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06 June 10, 2020 CommissionRIVERSIDE COUNTY TRANSPORTATION COMMISSION MEETING AGENDA TIME/DATE: 9:30 a.m. / Wednesday, June 10, 2020 LOCATION: BOARD ROOM County of Riverside Administrative Center 4080 Lemon Street, First Floor, Riverside Pursuant to Governor Newsom's Executive Order N-29-20, (March 18, 2020), the Governing Board meeting will be conducted via teleconference in addition to in -person. Due to the COVID-19 pandemic, the Riverside County Transportation Commission will permit public comments via teleconference. Please visit https://countyofriverside.us/ConstituentSpeakingRequest.aspx to complete an ecomment/speaker slip and receive further instructions to participate via teleconference. COMMISSIONERS Chair— Ben J. Benoit Vice Chair —Jan Harnik Second Vice Chair—V. Manuel Perez Kevin Jeffries, County of Riverside, District 1 Karen Spiegel, County of Riverside, District 2 Chuck Washington, County of Riverside, District 3 V. Manuel Perez, County of Riverside, District 4 Jeff Hewitt, County of Riverside, District 5 Art Welch / Daniela Andrade, City of Banning Lloyd White / Julio Martinez, City of Beaumont Joseph DeConinck / Johnny Rodriguez, City of Blythe Larry Smith / Linda Molina, City of Calimesa Randall Bonner / Jeremy Smith, City of Canyon Lake Raymond Gregory / Mark Carnevale, City of Cathedral City Steven Hernandez / Megan Beaman Jacinto, City of Coachella Wes Speake / Jim Steiner, City of Corona Scott Matas / Russell Betts, City of Desert Hot Springs Clint Lorimore / Todd Rigby, City of Eastvale Linda Krupa / Russ Brown, City of Hemet Dana Reed / Kimberly Muzik, City of Indian Wells Waymond Fermon / Oscar Ortiz, City of Indio Brian Berkson / Chris Barajas, City of Jurupa Valley Kathleen Fitzpatrick / Robert Radi, City of La Quinta Bob Magee / Natasha Johnson, City of Lake Elsinore Bill Zimmerman / Dean Deines, City of Menifee Yxstain Gutierrez / Carla Thornton, City of Moreno Valley Scott Vinton / Christi White, City of Murrieta Berwin Hanna / Ted Hoffman, City of Norco Jan Harnik / Kathleen Kelly, City of Palm Desert Lisa Middleton / Dennis Woods, City of Palm Springs Michael M. Vargas / Rita Rogers, City of Perris Ted Weill / Charles Townsend, City of Rancho Mirage Rusty Bailey / Andy Melendrez, City of Riverside Andrew Kotyuk / Russ Utz, City of San Jacinto Michael S. Naggar / Maryann Edwards, City of Temecula Ben J. Benoit / Joseph Morabito, City of Wildomar Mike Beauchamp, Governor's Appointee Caltrans District 8 Comments are welcomed by the Commission. If you wish to provide comments to the Commission, please complete and submit a Speaker Card to the Clerk of the Board. RIVERSIDE COUNTY TRANSPORTATION COMMISSION www.rctc.org MEETING AGENDA * *Actions may be taken on any item listed on the agenda BOARD ROOM County of Riverside Administrative Center 4080 Lemon Street, First Floor, Riverside, California 9:30 a.m. Wednesday, June 10, 2020 Pursuant to Governor Newsom's Executive Order N-29-20, (March 18, 2020), the Governing Board meeting will be conducted via teleconference in addition to in -person. Due to the COVID-19 pandemic, the Riverside County Transportation Commission will permit public comments via teleconference. Please visit https://countyofriverside.us/ConstituentSpeakingRequest.aspx to complete an ecomment/speaker slip and receive further instructions to participate via teleconference. For members of the public wishing to submit written comments, please email comments to the Clerk of the Board at Imobley@rctc.org prior to June 9, 2020 and your comments will be made part of the official record of proceedings. In compliance with the Brown Act and Government Code Section 54957.5, agenda materials distributed 72 hours prior to the meeting, which are public records relating to open session agenda items, will be available for inspection by members of the public prior to the meeting on the Commission's website, www.rctc.org. In compliance with the Americans with Disabilities Act, Government Code Section 54954.2, Executive Order N-29-20, and the Federal Transit Administration Title VI, please contact the Clerk of the Board at (951) 787-7141 if special assistance is needed to participate in a Commission meeting, including accessibility and translation services. Assistance is provided free of charge. Notification of at least 48 hours prior to the meeting time will assist staff in assuring reasonable arrangements can be made to provide assistance at the meeting. 1. CALL TO ORDER 2. ROLL CALL 3. PUBLIC COMMENTS — Under the Brown Act, the Commission should not take action on or discuss matters raised during public comment portion of the agenda that are not listed on the agenda. Commission members may refer such matters to staff for factual information or to be placed on the subsequent agenda for consideration. 4. ADDITIONS / REVISIONS — The Commission may add an item to the Agenda after making a finding that there is a need to take immediate action on the item and that the item came to the attention of the Commission subsequent to the posting of the agenda. An action adding an item to the agenda requires 2/3 vote of the Commission. If there are less than 2/3 of the Commission members present, adding an item to the agenda requires a unanimous vote. Added items will be placed for discussion at the end of the agenda. Riverside County Transportation Commission Meeting Agenda June 10, 2020 Page 2 5. PUBLIC HEARING — PROPOSED BUDGET FOR FISCAL YEAR 2020/21 Overview This item is for the Commission to: Page 1 1) Conduct the public hearing on the proposed Budget for FY 2020/21; 2) Approve the salary schedule effective July 2, 2020, located in Appendix B of the proposed budget; 3) Authorize the expenditure of $1.2 million of 91 Express Lanes toll revenues designated as surplus in accordance with the 2013 Toll Revenue Bonds Indenture to fund Commission costs related to the development of agreements related to the funding, construction, operations, maintenance, and use of toll revenues for the future direct, tolled connector linking the SR-241 toll road to the 91 Express Lanes (241/91 connector); and 4) Adopt the proposed Budget for FY 2020/21. 6. PUBLIC HEARING —15 EXPRESS LANES TOLL SCHEDULE ADOPTION Overview This item is for the Commission to: Page 150 1) Approve Resolution No. 20-008, "Resolution of the Riverside County Transportation Commission Adopting the 15 Express Lanes Toll Schedule" and 2) Forward to the Commission to conduct a public hearing at its June 10, 2020 meeting and take final action. 7. CONSENT CALENDAR — All matters on the Consent Calendar will be approved in a single motion unless a Commissioner(s) requests separate action on specific item(s). Items pulled from the Consent Calendar will be placed for discussion at the end of the agenda. 7A. APPROVAL OF MINUTES — MAY 13, 2020 7B. APPROPRIATIONS LIMIT FOR FY 2020/21 Overview Page 202 Page 210 This item is for the Commission to adopt Resolution No. 20-009 "Resolution of the Riverside County Transportation Commission Establishing the Annual Appropriations Limit", for Fiscal Year 2020/21. Riverside County Transportation Commission Meeting Agenda June 10, 2020 Page 3 7C. QUARTERLY INVESTMENT REPORT Page 217 Overview This item is for the Commission to receive and file the Quarterly Investment Report for the quarter ended March 31, 2020. 7D. QUARTERLY FINANCIAL STATEMENTS Overview This item is for the Commission to receive and file the Quarterly Financial Statements for the nine months ended March 31, 2020. 7E. RECURRING CONTRACTS FOR FISCAL YEAR 2020/21 Overview This item is for the Commission to: Page 321 Page 331 1) Approve the single -year recurring contracts in an amount not to exceed $18,181,500 for Fiscal Year 2020/21; 2) Approve the recurring contracts for specialized services in an amount not to exceed $110,830 in FY 2020/21 and $456,170 in FYs 2021/22 — 2024/25; and 3) Authorize the Chair or Executive Director, pursuant to legal counsel review, to execute the agreements on behalf of the Commission. 7F. QUARTERLY PUBLIC ENGAGEMENT METRICS REPORT, JANUARY-MARCH 2020 Page 341 Overview This item is for the Commission to receive and file the Quarterly Public Engagement Metrics Report for January -March 2020. 7G. STATE AND FEDERAL LEGISLATIVE UPDATE Overview This item is for the Commission to receive and file an update on state and federal legislation. Page 347 Riverside County Transportation Commission Meeting Agenda June 10, 2020 Page 4 7H. CITY OF CANYON LAKE'S REQUEST TO CONVERT FEDERAL SURFACE TRANSPORTATION BLOCK GRANT TO LOCAL MEASURE A REGIONAL ARTERIAL FUNDS FOR THE RAILROAD CANYON ROAD PAVEMENT REHABILITATION PROJECT Page 357 Overview This item is for the Commission to: 1) Approve the city of Canyon Lake's (Canyon Lake) request for conversion of federal Surface Transportation Block Grant (STBG) funds to local 2009 Measure A Western County Regional Arterial (MARA) funds to the Railroad Canyon Road Pavement Rehabilitation Project (Project); and 2) Authorize the Chief Financial Officer to reimburse Canyon Lake upon presentation of invoices associated with the Project. 71. AGREEMENTS FOR ON -CALL MAINTENANCE AND REPAIR SERVICES FOR THE COMMUTER RAIL STATIONS AND TOLL FACILITIES Overview This item is for the Commission to: Page 360 1) Award the following agreements to provide on -call repair, maintenance and minor construction services for the commuter rail stations and toll facilities for a three-year term, with two two-year options to extend the agreements for a total aggregate amount not to exceed $13,282,500: a) Agreement No. 20-24-040-00 to Braughton Construction; and b) Agreement No. 20-24-082-00 to Procell; 2) Authorize the Chair or Executive Director, pursuant to legal counsel review, to execute the agreements, on behalf of the Commission; and 3) Authorize the Executive Director, or designee, to execute task orders awarded to the contractors under the terms of the agreements. 7J. COVID-19 IMPACTS TO THE 91 EXPRESS LANES Page 448 Overview This item is for the Commission to receive and file a presentation that provides a summary of COVID-19 impacts to the Commission's 91 Express Lanes. Riverside County Transportation Commission Meeting Agenda June 10, 2020 Page 5 7K. 91 EXPRESS LANES MONTHLY STATUS REPORTS Page 464 Overview This item is for the Commission to receive and file the 91 Express Lanes Monthly Reports for three months from January to March 2020. 7L. APPROVAL OF METROLINK OPERATING SUBSIDY FOR FIRST QUARTER OF FISCAL YEAR 2020/21 AND RELATED MEMORANDUM OF UNDERSTANDING Overview This item is for the Commission to: Page 528 1) Receive and file a report on the Commission's portion of the FY 2020/21 Southern California Regional Rail Authority (SCRRA) operating budget; 2) Approve the initial FY 2020/21 SCRRA operating budget, which results in an operating subsidy of $4,533,566 from the Commission; and 3) Authorize the Executive Director to finalize and execute Memorandum of Understanding (MOU) No. 20-25-091-00 with SCRRA regarding annual funding, including subrecipient matters related to pass -through of federal funding 7M. FISCAL YEAR 2020/21 SHORT RANGE TRANSIT PLAN UPDATES AND TRANSIT FUNDING ALLOCATIONS Overview This item is for the Commission to: Page 547 1) Approve the Fiscal Years 2020/21 — FY 2022/23 Short Range Transit Plans (SRTPs) for the cities of Banning (Banning), Beaumont (Beaumont), Corona (Corona), and Riverside; Palo Verde Valley Transit Agency (PVVTA); Riverside Transit Agency (RTA); SunLine Transit Agency (SunLine); and the Commission's FY 2020/21— 2024/25 SRTP for the Rail and Vanpool Programs; 2) Approve FY 2020/21 Transit Operator Funding Allocations for Banning, Beaumont, Corona, and Riverside; PVVTA; RTA; SunLine; and the Commission's Rail and Vanpool Programs; 3) Adopt Resolution No. 20-010, "Resolution of the Riverside County Transportation Commission to Allocate Local Transit Assistance Funds and State Transit Assistance Funds For the Fiscal Year 2020/2021 "; and 4) Direct staff to add the federally funded and regionally significant projects into the Federal Transportation Improvement Program (FTIP). Riverside County Transportation Commission Meeting Agenda June 10, 2020 Page 6 7N. AMENDMENT FOR CONSTRUCTION FREEWAY SERVICE PATROL TOWING SERVICES SUPPORTING THE 1-10 TUNE-UP PROJECT AND FIRST ONE-YEAR TERM EXTENSION Page 1244 Overview This item is for the Commission to: 1) Approve Agreement No. 17-45-061-02 , Amendment No. 2 to Agreement No. 17-45-061-00 with Pepe's Towing (Pepe's) to include Construction Freeway Service Patrol (CFSP) service for the 1-10 Tune -Up Project (Project) for an additional amount of $741,360, and a total amount not to exceed $4,449,313; and 2) Authorize the Chair or Executive Director, pursuant to legal counsel review, to execute the agreement on behalf of the Commission 70. SAN BERNARDINO COUNTY TRANSPORTATION AUTHORITY AGREEMENT FOR BI- COUNTY RIDESHARE PROGRAM SERVICES Overview This item is for the Commission to: Page 1250 1) Approve Agreement No. 20-41-090-00 with the San Bernardino County Transportation Authority (SBCTA) for a two-year term to reimburse the Commission in an amount not to exceed $2.4 million for commuter/employer rideshare (IE Commuter) programs administered by the Commission, on behalf of both agencies, and for the Commission to reimburse SBCTA an amount not to exceed $200,000, for SBCTA's provision of rideshare and vanpool program web -based software, as part of an ongoing bi-county partnership; and 2) Authorize the Chair or Executive Director, pursuant to legal counsel review, to execute the agreement on behalf of the Commission. 7p. FISCAL YEAR 2020/21 MEASURE A COMMUTER ASSISTANCE BUSPOOL SUBSIDY FUNDING CONTINUATION REQUEST Overview This item is for the Commission to: Page 1287 1) Authorize payment of the $2,350/month maximum subsidy per buspool for the period July 1, 2020 to June 30, 2021, to the existing Riverside I buspool; and 2) Require subsidy recipients to meet monthly buspool reporting requirements as supporting documentation to receive payments. Riverside County Transportation Commission Meeting Agenda June 10, 2020 Page 7 7Q. INLAND EMPIRE TELEWORK INITIATIVE Overview This item is for the Commission to: Page 1291 1) Authorize staff to develop and implement a comprehensive telework assistance program for Riverside County employers and residents, with outreach activities beginning as early as July 1, 2020, in partnership with the San Bernardino County Transportation Authority (SBCTA) through the IE Commuter program; 2) Authorize staff to work with local and regional government partners, Riverside County businesses, and other stakeholders to identify and encourage additional options for virtual travel and other cost-effective transportation demand management (TDM) strategies; and 3) Authorize staff to quantify vehicle miles traveled (VMT) reductions resulting from the telework assistance program and additional TDM strategies subsequently developed for the purposes of creating potential mitigation credits for transportation projects subject to SB 743. 7R. CITY OF LAKE ELSINORE FUNDING REQUEST FOR CONSTRUCTION OF INTERSTATE 15/MAIN STREET INTERCHANGE IMPROVEMENT PROJECT Page 1325 Overview This item is for the Commission to: 1) Approve programming $5,483,000 of 2009 Measure A Western County Regional Arterial (MARA) funds for the city of Lake Elsinore's (Lake Elsinore) Interstate 15/Main Street Interchange Improvement Project (Main Street IC); 2) Approve Agreement No. 20-72-089-00 between the Commission and Lake Elsinore for the programming of $5,483,000 of MARA for the construction phase of Main Street IC; and 3) Authorize the Chair or Executive Director, pursuant to legal counsel review, to execute the agreement. Riverside County Transportation Commission Meeting Agenda June 10, 2020 Page 8 8. AWARD OF INTERSTATE 215/PLACENTIA AVENUE INTERCHANGE PROJECT CONSTRUCTION AGREEMENT TO RIVERSIDE CONSTRUCTION COMPANY Overview This item is for the Commission to: Page 1330 1) Award Agreement No. 20-31-068-00 to Riverside Construction Company to construct the Interstate 215/Placentia Avenue Interchange Project (Project), in the amount of $30,292,082, plus a contingency amount of $3,029,208 for potential change orders, and supplemental work in the amount of $889,500, for a total amount not to exceed $34,210,790, contingent upon action by the California Transportation Commission (CTC) to allocate $14,160,000 of Local Partnership Program (LPP) formula funds to the Project; 2) Approve Agreement No. 20-31-063-00 with the Riverside County Transportation Department (RCTD) for a reimbursement of $30,000 for the Mead Valley Monument to be included in the construction of the Project per County of Riverside request; 3) Approve Agreement No. 20-31-086-00 with the Riverside County Flood Control and Water Conservation District (RCFC&WCD) for the maintenance of detention basins and drainage culverts to be constructed as part of the Project and to be maintained by RCFC&WCD; 4) Approve the use of $14,160,000 of Senate Bill (SB) 1 Local Partnership Program (LPP) Formula Cycle 3 funds for the Project; 5) Approve match funds by programming $12,354,000 of Transportation Uniform Mitigation Fee — Community and Environmental Transportation Acceptability Process (TUMF-CETAP) funds and $1,806,000 of 2009 Measure A Western County New Corridors funds; 6) Authorize the Chair or Executive Director, pursuant to legal counsel review, to finalize and execute the agreements on behalf of the Commission; and 7) Authorize the Executive Director, or designee, to approve contingency work as may be required for the Project. 9. SENATE BILL 743 UPDATE AND REQUEST TO DELAY IMPLEMENTATION Overview This item is for the Commission to: Page 1373 1) Receive an update on the implementation Senate Bill 743 (Steinberg, 2013) by Caltrans; and 2) Authorize the Chair to request the Governor delay the use of Vehicle Miles Traveled (VMT) as the primary method for assessing transportation impacts on the environment for projects subject to California Environmental Quality Act (CEQA) review. Riverside County Transportation Commission Meeting Agenda June 10, 2020 Page 9 10. ITEM(S) PULLED FROM CONSENT CALENDAR AGENDA 11. COMMISSIONERS / EXECUTIVE DIRECTOR REPORT Overview This item provides the opportunity for the Commissioners and the Executive Director to report on attended meetings/conferences and any other items related to Commission activities. 12. ADJOURNMENT The next meeting of the Commission is scheduled to be held on Wednesday, July 8, 2020, Board Room, First Floor, County Administrative Center, 4080 Lemon Street, Riverside. 6/10/2020 Mail - Lisa Mobley - Outlook [EXTERNAL] RCTC: June 10th Meeting: Public Comments: Item 3: Ron Roy Ron Roy <rroy310@gmail.com> Tue 6/9/2020 5:00 PM To: Lisa Mobley <LMobley@RCTC.org> 1 attachments (17 MB) USDOT FHA Diverging Diamond Interchange Information Guide.pdf; To: Clerk of the Board: RCTC From: Ron Roy 35161 Hogan Dr, Beaumont, CA 92223 Re: Divergent Diamond Interchanges: Dear RCTC I am requesting that the commission adopt the Divergent Diamond Interchange (DDI) Design as the standard interchange design for all existing and future interchange projects within the County, including rehabilitation and replacement of existing interchanges. A USDOT FHA summary of a DDI is provided below. The U.S. now has 99 DDI's in operation in over 30 states (https://divergingdiamond.com/ddi- openings-by-date/) . For some reason unknown to me, California is lagging significantly behind. California's has only 3 DDI's approved. One in Manteca in the Central Valley: https://cal.streetsblog.org/2019/06/28/central-valley-to-get-a-diverging-diamond- interchangl See also: https://www.abcl0.com/article/news/local/manteca/first-of-its-kind- interchange-in-california-will-be-built-in-manteca/103-16b950ba-4481-4756-a58e-3d4f32489abd Another has been approved for Ceres California. Also San Bernadino's SBTCA has approved a DDI at University Parkway and 1215. See: https://cros7.permits.performance.gov/permitting-projects/sbd-215- university-parkway-icreconfigure-existing-ic-ramp Please note WRCOG has already studied the DDI: See attachment: Beaumont, where I live, is an ideal location for DDI's. Interchange rehabilitations and replacements have been indicated for the following Beaumont Area Interchanges: Highland Springs Rd/110 110/SR 60 Interchange Oak Valley Parkway/I10 Interchange Cherry Valley Blvd./I10 Interchange In my opinion, the Oak Valley Interchange provides an ideal starting point for completing a DDI in my area. https://outlook.office.com/mail/deeplink?version=2020060101.15&popoutv2=1 1/2 6/10/2020 Mail - Lisa Mobley - Outlook Please note however, that coordination with WRGOG will be necessary. Thank you Ron Roy As summarized in the USDOT FHA Diverging Diamond Interchange Study, page 3 (see attachment) a Divergent Diamond Interchange (DDI) design is described as follows: "The diverging diamond interchange (DDI) is also known as a double crossover diamond (DCD) and is an alternative to the conventional diamond interchange or other alternative interchange forms. The primary difference between a DDI and a conventional diamond interchange is the design of directional crossovers on either side of the interchange. This eliminates the need for left -turning vehicles to cross the paths of approaching through vehicles. By shifting cross street traffic to the left side of the street between the signalized crossover intersections, vehicles on the crossroad making a left turn on to or off of ramps do not conflict with vehicles approaching from other directions. The DDI design has shown to improve the operations of turning movements to and from the freeway facility and significantly reduces the number of vehicle -to -vehicle conflict points compared to a conventional diamond interchange. The DDI also reduces the severity of conflicts, as conflicts between left -turning movements and the opposing through movement are eliminated. The remaining conflicts are reduced to merge conflicts for turning movements, and the reduced- speed crossover conflict of the two through movements. Also the https://outlook.office.com/mail/deeplink?version=2020060101.15&popoutv2=1 2/2 AGENDA ITEM 5 PUBLIC HEARING RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: June 10, 2020 TO: Riverside County Transportation Commission FROM: Michele Cisneros, Deputy Director of Finance Theresia Trevino, Chief Financial Officer THROUGH: Anne Mayer, Executive Director SUBJECT: Proposed Budget for Fiscal Year 2020/21 STAFF RECOMMENDATION: This item is for the Commission to: 1) Conduct the public hearing on the proposed Budget for FY 2020/21; 2) Approve the salary schedule effective July 2, 2020, located in Appendix B of the proposed budget; 3) Authorize the expenditure of $1.2 million of 91 Express Lanes toll revenues designated as surplus in accordance with the 2013 Toll Revenue Bonds Indenture to fund Commission costs related to the development of agreements related to the funding, construction, operations, maintenance, and use of toll revenues for the future direct, tolled connector linking the SR-241 toll road to the 91 Express Lanes (241/91 connector); and 4) Adopt the proposed Budget for FY 2020/21. BACKGROUND INFORMATION: The annual fiscal budget is the result of staff determining the operating and capital needs for FY 2020/21 and identifying the resources to fund those needs. The policy goals and objectives approved by the Commission on March 11 were the basis of this budget. The long-term policy goals that support the Commission's objectives considered during the preparation of the budget relate to promoting quality of life; achieving operational excellence; connecting the economy; being a responsible partner; and maintaining fiscal accountability. At its January meeting, the Commission approved the mid -year FY 2019/20 and the FY 2020/21 revenue projections for Measure A, LTF, and TUMF revenues. Subsequently in March, the federal government as well as California's Governor Newsom issued emergency declarations related to the COVID-19 pandemic. Further, on March 19, Governor Newsom issued Executive Order N-33-20, a stay at home order to protect the health and well-being of all Californians and to establish consistency across the state in order to slow the spread of COVID-19. The County of Riverside also issued a directive to county residents supporting the Governor's executive order. Agenda Item 5 1 COVID-19 and the related "stay at home" orders have negatively impacted the local, regional, state, and federal economies; the magnitude and duration of these impacts remains uncertain. Nonetheless, at its May meeting, the Commission approved revised FY 2019/20 and FY 2020/21 revenue projections for Measure A, LTF, and TUMF to establish more realistic projections and expectations for the Commission's FY 2020/21 budget and impacts on local jurisdictions. Based on the analysis performed for sales tax revenues by economic category and underlying economic segments, the revised projections anticipate significant decreases in Measure A and LTF revenues. An analysis of TUMF revenues also resulted in significant reductions in projected revenues. Measure A January 2020 Projection May 2020 Projection Decrease ($) Decrease (%) LTF January 2020 Projection May 2020 Projection Decrease ($) Decrease (%) FY 2019/20 FY 2020/21 $ 202,000,000 178,000,000 24,000,000 12% 207,000,000 160,000,000 47,000,000 22% $ 103,000,000 $ 106,000,000 91,000,000 82,000,000 12,000,000 24,000,000 12% 23% TUMF January 2020 Projection May 2020 Projection Decrease ($) Decrease (%) $ 27,000,000 $ 28,000,000 16,000,000 11,000,000 11,000,000 17,000,000 41% 61% The proposed Budget for FY 2020/21 is attached. Considering the COVID-19 impacts, this document contains the minimum components considered necessary to gain an understanding of and approve the FY 2020/21 Budget. The components include an introductory letter; Commission information; the executive summary; the Appropriations Limit; details of the budget process; fund budgets; department budgets; and appendices including a glossary of acronyms and the salary schedule effective July 2, 2020. The budget document does not include other sections generally included such as program revenues and other sources; debt; community profile; and appendices including funding definitions and program/general terms. The Commission's budget is primarily project -driven, although the express lanes operations are service -driven. As a project -driven agency, the Commission accumulates funds, or reserves, for specific projects and programs — resulting in flexibility to adjust project development or programs especially in times of economic downturns. The proposed FY 2020/21 Budget anticipates that total uses will exceed total sources by approximately $114 million. Similar to prior years, the Agenda Item 5 2 accumulated reserves, which include bond proceeds issued in FY 2017/18, will fund the deficiency. In the executive summary, Table 16 provides a summary of the projected fund balance at June 30, 2021, and tables 17-19 provide a summary of budgeted sources and uses from different perspectives (comparative, operating and capital, and fund). Since the Commission is project -driven, personnel costs represent less than 1 percent of budgeted expenditures. Budgeted personnel costs reflect recent Commission actions, including consideration of COVID-19 impacts. First, in July 2019, the Commission paid its net pension liability of approximately $8.6 million. The Executive Director placed a hiring freeze on vacant positions. Accordingly, four vacant positions are not funded in the FY 2020/21 Budget; however, these approved positions remain on the Commission's staff organization chart. Finally, at its May meeting, the Executive Committee approved the suspension of merit increases and the salary range cost of living adjustment in FY 2020/21. The Executive Committee also approved the resulting FY 2020/21 salary ranges at the May meeting. This salary schedule is included in Appendix E to the budget and complies with Government Code §20636, "Compensation Earnable" and California Code of Register §570.5, "Requirements for a Publicly Available Pay Schedule." Staff recommends the Commission approve the salary schedule effective July 2, 2020, located in Appendix B of the proposed FY 2020/21 Budget. With this budget, the Commission will continue to move forward current capital projects to construction, thereby providing a stimulus for the local economy. Significant capital projects include: • Construction on the 60 truck lanes in the Pass area, 91 corridor operations project in Corona, I-15/Railroad Canyon interchange in Lake Elsinore, Mid County Parkway's (MCP) first project at I-215/Placentia Avenue interchange in Perris, and Pachappa underpass on SR-91 in downtown Riverside; • Design -build activities on the 1-15 Express Lanes Project completion in northwestern Riverside County and the 15/91 Express Lanes Connector in Corona; and • Preliminary engineering, final design, and/or right of way acquisition on the 71/91 connector in Corona, 1-15 Express Lanes Project -Southern Extension, and MCP's second project. Other major capital project expenditures include pass -through funding for Measure A local streets and roads, the other SB 132 projects in northwestern Riverside County, Western County TUMF and Measure A regional arterial projects, and several commuter rail station upgrades and improvements. At its November 2019 meeting, the Commission approved the 241/91 Connector term sheet as a framework for future agreements and directed staff to work with agencies to prepared agreements for each respective governing board's consideration. The budget includes $1.2 million in costs related to the development of these agreements related to the funding, construction, operations, maintenance, and use of toll revenues for the future 241/91 connector. Staff recommends that the Commission authorize the expenditure of $1.2 million of 91 Express Agenda Item 5 3 Lanes toll revenues designated as surplus in accordance with the 2013 Toll Revenue Bonds Indenture to fund these costs. A public hearing to allow for public comment on the proposed budget is required prior to the adoption of the proposed budget, including the proposed salary schedule. Accordingly, staff recommends the Commission conduct the public hearing today followed by adoption of the proposed Budget for FY 2020/21. In accordance with the Commission's fiscal policies, the budget must be adopted no later than June 15 of each year. Due to the uncertainties related to the magnitude and duration of COVID-19 impacts, it is likely that the FY 2020/21 budget will require continuous monitoring, assessment and potential adjustment throughout the fiscal year. Staff will likely return to the Commission throughout the year for updates and Commission action when necessary to ensure accuracy and transparency on potential budget adjustments. A summary of the proposed Budget for FY 2020/21 is as follows: Agenda Item 5 4 Revenues and other financing sources: Sales taxes -Measure A and Local Transportation Funds Reimbursements (federal, state, and other) TUMF, including reimbursements State Transit Assistance, including State of Good Repair Tolls, penalties, and fees Other revenues Interest on investments Debt proceeds, including bond premiums Transfers in Total revenues and other financing sources Expenditures and other financing uses: Personnel salaries and fringe benefits Professional and support services Projects and operations Capital outlay Debt service Payment to escrow agent Transfers out Total expenditures and other financing uses Excess (deficiency) of revenues and other financing sources over (under) expenditures and other financing uses Beginning fund balance (projected) Ending fund balance (projected) Attachment: FY 2020/21 Proposed Budget FY 2020/21 Budget $ 242,000,000 277,266,400 15,500,000 28,656,900 42,258,900 621,500 3,545,500 714,899,900 177,599,100 1,502,348,200 10,932,000 39,723,400 659,609,700 5,963,800 575,345,900 147,488,000 177,599,100 1,616,661,900 (114,313,700) 821,472,700 $ 707,159,000 Agenda Item 5 5 RIVERSIDE COUNTY TRANSPORTATION COMMISSION FISCAL YEAR 2020/21 June 10, 2020 Honorable Commissioners Riverside County Transportation Commission Riverside, California FY 2020/ 21 Budget Introduction RCTC: Safety. Fiscal Resaonsbility. Economic Recovery. Thank you forreviewing the Fiscal Year (FY)2020/21 budgetforthe Riverside County Transportation Commission (Commission or ROTC). This document provides an opportunity to evaluate the financial backbone of an innovative, active, and ential public transportation agency that connects the lives of Riverside County (County) residents every day. Even in the midst of this recession, we know Riverside County will continue to grow among the fastest of any other area of the state of California (California or State), which makes our mission to provide transportation projects and se rvicesabsolutely critical in protecting and improving the quality of life for over 2.4 million residents. Unfortunately, we face a worldwide crisis created by COVID-19, or the novel coronavirus, which haskilled thousandsof people throughout the world. The cost ofthispandemic in termsof human life cannot be justly quantified; the coststo the economy are staggering aswell. Riverside County'seconomy hasnot been spared by the crisis. Sate and local stay at home orders resulted in thousandsofresidentslosing theirjobseitherpermanently ortemporarilyand significant downturnsin taxrevenuesforpublic agenciessuch asthe Commission. It iswith thisbackdrop that RCTC presents its FY 2020/21 budget. Overall, while the budget predicts lower sales tax revenue from the Commission'svoter-approved Measure A salestax and reduced toll revenue from the 91 Express Lanes, it also laysout a smart and aggressive program of highway, regional arterial, and transit construction to ensure that Riverside County keeps working and createsa transportation system that will be ready fora productive and promising future. While RCTC revenues will be impacted this year, we have no intention of slowing down or impacting progress. Infrastructure development, and especially transportation projects, create jobs and economic opportunity. The Commission will take a leading role in that effort under the direction of our 34-member Commission whose sole aim is in serving the taxpayers of Riverside County. Even with Lower Revenues, Commission Activities Continue at Full Speed The Commission'svoter-approved half -cent salestax program servesasthe main funding source for transportation funding in Riverside County. Prior to the COVID-19 crisis, Measure A sales tax revenues were stable with average annual growth of over 5.5% in the last decade; they are projected at $160 million for FY2020/21. Although Measure A revenueshelp to fund major projects including the 1-15 Express Lanes project, Measure A also funds local transportation priorities and needs. In FY 2020/21, the Commission will return $48.8 million in funding to local cities and the County for local street and road improvements. The Coachella Valley Association of Governments and the Western Riverside Council of Governments (WRCOG) administer Transportation Uniform Mitigation Fee (TUMF) programs that serve local and regional arterial needs. In the Coachella Valley, arterials are funded through a combination of TUMF, Measure A, and additional local contributions. In Western Riverside County, TUMFdollarsare equally split between WRCOG and the Commission with RCTC'sdollarsallocated to regional arterialsand new highway corridors. 7 Funding transportation projectsand servicesrequiresa combination of funding sources, and the Commission receives and programs funding from state and federal sources. This includes California's Transportation Development Act program dollars allocated primarily to the County's major public transit providers. Measure A also pays its share by funding transit fare discounts; providing fundsfor programsfor senior citizens, personswith disabilities, and individuals of limited means; allocating fundsfor commuter rail and intercity busservices; and operating a commuter assistance program that provides traveler information and ridesharing assistance to employers and commuters. Chart 1 summarizes the Commission's overall budget of $1.29 billion for FY2020/21 by program, which includesdelivery of capital projectsand funding of administration management, planning and programming, rail and transit operations, smaller programs such as motorist and commuter assistance, toll operations, and debt service. Chart 1—FY2020/21 Budget (in millions$) Management Services,$11.8 Planning and Programming Services,$7.2 Toll Operations, $44.4 People Working —Building a Better Future Rail Maintenance and Operations, $54.3 Public and Specialized Transit, $100.3 Commuter Assistance,$4.9 capital Projects evelopment and Delivery, $486.8 Motorist Assistance, $6.4 The Commission and its project partners at the California Department of Transportation, local jurisdictions, and transit agencieswill continue investing in transportation using a variety of local, state, and federal sourcesto build projects, plan and design new improvement to keep people working and contributing to the local economy. During FY2020/21, the Commission will invest $487 million in capital projects (Chart 1) that include highway, regional arterial, local streets and roads, and rail projects. Riverside County is in a fortunate position in that significant pre -construction work has taken place on a number of projectsand the Commission hassuccessfullysoughtoutfunding from a variety of funding sources to ensure a busy year. Notable capital projects either currently in construction or slated to begin in Western Riverside County in the upcoming fiscal year include the following: 8 • Completion of the Interstate (I)-15 Express Lanes in Corona, Norco, Eastvale and Jurupa Valley; • Ongoing construction of truck laneson State Route (SR) 60 in the San Gorgonio Pass; • Station and operational improvementsat the Riverside -Downtown Metrolink station; • Construction of a new freeway interchange at Placentia Avenue and Interstate (I) 215 in Perris; • Expansion and construction of major improvements at the I-15/Railroad Canyon interchange in Lake Elsinore; • Addition ofa new auxiliary lane on the westbound SR-91 nearGreen RiverRoad in Corona; • Reconstruction of the Pachappa Underpassat SR-91 in Downtown Riverside; and • Construction ofa new toll connector to and from the RCTC 91 Express Lanes and the 15 Express Lanes north of SR-91. The Commission is a project -driven agency. Capital project costs comprise 34% of the Commission's FY 2020/21 overall budget. Chart 2 illustrates the capital projects expenditures by function. Chart2—Capital Projects (in millions$) Operating and Capital Disbursements,$0.9 Regional Arterials, $30.0 Local Streetsand Roads, $48.5 Right of Wayandl Land, $58.2 Design Build, $10 Personnel, Professional, and Support , $9.2 Program Operations, $7.6 Fy RCTC Express Lanes Program Strengthens and Expands Engineering, $26.2 On March 20, 2017, the Commission opened the extension of the 91 Express Lanes into Riverside County. The $1.4 billion 91 Project primarily consists of two tolled express lanes, a direct express lanesconnector, and an additional general purpose lane in each direction of SR-91 between the Orange County line and 1-15 in Corona. Until early March and the onset of the COVID-19 pandemic and resulting shutdown orders, usage and revenue regularly exceeded original projections. Asa result, the Commission received an upgrade in its long-term debt ratings from Fitch Ratingsand S&P Global Ratingsduring FY2019/20. RCTC'sratingshave been upheld in spite of reduced traffic demand from the pandemic. Thanks to its conservative fiscal strategy and reserves set aside for debt service, the Commission's near term and mid-term debt service requirementsare already funded. 9 The Commission's venture into toll operations will expand into a much broader role with the opening of the 1-15 Express Lanes project expected in the latter half of 2020. This$472 million effort adds one to two tolled expresslanesto an approximately 15-mile section of 1-15 between SR60 and Cajalco Road. The new 15 Express Lanes will travel through the cities of Corona, Eastvale, Norco, and Jurupa Valley. Planning fora New and Uncertain Future Funding isbut one piece of determining the future of transportation. To help guide the Commission through the challenges of population growth, changing demographics, economic needs, and technological change, RC1C launched an effort to develop a long-range transportation plan for Riverside County. Overall, there are a number of long-range projects envisioned for the County including Mid County Parkway, realignment of SR79, pasnger rail service to the Coachella Valley, a variety of active transportation projects, and a new expressway along Ethanac Road. In addition to these projects, local streetsand roadsand new interchangesare equally important. In orderto addressthe future, the Commission adopted a Traffic Relief Plan in May 2020. The plan identifies RC1C'soverall transportation priorities and is intended to be part of an overall strategy to adopt an additional salestaxto fund it. The salestaxeffort has been suspended for the near - term, and RC1C will make it a priority to seek additional sources of funding from the state and federal government. This will be tempered by the possibility of significant changes in travel behavior brought on by COVID-19. Although uncertainty will continue to present challenges, the Commission standsready to meet that challenge thanksto strong and innovative leadership from Commissionersand the 50 staff members. A Commitment to Riverside County Ensuring local funding for transportation will require ongoing outreach to the public and transparent oversight and management that ensures public confidence in the Commission's fiduciary, oversight, and visionary roles. This budget document is intended to demonstrate the Commission'scommitment to the public aswell asdocumenting the Commission'sdedication to sound budget practices. This budget document is one of many ways the Commission works to ensure public accountability and full transparency of itsactions. The Commission hasalso expanded itscommitment to communicate with the public and closely monitors its public engagement activities, which progress is reported on a quarterly basis. We welcome public input and participation and invite you to visit our website at www.rctc.org or to follow uson Facebook, Twitter and Instagram @theRCTC. Ongoing communication will be critical as needs rapidly change in an uncertain environment. Staff will likely return with periodic budget updates and adjustments. The basic nature of this document reflects the current macroeconomic situation while providing current and needed budgetary information. 10 GOVERN u ENT FiNA NCE 0FF•CER6 AS 6OCIAT iOH Distinguished Budget Presentation Award Riverside County Transportation Commission California 4iu41 Vox H.vnniny July I, 2819 requirements. Accordingly, it will eligibility for another award. Acknowledgments not GFOA Distinguished Budget Award The Government Finance Officers Association of the United States and Canada (GFOA) presented a Distinguished Budget Presentation Award to the Commission for its annual budget for the fiscal year beginning July 1,2019. In orderto receive thisaward, a governmental unit must publish a budget document that meets program criteria asa policy document, an operations guide, a financial plan, and a communicationsdevice. The award isvalid fora period of one year only. This budget providesthe information necessary for the Commission to manage its resources in FY 2020/21. However, due to the impact of COVID-19 on staff resources, the Commission streamlined the document to provide essential information without some details provided in prioryears. Asa result, the document does not conform to the comprehensive award program be submitted to GFOA to determine the Commission's The preparation of this budget has been a collaborative effort of the Commission's staff. The budget reflectsthe Commission'sdesire to communicate the componentsof the budget in terms that are easily understandable and supportable for the general public. Staff acknowledgesand appreciatesthe guidance, inspiration and leadership of the Board of Commissionersin advancing the future of transportation in Riverside County. 9gnature on file Signature on file Anne Mayer, Executive Director lheresia Trevino, Chief Financial Officer 11 TABLE OF CONTENTS COMMISSION INTRODUCTION EXECUTIVE SUMMARY Introduction Policy Goalsand Objectives Policy Matrix Budget Overview Commission Personnel Department Initiatives Fund Balances Budget Comparative Operating and Capital Budget Budget by Governmental Fund Type Highway, Regional Arterial, and Rail Programs GANN APPROPRA11ONSLIMIT Section 1: RNANCIALOVERVIEW Fiscal Accountability Policies Functional Management Functional Organization Chart Budget Process Section 2: FUND BUDGETS Budgetary Basisand FundsStructure General Fund Special Revenue Funds Capital ProjectsFunds Debt Service Funds Enterprise Funds Section 3: DEPARTMENTBUDGETS Budget Comparison by Department 3.1: MANAGEMENTStHVICES Executive Management Administration Legislative Affairsand Communications Finance 3.2: REGIONAL PROGRAMS Planning and Programming Rail Public and Specialized Transit Commuter Assistance Motorist Assistance 3.3: CAPITAL PROJECTS Capital Project Development and Delivery Capital ProjectsSjmmary Local Streetsand RoadsSummary 3.4: TOLL OPERATIONS ROTC 91 Express Lanes Section 4: APPENDICES A —Glossary of Acronyms B—Salary Schedule/Organization Chart Narrative history of the Commission and list of principal officers Narrative overview of the operational and financial factorsconsidered Narrative description of policy goalsand objectives Linkage of policy goalsand departmental goalsand objectives Simmarized narrative overview, charts, and tablesof sourcesand uses Personnel expendituresand full-time equivalents Majorinitiativesand summarized usesby department Projected fund balancesbygovernmental fund type and program Schedule of budget by summarized line item Schedule of budget classified by operating and capital purposes Schedule of budget by governmental fund type Listing of budgeted capital project expendituresby program Narrative discussion of the appropriationslimit Description of financial policies Narrative description of Commission functions Organization chart by Commission functions Narrative description of variousbudget stages Narrative description of budgetary basis and funds structure Overview; narrative and chartsof sourcesand uses Overview; narrative and chartsof sourcesand uses by Measure A and non -Measure A special revenue funds Overview; narrative and chartsof sourcesand uses Overview; narrative and chartsof sourcesand uses Overview; narrative and chartsof sourcesand uses Schedule of revenues, expenditures, and otherfinancing sources(uses) by department Mission M issio n Mission M issio n M issio n M issio n Mission Mission M issio n M issio n M issio n Mission statement, budgeted uses, overview, and goals statement, budgeted uses, overview, and goals statement, budgeted uses, overview, and goals statement, budgeted uses, overview, and goals statement, budgeted uses, overview, and goals statement, budgeted uses, overview, and goals statement, budgeted uses, overview, and goals statement, budgeted uses, overview, and goals statement, budgeted uses, overview, and goals statement, budgeted uses, overview, and goals statement, budgeted uses, overview, and goals statement, budgeted uses, overview, and goals Narrative description of each capital project Schedule of local streetsand roadsdisbursementsby local agency Mission statement, budgeted uses, overview, and goals Explanation of commonly used abbreviations Schedule ofsalariesin accordance with state law and staff organization chart 12 Commission Introduction State of California (State or Califomia) law created the Riverside County Transportation Commission (Commission or RCTC) in 1976 to oversee the funding and coordination of all public transportation serviceswithin Riverside County (County). lhe Commission's mission isto assume a leadership role in improving mobility in the County. lhe governing body consistsof: • All five membersof the County Board of Supervisors; • One elected official from each of the County's28 cities; and • One non -voting member appointed by the Governor of California. The Commission isresponsible forsetting policies, establishing priorities, and coordinating activities among the County'svarioustransit operatorsand otheragencies. lhe Commission also programs and/or reviews the allocation of federal, state, and local funds for highway, transit, rail, non - motorized travel (bicycle and pedestrian), and othertransportation activities. The Commission is legally responsible for allocating Transportation Development Act (TDA) funds, the major source of funds for transit in the County. The TDA provides two sources of funding: the Local Transportation Fund (LTF), derived from a one-quarterof one -cent state salestax, and State Transit Assistance (STA), derived from the statewide salestax on diesel fuel. The Commission serves asthe tax authority and implementation agency for the voter approved Measure A Transportation Improvement Program (TIP). The County's electorate originally approved Measure A in 1988 to impose a one-half of one cent transaction and use tax (salestax) to fund specific transportation programsthat commenced in July 1989 (1989 Measure A). Voters approved the 1989 Measure A for 20years, and it expired on June 30, 2009. On November5, 2002, the votersof Riverside County approved the renewal of Measure A beginning in July 2009 through June 2039 (2009 Measure A). Additionally, the Commission provides motorist aid services designed to expedite traffic flow. These services include: • The Service Authority for Freeway Emergencies (SAFE), a program that provides call box service for motorists; • The Freeway Service Patrol (FSP), a roving tow truck service to assist motorists with disabled vehicleson the main highwaysof the County during peak rush hourtraffic periods; and • A traveler information system. The Commission provides these services at no charge to motorists. A $1 surcharge on vehicle registrations, a state allocation, and a portion of Senate Bill 1's(S31) recent increase in the state gastaxfund these services. The Commission isdesignated asthe Congestion Management Agency (CMA) forthe County. As the CMA, the Commission coordinates with local jurisdictions to establish congestion mitigation proceduresforthe County'sroadway system. The Commission participates in ongoing funding and governance of the Southern California Regional Rail Authority (SCRRA), known as Metrolink. The Commission ownsand operatesall nine commuter rail stationsserving the County. In March 2017, the Commission commenced toll operations on the RCTC 91 Express Lanes following the substantial completion of the State Route (SR) 91 corridor improvement project (91 Project). Construction started on a second managed lanes project, the Interstate (I)-15 Express Lanes project, in Fiscal Year (FY) 2017/18 with completion expected in late 2020. The Commission 13 anticipates completion of the 15/91 Express Lanes connector, a tolled connector between the existing RCTC 91 Express Lanesand the future 15 Express Lanesnorth of SR-91, by 2023. 14 Riverside County Transportation Commission List of Principal Officials Name Kevin Jeffries Karen 4iegel Chuck Washington V. Manuel Perez Jeff Hewitt Art Welch Uoyd White Joseph DeConinck Larry Sn ith Randall Bonner Raymond Gregory Steven Hernandez WesSpeake Scott Matas Clint Lorimore Linda Krupa Dana Reed Waymond Fermon Bria n Be rkso n Kathleen Fitzpatrick Bob Magee Bill Zmmerman Yxstain Gutierrez Scott Vinton Berwin Hanna Jan Ha rn ik Lisa Middleton Michael M. Vargas Ted Weill Rusty Bailey Andrew Kotyuk Michael S. Naggar Ben J. Benoit Mike Beauchamp Board of Commissioners Title Member Member Member 2nd Vice Chair(Commission) Member Member Chair(Budget and Implementation Committee), Vice Chair (Toll Policy and OperationsCommittee) Member Member Vice Chair(Budget and Implementation Committee) Member Member Member Member Member Member Member Member Chair (Toll Policy and OperationsCommittee, Western Riverside County Programsand Projects Committee) Member Member Member Member Member Member Vice Chair(Commission) Member Vice Chair(Western Riverside County Programsand ProjectsCommittee) Member Member Member Member Chair(Commission) Governor'sAppointee Management Staff Anne Mayer, Executive Director John Stand iford, Deputy Executive Director Michael Blomquist, Toll Program Director Marlin Feenstra, Project Delivery Director Aaron Hake, External Affairs Director Lorelle Moe -Luna, Multimodal Director lheresia Trevino, Chief Financial Officer Agency County of Riverside, District 1 County of Riverside, District 2 County of Riverside, District 3 County of Riverside, District 4 County of Riverside, District 5 City of Banning City of Beaumont City of Blythe City of Calimesa City of Canyon Lake City of Cathedral City City of Coachella City of Corona City of Desert Hot Springs City of Eastvale City of Hemet City of Indian Wells City of Indio City of Jurupa Valley City of La Quinta City of Lake Elsinore City of Menifee City of Moreno Valley City of Murrieta City of Norco City of Palm Desert City of Palm Springs City of Perris City of Rancho Mirage City of Riverside City of San Jacinto City of Temecula City of Wildomar Caltrans, District 8 15 Executive Summary Introduction The budget for FY 2020/21 is presented to the Board of Commissioners (Board) and the citizens of Riverside County. The budget outlines the projects and programs the Commission plans to undertake during the year and appropriatesexpendituresto accomplish these tasks. The budget also showsthe funding sources and fund balances for these projects and programs. This document serves as the Commission's monetary guideline for the fiscal year. To provide the reader a better understanding of the projects and programs, staff included descriptive information regarding each department and majorprogramsand projects. In early March 2020, the federal government as well as the California Governor hied emergency declarations related to the COVID-19 pandemic. Further, on March 19, 2020, the Governor issued an executive stay at home order to protect the health and well-being of all Californians and to establish consistency across the State to slow the spread of COVID-19. The County of Riverside also issued a directive to county residents supporting the Governor's executive order. COVID-19 and the related "stay at home" ordershave negatively impacted the local, regional, state, and federal economies; the magnitude and duration of these impacts is uncertain. This budget is presented based on the best available economic information. The Board and staff will continuously monitor, assoss, and adjust the budgeted revenue and expenditures as necessary throughout the crisis and duration of economic recove ry. Policy Goa Is a nd Objectives As approved at its March 11, 2020 meeting, the Commission is driven by four core mission statements and underlying goalsforthe people of Riverside County and the transportation system upon which they rely: QUAU1Y OF LIFE RC1C is focused on improving life for the people of Riverside County and empowering them to live life at their •ace. Environmental Ste wardshi• Goods Movement RCTC empowersthe residentsof Riverside County to choose how to get safely to where they are going. RCTC protects and preserves the County'senvironment for our residents. RCTC providesaccess, equity, and choice in transportation; RCTC isa mobility partner. RCTC projects and programs are the connection to employment, housing, schools, community institutions, parks, medical facilities, and shopping in the community. RCTC facilitatesthe funding and delivery of projectsthat mitigate the impact of increased goodsmovement flow through Riverside County. 16 OPERATIONAL EXCELLENCE RCTC isa responsible and conservative steward oftaxpa erdollars State of Good Repair Promises Fulfilled Innovation Information RCTC investsin road safety and_maintenan Litsresidents' neighborhoods... Projectsare completed on -time, on -budget; RCTC deliverson itspromisesasa steward of Riverside County residents' investment. Program and project delivery innovations drive results, savings, and greater economic opportunitiesforRverside County residents. ROTC operations are transparent; customers get prompt, reliable, quality service. CONNECTING 1HEECONOMY RCTC isa driverof economic • rowth in Riverside Coun Workforce Mobility Population Growth Economic Impact RCTC improves the economy by creating a robust workforce to workplace system; RCTC helps move the economy of Riverside County. Snce 1976, RCTC hasbeen responsible forconnecting ourCounty'seconomy as the County's population has quadrupled from 550,000 to over 2.4 million today. ROTC has invested over$4 billion in the County'seconomy thanksto Measure A and toll revenues, which has a multiplier impact in terms of jobs and economic opportunity throughout Riverside County. RESPONSIBLE PARTNER RCTC partners with local, re•ional, and state • ovemments to deliver road and transit •ro"ects Streets and Roads Transit Active Transportation Facilities Grants Local Measure A Value RCTC has invested over$1 billion in local prioritiesformaintaining streets and Ioadsand fixing potholes. ROTC isa partner with transit operators to provide residents mobility choices, flexibility, intercity and intercounty connectivity, and access. RCTC is a partner with agencies within the County to promote active transportation altematives, including the building of regionaltrailsand bicycle and pedestrian facilitiesin accordance with local general master and active 'transportation plans. RCTC isa steward of state and federal grants to leverage Measure A dollars and improve our communities. IRCTC invests Measure A dollarsintolrctsand programsthat benefit lot ommunitiesthroughout the County. Staff used these core mission statements and goalsto prepare this budget and develop the following short-term objectivesto guide furtherthe development of the FY2020/21 budget. Capital Project Development and Delivery • Continue preliminary engineering, design and/or construction of the 1-15 Express Lanes, 1-15 Express Lanes -Southern Extension, 15/91 Express Lanes connector, 71/91 interchange improvements, SR60 truck lanes, and Mid County Parkway projects included in the Western County Highway Delivery Plan. • Commence construction of the SR-91 Corridor Operations Project (91 COP) and I-15/Railroad Canyon and I-215/Placentia interchange projects. • Maintain and enhance communication and collaboration with the California Department of Transportation (Caltrans) to improve the Commission'sability to deliver critical projects. • Collaborate with local jurisdictions to implement the Transportation Uniform Mitigation Fee (1UMF) regional arterial program projects and facilitate the delivery of eligible arterial improvements in western Riverside County (Western County). 17 • Continue active engagement in state and federaleffortsto streamline and modernize the California Environmental Quality Act (CEQA) and the National Environmental Policy Act (NEPA) to improve the Commission'sability to deliver critical projects. Toll Operations • Efficiently operate express lanes and achieve high customer satisfaction through reduction in congestion, mobility improvements, and management of demand. Regional Programs • Maintain an active involvement in state and federal legislative matters to ensure that the Commission receivesproperconsideration fortransportation projectsand funding. • Subsidize reliable and cost-effective Metrolink commuter rail service to and from Riverside County; SCRRA isthe operator of Metrolink. • Provide leadership in the planning and development of the Coachella Valley -San Gorgonio Pass corridor rail service. • Support innovative programsthat provide transit assistance in hard to serve rural areasorforriders with special transit needs. • Promote cost controlsand operating efficiency fortransit operators. • Maintain effective partnerships among commuters, employers, and govemment to increase the efficiency of our transportation system by encouraging and promoting motorized and non - motorized transportation alternatives. • Provide a motorist aid system that ensuressafety and convenience to freeway motorists. Management Services • Maintain close communication with Commissioners and educate policy makers on all issues of importance to the Commission. • Develop and execute a communications and public engagement strategy for the purposes of education, information, and customerservice. • Maintain administrative program delivery costs below the policy threshold of 4% of Measure A revenues; the FY2020/21 Management Servicesbudget is2.41%of Measure A revenues. • Maintain administrative salariesand benefitsat lessthan 1%of Measure A revenues; the FY2020/21 administrative salariesand benefitsis.87%of Measure A revenues. • Maintain prudent cash reservesto provide some level of insulation for unplanned expenditures. • Maintain current strong bond ratingswith rating agencies. • Establish and maintain revenues and reserves generated from toll operations to be available for debt service in accordance with toll supported debt agreements; maintenance, repair, rehabilitation, administration and operations; and capital projectswithin the corridor. Linking Commission and Departmental Mission Statements the following matrix (Table 1) illustrates the linkage of the Commission's core mission statements described in this section to the individual departmental mission statements included in each department'ssection. 18 Table 1 —Relationship between Commission and Departmental Mission Statements Department Quality of Life Operational Excellence Connecting the Econom Responsible Partner Mane • ement Services Executive Management Administration Extemal Affairs Finance Re • ional Programs Planning and Programming Rail Maintenance and Operations Public and Specialized Transit Commuter Assistance Motorist Assistance Capital Pro'ect Development and Delive Toll Operations Budget Overview • • • X X X X X X X X Total sources (Table 2) are budgeted at $1,502,348,200, an increase of 87%over FY 2019/20 projected sources and 4% decrease over the FY 2019/20 budget. Total sources are comprised of revenues of $609,849,200, transfers in of $177,599,100, and debt proceeds of $714,899,900. the projected fund balance at June 30, 2020 available for expenditures/expenses(excluding amounts restricted for debt service of $15,703,700 and advances receivable of $21,156,300) is $784,612,700. Accordingly, total funding available forthe FY2020/21 budget totals$2,286,960,900. Table 2 — Sources FY 2019-2021 FY18/19 Actual FY 19/ 20 FY 19/ 20 Revised Budget Projected FY 20/ 21 Budget Dollar Percent Change Change Measure A SalesTax L1FSaIesTax STA Sa I es Ta x Intergovernmental lUMFRevenue Tolls, Penalties, and Fees Other Revenue Investment Income TransfersIn Debt Proceeds TOTAL Sources $ 201,205,000 103, 819,400 27,201,800 138,694,400 29,968,500 58, 423, 500 6,264,700 23, 050, 800 139,401, 800 14,946,100 $ 742,976,000 $ 178,000,000 91, 000, 000 31,050,600 260,473,700 17,240,000 67,201,100 652,000 9,500,000 166,746,000 741,095,400 $ 1,562,958,800 178, 000, 000 91, 000, 000 28, 697, 900 169,845,200 17, 240, 000 49,622,000 653,700 10,741,400 167, 757, 300 89,896,000 803,453, 500 $ 160,000,000 82, 000, 000 28, 656, 900 277,266,400 15, 500, 000 42, 258, 900 621,500 3,545,500 177, 599,100 714,899,900 $ 1,502,348,200 $ (18,000,000) (9,000,000) (2,393,700) 16,792,700 (1,740,000) (24,942,200) (30,500) (5,954,500) 10, 853,100 (26,195,500) $ (60,610,600) - 10% -10% -8% 6% -10% -37% -5 - 63% 7% -4 -4 Riverside County has specific competitive advantages over nearby coastal counties (Los Angeles, Orange, and San Diego), including housing that is more available and affordable as well as plentiful commercial real estate and land available for development at lower costs. Prior to the COVID-19 pandemic in early 2020, Riverside County's economy benefitted from employment gains due to the County'sability to attract businesscswith lower commercial rentsand a skilled laborforce. Population migration to the Inland Empire (i.e., Riverside and San Bernardino counties) occurred due to these employment opportunitiesand a lower cost of living compared to the coastal counties. Improvements in the local labor market and housing advantages had increased economic activity contributing to stable salestax revenue growth through FY2018/19 asnoted on Chart 3. 19 Chart 3 —Sources: Five -Year Trend $800,000,000 $700,000,000 $600,000,000 $500,000,000 $400,000,000 $300,000,000 $200,000,000 $100,000,000 $0 FY16/17 FY 17/18 FY18/19 FY 19/20 FY 20/ 21 Measure A Sales Tax t•IWILTFSalesTax ,1111••STA SalesTax }1UM F ,•t(.Federal, State, Loca I Revenues Toll Revenue �w Transfers In Debt Proceeds In May 2020, as noted in Chart 3, the Commission revised its FY 2019/20 and FY 2020/21 revenue projections to establish more realistic projections and expectations for the Commission's FY 2020/21 budget asa result of the COVID-19 crisis. the Governoralso enacted programsthat deferthe collection of sales tax revenues for certain qualifying businesses up to 12 months; the impact of these actions is uncertain. lhe Commission's economic outlook for FY 2020/21 anticipates COVID-19 impacts through much of FY 2020/21 with a gradual recovery; however, availability of state and federal funds could affect funding of the Commission'scapital projectsand programs. Mould a decline in Measure A and OF sales tax revenues continue for a longer period of time and the availability of federal and state revenuescontinue to be uncertain, the timing and scope of the Commission's projects and programs may be impacted. Regardlessof the current and future economic conditions, the Commission facesformidable ongoing challengesin termsof providing needed infrastructure enhancementsto support a population and an economy that hasoutgrown the capacity of itsexisting infrastructure. Fortunately, the foundation of the regional economy continuesto retain many of the fundamental positive attributesthat fueled itsearlier growth, including more affordable real estate with proximity to coastal communities, a large pool of skilled workers, and increasing wealth and education levels. While the Commission's primary revenues are the Measure A and L1Fsalestaxes, other revenues and financing sources are required to fund the Commission's programs and projects as illustrated in Chart 4. 20 Chart4—Sources: Major Categories Debt Proceeds4 Measure A SalesTax 11% Transfersln 12% L1FSalesTax 5% STA SalesTax 2% Intergovemmenta118% lUMFRevenue 1% Tolls,Penalties,and Fees3% Investment Income 0% In early May 2020, the California Department of Finance issued a fiscal update which projected a 27% decline in the State'ssalestaxrevenues. lhe State'sprojection isslightly higher but comparable to the Commission'srevised salestaxprojectionsforthe COVID-19 impactson economic categories(general retail, food products, transportation, construction, business to business, and miscellaneous) and underlying economic segments. the Commission receives Measure A and L1Fsalestax revenuesfrom the California Department of Tax and Fee Administration (CDTFA), asstatutorilycreated and authorized successorto the formerCalifomia State Board of Equalization. After considering the state of the local economy due to COVID-19, staff projects Measure A sales tax revenues of $160,000,000 for FY 2020/21. This is a 10%decrease from the FY 2019/20 revised projection of$178,000,000. Generally the Commission reagrogmsitssalestaxrevenue projectionsat midyear bad on the economy and revenue trends; however, the Commission anticipates more frequent reviews throughout FY2020/21 asthe actual COVID-19 impactsbecome known. On behalf of the County, the Commission administers the LTF for public transportation needs, local streets and roads, and bicycle and pedestrian facilities. the majority of LTF funding received by the County and available for allocation is distributed to all public transit operators in the County. The Commission receivesallocationsforadministration, planning, and programming in addition to funding for Western County rail operations included in the commuter rail Short Range Transit Plan (SRTP). Since LTFsalestax revenues approximate 51%of Measure A sales tax revenues, the Commission applied a similar reduction to LTF revenues. Accordingly, LTF sales tax revenue is budgeted at $82,000,000, a decrease of 10%from the FY2019/20 revised projection of $91,000,000. A statewide sales tax on motor vehicle diesel fuel generates STA funds, which the State Controller allocates by formula to the Commission for allocations to the County's public transit operators. SB 1 providesadditional STA revenues, including State of Good Repair(SGR) fundsfor transit maintenance, rehabilitation, and capital projects. The FY 2020/21 STA/SGR allocations, based on recent Sate estimates, is$28,656,900. Intergovernmental revenues include reimbursement revenues from federal sources of $103,695,200, state sources of $155,006,100, and local agencies of $18,565,100 for highway and rail capital projects, rail operations and station maintenance, commuter assistance, and motorist assistance programs as well as planning and programming activities. The increase of 6% in FY 2020/21 compared to the FY 2019/20 budget isrelated to increasesin federal and local agency reimbursementsoffset by a decrease in state reimbursements. SB 132 providesstate funding forthe 15/91 ExpressLanesconnectorand pass - through funding to the County for the I-15/Limonite interchange and Hamner Bridge widening and to 21 the County and city of Corona for grade separation projects. Other state reimbursementswill fund the SR60 truck lanes, 71/91 connector, I-215/Placentia Avenue interchange, I-15/Railroad Canyon interchange, and station rehabilitation projects. Federal reimbursements provide funding for the 1-15 Express Lanes -Southern Extension, 91 COP, SR60 truck lanes, Pachappa underpass, Mid County Parkway second construction package, and station rehabilitation projects. In connection with the CoronavirusAid, Relief, and Economic Security (CARES) Act, the Commission anticipatesthat Iessthan 6% of federal revenues will primarily support commuter rail stations and the commuter assistance program. Reimbursement revenuesvaryfrom yearto yeardepending on project activitiesand funding levels. Based on an amended Memorandum of Understanding (MOU) with the Western Riverside Council of Governments (WRCOG), the Commission receives 45.7% of TUMF revenues (as updated by the most recent Nexusstudy). lUMF representsfees assessed on new residential and commercial development in Western County. lhe Commission projectsFY2020/21 lUMFfeesat $15,500,000. The 10%decrease in projected lUMFrevenuesisprimarily related to the anticipated impactsof COVID-19 on new residential and commercial development. FY 2019/20 marked the third complete fiscal year of toll operations for the RCTC 91 Express Lanes following substantial completion of the 91 Project in March 2017. Since opening and through February 2020, the RCTC 91 Express Lanes traffic and toll revenues surpassed initial 2013 financing assumptions and an updated Riverside County 91 Express Lanes Extension Investment Grade Traffic and Revenue Study approved by the Commission in December 2018. As a result of COVID-19 stay at home orders, traffic and related revenues on the RCTC 91 Express Lanes declined below the 2018 updated study. Based on the anticipated impacts of COVID-19 on the RCTC 91 Express Lanes, the Commission conservatively estimates FY 2020/21 toll revenues, penaltiesand feesof $28,205,000 — a 43%decrease from the FY 2019/20 projected revenues of $49,622,000. The Commission anticipatesthe commencement of toll operationsof the 15 ExpressLanesin late 2020. For FY2020/21, the Commission projects$14,053,900 in toll revenues, penaltiesand feesforthe 15 Express Lanes. Other revenue of $621,500 includes property management generated from properties acquired in connection with varioushighway and rail properties. lhe Commission anticipates a 63% decrease in FY 2020/21 investment income due to extremely conservative investment yield projections resulting from lower interest rates in FY 2019/20, especially in response to COVID-19. The FY2020/21 budget projects investment income at a .50%investment yield, compared to lessthan 2%in prior year budgets. Transfers in of $177,599,100 relate primarily to the transfer of available debt proceeds for highway projects; LTFfunding forgeneral administration, planning and programming, rail operations, and grade separation project allocations; approved interfund allocationsforspecific projectsand administrative cost allocations; and debt service requirements from highway, new corridors, and regional arterial funds. Debt proceedsconsist of $47,371,900 in drawdownsfrom the federal Transportation Infrastructure Finance and Innovation Act (11FIA) Loan related to the 1-15 Express Lanes project and $667,528,000 in senior lien and second lien toll revenue refunding bonds(2020 Refunding Bonds) from the refinancing of the Commission's2013 Toll Revenue Senior Lien Current Interest Bondsand 2013 11F1A Loan related to the 91 Project. Total uses (Table 3), including transfers out of $177,599,100, are budgeted at $1,616,661,900, a 5% decrease from the prioryearbudget amount of $1,696,529,400. Program expendituresand transfersout totaling $871,997,800 represent 54% of total budgeted uses in FY2020/21. Program costs decreased by 10%from $965,180,100 in FY2019/20 due to projectsand programs identified below. 