selected vendor(s) resulting from that procurement process.
2. Amendments to Chapter 3.23 (Public Works Contract and Bidding Procedures)
3.23.010 Purpose.
This Chapter is enacted to enhance competition, to prevent corruption and undue
influence in the awarding of public works contracts, and to clarify the City’s
competitive bidding requirements established pursuant to Part 3 of the California
Public Contract Code, Sections 20100 et seq.
308
CC 02-21-2024
308 of 456
Ordinance No. __________
Page 6
Amendment to Chapter 3.22 and 3.23- Page 6
3.23.020 Definitions.
As used in this Chapter, the following terms, phrases, words and their derivations
shall have the meanings given in this section:
1. “Bid” means any monetary bid submitted to the City in competitive bidding for
the construction, alteration, repair or improvement of any structure, building, road or
other improvement of any kind.
2. “Lowest responsible bidder” means the lowest monetary bidder who has
demonstrated the attribute of trustworthiness as well as quality, fitness, capacity and
experience to satisfactorily perform the public works contract sought.
3. “Public works contract” means an agreement for the erection, construction,
alteration, repair or improvement of any public structure, building, road or other public
improvement of any kind.
4. “Public works project” means any of the following:
a. Construction, reconstruction, erection, alteration, renovation, improvement,
demolition, and repair work involving any publicly owned, leased, or operated facility;
b. Painting or repainting of any publicly owned, leased, or operated facility;
c. In the case of a publicly owned utility system, “public project” shall include
only the construction, erection, improvement, or repair of dams, reservoirs,
powerplants, and electrical transmission lines of 230,000 volts and higher.
5. “Public works project” does not include maintenance work. For purposes of this
section, “maintenance work” includes all of the following:
a. Routine, recurring, and usual work for the preservation or protection of any
publicly owned or publicly operated facility for its intended purposes.
b. Minor repainting.
c. Resurfacing of streets and highways at less than one inch.
d. Landscape maintenance, including mowing, watering, trimming, pruning,
planting, replacement of plants, and servicing of irrigation and sprinkler systems.
e. Work performed to keep, operate, and maintain publicly owned water, power,
or waste disposal systems, including, but not limited to, dams, reservoirs, powerplants,
and electrical transmission lines of 230,000 volts and higher.
6. For purposes of this Chapter, “facility” means any plant, building, structure,
ground facility, utility system, subject to the limitation found in paragraph (c) of
subdivision (4), real property, streets and highways, or other public work improvement.
7. “Purchasing Manager” means the principal purchasing official responsible for
developing policy and ensuring compliance in the procurement of goods and services
in accordance with applicable law.
8. “Purchasing Officer” means the City Manager, Director of Public Works or any
other official or officials designated in writing by the City Manager for administration
of this Chapter.
309
CC 02-21-2024
309 of 456
Ordinance No. __________
Page 7
Amendment to Chapter 3.22 and 3.23- Page 7
3.23.030 Competitive Bidding.
Except as otherwise provided for in this Chapter, public works projects with an
estimated dollar value in excess of the required dollar value for competitive bidding
established by section 22032(a) of the California Public Contracts Code, as may be
amended, shall be contracted for pursuant to the procedures prescribed in this Chapter
or by State Law.
3.23.040 Notice Inviting Bids.
The notice inviting bids shall be in the form and published as follows:
A. Notices inviting bids shall include:
1. A distinct description of the public works project to be performed;
2. The location where bid documents, plans and specifications may be secured;
3. The time and place for opening bids;
4. The type and amount of bidderʹs security required;
5. The class of license required for the public works to be performed; and
6. A statement that the City has the authority to reject any and all bids and may
waive any minor technicality or variance from the bid specifications.
B. The notice inviting bids shall be:
1. Published in a newspaper of general circulation printed and published in the
City at least the number of days specified in Section 22037 of the California Public
Contract Code, as may be amended, before the opening of bids; and
2. Provided to all construction and trade journals specified in Section 22036 of the
California Public Contract Code, or as may be amended, at least the number of days
and by the methods set forth in Section 22037 of the California Public Contracts Code,
as may be amended; and
3. Posted on the City’s website or another public bidding platform.
3.23.050 Presentation of Bids–Security Required–Subcontractor Designated in Bid.
A. All bids shall be presented under sealed cover (identified by the bid name and
number), submitted to the attention of the Purchasing Officer, or designee, via the
process described in the notice inviting bids and accompanied by one of the following
forms of bidder’s security:
1. Cash;
2. A cashier’s check made payable to the City;
3. A certified check made payable to the City;
4. A bidderʹs bond executed by an admitted surety insurer, made payable to the
City.
310
CC 02-21-2024
310 of 456
Ordinance No. __________
Page 8
Amendment to Chapter 3.22 and 3.23- Page 8
B. The security shall be in an amount equal to at least ten percent of the amount of
the bid, or such other sum as may be authorized by the California Public Contract Code.
A bid shall not be considered unless one of the forms of bidder’s security is enclosed
with it.
C. Upon award of the contract to the lowest responsible bidder, the security of an
unsuccessful bidder shall be returned no later than ninety days from the date the
contract is awarded.
D. All bidders on a public works project must designate in their bids the name,
address, the portion of the work each subcontractor will perform, and other information
as required by Section 4101of the California Public Contract Code, as may be amended,
of each subcontractor:
1. Who will perform work exceeding one‐half of one percent of the prime
contractor’s total bid as specified in Section 4104(a)(1), or
2. Who meet or exceed the thresholds for specific types of work as specified in
Section 4101(a)(1).
3. The prime contractor shall list only one subcontractor for each portion of work as
is defined by the prime contractor in their bid as specified in Section 4104 (b).
E. A contractor submitting a bid as the prime contractor shall not also submit a bid
as a subcontractor for a competing prime contractor.
3.23.060 Opening Bids.
Bids shall be opened on the date stated in the notice inviting bids. A tabulation of all
bids received shall be posted on the City’s website on the first working day after 48
hours of the bid opening and will remain posted for a period of not less than fifteen
calendar days after the bid opening. Any bid which is submitted after the time specified
in the notice shall not be considered.
3.23.070 Award of Contract.
Contracts shall be awarded by the City Council to the lowest responsible bidder
except as otherwise provided in this Chapter.
3.23.080 Forfeiture of Security.
If the successful bidder fails to execute the contract within ten days after the date the
notice of award of contract is mailed or provided, unless the City is responsible for the
delay, the amount of the bidder’s security shall be forfeited to the City except as
provided in Section 3.23.090.
311
CC 02-21-2024
311 of 456
Ordinance No. __________
Page 9
Amendment to Chapter 3.22 and 3.23- Page 9
3.23.090 Award of Contract to next Lowest Bidder–Failure to Execute Contract.
The City Council may, on refusal or failure of the successful bidder to execute the
contract within ten days after the date the notice of award of contract is mailed or
provided, unless the City is responsible for the delay, award it to the next lowest
responsible bidder. If the City Council awards the contract to the second lowest bidder,
the amount of the lowest bidder’s security may be applied by the City to the difference
between the low bid and the second lowest bid, and the surplus, if any, shall be
returned to the lowest bidder if cash or a check is used, or to the bidder’s surety if a
bond is used.
3.23.100 Award of Contract to Next Lowest Bidder–Lowest Bidder Irresponsible–
Notice and Hearing.
A. The City Council, in its sole discretion, may reject the lowest bid upon specific
findings that the lowest bidder is not responsible. To determine responsibility, the City
Council may consider, among other things, the bidder’s financial responsibility, type of
license, type of equipment, years of experience in construction work, other projects
bidder worked on in the last five years, whether bidder has failed to complete any
contract, bidder’s ability to be bonded and its quality, fitness, or capacity to
satisfactorily perform the work.
B. If the City Council rejects the lowest bid upon its determination that the lowest
bidder is not responsible, the City shall do the following:
1. Give notice of the City Council’s decision to the lowest bidder, setting forth the
reasons why the bidder is not determined the lowest responsible bidder;
2. In the notice, give bidder an opportunity to ask for a pre‐award hearing before
the City Council on the issue;
3. If hearing is requested, agenda the matter pursuant to California Government
Code hearing requirements;
4. After the hearing, the City Council shall make a finding, supported by the
evidence on the record, as to the non‐responsibility of the lowest bidder.
3.23.110 Rejection of Bids–Identical Bids–Absence of Bids.
The City Council, in its sole discretion, may:
A. Reject all bids presented and readvertise for new bids;
B. Reject any bid that fails to meet the bidding requirements in any respect;
C. If two or more bids are the same and the lowest, allow the Purchasing Officer or
Purchasing Manager to select one through a blind selection process;
312
CC 02-21-2024
312 of 456
Ordinance No. __________
Page 10
Amendment to Chapter 3.22 and 3.23- Page 10
D. If no bids are received, the City Council may have the project done without
further complying with this Chapter;
E. Waive minor irregularities in any bid received.
3.23.120 Informal Bidding Procedure for Public Works Projects.
Except as otherwise required by this Chapter or under state or federal law, the
bidding procedures of this Chapter may be dispensed with for public works projects
with an estimated dollar value equal to or less than the dollar value specified in
Subdivision (b) of Section 22032 of the Public Contract Code, and the following informal
bidding procedures substituted:
A. The City shall maintain a list of qualified contractors, identified according to
categories of work. Minimum criteria for compilation of the contractor list shall be
determined by the California Uniform Construction Cost Accounting Commission
(“Commission”). All contractors on the list for the category of work being bid and/or all
construction trade journals specified by the Commission shall be mailed or emailed a
notice inviting informal bids, unless the product or service is proprietary.
B. All mailing of notices to contractors and construction trade journals shall be
completed not less than the number of days specified in Section 22304 of the California
Public Contract Code, or as may be amended, before the date of opening the bids.
C. The City Council hereby delegates the authority to award contracts pursuant to
informal bidding to the Purchasing Officer.
3.23.130 Exempt from Bidding Requirements.
The following are exempt from competitive bidding requirements:
A. Emergency Work. If there is a great public calamity, such as an extraordinary fire,
flood, storm, epidemic or other disaster, or if it is necessary to do emergency work to
prepare for national or local defense, the City Council may pass a resolution by a four‐
fifths vote declaring that the public interest and necessity demand the immediate
expenditure of public money to safeguard life, health or property in accordance with
Public Contract Code Section 22050. Upon adoption of the resolution, the City may
expend any sum required in the emergency without complying with this Chapter;
B. Small Contracts. Any contract for public works projects with an estimated dollar
value equal to or less than the dollar value for competitive bidding established by
section 22032(a) of the California Public Contracts Code;
313
CC 02-21-2024
313 of 456
Ordinance No. __________
Page 11
Amendment to Chapter 3.22 and 3.23- Page 11
C. Meaningless Bids. Where the nature of the subject of the contract is such that
competitive bids would not produce an advantage and when the advertisement for
competitive bidding would be undesirable, impracticable or impossible;
D. Performance of Project After Rejection of Bids. After rejection of bids presented,
the City Council may pass a resolution by a four‐fifths vote declaring that the project
can be performed more economically by day labor or the materials or supplies
furnished at a lower price in the open market. Upon adoption of the resolution, the City
is relieved from further compliance with bidding requirements.
3.23.140 Performance Bond of Successful Bidder.
The Purchasing Officer has authority to require a performance bond before entering a
contract, in such amount as the Purchasing Officer finds reasonably necessary to protect
the best interests of the City or as may be required by law. If the City requires a
performance bond, the form and amount of the bond shall be described in the notice
inviting bids.
3.23.150 Deposit of Proceeds.
The cash or proceeds collected pursuant to this Chapter shall be deposited in the fund
out of which the expenses of preparation and printing of the plans and specifications,
estimates of cost and publication of notice are paid.
3.23.160 Additional Work by City Authority.
Notwithstanding the provisions of this Chapter, if the Director of Public Works
determines that additional or extra work on any public works project is required to
complete the project as originally intended, the Director of Public Works is authorized
to approve contract change orders for additional or extra work on any public works
contract provided that the aggregate total of all such contract change orders for the
public works project does not exceed the contract amount plus contingency at the time
the contract is awarded. Under this same authority, the Director of Public Works is
authorized to approve extensions of time to public works contracts.
3.23.170 Deletions of Work by City Authority.
The City reserves the right to delete up to twenty‐five percent (25%) of the work on a
public works contract where such deletions would advance the project as originally
contemplated.
314
CC 02-21-2024
314 of 456
CITY OF CUPERTINO
Agenda Item
23-12669 Agenda Date: 2/21/2024
Agenda #: 11.
Subject: Councilmember Reports
CITY OF CUPERTINO Printed on 2/14/2024Page 1 of 1
powered by Legistar™315
CC 02-21-2024
315 of 456
1
CITY COUNCIL REPORT
for the “Councilmember Reports” agenda item
under the “COUNCIL REPORTS AND COMMENTS” section
Meeting: Wednesday, February 21, 2024
Reporting Councilmember: Councilmember Liang Chao
Report Activity Dates: 10/03/23 to 2/12/24 (since the last report)
Event Date, Title, and Description:
(This list does not include internal meetings with staff only, such as prep sessions or meetings
with the City Manager.)
2023-10-04 meeting with President of US-China Chamber of Commerce Silicon Valley, which
consists of a group of small businesses run by Chinese Americans.
- We discussed potential opportunities to host lunar new year festivals in Cupertino or surrounding
cities.
2023-10-04 Field Screening “$100 A Day” (click to watch) + panel discussion in Mountain View,
hosted by County Supervisor Joe Simitian.
- The film tells the story of Rick Walker, a man convicted of a crime he didn’t commit, and for which
he was imprisoned for more than a decade. AB 1302 was passed 20 years ago by the legislators to
right these wrongs to provide compensation for false imprisonment.
- What’s most inspiring from the film is how Rick Walker stayed positive against all odds and made
positive contributions to the society, beyond helping others who are like him.
- The Innocence Project is still actively working “to free the innocent, prevent wrongful convictions,
and create fair, compassionate, and equitable systems of justice for everyone.”
2023-10-06 Cal Cities Mental Health Forum in Mountain View, hosted by Cal Cities and County
Supervisor Joe Simitian.
- Resources shared:
- Newsom's Proposed Mental Health Service Act Reform and Bond
- SB 326 (Eggman) and AB 531 (Irwin)
- NAMI Policy Platform
2023-10-07 CASPA Dinner Banquet
316
CC 02-21-2024
316 of 456
2
- Chinese American Semiconductor Professional Association (CASPA) to elect new board members
and President, present highlights of their activities and acknowledge volunteers.
2023-10-08 Tai Ji Men Qigong Academy Ribbon-cutting for a new center in West San Jose
- Tai Ji Meng Qing Kong Academy has been located in De Anza Ave in Cupertino for many years,
providing both physical exercise and mental health support for families. This new center includes
an exhibition hall and more meeting rooms.
2023-10-14 Kids Fun Festival at Milpitas
- Kids Fun Festival has been offered in Memorial Park in Cupertino for many years. This year it is
moved to Milpitas, in a much smaller location. There are performances, food, booths by scouts and
nonprofits.
- The organizers expressed their desire to move back to Cupertino in 2024 if possible.
2023-10-16 Diwali Festival, hosted by the Cupertino Chamber of Commerce, at Memorial Park
- Diwali offers performances and many booths and food. Always colorful and fun.
2023-10-16 Meeting residents at the Cupertino Sports Center
- Residents expressed their desire to preserve CSC, rather than being developed into mixed use, a s
being considered as one of the options in a future Council agenda.
- It is great to hear how appreciative the users of CSC explain how CSC is providing something other
cities do not offer or providing better services.
2023-10-22 California Acupuncture Day in Cupertino Community Hall, hosted by
Assemblymember Evan Low
- The event is hosted to celebrate the historic resolution to declare July 12th, 2023 as California
Acupuncture Day. The day July 12th was chosen because of its historic significance as the date
acupuncture was legalized in California.
- Assembly Low has been working with AACMA (American Association of Chinese Medicine and
Acupuncture) to allow more people to access Chinese medicine and acupuncture with more
healthcare coverage.
2023-10 luncheon and meetings with the Hsinchu City student delegation - did not attend
- I was not able to attend the meetings for Hsinchu City student delegation this year, although I have
attended them almost every year since 2019. I am glad that the other Councilmembers were able
to attend them this year.
2023-11-11 Memorial Day ceremony at Veterans’ Memorial in Memorial Park
- As always, the event offers inspiring speeches and wonderful opportunities for us to pay our
tribute to the Veterans and also others like First Responders for their services and sacrifices for our
country and our communities.
2023-11-18 National API Elected Officials Summit, hosted by API Coalition
- “The API Coalition and CLUSA are hosting an inaugural National API Elected Officials Summit
in San Francisco on November 18-19, immediately following the pre-eminent economic forum,
Asia-Pacific Economic Corporation (APEC) Leaders’ Summit and CEO Summit. The summit will
bring together over 300 API elected officials (1200+ invited) to exchange experiences/ideas and
build relationships. More than 200 government and business leaders from APEC member
countries are also expected to attend.” (From their website)
2023-12-02 Interfaith Celebration: Light Over Darkness Festival. in San Bruno
317
CC 02-21-2024
317 of 456
3
- “Different faith leaders will give a 3 min talk about “Light over Darkness” based on their
scriptures. There will be an Indian dance performance followed by Indian dinner.” (From the
invitation)
- There were speeches from various religions, such as Hinduism, Sikhs, Jewish, Muslim, Christian,
Unity Church, etc. I spoke about Buddhism and Taiwanese folk religion a little.
2024-02-28 "The Chair at Columbia University" a large-scale Chinese immigrant historical drama, at De
Anza College Visual Performing Art Center
- “This remarkable production, organized in collaboration with Maple Silicon Valley Drama (硅谷
枫香剧社) and Chunhui Art Academy, tells the inspiring story of Ding Long, a humble Chinese
laborer who, over a century ago, faced prejudice and discrimination in the United States. Against
all odds, he dared to dream of establishing a "Sinology department" at Columbia University,
contributing to mutual understanding between China and the United States.” (from the
invitation)
- The play is made more interesting knowing that the amateur performers are engineers, and other
professionals who use their spare time to put on this performance.
- The historic event, depicted in this drama, could be verified from the Columbia University’s
website: ““I send you here with a deposit check for $12,000 as a contribution to the fund for
Chinese Learning in your university.” This letter, signed by “Dean Lung, a Chinese person”, was
written to Columbia President Seth Low by the valet of University Trustee General Horace
Walpole Carpentier in 1901. “ (http://ealac.columbia.edu/department/short-history/)
—----------------------------------
Council Comments: (In the past, for this agenda item, each Councilmember reports their activities
and also makes any comments/announcements they feel are important for the community to
know. Thus, I am continuing that tradition here.)
Cupertino Budget Discussions:
- Cupertino’s revenue from sales tax is expected to plunge by $30M from the 2021 level due to a
CDTFA audit. (city site, news article)
- The Annual Actuals from 2012 to 2022 could be found from Cupertino’s OpenGov Transparency
Portal (click on “Annual Actuals”), where you can see how much of our annual revenue comes
from sales tax, property tax etc.
- The City Council has started to look at potential revenue generation options (increasing sales
taxes/TOT tax etc, increasing fees for services) and cost-cutting options (cutting services, stopping
hybrid commission meetings)
- A roadmap of what’s upcoming is in the Feb. 6 Staff Presentation for the Fee Study Agenda Item:
318
CC 02-21-2024
318 of 456
4
-
Housing Element Update:
- The deadline to have a compliant HE is Jan. 31, 2023 and the deadline to complete all rezoning is
Jan. 31, 2024. Cupertino has failed to meet both deadlines, but is expected to submit a compliant
HE by May 2024 and finish rezoning properties in another 3 months.
- The third draft is expected to be published for a 7-day commenting period around Feb. 20 and
then to be submitted to HCD in May. All dates are subject t o change.
- Cupertino settles the lawsuit with YIMBY Law (the judgment and the news article - use SCCL to
access for free)
- With the settlement, the city agrees to a timeline for finalizing the City’s housing element;
- “builder’s remedy” provisions of the Housing Accountability Act will apply until
a compliant housing element is adopted, and requires the City to pay limited fees
and costs to petitioners (totaling $15,000);
- The EIR process would be replaced by an Environment Assessment under this
settlement.
Information from Selected City Newsletters:
- Monthly Development Activity Reports: https://www.cupertino.org/businesses/economic-
development/development-activity-report
- Vallco SB-35 Project: Resubmitted plans on December 5, 2023. Please review
www.cupertino.org/vallcosb35 for plans and modifications.
- Westport: Westport BMR Building now accepting applications for residents. Townhomes
currently for sale.
319
CC 02-21-2024
319 of 456
5
School District related:
- FUHSD By-Trustee-Area Election in November 2024
- FUHSD is drawing boundaries of the 5 Trustee Areas. The FUHSD Board is expected to
adopt the final map right after the 4th Public Hearing on April 24, 2024. Here are the
upcoming community workshops and public hearing dates:
- Upcoming meetings:
- Thursday, Feb. 15 at 6:30pm Community Webinar on Trustee Areas (Zoom link:
https://fuhsd-org.zoom.us/j/97114517518)
- Sunday, Feb. 25 at 3pm Community Webinar on Trustee Areas (Zoom link:
https://fuhsd-org.zoom.us/j/92215579626)
- Oct. 17, 2023 (Presentation - includes proposed maps and revised timeline)
- Tuesday, Feb. 27, 2024 (6:15 p.m.)
- Wednesday, March 20, 2024 (6 p.m.) - likely to finalize the maps
- April 24, 2024 (6 p.m.) - likely final adoption of the resolution
(Last Activity Report in the Oct. 10, 2023 Council Meeting Agenda.)
320
CC 02-21-2024
320 of 456
1
CITY COUNCIL ACTIVITY REPORT
Meeting: February 21, 2024
Reporting Councilmember: Vice Mayor J.R. Fruen
Report Activity Dates: 1/31/24 to 2/12/24
Event Date, Title, and Description:
Event 1. February 1, 2024 – Preparatory Session Re: Fee Study – I received a briefing from staff
and the city’s consultant for the city’s fee study. The fee study is designed to examine the true
and comprehensive cost (inclusive of overhead) for the provision of city services to the public.
The exercise was especially useful as orientation to an otherwise unwieldy document that
allowed for a better and more focused council discussion at the February 6 council meeting.
Event 2. February 2, 2024 – State of the District Address – I attended the Cupertino Union
School District’s annual “State of the District Address” made by CUSD Superintendent Stacy
Yao. The event began with a site visit to an elementary school (Blue Hills) and a middle school
(Kennedy) to see the work of the District in action. Attendees were then returned to the
Quinlan Center for the principal address from the Superintendent, which covered everything
from current performance metrics in the District, to its budget, projected challenges and
opportunities. Based on current projections, the District expects to transition to basic aid
funding in the coming year. Though enrollment continues to decline, the decline is less
pronounced. Filling attainment gaps created during the pandemic is a key priority. All middle
schools in the District are expected to win Distinguished School awards this year.
Event 3. February 6, 2024 – ERA Interview – As part of its regular annual work as the city’s
auditor, Moss Adams interviewed me regarding the current functioning of the city and city
council. I provided feedback and noted areas of potential ongoing risk and upcoming
opportunities to contain said risk.
Event 4. February 8, 2024 – Valley Transportation Authority Policy Advisory Committee
(VTA PAC) Meeting – I attended this meeting in my capacity as Cupertino’s representative on
321
CC 02-21-2024
321 of 456
City Council Councilmember Activity Report
2
the Committee. We elected a new chair (Yvonne Martinez‐Beltran of Morgan Hill) and vice
chair (Raj Chahal of Santa Clara). The Committee recommended that the Board adopt the
Monterey Corridor Community‐Based Transportation Plan, and to adopt the VTA Congestion
Management Plan Document. We also received an update on the VTA’s Transit‐Oriented
Communities (TOC) program, designed to facilitate transit‐oriented development on VTA‐
owned lands, as well as a grant program for cities to engage in similar work. The full agenda is
available here.
Event 5. February 8, 2024 – Cities Association of Santa Clara County Board of Directors
Meeting & Cities Association of Santa Clara County Joint Powers Authority Board of
Directors Meeting – I filled in for Mayor Mohan in my capacity as Vice Mayor and alternate
representative to these two bodies. Pursuant to the votes of Santa Clara County cities, the
existing unincorporated association (the Cities Association of Santa Clara County) voted to
dissolve itself and transfer its assets to the newly formed Cities Association of Santa Clara
County Joint Powers Authority. In addition to taking these actions, the newly formed JPA
confirmed its calendar for the year, and elected an Executive Board consisting of the
unincorporated association’s existing Executive Board: Neysa Fligor of Los Altos, Larry Klein
of Sunnyvale, Margaret Abe‐Koga of Mountain View, Hung Wei of Cupertino, and Tina Walia
of Saratoga. The Board of Directors took initial discussion on how to develop new by‐laws and
voted to delegate initial review and drafting of new by‐laws to the Executive Committee. The
agenda documents for the unincorporated association Board meeting are available here. The
agenda documents for the newly formed JPA Board meeting are available here.
Event 6. February 12, 2024 – Weekly Meeting with the City Manager – I had my regular
weekly meeting with the City Manager to discuss the most recent city council meeting,
upcoming meeting agendas, and various city issues of interest.
Event 7. February 12, 2024 – Fremont Union High School District Community Trustee Area
Districting Committee Information Session – I attended this informational session at Monta
Vista High School in my capacity as a member of the CTAD Committee. We debuted a newly
reconstructed informational presentation (available here) developed by the Committee for
conducting meaningful outreach, and heard feedback from community members in attendance.
All told, approximately 25‐40 attendees joined the meeting at various points of the evening.
Most raised concerns regarding the timing of the District’s outreach and why the District had
chosen to make this change to by‐trustee area elections from at‐large elections. The largest
concern involved a fear that the move would precipitate the closure of either Lynbrook High
School or Monta Vista High School—view that Superintendent Graham Clark and FUHSD
Board Members Rosa Kim and Jeff Moe all refuted. As noted by the Superintendent and the
Board Members, the District’s enrollment figures are nowhere close to warranting a school
closure and enrollment trends are beginning to stabilize. All three further responded to rumors
322
CC 02-21-2024
322 of 456
City Council Councilmember Activity Report
3
in the community that the move to by‐trustee area elections would presage a reopening of
Sunnyvale High School and the closure of a school in the south of the District. According to the
District, the Sunnyvale High School campus is considerably smaller than the District’s
operational campuses, would not be large enough to host the full range of programs currently
offered at other campuses, and would require tens of millions of dollars of upgrades to be
useable. Similarly, they noted, construction of a new, properly sized school campus in northern
Sunnyvale would cost upwards of $500,000,000 and would require voter approval of a bond to
finance. As a result, neither outcome is realistic or financially sound. All three reaffirmed that
there are no plans to close either Lynbrook or Monta Vista (or any other high school, for that
matter).
323
CC 02-21-2024
323 of 456
1
CITY COUNCIL ACTIVITY REPORT
Meeting: February 21, 2024
Reporting Councilmember: Mayor Sheila Mohan
Report Activity Dates: 1/30/24 to 2/12/24
Event Date, Title, and Description:
1/30/24: This was the second day of the two-day Special City Council Meeting at which the
council interviewed Commission and Committee applicants. Council deliberated and selected
individuals to fill the vacant positions on various commissions and committees.
2/1/24: Participated in an interview with Annalise Freimarck of the San Jose Spotlight –
and updated her on significant issues concerning Cupertino.
2/2/24: Attended the CUSD State of the District event at the Quinlan Center
where Superintendent Stacy Yao made a presentation on the state of the schools
and upcoming initiatives for the next school year.
2/3/24: Attended a fund raiser for Patrick Ahrens along with many elected
officials from our neighboring cities.
2/3/24: Attended the India Fest 2024 held at the University of Silicon Andhra
in Milpitas and on behalf of the City presented the organizers with a Certificate of
Recognition for the valuable services they provide to the community.
2/5/24: Met with City IT staff to ensure that city-provided laptop and other
city provided devices were updated with latest cybersecurity software.
2/6/24: Discussed future work plan with Moss Adams representatives, the
324
CC 02-21-2024
324 of 456
City Council Councilmember Activity Report
2
City’s Internal Auditors and emphasized the need to validate all the assumptions
for the City’s upcoming budget preparation.
2/6/24: Attended a workshop for Girls Leadership in Los Altos and made
brief remarks about leadership attributes and how Cupertino involves and
includes young people in activities such as the Teen Commission.
2/7/24: Participated in a zoom call with Sujatha Venkatraman, Executive
Director of West Valley Community Services to discuss initiatives pertaining to
the unhoused population, including finding a humane way of providing housing
in temporary shelters.
2/8/24 Along with Councilmember Moore and Councilmember Wei, I
participated in the ribbon cutting and grand opening of Pacific Workplaces which
provides flexible, move in ready, office space for professionals. This business
which has been in Cupertino for almost 40 years just moved to its new expanded
location. It has 2000 clients using its private offices. I made a brief speech
congratulating Pacific Workplaces for its success and thanking them for continuing
to make Cupertino its home.
2/8/24: As mayor I attended my first Cal Cities Selection Committee meeting
at which we selected committee members for committees such as Association of
Bay Area Governments (ABAG), Local Agency Formation Commission (LAFCO)
and the Recycling Waste and Reduction Commission.
2/10/24: I was a celebrity storyteller at the Cupertino Library, and as part of
the Silicon Valley Reads annual event, I read aloud “To Change a Planet” a
children’s book about the causes of climate change. An enjoyable ‘show and tell’
experience for an audience of about 25 squirming toddlers.
2/12/24: The Holder’s Country Inn was the venue of my first ‘ Chai and Chat
with the Mayor ‘ meeting. About 15 members of the community attended, asked
questions, and reported on issues such as teenage violence, bird safe ordinance,
and artificial turf.
325
CC 02-21-2024
325 of 456
1
CITY COUNCIL ACTIVITY REPORT
Meeting: February 21, 2024
Reporting Councilmember: Councilmember Kitty Moore
Report Activity Dates: 1/8/24 to 2/12/24
Event Date, Title, and Description:
January 8, 2024. 1:1 with City Manager.
January 9, 2024. Housing Element update with City Attorney.
January 12, 2024. Council Procedures review.
January 12, 2024. Prep. Session for January 17, 2024 City Council meeting.
January 16, 2024. 1:1 with City Manager.
January 17, 2024. Staff meeting regarding Budget Unassigned Fund Balance.
January 17, 2024. City Council meeting.
January 19, 2024. CalCities Environmental Quality Policy Committee meeting. 4th
year selected to serve on this CalCities committee. The committee has
councilmembers from across the state discussing pending environmental
legislation.
• Received the CalCities General Briefing
• Received the Cal Cities 2024 Advocacy Priorities:
o 1. Safeguard local revenues and bolster local economic development.
o 2. Strengthen climate change resiliency and disaster preparedness.
326
CC 02-21-2024
326 of 456
City Council Councilmember Activity Report
2
o 3. Improve public safety in California communities.
o 4. Expand investments to prevent and reduce homelessness and increase the
supply of affordable housing.
• Updated the Existing Policy and Guiding principles with minor additions.
• Had a robust discussion on SB 54 (2022) implementation.
• Received a presentation on the Reusable Foodware Ordinance adopted in
Mill Valley which includes a 25 cent cup charge.
• Adopted the 2024 Work Plan
• Received the State Legislation and Budget Review regarding the deficit.
• Received information on opportunities to engage with CalCities.
January 22, 2024. Weekly City Manager 1:1.
January 24, 2024-January 26, 2024. CalCities Mayor and Councilmember Academy,
Monterey, CA. Attended this annual educational conference. The program may be
accessed here: https://www.calcities.org/docs/default-source/advocacy/2024-
mayors-and-council-members-academy-program.pdf?sfvrsn=3c3bb210_3 and the
session materials may be accessed here:
• Resource Guide
• Harassment Prevention Training for Supervisors and Officials (AB 1661)
• Financial Responsibilities and City Revenues
• Social Media Digital Communications And Civic Engagement
• Your Legal Powers and Obligations
• Policy Role in Land Use Planning
• Understanding Public Service Ethics Laws and Principles: AB 1234 Training
• Your Cal Cities and How to Use It
• Developing an Effective City Council and Manager Team - Key to Good
Governance and City Success
• Effective Advocacy and Key City Issues
Financial Responsibilities and City Revenues was particularly beneficial, hosted by
the following presenters:
• Michael Coleman, Fiscal Policy Advisor, League of California Cities,
CaliforniaCityFinance.com
• Christine Turner, City Manager, City of Morgan Hill
327
CC 02-21-2024
327 of 456
City Council Councilmember Activity Report
3
January 25, 2024. Attended the Santa Clara County Library District Joint Power’s
Authority Board of Director’s (SCCLD JPA BOD) meeting representing Cupertino,
held in the Campbell.
• Had pre-meeting regarding Agenda item questions
• Directors recognized Library Employee Excellence Award Recipients
• Accepted various cash donations to libraries
• Received the county Audit Report and asked for updates on the IT
plan implementation
• Accepted the 5-yr Financial Forecast, 10-yr Capital Maintenance Plan
• Approved budget increase to the Storybook library improvement
plans after a robust discussion on these exciting children’s area
upgrades throughout the district and coming to Cupertino this year
• Volunteered for and was accepted to the Finance Committee
January 26, 2024. Joint CalCities Legislative meeting with Santa Clara County
Cities Association and the San Mateo County Council of Cities to hear from local
Assembly and Senate members.
January 28, 2024. Met with local high school students interested in manufacturing
programs.
January 29, 2024. 1:1 meeting with City Manager.
January 29, 2024. SCCLD JPA introductory/overview meeting with SCCLD
leadership.
January 29, 2024. City Council meeting – Commission interviews.
January 30, 2024. City Council meeting – Commission interviews/voting. New app.
Streamlined the voting process.
January 31, 2024. Attended the Silicon Valley Reads kickoff event “A Greener
Tomorrow Starts Today” at De Anza College. You may watch the event here:
https://www.youtube.com/watch?v=G63bxGdq0yw
February 1, 2024. Valley Water District Water Ambassador Recognition dinner and
award night. I was accepted to the Water 101 program and completed it in 2023.
Volunteers from across the county were recognized for their work to improve the
328
CC 02-21-2024
328 of 456
City Council Councilmember Activity Report
4
environment for clean creeks. The Water Ambassador program is still accepting
applications for this excellent and informative program for people who care about
clean water and want to know where our water comes from:
https://www.valleywater.org/application_for_water_101_academy If you have an
idea needing a grant, check out their Grants page here:
https://www.valleywater.org/learning-center/grants-partnerships/mini-grants-
program
February 2, 2024. Fee Study Session prep. Session.