22 Table 3 — Uses FY 2019-2021 FY 18/ 19 FY 19/ 20 FY 19/ 20 Actual Revised Budget Projected FY 20/ 21 Budget Dollar Change Percent Change Capital Highway, Rail, and Regional Arterials Capital Local reetsand Roads Com m uter Assistance Debt service Management cervices Motorist Assistance Planning and Programming Public and 43ecialized Transit Rail Maintenance and Operations Toll Operations TOTAL Uses $ 325,373,900 61,069,300 4,738,500 76, 693,100 19, 670,100 7,998,800 4,395,300 147, 691,400 28,126, 800 17, 088, 200 $ 692,845,400 $ 614,141,700 54, 061, 300 4,989,400 706, 924, 000 24,425,300 9,389,700 16, 821, 900 195,123, 600 46,282,500 24, 370, 000 $ 1,696,529,400 $ 461,831,200 54,061,300 4,279,200 76,654,400 24,662,000 7,505,900 9,434,100 174,883,400 40,026,500 18,457,800 $ 871,795,800 $ 579,087,100 48,479,100 5,199, 600 722,833,900 21, 830, 200 8,967,700 8,259,900 120,106,200 56, 083, 200 45, 815, 000 $ 1,616,661,900 $ (35,054,600) -6% (5,582,200) -10% 210,200 4% 15, 909, 900 2 (2,595,100) -11% (422,000) -4% (8,562,000) -51% (75,017,400) -38% 9,800,700 21% 21,445,000 88% $ (79,867,500) -5% Note: Management Servicesincludes Executive Management, Administration, External Affairs, and Finance. Capital highway, rail, and regional arterials budgeted uses of $579,087,100 are 6% lower compared to the FY2019/20 budget due to project activity on the 1-15 Express Lanes, I-15/Limonite interchange, SR 60 truck lanes, and close-out activity on the 91 Project. Localstreetsand roadsexpendituresof $48,479,100 reflect a decrease of $5,582,200 overthe FY2019/20 budget and represent the disbursements of 2009 Measure A to local jurisdictions for the construction, repair, and maintenance of local streetsand roads. Commuterassistance budgeted expendituresof $5,199,600 are 4%higherthan FY2019/20 budget due to a potential commuter assistance program expansion in the eastern county, which is funded by a transferfrom S4FE Debt service of $722,833,900 includesthe refinancing of the 91 Project toll debt with proceedsfrom the 2020 Refunding Bonds. The Commission approved and budgeted for the refinancing in March 2020; however, the Commission postponed the refinancing to FY2020/21 due to market disruptions caused by COVID-19. Management services expenditures of $21,830,200 decreased 11%primarily due to completion of the public engagement program related to the Traffic Relief Plan in FY 2019/20. Expenditures include information technology equipment upgrades, communication and engagement efforts, financial advisory services, and debt service contribution. Motorist assistance expenditures of $8,967,700 decreased 4% due to reductions in call box program costs. Planning and programming budgeted expenditures of $8,259,900 reflect a 51%decrease from the FY 2019/20 budget due to decreased LTF-funded projectsand operationsactivities, otheragency projects, and special studies. Public and specialized transit budgeted expend ituresof $120,106,200 are 38%lowerthan the FY2019/20 budget. In connection with the CARESAct, transit operatorsobtained fundsto help respond to COVID- 19 and maintain transit services during the emergency. With the increased federal funds available, operating subsidy expendituresforpublic transit will decrease in FY2020/21. The rail maintenance and operationsbudgeted expendituresof $56,083,200 are 21%higherthan the FY 2019/20 budget due to funding received for the special event train platform in the city of Indio, station related improvement projects, and an increase in SCRRA Metrolink capital needs. Toll operations expenses are budgeted at $45,815,000 to manage the operations, maintenance, and capital support of the RCTC 91 ExpressLanesand 15 Express Lanes and to pay interest on toll revenue debt. The 88%increase is due to the opening of the 15 Express Lanes in late 2020 and required repair and rehabilitation activity on the RCTC 91 Express Lanes. 23 Chart 5 isan illustration of total usesincluded in the FY2020/21 budget by major categories. Chart 5 —Uses: Major Categories Rail Maintenance and Operations Toll Operations 3% 3% Public and Specialized Transit 7% Planning and Programming 1% Motorist Assistan 1% Management Service 1% Debt Service 45% Commission Personnel Capital Highway, Rail, and Regional Arterials 36% Capital Local Streetsand Roads 3% CommuterAssistance 0% the Commission's salaries and benefits total $10,932,000for FY2020/21.lhisrepresents a decrease of $8,970,500 or45%overthe FY2019/20 budget of $19,902,500 (Chart 6). The decrease relatesprimarily to the one-time disbursement to fund the Califomia Public Employees Retirement System (CaIPERS) net pension liability of $8.6 million in the prior year and not funding four unfilled positions in FY2020/21. Asa cost saving measure in response to the COVID-19 impacts, the FY2020/21 budget does not include a poolforperformance merit -based salary increasesand suspended the annual salary range cost of living adjustment. The Commission's salary schedule for FY 2020/21 is included in Appendix B and complies with Government Code §20636 "Compensation Earnable" and California Code of Register §570.5, "Requirementsfora Publicly Available Pay Schedule." Chart 6—Salaries and Benefits Cost: Ave -Year Comparison $25,000,000 $20,000,000 $15,000,000 $10,000,000 $5, 0 00, 00 0 $- r FY 16/17 r FY17/18 FY18/19 FY 19/ 20 FY 20/ 21 The 50full-time equivalent (RE) positionsincluded in the FY2020/21 budget (Table 4) reflectsa decrease of fourFTEfrom the FY2019/20 budget due to impactsof COVID-19. lhe fourpositions, currently vacant, remain on the organization chart, although they will be unfunded in FY 2020/21. The Commission accomplished significant organization changes over the past few years related to various projects 24 requiring substantial attention at many staff levels. Management continues to be firmly committed to the intent of the Commission's enabling legislation requiring a lean organization. The Commission will continue providing staff the tools needed to ensure an efficient and productive work environment. However, small should not be viewed in an absolute context; it is relative to the required tasks and the demandsto be met. Table 4-Full-Time Equivalents by Department FY 2018-2020 FY18/19 FY 19/ 20 FY 20/ 21 Executive Management 0.7 0.6 Administration 4.8 5.8 External Affairs 4.3 4.0 Rnance 8.2 9.1 Planning and Programming 4.4 5.4 Rail Maintenance and Operations 2.6 3.6 Public and qpecialized Transit 2.8 2.8 Comm uter Assistance 1.4 1.4 Motorist Assistance 0.9 1.0 Capital Project Development and Delivery 13.4 16.7 Toll Operations 2.8 3.6 TOTAL 46.0 54.0 0.7 5.0 3.6 9.3 5.7 3.4 2.7 1.4 1.1 12.0 5.1 50.0 The Commission providesa comprehensive package of benefitsto employees. The package includes: health, dental, vision, life insurance, short and long-term disability, workers' compensation, tuition assistance, sick and vacation leave, retirement benefits in the form of participation in the CaIPERS, postretirement health care, deferred compensation, and employee assistance program. Chart 7 illustratesthe compensation components. Chart 7-Personnel Salariesand Benefits Other Fringes 9% Hea Ith 13% Salaries 56% Retirement 22% Department Initiatives Staff prepared each department'sbudget based on key acsumptions, accomplishmentsin FY2019/20, major initiatives for FY 2020/21, and department goals and related objectives. Tables 5 through 15 present the key initiatives and summary of expenditures expenses for each department. The department budgetssection containsdetailed discussionsabout each department. Executive Management • Continue project development and delivery asthe key Measure A priority. 25 • Fostergrowth in usage of express lanesand ensure theirfinancial success. • Actively monitor, asss, and manage financial implicationsof the COVID-19 crisis. • Influence and monitorthe implementation of 33 743 related to transportation impactsanalysisand mitigation aspart of CEQA. • Continue planning effortsto advance paqrngerrail service in the Coachella Valley -San Gorgonio Pa ss corridor. • Advocate forstate and federal investmentsin transportation to fund needed transportation priorities in the County and stimulate the local economy. • Maintain regional cooperation and collaboration as a significant effort consistent with the philosophy and mission of the Commission. • Support a comprehensive social media outreach program to build awareness of the Commission and itsrole in the community. • Maintain an effective mid -sized transportation agency with dedicated staff. Table 5-Executive Management FY18/19 Actual FY 19/ 20 Revised Budget FY 19/ 20 FY 20/ 21 Projected Budget Dollar Percent Change Change S3lariesand Benefits $ 372,900 $ Professional Costs Legal cervices 115,400 Professional rvices- General 58,800 Total Professional Costs 174,200 Sipport Costs 60,600 lDTALExecutive Management $ 607,700 $ 445,100 $ 678,700 $ 293,000 $ (152,100) -34% 175,000 206,300 60,000 30,000 235,000 236,300 93,600 74,800 773,700 $ 989,800 $ 200,000 60,000 260,000 91,800 644,800 25,000 (1,800) $ (128,900) 25,000 14% 0% 11% -2% -17% Administra tion • Provide high quality support servicesto the Commission and to internal and external customers. • Maintain transparency and public accessibility to Commission businessduring COVID-19 crisis. • Maintain an accurate and efficient electronic recordsmanagement system. • Invest in an agenda management system to improve efficienciesand enhance transparency. • Provide timely communicationsand high quality support servicesto Commissioners. • Update technology to improve internal procemnsand interaction with the public. • Support and develop a motivated workforce with a framework of activities and practices that comply with employment lawsand regulations. Table 6-Administration FY18/19 Actual FY 19/ 20 Revised Budget FY 19/ 20 FY 20/ 21 Projected Budget Dollar Percent Change Change Salaries and Benefits Professional Costs Commissioner Per Diem Legal Services Professional rvices- General Total Professional Costs alp port Costs Capital Outlay Debt Service TOTAL Administration $ 778,500 $ 1,483,800 $ 1,248,900 47,700 70,300 600,200 65,000 95,000 935,200 45,000 50,000 896,500 718,200 1,095,200 991,500 783,600 1,091,600 989,200 432,300 450,200 275,500 17,500 - - $ 2,730,100 $ 4,120, 800 $ 3,505,100 Ede mal Affairs $ 781,500 65,000 95,000 953,600 1,113, 600 1,272,600 405,000 $ 3,572,700 $ (702,300) -47% 0% 0% 18,400 2% 18,400 2% 181,000 17% (45,200) -10% N/A $ (548,100) -13% • Develop effective partnershipswith transportation providersto communicate a unified message to Congressregarding mobility needs. • Advocate on behalf of Riverside County'sinterestsregarding the implementation of 33743. • Advocate positions in the State Legislature and in Congress that advance the County's transportation interests. • Continue a leadership role in formulating a countywide direction on federal transportation policies. • Conduct a concerted outreach effort to new federal and state representatives on local transportation issues. 26 • Utilize modern technology to support a robust public communication and engagement effort focusing on accessible and transparent communication of the Commission'sprojects. • Develop marketing and communication plans for the RCTC 91 Express Lanes and the 15 Express La nes. Table 7-ExtemaIAffairs FY18/19 FY19/20 FY19/20 FY20/21 Dollar Percent Actual Revised Budget Projected Budget Change Change 83Iariesand Benefits $ 869,300 $ 1,542,000 $ 1,288,300 $ 843,400 $ (698,600) -45% ProfessionaI Costs Legal rvices 38,400 45,000 20,000 35,000 (10,000) -22% Professionals rvices- General 1,115,600 1,066,000 3,063,500 983,500 (82,500) -8% Total Professional Costs 1,154,000 1,111,000 3,083,500 1,018,500 (92,500) -8% Bpport Costs 180,800 612,900 589,000 234,100 (378,800) -62% 10TAL External Affa irs $ 2,204,100 $ 3,265,900 $ 4,960,800 $ 2,096,000 $ (1,169,900) -36% Finance • Proactively monitor, asscss, manage, and minimize COVID-19 crisis financial impacts on the Commission'sprogramsand projectsto the maximum extent possible. • Continue appropriate uses of long- and short-term financing to advance the Commission's 2009 Measure A projects. • Provide support to the 91 ExpressLanesand 15 ExpressLanestoll operationscontractorbackoffices to ensure the proper accounting of toll revenuesand operationsand maintenance costs. • Keep abreast of Governmental Accounting Standards Board technical activities affecting the Commission'saccounting and financial reporting activitiesand implement new pronouncements. • Upgrade the Enterprise Resource Planning (ERP) system to benefit all staff in the management of accounting and project information and automation of a paperlessworkflow system. • Manage a centralized procurementsprocessin orderto strengthen controlsand ensure consistency in the application of procurement policiesand proceduresand adherence to applicable lawsand regulations. • Support outreach activities to encourage disadvantaged business enterprise (DBE) and small businessenterprise (SBE) participation in variouscontracts. Table 8-Finance FY18/19 FY19/20 FY19/20 FY20/21 Dollar Percent Actual Revised Budget Projected Budget Change Change al lariesand Benefits $ 1,221,800 $ 2,523,100 $ 2,684,100 $ 1,625,900 $ (897,200) -36% Professional Costs Legal Services 66,000 240,000 210,000 270,000 30,000 13% Audit Services 502,000 573,700 473,700 622,300 48,600 8% Financial Advisory 128,600 250,000 278,500 275,000 25,000 10% Professional S rvices-General 582,200 1,136,400 942,700 1,193,700 57,300 5% Total Professional Costs 1,278,800 2,200,100 1,904,900 2,361,000 160,900 7% Rapport Costs 341,000 608,800 347,700 608,800 - 0°/ Capital Outlay 107,000 845,000 181,700 913,300 68,300 8% Tra nsfers Out 11,197,100 10,087,900 10,087,900 10,007,700 (80,200) -1% 10TALFinance $ 14,145,700 $ 16,264,900 $ 15,206,300 $ 15,516,700 $ (748,200) -5% Planning and Programming • Monitor funding authority and responsibility related to the Sate Transportation Improvement Program (S11P). • Ensure administration and implementation of S11P/Regional Improvement Program (RIP), Active Transportation Program (A1P), and other funded projects consistent with California Transportation Commission (CTC), Caltrans, and Southern California Association of Governments (AG) policies. • Continue to strategically program projects for all local agencies countywide into the Federal Transportation Improvement Program (F11P) and obligate funds in an expeditious manner for the maximum use of all available funding, including monitoring the use of such funding to prevent from lapsing. 27 • Monitor all projects programmed to receive 2009 Measure A, 1UMF, state, and federal funds to ensure timely delivery and prevent fundsfrom lapsing. • Focuson interregional concernsand maintain effective working relationshipsinvolving variousmulti- county transportation issues, including goodsmovement. • Coordinate planning efforts with regional and local agencies relating to the development of Regional Transportation Plan/Sustainable Communities Strategy (RTP/SCS) and greenhouse gas reduction (GHG) implementation guidelines. • Participate in the CTC and Caltrans'sforumsin preparation and evaluation ofAlPprojectsforthe statewide and Metropolitan Planning Organization (MPO) funding programs to represent the County'sbest interest in program funding. • Administerthe Bicycle and Pedestrian Facilities Program (93821). Table 9-Planning and Programming FY18/19 FY19/20 FY19/20 FY20/21 Dollar Percent Actual Revised Budget Projected Budget Change Change S3lariesand Benefits Professional Costs Legal cervices Audit cervices Rnancial Advisory Professional cervices- General Total Professional Costs aipport Costs Projects and Operations Program Operations Engineering Construction Right of Way ecial audies Operating and Capital Disbursements Total Projectsand Operations Transfers Out lOTALPlanning and Programming $ 854,800 $ 2,223,300 $ 2,614,600 111,500 2,100 4,800 118,400 17,500 146,600 435,900 (29,900) 1,217,800 1,198, 500 73,000 15,000 1,800 1,466,300 114,000 15,000 1,800 858,000 1,556,100 988,800 1,357,000 1,179,100 356,100 273,200 878,000 700,000 4,972,000 - 205,000 75,500 596,000 295,000 1,455,000 1,634,500 2,968,900 8,462,100 2,978,200 435,700 3,223,400 1,673,400 $ 4,395,300 $ 16, 821, 900 $ 9,434,100 $ 1,491,700 79,000 2,000 1,086,500 1,167,500 1,366,900 352,400 600,000 10,000 130,000 850,000 1,230,000 3,172, 400 1,061,400 4 A n'.0 con $ (731,600) -33% 6,000 8% (15,000) -100% 200 11% (379,800) -26% (388, 600) -25% 9,900 1 (3,700) -1 (278,000) -32% (4,962,000) -100% (75,000) -37% 254,000 43% (225,000) -15% (5,289,700) -63% (2,162, 000) -67% $ (8,562,000) -51% Rail Maintenance and Operations • Asa memberof the RRA, continue active participation in the governance and operationsof the Metrolink commuter rail system. • Continue the planning and implementation of capital improvementsat the commuter rail stations in the County, including security and rehabilitation projectsand parking requirements. • Continue to support and evaluate activities related to the Perris Valley Line (PVL) service, such as promoting ridership. • Establish the best approach to build, maintain, and operate cost effective and environmentally sustainable facilitiesthat meet the public'stransportation needs. • Lead the service development process and actively coordinate with all stakeholders along the Coachella Valley -San Gorgonio Passcorridorfor intercity parrf\nger rail service. • Advance the next generation rail feasibility study to evaluate future growth opportunities for pangerrail in the County. • Construct the specialtrainsplatform in the city of Indio to serve the music festivaleventsand reduce congestion. 28 Table 10-Rail Maintenance and Operations FY 18/19 Actual FY 19/20 Revised Budget FY 19/ 20 FY 20/ 21 Projected Budget Dollar Percent Change Change 3ulariesand Benefits $ 547,700 $ Professional Costs Legal Services Professional rvices- General Total Professional Costs Bpport Costs Projects and Operations Program Operations Eng ineering Construction Special udies Operating and Capital Disbursements Total Projects and Operations Capital Outlay Tra nsfers Out TOTAL Rail Maintenance and Operations $ 1,238,000 $ 1,284,900 $ 704,800 $ (533,200) -43% 56,500 225,000 195,000 1,983,000 9,910,900 1,148,500 2,039,500 10,135, 900 1,343,500 2,403,000 3,330,000 3,152,200 2,624,900 2,964,600 2,889,000 600,000 400,000 1,470,000 250,000 82,400 400,000 400,000 19, 793, 500 25, 000, 000 29,147,100 22,500,800 30,434,600 33,086,100 72,900 164,000 179,800 562,900 980,000 980,000 28,126,800 $ 46,282,500 $ 40,026,500 $ 215,000 1,418,100 1,633,100 3,987,600 3,187, 600 550,000 8,971,800 400,000 34,350,000 47, 459, 400 543,500 1,754,800 56,083,200 (10,000) (8,492,800) (8,502,800) 657,600 223,000 (50,000) 7,501,800 9,350,000 17,024,800 379,500 774,800 $ 9,800,700 -4% -86% -84% 20% 8% -8% 510% 0% 37% 56% 231% 79% 21% Public and Specialized Transit • Coordinate the operation of all public transportation services within the County by promoting program efficiency between transit operators. • Coordinate CARESAct allocationsand COVID-19-related service impactswith transit operators. • Continue public transit operator oversight and fiduciary responsibilities to ensure completion of annual fiscal auditsand state triennial performance auditsin accordance with TDA regulations. • Support innovative programsthat provide transit assistance in hard to serve rural areasor for riders having very special transit needsand monitorfunding of these programs. • Continue long-range planning activities to ensure that anticipated revenues are in line with projected levelsof service by transit operators. • Develop a TDA manual fortransit operatorsreceiving allocationsfrom the Commission. Table 11 -Public and Specialized Transit FY 18/ 19 Actual FY 19/ 20 Revised Budget FY 19/ 20 FY 20/ 21 Projected Budget Dollar Percent Change Change S3 lades and Benefits Professional Costs Legal Burvices Audit Services Rnancial Advisory ProfessionoIServices- General Total Professional Costs 3ipport Costs Projects and Operations Saecial audies Operating and Capital Disbursements Total Projects and Operations Tra nsfers Out TOTAL Public and Specialized Transit $ 481,000 $ 895,900 $ 784,000 5,500 49,700 15,400 64,500 135,100 50,500 118,936,200 118, 936, 200 28,088,600 $ 147,691,400 12,000 70,000 16,000 201,700 299,700 69,200 250,000 161,610,400 161,860,400 31,998,400 $ 195,123,600 3,500 70,000 16,100 161,600 251,200 52,800 141,920,900 141,920,900 31,874,500 $ 174,883,400 CommuterAssistance $ 497,900 15,000 17,000 529,900 561,900 79,600 200,000 98,992,700 99,192,700 19,774,100 $ 120,106,200 $ (398,000) -44% 3,000 (70,000) 1,000 328,200 25% -100% 6% 163% 262,200 87% 10,400 15% (50,000) -20% (62,617,700) -39% (62,667,700) -39% (12,224,300) -38% $ (75,017,400) -38% • Evaluate the feasibility of expanding CommuterAssistance servicesand incentivescountywide with the goal of stimulating Transportation Demand Management (TDM) in the Coachella Valley and help enhance employerand commuterTDM participation throughout the region. • Transition from a locally provided Inland Empire -based rideshare and vanpool system to a regional platform. • Maintain and grow employer partnershipsthrough value-added services and toolsfor ridesharing programs. • Launch and aggressively promote a new Telework Program for Riverside County employers. • Maintain the long-term partnership with San Bernardino County Transportation Authority (SBCTA) to manage and implement a "sister" commuterassistance program forresidentsand employersin San Bernardino County. 29 • Optimize park and ride facilitiesto support car/vanpool/buspoolarrangementsand facilitate transit connections. • Seekgrant funding forthe Inland Empire Next Generation 1DM Study. • Operate a cost-effective program within the County that results in reduction of single occupant vehicles. Table 12-Commuter Assistance FY18/19 FY19/20 FY19/20 FY20/21 Dollar Percent Actual Revised Budget Projected Budget Change Change Salaries and Benefits $ 247,600 $ 545,100 $ 776,100 Professional Costs Legal Burvices 13,700 31,000 14,600 Audit Services 10,000 - - Rnancial Advisory 7,700 8,000 8,100 Professionalrvices- General 257,300 503,700 658,200 Total Professional Costs 288,700 542,700 680,900 Support Costs 85,000 285,800 18,400 Projects and Operations Program Operations 2,748,900 3,313,300 2,501,300 Engineering - - - Total Projects and Operations 2,748,900 3,313,300 2,501,300 Tra nsfers Out 1,368,300 302,500 302,500 TOTAL Commuter Assistance $ 4,738,500 $ 4,989,400 $ 4,279,200 Motorist Assista nc e $ 267,400 32,000 20,000 8,000 687,700 747,700 179,700 3,742,000 3,742,000 262,800 $ 5,199,600 $ (277,700) -51% 1,000 3% 20,000 N/A - 0% 184,000 37% 205,000 38% (106,100) -37% 428,700 13% N/A 428,700 13% (39,700) -13% $ 210,200 4% • Maintain a high benefit -to -cost ratio related to the performance of the FSP program and expand service if funding opportunitiesarise. • Transition from a locally provided 1E511 system to a regional southern California 511 solution. • Continue the call box system program to serve asa "safe net" forstranded motoristsin the County. Table 13 -Motorist Assistance FY18/19 FY19/20 FY19/20 FY20/21 Dollar Percent Actual Revised Budget Projected Budget Change Change Salaries and Benefits Pro fessionaI Costs Legal Services Professional Burvices- General Total ProfessionaI Costs S pport Costs Projects and Operations Program Operations Total Projectsand Operations Tra nsfers Out TOTAL Motorist Assistance $ 125,800 $ 306,100 $ 357,000 25,800 297,200 44,500 25,500 477,500 449,500 323,000 148,000 3,581,600 522,000 475,000 426,000 293,300 5,387,400 3,632,400 3,581,600 5,387,400 3,632,400 3,820,400 2,748,200 2,748,200 $ 7,998,800 $ 9,389,700 $ 7,505,900 Capital Project Development and Delivery $ 180,400 45,500 474,000 519,500 199,800 5,452,000 5,452,000 2,616,000 $ 8,967,700 $ (125,700) -41% 1,000 2% (3,500) -1 (2,500) 0% (226,200) -53% 64,600 1% 64,600 1% (132,200) -5% $ (422,000) -4% • Continue project work on the Western County Delivery Plan projects, including the 1-15 Express Lanes, SR60 truck lanes, 91 COP, Mid County Parkway, and Pachappa underpassprojects. • Provide 2009 Measure A funding to the incorporated cities and the County for local streets and roads maintenance, repair, and construction and to the Coachella Valley Association of Governments(CVAG) for highways and regional arterials. • Provide IUMFregional arterial funding and support to localjurisdictionsfor regional arterial project engineering, right of way acquisition, and construction. • Maintain a right of way acquisition and management program in support of capital projectsand in the most cost effective manner within project schedules, while adhering to federal and state regulations. • Maintain and manage the access, use, safety, and security of Commission -owned properties including commuter rail stations, properties in acquisition process, and income -generating properties. • Develop strategiesto implement alternative financing structuresincluding public expresslanes. 30 Table 14 -Capital Project Development and Delivery FY18/19 FY19/20 FY19/20 FY20/21 Dollar Percent Actual Revised Budget Projected Budget Change Change Bulariesand Benefits $ 3,265,200 $ 7,346,700 $ 7,339,100 $ 3,121,600 $ (4,225,100) -58% Professional Costs Legal Bury ices 3,351,300 1,750,300 1,673,300 1,682,000 (68,300) -4% Audit Bury ices 89,600 35,000 39,400 38,000 3,000 9% Rnancial Advisory 99,200 136,400 71,100 78,900 (57,500) -42% Professional Services -General 876,300 5,576,400 1,753,300 2,227,800 (3,348,600) -60% Total Professional Costs 4,416,400 7,498,100 3,537,100 4,026,700 (3,471,400) -46% Sipport Costs 691,300 1,894,900 918,400 2,089,400 194,500 10% Projects and Operations Program Operations 5,652,600 10,370,500 6,761,300 7,592,400 (2,778,100) -27% Engineering 13,111,500 23,271,000 20,945,500 26,225,000 2,954,000 13% Construction 53,145,600 148,302,100 106,029,600 201,788,200 53,486,100 36% Design Build 107,589,300 158,341,500 135,100,000 100,621,100 (57,720,400) -36% Right of Way and Land 19,710,500 92,508,500 34,220,500 58,233,600 (34,274,900) -37% Local Sreetsand Roads 61,069,300 54,061,300 54,061,300 48,479,100 (5,582,200) -10% Regional Arterials 19,203,900 30,967,000 25,000,000 30,000,000 (967,000) -3% Special 3udies 27,900 1,800 - - (1,800) -100% Operating and Capital Disbursements 3,944,100 15,000,000 831,600 850,000 (14,150,000) -94% Total Projects and Operations 283,454,700 532,823,700 382,949,800 473,789,400 (59,034,300) -11% Capital Outlay 4,995,900 4,293,500 3,597,000 3,787,000 (506,500) -12% Debt Service 69,555,700 69,537,500 69,534,500 69,519,000 (18,500) 0% Transfers Out 89,619,700 114,346,100 117,551,100 140,752,100 26,406,000 23% TOTAL Capital Project Development and Delivery $ 455,998,900 $ 737,740,500 $ 585,427,000 $ 697,085,200 $ (40,655,300) -6% Toll Opera tions • Manage the operations of the RCTC 91 Express Lanes and 15 Express Lanes adhering to the Commission's ExpressLanestoll policies. • Monitor, manage, and adjust toll operationsasneeded in response to COVID-19-related changes in traffic volumesand patterns. • Manage toll operations using investment grade traffic and revenue studies and cost estimate assumptionsspecific to each expresslane facility. • Continue 15 ExpressLanestoll planning through development of businessrules. • Provide timely and effective reporting of toll operation metrics including revenue, transactions, carpool usage, and performance indicators. • Participate in the California Toll Operators Committee (CTOC) to advance regional and statewide tolling initiatives, technology, interoperability, and coordination among California toll agencies. Table 15-Toll Operations FY18/19 FY 19/ 20 FY 19/ 20 Actual Revised Budget Projected FY20/21 Dollar Percent Budget Change Change at lariesand Benefits Professional Costs Legal Services Audit cervices Financial Advisory Professional rvices- General Total Professional Costs sjpport and Maintenance Costs Projectsand Operations Program Operations Construction Design Build Total Projects and Operations Capital Outlay Debt Service Transfers Out TOTAL Toll Operations $ 578,400 $ 1,353,400 $ 846,200 206,100 59,000 824,500 350,000 47,000 75,000 2,505,500 250,000 46,000 96,100 2,066,200 1,089,600 3,235,100 6,779,300 2,977,500 2,458,300 4,543,300 3,450,700 11, 670, 200 8,536,900 200,000 6,779,300 11,670,200 8,736,900 1,096,700 766,100 426,000 7,119, 900 637, 386, 500 7,119, 900 4,309,100 3,059,500 2,539,700 $ 24, 208,100 $ 661, 756, 500 $ 25, 577, 700 $ 1,124,400 1,140, 000 64,800 150,000 7,211,100 8,565,900 7,637,700 24,901,800 1,500,000 400,000 26,801,800 315,000 653, 314, 900 1,370,200 $ 699,129,900 $ (229,000) -17% 790,000 226% 17,800 38% 75,000 100% 4,705,600 188% 5,588,400 188% 3,094,400 68% 13,231,600 113% 1,500,000 N/A 400,000 N/A 15,131, 600 130% (451,100) -59% 15,928,400 2% (1,689,300) -55% $ 37,373,400 6% 31 Fund Balances the projected total fund balance as of June 30, 2020 is$821,472,70O. lhe Commission expects the FY 2020/21 budgeted activitiesto result in an $114,313,700 decrease of total fund balance at June 30, 2021 to $707,159,000. lhe primary cause of the decrease is project activities in FY2O2O/21 related to the 1-15 ExpressLanesproject, Mid County Parkway project, rail station rehabilitation and maintenance, Western County Measure A and lUMFregional arterial projects, and public transit allocations. Table 16 presents the componentsof the projected fund balance by program at June 30, 2021. Table 16—Projected Fund Balances by Fund Type and Program at June 30, 2021 Measure A SalesTax Western County Coachella Valley Palo Verde Other Total Restricted: Bond Rnancing $ 10,791,500 $ - $ $ - CommuterAssistance 14,729,800 - Debt Service - - 15,782,200 Economic Development 8,200,300 - - - Highways 10,732,600 36,261,300 68,684,900 Advances/LoansReceivable - - Local 3reetsand Roads 1,300 1,300 600 New Corridors 24,836,300 Planning and Programming - - 1,188,000 Public and arecialized Transit 7,238,900 370,200 172,397,700 Ra i l 29, 865,100 - 16, 592, 800 C ETA P - - 38, 921, 000 Regional Arterials 49,242,300 - 48,801,400 Motorist Assistance - - - 10,097,800 Toll Operations - 139,081,700 Assigned: Management Services TOTAL Fund Balance $ 155, 638,100 $ 36, 632, 800 $ 3,340,000 600 $ 514,887,500 $ 10,791,500 14, 729, 800 15, 782, 200 8,200,300 115, 678, 800 3,200 24, 836, 300 1,188, 000 180, 006, 800 46, 457, 900 38,921,000 98, 043, 700 10, 097, 800 139, 081, 700 3,340,000 $ 707,159,000 Chart 8 illustrates the actual and projected trends in fund balances for each governmental and enterprise fund type from FY2O17/18 through FY2020/21. Chart8—Projected Fund Balance Trends by Fund Type FY2018-2021 $705,000,000 $605,000,000 $505,000,000 $405,000,000 $305,000,000 $205,000,000 $105,000,000 $5,000,000 General Fund Budget Summary Special Revenue Capital Projects Debt Service Fund Enterprise Fund Funds Funds VFY17/18 YFY18/19 .+FY 19/20 idFY20/21 the overall budget for FY 2020/21 is presented in Table 17 by summarized line items, Table 18 by operating and capital classifications, and Table 19 by fund type. Highway, rail, and regional arterial program expendituresby project are summarized in Table 20. 32 Table 17 - Budget Comparative by Summarized Line Item FY 2019-2021 FY 18/ 19 Actual FY 19/ 20 FY 19/ 20 Revised Budget Projected FY20/21 Budget Dollar Change Percent Change Revenues Measure A Sales Tax L1FSales Tax SfA S3 le Ta x Federal Reimbursements Mate Reimbursements Local Reimbursements IUMFRevenue Tolls, Penalties, and Fees Other Revenue Investment Income TOTAL Revenues Expend itures/ Expenses Personnel Salariesand Benefits Professional and Sap port Professional Services flapport Costs 1O1ALProfessionaI and alp port Costs Projects and Operations Program Operations Engineering Construction Design Build Right of Way/Land Operating and Capital Disbursements aoecial 3udies Local areetsand Roads Regional Arterials TOTAL Projects and Operations Debt Service Principal Payments Interest Payments Cost of Issuance TOTAL Debt Service Capital Outlay TOTAL Expenditures/Expenses Excess (d eficiency) of Revenues over (under) Expend ituresfExpenses Other Rnancing SD urces (Uses) Tra nsfers In Tra nsfers Out Debt Proceeds 11RA Loan Proceeds Payment to Escrow Agent Bond Premium Net Rnancing Sources (Uses) Excess(deficiency) of Revenues over (under) Expend ituresrExpensesand Other Rnancing Sources(Uses) Beginning Fund Balance ENDING FUND BALANCE $ 201,205,000 $ 178,000,000 $ 103,819,400 91,000,000 27,201,800 31,050,600 67,752,600 89,718,700 64, 007, 900 160, 896,100 6,933,900 9,858,900 29, 968, 500 17, 240, 000 58,423,500 67,201,100 6,264,700 652,000 23,050,800 9,500,000 178,000,000 91,000,000 28,697,900 42,514,800 123,494, 700 3,835,700 17,240,000 49,622,000 653,700 10,741,400 588,628,100 655,117,400 545,800,200 9,343,000 19, 902, 500 19, 901, 900 11,735,900 28,173,300 15,951,000 7,996,400 14,313,100 11,065,600 19, 732, 300 21,533,900 13,547,400 53,145, 600 107, 589, 300 19,680,600 143,872,300 1,328,100 61,069,300 19,203,900 42,486,400 34,062,100 24,749,000 154,744,100 158,341,500 92,713,500 203,065,400 1,247,800 54,061,300 30,967,000 27,016,600 24,594,100 22,045,500 106,279,600 135,300,000 34,296,000 173,534,100 695,000 54,061,300 25,000,000 440,970,400 753,951,700 575,805,600 25, 977, 500 50, 715, 600 76, 693,100 6,704,800 511,816,600 49,412,400 2,720,000 563,949,000 6,518,800 27, 245, 000 49,409,400 76, 654, 400 4,660,000 553, 443, 600 1,386,808,400 704,038,500 35,184,500 (731,691,000) (158,238,300) 139,401,800 (139,401,800) 14,946,100 166,746,000 (166,746,000) 625,425,000 75, 703, 000 (142,975,000) 39, 967, 400 14,946,100 598,120,400 167, 757, 300 (167, 757, 300) 89,896,000 89, 896, 000 50,130,600 (133,570,600) (68,342,300) 839,684,400 889,815,000 889,815,000 $ 889,815,000 $ 756,244,400 $ 821,472,700 $ 160,000,000 82, 000, 000 28, 656, 900 103,695,200 155, 006,100 18,565,100 15,500,000 42, 258, 900 621,500 3,545,500 609, 849, 200 10,932,000 21,975,400 17, 748, 000 39,723,400 45, 228, 200 27,375,000 212, 270, 000 101,021,100 58,363,600 135,422,700 1,450,000 48,479,100 30,000,000 659,609,700 513, 066, 600 59,395,900 2,883,400 575, 345, 900 5,963,800 1,291,574,800 (681,725,600) 177,599,100 (177, 599,100) 627, 550, 000 47,371,900 (147,488, 000) 39, 978, 000 567,411,900 (114,313,700) 821,472,700 $ 707,159,000 $ (18,000,000) (9,000,000) (2,393,700) 13,976,500 (5,890,000) 8,706,200 (1,740,000) (24,942,200) (30,500) (5,954,500) (45,268,200) (8,970,500) (6,197,900) 3,434,900 -10% -10% -8% 16% -4% 88% -10% -37% -5% -63% -7% -45% -22% 24% (2,763,000) 11,166,100 2,626,000 57, 525, 900 (57,320,400) (34,349,900) (67,642,700) 202,200 (5,582,200) (967,000) (94,342,000) 1,250,000 9,983,500 163,400 11,396,900 (555,000) -7% 33% 11% 37% -36% -37% -33% 16% -10% -3% -13% (95,233,600) 0% 20% 6% 2% -9% -7% 49,965,400 10,853,100 (10, 853,100) 2,125,000 (28,331,100) (4,513,000) 10,600 (30,708,500) -7% 7% 7% 0% -37% 3% 0% -5% 19,256,900 -14% (68,342,300) -8% $ (49,085,400) -6% 33 Table 18 - Operating and Capital Budget FY 2020/21 FY20/21 FY20/21 FY20/21 Operating Budget Capital Budget 1OTALBudget Revenues Measure A Sa lesTax L1F53lesTax S1\ BaIesTax Federal Reimbursements Sate Reimbursements Local Reimbursements IUMFRevenue Tolls, Penalties, and Fees Other Revenue Investment Income 1OTAL Revenues Expenditures/Expenses Personnel 931a ries a nd Benefits Professional and Sipport Professional Services Sapport Costs TOTAL Professional and Sapport Costs Projects and Operations Program Operations Engineering Construction Design Build Right of Way and Land Operating and Capital Disbursements ecial Sudies Local areetsand Roads Regional Arterials 1OTALProjects and Operations Debt Service Principal Payments Interest Payments Cost of Issuance 1O1AL Debt Service Capital Outlay 1OTAL Expenditures/ Expenses Excess(deficiency) of Revenues over (under) Expenditures/ Expenses Other Fnancing Sburces(Uses) Transfers In Transfers Out Debt Proceeds 11FA Loan Proceeds Bond Premium Payment to Escrow Agent Net Fnancing SD urces (Uses) Excess(deficiency)of Revenues over (under) Expenditures/Expensesand Other Fnancing SD urces (Uses) Beginning Fund Balance ENDING FUND BALANCE $ 22,110,000 82,000,000 28,656,900 28, 326, 900 15,023,900 2,214,400 14,053,900 $ 137,890,000 75,368,300 139,982,200 16,350,700 15,500,000 28,205,000 621,500 1,205,100 2,340,400 193, 591,100 416, 258,100 6,545,700 4,386,300 9,362,800 12,612,600 8,020,900 9,727,100 17,383,700 12,383,600 550,000 8,971,800 134, 572, 700 1,450,000 22, 339, 700 32, 844, 600 26, 825, 000 203,298,200 101,021,100 58, 363, 600 850,000 48,479,100 30, 000, 000 157,928,100 501,681,600 513,066,600 59,395,900 2,883,400 2,883,400 1,861,800 572,462,500 4,102, 000 186, 602, 700 1,104, 972,100 6,988,400 (688,714,000) 28, 895, 200 148, 703, 900 (35,476,800) (142,122,300) 627,550,000 47,371,900 39,978,000 (147,488, 000) 660,946,400 (93,534,500) 667,934,800 (782,248,500) 245, 072, 900 576, 399, 800 $ 913,007,700 $ (205,848,700) $ 160,000,000 82,000,000 28,656,900 103,695,200 155,006,100 18,565,100 15, 500, 000 42, 258, 900 621,500 3,545,500 609, 849, 200 10, 932, 000 21,975,400 17, 748, 000 39,723,400 45, 228, 200 27, 375, 000 212,270,000 101,021,100 58, 363, 600 135,422,700 1,450,000 48,479,100 30, 000, 000 659,609,700 513,066,600 59,395,900 2,883,400 575, 345, 900 5,963,800 1, 291, 574, 800 (681,725,600) 177, 599,100 (177, 599,100) 627, 550, 000 47,371,900 39, 978, 000 (147,488, 000) 567,411,900 (114, 313, 700) 821,472,700 $ 707,159,000 Table 19 - Budget by Fund Type FY 2020/21 FY20/21 General Fund Special Revenue Capital Projects Debt Service Enterprise 1O1ALBud get Revenues Measure A SBIesTax L1FSalesTax SIA S3IesTax Federal Reimbursements State Reimbursements Local Reimbursements IUMFRevenue ToIls, Penalties, and Fees Other Revenue Investment Income 1OTAL Revenues $ $ 160,000,000 $ - $ - $ 82,000,000 - 28,656,900 - - 22,000,000 78,805,100 2,812,100 78,000 3,581,400 151,424,700 - - 1,700 18,563,400 15,500,000 525,000 131,600 2,301,800 341,700 78,500 42,258,900 96,500 691,900 25,714,700 537,776,900 341,700 2,890,600 43,125,300 Expend itures/ Expenses Personnel %lades and Benefits 5,790,100 4,017,500 1,124,400 Professional and Support Professional Services 6,482,800 6,926,700 8,565,900 Support Costs 4,002,900 6,107,400 7,637,700 1OTALProfessional and Support Costs 10,485,700 13,034,100 16,203,600 Projects and Operations Program Operations 2,000 20,324,400 - 24,901,800 Engineering - 27,375,000 Construction 1,250,000 209,520,000 - 1,500,000 Design Build 100,621,100 - 400,000 Right of Way/Land 58,363,600 - - Operating and Capital Disbursements 35,580,000 99,842,700 Special Studies 1,450,000 Local areetsand Roads 48,479,100 Regional Arterials - 30,000,000 1OTALProjects and Operations 38,282,000 594,525,900 26,801,800 Debt Service Principal Payments - 28,495,000 484,571,600 Interest Payments - 41,024,000 18,371,900 Cost of Issuance - 2,883,400 1O1ALDebt Service - 69,519,000 505,826,900 Capital Outlay 1,318,300 4,330,500 - 315,000 1OTALExpend itures'Expenses 55,876,100 615,908,000 69,519,000 550,271,700 Excess (d eficiency) of Revenues over (under) Expend ituresfExpenses Other Financing Sources(Uses) Transfers In TransfersOut Debt Proceeds 11FIA Loan Proceeds Bond Premium Payment to Escrow Agent Net Rnancing Sources (Uses) Excess (deficiency) of Revenues over (under) Expend itures/Expensesand Other Fnancing Sources (Uses) (30,161,400) 25, 579,100 (2,247,200) (78,131,100) 80,599,000 (146, 898,100) 47,371,900 341,700 (24,271,500) (66,628,400) (507,146,400) 69, 519, 000 1,902,000 (2,812,100) (1,370,200) 627,550,000 39, 978, 000 (147,488, 000) 23,331,900 (18,927,200) (24,271,500) 66,706,900 520,571,800 (6,829,500) Beginning Fund Balance 27,930,000 (97,058,300) (23,929,800) 559, 568,100 92, 614, 500 78,500 13,425,400 15,703,800 125,656,300 ENDING FUND BALANCE $ 21,100,500 $ 462,509,800 $ 68,684,700 $ 15,782,300 $ 139,081,700 $ 160,000,000 82, 000, 000 28, 656, 900 103, 695, 200 155, 006,100 18, 565,100 15, 500, 000 42, 258, 900 621,500 3,545,500 609, 849, 200 10, 932, 000 21,975,400 17, 748, 000 39,723,400 45, 228, 200 27, 375, 000 212, 270, 000 101,021,100 58, 363, 600 135, 422, 700 1,450,000 48, 479,100 30, 000, 000 659, 609, 700 513, 066, 600 59, 395, 900 2,883,400 575, 345, 900 5,963,800 1,291,574,800 (681,725,600) 177, 599,100 (177, 599,100) 627, 550, 000 47, 371, 900 39, 978, 000 (147,488, 000) 567,411,900 (114,313,700) 821,472,700 $ 707,159,000 35 Table 20 — Highway, Regional Arterial, and Rail Programs FY 2020/21 Description HIGHWAY ENGINEERING 71/91 connector Grade separation projects 1-15 Express Lanes —Southern Extension Mid County Parkway (MCP) MCP 1-215/Placentia interchange MCP Sweeney mitigation MCP construction contract package 9R91 corridor operations project Pachappa underpass Riverside County-93nta Ana River Trail (detailspresented in Sections5.2Planning and Programming and 5.3 Capital Projects) 9Z-79 realignment 9R-60 truck lanes General (detailspresented in Sbction 5.3 Capital Projects) SJBTOIAL HIGHWAY EN G IN EBZIN G REGIONAL ARTERIAL EN G IN EERIN G 1-15 Railroad Canyon interchange I-10 Highland BoringsAvenue interchange SJBTOIAL REGIONAL ARTERIAL EN G IN EBRIN G RAIL ENGINEERING Moreno Valley March Reid station upgrade Riverside layover facility Riverside Downtown station track and platform Other -Coachella Valley-ain Gorgonio Pass conid or (detailspresented in 52ction 6.2Rail) SUBTOTAL RAIL ENGINEERING TOTAL HIGHWAY, REGIONAL ARTERIAL, AND RAIL ENGINEERING HIGHWAY CONSIRUC11ON 15/91 Express Lanes connector 91 corridor operationsproject 91 Project 91 Express Lanes Hamner bridge widening 1-15 Express Lanes I-15/Umonite interchange Jurupa Avenue grade separation MCP I-215/Placentia interchange MCP Sweeney mitigation Pachappa underpass Riverside County-93nta Ana River Trail (detailspresented in Sbctions5.2Planning and Programming and 5.3 Capital Projects) 9R60 truck lanes General (detailspresented in Sbction 5.3 Capital Projects) SJBTOIALHIGHWAY CONSIRUCIION REGIONALAkIEHIAL CONSIRUC11ON 1-15 Railroad Canyon Interchange Va rio us Westem County MARA and IUMFregionaI arterial projects SJBTOIAL REGIONAL ARTERIAL C O N SIRUC 11O N RAIL CONSIRUCIION Moreno Valley March Reid station upgrade Riverside layover facility Riverside -La Serra station improvements Other Riverside Downtown station mobility improvements(costsand detailsprewnted in .action 5.2Rail) Other -Coachella Valley -San Gorgonio Pass corridor(details presented in Sbction 5.2R9i1) SJBTOTAL RAIL C O N SIRUC 11O N TOTAL HIGHWAY, REGIONAL ARTERIAL, AND RAIL CONSTRUCTION $ 3,000,000 7,000,000 5,500,000 500,000 500,000 50,000 4,000,000 265,000 100,000 600,000 300,000 50,000 400,000 22, 265, 000 700,000 140,000 840,000 1,000,000 20,000 2,700,000 550,000 4,270,000 $ 27,375,000 $ 3,072,000 36,242,000 1,471,000 1,500,000 5,425,000 14, 672, 000 1,500,000 5,000,000 29, 500, 000 155,000 13, 832, 000 10,000 42, 716, 000 190,000 155, 285, 000 24,900,000 13,488,400 38,388,400 224,800 9,300,000 100,000 1,250,000 7,721,800 18, 596, 600 $ 212,270,000 36 Description HIGHWAYDESGN BUILD 15/91 Express Lanesconnector 91 conidoroperationsproject 91 Express Lanes 91 Project 1-15 Express Lanes TOTAL HIGHWAY DESiGN BUILD HIGHWAYRIGHTOFWAYAND LAND 15/91 Express Lanesconnector 60/215 East Junction high occupancy vehicle (HOV) lane connectors 71/91 connector 91 Project 91 conidoroperationsproject Hamner bridge widening Jurupa Avenue grade separation Mcl0nleyAvenue grade separation MCP MCP I-215/Placentia interchange SR-60 truck lanes Pachappa underpass Riverside County -Santa Ana Flyer Trail (detailspresented in 52ctions5.2Planning and Programming and 5.3 Capital Projects) 5t-74/I-15to 7th 3reet SR-91 HOV Ianes/Adamsareet to 60/91/215 interchange General (detailspre.rented in 52ction 5.3 Capital Projects) 31BTOTALHIGHWAY RIGHTOFWAYAND LAND REGIONAL ARTERIAL RIG HTO F WAY AN D LAND 1-15 Railroad Canyon interchange Various Western County MARA and IUMFregionaI arterial projects SJBTOTALREGIONAL ARIFRIALRIG HTOFWAY AND LAND RAIL RIG HTOFWAYAND LAND Flversde layover facility Rverside Downtown station track and platform General SJBIOTAL RAIL RIG HTOF WAYAND LAND TOTAL HIGHWAY, REGIONAL ARTERIAL, AND RAIL RIG HT OF WAY AND LAND GRAND TOTAL HIGHWAY, REGIONAL ARTERIAL, AND RAIL PROGRAMS $ 46,125, 000 215,000 400,000 2,638,100 51,643,000 $ 101,021,100 $ 1,032,000 5,000 700,000 10, 373, 000 275,000 75,000 12, 000, 000 3,000,000 6,900,000 16,150, 000 110,000 170,000 130,000 5,000 5,000 676,100 51,606,100 825,000 4,135,000 4,960,000 70,000 1,600,000 127,500 1,797,500 $ 58,363,600 $ 399.029.700 37 Gann Appropriations Limit In November 1979, the votersof the State approved Proposition 4, commonly known asthe Gann Initiative (Gann). the proposition created Article XIIIB of the Sate Constitution, placing limits on the amount of revenue that can be spent by public agencies from the "proceeds of taxes." In 1980, the State Legislature added Section 7910 to the Government Code, providing that the governing body of each local jurisdiction must establish, by resolution, an appropriations limit for the following year. the appropriations limit for any fiscal year isequal to the previous year's limit adjusted for population changesand changesin the California per capita income. the Commission is subject to the requirements of Article XIIIB. Gann appropriations limits are calculated for and applied to the Commission. In accordance with the requirements of Article XIIIB implementing legislation, the Board approved Resolution No. 20-009 on June 10, 2020, establishing appropriations limits for the Commission at $509,885,755. the FY 2020/21 budget appropriated $270,844,800 in taxesforthe Commission, falling well within the limitsset by the Gann. Based on historic trendsand future projections, it appearsthe Commission's use of the proceeds of taxes, asdefined by Article XIIIB, will continue to fall below the appropriations limit. the calculation for the FY2020/21 appropriations limit isasfollows: I FY 2019/20 Appropriations Limit $487,698,077 IFY 2020/21 adjustment: x 1.0454947 • Change in California per capita personal income 1.0373% ((3.73+ 100)1 100 = 1.0373) • Change in Population, Riverside County •Calculation of factor for FY 2019/20 1.0079% ((0.79 + 100)1 100 = 1.0079) 1.0373 x 1.0079 = 1.0454947 IFY 2020/21 Appropriations Limit $509,885,762 4487,698,077 x 1.0454947 = $509,885,762 Source: California per capita income —California Department of Finance Population, Riverside County —California Department of Finance 38 Financial Overview Fiscal Accountability Policies As the steward of local, state, and federal resources, RCTC maintains financial policies that promote fiduciary responsibility and organizational excellence. 1112111=120= Balanced Budget Administration Retirement Benefits Capital Projects RCTC adopts an annual budget in which operating and capital expenditures and other financing uses are equal to or less than identified revenuesand otherfinancing sourcesaswell asavailable fund balances. Allocations from local and state sources and toll operations fund administrative costs, including salariesand benefits. o Administrative salaries and benefits cannot exceed 1% of Measure A salestax revenues. o Administrative costs will not exceed 4%of Measure A sales tax revenues (inclusive of the 1%salary limitation). RCTC contributes 100% of the annual requirement related to its proportionate share of the net pension liability and to the postretirement health care benefits. Multi -year capital projects are consistent with the strategic plan and budgeted by fiscal year, based on best available estimates. RCTC establishes and maintains reserves in accordance with Measure A and TDA policiesaswell asdebt agreements. Revenues Funding Sources Sale of Properties RCTC preparesannual and mid -year revised revenue projectionsto ensure use of current and relevant data; staff may adjust amounts during the budget processto reflect the most current economic trends. ROTC -adopted policies establish congestion pricing in order to optimize throughput on toll facilities while generating revenue to meet all financial commitmentsrelated to: o Debt issued to construct or repair any portion of the toll facility, payment of debt service, and satisfaction of other covenants and obligations related to indebtednessof the toll facility, including applicable reserves; o Development, maintenance, repair, rehabilitation, improvement, reconstruction, administration, and operation of the toll facilities, including toll collection and enforcement and applicable reserves; and o Projectswithin the corridorthat generated the revenue. RCTC uses local funding sources to maximize federal and state funding of projects. RCTC returns proceeds from the disposition of excess properties to the programsthat provided the funding sourcesforthe property acquisition. Expenditures) Expenses Prio ritie s Accountability RCTC reviewsestablished prioritiesforplanning and programming of capital projectsannually. RCTC comparesactual expenditures'expensesto the budget on at least a quarterly basis and appropriately notes, explains, and justifies sgnificant deviations. RCTC ensures competitive, transparent, objective, and fair procurement selection proceoccsin accordance with policiesadopted on September11, 2019. 39 Capital and Intangible Assets On a government -wide basis, RCTC recordscapital and intangible assetsat historical costs, estimated historical costs if purchased or constructed, or estimated fair value at date of donation. RCTC maintains such ascctsin a state of good repair and safeguards them from misuse and misappropriation. o RCTC generally does not capitalize infrastructure, which title will be vested with Caltransorothergovernmental agency. o RCTC depreciates capital and amortizes intangible asccts over the estimated useful life or service concession term. Debt Mana •ement Outstanding sales tax revenue debt cannot exceed $975 million, in accordance with Measure K approved by a majority of the voters in November 2010; RCTC can issue toll -supported debt for specific highway projectsbased on amountsauthorized by the Commission. RCTC maintainsand updatesthe Debt Management Policy, asadopted on March 11, 2020, and Interest Rate SNap Policy, asadopted July 12, 2006, for mattersrelated to salestax revenue and toll -supported indebtedness. RCTC maintainsdebt coverage ratiosof 2.0x on all senior salestax revenue debt and 1.3xon all toll -supported debt. RCTC issues debt for major capital projects including engineering, right of way, construction, and design -build; RCTC will not finance operating requirements except for initial toll operations Costs of issuance, including the standard underwriter's discount, do not exceed 2% unless specifically authorized. All salestax revenue debt maturespriorto the termination of 2009 Measure A on June 30, 2039; all toll -supported debt maturespriorto the expiration of toll facility agreements. Management Receipts RCTC invests funds in order of priority (safety, liquidity, and yield) in accordance with the Investment Policy, adopted on March 13, 2019, or debt agreements. Where possible, RCTC encourages receipt of funds by wire transfer to its accounts. RCTC makes cash disbursements to local jurisdictions and vendors/consultantsin a timely manner. RCTC maintains amounts in the bank operating account at the amount necessary to meet monthly expenditures/expenses. Accountin• and Financial Re.ortin Accounting System RCTC maintains an ERP system that integrates project and toll operations accounting needsand improvesaccounting efficiency. RCTC issues a Comprehensive Annual Financial Report (CAFR); separate financial reports for the OF, STA, Proposition 1BRehabilitation and Security Project Accounts, SB 1 SGR Program, Low Carbon Transit Operations Program (LCTOP), and toll operations; and the State Controller's Transportation Planning Agency Financial Transactions Report and Government Compensation in California Report. An independent accounting firm conducts an annual audit of the Commission's accounting books and records; RCTC obtains audits of Measure A and TDA funding recipientsforcompliance and othermattersin a timely manner. 40 Functional Management Unlike many governments that provide direct services to the public, the Commission's overall responsibility is to manage transportation planning and funding for the County. As a result, its budget in terms of dollars, is comprised primarily of capital -related programs and projects; the operating component of the budget isrelated to toll operationsand multimodal programs(transit planning, rail operations, and commuterand motorist assistance services). Management services, consisting of executive management, administration, external affairs, and finance, provide support to both capital and operating programs and projects. Chart 9 depictsthe organization of the Commission'soversight and management functions. Chart 9 — Functional Organization Chart FY 2020/21 Board of Commissioners Policy Committees • WRC Programs & Projects • Toll Policy & Operations • Budget & Implementation Advisory Committees • Technical Advisory • Citizens Advisory Executive Committee MEN Executive Management Administration Clerk of the Board & Board Relations Claims Administration Human Resources Office & Records Management Information Technology Rnance Budget Development — Contract Management & Procurement Disadvantaged Business Enterprise Rnancial Management Insurance Administration Investment Management Debt Management External Affairs Goods Movement _ Legislative Advocacy& Analysis Media Relations — Public Information & Communications Multimodal Programs Call Box Program — Commuter Assistance Freeway Service Patrol Rail Operations Transit Planning Capital Project Development & Delivery Congestion Management - Highway& Rail Capital Programs New Corridors Property Management Regional Transportation Plan Sate Transportation Improvement Program - lUM F Pro g ram -nation Maintenance Toll 3/stem Development Operations Rnancing Chart 10 illustrates the relationship between the Commission's functional management or departmentsand the Commission'sfund structure. 41 Chart 10 —Relationship of Functional Management and Fund Structure Special Revenue Capital DebtService Functional Mane •ement/De.ailment General Fund Fund Pro'ectsFund Fund Ente .rise Fund Management cervices Executive Management Administration External Affairs Finance Regional Programs Planning and Programming services X Rail Maintenance and Operations X Public and Specialized Transit X CommuterAssistance Motorist Assistance Capital Projects Development and Delivery Toll Operations Budget Process X X X X X X X X X X X X X X X The budget isthe primary performance tool used to measure and control accountability of public agenciesfortaxpayerdollars. The budget communicatesto all stakeholders(i.e., elected officials, regional agencies, and citizens) how the investment they made will be put to use by providing detailed information on the specifics of resource allocation and uses. The Commission monitors progresson a monthly basis, and it makesrevisionsand updatesasnecessary to reflect changing dynamicsand accommodate unplanned requests. Thisresultsin a budget document that isuseful and meaningful as a benchmark against which to evaluate government accomplishments and/orchallengesand to asscsscompliance with fiscal accountability. The budget process consists of six primary tasksconducted in phasesthroughout the fiscal year. Chart 11 illustrates the budget process for the development of the FY 2020/21 budget and monitoring of the FY2019/20 budget. Each task issummarized below. Chart 11 — Budget Process ID Task Name Duration 2019 2020 J AISIOIN D JIFIM A MIJ 1 Short Term Strategic Direction Phase 140 days y _ 2 Resource Identification and Allocation Phase 200 days y 3 Needs Assessment Phase 120 days 4 Development and Review Phase 150 days y 5 Adoption and Implementation Phase 60 days 6 Budget Roles and Responsibilities 366 days y Short -Tenn Strategic Direction Phase The first phase of the budget processisto determine the direction of the Commission in the short- term and to integrate this with the Commission's long-term goals and objectives, including the Western County Delivery Plan asupdated and discussed in the Capital Project Development and Delivery department section.Annuallya workshop isheld forthe Board to evaluate and determine 42 where the Commission plans to be and what it desires to accomplish over the next five to ten years. Annual reviews allow for timely responsiveness to any significant political, legislative, or economic developments that may occur locally, statewide, or nationally. Staff then adjusts its course based on the long-term strategic direction of the policy makers. Staff convenes beginning in early January to both assactual results, compared to the current year budget, and map changes in strategy for the ensuing fiscal year. Additionally staff reviews and, if necessary, updatesCommission goalsand departmental mission statements. Those goals, upon review by the Board, become the Commission'sshort-term strategic direction. Resource Identification and Allocation Phase Simultaneous with the short-term strategic direction phase, staff focuses on available funding sourcesand estimated carryoveramountsfrom the current year. The Commission analyzesitsfund balances, the excessoffund artsoverfund liabilities, foravailable appropriation in the following fiscal year. In actuality, resource identification occursthroughout the year, but it isfinalized in the upcoming fiscal year budget. In connection with the long-term strategic planning process, the Commission determines borrowing needs, but it adjusts such amounts in the annual budget to reflect current information. Needs Assessment Phase Staff and consultants evaluate projects and studies for consideration in the next year. Project priority and sequencing set in the long-term strategic plan are the top candidates for budget submission. However, priorities may have changed due to economic necessities or political realities, resulting in rescheduling projectsby acceleration orpostponement. lhe Commission may add new projectsordelete existing priorities. Development and Review Phase Using all the data and information gathered from the previously mentioned stages, department managers submit their desired budgets to the Finance Department. Finance staff compiles the information, along with staff and overhead allocations, into a preliminary or draft budget. After review by the Executive Director and inclusion of the desired changes, staff presents the draft budget to the Board for input. Adoption and Implementation Phase Staff submits the proposed budget to the Commission no later than its June meeting, and the Commission conductsa public hearing to allow forpublic comment on the proposed budget. The Commission may choose, after the public hearing, to adopt the budget or to request additional information and/or changes to the budget. lhe budget, including the salary schedule, must be adopted no later than June 15 of each year. Upon adoption by the Commission, staff entersthe budget into the ERP system effective July 1 forthe next fiscal year. Budget Roles a nd Responsibilities Involvement in the budget permeates all staffing levels, as presented in the staff organization chart in Appendix B, at the Commission from clerical support staff to policy makers. Each program manager develops a detailed line item budget that consists of the operating and/or capital componentsand submitsthose budgets, by program, to the department director for review and concurrence. While all departments have operating components, Rail station operations and 43 maintenance and Toll Operations represent the Commission's primary operation functions that consider long-range planning. Details on these operations are included in the Rail and Toll Operationsdepartment sections, respectively. the department managerssubmit their budgetsto the Chief Financial Officer by mid -March, and the Finance Department compilesthe department budgets. Both the capital and operating budgets are combined into the draft budget for the entire Commission. the Chief Financial Officerand Executive Director review the entire budget for overall consistency with both the short- and long-term strategic direction of the Commission, appropriatenessof funding sourcesforthe identified projectsand programs, and reasonableness of the operating and capital budget expenditures expenses. Expenditure/expense activities of the funds are controlled at the budgetary unit, which is the financial responsibility level (General, Measure A, Motorist Assistance, LTF, STA, 1UMF, Other Agency Projects, Capital Projects, Debt Service Funds, and Enterprise Fund) foreach function (i.e., administration, operations, programs, intergovernmental distributions, debt service, capital outlay, and other financing uses). These functions provide the legal level of budgetary control (i.e., the level at which expenditures/expensescannot legally exceed the appropriated amount). Budget -to -actual reports are available to program managers and directors on a real-time basis through the ERPsystem forinformational and management purposes, including identification and evaluation of any significant budget variations. During the fiscal year, management has the discretion to transfer budgeted amounts within the financial responsibility unit according to function or may provide support forsupplemental budget appropriationsrequests. Supplemental budget appropriation requestsrequire the authorization of the Commission. The Commission may take action at any monthly meeting to amend the budget. In some years, the Finance Department may compile miscellaneous requests and submit a budget appropriations adjustment at mid -year to the Commission for approval. Those budget amendments approved by the Commission are incorporated into the budget, as they occur, and are reflected in the CAFRin the final budget amountsreported in the budgetary schedules. COVID-19Impacts Since March 2020, the local, regional, state, and federal economies have been negatively impacted by the COVID-19crisis. Since the magnitude and duration of these impactsisuncertain, the budget represents the best available economic information. The Board and staff will continuously monitor, amass, and adjust the revised revenue projections and budgeted expendituresasnecessary through the economic recovery from the crisis. 44 Fund Budgets Budgetary Basis The Commission accounts for its budgeted funds using the modified and current financial resources measurement focusfor governmental fundsand the accrual basisof accounting and the economic resources measurement focusfor enterprise funds. The basis of accounting is the same asthe basis of budgeting. The Commission recognizesgovernmental fund revenueswhen measurable and available to meet current year obligations. Stich revenues are available when guaranteed as to receipt, based on expenditure of funds (i.e., government matching funds), or certain to be received within 180 days of the end of the fiscal year. The Commission generally records governmental fund expenditures when it incurs a liability; however, debt service expenditures are recorded when the payment is due. Enterprise fund revenues are recognized when earned, and expensesare recorded when a liability is incurred, regardless of the timing of related cash flows. Chart 12 illustrates total sources and uses by fund type for the FY 2020/21 budget. Chart 12 —Total Sources and Uses by Fund Type FY2020/21 60.00% 50.00% 40.00% 30.00% 20.00% 10.00% 0.00 3% 4% 44% 47% General Fund Special Revenue Funds Fund Structure 2% 0% Capital Projects Funds 48% 5% 4% Debt Service Fund Enterprise Fund U Total Sources U Total Uses The Commission accountsforitssourcesand usesin 32funds(Chart 13) categorized into five fund types: General fund, special revenue funds, capital projects funds, debt service fund, and enterprise fund. All of the Commission'sfundsare budgeted. There are three fundsreported in the General fund and 24 in the special revenue funds. Two capital projectsfundsare used to account forcapital project expendituresfinanced with short-orlong-term debt proceeds. The Commission has one debt service fund to account for debt -related activity. In addition, the Commission has two enterprise fundsto account forthe RCTC 91 ExpressLanesand 15 Express Lanesoperations. 45 Chart 13—Budgeted Funds Structure FY2020/21 •Adnirislra}Ion •Rail Opera lions -Plowing & Programming General Fund Overview Special Revenue Funds 1989 Measure A •western County •FRghway 2009 MeasureA •wesrem County •Highways •Local$Ireets & Roods • P ubic Tronsil • Specia iced Transit • Bus Transil • Rail Transit & Mainlenulce •Commuler Assistance •New Corridors • Bond Fnancing •ReglonalArterials •EconoMc Development •Coachetta Valley •Highway & R egiona l Arterials • loco I &tree Is & Roads •SpeciafredTransiI Wale Verde Valley •LocalStreefs & Roads •FSP •SAFE •LocaI IranspOnaliOn Funds •Sla le Transit Assistance •Slale of Good Repair •BUMF •Coachella Valley Rail •Other Agency Projects Fund •SB132 J Debt service Fund • RCTC 91 Express Lanes . • 15 Express Lanes the Commission's General fund accounts for all activities not legally required or designated by Board action to be accounted forseparately. For many public agencies, the General fund isthe largest fund; however, it is less significant for the Commission. ire Commission's largest revenue source is Measure A, a locally levied sales tax that legally must be accounted for separately in special revenue funds. In addition to Commission administration and general operations, other General fund activities include commuter rail operations as well as planning and programming. Table 21 presents the FY 2020/21 budget for the General fund, followed by a discussion of significant componentsof the budget. 46 Table 21 —General Fund FY2019-2021 FY18/19 FY19/20 FY19/20 FY20/21 Dollar Percent Actual Revised Budget Projected Budget Change Change Revenues Federal Reimbursements State Reimbursements Local Reimbursements Investment Income 101AL Revenues Expenditures Personnel Salaries and Benefits Professional and alp port Professional Services 8ipport Costs 101ALProfessional and Sip port Costs Projects and Operations Program Operations Construction Operating and Capital Disbursement: Special Studies 10TAL Pro jects a nd Operations Debt Burvice Principal Payments Interest Payments 10TAL Debt Service Capital Outlay 101AL Expend itures $ 4,955,500 8,000,000 $ 8,000,000 3,228,600 3,664,700 2,073,100 153,400 400 2,000 642,800 276,100 182,200 9,001,400 4,920,800 3,327,100 3,820,200 7,147,300 2,624,900 21,078,300 1,300,200 25,003,400 12,500 5,000 17,500 612,100 11,941,200 10,257,300 9,415,100 9,754,600 6,687,900 4,214,500 10,902,400 2,000 1,470,000 26,455,000 1,246,000 29,173,000 7,146,000 3,520,400 10,666,400 5,200 250,000 30,782,600 695,000 31,732,800 1,295,200 457,200 37,701,100 50,785,700 52,611,000 Excess (deficiency) of Revenues over (under) Expenditures (28,699,700) (38,844,500) (42,353,700) Other Rnancing Sources(Uses) Transfers In Transfers Out Net Rnancing Surces(Uses) Excess (deficiency) of Revenues over (under) Expendituresand Other Rnancing Sources (Uses) Beginning Fund Balance ENDING FUND BALANCE 33,992,100 41,127,800 43,004,000 (2,208,600) (3,394,600) (1,844,600) ' 31,783,500 37,733,200 41,159,400 3,083,800 26,040,500 $ 29,124,300 $ (1,111,300) (1,194,300) 29,124,300 28,013,000 $ 29,124,300 27,930,000 The sourcesforthe General fund (Chart 14) consist of: $ 22,000,000 3,581,400 1,700 131,600 25,714,700 5,790,100 6,482,800 4,002,900 10,485,700 2,000 1,250,000 35,580,000 1,450,000 38,282,000 1,318,300 55,876,100 (30,161,400) 25,579,100 (2,247,200) 23,331,900 (6,829,500) 27,930,000 $ 21,100,500 $ 14,000,000 175% (83,300) -2% 1,300 325% (144,500) -52% 13, 773, 500 115% (3,625,000) -39% (205,100) -3% (211,600) -5% (416,700) -4% 0% (220,000) -15% 9,125,000 34% 204,000 16% 9,109,000 31% N/A N/A N/A 23,100 2% 5,090,400 10% 8,683,100 -22% (15,548,700) -38% 1,147,400 -34% (14,401,300) -38% (5,718,200) 515% (1,194,300) -4% $ (6,912,500) -25% • Variousfederaland state reimbursementsforplanning activitiesand commuter rail station operations; • Investment income; • Transfersfrom variousfundsforthe allocation of administrative costs; • Transfers of LTF sales tax revenues for planning, programming, and monitoring (PPM) activities; and • Transfersof LTFArticle 4 allocationsforcommuter rail operationsand capital. 47 Chart 14—General Fund Sources FY2020/ 21 Transfers In 50% Federal ^ Reim bursements 43% Sate Reimbursements 7% Federal reimbursementsrelate to rail station preventative maintenance and PVLoperations. Sate reimbursements include station mobility improvements and PVL operations, as well as STIP funds for PPM activities. Local reimbursements relate to administrative activities. the Commission allocatesand transfersto the General fund a portion of LlFsalestax revenuesfor administration, planning and programming, and railtransitoperationsand capitalforthe following p u rp o se s: • General fund administration allocationsfunded with L1Fsalestax revenues of $115,300 in FY2020/21 reflect a 6%decrease compared to the prior year. • State law sets planning allocations at 3% of estimated LTF sales tax revenues. the FY 2020/21 budget for planning allocations is $2,460,000. The FY 2019/20 revised budget of $3,269,000 includes the effect of the mid -year projection adjustment that includes the unapportioned carryoveramount, which isnot determined until afterthe prioryear'sfiscal yearend, and revised revenue projections. • LTF sales tax revenues of $2,851,300 in FY 2020/21 will fund General fund allocations for planning, programming, and regional activities. • Commuter rail operating and capital needs determine the amount of LTFallocationsto the extent that revenuesand reserved fund balance are available. The FY2020/21 budget includes$9,000,000 in L1Fallocationsprimarily to fund operating contribution expenditures to SC RRA. The Commission allocates administrative costs based on a cost allocation plan and recognizes reimbursementsto the General fund from otherfundsastransfersin. The FY2020/21 General fund administrative allocation of $5,348,800 from Measure A may be adjusted based on actual expenditures, but in no event will it exceed 4% of total Measure A revenues (including administrative salariesand benefits). Administrative transfersin from STA, TUMF, motorist assistance, toll operations, S3132, and otheragency project fundsof $5,803,700 in FY2020/21 decreased from $6,411,200 in FY2019/20 due to a decreased level of activity requiring administrative support. 48 Chart 15 —General Fund Uses FY 2020/ 21 Capital Outlay 2% Projects a nd Operations 66% Transfers Out 4% Personnel Salaries and Benefits 10% Professional cervices 11% 3apport Costs 7% Chart 15 depicts General fund uses. Personnel salaries and benefits expenditures decreased $3,625,000 primarily due to a one-time disbursement in FY 2019/20 to fund the Commission's CaIPERSnet pension liability. Asa cost savingsmeasure, there will be no performance merit -based salary increasesin FY2020/21. Professional costsdecreased 3%compared to the prioryeardue to completion of the long-range transportation plan and Traffic Relief Plan, aswell as refocusing rail operationsplanning efforts. Support costsdecreased 5%primarily due to completion of the public engagement program related to the Traffic Relief Plan. Program operations expenditures remained unchanged from FY 2019/20. Construction expenditures include Riverside Downtown station mobility improvements. the FY 2020/21 operating and capital disbursements budget includesallocationsof$35,580,000for the Metrolink commuter rail subsidy. Special studies expenditures include corridor plans, pass area transit and next generation rail studies. Capital outlay expenditures increased 2% due to information technology upgradesand station improvements. Transfersout include $318,200 to the Coachella Valley Rail fund foradministrative allocationsand $1,929,000to the General fund foradministration from rail operationsand planning and programming activities. 49 Special Revenue Funds Overview The Commission'sspecial revenue fundsare legally restricted asto use for Measure A projectsand programs, 1UMF projects, motorist assistance services, other agency project coordination, and funding transit operationsand capital in the County. Table 22 isa summary of the special revenue funds' budgets, and Tables 23 through 34 present the individual budgets along with respective d isc ussions. Table 22 -Special Revenue Funds FY2019 -2020 FY18/19 FY19/20 FY19/20 FY20/21 Dollar Percent Actual Revised Budget Projected Budget Change Change Revenues Measure A SBIesTax $ 201,205,000 $ 178,000,000 $ 178,000,000 L1F Sales Tax 103,819,400 91,000,000 91,000,000 SA les Tax 27,201,800 31,050,600 28,697,900 Federal Reimbursements 59,999,900 78,915,500 31,711,600 Sate Reimbursements 60,779,300 157,231,400 121,421,600 Local Reimbursements 6,780,500 9,858,500 3,833,700 IUMF Revenue 29,968,500 17,240,000 17,240,000 Other Revenue 6,243,600 652,000 653,700 Investment Income 15,954,600 6,262,900 5,301,700 TOTAL Revenues 511,952,600 570,210,900 477,860,200 Expenditures Personnel S13Iariesand Benefits 3,843,800 9,134,000 9,301,100 Professional and Sipport Professional %rvices 7,319,200 18,507,900 6,346,700 Sipport Costs 941,100 5,555,300 4,094,500 1OTALProfessional and Sipport Costs 8,260,300 24,063,200 10,441,200 Projects and Operations Program Operations 12,129,700 22,389,900 16,052,000 Engineering 13,547,400 24,749,000 22,045,500 Construction 53,145, 600 153,274,100 106, 029, 600 Desig n Build 107,589,300 158,341,500 135,100,000 Right of Way/Land 19,680,600 92,713,500 34,296,000 Operating and Capital Disbursements 122,794,000 176,610,400 142,751,500 SDecial Sudies 27,900 1,800 Local Sreetsand Roads 61,069,300 54,061,300 54,061,300 Regional Arterials 19,203,900 30,967,000 25,000,000 IOTALProjects and Operations 409,187,700 713,108,500 535,335,900 Capital Outlay 4,996,000 4,457,500 3,776,800 101ALExpenditures 426,287,800 750,763,200 558,855,000 Excess (deficiency) of Revenuesover (under) Expenditures 85,664,800 (180,552,300) (80,994,800) Other Rnancing S urces(Uses) Transfers In Transfers Out liRALoan Proceeds Net Rnancing SD urces (Uses) Excess (deficiency) of Revenuesover (under) Expend ituresand Other Rnancing urces (Uses) 35,405,500 (120,011,400) 14,946,100 (69,659,800) 53,083,700 (133,086, 300) 75,703,000 (4,299,600) 51,230,200 (138,562,400) 89,896,000 2,563,800 16,005,000 (184,851,900) (78,431,000) Beginning Fund Balance 621,994,100 637,999,100 637,999,100 ENDING RJND BALANCE $ 637,999,100 $ 453,147,200 $ 559,568,100 $ 160,000,000 82,000,000 28,656,900 78,805,100 151,424,700 18,563,400 15,500,000 525,000 2,301,800 537,776,900 4,017,500 6,926,700 6,107,400 13,034,100 20,324,400 27,375,000 209,520,000 100,621,100 58,363,600 99,842,700 48,479,100 30,000,000 594,525,900 4,330,500 615,908,000 (78,131,100) 80,599,000 (146,898,100) 47,371,900 (18,927,200) (97,058,300) 559,568,100 $ 462.509.800 $ (18,000,000) -10% (9,000,000) -10% (2,393,700) -8% (110,400) 0% (5,806,700) -4% 8,704,900 88% (1,740,000) -10% (127,000) -19% (3,961,100) -63% (32,434,000) -6% (5,116,500) -56% (11,581,200) -63% 552,100 10% (11,029,100) -46% (2,065,500) -9% 2,626,000 11% 56,245,900 37% (57,720,400) -36% (34,349,900) -37% (76,767,700) -43% (1,800) -100% (5,582,200) -10% (967,000) -3% (118,582,600) -17% (127,000) -3% (134,855,200) -18% 102,421,200 -57% 27,515,300 52% (13,811,800) 10% (28,331,100) -37% (14,627,600) 340% 87,793,600 -47% (78,431,000) -12% 9,362,600 2% The Commission accounts for Measure A and LTF sales taxes, STA allocations, Western County TUMF, state budgetary allocations, and vehicle registration fees in the 24 special revenue funds. Federal, state, and local reimbursements and transfers in consisting principally of debt proceeds supplement the Measure A salestax revenues. Chart 16 illustratesthe variousspecial revenue fund sources. 50 Chart 16 —Special Revenue Funds Sources FY 2020/ 21 Transfers In 12% Investment Income 1% 1UMF Revenue 2% Local Reimbursements 3% Sate Reimbursements 23% Debt Proceeds 7%\ Measure A Sales Tax 24% L1F &Iles Tax 12% STA SalesTax 4% Federal Reimbursements 12% The Commission expendsspecial revenue funds' resourceson: • County highway, rail, regional arterial, and new corridors engineering, right of way acquisition, construction, and design -build; • Local streetsand roads maintenance, repair, and construction; • Economic development incentives; • Salestax bond financing; • Bicycle and pedestrian facilities; • Education and incentive programsto encourage use of alternate modesoftransportation; • Special social service transportation programs; • Public transit operationsand capital needs; and • Motorist towing and freeway call box assistance. Asshown in Chart 17, projects and operations expenditures represent the primary use of special revenue fund resources. Chart 17 —Special Revenue Funds Uses FY 2020/21 Personnel Salaries and Benefits 0% Tra nsfers Out 19% • Capital Outlay 1% Professional Services 1% Sapport Costs 1% Projects a nd Operations 78% 51 Measure A Special Revenue Funds Measure A sales tax revenue, which is allocated to the three geographic areas of the County (Chart 18) primarily funds 15 of the special revenue funds. There is one 1989 Measure A and ten 2009 Measure A Western County funds, three 2009 Measure A Coachella Valley funds, and one 2009 Measure A Palo Verde Valley fund. Chart 18 —Measure A Sales Tax Revenues by Geographic Area Coachella Valley 22% Palo Verde Valley 0% WWe stern ounty 78% Since the 1989 Measure A terminated on June 30, 2009, the remaining 1989 Measure A Western County fund will be closed upon the completion of the specific highway projects. With the commencement of the 2009 Measure A on July 1, 2009, 14 funds will be in existence for the 30- yearterm. The fundsaccount forall Measure A project and program expendituresand transfers of debt service for capital projects. the Measure A special revenue fundsexpend monieson capital construction and improvements to highways, commuter rail, regional arterials, new corridors, and local streetsand roads. Funding is also reserved for commuter assistance, public and specialized transit, and economic development incentivesprogramsaswell as bond financing costs. the Commission isa self-help county, and, as such on major highway projects, the Commission supplements the State's spending. Upon completion of most highway projects, Caltranstakesoverthe maintenance and operationsof the projects. the Commission pledged all Measure A salestaxrevenuesassecurityforthe Commission'ssenior salestax revenue bondsand subordinate commercial paper notes. Debt service on the bondsis recorded in the Sales Tax Bondsdebt service fund, and Measure A special revenue fundsprovide most of the resourcesfor debt service through transfersout. Western County Measure A Funds the Westem County Measure A special revenue funds account for Western County's approximately 78%share of the Measure A sales tax. As demonstrated in Table 23, most of the Commission's reimbursements flow through these funds, since the sales tax leverages state and federal dollars. 52 Table 23 -Westem County Measure A Funds FY 2019 -2021 FY18/19 FY19/20 FY19/20 FY20/21 Dollar Percent Actual Revised Budget Projected Budget Change Change Sources Measure A Sales Tax Bond Rnancing CommuterAssstance Economic Development Incentives Highways Local areets and Roads New Corridors Public Bus Transit Rai Regional Arterials qoecialized Transit Total Measure A Federal Reimbursements aate Reimbursements Local Reimbursements Other Revenue Investment Income Transfers In 11RA Loan Proceeds TOTAL Sources $ 12,610,800 $ 11,156,000 $ 11,156,000 2,335,300 2,066,000 2,066,000 1,868,300 1,653,000 1,653,000 47,640,900 42,146,000 42,146,000 45,305,500 40,081,000 40,081,000 17,281,500 15,288,000 15,288,000 3,374,600 2,107,000 2,107,000 9,528,200 8,429,000 8,429,000 14,012,000 12,396,000 12,396,000 2,977,600 3,512,000 3,512,000 156,934,700 58, 775, 000 1,864,600 1,052,800 6,169, 600 5,812,400 28,734,500 14, 946,100 138,834,000 78,165,500 46,797,100 2,266,000 535,000 2,472,800 47,933,700 75,703,000 138, 834, 000 31,211,600 40,901,000 1,576,100 619,800 2,152, 900 48,080,200 89,896,000 274,289,700 392,707,100 353,271,600 Uses Personnel Salaries and Benefits 3,152,300 7,421,500 7,710,000 Professional Borvices 3,257,000 6,487,200 3,977,000 aipport Costs 775,700 5,096,300 3,762,900 Projects and Operations Program Operations 7,985,900 15,056,100 11,481,600 Engineering 2,558,200 16,727,700 9,833,300 Construction 21,850,900 123,449,100 78,260,400 Design Build 95,068,900 116,623,500 105,662,000 Right of Way/Land 16,587,200 41,130,500 18,375,500 Operating and Capital Disbursements 9,617,500 21,170,000 6,816,700 qoecialaudies 27,900 1,800 - Local areetsand Roads 45,127,100 39,973,400 39,973,400 TOTAL Projects and Operations 198,823,600 374,132,100 270,402,900 Debt Bervice Capital Outlay 4,996,000 4,457,500 3,776,800 Transfers Out 85,607,100 95,400,000 101,868,300 TOTAL Uses 296,611,700 492,994,600 391,497,900 Excess(deficiency) of Sources over (under) Uses $ (22,322,000) $ (100,287,500) $ (38,226,300) $ 10, 044, 000 1,860,000 1,488,000 37, 942, 000 36, 083, 000 13,763,000 1,897,000 7,588,000 11,160,000 3,161, 000 124, 986, 000 78, 605,100 42, 435, 800 16, 677, 400 491,000 775,200 75,342,900 47,371,900 386,685,300 3,059,200 5,112,500 5,848,900 13,043,200 17,585,000 161, 240, 800 54, 496,100 29, 593, 000 7,124, 500 35, 967, 700 319, 050, 300 4,330,500 109, 345,100 446,746,500 $ (60,061,200) $ (1,112,000) -10% (206,000) -10% (165,000) -10% (4,204,000) -10% (3,998,000) -10% (1,525,000) -10% (210,000) -10% (841,000) -10% (1,236,000) -10% (351,000) -10% (13,848,000) -10% 439,600 1 (4,361,300) -9% 14,411,400 636% (44,000) -8% (1,697,600) -69% 27,409,200 57% (28,331,100) -37% (6,021,800) -2% (4,362,300) -59% (1,374,700) -21% 752,600 15% (2,012,900) -13% 857,300 5% 37,791,700 31% (62,127,400) -53% (11,537,500) -28% (14,045,500) -66% (1,800) -100% (4,005,700) -10% (55,081,800) -15% (127,000) -3% 13, 945,100 15% (46,248,100) -9% 40,226,300 -40% The budgeted Western County Measure A salestax revenues reflect a 10%decrease compared to the prior year due to Measure A sales tax projections affected by COVID-19. Taxable sales changes between jurisdictions within the County also periodically affect the geographic allocation formula from yearto year. Federal reimbursementsforhighway and rail projectsare comparable to FY2019/20 budget and relate primarily to funding from the Federal Transit Administration (FTA), Congestion Mitigation and Air Quality (CMAQ), STP, CARESAct, and Federal Emergency Management Agency. The federal reimbursements are primarily attributable to activity on the SR60 truck lanes project, 9lcorridor operations project, 1-15 ExpressLanes-Southern Extension project, Mid County Parkway'ssecond construction package, Pachappa underpassproject, and station rehabilitation and improvement p rojects. State reimbursements are lower by 9%compared to the FY2019/20 budget and reflect funding from S11P, State Highway Operationsand Protection Program (SHOPP), and S31 Local Partnership Program (LPP) funding for the SR60 truck lanes project, 71/91 connector project, I-15/Railroad Canyon interchange, and various Western County Riverside County Transportation Efficiency Corridor projects. Local reimbursements are higher by 636% compared to the FY 2019/20 budget and are attributable to the 9lcorridor operations project funding from the Orange County Transportation Authority (OCTA). 53 Other revenue is lower by 8%from the prior year and is attributable to property management lease revenues. Investment income decreased 69%compared to the previousyear'sbudget due to extremely conservative investment yield projections in FY2020/21. As in prior years, a significant portion of transfers in consists of sales tax revenue bonds proceeds of $22,369,500 to fund the 1-15 Express Lanes project. Other significant transfers in include: • $10,000,000 from the 2009 Measure A bond financing fund to fund a portion of Western County debt service; • $15,000,000 from the 1989 Measure A Western County highway fund and 2009 Measure A economic development fund to complete the close-out of 91 Project; • $9,989,600 from the TUMFCommunity Environmental Transportation Acceptability Process (CETAP) fund for the Mid County Parkway I-215/Placentia interchange project; • $1,400,000 from the 2009 Measure A Western County new corridors fund for the 71/91 connector project; • $8,220,600 from the 2009 Measure A Western County new corridorsfund for itsshare of the Multi-SpeciesHabitat Conservation Plan (MS-ICP) debt service obligation; • $3,523,100 from the 1UMFCETAPfund for itsshare of the MSHCPdebt service obligation; • $2,812,100 from the Debt Service fund for Build America Bonds(BABs) subsidy payments; • $1,668,000from the Rfund fora station rehabilitation and improvement project; and • $360,000from the SAFEfund fora Next Generation 1DM study. 11RAloan proceedsof $47,371,900 will fund eligible 1-15 Express Lanesproject expenditures. Personnel salariesand benefitsexpendituresdecreased 59%from the prior year resulting primarily from the one-time disbursement in FY 2019/20 to fund the Commission's CaIPERS net pension liability. Asa cost savings measure, there will be no performance merit -based salary increases in FY 2020/21. Measure A Western County professional services expenditures in FY 2020/21 consist of general legal services for the various programs and capital projects and other professional services for highway, rail capital and commuter assistance projects and the Commission's debt programs. the 21%decrease in FY2020/21 reflectsthe prioryearactivity in legal, financial advisory, and other professional services related to various programs and projects. Support costs related to highway and rail projects and property management as well as the commuter assistance program increased $752,600, or 15%, from the prior year due to additional station maintenance, including COVID-19 sanitation, aswell asincreased station general businessinsurance. General program operationscomprise the program management with outside consultantsforthe highway and railcapitaland commuterassistance programs, permitsrequired forcapitalprojects, and subsidies and certificates for the commuter assistance program. S ch levels of operations typically fluctuate as project activitiestransition to another phase. Many of the Commission'sWestern County rail and highway projectsfunded by Measure A have been in various phases of engineering, construction, design -build, and right of way activity. The Commission expects engineering and construction to increase 5%and 31%, respectively, due to the Mid County Parkway I-215/Placentia interchange, 15/91 Express Lanes connector, and 91 COP. Design -build and right of way activitiesdecreased 53%and 28%, respectively, compared to the prioryeardueto I-15ExpressLanesprojectactivityand significant completion of the 91 Project. The 1-15 Express Lanes and 15/91 Express Lanes connector are major projects in the design -build phase, while the 91 Project design -build activities include close-out activities in FY2020/21. Other design -build related activities during FY 2020/21 include the 15/91 Express Lanes connector project. Right of way acquisition, another major project activity, can be a lengthy process. Right of way acquisition activity, including utilitiesand railroad relocations, will primarily benefit the Mid County 54 Parkway and I-215/Placentia Interchange project and closeout of the 91 Project. Operating and capital disbursements decreased 66%compared to the FY2019/20 budget and relate to Western County intercity bus service, specialized transit expenditures, and rail capital funded by Measure A. In FY2020/21, CARESAct funds will provide significant support for transit operations and capital, thereby reducing Measure A disbursements. Special studiesdecreased 100%compared to the prior year due to completion of feasibility studies performed in the prior year. Local streets and roads, or turn back payments to local jurisdictions and the County, decreased because of lower Measure A sales tax revenues. Capital outlay includes equipment and improvements for the rail program and reflectsa 3%decrease due to station rehabilitation and improvementsin the priorfiscal year. Significant transfersout from the Western County Measure A fundsinclude: • Funding for debt service paymentsof $79,519,000; • $9,000,000 from the 1989 Measure A Western County highway fund to complete 91 Project close-out activities; • $8,220,600 from the 2009 Measure A Western County new corridor fund for its share of the MS-ICPdebt service obligation; • $6,000,000 from the 2009 Measure A Western County economic development fund for 91 Project right of way acquisition costs; • $1,400,000 from the 2009 Measure A Western County new corridor fund for the 71/91 connector project; • $300,000 from the 2009 Measure A Western County highway fund for a 1UMF regional arterial project; and • $4,905,500 for the administrative costsallocation Coachella Valley Measure A Funds these special revenue fundsaccount forCoachella Valley's22%share of the Measure A salestax (Table 24). Table 24—Coachella Valley Measure A Funds FY 2019 —2021 FY18/19 FY19/20 FY19/20 FY20/21 Dollar Percent Actual Revised Budget Projected Budget Change Change SDurces Measure A BulesTax Highways& Regional Arterials Local3reetsand Roads Specialized Transit Total Measure A Investment Income TOTAL Sources $ 21, 619, 300 $ 19,126, 000 $ 19,126, 000 15,133, 600 13, 389, 000 13, 389, 000 6,485,800 5,738,000 5,738,000 43, 238, 700 1,657,000 38,253,000 38,253,000 562,800 626,600 45,046,800 38,815,800 38, 879, 600 Uses Personnel Salaries and Benefits 1,500 24,300 15,300 Professional 5 rvices 8,600 29,300 18,700 Sjpport Costs 100 200 200 Projectsand Operations Operating and Capital Disbursements 6,000,000 7,000,000 6,206,000 Local areetsand Roads 14,955,500 13,281,400 13,281,400 Regional Arterials 19,203,900 30,967,000 25,000,000 lOTAL Projects and Operations 40,159,400 51,248,400 44,487,400 Tra n sfe rs Out 534,800 357,100 357,100 TOTAL Uses 40,704,400 51,659,300 44,878,700 Excess(deficiency) of 9uurcesover (under) Uses $ 4,342,400 $ (12,843,500) $ (5,999,100) $ 17,159,000 12,011,000 5,148, 000 34, 318, 000 182,200 34, 500, 200 44,700 19,200 200 5,955,900 11,895,700 30, 000, 000 47,851,600 363,000 48, 278, 700 $ (13,778,500) $ (1,967,000) -10% (1,378,000) -10% (590,000) -10% (3,935,000) -10% (380,600) -68% (4,315,600) -11% 20,400 84% (10,100) -34% 0% (1,044,100) -15% (1,385,700) -10% (967,000) -3% (3,396,800) -7% 5,900 2% (3,380,600) -7% $ (935,000) 7% Coachella Valley Measure A salestax revenuesdecreased 10%compared to the prior year due to Measure A sales tax projections affected by COVID-19. Taxable sales changes among the geographic areascan impact the geographic allocation formula from yearto year. 55 Investment income decreased 68%compared to the previous year's budget due to extremely conservative investment yield projections in FY2020/21. Personnel salaries and benefits expenditures increased $20,400 from the prior year due to the allocation of I -Its. The Coachella Valley operating and capital disbursements represent specialized transit funds distributed to S.1nLine Transit Agency (SunLine) for transit operations. Local streets and roads paymentsto localjurisdictionsare directly affected by changes in Measure A salestax revenues. Regional arterial projectsare highway and regional arterial projectsmanaged by CVAG. the Commission accountsfordebt service funding related to CVAG highway and regional arterial projects, underadvance funding agreements, in projectsand operationsin orderto be consistent with the accounting in the ERPsystem. Transfersout of $363,000 relate to the administrative costsallocation. Palo Verde Valley Measure A Fund lhisspecial revenue fund accounts for Palo Verde Valley's less than 1%share of the Measure A salestax (Table 25). Table 25—Palo Verde Valley Measure A Fund FY2019-2021 FY18/19 FY19/20 FY19/20 FY20/21 Dollar Percent Actual Revised Budget Projected Budget Change Change SDurces Measure A BulesTax Local areetsand Roads Uses Projects and Operations Local areetsand Roads lOTALProjectsand Operations TransfersOut TOTAL Uses Excess (deficiency) of Sources over (under) Uses $ 1,031,600 $ 913,000 $ 913,000 986,700 986,700 44,900 1,031,600 806,500 806,500 106,500 913,000 806,500 806,500 106,500 913,000 $ 696,000 615,700 615,700 80,300 696,000 $ (217,000) -24% (190,800) -24% (190,800) -24% (26,200) -25% (217,000) -24% $ N/A Total Measure A salestax revenuesdecreased 24%compared to the prioryeardue to Measure A sales tax projections affected by COVID-19 as well as taxable sales changes among the geographic areasthat impact the geographic allocation formula from yearto year. Local streets and roads represent the only expenditures in the Palo Verde Valley. Transfers out of $80,300 relate to the administrative costsallocation. Non -Measure A Special Revenue Funds The non -Measure A special revenue funds account for LTFdisbursements; 1UMFWestern County project costs; motorist assistance expendituresfortowing service aswell asfreeway call box and 511 traveler information system operations; transit disbursements from STA and SGR funding; Coachella Valley rail planning and development; interagency project activities; and SB 132 project activities. These activities are budgeted in the LTF, 1UMF, FSP, SAFE, STA, SGR, Coachella Valley Rail, Other Agency Projects, and SS 132 special revenue funds, respectively. Local Transportation Fund The OF special revenue fund derives its revenue from one quarter of one cent of the state sales tax that is returned to source and providesforfunding of public transit operations in the County, bicycle and pedestrian facility projects, planning, and administration (Table 26). 56 Table 26 — Local Transportation Fund FY 2019 —2021 FY18/19 FY19/20 FY19/20 FY20/21 Dollar Percent Actual Revised Budget Projected Budget Change Change Sources L1FBuIesTax Investment Income Transfers In TOTAL Sources Uses Projects and Operations Operating and Capital Disbursements lOTALProjectsand Operations Tra n sfe rs 0 ut $ 103,819,400 $ 91,000,000 $ 91,000,000 2,118, 500 713,300 766,500 1,170,000 - 107,107, 900 100, 548, 900 100, 548, 900 26, 203, 200 91,713,300 91,766,500 92,469,100 92,469,100 29, 687, 500 93, 020, 000 93, 020, 000 29, 563, 700 TOTAL Uses 126, 752,100 122,156, 600 122, 583, 700 Excess(deficiency) of Sources over (under) Uses $ (19,644,200) $ (30,443,300) $ (30,817,200) $ 82,000,000 402,400 82,402,400 45, 827, 000 45, 827, 000 16,426,600 62,253,600 $ 20,148,800 $ (9,000,000) -10% (310,900) -44% N/A (9,310,900) -10% (46,642,100) -50% (46,642,100) -50% (13,260,900) -45% (59,903,000) -49% $ 50,592,100 -166% The Commission projectsLTFsalestax revenue in FY2020/21 to decrease 10%from the prior year due to impactsof COVID-19. Investment income decreased 44%compared to the previousyear's budget due to extremely conservative investment yield projections in FY2020/21. In FY2020/21, approximately 86%and 14%of the LTFtransit expenditures of $44,300,000 are for operating and capital purposes, respectively. LIP operating allocations, subject to approval in June 2020, are comprised of 63%to Western County, 34% to Coachella Valley, and 3% to Palo Verde Valley public busoperators. Otheroperating and capitaldisbursementsinclude allocations forS3821 bicycle and pedestrian projectsof$900,000and planning and administration allocations of $627,000 to the County Auditor -Controller and SLAG. Transfersout include allocationsto the Commission'sGeneralfund forplanning and administration of $2,460,000; rail operations of $9,000,000; grade separation projects of $2,000,000; $2,851,300 for planning, programming, and agency share of the administrative costs; and $115,300 for administrative costsallocation. Transportation Uniform Mitigation Fee Fund The TUMF fund accounts for the Commission's share of developer fee assments on new residential and commercial developments in Western County for regional arterials and CETAP corridors (Table 27). TUMF revenues includes$11,000,000 based on projected feesdistributed to the Commission and $4,500,000 related to WRCOG's TUMF Zone reimbursements for the I-15/Railroad Canyon interchange project, a city of Lake Elsinore regional arterial project managed by the Commission. The 10% decrease in TUMF revenues reflects the anticipated impacts of COVID-19 on new residential and commercial development. State reimbursements of $13,920,000 increased 140% forthe I-15/Railroad Canyon interchange project. Investment income decreased 64%compared to the previous year's budget due to extremely conservative investment yield projections in FY 2020/21. The FY2020/21 transfersin of $300,000 relate to funding for the SR79 realignment project from the 2009 Measure A Western County highwaysspecial revenue fund. 57 Table 27-Transportation Uniform Mitigation Fee Fund FY2019-2021 FY18/19 FY19/20 FY19/20 FY20/21 Dollar Percent Actual Revised Budget Projected Budget Change Change sources Sate Reimbursements Local Reimbursements lUMFRevenue Other Revenue Investment Income Tra nsfers In TOTAL Sources Uses Personnel Sala riesand Benefits ProfessionaI Burvices Sipport Costs Projects and Operations Program Operations Engineering Construction Right of Way/Land lOTALProjectsand Operations Tra nsfersOut TOTAL Us Excess (d eficiency) of Buurces over (under) Uses 4,999,800 29, 968, 500 38,000 3,026,100 186,200 38, 218, 600 262,000 137,300 16,000 357,200 3,263,700 988,100 525,200 $ 5,800,000 $ 4,000,000 17, 240, 000 18,000 1,205,900 300,000 17, 240, 000 33,900 399,700 300,000 24, 563, 900 21, 973, 600 624,600 171,000 27,900 619,200 1,935,300 6,800,000 24, 734, 000 661,700 169,200 29,100 542,500 1,470,000 6,279,000 7,700,400 5,134,200 1,425,800 34, 088, 500 15, 991, 900 1,524,300 1,524,300 6,975,300 36,436,300 18,376,200 $ 31,243,300 $ (11,872,400) $ 3,597,400 $ 13,920,000 15, 500, 000 34,000 436,400 300,000 30,190, 400 366,700 174,800 28,800 598,000 1,640,000 25, 550, 400 12, 533, 600 40, 322, 000 14, 826, 500 55, 718, 800 $ (25,528,400) $ 8,120,000 140% N/A (1,740,000) -10% 16,000 89% (769,500) -64% 0% 5,626,500 23% (257,900) -41% 3,800 2% 900 3% (21,200) -3% (295,300) -15% 18,750,400 276% (12,200,400) -49% 6,233,500 18% 13,302,200 873% 19,282,500 53% $ (13,656,000) 115% Personnel salaries and benefits reflect a decrease of 41% primarily due to the one-time disbursement in FY2019/20to fund the Commission'sCaIPERSnet pension Iiability.Asa cost savings measure, there will be no performance merit -based salary increases in FY 2020/21. Professional servicesand support costsare comparable to the prioryear. Projects and operations costs increased 18%, as many regional arterial projects move through various stages of engineering, right of way acquisition, and construction. Approximately 80% of the projects and operations costsare attributable to programmed regional arterial projects. The remaining 20%relatesto CETAPprojectssuch asthe Mid County Parkway preliminary engineering and right of way acquisitions. Transfersout represent $1,313,800 to the General fund related to the administrative cost allocation, $3,523,100 to the 2009 Measure A Western County highway fund for1UMFCETAP'sshare of the MSHCPdebt service obligation, and $9,989,600to the 2009 Measure A Western County new corridor fund for the Mid County Parkway I-215/Placentia interchange project. Freeway Service Patrol Fund The FSP fund accountsforthe state and local resources provided to cover the costs of servicing stranded motoristsin covered service areasand construction zonesby meansof towing, changing tires, and providing fuel (Table 28). The State's funding share of $3,500,000 increased 9% from the FY 2019/20 budget. Local reimbursements of $413,000 relate to local grants for project and weekend FSP services. Investment income decreased 30% compared to the previous year's budget due to and extremely conservative investment yield projections in FY 2020/21. Transfers in represent Commission match fundsof $1,965,900 from the S4FEspecial revenue fund. 58 Table 28 -Freeway Service Patrol Fund FY2019-2021 FY18/19 FY19/20 FY19/20 FY20/21 Dollar Percent Actual Revised Budget Projected Budget Change Change Sources sate Reimbursements Local Reimbursements Other Revenue Investment Income Transfers In TOTAL Sources Uses Personnel Salaries and Benefits Professional rvices s.ipport Costs Projects and Operations Program Operations lOTALProjectsand Operations Transfers Out TOTAL Uses Excess (deficiency) of Sources over (under) Uses $ 3,173, 300 $ 3,200,000 $ 3,166, 600 96,000 34,900 96,000 - 51,600 37,100 3,100 3,600,000 2,400,000 2,400,000 6,859,800 5,733,100 5,665,700 94,300 212,200 229,900 42,300 63,000 32,800 39,800 73,600 47,300 3,559,200 5,368,400 3,565,800 3,559,200 188,400 5,368,400 3,565,800 216,600 216,600 3,924,000 5,933,800 4,092,400 $ 2,935,800 $ (200,700) $ 1,573,300 $ 3,500,000 413,000 26,000 1,965,900 5,904,900 164,600 60,000 62,200 5,425,000 5,425,000 216,300 5,928,100 $ (23,200) $ 300,000 9% 413,000 N/A (96,000) -100% (11,100) -30% (434,100) -18% 171,800 3% (47,600) -22% (3,000) -5% (11,400) -15% 56,600 1% 56,600 1% (300) 0% (5,700) 0% 177,500 -88% Personnel salaries and benefits decreased 22%primarily due to the one-time disbursement in FY 2019/20 to fund the Commission'sCaIPERSnet pension liability. Asa cost savings measure, there will be no performance merit -based salary increases in FY 2020/21. Professional services are comparable to the prior year's budget. Slapport costsdecreased 15%and relate to printing and communication services. Operating costsfortowing servicesin FY2020/21 are higher than the FY 2019/20 budget due to increased towing rates across new FP contracts. Transfers out to the General fund of $216,300 are administrative cost allocations. Service Authority for Freeway Emergencies Fund the SAFEfund accountsforthe $1 per vehicle registration fee levied by the State on all registered vehicles within the County. It funds the installation and implementation of emergency aid call boxes located strategically on the highwaysthroughout the County as well asthe operations of the 511 traveler information system (Table 29). Table 29 -Service Authority for Freeway Emergencies Fund FY2019-2021 FY18/19 FY19/20 FY19/20 FY20/21 Dollar Percent Actual Revised Budget Projected Budget Change Change Sources Sate Reimbursements Local Reimbursements Other Revenue Investment Income 1OTALSurces Uses Personnel Salariesand Benefits Professional Services sipport Costs Projects and Operations Program Operations l0TALProjectsand Operations Transfers Out TOTAL Uses Excess (deficiency) of Sources over (under) Uses $ 2,074,600 $ 1,980,000 $ 2,028,000 139,200 224,600 210,700 1,100 3,000 - 186,700 71,200 14,100 2,401,600 2,278,800 2,252,800 31,500 93,900 127,100 280,700 459,000 442,200 108,200 352,400 246,000 22,400 19,000 66,600 22,400 3,632,000 19,000 66,600 2,531,600 2,531,600 4,074,800 3,455,900 3,413,500 $ (1,673,200) $ (1,177,100) $ (1,160,700) $ 2,000,000 222,300 24,200 2,246,500 15,800 459,500 137,600 27,000 27,000 2,399,700 3,039,600 $ (793,100) $ 20,000 1% (2,300) -1% (3,000) -100% (47,000) -66% (32,300) -1% (78,100) -83% 500 0% (214,800) -61% 8,000 42% 8,000 42% (131,900) -5% (416,300) -12% $ 384,000 -33% Local reimbursements represent recoveries through a collection agency related to call box knockdownsand pass -through fundsfrom S3CTA for itsshare of the 511 traveler information system operating costs. Investment income decreased 66%compared to the previousyear'sbudget due to extremely conservative investment yield projections in FY2020/21. Personnel salaries and benefits decreased 83%primarily due to the one-time disbursement in FY 2019/20 to fund the Commission'sCaIPERSnet pension liability. Asa cost savings measure, there 59 will be no performance merit -based salary increasesin FY2020/21. Professional servicesremained unchanged from FY 2019/20. Support costs decreased 61% due to the call box upgrade and removal program in FY 2019/20. Projects and operations costs are comparable to the previous year's budget. The transfers out reflect a $1,965,900 match to the State'scontribution for towing services in the FSD special revenue fund, $360,000 to the 2009 Measure A Western County commuter assistance fund forspecial projects, and $73,800to the General fund foradministrative cost allocations. State Transit Assistance Fund the STA fund accountsforthe state budgetary allocation of gastax revenuesdesignated for rail and bustransit operations and capital requirements (Table 30). Estimates of diesel fuel sales tax revenuesprovided by the State Controller, subject to an annual state budget appropriation, serve asthe basisforthe allocation. lhese estimatesnow include funding from SB1 for transit. Table 30—State Transit Assistance Fund FY2019-2021 FY18/19 FY19/20 FY19/20 FY20/21 Dollar Percent Actual Revised Budget Projected Budget Change Change Surces STA SaIesTax Investment Income TOTAL Sources Uses ProfessonoIServices Projects and Operations Operating and Capital Disbursements 10TAL Projects a nd Operations Tra n sfe rs 0 ut 10TAL Uses Excess (deficiency) of Sources over (under) Uses $ 23,497,600 $ 27,253,800 $ 24,857,000 2,866,200 1,143, 000 1,262,100 26, 363, 800 28, 396, 800 26,119,100 16,800 6,520,200 17,700 17,700 50,110,000 35,690,000 6,520,200 500,700 50,110,000 35,690,000 572,400 572,400 7,037,700 50,700,100 36,280,100 $ 19,326,100 $ (22,303,300) $ (10,161,000) $ 24,704,700 428,900 25,133, 600 18,700 35,423,000 35,423,000 787,300 36,229,000 $ (11,095,400) $ (2,549,100) (714,100) (3,263,200) -9% -62% -11% 1,000 6% (14,687,000) -29% (14,687,000) -29% 214,900 38% (14,471,100) -29% 11,207,900 -50% Investment income decreased 62% compared to the previous year's budget due extremely conservative investment yield projections in FY2020/21. The operating and capital disbursementsconsist of allocations primarily forbuscapital purposes. In FY 2020/21, approximately 58% of the allocations are in Western County, 41% in Coachella Valley, and 1%in Palo Verde Valley. Smilarto the LTFallocations, the STA allocations are subject to Commission approval in June 2020. Transfersout represent rail capital allocationsof $672,000to the Coachella Valley Rail fund and $115,300 to the General fund for administrative cost allocations. State of Good Repair Fund The SGRfund accountsforadditional STA funding under S31 for transit infrastructure repair and service improvements (Table 31). These additional revenues fund eligible transit maintenance, rehabilitation, and capital projects. 60 Table 31 -State of Good %pair Fund FY2019 - 2021 FY18/19 FY19/20 FY19/20 FY20/21 Dollar Percent Actual Revised Budget Projected Budget Change Change Sources STA S3 I e s Ta x Investment Income TOTAL Sources $ 3,704,200 $ 3,796,800 $ 3,840,900 142,200 47,200 67,400 3,846,400 3,844,000 3,908,300 Uses Projectsand Operations Operating and Capital Disbursements 107,400 5,861,300 1,018,800 1OTAL Projects a nd Operations 107,400 5,861,300 1,018,800 Transfers Out 757,900 941,500 941,400 TOTAL Uses 865,300 6,802,800 1,960,200 Excess (deficiency) of Sources over (under) Uses $ 2,981,100 $ (2,958,800) $ 1,948,100 $ 3,952,200 26,400 3,978,600 5,512,300 5,512,300 1,783,300 7,295,600 $ (3,317,000) $ 155,400 4% (20,800) -44% 134,600 4% (349,000) -6% (349,000) -6% 841,800 89% 492,800 7% $ (358,200) 12% The capital disbursementsconsist of allocationsforbuscapital purposes. In FY2020/21, 75%of the allocations are in Western County, 24%in Coachella Valley, and 1%in Palo Verde Valley. Similar to the LTFand STA allocations, Commission approval of the SGRallocationsoccursin June 2020. Transfers out of $1,668,000 relate to a station rehabilitation and improvement project in the 2009 Measure A Western County rail special revenue fund and $115,300 to the General fund for administrative costsallocations. Coachella Valley Rail Fund The Coachella Valley Rail fund accountsforstate funding for the planning and development of the new Coachella Valley -San Gorgonio Passcorridorrailservice (Table 32). Table 32 -Coachella Valley Dail Fund FY2019-2021 FY18/19 FY19/20 FY19/20 FY20/21 Dollar Percent Actual Revised Budget Projected Budget Change Change SD u rc es Federal Reimbursements Sate Reimbursements Investment Income Transfers In TOTALSDurces $ 1,224,900 $ 750,000 $ 500,000 5,942,500 - 88,900 9,400 7,100 350,000 450,000 450,000 1,663,800 7,151,900 957,100 Uses Personnel Sala riesand Benefits 8,900 85,200 21,200 Professional rvices 1,753,400 9,073,200 835,100 Sapport Costs 200 3,700 3,700 Projects and Operations Program Operations - 1,400 Engineering 600,000 400,000 Construction - - lOTALPro jectsand Operations 600,000 401,400 Tra n sfe rs Out 95,900 155,300 155,300 TOTAL U es 1,858,400 9,917,400 1,416,700 Excess (deficiency) of Sources over (under) Uses $ (194,600) $ (2,765,500) $ (459,600) $ 200,000 5,942,500 990,200 7,132,700 2,700 795,000 3,700 550,000 7,721,800 8,271,800 670,000 9,743,200 $ (2,610,500) $ (550,000) -73% 0% (9,400) -100% 540,200 120% (19,200) 0% (82,500) -97% (8,278,200) -91% 0% N/A (50,000) -8% 7,721,800 N/A 7,671,800 1279% 514,700 331% (174,200) -2% $ 155,000 -6% Federal reimbursements represent a Federal Rail Administration (FRA) grant of $200,000 for rail station planning and development. State reimbursements of $5,942,500 relate to State Rail Account grant funds for the special train platform in the city of Indio. Investment income decreased 100% compared to the previous year's budget due to extremely conservative investment yield projections and use of fund balance in FY2020/21. Transfers in of $672,000 and $318,200 reflect STA and General fund allocations, respectively. Personnel salaries and benefits decreased 97%primarily due to the one-time disbursement in FY 2019/20 to fund the Commission'sCaIPERSnet pension liability. Asa cost savings measure, there will be no performance merit -based salary increasesin FY2020/21. Professional servicesdecreased 91%due to the reclassification of costs related to the special events train platform in the city of Indio to engineering and construction. These expenditures include detailed studies and station 61 planning and development on the Coachella Valley -San Gorgonio Passrail corridor. Transfersout to the General fund of $670,000 relate to administrative costsallocations. Other Agency Projects Fund The Other Agency Projects fund accounts for interagency cooperative planning and development of projects in the County (Table 33). the Commission entered into a MOU with the Riverside County Regional Park and Open Space District (District) for the Santa Ana River Trail projects. The projects are a joint effort with several public and private agencies including the counties of Orange and San Bernardino. The District is the lead agency for environmental compliance for NEPA and CEQA, and the Commission is responsible for project oversight and approval, final design, and construction. Table 33- Other Agency Projects Fund FY 2019 - 2021 FY18/19 FY19/20 FY19/20 FY20/21 Dollar Percent Actual Revised Budget Projected Budget Change Change Sources Local Reimbursements Investment Income TOTAL Sources $ 588,700 $ 7,367,900 $ 1,950,900 12,800 200 1,600 601,500 7,368,100 1,952,500 Uses Personnel 8alariesand Benefits 34,700 201,500 146,900 Professional Services - 31,000 35,000 Sipport Costs 300 1,100 300 Projects and Operations Program Operations 146,600 354,100 268,000 Engineering 435,900 878,000 700,000 Construction - 4,972,000 - Right of Way/Land (29,900) 205,000 75,500 1OTALProjects and Operations 552,600 6,409,100 1,043,500 Transfers Out - 725,200 725,200 TOTAL Us 587,600 7,367,900 1,950,900 Excess (deficiency) of Sources over (under) Uses $ 13,900 $ 200 $ 1,600 $ 1,250,700 100 1,250,800 140,300 20,000 350,400 600,000 10,000 130,000 1,090,400 1,250,700 $ 100 $ (6,117,200) -83% (100) -50% (6,117,300) -83% (61,200) -30% (11,000) -35% (1,100) -100% (3,700) -1% (278,000) -32% (4,962,000) -100% (75,000) -37% (5,318,700) -83% (725,200) -100% (6,117,200) -83% (100) -50% The District is responsible for 100% of the Santa Ana River Trail project costs. It will reimburse the Commission, including providing an advance deposit, for all salaries and benefits, professional services, support costs, project management, engineering, construction costs, and right of way. SB 132 Fund The S3 132 fund (Table 34) accounts for the $427 million appropriation from the state highway account to the Riverside County Transportation Efficiency Corridor for five major projects in Western County: • Commission's 15/91 Express Lanesconnector project; • City of Corona'sMcKlnley Avenue grade separation project; • County's Jurupa Road grade separation project with the city of Jurupa Valley as its partner; • County's1-15/Limonite interchange project with the citiesof Eastvale and Jurupa Valley as itspartners; and • County's Hamner Bridge widening project with the city of Norco asitspartner. Without the state funding approved by the Governor and State Legislators in April 2017 as part package of legislation that pa9ccd with SB 1, these projectswould not have been built for many years. 62 Table 34—SB132 Fund FY2019-2021 FY18/19 FY19/20 FY19/20 FY20/21 Dollar Percent Actual Revised Budget Projected Budget Change Change Sources aate Reimbursements Investment Income Transfers In -OTAL Buurces $ 53,666,800 $ 93,511,800 $ 71,326,000 (7,800) - 600 1,213,700 2,000,000 54,872,700 95,511,800 71,326,600 Uses Personnel Salariesand Benefits 258,600 470,800 389,000 ProfessionaI Services 1,823,100 2,176,500 819,000 Sipport Costs 800 100 5,000 Projects and Operations Program Operations 58,400 973,100 126,100 Eng ineering 7,289,600 4,608,000 9,642,200 Construction 30,306,600 18,053,000 21,490,200 Design Build 12,520,400 41,718,000 29,438,000 Right of Way/ La nd 2,598,100 26,644,000 8,144,600 1OTALProjects and Operations 52,773,100 91,996,100 68,841,100 Transfers Out 1,020,700 868,300 - lOTALUses 55,876,300 95,511,800 70,054,100 Excess (d eficiency) of SD urces over (und er) Uses $ (1,003,600) $ - $ 1,272,500 $ 83,626,400 2,000,000 85,626,400 223,500 267,000 26,000 880,800 7,000,000 14, 997, 000 46,125, 000 16,107, 000 85,109, 800 85, 626, 300 $ 100 $ (9,885,400) -11% N/A 0% (9,885,400) -10% (247,300) -53% (1,909,500) -88% 25,900 25900% (92,300) -9% 2,392,000 52% (3,056,000) -17% 4,407,000 11% (10,537,000) -40% (6,886,300) -7% (868,300) -100% (9,885,500) -10% 100 N/A Personnel salaries and benefits decreased 53%primarily due to the one-time disbursement in FY 2019/20 to fund the Commission'sCaIPERSnet pension liability. Asa cost savings measure, there will be no performance merit -based salary increasesin FY2020/21. Professionalservicesdecreased 88%due to reduced activity in legal services, financial advisory, and traffic and revenue study activities primarily related to the 15/91 ExpressLanesconnectorproject. Support costs increased $25,900 related to utilities, public notices, communications, general supplies and materials, and staff -related costs. Projects and operations decreased $6,886,300 primarily due to right of way activitieson the McKinley Avenue grade separation project and construction on the I-15/Limonite interchange project. 63 Capital Projects Funds Overview The capital projectsfundsaccount forall debt proceedsfrom commercial paper notes, salestax revenue bonds, and toll revenue bonds (Table 35). Table 35 - Capital Projects Funds FY 2019 — 2021 FY18/19 FY19/20 FY19/20 FY20/21 Dollar Percent Actual Revised Budget Projected Budget Change Change Sources Investment Income TOTAL Revenues Other Fnancing Sources (Uses) Tra nsfers In Tra nsfers 0 ut Net Fnancing Sources(Uses) Excess (deficiency) of Revenues over (under) Expenditures and Other Fnancing Sources(Uses) $ 4,157,800 $ 1,371,300 $ 2,968,400 4,157, 800 1,371,300 2,968,400 500,000 (9,924,300) (24,402,400) (22,007,400) (9,424,300) (24,402,400) (22,007,400) (5,266,500) (23,031,100) (19,039,000) Beginning Fund Balance 116,920,000 ENDING FUND BALANCE 111,653,500 111,653,500 $ 111,653,500 $ 88,622,400 $ 92,614,500 $ 341,700 341,700 (24,271,500) (24,271,500) (23, 929, 800) 92,614,500 $ 68.684.700 $ (1,029,600) -75% (1,029,600) -75% 130,900 130,900 N/A -1 (898,700) 4 (19,039,000) -17% $ (19,937,700) -22% As illustrated in the following chartsfor FY2020/21, capital projectsfundssourcesand uses consist of investment income (Chart 19) and transfers out (Chart 20), respectively. In prior years, these charts reflected debt proceeds, including bond premium, and transfers in for sources as well as debt service payments to escrow agent for uses. In FY2017/18, the Commission issued sales tax revenue bondsto finance the 1-15 ExpressLanesproject and 91 Project completion and to refund salestax revenue bondsdue to federal tax reform. The Commission doesnot anticipate any new sales tax revenue debt issuances, toll revenue debt issuances, or sales tax debt refundingsin FY 2020/21. Chart 19 —Capital Projects Funds Sources FY 2020/21 Investm ent Income 100°A) f 64 Chart 20 — Capital Projects Funds Uses FY 2020/ 21 In FY2020/21, the Commission expects to transfer out sales tax bond proceeds of $24,271,500 to the 2009 Measure A Western County Highways special revenue fund for the 1-15 Express Lanes project. 65 Debt Service Fund Overview Under the 2009 Measure A program, as amended by Measure K in November 2010, the Commission has the authority to issue sales tax revenue bonds subject to a debt limitation of $975,000,000. the Commission pledged future Measure A sales taxes as security for Measure A debt service payments on the sales tax revenue bonds and commercial paper notes. In order to advance project development activities, the Commission established a commercial paperprogram in 2005. Periodically the Commission issues commercial paper notes and retires some of the notes with proceedsfrom salestax revenue bonds. The current commercial paperprogram authorization is$60,000,000. Ascredit and liquidity support forthe commercial papernotes, the Commission hasan irrevocable direct draw letterof credit in the amount of $60,750,000 and a reimbursement agreement with a bank that expires in October 2025. lhe costsforthe liquidity support are reflected in the 2009 Measure A Western County Bond Financing special revenue fund. Currently, there are no outstanding commercial papernotes; the FY2020/21 budget does not include any issuances of commercial papernotes. The Commission currently maintainsa P-1 and an A-1+ rating from Moody's Investors Service (Moody's) and S&P Global Ratings(S&P), respectively, on the commercial papernotes. The salestax revenue bonds are limited tax bonds secured by a pledge of the 2009 Measure A revenues (Limited Tax Bonds). All outstanding salestax revenue bonds are fixed rate bondsthat mature on or before June 2039, prior to the expiration of the 2009 Measure A. Currently, the Commission hasfive seriesof salestax revenue bondsoutstanding: • Series Btaxable bonds issued in November2010 (2010B Bonds) designated asBABsunderthe American Recovery and Reinvestment Act. lhe Commission designated a portion of the BABs asrecoveryzone economic development bonds(RZEDBs).lhe Commission expectsto receive a cash subsidy from the United States Treasury equal to 35%of the interest payable on the BABs or 45% of the interest payable on the 2010B Bonds designated as RZEDBs. However, reductions in the BABssubsidiesoccurred in recent yearsdue to federal sequestration cuts. If sequestration continues, the Commission anticipates a reduction in the FY 2020/21 BABs subsidy of approximately 6.0%; • Tax-exempt bonds issued in July 2013 (2013 Sales Tax Bonds) and partially refunded in December2017. the Commission used a significant portion of the proceedsof the 2013 Sales Tax Bondsto fund a substantial portion of the 91 Project costs; • Tax-exempt refunding bonds issued in September 2016 (2016 Refunding Bonds); • Tax-exempt bondsissued in July 2017 (2017A Bonds) to fund the 1-15 ExpressLanesproject and 91 Project completion costs; • Tax-exempt refunding bonds issued in December2017 (2017BRefunding Bonds); and • Tax-exempt refunding bonds issued in April 2018 (2018 Refunding Bonds). The Commission maintains long-term debt ratings of Aa2, AA+, and AA from Moody's, S&P, and Fitch Ratings(Fitch), respectively on itscurrently outstanding salestax revenue bonds. The debt agreements require the trustee to hold all salestax debt proceedsand a portion of the salestaxrevenuesintercepted from the CDTFAand to segregate allfundsinto separate accounts. These moniesare included in the restricted investmentsheld by trustee in the capital projectsfunds and debt service fund. Underthe salestaxindentures,the Commission may use salestax revenues forany lawful purpose related to the Riverside CountyTlPafterthe trustee hassatisfied debt service requirements. 66 the Debt Service fund of the Commission primarily accounts for all activities related to the sales tax revenue bonds debt incurred by the Commission (Table 36). The Commission does not anticipate any issuancesof salestax bonds in FY2020/21. Table 36 — Debt Service Fund FY 2019 — 2021 FY18/19 FY19/20 FY19/20 FY20/21 Dollar Percent Actual Revised Budget Projected Budget Change Change Sources Federal Reimbursements Investment Income TOTAL Sources Expenditures Debt ice Principal Payments Interest Payments TOTAL Debt rvice Capital Outlay TOTAL Expenditures Excess (deficiency) of Revenues over (under) Expenditures Other Fnancing Sources(Uses) Transfers In Transfers Out Net Fnancing Sources (Uses) Excess (deficiency) of Revenuesover (under) Expendituresand Other Fnancing Sources(Uses) $ 2,797,200 $ 556,900 2,803,200 $ 250,700 2,803,200 278,000 3,354,100 25,965,000 43,590,700 3,053,900 3,081,200 27,245,000 27,245,000 42,292,500 42,289,500 69,555,700 69,555,700 69,537,500 69,534,500 69,537,500 69,534,500 (66,201,600) (66,483,600) (66,453,300) 69,504,200 72,534,500 73,523,100 (2,948,300) (2,803,200) (2,803,200) 66,555,900 69,731,300 70,719,900 354,300 Beginning Rind Balance 11,082,900 ENDING FUND BALANCE 3,247,700 4,266,600 11,437,200 11,437,200 $ 11,437,200 $ 14,684,900 $ 15,703,800 $ 2,812,100 78,500 2,890,600 28,495,000 41,024,000 69,519,000 69, 519, 000 (66,628,400) 69, 519, 000 (2,812,100) 66,706,900 78,500 15,703,800 $ 15,782,300 $ 8,900 0% (172,200) -69% (163,300) 1,250,000 (1,268,500) -5% 5% -3% (18,500) (18,500) 0% N/A 0% (144,800) 0% (3,015,500) (8,900) (3,024,400) -4% 0% -4% (3,169,200) -98% 4,266,600 37% $ 1,097,400 7% Reimbursementsconsist of federal cash subsidy paymentsrelated to the 2010BBondsdesignated asBABs. the BABssubsidy paymentsreflect a reduction in the expected paymentsdue to federal sequestration cuts. Investment income is lower than the previous fiscal year due to extremely conservative investment yield projections. Transfers in represent the primary source of funding for the debt service funds and reserves (Chart 21) and consist of funds from the 2009 Measure A Western County Highwaysand Bond Financing special revenue funds. Chart 21 — Debt Service Fund Sources FY 2020/ 21 Federal Reimbursements 4% 'Transfers In 96% 67 Debt Service fund uses (Chart 22) consist of principal and interest debt service payments on the outstanding salestax revenue bonds(2O10B Bonds, 2013 SalesTax Bonds, 2016 Refunding Bonds, 2O17A Bonds, 2O17BRefunding Bonds, and 2018 Refunding Bonds) and transfer of the BABssubsidy paymentsto the 2009 Measure A Western County highwaysand 2009 Measure A Coachella Valley highway and regional arterialsfunds. Chart 22 — Debt Service Fund Uses FY 2020/21 Transfers Out 4% 68 Enterprise Funds Overview In FY 2020/21, the Commission will operate two express lanes systems that are accounted for in separate enterprise funds. lhe RCTC 91 ExpressLanesopened in March 2017, and the Commission anticipatesopening of the 15 ExpressLanesin late 2020. Toll revenues generated on the RCTC 91 Express Lanes are pledged to pay debt service on the tax-exempt toll bonds issued in July 2013 (2013 Toll Bonds) and federal 11RA loan executed with the United Sates Department of Transportation (U.S. DOT) in July 2013 (201311RA Loan) for the 91 Project. The 2013 Toll Bondsconsist of current interest bondsthat have maturity datesthrough June 2048 and capital appreciation bondsthat mature at the accreted value commencing June 2022 through June 2043. lhe 201311RA loan requiresmandatory debt service paymentsat a minimum and scheduled debt service payments to the extent additional funds are available. 11RA debt service paymentscommence on December 1, 2021 through June 1, 2051. The 2013 Toll Bonds and the 201311RA Loan are secured by a lien on the RCTC 91 Express Lanes trust estate, which consists primarily of toll revenues and non -toll transaction and account revenues less operating and maintenance expenses of the RCTC 91 Express Lanes. lhe 2013 Toll Bonds and the 2013 11RA Loan long-term ratings from S&P and Fitch were upgraded to A- and BBB+, respectively, in February 2020 asa result of the strong performance of the RCTC 91 Express Lanescompared to initial rating projections. Future toll revenuesgenerated on the 1-15 ExpressLanesare pledged to pay debt service on the federal 11RA loan executed with the U.S. DOTin 2017 (2017 11RA Loan) for the 1-15 Express Lanes project. Proceedsofthe 201711RA Loan may be drawn upon aftercertain conditionsare met; the Commission anticipatesthat the loan will be drawn in full during FY2020/21. Interest paymentsare expected to commence on the fifth anniversary of the substantial completion date or the first interest payment date occurring prior to the fifth anniversary date. Accordingly, semiannual interest paymentsare anticipated to commence June 2025; principal paymentsare expected to commence in June 2030. The 201711RA loan isexpected to mature on the earlierof 35 yearsafter substantial completion of the 1-15 ExpressLanesproject or June 1, 2056. The 201711RA Loan issecured by a lien on the 15 ExpressLanestrust estate, which consistsprimarily of toll revenues and non -toll revenues(including account and violations revenues) lessoperating and maintenance expenses of the 15 Express Lanes. For the 2017 11RA Loan, the Commission received long-term ratingsof BBB- and BBBfrom Fitch and Kroll Bond Rating Agency, respectively. Under separate debt indentures for the RCTC 91 Express Lanes and the 15 Express Lanes, the Commission pledged each system'stollrevenuesassecurityforthe respective toll revenue bonds, including 11RA loans. Each debt agreement requiresthe trustee to hold all debt proceedsand the toll revenues from each express lanes' operations and to segregate all funds into separate accounts. Under the toll indentures, a separate flow of funds administered by the trustee prescribesthe use of toll revenuesforeach expresslanessystem. The Commission excludes accretion amounts related to capital appreciation bonds and compounded interest on the 11RA loans, asthey do not affect the annual budget activities. 69 RCTC 91 Express Lanes The RCTC 91 Express Lanes is a four -lane, eight -mile toll road in the median of 9R91 that extends the OCTA 91 Express Lanes at the Orange County/Riverside County line to the SR91/1-15 interchange. It includes a direct express lanes connector from SR91 to 1-15 south of the 15/91 interchange. Toll revenues and non -toll revenues fund maintenance and operating costs, rehabilitation, capital expenses, and debt service (Table 37). The RCTC 91 Express Lanes toll collection system isall electronic transactions, with no toll collection booths. Commuterson SR-91 in Corona have a choice of using eitherthe expresslanesorthe general purpose lanes. Table 37—RCTC 91 Express Lanes Enterprise Fund FY2019-2021 FY 18/ 19 Actual FY 19/ 20 FY 19/ 20 FY 20/ 21 Revised Budget Projected Budget Dollar Percent Change Change Revenues Tolls, Penalties, and Fees Investment Income TOTAL Revenues Expenses Personnel Salaries and Benefits Professional and alp port Professional rvices Sipport Costs TOTAL Professional and alp port Costs Program and Operations Program and Operations Construction Design Build TOTAL Projects and Operations Debt Service Principal Payments Interest Payments Cost of Issuance TOTAL Debt rvice Capital Outlay TOTAL Expenses Excess (deficiency) of Revenues over (under) Expenses Other Rnancing Sources (Uses) TransfersOut Debt Proceeds Payment to Escrow Agent Bond Premium Net Financing Sources(Uses) $ 58,423,500 $ 67,201,100 $ 49,622,000 1,738,700 1,339,000 2,011,100 60,162,200 68,540,100 51,633,100 578,400 1,353,400 846,200 1,089,600 3,235,100 2,977,500 2,458,300 4,543,300 3,450,700 4,324,700 7,520,800 5,909,000 6,779,300 11,670,200 8,536,900 - 200,000 6,779,300 7,119, 900 11,670,200 8,736,900 484,571,600 - 7,119, 900 7,119, 900 2,720,000 - 7,119, 900 1,096,700 494,411,500 766,100 7,119, 900 426,000 19,899,000 515,722,000 23,038,000 40,263,200 (447,181,900) 28,595,100 (2,539,700) (4,309,200) (3,059,500) 625,425,000 (142,975,000) 39, 967,400 (4,309,200) 519,357,900 (2,539,700) Excess (deficiency) of Revenues over (under) Expenses and Other Rna ncing Sources (Uses) 35,954,000 Beginning Fund Balance 63,646,900 72,176,000 26,055,400 99,600,900 99,600,900 ENDING FUND BALANCE $ 99,600,900 $ 171,776,900 $ 125,656,300 $ 28,205,000 691,900 28, 896, 900 663,200 6,165, 600 4,284,700 10, 450, 300 15, 340, 800 1,500,000 400,000 17, 240, 800 484,571,600 18,371,900 2,883,400 505,826,900 305,000 534, 486, 200 (505, 589, 300) (1,025,300) 627,550,000 (147,488,000) 39, 978, 000 519,014,700 13, 425, 400 125,656,300 $ 139,081,700 $ (38,996,100) -58% (647,100) -48% (39,643,200) -58% (690,200) -51% 3,188,100 107% (258,600) -6% 2,929,500 39% 3,670,600 31% 1,500,000 N/A 400,000 N/A 5,570,600 48% - 0% 11, 252, 000 158% 163,400 6% 11,415,400 2% (461,100) -60% 18,764,200 4% (58,407,400) 13% 2,034,200 -66% 2,125,000 0% (4,513,000) 3% 10,600 0% (343,200) 0% (58, 750, 600) -81% 26,055,400 26% $ (32,695,200) -19% Tolls, penalties, and fees revenues represent the primary revenue source for the RCTC 91 Express Lanes enterprise fund (Chart 23). Such revenues consist of toll revenues of $25,247,900 based on estimated toll transactions and current RCTC 91 Express Lanes traffic and revenue data as adjusted for projected COVID-19 impacts, while the balance of $2,957,100 represents penalties and fees related to toll transactions and other customer account fees. Investment income representsearningson operating and other restricted funds. Debt proceeds, including bond premium, consist of $667,528,000 in 2020 Refunding Bonds from the refinancing of the Commission's 2013 Toll Bonds and 2013 11RA Loan. The Commission approved this refinancing in March 2020; however, the Commission postponed the transaction due to the market disruptionscaused by the COVID-19 crisis. 70 Chart 23 — RC1C 91 Express Lanes Enterprise Fund Sources FY 2020/21 Tolls, Penalties, and Fees 4% Debt Proceeds 96% Toll operations expenses in FY 2020/21 are necexary to manage the operations, maintenance, and capital support of the RCTC 91 Express Lanes (Chart 24). Personnel salaries and benefits represent less than 1% of the total budgeted uses. Professional and support costs are 2% of budgeted uses and include system, equipment, and road maintenance; insurance; violation enforcement; consulting services; and marketing. Program and operationsof $15,340,800 consist of the contracted operators' expenses related to operating and maintaining the toll lane hardware and software and customer service center, toll processing, and violation collection processing. Construction and design -build costsof $1,500,000 and $400,000, respectively, include required major repair and rehabilitation activity. Debt service includes $498,707,000 for the refinancing of the 91 Project toll debt with proceeds from the 2020 Refunding Bondsand interest paymentsof $7,119,900 forthe current interest portion of the 2013 Toll Bonds. Capital outlay of $305,000 is related to the transition to new 6c transponder technology. Chart24—RC1C 91 Express Lanes Enterprise Fund UsesFY2020/21 Professional Program and and Sapport Operations 2% r 2% Debt Service 96% Payment to escrow agent of $147,488,000 relates to the refunding of the current interest portion of the 2013 Toll Bondswith proceedsfrom the 2020 Refunding Bonds. Transfers out to the General fund of $1,025,300 are administrative cost allocations. 71 15 Express Lanes the 15 Express Lanes is expected to open in late 2020 and will consist of tolled express lanes in each direction from Cajalco Road in Corona to the 9R60 interchange in Jurupa Valley. Tolled revenues and non -toll revenues fund maintenance and operating costs, rehabilitation, capital expenses, and debt service (Table 38). the 15 ExpressLanestoll collection system isall electronic transactions, with no toll collection booths. Commuters on 1-15 have a choice of using either expresslanesorthe general purpose lanes. Table 38—RCTC 15 Express Lanes Enterprise Fund FY2019-2021 FY18/19 FY19/20 FY19/20 FY20/21 Dollar Percent Actual Revised Budget Projected Budget Change Change Revenues Federal Reimbursements Tolls, Penalties, and Fees Other Revenue TOTAL Revenues Expenses Personnel $3 lades and Benefits Professional and Sipport Professional cervices Sipport Costs lOTAL Professional and Sipport Costs Program and Operations Program and Operations lOTALProjectsand Operations Capital Outlay TOTAL Expenses Excess(deficiency) of Revenues over (under) Expenses Other Rnancing Sources(Uses) Transfers In TransfersOut Net Rnancing Sources (Uses) Excess (deficiency) of Revenues over (under) Expenses and Other Rnancing Sources(Uses) Beginning Rind Balance ENDING FUND BALANCE $ - $ - $ $ 78,000 14, 053, 900 96,500 14, 228, 400 461,200 2,400, 300 3,353,000 5,753,300 9,561,000 9,561,000 10,000 15, 785, 500 (1,557,100) 1,902,000 (344,900) 1,557,100 $ 78,000 N/A 14,053,900 N/A 96,500 N/A 14,228,400 N/A 461,200 N/A 2,400,300 N/A 3,353,000 N/A 5,753,300 N/A 9,561,000 N/A 9,561,000 N/A 10,000 N/A 15,785,500 N/A (1,557,100) N/A 1,902,000 N/A (344,900) N/A 1,557,100 N/A N/A N/A $ N/A Federal reimbursements budgeted in FY 2020/21 reflects CARES Act funding. Tolls, penalties, and fees revenues represent the primary revenue source for the enterprise fund (Chart 25). Such revenues consist of $12,082,000 based on estimated toll transactions, while the balance of $1,971,900 represents penalties and feesrelated to tolltransactionsand othercustomeraccountfees. Investment income representsearningson operating and other restricted funds. Chart 25—RCTC 15 Express Lanes Enterprise Fund Sources FY 2020/21 Transfers In 12% Other Revenue 1% `l\ --Tolls, Penalties, and Fees 87% 72 Chart 26—RC1C 15 Express Lanes Enterprise Fund Uses FY 2020/ 21 Transfers Out 2% Program and Operations 59% Personnel Salaries and Benefits 3% Professional and Support 36% Toll operationsexpensesin FY2020/21 are necessary to manage the operations, maintenance, and capital support of the 15 ExpressLanes(Chart 26). Personnel salariesand benefitsrepresents3%ofthe total budgeted uses. Professional and support costs is 36% of budgeted uses and includes system, equipment, and road maintenance; insurance; violation enforcement; consulting services; and marketing. Program and operationsof $9,561,000 consist of the contracted operator'sexpensesrelated to operating and maintaining the toll lane hardware and software and customer service center, toll processing, and violation collection processing. Capital outlay of $10,000 isrelated to computerequipment. Transfersout include $344,900 to the General fund forthe administrative cost allocations. 73 Table 39 —Budget Comparison by Department FY2019 —2021 FY18/19 FY19/20 FY19/20 FY20/21 Dollar Percent Actual Revised Budget Projected Budget Change Change Revenues Measure A BulesTax LIFSalesTax STA alesTax Federal Reimbursements Sate Reimbursements Local Reimbursements IUMF Revenue Tolls, Penalties, and Fees Other Revenue Investment Income Total Revenues $ 201,205,000 $ 178,000,000 $ 178,000,000 103,819,400 91,000,000 91,000,000 27,201,800 31,050,600 28,697,900 67,752,600 89,718,700 42,514,800 64,007,900 160,896,100 123,494,700 6,933,900 9,858,900 3,835,700 29,968,500 17,240,000 17,240,000 58,423,500 67,201,100 49,622,000 6,264,700 652,000 653,700 23,050,800 9,500,000 10,741,400 588,628,100 655,117,400 545,800,200 Expend ituresl Exp enses Management Services Executive Management 607,700 773,700 989,800 Administration 2,712,600 4,120,800 3,505,100 External Affairs 2,204,100 3,265,900 4,960,800 Rnance 2,948,600 6,177,000 5,118,400 Total Management %rvices 8,473,000 14,337,400 14,574,100 Regional Programs Planning and Programming Services Rail Maintenance and Operations Public and Specialized Transit CommuterAssstance Motorist Assistance Total Regional Programs Capital Project Development and Delivery Toll Operations Debt rvice Principal Payments Interest Payments Cost of Issuance Total Debt Service Total Expenditures/ Expenses 3,959,600 27,563,900 119, 602, 800 3,370,200 4,178,400 13,598,500 45,302,500 163,125,200 4,686,900 6,641,500 7,760,700 39,046,500 143,008,900 3,976,700 4,757,700 158,674,900 233,354,600 198,550,500 296,823,500 553,856,900 398,341,400 12,779,100 21,310,500 15,918,100 25,977,500 511,816,600 27,245,000 50,715,600 49,412,400 49,409,400 2,720,000 - 76, 693,100 563,949,000 76,654,400 553,443,600 1,386,808,400 704,038,500 Excess (deficiency) of Revenues over (under) Expenditures/ Expenses 35,184,500 (731,691,000) (158,238,300) Other Rnancing Sburces(U%s) Tra nsfers In Transfers Out Debt Proceeds LIRA Loan Proceeds Payment to Escrow Agent Bond Premium Net Rnancing S urces(Uses) Excess (deficiency) of Revenues over (under) Expenditures/ Expenses and Other Rna ncing SD urces (Uses) Beginning Fund Balance 139,401,800 (139,401,800) 14,946,100 166,746,000 (166,746,000) 625,425,000 75,703,000 (142,975,000) 39,967,400 167,757,300 (167, 757, 300) 89,896,000 14, 946,100 598,120,400 89,896,000 50,130,600 (133,570,600) (68,342,300) 839,684,400 889,815,000 889,815,000 Ending Fund Balance $ 889,815,000 $ 756,244,400 $ 821,472,700 $ 160,000,000 82,000,000 28,656,900 103,695,200 155, 006,100 18, 565,100 15,500,000 42,258,900 621,500 3,545,500 609,849,200 644,800 3,572,700 2,096,000 5,509,000 11,822,500 7,198,500 54,328,400 100,332,100 4,936,800 6,351,700 173,147,500 486,814,100 44,444,800 513,066,600 59,395,900 2,883,400 575,345,900 1,291,574,800 (681,725,600) 177, 599,100 (177, 599,100) 627,550,000 47,371,900 (147,488,000) 39,978,000 567,411,900 (114,313,700) 821,472,700 $ 707,159,000 $ (18,000,000) -10% (9,000,000) -10% (2,393,700) -8% 13,976,500 16% (5,890,000) -4% 8,706,200 88% (1,740,000) -10% (24,942,200) -37% (30,500) -5% (5,954,500) -63% (45,268,200) -7% (128,900) -17% (548,100) -13% (1,169,900) -36% (668,000) -11% (2,514,900) -18% (6,400,000) -47% 9,025,900 20% (62,793,100) -38% 249,900 5% (289,800) -4% (60,207,100) -26% (67,042,800) -12% 23,134,300 109% 1,250,000 0% 9,983,500 20% 163,400 6% 11,396,900 2% (95,233,600) -7% 49,965,400 -7% 10,853,100 7% (10,853,100) 7% 2,125,000 0% (28,331,100) -37% (4,513,000) 3% 10,600 0% (30,708,500) -5% 19,256,900 -14% (68,342,300) -8% $ (49,085,400) -6% 74 Executive Management Mission Statement: Executive Management maintains the highest level of achievement and professionalism while managing the activities of the Commission to effectuate sound transportation policies, projects, and servicesto meet Riverside County'smobility needs. Chart 27 —Executive Management Support Costs 14% Professional Costs 40% Expenditures Salaries and Benefits 46% Executive Management has a budget of $644,800 (Table 40) for oversight of all Commission functions. lhe 34%decrease in salaries and benefits reflects the one-time disbursement to fund the Commission'sCalPERSretirement net pension liability in the priorfiscal year. Asa cost savings measure, there will be no performance merit -based salary increases in FY 2020/21. Professional costsof $260,000 include legal feesand organizational consulting services. Support costs include variousmembership duesand staff -related travel costsof $91,800. Table 40 —Executive Management Expenditure Detail FY18/19 Actual FY 19/ 20 FY 19/ 20 Revised Budget Projected FY 20/ 21 Budget Dollar Percent Change Change Salaries and Benefits Professional Costs Legal Services Professional rvices- General Total Professional Costs &ipport Costs TOTAL Executive Management $ 372,900 $ 115,400 58,800 174,200 60,600 $ 607,700 $ 445,100 $ 678,700 $ 293,000 $ (152,100) -34% 175,000 206,300 200,000 60,000 30,000 60,000 235,000 236,300 260,000 93,600 74,800 91,800 773,700 $ 989,800 $ 644,800 $ 25,000 (1,800) (128,900) 25,000 14% 0% 11% -2% -17% 75 Executive Management Staffing Summary Position FY 18/ 19 FY 19/ 20 FY 20/ 21 Deputy Executive Director 0.10 0.10 Executive Director 0.47 0.38 SeniorAdministrative Assistant 0.00 0.01 Senior Office Assistant 0.16 0.15 FIE 0.73 0.64 Department Overview 0.13 0.40 0.02 0.16 0.71 the Executive Directorisresponsible fordeveloping and implementing new strategiesatthe local, regional, and statewide levels to assure delivery of transportation improvements and programs throughout the County. Furthermore, Executive Management iscommitted to fostering a positive and supportive work environment for staff that emphasizes quality work and encourages teamwork and open communication, with a commitment to serving the public. phis is accomplished through a productive and collaborative effort with the membersofthe Commission and the oversight of the Commission'sExecutive Committee. Asa result of the COVID-19 crisis, under Executive Management's leadership, it will be critical for the Commission to proactively manage and assess the economic consequences of COVID-19 and implement risk management strategies to minimize impacts to programs, projects, and personnel. Further, maintaining transparency in and public accessibility to the Commission's operationswill be essential. Department Goals EM1 — Focus on timely and effective completion of capital projects and implementation of needed transportation services. (Policy Goals Quality of Life, Resoonsible Partner) EM2 — Maximize funding for transportation improvements in Riverside County through legislative advocacy. (Policy Goals Quality of Life) EM3—Support regional transportation solutions in cooperation with surrounding countiesthat are of benefit to Riverside County. (Policy Goa& Quality of Life, Operational Excellence, Responsible Partner) EM4—Maintain effective working relationshipswith Commissionersto strengthen and expand the Commission'sleadership in transportation policy decision -making at all levelsof government and raise the Commission's profile in the community. (Policy Goals. Quality of Life, Operational Excellence) EM5—Promote the Commission'seffectivenessby improving and developing staff skills, using state- of-the-art working tools, and fostering an environment that encourages and rewards individual and team effort. (Policy Goal: Operational Excellence) EM6 —Develop the framework fora Commission culture that enhances productivity, encourages regular and open communication among staff, and promotes the mutual achievement of individual and organizational goalsand objectives. (Policy Goal: Operational Excellence) 76 ID Executive Management Performance Measures and Results FY18/19 Estimated FY18/19 Actual FY19/20 Estimated FY20/21 Projected EM1 EM3 Expenditures/ Expenses $649,838,400 $553,443,600 $704,038,500 $1,291,574,800 EM5 EM6 Staffing levels 51 46 54 50 EM5 Administration costsas percentage of expenditures/ expenses 1.3% 1.9% 2.8% 2.4% 77 Administration Mission Statement: Comprised of office operations — including information technology, clerk of the board, and human resources, Administration provides quality and efficient services to the Board of Commissioners, staff, and extemal customers in compliance with applicable federal, state, and local requirements. Chart 28 —Administration Capital Outlays 11% 9.apport Costs 36% Expenditures lades and Benefits 22% Professio na I Costs 31% As noted in Table 41, the Administration Department's total budget is $3,572,700 for office operations including management of office space, lease, and equipment; records; Commission and committee meetings; special events; Clerk of the Board; and Human Resources. Salariesand benefitsexpendituresof $781,500 reflect a net decrease of 47%for the one-time disbursement to fund the Commission's CaIPERSretirement net pension liability in the prior year. Asa cost savings measure, the Information Technology Administrator FfEwill remain unfilled and there will be no performance merit -based salary increases in FY 2020/21. Professional costs of $1,113,600 cover variousservicesincluding, but not limited to, Commissioners' per diem, legal fees, and consultant and other professional services and reflect an increase of 2%related to information technology services Sl.tpportcostsof$1,272,600coveradministrative overhead including office maintenance; information technology updates, support, and maintenance; and recruitments. Capital outlay of $405,000 covers office space improvements, information technology improvements and upgrades, and equipment upgrades. 