February 3, 2024. Attended the 21st Annual SCCLD Forum. This informative forum
reviewed the library district budget, programs, and projects with a special guest
speaker, Author of The Playful Life – The Power of Play in Our Every Day, Jed
Dearybury from South Carolina who led the group with a session on the
importance of play.
February 4, 2024. Attended CLF Artificial Turf presentation regarding the
environmental impacts of artificial turf.
February 5, 2024. 1:1 with City Manager.
February 5, 2024. Interview with Moss Adams.
February 6, 2024. City Council Meeting.
February 8, 2024. Attended ribbon cutting celebration at Pacific Workplaces. Newly
remodeled, new location at Wolfe Rd. and Stevens Creek Blvd. with many office
shared space offerings including private offices, shared open space, multiple
conference rooms to suit various meeting size needs, phone service, mail service
and more at different price points and service configurations. 38 years in Cupertino!
February 10, 2024. Attended the SVCA Lunar New Year Celebration and 10 Year
Anniversary to ring in the year of the Dragon.
February 12, 2024. 1:1 with City Manager.
January 8, 2024-present. Begin Winter quarter Environmental Studies courses:
Environmental Management Tools: Environmental Management Systems &
329
CC 02-21-2024
329 of 456
City Council Councilmember Activity Report
5
Environmental Performance Reporting and Environmental Resource Mgmt &
Pollution Prevention: Air, Water & Land. Self-funded. I have been studying the
quality management-related ISO 14001 sustainability planning standards, air
pollution controls, and water law and clean-up standards post Cuyahoga River fire
and Clean Water Act of 1972. This is the start of my third year in Environmental
Studies.
330
CC 02-21-2024
330 of 456
1
CITY COUNCIL ACTIVITY REPORT
Meeting: February 21, 2024
Reporting Councilmember: Councilmember Hung Wei
Report Activity Dates: 2/1/24 to 2/12/24
Event Date, Title, and Description:
Event 1. Thursday February 1, 2024 @ 11:00am, ZOOM with Ena Sakar, organizer of the 10th
Year of Dilli Haat in collaboration with Enacte
Zoom meeting with Ena (Sakar), the organizer of Delli Haat which will be held on Saturday
June 1 in Memorial Park, to brainstorm collaborative opportunities with local non‐profit
organizations.
Event 2. Thursday February 1, 2024 @ 2:00pm, meeting with Sayareh and Setareh Farsio at
Alan Enterprise, LLC
Met with Sayareh and Setareh to listen and understand the project challenges.
Event 3. Friday February 2, 2024 @ 2:00pm, Cities Association of Santa Clara
County E‐Board Meeting
Attended the E‐Board Meeting of the Cities Association of Santa Clara at Los Altos
Community Center, reviewed JPA transition progress and timeline, and set future
meeting dates.
Event 4. Saturday February 3, 2024 @ 6:00pm, 40th Year Anniversary and Lunar
New Year Celebration of the Joint Alumni Association of Chinese Universities and
Colleges in Northern California
Attended the Celebratory event and presented a Certificate of Appreciation to the
331
CC 02-21-2024
331 of 456
City Council Councilmember Activity Report
2
Joint Alumni Association and its Keynote Speaker Charles Liang, CEO of
Supermicro.
Event 5. Sunday February 4, 2024 @ 1:30pm, 2024 Lunar New Year Celebration @
Taipei Economic and Culture Office (TECO) in Milpitas
Attended the Annual Lunar New Year Celebration at TECO with live Calligraphy
Writing, Folk Arts Demos and Performances, and New Year Goodies.
Event 6. Monday February 5, 2024 @ 9:00am, Prep Session with Staff on Fee Study
Attended a Prep Session on Fee Study with staff presentation followed by Q&A.
Event 7. Tuesday February 6, 2024 @ 10:00am, Risk Assessment Interview with
Moss Adams
ZOOM meeting with Moss Adams and interviewed by a representative from Moss
Adams for observations/concerns/and questions on risk factors related to city
operations, management, and the City Council.
Event 8. Tuesday February 6. 2024 @ 1:00pm, Signage meeting at Shane Company
Met with Dani Calkins of Shane Company to physical view the signage at Shane
Company.
Event 9. Thursday February 8, 2024 @ 9:00am, Stevens Creek Corridor Steering
Committee Tour
Joined the Steven Creek Corridor Tour starting at Diridon Station in San Jose,
driving along Stevens Creek Blvd., stopping at strategic locations, and ending at De
Anza College in Cupertino, to gather information and collect member feedback.
Event 10. Thursday February 8, 2024 @ 3:00pm, Grand Opening and Ribbon
Cutting at Pacific Workplaces’ new location on Wolfe Road in Cupertino
Attended the Grand Opening and Ribbon Cutting with Mayor Mohan and
Councilmember Kitty Moore. Pacific Workplaces offers a variety of services for
businesses to rent office space as well as virtual conference capability, creating a co‐
332
CC 02-21-2024
332 of 456
City Council Councilmember Activity Report
3
working space to work as well as opportunities for networking.
Event 11. Thursday February 8, 2024 @ 7:00pm, Cities Association Board of
Directors Meeting at Los Altos Community Center
Attended the Cities Association Board of Directors Meeting as a pubic to make
comments and answer questions on the application to continue to serve on the
Cities Association’s E‐Board after the transition to JPA.
Event 12. Saturday February 10, 2024 @ 10:00am, Silicon Valley Korean School’s
Lunar New Year Festival at Cupertino High School
Attended the SVKS Lunar New Year Festival and presented a Certificate of
Appreciation to the Silicon Valley Korean School for the promotion of cultural
understanding. The Festival featured gourmet home‐made food, cultural
performances, and games.
Event 13. Saturday February 10, 2024 @ Noon, community service project by
Cupertino Change Agents at Collins Elementary School
Stopped by Collins Elementary School to speak with youths from Cupertino
Change Agents to see the community service project and to encourage Cupertino
Change Agents to continue to cultivate leadership skills and explore service projects
that make a difference in people’s lives.
Event 14. Monday February 12, 2024 @ 11:30am, Cal Cities Peninsular Division E‐
Board Meeting at Mia Hotel in Menlo Park
Attended Peninsular Division’s E‐Board in‐person meeting in Menlo Park, reviewed
upcoming events, assigned tasks to members, discussed focused topics.
Event 15. Monday February 12, 2024 @ 4:30pm, ZOOM with Cities Association
Executive Director Shali Sirkay
ZOOM met with Cities Association ED Shali to go over Cities Association JPA
Budget.
333
CC 02-21-2024
333 of 456
CITY OF CUPERTINO
Agenda Item
23-12592 Agenda Date: 2/21/2024
Agenda #: 12.
Subject: Receive the Monthly Treasurer's Report for January 2024
Receive the Monthly Treasurer's Report for January 2024
CITY OF CUPERTINO Printed on 2/14/2024Page 1 of 1
powered by Legistar™334
CC 02-21-2024
334 of 456
1
CITY COUNCIL STAFF REPORT
Meeting: February 21, 2024
Subject
Receive the Monthly Treasurer's Report for January 2024
Recommended Action
Receive the Monthly Treasurer's Report for January 2024
Reasons for Recommendation
Background
California Government Code Section 41004 states:
Regularly, at least once each month, the city treasurer shall submit to the city clerk
a written report and accounting of all receipts, disbursements, and fund balances.
The city treasurer shall file a copy with the legislative body.
The City's Municipal Code Section 2.24.030 Monthly Reports states:
The Treasurer shall make monthly reports which conform to the requirements of
Government Code Section 41004. Said reports shall be delivered to the City
Council, the City Manager and made available for review by such other person s
who may so request.
The Treasurer's Report (report and accounting of all receipts, disbursements, and fund
balances) is made available to City Council in compliance with the aforementioned
requirements.
335
CC 02-21-2024
335 of 456
2
Cash vs. Accrual Basis Accounting
Cash basis accounting and accrual basis accounting differ in the way revenues and
expenses are recognized and recorded, primarily with regard to their timing.
Under cash basis accounting, revenues are recorded when payment is received, and
expenses are recorded when payment is made. This method of accounting recognizes
transactions only when cash changes hands. In contrast, accrual basis accounting
recognizes revenues when they are earned (but not necessarily received) and expenses
when they are incurred (but not necessarily paid). This method of accounting recognizes
transactions as they occur, regardless of whether cash has been exchanged.
Receipts, disbursements, and cash balance are measured on a cash basis. The cash balance
shows the total cash and investments in the City's accounts. The ending balance is the
beginning balance plus receipts minus disbursements. Journal adjustments generally
include transactions recorded in other systems and imported into New World, Council-
approved budget adjustments, quarterly Cost Allocation Plan (CAP) charges, and
quarterly interest earnings.
Revenues, expenditures, and fund balance are measured on an accrual basis. As a result,
the amount in fund balance does not mean the City has that much cash on hand. Instead,
fund balance is the difference between assets and liabilities. The ending balance is the
beginning balance plus revenues minus expenditures.
Treasurer's Report
The report provides an update on the City's cash and fund balances for January 2024. The
report is as of February 12, 2024.
Receipts, Disbursements, and Cash Balance
The City's General Fund ending cash and investment balance was $150.4 million,
increasing by $8.7 million from the prior month. Receipts were $13.6 million,
disbursements were $(5.0) million, and journal adjustments were $42,000 for the month.
The City's total ending cash and investment balance was $250.1 million, increasing by
$10.1 million from the prior month. Receipts were $16.1 million, disbursements were $(6.5)
million, and journal adjustments were $0.5 million for the month.
Journal adjustments included the following:
Parks and Recreation transactions imported from Active Network into New
World
Quarterly LAIF interest deposit
Correcting deposit for Zoning Map Amendment
336
CC 02-21-2024
336 of 456
3
Fund Balance/Net Position
The City's General Fund ending fund balance was $144.2 million, increasing by $5.7
million from the prior month due to revenues of $11.5 million and expenditures of $5.8
million.
The City's total ending fund balance was $237.0 million, increasing by $5.6 million from
the prior month due to revenues of $13.1 million and expenditures of $7.5 million.
Sustainability Impact
No sustainability impact.
Fiscal Impact
No fiscal impact.
California Environmental Quality Act
Not applicable.
_____________________________________
Prepared by: __________________
Thomas Leung
Budget Manager
Reviewed by: __________________
Kristina Alfaro
Director of Administrative Services
Approved for Submission by: __________________
Pamela Wu
City Manager
Attachments:
A – Report of City-wide Receipts, Disbursements, and Cash Balances January 2024
B – Report of City‐wide Fund Balances/Net Position January 2024
337
CC 02-21-2024
337 of 456
January 2024 Report of City‐wide Receipts, Disbursements, and Cash Balances
Cash and Investments
Beginning Balance Ending Balance
Fund Type Fund Number/Name as of December 31, 2023 Receipts Disbursements Journal Adjustments as of January 31, 2024
General Fund 100 General Fund 141,757,203 13,649,385 (5,015,267) 42,128 150,433,448
General Fund 130 Investment Fund 10,540 ‐ ‐ 218,885 229,425
Special Revenue Funds 210 Storm Drain Improvement 391,201 ‐ (1,050) ‐ 390,151
Special Revenue Funds 215 Storm Drain AB1600 1,944,338 728 ‐ ‐ 1,945,066
Special Revenue Funds 230 Env Mgmt Cln Crk Strm Drain 276,890 818,268 (73,481) ‐ 1,021,678
Special Revenue Funds 260 CDBG 282,718 1,324 (3,520) ‐ 280,522
Special Revenue Funds 261 HCD Loan Rehab 222,300 ‐ ‐ ‐ 222,300
Special Revenue Funds 265 BMR Housing 4,945,579 ‐ (47,795) ‐ 4,897,784
Special Revenue Funds 270 Transportation Fund 13,696,066 1,382,959 (115,952) ‐ 14,963,073
Special Revenue Funds 271 Traffic Impact 789,492 ‐ ‐ ‐ 789,492
Special Revenue Funds 280 Park Dedication 19,012,453 ‐ (9,199) ‐ 19,003,254
Special Revenue Funds 281 Tree Fund 70,784 515 ‐ ‐ 71,299
Debt Service Funds 365 Public Facilities Corp 2,361,650 ‐ ‐ ‐ 2,361,650
Capital Project Funds 420 Capital Improvement Fund 25,705,725 74,431 (138,877) ‐ 25,641,278
Capital Project Funds 427 Stevens Creek Corridor Park 154,692 ‐ (1,247) ‐ 153,444
Capital Project Funds 429 Capital Reserve*10,574,444 ‐ ‐ ‐ 10,574,444
Enterprise Funds 520 Resource Recovery 4,909,234 135,799 (129,929) ‐ 4,915,103
Enterprise Funds 560 Blackberry Farm 871,101 833 (45,999) 34,563 860,498
Enterprise Funds 570 Sports Center 1,132,052 ‐ (90,734) 180,181 1,221,499
Enterprise Funds 580 Recreation Program 3,160,811 29,470 (87,259) 68,097 3,171,119
Internal Service Funds 610 Innovation & Technology 3,774,548 240 (451,601) ‐ 3,323,187
Internal Service Funds 620 Workersʹ Compensation 3,603,061 ‐ (5,291) ‐ 3,597,770
Internal Service Funds 630 Vehicle/Equip Replacement 1,583,746 ‐ (189,983) ‐ 1,393,764
Internal Service Funds 641 Compensated Absence/LTD 837,957 ‐ 291 ‐ 838,248
Internal Service Funds 642 Retiree Medical (2,034,145) ‐ (119,867) ‐ (2,154,011)
Total 240,034,437$ 16,093,951$ (6,526,759)$ 543,853$ 250,145,483$
* For reporting purposes, this fund rolls up/combines with Fund 420
Printed February 12, 2024
For more information on funds, please see cupertino.org/fund‐structure
33
8
CC 02-21-2024
338 of 456
January 2024 Report of City‐wide Fund Balances/Net Position
Beginning Fund Balance Ending Fund Balance
Fund Type Fund Number/Name as of December 31, 2023 Revenues Expenditures as of January 31, 2024
General Fund 100 General Fund 138,499,778 11,477,425 5,818,915 144,158,287
General Fund 130 Investment Fund 229,425 ‐ ‐ 229,425
Special Revenue Funds 210 Storm Drain Improvement 1,502,326 ‐ ‐ 1,502,326
Special Revenue Funds 215 Storm Drain AB1600 1,901,647 728 ‐ 1,902,375
Special Revenue Funds 230 Env Mgmt Cln Crk Strm Drain 996,442 816,939 96,736 1,716,646
Special Revenue Funds 260 CDBG 1,226,480 301 7,313 1,219,468
Special Revenue Funds 261 HCD Loan Rehab 222,300 ‐ ‐ 222,300
Special Revenue Funds 265 BMR Housing 5,206,368 ‐ 65,727 5,140,642
Special Revenue Funds 270 Transportation Fund 11,309,323 229,905 155,289 11,383,938
Special Revenue Funds 271 Traffic Impact 772,603 ‐ ‐ 772,603
Special Revenue Funds 280 Park Dedication 18,777,408 ‐ ‐ 18,777,408
Special Revenue Funds 281 Tree Fund 78,355 515 ‐ 78,870
Debt Service Funds 365 Public Facilities Corp 6,850 ‐ ‐ 6,850
Capital Project Funds 420 Capital Improvement Fund 21,066,140 ‐ 127,925 20,938,215
Capital Project Funds 427 Stevens Creek Corridor Park 156,899 ‐ ‐ 156,899
Capital Project Funds 429 Capital Reserve*13,953,210 ‐ ‐ 13,953,210
Enterprise Funds 520 Resource Recovery 4,193,971 135,330 166,604 4,162,697
Enterprise Funds 560 Blackberry Farm 667,252 36,057 64,456 638,854
Enterprise Funds 570 Sports Center 1,564,758 208,198 111,172 1,661,783
Enterprise Funds 580 Recreation Program 2,480,675 141,699 92,727 2,529,647
Internal Service Funds 610 Innovation & Technology 2,451,239 ‐ 447,522 2,003,718
Internal Service Funds 620 Workersʹ Compensation 2,169,623 ‐ 6,604 2,163,019
Internal Service Funds 630 Vehicle/Equip Replacement 2,840,244 ‐ 212,097 2,628,147
Internal Service Funds 641 Compensated Absence/LTD 675,994 8,512 8,221 676,285
Internal Service Funds 642 Retiree Medical (1,480,737) ‐ 119,867 (1,600,604)
Total 231,468,573$ 13,055,608$ 7,501,174$ 237,023,007$
* For reporting purposes, this fund rolls up/combines with Fund 420
Printed February 12, 2024
For more information on funds, please see cupertino.org/fund‐structure
33
9
CC 02-21-2024
339 of 456
CITY OF CUPERTINO
Agenda Item
23-12593 Agenda Date: 2/21/2024
Agenda #: 13.
Subject: Receive the Monthly Treasurer's Investment Report for January 2024
Receive the Monthly Treasurer's Investment Report for January 2024
CITY OF CUPERTINO Printed on 2/14/2024Page 1 of 1
powered by Legistar™340
CC 02-21-2024
340 of 456
CHANDLER ASSET MANAGEMENT, INC. | 800.317.4747 | www.chandlerasset.com
INVESTMENT REPORT
Period Ending January 31, 2024
City of Cupertino
341
CC 02-21-2024
341 of 456
SECTION 1 Economic Update
SECTION 2 Account Profile
SECTION 3 Portfolio Holdings
SECTION 4 Transactions
Table of Contents As of January 31, 2024
1
342
CC 02-21-2024
342 of 456
SECTION |Section 1 |Economic Update
2
343
CC 02-21-2024
343 of 456
Economic Update
Recent economic data has shown above trend growth fueled by a rise in consumer spending and a continuing healthy US job market.
Inflationary trends are subsiding, but core levels remain above the Fed’s target.Given the cumulative effects of restrictive monetary policy
and tighter financial conditions, we believe the economy will gradually soften and the Fed will loosen monetary policy in 2024.
As expected at the January meeting,the Federal Open Market Committee voted unanimously to leave the Federal Funds rate unchanged at
a target range of 5.25 -5.50%.Fed Chair Powell signaled that the federal funds rate is likely at or near its peak, but discounted market
expectations of a rate cut in March.We believe the FOMC will loosen monetary policy in mid-2024 as inflation and economic growth
continue to moderate.
US Treasury rates declined minimally in the front-end of the yield curve in January. The 2-year Treasury yield declined 4 basis points to
4.21%,the 5-year Treasury yield dropped 1 basis point to 3.84%,and the 10-year Treasury yield decreased 3 basis points to 3.91%.The
inversion between the 2-year Treasury yield and 10-year Treasury yield narrowed to -30 basis points at January month-end versus -37 basis
points at December month-end. The spread between the 2-year Treasury and 10-year Treasury yield one year ago was -69 basis points. The
inversion between 3-month and 10-year Treasuries remained at -146 basis points in January from December. Interest rates peaked in the
third quarter of 2023 prior to Fed Chair Powell’s dovish remarks late in the year,which resulted in a decline in yields across the curve.The
Fed signaled a shift towards less restrictive monetary policy in 2024.The shape of the yield curve indicates that the probability of
recession persists.
3
344
CC 02-21-2024
344 of 456
Employment
-400
-200
0
200
400
600
800
1,000
MO
M
C
h
a
n
g
e
I
n
T
h
o
u
s
a
n
d
s
(
0
0
0
'
s
)
Nonfarm Payroll (000's)
Non-farm Payroll (000's)
3-month average (000's)
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
Unemployment Rate
Underemployment Rate (U6)
Unemployment Rate (U3)
Ra
t
e
(
%
)
The U.S. economy added 353,000 jobs in January, vastly exceeding consensus expectations of 185,000, and upwardly revised 333,000 jobs
in December.Leading sectors included professional and business services,health care,retail trade,and social assistance.The trajectory
of job creation has increased,with the three-month moving average payrolls at 289,000 and the six-month moving average at 248,000.
The unemployment rate remained unchanged at 3.7%for the third month, and the labor participation rate was unchanged at 62.5%,
remaining below the pre-pandemic level of 63.3%.The U-6 underemployment rate,which includes those who are marginally attached to
the labor force and employed part time for economic reasons rose to 7.2%from 7.1%last month.Average hourly earnings rose 4.5%year-
over-year in January, increasing from an upwardly revised 4.3% gain last month. Employment remains strong by historical standards.
Source: US Department of Labor Source: US Department of Labor
4
345
CC 02-21-2024
345 of 456
Inflation
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
9.0%
10.0%
Consumer Price Index (CPI)
CPI YOY % Change
Core CPI YOY % Change
YO
Y
(
%
)
C
h
a
n
g
e
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
9.0%
10.0%
Personal Consumption Expenditures (PCE)
PCE Price Deflator YOY % Change
PCE Core Deflator YOY % Change
Fed Target
YO
Y
(
%
)
C
h
a
n
g
e
The Consumer Price Index (CPI)increased 0.3%month-over-month and 3.4%year-over-year in December,increasing from 3.1%year-over-
year in November.The Core CPI,which excludes volatile food and energy components,was up 0.3%month-over-month and 3.9%year-
over-year,down from November.Shelter costs remain elevated,contributing to more than half of the overall increase while motor-vehicle
insurance costs jumped by over 20%,the most since 1976.The Personal Consumption Expenditures (PCE)Index headline inflation
increased 0.2%month-over-month and rose 2.6%year-over-year in line with November.Core PCE,the Federal Reserve’s preferred
inflation gauge,increased 0.2%month-over-month and continued its deceleration to 2.9%year-over-year in December from a 3.2%year-
over-year in November. The trend is moderating, but inflation remains above the Fed's 2% target.
Source: US Department of Labor Source: US Department of Commerce
5
346
CC 02-21-2024
346 of 456
Federal Reserve
Source: Federal Reserve Source: Bloomberg
0
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
9,000,000
10,000,000
Federal Reserve Balance Sheet Assets
Recession
In
$
m
i
l
l
i
o
n
s
As expected at the January meeting, the Federal Open Market Committee voted unanimously to leave the federal funds rate unchanged at
a target range of 5.25-5.50%. The Fed assesses the progress to achieving its employment and inflation goals are moving into better
balance, yet changes to monetary policy remain data dependent. The Committee does not expect it will be appropriate to reduce the
target range until it has gained greater confidence that inflation is moving sustainably toward 2 percent. However, Fed Chair Powell
signaled that the federal funds rate is likely at or near its peak. The futures market is pricing in 5 rate cuts in 2024. We believe the FOMC
will loosen monetary policy in mid-2024 as inflation and economic growth continue to moderate. Since the Fed began its Quantitative
Tightening campaign in June 2022, securities holdings have declined by over $1.3T to approximately $7.6T.
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
Effective Federal Funds Rate
Recession
Yi
e
l
d
(
%
)
6
347
CC 02-21-2024
347 of 456
Bond Yields
Source: Bloomberg Source: Bloomberg
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
US Treasury Note Yields
2-Year
5-Year
10-Year
Y
i
e
l
d
(
%
)
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
US Treasury Yield Curve
Jan-24
Oct-23
Jan-23
Yi
e
l
d
(
%
)
At the end of January, the 2-year Treasury yield was 1 basis point lower,and the 10-Year Treasury yield was 40 basis points lower,year-
over-year.The inversion between the 2-year Treasury yield and 10-year Treasury yield narrowed to -30 basis points at January month-end
versus -37 basis points at December month-end. The average historical spread (since 2003)is about +130 basis points. The inversion
between 3-month and 10-year Treasuries was unchanged at -146 basis points in January from December.The shape of the yield curve
indicates that the probability of recession persists.
7
348
CC 02-21-2024
348 of 456
Periodic Table of Asset Class Returns As of January 31, 2024
Index returns as of 1/31/2024. Past performance is not indicative of future results. Index returns assume reinvestment of all distributions and do not reflect fees or expenses. It is not possible to invest directly in an
index. This information is not intended to constitute an offer, solicitation, recommendation, or advice regarding securities or investment strategy. Please see attached Asset Class Disclosure.
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 YTD 2024
US Real Estate
30.4%
US Real Estate
2.5%
US Small Cap
Stocks
20.4%
Emerging Market
Stocks
37.3%
International
Bonds
3.2%
US Large Cap
Stocks
31.5%
US Mid Cap
Stocks
19.8%
US Real Estate
43.1%
Diversified
Commodities
26.0%
US Large Cap
Stocks
26.3%
Diversified
Commodities
4.5%
US Large Cap
Stocks
13.7%
US Large Cap
Stocks
1.4%
US High Yield
Bonds
17.5%
International
Stocks
25.0%
US Core Bonds
0.0%
US Mid Cap
Stocks
30.6%
US Small Cap
Stocks
19.2%
Diversified
Commodities
40.4%
US High Yield
Bonds
-11.2%
US Small Cap
Stocks
19.1%
US Large Cap
Stocks
1.7%
US Mid Cap
Stocks
13.4%
International
Bonds
1.3%
US Mid Cap
Stocks
12.6%
US Large Cap
Stocks
21.8%
US High Yield
Bonds
-2.3%
US Small Cap
Stocks
25.9%
US Large Cap
Stocks
18.4%
US Large Cap
Stocks
28.7%
International
Bonds
-12.7%
International
Stocks
18.2%
International
Stocks
0.6%
International
Bonds
9.1%
US Core Bonds
0.6%
US Large Cap
Stocks
12.0%
US Mid Cap
Stocks
20.3%
US Large Cap
Stocks
-4.4%
US Real Estate
25.8%
Emerging Market
Stocks
18.3%
US Mid Cap
Stocks
24.0%
US Core Bonds
-13.3%
US Mid Cap
Stocks
14.5%
US High Yield
Bonds
0.0%
US Core Bonds
6.4%
US Mid Cap
Stocks
-0.6%
Diversified
Commodities
11.4%
International
Real Estate
20.0%
US Real Estate
-4.6%
International
Stocks
22.0%
International
Stocks
7.8%
US Small Cap
Stocks
21.1%
International
Stocks
-14.5%
US Real Estate
13.7%
US Core Bonds
-0.2%
US Small Cap
Stocks
6.1%
International
Stocks
-0.8%
Emerging Market
Stocks
11.2%
US Small Cap
Stocks
15.2%
International
Real Estate
-6.4%
International
Real Estate
21.0%
US Core Bonds
7.6%
International
Stocks
11.3%
US Mid Cap
Stocks
-16.9%
US High Yield
Bonds
13.5%
International
Bonds
-0.4%
International
Real Estate
2.8%
International
Real Estate
-3.8%
US Real Estate
8.6%
US High Yield
Bonds
7.5%
US Mid Cap
Stocks
-8.1%
Emerging Market
Stocks
18.4%
US High Yield
Bonds
6.2%
International
Real Estate
8.1%
US Small Cap
Stocks
-17.8%
Emerging Market
Stocks
9.8%
US Mid Cap
Stocks
-1.4%
US High Yield
Bonds
2.5%
US Small Cap
Stocks
-4.1%
International
Bonds
4.9%
Diversified
Commodities
5.8%
US Small Cap
Stocks
-11.0%
Diversified
Commodities
17.6%
International
Bonds
4.7%
US High Yield
Bonds
5.4%
US Large Cap
Stocks
-18.1%
International
Bonds
8.7%
International
Real Estate
-3.7%
Emerging Market
Stocks
-2.2%
High Yield Bonds
-4.6%
US Core Bonds
2.6%
US Real Estate
5.1%
International
Stocks
-13.8%
US High Yield
Bonds
14.4%
International
Real Estate
-7.1%
US Core Bonds
-1.6%
Emerging Market
Stocks
-20.1%
International
Real Estate
6.3%
US Small Cap
Stocks
-3.8%
International
Stocks
-4.9%
Emerging Market
Stocks
-14.9%
International
Real Estate
1.3%
US Core Bonds
3.6%
Diversified
Commodities
-13.8%
US Core Bonds
9.0%
US Real Estate
-7.6%
International
Bonds
-2.1%
International
Real Estate
-24.3%
US Core Bonds
5.4%
US Real Estate
-4.1%
Diversified
Commodities
-33.1%
Diversified
Commodities
-32.9%
International
Stocks
1.0%
International
Bonds
2.6%
Emerging Market
Stocks
-14.6%
International
Bonds
8.1%
Diversified
Commodities
-23.7%
Emerging Market
Stocks
-2.5%
US Real Estate
-24.5%
Diversified
Commodities
-4.3%
Emerging Market
Stocks
-4.6%
8
349
CC 02-21-2024
349 of 456
Section 2|SECTION |Section 2 |Account Profile
9
350
CC 02-21-2024
350 of 456
Objectives
Chandler Asset Management Performance Objective
The performance objective for the portfolio is to earn a total rate of return through a market cycle that is
equal to or above the return on the benchmark index.
Investment Objectives
The City of Cupertino’s investment objectives, in order of priority, are to provide safety to ensure the
preservation of capital in the overall portfolio, provide sufficient liquidity for cash needs and a market rate
of return consistent with the investment program.
Strategy
In order to achieve these objectives, the portfolio invests in high quality fixed incomes securities
consistent with the investment policy and California Government Code.
As of January 31, 2024
10
351
CC 02-21-2024
351 of 456
Compliance As of January 31, 2024
Category Standard Comment
Treasury Issues No Limitation Complies
Agency Issues 25% per Agency/GSE issuer; 20% max agency callable securities; Issued by Federal Agencies or U.S. Government Sponsored
Enterprise obligations.Complies
Supranational "AA" rating category or better by a NRSRO; 30% maximum; 10% max per issuer; USD denominated senior unsecured
unsubordinated obligations issued or unconditionally guaranteed by IBRD, IFC, or IADB.Complies
Municipal Securities
"A" rating category or better by a NRSRO; 30% maximum; 5% max per issuer; Obligations of the City, State of California,
and any local agency within the State of California; Obligations of any of the other 49 states in addition to California,
including bonds payable solely out of the revenues from a revenue-producing property owned, controlled, or operated by a
state or by a department, board, agency, or authority of any of the other 49 states in addition to California.
Complies
Corporate Medium Term Notes "A" rating category or better by a NRSRO; 30% maximum; 5% max per issuer; Issued by corporations organized and
operating within the U.S. or by depository institutions licensed by the U.S. or any state and operating within the U.S.Complies
Asset Backed/ Mortgage Backed/
Collateralized Mortgage Obligation
"AA" rating category or better by a NRSRO; 20% maximum; 5% max per issuer on Asset-Backed or Commercial Mortgage
security; There is no issuer limitation on any Mortgage security where the issuer is the U.S. Treasury or a Federal
Agency/GSE .
Complies
Negotiable Certificates of Deposit
(NCDs)
No rating required if amount of the NCD is insured up to the FDIC limit; If above FDIC insured limit, requires "A-1" short-
term rated or "A" long-term rating category or better by a NRSRO; 30% maximum; 5% max per issuer; Issued by nationally
or state chartered banks, state or federal savings associations, or state or federal credit unions, or by a federally licensed
or state-licensed branch of a foreign bank.
Complies
Certificates of Deposit (CDs)/Time
Deposit (TDs)
30% maximum; 5% max per issuer; Certificates of Deposit, Time Deposit, non-negotiable, and collateralized in accordance
with California Government Code.Complies
Banker’s Acceptances "A-1" short-term rated or better by a NRSRO; or "A" long-term rating category or better by a NRSRO; 40% maximum; 5%
max per issuer; 180 days max maturity Complies
Commercial Paper
"A-1" short term rated or better a NRSRO; "A" long-term issuer rating category or better by a NRSRO; 25% maximum; 5%
max per issuer; 270 days max maturity; Issued by corporations organized and operating in the U.S. with assets > $500
million; 10% max outstanding paper of the issuing corporation.
Complies
Money Market Funds
20% maximum; Daily money market funds administered for or by trustees, paying agents and custodian banks contracted
by a City of Cupertino as allowed under California Government Code; Only funds holding U.S. Treasury obligations,
Government agency obligations or repurchase agreements collateralized by U.S. Treasury or Government agency
obligations can be utilized.
Complies
Local Agency Investment Fund (LAIF) Maximum amount permitted by LAIF; Not used by investment adviser Complies
City of Cupertino
Assets managed by Chandler Asset Management are in full compliance with state law and with the City's investment policy.
11
352
CC 02-21-2024
352 of 456
Compliance As of January 31, 2024
Category Standard Comment
Repurchase Agreements 1 year max maturity; 102% collateralized; A PSA Master Repurchase Agreement is required between City of Cupertino and
the broke/dealer or financial institution for all repurchase agreements; Not used by investment adviser Complies
Prohibited Securities
Reverse Repurchase Agreement; Common stocks; Long-term (> 5 years maturity) notes and bonds; Special circumstances
arise that necessitate purchase of securities beyond the 5-year limitation. On such occasions, request must be approved
by City Council prior to purchase; Futures/Options; Inverse floaters; Ranges notes, Mortgage-derived, Interest-only strips;
Zero interest accrual securities; Purchasing/selling securities on margin; Foreign currency denominated securities.
Complies
Minimum Budgeted Operating
Expenditures in Short Term Investments
Minimum 6 months of budgeted operating expenditures in short term investments to provide sufficient liquidity for
expected disbursements Complies
Max Per Issuer 5% per issuer, unless otherwise specified in the policy Complies
Maximum maturity 5 years Complies
City of Cupertino
Assets managed by Chandler Asset Management are in full compliance with state law and with the City's investment policy.