78 Table 41 -Administration Expenditure Detail FY18/19 FY19/20 FY19/20 FY20/21 Dollar Percent Actual Revised Budget Projected Budget Change Change Salariesand Benefits Professional Costs Commissioner Per Diem Legal cervices Professional rvices-General Total Professional Costs alp port Costs Capital Outlay Debt Service TOTAL Ad m inistra do n $ 778,500 $ 1,483,800 $ 1,248,900 47,700 65,000 70,300 95,000 600,200 935,200 45,000 50,000 896,500 718,200 1,095,200 991,500 783,600 1,091,600 989,200 432,300 450,200 275,500 17,500 - - $ 2,730,100 $ 4,120,800 $ 3,505,100 Administration Staffing Summary $ 781,500 65,000 95,000 953,600 1,113, 600 1,272,600 405,000 $ 3,572,700 $ (702,300) -47% 0% 0% 18,400 2% 18,400 2% 181,000 17% (45,200) -10% N/A $ (548,100) -13% Position FY18/19 FY19/20 FY20/ 21 Administrative ServicesManager-Clerk of the Board 1.00 1.00 Deputy Clerk of the Board 1.00 1.00 Deputy Director of Rnance 0.05 0.00 Deputy Executive Director 0.05 0.03 Executive Director 0.00 0.00 FacilitiesAdministrator 0.09 0.02 Human ResourcesAdministrator 1.00 1.00 ITAdministrator 0.00 1.00 Procurement Manager 0.01 0.01 RecordsTechnician 0.96 1.00 SeniorAdministrative Assistant 0.11 0.10 Senior Management Analyst 0.00 0.04 Senior Office Assistant 0.53 0.55 Senior Procurement Analyst 0.00 0.02 FIE 4.80 5.77 Department Overview - Office Operations 1.00 1.00 0.00 0.08 0.10 0.07 1.00 0.00 0.00 1.00 0.17 0.02 0.53 0.02 4.99 Office Operationsoverseesthe daily maintenance needsof the Commission'soffice facilitiesand staff; manages information technology and records management systems; oversees the office lease with the County; purchases office supplies and equipment; posts public notices on the website and local newspaper; maintains a safe working environment for Board members, staff, and consultants; and providessupport services. Department Goals- Office Operations OO1 -Ensure quality service that demonstratesresponsivenessand flexibility and providesservices at the most reasonable cost. (Policy Goal: Operational Excellence) 002 - Facilitate access to Commission information and records. (Policy Goal: Operational Excellence) 79 De pa rtm a nt Overview — Clerk of the Boa rd the Clerk of the Board providessupport servicesto the Board of Commissionersand itsalternates and for Commission and committee meetings. It serves as an important resource for the Commission and hasthe responsibility for: • Recording, publishing, preserving, and filing meeting proceedingsof documentsacted upon by the Commission and itscommittees; • Processing claimsagainst the Commission; • Fulfilling requirements of the Commission and the committees as it relates to the Conflict of Interest Code; • Serving as the Fling Officer for Economic Interest and Campaign Disclosure statements and legal claimsagainst the Commission; • Coordinating Commission special eventsand meetings; and • Performing all dutiesrequired by law, rules, or order of the Board. Assuch,thisdepartment hasa direct link and responsibility to serve localtaxpayersand the public while supporting the actions of the Commission. the need to be accountable to the public at large is further amplified by the need to comply with federal and state law requiring prompt responsesto California Public RecordsAct requests. Department Goals —Clerk of the Board CB1 — Ensure coordination and documentation of Commission and committee meetings and provide public accessibility to agenda items as required by state regulations. (Policy Goal: OperationalExcellence) CB2 — Facilitate access to Commission meetings and activities. (Policy Goal: Operational Excellence) Department Overview — Human Resources Human Resourcesresponsibilitiesinclude: • Planning, administering, and implementing human resources programs, including the recruitment, selection, and appraisal process; • Employee training and development; • Classification and compensation studies; • Benefitsadministration; • Employee relations; and • Recommending, implementing and maintaining personnel policies, procedures, and practices. Department Goals —Human Resources HR1 —Administer human resourcespolicies, procedures, and programsin orderto align personnel laws and the Commission's policies with continuous improvement principles. (Policy Goal: OperationalExcellence) HR2 — Continue to employ and recruit a dynamic and talented workforce. (Policy Goal: OperationalExcellence) HR3—Develop people to be theirbest in orderto meet the needsofthe organization. (PolicyGoal: OperationalExcellence) 80 HR4 — Understand and consistently deliver excellent customer service to all employees. (Policy Goal: Operational Excellence) HR5 —Improve the quality of the work culture. (Policy Goal: Operational Excellence) ID Administration Performance Measures and Results FY18/19 Estimated FY18/19 Actual FY19/20 Estimated FY20/21 Projected 001 Staff supported: Regularfull-time 51 46 54 50 002 Legal notices 22 29 25 25 CB1, CB2 Commission, Committee, and Ad Hoc meetings 50 53 50 50 CB1 Commissionerssupported (including altemates) 62 62 62 62 HR1, HR4 Employee Policiesand Procedures/Benefitsreview sessions held 2 2 2 2 HR2 Recruitments 6 4 6 4 HR2 Positionsfilled 6 4 6 4 HR3 Employee Training Sessions held N/A N/A 3 3 81 Exte ma I Affairs Mission Statement: External Affairs communicates, engages in, and develops relationships with the public, key stakeholders, and governmental decision -makers to connect the lives of Riverside County residents. Chart 29 — Exte ma l Affairs S3laries and Benefits 40% Pro fe ssi o n a l Costs 49% Expenditures The External Affairs Department has a total budget of $2,096,000 (Table 42), an overall 36% decrease primarily due to completion of the public engagement program related to the Traffic Relief Plan. Salariesand benefitsreflect a net decrease of45%due to the one-time disbursement to fund the Commission'sCalPERSretirement net pension liability in the prioryear. Asa cost savings measure, there will be no performance merit -based salary increases in FY 2020/21. Professional costsof$1,018,500, reflect an 8%decrease and include legislative advocacy, graphic design, and website updates. Support costs of $234,100, reflect a 62% decrease and include advertising, various membership dues, and subscriptions to business software products and journalistic publications. Support costs also include staff -related travel costs, which remain at flat levels, to Sacramento, Washington, D.C., and professional conferences. Table 42 - External Affairs Expenditure Detail FY18/19 FY19/20 FY19/20 FY20/21 Dollar Percent Actual Revised Budget Projected Budget Change Change Salariesand Benefits Professional Costs Legal cervices Professional Services- General Total Professional Costs 3ipport Costs TOTAL External Affairs $ 869,300 $ 1,542,000 $ 1,288,300 38,400 1,115, 600 45,000 20,000 1,066,000 3,063,500 1,154,000 1,111,000 3,083,500 180,800 612,900 589,000 $ 2,204,100 $ 3,265,900 $ 4,960,800 $ 843,400 35,000 983,500 1,018,500 234,100 $ 2,096,000 $ (698,600) -45% (10,000) -22% (82,500) -8% (92,500) -8% (378,800) -62% $ (1,169,900) -36% 82 ExtemaI Affairs Staffing Summary Position FY 18/ 19 FY 19/ 20 FY20/ 21 Deputy Executive Director 0.59 0.48 External AffairsDirector 0.78 0.78 Legislative AffairsManager 0.96 0.96 Planning and Programming Manager 0.00 0.00 Public Affairs Manager 0.57 0.48 SeniorAdministrative Assistant 0.75 0.75 Senior M anagement Analyst 0.59 0.48 Senior Procurement Analyst 0.02 0.03 FIE 4.26 3.96 Department Overview 0.52 0.60 0.85 0.05 0.38 0.78 0.37 0.05 3.60 The External Affairs Department managestwo core functions: legislative affairsand public affairs. These are public -facing functions with high impact on how citizens, stakeholders, and decision- makersinteract with the Commission. Legislative Affairs Improved mobility for Riverside County residentsrequiresthe financial resourcesand public policy to implement transportation projectsand programs. Through proactive advocacy at all levelsof government, the Commission exercises leadership to advance the agenda of Riverside County taxpayers. The Commission's legislative engagement takes many forms including, but not limited to • Seeking specific itemsin state orfederal budgets; • Changing the law; • Shaping rulesand regulations; • Educating elected, appointed, and career government officials, as well as interest groups; and • Advocating for grant funds. Coverage of the many policy and funding issues that affect mobility within Riverside County requires a team approach. the Commission's historically effective and savvy approach to legislative advocacy is consistent with the Commission's overall theme of a lean staff and use of consultantsin theirareasof expertise. The Commission retainslegislative consultantswith decades of experience in transportation policy and funding based in Washington, D.C. and Sacramento, providing day-to-day representation and insights that help guide staff. The consultants, often referred to as legislative advocates or lobbyists, are procured every few years through a competitive and transparent processthat seeksto acquire the greatest talent and the best value for the Commission. The FY2020/21 budget does not contemplate any increases in retainer fees for legislative consulting services, as the 2016 procurement of these consultants yielded level overall feescompared to FY2019/20. Staff, in consultation with the legislative advocates, provides recommendations and support to Commissioners, who set legislative policy priorities and are often the Commission's most effective advocates in Washington, D.C. and Sacramento. Commissioner engagement takesthe form of 83 actions such as adopting a legislative platform; taking positions on individual bills; and communicating with government decision -makers in writing, verbally, or through trips to capital cities. thus, the Commission'steam approach for legislative advocacy is best likened to a three- legged stool held up by Commissioners, professional staff, and professional legislative consultants. An essential component of the Commission's legislative affairs program is participation in formal and informal coalitions of similarly -interested agencies and stakeholders. Examples of formal coalitionsare: • Mobility 21 —a coalition of public agencies, the Automobile Club of Southern California, and businessadvocacy groupsin southern California; • Self Help Counties Coalition —an alliance of all California countieswith voter -approved sales taxesfortransportation projects; • California Association of Councils of Government — a diverse alliance of transportation and planning agencies that are impacted by the Slate's laws and regulations on land use, air quality, and transportation; • CTOC —an industry group of tolling agenciesthat collaborate on mattersof common interest pertaining to operations, technology, finance and public policy; and • International Bridge, Tunnel, and Tumpike Association —an industry group of public and private stakeholdersin the tolling industry that focuseson federal policy and developing best business practiceswithin the tolling community. Although participation in the coalitions requires staff and consultant time, they leverage the collective strength of more voices beyond the Commission, which is often necessary to affect policy change. Additionally, members of these coalitions may have expertise and resources outside of the Commission's current capability that can contribute significant value to the Commission. Active engagement by the Commission in the development and implementation of significant federal infrastructure legislation is neceusary to ensure Riverside County taxpayers receive a proportional benefit to any federal investment. Moreover, implementation of the federal Fixing America's Sirface Transportation (FAST) Act continues, meaning significant rulemakings and release of grant funding opportunitiesare anticipated. A key recommendation of the Commission'sStrategic Asssment isforthe Commission to pursue state and federal funding for priority projects, given the yawning gap of funding for Riverside County's long-term mobility needs. In pursuit of executing this recommendation, in 2017, the Commission developed an on -call grant writing bench comprised offourhighlyqualified firms. This bench was utilized in FY2017/18 and FY2019/20 to pursue competitive state and federal funding from SB 1 and the U.S. DOT. The bench will continue to be called upon in FY2020/21 and beyond to pursue additional competitive grant funding opportunities. Public Affairs The Commission's commitment to engage and educate residents, business operators, and motoristsrequiresa comprehensive public affairsprogram. The Commission continuesto develop relationshipswith the public and majorstakeholdersthrough many channels, including: • Engaging in two-way dialogue with the public via RCTC's Facebook, Twitter and Instagram platforms, with a focus on thoughtful, quick responses to questions and comments, and an increasing number of short videos; 84 • Building awareness and support for the Commission's projects, services, and funding challengesthrough a comprehensive, data -driven public engagement program, with toolsto receive public feedback about transportation prioritiesand funding; • Maintaining and enhancing the RCTC.org website and supporting other Commission project - related websites; • Providing newsupdatesthrough RCTC'sblog, The Point, and sending monthly newsletters; • Producing and providing resource materials, such as fact sheets, brochures, annual reports, and newsletters in print and digital form; • Communicating with news media outlets through news releases, radio and television interviews, advertisements, and cable television recordings; • Interacting with communities of interest and stakeholder groups, such as chambers of commerce, industry associations, service clubs, and other community -based organizations and busineaccs; • Participating in or hosting public meetings; and • Measuring public affairs activities to axossprogress toward goals and determining the most effective meansof reaching variousstakeholders. The Commission will place continued emphasis on providing communications support to major projects, such as: • 1-15 Express Lanes • SR60truck lanes • Pachappa underpass • I-15/Railroad Canyon Road Interchange • Mid County Parkway (1-215 Placentia Avenue Interchange) • 91 COP • 15/91 ExpressLanesConnector • 1-15 Express Lanes -Southern Extension • 71/91 Connector • Riverside -Downtown Metrolink Station Improvements • Coachella Valley -San Gorgonio Passcorridor rail service The Commission also promotes high -value public services, such as FSP, VanClub, and other motorist and commuter assistance programs. In addition, the Commission continues to support the public outreach efforts of Caltrans District 8 and member jurisdictions, in relation to transportation planning and construction activities. The Commission'scommunicationseffortsalso focuson marketing and customerservice forpublic transit operationsincluding Metrolink service, the RCTC 91 ExpressLanes, and the 15 ExpressLanes. The Commission hasa significant stake in ensuring positive experiences by the public with these transit and toll services. A majoremphasisforthe Commission isincreased digital communications. The FY2020/21 budget includes major investments to improve the Commission's engagement in online and mobile communications with its customers and constituents. The public can expect to see increased information from The Point, the Commission'se-newsletter and blog; RCTC.org, the Commission's website; and social media accounts, @therctc. Staff will continue to produce quarterly reportsto monitorthe effectivenessof these digital communication activities. In March 2019, based on direction provided by the Commission, staff initiated the #RebootMyCommute public engagement program to identify transportation challenges faced 85 by Riverside County residents. lhe Commission collected public input and opinion polling data from across Riverside County. lhe Traffic Relief Strategy Committee then directed the development of a draft Traffic Relief Plan. lhe Commission adopted the draft Traffic Relief Plan for public review in January 2020. In April 2020 and asa result of the COVID-19 crisis, the Commission took action to decline to place the Traffic Relief Plan on the November 2020 ballot. lhe Commission adopted the final Traffic Relief Plan in May 2020, and it has independent utility asan aspirational planning document supported by grassroots public input. The Commission can use the Traffic Relief plan asa reference point forfuture decisions; the projectsand serviceswithin the plan are unlikely to be delivered without a funding source. Measure A remainsthe Commission's most significant funding source and is tied to specific projects and programs approved by Riverside County voters in 2002. Facts demonstrate that Measure A revenue and status quo funding from state, federal, toll, and development fee programswill not be sufficient to deliver all projects in the Measure A expenditure plan before Measure A sunsets, let alone the additional projects in the Traffic Relief Plan. The Traffic Relief Plan fulfills the objectives of the Commission - adopted 2016 RCTC Strategic Asscssment and meets the requirements of Public Utilities Code Section 240302. Department Goals The Extemal Affairs Department plays a unique role by providing broad internal support to all Commission departmentswhile also being the conduit fora wide variety of external stakeholders to receive information and advance the public's general interest in better mobility in Riverside County. To that extent, the External Affairs Department's goals truly are the Commission -wide goalsof quality of life, operational excellence, connecting the economy, and being a responsible partner. lhe External Affairs Department will adapt to ensure achievement of these broader organizational aims. ExtemalAffairs Performance Measures and Results FY18/19 Estimated FY18/19 Actual FY19/20 Estimated FY20/21 Projected Legislative action submittalsto Commission 8 10 8 8 Commisson-adopted legislative positions 8 10 8 8 Sate/federal/regional grantspursued 1 4 4 3 Itemsof state orfederal legislation sponsored by the Commission 0 0 0 0 Annual legislative delegation staff briefing 0 0 1 1 Speakersbureau/stakeholderpresentations/events 100 94 110 125 Social media postingsperweek (average) 6 7 6 7 Facebook"likes" 8,000 8,447 8,500 9,500 Twitter followers 1,200 1,154 1,300 1,350 Instagram followers 500 448 600 650 "The Point" postingspermonth (average) 4 4 4 4 "The Point" subscribers 2,000 3,260 3,300 3,500 Website visitorspermonth (average) 12,000 25,698 28,000 29,000 86 Finance Mission Statement: Finance safeguards the Commission's a000ts and maintains strong and prudent fiscal controls in accounting, budgeting, procurements, debt financing, investing, and financial reporting including ongoing disclosure to all interested parties. Finance seeksfinancing altemativesthat complement the Commission'sstrategic direction. Chart 30 - Finance allariesand Benefits 10% Expenditures Professional Costs 15% Capital Outlay 6% the Finance Department'stotal budget is$15,516,700 (Table 43) and reflectsa 5%decrease over the prioryear'sbudget. Department staffing costswill total $1,625,900 and reflect a 36% net decrease due to the one-time disbursement to fund the Commission's CaIPERSretirement net pension liability in the prior year. Asa cost savings measure, there will be no performance merit -based salary increases in FY 2020/21. Professional costs of $2,361,000 include various services related to general and specialized legaI,fine ncialand investment advisory, audits, debt management, CAFRand annual budget graphic design and publication, and procurement. S.rpport costs of $608,800 include insurance, printing, and staff training. Capital outlay of $913,300 includes ERP updates. Transfers out of $10,000,000 and $7,700 are related to funding a portion of the debt service interest payments and administrative costo the General fund, respectively, from the 2009 Measure A Western County bond financing program. Table 43-Finance Expenditure Detail FY 18/ 19 Actual FY19/20 FY19/20 Revised Budget Projected FY20/21 Budget Dollar Percent Change Change Salariesand Benefits Professional Costs Legal Services Audit Services Financial Advisory Professional cervices- General Total Professional Costs 9apport Costs Capital Outlay TransfersOut 10TAL Anance $ 1,221,800 $ 66,000 502,000 128,600 582,200 2,523,100 $ 2,684,100 240,000 573,700 250,000 1,136,400 1,278,800 2,200,100 341,000 608,800 107,000 845,000 11,197,100 10,087,900 $ 14,145,700 $ 16,264,900 $ 210,000 473,700 278,500 942,700 1,904,900 347,700 181,700 10, 087, 900 15,206,300 $ 1,625,900 270,000 622,300 275,000 1,193, 700 2,361,000 608,800 913,300 10, 007, 700 $ 15, 516, 700 $ (897,200) -36% 30,000 13% 48,600 8% 25,000 10% 57,300 5% 160,900 7% 0% 68,300 8% (80,200) -1% $ (748,200) -5% 87 Finance Staffing Summary Position FY 18/ 19 FY 19/ 20 FY20/ 21 Accountant 0.94 0.94 0.99 Accounting Assistant 2.00 2.00 2.00 Accounting aipervisor 0.00 1.00 1.00 Accounting Technician 1.97 2.00 2.00 Chief Financial Officer 0.69 0.62 0.66 Deputy Director of Finance 0.92 0.94 0.92 Procurement Manager 0.14 0.16 0.20 SeniorAdministrative Assistant 0.60 0.67 0.55 Senior Financial Analyst 0.51 0.42 0.60 Senior Management Analyst 0.00 0.01 0.01 Senior Office Assistant 0.31 0.30 0.31 Senior Procurement Analyst 0.15 0.08 0.10 FIE 8.23 9.14 9.34 Department Overview Finance and Accounting Commission resourcesare allocated to assure financial stability and fiscal accountability. Finance activities include investing the Commission's cash resources, planning and directing financial transactions, and subsequent monitoring of legal and regulatory requirements. Adequate cash flow must be maintained while at the same time prudently investing operating and capital funds. Borrowing needsare carefully planned using both short -and long-term debt. Once debt isissued, there are ongoing responsibilities including interaction with financial advisors, bankers, dealers and remarketing agents, underwriters, bond counsel, bond insurers, trustees, issuing and paying agents, arbitrage consultants, investment managers, and rating agencies as well as providing regular and consistent information disclosure to investors who hold the Commission's sales tax revenue and toll revenue bondsand the U.S. DOTforl1FiA loans. Fiscal accountability involves receiving all funds due the Commission, paying all Commission obligations, maintaining the general ledger, reporting regularly on the Commission'sfiscal results, and preparing and monitoring the budget. Fiscal accountability requires the coordination of budget planning and monitoring and the accurate and timely accounting forallfunding sources, including compliance with all applicable lawsand regulationsgoverning those funds. Accounting encomparrrs cash receipt and disbursement functions, maintenance of the general ledger including project cost accounting, payroll processing, debt and investment management, quarterly and annual financial reporting, and retention of and coordination with independent a ud itors. the Commission also recognizesthe importance of accountability forthe organization. Asa result, the Commission is highly regarded by individuals, peers, other organizations, and government officials at a local, regional, state, and national basis. A formal organizational accountability program isin place to addressfraud risk, ethical conduct, and financial and operational disclosure and to maintain the public's confidence in the Commission. Accordingly, measures have been implemented based on a conceptual framework related to oversight, reporting, fraud, internal control, and ethics. 88 Procurement Management Procurement management is responsible for the purchase of all goods and services, in accordance with the Commission's Procurement Policy Manual and federal and state funding requirements to ensure the implementation of the Commission's projects and programs. the procurement process is centralized and includes conducting outreach, issuing solicitations, oversight of the proposal evaluation process, conducting contract negotiations, recommending contract award, and updating procurement policiesand proceduresasrequired. After contract award and during the contract lifetime, contract administration activitiesinclude issuing contract task orders and amendments; ensuring compliance with contract terms, conditions, and deliverables; and monitoring contract balancesto prevent contract overruns. Procurement management also includesoversight of the Commission'sDBEand SBEprogram. phis includes developing DBE contract goals, attending various DBE/SBE outreach events to encourage participation on Commission contracts, monitoring DBE participation achievement, and ensuring all vendors have an equal opportunity to provide the Commission with goods and services. Risk management includes identifying Commission insurance needsto protect the Commission's acts such as its commuter rail stations, toll facilities, and vacant land, and to ensure that insurance requirementsforservicespurchased with public fundsare applied in the Commission's best interests. Activities also include reviewing scopes of work to ensure insurance limits are adequate, tracking consultant insurance certificates, managing claims, and annually reviewing and renewing the Commission'sinsurance policies. Department Goals F1 — Protect the Commission's cash resources by regular monitoring of investment practices to ensure consistency with established investment policy. (Policy Goal: Operational Excellence) F2—Manage the Commission'soutstanding debt ensuring compliance with applicable lawsand regulations and continued investor awareness and receptivity to the Commission's program. (Policy Goal: Operational Excellence) F3 — Ensure the Commission and funding recipients comply with Measure A and IDA laws and regulations as they relate to the annual financial and compliance audits as well as close cooperation and coordination with independent auditors. (Policy Goal: Operational Excellence) F4 — Maintain fiscal and budgetary control through monitoring of periodic results and ensuring consistency with the Commission'sstrategic direction. (Policy Goal: Operational Excellence) F5 — Assure fiscal accountability for Commission funds with general ledger accounting and financial reporting consistent with generally accepted accounting principles. (Policy Goal: Operational Excellence) F6 — Develop and maintain an organizational accountability program encompassing financial and operational functions. (Policy Goal: Operational Excellence) F7 — Procure goods and services from qualified consultants, contractors, and other vendors in accordance with laws and regulations at a competitive price. (Policy Goal: Operational Excellence) 89 F8 — Review existing procurement policiesand procedures (Policy Goal: Operational Excellence) F9 — Protect the Commission's moots by ensuring appropriate insurance is obtained. (Policy Goal: Operational Excellence) ID Finance Performance Measuresand Results FY18/19 Estimated FY18/19 Actual FY19/20 Estimated FY20/21 Projected F2 Sa les tax revenue bonds rating Aa2/AA+/AA Aa2/AA+/AA Aa2/AA+/AA Aa2/AA+/AA F2 Toll revenue bond rating: 2013 Bonds 2020 Bonds(pending) SeniorLien Second Lien BBB-/ BBB N/A N/A BBB/ BBB N/A N/A A/BBB+ A/BBB+ A -/BBB A/BBB+ A/BBB+ A -/BBB F2 11F1A loan rating: 201311FiA Loan 201711FiA Loan BBB- BBB-/ BBB BBB BBB-/ BBB BBB+ BBB-/ BBB BBB+ BBB-/ BBB F2 Commercial paper rating P-1/A-1+ P-1/A-1+ P-1/A-1+ P-1/A-1+ F1 Average yield on investments 0.50% operating / 0.75%debt proceeds 1.82% operating / 2.69%debt proceeds 1.50°% operating and debt proceeds 0.50%° operating and debt proceeds F5 GFOA Certificate of Achievement Awarded Awarded Awarded Awarded F4 GFOA Distinguished Budget Award Proficient Proficient Proficient N/A F5 Accountspayable invoices procexcd 8,100 8,020 7,700 7,800 F5 Accountspayable checks procexcd 4,500 4,406 4,500 4,500 F3 Audit adjustments 0 0 0 0 F5 Payroll hoursprocessed 112,300 98,044 99,800 104,000 F5 Accounts receivable invoices procexcd 210 248 250 250 F7 Agreementsprocessed 275 280 180 180 90 Planning and Programming Mission Statement: Planning and Programming exerts leadership in transportation planning and the programming of funds to improve mobility, foster environmental stewardship, expedite project delivery, and form partnershipswith local, regional, state, and federal agenciesresulting in maximum retumson local investment. Planning and Programming also supportsa coordinated regional approach to solve transportation funding issues. Chart31 —Planning and Programming Projects and Operations 38% Expenditures Transfers Out 13% %laries and �Benefits 18% Professo na l Costs 14% Sapport Costs 17% Planning and Programming expenditures of $8,259,900 decreased 51%from last year's budget (Table 44). Salariesand benefitstotal $1,491,700 and reflect a 33%net decrease due to the one- time disbursement to fund the Commission'sCalPERSretirement net pension liability in the prior year. Asa cost savings measure, the Planning and Programming Director FfEwill remain unfilled and there will be no performance merit -based salary increasesin FY2020/21. Professional services totaling $1,167,500 decreased 25% due to completion of the long-range transportation study. Professional servicesinclude air quality analysis; project database management; local, state, and regional planning activities; on -call goods movement consultants; and legal services. &ipport costsincreased 1%or$9,900 and include variousmembership duesand staff -related travel costs. Projectsand operationscostsdecreased 63%primarily due to engineering and construction work for the Santa Ana River Trail project for the District in the previousyear. Transfersout of $1,061,400 are related to administrative coststo the General fund. 91 Table 44-Planning and Programming Expenditure Detail FY18/19 FY19/20 FY19/20 FY20/21 Dollar Percent Actual Revised Budget Projected Budget Change Change Salariesand Benefits Professional Costs Legal services Audit rvices Rnancial Advisory Professional cervices -General Total Professional Costs aipport Costs Projects and Operations Program Operations Engineering Construction light of Way ecial audies Operating and Capital Disbursements Total Projects and Operations Transfers Out TOTAL Planning and Programming $ 854,800 $ 2,223,300 $ 2,614,600 111,500 73,000 15,000 2,100 1,800 4,800 1,466,300 114,000 15,000 1,800 858,000 118,400 1,556,100 17,500 1,357,000 146,600 356,100 435,900 878,000 4,972,000 (29,900) 205,000 1,217,800 596,000 1,198, 500 1,455,000 988,800 1,179,100 273,200 700,000 75,500 295,000 1,634,500 2,968,900 8,462,100 2,978,200 435,700 3,223,400 1,673,400 $ 4,395,300 $ 16,821,900 $ 9,434,100 $ 1,491,700 79,000 2,000 1,086,500 1,167, 500 1,366,900 352,400 600,000 10,000 130,000 850,000 1,230,000 3,172, 400 1,061,400 5 8.259.900 $ (731,600) -33% 6,000 8% (15,000) -100% 200 11% (379,800) -26% (388,600) -25% 9,900 1% (3,700) -1% (278,000) -32% (4,962,000) -100% (75,000) -37% 254,000 43% (225,000) -15% (5,289,700) -63% (2,162,000) -67% $ (8,562,000) -51% Planning and Programming Staffing Summary Position FY18/19 FY19/20 FY 20/ 21 Capital ProjectsManager 0.14 0.34 Chief Rnancial Officer 0.00 0.00 Deputy Executive Director 0.08 0.10 Executive Director 0.42 0.43 External AffairsDirector 0.04 0.04 Legislative AffairsManager 0.00 0.00 Management Analyst 0.98 0.95 MultimodalServicesDirector 0.33 0.40 Planning and Programming Director 0.96 0.82 Planning and Programming Manager 0.00 0.93 Procurement Manager 0.01 0.07 Project Delivery Director 0.02 0.04 Public AffairsManager 0.02 0.02 Right of Way Manager 0.00 0.01 SeniorAdministrative Assistant 0.20 0.20 Senior Management Analyst 1.02 0.94 Senior Procurement Analyst 0.00 0.05 Toll Program Director 0.08 0.08 Toll Project Manager 0.07 0.00 FIE 4.37 5.42 Department Overview Tranwortation Planning and Programming 0.42 0.12 0.10 0.43 0.28 0.04 0.00 0.40 0.00 0.93 0.13 0.10 0.10 0.02 0.20 2.13 0.00 0.24 0.05 5.69 The Planning and Programming Department isresponsible forshort-and long-range transportation planning and programming. Short-range planning and programming involves the development of the five-year S11P and preparation of the six -year F11P for the County. These programming documents identify projects funded from Measure A, 1UMF, transit operators' SRTPs, state and federally funded projects, locally funded regionally significant projects, and local jurisdiction Capital Improvement Plans(CIPs). 92 The department's planning role involves working with the Federal Highway Administration, FTA, CTC, Caltrans, SCAG, councils of governments, local agencies, and other county transportation commissionsin the region on variousplanning effortsrelative to: • Implementation of the SLAG region'sRTP/SCS • Corridorand goodsmovement plans; and • S11P. Programming specifically involvesthe development, review, and approval of projectsforvarious funding programs, particularly those where the Commission has a responsibility for project nominations. Additionally, programming involvesthe monitoring of projectsfrom project selection through construction close-out. In orderto receive federal fundsand approvals, projectsmust be included in the RIP and FT1P in accordance with project delivery schedules and financial constraint requirements. This also includes regionally significant projects that are state only or locally funded. SLAG, as the MPO, is responsible for incorporating all six -county (Imperial, LosAngeles, Orange, Riverside, San Bernardino, and Ventura) transportation improvement programs into one regional programming document, the RTP/SCS S AG also conducts a conformity analysis with the adopted air plans to ensure compliance with the National Ambient Air Quality Standards, as stipulated by Environmental Protection Agency's Transportation Conformity Rule, and GHG reduction targets adopted by California Air Resources Board. The RTP/SCSisupdated every four years, and the FT1Pupdate effort isperformed every 18to 24 months. Multiple amendmentsoccur within each RIP cycle; RTPamendmentsare less frequent as they require air quality conformity analyses. FTlPamendmentscan occurforminorproject changesthat do not affect the conformity determination. The Planning and Programming Department isresponsible forallocating the following local, state, and federal funding sources: 1989 and 2009 Measure A S3821 for pedestrian and bicycle projects Surface Transportation Block Grant (STBG) 2009 Measure A Western County Regional Arterial (MARA) S11P-RIP CMAQ Western CountylUMFregional arterial program ATPMPO County share Transportation Alternatives Program (TAP)* SB 1 LPP Formula Share Mobile Source Air Pollution Reduction Review Committee (MSRC) *TAP funds a re combined with State/MPO ATP Call for Projects ad m inistered byC1C. The high demand for reporting and monitoring the progress of projects is essential to prevent federal and state funds from lapsing. The Planning and Programming Department assists the Capital Project Development and Delivery Department and local agencies by participating in regular project delivery team meetings and preparing and submitting the request for authorization/allocation of federal and state funding. In addition, staff monitors allocation and award deadlines, expenditures, project closeouts, and inactive projects of federal and state funded projectsto prevent lossof funds. Monthly meetingswith CaltransLocalAssistance are also held to coordinate and address any issues with federal funding obligations and state funding allocations. Partnership development, public and private, iscritical to the Commission'scontinued successin affecting positive transportation decisions to meet future demands. Commission staff works in 93 close coordination with itspartnersto advocate for federal, state, and local funding to improve mobility, mitigate the impactsof goodsmovement, and streamline the programming and project delivery process. Federal Funding CMAQ, S7BG, and TAP/A7P.: the Commission is responsible for allocating CMAQ and STBG funds to transportation projectsin the County. The Commission selectsand approvesCMAQ fundsand STBG funds through a call for projects in addition to programming funds for Measure A and regional priority projects. The Commission delegates the selection of projects for CMAQ funds apportioned to the Salton Sea Air Basin to CVAG. Through 3399and Assembly Bill (AB) 101, the State developed the ATP, which consolidated federal and state funding that traditionally funded bicycle and pedestrian projects, including the federal TAP. The CTC administers the ATP, a program designed to encourage increased use of active modesof transportation such asbiking and walking. The Planning and Programming Department has been involved with the development of the guidelines by participating in workshops and through the Regional Transportation Planning Agencies (RTPA) group to represent the County's best interest for each programming cycle. 5Ta to Funding S71P-RIP.: The Commission workson the development of the S11P in addition to monitoring delivery ofSllPprojectsto ensure the allocation and expenditure of projects by the respective deadlines. Staff is also involved with the development and implementation of current and future SB 1 and ATP cycles, working with the CTC, Caltrans, 9CAG, and RTPAsto ensure projectsin the County are successful in these funding programs. Each county transportation commission throughout the State is responsible for programming RIP funds, which represents75%of the totalSllPfunding available statewide forcapitalenhancement projects. The 75% funding level is then further distributed with 60% of the funds allocated to southern California and 40% to northern California. A population formula is then applied to determine county funding levelscalled "county shares." The Commission isresponsible forensuring that projects funded with STIPfunding are administered and implemented consistent with CTC and Caltranspolicies. It isthe Commission'spolicy to set aside 2%off the top of new programming capacity for staff support to carry out S11P PPM activities. The remaining RIP funds are further distributed geographically among Western County, Coachella Valley, and Palo Verde Valley per the Commission's intra-countySllP formula. The Commission may also considera call for projects for RlPdiscretionary fundswhen sufficient programming capacity isavailable. The Commission is responsible for approving projects for RIP funds in Western County and coordinating with Caltranson the selection of Interregional Improvement Program funds as part of the S11P approved by the CTC every two years. The Commission delegated the authority to nominate projects for RIP funds in the Coachella Valley to CVAG. A MOU between the city of Blythe, representing Palo Verde Valley, and the Commission allowsthe city to trade RIPfundsfor local Measure A salestaxfunds. The CTC administersfederalTAPfundssimilarto S11Pfundsunderthe State'sATPthatwascreated by S399 and AB 101 to encourage increased use of active modesof transportation, such asbiking and walking. Federal TAPfundsare not subject to general fund diversions; however, TAPfundsare authorized each year by the passage of the state budget. SS 1: The State Legislature and Govemor approved SB 1 in April 2017. This transportation tax providesannual revenuesfortransportation purposesstatewide, with a portion coming directly to Riverside County. The CTC is responsible for administering the majority of the SB 1 programs. The 94 Commission receives LPP formula funds over a three-year cycle. the Commission also submits project applications for the S3 1 Solutions for Congested Corridors Program, Trade Corridor Enhancement Program (TCEP), and LPP competitive programs. The FASTAct, signed into law in December2015, established a new formula freight fund underthe National Highway Freight Program fora five-yearperiod. The CTC isresponsible forallocating these funds. In October 2017, the CTC finalized guidelinesfora call forprojectsthatwascombined with funding established forthe TCEPunderS31. S3 821: S3 821, also known as TDA Article 3, projects are funded by 2% of LTF revenues; the expendituresunderthisprogram are included in the LTFspecial revenue fund and reflected in the Public and Specialized Transit Department since the LTFactivitiesrelate primarily to transit funding. The Commission will release its next call for projects in February 2021. Local Funding 2009 Measure A Western County Regional Arterial Program: The Planning and Programming Department manages the 2009 Western County MARA program. The expenditures for these regional arterial capital projects are included in the Capital Project Development and Delivery Department budget. The Commission hasprogrammed MARA fundson projectsbased on a multi - funding callforprojectsorseparate requests. 2009 Measure A Local S`reetsand Roads In order to receive Measure A local streets and roads funding each year, the Commission requiresthe localjurisdictionsto submit a five-yearClPbased on Measure A revenue projections. Additionally, the local jurisdictions are required to submit a Maintenance of Effort (MOE) certification consistent with adopted MOE guidelines and participate in the MSHCPand in the local agency'srespective TUMFprogram, asapplicable. The Planning and Programming Department proceausadministrative amendmentsto ClPsfor minor changesthat do not affect the total programmed amount orare within budget levels. Sgnificant changesrequire Commission approval. Western County 7UMFRegional Arterial Program: WRCOG administersthe Western County TUMF program and collects the fees from participating jurisdictions. WRCOG disburses to the Commission approximately 45.7%of the TUMFfundscollected. The Commission further distributes these funds equally to the Commission's TUMF CETAP corridors and regional arterial programs. In September2004, the Commission established a program and approved the programming of 23 regional arterial projects. The expendituresforthese regional arterial capital projectsare included in the Capital Project Development and Delivery Department budget. Planning and Programming staff monitorslUMFregional arterial projectsbased on the agreements between local agencies and the Commission. In addition, Commission staff works with local agencies regarding amendments to agreements and any issues regarding project delivery. Staff coordinates future programming of additional TUMFregional arterial projectswith WRCOG and local jurisdiction staff. Long Range Planning and Congestion Management The Commission's involvement with long-range planning efforts includes the coordination and input into planning effortsthroughoutthe County, southern California region, and statewide. These efforts involve participation in local, bi-county, and regional corridor plans and studies, including the continued development of the CETAPcorridors. • The Commission commenced its first Countywide Long Range Transportation Study (Lklb) in 2017, which wascompleted in December2019. The Lklbprovidesa vision of Riverside County's future integrated transportation system and servesasa document to advocate for changes to transportation policy, legislation, and funding. It also includesa comprehensive review of 95 projects, including highways, arterials, grade separations, transit, and active transportation improvements. • 1he RIP is a 25-year transportation plan developed by SC AG in conjunction with county transportation commissions, sub -regional agencies, local agencies, transit operators, and otherinterested partieswithin the SLAG six -county region. the SLAG 2020 klPadopted in May 2020, incorporates SCS as required under SB 375. The SCS component establishes goals for projects, programs, and land -use designed to reduce GHG emissions. • Statewide planning efforts involve participation in the development of the California Transportation Plan, freight/goodsmovement, interregional highways, and airquality plans, to name a few. The Commission also serves as the CMA for the County and is responsible for developing and updating the Congestion Management Program (CMP).The CMPwasdeveloped to meet federal Congestion Management System requirementssince state CMPisa voluntary program. The CMP's highways and regional arterials are regularly monitored to ensure that they are operating at acceptable levels (above Level of Service "F'). If a deficiency occursalong the CMPsystem, the Commission will review the cause of congestion and determine the projects and programsthat can alleviate the congestion along with potential funding. Regional Issues- Freight the Commission focuses on facilitating ongoing commitments as well as being responsive to variousemerging regional and statewide issuesrelating to freight/goodsmovement that traverse the southern California region. the Commission is a member of the California Freight Advisory Committee (CFAC). CFAC is a chartered member advisory body representing public and private sector freight stakeholders, including representatives of ports, shippers, carriers, freight -related associations, the freight industry workforce, Caltrans, and RTPAs. CFAC meetsquarterly at variouslocationsacrossthe state to participate in the development of the California Freight Mobility Plan and to advise the State on freight -related priorities, issues, projects, and funding needs. The Commission works with SLAG and partners from the Southern California Consensus Group (Ports of Long Beach and Los Angeles, Alameda Corridor Transportation Authority, Alameda Corridor East Construction Authority, SSCTA, OCTA, Los Angeles County Metropolitan Transportation Authority, Ventura County Transportation Commission, SCAG, and RRA) to identify goods movement priorities in the SLAG region. In 2017, a Companion Study wascompleted forthe 2012 Grade Separation Priority Update Study. The 2012 study wascompleted to update information regarding improving each of the remaining 46 at -grade crossings. The 2017 study identified 11 grade crossingsconsidered ashigh prioritiesfor the local jurisdictionsforthe next 10years. The Commission continuesto work closely with the local jurisdictionsto develop funding strategiesand provide funding assistance to support projectsthat are vital for economic growth and reduction of conflicts between rail and road traffic. In May 2019, the Commission approved the Logistics Mitigation Fee Nexus Study. The study was started in 2017to evaluate a logistics -related regional fee on new warehousing facilitiesasa result of a settlement agreement between the Commission, the County of Riverside, the city of Moreno Valley, and Highland Fairview in response to litigation involving the World Logistics Center. Highland Fairview isthe developer of the World LogisticsCenter, which is planned to encompass more than 40 million square feet of large-scale logisticsoperationsin the eastern portion of Moreno Valley. A result of the study could be a new program that would, for example, set a fee on new distribution centerwarehousesto offset the cost of highway improvementscaused by the growth in trucktripsoriginating orending in the county. The Commission may considerthe implementation of such asprogram in a future year. 96 Department Goals PP1 — Build upon relationships with local, state, and federal agencies to coordinate short- and long-range planning to ensure that transportation projectsreceive funding and approvals. (Policy Goals Quality of Life, Operational Excellence, Responsible Partner) PP2—Continue to seeka strongerrole forcountytransportation commissionsin state and regional transportation and air quality programs in order to direct funding for programs and projectsthat will improve air quality, mobility, and the economy in the County. (Policy Goa& Quality of Life, Connecting the Economy) PP3 — Support local, regional, and state planning efforts in cooperation with SCAG, WRCOG, CVAG, Caltrans, and local agencies including, but not limited to, transportation and air quality modeling updates/upgrades, corridor or focused area studies, development of active transportation plans, or any planning related to the implementation of the RTP/SCSand state and federal planning regulations. (Policy Goa& Quality of Life, Responsible Partner) PP4 — Continue to advocate for jobs/housing balance and attracting high income jobs to the County in addition to addressing intercounty congestion. (Policy Goal: Connecting the Economy) PP5 — Maintain support of the 9CAG regional F11P and Caltrans project databases to allow for efficient monitoring of projectsand funding obligationswith the ability to share project information with loca I jurisdictions. (Policy Goal: Operational Excellence) PP6 — Ensure maximum funding and flexibility for projects funded with S11P-RIP, SB 1, A1P, and federal FASTAct funds. (Policy Goal: Quality of Life) PP7—Provide support to the Commission'sCapital Project Development and Delivery and Finance departmentsto maintain project funding and schedulesand minimize programming issues. (Policy Goals Quality of Life, Operational Excellence) PP8 — Provide assistance to local agencies in the development of Measure A CIPs, program funding guidelines, and grant applicationsforlocal,regional, state, and federalfunding programs, including facilitating allocation and obligation process required for project delivery. (Policy Goa& Quality of Life, Operational Excellence) PP9—Continue to work with state and federal agenciesto streamline processforfunding and project approvals. (Policy Goals Quality of Life, Operational Excellence) PP10 —Asa result of goods movement funding available under the FASTAct, determine where future efforts regarding addressing the County goods movement issues would prove most effective. (Policy Goal: Quality of Life). PP11 —Facilitate public and private investmentsin clean airtechnology in support of the broader air quality programsforSCAG, SCAQMD, and the County'slocal entities. (Policy Goal: Quality of Life) 97 ID Planning and Programming Performance Measuresand Insults FY18/19 Estimated FY18/19 Actual FY19/20 Estimated FY20/21 Projected PP6 PP7 Pp8 PP9 Federal projectsmonitored forobligation authority delivery 9 5 10 5 PP7 TUMFregional arterial projectsmonitored for implementation/expenditures 3 3 3 3 PP7 TUMFagreements/amendments 0 0 5 0 PP7 MARA projectsmonitored for implementation/expenditures 4 4 4 5 PP7 MARA agreementsfamendments 0 0 5 0 PP1 PP5 RTP/FllPamended projects 2021 RIP 130 N/A 147 N/A 197 389 140 N/A PP1 PP6 S11P/TCIF/S3 1/ATP programming, allocations, amendments, and extensionsfor Commission projects/local agency projects 30 30 30 30 PP2 SB821 projectsawarded and monitored for extensionsand reimbursements 23 20 28 28 PP8 Measure A local streetsand roadsClP projects 240 333 275 240 PP8 Review/processing of Measure A CIP project amendmentsand extension requests 8 8 10 10 PP11 MSRC projects 1 1 1 1 PP3 2020 RTP/SCSUpdate projects reviewed 747 747 50 N/A 98 Rail Mission Statement: Rail develops and supports parrrnger rail transportation options for increased mobility within Riverside County and the region. Chart 32 — Rail TransfersOut 3% Capital Outlay 1% Projects a nd Operations 85% Expenditures Salaries and Benefits 1% Professional Costs 3% Sapport Costs 7% Rail expenditures of $56,083,200 include Metrolink operations and capital support as well as maintenance and operations of the nine Commission -owned and operated commuter rail stations(Table 45). Salariesand benefitsreflect a 43%decrease due to the one-time disbursement to fund the Commission'sCalPERSretirement net pension liability in the prioryear. Asa cost savings measure, there will be no performance merit -based salary increases in FY 2020/21. Professional costs, which include legal and consultant services, decreased 84%due to refocusing department planning efforts. Support costs include station maintenance, media ads, printing services, and marketing incentives. Projectsand operationsexpendituresof $47,459,400 increased 56%. Program operationscomprise rail state of good repair and a $34,200,000 operating contribution for9CRRA Metrolink operations including the PVL service. the Commission's commuter rail program intends to utilize existing mechanismswithin Metrolinkto asscssand monitoroperationsand budget performance. Program operations relate primarily to station operations. the "next generation" rail feasibility study is included in special studies. Construction increased 510% related to the Indio special eventstrain platform for the Coachella Valley —San Gorgonio PassCorridorrail service. Capital outlay reflects a 231%increase and isdue to a seriesof station -related improvement projectsand an increase in SCRRA Metrolink capital needs. Transfers out of $1,754,800 relate to administrative costs to the General fund. 99 Table 45-bail Expenditure Detail FY18/19 FY19/20 FY19/20 FY20/21 Dollar Percent Actual Revised Budget Projected Budget Change Change Salariesand Benefits $ 547,700 $ 1,238,000 $ 1,284,900 Professional Costs Legal Burvices 56,500 225,000 195,000 Professional rvices-General 1,983,000 9,910,900 1,148,500 Total Professional Costs 2,039,500 10,135,900 1,343,500 aipport Costs 2,403,000 3,330,000 3,152,200 Projects and Operations Program Operations 2,624,900 2,964,600 2,889,000 Engineering 600,000 400,000 Construction 1,470,000 250,000 $iecial audies 82,400 400,000 400,000 Operating and Capital Disbursements 19,793,500 25,000,000 29,147,100 Total Projects a nd Operations 22,500,800 30,434,600 33,086,100 Capital Outlay 72,900 164,000 179,800 Transfers Out 562,900 980,000 980,000 TOTAL Rail Maintenance and Operations $ 28,126,800 $ 46,282,500 $ 40,026,500 Rail Staffing Summary $ 704,800 215,000 1,418,100 1,633,100 3,987,600 3,187, 600 550,000 8,971,800 400,000 34,350,000 47,459,400 543,500 1,754,800 $ 56.083.200 $ (533,200) -43% (10,000) 4% (8,492,800) -86% (8,502,800) -84% 657,600 20% 223,000 8% (50,000) -8% 7,501,800 510% 0% 9,350,000 37% 17,024,800 56% 379,500 231% 774,800 79% $ 9,800,700 21% Position FY18/19 FY19/20 FY20/ 21 Capital Projects Manager 0.01 0.01 Chief Rnancial Officer 0.01 0.00 Deputy Executive Director 0.01 0.03 External AffairsDirector 0.00 0.00 FacilitiesAdministrator 0.89 0.79 Legislative Affairs Manager 0.00 0.00 Management Analyst 0.00 1.00 Multimodal5eryices Director 0.27 0.30 Procurement Manager 0.06 0.11 Project Delivery Director 0.04 0.00 Public AffairsManager 0.05 0.05 Rail Manager 1.00 1.00 5eniorAdministrative Assistant 0.02 0.06 Senior Management Analyst 0.09 0.10 senior Procurement Analyst 0.13 0.16 FIE 2.58 3.61 Department Overview -Rail Operations 0.01 0.01 0.00 0.01 0.70 0.02 0.75 0.30 0.16 0.03 0.05 1.00 0.02 0.10 0.23 3.39 The Rail Department directseffortsin the areasof regional commuter rail, intercity pa'frngerrail, high speed rail, and capital improvementsto support enhanced paryrngerand freight railservice. The entire program includes elements of planning, programming, commuter and intercity rail development and support, station and corridor management, mitigation of community and environmental impacts, legislative and regulatory advocacy, and construction of capital projects. OtherCommission departments, legal counsel, and consultantsmanage orsupport many of these elements. Departmental effortscontributing to the rail program are found throughout the budget document. Coordination and consultation also occur with a variety of public and private entities including the California State Transportation Agency (CaISTA), CTC, Caltrans, California Public Utilities Commission, California High Speed Rail Authority (CHSRA), FRA, FTA, Amtrak, environmental 100 agencies, University of California Riverside (UCR), transit providers, SCAG, WRCOG, CVAG, San Diego Association of Governments, LosAngeles-San Diego -San LuisObispo (LOSS4N)joint powers authority, local governments, private freight railroads, businers, and property owners. the Commission participatesin the ongoing funding and governance of Metrolink through RRA, a joint powers authority consisting of the county transportation commissions of Riverside, San Bernardino, Orange, Los Angeles, and Ventura counties. the Commission holds two voting positions on SCRRA's eleven -member board. the role of chair rotates between the member agencies every two years. Commission staff serves on the five -county Member Agency Advisory Committee (MAAC) that negotiates service and funding levels, based upon each county's established priorities. the MAAC provides technical assistance, coordination between various SCRRA and member agency departments, and linkagesto local communities. Of the seven commuter rail lines operated by Metrolink, three routes consisting of the Riverside, Inland Empire -Orange County (IEOC), and 91/PVLdirectly serve Western County. Unlike the other SCRRA member agencies, the Commission ownsand operatesthe commuter rail stations serving the County: Riverside Downtown, Jurupa Valley — Pedley, Riverside — La Serra, Corona — West, Corona — North Main, Riverside — Hunter Park/ UCR, Moreno Valley — March Field, Perris — Downtown, and Perris — South (Chart 33). the Riverside Downtown Operations Control Center (RDOCC), located at the west end of the Riverside Downtown station, provides monitoring of closed circuit televisions(CC1V) at the stations as well as facilities for train crews. Layover track facilities are located at the Riverside Downtown and Perris — South stations; however, SCRRA maintainsthe layover facilities. Station operation and maintenance costsare included in the Rail Department budget with servicescurrently coordinated by the Capital ProjectsDevelopment and Delivery Department through the FacilitiesAdministrator. New and ongoing construction projects at these stationsare described in the Capital Project Development and Delivery Department. Chart 33 — Riverside County Metrolink Station Locations Riverside County Metrolink Service Eastvale Corona • west ® Station l Jurupa Valley Norco Jurupa Valley • Pedley Station Riverside iverside = Downtown Station Riverside - Hunter Park/ UCR Station Riverside- Moreno Valley/ La Sierra Station March Field Corona • North Station Station 'sCorona O Gp Lake 92 d, Matthews c� °F Perris • Downtown o oI Station A RCTC Stations N E+E Metrolink Line RIVERSIDE CO. �rrrrrrr�comiu/ Moreno Valley Perris. Perris • South in Station Canyon if Lake Menifee 101 A general description of each of the Commission -owned rail station facilitiesispresented in Chart 34. Chart 34 — Commission -Owned Rail Station Facilities Location to Service Date Size honsitServrces Primary Features '� �` , �1..*—s P " °' RIVERSIDE - DOWNTOWN Riverside Downtown (P244001) 4066 V ine Street, Riverside June 1993 26.5 Rail: 91/PVL 2 platforms with 4 boarding tracks acres IEDC l ne 4 parking lots (1,240 Spaces) Riverside L ne Enclosed pedestrian bridge, elevators, stairwells Amtrak Bus: RTA OmniTrans SunUne Amtrak Mega Bus 04.1.11 —1 Jurupa Valley-Pedley (P244002) 6001 Pedley Road, Jurupa Valley June 1993 4.5 Rail: Riverside Line Platform with boarding track 1 acres Bus: RTA Parking lot [288spaces) PEDLEY Au- Riverside-taSierra [P244003} ` O 10901Indiana Avenue, Riverside 24.69 Rail: 91/PVL Platform with 2 boarding tracks October 1995 acres IEDC Une Parking lot (1,065spaces) 6 Bus: RTA Enclosed pedestrian bridge, elevators, stairwells f" G RIVERSIDE - LA SIERRA Corona -West (P244004) - 155South Auto Center Drive, Corona 5.49 Rail: 91/PVL Platform with 2 boarding tracks m.s October 1995 acres IEDC Line Parking lot [564spaces] Bus: RTA Enclosed pedestrian bridge, elevators, stairwells CORONA - WEST Corona -North Main (P244306) ...in = 250 East Blaine Street, Corona November 6.72 Rail: 91/PVL Platform with 2 boarding tracks imirz, G 2002 acres IEOCLine Parking lot (579 spaces) �; �� Bus: RTA Parking structure (1,000spaces) ;� bridge, CORINA-Corona Cruiser Enclosed pedestrian elevators, stairwells IOITI MAIM Perris -Downtown (P244010j Ne i•J 121South C street, Perris June 2016 5.5 Rail: 91/PVL Platform with boarding track (busten Sit acres Bus: RTA Parking lot (444spaces) ` center MM.. opened 2010) / = olizti; �1 PARK UCH Riverside -Hunter Park/UCR (R244020) 1101 Marlborough Avenue, Riverside June 2016 9.35 Rail: 91/PVL Platform with boarding track acres Bus: RTA Parking lot (528 spaces) , Morena Valley/Mardi Field (P244021) t- 141E0Meridian Parkway, Riverside June 2016 14.47 Rail: 91/PVL Platform with boarding track gr :,_� ' acres Bus: RTA Parking lot [476spaces] Amtrak Stairwell MOREMO VALLEY, MARCH FIFLO -• 4.10., y.101 1 PERRIS - SOOTH Perris -South (P244022) 1304 Case Road, Perris June 2016 40.57 Rail: 91/PVL Platform with boarding track acres Bus: RTA Parking lot (907 spaces) Amtrak (P24) RDOCC ,e Street, 4344Vine Street, Riverside April 2016 3,000 N/A CCTV operations center square Offices and meeting rooms feet 102 Station maintenance includes property management, utilities, grounds maintenance, repairs, cleaning, and security servicesat the Commission -owned rail stations, including the RDOCC. Asa result of the new PVL service and increased stations, LiF allocations are generally used for Metrolink operating contributions and 2009 Measure A Western County rail funds are used for station maintenance. Table 46 summarizesthe rail station maintenance costs. Table 46 - Rail Station Maintenance Summary FY 18/ 19 FY 19/ 20 FY 19/ 20 FY 20/ 21 Actual Budget Projected Budget Equipment $ 382,515 $ 550,600 $ 591,700 maintenance and repairs Grounds maintenance 894,160 1,163,500 1,124,300 and repairs Utilitiesand support 396,546 483,500 501,300 Property management 1,017,024 1,268,600 1,099,800 and operations Security 2,299,710 2,394,200 2,420,000 Improvements 72,868 182,500 179,800 $ 759,300 1,555,200 563,300 1,122,000 2,812,700 543,500 Total expenditures $ 5,062,823 $ 6,042,900 $ 5,916,900 $ 7,356,000 In addition to Metrolink, the Commission participates in the governance of LOSSAN, a 351-mile network through a six -county coastal region in southern California that is the second busiest intercity passenger rail corridor in the United Sates (Chart 35). Chart 35—Southem Califomia Passenger Rail System Map PA Passenger Rail Stc ion • Amhok Pacific Sud1iner © Mehoiiok CO COASTER © SPRINTER Il ighl Roil) Passenger Roil Service - Amhok Pacific Surfliner Mehalink Venkura County Line - Mefralink Anfalope Volley Line - McrroLink Son Ranardina line - Mehnlink Riverside Line - Mntrallnk91 Line •� Mof clink Orange County Line MerroEnk Inland Empire Orange County Line - COASTER - SPRINTER (Light Roil) 0 � 0 M Mo 0 0 4. "▪ no I—ORS 1 f`R METRO LINK. LonoirColilnem cool onoI nkIT mg. a. Southern California Passenger Rail SYSTEM MAP ■ 1' g° M ,, M o per. '" �xo„pp:ate ,�f.yd� Ow .PANGS RIVERSIDE • ,d M _'.XJMTY COUNTY • v Mai „oc N � 0 5 10 15 20 30 40 Miles SAN DIED COuN1Y dA� 4.40 103 LOSSAN is a joint powers authority originally formed in 1989 to increase ridership, revenue, capacity, reliability, coordination, and safety on the coastal rail line between San Diego, Los Angeles, and San Luis Obispo. the Commission is the newest voting member of the 11-member Board of Directorscomposed of elected officialsrepresenting rail owners, operators, and planning agenciesalong the rail corridor. In recent years, LOSSAN hasgained more local control over the management and coordination of the southern California rail services. lhe Commission isinvolved to promote travel optionsand connectionsfor County residentsand to be engaged in decisions impacting the rail track rightsthe Commission purchased for commuter rail service. Commission staff also participates in the Technical Advisory Committee that provides technical assistance, service planning, and coordination between variousagenciesto improve customerservice. Department Goals —Rail Operations RO1 —Improve utilization and increase efficiency of commuter rail linesserving the County. (Policy Goals Quality of Life, Responsible Partner) RO2 —Maximize opportunitiesforpublic use of rail -related investment. (Policy Goals Quality of Life, Responsible Partner) RO3—Implement energy efficient systemsand generate revenue to offset maintenance costsof rail properties. (Policy Goals Quality of Life, Operational Excellence) Department Overview — Rail Development In order to expand passenger rail options throughout the County, the Commission conducts feasibility and planning studiesto aeccssthe viability of commuter rail expansion. the Commission engaged a consultant to perform a "next generation" rail feasibility study based on findingsfrom the RCTC Strategic Assessment completed in January 2016. lhe study continues to develop and provide meaningful ridership and cost data that will help make future decisions on how to proceed with rail transit expansions in the County. Significant planning efforts are also underway to explore intercity passenger rail service to the Coachella Valley -San Gorgonio Passcorridor. San Jacinto Branch Line (SIRE) lhe Commission holds title to and manages the 38-mile SJBL (Chart 36) and several adjacent properties, preserved for future pasocnger rail service. BNSF Railway (BN) holdsthe freight rights in the corridor, providing service to local shippers, and performsmaintenance on the line. 104 Chart 36—San Jacinto Branch Line San Jacinto Branch Line Lake Matthews E++++ San Jacinto Branch Line Perris Valley Line Service Area Canyon Menifee Lake Banning Beaus Perris Valley Line Project the Commission substantially completed the PVLin September2016, and operationscommenced in June 2016. 1he construction projectwasa 24-mile extension of the 512-mile Metrolink commuter rail system. It extended the existing Metrolink 91 Line, which provides service between Riverside and Downtown LosAngelesvia Fullerton. here are timed connectionsto the other routesout of the Riverside Downtown station. -the project included the construction of four paeccnger stations at Riverside —Hunter Park/UCR, Moreno Valley/March Field, Perris —Downtown, and Perris —South; construction of a park -and -ride lot at each of the four new stations, totaling approximately 2,250 parking spaces; and a layoverfacility at Perris —South forvehicle storage and servicing. the hours of operation are from 4:30 a.m. to 8:00 p.m. on weekdays; the FY 2020/21 Metrolink operating contributions include funding to initiate expanded weekday service and weekend service. 105 Coachella Valley —San Gorgonio Pass Corridor Rail Service In recent years the Commission also focused attention on the creation of intercity pasngerrail service between the Coachella Valley, the Pass Area, Riverside, and the Los Angelesbasin through advocacy effortswith state, federal, and local government entities and negotiation with the freight railroads. The Commission ensured the corridor was prominently featured in the updated 2013 California State Rail Plan. In May 2013, the Caltrans Division of Rail completed the first phase of a planning study and initial alternativesanalysisforthe rail corridor. This planning study was very supportive of the potential for a viable service, and future studies can expand on this by determining ridership demand and better cost estimates. Caltrans also included an updated project description and analysis of the Coachella Valley -San Gorgonio Pass corridor rail service in the latest state rail plan, approved by CaISTA on September 5, 2013. The 2018 California State Rail Plan update includes the Coachella Valley -San Gorgonio Pass corridor rail service asan integral part of future growth. COACHELLA VALLEY— SAN GORGONIO PASS CORRIDOR RAIL SERVICE Since its inclusion of the project into the State Rail Plan, the Commission has led the planning elements required of the project in order to secure additional funding and project approvals at variousstate and federal levels. The Commission established a MOUwith CVAG foritscooperation in the planning as well as funding through a new IDA bus/rail split for the Coachella Valley. This agreement also included the application of Proposition 1Bfundstoward the initial Phase I analysis that included public outreach, development of the project Purpose and Need Statement, and development of the Preliminary AlternativesAnalysisReport. As part of thiseffort, the Commission secured a letter of agreement with Caltrans for its cooperation and modeling support. lhe Commission completed the Phase I planning efforts, including the AlternativesAnalysis, and the FRA approved the Phase I work. In the July 2010 Federal Register notice on High -Speed Intercity Passenger Rail (HSIPR) program, it clearly outlinesthe planning process needed to be eligible forHSlPRfunds. This process identifies the need fora Service Development Plan (SDP) with the following requirements: • Clearly demonstrate the purpose and need; • Analyze alternativesforthe proposed paovongerrail service; • Identify the alternative that best meetsthe purpose and need; • Identify the discrete capital projectsrequired; and • Demonstrate the operational and financial feasibility. To continue the development of this project, the Commission partnered with Caltrans and successfully applied forand wasawarded a $2,900,000 FRA grant to complete the corridorstudy's SDP. lhiswasthe only rail corridorin the country awarded these planning grant funds. Staffworked through the multiple agreements needed in order to utilize thisfunding in coordination with the FRA and Caltrans. In order to expedite project development, a highly qualified consultant is preparing the SDPand lead the environmental processneeded forthe NEPA documentation. This project is ongoing and incorporated in the FY 2020/21 budget. lhe Commission prepares an annual SRTPforthe Coachella Valley -San Gorgonio Passcorridor rail service project. Asthe result of the many studies performed to date by both CVAG and the Commission, it was determined that using state -supported intercity trainspresentsthe best alternative fordeveloping 106 service along the corridor. The 141-mile trip between LosAngelesand the Coachella Valley would crossfourcounties(Chart 37). Stops and station locations are yet to be determined. Due to the trip length and time of approximately three hours, Amtrak -style service with largerseatsand food service would be more appealing to the riders. In addition, the service would operate over Union Pacific and BNSFtracks, and, in general, Amtrak hasa greaterabilityto initiate service overfreight railroads based on a national agreement. The initial service plan anticipatestwo daily round trips along the corridor. The approved Alternative Analysisrecommended a preferred alignment. Chart37-Coachella Valley -San Gorgonio Pass Corridor Rail Service -Proposed Altemative Los Angoras Union Station High *Wed Rail Loma Linda Riverside :1i1 r2.�;!yi,i 4 V::,. Cabazon Palm Springs S1:]Lil=-:.I.1 rsc Ilimaidr.� l l! i� Y Rancho Mirage_ India LEGEND Alternative' - Potential Station) The Commission continuesto playa proactive role in the development ofa statewide, high speed pa9irngerrail system, including routing of the backbone corridor through the Inland Empire with possible stations in the Riverside/Corona and Murrieta/Temecula areas. With the passage of Proposition 1A in November2008, there isa proposed funding mechanism to move the state high speed rail project forward. The CHSRA began work on a project level environmental asccssment and corridor alignment study for the section between LosAngelesand San Diego via the Inland Empire. The Commission directed the review to include an alignment alternative along 1-15 for analysis. The Commission entered into a MOU to be supportive in the development of this high speed rail project and participatesin the Southern California Inland Corridor Group meetings. The Commission actively contributed to the development of the supplemental Alternatives Analysis efforts. Workon thiseffort hasslowed down with the release of the latest businessplan that extends the development of this Phase 11 section from LosAngelesto San Diego via the Inland Empire to beyond 2030. The Commission signed a MOU along with the other southern California transportation entitiesand SC AG to commit $1 billion in unallocated Proposition 1A fundsforearly investment to be spent locally for rail transportation improvement projects. With recent developmentsrelated to the aate'shigh speed rail project, staff will continue to monitorprogress and Iookforopportunitiesto benefit the regional rail network. Department Goals -Rail Development RD1 -Identify and plan for capital improvements necessary to increase the scope, appeal, and reliability of commuter rail operations. (Policy Goals Quality of Life, Operational Excellence, Responsible Partner) RD2 -Maintain effortswith local agencies, other southem California counties, and the state and federal governmentsto expand intercity patscngerrailservice into the County and the Coachella Valley. (Policy Goals Quality of Life, Responsble Partner) 107 RD3 —Continue to monitor the state efforts in the creation of a high speed passenger rail system along an Inland Empire alignment through coordination with state and local agencies. In addition, continue to identify and advocate for high speed rail funding to be spent on beneficial local rail projects in the County. (Policy Goals Quality of Life, Responsible Partner) ID Rail Performance Measures and Results FY18/19 Estimated FY18/19 Actual FY19/20 Estimated FY20/21 Projected RO1 RD1 Average weekday daily ridership on existing commuterlines • Riverside Line • IEOC Line • 91/PVL 3,721 4,624 3,330 3,868 4,656 3,293 3,962 4,784 3,256 N/A N/A N/A RO1 Farebox recovery ratio • Riverside Line • IEOC Line • 91/PVL 43.0% 31.9% 27.7% 42.1% 31.9% 27.7% 43.7% 31.6% 26.5% N/A N/A N/A 108 Public and Specialized Transit Mission Statement: Public and Specialized Transit coordinates the operation of all public transit services within the County. the Commission provides financial oversight and compliance monitoring, as well as evaluates program efficiency and effectiveness between transit operators in achieving regional goals to reduce congestion, improve air quality and mobility options for all users. Public and Specialized Transit also maintainsand improves, asresourcesallow, mobility optionsto meet travel needs of seniors, personswith disabilities, and persons of limited meansto enhance quality of life through innovative solutionsand better coordination of existing services. Chart38—Public and Specialized Transit Transfers Out_ 16% Expenditures Professional Costs 1% Projects a nd Operations 83% Public and specialized transit uses are budgeted at $120,106,200 for FY2020/21, as presented in Table 47, and consist primarily of capital projects and operationscostsaswell astransfersout to Commission fundsforadministration, planning, and rail purposes. The 44%decrease in salariesand benefits reflects the one-time disbursement to fund the Commission's CaIPERS retirement net pension liability in the prior year. Asa cost savings measure, there will be no performance merit - based salary increasesin FY2020/21. Overall, operating and capital disbursements decreased 39% as a result of federal CARES Act funding available to transit operatorsin FY2020/21 forCOVID-19 impacts. L1Fdisbursementsconsist of transit operating and capital allocationsto public transit operatorsof $44,300,000; bicycle and pedestrian facilitiesallocationsto citiesand the County of $900,000; and planning and administration allocationsto otheragenciesof $627,000. STA/SGRdisbursementsof $40,935,300 are primarily for buscapital purposesin Western County, Coachella Valley, and Palo Verde Valley. The STA and Rtransit allocations reflect the use of $11,095,400, and $3,317,000 in fund balances, respectively. 