12
353
CC 02-21-2024
353 of 456
Portfolio Summary –City of Cupertino #10659 As of January 31, 2024
13
354
CC 02-21-2024
354 of 456
Purchase Yield as of 01/31/24 = 2.24%
0.00
0.50
1.00
1.50
2.00
2.50
Pe
r
c
e
n
t
(
%
)
Historical Average Purchase Yield
City of Cupertino
As of January 31, 2024
14
355
CC 02-21-2024
355 of 456
SECTION |Section 3 |Portfolio Holdings
15
356
CC 02-21-2024
356 of 456
Issue Name Investment Type % Portfolio
Government of United States US Treasury 35.68%
Federal National Mortgage Association Agency 8.75%
Federal Home Loan Mortgage Corp Agency 3.77%
Federal Home Loan Mortgage Corp CMO 3.72%
Federal Home Loan Bank Agency 2.26%
Federal Farm Credit Bank Agency 1.87%
American Express ABS ABS 1.84%
Royal Bank of Canada Corporate 1.63%
Toyota Motor Corp Corporate 1.59%
JP Morgan Chase & Co Corporate 1.54%
Bank of America Corp Corporate 1.53%
John Deere ABS ABS 1.53%
International Finance Corp Supranational 1.52%
Bank of New York Corporate 1.52%
Inter-American Dev Bank Supranational 1.48%
Intl Bank Recon and Development Supranational 1.45%
Toronto Dominion Holdings Corporate 1.40%
Northwestern Mutual Glbl Corporate 1.26%
Paccar Financial Corporate 1.23%
Hyundai Auto Receivables ABS 1.20%
Honda ABS ABS 1.17%
GM Financial Securitized Term Auto Trust ABS 1.16%
Bank of Montreal Chicago Corporate 1.16%
Amazon.com Inc Corporate 1.13%
Toyota ABS ABS 1.12%
Metlife Inc Corporate 1.12%
Salesforce.com Inc Corporate 1.11%
Prudential Financial Inc Corporate 1.10%
JP Morgan ABS ABS 1.10%
Morgan Stanley Corporate 1.08%
Air Products & Chemicals Corporate 1.07%
United Health Group Inc Corporate 1.05%
New York Life Global Funding Corporate 1.05%
Berkshire Hathaway Corporate 1.00%
Guardian Life Global Funding Corporate 0.84%
US Bancorp Corporate 0.80%
Mercedes-Benz ABS 0.73%
Caterpillar Inc Corporate 0.70%
Issuers
City of Cupertino –Account #10659
As of January 31, 2024
16
357
CC 02-21-2024
357 of 456
Issue Name Investment Type % Portfolio
MasterCard Inc Corporate 0.64%
Mass Mutual Insurance Corporate 0.59%
Charles Schwab Corp/The Corporate 0.59%
Bank of America Credit Card Trust ABS 0.56%
State of California Municipal Bonds 0.48%
Northern Trust Corp Corporate 0.43%
Toyota Lease Owner Trust ABS 0.36%
BMW ABS ABS 0.31%
GM Financial Automobile Leasing Trust ABS 0.24%
Wal-Mart Stores Corporate 0.21%
Wells Fargo 100% Treasury MMKT Fund Money Market Fund 0.14%
Hyundai Auto Lease Securitization ABS 0.11%
BMW Vehicle Lease Trust ABS 0.05%
TOTAL 100.00%
Issuers
City of Cupertino –Account #10659
As of January 31, 2024
17
358
CC 02-21-2024
358 of 456
Holdings Report
City of Cupertino -Account #10659
CUSIP Security Description Par Value/Units Purchase Date
Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
ABS
44891WAC3 Hyundai Auto Lease Trust 2022-A A3
1.160% Due 01/15/2025
170,049.66 01/11/2022
1.16%
170,045.91
170,049.32
99.55
5.25%
169,290.39
87.67
0.11%
(758.93)
Aaa / AAA
NR
0.96
0.11
89238LAC4 Toyota Lease Owner Trust 2022-A A3
1.960% Due 02/20/2025
565,790.14 02/23/2022
1.98%
565,701.08
565,775.35
99.40
5.59%
562,377.29
338.85
0.36%
(3,398.06)
NR / AAA
AAA
1.06
0.17
36265MAC9 GM Financial Auto Lease Trust 2022-1 A3
1.900% Due 03/20/2025
366,626.08 02/15/2022
1.91%
366,622.92
366,625.76
99.52
5.47%
364,860.04
212.85
0.24%
(1,765.72)
Aaa / NR
AAA
1.13
0.13
05601XAC3 BMW Vehicle Lease Trust 2022-1 A3
1.100% Due 03/25/2025
70,743.30 01/11/2022
1.11%
70,732.72
70,742.60
99.57
5.54%
70,441.93
12.97
0.05%
(300.67)
NR / AAA
AAA
1.15
0.10
43813GAC5 Honda Auto Receivables Trust 2021-1 A3
0.270% Due 04/21/2025
38,943.76 02/17/2021
0.27%
38,943.05
38,943.73
99.04
5.83%
38,571.54
2.92
0.02%
(372.19)
Aaa / NR
AAA
1.22
0.17
89240BAC2 Toyota Auto Receivables Owners 2021-A A3
0.260% Due 05/15/2025
150,186.32 02/02/2021
0.27%
150,158.45
150,185.26
99.11
5.84%
148,850.56
17.35
0.10%
(1,334.70)
Aaa / NR
AAA
1.29
0.16
44933LAC7 Hyundai Auto Receivables Trust 2021-A A3
0.380% Due 09/15/2025
125,907.94 04/20/2021
0.38%
125,894.69
125,906.70
98.83
5.51%
124,429.66
21.26
0.08%
(1,477.04)
NR / AAA
AAA
1.62
0.23
43815GAC3 Honda Auto Receivables Trust 2021-4 A3
0.880% Due 01/21/2026
296,510.93 11/16/2021
0.89%
296,448.42
296,490.57
97.36
5.43%
288,684.82
72.48
0.19%
(7,805.75)
Aaa / NR
AAA
1.98
0.58
47789QAC4 John Deere Owner Trust 2021-B A3
0.520% Due 03/16/2026
323,465.50 07/13/2021
0.52%
323,436.65
323,456.67
97.46
5.42%
315,262.09
74.76
0.20%
(8,194.58)
Aaa / NR
AAA
2.12
0.52
89238JAC9 Toyota Auto Receivables Trust 2021-D A3
0.710% Due 04/15/2026
283,392.65 11/09/2021
0.71%
283,386.60
283,390.71
97.24
5.54%
275,573.28
89.43
0.18%
(7,817.43)
NR / AAA
AAA
2.21
0.57
43815BAC4 Honda Auto Receivables Trust 2022-1 A3
1.880% Due 05/15/2026
676,845.05 02/15/2022
1.89%
676,743.25
676,804.49
97.67
5.29%
661,090.12
565.54
0.43%
(15,714.37)
Aaa / AAA
NR
2.29
0.68
44935FAD6 Hyundai Auto Receivables Trust 2021-C A3
0.740% Due 05/15/2026
847,644.95 Various
2.03%
826,212.70
840,384.68
97.48
5.63%
826,247.00
278.78
0.53%
(14,137.68)
NR / AAA
AAA
2.29
0.51
05602RAD3 BMW Vehicle Owner Trust 2022-A A3
3.210% Due 08/25/2026
484,681.67 05/10/2022
3.23%
484,656.46
484,670.33
98.44
5.51%
477,101.73
259.30
0.31%
(7,568.60)
Aaa / AAA
NR
2.57
0.69
362554AC1 GM Financial Securitized Term 2021-4 A3
0.680% Due 09/16/2026
236,278.03 10/13/2021
0.68%
236,272.00
236,276.04
96.77
5.75%
228,636.09
66.95
0.15%
(7,639.95)
Aaa / AAA
NR
2.63
0.64
47787JAC2 John Deere Owner Trust 2022-A A3
2.320% Due 09/16/2026
355,884.56 03/10/2022
2.34%
355,805.83
355,848.12
97.86
5.30%
348,283.58
366.96
0.23%
(7,564.54)
Aaa / NR
AAA
2.63
0.72
448977AD0 Hyundai Auto Receivables Trust 2022-A A3
2.220% Due 10/15/2026
922,024.14 03/09/2022
2.23%
921,988.64
922,009.19
97.83
5.39%
901,981.17
909.73
0.58%
(20,028.02)
NR / AAA
AAA
2.71
0.69
380146AC4 GM Financial Auto Receivables 2022-1 A3
1.260% Due 11/16/2026
231,389.97 01/11/2022
1.27%
231,369.85
231,382.17
97.25
5.41%
225,029.29
121.48
0.15%
(6,352.88)
NR / AAA
AAA
2.79
0.66
As of January 31, 2024
18
359
CC 02-21-2024
359 of 456
Holdings Report
City of Cupertino -Account #10659
CUSIP Security Description Par Value/Units Purchase Date
Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
362585AC5 GM Financial Securitized ART 2022-2 A3
3.100% Due 02/16/2027
390,000.00 04/05/2022
3.13%
389,918.49
389,961.39
98.21
5.34%
383,020.95
503.75
0.25%
(6,940.44)
Aaa / AAA
NR
3.05
0.80
47800AAC4 John Deere Owner Trust 2022-B A3
3.740% Due 02/16/2027
655,000.00 07/12/2022
3.77%
654,937.45
654,964.32
98.57
5.16%
645,647.91
1,088.76
0.42%
(9,316.41)
Aaa / NR
AAA
3.05
1.02
02589BAA8 American Express Credit Accoun 22-1 A
2.210% Due 03/15/2027
1,545,000.00 03/21/2022
2.69%
1,524,359.77
1,537,259.91
96.98
5.05%
1,498,268.39
1,517.53
0.97%
(38,991.52)
Aaa / NR
AAA
3.12
1.08
02582JJT8 American Express Credit Trust 2022-2 A
3.390% Due 05/17/2027
1,375,000.00 05/17/2022
3.42%
1,374,695.85
1,374,868.77
98.18
4.90%
1,350,041.00
2,071.67
0.87%
(24,827.77)
NR / AAA
AAA
3.29
1.23
47800BAC2 John Deere Owner Trust 2022-C A3
5.090% Due 06/15/2027
1,050,000.00 10/12/2022
5.15%
1,049,918.52
1,049,947.21
99.99
5.15%
1,049,914.95
2,375.33
0.68%
(32.26)
Aaa / NR
AAA
3.37
1.26
89231FAD2 Toyota Auto Recievables Owner 2023-C A3
5.160% Due 04/17/2028
1,300,000.00 11/21/2023
5.65%
1,294,718.75
1,295,482.70
100.75
4.84%
1,309,685.00
2,981.33
0.85%
14,202.30
NR / AAA
AAA
4.21
1.96
438123AC5 Honda Auto Receivables OT 2023-4 A3
5.670% Due 06/21/2028
805,000.00 Various
5.63%
806,992.67
806,864.45
102.06
4.80%
821,547.58
1,267.88
0.53%
14,683.13
Aaa / NR
AAA
4.39
2.18
58769FAC9 Mercedes-Benz Auto Receivables 2023-2 A3
5.950% Due 11/15/2028
1,100,000.00 11/29/2023
3.88%
1,123,289.06
1,120,529.91
102.85
4.11%
1,131,324.70
2,908.89
0.73%
10,794.79
NR / AAA
AAA
4.79
1.47
05522RDH8 Bank of America Credit Card Tr BACCT 2023-A2 A2
4.980% Due 11/15/2028
850,000.00 01/24/2024
4.28%
858,798.83
858,747.27
101.31
4.52%
861,151.15
1,881.33
0.56%
2,403.88
Aaa / NR
AAA
4.79
2.55
36268GAD7 GM Financial Securitized Term 2024-1 A3
4.850% Due 12/18/2028
950,000.00 01/23/2024
4.90%
950,074.22
950,073.93
100.36
4.74%
953,412.40
1,791.81
0.62%
3,338.47
Aaa / NR
AAA
4.88
2.27
161571HV9 Chase Issuance Trust 2024-A1 A
4.600% Due 01/16/2029
1,690,000.00 01/24/2024
4.66%
1,689,742.61
1,689,742.85
100.33
4.52%
1,695,511.09
215.94
1.10%
5,768.24
NR / AAA
AAA
4.96
2.71
TOTAL ABS 17,856,364.65 3.42%
17,841,865.44
17,867,384.40 5.02%
17,726,235.70
22,103.50
11.48%
(141,148.70)
Aaa / AAA
AAA
3.40
1.33
Agency
3130A1XJ2 FHLB Note
2.875% Due 06/14/2024
1,500,000.00 06/18/2019
1.96%
1,564,890.20
1,504,772.38
99.17
5.16%
1,487,487.00
5,630.21
0.97%
(17,285.38)
Aaa / AA+
NR
0.37
0.36
3135G0V75 FNMA Note
1.750% Due 07/02/2024
1,500,000.00 07/16/2019
1.96%
1,484,895.00
1,498,732.91
98.56
5.26%
1,478,371.50
2,114.58
0.96%
(20,361.41)
Aaa / AA+
AA+
0.42
0.41
3130A2UW4 FHLB Note
2.875% Due 09/13/2024
2,000,000.00 09/13/2019
1.79%
2,103,380.00
2,012,752.47
98.72
5.01%
1,974,348.00
22,041.67
1.29%
(38,404.47)
Aaa / AA+
NR
0.62
0.59
3135G0W66 FNMA Note
1.625% Due 10/15/2024
1,975,000.00 Various
1.73%
1,965,802.75
1,973,668.98
97.68
5.01%
1,929,164.20
9,449.83
1.25%
(44,504.78)
Aaa / AA+
AA+
0.71
0.68
As of January 31, 2024
19
360
CC 02-21-2024
360 of 456
Holdings Report
City of Cupertino -Account #10659
CUSIP Security Description Par Value/Units Purchase Date
Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
3135G0X24 FNMA Note
1.625% Due 01/07/2025
1,295,000.00 Various
1.38%
1,309,953.95
1,297,899.23
97.14
4.80%
1,257,898.25
1,402.92
0.81%
(40,000.98)
Aaa / AA+
AA+
0.94
0.91
3137EAEP0 FHLMC Note
1.500% Due 02/12/2025
2,365,000.00 02/13/2020
1.52%
2,363,178.95
2,364,623.82
96.83
4.68%
2,290,067.34
16,653.54
1.49%
(74,556.48)
Aaa / AA+
AA+
1.04
1.00
3135G03U5 FNMA Note
0.625% Due 04/22/2025
1,860,000.00 04/22/2020
0.67%
1,856,168.40
1,859,063.11
95.32
4.60%
1,772,901.78
3,196.88
1.15%
(86,161.33)
Aaa / AA+
AA+
1.22
1.19
3135G04Z3 FNMA Note
0.500% Due 06/17/2025
2,500,000.00 Various
0.50%
2,499,227.30
2,499,845.45
94.75
4.47%
2,368,800.00
1,527.78
1.53%
(131,045.45)
Aaa / AA+
AA+
1.38
1.34
3137EAEU9 FHLMC Note
0.375% Due 07/21/2025
1,250,000.00 07/21/2020
0.48%
1,243,775.00
1,248,170.72
94.43
4.32%
1,180,340.00
130.21
0.76%
(67,830.72)
Aaa / AA+
AA+
1.47
1.44
3135G05X7 FNMA Note
0.375% Due 08/25/2025
2,500,000.00 Various
0.48%
2,487,983.75
2,496,129.92
93.98
4.39%
2,349,562.51
4,062.51
1.52%
(146,567.41)
Aaa / AA+
AA+
1.57
1.53
3137EAEX3 FHLMC Note
0.375% Due 09/23/2025
2,500,000.00 Various
0.46%
2,489,362.80
2,496,427.71
93.69
4.40%
2,342,210.00
3,333.33
1.52%
(154,217.71)
Aaa / AA+
AA+
1.65
1.60
3135G06G3 FNMA Note
0.500% Due 11/07/2025
2,500,000.00 Various
0.56%
2,492,700.00
2,497,413.58
93.52
4.35%
2,337,992.50
2,916.67
1.51%
(159,421.08)
Aaa / AA+
AA+
1.77
1.72
3133EPC60 FFCB Note
4.625% Due 11/15/2027
2,800,000.00 11/09/2023
4.73%
2,789,612.00
2,790,166.60
102.30
3.96%
2,864,422.40
27,338.89
1.87%
74,255.80
Aaa / AA+
AA+
3.79
3.42
TOTAL Agency 26,545,000.00 1.44%
26,650,930.10
26,539,666.88 4.59%
25,633,565.48
99,799.02
16.65%
(906,101.40)
Aaa / AA+
AA+
1.45
1.38
CMO
3137BFE98 FHLMC K041 A2
3.171% Due 10/25/2024
1,283,264.51 07/01/2021
0.72%
1,380,411.65
1,303,236.38
98.44
5.36%
1,263,295.63
3,391.03
0.82%
(39,940.75)
Aaa / AAA
AAA
0.73
0.62
3137BLMZ8 FHLMC K049 A2
3.010% Due 07/25/2025
1,000,000.00 07/01/2021
0.87%
1,079,687.50
1,028,260.31
97.49
4.82%
974,933.33
2,508.33
0.63%
(53,326.98)
NR / NR
AAA
1.48
1.30
3137BLW95 FHLMC K050 A2
3.334% Due 08/25/2025
950,000.00 11/16/2021
1.17%
1,018,132.81
977,585.97
97.86
4.79%
929,658.60
2,639.42
0.60%
(47,927.37)
NR / NR
AAA
1.57
1.35
3137BM7C4 FHLMC K051 A2
3.308% Due 09/25/2025
440,000.00 03/15/2022
2.21%
453,079.69
445,985.80
97.64
4.83%
429,634.48
1,212.93
0.28%
(16,351.32)
NR / NR
AAA
1.65
1.43
3137BN6G4 FHLMC KO53
2.995% Due 12/25/2025
570,000.00 03/15/2022
2.29%
582,001.17
576,035.42
97.14
4.64%
553,724.81
1,422.63
0.36%
(22,310.61)
NR / NR
AAA
1.90
1.65
3137BSP72 FHLMC K058 A2
2.653% Due 08/25/2026
650,000.00 11/12/2021
1.35%
687,451.17
669,880.95
95.57
4.48%
621,234.90
1,437.04
0.40%
(48,646.05)
NR / NR
AAA
2.57
2.38
As of January 31, 2024
20
361
CC 02-21-2024
361 of 456
Holdings Report
City of Cupertino -Account #10659
CUSIP Security Description Par Value/Units Purchase Date
Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
3137FBBX3 FHLMC K068 A2
3.244% Due 08/25/2027
1,000,000.00 09/28/2022
4.41%
950,664.06
964,264.32
96.24
4.38%
962,447.00
2,703.33
0.62%
(1,817.32)
Aaa / NR
NR
3.57
3.23
TOTAL CMO 5,893,264.51 1.75%
6,151,428.05
5,965,249.15 4.81%
5,734,928.75
15,314.71
3.72%
(230,320.40)
Aaa / AAA
AAA
1.85
1.64
Corporate
89114QCA4 Toronto Dominion Bank Note
2.650% Due 06/12/2024
1,500,000.00 09/11/2019
2.24%
1,527,255.00
1,502,074.78
99.00
5.44%
1,484,985.00
5,410.42
0.96%
(17,089.78)
A1 / A
AA-
0.36
0.36
06367TQW3 Bank of Montreal Note
0.625% Due 07/09/2024
600,000.00 02/09/2022
1.89%
582,216.00
596,783.10
97.93
5.46%
587,568.00
229.17
0.38%
(9,215.10)
A2 / A-
AA-
0.44
0.43
79466LAG9 Salesforce.com Inc Callable Note Cont 7/15/2022
0.625% Due 07/15/2024
1,760,000.00 Various
0.87%
1,748,937.40
1,758,093.64
97.87
5.41%
1,722,557.76
488.88
1.11%
(35,535.88)
A2 / A+
NR
0.45
0.44
78013XZU5 Royal Bank of Canada Note
2.550% Due 07/16/2024
1,500,000.00 Various
1.99%
1,533,359.18
1,503,685.20
98.68
5.50%
1,480,206.00
1,593.76
0.96%
(23,479.20)
A1 / A
AA-
0.46
0.45
91159HHX1 US Bancorp Callable Note Cont 6/28/2024
2.400% Due 07/30/2024
1,250,000.00 10/10/2019
2.07%
1,268,262.50
1,251,573.25
98.52
5.45%
1,231,448.75
83.33
0.80%
(20,124.50)
A3 / A
A
0.50
0.49
009158AV8 Air Products & Chemicals Callable Note Cont 4/30/2024
3.350% Due 07/31/2024
1,675,000.00 08/07/2019
2.07%
1,771,212.00
1,679,961.11
99.01
5.39%
1,658,362.23
155.87
1.07%
(21,598.88)
A2 / A
NR
0.50
0.49
69371RR40 Paccar Financial Corp Note
0.500% Due 08/09/2024
680,000.00 08/03/2021
0.52%
679,632.80
679,936.34
97.49
5.44%
662,940.84
1,624.44
0.43%
(16,995.50)
A1 / A+
NR
0.52
0.51
69371RQ25 Paccar Financial Corp Note
2.150% Due 08/15/2024
370,000.00 08/08/2019
2.20%
369,182.30
369,912.28
98.36
5.28%
363,913.50
3,668.14
0.24%
(5,998.78)
A1 / A+
NR
0.54
0.52
14913Q3B3 Caterpillar Finl Service Note
2.150% Due 11/08/2024
1,100,000.00 01/28/2020
1.92%
1,111,517.00
1,101,855.66
97.80
5.10%
1,075,775.80
5,452.64
0.70%
(26,079.86)
A2 / A
A+
0.77
0.75
74153WCQ0 Pricoa Global Funding Note
1.150% Due 12/06/2024
885,000.00 12/01/2021
1.19%
884,088.45
884,742.53
96.54
5.39%
854,343.60
1,554.90
0.55%
(30,398.93)
Aa3 / AA-
AA-
0.85
0.82
89114TZL9 Toronto-Dominion Bank Note
1.450% Due 01/10/2025
700,000.00 03/15/2022
2.79%
674,737.00
691,562.65
96.61
5.19%
676,249.00
592.08
0.44%
(15,313.65)
A1 / A
NR
0.95
0.91
89236TJT3 Toyota Motor Credit Corp Note
1.450% Due 01/13/2025
1,215,000.00 01/10/2022
1.50%
1,213,371.90
1,214,484.53
96.71
5.04%
1,174,988.84
880.88
0.76%
(39,495.69)
A1 / A+
A+
0.95
0.92
64952WEK5 New York Life Global Note
1.450% Due 01/14/2025
1,680,000.00 01/11/2022
1.49%
1,678,185.60
1,679,423.89
96.56
5.20%
1,622,208.00
1,150.33
1.05%
(57,215.89)
Aaa / AA+
AAA
0.96
0.93
69371RR73 Paccar Financial Corp Note
2.850% Due 04/07/2025
885,000.00 03/31/2022
2.86%
884,769.90
884,909.51
97.88
4.71%
866,223.84
7,987.13
0.57%
(18,685.67)
A1 / A+
NR
1.18
1.14
As of January 31, 2024
21
362
CC 02-21-2024
362 of 456
Holdings Report
City of Cupertino -Account #10659
CUSIP Security Description Par Value/Units Purchase Date
Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
78016EZ59 Royal Bank of Canada Note
3.375% Due 04/14/2025
1,050,000.00 04/07/2022
3.39%
1,049,611.50
1,049,844.74
98.21
4.92%
1,031,166.15
10,532.81
0.67%
(18,678.59)
A1 / A
AA-
1.20
1.15
06406RBC0 Bank of NY Mellon Corp Callable Note Cont 3/25/2025
3.350% Due 04/25/2025
1,370,000.00 04/19/2022
3.35%
1,369,808.20
1,369,921.35
98.06
4.99%
1,343,354.87
12,238.67
0.88%
(26,566.48)
A1 / A
AA-
1.23
1.18
06367WB85 Bank of Montreal Note
1.850% Due 05/01/2025
1,240,000.00 07/23/2021
0.85%
1,285,656.80
1,255,119.25
96.26
4.97%
1,193,626.48
5,735.00
0.78%
(61,492.77)
A2 / A-
AA-
1.25
1.21
46647PCH7 JP Morgan Chase & Co Callable Note Cont 6/1/2024
0.824% Due 06/01/2025
1,370,000.00 05/24/2021
0.78%
1,371,773.90
1,370,195.84
98.34
5.88%
1,347,231.98
1,881.47
0.87%
(22,963.86)
A1 / A-
AA-
1.33
0.33
46647PCK0 JP Morgan Chase & Co Callable Note Cont 6/23/2024
0.969% Due 06/23/2025
655,000.00 Various
0.95%
655,406.85
655,053.13
98.10
5.87%
642,559.59
669.96
0.42%
(12,493.54)
A1 / A-
AA-
1.39
0.39
66815L2J7 Northwestern Mutual Glbl Note
4.000% Due 07/01/2025
1,170,000.00 06/27/2022
4.01%
1,169,602.20
1,169,812.71
98.95
4.78%
1,157,677.56
3,900.00
0.75%
(12,135.15)
Aaa / AA+
AAA
1.42
1.36
74153WCM9 Pricoa Global Funding Note
0.800% Due 09/01/2025
904,000.00 04/06/2022
3.26%
832,972.72
870,945.44
93.85
4.88%
848,407.62
3,013.33
0.55%
(22,537.82)
Aa3 / AA-
AA-
1.59
1.53
06406HCQ0 Bank of New York Callable Note Cont 10/18/2025
3.950% Due 11/18/2025
1,000,000.00 04/05/2022
3.20%
1,024,910.00
1,012,068.80
98.48
4.84%
984,774.00
8,009.72
0.64%
(27,294.80)
A1 / A
AA-
1.80
1.70
40139LBC6 Guardian Life Glob Fun Note
0.875% Due 12/10/2025
1,400,000.00 Various
1.12%
1,385,860.00
1,393,722.84
92.83
4.96%
1,299,554.20
1,735.42
0.84%
(94,168.64)
Aa1 / AA+
NR
1.86
1.80
66815L2A6 Northwestern Mutual Glbl Note
0.800% Due 01/14/2026
850,000.00 12/06/2021
1.47%
827,449.50
839,266.68
92.64
4.79%
787,418.75
321.11
0.51%
(51,847.93)
Aaa / AA+
AAA
1.96
1.89
06051GHY8 Bank of America Corp Callable Note Cont 2/13/2025
2.015% Due 02/13/2026
600,000.00 05/24/2021
1.05%
620,988.00
605,837.72
96.44
5.59%
578,647.80
5,642.00
0.38%
(27,189.92)
A1 / A-
AA-
2.04
0.99
46647PBK1 JP Morgan Chase & Co Callable Note Cont 4/22/2025
2.083% Due 04/22/2026
401,000.00 05/20/2021
1.11%
415,969.33
405,672.02
96.16
5.34%
385,621.25
2,297.03
0.25%
(20,050.77)
A1 / A-
AA-
2.22
1.18
6174468Q5 Morgan Stanley Callable Note Cont 4/28/2025
2.188% Due 04/28/2026
650,000.00 05/23/2022
4.93%
615,699.50
630,457.80
96.40
5.20%
626,623.40
3,674.02
0.41%
(3,834.40)
A1 / A-
A+
2.24
1.20
023135BX3 Amazon.com Inc Callable Note Cont 4/12/2026
1.000% Due 05/12/2026
1,875,000.00 05/10/2021
1.09%
1,866,900.00
1,871,313.75
92.62
4.44%
1,736,630.63
4,114.58
1.13%
(134,683.12)
A1 / AA
AA-
2.28
2.21
As of January 31, 2024
22
363
CC 02-21-2024
363 of 456
Holdings Report
City of Cupertino -Account #10659
CUSIP Security Description Par Value/Units Purchase Date
Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
91324PEC2 United Health Group Inc Callable Note Cont 4/15/2026
1.150% Due 05/15/2026
1,035,000.00 Various
1.38%
1,025,051.35
1,029,835.39
92.85
4.47%
961,027.52
2,512.74
0.62%
(68,807.87)
A2 / A+
A
2.29
2.21
89236TJK2 Toyota Motor Credit Corp Note
1.125% Due 06/18/2026
1,385,000.00 06/15/2021
1.13%
1,384,390.60
1,384,710.32
92.57
4.45%
1,282,048.80
1,861.09
0.83%
(102,661.52)
A1 / A+
A+
2.38
2.30
06051GJD2 Bank of America Corp Callable Note Cont 6/19/2025
1.319% Due 06/19/2026
700,000.00 07/16/2021
1.27%
701,274.00
700,449.02
94.62
5.39%
662,372.90
1,077.18
0.43%
(38,076.12)
A1 / A-
AA-
2.38
1.34
57629WDE7 Mass Mutual Global funding Note
1.200% Due 07/16/2026
1,000,000.00 08/19/2021
1.15%
1,002,230.00
1,001,117.49
91.56
4.88%
915,616.00
500.00
0.59%
(85,501.49)
Aa3 / AA+
AA+
2.46
2.37
58989V2D5 Met Tower Global Funding Note
1.250% Due 09/14/2026
770,000.00 09/07/2021
1.27%
769,291.60
769,629.12
91.35
4.80%
703,367.28
3,662.85
0.46%
(66,261.84)
Aa3 / AA-
AA-
2.62
2.51
931142ER0 Wal-Mart Stores Callable Note Cont 08/17/2026
1.050% Due 09/17/2026
350,000.00 09/08/2021
1.09%
349,338.50
349,652.59
92.20
4.22%
322,698.60
1,367.92
0.21%
(26,953.99)
Aa2 / AA
AA
2.63
2.53
61690U7W4 Morgan Stanley Bank NA Callable Note Cont 9/30/2026
5.882% Due 10/30/2026
1,000,000.00 Various
5.88%
1,000,082.50
1,000,075.63
102.83
4.73%
1,028,259.01
14,705.01
0.67%
28,183.38
Aa3 / A+
AA-
2.75
2.42
59217GER6 Metlife Note
1.875% Due 01/11/2027
1,115,000.00 01/03/2022
1.90%
1,113,728.90
1,114,251.68
91.90
4.86%
1,024,712.88
1,161.46
0.66%
(89,538.80)
Aa3 / AA-
AA-
2.95
2.80
808513BY0 Charles Schwab Corp Callable Note Cont 2/3/2027
2.450% Due 03/03/2027
960,000.00 03/01/2022
2.46%
959,729.90
959,831.51
93.37
4.78%
896,364.48
9,669.33
0.59%
(63,467.03)
A2 / A-
A
3.09
2.89
084664CZ2 Berkshire Hathaway Callable Note Cont 2/15/2027
2.300% Due 03/15/2027
1,615,000.00 03/07/2022
2.30%
1,614,693.15
1,614,808.76
94.58
4.17%
1,527,447.62
14,032.56
1.00%
(87,361.14)
Aa2 / AA
A+
3.12
2.94
06051GHT9 Bank of America Corp Callable Note 1X 4/23/2026
3.559% Due 04/23/2027
1,150,000.00 Various
4.93%
1,114,222.54
1,125,520.00
96.64
5.17%
1,111,332.40
11,141.65
0.73%
(14,187.60)
A1 / A-
AA-
3.23
2.09
665859AW4 Northern Trust Company Callable Note Cont 4/10/2027
4.000% Due 05/10/2027
670,000.00 05/05/2022
4.04%
668,914.60
669,290.27
98.57
4.47%
660,439.10
6,030.00
0.43%
(8,851.17)
A2 / A+
A+
3.27
3.01
91324PEG3 United Health Group Inc Callable Note Cont 4/15/2027
3.700% Due 05/15/2027
675,000.00 05/17/2022
3.69%
675,316.70
675,208.53
97.94
4.38%
661,073.40
5,272.50
0.43%
(14,135.13)
A2 / A+
A
3.29
3.04
As of January 31, 2024
23
364
CC 02-21-2024
364 of 456
Holdings Report
City of Cupertino -Account #10659
CUSIP Security Description Par Value/Units Purchase Date
Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
57636QAW4 MasterCard Inc Callable Note Cont 2/9/28
4.875% Due 03/09/2028
945,000.00 03/06/2023
4.90%
944,083.35
944,248.42
102.80
4.11%
971,471.34
18,171.56
0.64%
27,222.92
Aa3 / A+
NR
4.11
3.57
TOTAL Corporate 43,705,000.00 2.17%
43,741,683.22
43,636,859.27 5.01%
42,153,296.77
185,802.94
27.39%
(1,483,562.50)
A1 / A+
AA-
1.67
1.46
Money Market Fund
94975H270 Wells Fargo 100% Treasury Money Mkt Fund 214,782.55 Various
4.90%
214,782.55
214,782.55
1.00
4.90%
214,782.55
0.00
0.14%
0.00
Aaa / AAA
NR
0.00
0.00
TOTAL Money Market Fund 214,782.55 4.90%
214,782.55
214,782.55 4.90%
214,782.55
0.00
0.14%
0.00
Aaa / AAA
NR
0.00
0.00
Municipal Bonds
13063DRK6 California State Taxable GO
2.400% Due 10/01/2024
755,000.00 10/16/2019
1.91%
772,342.35
757,336.03
98.26
5.08%
741,871.31
6,040.00
0.48%
(15,464.72)
Aa2 / AA-
AA
0.67
0.64
TOTAL Municipal Bonds 755,000.00 1.91%
772,342.35
757,336.03 5.08%
741,871.31
6,040.00
0.48%
(15,464.72)
Aa2 / AA-
AA
0.67
0.64
Supranational
45950KCT5 International Finance Corp Note
0.375% Due 07/16/2025
2,500,000.00 05/27/2021
0.66%
2,471,150.00
2,489,827.79
94.19
4.53%
2,354,862.50
390.63
1.52%
(134,965.29)
Aaa / AAA
NR
1.46
1.42
459058JL8 Intl. Bank Recon & Development Note
0.500% Due 10/28/2025
2,400,000.00 Various
0.60%
2,388,859.25
2,395,879.39
93.49
4.42%
2,243,788.80
3,100.00
1.45%
(152,090.59)
Aaa / AAA
AAA
1.74
1.70
4581X0DV7 Inter-American Dev Bank Note
0.875% Due 04/20/2026
2,460,000.00 04/13/2021
0.97%
2,448,733.20
2,455,008.30
92.95
4.24%
2,286,491.28
6,038.96
1.48%
(168,517.02)
Aaa / AAA
AAA
2.22
2.15
TOTAL Supranational 7,360,000.00 0.74%
7,308,742.45
7,340,715.48 4.40%
6,885,142.58
9,529.59
4.46%
(455,572.90)
Aaa / AAA
AAA
1.80
1.75
US Treasury
912828XX3 US Treasury Note
2.000% Due 06/30/2024
2,000,000.00 Various
1.80%
2,018,574.22
2,001,578.14
98.70
5.18%
1,974,062.00
3,516.48
1.28%
(27,516.14)
Aaa / AA+
AA+
0.41
0.41
912797GB7 US Treasury Bill
5.119% Due 07/11/2024
1,000,000.00 07/27/2023
5.39%
950,378.99
977,108.93
97.71
5.39%
977,108.93
0.00
0.63%
0.00
P-1 / A-1+
F-1+
0.44
0.43
912797GK7 US Treasury Bill
5.119% Due 08/08/2024
1,000,000.00 08/30/2023
5.39%
951,232.07
973,127.88
97.31
5.39%
973,127.88
0.00
0.63%
0.00
P-1 / A-1+
F-1+
0.52
0.51
As of January 31, 2024
24
365
CC 02-21-2024
365 of 456
Holdings Report
City of Cupertino -Account #10659
CUSIP Security Description Par Value/Units Purchase Date
Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
912828D56 US Treasury Note
2.375% Due 08/15/2024
1,700,000.00 09/18/2019
1.71%
1,753,191.41
1,705,817.81
98.56
5.10%
1,675,562.50
18,651.49
1.10%
(30,255.31)
Aaa / AA+
AA+
0.54
0.52
912797GL5 US Treasury Bill
5.162% Due 09/05/2024
1,000,000.00 09/25/2023
5.44%
950,526.04
968,881.60
96.89
5.44%
968,881.60
0.00
0.63%
0.00
P-1 / A-1+
F-1+
0.60
0.58
912828YY0 US Treasury Note
1.750% Due 12/31/2024
2,100,000.00 03/15/2022
1.97%
2,087,203.13
2,095,813.76
97.29
4.81%
2,043,153.00
3,230.77
1.32%
(52,660.76)
Aaa / AA+
AA+
0.92
0.89
912828ZC7 US Treasury Note
1.125% Due 02/28/2025
1,500,000.00 03/18/2020
0.81%
1,523,144.53
1,505,033.65
96.30
4.68%
1,444,453.50
7,139.42
0.94%
(60,580.15)
Aaa / AA+
AA+
1.08
1.05
91282CED9 US Treasury Note
1.750% Due 03/15/2025
3,100,000.00 Various
2.23%
3,057,617.20
3,083,960.93
96.87
4.65%
3,003,004.10
20,716.34
1.96%
(80,956.83)
Aaa / AA+
AA+
1.12
1.08
912828ZL7 US Treasury Note
0.375% Due 04/30/2025
2,500,000.00 03/21/2022
2.24%
2,360,839.85
2,444,335.94
94.97
4.57%
2,374,317.50
2,395.26
1.54%
(70,018.44)
Aaa / AA+
AA+
1.25
1.22
91282CAB7 US Treasury Note
0.250% Due 07/31/2025
1,500,000.00 03/12/2021
0.72%
1,469,765.63
1,489,676.07
94.01
4.42%
1,410,117.00
10.30
0.91%
(79,559.07)
Aaa / AA+
AA+
1.50
1.47
91282CAM3 US Treasury Note
0.250% Due 09/30/2025
2,400,000.00 Various
0.56%
2,366,140.63
2,387,699.39
93.51
4.34%
2,244,187.20
2,032.79
1.45%
(143,512.19)
Aaa / AA+
AA+
1.67
1.62
91282CAT8 US Treasury Note
0.250% Due 10/31/2025
2,450,000.00 Various
0.49%
2,422,492.19
2,439,940.30
93.23
4.31%
2,284,242.80
1,564.90
1.48%
(155,697.50)
Aaa / AA+
AA+
1.75
1.71
91282CAZ4 US Treasury Note
0.375% Due 11/30/2025
2,250,000.00 03/26/2021
0.77%
2,209,658.20
2,234,213.05
93.20
4.27%
2,097,069.75
1,452.36
1.36%
(137,143.30)
Aaa / AA+
AA+
1.83
1.79
91282CBH3 US Treasury Note
0.375% Due 01/31/2026
2,500,000.00 05/27/2021
0.75%
2,456,445.31
2,481,395.60
92.70
4.22%
2,317,577.50
25.76
1.50%
(163,818.10)
Aaa / AA+
AA+
2.00
1.95
91282CBW0 US Treasury Note
0.750% Due 04/30/2026
2,500,000.00 05/27/2021
0.80%
2,493,652.34
2,497,108.60
92.79
4.14%
2,319,825.00
4,790.52
1.50%
(177,283.60)
Aaa / AA+
AA+
2.25
2.18
91282CCZ2 US Treasury Note
0.875% Due 09/30/2026
1,400,000.00 10/18/2021
1.19%
1,379,054.68
1,388,733.34
92.13
4.02%
1,289,804.60
4,150.27
0.84%
(98,928.74)
Aaa / AA+
AA+
2.67
2.58
91282CDG3 US Treasury Note
1.125% Due 10/31/2026
1,400,000.00 11/15/2021
1.25%
1,391,468.75
1,395,269.85
92.49
4.04%
1,294,890.80
4,024.04
0.84%
(100,379.05)
Aaa / AA+
AA+
2.75
2.65
91282CJP7 US Treasury Note
4.375% Due 12/15/2026
2,500,000.00 12/28/2023
4.01%
2,525,097.66
2,524,309.01
100.95
4.02%
2,523,827.50
14,344.26
1.64%
(481.51)
Aaa / AA+
AA+
2.87
2.66
91282CEW7 US Treasury Note
3.250% Due 06/30/2027
3,250,000.00 Various
3.18%
3,260,312.50
3,256,851.99
97.77
3.96%
3,177,382.00
9,285.71
2.06%
(79,469.99)
Aaa / AA+
AA+
3.41
3.19
91282CFB2 US Treasury Note
2.750% Due 07/31/2027
400,000.00 08/22/2022
3.12%
393,218.75
395,200.85
96.09
3.96%
384,343.60
30.22
0.25%
(10,857.25)
Aaa / AA+
AA+
3.50
3.29
91282CFH9 US Treasury Note
3.125% Due 08/31/2027
4,500,000.00 Various
3.28%
4,468,902.34
4,477,622.71
97.25
3.95%
4,376,425.50
59,495.19
2.87%
(101,197.21)
Aaa / AA+
AA+
3.58
3.30
As of January 31, 2024
25
366
CC 02-21-2024
366 of 456
Holdings Report
City of Cupertino -Account #10659
CUSIP Security Description Par Value/Units Purchase Date
Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
91282CFM8 US Treasury Note
4.125% Due 09/30/2027
3,450,000.00 Various
4.31%
3,421,152.34
3,428,533.63
100.61
3.94%
3,471,024.30
48,215.16
2.28%
42,490.67
Aaa / AA+
AA+
3.67
3.33
91282CFZ9 US Treasury Note
3.875% Due 11/30/2027
850,000.00 12/05/2022
3.81%
852,656.25
852,040.35
99.76
3.94%
847,974.45
5,669.57
0.55%
(4,065.90)
Aaa / AA+
AA+
3.83
3.51
91282CGC9 US Treasury Note
3.875% Due 12/31/2027
2,750,000.00 Various
3.67%
2,775,107.42
2,769,954.74
99.80
3.93%
2,744,629.25
9,368.14
1.78%
(25,325.49)
Aaa / AA+
AA+
3.92
3.59
91282CGH8 US Treasury Note
3.500% Due 01/31/2028
3,000,000.00 02/07/2023
3.81%
2,957,929.69
2,966,214.16
98.45
3.92%
2,953,476.00
288.46
1.91%
(12,738.16)
Aaa / AA+
AA+
4.00
3.69
91282CGP0 US Treasury Note
4.000% Due 02/29/2028
3,700,000.00 Various
4.00%
3,699,113.28
3,699,385.45
100.29
3.92%
3,710,552.40
62,615.38
2.44%
11,166.95
Aaa / AA+
AA+
4.08
3.67
TOTAL US Treasury 56,700,000.00 2.54%
56,194,875.40
56,439,807.73 4.30%
54,881,020.66
283,012.79
35.68%
(1,558,787.07)
Aaa / AA+
AA+
2.42
2.26
TOTAL PORTFOLIO 159,029,411.71 2.24%
158,876,649.56
158,761,801.49 4.65%
153,970,843.80
621,602.55
100.00%
(4,790,957.69)
Aa1 / AA
AA+
2.10
1.73
TOTAL MARKET VALUE PLUS ACCRUALS 154,592,446.35
As of January 31, 2024
26
367
CC 02-21-2024
367 of 456
SECTION |Section 4 |Transactions
27
368
CC 02-21-2024
368 of 456
Transaction Ledger
City of Cupertino -Account #10659
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/Disp
Yield Amount Interest
Pur/Sold Total Amount Gain/Loss
ACQUISITIONS
Purchase 01/25/2024 36268GAD7 950,000.00 GM Financial Securitized Term 2024-1 A3
4.85% Due: 12/18/2028
100.008 4.90%950,074.22 1,023.89 951,098.11 0.00
Purchase 01/26/2024 05522RDH8 850,000.00 Bank of America Credit Card Tr BACCT 2023-A2 A2
4.98% Due: 11/15/2028
101.035 4.28%858,798.83 1,293.42 860,092.25 0.00
Purchase 01/31/2024 161571HV9 1,690,000.00 Chase Issuance Trust 2024-A1 A
4.6% Due: 01/16/2029
99.985 4.66%1,689,742.61 0.00 1,689,742.61 0.00
Subtotal 3,490,000.00 3,498,615.66 2,317.31 3,500,932.97 0.00
TOTAL ACQUISITIONS 3,490,000.00 3,498,615.66 2,317.31 3,500,932.97 0.00
DISPOSITIONS
Sale 01/29/2024 912828X70 1,700,000.00 US Treasury Note
2% Due: 04/30/2024
99.172 1.92%1,685,921.88 8,406.59 1,694,328.47 -14,386.16
Subtotal 1,700,000.00 1,685,921.88 8,406.59 1,694,328.47 -14,386.16
TOTAL DISPOSITIONS 1,700,000.00 1,685,921.88 8,406.59 1,694,328.47 -14,386.16
December 31, 2023 through January 31, 2024
As of January 31, 2024
28
369
CC 02-21-2024
369 of 456
Important Disclosures
2024 Chandler Asset Management,Inc, An Independent Registered Investment Adviser.
Information contained herein is confidential.Prices are provided by ICE Data Services Inc (“IDS”),an independent pricing source.In the event IDS does not provide a price or if the price provided is not
reflective of fair market value, Chandler will obtain pricing from an alternative approved third party pricing source in accordance with our written valuation policy and procedures.Our valuation
procedures are also disclosed in Item 5 of our Form ADV Part 2A.
Performance results are presented gross-of-advisory fees and represent the client’s Total Return.The deduction of advisory fees lowers performance results.These results include the reinvestment of
dividends and other earnings.Past performance may not be indicative of future results.Therefore,clients should not assume that future performance of any specific investment or investment strategy
will be profitable or equal to past performance levels.All investment strategies have the potential for profit or loss.Economic factors,market conditions or changes in investment strategies,
contributions or withdrawals may materially alter the performance and results of your portfolio.
Index returns assume reinvestment of all distributions.Historical performance results for investment indexes generally do not reflect the deduction of transaction and/or custodial charges or the
deduction of an investment management fee,the incurrence of which would have the effect of decreasing historical performance results.It is not possible to invest directly in an index.
Source ICE Data Indices,LLC ("ICE"),used with permission. ICE permits use of the ICE indices and related data on an "as is"basis; ICE,its affiliates and their respective third party suppliers disclaim any and
all warranties and representations, express and/or implied,including any warranties of merchantability or fitness for a particular purpose or use,including the indices,index data and any data included
in,related to,or derived therefrom.Neither ICE data,its affiliates or their respective third party providers guarantee the quality,adequacy,accuracy,timeliness or completeness of the indices or the
index data or any component thereof,and the indices and index data and all components thereof are provided on an "as is"basis and licensee's use it at licensee's own risk. ICE data,its affiliates and their
respective third party do not sponsor,endorse,or recommend chandler asset management,or any of its products or services.
This report is provided for informational purposes only and should not be construed as a specific investment or legal advice.The information contained herein was obtained from sources believed to be
reliable as of the date of publication,but may become outdated or superseded at any time without notice.Any opinions or views expressed are based on current market conditions and are subject to
change.This report may contain forecasts and forward-looking statements which are inherently limited and should not be relied upon as indicator of future results.Past performance is not indicative of
future results.This report is not intended to constitute an offer,solicitation,recommendation or advice regarding any securities or investment strategy and should not be regarded by recipients as a
substitute for the exercise of their own judgment.
Fixed income investments are subject to interest, credit and market risk.Interest rate risk:the value of fixed income investments will decline as interest rates rise.Credit risk:the possibility that the
borrower may not be able to repay interest and principal.Low rated bonds generally have to pay higher interest rates to attract investors willing to take on greater risk.Market risk:the bond market in
general could decline due to economic conditions,especially during periods of rising interest rates.
Ratings information have been provided by Moody’s,S&P and Fitch through data feeds we believe to be reliable as of the date of this statement, however we cannot guarantee its accuracy.
Security level ratings for U.S.Agency issued mortgage-backed securities (“MBS”)reflect the issuer rating because the securities themselves are not rated.The issuing U.S.Agency guarantees the full and
timely payment of both principal and interest and carries a AA+/Aaa/AAA by S&P,Moody’s and Fitch respectively.
Your qualified custodian bank maintains control of all assets reflected in this statement and we urge you to compare this statement to the one you receive from your qualified custodian.Chandler does
not have any authority to withdraw or deposit funds from/to the custodian account.
As of January 31, 2024
29
370
CC 02-21-2024
370 of 456
Asset Class 10-Year Snapshot Disclosure As of January 31, 2024
US Small Cap Stocks – Morgan Stanley Capital International (MSCI) Small Cap 1750 –
The MSCI Small Cap 1750 is a market capitalization weighted index that measures the
performance of small capitalization U.S. stocks.
US Mid Cap Stocks – Morgan Stanley Capital International (MSCI) Mid Cap 450 –
The MSCI Mid Cap 450 is a market capitalization weighted index that measures the performance
of mid-capitalization U.S. stocks.
US Large Cap Stocks – Standard & Poor’s 500 – The S&P 500 is a market value weighted index of
500 large capitalization stocks. The 500 companies included in the index capture approximately
80% of available U.S. market capitalization.
International Stocks – Morgan Stanley Capital International (MSCI) EAFE – The MSCI EAFE
International Equity Index is a market capitalization weighted index that captures international
equity performance of large and mid-cap stocks in the developed stock markets of Europe,
Australasia, and the Far East.
Emerging Market Stocks – Morgan Stanley Capital International (MSCI) Emerging Markets – The
MSCI Emerging Markets Index is a market capitalization weighted index that captures equity
performance of large and mid-cap stocks across emerging market countries.
U.S. Real Estate – Morgan Stanley Capital International (MSCI) REIT – The MSCI US REIT Index is a
free float-adjusted market capitalization index that is comprised of equity REITs. It represents
about 99% of the US REIT universe and securities are classified in the REIT sector according to the
Global Industry Classification Standard (GICS®). It excludes Mortgage REITs and selected
Specialized REITs.
International Real Estate – S&P Developed Ex-US Property – The S&P Developed Ex-US Property
Index is a market capitalization weighted index that captures the performance of a universe of
publicly traded property companies based in developing countries outside of the US. The
companies included are engaged in real estate related activities, such as property ownership,
management, development, rental and investment.
US Core Bonds – ICE BofA US Corporate, Government, Mortgage – The ICE BofA US Corporate,
Government, Mortgage index is a broad measure of US investment grade bond performance,
including US Treasuries, agencies, investment-grade corporates and mortgage securities.
US High Yield Bonds – ICE BofA US High Yield – The ICE BofA High Yield Bond Index measures the
market of USD-denominated, non-investment grade, fixed-rate, taxable corporate bonds.
International Bonds – Bloomberg Barclays Global Aggregate ex-USD Total Return Index Value
Unhedged USD – Index from 2/1/2013 – current. This index measures the performance of global
investment grade debt from 24 local currency markets. This multi- currency benchmark includes
treasury, government-related, corporate and securitized fixed-rate bonds from both developed
and emerging markets issuers. S&P Citigroup International Govt Bond – Index from 1/1/2009 –
1/31/2013. This index measures the performance of sovereign bonds of non-U.S. developed
countries.
Diversified Commodities – S&P GSCI Commodity Index – The S&P GSCI Commodity Index is a
world production-weighted measure of general commodity price movements and inflation in
the world economy. It consists of a basket of physical commodity futures contracts.
Source ICE Data Indices, LLC ("ICE"), used with permission. ICE permits the use of ICE Indices and related data
on an “as is” basis; ICE, its affiliates and their respective third party suppliers disclaim any and all warranties
and representation, express and/or implied, including any warranties of merchantability or fitness for a
particular purpose or use, including the indices, index data and any data included in, related to, or derived
therefrom. Neither ICE data, its affiliates or their respective third-party providers guarantee the quality,
adequacy, accuracy, timeliness or completeness of the indices or the index data or any component thereof,
and the indices and index data and all components thereof are provided on an “as is” basis and licensee’s use
is at licensee’s own risk. ICE data, its affiliates and their respective third party do not sponsor, endorse, or
recommend Chandler, or any of its products or services.
Bloomberg® and Bloomberg Barclays Global Aggregate ex-USD Total Return Index Value Unhedged USD are
service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited
("BISL"), the administrator of the index (collectively, "Bloomberg") and have been licensed for use for certain
purposes by Chandler Asset Management Inc. Bloomberg is not affiliated with Chandler Asset Management
Inc., and Bloomberg does not approve, endorse, review, or recommend this product. Bloomberg does not
guarantee the timeliness, accurateness, or completeness of any data or information relating to this product.
Morgan Stanley Capital International® (MSCI), the MSCI indices are service marks of Morgan Stanley Capital
International and its affiliates, and have been licensed for use for certain purposes by Chandler Asset
Management Inc. MSCI is not affiliated with Chandler Asset Management Inc., and MSCI does not approve,
endorse, review, or recommend these products. MSCI does not guarantee the timeliness, accurateness, or
completeness of any data or information relating to these products.
Disclosure: This report is provided for informational purposes only and should not be construed as specific
investment or legal advice. The information contained herein was obtained from sources believed to be
reliable as of the date of publication, but may become outdated or superseded at any time without notice.
Past performance is not indicative of future results. This report is not intended to constitute an offer,
solicitation, recommendation or advice regarding any securities or investment strategy and should not be
regarded by recipients as a substitute for the exercise of their own judgement.
All investments contain risk and may lose value. Fixed income investments are subject to interest rate, credit,
and market risk. Interest rate risk: the value of fixed income investments will decline as interest rates rise.
Credit risk: the possibility that the borrower may not be able to repay interest and principal. Low rated bonds
generally have to pay higher interest rates to attract investors willing to take on greater risk. Market risk:
the bond market in general could decline due to economic conditions, especially during periods of rising
interest rates. International: Non-US markets may be more volatile due to a variety of factors including less
liquidity, transparency and oversight of companies and assets. Values of non-US investments may fluctuate
due to changes in currency exchange rates. Non-US companies are also subject to risks that come with
political and economic stability that may affect their respective countries. These risks may be greater in
emerging market countries. Equities: Investments on equities are subject to risks from stock market
fluctuations that occur in response to economic and business developments.
30
371
CC 02-21-2024
371 of 456
Benchmark Disclosures
ICE BofA 1-3 Yr US Treasury & Agency Index
The ICE BofA 1-3 Year US Treasury &Agency Index tracks the performance of US dollar denominated US Treasury and nonsubordinated US agency debt issued in the US domestic market.Qualifying
securities must have an investment grade rating (based on an average of Moody’s,S&P and Fitch).Qualifying securities must have at least one year remaining term to final maturity and less than three
years remaining term to final maturity,at least 18 months to maturity at time of issuance,a fixed coupon schedule,and a minimum amount outstanding of $1 billion for sovereigns and $250 million for
agencies.
As of January 31, 2024
31
372
CC 02-21-2024
372 of 456
CITY OF CUPERTINO
Agenda Item
23-12594 Agenda Date: 2/21/2024
Agenda #: 14.
Subject:Receive the Treasurer's Investment Report for the Quarter Ending December 31, 2023
Receive the Treasurer's Investment Report for the Quarter Ending December 31, 2023
CITY OF CUPERTINO Printed on 2/14/2024Page 1 of 1
powered by Legistar™373
CC 02-21-2024
373 of 456
CITY COUNCIL STAFF REPORT
Meeting: February 21, 2024
Subject
Receive the Treasurer's Investment Report for the Quarter Ending December 31, 2023
Recommended Action
Receive the Treasurer's Investment Report for the Quarter Ending December 31, 2023
Reasons for Recommendation
Background
On May 16, 2023, the City Council approved the City Investment Policy. Per the City's
Investment Policy, the Treasurer shall submit a quarterly investment report to the City
Council approximately 45 days following the end of the quarter. In addition to the
quarterly investment reports, monthly transaction reports are submitted to the City
Council within 30 days of the end of the reporting period per California Government Code
Section 53607. The quarterly investment report offers a more extensive discussion of the
City's economy, cash flow, and investments.
The City's Municipal Code Section 2.24.050 Investment Authority states that the Treasurer
shall make a monthly report of all investment transactions to the City Council. The City's
Municipal Code Section 2.48.020(A)(3) states that the Director of Administrative Services
also shall be appointed Treasurer and also shall act as ex officio Assessor and shall assess
and collect all City taxes save and except for those collected by State and County officers
for the City. Lastly, the City's Municipal Code Section 2.88.100 Duties–Powers–
Responsibilities lists one of the powers and functions of the Audit Committee is "to review
the quarterly Treasurer's Investment report."
Per the referenced code provisions, a Treasurer's Investment Report is made available to
the City Council quarterly.
374
CC 02-21-2024
374 of 456
2
Treasurer's Investment Report
The report provides an update on the City's investment portfolio for the month ending
December 31, 2023. The report is as of January 17, 2024. This report has yet to undergo
review by the Audit Committee due to the cancellation of its first meeting in the new year,
which is attributed to the absence of a quorum and changes in committee membership.
The report is being presented to the City Council first to comply with reporting
obligations and will subsequently be reviewed by the Audit Committee at its next
scheduled meeting.
The attached statements include balances and transactions of the City's investments with
the Local Agency Investment Fund (LAIF) and Chandler Asset Management. The
Chandler investment report provides information on the investment type, issuer,
purchase date, maturity date, cost value, par value, and market value for each security, as
well as the weighted average maturity and weighted average yield of all investments.
While not governed by the City's Investment Policy, statements for the Public Agency
Retirement Services (PARS) Section 115 Trusts are also attached per a request from the
Treasurer's Report sub-committee.
The City's General Ledger cash and investments balance was $239.4 million, a $4.1 million
increase from the prior quarter.
Cash and Investments – General Ledger Balance
Fund Type Quarter Ending
September 30, 2023
Quarter Ending
December 31, 2023
General Fund 131,872,784 141,743,483
Special Revenue 42,942,560 41,761,918
Debt Service 2,684,450 2,361,650
Capital Projects 37,978,199 36,434,860
Enterprise 11,167,451 10,277,394
Internal Service 8,615,981 6,784,421
Total $235,261,426 $239,363,725
375
CC 02-21-2024
375 of 456
3
The $239.4 million in cash and investments includes $48.5 million in cash, $21.7 million in
cash equivalents, $151.9 million in investments, and $17.2 million restricted for funding
pension costs.
The City pools cash for all funds except restricted funds. However, the City acc ounts for
interest earnings, revenues, and expenditures separately for each fund to adequately meet
the purpose and restrictions of each funding source. Pooling funds is a common and
appropriate practice used in public agencies. By pooling funds, the City can benefit from
economies of scale, diversification, liquidity, and ease of administration.
376
CC 02-21-2024
376 of 456
4
Cash and Investments – General Ledger Balance
Quarter Ending
September 30,
2023
Quarter Ending
December 31,
2023
% of
Portfolio
Cash in banks and on hand
Operating Checking (Wells Fargo) 44,563,856 48,488,626 20%
Workers' Compensation Checking (Wells Fargo) 43,934 26,746 0%
Payroll Checking (Wells Fargo) - - 0%
Restricted for Bond Repayments1 (BNY Mellon) - - 0%
Petty Cash and Change 3,586 3,586 0%
Cash Equivalents
Local Agency Investment Fund 21,553,792 21,748,511 9%
Investments
Investments (Chandler) 151,856,206 151,856,206 63%
Restricted for Pension2 (PARS) 17,240,051 17,240,051 7%
Total Cash and Investments3 $235,261,426 $239,363,725 100%
1 Cash held by fiscal agent for bond repayments
2 In accordance with GASB 67/68, the assets in the Section 115 Pension Trust are reported as restricted cash
and investments in the General Fund. The assets can only be used to fund CalPERS costs.
377
CC 02-21-2024
377 of 456
5
3 Assets in the Section 115 OPEB Trust are excluded as the City cannot use these assets to fund its own
operations. The assets are held in trust for retirees' post-employment health benefits.
The table below shows the bank balances for the City's cash and investments. Bank and
General Ledger balances differ due to timing. Bank balances do not include outstanding
checks and deposits in transit. The General Ledger is updated quarterly with interest
earnings and annually with the year-end investment market values.
Cash and Investments – Bank Balance
Quarter Ending
September 30,
2023
Quarter Ending
December 31,
2023
% of
Portfolio
Cash in banks and on hand
Operating Checking (Wells Fargo) 49,304,330 49,177,441 20%
Workers' Compensation Checking (Wells Fargo) 45,984 23,013 0%
Payroll Checking (Wells Fargo) - - 0%
Restricted for Bond Repayments1 (BNY Mellon) - - 0%
Cash Equivalents
Local Agency Investment Fund 21,593,220 21,787,939 9%
Investments
Investments (Chandler) 150,093,752 153,958,566 63%
Restricted for Pension2 (PARS) 18,500,105 20,389,010 8%
Total Cash and Investments3 $239,537,391 $245,335,970 100%
1 Cash held by fiscal agent for bond repayments
2 In accordance with GASB 67/68, the assets in the Section 115 Pension Trust are reported as restricted cash
and investments in the General Fund. The assets can only be used to fund CalPERS costs.
3 Assets in the Section 115 OPEB Trust are excluded as the City cannot use these assets to fund its own
operations. The assets are held in trust for retirees' post-employment health benefits.
Local Agency Investment Fund (LAIF)
LAIF is an investment pool administered by the State of California Treasurer and
governed by California Government Code. The City can withdraw funds from LAIF at
any time. As a result, the City uses LAIF for short-term investment, liquidity, and yield.
The City's LAIF account had a balance of $21.8 million. The quarterly interest rate was
4.00%. The City did not make any deposits or withdrawals in the quarter ending
December 2023.
Investment Portfolio
In FY 2018-19, the City conducted a Request for Proposal (RFP) for investment
management services and selected Chandler Asset Management. Under the City's
Treasurer's direction, Chandler Asset Management manages the City's investment
portfolio in accordance with the City's investment objectives. The City's investment
objectives, in order of priority, are to provide:
378
CC 02-21-2024
378 of 456
6
Safety to ensure the preservation of capital in the overall portfolio
Sufficient liquidity for cash needs
A market rate of return consistent with the investment program
The performance objective is to earn a total rate of return through a market cycle equal to
or above the return on the benchmark index. Chandler Asset Management invests in high-
quality fixed-income securities consistent with the City's Investment Policy and California
Government Code to achieve the objective.
The portfolio's market value was $154.0 million, compared to $150.1 million at the end of
the previous quarter. The table below includes historical comparisons of the City's
portfolio:
September
30, 2023
December
31, 2023
Market Value 150,093,752 153,958,566
Par Value 158,177,925 158,767,712
Book Value 157,776,718 158,476,712
Average Maturity 2.14 years 2.10 years
Average Modified Duration 1.83 1.86
Average Purchase Yield 2.03% 2.19%
Average Market Yield 5.36% 4.69%
Average Quality1 AA/Aa1 AA/Aa1
1 S&P and Moody's respectively
The portfolio's market value fluctuates depending on interest rates. When interest rates
decrease after an investment is purchased, the market value of the investment increases.
In contrast, when interest rates increase after an investment is purchased, the market value
of the investment decreases. At the time of purchase, the City intends to hold all
investments until maturity, meaning that changes in market value will not impact the
City's investment principal. If the market value decreases, the City will incur an
unrealized loss. However, the loss will only be realized if the City sells its investments
before their maturity. The market values for the portfolio were provided by Chandler
Asset Management.
Section 115 Trust Investment Portfolio
The City established Section 115 Trusts to reduce pension rate volatility and pre-fund
Other Post-Employment Benefits (OPEB) costs. These trusts are a tax-exempt investment
tool that local governments can use to set aside funds for pension and retiree health costs.
Contributions made to the trust can only be used to fund retirement plans.
379
CC 02-21-2024
379 of 456
7
Investments in the Section 115 Trusts are governed by separate investment policies, which
are distinct from the City's Investment Policy. On December 5, 2023, City Council
approved the Pension Trust Investment Policy and OPEB Trust Investment Policy. Public
Agency Retirement Services (PARS) administers the trust, while US Bank manages the
investments in accordance with the approved investment policies.
Both Section 115 Trusts are invested in "balanced" portfolios. The investment objective is
designed to provide a moderate amount of current income with moderate growth of
capital. This type of investment strategy is generally recommended for investors with a
long-term horizon. The strategic asset allocation ranges for this investment objective are:
Asset Class Range Target
Equities 50-70% 63%
Fixed Income 20-40% 29%
Real Estate 0-15% 5%
Commodities 0-10% 2%
Cash 0-10% 1%
The Section 115 Pension Trust had a balance of $20.4 million, an increase of $1.0 million
from the prior quarter due to investment gains. The Section 115 OPEB Trust had a balance
of $37.1 million, an increase of $1.9 million from the prior quarter due to investment gains.
The quarterly investment returns were 10.3% for both the Pension Trust and OPEB Trust.
Analysis
The City compares its portfolio to LAIF and one-year and two-year Treasury yields. Yield
comparisons for the one-year Treasury, two-year Treasury, LAIF, and City average are
presented below:
380
CC 02-21-2024
380 of 456
8
In June, one-year and two-year Treasury yields increased. The yield curve remained
inverted and the spread between the two-year and 10-year Treasury yield became more
inverted. The one-year and two-year Treasury yields were 4.79% and 4.23%, respectively.
The one-year Treasury yield decreased by 67 basis points, and the two-year Treasury yield
decreased by 80 basis points from September 30, 2023. The yield of the City's investment
portfolio was 4.69%, lower than the one-year Treasury yield but higher than the two-year
Treasury yield and LAIF.
Cash Flow History
Historical revenues, expenditures, and liquidity ratios are presented below:
381
CC 02-21-2024
381 of 456
9
382
CC 02-21-2024
382 of 456
10
As the City's portfolio becomes more or less liquid over time, the ratio of cash and cash
equivalents to revenues and expenditures will increase or decrease, respectively. The
portfolio's investment structure is complete, so the City anticipates the ratio of cash and
cash equivalents to revenues and expenditures to continue to flatten out moving forward.
While a formal liquidity level has not been established, significant and consistent
fluctuations in the ratio may indicate that additional funds should be invested or,
conversely, that investments should be liquidated. In recent years, sufficient liquidity
levels for operating revenues and expenditures have approximated a ratio of 1.0. In March
2022, the City transferred $15.0 million from the operating account to the investment
portfolio, which reduced the March 2022 liquidity ratios. Liquidity ratios have been higher
in FY 2023-24 due to increased cash and investment balances as the City anticipated an
adverse decision from a California Department of Tax and Fee Administration (CDTFA)
audit of a City taxpayer. On October 10, 2023, the City established a Sales Tax Repayment
Reserve with an initial allocation of $56.5 million to set aside the disputed sales tax
revenue.
As of December 31, 2023, the liquidity ratio was 3.9 and 2.4 for revenues and expenditures,
respectively. The City will monitor inflows and outflows during FY 2023-24 and bring
recommendations for the City's investment portfolio as necessary and applicable.
As of December 31, 2023, the City had $71.0 million in cash and cash equivalents in the
bank and on hand. Based on the cash flow forecast, the City maintains the ability to meet
its expenditure requirements for the next six months.
Cash Flow Forecast
Applying three-year historical trend data for each of the City's revenue and expenditure
line items to the FY 2023-24 Adopted Budget, the City estimated the following cash flow
forecast for FY 2023-24:
383
CC 02-21-2024
383 of 456
11
384
CC 02-21-2024
384 of 456
12
The purpose of this cash flow and liquidity forecast is to illustrate the timing of the City's
revenues and expenditures throughout a fiscal year using historical trend data. The first
quarter of the fiscal year experiences expenditures exceeding revenues since the City
begins receiving its property tax distributions in November and April of the respective
fiscal year. In January and April, the City receives additional property tax revenues due
to the Vehicle License Fee (VLF) swap. In June, the City tends to experience higher
activities, particularly expenditures, due to the year-end close and accrual process. From
one fiscal year to the next, the City typically incurs one-time special project or capital
expenditure costs. The timing of these costs is more difficult to pinpoint in a particular
month.
From a cash flow analysis perspective, the Adopted and Amended Budgets are efficient
planning tools for determining cash flow needs for a single fiscal year. If a budget is
adopted at a position in which revenues and expenditures are balanced, then it is
reasonable to conclude cash flow is unlikely to be of concern. Beyond one fiscal year, a
City prepares a long-term forward-looking forecast using historical and prospective
assumptions. This forecast model is incorporated and presented to the City Council as
part of the City's Adopted Budget.
Compliance
All of the City's investments comply with state law and the City's Investment Policy. In
compliance with California Government Code 53646 (b)(3), the City maintains the ability
to meet its expenditure requirements for the next six months.
385
CC 02-21-2024
385 of 456
13
Sustainability Impact
No sustainability impact.
Fiscal Impact
No fiscal impact.
California Environmental Quality Act
Not applicable.
_____________________________________
Prepared by: __________________
Thomas Leung
Budget Manager
Reviewed by: __________________
Kristina Alfaro
Director of Administrative Services and City Treasurer
Approved for Submission by: __________________
Matt Morley
Assistant City Manager
Attachments:
A – Chandler Investment Report December 2023
B – Chandler Custodial Statement December 2023
C – PARS Pension and OPEB Account Statement December 2023
D – LAIF Account Statement December 2023
386
CC 02-21-2024
386 of 456
CHANDLER ASSET MANAGEMENT, INC. | 800.317.4747 | www.chandlerasset.com
INVESTMENT REPORT
Period Ending December 31, 2023
City of Cupertino
387
CC 02-21-2024
387 of 456
SECTION 1 Economic Update
SECTION 2 Account Profile
SECTION 3 Portfolio Holdings
SECTION 4 Transactions
Table of Contents As of December 31, 2023
1
388
CC 02-21-2024
388 of 456
SECTION |Section 1 |Economic Update
2
389
CC 02-21-2024
389 of 456
Economic Update
Recent economic data has shown above trend growth fueled by a rise in consumer spending and a continuing healthy US job market.
Inflationary trends are subsiding, but core levels remain above the Fed’s target.Given the cumulative effects of restrictive monetary policy
and tighter financial conditions, we believe the economy will gradually soften and the Fed will loosen monetary policy in 2024.