109 Measure A disbursements include $2,900,000forWestern County specialized transit funding of the second year of the 2018 Call for Project& the majority of other Measure A disbursements relates to other Measure A public transit programs: • $949,600forWestern County Consolidated Transportation Service Agency allocations; • $2,424,900 for Western County intercity bus services; and • $5,955,900 for Coachella Valley public and specialized transit. the Commission disbursMeasure A public transit allocationsmonthly to Riverside Transit Agency (RTA) and S.1nLine, the major transit providers in the Western County and Coachella Valley, respectively. LIF, STA, and SGRtransfersout comprise: • $9,000,000 for rail operations; • $2,000,000forgrade separations; • $5,311,300 for planning; • $345,900 for ad ministration; • $1,918,000 for station rehabilitation and improvement project; and • $422,000 for Coachella Valley rail operationsand capital. Transfersout of $776,900 relate to administrative coststo the General fund. Table 47 -Public and Specialized Transit Expenditure Detail FY18/19 FY19/20 FY19/20 FY20/21 Dollar Percent Actual Revised Budget Projected Budget Change Change Sala riesand Benefits $ 481,000 $ 895,900 $ 784,000 $ 497,900 $ (398,000) -44% Professional Costs Legal Burvices 5,500 12,000 3,500 15,000 3,000 25% Audit Burvices 49,700 70,000 70,000 - (70,000) -100% Rnancial Advisory 15,400 16,000 16,100 17,000 1,000 6% Professional cervices -General 64,500 201,700 161,600 529,900 328,200 163% Total Professional Costs 135,100 299,700 251,200 561,900 262,200 87% S p p o rt Costs 50,500 69,200 52,800 79,600 10,400 15% Projects and Operations Special 2udies 250,000 200,000 (50,000) -20% Operating and Capital Disbursements 118,936,200 161,610,400 141,920,900 98,992,700 (62,617,700) -39% Total Projects and Operations 118,936,200 161,860,400 141,920,900 99,192,700 (62,667,700) -39% Transfers Out 28,088,600 31,998,400 31,874,500 19,774,100 (12,224,300) -38% 1OTALPublic and Specialized Transit $ 147,691,400 $ 195,123,600 $ 174,883,400 $ 120,106,200 $ (75,017,400) -38% Public and Specialized Transit Staffing Summary Position FY18/19 FY19/20 FY 20/ 21 Accountant 0.06 0.06 Chief Rnancial Officer 0.11 0.15 Deputy Director of Rnance 0.00 0.01 Deputy Executive Director 0.06 0.06 External Affa irs Dire c to r 0.00 0.01 Management Analyst 1.00 1.00 MultimodalSeryices Director 0.40 0.30 SeniorAdministrative Assistant 0.05 0.04 Senior Management Analyst 0.01 0.02 Senior Procurement Analyst 0.06 0.12 Transit Manager 1.00 1.00 FIE 2.75 2.77 0.01 0.03 0.00 0.05 0.01 0.25 0.30 0.04 1.01 0.00 1.00 2.70 110 Department Overview The Commission haspublic transit operatoroversight and fiduciary responsibilitiesand ensuresthat annual fiscal auditsand a state triennial performance audit are conducted in accordance with TDA regulations. lhe Commission also reviews public transit operatoractivitieson an annual basis and recommendspotential productivity improvementsto make servicesmore cost effective and efficient. In addition, the Commission ensuresthat specialized transit allocationsare expended in accordance with funding agreementsand engagesaudit firmsto perform certain agreed -upon proceduresforthe Measure A specialized transit funding recipients. The Commission also develops and engages the Citizens and Specialized Transit Advisory Committee (CSTAC) as an advisory body that more effectively distributes and promotes public and specialized transit information to va rioussta ke hold ers. Public Transit The Public and Specialized Transit Department is responsible for approving SRTPs and programming federal, state, and local funds within the County for eight public transit operators consisting of: • The citiesof Banning, Beaumont, Corona, and Riverside; • Commission'sCommuterRail and CommuterAssistance Vanpool Programs; • Palo Verde Valley Transit Authority; • RTA; and • SunLine. The Public and Specialized Transit Department coordinatesthe annual development, review, and approval of the operator SRTPs as well as allocates transit funding resources to public transit programs. lhe Commission oversees and allocates the following funding resources: Measure A, LTF, STA, SGR, FTA, and LCTOP funds for public transit. Commission staff works closely with each transit operator to ensure that funds are properly programmed and included in the SRTP for inclusion into the F11P and/or other major planning documents as necessary for allocation or obligation of funds. With the passage of SB 1, STA revenueswere stabilized and SGRwascreated to provide support for operating and capital rehabilitation projects. The Public and Specialized Transit Department coordinateswith transit operatorsforthe preparation and submission of transit projectsto Caltrans foraward of LCTOPfundsunderthe California AirResourcesBoard'sCap and Trade Program. The LCTOP program provides funding for operating and capital transit projects that reduce greenhouse gas emissions and improve mobility with a priority of serving disadvantaged communities. The State Controller's Office annually appropriates the LCTOP funds. Riverside County'sshare hassupported projectssuch asstation upgradesat the Commission'sPVLstations to encourage active transportation and energy efficiency; free transit ride campaigns; and expansion of SunLine'sHydrogen fueling operations. Funds may also be used to increase service frequency on selected rail and bus lines that operate in disadvantaged communities. lhe County'sshare of the annual allocationshasfluctuated based on state appropriations. Specialized Transit The 2009 Measure A Western County specialized transit program providesa valuable service to the community by serving the needs of residents, mainly seniors and persons with disabilities, whose transportation needs are not met by traditional services. Social service and nonprofit agenciestypically ad ministerspecialized transit operations. The Commission awards2009 Measure A Western County funds for specialized transit through a competitive call for projects. The 2018 111 Call for Projects provided funding for 18 operators over a three-year term through June 30, 2021. the New Call for Projectswill begin in the summer of 2020 and be awarded in the Spring of 2021. Department Goals PST1 —Provide timely information to the public regarding Commission -implemented transit projects and support public relations activities of Measure A -funded transit programs by grant recipients. (Policy Goa& Operating Excellence, Responsible Partner) PST2 — Allocate Measure A specialized transit and federal funds to support services that will maintain and/or enhance mobility by alleviating transportation barriers for seniors, persons with disabilities, and the truly needy. (Policy Goal& Quality of Life, Operational Excellence, Responsible Partner) PST3—Coordinate the operation of all public transportation serviceswithin the County with a goal toward promoting program efficiency and harmony between transit operatorsasoutlined in state law. (Policy Goal& Quality of Life, Operational Excellence, Connecting the Economy, Responsible Partner) PST4—Continue to provide staff resourcesto assist and support the coordination of transit services within the County and throughout the State. (Policy Goa& Quality of Life, Operational Excellence, Connecting the Economy, Responsible Partner) ID Public and Specialized Transit Performance Measures and Results FY18/19 Estimated FY18/19 Actual FY19/20 Estimated FY20/21 Projected PS13 SRlPssubmitted by operators and reviewed 9 9 9 10 PST3 SRTPamendments 3 4 6 6 PST2 Specialized Transit grantsawarded/monitored 18 18 18 12 PST2 Specialized Transit site visits 18 9 9 12 PST1 Specialized Transit brochuresdistributed 3,500 3,500 3,500 3,500 PST3 Transit operatorquarterly coordination meetings 16 16 16 32 PST4 Social service/partnering agencies monitored in database 412 416 430 450 PST4 Workshopsand meetingsattended with regional partners(i.e. Board meetings, CSTAC, SLAG working groups, workshops) 35 25 25 40 112 Commuter Assista nce Mission Statement: Commuter Assistance helps constituents discover their best commute through meaningful employerand community engagement, rideshare incentives, and advancing technology in order to reduce drive alone trips, regional congestion and vehicle emissions. Chart 39—CommuterAssistance Projects a nd Operations 72% Expenditures Transfers SaIariesand Out Benefits 5%, 5% Pro fe ssio n a l Costs 14% alp port Costs 4% Commuter Assistance expenditures total $5,199,600, which represents a 4% increase from last year's budget (Table 48) due to eastern county Commuter Assistance expansion. Salaries and benefits of $267,400 reflect a 51% decrease due to the one-time disbursement to fund the Commission'sCalPERSretirement net pension liability in the prior year. Asa cost savingsmeasure, there will be no performance merit -based salary increases in FY 2020/21. Professional costs of $747,700 increased 38% over the prior year due to vanpool operations and match for Next Generation 1DM Study. Support costs of $179,700, which include mail and printing services, communications, and other office expenditures, decreased 37% due to reduced media and consolidation of IECommuterand VanClub outreach efforts. Projectsand operationsexpendituresof $3,742,000 consist of: • Regional transportation consultantservicestotaling $2,552,000to manage and implement the program; • Vanpool subsidiesand commuterincentivesvalued at $1,015,000; and • Park and ride lease paymentsof $175,000. Reimbursements from S3CTA for rideshare services provided by the Commission are included in local revenues to offset a portion of these expenditures. Transfers out include $262,800 for administrative costs. 113 Table 48- Commuter Assistance Uses Detail FY18/19 FY19/20 FY19/20 FY20/21 DoIlar Percent Actual Revised Budget Projected Budget Change Change ai la ries and Benefits $ 247,600 $ 545,100 $ 776,100 $ 267,400 $ (277,700) -51% ProfessionaI Costs Legal Services 13,700 31,000 14,600 32,000 1,000 3% Audit Services 10,000 20,000 20,000 N/A Rnancial Advisory 7,700 8,000 8,100 8,000 - 0% Professional rvices- General 257,300 503,700 658,200 687,700 184,000 37% Total Professional Costs 288,700 542,700 680,900 747,700 205,000 38% 3ipport Costs 85,000 285,800 18,400 179,700 (106,100) -37% Projects and Operations Program Operations 2,748,900 3,313,300 2,501,300 3,742,000 428,700 13% Total Projects and Operations 2,748,900 3,313,300 2,501,300 3,742,000 428,700 13% Transfers Out 1,368,300 302,500 302,500 262,800 (39,700) -13% TOTAL Com muter Assstance $ 4,738,500 $ 4,989,400 $ 4,279,200 $ 5,199,600 $ 210,200 4% CommuterAssistance Staffing Summary Position FY18/19 FY19/20 FY 20/ 21 Commuter and Motorist Assistance Manager 0.66 0.65 Deputy Executive Director 0.01 0.01 External AffairsDirector 0.06 0.10 Management Analyst 0.55 0.55 Procurement Manager 0.00 0.04 Public AffairsManager 0.00 0.01 SeniorAdministrative Assistant 0.09 0.00 senior M anagement Analyst 0.01 0.05 FIE 1.38 1.41 Department Overview 0.87 0.01 0.01 0.00 0.05 0.01 0.08 0.35 1.38 While much of the Commission'sworkfocuseson enhancing transportation infrastructure, there is significant value in ensuring that the transportation systems are used efficiently. To fostera more efficient use of infrastructure investments and transit networks, the Commission's Commuter Assistance Program seeksto increase the awarenessof and consideration for alternative modes of transportation such as riding a bus or train, carpooling, vanpooling, walking, bicycling, or teleworking. This transportation demand management strategy, implemented under the "IE Commuter" umbrella in partnership with SBCTA, providesservicesand incentivesto western Riverside and San Bernardino county employers and commuters in an effort to shift behavior away from single - occupant vehicle commuting via the following methods: • Leverage regional campaigns, local outreach, employer health fairand rideshare events, and social media to increase the awarenessfortransportation alternatives; • Partnerwith and serve asa resource to employersto implement TDM programs, services, and incentivesto increase consideration and adoption of transportation alternatives at worksites throughout the region; • Provide both online access (IECommuter.org) and personal support (866-RIDES-IARE) to custom commute information and ridematching services; • Incentivize commutersforbeginning and/or maintaining an altemative commute mode; • Leverage technology to deliver easy -to -use online resourcesand toolsto efficiently engage, educate and serve employer partners, their employees, and other commuters; and • Continue to position IE Commuter as the trusted resource for commuter and employer transportation solutionsin the region. 114 lhe Commission implemented the CommuterAssistance Program in Western County asa specific requirement under Measure A to addresscongestion mitigation. In addition to improving mobility overall, thislDM strategy helpsto improve the quality of life on the commuterfront, helpsto lower costs and increase productivity on the employer front, and has a positive impact on the environment. lhe next couple of years will mark a transitionary period for the Commuter Assistance Program. the Commission will focuson positioning the program for the future and being more visible, more regional, and more innovative to enhance the experience and participation of commuters, communities, and employer partners. • Regionalize 7DM Database and Platform: In partnership with regional county transportation partners, the Commission will transition from a locally -provisioned Inland Empire -based rideshare and vanpool system to a regional platform solution and database. Transitioning to a regional system, connecting commuter and employer data across Los Angeles, Orange, Riverside, San Bemardino, and Ventura programs, will expand the Commuter Assistance Program database and increase ridematching potentialforthose interested in sharing the ride to work via carpool or vanpool. Additionally, the regional platform will offer enhanced functionality and reporting that will bettersupport program administration staff and employer worksite efforts to increase participation in alternative modes. This approach will also net additional cost savingsforthe Commission. • Launch New Community Based Tools the traditional approach for Commuter Assistance Program hasbeen to leverage larger employer(250+) partnershipsto cost effectively access and market to employee commuters. Regionalizing the 1DM platform will introduce new community -based toolsthat will help the program cost effectively engage commuterson the home front aswell. lhiseffort will broaden the reach of the Commission'sCommuterAssistance Program and help further increase the awarenessand consideration of rideshare options. • Evolve the Commission's7DM Program: In October2019, the Commission, through SLAG and in partnership with SBCTA submitted a Caltrans — FY 2020/21 Strategic Partnership Grant Application for the "Inland Empire Next Generation Siared-Ride and Virtual Travel Study." If awarded, this effort will help shape the development of a next generation 1DM program for the Inland Empire and feed into the scope of work for the Commuter Assistance Program program administrator request forproposalsscheduled for release at the end of2021. • Standardize Services and Incentives Countywide: Due to the current Measure A funding structure, core Commuter Assistance Program services(i.e. employer support, leased Park & Rides) and incentives (i.e. $2/day Rideshare Incentives) are limited to western County employers and resident commuters. This often leadsto confusion and inequity for employers with employees from Riverside County but not eligible for the same services/incentives. Staff will evaluate the feasibility of expanding Commuter Assistance Program services and incentives countywide with the goal of stimulating 1DM in the Coachella Valley and to help enhance employerand commuterlDM participation throughout the region. Department Goals CA1 — Operate a cost-effective Commuter Assistance Program resulting in a demonstrable reduction in single occupant vehicle trips, thusassisting with congestion mitigation and improving air quality. (Policy Goals Quality of Life, Responsible Partner) CA2 — Ensure the coordination of ridesharing programs throughout the Inland Empire and the southern California region. (Policy Goals Quality of Life, Operational Excellence, and Responsb/e Partner) 115 CA3 — Broaden the reach of the program to encourage alternative transportation modes amongst all travelers and continue to grow the core base of employers and their employees. (Policy Goa& Quality of Life, Operational Excellence, Responsible Partner) ID Commuter Assistance Performance Measures and Re su lts FY18/19 Estimated FY18/19 Actual FY19/20 Estimated FY20/21 Projected CA2 Number of Employer Partners N/A 316 325 335 CA3 Number of Employee Transportation Surveys N/A 109,908 82,000 118,000 CA3 RideGuidesProduced N/A 9,477 7,100 10,100 CA1 Rideshare Week Pledges N/A 7,836 8,349 8,600 Incentive Participation: CA1 Rideshare Incentive N/A 1,056 800 1,300 CA1 Rideshare Plus 2,250 2,273 1,700 2,400 CA1 Rideshare Spotlight N/A 2,742 2,000 2,900 CA1 Number of one-way single occupant vehicle trips reduced from Rdeshare Incentive and Rideshare Spotlight participation 176,000 403,929 303,000 489,000 CA2 Leased Park & Ride Spaces 942 942 942 1,006 CA2 VanClub Vanpools N/A 67 75 90 116 Motorist Assistance Mission Statement: Motorist Assistance improves safety, reduces congestion, and enhances access to traveler information for motoriststhrough the provision of a comprehensive motorist aid system. Chart 40 — Motorist Assistance Transfers Out_ 29% Expenditures atlariesand Benefits 2%� Professional Costs 6% 9apport Costs 2% Projects a nd Operations 61% Motorist Assistance expenditures and uses are budgeted at $8,967,700, a decrease of 4% compared to the prioryear budget (Table 49) due to reductionsin call box program costs. Salaries and benefits reflect a decrease of 41% due to the one-time disbursement to fund the Commission'sCalPERSretirement net pension liability in the prior year. Asa cost savingsmeasure, there will be no performance merit -based salary increases in FY 2020/21. Professional costs of $519,500 are comparable to the prioryear. 3.tpport costsof $199,800 decreased $226,200, or53%, due to anticipated one-time expenditures for call box upgrades and removals in the previous year's budget. Reimbursements from SBCTA for half of all locally -provided 511 system related expendituresisincluded in local revenues. Program operations include $5,452,000 in towing contract costsforthe FSPprogram. Projectsand operations costs increased 1% due to anticipated increases in towing rates across new FSD contracts. Transfers out represent SAFE matching funds of $2,325,900 for FSP services and a $290,100 allocation for administrative costs. 117 Table 49 — Motorist Assistance Uses Detail FY18/19 FY19/20 FY19/20 FY20/21 Dollar Percent Actual Revised Budget Projected Budget Change Change 9lariesand Benefits $ 125,800 $ 306,100 $ 357,000 $ 180,400 $ (125,700) -41% ProfessionaI Costs Legal Services 25,800 44,500 25,500 45,500 1,000 2% Professional 9=,rvices- Genera l 297,200 477,500 449,500 474,000 (3,500) -1% Total Professional Costs 323,000 522,000 475,000 519,500 (2,500) 0% 9ipport Costs 148,000 426,000 293,300 199,800 (226,200) -53% Projects and Operations Program Operations 3,581,600 5,387,400 3,632,400 5,452,000 64,600 1% Total Projects and Operations 3,581,600 5,387,400 3,632,400 5,452,000 64,600 1% Transfers Out 3,820,400 2,748,200 2,748,200 2,616,000 (132,200) -5% lOTALMotorist Assistance $ 7,998,800 $ 9,389,700 $ 7,505,900 $ 8,967,700 $ (422,000) -4% Motorist Assistance Staffing Summary Position FY 18/ 19 FY19/20 FY20/ 21 Commuter and Motorist Assistance Manager 0.34 0.35 0.13 External Affa irs Dire c to r 0.02 0.00 0.05 Management Analyst 0.45 0.45 0.00 Procurement Manager 0.01 0.05 0.05 Public Affairs Manager 0.00 0.02 0.01 SeniorAdministrative Assistant 0.00 0.05 0.00 Senior M a nage me nt Analyst 0.02 0.06 0.72 Senior Procurement Analyst 0.01 0.02 0.09 FIE 0.85 1.00 1.05 Department Overview Asa SUE, the Commission is responsible for providing a motorist aid system for the County. This system iscomprised of three components: • The 511 traveler information system is a telephone, website, and mobile app-based service that delivers real-time traffic information, including incidentsand travel times, bus and rail trip planning, and rideshare information; • The FM program patrolsthe most congested Riverside County freeways and assistsstranded motoristsby getting them back on the road ortowed to a safe location off the freeway at no charge to motorists. FSP service is also provided in construction zones through separate funding agreements with Caltrans and Commission -funded construction projects to help mitigate congestion; and • The call box system allows motorists to call for assistance in the event of a mechanical breakdown, accident, or other emergency on the freeway. Department Goal MA1 —Provide efficient delivery of a comprehensive motorist aid system (511, FM, Call Box) and an outstanding level of service to the traveling public. (Policy Goals Quality of Life, Operational Excellence, Responsible Partner) 118 ID Motorist Assistance Performance Measures and Results FY18/19 Estimated FY18/19 Actual FY19/20 Estimated FY20/21 Projected MA1 Numberof call boxes 241 231 158 158 MA1 Numberof call box calls 1,466 1,384 1,100 900 MA1 Number of vehicle assists 46,184 44,607 46,000 48,000 MA1 Numberof 511 phone calls 108,000 114,045 108,000 103,000 MA1 Number of 511 web visits 205,000 213,689 220,000 224,000 119 Capital Project Development and Delivery Mission Statement: Capital Project Development and Delivery (Capital Projects) keeps the Commission's contract with the voters of the County by accelerating the planning, programming, and implementation of projects and programs in the Measure A TIP, as enhanced by the Toll Program, to the extent that funds are available. Capital Projects ensures that capital projects are environmentally acceptable, expertly designed, and implemented in a cost effective manner. Capital Projects acquiresand managesrequired right of way in the fairest, most economical, efficient, and timely manner possible. Chart 41 —Capital Project Development and Delivery Salariesand Benefits 0% Tra nrs� Outut 21% Debt Service 10% Capital Outlay 0% Expenditures Pro fe ssio n a l Costs 1% Projects a nd Operations 68% the budgeted expenditures and transfers out total $697,085,200 to coverall of the Commission's major capital projects(Table 50). Salariesand benefitsexpendituresrepresent lessthan 1%of the budgeted uses and reflect a decrease of 58%due to the one-time disbursement to fund the Commission'sCalPERSretirement net pension liability in the prior year. Asa cost savingsmeasure, two Capital Projects Manager FFEs will remain unfilled and will be unfunded in FY 2020/21. Additionally, there will be no performance merit -based salary increasesin FY2020/21. Professional costsof $4,026,700 primarily relate to general legal costs, specialized legal and financial advisory servicesrelated to the toll program, public communications, and property management services. Support costsof $2,089,400 consist primarily of servicesneeded to maintain the Commission'sreal properties in a condition that complies with all local codes and regulations governing property maintenance. 120 General project costs of $7,592,400 comprise program management provided by Bechtel Infrastructure (Bechtel) and permitsforhighway and rail capital projects. Significant projects included in engineering expenditures of $26,225,000 relate to the 1-15 Express Lanes -Southern Extension project; Mid County Parkway; the 71/91 connector project; grade separation projects; various commuter rail improvement and rehabilitation projects; and various Western County 1UMFregional arterial projects. Construction expenditures of $201,788,200 primarily relate to the 1-15 Express Lanes project; 15/91 ExpressLanesconnector project; 91 COP; SR60truck lanes; Pachappa underpass; I-215/Placentia interchange; Hamnerbridge widening; Jurupa Avenue grade separation; variousWestern County Measure A and IUMFregional arterial projects; and rail improvement and rehabilitation projects. Design -build costsof $100,621,100 pertain primarily to the 1-15 Express Lanesproject and the 15/91 Express Lanesconnector project. Right of way expendituresof $58,233,600 on significant projectsinclude the 91 Project; Mid County Parkway and the I-215/Placentia interchange; McKinley Avenue and Jurupa Avenue grade separation projects; various Western County 1UMF regional arterial projects; and station improvement projects. Local turnback payments to jurisdictions and the County for local streets and roads repair, maintenance, and construction amount to $48,479,100. Disbursements to CVAG for the 2009 Measure A Coachella Valley highway and regional arterial program comprise substantially all of the regional arterial expenditures. the Planning and Programming Department monitors the eligibility for local streets and roads funding and reviews reimbursement claims for Coachella Valley highway and regional arterial program expenditures. Operating and capital disbursementsof $850,000 will be made forcommuter rail capital projects. Interest payments on outstanding sales tax revenue bonds (2010B Bonds, 2013 Sales Tax Bonds, 2016 Refunding Bonds, 2017A Bonds, 2017B Refunding Bonds, and 2018 Refunding Bonds) are $41,024,000. 1he Commission will make principal paymentsof$28,495,000forthe outstanding sales tax revenue bonds. Significant transfers out consist of the following: • $9,000,000 in 1989 Measure A Western County highway fund to the 2009 Measure A County highway fund forthe 91 Project completion; • $24,271,500 in salestax revenue bond proceedsto fund the 1-15 ExpressLanesproject; • $69,519,000 from 2009 Measure A Western County highway fund to the Debt Service fund for salestax revenue bondsdebt service; • $8,220,600 from the 2009 Measure A Western County new corridor fund to the 2009 Measure A Western County highway fund for its share of the MSHCP debt service contribution; • $5,716,200 from Measure A, SB 132, and 1UMFfor the allocation of administrative coststo the General fund; • $6,000,000 from the 2009 Measure A Western County economic development fund to the 2009 Measure A Western County highway fund for the completion of 91 Project right of way acquisition; • $1,400,000 from the 2009 Measure A Western County new corridorfund to the 2009 Western County highway fund forthe 71/91 connector project; • $300,000 from the 2009 Measure A Western County highway fund to the 1UMF regional arterial fund forthe SR79 realignment project; 121 • $9,989,600from the 1UMFCETAPfund to the 2009 Measure A Western County highway fund for the Mid County Parkway second construction package and I-215/Placentia interchange; • $3,523,100from the 1UMFCETAPfund to the 2009 Measure A Western County highway fund foritsshare of the MS-ICPdebt service contribution; and • $2,812,100 from the Debt Service fund to the 2009 Measure A Western County highway and Coachella Valley highway fundsfor BABssubsidy reimbursements. Table 50 -Capital Project Development and Delivery Uses Detail FY18/19 FY19/20 FY19/20 FY20/21 Dollar Percent Actual Revised Budget Projected Budget Change Change Bulariesand Benefits $ 3,265,200 $ 7,346,700 $ 7,339,100 $ 3,121,600 $ (4,225,100) -58% Professional Costs Legal Burvices 3,351,300 1,750,300 1,673,300 1,682,000 (68,300) -4% Audit Services 89,600 35,000 39,400 38,000 3,000 9% Rnancial Advisory 99,200 136,400 71,100 78,900 (57,500) -42% Professional rvices-General 876,300 5,576,400 1,753,300 2,227,800 (3,348,600) -60% Total Professional Costs 4,416,400 7,498,100 3,537,100 4,026,700 (3,471,400) -46% 3ipport Costs 691,300 1,894,900 918,400 2,089,400 194,500 10% Projects and Operations Program Operations 5,652,600 10,370,500 6,761,300 7,592,400 (2,778,100) -27% Engineering 13,111,500 23,271,000 20,945,500 26,225,000 2,954,000 13% Construction 53,145,600 148,302,100 106,029,600 201,788,200 53,486,100 36% Design Build 107,589,300 158,341,500 135,100,000 100,621,100 (57,720,400) -36% Right of Way and Land 19,710,500 92,508,500 34,220,500 58,233,600 (34,274,900) -37% Local areetsand Roads 61,069,300 54,061,300 54,061,300 48,479,100 (5,582,200) -10% Regional Arterials 19,203,900 30,967,000 25,000,000 30,000,000 (967,000) -3% apecial audies 27,900 1,800 - - (1,800) -100% Operating and Capital Disbursements 3,944,100 15,000,000 831,600 850,000 (14,150,000) -94% Total Projects a nd Operations 283,454,700 532,823,700 382,949,800 473,789,400 (59,034,300) -11% Capital Outlay 4,995,900 4,293,500 3,597,000 3,787,000 (506,500) -12% Debt Service 69,555,700 69,537,500 69,534,500 69,519,000 (18,500) 0% Transfers Out 89,619,700 114,346,100 117,551,100 140,752,100 26,406,000 23% lOTALCapital Project Development and Delivery $ 455,998,900 $ 737,740,500 $ 585,427,000 $ 697,085,200 $ (40,655,300) -6% Capital Project Development and Delivery Staffing Summary Position FY18/19 FY19/20 FY20/ 21 Capital ProjectsM a nager 2.85 4.65 Chief Financial Officer 0.16 0.21 Deputy Director of Finance 0.02 0.02 Deputy Executive Director 0.08 0.17 Executive Director 0.08 0.17 External Affa irs Direc to r 0.10 0.07 Facilities Administrator 0.01 0.19 Financial Analyst 0.00 0.50 Legislative AffairsManager 0.04 0.04 Management Analyst 0.02 0.05 Planning and Programming Director 0.04 0.18 Planning and Programming Manager 0.00 0.07 Procurement Manager 0.62 0.54 Project Delivery Director 0.94 0.96 Public AffairsManager 0.35 0.42 RecordsTechnician 0.04 0.00 Right of Way Manager 1.00 0.99 niorAdministrative Assistant 0.18 0.12 SeniorRnancialAnalyst 0.10 0.15 niorManagement Analyst 3.26 3.30 niorManagement Analyst -Toll 0.00 0.65 SeniorProcurement Analyst 0.62 0.47 Toll OperationsManager 0.56 0.60 Toll Program Director 0.68 0.59 Toll Project Manager 0.93 1.00 Toll Technology Manager 0.57 0.00 Transit Manager 0.00 0.60 FIE 13.25 16.71 2.57 0.15 0.02 0.09 0.05 0.01 0.14 0.00 0.09 0.00 0.00 0.02 0.29 0.87 0.44 0.00 0.98 0.14 0.02 3.29 0.20 0.39 0.49 0.38 0.90 0.49 0.00 12.02 122 Department Overview The primary responsibility of Capital Projects is the development and delivery of major highway and rail capital projectswhere the Commission is identified asthe lead agency. The delivery of a capital project can include taskssuch asfeasibility studies, preliminary engineering, environmental clearance, final design, right of way acquisition, utility relocation, construction, construction management, and design -build in addition to the management of varioustypesof agreements. Capital Projects also develops and delivers a limited number of highway and regional arterial projectson behalf of local jurisdictions; these effortsare funded by the localjurisdictionsthrough funding agreements with the Commission. Approximately 70% of the Commission's FY 2020/21 budgeted expendituresoriginatesin this department managed by the Toll Program and Project Delivery Directorsresponsible for the capital program. Capital Projectsacceleratesdelivery of the Measure A, toll, state, and federally funded highway, regional arterial, and rail capital improvement projects throughout the County. Highway improvements currently in progress include the addition of mixed flow, truck climbing and descending, and tolled express lanes; widening and realignment projects; interchange improvements; and a new CETAP corridor. Commuter rail capital improvements include the expansion of commuter rail service in Western County and related station improvement and rehabilitation projects. Regional arterial capital improvements include Western County 1UMF and Measure A regional arterialprojectsadministered bythe Planning and Programming Department and reimbursements to CVAG related to the highway and regional arterial program that it administersin the Coachella Valley. Capital Projects may develop and deliver Western County regional arterial projects on behalf of local jurisdictions, asnoted previously. The 2009 Measure A program includes funding to the incorporated cities and the County unincorporated areas for local streets and roads maintenance, repair, and construction. The budgeted amount isset by formula established in the Measure A TIP. Each jurisdiction'srespective allocation is based on population (Western County and Palo Verde Valley) or dwelling units (Coachella Valley) and the amount of sales tax generated. The Planning and Programming Department administersthe local streetsand roadsfunding eligibility reviews. Capital Projectsprovidesthe necessary coordination between the Commission and Caltransfor the development of scope, cost, and project delivery schedules for Measure A projects that include S11Pfunding. Given the support required to oversee and participate in the project development work, costsfor Commission staff and related support are included in this department budget. The projects identified in the FY2020/21 budget funded by Measure A, 1UMF, state, or federal fundsaswell as existing and future toll revenues require the continued support of the Bechtel project management team which includes program managers, project engineers, construction engineers, inspectors, contractsadministration, and support staff. The Commission incurred debt for highway (non -tolled and tolled), new corridor, regional arterial, and local streetsand roadsprojectsforwhich title usually vestsor, upon completion, will vest with Caltransorlocaljurisdictionsforongoing operationsand maintenance. The financed projectsare not atsofthe Commission forwhich the Commission will have operating responsibilities, except for the intangible rights to operate the express lanes on SR91 and 1-15. Accordingly, future operating costsrelated to the non -capitalized projectscannot be determined since they are not the Commission's responsibility and are not applicable to the annual budget. Operating budget impacts for the Commission'stoll assets and non -financed rail assets are included in the annual budget. 123 fight of Way Acquisition and Support Services The primary goal of the Right of Way Management Division is the delivery of right of way in the most cost-effective manner and within project schedules, while adhering to federal and state regulations. To implement the Commission's directive, the Commission maintains on -call agreements with right of way consultant services in the fields of right of way engineering and surveying, environmental assessment, appraisal and appraisal review, acquisition and relocation, feasibility studies and cost estimates, property management, and utility relocation. The Right of Way Management Division supervisesand managesright of way servicesand related support for individual projectsthat are included in the Capital Projects Department budget. Property Management The Commission strives to manage its real property with the objective of maximizing existing and future public transportation benefits, safety, and income by means of professional property management policies and procedures. This includes issuing licenses and rights of entry for authorized third -party uses, as well as investigating and resolving issues regarding uses not authorized by the Commission. During FY2014/15, the Commission performed a comprehensive analysis of existing licenses and encroachments. The Commission resolved private use and utility encroachments on the SJBL, resulting in additional licenses. The Commission will continue to monitor, identify and, if necessary, enter into new licensor eliminate encroachmentson SJBL. In certain limited situations, the Commission may also grant easements. The property management scope of work on all Commission -owned propertiesconsistsof general maintenance activities and security measures. The property management function includesthe demolition and clearance of structuresand otherimprovementson acquired property, excluding commuter rail stations. Additionally, the Commission must manage real property acquired for a project until required for construction. Snce 1990, the Commission hasacquired property astsin the course of rail and highway project implementation. The Commission acquires and transfersto Caltrans most of these parcels upon project completion. Upon project completion, all remaining portions of properties within every project are reasccsocd and deemed surplus, when it has been determined that the continued retention of the property no longersupportsthe Commission'spolicy goalsand objectives. Property acquisition forthe 91 Project began in 2010 with all of the 197 required parcelsacquired and delivered to the design -builder by June 2015. One remaining parcel acquired through condemnation action isin active litigation. Long -Term Strategic Planning The Commission completed a significant effort in December2006 to develop an implementation plan strategy for the 2009 Measure A state highway program, with a focuson the first 10 yearsof the program through 2019. The effort, known as the Western County Highway Delivery Plan, included an objective -based assessment of the Western County portion of the 2009 Measure A T1P along with the prioritization of the program of projects. The Commission selected four highway corridors(I-215, I-15, I-10, and SR-91) asthe priority focusfor the first 10 yearsof the 2009 Measure A program, and long-term development work wasapproved for large-scale projectssuch asthe development of the Mid County Parkway and realignment of SR79. Project development activities for these projects have been ongoing, including an update and reprioritization in January2010 in response to the economic downturn. The Commission completed a scope reevaluation of the 1-15 Express Lanes project and adopted a new scope of work that consists of tolled express lanes on the northern 15 miles of 1-15 in the County. The Commission 124 deferred the 1-10 truck climbing lanes project several years and replaced it with added safety improvements on SR60, which is under construction. For the strategic projects, the Commission completed preliminary engineering and environmental clearance for the Mid County Parkway and SR79 realignment projects and will begin construction on the first construction package for the MCP, the I-215/Placentia interchange. Following the January 2019 Annual Workshop, the Commission assigned an ad hoc committee to establish a new 10-yearWestern County Highway Delivery Plan for2019-2029. Development of the new Western County Highway Delivery Plan focused on Commission -sponsored highway projects in Western County to be delivered between 2019 and 2029. In July 2019 the new Western County Highway Delivery Plan was adopted, for the period 2019- 2029. Projects were placed into three groups based on the likelihood of obtaining full funding. Group 1 projects (or project phases) are considered fully -funded given existing and expected local funding from Measure A, tolls, and other local sourcesaswell asstate and federal funding. Group 2 projects(orproject phases) are partially funded with full funding likely available overthe 2019-2029 period. Group 3 projects represent partner agency -sponsored projects being assisted by Commission funding. While not part of the Commission'sWestern County Highway Delivery Plan these notable projectsare reflected for reference. CVAG developed a strategic plan for Coachella Valley highway and regional arterial projects based upon a transportation project prioritization study that isupdated periodically. The PVL project, included in the 1989 and 2009 Measure A programs, is now complete and has been in operation since June 2016. the Commission develops other rail capital projects in coordination with 9CRRA or based on a rail station plan that is updated periodically. Station operation costsare included in the Rail Department budget. Four new Western County transportation corridorswere identified through CETAPand are eligible for 2009 Measure A Western County new corridor and 1UMF CETAP funding. Given the size and anticipated cost of these new corridors, they are moving forward on varied schedules with the work on the internal corridors, the Mid County Parkway being the most advanced. Right of way acquisition for the first construction package of the Mid County Parkway is proceeding, and acquisitions for the remainder of Mid County Parkway will be considered for extraordinary acquisitionson a pay-as-you-go basis. Additionally, the Commission will participate in the improvement of a wildlife corridor crossing under SR91, B Canyon, in collaboration with Caltrans, U.S. Fish and Wildlife, U.S. National Forest, California Department of Fish and Wildlife, and the California Department of Parks and Recreation. These strategic planning activities play a significant part of the Commission's annual budget process, in particularthe capital budget. Detailed descriptions of the capital projects, including local streets and roads funding, that are included in the FY2020/21 budget follow the Department Goals. Department Goals CAP1 —Build upon and strengthen the partnership with Caltranstoward timely delivery of identified Measure A, toll program, and STIP projects. (Policy Goals: Quality of Life, Connecting the Economy) 125 CAP2 —To the extent permitted by law, pursue reasonable involvement of local DBE and SBEfirms in contract work. (Policy Goal: Operational Excellence) CAPS — Provide effective communication of project progress to the Board, city councils, the County Board of Supervisors, Caltrans, CTC, FTA, and FHWA. (Policy Goal: Operational Excellence) CAP4 — Work with Caltrans and other agencies toward completion of preliminary engineering and environmental clearance of all projects. (Policy Goal: Quality of Life) CAP5 — Construct the highway projects identified in the budget. (Policy Goals: Quality of Life, Operational Excellence, Connecting the Economy) CAPE — In coordination with the Rail Program Manager, construct capital improvements at existing commuter rail stations as identified in the budget. (Policy Goals: Quality of Life, Operational Excellence, Responsible Partner) CAP7 —Acquire right of way for rail and highway projects identified in the budget. (Policy Goals: Quality of Life, Operational Excellence) CAP8 — Identify innovative financing strategies to fully fund projects identified in the Westem County Highway Delivery Plan. (Policy Goals: Quality of Life, Operational Excellence) Capital ProjectsSummary The following is a summary of the capital projects included in the FY 2020/21 budget with costs generally categorized by preliminary engineering, final design, right of way, construction, and design -build phasesin addition to otherproject-related costssuch assalariesand benefits, Bechtel project management, and legal fees. Western County Highway and Regional Arterial Projects SR 60 Truck Lanes(P003029) Provide funding and support for construction for eastbound climbing and westbound descending truck climbing lanesfrom Gilman SpringsRoad to west of Jack Rabbit Trail; upgrade existing shouldersto standard widths. Construction of the project isexpected to be completed by 2021. The total project cost isestimated at $138 million. FY2020/21 Cost $ 50,000 Environmental engineering $ 42,716,000 Construction/construction support $ 110,000 Right of way acquisition/support services $ 689,700 Other project -related costs Funding Impact Costs funded with CMAQ, S11P/RIP, SHOPP, and 2009 Measure A highway funds. Caltrans is the lead agency for preliminary engineering and design.The Commission isthe lead agency for right of way acquisition and construction. Operating Budget Impact N/A; state highway operationsare the responsibility of Caltrans. 126 SR 79 Realignment (P003003) Complete post -environmental phase work and permitting for realignment from Gilman Springs Road to Domenigoni Parkway. The total estimated project cost is $1.2 billion. Initiation of subsequent phaseswill be dependent upon the availability of funding. Right of way acquisition dependent upon the availability of funding. FY2020/21 Cost $ 300,000 Preliminary engineering $ 85,900 Other project -related costs Funding Impact Costs funded using 1UMF regional arterial, 2009 Measure A highway, and federal funds. Operating Budget Impact N/A; state highway operationsare the responsibility of Caltrans. 91 Project (P003028) Continue to closeout right of way, soundwall construction, and other activities for the tolled express and mixed flow lanes project from the Orange County line to Pierce Street, including tolled express lanes connectivity to 1-15 and improvements to the 15/91 interchange. Project development activitiesbegan in September2007 and Ianeswere open to traffic in March 2017. The 91 Project cost isestimated at $1.4 billion, including financing costs. FY2020/21 Cost $ 1,471,000 Construction $ 10,373,000 Right of way acquisition/support services $ 2,638,100 Design -build $ 1,011,000 Other project -related costs Funding Impact Costsfunded using 2009 Measure A highway and new corridor funds including sales tax revenue bonds and commercial paper, toll revenue bonds, a federal T1RA loan, S11P and State LPPfunds, and 1989 Measure A contribution. Operating Budget Impact Operation and maintenance of the tolled express lanes facilitiesare the responsibility of the Commission, while all other state highway operations are the responsibility of Caltrans. Current estimatesof annual operating and maintenance costs are $19 million. Such costsare paid from the collection of RCTC 91 ExpressLanestoll revenues. Toll operating costsare included in Toll OperationsDepartment budget. 71/91 Connector Project (P003021) Continue right of way acquisition and utility relocation work and environmental revalidation work for improvementsto the 71/91 connector in anticipation of construction funding from the 331 programsand federal grants. Final design began in March 2012.The total estimated project cost is$118 million. FY2020/21 Cost $ 3,000,000 Final design $ 700,000 Right of way acquisition/support services $ 355,700 Other project -related costs Funding Impact Costs for right of way acquisition and utility relocation work primarily funded using Congressionally -designated federal funding remaining from previous area projects. Other costs funded with 2009 Measure A highway fundsand SB 1 LPPfunds. Operating Budget Impact N/A; state highway operationsare the responsibility of Caltrans. 127 SR-91 Corridor Operations Project (P623046) Complete environmental approvals, final design, and advertise a construction contract fora westbound general purpose lane from the Green River Road on -ramp to SR241 in Orange County. Project development activitiesbegan in May 2018, and construction isanticipated to start in 2020. The project cost isestimated at $43 million, including contingency. FY 2020/ 21 Cost Funding Impact Operating Budget Impact $ 265,000 Preliminary engineering $ 36,242,000 Construction/construction support $ 215,000 Design -build $ 275,000 Right of way/support services $ 393,100 Other project -related costs Costs for environmental and final design work will be funded using surplus toll revenues. The Commission's authorizing legislation, SB 1316, requires that all RCTC 91 Express Lanes surplus revenue be spent fortransportation purposeswithin the SR-91 corridor. Construction costs will be funded by federal SIBG and Highway Infrastructure Program funds and a contribution from OCTA. N/A; state highway operationsare the responsibility of Caltrans. 1-15 Express Lanes Project (P003027) Continue design -build and toll system design and construction to add two tolled express lanes in each direction from SR60 to Cajalco Road in Corona. The project is using the design -build method of project delivery. Project development activities began in April 2008, and lanes are expected to be open to traffic in late 2020. The estimated total project cost is $472 million, including financing costs. FY 2020/ 21 Cost Funding Impact Operating Budget Impact $ 14,672,000 Construction $ 51,643,000 Design -build $ 3,406,400 Other project -related costs Project development costs funded using 2009 Measure A highway funds. Federal CMAQ and STBG funds to fund interagency support and a portion of design -build costs. A federal T1FIA loan secured by the Commission funds a portion of design -build and toll system costs. Proceeds from sales tax revenuesdebt completed the project financing. Operation and maintenance of future tolled express lanes facilitiesare the responsibility of the Commission, while all other federal and state highway operations are the responsibility of Caltrans. Preliminary estimates of annual operating and maintenance costsare $14 million. Such costswill be paid from the collection of 15 ExpressLanestoll revenues. 128 15/91 Express Lanes Connector (P003039) Continue design and construction to add an expresslanesconnectorbetween SR-91 and 1-15 to the north. The project is using the design -build method of project delivery for some of the work through amendmentsto existing contracts related to the 91 Project (P003028) and the 1-15 Express Lanes project (P003027), as permitted by AB 115 signed by the Governor in June 2017. The remaining work will be accomplished through a competitive design -build procurement that began March 2019. Project development activitiesbegan in May 2017, and lanesare expected to be open to traffic by 2023 or earlier. The estimated total project cost is$270 million. FY2020/21 Cost Funding Impact Operating Budget Impact $ 3,072,000 Construction $ 46,125,000 Design -build $ 1,032,000 Right of way/support services $ 1,391,100 Other project -related costs Costs funded primarily by state SB 132 funds with RCTC 91 Express Lanessurplustoll revenuesforthe balance. Operation and maintenance of future tolled express lanes facilitiesare the responsibility of the Commission. Such costswill be paid from the collection of 15 ExpressLanestoll revenues. 1-15 Express Lanes-Southem Extension (P003044) Preliminary engineering and environmental studiescommenced in May 2019 with execution of a consultant contract. The proposed project isto add two express lanes in each direction on the 1-15 between 3R74 and Cajalco Road. The project seeksto extend express lanessouth of the 1-15 Express Lanes project (P003027) currently under construction. Public scoping of the project wascompleted in November2019. Engineering and environmental studieswill ramp up and continue through FY2020/21. Traffic and preliminary engineering studies will continue to determine feasibility and scope of the 1-15 Express Lanes -Southern Extension advanced operations phase. Project development activities began in September 2017 when the Board approved S11Pfundsforthe next phase of project development. FY2020/21 Cost Funding Impact Operating Budget Impact $ 5,500,000 Preliminary engineering $ 1,362,000 Other project -related costs All project development costs funded by Federal CMAQ and Measure A funds. CMAQ funds subsequently replaced S11P funds. Development of future tolled express lanes can be funded by federal and state sources, in addition, to Measure A funds. Operation and maintenance of future tolled express lanes facilitiesare the responsibility of the Commission, while all other federal and state highway operations are the responsibility of Caltrans. Commission costs will be paid from the collection of toll revenues. 129 1-15/ Railroad Canyon Interchange (005104) Continue construction of Phase 1 forthe city of Lake Bsinore. the estimated total project cost is $35 million. FY 2020/ 21 Cost Funding Impact Operating Budget Impact $ 700,000 Final design $ 24,900,000 Construction/construction support $ 825,000 Right of way/support services $ 527,500 Other project -related costs Costsfunded using IUMF, SB 1 LPP, and S11P. N/A; federal highway operations are the responsibility of Caltrans. Mid County Parkway (P002302, P002324, P002317 & P002320) Continue construction of I-215/Placentia interchange, the first construction package, commence design forthe second construction package, and perform activitiesrelated to post- environmental/permitting, design and right of way for a new corridor from 1-215 to SR79. Construction of this new facility will be completed over many years as funding becomes available and isestimated to cost $1.7 to $1.9 billion. FY 2020/ 21 Cost Funding Impact Operating Budget Impact $ 5,050,000 Preliminary engineering/final design $ 29,655,000 Construction/construction management/support services $ 23,050,000 Right of way acquisition/support services $ 1,281,300 Other project -related costs Costs for first two construction packages funded with 1UMF CETAP, 2009 Measure A new corridor, SB 1 LPP, and SIBG funds. Responsibility for highway operationshasnot been determined. Pachappa Underpass (P003038) Continue construction phase. Design was performed by Caltrans. Project will remove the Pachappa shoofly and construct the retaining wall, drainage, and trackworkforthe permanent Pachappa underpass. the total project cost is estimated at $18 million with an anticipated completion date in 2020. FY 2020/ 21 Cost Funding Impact Operating Budget Impact $ 100,000 Engineering support services $ 13,832,000 Construction/construction management/support services $ 170,000 Right of way acquisition/support services $ 269,100 Other project -related costs Costsfunded with federal earmarks, CMAQ, and SB 1 LPPfunds. N/A; federal highway operations are the responsibility of Caltrans and railroad operations a re the responsibility of Union Pacific Railroad. 130 Various Westem County Riverside County Transportation Efficiency Corridor Projects (P003040, P003041, P003042, P003043 & P003132) Provide funding and support to local jurisdictionsforthe engineering, construction, and right of way activities related to four Western County projects including I-15/Limonite interchange, Hamner bridge widening, and Jurupa Avenue and McKinley grade separation projectsfunded bySB132. FY 2020/ 21 Cost Funding Impact Operating Budget Impact $ 7,000,000 Preliminary engineering/final design $ 11,925,000 Construction $ 15,075,000 Right of way acquisition/support costs $ 6,300 Other project -related costs Costsfunded using state SB 132 funds. N/A; federal highway operations are the responsibility of Caltrans; grade separation operations are the responsibility of the local jurisdiction. Santa Ana River Trail (P007201 & P007202) Provide support to the District forthe Santa Ana River Trail projectsundera cooperative planning and development agreement. lhe District isthe lead agency forenvironmental compliance for NEPA and CEQA, and the Commission is responsible for project oversight and approval, final design, and construction. the District isresponsible for 100%of costs. FY 2020/ 21 Cost Funding Impact Operating Budget Impact $ 600,000 Preliminary engineering/final design $ 10,000 Construction/construction support services $ 130,000 Right of way acquisition/support costs $ 510,700 Other project -related costs Costswill be funded by the District. N/A; operations a re the responsibility of the District. Costsforthisproject are reported in the Planning and Programming Department; however, the project details are summarized in the Capital Projects Department as Capital Projects staff is providing the support forthe project. VariousWestem County Highway Projects(P003001, P003005, P003017, P003050, P003051, P005134, P613999, P615133, P622402, P623994, P623999, P683999 & P735000) Provide funding and support for the engineering, construction, and right of way activities related to variousWestern County highway and grade separation projects, including the SR91 high occupancy vehicle (HOV) lanesfrom Adams Street to the 60/91/215 interchange, 60/215 East Junction HOV lane connectors, SR74/I-15 to 7th Street, and SR74 corridor-Ethanac Road projects. FY 2020/ 21 Cost Funding Impact Operating Budget Impact $ 400,000 Preliminary engineering $ 190,000 Construction $ 691,100 Right of way /support costs $ 2,429,800 Other project -related costs Costsfunded using primarily 1989 and 2009 Measure A highway funds. N/A; federal highway operations are the responsibility of Caltrans. 131 Various Westem County Measure A and 1UMF Regional Arterial Projects (P005203, P005207, P005209, P005102, P005210, P005107, P005116, P005127, P005135, P725000, P665102 & P005200) Provide Western County Measure A and lUMFfunding and support through the Planning and Programming Department for the engineering, right of way, and construction activities related to various Western County Measure A and 1UMF regional arterial projects approved by the Commission. Total project costs approved for MARA and 1UMF regional arterial projects approximate $143 million. FY2020/21 Cost Funding Impact Operating Budget Impact $ 140,000 Engineering support services $ 13,488,400 Construction $ 4,135,000 Right of way acquisition/support costs $ 326,400 Other project -related costs Costsfunded using 1UMF regional arterial and 2009 Measure A regional arterial funds with various local jurisdictions as lead agency fortheir respective projects. N/A; regional arterial operations are the responsibility of the local jurisdictions. 91 Express Lanes Major Repair and Rehabilitation (P009103) Commence asphalt overlaysof pavement and sealing of joints in retaining wallson SR-91 from 1-15 to Lincoln Avenue related to an existing underlying native soil condition that has experienced settlement since 91 Project construction. In accordance with an amendment to the Toll Facility Agreement (TFA), Caltranshasagreed to share 50%of the cost. lhe Commission's cost forthiswork isestimated to be $3.4 million forthe duration of the TFA. FY2020/21 Cost Funding Impact Operating Budget Impact Rail Projects $ 1,500,000 Construction $ 400,000 Design -build $ 37,900 Other project -related costs Costs funded with RCTC 91 Express Lanes repair and rehabilitation funds. N/A; federal highway operations are the responsibility of Caltrans. Riverside Layover Facility (P653822) Continue construction of improvements to Metrolink's West Layover Facility north of the Riverside Downtown station. Improvements include expansion of the facility to accommodate three storage tracks with an overall storage capacity of three 6-train sets. the total estimated project cost is$6.3 million. FY2020/21 Cost Funding Impact Operating Budget Impact $ 20,000 Engineering support services $ 9,300,000 Construction/construction management $ 70,000 Right of way support costs $ 168,600 Other project -related costs Costsfunded using FTA Section 5307 grant funds. Operationswill be the responsibility of RRA. 132 Moreno Valley — March Field Station Upgrade (P004026) Perform activities related to engineering and construction to add an additional platform, rehabilitate and replace an existing second track, and add a new signal system. Engineering and construction are expected to be completed by 2022. the total project cost isestimated at $40 million. FY 2020/ 21 Cost Funding Impact Operating Budget Impact $ 1,000,000 Final design $ 224,800 Construction support services $ 198,200 Other project -related costs Costsfunded using FTA Section 5307 grant funds. Operationswill be the responsibility of the Commission and are funded using 2009 Measure A Western County rail funds. Rverside-Downtown Ration Improvements Project (P004027) Continue environmental studiesforexpand ing operational flexibility through the construction of an additional center platform and associated trackson the south side of the station, extend the existing pedestrian bridge, and add an additional elevator for the new platform. Engineering, construction, and right of way are expected to be completed by 2024. The total project cost is estimated at $24 million. FY 2020/ 21 Cost Funding Impact Operating Budget Impact $ 2,700,000 Preliminary engineering $ 1,600,000 Right of way support costs $ 359,200 Other project -related costs Costsfunded using FTA Section 5307 grant funds. Operationswill be the responsibility of the Commission and are funded using 2009 Measure A Westem County rail funds. Station Rehabilitation and Security (P004011) Provide funding and support for station upgrades, improvements and security at the Rverside Downtown, Rverside — La Serra, Corona — North Main, West Corona, March Feld - Moreno Valley, and Perris - South stations. Improvements include solar lighting project, parking lot repaving and restriping, elevator modernization, high definition camera replacement, fencing, A1P passcnger access, signage, station painting, and walk -ways improvements. Construction began in FY2017/18with completion anticipated in FY2020/21. FY 2020/ 21 Cost Funding Impact Operating Budget Impact $ 3,637,000 Property improvements(capital outlay) $ 224,500 Other project -related costs Costsfunded using FTA, MSRC, LCTOP, SB 1, and 2009 Measure A Western County rail funds. Operationswill be the responsibility of the Commission and are funded using 2009 Measure A Westem County rail funds. Various Western County Rail Projects(P004023, P652402, P653823, P653826 &, P654199) Provide Measure A funding and support for right of way activitiesrelated to variousrail projects. FY 2020/ 21 Cost Funding Impact Operating Budget Impact $ 100,000 Construction support services $ 127,500 Right of way/support services $ 3,305,000 Other project -related costs Costsfunded using 2009 Measure A Western County rail funds. N/A; these rail projects may be improvements beyond the rail station boundaries that benefit local jurisdictions that are responsible foroperationsin those areas. 133 bail Station Maintenance (P244001, P244002, P244003, P244004, P244006, P244010, P244020, P244021, P244022, P244024 & P244199) Provide maintenance, improvements, and security at the Riverside Downtown, Jurupa Valley — Pedley, Riverside —La Serra, Corona —West, Corona —North Main, Perris —Downtown, Riverside —Hunter Park/UCR, Moreno Valley —March Field, Perris —South, and RDOCC. FY 2020/ 21 Cost Funding Impact Operating Budget Impact Local Streets and Roads $ 543,500 Property improvements(capital outlay) $ 7,038,900 Other project -related costs Costsfunded using 2009 Measure A Western County rail funds. Station maintenance isthe responsibility of the Commission and isfunded using 2009 Measure A Western County rail funds. Westem County Area Distribute local return funding for local streetsand roads projects in Western County. FY 2020/21 Cost Funding Impact Operating Budget Impact $ 516,000 Banning 825,000 Beaumont 154,000 Calimesa 168,000 Canyon Lake 3,655,000 Corona 1,187,000 Ea stva le 1,537,000 Hemet 1,851,000 Jurupa Valley 1,172,000 Lake Elsinore 1,553,000 Menifee 3,501,000 Moreno Valley 2,180,000 M u rrieta 578,000 N o rc o 1,667,000 Perris 6,499,000 Rive rsid e 775,000 San Jacinto 2,783,000 Temecula 565,000 Wild o m a r 4,917,000 Riverside County 36,083,000 Total Western County (115,300) Less: Allocation of administrative costs $ 35,967,700 Total Western County, net All costs distributed in accordance with 2009 Measure A local streetsand roadsfunds. N/A; local streetsand roadsoperationsare the responsibility of the local jurisdiction. 134 Coachella Valley Area Distribute local retum funding FY 2020/ 21 Cost Funding Impact Operating Budget Impact for local streetsand roadsprojectsin Coachella Valley. $ 1,233,000 Cathedral City 531,000 Coachella 421,000 Desert Hot qprings 230,000 Indian Wells 1,681,000 Indio 1,299,000 La Quinta 2,391,000 Palm Desert 1,918,000 Palm Springs 789,000 Rancho Mirage 1,518,000 Riverside County 12,011,000 Total Coachella Valley (115,300) Less: Allocation of administrative costs $ 11,895,700 Total Coachella Valley, net All costs distributed in accordance with 2009 Measure A local streetsand roadsfunds. N/A; local streetsand roadsoperationsare the responsibility of the local jurisdiction. Palo Verde Valley Area Distribute local return funding for local streetsand roadsprojectsin Palo Verde Valley. FY 2020/ 21 Cost Funding Impact Operating Budget Impact $ 548,000 Blythe 148,000 Riverside County 696,000 Total Palo Verde Valley (80,300) Less: Allocation of administrative costs $ 615,700 Total Palo Verde Valley, net All costs distributed in accordance with 2009 Measure A local streetsand roadsfunds. N/A; local streetsand roadsoperationsare the responsibility of the local jurisdiction. 135 Toll Operations Mission Statement: Toll Operations efficiently operates express lanes with high customer satisfaction to reduce congestion, improve mobility, and manage demand. Chart 42 —Toll Operations Salaries and Benefits 0% Pro fessio n a I Costs 1% Debt rvice 94% Expenditures alp port and Maintenance Costs 1% Pro g ra m Operations 4% Toll operations expenses of $699,129,900 represent the third full year of operating expenses and debt service for the RCTC 91 Express Lanes and approximately one-half year of operating expenses for the 15 Express Lanes following substantial completion of the 1-15 Express Lanes project. (Table 51). The 1-15 ExpressLanesproject capital expendituresare included in the Capital Project Development and Delivery Department. Approximately 76%of the expenses and other uses are comprised of operations, maintenance, and support costs, when excluding debt service. Salariesand benefits reflect a decrease of 17% due to the one-time disbursement to fund the Commission's CaIPERS retirement net pension liability in the prioryear. Asa cost saving measure, there will be no performance merit -based salary increases in FY 2020/21. Professional costs of $8,565,900 consist of toll services consultants, traffic and revenue consultants, financial advisors, general and specialized legal counsel, audit and financial services, and rating agency and 11F1A loan servicing fees. aipport and maintenance costs of $7,637,700 include road and systems maintenance, insurance, credit card processing fees, violationsenforcement, transponder costs, marketing, lease, travel, and other support costs. Program operations costs of $24,901,800 primarily includes the Commission's share of the toll contractor cost to operate the 91 Express Lanes, toll contractor cost for the 15 Express Lanes, system changes to comply with statewide technology requirements, and F5P services. Construction and design build costs of $1,900,000 consist of RCTC 91 Express Lanes repair and rehabilitation. Capital outlay of $315,000 consistsof 6C transponder technology. 136 Debt service of $653,314,900 reflectsthe refinancing of the 2013 Toll Bonds(current interest bonds) and 2013 11F1A Loan related to the 91 Project with the instance of the 2020 Refunding Bonds. IT consists of a $147,488,000 payment to escrow agent, $2,883,400 cost of isgiance, $484,571,600 principal payment, and $18,371,900 interest payment for the 2013 Toll Bonds (current interest bonds) and 2020 Refunding Bonds Transfersout comprise $1,370,200 forthe administrative cost allocation. Table 51 -Toll Operations Uses Detail FY18/19 Actual FY19/20 FY19/20 FY20/21 Dollar Percent Revised Budget Projected Budget Change Change al lariesand Benefits Professional Costs Legal rvices Audit Services Rnancial Advisory ProfessionalServices- General Total Professional Costs sjpport and Maintenance Costs Projects and Operations Program Operations Construction Design Build Total Projects and Operations Capital Outlay Debt Service Tra nsfers Out TOTAL Toll Operations $ 578,400 $ 1,353,400 $ 846,200 206,100 59,000 824,500 350,000 47,000 75,000 2,505,500 250,000 46,000 96,100 2,066,200 1,089,600 2,977,500 3,235,100 4,543,300 6,779, 300 11, 670, 200 2,458, 300 3,450, 700 8,536,900 200,000 6,779,300 1,096,700 7,119,900 4,309,100 $ 24, 208,100 11,670,200 766,100 637, 386, 500 3,059,500 $ 661,756,500 8,736,900 426,000 7,119, 900 2,539,700 $ 25,577,700 Toll OperationsStaffing Summary $ 1,124,400 1,140,000 64,800 150,000 7,211,100 8,565,900 7,637,700 24,901,800 1,500,000 400,000 26,801,800 315,000 653,314,900 1,370,200 $ 699,129,900 $ (229,000) -17% 790,000 226% 17,800 38% 75,000 100% 4,705,600 188% 5,588,400 188% 3,094,400 68% 13,231,600 113% 1,500,000 N/A 400,000 N/A 15,131, 600 130% (451,100) -59% 15,928,400 2% (1,689,300) -55% $ 37,373,400 6% Position FY18/19 FY19/20 FY 20/ 21 Accounting Technician Chief Financial Officer Deputy Director of Finance Deputy Executive Director Executive Director External Affairs Director Fa c ilitie s Ad m in istra to r Financial Analyst Procurement Manager Public AffairsManager Senior Financial Analyst Senior Management Analyst -Toll Senior Procurement Analyst Toll Operations M anager Toll Program Director Toll Project Manager Toll Technology Manager FIE 0.03 0.00 0.03 0.02 0.01 0.03 0.02 0.02 0.03 0.02 0.00 0.00 0.01 0.00 0.00 0.50 0.15 0.02 0.01 0.00 0.39 0.43 1.00 1.35 0.01 0.05 0.44 0.40 0.24 0.33 0.00 0.00 0.43 0.40 2.80 3.57 0.00 0.03 0.06 0.02 0.02 0.03 0.09 1.00 0.12 0.01 0.38 1.80 0.12 0.51 0.38 0.05 0.51 5.13 137 Department Overview ExpressLanesPlanning History In December 2006, the Commission adopted the Western Riverside County Delivery Plan that served asa 10-year capital improvement plan from 2009-2019 for Western County freewaysand highways. To address unprecedented population, economic, and travel demand growth in Western County, the Commission desired to provide freewaycorridorimprovementsbeyond what traditional funding sourceswould be able to provide. The Commission studied innovative funding sources, including tolling, in advance of the adoption of the Western Riverside County Delivery Plan asa meansto provide more transportation improvements. In 2006,the Commission conducted a tollfeasibilitystudythatdetermined thatSR91 and I-15were both feasible corridors to introduce tolling via high occupancy toll lanes (now referred to as express lanes). The Western Riverside County Delivery Plan detailed ambitious improvements to the SR-91 and 1-15 corridors including the addition of two tolled express lanes in each direction and the ability to operate and maintain these tolled express lanes for a Tong -term period. The Commission's commitment in 2006 to tolling also indicated its future intent to become an operating toll agency and establish the Toll Operations Department. In FY 2017/18, the Commission initiated a second toll feasibility study (Next Generation Toll Feasibility Study) to assist in the determination of the location and type of future toll projects. In FY2019/20, the Commission initiated project development activities for the 15 Express Lanes —Southern Extension, which are included in the Capital Project Development and Delivery Department. ExpressLanesOperations The Toll OperationsDepartment, assupported by contractors, isresponsible forthe management of express lanesin Riverside County in a manner that adheresto the toll policiesforeach system. In addition to operations and maintenance, the responsibilities include toll system design, implementation, violations enforcement, customer service, and associated traffic and incident management. Toll Operationsprovidesdirect oversight to the toll servicesoperatorsand roadside system contractor and administers contracts with the California Highway Patrol for toll enforcement, Caltrans for road maintenance, and various maintenance contracts that fall outside of each operator'sscope of work. The Commission utilizesa marketing servicesconsultant for planning and implementing marketing effortsrelated to the RCTC 91 ExpressLanesand the 15 ExpressLanes. Monitoring and reporting on actual toll transactions and related toll revenues is a primary responsibility for Toll Operations. Staff compares actual transactions and revenue to investment grade study projectionsadopted by the Commission. In addition to monitoring toll revenues, Toll Operationsmonitorsand analyzesoperation and maintenance costsduring the fiscal year. Toll Operations manages the operations and maintenance activities for the new Regional Operations Center and the Facilities and Maintenance Building in Corona, asthese Commission purchased these facilitiesforexpresslanesoperations. Toll Operations supports project development by providing comprehensive input to the tolling concept of operations, contractorprocurements, agency agreements, public outreach, Regional OperationsCenterdevelopment, and toll policiesand businessrules. RCTC 91 Express Lanes In March 2020, the Commission completed its third full year of operation of the RCTC 91 Express Lanes. The completed 91 Project connectsthe OCTA 91 ExpressLaneswith the RCTC 91 Express Lanes using a two-mile long mixing area, allowing vehiclesto use either or both sectionsofthe 91 138 ExpressLanes(Chart 43). The RCTC 91 Express Lanes continue approximately eight milesto the I- 15 interchange in Riverside County. A two-lane (one lane in each direction) direct tolled connector approximating 2.8 milesprovidesthe RCTC 91 ExpressLaneswith access/egressto 1-15 south of the SR91/I-15 interchange. The Commission hasthe authority to charge tollson the RCTC 91 Express Lanesfor 50 yearsthrough March 2067, based on a 1FA between the Commission and Caltrans. Chart43—RC1C 91 Express Lanes Exit at County Line far destinations in RiversideCountr • Green River Rd • Maple SvW6thSt • SR-71 • Lincoln St • SerlusClubDr • Main Si Exit at County Line for destinations in Orange County: • Gypsum Canyon Rd • 24 t Toll Road • Weir CanyonRdlyorba LindaRHd • Imperial' Hwy • talaeview Ave RIVERSIDE COUNTY Legend Existing 91 Express Lanes ■ 91 Express Lanes Extension County Line Entry/Exit Tone (j Carpool Verification Point 91 Express Lanes Entry/Exit Pants and Prke Signs {Posted price is for the entire hip, sr ra rib Ave OCTA owns and operates the Orange County portion of the 91 Express Lanes. Under a cooperative agreement, the Commission and OCTA use the same operator for the back office and customer service center operations of the 91 Express Lanes. The Toll Operations Center and administrative offices are located in Anaheim and the Customer Service Center in Corona. The joint operation of the 91 Express Lanes provides for cost sharing and a seamless customer experience. Staff coordinatesongoing joint 91 ExpressLanesmarketing effortswith OCTA. In July 2019, a contractor completed the installation of new roadside toll equipment to allow for interfacility trip pricing between the RCTC 91 ExpressLanesand 15 ExpressLanes. Additionally, the new equipment complied with the Slate's requirement to transition to 6c toll transponder technology. This contractor provides maintenance of the roadside toll system for the RCTC 91 Express Lanes. While the Commission and OCTA jointly operate and maintain the 91 Express Lanes, tollsforeach of the RCTC 91 Express Lanes and the OCTA 91 Express Lanes are charged independently and reported separately. In connection with an agreement between the Commission, OCTA, and a mastercustodian, tollsrelated to the RCTC 91 ExpressLanesand the Commission'sportion of non - toll revenues are deposited with the Commission's trustee into the trust estate for the RCTC 91 Express Lanes. The Commission uses these revenues to pay for operation and maintenance expensesand debt service aswell asfund repair and rehabilitation reserves. 