As expected at the December meeting,the Federal Open Market Committee voted unanimously to leave the Federal Funds rate unchanged
at a target range of 5.25 -5.50%.Fed Chair Powell signaled that the federal funds rate is likely at or near its peak. The new Summary of
Economic Projections reflected Core PCE inflation reaching the target 2%level in 2026 without a significant increase in unemployment.We
believe the FOMC will loosen monetary policy in mid-2024 as inflation and economic growth continue to moderate.
US Treasury rates fell steeply across the yield curve in December on decelerating inflation readings and a more dovish Federal Reserve
outlook.The 2-year Treasury yield declined 43 basis points to 4.25%,the 5-year Treasury yield dropped 42 basis points to 3.85%,and the 10-
year Treasury yield decreased 45 basis points to 3.88%.The inversion between the 2-year Treasury yield and 10-year Treasury yield
widened to -37 basis points at December month-end versus -35 basis points at November month-end. The spread between the 2-year
Treasury and 10-year Treasury yield one year ago was -55 basis points. The inversion between 3-month and 10-year Treasuries widened to -
146 basis points in December from -107 basis points in November. Interest rates peaked in 2023 followed by the Fed’s dovish pivot late in
the year,resulting in a decline in yields across the curve and signaling less restrictive monetary policy in 2024.The shape of the yield
curve indicates that the probability of recession persists.
3
390
CC 02-21-2024
390 of 456
Employment
-400
-200
0
200
400
600
800
1,000
MO
M
C
h
a
n
g
e
I
n
T
h
o
u
s
a
n
d
s
(
0
0
0
'
s
)
Nonfarm Payroll (000's)
Non-farm Payroll (000's)
3-month average (000's)
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
Unemployment Rate
Underemployment Rate (U6)
Unemployment Rate (U3)
Ra
t
e
(
%
)
The U.S.economy added 216,000 jobs in December, exceeding consensus expectations of 175,000,and the last two months were revised
down by 71,000 jobs.Leading sectors included government,leisure,hospitality,and healthcare.The trajectory of job creation is gradually
moderating,with the three-month moving average payrolls at 165,000 and the six-month moving average at 193,000.The unemployment
rate remained unchanged at 3.7%,and the labor participation rate decreased to 62.5%from 62.8%,falling well below the pre-pandemic
level of 63.3%.The U-6 underemployment rate,which includes those who are marginally attached to the labor force and employed part
time for economic reasons rose to 7.1%from 7.0%last month.Average hourly earnings rose 4.1%year-over-year in December,increasing
from a 4.0%gain last month.Employment remains strong by historical standards, but data are trending toward a less robust labor market
outlook.
Source: US Department of Labor Source: US Department of Labor
4
391
CC 02-21-2024
391 of 456
Inflation
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
9.0%
10.0%
Consumer Price Index (CPI)
CPI YOY % Change
Core CPI YOY % Change
YO
Y
(
%
)
C
h
a
n
g
e
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
9.0%
10.0%
Personal Consumption Expenditures (PCE)
PCE Price Deflator YOY % Change
PCE Core Deflator YOY % Change
Fed Target
YO
Y
(
%
)
C
h
a
n
g
e
The Consumer Price Index (CPI)increased 0.1%month-over-month and 3.1%year-over-year in November,edging down from 3.2%year-
over-year in October.The Core CPI,which excludes volatile food and energy components,was up 0.3%month-over-month and 4.0%year-
over-year,unchanged from October as expected.Shelter was the largest contributor to November's Core CPI monthly advance, accounting
for 70%of the increase.The Personal Consumption Expenditures (PCE)Index eased more than expected in November,as headline
inflation fell 0.1%month-over-month and rose 2.6%year-over-year,down from a 2.9%increase in October. Core PCE,the Federal
Reserve’s preferred inflation gauge,increased 0.1%month-over-month and decelerated to 3.2%year-over-year in November from a 3.4%
year-over-year increase in October. The trend is moderating, but inflation remains above the Fed's 2% target.
Source: US Department of Labor Source: US Department of Commerce
5
392
CC 02-21-2024
392 of 456
Federal Reserve
Source: Federal Reserve Source: Bloomberg
0
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
9,000,000
10,000,000
Federal Reserve Balance Sheet Assets
Recession
In
$
m
i
l
l
i
o
n
s
As expected at the December meeting, the Federal Open Market Committee voted unanimously to leave the federal funds rate unchanged
at a target range of 5.25-5.50%. The Fed acknowledged inflation eased over the past year while remaining elevated. Fed Chair Powell
signaled that the federal funds rate is likely at or near its peak. The Summary of Economic Projections reflected Core PCE inflation
reaching the target 2% level in 2026 without a significant increase in unemployment. The median forecast for the federal funds rate
declined to 4.6%, implying three quarter-point cuts next year, four in 2025 and three in 2026, placing the federal funds target rate around
2.9% at the end of the forecast horizon. The market interpreted the statement as dovish, with futures contracts pricing in rate cuts sooner
and more aggressively than the Fed’s forecasts next year. We believe the FOMC will loosen monetary policy in mid-2024 as inflation and
economic growth continue to moderate. Since the Fed began its Quantitative Tightening campaign in June 2022, securities holdings have
declined by over $1.2T to approximately $7.8T.
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
Effective Federal Funds Rate
Recession
Yi
e
l
d
(
%
)
6
393
CC 02-21-2024
393 of 456
Bond Yields
Source: Bloomberg Source: Bloomberg
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
US Treasury Note Yields
2-Year
5-Year
10-Year
Y
i
e
l
d
(
%
)
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
US Treasury Yield Curve
Dec-23
Sep-23
Dec-22
Yi
e
l
d
(
%
)
At the end of December,the 2-year Treasury yield was 18 basis points lower,and the 10-Year Treasury yield was flat,year-over-year.The
inversion between the 2-year Treasury yield and 10-year Treasury yield widened to -37 basis points at December month-end versus -35
basis points at November month-end. The average historical spread (since 2003)is about +130 basis points. The inversion between 3-
month and 10-year Treasuries widened to -146 basis points in December from -107 basis points in November.The shape of the yield
curve indicates that the probability of recession persists.
7
394
CC 02-21-2024
394 of 456
Periodic Table of Asset Class Returns As of December 31, 2023
Index returns as of 12/31/2023. Past performance is not indicative of future results. Index returns assume reinvestment of all distributions and do not reflect fees or expenses. It is not possible to invest directly in an
index. This information is not intended to constitute an offer, solicitation, recommendation, or advice regarding securities or investment strategy. Please see attached Asset Class Disclosure.
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 YTD 2023
US Small Cap
Stocks
39.1%
US Real Estate
30.4%
US Real Estate
2.5%
US Small Cap
Stocks
20.4%
Emerging Market
Stocks
37.3%
International
Bonds
3.2%
US Large Cap
Stocks
31.5%
US Mid Cap
Stocks
19.8%
US Real Estate
43.1%
Diversified
Commodities
26.0%
US Large Cap
Stocks
26.3%
US Mid Cap
Stocks
36.3%
US Large Cap
Stocks
13.7%
US Large Cap
Stocks
1.4%
US High Yield
Bonds
17.5%
International
Stocks
25.0%
US Core Bonds
0.0%
US Mid Cap
Stocks
30.6%
US Small Cap
Stocks
19.2%
Diversified
Commodities
40.4%
US High Yield
Bonds
-11.2%
US Small Cap
Stocks
19.1%
US Large Cap
Stocks
32.4%
US Mid Cap
Stocks
13.4%
International
Bonds
1.3%
US Mid Cap
Stocks
12.6%
US Large Cap
Stocks
21.8%
US High Yield
Bonds
-2.3%
US Small Cap
Stocks
25.9%
US Large Cap
Stocks
18.4%
US Large Cap
Stocks
28.7%
International
Bonds
-12.7%
International
Stocks
18.2%
International
Stocks
22.8%
International
Bonds
9.1%
US Core Bonds
0.6%
US Large Cap
Stocks
12.0%
US Mid Cap
Stocks
20.3%
US Large Cap
Stocks
-4.4%
US Real Estate
25.8%
Emerging Market
Stocks
18.3%
US Mid Cap
Stocks
24.0%
US Core Bonds
-13.3%
US Mid Cap
Stocks
14.5%
US High Yield
Bonds
7.4%
US Core Bonds
6.4%
US Mid Cap
Stocks
-0.6%
Diversified
Commodities
11.4%
International
Real Estate
20.0%
US Real Estate
-4.6%
International
Stocks
22.0%
International
Stocks
7.8%
US Small Cap
Stocks
21.1%
International
Stocks
-14.5%
US Real Estate
13.7%
International
Real Estate
5.8%
US Small Cap
Stocks
6.1%
International
Stocks
-0.8%
Emerging Market
Stocks
11.2%
US Small Cap
Stocks
15.2%
International
Real Estate
-6.4%
International
Real Estate
21.0%
US Core Bonds
7.6%
International
Stocks
11.3%
US Mid Cap
Stocks
-16.9%
US High Yield
Bonds
13.5%
US Real Estate
2.5%
International
Real Estate
2.8%
International
Real Estate
-3.8%
US Real Estate
8.6%
US High Yield
Bonds
7.5%
US Mid Cap
Stocks
-8.1%
Emerging Market
Stocks
18.4%
US High Yield
Bonds
6.2%
International
Real Estate
8.1%
US Small Cap
Stocks
-17.8%
Emerging Market
Stocks
9.8%
International
Bonds
1.8%
US High Yield
Bonds
2.5%
US Small Cap
Stocks
-4.1%
International
Bonds
4.9%
Diversified
Commodities
5.8%
US Small Cap
Stocks
-11.0%
Diversified
Commodities
17.6%
International
Bonds
4.7%
US High Yield
Bonds
5.4%
US Large Cap
Stocks
-18.1%
International
Bonds
8.7%
Diversified
Commodities
-1.2%
Emerging Market
Stocks
-2.2%
High Yield Bonds
-4.6%
US Core Bonds
2.6%
US Real Estate
5.1%
International
Stocks
-13.8%
US High Yield
Bonds
14.4%
International
Real Estate
-7.1%
US Core Bonds
-1.6%
Emerging Market
Stocks
-20.1%
International
Real Estate
6.3%
US Core Bonds
-2.3%
International
Stocks
-4.9%
Emerging Market
Stocks
-14.9%
International
Real Estate
1.3%
US Core Bonds
3.6%
Diversified
Commodities
-13.8%
US Core Bonds
9.0%
US Real Estate
-7.6%
International
Bonds
-2.1%
International
Real Estate
-24.3%
US Core Bonds
5.4%
Emerging Market
Stocks
-2.6%
Diversified
Commodities
-33.1%
Diversified
Commodities
-32.9%
International
Stocks
1.0%
International
Bonds
2.6%
Emerging Market
Stocks
-14.6%
International
Bonds
8.1%
Diversified
Commodities
-23.7%
Emerging Market
Stocks
-2.5%
US Real Estate
-24.5%
Diversified
Commodities
-4.3%
8
395
CC 02-21-2024
395 of 456
Section 2|SECTION |Section 2 |Account Profile
9
396
CC 02-21-2024
396 of 456
Objectives
Chandler Asset Management Performance Objective
The performance objective for the portfolio is to earn a total rate of return through a market cycle that is
equal to or above the return on the benchmark index.
Investment Objectives
The City of Cupertino’s investment objectives, in order of priority, are to provide safety to ensure the
preservation of capital in the overall portfolio, provide sufficient liquidity for cash needs and a market rate
of return consistent with the investment program.
Strategy
In order to achieve these objectives, the portfolio invests in high quality fixed incomes securities
consistent with the investment policy and California Government Code.
As of December 31, 2023
10
397
CC 02-21-2024
397 of 456
Portfolio Summary –City of Cupertino #10659 As of December 31, 2023
11
398
CC 02-21-2024
398 of 456
Purchase Yield as of 12/31/23 = 2.19%
0.00
0.50
1.00
1.50
2.00
2.50
Pe
r
c
e
n
t
(
%
)
Historical Average Purchase Yield
City of Cupertino
As of December 31, 2023
12
399
CC 02-21-2024
399 of 456
SECTION |Section 3 |Portfolio Holdings
13
400
CC 02-21-2024
400 of 456
Issue Name Investment Type % Portfolio
Government of United States US Treasury 36.84%
Federal National Mortgage Association Agency 8.76%
Federal Home Loan Mortgage Corp Agency 3.77%
Federal Home Loan Mortgage Corp CMO 3.73%
Federal Home Loan Bank Agency 2.26%
Federal Farm Credit Bank Agency 1.87%
American Express ABS ABS 1.85%
Royal Bank of Canada Corporate 1.64%
Toyota Motor Corp Corporate 1.60%
John Deere ABS ABS 1.57%
JP Morgan Chase & Co Corporate 1.54%
Bank of America Corp Corporate 1.53%
International Finance Corp Supranational 1.53%
Bank of New York Corporate 1.52%
Inter-American Dev Bank Supranational 1.48%
Intl Bank Recon and Development Supranational 1.45%
Toronto Dominion Holdings Corporate 1.40%
Hyundai Auto Receivables ABS 1.30%
Northwestern Mutual Glbl Corporate 1.28%
Paccar Financial Corporate 1.23%
Honda ABS ABS 1.23%
Toyota ABS ABS 1.16%
Bank of Montreal Chicago Corporate 1.16%
Amazon.com Inc Corporate 1.13%
Metlife Inc Corporate 1.12%
Salesforce.com Inc Corporate 1.12%
Prudential Financial Inc Corporate 1.10%
Air Products & Chemicals Corporate 1.09%
Morgan Stanley Corporate 1.08%
New York Life Global Funding Corporate 1.06%
United Health Group Inc Corporate 1.05%
Berkshire Hathaway Corporate 1.00%
Guardian Life Global Funding Corporate 0.84%
US Bancorp Corporate 0.81%
Mercedes-Benz ABS 0.74%
Caterpillar Inc Corporate 0.70%
MasterCard Inc Corporate 0.64%
Mass Mutual Insurance Corporate 0.60%
Issuers
City of Cupertino –Account #10659
As of December 31, 2023
14
401
CC 02-21-2024
401 of 456
Issue Name Investment Type % Portfolio
Charles Schwab Corp/The Corporate 0.59%
GM Financial Securitized Term Auto Trust ABS 0.56%
State of California Municipal Bonds 0.48%
Toyota Lease Owner Trust ABS 0.45%
Northern Trust Corp Corporate 0.43%
Verizon Master Trust ABS 0.37%
BMW ABS ABS 0.33%
GM Financial Automobile Leasing Trust ABS 0.30%
Wells Fargo 100% Treasury MMKT Fund Money Market Fund 0.27%
Wal-Mart Stores Corporate 0.21%
Hyundai Auto Lease Securitization ABS 0.15%
BMW Vehicle Lease Trust ABS 0.08%
TOTAL 100.00%
Issuers
City of Cupertino –Account #10659
As of December 31, 2023
15
402
CC 02-21-2024
402 of 456
Holdings Report
City of Cupertino -Account #10659
CUSIP Security Description Par Value/Units Purchase Date
Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
ABS
43813KAC6 Honda Auto Receivables Trust 2020-3 A3
0.370% Due 10/18/2024
11,635.70 09/22/2020
0.38%
11,633.99
11,635.70
99.73
7.04%
11,603.98
1.55
0.01%
(31.72)
NR / AAA
AAA
0.80
0.04
44891WAC3 Hyundai Auto Lease Trust 2022-A A3
1.160% Due 01/15/2025
225,391.76 01/11/2022
1.16%
225,386.79
225,391.12
99.35
5.93%
223,929.19
116.20
0.15%
(1,461.93)
Aaa / AAA
NR
1.04
0.13
89238LAC4 Toyota Lease Owner Trust 2022-A A3
1.960% Due 02/20/2025
697,356.13 02/23/2022
1.98%
697,246.36
697,333.86
99.26
5.68%
692,178.96
417.64
0.45%
(5,154.90)
NR / AAA
AAA
1.14
0.20
36265MAC9 GM Financial Auto Lease Trust 2022-1 A3
1.900% Due 03/20/2025
468,695.25 02/15/2022
1.91%
468,691.21
468,694.69
99.37
5.69%
465,733.10
272.10
0.30%
(2,961.59)
Aaa / NR
AAA
1.22
0.17
05601XAC3 BMW Vehicle Lease Trust 2022-1 A3
1.100% Due 03/25/2025
117,001.40 01/11/2022
1.11%
116,983.91
116,999.55
99.43
6.24%
116,337.42
21.45
0.08%
(662.13)
NR / AAA
AAA
1.23
0.11
43813GAC5 Honda Auto Receivables Trust 2021-1 A3
0.270% Due 04/21/2025
49,061.52 02/17/2021
0.27%
49,060.62
49,061.46
98.79
6.20%
48,465.82
3.68
0.03%
(595.64)
Aaa / NR
AAA
1.31
0.20
89240BAC2 Toyota Auto Receivables Owners 2021-A A3
0.260% Due 05/15/2025
187,097.99 02/02/2021
0.27%
187,063.27
187,095.72
98.89
6.00%
185,027.00
21.62
0.12%
(2,068.72)
Aaa / NR
AAA
1.37
0.19
44933LAC7 Hyundai Auto Receivables Trust 2021-A A3
0.380% Due 09/15/2025
148,939.13 04/20/2021
0.38%
148,923.46
148,937.23
98.59
5.75%
146,831.79
25.15
0.10%
(2,105.44)
NR / AAA
AAA
1.71
0.26
43815GAC3 Honda Auto Receivables Trust 2021-4 A3
0.880% Due 01/21/2026
320,414.02 11/16/2021
0.89%
320,346.47
320,390.25
97.04
5.75%
310,915.03
78.32
0.20%
(9,475.22)
Aaa / NR
AAA
2.06
0.61
47789QAC4 John Deere Owner Trust 2021-B A3
0.520% Due 03/16/2026
353,397.32 07/13/2021
0.52%
353,365.80
353,386.94
97.29
5.63%
343,826.26
81.67
0.22%
(9,560.68)
Aaa / NR
AAA
2.21
0.53
89238JAC9 Toyota Auto Receivables Trust 2021-D A3
0.710% Due 04/15/2026
304,187.35 11/09/2021
0.71%
304,180.86
304,185.10
97.03
5.67%
295,156.03
95.99
0.19%
(9,029.07)
NR / AAA
AAA
2.29
0.60
43815BAC4 Honda Auto Receivables Trust 2022-1 A3
1.880% Due 05/15/2026
722,168.70 02/15/2022
1.89%
722,060.08
722,122.56
97.33
5.61%
702,901.95
603.41
0.46%
(19,220.61)
Aaa / AAA
NR
2.37
0.71
44935FAD6 Hyundai Auto Receivables Trust 2021-C A3
0.740% Due 05/15/2026
918,383.73 Various
2.03%
895,162.89
909,818.85
97.28
5.70%
893,447.76
302.04
0.58%
(16,371.09)
NR / AAA
AAA
2.37
0.55
05602RAD3 BMW Vehicle Owner Trust 2022-A A3
3.210% Due 08/25/2026
517,431.97 05/10/2022
3.23%
517,405.06
517,419.13
98.59
5.24%
510,127.90
276.83
0.33%
(7,291.23)
Aaa / AAA
NR
2.65
0.70
362554AC1 GM Financial Securitized Term 2021-4 A3
0.680% Due 09/16/2026
252,152.27 10/13/2021
0.68%
252,145.84
252,149.99
96.65
5.81%
243,699.62
71.44
0.16%
(8,450.37)
Aaa / AAA
NR
2.71
0.65
47787JAC2 John Deere Owner Trust 2022-A A3
2.320% Due 09/16/2026
380,268.74 03/10/2022
2.34%
380,184.62
380,227.77
97.77
5.39%
371,775.06
392.10
0.24%
(8,452.71)
Aaa / NR
AAA
2.71
0.73
448977AD0 Hyundai Auto Receivables Trust 2022-A A3
2.220% Due 10/15/2026
980,803.64 03/09/2022
2.23%
980,765.88
980,786.75
97.72
5.40%
958,485.45
967.73
0.62%
(22,301.30)
NR / AAA
AAA
2.79
0.72
As of December 31, 2023
16
403
CC 02-21-2024
403 of 456
Holdings Report
City of Cupertino -Account #10659
CUSIP Security Description Par Value/Units Purchase Date
Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
380146AC4 GM Financial Auto Receivables 2022-1 A3
1.260% Due 11/16/2026
246,016.07 01/11/2022
1.27%
245,994.68
246,007.24
97.07
5.49%
238,810.02
129.16
0.16%
(7,197.22)
NR / AAA
AAA
2.88
0.69
362585AC5 GM Financial Securitized ART 2022-2 A3
3.100% Due 02/16/2027
390,000.00 04/05/2022
3.13%
389,918.49
389,959.38
98.06
5.34%
382,426.59
503.75
0.25%
(7,532.79)
Aaa / AAA
NR
3.13
0.88
47800AAC4 John Deere Owner Trust 2022-B A3
3.740% Due 02/16/2027
655,000.00 07/12/2022
3.77%
654,937.45
654,962.83
98.38
5.27%
644,405.37
1,088.76
0.42%
(10,557.46)
Aaa / NR
AAA
3.13
1.08
02589BAA8 American Express Credit Accoun 22-1 A
2.210% Due 03/15/2027
1,545,000.00 03/21/2022
2.69%
1,524,359.77
1,536,671.82
96.73
5.07%
1,494,517.13
1,517.53
0.97%
(42,154.69)
Aaa / NR
AAA
3.21
1.15
02582JJT8 American Express Credit Trust 2022-2 A
3.390% Due 05/17/2027
1,375,000.00 05/17/2022
3.42%
1,374,695.85
1,374,860.10
97.95
4.99%
1,346,866.13
2,071.67
0.88%
(27,993.97)
NR / AAA
AAA
3.38
1.30
47800BAC2 John Deere Owner Trust 2022-C A3
5.090% Due 06/15/2027
1,050,000.00 10/12/2022
5.15%
1,049,918.52
1,049,945.31
99.99
5.15%
1,049,918.10
2,375.33
0.68%
(27.21)
Aaa / NR
AAA
3.46
1.30
92348KAV5 Verizon Master Trust 2022-5 A1A
3.720% Due 07/20/2027
570,000.00 08/02/2022
3.75%
569,974.92
569,987.50
99.90
4.58%
569,443.11
647.90
0.37%
(544.39)
NR / AAA
AAA
3.55
0.62
89231FAD2 Toyota Auto Recievables Owner 2023-C A3
5.160% Due 04/17/2028
1,300,000.00 11/21/2023
5.65%
1,294,718.75
1,295,139.48
100.71
4.87%
1,309,189.70
2,981.33
0.85%
14,050.22
NR / AAA
AAA
4.30
2.01
438123AC5 Honda Auto Receivables OT 2023-4 A3
5.670% Due 06/21/2028
805,000.00 Various
5.63%
806,992.67
806,911.22
102.09
3.84%
821,820.48
1,267.88
0.53%
14,909.26
Aaa / NR
AAA
4.48
1.09
58769FAC9 Mercedes-Benz Auto Receivables 2023-2 A3
5.950% Due 11/15/2028
1,100,000.00 11/29/2023
3.88%
1,123,289.06
1,121,979.63
102.82
4.68%
1,131,072.80
2,908.89
0.74%
9,093.17
NR / AAA
AAA
4.88
2.08
TOTAL ABS 15,690,402.69 3.07%
15,665,407.27
15,692,061.18 5.19%
15,508,911.75
19,241.12
10.09%
(183,149.43)
Aaa / AAA
AAA
3.07
1.01
Agency
3130A1XJ2 FHLB Note
2.875% Due 06/14/2024
1,500,000.00 06/18/2019
1.96%
1,564,890.20
1,505,876.44
98.93
5.29%
1,483,933.51
2,036.46
0.97%
(21,942.93)
Aaa / AA+
NR
0.45
0.44
3135G0V75 FNMA Note
1.750% Due 07/02/2024
1,500,000.00 07/16/2019
1.96%
1,484,895.00
1,498,474.50
98.33
5.15%
1,474,981.50
13,052.08
0.97%
(23,493.00)
Aaa / AA+
AA+
0.50
0.49
3130A2UW4 FHLB Note
2.875% Due 09/13/2024
2,000,000.00 09/13/2019
1.79%
2,103,380.00
2,014,509.47
98.60
4.93%
1,971,924.00
17,250.00
1.29%
(42,585.47)
Aaa / AA+
NR
0.70
0.68
3135G0W66 FNMA Note
1.625% Due 10/15/2024
1,975,000.00 Various
1.73%
1,965,802.75
1,973,508.43
97.45
4.96%
1,924,677.00
6,775.35
1.25%
(48,831.43)
Aaa / AA+
AA+
0.79
0.77
3135G0X24 FNMA Note
1.625% Due 01/07/2025
1,295,000.00 Various
1.38%
1,309,953.95
1,298,162.80
96.90
4.78%
1,254,867.95
10,171.14
0.82%
(43,294.85)
Aaa / AA+
AA+
1.02
0.98
3137EAEP0 FHLMC Note
1.500% Due 02/12/2025
2,365,000.00 02/13/2020
1.52%
2,363,178.95
2,364,592.88
96.54
4.72%
2,283,192.28
13,697.29
1.49%
(81,400.60)
Aaa / AA+
AA+
1.12
1.08
As of December 31, 2023
17
404
CC 02-21-2024
404 of 456
Holdings Report
City of Cupertino -Account #10659
CUSIP Security Description Par Value/Units Purchase Date
Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
3135G03U5 FNMA Note
0.625% Due 04/22/2025
1,860,000.00 04/22/2020
0.67%
1,856,168.40
1,858,997.99
95.08
4.54%
1,768,450.80
2,228.13
1.15%
(90,547.19)
Aaa / AA+
AA+
1.31
1.27
3135G04Z3 FNMA Note
0.500% Due 06/17/2025
2,500,000.00 Various
0.50%
2,499,227.30
2,499,835.89
94.36
4.53%
2,359,087.50
486.11
1.53%
(140,748.39)
Aaa / AA+
AA+
1.46
1.42
3137EAEU9 FHLMC Note
0.375% Due 07/21/2025
1,250,000.00 07/21/2020
0.48%
1,243,775.00
1,248,064.93
93.97
4.43%
1,174,660.00
2,083.33
0.76%
(73,404.93)
Aaa / AA+
AA+
1.56
1.52
3135G05X7 FNMA Note
0.375% Due 08/25/2025
2,500,000.00 Various
0.48%
2,487,983.75
2,495,919.81
93.49
4.51%
2,337,292.50
3,281.25
1.52%
(158,627.31)
Aaa / AA+
AA+
1.65
1.61
3137EAEX3 FHLMC Note
0.375% Due 09/23/2025
2,500,000.00 Various
0.46%
2,489,362.80
2,496,243.14
93.33
4.43%
2,333,320.00
2,552.08
1.52%
(162,923.14)
Aaa / AA+
AA+
1.73
1.68
3135G06G3 FNMA Note
0.500% Due 11/07/2025
2,500,000.00 Various
0.56%
2,492,700.00
2,497,289.27
93.15
4.40%
2,328,627.50
1,875.00
1.51%
(168,661.77)
Aaa / AA+
AA+
1.85
1.80
3133EPC60 FFCB Note
4.625% Due 11/15/2027
2,800,000.00 11/09/2023
4.73%
2,789,612.00
2,789,946.18
102.24
3.99%
2,862,776.00
16,547.22
1.87%
72,829.82
Aaa / AA+
AA+
3.88
3.50
TOTAL Agency 26,545,000.00 1.44%
26,650,930.10
26,541,421.73 4.62%
25,557,790.54
92,035.44
16.66%
(983,631.19)
Aaa / AA+
AA+
1.53
1.45
CMO
3137BFE98 FHLMC K041 A2
3.171% Due 10/25/2024
1,286,114.81 07/01/2021
0.72%
1,383,477.73
1,308,684.56
98.31
5.31%
1,264,339.60
3,398.56
0.82%
(44,344.96)
Aaa / AAA
AAA
0.82
0.70
3137BLMZ8 FHLMC K049 A2
3.010% Due 07/25/2025
1,000,000.00 07/01/2021
0.87%
1,079,687.50
1,029,958.12
97.24
4.90%
972,417.33
2,508.33
0.63%
(57,540.79)
NR / NR
AAA
1.57
1.38
3137BLW95 FHLMC K050 A2
3.334% Due 08/25/2025
950,000.00 11/16/2021
1.17%
1,018,132.81
979,149.34
97.76
4.78%
928,717.22
2,639.42
0.60%
(50,432.12)
NR / NR
AAA
1.65
1.43
3137BM7C4 FHLMC K051 A2
3.308% Due 09/25/2025
440,000.00 03/15/2022
2.21%
453,079.69
446,306.83
97.54
4.82%
429,182.60
1,212.93
0.28%
(17,124.23)
NR / NR
AAA
1.74
1.51
3137BN6G4 FHLMC KO53
2.995% Due 12/25/2025
570,000.00 03/15/2022
2.29%
582,001.17
576,305.40
96.85
4.74%
552,049.01
1,422.63
0.36%
(24,256.39)
NR / NR
AAA
1.99
1.73
3137BSP72 FHLMC K058 A2
2.653% Due 08/25/2026
650,000.00 11/12/2021
1.35%
687,451.17
670,556.72
95.42
4.49%
620,209.20
1,437.04
0.40%
(50,347.52)
NR / NR
AAA
2.65
2.46
3137FBBX3 FHLMC K068 A2
3.244% Due 08/25/2027
1,000,000.00 09/28/2022
4.41%
950,664.06
963,396.82
96.15
4.39%
961,467.00
2,703.33
0.63%
(1,929.82)
Aaa / NR
NR
3.65
3.31
TOTAL CMO 5,896,114.81 1.75%
6,154,494.13
5,974,357.79 4.82%
5,728,381.96
15,322.24
3.73%
(245,975.83)
Aaa / AAA
AAA
1.94
1.72
As of December 31, 2023
18
405
CC 02-21-2024
405 of 456
Holdings Report
City of Cupertino -Account #10659
CUSIP Security Description Par Value/Units Purchase Date
Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
Corporate
89114QCA4 Toronto Dominion Bank Note
2.650% Due 06/12/2024
1,500,000.00 09/11/2019
2.24%
1,527,255.00
1,502,562.03
98.75
5.51%
1,481,220.00
2,097.92
0.96%
(21,342.03)
A1 / A
AA-
0.45
0.44
06367TQW3 Bank of Montreal Note
0.625% Due 07/09/2024
600,000.00 02/09/2022
1.89%
582,216.00
596,155.90
97.56
5.44%
585,334.20
1,791.67
0.38%
(10,821.70)
A2 / A-
AA-
0.52
0.51
79466LAG9 Salesforce.com Inc Callable Note Cont 7/15/2022
0.625% Due 07/15/2024
1,760,000.00 Various
0.87%
1,748,937.40
1,757,735.47
97.48
5.43%
1,715,633.92
5,072.23
1.12%
(42,101.55)
A2 / A+
NR
0.54
0.52
78013XZU5 Royal Bank of Canada Note
2.550% Due 07/16/2024
1,500,000.00 Various
1.99%
1,533,359.18
1,504,373.40
98.47
5.45%
1,477,053.00
17,531.26
0.97%
(27,320.40)
A1 / A
AA-
0.54
0.52
91159HHX1 US Bancorp Callable Note Cont 6/28/2024
2.400% Due 07/30/2024
1,250,000.00 10/10/2019
2.07%
1,268,262.50
1,251,902.79
98.27
5.45%
1,228,391.25
12,583.33
0.81%
(23,511.54)
A3 / A
A
0.58
0.56
009158AV8 Air Products & Chemicals Callable Note Cont 4/30/2024
3.350% Due 07/31/2024
1,675,000.00 08/07/2019
2.07%
1,771,212.00
1,681,689.13
98.71
5.62%
1,653,395.85
23,536.08
1.09%
(28,293.28)
A2 / A
NR
0.58
0.56
69371RR40 Paccar Financial Corp Note
0.500% Due 08/09/2024
680,000.00 08/03/2021
0.52%
679,632.80
679,925.96
97.06
5.50%
660,018.20
1,341.11
0.43%
(19,907.76)
A1 / A+
NR
0.61
0.59
69371RQ25 Paccar Financial Corp Note
2.150% Due 08/15/2024
370,000.00 08/08/2019
2.20%
369,182.30
369,898.40
98.00
5.46%
362,599.63
3,005.22
0.24%
(7,298.77)
A1 / A+
NR
0.62
0.60
14913Q3B3 Caterpillar Finl Service Note
2.150% Due 11/08/2024
1,100,000.00 01/28/2020
1.92%
1,111,517.00
1,102,060.38
97.51
5.17%
1,072,601.20
3,481.81
0.70%
(29,459.18)
A2 / A
A+
0.86
0.83
74153WCQ0 Pricoa Global Funding Note
1.150% Due 12/06/2024
885,000.00 12/01/2021
1.19%
884,088.45
884,716.70
96.12
5.48%
850,667.31
706.77
0.55%
(34,049.39)
Aa3 / AA-
AA-
0.93
0.90
89114TZL9 Toronto-Dominion Bank Note
1.450% Due 01/10/2025
700,000.00 03/15/2022
2.79%
674,737.00
690,802.31
96.37
5.13%
674,577.40
4,821.25
0.44%
(16,224.91)
A1 / A
NR
1.03
0.99
89236TJT3 Toyota Motor Credit Corp Note
1.450% Due 01/13/2025
1,215,000.00 01/10/2022
1.50%
1,213,371.90
1,214,438.48
96.50
4.96%
1,172,515.10
8,221.50
0.77%
(41,923.38)
A1 / A+
A+
1.04
1.00
64952WEK5 New York Life Global Note
1.450% Due 01/14/2025
1,680,000.00 01/11/2022
1.49%
1,678,185.60
1,679,372.58
96.30
5.16%
1,617,905.52
11,300.33
1.06%
(61,467.06)
Aaa / AA+
AAA
1.04
1.00
69371RR73 Paccar Financial Corp Note
2.850% Due 04/07/2025
885,000.00 03/31/2022
2.86%
884,769.90
884,903.01
97.72
4.72%
864,823.77
5,885.25
0.57%
(20,079.24)
A1 / A+
NR
1.27
1.22
78016EZ59 Royal Bank of Canada Note
3.375% Due 04/14/2025
1,050,000.00 04/07/2022
3.39%
1,049,611.50
1,049,833.75
97.96
5.02%
1,028,629.35
7,579.69
0.67%
(21,204.40)
A1 / A
AA-
1.29
1.23
06406RBC0 Bank of NY Mellon Corp Callable Note Cont 3/25/2025
3.350% Due 04/25/2025
1,370,000.00 04/19/2022
3.35%
1,369,808.20
1,369,915.92
97.68
5.19%
1,338,181.75
8,414.08
0.87%
(31,734.17)
A1 / A
AA-
1.32
1.26
As of December 31, 2023
19
406
CC 02-21-2024
406 of 456
Holdings Report
City of Cupertino -Account #10659
CUSIP Security Description Par Value/Units Purchase Date
Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
06367WB85 Bank of Montreal Note
1.850% Due 05/01/2025
1,240,000.00 07/23/2021
0.85%
1,285,656.80
1,256,149.35
95.88
5.09%
1,188,856.20
3,823.33
0.77%
(67,293.15)
A2 / A-
AA-
1.33
1.29
46647PCH7 JP Morgan Chase & Co Callable Note Cont 6/1/2024
0.824% Due 06/01/2025
1,370,000.00 05/24/2021
0.78%
1,371,773.90
1,370,246.01
97.86
6.00%
1,340,665.56
940.73
0.87%
(29,580.45)
A1 / A-
AA-
1.42
1.28
46647PCK0 JP Morgan Chase & Co Callable Note Cont 6/23/2024
0.969% Due 06/23/2025
655,000.00 Various
0.95%
655,406.85
655,064.65
97.66
5.97%
639,684.14
141.05
0.42%
(15,380.51)
A1 / A-
AA-
1.48
0.47
66815L2J7 Northwestern Mutual Glbl Note
4.000% Due 07/01/2025
1,170,000.00 06/27/2022
4.01%
1,169,602.20
1,169,801.46
99.09
4.64%
1,159,310.88
23,400.00
0.77%
(10,490.58)
Aaa / AA+
AAA
1.50
1.41
74153WCM9 Pricoa Global Funding Note
0.800% Due 09/01/2025
904,000.00 04/06/2022
3.26%
832,972.72
869,172.61
93.35
5.01%
843,855.07
2,410.67
0.55%
(25,317.54)
Aa3 / AA-
AA-
1.67
1.61
06406HCQ0 Bank of New York Callable Note Cont 10/18/2025
3.950% Due 11/18/2025
1,000,000.00 04/05/2022
3.20%
1,024,910.00
1,012,667.41
98.24
4.93%
982,411.00
4,718.06
0.64%
(30,256.41)
A1 / A
AA-
1.88
1.78
40139LBC6 Guardian Life Glob Fun Note
0.875% Due 12/10/2025
1,400,000.00 Various
1.12%
1,385,860.00
1,393,435.82
92.52
4.96%
1,295,336.00
714.58
0.84%
(98,099.82)
Aa1 / AA+
NR
1.95
1.88
66815L2A6 Northwestern Mutual Glbl Note
0.800% Due 01/14/2026
850,000.00 12/06/2021
1.47%
827,449.50
838,800.02
92.46
4.73%
785,881.95
3,154.44
0.51%
(52,918.07)
Aaa / AA+
AAA
2.04
1.97
06051GHY8 Bank of America Corp Callable Note Cont 2/13/2025
2.015% Due 02/13/2026
600,000.00 05/24/2021
1.05%
620,988.00
606,316.48
96.09
5.66%
576,549.60
4,634.50
0.38%
(29,766.88)
A1 / A-
AA-
2.12
1.07
46647PBK1 JP Morgan Chase & Co Callable Note Cont 4/22/2025
2.083% Due 04/22/2026
401,000.00 05/20/2021
1.11%
415,969.33
405,996.76
95.78
5.45%
384,097.45
1,600.96
0.25%
(21,899.31)
A1 / A-
AA-
2.31
1.26
6174468Q5 Morgan Stanley Callable Note Cont 4/28/2025
2.188% Due 04/28/2026
650,000.00 05/23/2022
4.95%
615,699.50
629,716.30
96.07
5.29%
624,425.75
2,488.85
0.41%
(5,290.55)
A1 / A-
A+
2.33
1.28
023135BX3 Amazon.com Inc Callable Note Cont 4/12/2026
1.000% Due 05/12/2026
1,875,000.00 05/10/2021
1.09%
1,866,900.00
1,871,176.23
92.38
4.43%
1,732,050.00
2,552.08
1.13%
(139,126.23)
A1 / AA
AA-
2.36
2.29
91324PEC2 United Health Group Inc Callable Note Cont 4/15/2026
1.150% Due 05/15/2026
1,035,000.00 Various
1.38%
1,025,051.35
1,029,644.09
92.57
4.49%
958,122.27
1,520.88
0.62%
(71,521.82)
A2 / A+
A
2.37
2.29
89236TJK2 Toyota Motor Credit Corp Note
1.125% Due 06/18/2026
1,385,000.00 06/15/2021
1.13%
1,384,390.60
1,384,699.97
92.34
4.44%
1,278,902.08
562.66
0.83%
(105,797.89)
A1 / A+
A+
2.47
2.38
As of December 31, 2023
20
407
CC 02-21-2024
407 of 456
Holdings Report
City of Cupertino -Account #10659
CUSIP Security Description Par Value/Units Purchase Date
Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
06051GJD2 Bank of America Corp Callable Note Cont 6/19/2025
1.319% Due 06/19/2026
700,000.00 07/16/2021
1.27%
701,274.00
700,476.64
94.11
5.54%
658,791.70
307.77
0.43%
(41,684.94)
A1 / A-
AA-
2.47
1.42
57629WDE7 Mass Mutual Global funding Note
1.200% Due 07/16/2026
1,000,000.00 08/19/2021
1.15%
1,002,230.00
1,001,156.16
91.29
4.89%
912,891.00
5,500.00
0.60%
(88,265.16)
Aa3 / AA+
AA+
2.54
2.43
58989V2D5 Met Tower Global Funding Note
1.250% Due 09/14/2026
770,000.00 09/07/2021
1.27%
769,291.60
769,617.09
90.96
4.86%
700,395.08
2,860.76
0.46%
(69,222.01)
Aa3 / AA-
AA-
2.71
2.59
931142ER0 Wal-Mart Stores Callable Note Cont 08/17/2026
1.050% Due 09/17/2026
350,000.00 09/08/2021
1.09%
349,338.50
349,641.36
91.88
4.25%
321,582.10
1,061.67
0.21%
(28,059.26)
Aa2 / AA
AA
2.72
2.61
61690U7W4 Morgan Stanley Bank NA Callable Note Cont 9/30/2026
5.882% Due 10/30/2026
1,000,000.00 Various
5.88%
1,000,082.50
1,000,077.97
102.82
4.77%
1,028,226.00
9,803.34
0.67%
28,148.03
Aa3 / A+
AA-
2.83
2.50
59217GER6 Metlife Note
1.875% Due 01/11/2027
1,115,000.00 01/03/2022
1.90%
1,113,728.90
1,114,230.10
91.31
5.00%
1,018,145.53
9,872.40
0.67%
(96,084.57)
Aa3 / AA-
AA-
3.03
2.85
808513BY0 Charles Schwab Corp Callable Note Cont 2/3/2027
2.450% Due 03/03/2027
960,000.00 03/01/2022
2.46%
959,729.90
959,827.01
93.09
4.83%
893,640.00
7,709.34
0.59%
(66,187.01)
A2 / A-
A
3.17
2.97
084664CZ2 Berkshire Hathaway Callable Note Cont 2/15/2027
2.300% Due 03/15/2027
1,615,000.00 03/07/2022
2.30%
1,614,693.15
1,614,803.56
94.58
4.12%
1,527,462.16
10,937.14
1.00%
(87,341.40)
Aa2 / AA
A+
3.21
3.02
06051GHT9 Bank of America Corp Callable Note 1X 4/23/2026
3.559% Due 04/23/2027
1,150,000.00 Various
4.93%
1,114,222.54
1,124,875.24
96.24
5.30%
1,106,815.20
7,730.94
0.72%
(18,060.04)
A1 / A-
AA-
3.31
2.17
665859AW4 Northern Trust Company Callable Note Cont 4/10/2027
4.000% Due 05/10/2027
670,000.00 05/05/2022
4.04%
668,914.60
669,271.84
98.65
4.44%
660,933.56
3,796.67
0.43%
(8,338.28)
A2 / A+
A+
3.36
3.09
91324PEG3 United Health Group Inc Callable Note Cont 4/15/2027
3.700% Due 05/15/2027
675,000.00 05/17/2022
3.69%
675,316.70
675,213.92
97.93
4.37%
661,007.93
3,191.25
0.43%
(14,205.99)
A2 / A+
A
3.37
3.12
57636QAW4 MasterCard Inc Callable Note Cont 2/9/28
4.875% Due 03/09/2028
945,000.00 03/06/2023
4.90%
944,083.35
944,232.86
103.07
4.05%
974,035.13
14,332.50
0.64%
29,802.27
Aa3 / A+
NR
4.19
3.65
TOTAL Corporate 43,705,000.00 2.17%
43,741,683.22
43,636,597.12 5.05%
42,037,620.79
247,136.07
27.47%
(1,598,976.33)
A1 / A+
AA-
1.76
1.57
As of December 31, 2023
21
408
CC 02-21-2024
408 of 456
Holdings Report
City of Cupertino -Account #10659
CUSIP Security Description Par Value/Units Purchase Date
Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
Money Market Fund
94975H270 Wells Fargo 100% Treasury Money Mkt Fund 416,194.51 Various
4.94%
416,194.51
416,194.51
1.00
4.94%
416,194.51
0.00
0.27%
0.00
Aaa / AAA
NR
0.00
0.00
TOTAL Money Market Fund 416,194.51 4.94%
416,194.51
416,194.51 4.94%
416,194.51
0.00
0.27%
0.00
Aaa / AAA
NR
0.00
0.00
Municipal Bonds
13063DRK6 California State Taxable GO
2.400% Due 10/01/2024
755,000.00 10/16/2019
1.91%
772,342.35
757,634.04
98.08
5.03%
740,533.45
4,530.00
0.48%
(17,100.59)
Aa2 / AA-
AA
0.75
0.73
TOTAL Municipal Bonds 755,000.00 1.91%
772,342.35
757,634.04 5.03%
740,533.45
4,530.00
0.48%
(17,100.59)
Aa2 / AA-
AA
0.75
0.73
Supranational
45950KCT5 International Finance Corp Note
0.375% Due 07/16/2025
2,500,000.00 05/27/2021
0.66%
2,471,150.00
2,489,233.93
93.88
4.53%
2,346,965.00
4,296.88
1.53%
(142,268.93)
Aaa / AAA
NR
1.54
1.50
459058JL8 Intl. Bank Recon & Development Note
0.500% Due 10/28/2025
2,400,000.00 Various
0.60%
2,388,859.25
2,395,678.23
93.19
4.42%
2,236,651.20
2,100.01
1.45%
(159,027.03)
Aaa / AAA
AAA
1.83
1.78
4581X0DV7 Inter-American Dev Bank Note
0.875% Due 04/20/2026
2,460,000.00 04/13/2021
0.97%
2,448,733.20
2,454,817.03
92.71
4.23%
2,280,697.98
4,245.21
1.48%
(174,119.05)
Aaa / AAA
AAA
2.30
2.23
TOTAL Supranational 7,360,000.00 0.74%
7,308,742.45
7,339,729.19 4.40%
6,864,314.18
10,642.10
4.47%
(475,415.01)
Aaa / AAA
AAA
1.89
1.83
US Treasury
912828X70 US Treasury Note
2.000% Due 04/30/2024
1,700,000.00 06/10/2019
1.92%
1,705,976.56
1,700,401.79
98.95
5.19%
1,682,202.70
5,791.21
1.10%
(18,199.09)
Aaa / AA+
AA+
0.33
0.33
912828XX3 US Treasury Note
2.000% Due 06/30/2024
2,000,000.00 Various
1.80%
2,018,574.22
2,001,904.29
98.44
5.20%
1,968,828.00
109.89
1.28%
(33,076.29)
Aaa / AA+
AA+
0.50
0.49
912797GB7 US Treasury Bill
5.119% Due 07/11/2024
1,000,000.00 07/27/2023
5.39%
950,378.99
972,701.34
97.27
5.39%
972,701.34
0.00
0.63%
0.00
P-1 / A-1+
F-1+
0.53
0.51
912797GK7 US Treasury Bill
5.119% Due 08/08/2024
1,000,000.00 08/30/2023
5.39%
951,232.07
968,720.28
96.87
5.39%
968,720.28
0.00
0.63%
0.00
P-1 / A-1+
F-1+
0.61
0.59
912828D56 US Treasury Note
2.375% Due 08/15/2024
1,700,000.00 09/18/2019
1.71%
1,753,191.41
1,706,737.97
98.37
5.06%
1,672,242.40
15,250.34
1.10%
(34,495.57)
Aaa / AA+
AA+
0.62
0.60
912797GL5 US Treasury Bill
5.162% Due 09/05/2024
1,000,000.00 09/25/2023
5.44%
950,526.04
964,436.11
96.44
5.44%
964,436.11
0.00
0.63%
0.00
P-1 / A-1+
F-1+
0.68
0.66
As of December 31, 2023
22
409
CC 02-21-2024
409 of 456
Holdings Report
City of Cupertino -Account #10659
CUSIP Security Description Par Value/Units Purchase Date
Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
912828YY0 US Treasury Note
1.750% Due 12/31/2024
2,100,000.00 03/15/2022
1.97%
2,087,203.13
2,095,425.21
97.05
4.81%
2,038,020.60
100.96
1.32%
(57,404.61)
Aaa / AA+
AA+
1.00
0.97
912828ZC7 US Treasury Note
1.125% Due 02/28/2025
1,500,000.00 03/18/2020
0.81%
1,523,144.53
1,505,430.70
96.05
4.65%
1,440,762.00
5,702.27
0.94%
(64,668.70)
Aaa / AA+
AA+
1.16
1.13
91282CED9 US Treasury Note
1.750% Due 03/15/2025
3,100,000.00 Various
2.23%
3,057,617.20
3,082,742.28
96.63
4.65%
2,995,495.90
16,096.16
1.96%
(87,246.38)
Aaa / AA+
AA+
1.21
1.17
912828ZL7 US Treasury Note
0.375% Due 04/30/2025
2,500,000.00 03/21/2022
2.24%
2,360,839.85
2,440,535.09
94.63
4.57%
2,365,820.00
1,596.84
1.54%
(74,715.09)
Aaa / AA+
AA+
1.33
1.30
91282CAB7 US Treasury Note
0.250% Due 07/31/2025
1,500,000.00 03/12/2021
0.72%
1,469,765.63
1,489,089.91
93.65
4.44%
1,404,784.50
1,569.29
0.91%
(84,305.41)
Aaa / AA+
AA+
1.58
1.55
91282CAM3 US Treasury Note
0.250% Due 09/30/2025
2,400,000.00 Various
0.56%
2,366,140.63
2,387,071.18
93.13
4.38%
2,235,000.00
1,524.59
1.45%
(152,071.18)
Aaa / AA+
AA+
1.75
1.71
91282CAT8 US Treasury Note
0.250% Due 10/31/2025
2,450,000.00 Various
0.49%
2,422,492.19
2,439,451.51
92.89
4.33%
2,275,724.15
1,043.27
1.48%
(163,727.36)
Aaa / AA+
AA+
1.84
1.79
91282CAZ4 US Treasury Note
0.375% Due 11/30/2025
2,250,000.00 03/26/2021
0.77%
2,209,658.20
2,233,480.42
92.86
4.30%
2,089,424.25
737.70
1.36%
(144,056.17)
Aaa / AA+
AA+
1.92
1.87
91282CBH3 US Treasury Note
0.375% Due 01/31/2026
2,500,000.00 05/27/2021
0.75%
2,456,445.31
2,480,605.55
92.39
4.23%
2,309,765.00
3,923.23
1.50%
(170,840.55)
Aaa / AA+
AA+
2.09
2.03
91282CBW0 US Treasury Note
0.750% Due 04/30/2026
2,500,000.00 05/27/2021
0.80%
2,493,652.34
2,496,999.16
92.52
4.15%
2,312,890.00
3,193.68
1.50%
(184,109.16)
Aaa / AA+
AA+
2.33
2.27
91282CCZ2 US Treasury Note
0.875% Due 09/30/2026
1,400,000.00 10/18/2021
1.19%
1,379,054.68
1,388,374.01
91.85
4.04%
1,285,867.80
3,112.70
0.84%
(102,506.21)
Aaa / AA+
AA+
2.75
2.66
91282CDG3 US Treasury Note
1.125% Due 10/31/2026
1,400,000.00 11/15/2021
1.25%
1,391,468.75
1,395,123.65
92.28
4.04%
1,291,882.20
2,682.69
0.84%
(103,241.45)
Aaa / AA+
AA+
2.84
2.73
91282CJP7 US Treasury Note
4.375% Due 12/15/2026
2,500,000.00 12/28/2023
4.01%
2,525,097.66
2,525,028.07
100.98
4.02%
2,524,415.00
5,080.26
1.64%
(613.07)
Aaa / AA+
AA+
2.96
2.75
91282CEW7 US Treasury Note
3.250% Due 06/30/2027
3,250,000.00 Various
3.18%
3,260,312.50
3,257,022.60
97.72
3.95%
3,175,987.75
290.18
2.06%
(81,034.85)
Aaa / AA+
AA+
3.50
3.27
91282CFB2 US Treasury Note
2.750% Due 07/31/2027
400,000.00 08/22/2022
3.12%
393,218.75
395,084.25
95.99
3.96%
383,968.80
4,603.26
0.25%
(11,115.45)
Aaa / AA+
AA+
3.58
3.33
91282CFH9 US Treasury Note
3.125% Due 08/31/2027
4,500,000.00 Various
3.28%
4,468,902.34
4,477,091.94
97.19
3.96%
4,373,437.50
47,518.89
2.87%
(103,654.44)
Aaa / AA+
AA+
3.67
3.39
91282CFM8 US Treasury Note
4.125% Due 09/30/2027
3,450,000.00 Various
4.31%
3,421,152.34
3,428,035.91
100.63
3.94%
3,471,831.60
36,161.38
2.28%
43,795.69
Aaa / AA+
AA+
3.75
3.41
91282CFZ9 US Treasury Note
3.875% Due 11/30/2027
850,000.00 12/05/2022
3.81%
852,656.25
852,085.59
99.79
3.93%
848,207.35
2,879.78
0.55%
(3,878.24)
Aaa / AA+
AA+
3.92
3.59
As of December 31, 2023
23
410
CC 02-21-2024
410 of 456
Holdings Report
City of Cupertino -Account #10659
CUSIP Security Description Par Value/Units Purchase Date
Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
91282CGC9 US Treasury Note
3.875% Due 12/31/2027
2,750,000.00 Various
3.67%
2,775,107.42
2,770,387.62
99.84
3.92%
2,745,487.25
292.75
1.78%
(24,900.37)
Aaa / AA+
AA+
4.00
3.67
91282CGH8 US Treasury Note
3.500% Due 01/31/2028
3,000,000.00 02/07/2023
3.81%
2,957,929.69
2,965,496.79
98.42
3.92%
2,952,657.00
43,940.22
1.95%
(12,839.79)
Aaa / AA+
AA+
4.09
3.71
91282CGP0 US Treasury Note
4.000% Due 02/29/2028
3,700,000.00 Various
4.00%
3,699,113.28
3,699,372.65
100.33
3.91%
3,712,139.70
50,010.99
2.44%
12,767.05
Aaa / AA+
AA+
4.17
3.76
TOTAL US Treasury 58,400,000.00 2.52%
57,900,851.96
58,118,835.87 4.33%
56,462,699.18
253,212.53
36.84%
(1,656,136.69)
Aaa / AA+
AA+
2.44
2.28
TOTAL PORTFOLIO 158,767,712.01 2.19%
158,610,645.99
158,476,831.43 4.69%
153,316,446.36
642,119.50
100.00%
(5,160,385.07)
Aa1 / AA
AA+
2.10
1.76
TOTAL MARKET VALUE PLUS ACCRUALS 153,958,565.86
As of December 31, 2023
24
411
CC 02-21-2024
411 of 456
SECTION |Section 4 |Transactions
25
412
CC 02-21-2024
412 of 456
Transaction Ledger
City of Cupertino -Account #10659
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/Disp
Yield Amount Interest
Pur/Sold Total Amount Gain/Loss
ACQUISITIONS
Purchase 11/01/2023 61690U7W4 725,000.00 Morgan Stanley Bank NA Callable Note Cont
9/30/2026
5.882% Due: 10/30/2026
100.000 5.88%725,000.00 0.00 725,000.00 0.00
Purchase 11/02/2023 61690U7W4 275,000.00 Morgan Stanley Bank NA Callable Note Cont
9/30/2026
5.882% Due: 10/30/2026
100.030 5.87%275,082.50 44.93 275,127.43 0.00
Purchase 11/08/2023 438123AC5 340,000.00 Honda Auto Receivables OT 2023-4 A3
5.67% Due: 06/21/2028
99.982 5.74%339,940.13 0.00 339,940.13 0.00
Purchase 11/08/2023 438123AC5 465,000.00 Honda Auto Receivables OT 2023-4 A3
5.67% Due: 06/21/2028
100.441 5.55%467,052.54 0.00 467,052.54 0.00
Purchase 11/15/2023 3133EPC60 2,800,000.00 FFCB Note
4.625% Due: 11/15/2027
99.629 4.73%2,789,612.00 0.00 2,789,612.00 0.00
Purchase 11/24/2023 89231FAD2 1,300,000.00 Toyota Auto Recievables Owner 2023-C A3
5.16% Due: 04/17/2028
99.594 5.65%1,294,718.75 1,677.00 1,296,395.75 0.00
Purchase 12/04/2023 58769FAC9 1,100,000.00 Mercedes-Benz Auto Receivables 2023-2 A3
5.95% Due: 11/15/2028
102.117 3.88%1,123,289.06 3,454.31 1,126,743.37 0.00
Purchase 12/29/2023 91282CJP7 2,500,000.00 US Treasury Note
4.375% Due: 12/15/2026
101.004 4.01%2,525,097.66 4,183.74 2,529,281.40 0.00
Subtotal 9,505,000.00 9,539,792.64 9,359.98 9,549,152.62 0.00
TOTAL ACQUISITIONS 9,505,000.00 9,539,792.64 9,359.98 9,549,152.62 0.00
DISPOSITIONS
Maturity 11/02/2023 912796YT0 1,500,000.00 US Treasury Bill
4.888% Due: 11/02/2023
100.000 1,500,000.00 0.00 1,500,000.00 0.00
Maturity 11/15/2023 4581X0DP0 2,800,000.00 Inter-American Dev Bank Note
0.25% Due: 11/15/2023
100.000 2,800,000.00 0.00 2,800,000.00 0.00
September 30, 2023 through December 31, 2023
As of December 31, 2023
26
413
CC 02-21-2024
413 of 456
Transaction Ledger
City of Cupertino -Account #10659
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/Disp
Yield Amount Interest
Pur/Sold Total Amount Gain/Loss
Maturity 12/04/2023 3137EAFA2 855,000.00 FHLMC Note
0.25% Due: 12/04/2023
100.000 855,000.00 0.00 855,000.00 0.00
Maturity 12/28/2023 912796ZN2 1,500,000.00 US Treasury Bill
5.228% Due: 12/28/2023
100.000 1,500,000.00 0.00 1,500,000.00 0.00
Subtotal 6,655,000.00 6,655,000.00 0.00 6,655,000.00 0.00
TOTAL DISPOSITIONS 6,655,000.00 6,655,000.00 0.00 6,655,000.00 0.00
September 30, 2023 through December 31, 2023
As of December 31, 2023
27
414
CC 02-21-2024
414 of 456
Important Disclosures
2023 Chandler Asset Management,Inc, An Independent Registered Investment Adviser.
Information contained herein is confidential.Prices are provided by ICE Data Services Inc (“IDS”),an independent pricing source.In the event IDS does not provide a price or if the price provided is not
reflective of fair market value, Chandler will obtain pricing from an alternative approved third party pricing source in accordance with our written valuation policy and procedures.Our valuation
procedures are also disclosed in Item 5 of our Form ADV Part 2A.
Performance results are presented gross-of-advisory fees and represent the client’s Total Return.The deduction of advisory fees lowers performance results.These results include the reinvestment of
dividends and other earnings.Past performance may not be indicative of future results.Therefore,clients should not assume that future performance of any specific investment or investment strategy
will be profitable or equal to past performance levels.All investment strategies have the potential for profit or loss.Economic factors,market conditions or changes in investment strategies,
contributions or withdrawals may materially alter the performance and results of your portfolio.
Index returns assume reinvestment of all distributions.Historical performance results for investment indexes generally do not reflect the deduction of transaction and/or custodial charges or the
deduction of an investment management fee,the incurrence of which would have the effect of decreasing historical performance results.It is not possible to invest directly in an index.
Source ICE Data Indices,LLC ("ICE"),used with permission. ICE permits use of the ICE indices and related data on an "as is"basis; ICE,its affiliates and their respective third party suppliers disclaim any and
all warranties and representations, express and/or implied,including any warranties of merchantability or fitness for a particular purpose or use,including the indices,index data and any data included
in,related to,or derived therefrom.Neither ICE data,its affiliates or their respective third party providers guarantee the quality,adequacy,accuracy,timeliness or completeness of the indices or the
index data or any component thereof,and the indices and index data and all components thereof are provided on an "as is"basis and licensee's use it at licensee's own risk. ICE data,its affiliates and their
respective third party do not sponsor,endorse,or recommend chandler asset management,or any of its products or services.
This report is provided for informational purposes only and should not be construed as a specific investment or legal advice.The information contained herein was obtained from sources believed to be
reliable as of the date of publication,but may become outdated or superseded at any time without notice.Any opinions or views expressed are based on current market conditions and are subject to
change.This report may contain forecasts and forward-looking statements which are inherently limited and should not be relied upon as indicator of future results.Past performance is not indicative of
future results.This report is not intended to constitute an offer,solicitation,recommendation or advice regarding any securities or investment strategy and should not be regarded by recipients as a
substitute for the exercise of their own judgment.
Fixed income investments are subject to interest, credit and market risk.Interest rate risk:the value of fixed income investments will decline as interest rates rise.Credit risk:the possibility that the
borrower may not be able to repay interest and principal.Low rated bonds generally have to pay higher interest rates to attract investors willing to take on greater risk.Market risk:the bond market in
general could decline due to economic conditions,especially during periods of rising interest rates.
Ratings information have been provided by Moody’s,S&P and Fitch through data feeds we believe to be reliable as of the date of this statement, however we cannot guarantee its accuracy.
Security level ratings for U.S.Agency issued mortgage-backed securities (“MBS”)reflect the issuer rating because the securities themselves are not rated.The issuing U.S.Agency guarantees the full and
timely payment of both principal and interest and carries a AA+/Aaa/AAA by S&P,Moody’s and Fitch respectively.
Your qualified custodian bank maintains control of all assets reflected in this statement and we urge you to compare this statement to the one you receive from your qualified custodian.Chandler does
not have any authority to withdraw or deposit funds from/to the custodian account.
As of December 31, 2023
28
415
CC 02-21-2024
415 of 456
Asset Class 10-Year Snapshot Disclosure As of December 31, 2023
US Small Cap Stocks – Morgan Stanley Capital International (MSCI) Small Cap 1750 –
The MSCI Small Cap 1750 is a market capitalization weighted index that measures the
performance of small capitalization U.S. stocks.
US Mid Cap Stocks – Morgan Stanley Capital International (MSCI) Mid Cap 450 –
The MSCI Mid Cap 450 is a market capitalization weighted index that measures the performance
of mid-capitalization U.S. stocks.
US Large Cap Stocks – Standard & Poor’s 500 – The S&P 500 is a market value weighted index of
500 large capitalization stocks. The 500 companies included in the index capture approximately
80% of available U.S. market capitalization.
International Stocks – Morgan Stanley Capital International (MSCI) EAFE – The MSCI EAFE
International Equity Index is a market capitalization weighted index that captures international
equity performance of large and mid-cap stocks in the developed stock markets of Europe,
Australasia, and the Far East.
Emerging Market Stocks – Morgan Stanley Capital International (MSCI) Emerging Markets – The
MSCI Emerging Markets Index is a market capitalization weighted index that captures equity
performance of large and mid-cap stocks across emerging market countries.
U.S. Real Estate – Morgan Stanley Capital International (MSCI) REIT – The MSCI US REIT Index is a
free float-adjusted market capitalization index that is comprised of equity REITs. It represents
about 99% of the US REIT universe and securities are classified in the REIT sector according to the
Global Industry Classification Standard (GICS®). It excludes Mortgage REITs and selected
Specialized REITs.
International Real Estate – S&P Developed Ex-US Property – The S&P Developed Ex-US Property
Index is a market capitalization weighted index that captures the performance of a universe of
publicly traded property companies based in developing countries outside of the US. The
companies included are engaged in real estate related activities, such as property ownership,
management, development, rental and investment.
US Core Bonds – ICE BofA US Corporate, Government, Mortgage – The ICE BofA US Corporate,
Government, Mortgage index is a broad measure of US investment grade bond performance,
including US Treasuries, agencies, investment-grade corporates and mortgage securities.
US High Yield Bonds – ICE BofA US High Yield – The ICE BofA High Yield Bond Index measures the
market of USD-denominated, non-investment grade, fixed-rate, taxable corporate bonds.
International Bonds – Bloomberg Barclays Global Aggregate ex-USD Total Return Index Value
Unhedged USD – Index from 2/1/2013 – current. This index measures the performance of global
investment grade debt from 24 local currency markets. This multi- currency benchmark includes
treasury, government-related, corporate and securitized fixed-rate bonds from both developed
and emerging markets issuers. S&P Citigroup International Govt Bond – Index from 1/1/2009 –
1/31/2013. This index measures the performance of sovereign bonds of non-U.S. developed
countries.
Diversified Commodities – S&P GSCI Commodity Index – The S&P GSCI Commodity Index is a
world production-weighted measure of general commodity price movements and inflation in
the world economy. It consists of a basket of physical commodity futures contracts.
Source ICE Data Indices, LLC ("ICE"), used with permission. ICE permits the use of ICE Indices and related data
on an “as is” basis; ICE, its affiliates and their respective third party suppliers disclaim any and all warranties
and representation, express and/or implied, including any warranties of merchantability or fitness for a
particular purpose or use, including the indices, index data and any data included in, related to, or derived
therefrom. Neither ICE data, its affiliates or their respective third-party providers guarantee the quality,
adequacy, accuracy, timeliness or completeness of the indices or the index data or any component thereof,
and the indices and index data and all components thereof are provided on an “as is” basis and licensee’s use
is at licensee’s own risk. ICE data, its affiliates and their respective third party do not sponsor, endorse, or
recommend Chandler, or any of its products or services.
Bloomberg® and Bloomberg Barclays Global Aggregate ex-USD Total Return Index Value Unhedged USD are
service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited
("BISL"), the administrator of the index (collectively, "Bloomberg") and have been licensed for use for certain
purposes by Chandler Asset Management Inc. Bloomberg is not affiliated with Chandler Asset Management
Inc., and Bloomberg does not approve, endorse, review, or recommend this product. Bloomberg does not
guarantee the timeliness, accurateness, or completeness of any data or information relating to this product.
Morgan Stanley Capital International® (MSCI), the MSCI indices are service marks of Morgan Stanley Capital
International and its affiliates, and have been licensed for use for certain purposes by Chandler Asset
Management Inc. MSCI is not affiliated with Chandler Asset Management Inc., and MSCI does not approve,
endorse, review, or recommend these products. MSCI does not guarantee the timeliness, accurateness, or
completeness of any data or information relating to these products.
Disclosure: This report is provided for informational purposes only and should not be construed as specific
investment or legal advice. The information contained herein was obtained from sources believed to be
reliable as of the date of publication, but may become outdated or superseded at any time without notice.
Past performance is not indicative of future results. This report is not intended to constitute an offer,
solicitation, recommendation or advice regarding any securities or investment strategy and should not be
regarded by recipients as a substitute for the exercise of their own judgement.
All investments contain risk and may lose value. Fixed income investments are subject to interest rate, credit,
and market risk. Interest rate risk: the value of fixed income investments will decline as interest rates rise.
Credit risk: the possibility that the borrower may not be able to repay interest and principal. Low rated bonds
generally have to pay higher interest rates to attract investors willing to take on greater risk. Market risk:
the bond market in general could decline due to economic conditions, especially during periods of rising
interest rates. International: Non-US markets may be more volatile due to a variety of factors including less
liquidity, transparency and oversight of companies and assets. Values of non-US investments may fluctuate
due to changes in currency exchange rates. Non-US companies are also subject to risks that come with
political and economic stability that may affect their respective countries. These risks may be greater in
emerging market countries. Equities: Investments on equities are subject to risks from stock market
fluctuations that occur in response to economic and business developments.
29
416
CC 02-21-2024
416 of 456
Benchmark Disclosures
ICE BofA 1-3 Yr US Treasury & Agency Index
The ICE BofA 1-3 Year US Treasury &Agency Index tracks the performance of US dollar denominated US Treasury and nonsubordinated US agency debt issued in the US domestic market.Qualifying
securities must have an investment grade rating (based on an average of Moody’s,S&P and Fitch).Qualifying securities must have at least one year remaining term to final maturity and less than three
years remaining term to final maturity,at least 18 months to maturity at time of issuance,a fixed coupon schedule,and a minimum amount outstanding of $1 billion for sovereigns and $250 million for
agencies.
As of December 31, 2023
30
417
CC 02-21-2024
417 of 456
INVESTMENT AND INSURANCE PRODUCTS ARE:
·NOT INSURED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC) OR ANY FEDERAL GOVERNMENT AGENCY
·NOT A DEPOSIT, OBLIGATION OF, OR GUARANTEED BY ANY BANK OR BANKING AFFILIATE
·SUBJECT TO INVESTMENT RISKS AND MAY LOSE VALUE, INCLUDING POSSIBLE LOSS OF PRINCIPAL AMOUNT INVESTED
PCS - SAN FRANCISCO CA
510 N VALLEY MILLS DRIVE, SUITE 400
WACO, TX 76710-6075
CITY OF CUPERTINO -CHANDLER ASSET MANAGEMENT
ACCOUNT NUMBER
MONTHLY STATEMENT
DECEMBER 1, 2023 THROUGH DECEMBER 31, 2023
ACCOUNT MANAGER: MICHAEL J WADE
TELEPHONE NUMBER: 515-878-6110
PFGEDD INVESTMENT CONTACT: IMR/DOE SLANGER
TELEPHONE NUMBER:
ADMINISTRATOR: BELINDA CONWAY
TELEPHONE NUMBER: 254-265-6137
36423 SE
418
CC 02-21-2024
418 of 456
Custody and trust services are provided by Principal Bank
®, Member FDIC, and/or Principal Trust Company
®. These services are provided under the trade
name Principal
®Custody Solutions. Principal Trust Company is a trade name of Delaware Charter Guarantee & Trust Company. Principal Bank and
Principal Trust Company are members of the Principal Financial Group
®, Des Moines, IA 50392.