15 ExpressLanes After securing the financing in July 2017, the Commission commenced design and construction of the 1-15 Express Lanes project (Chart 44) along the 1-15 corridor from Cajalco Road to State Route (SR) 60, approximately 15 miles, by adding one to two tolled expresslanesin each direction. A component of the project includesacquisition and development of a toll Regional Operations Center located in Corona for the 15 Express Lanes back office support, Toll Operations Center, and Customer Service Center. Under a design -build contract awarded by the Commission in March 2020, an expresslanesconnectorwill connect the RCTC 91 ExpressLanesto the 15 Express Lanesnorth of the 15/91 interchange. The Commission anticipatesopening of the 15 ExpressLanes 139 in late 2020. When the 15/91 Express Lanes connector opens in 2023, the daily operations and maintenance and related costswill become part of the 15 ExpressLanesand the responsibility of the Toll OperationsDepartment. lhe 1-15 ExpressLanesand 15/91 ExpressLanesconnectorprojects are included in the Capital Project Development and Delivery Department budget. Smilarto the RCTC 91 Express Lanes, the Commission hasthe authority to charge tollson the 15 Express Lanes for50 yearsafteropening based on a TFA between the Commission and Caltrans. Chart44-15 Express Lanes LEGEND Express Lanes > Express Lane Ingress Ow Express Lane Egress apress Lane Ingress/Egress r� Tolling Point HZ 1!FAL* CO 010413 CO ❑•■ Can[uGa11Bel o Rance Re. • Jurupa Valley Limonite Ave. 1• Eastvale Riverside • Seeene St • Norco Medan Va16y PtWy. Magnela Ave. 011tatlo Ave.c= ' The 15 Express Lanes operator will provide its back office, customer service, and roadside toll system operations from the Regional Operations Center in Corona. Tolls and non -toll revenues related to the 15 ExpressLaneswill be deposited with the Commission'strustee into the trust estate for the 15 Express Lanes. The Commission will use these revenues to pay for operation and maintenance expensesand debt service aswell asfund repairand rehabilitation reserves. Future Express LanesFacilities The Commission is jointly developing with OCTA and the Transportation Corridor Agencies the 241/91 Express Lanes Connector. This future facility will provide a direct connection to and from the median of the 91 ExpressLanesto the SR241 toll road. In 2019, the three agenciesapproved a term sheet that set forth key areas of agreement for this facility including the responsibility for the 91 ExpressLanesto be the day-to-day operator. When this facility opens, the daily operations and maintenance and related costs will become part of the 91 Express Lanes and the joint responsibility of OCTA and the RCTC Toll Operations Department. 140 Sate and Regional Toll Efforts Toll Operations is also working on several important efforts related to tolling. The Commission is coordinating with 8$CTA regarding its development of express lanes on the 1-15 corridor that commence nearthe vicinity of the Riverside/San Bernardino County line to the north. The Commission isa member of and staff isactively involved in the CTOC, which addreryrsmany statewide toll issues including toll technology to improve the customer experience across the state, create synergy among toll agencies, improve legislation related to tolling, and comply with State'sTitle 21 transition to new 6c transpondertechnology. Cash Flows from Toll Operations The Commission pledged toll revenues as security for the toll -supported debt for the RCTC 91 Express Lanes and 15 Express Lanes. Information regarding toll debt is included in Fund Budgets/Enterprise Fund discussion. For FY2020/21, the Commission will deposit approximately $13.3 million, to the extent available, to the RCTC 91 Express Lanes repair and rehabilitation fund. Toll Operations expenditures include $9,316,900 for major repair and rehabilitation expensespermitted underthe master indenture. For the fourth full year of operations, the RCTC 91 Express Lanes Engineer's Technical Report projected operations and maintenance costs of approximately $15.8 million, whereas the FY 2020/21 budget isapproximately $18.2 million, including an internal administrative cost allocation. The FY2020/21 costsbudget amount is$2.4 million, or14.8%above the Engineer'sTechnical Report projection. In accordance with the 2013 T1RA Loan agreement, the following expenses account forthe portion over10%, asallowed underthe agreement. The Commission determined that these costsare necessary and permitted. • Higher credit card fees related to toll transactionsthan originally estimated; • Additional legal costsrelated to unanticipated litigation; and • Increased FPcostsrelated to incident management and response, including towing. For FY2020/21, the Commission isnot required to deposit anyfundsto the 15 Express Lanes repair and rehabilitation fund and anticipatesno major repair and rehabilitation expenses. For its first year of operations, the 15 Express Lanes Engineer's Technical Report projected operationsand maintenance costsof approximately $14.5 million, whereasthe FY2020/21 budget isapproximately $16.1 million. The FY2020/21 budgeted costsare $1.6 million, or 10.9%above the Engineer's Technical Report projection. In accordance with the 2017 T1F1A Loan agreement, the budgeted expenses over 10%, as allowed under the agreement, primarily related to toll management consultant coststhat are considered necessary and permitted. The projected cash flows for the RCTC 91 Express Lanes and the 15 Express Lanes for the year ending June 30, 2021 are presented in Table 52. The cash balances at June 30, 2021 include surplustoll revenues. 141 Table 52—RCTC 91 Express Lanesand 15 Express Lanes Projected Cash Flows FY 2020/ 21 Cash balance at July 1, 2020, asprojected Cash flows from operating activities Sourcesof operating funds: Toll revenue Non -toll revenue Total sourcesof operating funds Usesoffundsforoperationsand maintenance: 93lariesand benefits Professional costs Support and maintenance costs Projectsand operations Capital outlay Administrative allocation to General fund Total usesoffundsforoperationsand maintenance Net cash provided by operations RCTC 91 Express Lanes 15 Express Lanes $ 125,656,300 $ 25, 247, 900 2,957,100 12, 082, 000 2,146,400 28, 205, 000 14,228,400 645,300 3,102, 000 4,284,700 8,801,800 305,000 1,025,300 461,200 2,400,300 3,353,000 9,561,000 10,000 344,900 18,164,100 16,130,400 10,040,900 (1,902,000) Cash flows from non -capital financing activities Repair and rehabilitation costs (9,316,900) - Use of surplusfor development of 241/91 connector agreements (1,200,000) - Draw on ramp up reserve - 1,902,000 Net cash provided by (used for) non -capital financing activities (10,516,900) 1,902,000 Cash flows from capital and related financing activities Proceedsfrom 2020 Refunding Bonds, including premium 667,528,000 Payment to escrow agent for refunded bonds (147,488,000) Payment to U.S DOTto repay 2013 TIFIA Loan (484,571,600) Costsof issuance paid in connection with 2020 Refunding Bonds (3,887,000) Interest paid on 2020 Refunding Bonds (11,252,000) Interest paid on 2013 Toll Bonds (7,119,900) Net cash provided by capital and related financing activities 13,209,500 Cash flowsfrom investing activities Interest on investments 691,900 Net cash provided by investing activities 691,900 Net increase in cash Cash balance at June 30, 2021, asprojected Department Goals 13, 425, 400 $ 139,081,700 $ TO1 — Provide effective communication of project progress and toll operations to the Board members, city councils, County Board of SLpervisors, Caltrans, CTC, Federal Highway Administration, 11RA, and bondholders. (Policy Goal: Operational Excellence) 1D2 — Focus on timely and effective completion of toll -related capital projects and implementation of needed transportation services. (Policy GoalsQuality of Life, Connecting the Economy, Responsible Partner) 142 TO3 — Sapport regional transportation solutions in cooperation with toll operators in surrounding counties that are of benefit to Riverside County. (Policy GoalsQuality of Life, Operational Excellence, Responsible Partner) ID Toll Operations Performance Measures and Results FY18/19 Estimated FY18/19 Actuals FY19/20 Estimated FY20/21 Projected 101 Toll transactions 14,490,100 15,143,222 15,788,000 26,700,000 101 Toll revenues $40,187,000 $49,885,288 $44,362,300 $37,836,400 701 Non -toll revenues, excluding investment income $7,569,900 $8,538,672 $5,259,700 $4,422,500 143 Appendix A — Glossary of Acronyms AB Armmbly Bill A1P Active Transportation Program BABs Build America Bonds Bechtel — Bechtel Infrastructure BNSF — BNSFRailway Board — Board of Commissioners for the Riverside County Transportation Commission CAFR — Comprehensive Annual Financial Report California — State of California CaIPERS — California Public Employees Retirement System CaISTA — California State Transportation Agency Caltrans — California Department of Transportation Capital Projects — Capital Projects Development and Delivery, a RC1C department CARESAct — CoronavirusAid, Relief, and Economic curity Act enacted in March 2020 to support the federal govemment'sresponse and help businesscsand individualsin regard to COVID-19 CC1V — Closed -Circuit Television CD1FA — California Department of Tax and Fee Administration CEQA — California Environmental Quality Act CETAP — Community Environmental Transportation Acceptability Process CFAC California Freight Advisory Committee CHSRA California High Speed Rail Authority CIP — Capital Improvement Plan CMA — Congestion Management Agency CMAQ — Congestion Mitigation and AirQuality CMP — Congestion Management Program Commission — Riverside County Transportation Commission County — County of Riverside CSTAC — Citizensand Specialized Transit Advisory Council C1C — California Transportation Commission C1OC — California Toll OperatorsCommittee CVAG — Coachella Valley Association of Governments DBE — Disadvantaged Business Enterprise District — Riverside County Regional Park and Open Space District ERP — Enterprise Resource Planning FASTAct — Fixing America'sSjrface Transportation Act Fitch — Fitch Ratings FRA — Federal Railroad Administration FSP — Freeway Service Patrol FTA — Federal Transit Administration FIE — Full-time Equivalent F11P — Federal Transportation Improvement Program FY — Fiscal Year Gann — Gann Initiative approved by California voters in 1979 GFOA — Govemment Finance OfficersAssociation GHG — Greenhouse Gas HOV — High Occupancy Vehicle (Carpool Lane) HSIPR — High Speed Intercity PasecngerRail I — Interstate IECommuter — Inland Empire Commuterrideshare system IEOC — Inland Empire —Orange County Metrolink Service 144 Inland Empire — Region covering Riverside and San Bernardino counties LCTOP — Low Carbon Transit Operations Programs Limited Tax Bonds — Indebtednesssecured by a specified tax or group of taxes LOSSA N — LosAngeles-San Diego -San LuisObispo, a rail corridor LPP — Local Partnership Program, an SB 1 funding category Lklb — Long Range Transportation Study LTF — Local Transportation Fund MAAC MemberAgency Advisory Committee MARA — 2009 Measure A Regional Arterial funding for Western County MCP — Mid County Parkway Measure K — Increase of salestax revenue bondsdebt limit to $975 million approved byvotersin November2010 Metrolink — Operating name forSCRRA (see RRA) MOE — Maintenance of Effort Moody's — Moody'sInvestorsService MOU — Memorandum of Understanding MPO — Metropolitan Planning Organization MSHCP — Multi -Species Habitat Conservation Plan MSC — Mobile Source Air Pollution Reduction Review Committee (AB2766) NEPA — National Environmental Policy Act OCTA — Orange County Transportation Authority PPM — Planning, Programming, and Monitoring PVL — Perris Valley Line Metrolink Extension Project RCTC — Riverside County Transportation Commission RCTC 91 Express Lanes — Express lanes on SR-91 from the Orange County line to 1-15 owned and operated by the Commission RDOCC — Riverside Downtown OperationsControl Center RIP — Regional Improvement Program RTA — Riverside Transit Agency RIP — Regional Transportation Plan R1PA — Regional Transportation Planning Agencies RZEDBs — Recovery Zone Economic Development Bonds S&P — S&P Global Ratings SAFE — Service Authority for Freeway Emergencies Salestax — Reference including transaction and use tax such as Measure A SB — Senate Bill SB 1 — Road and Repair Accountability Act of 2017, state legislation that increased state gas tax for transportation purposesand wassigned by the Governor in April 2017 SB 132 — Sate appropriation approved in April 2017 that provides $427 million in funding for five Riverside County Transportation Efficiency Corridor projects S3743 — State legislation that created a process that changes how transportation impactsare analyzed underCEQA S3821 — State legislation that provides funding for bicycle and pedestrian projectsthrough the TDA SBCTA — San Bernardino County Transportation Authority SBE — Small BusinessEnterprise SC AG — Southern Califomia Association of Governments SCRRA — Southern Califomia Regional Rail Authority SCS — Sustainable CommunitiesStrategy SDP — Service Development Plan 145 SG R SHO PP SJBL SR SRA SRTP STA State STBG S11P SunLine TAP TCEP TDA TDM 1FA TIRA T1P 1UMF U.S. DOT UC R VanClub Western County WRCOG 15 ExpressLanes 91 COP 91 ExpressLanes 91 Project 1989 Measure A 2009 Measure A 2010B Bonds 2013 SalesTax Bonds 201311RA Loan 2013 Toll Bonds 2016 Refunding Bonds 2017A Bonds 2017BRefunding Bonds - State of Good Repair(SB 1 Program) - State Highway Operationsand Protection Program - San Jacinto Branch Line - State Route - State Rail Account — Short Range Transit Plan State Transit Assistance State of California - Surface Transportation Block Grant - State Transportation Improvement Program - SunLine Transit Agency - Transportation AlternativesProgram - Trade Corridor Enhancement Program - Transportation Development Act - Transportation Demand Management - Toll Facility Agreement — Transportation Infrastructure Finance and Innovation Act Transportation Improvement Plan — Transportation/Traffic Uniform Mitigation Fee (Western County/Coachella Valley) - United SatesDepartment of Transportation - University of Califomia at Riverside - RCTC'svanpool subsidy program - Western area of Riverside County - Western Riverside Council of Governments - Express lanes on 1-15 in Riverside County from SR60 to Cajalco Road in Corona owned and operated by the Commission — 91 Corridor Operations Project — Tolled expresslaneson SR-91 in Orange County operated by OCTA (OCTA 91 Express Lanes) and in Riverside County by the Commission (RC1C 91 ExpressLanes) - SR-91 corridor improvement project consisting of two tolled express lanes in each direction of SR91 between the Orange County line and 1-15 and a direct connector, the addition ofa general purpose lane between SR71 and 1-15, and other improvements - Original 1/2 cent transportation salestaxmeasure approved by voters in November 1988 that expired in June 2009 Extension of sales tax measure approved by voters in November2002which became effective upon expiration of original salestaxmeasure on July 1, 2009fora 30-yearperiod - Sales Tax Revenue Bonds, Series B Taxable issued in November2010 - SalesTaxRevenue Bondsissued in July 2013forthe 91 Project - 11RA Loan executed in July 2013 forthe 91 Project - Toll Revenue Bondsissued in July 2013 forthe 91 Project - Sales Tax Revenue Refunding Bonds issued in September 2016 to refund the SeriesA portion of bonds issued in 2009 - Sales Tax Revenue Bonds issued in July 2017 for the 1-15 ExpressLanesproject and completion of the 91 Project - Sales Tax Revenue Refunding Bonds issued in December 2017 to refund all of the outstanding 2010A Bonds and a portion of the 2013 SalesTax Bonds 146 201711RA Loan — 11RA Loan executed in July 2017 for the 1-15 Express Lanes project 2018 Refunding Bonds — Sales Tax Revenue Refunding Bonds issued in April 2018 to refund all of the SeriesBand SeriesC bondsissued in 2009 2020 Refunding Bonds — RC1C 91 Express Lanes senior and second lien toll revenue bondsapproved by the Commission in March 2020to refund 2013 Toll Bonds (current interest bonds) and 201311RA Loan; the marketing and sale of the bondswassuspended due to the COVID-19 crisisand related market disruption 147 Appendix B-Salary Schedule Effective 7/2/2020 Department Range Monthly Monthly Exempt / FIE No. Minimum Maximum Non -Exempt ADM IN ISTRATIO N Administrative ServicesManager/Clerk of the Board 1 51 $ 9,774 $ 13,195 E Deputy Clerk of the Board 1 32 $ 6,147 $ 8,298 NE Human ResourcesAdministrator 1 45 $ 8,443 $ 11,398 E 1 ITAdministrator 1 45 $ 8,443 $ 11,398 E RecordsTechnician 1 17 $ 4,264 $ 5,757 NE Senior Administrative Assistant 2 25 $ 5,183 $ 6,997 NE Senior Office Assistant 1 13 $ 3,868 $ 5,222 NE Administration Ribtotal 8 CAPITAL PROJECTDEVELOPMENTAND DELIVERY 1 Capital ProjectsManager 5 53 $ 10,263 $ 13,855 E FacilitiesAdministrator 1 45 $ 8,443 $ 11,398 E Project Delivery Director 1 67 $ 14,441 $ 19,495 E Fight of Way Manager 1 53 $ 10,263 $ 13,855 E Senior Management Analyst 3 43 $ 8,041 $ 10,855 E Capital Project Development and Deliery Subtotal 11 EXECUTIVE MANAG EM ENT Deputy Executive Director 1 75 $ 17,553 $ 23,696 E Executive Director 1 83 $ 21,335 $ 28,803 E Executive Management Subtotal 2 RNANCE Accountant 1 33 $ 6,300 $ 8,505 E Accounting Assistant 2 17 $ 4,264 $ 5,757 NE Accounting Supervisor 1 44 $ 8,237 $ 11,120 E Accounting Technician 2 25 $ 5,183 $ 6,997 NE Chief Financial Officer 1 67 $ 14,441 $ 19,495 E Deputy Director of Finance 1 57 $ 11,315 $ 15,275 E Rnancial Analyst 1 35 $ 6,615 $ 8,931 E Procurement Manager 1 53 $ 10,263 $ 13,855 E SeniorRnancialAnalyst 1 43 $ 8,041 $ 10,855 E Senior Procurement Analyst 1 43 $ 8,041 $ 10,855 E Finance Subtotal 12 EXTERNAL AFFAIRS Extema I Affairs Director 1 63 $ 13,098 $ 17,682 E Legislative AffairsManager 1 51 $ 9,774 $ 13,195 E Public AffairsManager 1 51 $ 9,774 $ 13,195 E SeniorManagement Analyst 1 43 $ 8,041 $ 10,855 E External Affairs Subtotal 4 MULTIMODAL SERVICES Commuter and Motorist Assistance Manager 1 51 $ 9,774 $ 13,195 E SeniorManagement Analyst 2 43 $ 8,041 $ 10,855 E Multimodal ServicesDirector 1 63 $ 13,098 $ 17,682 E Transit Manager 1 51 $ 9,774 $ 13,195 E Multimodal ServicesaJbtotal 5 PLANNING AND PROGRAMMING uff:VICES 1 Planning and Programming Director 1 63 $ 13,098 $ 17,682 E Planning and Programming Manager 1 51 $ 9,774 $ 13,195 E SeniorManagement Analyst 2 43 $ 8,041 $ 10,855 E Planning and Programming ServicesSJbtotal 4 RAIL MAINTENANCEAND OPERATIONS Rail Manager 1 51 $ 9,774 $ 13,195 E Management Analyst 1 35 $ 6,615 $ 8,931 E Rail Maintenance and OperationsSubtotal 2 TOLL OPERATIONS SeniorManagement Analyst 2 43 $ 8,041 $ 10,855 E Toll OperationsManager 1 63 $ 13,098 $ 17,682 E Toll Program Director 1 71 $ 15,921 $ 21,493 E Toll Project Manager 1 65 $ 13,753 $ 18,566 E Toll Technology Manager 1 53 $ 10,263 $ 13,855 E Toll OperationsSubtotal 6 Tota I Authorized Positions Administration Capital Project Development and Delivery Executive Management Finance Exte m a l Affa irs Multimodal Services Planning and Programming Services Rail Maintenance and Operations Toll Operations Tota I Authorized Positions 8 11 2 12 4 5 4 2 6 54 'The FY2020/21 budget includesthe funding for50 FIE The unbudgeted and unfilled positions includ e two Capital Projects Managers, ITAdministrator, and Planning ana48gramming Director. Appendix B — FY 2020/21 Organization Chart Human Resources Administrator Board of Commissioners Legal Counsel Deputy Executive Director Administrative Services Manager/ Clerk of the Board Deputy Clerk of the Board ITAdministrator 7— Records Technician Senior Administrative Assistant (2) niorOffice Assistant L Chief Fna ncia I Officer Deputy Director of Finance Senior Financial Accounting Analyst L8ipeir Financial Analyst d LAc Technician Accountant Accounting Technician Accounting Assista nt(2) iimProcurement Manager LSenior Procurement Analyst Unbudgeted and unfilled positions Planning and Programming Director Planning and Programming Manager nior Management Analyst &nior Management Analyst Multimodal Services Director LRail Manager Management Analyst Transit Manager nior Management Analyst External Affairs Director Public Affairs Manager &nior Management Analyst Commuter an Motorist Assistance Manager Senior Management Analyst Legislative Affairs Manager IReclassificationspending Executive Committee approval Project Delivery Director Capital Project Manager (2) Capital Project Manager (2) Right of Way Manager L Senior Management Analyst (3) - Facilities Administrator 71Io72•Tr.T Director Capital Project Manager Toll Project Manager Toll Operations Manager ■ Toll Technology Manager L J Senior Management Analyst (2) 149 PRO POSED BUDGEF FISCAL YEAR 2020/ 21 Theresia Trevino, Chief Financial Officer FY2020121 Budget Considerations COVID-19 Impacts • Salestax revenues • TUM F • Toll transactionsand revenues RCTC projectsand programs • Use of accumulated reservesforprojectsand programs, as necessary • Flexibility to change scope and timing of capital projects • 5lgnificant outsourcing of engineering and operations Financing needsand related costs • Final 11FIA loan drawdown on 1-15 ExpressLanesproject • Resume refinancing of 91 Express Lanestoll debt Budget Summary Beginning Fund Balance Total Estimated Revenues/Sources 1,502,348,200 Revenues Debt Proceeds Transfers In $609,849,200 714, 899, 900 177, 599,100 Total Estimated Expenditures/Expenses/Uses (1,616,661,900) Expenditures/Expenses Debt Service Transfers Out $716,228,900 722,833,900 177,599,100 Revenues/Sourcesunder Expenditures/Expenses/Uses (114,313,700) Ending Fund Balance FY 2020/ 21 RevenueslSources C om pa rison FY 2018/ 19 Actual FY 2019/ 20 Revised Budget FY 2019/ 20 Projected FY 2020/ 21 Budget Percent Change Measure A SalesTax L1FSalesTax SR SalesTax Federal reimbursements Gate reimbursements Local reimbursements IUMF Tolls, Penalties, and Fees Other revenues Investment income Total Revenues Debt proceeds 11F1A loan proceeds Transfers in Total Revenues/Sources $ 201,205,000 103,819,400 27,201,800 67,752,600 64,007,900 6,933,900 29,968,500 58,423,500 6,264,700 23,050,800 $ 178, 000, 000 91,000,000 31,050,600 89,718,700 160,896,100 9,858,900 17,240,000 67,201,100 652,000 9,500,000 $ 178,000,000 91,000,000 28,697,900 42,514,800 123,494,700 3,835,700 17,240,000 49,622,000 653,700 10,741,400 588,628,100 655,117,400 545,800,200 14,946,100 139,401,800 $ 742, 976, 000 $ 665,392,400 75, 703, 000 166, 746, 000 89,896,000 167,757,300 1,562,958,800 $ 803,453,500 $ 160,000,000 82,000,000 28,656,900 103,695,200 155, 006,100 18, 565,100 15,500,000 42,258,900 621,500 3,545,500 609, 849, 200 667,528,000 47, 371, 900 177, 599,100 $ 1,502,348,200 - 10% - 10% - 8% 16% - 4% 88% - 10% - 37% -5% - 63% 0% - 37% 7% - 4% $800 $700 $600 $500 $400 $300 $200 $100 $- Sources Comparison 1 tea% �a1 �a� `a� J0 005 J0 �0 �\(` 067 �0S �05 �05 0� ,0� d� ,0� 00 �s0� 00 Sa Sa sa .< �- a�' �- \ �a� e JtoP \, SAP ��0,0 �J�� �05 , c\ �ok �� �4' as �o �a�� O os� O �o �� SQO \� id FY 2019/20 Revised .\o Budget bid FY2019/20 Projected 1:1FY2020/21 Budget tIF &immary of Expenditures, Expenses, and Uses by Function FY 2018/ 19 Actual FY 2019/ 20 Revised Budget FY 2019/ 20 Projected FY 2020/ 21 Percentage of Budget Function Personnel Professional Support Projectsand operations Capital outlay Debt service Total Expenditures/Expenses Transfers out Total Expenditures/Expenses/Uses 9,343,000 11, 735, 900 7,996,400 440,970,400 6,704,800 76,693,100 553,443,600 139,401,800 $ 19,902,500 28,173, 300 14, 313,100 753,951,700 6,518,800 706, 924, 000 1,529,783,400 166, 746, 000 $ 19,901,900 15, 951, 000 11, 065, 600 575, 805, 600 4,660,000 76,654,400 704, 038, 500 167, 757, 300 $ 692,845,400 $ 1,696,529,400 $ 871,795,800 $ 10,932,000 21,975,400 17, 748, 000 659, 609, 700 5,963,800 722, 833, 900 1,439,062,800 177, 599,100 $ 1,616,661,900 89% 11% 100% Summary of Expenditures, Expenses, and Uses by Department FY 2020/ 21 Budget Percentage of Uses Management Services Regional Programs Capital Project Development and Delivery Toll Operations Debt Service TransfersOut Total Expenditures, Expenses, and Uses $ 11, 822, 500 173,147, 500 486, 814,100 44,444,800 722, 833, 900 177, 599,100 $ 1,616,661,900 3% 45% 11% 100% Management Services Expendituresl Uses FY2018/19 FY2019/20 FY2019/20 FY2020/21 Actual Revised Budget Projecte • Budget Executive Management Administration External Affairs Finance Debt Service Total Expenditures Transfers0ut Total Management Services Executive Management $ 607,700 $ 2,712,600 2,204,100 2,948,600 17,500 773,700 $ 4,120,800 3,265,900 6,177,000 989,800 3,505,100 4,960,800 5,118,400 8,490,500 11,197,100 14,337,400 10,087,900 14, 574,100 10, 087, 900 $ 19,687,600 $ 24,425,300 $ 24,662,000 Administration $ 644,800 3,572,700 2,096,000 5,509,000 11,822,500 10,007,700 $ 21,830,200 Asg External Affairs Finance 30% 18% 47% • 4 and Operations Regional ProgramsExpenditures(Uses FY 2018/ 19 c to FY 2019/ 20 Revised Budget FY 2019/ 20 Projecte FY 2020/ 21 Budget Planning and Programming Services Rail Maintenance and Operations Public and jecialized Transit Commuter Assistance M oto rist Assistance Total Expenditures Transfers Out Total Regional Programs Rail Maintenance Public and !ir Specialized Transit $ 3,959,600 27, 563, 900 119, 602, 800 3,370,200 4,178,400 $ 13,598,500 45,302,500 163,125,200 4,686,900 6,641,500 $ 7,760,700 39, 046, 500 143, 008, 900 3,976,700 4,757,700 $ 7,198, 500 54,328,400 100,332,100 4,936,800 6,351,700 158,674,900 34,275,900 $ 192,950,800 233,354,600 39,252,500 $ 272,607,100 198, 550, 500 37, 578, 600 $ 236,129,100 173,147, 500 25,469,100 198, 616, 600 31% 1116 58% Commuter Assistance Jr - Motorist Assistance r Capital Project Development & Delivery Expenditures/ Use s FY 2018/ 19 Actual FY 2019/ 20 FY 2019/ 20 Revised Budget Projected FY 2020/ 21 Budget Percentage of Expenditures / Uses Salariesand benefits Professional costs Support costs Projects and operations: Program operations Engineering Construction Design build Right of way and land Local streetsand roads Regional arterials Other (special studies/operating & capital disbursements) Capital outlay Debt service Total Expenditures Transfers out Total Capital Project Development & Delivery $ 3,265,200 $ 4,416,400 691,300 7,346,700 $ 7,498,100 1,894,900 5,652,600 10, 370, 500 13,111,500 23,271,000 53,145,600 148,302,100 107, 589, 300 158, 341, 500 19,710,500 92,508,500 61,069,300 54,061,300 19,203,900 30,967,000 3,972,000 15,001,800 4,995,900 4,293,500 69,555,700 69,537,500 7,339,100 3,537,100 918,400 6,761,300 20,945,500 106,029,600 135,100,000 34,220,500 54,061,300 25,000,000 831,600 3,597,000 69,534,500 366,379,200 89,619,700 623,394,400 114,346,100 467,875,900 117, 551,100 $ 455,998,900 $ 737,740,500 $ 585,427,000 $ 3,121,600 4,026,700 2,089,400 7,592,400 26,225,000 201,788,200 100,621,100 58,233,600 48,479,100 30,000,000 850,000 3,787,000 69,519,000 556,333,100 140,752,100 $ 697,085,200 0% 1% 0% 1% 4% 29% 14% 8% 7% 80% 20% 100% Capital Project Highlights 91 Corridor Operations Project 1-15 Exp re ss La n e s 15/91 ExpressLanesConnector Mid County Parkway I-215/Placentia interchange SR-60 Truck Lanes I-15/Railroad Canyon Interchange Pachappa Underpass Toll Operations RC1C 91 Express Lanes 15 Express Lanes Total FY 2019/ 20 FY 2020/ 21 FY 2019/ 20 FY 2020/ 21 FY 2020/ 21 Projected Budget Projected Budget Budge Sources Federal Reimbursements Tolls, Penalties, and Fees Other Revenue Investment Income Transfers In Debt Proceeds $ 49,622,000 28,205,000 2,011,100 691,900 667,528,000 $ 78,000 14,053,900 96,500 1,902,000 Total So u rc e s 51,633,100 696,424,900 Expenses/Uses Personnel Salariesand Benefits 846,200 663,200 Pro fe ssio n a l Se ry ices 2,458,300 6,165,600 S p p o rt Costs 3,450,700 4,284,700 Program Operations 8,736,900 17,240,800 Capital Outlay 426,000 305,000 Debt Service 7,119,900 653,314,900 Tra nsfe rs Out 2,539,700 1,025,300 Total Expenses/Uses 25,577,700 682,999,500 Excess(deficiency)of revenuesover(under) expenses/usesand otherfinancing sources (uses) 26,055,400 13,425,400 Beginning Fund Balance 99,600,900 125,656,300 Ending Fund Balance $ 125,656,300 $ 139,081,700 $ $ 16,130,400 461,200 2,400,300 3,353,000 9,561,000 10,000 344,900 16,130,400 $ 78,000 42,258,900 96,500 691,900 1,902,000 667,528,000 712,555,300 1,124,400 8,565,900 7,637,700 26,801,800 315,000 653, 314, 900 1,370,200 699,129,900 13,425,400 125,656,300 $ 139,081,700 Measure A Administrative Costs FY 2020/21 Budget Benefits, Salaries and 0.87% Administrative Costs, 1.54% Conduct public hearing Authorization and adoption Continue monitoring Next Steps • Review the final budget document • Conduct the public hearing • Approve salary schedule effective 7/2/20 • Adopt Proposed FY2020/21 Budget • Approve use of surplusfor 241/91 connector efforts • Post-COVID-19 salestax, IUMF, and toll revenue trends • Measure A administrative salariesand benefits • Timelinessof federal and state reimbursements • Funding needsforprojectsand programs 1 AGENDA ITEM 6 PUBLIC HEARING RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: June 10, 2020 TO: Riverside County Transportation Commission FROM: Toll Policy and Operations Committee Jennifer Crosson, Toll Operations Manager THROUGH: Anne Mayer, Executive Director SUBJECT: 15 Express Lanes Toll Schedule Adoption TOLL POLICY AND OPERATIONS COMMITTEE AND STAFF RECOMMENDATION: This item is for the Commission to: 1) Approve Resolution No. 20-008, "Resolution of the Riverside County Transportation Commission Adopting the 15 Express Lanes Toll Schedule" and 2) Forward to the Commission to conduct a public hearing at its June 10, 2020 meeting and take final action. BACKGROUND INFORMATION AND DISCUSSION: The authorizing legislation for the 15 Express Lanes, Streets and Highways Code section 149.8 (c) (4) requires the Commission to make available for public review and comment a proposed toll schedule. In addition, Government Code section 66018, part of the Mitigation Fee Act, requires that prior to approving a resolution which adopts a new fee, a public hearing shall be held as a part of a regularly scheduled meeting. Notice of the time and place of the meeting, including a general explanation of the matter to be considered, shall be published in accordance with Section 6062a. To comply with Streets and Highways Code section 149.8 (c)(4), public notice of the proposed toll schedule was published on the Commission's web site on May 10th for public review and comment 30 days in advance of the June 10, 2020 Commission meeting. To comply with Government Code section 66018, Resolution No. 20-008 "Resolution of Riverside County Transportation Commission Adopting the 15 Express Lanes Toll Schedule" has been prepared for Commission approval and a noticed public hearing will be conducted at its June 10, 2020 meeting. Staff is seeking approval of the proposed resolution that adopts the toll schedule and to forward to the Commission for their approval and to conduct a public hearing. In June 2016, the Commission adopted Resolution No. 16-011, "Resolution of the Riverside County Transportation Commission Regarding Interstate 15 Express Lanes Toll Policy Goals and Toll Policies". In March 2019, the Commission adopted Resolution No. 19-003, "Resolution of the Riverside County Transportation Commission Adopting the Amended and Restated Interstate 15 Agenda Item 6 150 Express Lanes Toll Policy Goals and Toll Policies", which included a revision to the zero -emission vehicle policy. The Amended and Restated Interstate 15 Express Lanes Toll Policy Goals and Toll Policies (adopted March 2019) is Attachment 3 to this report. The adopted 15 Express Lanes Toll Policy Goals and Toll Policies includes toll policy number 19. Pursuant to toll policy 19, the Commission previously adopted the use of dynamic pricing as the method for determining the toll price for the 15 Express Lanes. As described in the previously - adopted 15 Express Lanes Toll Policy Goals and Toll Policies, dynamic pricing employs toll rates that vary in real-time based on actual travel conditions detected in the corridor. The use of dynamic pricing on the 15 Express Lanes will be essential to meeting the adopted 15 Express Lanes goals of providing customers with a safe, reliable, and congestion free trip; balancing commute choice and lane availability; and generating sufficient revenue to meet the Commission's financial obligations and fund long-term costs. Dynamic pricing is achieved with the use of a complex algorithm tailored for the 15 Express Lanes. The algorithm is being provided by the toll services provider, Kapsch, as a part of their scope of work. The algorithm has been customized for the 15 Express Lanes using assumptions from the traffic and revenue study and historical traffic data from Interstate 15, State Route 91, and the 91 Express Lanes. As the installation of the on -road traffic detection system progresses, Kapsch will continue to adjust the algorithm based on the data collected. A proposed resolution and toll schedule are included as Attachments 1 and 2, respectively. The toll schedule includes the following: principles and parameters used by the algorithm, minimum toll rate schedule, maximum toll information, the display of toll rates and abnormal traffic conditions and the suspension of tolling. A summary of each element of the toll schedule is provided below. Principles and Parameters The algorithm was established based on the following principles and parameters: 1. Set the price to achieve free flow speeds of 60-65 mph and exceed the federal minimum requirement of an average speed of 45 mph; 2. Consider traffic volume, density, travel speed, travel time, flow of traffic, and historical traffic patterns; 3. Establish a toll rate for each segment of the 15 Express Lanes; 4. The toll rate will change as frequently as needed to maintain desired traffic conditions, but not more frequently than every three minutes; and 5. The toll rate could in increments up to $3.00 per segment. Minimum Toll Rate The minimum toll rate will initially be 16.9 cents per mile. The minimum toll rate per mile was established based on assumptions used in the traffic and revenue study approved by the Agenda Item 6 151 Commission to support the 2017 financing of the 1-15 Express Lanes Project. The minimum toll rate per mile is multiplied by the mileage for each segment resulting in the minimum toll rate schedule for each segment as provided in figure 1 below. The 15 Express Lanes has four segments in each direction. If a customer travels the full length of the 15 Express Lanes, the minimum toll will be $1.75 and $1.70 in the southbound and northbound direction, respectively. The minimum toll rate allows for minimal tolling during off-peak periods to generate revenue to pay ongoing operation and maintenance costs of the express lanes. The minimum toll rate schedule will be adjusted annually on July 15t by an inflation adjustment tied to the CPI Index Adjuster for the region from January to December of the previous calendar year. Southbound SR 60 to Sixth St. Limonite Ave. to Second St. Sixth St. to Ontario Ave. Magnolia Ave. to Cajalco Rd. $0.30 $0.40 $0.50 $0.55 Total $1.75 Figure 1 Minimum Toll Rate Schedule Toll Rates Northbound Cajalco Rd. to Magnolia Ave. Ontario Ave. to Sixth St. Second St. to Limonite Ave. Sixth St. to SR 60 $0.35 $0.40 $0.50 $0.45 Total $1.70 Toll rates will be determined in real-time based on the level of traffic congestion and other factors consistent with Dynamic Pricing. There is no maximum toll rate. The 15 Express Lanes toll pricing objective adopted by the Commission seeks to "optimize person throughput in the corridor while meeting debt obligations". This policy balances throughput and revenue thereby providing the flexibility to better match lane supply with user demand. This flexibility in the maximum toll rate also supports the creditworthiness of the 15 Express Lanes and ensures the Commission's ability to meet its operating expense and debt obligations. Display of Toll Rates Toll rates will be posted on overhead signs in advance of each entrance to the express lanes. The overhead sign will name the destination and associated price. The signs will generally display the price to the first exit and to the next major exit. An example of an overhead toll rate sign is provided in figure 2. The toll system will capture traffic flow data to determine the amount of time it takes for a customer to travel from the toll rate sign to the toll point. Using that information, the toll system will charge the customer the toll rate they saw on the sign. If real-time communication of the toll rate on the sign is not functioning, a historical toll schedule stored in the sign will be displayed until communication is restored. The stored toll schedule will reflect the average toll for the specific time over the prior two weeks. Agenda Item 6 152 EXPRESS LANES F,as7iParc TO Sixth St TO ONLY $ 0.75 $ 2.70 Figure 2 Overhead Toll Rate Sign Abnormal Traffic Conditions and the Suspension of Tolling From time to time traffic volumes will vary significantly due to a holiday, incident, construction or other atypical occurrence. While the algorithm will adjust toll rates to changes in traffic conditions, it may not react quickly enough in abnormal traffic conditions. While operating the 91 Express Lanes over the past three years, temporary toll schedules have been utilized for holidays, fires, major accidents, the COVID 19 pandemic, and adjacent road closures. The 15 Express Lanes toll schedule allows for the implementation of a temporary toll schedule or to temporarily suspend tolling altogether should abnormal traffic conditions occur. The Executive Director, or designated staff, would implement such measures. The 15 Express Lanes will also have an incident management plan in place similar to the 91 Express Lanes which provides for the immediate identification of on -road incidents and a communication escalation plan. This plan allows for a consistent and quick reaction to unexpected incidents. Sample Peak Period Toll Schedule A recent toll rate simulation was performed by the toll services provider using the dynamic pricing algorithm created for the 15 Express Lanes and pre-COVID-19 traffic data. The simulation produced toll rates for each day of the week. A representative sample of peak -period tolls are shown in figure 3 using 2019 traffic data. The sample, peak -period toll schedule shows the likely highest toll rate in each hour by segment. In early fall 2020 and leading up to the express lanes opening, corridor traffic will be closely analyzed and the 15 Express Lanes dynamic pricing algorithm will be recalibrated based on then - current traffic data. Using the most current data, an updated, opening -day, toll rate schedule will be prepared for use. Agenda Item 6 153 At the opening and during the initial months of the 15 Express Lanes operation, toll rates produced by the dynamic pricing algorithm will be closely monitored by the toll services provider and staff. Deployments of dynamic pricing by other toll agencies across the state indicate that the dynamic pricing algorithm will require constant monitoring and adjustments in the initial months of operation while it collects data about motorist's reaction to pricing. AM Peak Period Southbound 5:00 6:00 7:00 8:00 SR 60 to Sixth St. $0.65 $0.75 $1.25 $0.65 Limonite Ave. to Second St. $0.35 $0.35 $0.35 $0.35 Sixth St. to Ontario Ave. $0.75 $0.75 $3.10 $2.65 Magnolia Ave. to Cajalco Rd. $0.40 $1.05 $2.10 $2.00 Total $2.15 $2.90 $6.80 $5.65 Northbound Cajalco-Magnolia $1.90 $2.75 $4.50 $2.35 Ontario -Sixth $2.40 $5.25 $6.00 $4.05 Second -Limonite $0.40 $1.60 $3.85 $2.80 Sixth-SR60 $0.55 $3.15 $3.95 $3.95 Total $5.25 $12.75 $18.30 $13.15 PM Peak Period Southbound 3:00 4:00 5:00 6:00 SR 60 to Sixth St. $2.65 $4.05 $4.55 $3.55 Limonite Ave. to Second St. $1.45 $1.85 $3.25 $3.10 Sixth St. to Ontario Ave. $1.85 $8.20 $8.50 $7.95 Magnolia Ave. to Cajalco Rd. $2.00 $5.50 $5.50 $1.90 Total $7.95 $19.60 $21.80 $16.50 Northbound Cajalco-Magnolia $0.50 $2.30 $2.95 $1.95 Ontario -Sixth $1.30 $2.15 $3.25 $2.50 Second -Limonite $0.75 $2.80 $4.10 $2.85 Sixth-SR60 $0.55 $1.15 $1.45 $0.75 Total $3.10 $8.40 $11.75 $8.05 Figure 3 Sample Peak Period Toll Schedule using 2019 Traffic Data Staff Recommendation The 15 Express Lanes toll schedule (Attachment 2) provides the basic parameters within which dynamic pricing will operate, a minimum toll rate schedule, policy for displaying the tolls and the ability to respond to abnormal traffic conditions or emergencies. The toll schedule has been posted allowing for the required public review and comment in advance of the 15 Express Lanes opening. Therefore, staff recommends approval of Resolution No. 20-008 "Resolution of the Riverside County Transportation Commission Adopting the 15 Express Lanes Toll Schedule" and forward to the Commission to conduct a public hearing at its June 10, 2020 meeting and take final action. Agenda Item 6 154 Attachments: 1) Resolution No. 20-008 "Resolution of the Riverside County Transportation Commission Adopting the 15 Express Lanes Toll Schedule" 2) 15 Express Lanes Toll Schedule 3) Amended and Restated Resolution of the Riverside County Transportation Commission Regarding Interstate 15 Express Lanes Toll Policy Goals and Toll Policies Approved by the Toll Policy and Operations Committee on May 28, 2020 In Favor: 7 Abstain: 0 No: 0 Agenda Item 6 155 ATTACHMENT 1 RESOLUTION NO. 20-008 RESOLUTION OF THE RIVERSIDE COUNTY TRANSPORTATION COMMISSION ADOPTING THE 15 EXPRESS LANES TOLL SCHEDULE WHEREAS, the Riverside County Transportation Commission (the "Commission") is preparing to operate the 15 Express Lanes. WHEREAS, the 15 Express Lanes Toll Policy Goals and Toll Policies, originally adopted by the Commission in June 2016, and as subsequently amended, provide for implementation of dynamic toll pricing on the 15 Express Lanes. WHEREAS, the Commission now desires to adopt the 15 Express Lanes toll schedule for dynamic pricing ("Toll Schedule"). WHEREAS, the Commission provided notice of a public hearing regarding adoption of this Resolution in a newspaper of general circulation in accordance with Government Code section 6062a. NOW, THEREFORE, be it resolved by the Riverside County Transportation Commission as follows: Section 1. The Riverside County Transportation Commission hereby adopts the Interstate 15 Express Lanes Toll Schedule attached as Exhibit A. The attached Toll Schedule has been approved by the Commission, following the conduct of a public hearing, and shall be communicated to the general public, toll facility users, and the financial community. APPROVED AND ADOPTED this 10th day of June, 2020. 156 RESOLUTION NO. 20-008 Ben J. Benoit, Chair Riverside County Transportation Commission ATTEST: Lisa Mobley Clerk of the Board 157 EXHIBIT A INTERSTATE 15 EXPRESS LANES TOLL SCHEDULE [attached behind this page] 158 ATTACHMENT 2 15 Express Lanes Toll Schedule Definitions Abnormal Traffic- when traffic volumes vary from those of a prior period due to a holiday, incident, construction or other atypical occurrence. Dynamic Pricing — The setting of a toll in real-time based on level of traffic congestion and other factors. Emergency — A national, state or local declared state of emergency or other emergency situation that impacts toll operations. Inflation Factor —The US Bureau of Labor Statistic's Consumer Price Index adjuster for the region from January to December of the previous calendar year that will be applied annually to the Minimum Toll Rate. Minimum Toll Rate — The lowest toll per mile that the Pricing Algorithm can assign. Pricing Algorithm - The methodology by which tolls are set that aims to manage demand for the express lanes by adjusting tolls using real-time and historic traffic data. Segment — A portion of the express lanes in which a customer can enter or exit and to which a single toll is assigned and published on the overhead sign. See Figure 1 for Segments. Segment Minimum Toll Rate — Established by multiplying the Minimum Toll Rate per mile by the number of miles in each segment and rounded up to the nearest $.05. Dynamic Pricing Principles and Parameters 1. The 15 Express Lanes will use Dynamic Pricing to set toll rates to typically achieve free - flow speeds of 60-65 mph and exceed the federal minimum requirement of 45 mph consistent with the 15 Express Lanes toll policy adopted by the Commission at its June 8, 2016 meeting. 2. A Pricing Algorithm which considers traffic volume, density, travel speed, travel time, flow of traffic, and historical traffic patterns will be used to determine the toll rate. 3. The Pricing Algorithm will establish a toll rate for each Segment making up the 15 Express Lanes. 4. The toll rate will change as frequently as needed to maintain desired traffic conditions, but not more frequently than every three minutes; and 5. The toll rate could change in increments up to $3.00 per Segment. 159 Minimum Toll Rates The Minimum Toll Rate will initially be 16.9 cents per mile. This rate was established in consultation with the Commission's Traffic and Revenue consultant and is consistent with the Traffic and Revenue assumptions used as part of the financing of the 1-15 Express Lanes Project. The Minimum Toll Rate will be adjusted annually, effective each July 1, by the Inflation Factor and rounded to the nearest 5 cents. When a toll rate is in effect it shall never be less than the Minimum Toll Rate. Initial Minimum Toll Rates for each Segment are provided below: Figure 1 Minimum Toll Rate Schedule Southbound SR 60 to Sixth St. Limonite Ave. to Second St. Sixth St. to Ontario Ave. Magnolia Ave. to Cajalco Rd. $0.30 $0.40 $0.50 $0.55 Total $1.75 Toll Rates Northbound Cajalco Rd. to Magnolia Ave. Ontario Ave. to Sixth St. Second St. to Limonite Ave. Sixth St. to SR 60 $0.35 $0.40 $0.50 $0.45 Total $1.70 Toll rates will be determined in real-time based on the level of traffic congestion and other factors consistent with Dynamic Pricing. There is no maximum toll rate. The 15 Express Lanes toll pricing objective adopted by the Commission seeks to "optimize person throughput in the corridor while meeting debt obligations". This policy balances throughput and revenue thereby providing the flexibility to better match lane supply with user demand. This flexibility in the maximum toll rate also supports the creditworthiness of the 15 Express Lanes and ensures the Commission's ability to meet its operating and debt obligations. Displaying Toll Rates 1. Toll rates will be posted on overhead signs in advance of each 15 Express Lanes entrance. 2. Each toll rate sign will include toll rates to each of the posted destinations. 3. The customer will be charged the toll posted at the time they passed the toll rate sign. 4. Should the toll rate sign not be able to display tolls for any reason then the historical rate for the same time period will be posted. Abnormal Traffic Conditions or Emergencies and Suspension of Tolling A temporary toll schedule may be implemented, which may include the suspension of tolling, during Abnormal Traffic or Emergencies. 160 ATTACHMENT 3 XPP5S LANES 1-1S EXPRESS LONES PROJECT Toll Policy Report Adopted March 2019 1-15 Express Lanes Project Toll Policy Report EXPRESS LRHES Table of Contents Introduction 1 Toll Policy Goals 2 Toll Policy Summary 4 Toll Policy Descriptions 6 1— 2. Toll Pricing Objectives 6 3. Hours of Operation 7 4. Carpool Occupancy Requirement 8 5 — 6. Toll Interoperability 10 7. Project Development Costs 12 8. Operations and Maintenance Costs 14 9. Project Repayment 16 10. Use of Revenue 17 11. Enforcement 18 12 — 14. Operations and Maintenance Responsibilities 20 15. Signage 22 16. Express Bus Integration 23 17. Design — Facility Ingress and Egress 25 18. Design — Number of Lanes 27 19. Toll Pricing Method 28 20. Toll Exemptions and Discounts 30 21. Toll Payment Method 33 22. Mobile Interface 35 23. High Occupancy Vehicle Declaration Options 36 24. Express Lane Operations Facility 38 1-15 Express Lanes Project 162 1-15 Express Lanes Project Toll Policy Report EXPRESS LANES Introduction This report provides a description of the toll policies that form the basis for the Concept of Operations, which serves as the framework for the ultimate design of the 1-15 Express Lanes Project. These toll policies will also be used as key assumptions for the 1-15 Express Lanes Traffic and Revenue Study prepared separately. The 1-15 Express Lanes Project will generally include two tolled express lanes in each direction on Interstate 15 (1-15) in Riverside County between Cajalco Road in Corona and the State Route 60 (SR-60) interchange, a distance of approximately 15 miles. The Project is being developed by the Riverside County Transportation Commission (RCTC) in partnership with the California Department of Transportation (Caltrans) and the Federal Highway Administration (FHWA). The Express Lanes are intended to improve current and projected future congestion by adding capacity that can be managed and operated in a manner consistent with the policies described in this document. RCTC developed a set of toll policy goals that provided a foundation for the development of the policies described in this document. These goals are described in the next section, followed by a table summarizing each of the toll policies and how each policy achieves the stated goals. 1-15 Express Lanes Project 1 163 1-15 Express Lanes Project Toll Policy Report EXPRESS LANES Toll Policy Goals Description: In partnership with federal, state, regional, and local agencies, RCTC develops and oversees transportation plans, policies, funding programs, and both short-term and long-range solutions that address the county's increasing mobility, accessibility, and environmental needs. The establishment of Express Lanes on 1-15 within the County has the potential to assist Riverside County in meeting many of its mobility, air quality, and funding challenges. Vital to this effort are toll policies which fulfill RCTC's goals and objectives for transportation system performance and revenue sustainability. RCTC's toll policy goals and objectives are guidelines for developing specific policies and business rules that inform the toll collection aspects of the design and operation of the 1-15 Express Lanes. Given the corridor's adjacency to the SR-91 corridor, and the more recent effort by RCTC in setting policies and goals for Express Lanes in that corridor, the toll policy goals for 1-15 are similar to those developed by RCTC for the Riverside 91 Express Lanes to provide for regional consistency. EXIJDESS LOMES Background: RCTC, in cooperation with the Caltrans, is proposing a project to improve traffic flow and reduce congestion on a portion of 1-15. The project proposes to construct two tolled Express Lanes generally in each direction between the I-15/Cajalco Road interchange and the I-15/SR-60 interchange. All proposed improvements are anticipated to be constructed within existing Caltrans right of way, with the majority of the improvements occurring within the existing 1-15 median. According to the 1-15 Tolled Express Lane Corridor Improvement Program Draft Forecast Traffic Volume Development Report, the primary purpose of the project is to address current and future (2040) travel demand and improve traffic operations on the 1-15 corridor, which has been identified as a corridor that needs capacity improvements to address existing and projected capacity deficiencies from the accelerated growth and development that has taken place in communities along the 1-15 corridor and is expected to continue. As a result of the on -going accelerated growth and development, the 1-15 corridor will experience increased congestion, longer commute times, increased energy consumption, air pollution, higher accident rates and the degradation of the freeway mainline, local interchanges, and the adjacent local arterials. The operational breakdown of these facilities is expected to have significant adverse impacts on the economic vitality of the region and the transport of goods and services along this corridor. 1-15 Express Lanes Project 2 164 1-15 Express Lanes Project Toll Policy Report EXPRESS LANES Recommendation: RCTC staff recommends the following goals for the 1-15 Express Lanes: 1. Provide Express Lane customers with a safe, reliable, and congestion free trip. 2. Deliver exceptional, consistent, and responsive customer service. 3. Enact toll policies that balance commute choice and lane availability for all customers. 4. Provide the infrastructure and an incentive for ridesharing and increased transit use as an alternative to driving alone. 5. Generate sufficient revenue to meet Express Lane financial obligations to pay current and long- term costs. 6. Use surplus revenues for transportation improvements exclusively within the Interstate 15 corridor. 1-15 Express Lanes Project 3 165 1-15 Express Lanes Project Toll Policy Report EXPRESS LANES Toll Policy Summary # Policy Topic Area Policy Recommendation Toll Policy Goal(s) Met ailli 6 1 Toll Pricing Objectives Optimize person throughput in the corridor while meeting debt obligations. 1,3,4,5 2 Toll Pricing Objectives Establish toll pricing to routinely achieve free -flow speeds of 60-65 mph, always exceeding the 45 mph federal minimum requirement. 1 6 3 Hours of Operation Charge tolls 24 hours a day, seven days a week. 3,5 7 4 Carpool Occupancy Requirement Define carpools as vehicles occupied by 3 or more persons. 3,4 8 5 Toll lnteroperability Adopt the national interoperability standard for automated toll collection systems when adopted by the toll industry. 2 10 6 Toll lnteroperability Adopt the new state interoperability standard for automated toll collection systems when adopted by the California Toll Operators Committee. 2 10 7 Project Development Costs Fund project development costs by current and future Measure A sales tax, toll revenue, and state and federal grants. 3,5 12 8 Operations and Maintenance Costs Fund operations, maintenance, and toll enforcement costs by toll revenue. 2,5 14 9 Project Repayment Repay Measure A sales tax bonds and toll revenue bonds with future Measure A and toll revenue, respectively. 5 16 10 Use of Revenue Use surplus revenue to fund Interstate 15 corridor transportation investments. 2,3,6 17 11 Enforcement Enforce 1-15 Express Lanes toll violations through agreement with the California Highway Patrol and any future state or federal toll violation laws. 1,2 18 12 Operations and Maintenance Responsibilities Maintain Express Lanes and toll systems as a responsibility of RCTC. 1,2 20 1-15 Express Lanes Project 166 4 1-15 Express Lanes Project Toll Policy Report EXPRESS LANES # Policy Topic Area Policy Recommendation Toll Policy Goal(s) Met Page 13 Operations and Maintenance Responsibilities Perform customer service patrol and incident management as a responsibility of RCTC in cooperation with Caltrans and other jurisdictions. 1,2 20 14 Operations and Maintenance Responsibilities Provide customer service and the account relationships as a responsibility of RCTC. 2,5 20 15 Signage Provide toll signage meeting the latest California Manual of Uniform Traffic Control Devices Standards. 1,2 22 16 Express Bus Integration Encourage express bus use through toll policies and Express Lane operations. 3,4,6 23 17 Design — Facility Ingress and Egress Design the roadway and ingress and egress locations meeting Caltrans design standards where feasible and practical. 1,2 25 18 Design — Number of Lanes Construct and operate two Express Lanes in each direction where possible. 1,2,5 27 19 Toll Pricing Method Use Dynamic Pricing to determine the toll price. 1,3,5 28 20 Toll Exemptions and Discounts Provide toll discounts according to legislation and for operations and maintenance vehicles. 1,2 30 21 Toll Payment Method Require all vehicles to have a transponder at time of travel. 1,2,4 33 22 Mobile Interface Implement Mobile Web for FasTrak® customers, but defer the Mobile Toll Payment Application. 1,2,3 35 23 High Occupancy Vehicle Declaration Options Identify HOV3+ carpool customers via a switchable transponder. 1,2,4 36 24 Express Lane Operations Facility Locate the call center, customer service center and traffic management center and administration in close proximity to the Express Lanes. 2 38 1-15 Express Lanes Project 167 5 1-15 Express Lanes Project Toll Policy Report EXPRESS LANES 1— 2. Toll Pricing Objectives Description: Express lane pricing serves as a tool to regulate demand and preserve optimal operating conditions. A primary goal of express lanes is to maintain priority access for high occupancy vehicles (HOVs), buses and vanpools to achieve high person throughput. In addition, federal requirements specify minimum operating conditions for HOV and express lanes and prescribe the use of pricing as a means of meeting those requirements. Express lane pricing also generates revenue that can be used to support project development, operating and maintenance costs, and other improvements. Recommendation: 1. Optimize person throughput in the corridor while meeting debt obligations. 2. Establish toll pricing to routinely achieve free flow speeds of 60-65 mph, always exceeding the 45 mph federal minimum requirement Background: A common goal of express lane projects around the country is to optimize the performance of the lanes using pricing. The performance of express lanes can be measured in a number of ways, including person throughput. And although not often stated as a primary goal of express lanes, revenue generation is another measure of performance. Optimizing person throughput in express lanes is achieved by maintaining priority service for HOVs, buses and vanpools by offering toll discounts and ensuring that the express lanes maintain free -flow conditions for these vehicles. Federal requirements define a degraded HOV or express lane facility as one that does not meet a minimum average operating speed of 45 mph for 90 percent of the time over a 180-day monitoring period during weekday peak hours. The requirements specify varying the toll charged to vehicles to bring a degraded facility into compliance. As described in Section 19, dynamic pricing will be used to manage demand in the Express Lanes. The pricing algorithm used to calculate the toll rates can be calibrated to ensure that free -flow speeds of 60-65 mph are routinely achieved in the Express Lanes. Additionally, tolls can be set to ensure that the project generates revenue that will be used to service debt obligations. Assessment: Optimizing person throughput is a common goal of express lane projects and is achieved by using pricing as a mechanism to maintain priority access for vehicles carrying multiple occupants. Pricing will also be used to ensure that the federal minimum operating requirements are met and that the Express Lanes generate revenue necessary to service debt obligations. 1-15 Express Lanes Project 6 168 1-15 Express Lanes Project Toll Policy Report EXPRESS LANES 3. Hours of Operation Description: Express lane hours of operation define when toll collection will occur. Toll collection can occur during traditionally defined peak periods or extended peak periods (part time), or can occur 24 hours a day, 7 days a week (full-time). Under part-time operations, all passenger vehicles would be allowed to access the Express Lanes during off-peak hours. Under full-time operations, a minimum toll rate would be charged during off-peak hours. Recommendation: Charge tolls 24 hours a day, seven days a week. Background: Express lanes hours of operation generally fall into one of the following categories: 1. Part-time operations — Toll collection occurs during defined periods of the day. When toll collection is not in effect, the express lanes are open to all vehicles. Toll collection can occur during defined morning and evening peak periods (e.g., 5am-9am and 3pm-7pm) or during extended daytime hours (e.g., 5am-7pm). 2. Full time operations — Toll collection is in effect 24 hours a day, 7 days a week. During non - peak times, the toll rate is often set to a minimum rate. All HOV lanes in the Southern California region operate full time, with the exception of SR-14 between Santa Clarita and Palmdale and SR-60 from Day Street to Redlands Boulevard. This is because Southern California freeways experience sustained hours of congestion, with relatively short off-peak hours. Under such conditions, part-time HOV operation would not be viable. Similar to the region's HOV facilities, all current and planned express lane facilities within the SCAG region are operating or will be operating with full-time tolling. The 91 Express Lanes in Orange County and the extension into Riverside County operate 24/7, and the 1-15 Express Lanes project planned in San Bernardino County has also adopted a 24/7 policy. Having consistent policy helps enforcement and may contribute to a better understanding and reliance on the express lanes network whenever congestion occurs. Assessment: Full-time tolling on the 1-15 Express Lanes is recommended to maximize efficient operation of the Express Lanes and general purpose lanes, and to be consistent with adjoining express lane facilities on the SR 91 and the planned 1-15 Express Lanes in San Bernardino County. 1-15 Express Lanes Project 7 169 1-15 Express Lanes Project Toll Policy Report EXPRESS LANES 4. Carpool Occupancy Requirement Description: The HOV occupancy definition establishes the minimum occupancy requirements for discounted and/or free travel within express lanes. This is important because there will be different traffic and revenue results if carpools are defined as two or more persons per vehicle (HOV-2+) or three or more persons per vehicle (HOV-3+). Recommendation: Define carpools as vehicles occupied by 3 or more persons. Background: Under Federal requirement (23 USC § 166), HOV and express lanes facilities must maintain a minimum speed of 45 mph. Caltrans has the responsibility of maintaining operations for the state's HOV lanes, which includes the authority to make operational changes (including occupancy) provided they are compliant with federal and state regulations. Multiple sections of California law pertain to HOV policies on express lanes. The specific legislative authorization given to each facility in the state typically provides that particular entity the authority to set rates and HOV policies on the respective facilities. RCTC's application for the 1-15 Express Lanes Project approved by the California Transportation Commission (CTC) states that vehicles with three or more occupants will be allowed entry into the Express Lanes at no cost initially. The Application acknowledges that it may be necessary to charge for HOV-3+ in the future as demand for the Express Lanes increases. 0 HOV-3+ 3 OR MORE PERSONS PER VEHICLE According to the 2013 CA HOV Lane Degradation Report published by Caltrans, many HOV facilities in the Southern California region are currently experiencing various degrees of performance degradation with a HOV-2+ minimum occupancy requirement. As the region's express lanes network expands, and demand increases, the need to increase the minimum occupancy requirement becomes more apparent. Currently, there are three existing and four planned (excluding this Project) express lane facilities in southern California. The current practices for carpool occupancy policy are summarized as follows: Existing Facilities • Metro 1-10 ExpressLanes — HOV-3+ toll -free during peak periods; HOV-2+ toll -free all other times • Metro 1-110 ExpressLanes — HOV-2+ toll -free 1-15 Express Lanes Project 170 8 1-15 Express Lanes Project Toll Policy Report EXPRESS LANES • OCTA 91 Express Lanes — HOV-3+ toll -free, with the exception of eastbound PM peak period operating with discount toll rates for HOV-3+ Planned Facilities • OCTA 405 Express Lanes —Pending results of the Traffic and Revenue Study • SANBAG 1-10 Express Lanes — HOV-3+ toll -free • SANBAG 1-15 Express Lanes — HOV-3+ toll -free • Riverside 91 Express Lanes — HOV-3+ toll -free, with the exception of eastbound PM peak period operating with discount toll rates for HOV-3+ Assessment: HOV-3+ is recommended as the minimum occupancy requirement for discounted travel for the 1-15 Express Lanes. This is consistent with policy recommendations in the SCAG Regional Express Lanes Concept of Operations and the adjoining SR-91 in Orange/Riverside Counties and future 1-15 Express Lanes in San Bernardino County. 1-15 Express Lanes Project 9 171 1-15 Express Lanes Project Toll Policy Report EXPRESS LANES 5 — 6. Toll Interoperability Description: Toll interoperability refers to the ability for customers to use multiple toll facilities with a single toll account. Currently, there are various tolling protocols used across the United States to communicate between the in -vehicle toll transponders and roadside toll readers and only a few of the systems allow a customer to use the same toll transponder at other facilities across state lines. There are national and state initiatives to adopt new interoperability standards. Recommendation: 5. Adopt the national interoperability standard for automated toll collection systems when adopted by the toll industry. 6. Adopt the new state interoperability standard for automated toll collection systems when adopted by the California Toll Operators Committee. Background: The protocol for the exchange of transponder information for toll facilities in California is specified by Title 21 of the California Code of Regulations. The transponders used by California toll agencies are commonly referred to as Title 21 transponders. These transponders are branded as FasTrak® and can be used on any of the California toll facilities. California is the only state currently using the Title 21 transponders. Switchable Title 21 4930111l II IIll11lllllll WSDOT 6C Sticker Legacy Title 21 In 2012, the federal government passed Moving Ahead for Progress in the 21st Century, MAP-21, calling for a national toll interoperability by 2016. The International Bridge, Tunnel, and Turnpike, Authority (IBTTA) is the worldwide association representing toll facility owners and operators and the businesses that that serve them. IBTTA has formed an Interoperability Committee that is working to advance the goal of achieving national interoperability by 2016. They are in the process of selecting the transponder protocols that will undergo further testing and analysis. The Title 21 transponders are not being considered for the national standard. Concurrent with the efforts of IBTTA, the California Toll Operators Committee (CTOC), which was formed to facilitate interoperability within California, has developed a Transition Plan to replace the legacy California protocol (referred to as "Title 21") with a newer and less expensive protocol (referred to as "6C"). This plan proposes that all toll facilities in the state be able to recognize the 6C protocol by 2018 1-15 Express Lanes Project 10 172 1-15 Express Lanes Project Toll Policy Report EXPRESS LANES with full transition by 2020. The 6C protocol is also one of the final protocols being evaluated for the national standard and CTOC is represented in the discussions regarding national interoperability. Assessment: The 1-15 Express Lanes will be consistent with the interoperability standards currently being assessed at the national and state levels. In doing so, 1-15 Express Lanes customers will only have to establish a single toll account to travel on all toll facilities in the state and, depending on the outcome of the national interoperability discussions, may be able to use their account to travel on toll facilities across the country. 1-15 Express Lanes Project 11 173 1-15 Express Lanes Project Toll Policy Report EXPRESS LANES 7. Project Development Costs Description: The 1-15 Express Lanes will require funding for project capital costs, necessary for the final design, construction, and initial deployment of the Express Lanes. Capital costs include all items necessary to build new lanes or retrofit existing lanes in order to provide an Express Lane facility, including infrastructure construction, toll collection implementation, and equipment. The funds for capital costs may come from a number of sources, including Riverside County "Measure A" sales tax revenue or state and federal grants. In addition, bonds could be issued or a federal loan obtained for capital costs that are leveraged based on these dedicated tax revenue sources and/or toll revenues from the actual Express Lane facility. EXPRESS LANES Recommendation: Fund project development costs by current and future Measure A sales tax, toll revenue, and state and federal grants. Background: Riverside County Measure A Sales Tax Measure A is a Riverside County half -cent sales tax dedicated to transportation. Voters approved the Measure A program in 1988, which has raised over $1 billion for major highway and local road projects throughout Riverside County. Voters extended Measure A in 2002, ensuring that the program will continue to fund transportation improvements through 2039. Federal Funding In addition to local funding through Measure A, there are multiple federal programs facilitated through the FHWA that could potentially be used to fund the 1-15 Express Lanes. These programs are intended to award funds to projects that upgrade facilities in order to reduce congestion or improve safety. These sources could include, but are not limited to, the Surface Transportation Program, the Highway Safety Improvement Program, Congestion Mitigation and Air Quality funds, or a loan awarded through the Transportation Infrastructure Finance and Innovation Act (TIFIA). 1-15 Express Lanes Project 12 174 1-15 Express Lanes Project Toll Policy Report EXPRESS LANES State Funding California state funding could potentially be available through the State Transportation Improvement Program (STIP). The CTC administers the STIP, which awards funds to eligible highway projects programmed by county transportation agencies. Bonds Many express lane projects throughout the country require some level of financing or debt. A limited tax obligation bond is issued by a government entity which is secured by a pledge of a specific tax revenue and can be used to fund certain capital improvements. However, the ability of a priced managed lane to collect toll revenue creates a dedicated funding source, which could be used to issue and repay a bond. These toll revenue bonds are the most popular to be issued by toll facilities. The authorizing statute for the 1-15 Express Lanes (Streets & Highways Code Section 149.8) permits RCTC to issue bonds to finance the project. Assessment: Financing a project through the issuance of bonds or other means, allows for projects to offer the public more immediate benefits of transportation infrastructure, while spreading the costs of that infrastructure over the life of a project. In this way, the additional interest cost paid by the agency is outweighed by the mobility and economic benefits of having the project available more quickly. Capital costs for the 1-15 Express Lanes are to be funded through current and future Riverside County Measure A sales tax revenues and project toll revenues through bond and TIFIA loan financing. Specifically, the recommendation is that sales tax revenue bonds may be issued by RCTC and repaid through Measure A sales tax revenues, while toll revenue bonds may also be issued and a TIFIA loan executed with repayment ensured through toll revenues collected by the 1-15 Express Lane facility. In addition, it is recommended that additional State and Federal discretionary grant opportunities are sought to supplement project funding. RCTC's project plan of finance is currently being developed as part of project financing activities and will be brought for Board approval in the future. 1-15 Express Lanes Project 13 175 1-15 Express Lanes Project Toll Policy Report EXPRESS LANES 8. Operations and Maintenance Costs Description: The 1-15 Express Lanes will require funding for ongoing operation and maintenance costs associated with the project. Toll collection and dedication to enhanced traveler benefits make express lanes unique when compared to other highway projects, and often require greater resources and funding for the operation and maintenance of these services. The cost of express lane operations includes toll collection, standard operations, enhanced enforcement, incident response services, and toll system and facility maintenance. Operation and maintenance activities require a dedicated funding source in order to be viable, which could include local, state, or federal revenues, in addition to actual toll revenues collected as part of the project. Recommendation: Fund operations, maintenance, and toll enforcement costs by toll revenue. Background: As with all transportation infrastructure, a dependable and dedicated source of funding is necessary for operations and maintenance. This is especially true for express lanes, where enhanced services can be necessary to offer reliable travel time savings to toll paying customers. Express lanes are also unique in that the revenue collected from tolls is able to be used as a dedicated source of operation and maintenance funding. The following are general express lanes operations and maintenance costs: Toll Collection Costs Toll collection costs include all costs associated with processing tolls payments, including the labor and materials required to manage customer accounts, perform license plate image reviews, process toll violations and provide general customer service. In addition, the cost of distributing and managing transponder inventory is included. Standard Operation Costs Standard operation includes costs associated with labor and equipment necessary to manage express lane operations, including personnel to monitor traffic and toll operations, generate reports, public outreach, management and oversight, etc. 1-15 Express Lanes Project 14 176 1-15 Express Lanes Project Toll Policy Report EXPRESS LANES Enhanced Enforcement In order to manage express lanes demand, it is important that the vehicles using express lanes are either paying the posted toll or meeting the HOV requirement. A thorough enforcement program including the presence of the California Highway Patrol (CHP) is necessary to maintain motorist compliance. Incident Response Services In order to offer a dependable travel time savings, it is important that incident response resources be available to remove any disabled vehicles or objects which may prevent free -flow conditions. Toll System and Facility Maintenance Maintenance costs associated with express lanes include the inspection, upkeep, and replacement of the facility itself and items necessary for toll operation including roadside toll collection equipment and infrastructure, communications infrastructure, and all other hardware and software elements. Assessment: It is recommended that operation and maintenance costs for the 1-15 Express Lanes be funded through toll revenue. Under this assumption, the resources and services necessary for Express Lanes operations will be funded from the project itself. Funding operations through project revenue will require that Express Lane tolls are set at a rate that ensures mobility and travel time benefits to customers, while also generating sufficient revenue to effectively operate the Express Lanes and meet debt obligations. 