ASSET VALUATION PRACTICES
VALUES REFLECTED FOR PUBLICLY TRADED ASSETS ARE OBTAINED FROM UNAFFILIATED SOURCES. IN SITUATIONS WHERE AN ASSET VALUE CANNOT BE
PROVIDED BY OUR UNAFFILIATED PRICING SOURCES, SUCH AS BUT NOT LIMITED TO NON-PUBLICLY TRADED ASSETS, THE CUSTOMER OR THEIR DESIGNATED
REPRESENTATIVE MUST PROVIDE THE UPDATED VALUE. IF PRINCIPAL CUSTODY SOLUTIONS DOES NOT RECEIVE AN UPDATED VALUE, OR IS UNABLE TO USE
THE VALUE PROVIDED, THE LAST REPORTED VALUE WILL CONTINUE TO BE REPORTED.
TRADE CONFIRMS
PURSUANT TO FEDERAL REGULATION, MONTHLY OR QUARTERLY ACCOUNT STATEMENTS THAT INCLUDE INVESTMENT TRANSACTION DETAILS MAY BE PROVIDED
IN LIEU OF SEPARATE TRADE CONFIRMATIONS. SEPARATE TRADE CONFIRMS MAY BE OBTAINED AT NO ADDITIONAL COST UPON WRITTEN REQUEST TO THE
ACCOUNT MANAGER.
UNCLAIMED PROPERTY DESIGNATED REPRESENTATIVE NOTIFICATION
YOUR PROPERTY MAY BE TRANSFERRED TO THE APPROPRIATE STATE IF NO ACTIVITY OCCURS IN THE ACCOUNT WITHIN THE TIME PERIOD SPECIFIED BY
STATE LAW. IF YOUR STATE OF RESIDENCE ALLOWS, YOU MAY DESIGNATE A REPRESENTATIVE FOR THE PURPOSE OF RECEIVING NOTICE OF ACCOUNT
INACTIVITY BY PROVIDING THE NAME AND MAILING OR EMAIL ADDRESS OF A REPRESENTATIVE. THE DESIGNATED REPRESENTATIVE DOES NOT HAVE ANY
RIGHTS TO YOUR ACCOUNT. PLEASE REFER TO YOUR STATE'S UNCLAIMED PROPERTY WEBSITE FOR MORE INFORMATION AND INSTRUCTIONS ON HOW TO
DESIGNATE A REPRESENTATIVE FOR NOTICE.
419
CC 02-21-2024
419 of 456
TABLE OF CONTENTS CITY OF CUPERTINO
FOR THE PERIOD DECEMBER 1, 2023 THROUGH DECEMBER 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
PAGE
REPORT NAME NUMBER_________________
ASSET SUMMARY .................................................................................. 1
STATEMENT OF ASSETS AND LIABILITIES ............................................................ 2
CASH SUMMARY ................................................................................... 20
STATEMENT OF TRANSACTIONS ...................................................................... 21
420
CC 02-21-2024
420 of 456
PAGE 1
ASSET SUMMARY CITY OF CUPERTINO
AS OF DECEMBER 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
ASSET SUMMARY
% TOTAL UNREALIZED ESTIMATED CURRENT ACCRUED
INVESTMENT CATEGORY COST VALUE MARKET VALUE MARKET GAIN/LOSS ANNUAL INCOME YIELD INCOME
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
CASH 0.00 0.00 0.00
CASH EQUIVALENTS 3,123,862.86 3,185,335.76 2.08 61,472.90 168,466 5.29 3,090.01
BONDS AND NOTES 155,342,314.38 149,994,556.45 97.92 5,347,757.93- 3,270,762 2.18 786,651.51
=====================================================================================================================================
TOTAL INVESTMENTS 158,466,177.24 153,179,892.21 100.00 5,286,285.03- 3,439,229 2.25 789,741.52
TOTAL ACCRUALS 789,741.52 789,741.52
=====================================================================================================================================
TOTAL ACCRUALS AND INVESTMENTS 159,255,918.76 153,969,633.73 5,286,285.03- 3,439,229 2.25 789,741.52
421
CC 02-21-2024
421 of 456
PAGE 2
STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF DECEMBER 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED
PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
PRINCIPAL CASH 4,183.74 4,183.74 0.00
INCOME CASH 4,183.74-4,183.74- 0.00
CASH EQUIVALENTS______________________________________________________________________________________________________________________________________
221,366.34 ALLSPRING 100% TREASURY 221,366.34 221,366.34 0.14 0.00 2,968.11
MONEY MARKET FUND - #008 1.0000 1.0000
50,359.42 PRINCIPAL PUBLIC DEPOSIT SWEEP 50,359.42 50,359.42 0.03 0.00 121.90
PROGRAM 1.0000 1.0000
1,000,000 UNITED STATES TREASURY BILLS 950,378.99 974,870.00 0.64 24,491.01 0.00
DTD 07/13/2023 DUE 07/11/2024 95.0379 97.4870
CUSIP 912797GB7
1,000,000 UNITED STATES TREASURY BILLS 951,232.07 971,230.00 0.63 19,997.93 0.00
DTD 08/10/2023 DUE 08/08/2024 95.1232 97.1230
CUSIP 912797GK7
1,000,000 UNITED STATES TREASURY BILLS 950,526.04 967,510.00 0.63 16,983.96 0.00
DTD 09/07/2023 DUE 09/05/2024 95.0526 96.7510
CUSIP 912797GL5
======================================================================================================================================
TOTAL CASH EQUIVALENTS 3,123,862.86 3,185,335.76 2.08 61,472.90 3,090.01
BOND & NOTES______________________________________________________________________________________________________________________________________
1,675,000 AIR PRODUCTS & CHEMICALS 1,771,212.00 1,653,392.50 1.08 117,819.50- 23,536.08
DTD 07/31/14 3.350 07/31/2024 105.7440 98.7100
MOODY'S RATING A2
CUSIP 009158AV8
1,875,000 AMAZON.COM INC 1,866,900.00 1,732,050.00 1.13 134,850.00- 2,552.08
DTD 05/12/21 1.000 05/12/2026 99.5680 92.3760
MOODY'S RATING A1
CUSIP 023135BX3
422
CC 02-21-2024
422 of 456
PAGE 3
STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF DECEMBER 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED
PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
1,375,000 AMERICAN EXPRESS CREDIT ACCOUNT 1,374,695.85 1,346,867.50 0.88 27,828.35- 2,071.67
ASSET BCKD SEC SER 2022-2 CL A 99.9779 97.9540
DTD 05/24/2022 3.390% 05/17/2027
NON CALLABLE
CUSIP 02582JJT8
1,545,000 AMERICAN EXPRESS CREDIT ACCOUNT 1,524,359.77 1,494,509.40 0.98 29,850.37- 1,517.53
ASSET BCKD SEC SER 2022-1 CL A 98.6641 96.7320
DTD 03/18/2022 2.210% 03/15/2027
NON CALLABLE
MOODY'S RATING AAA
CUSIP 02589BAA8
1,150,000 BANK OF AMERICA CORP 1,114,222.54 1,106,817.50 0.72 7,405.04- 7,730.94
MED TERM NOTE 96.8889 96.2450
DTD 04/23/19 04/23/2027
MOODY'S RATING A1
CUSIP 06051GHT9
600,000 BANK OF AMERICA CORP 620,988.00 576,552.00 0.38 44,436.00- 4,634.50
MED TERM NOTE 103.4980 96.0920
DTD 02/13/20 02/13/2026
MOODY'S RATING A1
CUSIP 06051GHY8
700,000 BANK OF AMERICA CORP 701,274.00 658,791.00 0.43 42,483.00-307.77
MED TERM NOTE 100.1820 94.1130
DTD 06/19/20 06/19/2026
MOODY'S RATING A1
CUSIP 06051GJD2
600,000 BANK OF MONTREAL 582,216.00 585,336.00 0.38 3,120.00 1,791.67
MED TERM NOTE 97.0360 97.5560
DTD 07/09/21 0.625 07/09/2024
MOODY'S RATING A2
CUSIP 06367TQW3
423
CC 02-21-2024
423 of 456
PAGE 4
STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF DECEMBER 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED
PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
1,240,000 BANK OF MONTREAL 1,285,656.80 1,188,862.40 0.78 96,794.40- 3,823.33
MED TERM NOTE 103.6820 95.8760
DTD 04/27/20 1.850 05/01/2025
MOODY'S RATING A2
CUSIP 06367WB85
1,000,000 BANK OF NEW YORK MELLON 1,024,910.00 982,410.00 0.64 42,500.00- 4,718.06
MED TERM NOTE 102.4910 98.2410
DTD 11/18/13 3.950 11/18/2025
MOODY'S RATING A1
CUSIP 06406HCQ0
1,370,000 BANK OF NY MELLON CORP 1,369,808.20 1,338,188.60 0.87 31,619.60- 8,414.08
DTD 04/26/2022 3.350% 04/25/2025 99.9860 97.6780
CALLABLE
MOODY'S RATING A1
CUSIP 06406RBC0
1,615,000 BERKSHIRE HATHAWAY FIN 1,614,693.15 1,527,467.00 1.00 87,226.15- 10,937.14
DTD 03/15/2022 2.300% 03/15/2027 99.9810 94.5800
CALLABLE
MOODY'S RATING AA2
CUSIP 084664CZ2
117,001.4 BMW VEHICLE LEASE TRUST 116,983.91 116,338.00 0.08 645.91-21.45
SER 2022-1 CL A3 *0 DAY DELAY*99.9851 99.4330
DTD 01/19/22 1.100 03/25/2025
CUSIP 05601XAC3
517,431.97 BMW VEHICLE OWNER TRUST 517,405.06 510,125.83 0.33 7,279.23-276.83
ASSET BCKD SEC SER 2022-A CL A3 99.9948 98.5880
DTD 05/18/2022 3.210% 08/25/2026
CALLABLE
MOODY'S RATING AAA
CUSIP 05602RAD3
755,000 CALIFORNIA ST 772,342.35 740,534.20 0.48 31,808.15- 4,530.00
TXBL-REF 102.2970 98.0840
DTD 10/24/19 2.400 10/01/2024
MOODY'S RATING AA2
CUSIP 13063DRK6
424
CC 02-21-2024
424 of 456
PAGE 5
STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF DECEMBER 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED
PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
1,100,000 CATERPILLAR FINL SERVICE 1,111,517.00 1,072,599.00 0.70 38,918.00- 3,481.81
MED TERM NOTE 101.0470 97.5090
DTD 11/08/19 2.150 11/08/2024
MOODY'S RATING A2
CUSIP 14913Q3B3
960,000 CHARLES SCHWAB CORP 959,729.90 893,644.80 0.58 66,085.10- 7,709.33
DTD 03/03/2022 2.450% 03/03/2027 99.9719 93.0880
CALLABLE
MOODY'S RATING A2
CUSIP 808513BY0
1,500,000 FED HOME LN BK 1,564,890.20 1,483,935.00 0.97 80,955.20- 2,036.46
DTD 05/08/14 2.875 06/14/2024 104.3260 98.9290
MOODY'S RATING AAA
CUSIP 3130A1XJ2
2,000,000 FED HOME LN BK 2,103,380.00 1,971,920.00 1.29 131,460.00- 17,250.00
DTD 08/15/14 2.875 09/13/2024 105.1690 98.5960
MOODY'S RATING AAA
CUSIP 3130A2UW4
1,286,114.81 FED HOME LN MTG CORP 1,383,477.73 1,264,340.89 0.83 119,136.84- 3,398.56
SER KO41 CL A2 *24 DAY DELAY*107.5703 98.3070
DTD 12/01/14 3.171 10/25/2024
CUSIP 3137BFE98
2,365,000 FED HOME LN MTG CORP 2,363,178.95 2,283,194.65 1.49 79,984.30- 13,697.29
DTD 02/14/20 1.500 02/12/2025 99.9230 96.5410
MOODY'S RATING AAA
CUSIP 3137EAEP0
1,250,000 FED HOME LN MTG CORP 1,243,775.00 1,174,662.50 0.77 69,112.50- 2,083.33
SER USD 99.5020 93.9730
DTD 07/23/20 0.375 07/21/2025
MOODY'S RATING AAA
CUSIP 3137EAEU9
425
CC 02-21-2024
425 of 456
PAGE 6
STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF DECEMBER 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED
PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
2,500,000 FED HOME LN MTG CORP 2,489,362.80 2,333,325.00 1.52 156,037.80- 2,552.08
DTD 09/25/20 0.375 09/23/2025 99.5745 93.3330
MOODY'S RATING AAA
CUSIP 3137EAEX3
1,500,000 FED NATL MTG ASSN 1,484,895.00 1,474,980.00 0.96 9,915.00- 13,052.08
DTD 07/08/19 1.750 07/02/2024 98.9930 98.3320
MOODY'S RATING AAA
CUSIP 3135G0V75
1,975,000 FED NATL MTG ASSN 1,965,802.75 1,924,677.00 1.26 41,125.75- 6,775.35
DTD 10/18/19 1.625 10/15/2024 99.5343 97.4520
MOODY'S RATING AAA
CUSIP 3135G0W66
1,295,000 FED NATL MTG ASSN 1,309,953.95 1,254,867.95 0.82 55,086.00- 10,171.15
DTD 01/10/20 1.625 01/07/2025 101.1548 96.9010
MOODY'S RATING AAA
CUSIP 3135G0X24
1,860,000 FED NATL MTG ASSN 1,856,168.40 1,768,450.80 1.15 87,717.60- 2,228.13
DTD 04/24/20 0.625 04/22/2025 99.7940 95.0780
MOODY'S RATING AAA
CUSIP 3135G03U5
2,500,000 FED NATL MTG ASSN 2,499,227.30 2,359,100.00 1.54 140,127.30-486.11
DTD 06/19/20 0.500 06/17/2025 99.9691 94.3640
MOODY'S RATING AAA
CUSIP 3135G04Z3
2,500,000 FED NATL MTG ASSN 2,487,983.75 2,337,300.00 1.53 150,683.75- 3,281.25
DTD 08/27/20 0.375 08/25/2025 99.5194 93.4920
MOODY'S RATING AAA
CUSIP 3135G05X7
2,500,000 FED NATL MTG ASSN 2,492,700.00 2,328,625.00 1.52 164,075.00- 1,875.00
DTD 11/12/20 0.500 11/07/2025 99.7080 93.1450
MOODY'S RATING AAA
CUSIP 3135G06G3
426
CC 02-21-2024
426 of 456
PAGE 7
STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF DECEMBER 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED
PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
2,800,000 FEDERAL FARM CREDIT BANK 2,789,612.00 2,862,776.00 1.87 73,164.00 16,547.22
DTD 11/15/2023 4.625% 11/15/2027 99.6290 102.2420
NON CALLABLE
MOODY'S RATING AAA
CUSIP 3133EPC60
1,000,000 FHLMC MULTIFAMILY STRUCTURED P 1,079,687.50 972,420.00 0.63 107,267.50- 2,508.33
SER K049 CL A2 *24 DAY DELAY*107.9688 97.2420
DTD 10/01/15 3.010 08/25/2025
CUSIP 3137BLMZ8
950,000 FHLMC MULTIFAMILY STRUCTURED P 1,018,132.81 928,720.00 0.61 89,412.81- 2,639.42
SER K050 CL A2 *24 DAY DELAY*107.1719 97.7600
DTD 11/01/15 08/25/2025
CUSIP 3137BLW95
440,000 FHLMC MULTIFAMILY STRUCTURED P 453,079.69 429,180.40 0.28 23,899.29- 1,212.93
SER K051 CL A2 *24 DAY DELAY*102.9727 97.5410
DTD 12/01/15 3.308 09/25/2025
CUSIP 3137BM7C4
570,000 FHLMC MULTIFAMILY STRUCTURED P 582,001.17 552,050.70 0.36 29,950.47- 1,422.63
SER K053 CL A2 *24 DAY DELAY*102.1055 96.8510
DTD 03/01/16 2.995 12/25/2025
CUSIP 3137BN6G4
650,000 FHLMC MULTIFAMILY STRUCTURED P 687,451.17 620,210.50 0.40 67,240.67- 1,437.04
SER K058 CL A2 *24 DAY DELAY*105.7617 95.4170
DTD 11/01/16 2.653 08/25/2026
CUSIP 3137BSP72
1,000,000 FHLMC MULTIFAMILY STRUCTURED P 950,664.06 961,470.00 0.63 10,805.94 2,703.33
SER K068 CL A2 *24 DAY DELAY*95.0664 96.1470
DTD 10/01/17 3.244 08/25/2027
MOODY'S RATING AAA
CUSIP 3137FBBX3
427
CC 02-21-2024
427 of 456
PAGE 8
STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF DECEMBER 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED
PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
468,695.25 GM FINANCIAL AUTOMOBILE LEASIN 468,691.21 465,733.10 0.30 2,958.11-264.94
SER 2022-1 CL A3 *0 DAY DELAY*99.9992 99.3680
DTD 02/23/22 1.850 03/20/2025
MOODY'S RATING AAA
CUSIP 36265MAC9
252,152.27 GM FINANCIAL SECURITIZED TERM 252,145.84 243,700.13 0.16 8,445.71-71.44
SER 2021-4 CL A3 *0 DAY DELAY*99.9975 96.6480
DTD 10/21/21 0.680 09/16/2026
MOODY'S RATING AAA
CUSIP 362554AC1
390,000 GM FINANCIAL SECURITIZED TERM 389,918.49 382,426.20 0.25 7,492.29-503.75
ASSET BCKD SEC SER 2022-2 CL A3 99.9791 98.0580
DTD 04/13/2022 3.100% 02/16/2027
CALLABLE
MOODY'S RATING AAA
CUSIP 362585AC5
246,016.07 GM FINANCIAL SECURITIZED TERM 245,994.68 238,810.26 0.16 7,184.42-129.16
SER 2022-1 CL A3 *0 DAY DELAY*99.9913 97.0710
DTD 01/19/22 1.260 11/16/2026
CUSIP 380146AC4
1,400,000 GUARDIAN LIFE GLOB FUND 1,385,860.00 1,295,336.00 0.85 90,524.00-714.58
144A PRIV PLCMT 0.875 12/10/2025 98.9900 92.5240
MOODY'S RATING AA1
CUSIP 40139LBC6
805,000 HONDA AUTO RECEIVABLES OWNER 806,992.67 821,824.50 0.54 14,831.83 1,267.88
ASSET BCKD SEC SER 2023-4 CL A3 100.2476 102.0900
DTD 11/08/2023 5.670% 06/21/2028
NON CALLABLE
MOODY'S RATING AAA
CUSIP 438123AC5
49,061.52 HONDA AUTO RECEIVABLES OWNER T 49,060.62 48,465.91 0.03 594.71-3.68
SER 2021-1 CL A3 *0 DAY DELAY*99.9982 98.7860
DTD 02/24/21 0.270 04/21/2025
MOODY'S RATING AAA
CUSIP 43813GAC5
428
CC 02-21-2024
428 of 456
PAGE 9
STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF DECEMBER 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED
PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
11,635.7 HONDA AUTO RECEIVABLES OWNER T 11,633.99 11,603.93 0.01 30.06-1.55
SER 2020-3 CL A3 *0 DAY DELAY*99.9853 99.7270
DTD 09/29/20 0.370 10/18/2024
CUSIP 43813KAC6
722,168.7 HONDA AUTO RECEIVABLES OWNER T 722,060.08 702,901.24 0.46 19,158.84-603.41
SER 2022-1 CL A3 *0 DAY DELAY*99.9850 97.3320
DTD 02/23/22 1.000 05/15/2026
MOODY'S RATING AAA
CUSIP 43815BAC4
320,414.02 HONDA AUTO RECEIVABLES OWNER T 320,346.47 310,913.74 0.20 9,432.73-78.32
SER 2021-4 CL A3 *0 DAY DELAY*99.9789 97.0350
DTD 11/24/21 0.880 01/21/2026
MOODY'S RATING AAA
CUSIP 43815GAC3
225,391.76 HYUNDAI AUTO LEASE SECURITIZAT 225,386.79 223,928.97 0.15 1,457.82-116.20
SER 2022-A CL A3 *0 DAY DELAY*99.9978 99.3510
144A PRIV PLCMT 1.160 01/15/2025
MOODY'S RATING AAA
CUSIP 44891WAC3
980,803.64 HYUNDAI AUTO RECEIVABLES TRUST 980,765.88 958,490.36 0.63 22,275.52-967.73
ASSET BCKD SEC SER 2022-A CL A3 99.9962 97.7250
DTD 03/16/2022 2.220% 10/15/2026
CALLABLE
CUSIP 448977AD0
148,939.13 HYUNDAI AUTO RECEIVABLES TRUST 148,923.46 146,831.64 0.10 2,091.82-25.15
SER 2021-A CL A3 *0 DAY DELAY*99.9895 98.5850
DTD 04/28/21 0.380 09/15/2025
CUSIP 44933LAC7
918,383.73 HYUNDAI AUTO RECEIVABLES TRUST 895,162.89 893,449.61 0.58 1,713.28-302.05
SER 2021-C CL A3 *0 DAY DELAY*97.4716 97.2850
DTD 11/17/21 0.740 05/15/2026
CUSIP 44935FAD6
429
CC 02-21-2024
429 of 456
PAGE 10
STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF DECEMBER 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED
PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
2,460,000 INTER-AMERICAN DEVEL BK 2,448,733.20 2,280,690.60 1.49 168,042.60- 4,245.21
DTD 04/20/21 0.875 04/20/2026 99.5420 92.7110
MOODY'S RATING AAA
CUSIP 4581X0DV7
2,400,000 INTL BK RECON & DEVELOP 2,388,859.25 2,236,656.00 1.46 152,203.25- 2,100.00
DTD 10/28/20 0.500 10/28/2025 99.5358 93.1940
MOODY'S RATING AAA
CUSIP 459058JL8
2,500,000 INTL FINANCE CORP 2,471,150.00 2,346,975.00 1.53 124,175.00- 4,296.88
DTD 07/16/20 0.375 07/16/2025 98.8460 93.8790
MOODY'S RATING AAA
CUSIP 45950KCT5
380,268.74 JOHN DEERE OWNER TRUST 380,184.62 371,773.54 0.24 8,411.08-392.10
ASSET BCKD SEC SER 2022-A CL A3 99.9779 97.7660
DTD 03/16/2022 2.320% 09/16/2026
NON CALLABLE
MOODY'S RATING AAA
CUSIP 47787JAC2
353,397.32 JOHN DEERE OWNER TRUST 353,365.80 343,827.32 0.22 9,538.48-76.57
SER 2021-B CL A3 *0 DAY DELAY*99.9911 97.2920
DTD 07/21/21 0.520 03/16/2026
MOODY'S RATING AAA
CUSIP 47789QAC4
655,000 JOHN DEERE OWNER TRUST 654,937.45 644,408.65 0.42 10,528.80- 1,088.76
ASSET BCKD SEC SER 2022-B CL A3 99.9905 98.3830
DTD 07/20/2022 3.740% 02/16/2027
NON CALLABLE
MOODY'S RATING AAA
CUSIP 47800AAC4
1,050,000 JOHN DEERE OWNER TRUST 1,049,918.52 1,049,916.00 0.69 2.52- 2,375.33
ASSET BCKD SEC SER 2022-C CL A3 99.9923 99.9920
DTD 10/19/2022 5.090% 06/15/2027
CALLABLE
MOODY'S RATING AAA
CUSIP 47800BAC2
430
CC 02-21-2024
430 of 456
PAGE 11
STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF DECEMBER 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED
PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
655,000 JPMORGAN CHASE &655,406.85 639,686.10 0.42 15,720.75-141.04
SER F2F 100.0621 97.6620
DTD 06/23/21 06/23/2025
MOODY'S RATING A1
CUSIP 46647PCK0
401,000 JPMORGAN CHASE & CO 415,969.33 384,097.85 0.25 31,871.48- 1,600.96
DTD 04/22/20 04/22/2026 103.7330 95.7850
MOODY'S RATING A1
CUSIP 46647PBK1
1,370,000 JPMORGAN CHASE & CO 1,371,773.90 1,340,668.30 0.88 31,105.60-940.73
DTD 06/01/21 06/01/2025 100.1295 97.8590
MOODY'S RATING A1
CUSIP 46647PCH7
1,000,000 MASSMUTUAL GLOBAL FUNDIN 1,002,230.00 912,890.00 0.60 89,340.00- 5,500.00
144A PRIV PLCMT 1.200 07/16/2026 100.2230 91.2890
MOODY'S RATING AA3
CUSIP 57629WDE7
945,000 MASTERCARD INC 944,083.35 974,039.85 0.64 29,956.50 14,332.50
DTD 03/09/2023 4.875% 03/09/2028 99.9030 103.0730
CALLABLE
MOODY'S RATING AA3
CUSIP 57636QAW4
1,100,000 MERCEDES-BENZ AUTO RECEIVABLES TRUST 1,123,289.06 1,131,075.00 0.74 7,785.94 2,908.89
ASSET BCKD SEC SER 2023-2 CL A3 102.1172 102.8250
DTD 10/25/2023 5.950% 11/15/2028
CALLABLE
CUSIP 58769FAC9
1,115,000 MET LIFE GLOB FUNDING I 1,113,728.90 1,018,151.10 0.66 95,577.80- 9,872.40
144A PRIV PLCMT 1.875 01/11/2027 99.8860 91.3140
MOODY'S RATING AA3
CUSIP 59217GER6
431
CC 02-21-2024
431 of 456
PAGE 12
STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF DECEMBER 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED
PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
770,000 MET TOWER GLOBAL FUNDING 769,291.60 700,392.00 0.46 68,899.60- 2,860.76
144A PRIV PLCMT 1.250 09/14/2026 99.9080 90.9600
MOODY'S RATING AA3
CUSIP 58989V2D5
650,000 MORGAN STANLEY 615,699.50 624,429.00 0.41 8,729.50 2,488.85
DTD 04/28/20 04/28/2026 94.7230 96.0660
MOODY'S RATING A1
CUSIP 6174468Q5
1,000,000 MORGAN STANLEY BK 1,000,082.50 1,028,230.00 0.67 28,147.50 9,803.33
DTD 11/01/2023 5.882% 10/30/2026 100.0083 102.8230
CALLABLE
MOODY'S RATING AA3
CUSIP 61690U7W4
1,680,000 NEW YORK LIFE GLOBAL FDG 1,678,185.60 1,617,907.20 1.06 60,278.40- 11,300.33
144A PRIV PLCMT 1.450 01/14/2025 99.8920 96.3040
MOODY'S RATING AAA
CUSIP 64952WEK5
670,000 NORTHERN TRUST CORP 668,914.60 660,934.90 0.43 7,979.70- 3,796.67
DTD 05/10/2022 4.000% 05/10/2027 99.8380 98.6470
CALLABLE
MOODY'S RATING A2
CUSIP 665859AW4
850,000 NORTHWESTERN MUTUAL GLBL 827,449.50 785,884.50 0.51 41,565.00- 3,154.44
144A PRIV PLCMT 0.800 01/14/2026 97.3470 92.4570
MOODY'S RATING AAA
CUSIP 66815L2A6
1,170,000 NORTHWESTERN MUTUAL GLBL 1,169,602.20 1,159,306.20 0.76 10,296.00- 23,400.00
DTD 07/01/2022 4.000% 07/01/2025 99.9660 99.0860
NON CALLABLE
144A PRIVATE PLACEMENT
MOODY'S RATING AAA
CUSIP 66815L2J7
432
CC 02-21-2024
432 of 456
PAGE 13
STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF DECEMBER 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED
PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
370,000 PACCAR FINANCIAL CORP 369,182.30 362,600.00 0.24 6,582.30- 3,005.22
MED TERM NOTE 99.7790 98.0000
DTD 08/15/19 2.150 08/15/2024
MOODY'S RATING A1
CUSIP 69371RQ25
680,000 PACCAR FINANCIAL CORP 679,632.80 660,021.60 0.43 19,611.20- 1,341.11
MED TERM NOTE 99.9460 97.0620
DTD 08/09/21 0.500 08/09/2024
MOODY'S RATING A1
CUSIP 69371RR40
885,000 PACCAR FINANCIAL CORP 884,769.90 864,822.00 0.56 19,947.90- 5,885.25
MEDIUM TERM NOTE 99.9740 97.7200
DTD 04/07/2022 2.850% 04/07/2025
NON CALLABLE
MOODY'S RATING A1
CUSIP 69371RR73
904,000 PRICOA GLOBAL FUNDING 1 832,972.72 843,856.88 0.55 10,884.16 2,410.67
144A PRIV PLCMT 0.800 09/01/2025 92.1430 93.3470
MOODY'S RATING AA3
CUSIP 74153WCM9
885,000 PRICOA GLOBAL FUNDING 1 884,088.45 850,670.85 0.56 33,417.60-706.77
144A PRIV PLCMT 1.150 12/06/2024 99.8970 96.1210
MOODY'S RATING AA3
CUSIP 74153WCQ0
1,500,000 ROYAL BANK OF CANADA 1,533,359.18 1,477,050.00 0.96 56,309.18- 17,531.25
DTD 07/16/19 2.550 07/16/2024 102.2240 98.4700
MOODY'S RATING A1
CUSIP 78013XZU5
1,050,000 ROYAL BANK OF CANADA 1,049,611.50 1,028,632.50 0.67 20,979.00- 7,579.69
MEDIUM TERM NOTE 99.9630 97.9650
CONVERTIBLE
DTD 04/14/2022 3.375% 04/14/2025
NON CALLABLE
MOODY'S RATING A1
CUSIP 78016EZ59
433
CC 02-21-2024
433 of 456
PAGE 14
STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF DECEMBER 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED
PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
1,760,000 SALESFORCE.COM INC 1,748,937.40 1,715,630.40 1.12 33,307.00- 5,072.22
DTD 07/12/21 0.625 07/15/2024 99.3715 97.4790
MOODY'S RATING A2
CUSIP 79466LAG9
1,500,000 TORONTO-DOMINION BANK 1,527,255.00 1,481,220.00 0.97 46,035.00- 2,097.92
MED TERM NOTE 101.8170 98.7480
DTD 06/12/19 2.650 06/12/2024
MOODY'S RATING A1
CUSIP 89114QCA4
700,000 TORONTO-DOMINION BANK 674,737.00 674,576.00 0.44 161.00- 4,821.25
MED TERM NOTE SER FXD 96.3910 96.3680
DTD 01/12/22 1.450 01/10/2025
MOODY'S RATING A1
CUSIP 89114TZL9
1,300,000 TOYOTA AUTO RECEIVABLES OWNER 1,294,718.75 1,309,191.00 0.85 14,472.25 2,981.33
ASSET BCKD SEC SER 2023-C CL A3 99.5938 100.7070
DTD 08/15/2023 5.160% 04/17/2028
CALLABLE
CUSIP 89231FAD2
304,187.35 TOYOTA AUTO RECEIVABLES OWNER 304,180.86 295,156.03 0.19 9,024.83-95.99
SER 2021-D CL A3 *0 DAY DELAY*99.9979 97.0310
DTD 11/15/21 0.710 04/15/2026
CUSIP 89238JAC9
187,097.99 TOYOTA AUTO RECEIVABLES OWNER 187,063.27 185,026.82 0.12 2,036.45-21.62
SER 2021-A CL A3 *0 DAY DELAY*99.9815 98.8930
DTD 02/08/21 0.260 05/15/2025
MOODY'S RATING AAA
CUSIP 89240BAC2
697,356.13 TOYOTA LEASE OWNER TRUST 697,246.36 692,181.75 0.45 5,064.61-417.64
ASSET BCKD SEC SER 2022-A CL A3 99.9843 99.2580
DTD 02/28/2022 1.960% 02/20/2025
CALLABLE
144A PRIVATE PLACEMENT
CUSIP 89238LAC4
434
CC 02-21-2024
434 of 456
PAGE 15
STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF DECEMBER 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED
PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
1,385,000 TOYOTA MOTOR CREDIT CORP 1,384,390.60 1,278,909.00 0.83 105,481.60-562.66
MED TERM NOTE 99.9560 92.3400
DTD 06/18/21 1.125 06/18/2026
MOODY'S RATING A1
CUSIP 89236TJK2
1,215,000 TOYOTA MOTOR CREDIT CORP 1,213,371.90 1,172,511.45 0.77 40,860.45- 8,221.50
DTD 01/13/22 1.450 01/13/2025 99.8660 96.5030
MOODY'S RATING A1
CUSIP 89236TJT3
3,100,000 UNITED STATES TREASURY NOTES 3,057,617.20 2,995,499.00 1.96 62,118.20- 16,096.15
DTD 03/15/2022 1.750% 03/15/2025 98.6328 96.6290
MOODY'S RATING AAA
CUSIP 91282CED9
3,250,000 UNITED STATES TREASURY NOTES 3,260,312.50 3,175,997.50 2.07 84,315.00- 53,102.68
DTD 06/30/2022 3.250% 06/30/2027 100.3173 97.7230
MOODY'S RATING AAA
CUSIP 91282CEW7
400,000 UNITED STATES TREASURY NOTES 393,218.75 383,968.00 0.25 9,250.75- 4,603.26
DTD 07/31/2022 2.750% 07/31/2027 98.3047 95.9920
MOODY'S RATING AAA
CUSIP 91282CFB2
4,500,000 UNITED STATES TREASURY NOTES 4,468,902.34 4,373,460.00 2.86 95,442.34- 47,518.89
DTD 08/31/2022 3.125% 08/31/2027 99.3090 97.1880
MOODY'S RATING AAA
CUSIP 91282CFH9
3,450,000 UNITED STATES TREASURY NOTES 3,421,152.34 3,471,838.50 2.27 50,686.16 36,161.37
DTD 09/30/2022 4.125% 09/30/2027 99.1639 100.6330
MOODY'S RATING AAA
CUSIP 91282CFM8
850,000 UNITED STATES TREASURY NOTES 852,656.25 848,206.50 0.55 4,449.75- 2,879.78
DTD 11/30/2022 3.875% 11/30/2027 100.3125 99.7890
MOODY'S RATING AAA
CUSIP 91282CFZ9
435
CC 02-21-2024
435 of 456
PAGE 16
STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF DECEMBER 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED
PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
2,750,000 UNITED STATES TREASURY NOTES 2,775,107.42 2,745,490.00 1.79 29,617.42- 53,574.00
DTD 12/31/2022 3.875% 12/31/2027 100.9130 99.8360
MOODY'S RATING AAA
CUSIP 91282CGC9
3,000,000 UNITED STATES TREASURY NOTES 2,957,929.69 2,952,660.00 1.93 5,269.69- 43,940.22
DTD 01/31/2023 3.500% 01/31/2028 98.5977 98.4220
MOODY'S RATING AAA
CUSIP 91282CGH8
3,700,000 UNITED STATES TREASURY NOTES 3,699,113.28 3,712,136.00 2.42 13,022.72 50,010.99
DTD 02/28/2023 4.000% 02/29/2028 99.9760 100.3280
MOODY'S RATING AAA
CUSIP 91282CGP0
2,500,000 UNITED STATES TREASURY NOTES 2,525,097.66 2,524,425.00 1.65 672.66- 5,080.26
DTD 12/15/2023 4.375% 12/15/2026 101.0039 100.9770
MOODY'S RATING AAA
CUSIP 91282CJP7
1,035,000 UNITEDHEALTH GROUP INC 1,025,051.35 958,120.20 0.63 66,931.15- 1,520.88
DTD 05/19/21 1.150 05/15/2026 99.0388 92.5720
MOODY'S RATING A2
CUSIP 91324PEC2
675,000 UNITEDHEALTH GROUP INC 675,316.70 661,007.25 0.43 14,309.45- 3,191.25
DTD 05/20/2022 3.700% 05/15/2027 100.0469 97.9270
CALLABLE
MOODY'S RATING A2
CUSIP 91324PEG3
1,250,000 US BANCORP 1,268,262.50 1,228,387.50 0.80 39,875.00- 12,583.33
DTD 07/29/19 2.400 07/30/2024 101.4610 98.2710
MOODY'S RATING A3
CUSIP 91159HHX1
1,500,000 US TREASURY NOTE 1,469,765.63 1,404,780.00 0.92 64,985.63- 1,569.29
DTD 07/31/20 0.250 07/31/2025 97.9844 93.6520
MOODY'S RATING AAA
CUSIP 91282CAB7
436
CC 02-21-2024
436 of 456
PAGE 17
STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF DECEMBER 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED
PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
2,400,000 US TREASURY NOTE 2,366,140.63 2,235,000.00 1.46 131,140.63- 1,524.59
DTD 09/30/20 0.250 09/30/2025 98.5892 93.1250
MOODY'S RATING AAA
CUSIP 91282CAM3
2,450,000 US TREASURY NOTE 2,422,492.19 2,275,731.50 1.49 146,760.69- 1,043.27
DTD 10/31/20 0.250 10/31/2025 98.8772 92.8870
MOODY'S RATING AAA
CUSIP 91282CAT8
2,250,000 US TREASURY NOTE 2,209,658.20 2,089,417.50 1.36 120,240.70-737.70
DTD 11/30/20 0.375 11/30/2025 98.2070 92.8630
MOODY'S RATING AAA
CUSIP 91282CAZ4
2,500,000 US TREASURY NOTE 2,456,445.31 2,309,775.00 1.51 146,670.31- 3,923.23
DTD 02/01/21 0.375 01/31/2026 98.2578 92.3910
MOODY'S RATING AAA
CUSIP 91282CBH3
2,500,000 US TREASURY NOTE 2,493,652.34 2,312,900.00 1.51 180,752.34- 3,193.68
DTD 04/30/21 0.750 04/30/2026 99.7461 92.5160
MOODY'S RATING AAA
CUSIP 91282CBW0
1,400,000 US TREASURY NOTE 1,379,054.68 1,285,872.00 0.84 93,182.68- 3,112.70
DTD 09/30/21 0.875 09/30/2026 98.5039 91.8480
MOODY'S RATING AAA
CUSIP 91282CCZ2
1,400,000 US TREASURY NOTE 1,391,468.75 1,291,878.00 0.84 99,590.75- 2,682.69
DTD 11/01/21 1.125 10/31/2026 99.3906 92.2770
CUSIP 91282CDG3
1,700,000 US TREASURY NOTE 1,753,191.41 1,672,239.00 1.09 80,952.41- 15,250.34
DTD 08/15/14 2.375 08/15/2024 103.1289 98.3670
MOODY'S RATING AAA
CUSIP 912828D56
437
CC 02-21-2024
437 of 456
PAGE 18
STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF DECEMBER 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED
PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
2,000,000 US TREASURY NOTE 2,018,574.22 1,968,820.00 1.29 49,754.22- 20,109.89
DTD 06/30/17 2.000 06/30/2024 100.9287 98.4410
MOODY'S RATING AAA
CUSIP 912828XX3
1,700,000 US TREASURY NOTE 1,705,976.56 1,682,201.00 1.10 23,775.56- 5,791.21
DTD 05/01/17 2.000 04/30/2024 100.3516 98.9530
MOODY'S RATING AAA
CUSIP 912828X70
2,100,000 US TREASURY NOTE 2,087,203.13 2,038,029.00 1.33 49,174.13- 18,475.96
DTD 12/31/19 1.750 12/31/2024 99.3906 97.0490
CUSIP 912828YY0
1,500,000 US TREASURY NOTE 1,523,144.53 1,440,765.00 0.94 82,379.53- 5,777.85
DTD 03/02/20 1.125 02/28/2025 101.5430 96.0510
MOODY'S RATING AAA
CUSIP 912828ZC7
2,500,000 US TREASURY NOTE 2,360,839.85 2,365,825.00 1.54 4,985.15 1,596.84
DTD 04/30/20 0.375 04/30/2025 94.4336 94.6330
MOODY'S RATING AAA
CUSIP 912828ZL7
570,000 VERIZON MASTER TRUST 569,974.92 569,441.40 0.37 533.52-647.90
ASSET BCKD SEC SER 2022-5 CL A1A 99.9956 99.9020
DTD 08/11/2022 VAR CPN 07/20/2027
CALLABLE
CUSIP 92348KAV5
350,000 WALMART INC 349,338.50 321,583.50 0.21 27,755.00- 1,061.67
DTD 09/17/21 1.050 09/17/2026 99.8110 91.8810
MOODY'S RATING AA2
CUSIP 931142ER0
======================================================================================================================================
TOTAL BOND & NOTES 155,342,314.38 149,994,556.45 97.92 5,347,757.93- 786,651.51
438
CC 02-21-2024
438 of 456
PAGE 19
STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF DECEMBER 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED
PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
======================================================================================================================================
TOTAL INVESTMENTS 158,466,177.24 153,179,892.21 100.00 5,286,285.03- 789,741.52
TOTAL ACCRUALS 789,741.52 789,741.52
======================================================================================================================================
TOTAL ACCRUALS AND INVESTMENTS 159,255,918.76 153,969,633.73
439
CC 02-21-2024
439 of 456
PAGE 20
CASH SUMMARY CITY OF CUPERTINO
FOR THE PERIOD DECEMBER 1, 2023 THROUGH DECEMBER 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
CASH SUMMARY
DESCRIPTION PRINCIPAL CASH INCOME CASH
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
BEGINNING BALANCE 0.00 0.00
RECEIPTS
NET INTEREST COLLECTED 0.00 175,688.00
TRANSFER RECEIPTS 179,871.74 0.00
SALES 3,119,402.51 0.00
CASH MANAGEMENT SALES 2,809,306.97 0.00
TOTAL CASH RECEIPTS 6,108,581.22 175,688.00
DISBURSEMENTS
INVESTMENT MANAGEMENT EXPENSES 9,233.26-0.00
TRANSFER DISBURSEMENTS 0.00 179,871.74-
PURCHASES 3,648,386.72-0.00
CASH MANAGEMENT PURCHASES 2,446,777.50-0.00
TOTAL CASH DISBURSEMENTS 6,104,397.48-179,871.74-
========================================================================================================================================
ENDING BALANCE 4,183.74 4,183.74-
________________________________________________________________________________________________________________________________________
440
CC 02-21-2024
440 of 456
PAGE 21
STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD DECEMBER 1, 2023 THROUGH DECEMBER 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF TRANSACTIONS
REALIZED
DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
BEGINNING BALANCE 0.00 158,297,260.16
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
CASH EQUIVALENTS
12/01/23 INTEREST RECEIVED 4,819.39
AS 100% TREAS MM FD-SVC CL #008
INTEREST FROM 11/1/23 TO 11/30/23
12/01/23 INTEREST RECEIVED 117.69
PRINCIPAL PUBLIC DEPOSIT SWEEP PRGRM
INTEREST FROM 11/1/23 TO 11/30/23
12/28/23 1,500,000- MATURED 1,460,358.13 1,460,358.13-
U.S. TREASURY BILLS 12/28/23
CUSIP 912796ZN2
AT $100.0000 ON TRADE DATE 12/28/2023
12/28/23 INTEREST RECEIVED 39,641.87
U.S. TREASURY BILLS 12/28/23
CUSIP 912796ZN2
INTEREST ON 1,500,000.000 UNITS
1,500,000 PAR VALUE AT 100 %
12/31/23 2,446,659.81 CASH SWEEP PURCHASES FOR STMT PERIOD 2,446,659.81- 2,446,659.81
AS 100% TREAS MM FD-SVC CL #008
15 TRANSACTIONS
12/31/23 117.69 CASH SWEEP PURCHASES FOR STMT PERIOD 117.69-117.69
PRINCIPAL PUBLIC DEPOSIT SWEEP PRGRM
1 TRANSACTIONS
12/31/23 2,809,306.97- CASH SWEEP SALES FOR STMT PERIOD 2,809,306.97 2,809,306.97-
AS 100% TREAS MM FD-SVC CL #008
4 TRANSACTIONS
441
CC 02-21-2024
441 of 456
PAGE 22
STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD DECEMBER 1, 2023 THROUGH DECEMBER 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF TRANSACTIONS
REALIZED
DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
BONDS & NOTES
12/15/23 INTEREST RECEIVED 2,845.38
AMERICAN EXPRES ABS 2.210% 3/15/27
CUSIP 02589BAA8
$0.00184/PV ON 1,545,000.00 PV
DUE 12/15/23
12/15/23 INTEREST RECEIVED 3,884.38
AMERICAN EXPRESS ABS 3.390% 5/17/27
CUSIP 02582JJT8
$0.00283/PV ON 1,375,000.00 PV
DUE 12/15/23
12/26/23 8,282.92- PAID DOWN 8,282.92 8,282.06-0.86
BMW VEHICLE LEASE TR 0.330% 12/26/24
CUSIP 09690AAC7
TO SETTLE ON 12/26/2023
12/26/23 INTEREST RECEIVED 2.28
BMW VEHICLE LEASE TR 0.330% 12/26/24
CUSIP 09690AAC7
$0.00001/PV ON 8,282.92 PV
DUE 12/25/23
12/26/23 INTEREST RECEIVED 146.28
BMW VEHICLE LEASE TR 1.100% 3/25/25
CUSIP 05601XAC3
$0.00033/PV ON 159,574.39 PV
DUE 12/25/23
12/26/23 42,572.99- PAID DOWN 42,572.99 42,566.63-6.36
BMW VEHICLE LEASE TR 1.100% 3/25/25
CUSIP 05601XAC3
TO SETTLE ON 12/26/2023
442
CC 02-21-2024
442 of 456
PAGE 23
STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD DECEMBER 1, 2023 THROUGH DECEMBER 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF TRANSACTIONS
REALIZED
DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
12/26/23 INTEREST RECEIVED 1,417.75
BMW VEHICLE OWN ABS 3.210% 8/25/26
CUSIP 05602RAD3
$0.00268/PV ON 530,000.00 PV
DUE 12/25/23
12/27/23 12,568.03- PAID DOWN 12,568.03 12,567.38-0.65
BMW VEHICLE OWN ABS 3.210% 8/25/26
CUSIP 05602RAD3
TO SETTLE ON 12/27/2023
12/14/23 INTEREST RECEIVED 21,562.50
FED HOME LN BK 2.875% 6/14/24
CUSIP 3130A1XJ2
INTEREST ON 1,500,000.000 UNITS
12/04/23 INTEREST RECEIVED 1,068.75
FED HOME LN MTG CORP 0.250% 12/04/23
CUSIP 3137EAFA2
INTEREST ON 855,000.000 UNITS
12/04/23 855,000- MATURED 855,000.00 854,153.55-846.45
FED HOME LN MTG CORP 0.250% 12/04/23
CUSIP 3137EAFA2
AT $100.0000 ON TRADE DATE 12/04/2023
12/26/23 INTEREST RECEIVED 3,406.47
FED HOME LN MTG CORP 3.171% 10/25/24
CUSIP 3137BFE98
$0.00262/PV ON 1,289,110.65 PV
DUE 12/25/23
12/26/23 2,995.84- PAID DOWN 2,995.84 3,222.63-226.79-
FED HOME LN MTG CORP 3.171% 10/25/24
CUSIP 3137BFE98
TO SETTLE ON 12/26/2023
443
CC 02-21-2024
443 of 456
PAGE 24
STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD DECEMBER 1, 2023 THROUGH DECEMBER 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF TRANSACTIONS
REALIZED
DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
12/18/23 INTEREST RECEIVED 6,250.00
FED NATL MTG ASSN 0.500% 6/17/25
CUSIP 3135G04Z3
INTEREST ON 2,500,000.000 UNITS
12/26/23 INTEREST RECEIVED 1,437.04
FHLMC MULTIFAMILY ST 2.653% 8/25/26
CUSIP 3137BSP72
$0.00221/PV ON 650,000.00 PV
DUE 12/25/23
12/26/23 INTEREST RECEIVED 1,422.62
FHLMC MULTIFAMILY ST 2.995% 12/25/25
CUSIP 3137BN6G4
$0.00250/PV ON 570,000.00 PV
DUE 12/25/23
12/26/23 INTEREST RECEIVED 2,508.33
FHLMC MULTIFAMILY ST 3.010% 8/25/25
CUSIP 3137BLMZ8
$0.00251/PV ON 1,000,000.00 PV
DUE 12/25/23
12/26/23 INTEREST RECEIVED 2,703.33
FHLMC MULTIFAMILY ST 3.244% 8/25/27
CUSIP 3137FBBX3
$0.00270/PV ON 1,000,000.00 PV
DUE 12/25/23
12/26/23 INTEREST RECEIVED 1,212.93
FHLMC MULTIFAMILY ST 3.308% 9/25/25
CUSIP 3137BM7C4
$0.00276/PV ON 440,000.00 PV
DUE 12/25/23
444
CC 02-21-2024
444 of 456
PAGE 25
STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD DECEMBER 1, 2023 THROUGH DECEMBER 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF TRANSACTIONS
REALIZED
DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
12/18/23 INTEREST RECEIVED 1,007.50
GM FINANCIAL ABS 3.100% 2/16/27
CUSIP 362585AC5
$0.00258/PV ON 390,000.00 PV
DUE 12/16/23
12/19/23 0.01 SHARE ADJUSTMENT
GM FINANCIAL AUTOMOB 0.390% 10/21/24
CUSIP 36262XAC8
12/20/23 INTEREST RECEIVED 32.40
GM FINANCIAL AUTOMOB 0.390% 10/21/24
CUSIP 36262XAC8
$0.00003/PV ON 99,705.05 PV
DUE 12/20/23
12/20/23 99,705.05- PAID DOWN 99,705.05 99,703.69-1.36
GM FINANCIAL AUTOMOB 0.390% 10/21/24
CUSIP 36262XAC8
AT $484.6460 ON TRADE DATE 12/20/2023
12/20/23 INTEREST RECEIVED 915.49
GM FINANCIAL AUTOMOB 1.850% 3/20/25
CUSIP 36265MAC9
$0.00097/PV ON 578,202.99 PV
DUE 12/20/23
12/20/23 109,507.74- PAID DOWN 109,507.74 109,506.80-0.94
GM FINANCIAL AUTOMOB 1.850% 3/20/25
CUSIP 36265MAC9
AT $441.2624 ON TRADE DATE 12/20/2023
12/18/23 INTEREST RECEIVED 151.86
GM FINANCIAL SECURIT 0.680% 9/16/26
CUSIP 362554AC1
$0.00043/PV ON 267,989.87 PV
DUE 12/16/23
445
CC 02-21-2024
445 of 456
PAGE 26
STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD DECEMBER 1, 2023 THROUGH DECEMBER 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF TRANSACTIONS
REALIZED
DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
12/18/23 15,837.6- PAID DOWN 15,837.60 15,837.20-0.40
GM FINANCIAL SECURIT 0.680% 9/16/26
CUSIP 362554AC1
TO SETTLE ON 12/18/2023
12/18/23 INTEREST RECEIVED 274.13
GM FINANCIAL SECURIT 1.260% 11/16/26
CUSIP 380146AC4
$0.00093/PV ON 261,079.43 PV
DUE 12/16/23
12/18/23 15,063.36- PAID DOWN 15,063.36 15,062.05-1.31
GM FINANCIAL SECURIT 1.260% 11/16/26
CUSIP 380146AC4
TO SETTLE ON 12/18/2023
12/21/23 INTEREST RECEIVED 5,451.86
HONDA AUTO RECE ABS 5.670% 6/21/28
CUSIP 438123AC5
$0.00677/PV ON 805,000.00 PV
DUE 12/21/23
12/21/23 INTEREST RECEIVED 13.39
HONDA AUTO RECEIVABL 0.270% 4/21/25
CUSIP 43813GAC5
$0.00005/PV ON 59,522.37 PV
DUE 12/21/23
12/21/23 10,460.85- PAID DOWN 10,460.85 10,460.66-0.19
HONDA AUTO RECEIVABL 0.270% 4/21/25
CUSIP 43813GAC5
12/18/23 INTEREST RECEIVED 9.17
HONDA AUTO RECEIVABL 0.370% 10/18/24
CUSIP 43813KAC6
$0.00002/PV ON 29,741.01 PV
DUE 12/18/23
446
CC 02-21-2024
446 of 456
PAGE 27
STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD DECEMBER 1, 2023 THROUGH DECEMBER 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF TRANSACTIONS
REALIZED
DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
12/18/23 18,105.31- PAID DOWN 18,105.31 18,102.65-2.66
HONDA AUTO RECEIVABL 0.370% 10/18/24
CUSIP 43813KAC6
12/21/23 INTEREST RECEIVED 252.29
HONDA AUTO RECEIVABL 0.880% 1/21/26
CUSIP 43815GAC3
$0.00055/PV ON 344,032.15 PV
DUE 12/21/23
12/21/23 23,618.13- PAID DOWN 23,618.13 23,613.15-4.98
HONDA AUTO RECEIVABL 0.880% 1/21/26
CUSIP 43815GAC3
12/15/23 INTEREST RECEIVED 1,159.33
HONDA AUTO RECEIVABL 1.000% 5/15/26
CUSIP 43815BAC4
$0.00157/PV ON 740,000.00 PV
DUE 12/15/23
12/15/23 17,831.3- PAID DOWN 17,831.30 17,828.62-2.68
HONDA AUTO RECEIVABL 1.000% 5/15/26
CUSIP 43815BAC4
AT $456.3283 ON TRADE DATE 12/15/2023
12/15/23 INTEREST RECEIVED 274.19
HYUNDAI AUTO LEASE 1.160% 1/15/25
CUSIP 44891WAC3
$0.00051/PV ON 283,648.76 PV
DUE 12/15/23
12/15/23 58,257- PAID DOWN 58,257.00 58,255.71-1.29
HYUNDAI AUTO LEASE 1.160% 1/15/25
CUSIP 44891WAC3
AT $139.6729 ON TRADE DATE 12/15/2023
447
CC 02-21-2024
447 of 456
PAGE 28
STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD DECEMBER 1, 2023 THROUGH DECEMBER 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF TRANSACTIONS
REALIZED
DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
12/15/23 INTEREST RECEIVED 1,868.50
HYUNDAI AUTO REC ABS 2.220% 10/15/26
CUSIP 448977AD0
$0.00185/PV ON 1,010,000.00 PV
DUE 12/15/23
12/15/23 29,196.36- PAID DOWN 29,196.36 29,195.24-1.12
HYUNDAI AUTO REC ABS 2.220% 10/15/26
CUSIP 448977AD0
AT $278.6966 ON TRADE DATE 12/15/2023
12/15/23 INTEREST RECEIVED 54.68
HYUNDAI AUTO RECEIVA 0.380% 9/15/25
CUSIP 44933LAC7
$0.00011/PV ON 172,686.39 PV
DUE 12/15/23
12/15/23 23,747.26- PAID DOWN 23,747.26 23,744.76-2.50
HYUNDAI AUTO RECEIVA 0.380% 9/15/25
CUSIP 44933LAC7
12/15/23 INTEREST RECEIVED 609.71
HYUNDAI AUTO RECEIVA 0.740% 5/15/26
CUSIP 44935FAD6
$0.00046/PV ON 988,717.31 PV
DUE 12/15/23
12/15/23 70,333.58- PAID DOWN 70,333.58 68,555.23-1,778.35
HYUNDAI AUTO RECEIVA 0.740% 5/15/26
CUSIP 44935FAD6
AT $153.8684 ON TRADE DATE 12/15/2023
12/15/23 INTEREST RECEIVED 4,453.75
JOHN DEERE OWNE ABS 5.090% 6/15/27
CUSIP 47800BAC2
$0.00424/PV ON 1,050,000.00 PV
DUE 12/15/23
448
CC 02-21-2024
448 of 456
PAGE 29
STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD DECEMBER 1, 2023 THROUGH DECEMBER 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF TRANSACTIONS
REALIZED
DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
12/15/23 INTEREST RECEIVED 777.76
JOHN DEERE OWNER ABS 2.320% 9/16/26
CUSIP 47787JAC2
$0.00173/PV ON 402,289.78 PV
DUE 12/15/23
12/15/23 22,021.04- PAID DOWN 22,021.04 22,016.17-4.87
JOHN DEERE OWNER ABS 2.320% 9/16/26
CUSIP 47787JAC2
AT $369.5069 ON TRADE DATE 12/15/2023
12/15/23 INTEREST RECEIVED 2,041.42
JOHN DEERE OWNER ABS 3.740% 2/16/27
CUSIP 47800AAC4
$0.00312/PV ON 655,000.00 PV
DUE 12/15/23
12/15/23 INTEREST RECEIVED 162.10
JOHN DEERE OWNER TRU 0.520% 3/16/26
CUSIP 47789QAC4
$0.00028/PV ON 374,083.57 PV
DUE 12/15/23
12/15/23 20,686.25- PAID DOWN 20,686.25 20,684.40-1.85
JOHN DEERE OWNER TRU 0.520% 3/16/26
CUSIP 47789QAC4
12/04/23 1,100,000 PURCHASED 1,123,289.06- 1,123,289.06
MERCEDES-BENZ ABS 5.950% 11/15/28
CUSIP 58769FAC9
AT $102.1172 ON TRADE DATE 11/29/2023
TO SETTLE ON 12/04/2023
MITSUBISHI UFJ SECURITIES (USA
12/04/23 ACCRUED INTEREST ON PURCHASE 3,454.31-
MERCEDES-BENZ ABS 5.950% 11/15/28
CUSIP 58769FAC9
449
CC 02-21-2024
449 of 456
PAGE 30
STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD DECEMBER 1, 2023 THROUGH DECEMBER 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF TRANSACTIONS
REALIZED
DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
12/15/23 INTEREST RECEIVED 5,454.17
MERCEDES-BENZ ABS 5.950% 11/15/28
CUSIP 58769FAC9
$0.00496/PV ON 1,100,000.00 PV
DUE 12/15/23
12/11/23 INTEREST RECEIVED 6,125.00
P/P GUARDIAN LIFE GL 0.875% 12/10/25
CUSIP 40139LBC6
INTEREST ON 1,400,000.000 UNITS
12/06/23 INTEREST RECEIVED 5,088.75
P/P PRICOA GLOBAL FU 1.150% 12/06/24
CUSIP 74153WCQ0
INTEREST ON 885,000.000 UNITS
12/12/23 INTEREST RECEIVED 19,875.00
TORONTO-DOMINION BAN 2.650% 6/12/24
CUSIP 89114QCA4
INTEREST ON 1,500,000.000 UNITS
12/15/23 INTEREST RECEIVED 5,590.00
TOYOTA AUTO REC ABS 5.160% 4/17/28
CUSIP 89231FAD2
$0.00430/PV ON 1,300,000.00 PV
DUE 12/15/23
12/15/23 INTEREST RECEIVED 48.68
TOYOTA AUTO RECEIVAB 0.260% 5/15/25
CUSIP 89240BAC2
$0.00004/PV ON 224,693.89 PV
DUE 12/15/23
12/15/23 37,595.9- PAID DOWN 37,595.90 37,588.92-6.98
TOYOTA AUTO RECEIVAB 0.260% 5/15/25
CUSIP 89240BAC2
AT $216.4312 ON TRADE DATE 12/15/2023
450
CC 02-21-2024
450 of 456
PAGE 31
STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD DECEMBER 1, 2023 THROUGH DECEMBER 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF TRANSACTIONS
REALIZED
DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
12/15/23 INTEREST RECEIVED 2.25
TOYOTA AUTO RECEIVAB 0.350% 1/15/25
CUSIP 89236XAC0
$0.00000/PV ON 7,717.40 PV
DUE 12/15/23
12/15/23 7,717.4- PAID DOWN 7,717.40 7,715.96-1.44
TOYOTA AUTO RECEIVAB 0.350% 1/15/25
CUSIP 89236XAC0
12/15/23 INTEREST RECEIVED 192.87
TOYOTA AUTO RECEIVAB 0.710% 4/15/26
CUSIP 89238JAC9
$0.00045/PV ON 325,983.42 PV
DUE 12/15/23
12/15/23 21,796.07- PAID DOWN 21,796.07 21,795.61-0.46
TOYOTA AUTO RECEIVAB 0.710% 4/15/26
CUSIP 89238JAC9
AT $373.3208 ON TRADE DATE 12/15/2023
12/20/23 INTEREST RECEIVED 1,361.38
TOYOTA LEASE OWN ABS 1.960% 2/20/25
CUSIP 89238LAC4
$0.00118/PV ON 833,500.53 PV
DUE 12/20/23
12/20/23 136,144.4- PAID DOWN 136,144.40 136,122.97-21.43
TOYOTA LEASE OWN ABS 1.960% 2/20/25
CUSIP 89238LAC4
AT $354.9294 ON TRADE DATE 12/20/2023
12/18/23 INTEREST RECEIVED 7,790.63
TOYOTA MOTOR CREDIT 1.125% 6/18/26
CUSIP 89236TJK2
INTEREST ON 1,385,000.000 UNITS
451
CC 02-21-2024
451 of 456
PAGE 32
STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD DECEMBER 1, 2023 THROUGH DECEMBER 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF TRANSACTIONS
REALIZED
DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
12/29/23 2,500,000 PURCHASED 2,525,097.66- 2,525,097.66
U.S. TREASURY NOTES 4.375% 12/15/26
CUSIP 91282CJP7
AT $101.0039 ON TRADE DATE 12/28/2023
TO SETTLE ON 12/29/2023
NOMURA SECURITIES INTERNATIONA
12/29/23 ACCRUED INTEREST ON PURCHASE 4,183.74-
U.S. TREASURY NOTES 4.375% 12/15/26
CUSIP 91282CJP7
12/20/23 INTEREST RECEIVED 1,767.00
VERIZON MAST ABS V-M 3.720% 7/20/27
CUSIP 92348KAV5
$0.00310/PV ON 570,000.00 PV
DUE 12/20/23
12/19/23 INTEREST RECEIVED 4,616.50
VR BANK OF AMERICA 1.319% 6/19/26
CUSIP 06051GJD2
INTEREST ON 700,000.000 UNITS
12/26/23 INTEREST RECEIVED 2,639.42
VR FHLMC MULTIFAMI 3.334% 8/25/25
CUSIP 3137BLW95
$0.00278/PV ON 950,000.00 PV
DUE 12/25/23
12/01/23 INTEREST RECEIVED 5,644.40
VR JPMORGAN CHASE & 0.824% 6/01/25
CUSIP 46647PCH7
INTEREST ON 1,370,000.000 UNITS
12/26/23 INTEREST RECEIVED 3,173.48
VR JPMORGAN CHASE & 0.969% 6/23/25
CUSIP 46647PCK0
INTEREST ON 655,000.000 UNITS
452
CC 02-21-2024
452 of 456
PAGE 33
STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD DECEMBER 1, 2023 THROUGH DECEMBER 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF TRANSACTIONS
REALIZED
DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
TRANSFER RECEIPTS
12/01/23 ADDITION TO ACCOUNT 10,581.48
TRANSFER FROM INCOME
12/06/23 ADDITION TO ACCOUNT 2,703.19
TRANSFER FROM INCOME
12/11/23 ADDITION TO ACCOUNT 6,125.00
TRANSFER FROM INCOME
12/12/23 ADDITION TO ACCOUNT 19,875.00
TRANSFER FROM INCOME
12/14/23 ADDITION TO ACCOUNT 21,562.50
TRANSFER FROM INCOME
12/15/23 ADDITION TO ACCOUNT 29,419.17
TRANSFER FROM INCOME
12/18/23 ADDITION TO ACCOUNT 14,323.93
TRANSFER FROM INCOME
12/19/23 ADDITION TO ACCOUNT 5,775.86
TRANSFER FROM INCOME
12/20/23 ADDITION TO ACCOUNT 4,076.27
TRANSFER FROM INCOME
12/21/23 ADDITION TO ACCOUNT 5,717.54
TRANSFER FROM INCOME
12/26/23 ADDITION TO ACCOUNT 20,069.93
TRANSFER FROM INCOME
453
CC 02-21-2024
453 of 456
INVESTMENT AND INSURANCE PRODUCTS ARE:
·NOT INSURED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC) OR ANY FEDERAL GOVERNMENT AGENCY
·NOT A DEPOSIT, OBLIGATION OF, OR GUARANTEED BY ANY BANK OR BANKING AFFILIATE
·SUBJECT TO INVESTMENT RISKS AND MAY LOSE VALUE, INCLUDING POSSIBLE LOSS OF PRINCIPAL AMOUNT INVESTED
PAGE 34
STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD DECEMBER 1, 2023 THROUGH DECEMBER 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF TRANSACTIONS
REALIZED
DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
12/28/23 ADDITION TO ACCOUNT 39,641.87
TRANSFER FROM INCOME
INVESTMENT MANAGEMENT EXPENSES
12/06/23 INVESTMENT MGMT FEE 9,233.26-
PAID TO CHANDLER ASSET MANAGEMENT INC
INV 2311CUPERTIN PRD
11/1/23-11/30/23
TRANSFER DISBURSEMENTS
12/01/23 TRANSFER TO PRINCIPAL 10,581.48-
12/06/23 TRANSFER TO PRINCIPAL 2,703.19-
12/11/23 TRANSFER TO PRINCIPAL 6,125.00-
12/12/23 TRANSFER TO PRINCIPAL 19,875.00-
12/14/23 TRANSFER TO PRINCIPAL 21,562.50-
12/15/23 TRANSFER TO PRINCIPAL 29,419.17-
12/18/23 TRANSFER TO PRINCIPAL 14,323.93-
12/19/23 TRANSFER TO PRINCIPAL 5,775.86-
12/20/23 TRANSFER TO PRINCIPAL 4,076.27-
12/21/23 TRANSFER TO PRINCIPAL 5,717.54-
12/26/23 TRANSFER TO PRINCIPAL 20,069.93-
12/28/23 TRANSFER TO PRINCIPAL 39,641.87-
=================================================================================================================
ENDING BALANCE 0.00 158,466,177.24
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
454
CC 02-21-2024
454 of 456
CITY OF CUPERTINO
PARS Post-Employment Benefits Trust 12/1/2023 to 12/31/2023
Kristina Alfaro
Director of Administrative Services
City of Cupertino
10300 Torre Ave.
Cupertino, CA 95014
Account Summary
Source 12/1/2023 Contributions Earnings Expenses Distributions Transfers 12/31/2023
OPEB 1001 $35,165,170.39 $0.00 $1,916,805.62 $10,099.55 $0.00 $0.00 $37,071,876.46
PENSION 1002 $19,340,293.30 $0.00 $1,054,271.62 $5,554.59 $0.00 $0.00 $20,389,010.33
Totals $54,505,463.69 $0.00 $2,971,077.24 $15,654.14 $0.00 $0.00 $57,460,886.79
Investment Selection
Source
OPEB
PENSION
Investment Objective
Source
OPEB
PENSION
Investment Return
Source 1-Month 3-Months 1-Year 3-Years 5-Years 10-Years
OPEB 5.45%10.30%17.61%2.26%7.92%5.64%6/21/2010
PENSION 5.45%10.30%17.61%2.21%--3/26/2019
Information as provided by US Bank, Trustee for PARS; Not FDIC Insured; No Bank Guarantee; May Lose Value
Headquarters - 4350 Von Karman Ave., Suite 100, Newport Beach, CA 92660 800.540.6369 Fax 949.250.1250 www.pars.org
Account balances are inclusive of Trust Administration, Trustee and Investment Management fees
Annualized Return
Investment Return: Annualized rate of return is the return on an investment over a period other than one year multiplied or divided to give a comparable one-year return.
Past performance does not guarantee future results. Performance returns may not reflect the deduction of applicable fees, which could reduce returns. Information is deemed reliable but may be subject to change.
Individual account based on US Bank Balanced MM. Dual goals are to provide a moderate amount of current income with moderate capital growth.
Income production and longer term growth of capital.
Account Report for the Period
Balance as of
City of Cupertino - OPEB
Balance as of
Individual account based on US Bank Balanced MM. Dual goals are to provide a moderate amount of current income with moderate capital growth.
Income production and longer term growth of capital.
City of Cupertino - PEN
Plan's Inception Date
455
CC 02-21-2024
455 of 456
1/10/24, 1 35 PM LAIF Regular Monthly Statement
https //laifms treasurer ca gov/RegularStatement aspx 1/1
Local Agency Investment Fund
P.O. Box 942809
Sacramento, CA 94209-0001
(916) 653-3001
January 10, 2024
LAIF Home
PMIA Average Monthly
Yields
CITY OF CUPERTINO
FINANCE MANAGER
10300 TORRE AVENUE
CUPERTINO, CA 95014
Account Number:
December 2023 Statement
Tran Type Definitions
Account Summary
Total Deposit:0.00 Beginning Balance:21,787,939.00
Total Withdrawal:0.00 Ending Balance:21,787,939.00
456
CC 02-21-2024
456 of 456