1-15 Express Lanes Project 15 177 1-15 Express Lanes Project Toll Policy Report EXPRESS LANES 9. Project Repayment Description: As described in Section 7, sales tax and toll revenue bonds are anticipated to be issued by RCTC and a federal TIFIA loan executed to finance the 1-15 Express Lanes development costs. Sales tax revenue bonds are to be backed by future Measure A tax revenues and toll revenue bonds are to be backed by future revenues generated by the Express Lanes. Therefore, funds for the repayment of these bonds will be obtained through revenues to be generated by the Measure A sales tax and operation of the Express Lanes. Recommendation: Repay Measure A sales tax bonds and toll revenue bonds with future Measure A and toll revenue, respectively. Background: The authorizing statute for the 1-15 Express Lanes (Streets & Highways Code Section 149.8) permits RCTC to issue bonds to finance the project. It is RCTC's intent to issue bonds backed by both Measure A sales tax revenues and future toll revenues and to repay the bonds using these revenue sources. Assessment: Consistent with the obligations of issuing bonds, RCTC will repay bonds using revenues generated by Measure A sales taxes and Express Lane tolls. 1-15 Express Lanes Project 16 178 1-15 Express Lanes Project Toll Policy Report EXPRESS LANES 10. Use of Revenue Description: Express lanes charge tolls and generate toll revenue as a normal function of operation. The 1-15 Express Lanes will require an expenditure plan for all revenue, outlining what activities or functions will be funded from collected toll payments. As stated in Section 9, it is recommended that toll revenues should be used toward repayment of bond debt issued on behalf of the project and also to fund facility operations, maintenance, and enforcement. However, net excess revenue may remain after payments toward operation and maintenance costs and debt service obligations. There are multiple projects and programs which could be funded through the net excess toll revenue from the 1-15 Express Lanes. Recommendation: Use surplus revenue to fund Interstate 15 corridor transportation investments. Background: The goal of most express lane facilities is to generate enough revenue to cover basic operations and maintenance, meet debt obligations (if applicable), as well as to fund replacement and upkeep to the extent that adequate revenue is available. Other facilities dedicate portions of net excess revenue to fund enhanced transit operations within the express lane facility, such as 1-15 in San Diego and 1-95 in South Florida. Statutes for the Metro 1-110 and 1-10 ExpressLanes in Los Angeles County state that toll revenue must first cover the costs incurred in connection with implementation/operation of the program. Metro reinvests surplus toll revenue into the corridor through a grant program. In addition, the 91 Express Lanes in Orange County have adopted the policy of directing net excess revenues to capital improvements within the SR-91 corridor. The authorizing statute for the 1-15 Express Lanes (Streets & Highways Code Section 149.8) permits excess toll revenues to be used for the following purposes: (A) To enhance transit service designed to reduce traffic congestion on 1-15 or to expand travel options along 1-15. Eligible expenses include transit operating costs, acquisition of transit vehicles and transit capital improvements. (B) To make operational or capacity improvements designed to reduce congestion or improve the flow of traffic on 1-15. Eligible expenses include any phase of project delivery to make capital improvements to onramps, connector roads, roadways, bridges, or other structures on 1-15. Assessment: The toll revenue collected as part of the 1-15 Express Lanes operations will be used primarily to fund operation, maintenance, and enforcement costs of the facility, as well as to meet debt obligations for any revenue bonds issued as part of the project. Any remaining net excess revenue will be used to fund transportation improvements within the 1-15 Express Lanes corridor consistent with authorizing statute. 1-15 Express Lanes Project 17 179 1-15 Express Lanes Project Toll Policy Report EXPRESS LANES 11. Enforcement Description: Express lanes require effective enforcement policies and programs to operate successfully. Enforcement of vehicle occupancy requirements and toll payment is critical to protecting eligible vehicles' travel time savings and safety. Visible and effective enforcement promotes fairness and maintains the integrity of the facility to help gain acceptance among users and nonusers. Recommendation: Enforce 1-15 Express Lane toll violations through agreement with the California Highway Patrol and any future state or federal toll violation laws. Background: Adequate and effective enforcement policies and incident management are integral elements to express lanes operations to ensure that the facilities are operating at the intended level of performance. Enforcement of vehicle occupancy and/or toll payment requirements is critical to protecting eligible users' travel -time savings and safety. Visible and effective enforcement promotes fairness and maintains the integrity of the facility to help gain acceptance among users and non -users. The enforcement concept for many express lane facilities around the country involves a combination of manual and automated enforcement strategies. Manual enforcement requires CHP officers to be present during the peak hours to serve as a visual deterrent and to monitor vehicles to ensure they are complying with express lane operating policies. Observation areas are provided at strategic locations for officers to park and monitor beacons that illuminate when a vehicle passes through with a switchable transponder (see Section 23 of this report) set to a high -occupancy setting. Beacon lights provide a visual cue for officers to visually inspect the vehicle to verify whether it meets the occupancy requirement. The beacons can also be used to indicate when no transponder or an invalid transponder was detected and can be strategically placed to support stationary enforcement as well as enforcement by officers driving the corridor. CHP will also be relied upon to enforce all other moving violations, including illegal crossing of the express lanes buffer and the requirement for vehicles to have properly mounted license plates. In addition to manual enforcement, License Plate Recognition (LPR) cameras will be located at toll points to capture the license plates of vehicles for which no transponder was detected. If the license plate is able 1-15 Express Lanes Project 180 18 1-15 Express Lanes Project Toll Policy Report EXPRESS LANES to be matched to an account, then the toll amount will be deducted from the account. Otherwise, the license plate information is sent to the Department of Motor Vehicles (DMV) to determine the address of the registered owner for issuance of a toll violation. In the Southern California region, HOV and express lanes enforcements are generally conducted by the CHP in conjunction with automatic tolling systems. The four operating express lane facilities in Southern California, Metro 1-10 ExpressLanes, Metro 1-110 ExpressLanes, OCTA 91 Express Lanes, and SANDAG's I- 15 Express Lanes are all under contract with CHP to conduct violation enforcement. These facilities also employ beacon lights and CHP observation areas where possible. Assessment: Given national experience, including experience with the four express lanes operated in Southern California, manual enforcement is a proven component of successful express lane operations. The presence of CHP vehicles instills confidence to customers and serves as a deterrent for those that may violate. RCTC will establish an agreement with CHP officers to enforce the 1-15 Express Lanes and provide CHP the necessary tools such as enforcement beacon lights and access to transponder information to effectively enforce. In addition, LPR cameras will be used to enforce the requirement for vehicles to carry a transponder. 1-15 Express Lanes Project 19 181 1-15 Express Lanes Project Toll Policy Report EXPRESS LANES 12 —14. Operations and Maintenance Responsibilities Description: Express lanes operations and maintenance responsibilities can be managed in a number of ways. These responsibilities include the maintenance of all equipment associated with the toll system, providing oversight of operations and incident management, and providing customer service to manage customer accounts. Each of these responsibilities is integral to the overall performance and operation of the express lanes. Express lane implementing agencies can use agency staff, contract staff or share responsibilities with other agencies. Recommendations: 12. Maintain Express Lanes and toll systems as a responsibility of RCTC. 13. Perform customer service patrol and incident management as a responsibility of RCTC in cooperation with Caltrans and other jurisdictions. 14. Provide customer service and the account relationships as a responsibility of RCTC. Background: Express lane operation and maintenance functions require dedicated resources to maintain hardware and software, monitor performance and manage customer accounts. These functions are described in more detail below. Toll Systems Maintenance The maintenance of toll systems includes the inspection, upkeep, and replacement of the items necessary for toll operations and the supporting infrastructure. Roadside toll collection equipment, communication network components, servers and workstations are all elements of a working toll system that require routine maintenance. Most express lane operating agencies enter into contracts with toll service providers to not only design and construct the toll systems, but also to operate and maintain them for some period of time. The toll system providers are required to develop maintenance tracking systems that keep track of the maintenance requirements for all elements of the toll system. These systems send alerts when there is an equipment malfunction, track maintenance response times, and keep track of equipment inventory. Performance Monitoring and Incident Management An important component of express lane operations is the ability to monitor traffic performance in real- time to ensure that the express lanes are maintaining optimum conditions. This is accomplished using roadside vehicle detection equipment and closed-circuit television cameras that send real time information to a facility where operators can monitor. Operators have the ability to override the toll system (e.g., display a message such as "HOV ONLY") when conditions warrant and to coordinate with 1-15 Express Lanes Project 20 182 1-15 Express Lanes Project Toll Policy Report EXPRESS LANES Caltrans, CHP and other jurisdictions as needed. In addition, operators have the ability to dispatch tow trucks to clear incidents. Some express lane operators choose to co -locate their express lane monitoring functions within a regional monitoring center and others choose to establish a dedicated monitoring facility. An example of a regional monitoring center is the Inland Empire Transportation Management Center (IETMC), which serves as an intermodal traffic management facility for San Bernardino and Riverside Counties and is staffed by both Caltrans and CHP personnel. The IETMC opened to service in 2011 and is located in the City of Fontana at the interchange of the 1-15 and 1-210. Customer Service Inland Empire Transportation Customer service includes all of the functions related to account management, payment processing, transponder distribution, violation processing and providing general customer support. Some of these support activities, often referred to as "back office" activities, can take place at offsite facilities. Examples of activities that can be performed offsite include call taking and license plate image review. However, the location(s) of some customer service functions are ideally located in close proximity to the express lanes, including walk-in customer service, customer call center and transponder distribution. Assessment: Express lane operating agencies typically procure a contractor to carry out customer service responsibilities due to the amount of specialized systems and labor required. RCTC will contract with a toll services provider to design, implement, operate and maintain all aspects of the 1-15 Express Lanes toll system. The RCTC Operations Center (see Section 24) will serve as the hub of all customer, maintenance, and operating activities. 1-15 Express Lanes Project 21 183 1-15 Express Lanes Project Toll Policy Report EXPRESS LANES 15. Signage Description: The California Manual of Uniform Traffic Control Devices (California MUTCD) provides uniform standards and specifications for all traffic signage in California. The most recent version of the California MUTCD, published in 2014, includes signing guidelines and requirements for express lane facilities. These requirements are intended to standardize the way that express lanes throughout the state are signed to make it easier for the traveling public to understand express lane operating requirements. Recommendation: Provide toll signage meeting the latest California Manual of Uniform Traffic Control Devices standards. Background: The general signing requirements for all new highway projects, including express lanes, must comply with the 2014 California MUTCD. The California MUTCD includes requirements for different types of express lane configurations and operating requirements. Of particular relevance to the 1-15 Express Lanes, are those signs that depict a restricted access facility where all vehicles in the express lanes are required to have a FasTrak° account. Example Pricing Sign Express lane signs included in the California MUTCD generally fall into the following categories: • Overhead -mounted signs designating the start and end of the express lanes as well as intermediate access points. • Overhead -mounted pricing signs that display the toll amount to given downstream locations. In accordance with the guidance in the MUTCD, pricing signs display the current toll to no more than two downstream destinations. Changeable message elements will be used to indicate the toll rate to travel to the destination shown. These signs will also specify the HOV occupancy requirement and that a FasTrak° account is required for vehicles to use the facility. • Median mounted and overhead signs that display the carpool occupancy requirement, the FasTrak° account requirement and hours of operation. Assessment: The 1-15 Express Lanes signage will conform to the standards in the California MUTCD. The design and implementation of the signage will be the result of several sign workshops and plan reviews that will include Caltrans and the FHWA. 1-15 Express Lanes Project 22 184 1-15 Express Lanes Project Toll Policy Report EXPRESS LANES 16. Express Bus Integration Description: Transit is an important component in express lanes. If managed through variable pricing to maintain a minimum level of service, express lanes create efficient and reliable transit corridors compared to previously congested freeways. Of the existing HOV and express lanes facilities in the southern California region, most are already served by express bus services. Operating express bus service on express lanes offers several key benefits: • Shortens Travel Times • Improves Travel Time Reliability • Lowers Operating Costs • Increases Person Throughput • Encourages Carpooling and Transit Use • Addresses Equity Concerns • Builds Public Support Recommendations: Encourage express bus use through toll policies and Express Lane operations. Background: Currently, the Riverside Transit Agency (RTA) provides eight express bus services throughout Riverside County, with one route (CommuterLink Express 206) providing service along 1-15 between Temecula and Corona. The CommuterLink Express— Route 206 (Temecula-Murrieta-Lake Elsinore - North Main Corona Metrolink Station) runs daily during weekdays on approximately 30-minute headways, and the general fare costs $3.00 each way (free with valid Metrolink Pass). Route 206 provides connections for commuters travelling from Riverside County to other regions via the North Main Corona Metrolink station. RTA CommuterLink Express services Nicholas Ventrone / The Transit Coalition In anticipation of the 91 Express Lanes extension in Riverside County, the RTA already has two new RapidLink express bus routes programmed for deployment in 2017. These two routes, RapidLink 200 and 205, will provide connections between Riverside and Anaheim as well as Temecula and Anaheim via the 91 Express Lanes. The proposed 1-15 Express Lanes will provide the opportunity for further expansion of express bus services along the corridor. Similar to express bus benefits, the 1-15 Express Lanes can provide opportunities for enhancing and promoting carpooling/vanpooling by commuters. Currently, there are eight Caltrans Park and Ride lots along the 1-15 corridor within Riverside County. Of the eight existing lots, three are located within the I- 15 Express Lanes Project corridor: 1-15 Express Lanes Project 185 23 1-15 Express Lanes Project Toll Policy Report EXPRESS LANES • Canyon Community Church Park And Ride (1504 Taber Street, Corona) — 75 spaces • Norco @ 6th Street Park And Ride (3945 Old Hamner Road, Norco) — 100 spaces • Mira Loma Park and Ride (12105 Limonite Avenue, Mira Loma) — 76 spaces Specialized Transit Services It should be noted that not only will the fixed route bus service discussed benefit from the 1-15 Express Lanes, but also the Specialized Transportation Program funded by RCTC via Measure A funding along with federal funding from the Job Access Reverse Commute (JARC) and New Freedom (NF) programs. These specialized transit services (Dial -A -Ride paratransit) will most likely use the 1-15 Express Lanes. In addition, a handful of non-profit and special criteria providers that operate specialized transportation will also benefit from using the 1-15 Express Lanes. Physical and Policy Considerations Many of the physical design considerations for integrating bus service are similar to express lanes and HOV lanes, which have well -established design criteria. Besides the physical design, each express lane project has a unique set of policies in place that influences how well transit is integrated in a particular corridor. Establishing a set of policies that improves transit service and capacity is also often essential in building public support for often controversial toll lane projects and helps to neutralize the perception that Express Lanes are "Lexus Lanes" that primarily benefit those with higher incomes. Assessment: Encouraging transit and offering benefits for express bus service is a key component of the 1-15 Express Lanes project. Coordination with RTA will take place during the design of the Express Lanes to ensure that transit needs are taken into consideration. 1-15 Express Lanes Project 24 186 1-15 Express Lanes Project Toll Policy Report EXPRESS LANES 17. Design — Facility Ingress and Egress Description: This policy is related to the design of access locations, where vehicles can enter and exit the 1-15 Express Lanes. Regulating access is one of the fundamental tools to manage traffic flow in the express lanes, and therefore, it is important to select the access points and design treatment early in the planning phase along with the separation type to help minimize weaving conditions. Recommendation: Design the roadway and ingress and egress locations meeting Caltrans design standards where feasible and practical. Background: Access treatments for express lane facilities fall into the following three categories: Grade -separated direct access drop ramps Grade -separated drop ramps provide access to and from the express lanes using dedicated grade direct access ramps. These types of ramps generally provide access from adjacent freeways/arterials and park and ride facilities for express bus operations, and are desirable where sufficient right-of-way and high traffic volumes in both the express lanes and general purpose lanes warrant the need for such exclusive access. An example of a grade -separated drop ramp is the SR-91 eastbound direct connector to the southbound 1-15 and vice versa being constructed as part of RCTC's SR- 91 Corridor Improvement Project. At -grade limited access At -grade limited access provides access to and from the express lanes at designated locations, typically through at -grade access openings that serve as ingress, egress or combined ingress and egress. Physical barriers or painted striping separates the express lanes from the adjacent general purpose lanes between access locations. Three different approaches for providing at -grade limited access include: • Weave zones — provides combined ingress and egress by short breaks to the physical barriers or striping at designated locations. • Weave lanes — similar to weave zones, except movement is facilitated by a change lane, which isolates the weaving from both the express lanes and the general purpose lanes, thereby minimizing the potential for unstable flow. At -grade limited access configuration on LA Metro ExpressLa nes • Merge lanes — provide dedicated and separated ingress and egress (acceleration and deceleration) lanes. The merge lanes allow drivers the opportunity to adjust their speeds to match 1-15 Express Lanes Project 187 25 1-15 Express Lanes Project Toll Policy Report EXPRESS LANES the lane they are merging into. This design treatment further reduces the potential for unstable flow, as conflicts are avoided in the access lane. Continuous access Continuous access allows vehicles to enter and exit the express lanes for the entire stretch without any specific ingress/egress treatments. The striping that separates the express lanes from the general purpose lanes are generally skip striped. Assessment: A limited access configuration is recommended for the 1-15 Express Lanes because it can reduce toll evasion, ensure greater access control, and is consistent with the access configuration of existing Southern California HOV and express lanes. Further, a limited access configuration is less complicated to design and has a far lower construction cost than direct access ramps and does not require as much toll equipment as may be required for continuous access. Vehicles will be able to access the express lanes at intermediate access points that provide access to local exits and interchanges. Between these points, access will be restricted to prevent weaving and improve overall mobility. A map of proposed access locations is accessible at http://il5project.info/express_lanes_access.php. 1-15 Express Lanes Project 26 188 1-15 Express Lanes Project Toll Policy Report EXPRESS LANES 18. Design — Number of Lanes Description: The number of express lanes to be implemented for a particular project is dependent upon several variables, including traffic congestion, occupancy requirements and availability of existing right of way. The Project Approval Document for the 1-15 Express Lanes generally includes a two lane configuration in each direction based on traffic and engineering analysis. This configuration is intended to add capacity, improve operations and fits within existing right of way. Recommendation: Construct and operate two Express Lanes in each direction where possible. Background: A number of criteria must be considered when evaluating the capacity needs of an express lanes project. These include existing and projected traffic congestion, toll discount policies, and the cost and availability of right of way. Some express lane projects simply convert an existing HOV lane to an express lane, others convert an existing lane and construct an additional lane (e.g., LA Metro 1-10 ExpressLanes), and others construct an entirely new lane or lanes (e.g., I-680SB Express Lane in the Bay Area). "p\17-7- T�1 Nir Two lane configuration on LA Metro 1-10 There are currently no existing HOV lanes within the 1-15 ExpressLanes project limits. The preliminary engineering performed as part of the project identified a need for a two lane configuration in each direction to serve future traffic demand. This configuration fits within the existing right of way and helps to ensure that the facility will be able to sustain a high level of service. Assessment: The recommendation for a two lane configuration in each direction where possible is consistent with the project schematics and serves projected traffic demand while fitting within existing right of way. 1-15 Express Lanes Project 27 189 1-15 Express Lanes Project Toll Policy Report EXPRESS LANES 19. Toll Pricing Method Description: Express lanes use pricing to manage the number of toll paying customers using the facility. Managing the number of users allows the express lanes to meet performance goals such as those described in Section 1 and Section 2. Variable pricing is to be used to manage traffic, whereby the cost to use the express lanes is directly related to the level of demand for the express lanes. As demand increases, raising the tolls will help manage demand in order to maintain federal performance requirements. Conversely, the price decreases as demand decreases to incentivize more vehicles to utilize the available capacity. Two variable pricing methods are currently in use on facilities across the country: time -of -day pricing and dynamic pricing. Recommendation: Use Dynamic Pricing to determine the toll price. Background: Time -of -Day Pricing Time -of -day pricing employs a fixed toll rate schedule with different toll rates by travel direction, time of day and day of the week. Time - of -day pricing is actively used on the 91 Express Lanes and on express lanes in Denver and Houston. Time -of -day pricing is effective when traffic patterns remain relatively consistent over time. For instance, if congestion reaches the same level at the same time every Monday, then a static price that is capable of maintaining the desired level of traffic volume can be used for that time period. 91 Express Lanes TOLL $2.1111 With time -of -day pricing, tolls vary according to a fixed schedule, with different prices charged based on direction of travel, day of the week, and hour of the day. The toll rates are determined based on historical travel conditions in the corridor, and vary according to demand and congestion. The performance of express lane facilities using time -of -day pricing requires evaluation on a regular basis to ensure that free flow conditions are being maintained in the express lanes. If travel conditions on the express lanes deteriorate overtime, the rates should be increased. Similarly, rates can also be lowered when the express lanes are found to have excess capacity that is not being used effectively. On the 91 Express Lanes, performance is monitored daily and evaluated every three months. 1-15 Express Lanes Project 190 28 1-15 Express Lanes Project Toll Policy Report EXPRESS LANES Dynamic Pricing Dynamic pricing employs toll rates that vary in real time based on actual travel conditions detected in the corridor. Dynamic pricing is actively used on most California express lanes, including 1-10 and 1-110 (Los Angeles), 1-15 (San Diego), 1-680 (Alameda County), and 1-880 / SR-237 (San Jose). Dynamic pricing is effective on facilities that have a high level of variability in congestion throughout each day and from day to day. For instance, if a facility does not have a peak period that is consistent from one day to the next or has a high rate of incidents that impact traffic, dynamic pricing allows for the adjustment of the price to match the actual real-time traffic conditions. �: EXPRESS LANES M!NIMEUM TOLL: 5 11.1. TO S To (J. _Iu 0.75 WINS MINS Dynamic pricing provides a real-time monitoring and response capability for express lane operations. Dynamic pricing requires capital investment for both the algorithm and the traffic detection system and also requires ongoing monitoring and maintenance of the pricing algorithm and traffic detection system. Like the time -of -day pricing, dynamic pricing requires variable message signs to communicate price to customers. Assessment: In order to be responsive to real-time traffic conditions that may vary from day to day, it is recommended that the 1-15 Express Lanes use dynamic pricing. Despite the higher capital costs of deployment as compared to time -of -day pricing, dynamic pricing will be valuable to manage traffic and ensure the facility provides reliable travel at all times. The ability to readily adjust pricing and manage demand through dynamic pricing will allow for flexibility, particular in the critical area of overlap with the 91 Express Lanes that use time -of -day pricing. 1-15 Express Lanes Project 29 191 1-15 Express Lanes Project Toll Policy Report EXPRESS LANES 20. Toll Exemptions and Discounts Description: Toll discounts and exemptions are required by legislation, law and by agreement with project partners. Discounts have an impact on revenue, operations, customer service center systems and enforcement. It is important to establish toll discounts or exemptions at an early stage to allow for the evaluation of operational impacts and for inclusion in system design. Recommendation: Provide toll discounts according to legislation and for operations and maintenance vehicles. Background: A review of project agreements and legislation suggested that the following vehicle types require evaluation for toll discounts. Transit One of the primary goals of express lane facilities is to offer enhanced transit service. California Vehicle Code defines qualifying mass transit, paratransit and vanpool vehicles, including those that are publically or privately funded. These vehicles will be allowed to travel toll -free in the 1-15 Express Lanes at all times. With the passage of the Fixing America's Surface Transportation Act (the FAST Act) on December 4, 2015, U.S. Code was amended to enable privately -owned buses servicing the public to utilize toll facilities under the same rates, terms and conditions as other public transportation vehicles. RCTC will establish agreements with operators to facilitate toll -free travel at all times. High -Occupancy Vehicles The application for the 1-15 Express Lanes project approved by the CTC and the Federal Agreement between RCTC, FHWA and Caltrans provide direction with regard to the tolling of HOVs. In both instances, HOVs are defined as vehicles with three or more occupants (HOV-3+). The authorizing statute for the Express Lanes (Streets & Highways Code Section 149.8) also specifies free travel for HOV-3+ vehicles initially upon opening. There is no mechanism to regulate the demand of HOV-3+ vehicles when there is a 100% toll discount. As the HOV-3+ volume becomes an increasingly larger percentage of the total 1-15 Express Lanes traffic, it will become increasingly difficult for the dynamic pricing algorithm to effectively manage demand and preserve free flow operations in the 1-15 Express Lanes. Therefore, it is recommended that the speeds in the 1-15 Express Lanes be monitored to determine when the lanes are being degraded. If the average speed in the Express Lanes drops to 60 mph three or more times in a thirty day period after three months of operation, the HOV-3+ discount will be reduced to 50%. The 100% discount will be in place for at least 1-15 Express Lanes Project 30 192 1-15 Express Lanes Project Toll Policy Report EXPRESS LANES the first three months of operation to allow for customers to adjust to the new facility and to incentivize use of the 1-15 Express Lanes by carpoolers. Motorcycles California Vehicle Code 21655.5(b) provides for free passage on preferential lanes for motorcycles. Motorcycle toll transactions will be processed either through a transponder or by reading their license plate. Zero Emission Vehicles (ZEVs) Legislation (AB 1721), enacted as California Vehicle Code Section 5205.5, allows motorists driving ZEVs displaying a DMV-issued Clean Air Vehicle decal to travel in express lanes with a toll -free or reduced rate toll. The statute does not mandate the rate of reduction. The existing legislation is set to expire January 1, 2019 ahead of the 1-15 Express Lanes planned opening. Similar to the tr atment of HOV 3+ vehicles, Tthe toll discount for ZEVs will be 15% upon opening of the Express Lanes.rcduccd to 50% if average speeds drop below 60 mph more than three times in a thirty day period after three months of operation. Emergency Vehicles 4ACCESS DIY CAUF�RN 4 CLEAN AM' VENICGE White and Green Clean Air Vehicle Decals for HOV Lane Use State of California / Dept. of Motor Vehicles California Vehicle Code 23301.5 provides for toll exemption for specifically identifiable emergency vehicles being driven while responding to or returning from an urgent or emergency call, engaged in an urgent or emergency response, or engaging in a fire station coverage assignment directly related to an emergency response. The common method of processing these tolls is through a "non -revenue" account where the transaction is processed by the back office and posted to the account in order to provide a method of monitoring usage. RCTC will establish agreements with the local emergency providers that will outline the specific rules for these non -revenue accounts. Maintenance and Operation Vehicles In order to facilitate access to express lanes for the purposes of performing various maintenance tasks or performing operational checks and testing, it is common for tolling authorities to grant toll -exemption for vehicles being driven for these maintenance purposes. The common method of processing these tolls is through a "non -revenue" account where the transaction is processed by the back office and posted to the account in order to provide a method of monitoring usage. Assessment: In general, vehicles that are eligible to utilize HOV lanes in accordance with applicable federal or state law will be allowed discounted access to the 1-15 Express Lanes. This includes buses (public transit and 1-15 Express Lanes Project 31 193 1-15 Express Lanes Project Toll Policy Report EXPRESS LANES privately operated tour buses), vanpools, motorcycles, HOV 3+ vehicles, ZEVs, emergency vehicles, law enforcement vehicles, and operation and maintenance vehicles. The following discount policies are recommended for each of these vehicle types: • In-service public transit vehicles, private buses, vanpools, and motorcycles will be 100% discounted (toll free) at all times. • All HOV-3+ and zero -emission vehicles (ZEVs) will be 100% discounted (toll free) for the first three months of operation. The discount will be reduced to 50% if the average speed in the Express Lanes drops below 60 mph three or more times in a thirty day period after three months of operation. • Emergency, law enforcement and Express Lanes maintenance vehicles will be 100% discounted (toll free) at all times. 1-15 Express Lanes Project 32 194 1-15 Express Lanes Project Toll Policy Report EXPRESS LANES 21. Toll Payment Method Description: Electronic toll collection systems use automatic vehicle identification (AVI) technology to toll vehicles. These AVI systems use in -vehicle transponders and/or LPR cameras to identify vehicles for toll payment. Some facilities require that all vehicles have a transponder as the primary means of toll collection and use LPR cameras as a backup to capture vehicles that don't have a transponder or that have a transponder that fails to be detected. Other facilities allow vehicles to travel without a transponder and use LPR cameras as the primary means of toll collection; this system is known as pay by plate tolling. License -plate tolling equipment Craig F. Walker/The Denver Post Recommendation: Require all vehicles to have a transponder at time of travel. Background: Transponder -Based Toll Collection Electronic toll collection using transponders is a proven technology with high accuracy. The cost associated with the systems needed to process transponder transactions is lower than systems which allow for toll payment by license plate. In addition, as California transitions from the legacy battery - operated transponders to the new, less expensive 6C transponders, the cost for a transponder based toll collection system will decrease even further making transponder based toll collection a far more efficient method of collecting tolls. Most toll facilities that rely on transponders for toll collection also include LPR cameras to capture vehicles without a transponder to minimize revenue leakage. The license plate images are used to associate the transaction with a toll account when a transponder is not read or to look up the registered owner's address for collection of the toll through a toll violation process. As described in Section 23, HOVs are able to use switchable transponders to indicate their vehicle occupancy status and receive the appropriate toll discount. Pay by Plate Pay by plate utilizes LPR cameras and Optical Character Recognition technology to identify a vehicle's license plate number. The automatically generated plate number is independently verified and validated by toll operators in the customer service center, thereby increasing operational costs per toll transaction. This technology is currently being used on Transportation Corridor Agencies (TCA) toll facilities in Orange County, on all toll facilities in the Denver Metro Area (including express lanes), all Dallas / Ft. Worth area toll facilities (including express lanes), Loop 375 express lanes in El Paso, and on the SR-520 and 1-405 1-15 Express Lanes Project 33 195 1-15 Express Lanes Project Toll Policy Report EXPRESS LANES express lanes in the Seattle area. The license plate numbers are collected and the name and addresses of the registered users are requested from the state DMV, from which bills for all the tolls incurred during a specific period are aggregated and sent out to collect payment. Pay by plate tolling not only requires more processing costs, but it results in more revenue loss due to unidentifiable plates and registered owners and lengthens the amount of time to collect toll revenue. In a pay by plate scenario, HOVs are required to register their license plate in advance of making a trip so the toll system can apply the appropriate toll discount. Assessment: Because toll payment by transponder is a proven, accurate solution with a lower transaction cost as compared to pay by plate, it is recommended that RCTC open the 1-15 Express Lanes with a requirement that all vehicles have a transponder. Opening with a transponder requirement will encourage motorists to open an account and obtain a transponder. LPR cameras will be used to enforce this requirement and identify vehicles that don't carry a transponder. This policy also allows HOVs to declare their status using a switchable transponder as described in Section 23. 1-15 Express Lanes Project 34 196 1-15 Express Lanes Project Toll Policy Report EXPRESS LANES 22. Mobile Interface Description: Easy access to express lanes information is important to gain customer understanding and compliance. Most toll facilities across the country maintain a website where users can find information about the toll policies and access account information and many of these websites are accessible in a mobile format. In addition, some facilities provide mobile applications that allow users to review recent toll activity and pay tolls without a transponder. Recommendation: Implement Mobile Web for FasTrak® customers, but defer the Mobile Toll Payment Application. Background: Toll facilities across the country provide different mobile interfaces for customers as described below. Mobile Website Many websites currently include desktop and mobile versions. The mobile versions are intended to be viewed from a mobile device such as a smartphone or tablet and typically include the same functionality as the desktop site. A mobile website for express lanes could allow customers to access general express lane information (operating policies, requirements for use, etc.) and to access account information. Mobile Toll Payment Application Depending upon business rules, some toll facilities allow users to user mobile devices to pay tolls without the use of a transponder. For example, the TCA facilities in Southern California allow users to pay tolls from a mobile application within five days before or after a trip is made. Transportation Corridor Agency Mobile Application Interface Assessment: RCTC will require all users to carry a transponder (see Section 21), which is inconsistent with the idea of allowing users to pay tolls using a mobile application. Therefore, a Mobile Payment Application will not be deployed. However, users will have access to a mobile website to access Express Lanes information and to make changes or payments to their account. 1-15 Express Lanes Project 35 197 1-15 Express Lanes Project Toll Policy Report EXPRESS LANES 23. High Occupancy Vehicle Declaration Options Description: The primary function of HOV declaration is two -fold: 1) provide a mechanism to easily separate toll payers from those eligible to receive toll discounts, and 2) enable the efficient and effective enforcement of occupancy violations. Two methods of occupancy declaration were considered: the use of self -declaration lanes and switchable transponders. Recommendation: Identify HOV-3+ carpool customers via a switchable transponder. Background: There are different ways that express lanes can require toll -paying and toll -free vehicles to use the express lanes. In Southern California, the carpool declaration options generally fall under the "declaration lane" method (as used by the OCTA 91 Express Lanes and the Riverside 91 Express Lanes currently under construction), and the switchable transponder method (as deployed on the 1-110 and 1-10 ExpressLanes in Los Angeles County). Self -Declaration Lanes Many first generation express lanes involved conversion of pre-existing, barrier -separated HOV lanes with adequate right-of-way for positive separation between toll payers and carpoolers. Known as the "declaration lane" option, this was the mechanism designed and implemented on SR-91 in Orange County, the first express lanes facility which opened in 1995. It will also be utilized on the 91 Express Lanes that are under construction in Riverside County. Declaration lane solutions require eligible carpools to diverge from the main travel lanes to a separated lane at toll zones. These vehicles are charged an appropriate discounted or zero -value toll, and NOV 4 GOV a Single occupancy vehicles (SOV) lane tolling zone with separate declaration lane FHWA Office of Operation/ Proposed 1-95 (if present) occupancy is validated by enforcement personnel Managed Lanes via visual scan. Vehicles without a transponder are considered violators — the same as if they traveled through the main toll lanes without a transponder. Switchable Transponders This method provides a technological method for declaring carpool status on the express lanes through a "switchable" transponder, as implemented on 1-10 and 1-110 in Los Angeles. Switchable transponders allow the customer to self -declare their occupancy status on the transponder itself. The Los Angeles transponder transmits multiple identifications (IDs), in order to associate the correct toll for a vehicle 1-15 Express Lanes Project 36 198 1-15 Express Lanes Project Toll Policy Report EXPRESS LANES based upon its occupancy status. These IDs can be associated with a single occupancy vehicle, HOV-2, and HOV-3+ setting directly on the transponder. For compliant HOVs, the user declares the vehicle's status on the transponder (e.g., sliding the switch to "HOV2" or "HOV3+"), and the appropriate toll rate would be collected. If the same vehicle is being operated without the required occupancy, it would be required to declare appropriately on the transponder and the correct toll would be collected. If no transponder is present (or if it is malfunctioning), LPR (mounted on gantries or median poles) would be used to collect full toll payment from the user (regardless of occupancy status). Example Switchable Transponder Assessment: It is recommended that the 1-15 Express Lanes use switchable transponders for declaring occupancy. Switchable transponders have been successfully deployed on other toll facilities in the state and nationally. Also, as compared to declaration lanes, switchable transponders are more inexpensive to deploy and do not require drivers to make weaving maneuvers while in the Express Lanes, which may improve operational efficiency. With the enforcement strategy described in Section 11, CHP will have the tools necessary to enforce the proper use of the switchable transponder so that violation rates can be kept to a minimum. 1-15 Express Lanes Project 37 199 1-15 Express Lanes Project Toll Policy Report EXPRESS LANES 24. Express Lane Operations Facility Description: The 1-15 Express Lanes will require a facility to house various components of the operations, including a walk-in customer service center, customer call center, back office operations, image processing, finance and administration, system administration and maintenance and traffic management center. RCTC will provide the facility and the toll systems provider will supply the equipment, systems and staff to perform the services. Recommendation: Locate the call center, customer service center and traffic management center and administration in close proximity to the Express Lanes. Background: As described in Sections 12-14, RCTC will have the responsibility for 1-15 Express Lanes maintenance, traffic management and customer service functions. These functions would ideally be located in a single facility to centralize 1-15 Express Lanes operations and create synergies associated with co -located services. Four toll agencies operate in Southern California and each of them has a facility or facilities which house the toll operations functions. Toll programs across the nation have experimented with remote staff working from a contractor owned or sub -contracted facility. While this model has been successful for some, it has the potential to degrade service, complicate supervisory functions and prohibit the synergy gained from co -location of services. The 91 Express Lanes toll operations staff is being provided under a joint agreement with OCTA. The 91 Express Lanes call center and walk in staff are located at a leased facility near SR-91 and McKinley Street in the city of Corona. The other toll operation services are located in a leased facility near SR-91 and Weir Canyon Road in the city of Anaheim. RCTC's agreement with OCTA to share toll operation services expires in June of 2021. RCTC is currently procuring a toll operator for the 1-15 Express Lanes which will require operations staff, equipment and walk-in customer service location. a facility to house the toll operator and RCTC toll 1-15 Express Lanes Project 38 200 1-15 Express Lanes Project Toll Policy Report EXPRESS LANES Assessment: 1-15 Express Lanes operations and maintenance are the responsibility of RCTC. To ensure that the goals for the 1-15 Express Lanes are met, RCTC will be best served by co -locating the required services in a facility in close proximity to the 1-15 Express Lanes. The 91 Express Lanes have set the precedent for local operations and customer service. Therefore, it is recommended that the customer service, traffic management and other administrative functions be located in the local area adjacent to the 1-15 corridor, with a specific site to be determined. This facility will be referred to as the RCTC Operations Center, or ROC. 1-15 Express Lanes Project 39 201 RIVERSIDE COUNTY TRANSPORTATION COMMISSION 15 EXPRESSLANES 1OLLSCHEDULEADOP11ON Jennifer Crosson, Toll Operations Manager I4Z 15 ExpressLanesToll Policy Resolution (Adopted June 2016) Adopted dynamic pricing — Toll rates that vary in real-time based on actual travel conditions 2 I4Z EXORESS MIS Toll Schedule Adoption Requirements • SHC 149.8 and GC 66018 — Require adoption of fees by a resolution — Require a 30 day public review and comment — Require a public hearing 3 I4Z EXDRESS LANES Dynamic Pricing Overview • A complex computer algorithm • On road traffic detection system • Historical traffic data 4 1; EXORESS I MES Principles and Parameters • Achieve free flow speeds of 60-65 mph; • Consider traffic volume, density, speed, travel time, flow of traffic and historical traffic patterns; • Establish a toll rate for each segment; • Change toll rate no more than every three minutes; • Change in increments up to $3.00 per segment 5 I4Z EDAM LANES Minimum Toll Rate • 16.9 cents per mile • Southbound total $1.75 • Northbound total $ 1.70 • Annual CPI Index Adjustment fo 111 =gment 1 SB Approx.4.6 Miles Minimum Toll: $0.30 Segment 2 SB Approx.2.2 Miles Minimum To 50.40 Segment 3 SB Approx.5.0 Miles Minimum Toll:50.50 Eastvale Second Corona Segment 4 SB Approx.2..5 Miles Minimum Tol I: $0.5 5 LEGEND Express Lanes Project Limns > Express Lane Ingress Express Lane Egress Express LaneIngress/Egress ■ SAN IER NARDI NO CO RIVERSIDE CO Cantu-Galleano Ranch Rd. ■ Jurupa Valley Limonite Ave. xth St. Norco 101 Segment 4 NB Approx. 3.8 Miles Minimum Toll:50A5 Riverside Segment 3 NB Approx. 2.6 Miles Minimum Toll: $0.50 Hidden Valley Pkwy. Magnolia Ave. Ontario Ave. . El Cerrito Rd. Cajalco•d. t> Weirick Rd. 41 Segment 2 NB Approx. 5.1 Miles Minimum Toll:50.40 Approx. 2.9 Miles Minimum Toll:50.35 Dos Lagos Dr. A M.ip Nnt In 51 rill• 6 Overhead Toll Rate Signs • In advance of each entrance • The toll rate to the first exit and the next major exit or the end of the express lane EXPRESS LANES A FASTRAK TO Sixth St TO ONLY $ 0.75 $ 2.70 7 EXDRESS LANES Abnorma I Traffic Conditions a nd Suspension of Tolling • Holidays, incidents, construction, atypical occurrences • Temporary toll schedule or temporary suspension of tolling by Executive Director 8 I4Z EXDRESS LANES Sample Peak Toll Schedule Segment Southbound AM Northbound AM Southbound PM 1 2 3 4 $.65 to $1.25 $.35 $.75 to $3.10 $.40 to $2.10 $1.90 to $4.50 $2.40 to $6.00 $.40 to $3.85 $.55 to $3.95 $2.65 to $4.55 $1.45 to $3.25 $1.85 to $8.50 $2.00 to $5.50 Northbound PM $.50 to $2.95 $1.30 to $3.25 $.75 to $4.10 $.55 to $1.45 9 I4Z EXDRESS LANES Recommendation • Adopt 15 Toll Schedule Resolution 10 RIVERSIDE COUNTY TRANSPORTATION COMMISSION QUESTIONS?? AGENDA ITEM 7A MINUTES RIVERSIDE COUNTY TRANSPORTATION COMMISSION MEETING MINUTES Wednesday, May 13, 2020 1. CALL TO ORDER The Riverside County Transportation Commission was called to order by Chair Ben J. Benoit at 9:35 a.m. Pursuant to Governor Newsom's Executive Order N-29-20, (March 18, 2020), the Governing Board meeting was conducted via video conferencing and by telephone. 2. ROLL CALL Commissioners/Alternates Present Rusty Bailey Ben J. Benoit Brian Berkson Randall Bonner Joseph DeConinck Waymond Fermon Kathleen Fitzpatrick Raymond Gregory Rebecca Guirado Yxstain Gutierrez Berwin Hanna Jan Harnik Steven Hernandez Kevin Jeffries Linda Krupa Clint Lorimore Bob Magee Scott Matas Lisa Middleton Michael Naggar V. Manuel Perez* Dana Reed Wes Speake* Karen Spiegel Larry Smith Michael M. Vargas Chuck Washington Ted Weill Lloyd White Art Welch Russ Utz Scott Vinton Bill Zimmerman *Arrived after the meeting was called to order 3. PUBLIC COMMENTS There were no requests to speak from the public. 4. ADDITIONS / REVISIONS There were no additions or revisions to the agenda. Commissioners Absent Jeff Hewitt 202 Riverside County Transportation Commission Meeting Minutes May 13, 2020 Page 2 At this time, Commissioner Karen Spiegel joined the meeting. 5. CONSENT CALENDAR M/S/C (Berkson/Lorimore) to approve the following Consent Calendar items. 5A. APPROVAL OF MINUTES — APRIL 8, 2020 5B. QUARTERLY SALES TAX ANALYSIS Receive and file the sales tax analysis for Quarter 3, 2019 (3Q 2019). 5C. SINGLE SIGNATURE AUTHORITY REPORT Receive and file the Single Signature Authority report for the third quarter ended March 31, 2020. 5D. STATE AND FEDERAL LEGISLATIVE UPDATE Receive and file an update on state and federal legislation. 5E. FEDERAL TRANSIT ADMINISTRATION'S SECTION 5310 ENHANCED MOBILITY FOR SENIORS AND INDIVIDUALS WITH DISABILITIES PROGRAM FEDERAL FISCAL YEARS 2017/18 AND 2018/19 1) Adopt Resolution No. 20-007, "Resolution of the Riverside County Transportation Commission Certifying Project Consistency with the Public Transit -Human Services Transportation Coordinated Plan"; and 2) Direct staff to program the projects in the Federal Transportation Improvement Program (FTIP). 5F. LOW CARBON TRANSIT OPERATIONS PROGRAM Adopt Resolution No. 20-006 "Resolution of the Riverside County Transportation Commission Regarding Authorization for the Execution of the Certifications and Assurances and Authorized Agent Forms for the Low Carbon Transit Operations Program for Expanded Perris Valley Line Operations FY 21 Project in the Amount of $1,081,302". 203 Riverside County Transportation Commission Meeting Minutes May 13, 2020 Page 3 5G. CITIZENS AND SPECIALIZED TRANSIT ADVISORY COUNCIL MEMBERSHIP APPOINTMENTS Approve the appointments of 15 members to the Citizens and Specialized Transit Advisory Council (CSTAC) effective May 13, 2020. At this time, Commissioners V. Manuel Perez and Wes Speake joined the meeting. 6. APPROVAL OF AGREEMENT FOR CONSTRUCTION MANAGEMENT SERVICES, MATERIALS TESTING, AND CONSTRUCTION SURVEYING AND AUTHORIZATION TO USE 91 EXPRESS LANES SURPLUS TOLL REVENUE FOR CONSTRUCTION SUPPORT EXPENDITURES FOR THE STATE ROUTE 91 CORRIDOR OPERATIONS PROJECT IN ORANGE AND RIVERSIDE COUNTIES David Thomas, Toll Project Manager, presented the award of the construction management agreement for the 91 Corridor Operations Project, highlighting the following areas: • Project overview and background • Construction management procurement: o Qualification based selection o Procurement process o Evaluation committee shortlisted three firms to interview o Interviews conducted on February 27, 2020 o Scope of work, cost and schedule • Project update: o Project acceleration techniques - o PA&ED and PS&E Completed o Funding sources o Utility work authorized o Recent milestones o Construction schedule o Team effort In response to Commissioner Spiegel's inquiry if the Commission is unable to receive any State or Federal Grants for this project, Anne Mayer, Executive Director, replied there are federal formula dollars being processed through Caltrans and Federal Highway Administration (FHWA), which have already been designated for RCTC. She discussed the processing of the package, which currently rests with FHWA and stated this is for administrative approval, which will be approved in about one to two weeks. 204 Riverside County Transportation Commission Meeting Minutes May 13, 2020 Page 4 M/S/C (Spiegel/Berkson) to: 1) Award Agreement No. 20-31-033-00 to Falcon Engineering Services, Inc. to perform construction management services, materials testing, and construction surveying for the State Route 91 Corridor Operations Project (91 COP) in Orange and Riverside Counties in the amount of $4,456,957, plus a contingency amount of $445,695 for a total amount not to exceed $4,902,652; 2) Authorize the Chair or Executive Director, pursuant to legal counsel review, to finalize and execute the agreement on behalf of the Commission; 3) Authorize the Executive Director, or designee, to approve the use of the contingency amount as may be required for the 91 COP; and 4) Authorize the expenditure of 91 Express Lanes toll revenue designated as surplus in accordance with the 2013 Toll Revenue Bonds Indenture to fund the 91 COP construction support expenditures in the amount of $2 million. Abstain: Speake 7. REVISED FISCAL YEAR 2020 AND FISCAL YEAR 2021 REVENUE PROJECTIONS FOR MEASURE A, LOCAL TRANSPORTATION FUND, AND TRANSPORTATION UNIFORM MITIGATION FEE Theresia Trevino, Chief Financial Officer, presented the revised Fiscal Year 2020 and Fiscal Year 2021 Revenue Projections for Measure A, Local Transportation Fund (LTF), and Transportation Uniform Mitigation Fee (TUMF), highlighting the following: • COVID-19 Impact • Measure A Sales Tax: o Estimated COVID-19 impact on economic segments in each category o Determined one -month impact = $6.4 million decrease o Projected adjustment for 12-month period • Economic category impacts: Comparison of monthly revenue - Before and after COVID-19 • Revised Measure A, LTF, and TUMF Revenues • Future considerations • Preliminary FY 2020/21 Budget In response to Commission Scott Vinton's request for a copy of this presentation, Theresia Trevino replied staff will send it to the Commissioners. 205 Riverside County Transportation Commission Meeting Minutes May 13, 2020 Page 5 Commissioner Steven Hernandez stated this is obviously a result of COVID-19 and since the Commission approved not moving forward with the sales tax measure he suggested it may be the right time to look at where RCTC's projects stand in Riverside County, what projects are being funded and which projects are not, and what will the projects look like over the next four years in order to understand what the economic reality is. Anne Mayer replied staff has begun going through every project in Riverside County where RCTC has a direct contribution and based on the information received, most of those key projects will be able to continue. She stated it is uncertain at the state level, the California Transportation Commission is currently meeting to discuss Fund Estimates, and the Governor comes out tomorrow with the May Revise. Staff is anticipating the state will likely start deprogramming projects and once there is an understanding of what their process is staff can identify what projects will be impacted. She stated the projects in construction will be the highest priority and projects in the final stages will be next, and she highlighted the French Valley Parkway Phase II as well as the 71/91 projects could be affected by the state. There will probably be more of an impact seen in about six months or so and staff will come back to the Commission with an update. MAX (Spiegel/Smith) to: 1) Approve the revised mid -year Fiscal Year 2019/20 revenue projections of $178 million for 2009 Measure A (Measure A) revenues, $91 million for Local Transportation Fund (LTF) revenues and $16 million for Transportation Uniform Mitigation Fee (TUMF) revenues; 2) Approve the revised FY 2020/21 revenue projections of $160 million for Measure A revenues, $82 million for LTF revenues, and $11 million for TUMF revenues; 3) Approve the budget decrease adjustments to Measure A revenues of $24 million and expenditures of $9.91 million to reflect the revised FY 2019/20 Measure A projection; 4) Approve the budget decrease adjustments to LTF revenues of $12 million, transfers in of $360,000, and expenditures and transfers out of $450,000 to reflect the revised FY 2019/20 LTF projection; and 5) Approve the budget decrease adjustments to TUMF revenues of $11 million to reflect the revised FY 2019/20 TUMF projection. 8. ADOPTION OF TRAFFIC RELIEF PLAN FOR RIVERSIDE COUNTY Aaron Hake, External Affairs Director, presented an overview of the Traffic Relief Plan for Riverside County. Demi Espinoza, Policy Manager for Safe Routes Partnership, stated there are several things they support within the Traffic Relief Plan, but expressed concern for the plan's emphasis on highway expansion, lack of walking, biking, and Safe Routes to School 206 Riverside County Transportation Commission Meeting Minutes May 13, 2020 Page 6 improvements and therefore oppose its adoption. She suggested to request a delay in its adoption and offered two recommendations to move forward: 1) re-examine priorities and identify best practices for reducing congestion using local transit walking and biking investments; and 2) conduct emergency transportation needs assessments to better understand the travel demands for essential workers during COVID-19. She expressed concern about the framework of this plan in particular if the plan's target is to reduce congestion for residents it should not look to add projects to add more highway lanes. Ms. Espinoza suggested to expand transit and Metrolink as a way to combat traffic woes, and consider health and economic impacts due to COVID-19. At this time, Lisa Mobley, Clerk of Board, asked if Marvin Norman was available to speak on this item as he requested to speak at this meeting. Marvin Norman was not available for comment. In response to Commissioner Hernandez's inquiry about the adopted Traffic Relief Plan not being final and if the Commissioners will have an opportunity to consider whatever gets decided in the future if the Commission goes out for a measure, Aaron Hake concurred and stated if the Commission in the future decides to place a measure on the ballot it will have to adopt an expenditure plan. He explained this document does meet the requirements under state law as an expenditure plan and the Commission could amend it, change it or start over, but this is the planning document of the work that has been done over the last year. At this time, Commissioner Chuck Washington left the meeting. M/S/C (Zimmerman/Speake) to adopt the Traffic Relief Plan for Riverside County. 9. CONSTRUCTION ZONE SAFETY CAMPAIGN Cheryl Donahue, Public Affairs Manager, presented a construction zone safety campaign, highlighting the following: • Less traffic: No license to speed: Fewer drivers = large increase in 100+ citations; motorist entered 1-15 construction site at more than 100 mph, placed crews in danger, caused major damage; RCTC added CHP enforcement to 1-15 corridor; and launching safety campaign — reminding drivers to slow down, keep crews safe — 1-15, Route 60, Pachappa, Railroad Canyon construction zones • News media and social media, and safety messages on billboards • 1-15 enforcement • At this time, a safety video played in partnership with Caltrans, CHP, and RCTC M/S/C to receive and file an update about a construction zone safety campaign for the Interstate 15 Express Lanes and State Route 60 Truck Lanes project areas. 207 Riverside County Transportation Commission Meeting Minutes May 13, 2020 Page 7 10. ITEM(S) PULLED FROM CONSENT CALENDAR FOR DISCUSSION There were no items pulled from the Consent Calendar. 11. COMMISSIONERS/EXECUTIVE DIRECTOR'S REPORT 11A. Anne Mayer announced due to the COVID-19 impacts, staff is actively in conversation with member agencies, community groups, and economists sharing RCTC's data for making projections and developing strategies to help support the economy and get the Inland Empire and Riverside County back on track. 11B. Chair Benoit announced: • Having a hybrid June Commission meeting where there will be the ability for Commissioners to join by phone or some other means remotely and to have a presence at the County Building in the Board Room. • The May Committees are dark due to the Memorial Day Holiday. 12. CLOSED SESSION 12A. CONFERENCE WITH REAL PROPERTY NEGOTIATORS Pursuant to Government Code Section 54956.8 Agency Negotiator: Executive Director or Designee Item APN(s) Property Owner Buyer(s) 1 206 132 036 and 206-132-037 RCTC Greens Investment Group There were no announcements from the Closed Session Item. 208 Riverside County Transportation Commission Meeting Minutes May 13, 2020 Page 8 13. ADJOURNMENT There being no further business for consideration by the Riverside County Transportation Commission, Chair Benoit adjourned the meeting at 11:02 a.m. The next Commission meeting is scheduled to be held at 9:30 a.m., Wednesday, June 10, 2020, Board Chambers, First Floor, County Administrative Center, 4080 Lemon Street, Riverside. Respectfully submitted, Lisa Mobley Clerk of the Board 209 AGENDA ITEM 7B RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: June 10, 2020 TO: Riverside County Transportation Commission FROM: Theresia Trevino, Chief Financial Officer Michele Cisneros, Deputy Director of Finance THROUGH: Anne Mayer, Executive Director SUBJECT: Appropriations Limit for FY 2020/21 STAFF RECOMMENDATION: This item is for the Commission to adopt Resolution No. 20-009 "Resolution of the Riverside County Transportation Commission Establishing the Annual Appropriations Limit", for Fiscal Year 2020/21. BACKGROUND INFORMATION: Section 7910 of the California Government Code implements Article XIIIB of the California Constitution by requiring each local jurisdiction to establish, by resolution, its appropriations limit for each fiscal year and to make documentation used to determine the appropriations limit available to the public 15 days prior to adoption of the resolution establishing the appropriations limit. Staff performed the calculations necessary to determine the limit. The resolution and documents supporting the calculation are attached. The Commission chose to use the percentage change in the California per capita personal income and population change within Riverside County as the factors in determining the appropriations limit. As required, the adoption of the Commission's FY 2020/21 Appropriations Limit was posted in the Press Enterprise and the Desert Sun. Attachments: 1) Resolution No. 20-009 2) California Per Capita Income and Population, Riverside County — California Department of Finance Agenda Item 7B 210 ATTACHMENT 1 RESOLUTION NO. 20-009 "RESOLUTION OF THE RIVERSIDE COUNTY TRANSPORTATION COMMISSION ESTABLISHING THE ANNUAL APPROPRIATIONS LIMIT" WHEREAS, Article XIIIB of the California Constitution places an annual limitation upon appropriations from proceeds of taxes by each local government of the State of California; and WHEREAS, in 1988, pursuant to Article XIIIB, section 4 of the California Constitution, the Riverside County Transportation Commission established its appropriations limit at $75 million for fiscal year 1988-1989 under ordinance No. 88-1; and WHEREAS, Section 7910 of the California Government Code implements Article XIIIB of the California Constitution by requiring each local jurisdiction to establish, by resolution, its appropriations limit for each fiscal year and to make the documentation used in determining the appropriations limit available to the public fifteen days prior to adoption of the resolution establishing the appropriations limit; and WHEREAS, in accordance with Senate Constitutional Amendment No. 1 approved by the voters of the State effective June 6, 1990, beginning with fiscal year 1990-1991 and for each fiscal year thereafter, the Commission's Board of Commissioners is required to select either the percentage change in California per capita personal income or the percentage change in the local assessment roll due to the addition of local non- residential construction, and either the population change within the Commission or the population change within Riverside County, as the two factors to be applied in calculating the appropriations limit for each fiscal year; and WHEREAS, this Board wishes to select, as factors in determining the Commission's appropriation limit for fiscal year 2020-2021 the percentage change in California per capita personal income and also the population change within Riverside County; and WHEREAS, this Commission has documented its calculations of the Commission's appropriations limit for fiscal year 2020-2021 and said calculations have been made available to the public at least fifteen days prior to the adoption of this resolution. NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the Riverside County Transportation Commission as follows: 211 1. For fiscal year 2020-2021, the factors selected for calculating the appropriations limit are (a) the percentage change in California per capita personal income, and (b) the population change within the County of Riverside. 2. The appropriations limit applicable to this Agency pursuant to Article XIIIB of the California Constitution for fiscal year 2020-2021 are hereby established and determined to be $509,885,755. 3. A copy of the documentation used in the determination of the appropriations limit for fiscal year 2020-2021 shall be affixed hereto and shall be available for public inspection. 4. Pursuant to Section 7910 of the California Government Code, any judicial action or proceeding to attack, review, set aside, void, or annul the establishment of the appropriations limit as set forth herein must be commenced within forty-five days of the adoption of this resolution. ADOPTED this 10th day of June, 2020. Ben J. Benoit, Chair Riverside County Transportation Commission ATTEST: Lisa Mobley, Clerk of the Board Riverside County Transportation Commission 212 RIVERSIDE COUNTY TRANSPORTATION COMMISSION 2020/21 APPROPRIA11ONSLIMI1 2019/20 Appropriations Limit $ 487,698,077 2020/21 adjustment Change in California per capita personal income Per capita cost of living converted to a ratio: Change in population, Riverside County Population converted to a ratio: Calculation of factorfor FY2020/21: Percapita cost of living ratio Population ratio FY2020/21 factor 2019/20 Appropriations Limit FY2020/21 factor 3.73% 1.0373 0.79% 1.0079 1.0373 1.0079 1.0454947 $ 487,698,077 1.0454947 2020/21 Appropriations Limit $ 509,885,755 Source: California per capita income - California Department of Finance Population, Riverside County - California Department of Finance 213 ATTACHMENT 2 � r1T O A. 4. C1;I) * DEPARTMENT OF °a,,FGi,oP F I N A N C E OFFICE OF THE DIRECTOR GAVIN NEWS OM - GOVERNOR STATE CAPITOL IN Room 1 145 SACRAMENTD CA IN 9581 4-4998 N WWW.00F.CA.GOV May 2020 Dear Fiscal Officer: Subject: Price Factor and Population Information Appropriations Limit California Revenue and Taxation Code section 2227 requiresthe Department of Finance to transmit an estimate of the percentage change in population to local governments. Each local jurisdiction must use their percentage change in population factorforJanuary 1, 2020, in conjunction with a change in the cost of living, or price factor, to calculate theirappropriations limit forfiscal year2020-21. Attachment A providesthe change in Califomia'spercapita personal income and an example for utilizing the price factor and population percentage change factor to calculate the 2020-21 appropriations limit. Attachment Bprovidesthe city and unincorporated county population percentage change. Attachment C providesthe population percentage change forcountiesand their summed incorporated areas. lhe population percentage change data excludesfederal and state institutionalized populationsand military populations. Population Percent Change for Special Districts Some special districtsmust establish an annual appropriationslimit. California Revenue and Taxation Code section 2228 providesadditional information regarding the appropriationslimit. Article XIII B, section 9(C) of the California Constitution exemptscertain special districtsfrom the appropriationslimit calculation mandate. lhe code section and the California Constitution can be acceqyd at the following website: http://leginfo.legislature.ca.gov/faces/codes.xhtml. Special districtsrequired by law to calculate theirappropriationslimit must present the calculation aspart of their annual audit. Any questionsspecial districtshave on thisrequirement should be directed to their county, district legal counsel, orthe law itself. No state agency reviewsthe local appropriationslimits. Population Certification The population certification program appliesonly to citiesand counties. California Revenue and Taxation Code section 11005.6 mandates Finance to automatically certify any population estimate that exceedsthe current certified population with the State Controller'sOffice. Finance will certify the higher estimate to the State Controller by June 1, 2020. Please Note: The prioryear'scity population estimatesmay be revised. lhe per capita personal income change isbased on historical data. Given the stay-at-home ordersdue to COVID-19, growth in the coming yearsmay be substantially lowerthan recent trends. If you have any questionsregarding thisdata, please contact the Demographic Research Unit at (916) 323-4086. Keely Martin Bosler KEELY MARLIN BOSLER Director Attachment 214 May 2020 Attachment A A. Price Factor: Article XIII Bspecifiesthat local jurisdictionsselect theircost of living factorto compute theirappropriation limit by a vote of theirgoveming body. the cost of living factor provided here ispercapita personal income. If the percentage change in percapita personal income isselected, the percentage change to be used in setting the fiscal year2020-21 appropriation limit is Per Capita Personal Income Fscal Year (FY) Percentage change over prioryear 2020-21 3.73 B. Following isan example using sample population change and the change in Califomia percapita personal income asgrowth factorsin computing a 2020-21 appropriation limit. 2020-21: Per Capita Cost of Living Change = 3.73 percent Population Change = 0.22 percent Per Capita Cost of Living converted to a ratio: 3.73 + 100 = 1.0373 100 Population converted to a ratio: 0.22+ 100 = 1.0022 100 Calculation of factorfor FY2020-21: 1.0373 x 1.0022 = 1.0396 215 Fiscal Year2020-21 Attachment B Annual Percent Change in Population Minus Exclusions* January 1, 2019 to January 1, 2020 and Total Population, January 1, 2019 County Percent Change --- Population Minus Exclusions --- City 2019-2020 1-1-19 1-1-20 Five rsid e Total Population 1-1-2020 Banning -0.05 31,142 31,125 31,125 Beaumont 3.72 49,630 51,475 51,475 Blythe -0.37 13,710 13,659 19,255 Calimesa 5.65 8,830 9,329 9,329 Canyon Lake 0.05 10,995 11,000 11,000 Cathedral City 0.49 53,272 53,531 53,580 Coachella 0.64 46,885 47,186 47,186 Corona 0.91 166,723 168,248 168,248 Desert Hot firings -0.08 29,683 29,660 29,660 Eastvale 1.22 65,611 66,413 66,413 Hemet 0.02 85,159 85,175 85,175 Indian Wells 0.45 5,379 5,403 5,403 Indio 0.74 90,087 90,751 90,751 Jurupa Valley 0.91 106,115 107,083 107,083 Lake Osinore 0.47 63,009 63,308 63,453 La Quinta 0.67 40,389 40,660 40,660 Menifee 2.49 94,732 97,093 97,093 Moreno Valley 0.80 207,181 208,838 208,838 M u rrie to 1.20 114,193 115,561 115,561 Norco -0.06 24,006 23,991 27,564 Palm Desert 0.14 52,911 52,986 52,986 Palm S3rings 0.28 47,296 47,427 47,427 Perris 0.43 79,856 80,201 80,201 Rancho Mirage 1.21 18,886 19,114 19,114 Riverside 0.53 326,368 328,096 328,155 San Jacinto 1.18 50,431 51,028 51,028 Temecula 0.08 111,879 111,970 111,970 Wildomar 0.15 37,126 37,183 37,183 Unincorporated 0.79 382,077 385,084 385,388 County Total 0.79 2,413,561 2,432,578 2,442,304 "Exclusions includ e residentson federal military installations and group quarters residents in state mental institutions, state and federal correctional institutions and veteran homes. 216 AGENDA ITEM 7C RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: June 10, 2020 TO: Riverside County Transportation Commission FROM: Megan Kavand, Senior Financial Analyst Theresia Trevino, Chief Financial Officer THROUGH: Anne Mayer, Executive Director SUBJECT: Quarterly Investment Report STAFF RECOMMENDATION: This item is for the Commission to receive and file the Quarterly Investment Report for the quarter ended March 31, 2020. BACKGROUND INFORMATION: Prior to Fiscal Year 2013/14, the Commission's quarterly investment reports reflected investments primarily concentrated in the Riverside County Pooled Investment Fund. Other investments included the state Local Agency Investment Fund and mutual funds. As a result of significant project financings such as the State Route 91 Corridor Improvement Project (91 Project or 91 CIP) and the Interstate 15 Express Lanes Project (1-15 ELP), the Commission determined it would be prudent to engage an investment manager for the bond proceeds and other required funds. Additionally, the Commission desired to engage an investment manager to provide investment advisory and management services related to the Commission's operating funds. In May 2013, following a competitive procurement, the Commission awarded two investment management services agreements to Logan Circle Partners, L.P. (Logan) for the 91 Project's proceeds generated from the issuance of sales tax revenue bonds and toll revenue bonds and to Payden & Rygel Investment Management (Payden & Rygel) for Commission operating funds. At its April 2017 meeting and based on a competitive procurement, the Commission awarded an investment management services agreement to Logan related to the issuance of the sales tax revenue bonds for the 1-15 ELP. Commencing in July 2013, Logan invested the 91 Project debt proceeds and subsequent 91 Project equity contributions in separate accounts of the Short -Term Actively Managed Program (STAMP). Consistent with financing expectations, the Commission expended substantially all of the 91 Project debt proceeds and equity contributions, except for the toll revenue bonds debt service reserve, and subsequent to commencement of operations, established other required accounts. The Commission authorized Payden & Rygel to make specific investments for the Commission's operating funds beginning with the third quarter of Agenda Item 7C 217 FY 2014/15. In July 2017, the 1-15 ELP project and 91 Project completion financing (2017 Financing) was completed and sales tax bond proceeds were in accounts of a separate STAMP portfolio during the first quarter of FY 2017/18. In July 2017, MetLife, Inc. acquired Logan. The quarterly investment report for the second quarter of FY 2019/20, as required by state law and Commission policy, reflects the investment activities resulting from the 91 Project, 2017 Financing, and available operating cash. The quarterly investment report includes the following information: • Investment Portfolio Report; • 91 CIP STAMP Portfolio by Investment Category; • 91 CIP STAMP Portfolio by Account; • 91 CIP STAMP Portfolio Transaction Report by Account; • 91 CIP STAMP Portfolio Summary of investments by credit rating, industry group, asset class, security type, and market sector; • 91 CIP STAMP Portfolio Toll Revenue Series A & Series B Reserve Fund Summary of investments by credit rating, industry group, asset class, security type, and market sector; • 91 CIP STAMP Portfolio Residual Fund Required Retained Balance Summary of investments by credit rating, industry group, asset class, security type, and market sector; • 91 CIP STAMP Portfolio TIFIA Reserve Fund Summary of investments by credit rating, industry group, asset class, security type, and market sector; • 2017 Financing STAMP Portfolio by Investment Category; • 2017 Financing STAMP Portfolio by Account; • 2017 Financing STAMP Portfolio Transaction Report by Account; • 2017 Financing STAMP Portfolio Summary of investments by credit rating, industry group, asset class, security type, and market sector; • 2017 Financing STAMP Portfolio 1-15 ELP Sales Tax Senior Lien TIFIA Project Fund Summary of investments by credit rating, industry group, asset class, security type, and market sector; • 2017 Financing STAMP Portfolio Ramp Up Fund Summary of investments by credit rating, industry group, asset class, security type, and market sector; • MetLife Short Duration First Quarter 2020 Review; • Payden & Rygel Operating Portfolio by Investment Category; • Payden & Rygel Operating Portfolio Transaction Report; • Payden & Rygel Operating Portfolio First Quarter 2020 Review; and • County of Riverside Investment Report for the Quarter Ended March 31, 2020. The Commission's investments were in full compliance with the Commission's investment policy adopted on March 13, 2019, and investments securities permitted under the indenture for the Commission's sales tax revenue bonds and the master indentures for the Commission's toll revenue bonds. Additionally, the Commission has adequate cash flows for the next six months. Attachments: Agenda Item 7C 218 1) Investment Portfolio Report 2) 91 CIP STAMP Portfolio by Investment Category 3) 91 CIP STAMP Portfolio by Account 4) 91 CIP STAMP Portfolio Transaction Report by Account 5) 91 CIP STAMP Portfolio Summary of Investments 6) 91 CIP STAMP Portfolio Toll Revenue Series A & Series B Reserve Fund Summary of Investments 7) 91 CIP STAMP Portfolio Residual Fund Required Retained Balance Summary of Investments 8) 91 CIP STAMP Portfolio TIFIA Reserve Fund Summary of Investments 9) 2017 Financing STAMP Portfolio by Investment Category 10) 2017 Financing STAMP Portfolio by Account 11) 2017 Financing STAMP Portfolio Transaction Report by Account 12) 2017 Financing STAMP Portfolio Summary of Investments 13) 2017 Financing STAMP Portfolio 1-15 ELP Sales Tax Senior Lien TIFIA Project Fund Summary of Investments 14) 2017 Financing STAMP Portfolio Ramp Up Fund Summary of Investments 15) Payden & Rygel Operating Portfolio by Investment Category 16) Payden & Rygel Operating Portfolio Transaction Report 17) MetLife Short Duration Quarterly Review 18) Payden & Rygel Operating Portfolio Quarterly Review 19) County of Riverside Investment Report Agenda Item 7C 219 ATTACHMENT 1 Riverside County Transportation Commission Investment Portfolio Report Period Ended: March 31, 2020 RATING COUPON PAR PURCHASE MATURITY YIELD TO PURCHASE MARKET UNREALIZED FAIR VALUE MOODYS / S&P RATE VALUE DATE DATE MATURITY COST VALUE GAIN (LOSS) OPERATING FUNDS City National Bank Deposits 40,698,177 A3/BBB+ N/A N/A County Treasurer's Pooled Investment Fund 534,712,087 Aaa-bf/AAA-V1 N/A 1.69% Local Agency Investment Fund (LAIF) 3,870,628 N/A N/A N/A Subtotal Operating Funds 579,280,892 FUNDS HELD IN TRUST County Treasurer's Pooled Investment Fund: Local Transportation Fund 61,714,825 Aaa-bf/AAA-V1 N/A 1.69% Subtotal Funds Held in Trust 61,714,825 COMMISSION MANAGED PORTFOLIO US Bank Payden & Rygel Operating 54,707,919 See attached report for details First American Government Obligation Fund 58,532,207 N/A N/A Subtotal Commission Managed Portfolio 113,240,126 STAMP PORTFOLIO for 91 CIP Series A & Series B Reserve Fund Residual Fund Required Retained Balance TIFIA Reserve Fund Subtotal STAMP Portfolio - 91 CIP STAMP PORTFOLIO for 2017 Financing Sales Tax 115 ELP Project Revenue Fund Ramp Up Fund Subtotal STAMP Portfolio -2017 Financing TOTAL All Cash and Investments $700,000,000 $600,000,000 $500,000,000 $400,000,000 $300,000,000 $200,000,000 $100,000,000 3.02% 2.35% 19,080,313 26,621,856 20,732,372 66,434,541 52,475,982 8,436,457 60,912,438 $ 881,582,821 12.85% 7.00% 65.71 % Nature of Investments • STAMP Portfolio for 91 CIP Reserve • STAMP Portfolio for 91 CIP Residual Fund • STAMP Portfolio for 91 CIP TIFIA Reserve Fund • STAMP Portfolio for 2017 Financing 115 ELP Project Revenue Fund • STAMP Portfolio for 2017 Financing Ramp Up Fund • Commission Managed Portfolio • Trust Funds • Operating Funds See attached report for details See attached report for details See attached report for details See attached report for details See attached report for details N/A 0.39% Money Market Funds 20.26% Fixed Income 0.44% LAIF 6.64% Mutual Funds 72.27% County Pool/Cash 220 ATTACHMENT 2 RIVERSIDE COUNTY TRANSPORTATION COMMISSION 91 CIP STAMP Portfolio by Investment Category for quarter ended March 31, 2020 Source Account Account Identifier Security Type Category Issuer Final Maturity Trade Date Current Face Value Next Call Original Cost Date Base Market Value Base Net Total Unrealized Gain/Loss Coupon Summarized Yield Credit Rating 256350023 MIM-Sr Lien Reserve Fund-1 3137EADB2 Agency Freddie Mac 01/13/2022 --- 950,000.00 942,921.50 -- 983,316.50 33,531.97 2.375 0.399 AAA 256350023 MIM-Sr Lien Reserve Fund-1 3137EADR7 Agency Freddie Mac 05/01/2020 05/15/2015 150,000.00 148,903.50 -- 150,136.50 155.37 1.375 0.281 AAA 256350023 MIM-Sr Lien Reserve Fund-1 3135G0D75 Agency Federal National Mortgage Association 06/22/2020 05/06/2015 600,000.00 593,490.00 --- 601,686.00 1,982.15 1.500 0.249 AAA 256350023 MIM-Sr Lien Reserve Fund-1 3I30AFFX0 Agency Federal Home Loan Banks 11/16/2028 09/11/2019 185,000.00 205,766.25 -- 218,660.75 14,046.03 3.250 1.039 AAA 256350018 MIM-RCTC 91 TIFIA Reserve 3137EADB2 Agency Freddie Mac 01/13/2022 06/06/2019 500,000.00 505,766.50 --- 517,535.00 13,548.00 2.375 0.399 AAA 256350018 MIM-RCTC 91 TIFIA Reserve 3137EADR7 Agency Freddie Mac 05/01/2020 06/07/2019 175,000.00 173,909.75 -- 175,159.25 260.33 1.375 0.281 AAA 256350018 MIM-RCTC 91 TIFIA Reserve 3135GOD75 Agency Federal National Mortgage Association 06/22/2020 06/07/2019 650,000.00 646,269.00 -- 651,826.50 2,639.53 1.500 0.249 AAA 256350018 MIM-RCTC 91 TIFIA Reserve 3I30AFFX0 Agency Federal Home Loan Banks 11/16/2028 09/11/2019 200,000.00 222,450.00 -- 236,390.00 15,184.90 3.250 1.039 _ AAA 256350023 MIM-Sr Lien Reserve Fund-1 3136A72D3 Agency CMO Federal National Mortgage Association 04/25/2022 07/03/2013 214,016.23 203,315.42 --- 217,543.22 5,334.25 2.482 1.373 AAA 256350023 MIM-Sr Lien Reserve Fund-1 3137AUPE3 Agency CMO Freddie Mac 06/25/2022 --- 150,000.00 151,611.80 --- 153,297.00 2,749.05 2.396 1.262 AAA 256350023 MIM-Sr Lien Reserve Fund-1 38377RSZ9 Agency CMO Government National Mortgage Association 06/16/2039 --- 10,305.56 10,629.04 --- 10,353.89 20.59 4.500 0.146 AAA 256350023 MIM-Sr Lien Reserve Fund-1 38377JZ89 Agency CMO Government National Mortgage Association 10/20/2039 --- 56,766.92 58,313.00 --- 59,398.63 1,566.00 3.500 0.788 AAA 256350023 MIM-Sr Lien Reserve Fund-1 38376T5Z1 Agency CMO Government National Mortgage Association 01/16/2039 01/26/2015 57,783.68 60,369.50 --- 60,706.96 1,362.88 3.000 0.734 AAA 256350023 MIM-Sr Lien Reserve Fund-1 38378TAF7 Agency CMO Government National Mortgage Association 07/20/2041 07/05/2013 95,617.05 95,631.46 --- 99,325.08 3,767.77 2.500 0.747 AAA 256350023 MIM-Sr Lien Reserve Fund-1 38380AZ34 Agency CMO Government National Mortgage Association 04/20/2046 11/28/2016 120,581.71 123,958.94 --- 128,496.69 4,978.40 3.000 1.797 AAA 256350023 MINI -Sr Lien Reserve Fund-1 38378CRT6 Agency CMO Government National Mortgage Association 10/20/2040 05/22/2014 38,738.70 37,407.05 --- 40,017.85 2,216.93 2.000 0.708 AAA 256350023 MIM-Sr Lien Reserve Fund-1 38376WA62 Agency CMO Government National Mortgage Association 10/20/2039 --- 160,762.90 164,807.05 --- 171,606.36 6,299.81 4.000 1.846 AAA 256350023 MINI -Sr Lien Reserve Fund-1 38377RVK8 Agency CMO Government National Mortgage Association 04/20/2039 --- 82,892.62 84,546.40 --- 85,898.30 2,182.80 3.000 1.204 AAA 256350023 MIM-Sr Lien Reserve Fund-1 3137AXHP1 Agency CMO Freddie Mac 09/25/2022 09/29/2017 140,000.00 142,089.06 --- 144,048.80 3,118.34 2.573 1.270 AAA 256350023 MIM-Sr Lien Reserve Fund-1 3137ATRW4 Agency CMO Freddie Mac 05/25/2022 _ --- 282,110.00 278,085.13 --- 287,859.40 8,111.34 2.373 1.263 AAA 256350023 MIM-Sr Lien Reserve Fund-1 38378B7F0 Agency CMO Government National Mortgage Association 12/16/2042 --- 450,000.00 427,324.22 --- 451,728.00 13,660.70 2.273 2.170 AAA 256350023 MIM-Sr Lien Reserve Fund-1 38378CDK0 Agency CMO Government National Mortgage Association 03/20/2035 03/16/2018 4,943.62 4,966.79 --- 4,959.19 17.21 3.000 0.508 AAA 256350023 MIM-Sr Lien Reserve Fund-1 38378AWX5 Agency CMO Government National Mortgage Association 01/20/2036 03/28/2018 38,833.61 39,042.94 --- 39,256.50 379.44 3.000 0.595 AAA 256350023 MINI -Sr Lien Reserve Fund-1 38378DDC6 Agency CMO Government National Mortgage Association 04/20/2038 06/20/2018 25,736.60 25,910.52 --- 25,820.50 85.16 3.500 0.557 AAA 256350023 MIM-Sr Lien Reserve Fund-1 31398QTP2 Agency CM0 Freddie Mac 05/15/2038 06/26/2018 11,249.04 11,469.19 --- 11,277.17 17.30 4.500 0.641 AAA 256350023 MINI -Sr Lien Reserve Fund-1 38379HLE3 Agency CMO Government National Mortgage Association 05/20/2043 10/18/2018 63,167.17 63,078.34 --- 65,227.05 2,157.84 3.500 0.158 _ AAA 256350023 MIM-Sr Lien Reserve Fund-1 38378VC45 Agency CMO Government National Mortgage Association 12/16/2041 11/23/2018 125,495.83 120,966.22 --- 128,881.71 7,296.53 2.250 1.222 AAA 256350023 MIM-Sr Lien Reserve Fund-1 38377JM59 Agency CMO Government National Mortgage Association 10/20/2039 11/21/2018 62,036.66 60,485.74 --- 63,416.97 2,649.97 2.500 1.174 AAA 256350023 MIM-Sr Lien Reserve Fund-1 3136A5KR6 Agency CMO Federal National Mortgage Association 10/25/2022 01/25/2019 41,139.41 40,573.75 --- 41,301.92 504.91 1.750 0.893 AAA 256350023 MIM-Sr Lien Reserve Fund-1 38378HXH4 Agency CMO Government National Mortgage Association 09/16/2027 03/08/2019 13,661.46 13,249.33 --- 13,784.96 486.35 1.250 0.807 AAA 256350023 MIM-Sr Lien Reserve Fund-1 3137B5A60 Agency CMO Freddie Mac 10/15/2028 03/20/2019 20,448.54 20,218.49 --- 21,002.89 744.20 2.500 1.146 AAA 256350023 MIM-Sr Lien Reserve Fund-1 _ 3137B4HD1 Agency CMO Freddie Mac 12/15/2042 03/20/2019 32,818.02 33,894.86 --- 34,847.81 1,023.27 4.500 1.115 AAA 256350023 MIM-Sr Lien Reserve Fund-1 38375XCM4 Agency CMO Government National Mortgage Association 11/16/2037 05/14/2019 51,617.65 53,079.48 --- 53,984.84 1,216.77 5.000 1.156 AAA 256350023 MINI -Sr Lien Reserve Fund-1 3I36ADFF1 Agency CMO Federal National Mortgage Association 04/25/2023 06/10/2019 102,585.24 101,110.58 --- 103,237.68 1,882.53 1.500 0.885 AAA 256350023 MIM-Sr Lien Reserve Fund-1 3137ABFH9 Agency CMO Freddie Mac 06/25/2021 07/22/2019 100,000.00 102,574.22 --- 102,544.00 924.18 3.989 1.203 AAA 256350023 MINI -Sr Lien Reserve Fund-1 38377REV3 Agency CMO Government National Mortgage Association 10/20/2039 07/01/2019 66,398.13 67,715.72 --- 69,024.18 1,490.34 3.500 0.915 AAA 256350023 MIM-Sr Lien Reserve Fund-1 38377QKH9 Agency CMO Government National Mortgage Association 08/20/2040 08/20/2019 43,825.94 44,622.00 --- 46,022.50 1,430.14 3.000 0.894 AAA 256350023 MIM-Sr Lien Reserve Fund-1 _ 38376GY53 _ Agency CMO Government National Mortgage Association 01/16/2040 08/06/2019 59,409.95 59,597.92 --- 59,792.55 319.70 3.526 2.173 AAA 256350023 MIM-Sr Lien Reserve Fund-1 38379JM99 Agency CMO Government National Mortgage Association 02/16/2041 08/28/2019 45,823.55 46,118.91 --- 47,496.57 1,412.44 2.500 0.385 AAA 256350023 MIM-Sr Lien Reserve Fund-1 38374C4J7 Agency CMO Government National Mortgage Association 07/20/2020 10/21/2019 10,497.95 10,583.25 --- 10,547.60 17.90 5.500 0.617 AAA 256350023 MIM-Sr Lien Reserve Fund-1 38378JZD7 Agency CMO Government National Mortgage Association 12/20/2040 10/16/2019 36,902.10 36,440.82 --- 37,357.47 887.25 1.500 0.733 AAA 256350023 MINI -Sr Lien Reserve Fund-1 3137BDKF2 Agency CMO Freddie Mac 09/15/2040 11/13/2019 56,032.25 57,323.62 --- 58,144.67 923.03 3.500 1.077 AAA 256350023 MIM-Sr Lien Reserve Fund-1 3137A5FP4 Agency CMO Freddie Mac 01/15/2021 --- 60,177.31 60,184.12 --- 60,805.56 663.57 2.500 0.697 AAA 256350023 MINI -Sr Lien Reserve Fund-1 38378FRB8 Agency CMO Government National Mortgage Association 07/20/2042 12/30/2019 185,575.11 182,849.47 --- 189,993.65 7,113.07 2.000 1.430 AAA 256350023 MIM-Sr Lien Reserve Fund-1 38378CNY9 Agency CMO Government National Mortgage Association 11/20/2038 02/04/2020 110,000.00 110,721.88 --- 111,607.10 1,023.17 3.500 0.773 AAA 256350023 MIM-Sr Lien Reserve Fund-1 38376TTT9 Agency CMO Government National Mortgage Association 11/20/2039 01/29/2020 46,261.98 47,346.24 --- 48,412.23 1,087.19 3.000 0.832 AAA 256350021 MIM-RCTC 2013 Residual Fund 38378CDK0 Agency CMO Government National Mortgage Association 03/20/2035 01/30/2018 8,898.51 8,980.54 --- 8,926.54 24.34 3.000 0.508 AAA 256350021 MIM-RCTC 2013 Residual Fund 38378AWX5 _ Agency CMO Government National Mortgage Association 01/20/2036 01/30/2018 12,944.54 13,069.93 --- 13,085.50 107.69 3.000 0.595 AAA 256350021 MIM-RCTC 2013 Residual Fund 31397LUK3 Agency CMO Federal National Mortgage Association 06/25/2023 10/10/2018 98,253.76 100,234.19 --- 101,259.34 2,085.39 4.500 0.800 AAA 256350021 MIM-RCTC 2013 Residual Fund 3136A5KR6 Agency CMO Federal National Mortgage Association 10/25/2022 01/25/2019 63,196.09 62,327.14 --- 63,445.71 775.62 1.750 0.893 AAA 256350021 MIM-RCTC 2013 Residual Fund 3137ABFH9 Agency CMO Freddie Mac 06/25/2021 03/15/2019 206,000.00 209,846.41 --- 211,240.64 3,202.62 3.989 1.203 AAA 256350021 MINI-RCTC 2013 Residual Fund 38378BXQ7 Agency CMO Government National Mortgage Association 01/16/2036 06/17/2019 61,446.05 60,831.59 --- 61,215.01 (0.61) 1.537 3.263 AAA 256350021 MIM-RCTC 2013 Residual Fund 3137A2PV7 Agency CMO Freddie Mac 09/15/2022 06/03/2019 25,972.36 25,517.84 --- 26,230.53 625.17 1.500 0.789 AAA 256350021 MINI-RCTC 2013 Residual Fund 3137A1N90 Agency CMO Freddie Mac 06/25/2020 06/26/2018 35,471.41 35,795.64 --- 35,478.15 52.64 3.531 1.559 AAA 256350021 MIM-RCTC 2013 Residual Fund 31394GUX9 Agency CMO Freddie Mac 08/15/2023 07/02/2019 25,556.66 26,642.82 --- 26,989.37 519.46 5.500 1.159 AAA 256350021 MIM-RCTC 2013 Residual Fund 3136A72D3 Agency CMO Federal National Mortgage Association 04/25/2022 07/26/2019 29,799.72 29,974.13 --- 30,290.82 313.92 2.482 1.373 AAA 256350021 MIM-RCTC 2013 Residual Fund 38377REV3 Agency CMO Government National Mortgage Association 10/20/2039 07/01/2019 142,281.71 145,105.10 --- 147,908.95 3,193.59 3.500 0.915 AAA 256350021 MIM-RCTC 2013 Residual Fund 3137AYCE9 Agency CMO Freddie Mac 10/25/2022 08/13/2019 360,000.00 367,790.63 --- 371,710.80 5,585.81 2.682 1.269 AAA 256350021 MIM-RCTC 2013 Residual Fund 3137GAUY1 Agency CMO Freddie Mac 10/15/2022 08/15/2019 133,983.80 132,602.09 --- 135,004.75 2,200.79 1.500 0.892 AAA 256350021 MINI-RCTC 2013 Residual Fund 3137A1LC5 Agency CMO Freddie Mac 08/15/2020 01/17/2018 304.42 303.42 --- 304.39 0.32 2.000 1.111 AAA 256350021 MIM-RCTC 2013 Residual Fund 3137ATRW4 Agency CMO Freddie Mac 05/25/2022 08/19/2019 100,000.00 101,109.38 --- 102,038.00 1,218.40 2.373 1.263 AAA 256350021 MINI-RCTC 2013 Residual Fund 3136A1HC2 Agency CMO Federal National Mortgage Association 01/25/2023 01/02/2020 19,395.28 19,536.96 --- 19,590.79 92.21 3.500 0.744 AAA 256350021 MIM-RCTC 2013 Residual Fund 3137A5FP4 Agency CMO Freddie Mac 01/15/2021 01/30/2018 21,512.21 21,565.99 --- 21,736.80 217.85 2.500 0.697 AAA 256350021 MIM-RCTC 2013 Residual Fund 38378PPK8 Agency CMO Government National Mortgage Association 12/20/2038 01/08/2020 97,231.95 97,919.41 --- 100,514.50 2,624.72 2.500 0.530 AAA 256350021 MIM-RCTC 2013 Residual Fund 3137AH6C7 Agency CMO Freddie Mac 07/25/2021 03/11/2020 38,107.20 38,845.53 --- 39,037.01 216.51 3.230 0.994 AAA 256350021 MIM-RCTC 2013 Residual Fund 3137ADTJ6 Agency CMO Freddie Mac 04/25/2021 03/11/2020 480,742.86 490,583.07 --- 491,223.05 1,102.10 3.871 1.182 AAA 256350018 MIM-RCTC 91 TIFIA Reserve 3137AH6C7 Agency CMO Freddie Mac 07/25/2021 06/07/2019 333,437.97 339,338.26 --- 341,573.86 4,548.51 3.230 0.994 AAA 256350018 MIM-RCTC 91 TIFIA Reserve 3137ABFH9 Agency CMO Freddie Mac 06/25/44 , --- 149,000.00 152,765.01 --- 152,790.56 1,550.28 3.989 1.203 AAA Page 2 of 45 OFRIVERSIDE COUNTY TRANSPORTATION COMMISSION 91 CIP STAMP Portfolio by Investment Category for quarter ended March 31, 2020 Source Security Type 2▪ 56▪ 350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve Ld GTP114f. YZT,.,m• wrTT,• R. rfl,.,tl 1R••.n 1LT• :LT7iI ETJ TSi L1rT, '.nTI R• • •T,• RtY7.S.Ha!LTirT 3136ADFF1 3136A5KR6 3137AS7D0 38376PRM4 3137B6DF5 31397ALN1 38378BXQ7 3136AGFQ0 3137B3HX9 Agency CMO Agency CMO Agency CMO Agency CMO Agency CMO Agency CMO Agency CMO Agency CMO Agency CMO Federal National Mortgage Association Federal National Mortgage Association Freddie Mac Government National Mortgage Association Freddie Mac Freddie Mac Government National Mortgage Association Federal National Mortgage Association Freddie Mac 256350018 MIM-RCTC 91 TIFIA Reserve 38377YTL4 Agency CMO Government National Mortgage Association 256350018 MIM-RCTC 91 TIFIA Reserve 38378WUY7 Agency CMO Government National Mortgage Association 256350018 MIM-RCTC 91 TIFIA Reserve 38378BSZ3 Agency CMO Government National Mortgage Association 256350018 MIM-RCTC 91 TIFIA Reserve 3137B1UG5 Agency CMG Freddie Mac 256350018 MIM-RCTC 91 TIFIA Reserve 3137BDKF2 Agency CMO Freddie Mac 256350018 MIM-RCTC 91 TIFIA Reserve 3136AGZA3 Agency CMG Federal National Mortgage Association 256350018 MIM-RCTC 91 TIFIA Reserve 38378CNY9 Agency CMO Government National Mortgage Association 256350018 MIM-RCTC 91 TIFIA Reserve 3137AUPE3 Agency CMO Freddie Mac 256350018 MIM-RCTC 91 TIFIA Reserve 3137ATRW4 Agency CMO Freddie Mac 04/25/2023 06/10/2019 10/25/2022 06/10/2019 04/15/2039 06/14/2019 05/20/2038 06/18/2019 11/15/2026 06/18/2019 04/15/2032 06/18/2019 01/16/2036 06/17/2019 12/25/2038 06/18/2019 07/15/2038 06/20/2019 05/20/2040 06/17/2019 06/20/2041 06/12/2019 04/16/2040 06/25/2019 01/25/2023 06/25/2019 09/15/2040 09/25/2030 06/25/2019 11/20/2038 06/25/2019 06/25/2022 06/28/2019 05/25/2022 06/28/2019 108,619.66 123,913.90 151,938.09 11,713.60 161,399.87 141,168.82 82,952.17 146,501.74 77,738.06 107,058.26 122,984.55 150,798.55 11,772.17 159,722.82 141,080.60 82,122.65 148,350.18 77,495.13 186,247.60 183,977.71 145,961.28 146,189.35 184,641.26 183,602.66 200,000.00 204,101.56 64,884.06 66,243.77 25,483.97 25,654.20 200,000.00 202,593.75 200,000.00 201,773.44 300,000.00 302,496.09 109,310.48 124,403.36 153,989.25 11,763.27 164,618.18 141,085.53 82,640.27 150,107.15 77,829.01 189,965.10 149,321.31 184,726.20 1,993.27 1,147.76 3,023.76 44.12 4,716.65 430.95 (0.83) 2,098.03 752.76 1.500 1.750 2.000 4.000 2.000 1.055 1.537 3.500 1.155 0.885 0.893 0.790 -0.264 0.917 1.464 3.263 1.253 1.304 AAA AAA AAA AAA AAA AAA AAA AAA AAA 5,847.88 2.000 1.052 AAA 3,195.16 2.500 0.694 AAA 947.12 2.141 2.034 AAA 206,780.00 3,638.72 2.637 1.277 AAA 67,330.19 1,288.23 3.500 1.077 AAA 26,076.47 202,922.00 456.63 3.000 1.174 AAA 1,874.50 3.500 0.773 AAA 204,396.00 3,157.58 2.396 1.262 AAA 306,114.00 4,407.08 2.373 1.263 AAA 256350018 MIM-RCTC 91 TIFIA Reserve 3137AXHP1 Agency CMO Freddie Mac 256350018 MIM-RCTC 91 TIFIA Reserve 38374C4J7 Agency CMO Government National Mortgage Association 256350018 MIM-RCTC 91 TIFIA Reserve 38377REV3 Agency CMG Government National Mortgage Association 256350018 MIM-RCTC 91 TIFIA Reserve 38378TAF7 Agency CMO Goverment National Mortgage Association 256350018 MIM-RCTC 91 TIFIA Reserve 38377QKH9 Agency CMG Government National Mortgage Association 256350018 MIM-RCTC 91 TIFIA Reserve 3137A2B26 Agency CMO Freddie Mac 256350018 MIM-RCTC 91 TIFIA Reserve 38376V2E6 Agency CMG Government National Mortgage Association 256350018 MIM-RCTC 91 TIFIA Reserve 38376GY53 Agency CMO Government National Mortgage Association 256350018 MIM-RCTC 91 TIFIA Reserve 38379JM99 Agency CMO Government National Mortgage Association 256350018 MIM-RCTC 91 TIFIA Reserve 38378JZD7 Agency CMO Government National Mortgage Association 256350018 MIM-RCTC 91 TIFIA Reserve 3137A6B27 Agency CMO Freddie Mac 256350018 MIM-RCTC 91 TIFIA Reserve 38377RED3 Agency CMO Government National Mortgage Association 256350018 MIM-RCTC 91 TIFIA Reserve 38376WA62 Agency CMG Government National Mortgage Association 256350018 MIM-RCTC 91 TIFIA Reserve 38378FRB8 Agency CMO Government National Mortgage Association 256350018 MIM-RCTC 91 TIFIA Reserve 38377JZ89 Agency CMG Government National Mortgage Association 256350018 MIM-RCTC 91 TIFIA Reserve 3137B5A60 Agency CMO Freddie Mac 256350018 MIM-RCTC 91 TIFIA Reserve 383761TT9 Agency CMG Government National Mortgage Association 256350023 MIM-Sr Lien Reserve Fund-1 38379KDN5 Agency MBS Government National Mortgage Association 09/25/2022 06/28/2019 07/20/2020 06/14/2019 150,000.00 152,232.42 23,804.10 24,086.77 154,338.00 2,683.61 2.573 1.270 AAA 23,916.69 50.80 5.500 0.617 AAA 10/20/2039 07/01/2019 71,140.85 72,552.56 73,954.47 1,596.79 3.500 0.915 AAA 07/20/2041 07/05/2019 08/20/2040 08/20/2019 08/25/2020 06/13/2019 07/16/2039 08/06/2019 01/16/2040 08/06/2019 02/16/2041 08/28/2019 12/20/2040 10/16/2019 10/25/2020 06/27/2019 12/16/2025 12/11/2019 10/20/2039 12/17/2019 07/20/2042 12/30/2019 10/20/2039 01/28/2020 10/15/2028 02/07/2020 11/20/2039 01/29/2020 09/16/2055 08/05/2015 103,585.13 103,779.36 47,285.88 48,144.79 167,343.55 169,330.75 106,316.96 110,636.09 65,832.65 66,040.95 49,348.44 49,666.51 39,208.47 38,718.37 244,310.56 249,693.01 191,725.99 193,253.81 89,395.50 93,781.46 195,884.84 193,007.78 65,500.30 66,933.12 18,670.40 18,845.44 50,284.76 51,463.30 101,124.95 98,541.52 107,602.17 3,853.35 2.500 0.747 AAA 49,655.85 1,543.04 3.000 0.894 AAA 168,123.37 526.07 3.808 1.435 AAA 113,279.66 2,987.53 4.000 0.768 AAA 66,256.61 354.26 3.526 2.173 AAA 51,150.15 1,521.09 2.500 0.385 AAA 39,692.31 245,893.69 197,339.73 942.70 1.500 0.733 AAA (572.21) 4.333 2.184 AAA 4,144.99 2.500 0.875 AAA 95,425.23 1,691.83 4.000 1.846 AAA 200,548.85 7,508.23 2.000 1.430 AAA 68,536.89 1,615.28 3.500 0.788 AAA 19,176.55 334.10 2.500 1.146 AAA 52,622.00 1,181.74 3.000 0.832 AAA 102,523.51 2,056.22 2.185 2.258 AAA 256350023 MIM-Sr Lien Reserve Fund-1 36202F2H8 Agency MBS Government National Mortgage Association 256350023 MIM-Sr Lien Reserve Fund-1 38378XP62 Agency MBS Government National Mortgage Association 01/20/2027 05/16/2055 05/14/2015 125,166.78 129,010.95 241,068.83 244,044.52 130,447.57 2,470.32 3.000 1.259 AAA 245,504.50 2,123.50 2.500 2.045 AAA 256350023 MIM-Sr Lien Reserve Fund-1 38378KWU9 Agency MBS Government National Mortgage Association 256350023 MIM-Sr Lien Reserve Fund-1 3138EJPZ5 Agency MBS Federal National Mortgage Associatio 11/16/2041 07/01/2022 08/29/2016 155,147.47 147,425.63 195,801.84 207,970.62 153,139.86 2,795.47 1.400 2.010 AAA 203,665.25 1,978.96 3.022 0.763 AAA 256350023 MIM-Sr Lien Reserve Fund-1 31381T4E7 Agency MBS Federal National Mortgage Association 256350023 MIM-Sr Lien Reserve Fund-1 3136A7MN9 Agency MBS Federal National Mortgage Associatio 03/01/2022 10/25/2016 05/25/2022 08/29/2016 252,999.23 264,334.79 259,151.19 266,561.30 258,962.42 263,870.33 1,574.97 2.670 1.347 AAA 2,057.99 2.349 1.208 AAA 256350023 MIM-Sr Lien Reserve Fund-1 31417YKF3 Agency MBS Federal National Mortgage Association 256350023 MIM-Sr Lien Reserve Fund-1 38378KRS0 Agency MBS Government National Mortgage Association 01/01/2030 07/16/2043 05/08/2015 109,998.39 115,273.19 450,000.00 434,460.94 119,803.65 6,238.36 4.500 0.536 AAA 454,320.00 11,311.66 2.389 2.052 AAA 256350023 MIM-Sr Lien Reserve Fund-1 38378KXW4 Agency MBS Government National Mortgage Association 256350023 MIM-Sr Lien Reserve Fund-1 3138EKXL4 Agency MBS Federal National Mortgage Association 02/16/2037 12/11/2014 03/01/2023 93,240.57 92,788.94 218,108.92 215,008.61 92,935.67 (139.60) 1.705 1.936 AAA 225,533.35 8,244.20 2.332 0.943 AAA 256350023 MIM-Sr Lien Reserve Fund-1 38378KSL4 Agency MBS Government National Mortgage Association 256350023 MIM-Sr Lien Reserve Fund-1 3136AHAEO Agency MBS Federal National Mortgage Association 12/16/2046 425,000.00 415,829.11 433,644.50 14,540.77 2.820 2.484 AAA 04/25/2023 10/28/2016 52,181.09 53,306.25 53,543.02 662.18 2.623 0.850 AAA 256350023 MIM-Sr Lien Reserve Fund-1 38378B6A2 Agency MBS Government National Mortgage Association 256350023 MIM-Sr Lien Reserve Fund-1 3137B1U75 Agency MBS Freddie Mac 256350023 MIM-Sr Lien Reserve Fund-1 31381Q6B7 Agency MBS Federal National Mortgage Association 256350023 MIM-Sr Lien Reserve Fund-1 3136AC734 Agency MBS Federal National Mortgage Association 11/16/2052 01/22/2015 01/25/2023 08/29/2016 06/01/2021 07/15/2016 03/25/2023 02/21/2018 109,708.05 106,249.67 364,745.90 379,065.02 179,308.07 198,863.86 38,958.65 38,317.96 109,001.53 376,217.15 184,622.76 1,018.39 1.826 2.025 AAA 6,275.80 2.522 0.932 AAA 610.70 4.295 1.577 AAA 40,118.84 1,532.90 2.535 1.582 AAA 256350023 MIM-Sr Lien Reserve Fund-1 31381R5T7 Agency MBS Federal National Mortgage Association 256350023 MIM-Sr Lien Reserve Fund-1 31381SVJ8 Agency MBS Federal National Mortgage Association 09/01/2021 08/29/2018 11/01/2021 02/22/2019 130,000.00 132,747.27 104,843.84 105,368.07 134,056.00 2,911.22 3.770 1.455 AAA 107,407.27 2,356.15 3.330 1.640 AAA 256350023 MIM-Sr Lien Reserve Fund-1 3138L1W62 Agency MBS Federal National Mortgage Association 256350023 MIM-Sr Lien Reserve Fund-1 3137F4D41 Agency MBS Freddie Mac 12/01/2022 02/21/2019 01/25/2028 04/01/2019 163,059.66 162,091.49 35,000.00 36,714.84 162,629.18 371.39 2.500 2.557 AAA 40,335.05 3,801.22 3.600 1.495 AAA 256350023 MIM-Sr Lien Reserve Fund-1 3620ARB67 Agency MBS Government National Mortgage Association 256350023 MIM-Sr Lien Reserve Fund-1 3137FBAJ5 Agency MBS Freddie Mac 05/15/2025 06/10/2019 08/25/2027 06/26/2019 94,763.45 98,213.43 200,000.00 211,593.75 99,637.13 2,107.32 4.000 0.609 AAA 225,738.00 15,155.23 3.281 1.417 AAA 256350023 MIM-Sr Lien Reserve Fund-1 3137B1BS0 Agency MBS Freddie Mac 256350023 MIM-Sr Lien Reserve Fund-1 3137FNAD2 Agency MBS Freddie Mac 11/25/2022 07/31/2019 11/25/2028 08/01/2019 360,000.00 363,360.94 132,966.14 135,619.88 370,490.40 7,920.33 2.510 1.278 AAA 142,659.37 7,274.66 2.631 1.274 AAA 256350023 MIM-Sr Lien Reserve Fund-1 3138LFGP7 Agency MBS Federal National Mortgage Association 256350023 MIM-Sr Lien Reserve Fund-1 36178NB99 Agency MBS Government National Mortgage Association 10/01/2028 08/07/2019 08/15/2027 10/11/2019 275,000.00 284,356.45 35,156.90 35,546.93 296,392.25 12,497.02 2.550 1.603 AAA 36,584.97 1,050.35 2.500 0.979 AAA 256350023 MIM-Sr Lien Reserve Fund-1 36202FA30 Agency MBS Government National Mortgage Association 256350023 MIM-Sr Lien Reserve Fund-1 31381PEB0 Agency MBS Federal National Mortgage Association 256350023 MIM-Sr Lien Reserve Fund-1 36179M4J6 Agency MBS Government National Mortgage Association 256350023 MIM-Sr Lien Reserve Fund-1 3138NJAE8 Agency MBS Federal National Mortgage Association 09/20/2024 10/23/2019 11/01/2020 09/26/2014 03/20/2028 11/20/2019 12/01/2020 35,692.62 37,187.25 244,714.48 257,676.70 43,828.42 44,355.73 18,897.97 19,110.57 37,945.90 244,983.67 908.43 4.500 0.579 AAA (451.21) 3.370 2.740 AAA 45,485.57 1,142.20 2.500 1.143 AAA 18,886.25 (123.61) 3.630 3.484 AAA 256350023 MIM-Sr Lien Reserve Fund-1 3137FPJF3 Agency MBS Freddie Mac 06/25/2029 01/08/2020 183,797.35 184,630.19 193,705.87 9,108.95 2.258 1.267 AAA 256350023 MIM-Sr Lien Reserve Fund-1 3137FQ3Y7 Agency MBS Freddie Mac 07/25/201UL 2 01/08/2020 184,010.53 184,075.23 193,223.94 9,158.15 2.190 1.295 AAA Page 3 of 45 OFRIVERSIDE COUNTY TRANSPORTATION COMMISSION s 91 CIP STAMP Portfolio by Investment Category for quarter ended March 31, 2020 Source Security Type 256350023 MIM-Sr Lien Reserve Fund- 256350023 MIM-Sr Lien Reserve Fund- 256350023 MIM-Sr Lien Reserve Fund- 3132CJAJ2 Agency MBS 3I38IQB54 Agency MBS 36179NHK7 Agency MBS Freddie Mac Federal National Mortgage Association Government National Mortgage Association 256350021 MIM-RCTC 2013 Residual Fund 3137AXHN6 Agency MBS Freddie Mac 256350021 MIM-RCTC 2013 Residual Fund 3137B1UF7 Agency MBS Freddie Mac 256350021 MIM-RCTC 2013 Residual Fund 3I37AWQG3 Agency MBS Freddie Mac 256350021 MIM-RCTC 2013 Residual Fund 31381RZ23 Agency MBS Federal National Mortgage Association 256350021 MIM-RCTC 2013 Residual Fund 3138IRLL6 Agency MBS Federal National Mortgage Association 256350021 MIM-RCTC 2013 Residual Fund 3138L2GH4 Agency MBS Federal National Mortgage Association 256350021 MIM-RCTC 2013 Residual Fund 3 I38LI W62 Agency MBS Federal National Mortgage Association 256350021 MIM-RCTC 2013 Residual Fund 31381SVJ8 Agency MBS Federal National Mortgage Association 256350021 MIM-RCTC 2013 Residual Fund 31397UPF0 Agency MBS Federal National Mortgage Association 256350021 MIM-RCTC 2013 Residual Fund 3138L8H23 Agency MBS Federal National Mortgage Association 256350021 MIM-RCTC 2013 Residual Fund 3128MMPY3 Agency MBS Freddie Mac tLRe�•?Ti ['�sF+i��fRT•ifi7�F. S�ti1 R[•*fAriF+1�t1%F77"M��7rt�eR*R+�I•�Yi*Ri*s�ar�r.�rrn;xa zrmr 09/01/2029 01/28/2020 97,596.24 100,364.02 03/01/2021 11/07/2018 127,940.81 130,589.58 07/20/2028 03/31/2020 198,992.19 207,573.73 02/25/2022 01/25/2018 09/25/2022 01/25/2018 19,505.74 19,237.54 11,812.08 11,638.59 102,275.98 129,701.27 1,876.83 3.000 1.134 888.47 4.410 2.262 AAA AAA 207,916.99 343.26 3.000 1.409 AAA 19,662.17 301.07 1.749 0.819 AAA 11,914.49 201.83 1.785 0.939 AAA 04/25/2022 39,347.55 38,615.92 39,608.42 702.37 1.583 0.868 AAA 08/01/2021 11/02/2018 07/01/2021 11/02/2018 59,814.60 60,702.47 61,174.78 879.29 3.840 1.803 AAA 51,910.15 52,680.70 52,983.13 687.68 3.840 1.808 AAA 07/01/2021 123,621.96 121,004.32 124,817.38 2,420.45 1.870 0.909 AAA 12/01/2022 02/21/2019 11/01/2021 02/22/2019 06/25/2021 03/15/2019 12/01/2021 05/02/2019 06/01/2027 05/10/2019 124,692.68 123,952.31 124,363.49 284.00 2.500 2.557 AAA 83,875.07 84,294.45 85,925.82 1,884.93 3.330 1.640 AAA 118,001.24 119,697.50 67,518.90 67,307.98 186,223.77 185,409.04 119,883.35 993.21 3.763 1.372 AAA 67,433.16 193,346.83 108.33 2.730 2.711 AAA 7.889.34 2.500 1.037 AAA 256350021 MIM-RCTC 2013 Residual Fund 3128MMPP2 Agency MBS Freddie Mac 256350021 MIM-RCTC 2013 Residual Fund 3620ARB67 Agency MBS Government National Mortgage Association 03/01/2027 05/10/2019 05/15/2025 06/10/2019 202,670.31 201,783.63 62,070.06 64,329.80 210,414.34 65,262.32 8,588.93 2.500 1.010 AAA ,380.29 4.000 0.609 AAA 256350021 MIM-RCTC 2013 Residual Fund 38378KW47 Agency MBS Government National Mortgage Association 256350021 MIM-RCTC 2013 Residual Fund 3 I40J6DU8 Agency MBS Federal National Mortgage Association 256350021 MIM-RCTC 2013 Residual Fund 3138EKXL4 Agency MBS Federal National Mortgage Association 256350021 MIM-RCTC 2013 Residual Fund 3 I36AMM48 Agency MBS Federal National Mortgage Association 08/16/2035 06/13/2019 08/01/2031 07/26/2019 03/01/2023 08/21/2019 07/25/2022 08/01/2019 83,838.43 189,198.48 47,158.69 83,366.84 190,469.66 47,689.22 338,657.77 340,562.72 83,835.91 196,406.95 48,763.97 344,055.97 303.87 2.150 1.998 AAA 6,010.54 2.500 1.151 AAA 067.37 2.332 0.943 AAA 3,915.90 2.509 1.441 AAA 256350021 MIM-RCTC 2013 Residual Fund 3137APP61 Agency MBS Freddie Mac 256350021 MIM-RCTC 2013 Residual Fund 31418CQM9 Agency MBS Federal National Mortgage Association 01/25/2022 09/06/2019 10/01/2027 09/11/2019 14,844.20 15,086.57 52,209.96 53,539.69 15,254.34 235.17 2.789 0.896 AAA 54,667.48 1,206.93 3.000 1.148 AAA 256350021 MIM-RCTC 2013 Residual Fund 36178NB99 Agency MBS Government National Mortgage Association 256350021 MIM-RCTC 2013 Residual Fund 3132G5AV 1 Agency MBS Freddie Mac 08/15/2027 10/11/2019 07/01/2028 10/11/2019 117,189.68 118,489.75 69,122.44 70,418.49 256350021 MIM-RCTC 2013 Residual Fund 36179M4J6 Agency MBS Government National Mortgage Association 256350021 MIM-RCTC 2013 Residual Fund 31416BVR6 Agency MBS Federal National Mortgage Association 03/20/2028 11/20/2019 12/01/2020 01/17/2018 146,094.74 147,852.44 0.00 0.00 121,949.92 3,501.17 2.500 0.979 AAA 72,348.38 1,99 L79 3.000 1.228 AAA 151,618.58 3,807.33 2.500 1.143 AAA 0.00 0.00 5.000 0.028 AAA 256350021 MIM-RCTC 2013 Residual Fund 36202F2H8 Agency MBS Government National Mortgage Association 256350021 MIM-RCTC 2013 Residual Fund 3I38IQB54 Agency MBS Federal National Mortgage Association 01/20/2027 12/ 12/2019 03/01/2021 11/07/2018 85,517.67 87,628.90 98,087.96 100,118.68 89,125.66 99,437.65 562.79 3.000 1.259 AAA 681.16 4.410 2.262 AAA 256350018 MIM-RCTC 91 TIFIA Reserve 3620ARB67 Agency MBS Government National Mortgage Association 05/15/2025 06/10/2019 189,526.90 196,426.87 199,274.27 4,214.63 4.000 0.609 AAA 256350018 MIM-RCTC 91 TIFIA Reserve 3620AFYR2 Agency MBS Government National Mortgage Association 12/15/2024 06/12/2019 89.601.74 92,517.30 94.171.43 2.190.18 4.000 0.512 AAA 256350018 MIM-RCTC 91 TIFIA Reserve 31397UPF0 Agency MBS Federal National Mortgage Association 256350018 MIM-RCTC 91 TIFIA Reserve 36297GCD0 Agency MBS Government National Mortgage Association 06/25/2021 06/10/2019 02/15/2025 06/12/2019 236,002.47 239,874.39 92,548.55 96,442.11 239,766.70 1,494.44 3.763 1.372 AAA 96,879.83 1,319.08 4.500 1.373 AAA 256350018 MIM-RCTC 91 TIFIA Reserve 3620A9T35 Agency MBS Government National Mortgage Association 256350018 MIM-RCTC 91 TIFIA Reserve 3620C4SU5 Agency MBS Government National Mortgage Association 11/15/2024 06/13/2019 09/15/2025 06/12/2019 149,001.76 153,855.95 83,583.46 86,675.39 156,590.42 87,881.32 3,529.21 4.000 0.472 AAA ,672.37 4.000 0.880 AAA 256350018 MIM-RCTC 91 TIFIA Reserve 38378KW47 Agency MBS Government National Mortgage Association 256350018 MIM-RCTC 91 TIFIA Reserve 3I37FGZN8 Agency MBS Freddie Mac 08/16/2035 06/13/2019 02/25/2023 06/18/2019 216,931.93 215,711.69 159,611.24 159,536.42 216,925.42 786.26 2.150 1.998 AAA 156,672.79 (2,002.95) 1.862 3.640 AAA 256350018 MIM-RCTC 91 TIFIA Reserve 31381R5T7 Agency MBS Federal National Mortgage Association 256350018 MIM-RCTC 91 TIFIA Reserve 3138EJRP5 Agency MBS Federal National Mortgage Association 09/01/2021 06/20/2019 06/01/2021 06/18/2019 101,000.00 103,840.63 104,151.20 ,373.91 3.770 1.455 AAA 146,949.65 151,382.60 --- 152,242.78 2,798.68 4.355 0.196 AAA 256350018 MIM-RCTC 91 TIFIA Reserve 3137AWQG3 Agency MBS Freddie Mac 256350018 MIM-RCTC 91 TIFIA Reserve 3137B1BS0 Agency MBS Freddie Mac 04/25/2022 06/07/2019 251,824.29 249,030.61 --- 253,493.88 3,810.07 1.583 0.868 AAA 11/25/2022 645,000.00 652,086.14 663,795.30 13,422.40 2.510 1.278 AAA 256350018 MIM-RCTC 91 TIFIA Reserve 3137F4D41 Agency MBS Freddie Mac 256350018 MIM-RCTC 91 TIFIA Reserve 3137B1U75 Agency MBS Freddie Mac 01/25/2028 06/27/2019 01/25/2023 06/27/2019 150,000.00 163,248.05 359,946.61 363,419.53 172,864.50 10,700.33 3.600 1.495 AAA 371,266.93 8,778.85 2.522 0.932 AAA 256350018 MIM-RCTC 91 TIFIA Reserve 3137BM6P6 Agency MBS Freddie Mac 256350018 MIM-RCTC 91 TIFIA Reserve 3137F4CY6 Agency MBS Freddie Mac 08/25/2022 06/28/2019 09/25/2024 06/28/2019 200,000.00 205,437.50 190,000.00 195,907.81 206,254.00 2,260.83 3.090 1.552 AAA 205,247.50 10,211.65 2.920 0.994 AAA 256350018 MIM-RCTC 91 TIFIA Reserve 3137FBAJ5 Agency MBS Freddie Mac 256350018 MIM-RCTC 91 TIFIA Reserve 31419AM53 Agency MBS Federal National Mortgage Association 08/25/2027 06/26/2019 08/01/2024 06/28/2019 200,000.00 211,593.75 225,738.00 15,155.23 3.281 1.417 AAA 90,752.01 94,098.49 --- 94,657.07 1,499.87 5.500 0.456 AAA 256350018 MIM-RCTC 91 TIFIA Reserve 31381Q6B7 Agency MBS Federal National Mortgage Association 256350018 MIM-RCTC 91 TIFIA Reserve 3136AHAEO Agency MBS Federal National Mortgage Association 06/01/2021 07/01 /2019 04/25/2023 06/28/2019 179,308.07 184,834.40 --- 184,622.76 2,043.36 4.295 1.577 AAA 62,412.68 62,988.75 64,041.65 860.01 2.623 0.850 AAA 256350018 MIM-RCTC 91 TIFIA Reserve 3138EJPZ5 Agency MBS Federal National Mortgage Association 256350018 MIM-RCTC 91 TIFIA Reserve 31381SVJ8 Agency MBS Federal National Mortgage Association 07/01/2022 07/22/2019 11/01/2021 07/22/2019 220,277.07 224,295.41 83,875.08 85,303.58 229,123.40 4,584.14 3.022 0.763 AAA 85,925.83 1,093.42 3.330 1.640 AAA 256350018 MIM-RCTC 91 TIFIA Reserve 38378KWU9 Agency MBS Government National Mortgage Association 256350018 MIM-RCTC 91 TIFIA Reserve 3I37BSRZ8 Agency MBS Freddie Mac 11/16/2041 95,204.13 91,028.49 --- 93,972.19 2,142.99 1.400 2.010 AAA 09/25/2022 06/28/2019 150,364.19 153,330.36 156,521.60 3,260.51 2.838 0.921 AAA 256350018 MIM-RCTC 91 TIFIA Reserve 38378NWU3 Agency MBS Government National Mortgage Association 256350018 MIM-RCTC 91 TIFIA Reserve 3I37FNAD2 Agency MBS Freddie Mac 06/16/2048 06/27/2019 11/25/2028 08/01/2019 141,365.35 143,353.30 147,740.16 150,688.75 145,846.63 158,510.41 ,860.86 2.570 2.049 AAA 8,082.95 2.631 1.274 AAA 256350018 MIM-RCTC 91 TIFIA Reserve 3138LFGP7 Agency MBS Federal National Mortgage Association 256350018 MIM-RCTC 91 TIFIA Reserve 3I38EKXL4 Agency MBS Federal National Mortgage Association 10/01/2028 08/07/2019 03/01/2023 08/21/2019 300,000.00 310,207.03 44,211.27 44,708.65 323,337.00 13,633.12 2.550 1.603 AAA 45,716.22 ,000.66 2.332 0.943 AAA 256350018 MIM-RCTC 91 TIFIA Reserve 3136A7MN9 Agency MBS Federal National Mortgage Association 256350018 MIM-RCTC 91 TIFIA Reserve 3137FL6P4 Agency MBS Freddie Mac 05/25/2022 08/22/2019 01/25/2029 09/09/2019 142,533.15 143,685.66 275,000.00 307,108.40 145,128.67 320,185.25 1,608.95 2.349 1.208 AAA 4,841.36 3.563 1.535 AAA 256350018 MIM-RCTC 91 TIFIA Reserve 3137BP4K2 Agency MBS Freddie Mac 256350018 MIM-RCTC 91 TIFIA Reserve 3138L2QG5 Agency MBS Federal National Mortgage Association 03/25/2026 09/09/2019 01/01/2028 09/09/2019 200,000.00 210,125.00 260,122.36 276,024.38 221,280.00 286,686.05 991.66 2.849 0.985 AAA 1,091.81 3.010 1.681 AAA 256350018 MIM-RCTC 91 TIFIA Reserve 3138LFP51 Agency MBS Federal National Mortgage Association 256350018 MIM-RCTC 91 TIFIA Reserve 36I78NB99 Agency MBS Government National Mortgage Association 10/01/2028 09/09/2019 08/15/2027 10/11/2019 198,602.48 206,150.93 46,875.87 47,395.90 214,999.11 48,779.96 9,142.82 2.570 1.534 AAA 400.47 2.500 0.979 AAA 256350018 MIM-RCTC 91 TIFIA Reserve 36202FA30 Agency MBS Government National Mortgage Association 256350018 MIM-RCTC 91 TIFIA Reserve 3137BJQ71 Agency MBS Freddie Mac 09/20/2024 10/23/2019 05/25/2025 10/30/2019 38,796.32 40,420.92 200,000.00 206,296.88 41,245.54 214,506.00 987.43 4.500 0.579 AAA 8,672.50 2.770 1.279 AAA 256350018 MIM-RCTC 91 TIFIA Reserve 3137BLAC2 Agency MBS Freddie Mac 06/25/2025 150,000.00 256350018 MIM-RCTC 91 TIFIA Reserve 36I79M4J6 Agency MBS Government National Mortgage Association 03/20/2028 11/20/2019 175,313.68 256350018 MIM-RCTC 91 TIFIA Reserve 3138NJAE8 Agency MBS Federal National Mortgage Association 12/01/2020 10/07/2019 18,897.98 159,648.05 177,422.93 19,101.72 163,705.50 4,681.17 3.284 1.377 AAA 181,942.29 4,568.80 2.500 1.143 AAA 18,886.26 (162.63) 3.630 3.484 AAA 256350018 MIM-RCTC 91 TIFIA Reserve 36202F2H8 Agency MBS Government National Mortgage Association 01/20/22� 3 12/12/2019 194,358.35 199,156.59 202,558.33 3,551.80 3.000 1.259 AAA Page 4 of 45 OFRIVERSIDE COUNTY TRANSPORTATION COMMISSION 91 CIP STAMP Portfolio by Investment Category for quarter ended March 31, 2020 Br 256350018 MIM-RCTC 91 TIFIA Reserve 3137FPJF3 Agency MBS Freddie Mac 06/25/2029 01/08/2020 198,699.84 199,600.19 -- -- 209,411.75 9,847.53 2.258 1.267 AAA 256350018 MIM-RCTC 91 TIFIA Reserve 3137FQ3Y7 Agency MBS Freddie Mac 07/25/2029 01/08/2020 198,930.31 199,000.24 208,890.75 9,900.70 2.190 1.295 AAA 256350018 MIM-RCTC 91 TIFIA Reserve 3132CJAJ2 Agency MBS Freddie Mac 09/01/2029 01/28/2020 106,082.87 109,091.32 --- 111,169.55 2,040.04 3.000 1.134 AAA 256350018 MIM-RCTC 91 TIFIA Reserve 31417YKF3 Agency MBS Federal National Mortgage Association 01/01/2030 02/04/2020 25,882.99 27,848.48 --- 28,190.20 358.91 4.500 0.536 AAA 256350021 MIM-RCTC 2013 Residual Fund 65478DAD9 Asset Backed Nissan Auto Receivables 2018-A Owner Trust 05/16/2022 06/29/2018 65,530.88 65,192.99 --- 65,751.72 316.04 2.650 2.050 AAA 256350021 MIM-RCTC 2013 Residual Fund 65478HAD0 _ Asset Backed Nissan Auto Receivables 2017-C Owner Trust 04/18/2022 09/25/2018 45,788.34 45,074.69 - 45,808.95 246.54 2.120 2.028 AAA 256350021 MIM-RCTC 2013 Residual Fund 47789JAB2 Asset Backed John Deere Owner Trust 2019 10/15/2021 03/05/2019 60,454.91 60,452.15 -- 60,615.11 161.18 2.850 2.152 AAA 256350021 MIM-RCTC 2013 Residual Fund 31680YAB3 Asset Backed Fifth Third Auto Trust 2019-1 05/16/2022 04/30/2019 94,643.59 94,638.37 -- 94,898.18 256.55 2.660 1.917 AAA 256350021 MIM-RCTC 2013 Residual Fund 477870AB5 Asset Backed John Deere Owner Trust 2019-B 05/16/2022 07/16/2019 89,451.36 89,451.02 -- 89,576.59 125.30 2.280 1.996 AAA 256350021 MIM-RCTC 2013 Residual Fund 65478LAB5 Asset Backed Nissan Auto Lease Trust 2019-B 10/15/2021 07/16/2019 73,870.21 73,863.75 - 73,835.49 (32.03) 2.270 2.378 AAA 256350021 MIM-RCTC 2013 Residual Fund 38013FAD3 Asset Backed GM Financial Consumer Automobile Receivables Trust 2018-4 10/16/2023 07/24/2019 75,000.00 76,374.02 -- 75,973.50 176.53 3.210 1.821 AAA 256350021 MIM-RCTC 2013 Residual Fund 143I5PAB I Asset Backed Carmax Auto Owner Trust 2019-3 12/15/2022 07/24/2019 112,360.63 112,355.58 - 112,686.48 328.52 2.210 1.747 AAA 256350021 MIM-RCTC 2013 Residual Fund 87165LBB6 Asset Backed Syncbrony Credit Card Master Note Trust 2016-2 05/17/2021 08/02/2019 160,000.00 160,387.50 -- 159,568.00 (678.83) 2.210 2.459 AAA 256350021 MIM-RCTC 2013 Residual Fund 26209AAE1 Asset Backed Drive Auto Receivables Trust 2019-4 01/16/2024 09/09/2019 80,000.00 79,989.10 --- 78,628.00 (1,363.72) 2.230 3.317 AA 256350021 MIM-RCTC 2013 Residual Fund 12596EAC8 Asset Backed CNH Equipment Trust 2018-B 11/15/2023 12/05/2019 190,000.00 193,102.34 --- 189,232.40 (3,211.97) 3.190 3.560 AAA 256350021 MIM-RCTC 2013 Residual Fund 26208RAD7 Asset Backed Drive Auto Receivables Trust 2019-2 03/15/2023 12/05/2019 150,000.00 150,738.28 --- 150,405.00 120.88 3.040 1.245 _ AAA 256350021 MIM-RCTC 2013 Residual Fund 02582JHJ2 Asset Backed American Express Credit Account Master Trust, Series 2017-6 10/15/2020 12/05/2019 200,000.00 200,375.00 --- 200,260.00 43.59 2.040 1.795 AAA 256350021 MIM-RCTC 2013 Residual Fund I7305EFM2 Asset Backed Citibank Credit Card Issuance Trust - 2014-Al 01/23/2023 12/11/2019 200,000.00 202,210.16 --- 201,738.00 123.79 2.880 1.781 AAA 256350021 MIM-RCTC 2013 Residual Fund 14315XAC2 Asset Backed Carmax Auto Owner Trust 2020-1 12/16/2024 01/14/2020 60,000.00 59,988.23 --- 60,184.80 195.84 1.890 1.781 AAA 256350021 MIM-RCTC 2013 Residual Fund 17305EGK5 Asset Backed Citibank Credit Card Issuance Trust 01/20/2021 07/19/2019 100,000.00 100,625.00 --- 100,730.00 391.71 2.490 1.564 AAA 256350021 MIM-RCTC 2013 Residual Fund 14041NFU0 Asset Backed Capital One Multi -Asset Execution Trust, Series 2019-2 09/15/2022 03/13/2020 100,000.00 100,312.50 --- 100,964.00 656.44 1.720 1.323 AAA 256350023 MIM-Sr Lien Reserve Fund-1 62888VAA6 CMO NCUA Guaranteed Notes Trust 2010-R1 10/07/2020 01/22/2019 68,179.86 68,203.83 --- 68,136.90 (50.16) 2.116 1.390 AAA 256350021 MIM-RCTC 2013 Residual Fund 62888VAA6 CMO NCUA Guaranteed Notes Trust 2010-R1 10/07/2020 05/10/2019 0.01 0.01 --- 0.01 0.00 2.116 1.822 AAA 256350021 MIM-RCTC 2013 Residual Fund 62888UAB6 CMO NCUA Guaranteed Notes Trust 2010-R2 11/05/2020 03/15/2019 137,452.67 137,656.70 --- 137,467.79 (59.39) 2.136 1.008 AAA 256350018 MIM-RCTC 91 TIFIA Reserve 62888VAA6 CMO NCUA Guaranteed Notes Trust 2010-R1 10/07/2020 06/24/2019 16,811.47 16,803.59 --- 16,800.88 (7.41) 2.116 1.390 AAA 256350021 MIM-RCTC 2013 Residual Fund 0258IRDD2 CP American Express Credit Corporation 04/13/2020 03/10/2020 350,000.00 349,534.79 --- 349,860.00 29.17 0.000 1.108 AAA 256350021 MIM-RCTC 2013 Residual Fund 50000DDD5 CP KOCH INDUSTRIES INC 04/13/2020 03/26/2020 650,000.00 649,317.50 --- 649,740.00 195.00 0.000 1.108 AAA 256350021 MIM-RCTC 2013 Residual Fund 23336GD65 _ CP DTE Electric Company 04/06/2020 03/26/2020 600,000.00 599,422.50 --- 599,898.00 160.50 0.000 1.020 AAA 256350021 MIM-RCTC 2013 Residual Fund 14918ED16 CP CommonSpirit Health 04/01/2020 03/30/2020 550,000.00 549,880.83 --- 550,000.00 0.00 0.000 0.000 NA 256350021 MIM-RCTC 2013 Residual Fund 40248CDL2 _ CP Gulf Power Company 04/20/2020 03/31/2020 200,000.00 199,650.00 --- 199,872.00 204.50 0.000 1.152 AAA 256350021 MIM-RCTC 2013 Residual Fund 06416CAC2 Corporate The Bank of Nova Scotia 04/26/2021 --- 200,000.00 194,126.00 --- 200,104.00 2,406.23 1.875 1.825 AAA 256350021 MIM-RCTC 2013 Residual Fund 9033IHNP4 _ Corporate U.S. Bank National Association 04/26/2021 10/11/2018 250,000.00 249,395.00 03/26/2021 252,107.50 2,368.04 3.150 2.281 AA 256350021 MIM-RCTC 2013 Residual Fund 06406FAB9 Corporate The Bank of New York Mellon Corporation 05/03/2021 10/11/2018 200,000.00 193,708.00 04/03/2021 200,928.00 3,675.48 2.050 1.583 A 256350021 MIM-RCTC 2013 Residual Fund I72967LC3 Corporate Citigroup Inc. 12/08/2021 --- 450,000.00 449,617.50 11/08/2021 453,460.50 3,702.86 2.900 2.407 A 256350021 MIM-RCTC 2013 Residual Fund 06051GFN4 Corporate Bank of America Corporation 04/21/2020 01/25/2018 100,000.00 99,537.00 --- 99,984.00 (4.44) 2.250 2.513 A 256350021 MIM-RCTC 2013 Residual Fund 6937IRP34 _ Corporate PACCAR Financial Corp. 05/10/2021 04/30/2019 200,000.00 200,250.00 --- 191,850.00 (8,286.67) 1.994 5.523 A 256350021 MIM-RCTC 2013 Residual Fund 86787EBD8 Corporate SunTtust Bank 05/17/2022 05/14/2019 50,000.00 50,000.00 04/17/2022 48,758.00 (1,242.00) 2.282 3.268 A 256350021 MIM-RCTC 2013 Residual Fund 14913Q2X6 _ Corporate Caterpillar Financial Services Corporation 05/17/2021 05/14/2019 120,000.00 120,000.00 _ --- 117,571.20 (2,428.80) 2.082 3.712 A 256350021 MIM-RCTC 2013 Residual Fund 025816CE7 Corporate American Express Company 05/20/2022 05/15/2019 100,000.00 100,000.00 04/19/2022 95,909.00 (4,091.00) 2.315 4.085 A 256350021 MIM-RCTC 2013 Residual Fund 0553IFAU7 Corporate Truist Financial Corporation 06/29/2020 04/15/2019 250,000.00 249,642.50 05/29/2020 249,537.50 (390.46) 2.625 3.365 A 256350021 MIM-RCTC 2013 Residual Fund 06051GEC9 Corporate Bank of America Corporation 07/01/2020 --- 200,000.00 207,806.00 --- 201,254.00 92.16 5.625 3.055 A 256350021 MIM-RCTC 2013 Residual Fund 94974BGM6 _ Corporate Wells Fargo & Company 07/22/2020 04/15/2019 200,000.00 199,590.00 --- 200,038.00 137.77 2.600 2.525 A 256350021 MIM-RCTC 2013 Residual Fund 55279HAN0 Corporate Manufacturers & Traders Trust Company 08/17/2020 10/11/2018 250,000.00 244,707.50 07/17/2020 249,370.00 483.81 2.050 2.717 A 256350021 MIM-RCTC 2013 Residual Fund 375558BB8 Corporate Gilead Sciences, Inc. 09/01/2020 --- 135,000.00 133,439.10 --- 135,402.30 742.03 2.550 1.825 A 256350021 MIM-RCTC 2013 Residual Fund 05531FBJ1 Corporate Truist Financial Corporation 03/16/2023 09/09/2019 165,000.00 164,877.90 02/13/2023 165,100.65 204.40 2.200 2.178 A 256350021 MIM-RCTC 2013 Residual Fund 780082AC7 Corporate Royal Bank of Canada 10/14/2020 --- 200,000.00 196,622.00 --- 199,558.00 400.90 2.100 2.517 AAA 256350021 MIM-RCTC 2013 Residual Fund 17308CC46 Corporate Citigroup Inc. 11/04/2022 10/28/2019 195,000.00 195,000.00 11/04/2021 194,257.05 (742.95) 2.312 1.864 A 256350021 MIM-RCTC 2013 Residual Fund 1740IQAN1 _ Corporate Citizens Bank, National Association 10/30/2020 04/15/2019 250,000.00 247,950.00 --- 250,590.00 1,372.19 2.250 1.774 A 256350021 MIM-RCTC 2013 Residual Fund 31677QBK4 Corporate Fifth Third Bank 10/30/2020 06/21/2019 200,000.00 199,810.00 09/30/2020 199,358.00 (560.80) 2.200 2.757 A 256350021 MIM-RCTC 2013 Residual Fund 61747WAF6 _ Corporate Morgan Stanley 01/25/2021 _ --- 200,000.00 213,237.00 --- 205,284.00 655.41 5.750 2.457 A 256350021 MIM-RCTC 2013 Residual Fund 95000U2B8 Corporate Wells Fargo & Company 07/22/2022 02/19/2020 235,000.00 239,479.10 --- 235,761.40 (3,517.44) 2.625 2.479 A 256350021 MIM-RCTC 2013 Residual Fund 69353RFU7 _ Corporate PNC Bank, National Association 02/24/2023 02/20/2020 250,000.00 250,000.00 02/24/2022 235,625.00 (14,375.00) 2.004 3.874 A 256350021 MIM-RCTC 2013 Residual Fund 74456QBP0 Corporate Public Service Electric and Gas Company 03/15/2021 03/25/2020 125,000.00 122,811.25 02/15/2021 123,762.50 920.81 1.900 2.958 AA 256350023 MIM-Sr Lien Reserve Fund-1 CCYUSD Currency UNITED STATES OF AMERICA 03/31/2020 --- 0.00 64.70 --- 64.70 0.00 0.000 0.000 AAA 256350023 MIM-Sr Lien Reserve Fund-1 CCYUSD Currency UNITED STATES OF AMERICA 03/31/2020 --- 0.00 (207,982.38) --- (207,982.38) 0.00 0.000 0.000 AAA 256350023 MIM-Sr Lien Reserve Fund-1 31846V401 MM Fund First American Funds, Inc. - Government Obligations Fund 03/31/2020 --- 0.00 428,674.95 --- 428,674.95 0.00 0.010 0.010 AAA 256350021 MIM-RCTC 2013 Residual Fund 31846V401 MM Fund First American Funds, Inc. - Government Obligations Fund 03/31/2020 --- 0.00 182,187.22 --- 182,187.22 0.00 0.010 0.010 AAA 256350018 MIM-RCTC 91 TIFIA Reserve 31846V401 MM Fund First American Funds, Inc. - Government Obligations Fund 03/31/2020 --- 0.00 324,154.22 --- 324,154.22 0.00 0.010 0.010 AAA 256350021 MIM-RCTC 2013 Residual Fund 072024WW8 Muni Bay Area Toll Authority 04/01/2022 09/20/2019 95,000.00 95,000.00 --- 95,512.05 512.05 2.128 1.852 AA 256350021 MIM-RCTC 2013 Residual Fund 783186TZ2 Muni Rutgers, The State University of New Jersey 05/01/2022 10/18/2019 105,000.00 105,000.00 --- 103,963.65 (1,036.35) 2.057 2.546 AA 256350021 MIM-RCTC 2013 Residual Fund 459058GK3 Non -US Gov International Bank for Reconstruction and Development 08/21/2020 --- 315,000.00 315,116.40 --- 315,094.50 68.25 0.230 0.157 AAA 256350021 MIM-RCTC 2013 Residual Fund 458IX0CZ9 _ Non -US Gov Inter -American Development Bank 09/14/2022 09/30/2019 650,000.00 652,067.00 --- 669,454.50 17,728.51 1.750 0.520 AAA 256350023 MIM-Sr Lien Reserve Fund-1 912828V49 TIPS United States Department of The Treasury 01/15/2027 --- 298,986.80 297,643.95 --- 305,950.20 7,912.62 0.375 0.032 AAA 256350023 MIM-Sr Lien Reserve Fund-1 9I28285W6 TIPS United States Department of The Treasury 01/15/2029 --- 255,382.50 270,641.99 --- 277,404.13 7,799.25 0.875 -0.101 AAA 256350023 MIM-Sr Lien Reserve Fund-1 9128286N5 TIPS United States Department of The Treasury 04/15/2024 --- 271,020.80 275,385.58 --- 274,937.05 139.18 0.500 0.142 AAA 256350021 MIM-RCTC 2013 Residual Fund 912828UH1 TIPS United States Department of The Treasury 01/15/2023 --- 100,573.20 98,702.88 --- 99,361.29 (79.34) 0.125 0.560 AAA 256350021 MIM-RCTC 2013 Residual Fund 9128286N5 TIPS United States Department of The Treasury 04/15/2024 --- 419,315.20 426,690.91 --- 425,374.30 (337.97) 0.500 0.142 AAA 256350018 MIM-RCTC 91 TIFIA Reserve 9I28285W6 TIPS United States Department of The Treasury 01/15/424 . --- 265,597.80 280,460.80 --- 288,500.30 9,124.27 0.875 -0.101 AAA Page 5 of 45 OFRIVERSIDE COUNTY TRANSPORTATION COMMISSION 256350018 MIM-RCTC 91 TIFIA Reserve 912828V49 TIPS 256350018 MIM-RCTC 91 TIFIA Reserve 9I28286N5 TIPS 256350023 MIM-Sr Lien Reserve Fund-1 912828L57 US Gov 91 CIP STAMP Portfolio by Investment Category for quarter ended March 31, 2020 United States Department of The Treasury United States Department of The Treasury United States Department of The Treasury 256350023 MIM-Sr Lien Reserve Fund-1 9I2828G38 US Gov United States Department of The Treasury 256350023 MIM-Sr Lien Reserve Fund-1 912828XB1 US Gov United States Department of The Treasury 256350023 MIM-Sr Lien Reserve Fund-1 912828143 US Gov United States Department of The Treasury 256350023 MIM-Sr Lien Reserve Fund-1 912828YK0 US Gov United States Department of The Tre 256350023 MIM-Sr Lien Reserve Fund-1 9I2828B58 US Gov 01/15/2027 06/25/2019 309,664.90 312,060.05 04/15/2024 08/01/2019 296,588.80 300,810.33 09/30/2022 1,400,000.00 1,386,564.45 11/15/2024 04/18/2017 05/15/2025 02/28/2022 11/26/2019 ,350,000.00 1,369,037.11 ,125,000.00 1,143,342.78 316,877.00 5,056.24 0.375 0.032 AAA 300,874.51 651.56 0.500 0.142 AAA 452,122.00 58,581.72 1.750 0.255 AAA ,465,911.00 103,941.21 2.250 0.375 AAA 222,335.00 87,588.96 2.125 0.416 AAA 150,000.00 150,544.92 -- 154,383.00 3,919.09 1.750 0.221 AAA ury 10/15/2022 670,000.00 664,428.32 --- 688,894.00 23,887.83 1.375 0.261 AAA United States Department of The Treasury 01/31/2021 1,375,000.00 1,405,890.24 1,398,746.25 18,578.10 2.125 0.056 AAA 256350021 MIM-RCTC 2013 Residual Fund 912828L57 US Gov 256350021 MIM-RCTC 2013 Residual Fund 912828Y53 US Gov United States Department of The Tre my United States Department of The Treasury 09/30/2022 --- 2,150,000.00 2,158,926.57 --- 2,230,044.50 71,816.97 1.750 0.255 AAA 07/31/2020 ,775,000.00 1,774,332.62 774,964.50 220.83 0.128 0.136 AAA 256350021 MIM-RCTC 2013 Residual Fund 912828VV9 US Gov United States Department of The Treasury 256350021 MIM-RCTC 2013 Residual Fund 912828YK0 US Gov United States Department of The Treasury 08/31/2020 2,260,000.00 2,251,428.13 2,278,803.20 8.935.81 2.125 0.123 AAA 10/15/2022 1,030,000.00 1,021,835.16 --- 1,059,046.00 36,111.99 1.375 0.261 AAA 256350021 MIM-RCTC 2013 Residual Fund 9128285H9 US Gov United States Department of The Treasury 10/31/2020 700,000.00 699,678.39 699,895.00 4.49 0.130 0.158 AAA 256350021 MIM-RCTC 2013 Residual Fund 912828T67 US Gov United States Department of The Treasury 256350021 MIM-RCTC 2013 Residual Fund 9128286U9 US Gov United States Department of The Tre my 256350021 MIM-RCTC 2013 Residual Fund 912828J43 US Gov United States Department of The Treasury 10/31/2021 12/09/2019 480,000.00 476,306.25 488,025.60 118.84 1.250 0.191 AAA 05/15/2022 420,000.00 425,850.01 436,850.40 1,389.90 2.125 0.230 AAA 02/28/2022 12/30/2019 125,000.00 125,463.87 128,652.50 3,241.00 1.750 0.221 AAA 256350021 MIM-RCTC 2013 Residual Fund 912828B58 US Gov United States Department of The Tre my 01/31/2021 1,730,000.00 1,727,976.96 --- 1,759,877.10 28,272.95 2.125 0.056 AAA 256350018 MIM-RCTC 91 TIFIA Reserve 9I2828L57 US Gov United States Department of The Treasury 09/30/2022 09/10/2019 ,000,000.00 1,006,210.94 1,037,230.00 32,119.40 1.750 0.255 AAA 256350018 MIM-RCTC 91 TIFIA Reserve 912828XB1 US Gov United States Department of The Treasury 256350018 MIM-RCTC 91 TIFIA Reserve 9I2828L99 US Gov United States Department of The Treasury 05/15/2025 09/11/2019 10/31/2020 06/25/2019 450,000.00 462,076.17 --- 488,934.00 27,978.44 2.125 0.416 AAA ,050,000.00 1,043,683.60 ,057,549.50 0,291.49 1.375 0.140 AAA 256350018 MIM-RCTC 91 TIFIA Reserve 912828YK0 US Gov United States Department of The Treasury 10/15/2022 12/05/2019 225,000.00 223,549.80 231,345.00 7,635.23 1.375 0.261 AAA 256350018 MIM-RCTC 91 TIFIA Reserve 9I2828Y53 US Gov United States Department of The Treasury 07/31/2020 985,000.00 984,986.26 984,980.30 (9.73) 0.128 0.136 AAA 256350018 MIM-RCTC 91 TIFIA Reserve 912828B58 US Gov United States Department of The Treasury 256350021 MIM-RCTC 2013 Residual Fund 658886DZ6 VRDN North Dakota Housing Finance Agency 01/31/2021 06/26/2019 07/01/2038 06/29/2018 ,500,000.00 1,506,269.53 100,000.00 100,000.00 ,525,905.00 22,603.85 2.125 0.056 AAA 100,000.00 0.00 3.000 3.000 AA 256350021 MIM-RCTC 2013 Residual Fund 196480CW5 VRDN Colorado Housing and Finance Authority, Inc 10/01/2051 03/19/2020 460,000.00 460,000.00 04/20/2020 460,000.00 0.00 4.750 4.750 AAA 64,005,314.77 65,228,832.64 66,434,541.19 1,289,883.49 225 Page 6 of 45 OFRIVERSIDE COUNTY TRANSPORTATION COMMISSION 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 3137EADB2 Agency 3137EADR7 Agency 91 CIP STAMP Portfolio by Account for quarter ended March 31, 2020 Freddie Mac Freddie Mac 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TIFIA Reserve 3135G0D75 Agency Federal National Mortgage Association 3130AFFX0 Agency Federal Home Loan Banks 3137AH6C7 Agency CMO Freddie Mac 3137ABFH9 Agency CMO Freddie Mac 3136ADFF1 Agency CMO Federal National Mortgage Association 3136A5KR6 Agency CMO Federal National Mortgage Association 3137AS7D0 AgencyCMO Freddie Mac 38376PRM4 Agency CMO Government National Mortgage Association 3137B6DF5 AgencyCMO Freddie Mac 31397ALN1 Agency CMO Freddie Mac 38378BXQ7 Agency CMO Government National Mortgage Association 3136AGFQ0 Agency CMO Federal National Mortgage Association 3137B3HX9 AgencyCMO Freddie Mac 38377YTL4 Agency CMO Government National Mortgage Association 38378WUY7 AgencyCMO Government National Mortgage Association 38378BSZ3 Agency CMO Government National Mortgage Association 3137B1UG5 AgencyCMO Freddie Mac 3137BDKF2 Agency CMO Freddie Mac 3136AGZA3 Agency CMO Federal National Mortgage Association 38378CNY9 Agency CMO Government National Mortgage Association 3137AUPE3 AgencyCMO Freddie Mac 3137ATRW4 Agency CMO Freddie Mac 3137AXHP1 AgencyCMO Freddie Mac 38374C4J7 Agency CMO Government National Mortgage Association 38377REV3 AgencyCMO Government National Mortgage Association 38378TAF7 Agency CMO Government National Mortgage Association 38377QKH9 Agency CMO Government National Mortgage Association 3137A2B26 Agency CMO Freddie Mac 38376V2E6 AgencyCMO Government National Mortgage Association 38376GY53 Agency CMO Government National Mortgage Association 38379JM99 Agency CMO Government National Mortgage Association 383787ZD7 Agency CMO Government National Mortgage Association 3137A6B27 AgencyCMO Freddie Mac 38377RED3 Agency CMO Government National Mortgage Association 38376WA62 Agency CMO Government National Mortgage Association 38378FRB8 Agency CMO Government National Mortgage Association 38377JZ89 Agency CMO Government National Mortgage Association 3137B5A60 Agency CMO Freddie Mac 38376TTT9 Agency CMO Government National Mortgage Association 3620ARB67 Agency MBS Government National Mortgage Association 3620AFYR2 Agency MBS Government National Mortgage Association 31397UPF0 Agency MBS Federal National Mortgage Association 36297GCD0 Agency MBS Government National Mortgage Association 3620A9T35 Agency MBS Government National Mortgage Association 3620C4SU5 Agency MBS Government National Mortgage Association 38378KW47 Agency MBS Government National Mortgage Association 3137FGZN8 Agency MBS Freddie Mac 31381R5T7 Agency MBS Federal National Mortgage Association 3138ESRP5 Agency MBS Federal National Mortgage Association 3137AWQG3 Agency MBS Freddie Mac 3137B1BS0 Agency MBS Freddie Mac 3137F4D41 Agency MBS Freddie Mac 3137B1U75 Agency MBS Freddie Mac 3137BM6P6 Agency MBS Freddie Mac 3137F4CY6 Agency MBS Freddie Mac 3137FBAJ5 Agency MBS Freddie Mac 31419AM53 Agency MBS Federal National Mortgage Association 31381Q6B7 Agency MBS Federal National Mortgage Association 3136AHAEO Agency MBS Federal National Mortgage Association 3138EJPZ5 Agency MBS Federal National Mortgage Association 31381SVJ8 Agency MBS Federal National Mortgage Association 38378KWU9 Agency MBS Government National Mortgage Association 3137BSRZ8 Agency MBS Freddie Mac 38378NWU3 Agency MBS Government National Mortgage Association 3137FNAD2 Agency MBS Freddie Mac 3138LFGP7 Agency MBS Federal National Mortgage Association 3138EKXL4 Agency MBS Federal National Mortgage Association 3136A7MN9 Agency MBS Federal National Mortgage Association 3137FL6P4 Agency MBS Freddie Mac 3137BP4K2 Agency MBS Freddie Mac 3138L2QG5 Agency MBS Federal National Mortgage Association 3 138LFP5 1 Agency MBS Federal National Mortgage Association 01/13/2022 06/06/2019 05/01/2020 06/07/2019 06/22/2020 06/07/2019 11/16/2028 07/25/2021 06/25/2021 04/25/2023 10/25/2022 04/15/2039 05/20/2038 11/15/2026 04/15/2032 01/16/2036 12/25/2038 07/15/2038 05/20/2040 06/20/2041 04/16/2040 01/25/2023 09/15/2040 09/25/2030 11/20/2038 06/25/2022 05/25/2022 09/25/2022 07/20/2020 10/20/2039 07/20/2041 08/20/2040 08/25/2020 07/16/2039 01/16/2040 02/16/2041 12/20/2040 10/25/2020 12/16/2025 10/20/2039 07/20/2042 10/20/2039 10/15/2028 11/20/2039 05/15/2025 12/15/2024 06/25/2021 02/15/2025 11/15/2024 09/15/2025 08/16/2035 02/25/2023 09/01/2021 06/01/2021 04/25/2022 11/25/2022 01/25/2028 01/25/2023 08/25/2022 09/25/2024 08/25/2027 08/01/2024 06/01/2021 04/25/2023 07/01/2022 11/01/2021 11/16/2041 09/25/2022 06/16/2048 11/25/2028 10/01/2028 03/01/2023 05/25/2022 01/25/2029 03/25/2026 01/01/2028 10/01/2028 500,000.00 175,000.00 650,000.00 09/11/2019 200,000.00 06/07/2019 333,437.97 --- 149,000.00 06/10/2019 108,619.66 06/10/2019 123,913.90 06/14/2019 151,938.09 06/18/2019 11,713.60 06/18/2019 161,399.87 06/18/2019 141,168.82 06/17/2019 82,952.17 06/18/2019 146,501.74 06/20/2019 77,738.06 06/17/2019 186,247.60 06/12/2019 145,961.28 06/25/2019 184,641.26 06/25/2019 200,000.00 --- 64,884.06 06/25/2019 25,483.97 06/25/2019 200,000.00 06/28/2019 200,000.00 06/28/2019 300,000.00 06/28/2019 150,000.00 06/14/2019 23,804.10 07/01/2019 71,140.85 07/05/2019 103,585.13 08/20/2019 47,285.88 06/13/2019 167,343.55 08/06/2019 106,316.96 08/06/2019 65,832.65 08/28/2019 49,348.44 10/16/2019 39,208.47 06/27/2019 244,310.56 12/11/2019 191,725.99 12/17/2019 89,395.50 12/30/2019 195,884.84 01/28/2020 65,500.30 02/07/2020 18,670.40 01/29/2020 50,284.76 06/10/2019 189,526.90 06/12/2019 89,601.74 06/10/2019 236,002.47 06/12/2019 92,548.55 06/13/2019 149,001.76 06/12/2019 83,583.46 06/13/2019 216,931.93 06/18/2019 159,611.24 06/20/2019 101,000.00 06/18/2019 146,949.65 06/07/2019 251,824.29 --- 645,000.00 06/27/2019 150,000.00 06/27/2019 359,946.61 06/28/2019 200,000.00 06/28/2019 190,000.00 06/26/2019 200,000.00 06/28/2019 90,752.01 07/01/2019 179,308.07 06/28/2019 62,412.68 07/22/2019 220,277.07 07/22/2019 83,875.08 --- 95,204.13 06/28/2019 150,364.19 06/27/2019 141,365.35 08/01/2019 147,740.16 08/07/2019 300,000.00 08/21/2019 44,211.27 08/22/2019 142,533.15 09/09/2019 275,000.00 09/09/2019 200,000.00 09/09/2019 260,122.36 09/09/2019 198,602.48 505,766.50 173,909.75 646,269.00 222,450.00 339,338.26 152,765.01 107,058.26 122,984.55 150,798.55 11,772.17 159,722.82 141,080.60 82,122.65 148,350.18 77,495.13 183,977.71 146,189.35 183,602.66 204,101.56 66,243.77 25,654.20 202,593.75 201,773.44 302,496.09 152,232.42 24,086.77 72,552.56 103,779.36 48,144.79 169,330.75 110,636.09 66,040.95 49,666.51 38,718.37 249,693.01 193,253.81 93,781.46 193,007.78 66,933.12 18,845.44 51,463.30 196,426.87 92,517.30 239,874.39 96,442.11 153,855.95 86,675.39 215,711.69 159,536.42 103,840.63 151,382.60 249,030.61 652,086.14 163,248.05 363,419.53 205,437.50 195,907.81 211,593.75 94,098.49 184,834.40 62,988.75 224,295.41 85,303.58 91,028.49 153,330.36 143,353.30 150,688.75 310,207.03 44,708.65 143,685.66 307,108.40 210,125.00 276,024.38 206,150.93 517,535.00 175,159.25 651,826.50 236,390.00 341,573.86 152,790.56 109,310.48 124,403.36 153,989.25 11,763.27 164,618.18 141,085.53 82,640.27 150,107.15 77,829.01 189,965.10 149,321.31 184,726.20 206,780.00 67,330.19 26,076.47 202,922.00 204,396.00 306,114.00 154,338.00 23,916.69 73,954.47 107,602.17 49,655.85 168,123.37 113,279.66 66,256.61 51,150.15 39,692.31 245,893.69 197,339.73 95,425.23 200,548.85 68,536.89 19,176.55 52,622.00 199,274.27 94,171.43 239,766.70 96,879.83 156,590.42 87,881.32 216,925.42 156,672.79 104,151.20 152,242.78 253,493.88 663,795.30 172,864.50 371,266.93 206,254.00 205,247.50 225,738.00 94,657.07 184,622.76 64,041.65 229,123.40 85,925.83 93,972.19 156,521.60 145,846.63 158,510.41 323,337.00 45,716.22 145,128.67 320,185.25 221,280.00 286,686.05 214,999.11 ATTACHMENT 3 13,548.00 260.33 2,639.53 15,184.90 4,548.51 1,550.28 1,993.27 1,147.76 3,023.76 44.12 4,716.65 430.95 (0.83) 2,098.03 752.76 5,847.88 3,195.16 947.12 3,638.72 1,288.23 456.63 1,874.50 3,157.58 4,407.08 2,683.61 50.80 1,596.79 3,853.35 1,543.04 526.07 2,987.53 354.26 1,521.09 942.70 (572.21) 4,144.99 1,691.83 7,508.23 1,615.28 334.10 1,181.74 4,214.63 2,190.18 1,494.44 1,319.08 3,529.21 1,672.37 786.26 (2,002.95) 1,373.91 2,798.68 3,810.07 13,422.40 10,700.33 8,778.85 2,260.83 10,211.65 15,155.23 1,499.87 2,043.36 860.01 4,584.14 1,093.42 2,142.99 3,260.51 1,860.86 8,082.95 13,633.12 1,000.66 1,608.95 14,841.36 11,991.66 11,091.81 9,142.82 2.375 0.399 AAA 1.375 0.281 AAA 1.500 0.249 AAA 3.250 1.039 AAA 3.230 0.994 AAA 3.989 1.203 AAA 1.500 0.885 AAA 1.750 0.893 AAA 2.000 0.790 AAA 4.000 -0.264 AAA 2.000 0.917 AAA 1.055 1.464 AAA 1.537 3.263 AAA 3.500 1.253 AAA 1.155 1.304 AAA 2.000 1.052 AAA 2.500 0.694 AAA 2.141 2.034 AAA 2.637 1.277 AAA 3.500 1.077 AAA 3.000 1.174 AAA 3.500 0.773 AAA 2.396 1.262 AAA 2.373 1.263 AAA 2.573 1.270 AAA 5.500 0.617 AAA 3.500 0.915 AAA 2.500 0.747 AAA 3.000 0.894 AAA 3.808 1.435 AAA 4.000 0.768 AAA 3.526 2.173 AAA 2.500 0.385 AAA 1.500 0.733 AAA 4.333 2.184 AAA 2.500 0.875 AAA 4.000 1.846 AAA 2.000 1.430 AAA 3.500 0.788 AAA 2.500 1.146 AAA 3.000 0.832 AAA 4.000 0.609 AAA 4.000 0.512 AAA 3.763 1.372 AAA 4.500 1.373 AAA 4.000 0.472 AAA 4.000 0.880 AAA 2.150 1.998 AAA 1.862 3.640 AAA 3.770 1.455 AAA 4.355 0.196 AAA 1.583 0.868 AAA 2.510 1.278 AAA 3.600 1.495 AAA 2.522 0.932 AAA 3.090 1.552 AAA 2.920 0.994 AAA 3.281 1.417 AAA 5.500 0.456 AAA 4.295 1.577 AAA 2.623 0.850 AAA 3.022 0.763 AAA 3.330 1.640 AAA 1.400 2.010 AAA 2.838 0.921 AAA 2.570 2.049 AAA 2.631 1.274 AAA 2.550 1.603 AAA 2.332 0.943 AAA 2.349 1.208 AAA 3.563 1.535 AAA 2.849 0.985 AAA 3.010 1.681 AAA 2.570 1.534 AAA 226 Page 7 of 45 KFRIVERSIDE COUNTY TRANSPORTATION COMMISSION 91 CIP STAMP Portfolio by Account for quarter ended March 31, 2020 .11.1M1.- [256350018 MIM-RCTC 91 TIBIA Reserve 36178NB99 Agency MBS' Govemment National Mortgage Association 08/15/2027 10/11/2019 46,875.87 47,395.90 --- 48,779.96 1,400.47 2.500 0.979 AAA 227 Page 8 of 45 ISIFRIVERSIDE COUNTY TRANSPORTATION COMMISSION 91 CIP STAMP Portfolio by Account for quarter ended March 31, 2020 Source Security Type Account Account Identifier Category Issuer r Current Face Next Call Base Net Total Summarized Final Maturity Trade Date Value Original Cost Date Base Market Value Unrealized Gain/Loss Coupon Yield Credit Rating 256350018 256350018 256350018 256350018 256350018 256350018 256350018 256350018 256350018 256350018 256350018 256350018 256350018 256350018 256350018 256350018 256350018 256350018 256350018 256350018 256350018 MIM-RCTC 91 TIFIA Reserve MIM-RCTC 91 TIFIA Reserve MIM-RCTC 91 TIFIA Reserve MIM-RCTC 91 TIFIA Reserve MIM-RCTC 91 TIFIA Reserve MIM-RCTC 91 TIFIA Reserve MIM-RCTC 91 TIFIA Reserve MIM-RCTC 91 TIFIA Reserve MIM-RCTC 91 TIFIA Reserve MIM-RCTC 91 TIFIA Reserve MIM-RCTC 91 TIFIA Reserve MIM-RCTC 91 TIFIA Reserve MIM-RCTC 91 TIFIA Reserve MIM-RCTC 91 TIFIA Reserve MIM-RCTC 91 TIFIA Reserve MIM-RCTC 91 TIFIA Reserve MIM-RCTC 91 TIFIA Reserve MIM-RCTC 91 TIFIA Reserve MIM-RCTC 91 TIFIA Reserve MIM-RCTC 91 TIFIA Reserve MIM-RCTC 91 TIFIA Reserve 36202FA30 Agency MBS 3137BJQ71 Agency IVIES 3137BLAC2 Agency MBS 36179M4J6 Agency IVIES 3138NJAE8 Agency MBS 36202F2H8 Agency IVIES 3137FPJF3 Agency MBS 3137FQ3Y7 Agency MBS 3132CJA12 Agency MBS 31417YKF3 Agency MBS 62888VAA6 CMO 31846V401 MM Fund 9128285W6 TIPS 912828V49 TIPS 9128286N5 TIPS 912828L57 US Gov 912828XB1 US Gov 912828L99 US Gov 912828YK0 US Gov 912828Y53 US Gov 9128281358 US Gov Government National Mortgage Association Freddie Mac Freddie Mac Government National Mortgage Association Federal National Mortgage Association Government National Mortgage Association Freddie Mac Freddie Mac Freddie Mac Federal National Mortgage Association NCUA Guaranteed Notes Trust 2010-RI First American Funds, Inc. - Government Obligations Fund United States Department of The Treasury United States Department of The Treasury United States Department of The Treasury United States Department of The Treasury United States Department of The Treasury United States Department of The Treasury United States Department of The Treasury United States Department of The Treasury United States Department of The Treasury 09/20/2024 05/25/2025 10/30/2019 06/25/2025 --- 03/20/2028 11/20/2019 12/01/2020 10/07/2019 01/20/2027 12/12/2019 06/25/2029 01/08/2020 07/25/2029 01/08/2020 09/01/2029 01/28/2020 01/01/2030 02/04/2020 10/07/2020 06/24/2019 03/31/2020 --- 01/15/2029 --- 01/15/2027 06/25/2019 04/15/2024 08/01/2019 09/30/2022 09/10/2019 05/15/2025 09/11/2019 10/31/2020 06/25/2019 10/15/2022 12/05/2019 07/31/2020 --- 01/31/2021 06/26/2019 10/23/2019 38,796.32 200,000.00 150,000.00 175,313.68 18,897.98 194,358.35 198,699.84 198,930.31 106,082.87 25,882.99 16,811.47 0.00 265,597.80 309,664.90 296,588.80 1,000,000.00 450,000.00 1,050,000.00 225,000.00 985,000.00 1,500,000.00 19,706,03810 40,420.92 206,296.88 159,648.05 177,422.93 19,101.72 199,156.59 199,600.19 199,000.24 109,091.32 27,848.48 16,803.59 324,154.22 280,460.80 312,060.05 300,810.33 1,006,210.94 462,076.17 1,043,683.60 223,549.80 984,986.26 1,506,269.53 20,331,649.25 41,245.54 214,506.00 163,705.50 181,942.29 18,886.26 202,558.33 209,411.75 208,890.75 111,169.55 28,190.20 16,800.88 324,154.22 288,500.30 316,877.00 300,874.51 1,037,230.00 488,934.00 1,057,549.50 231,345.00 984,980.30 1,525,905.00 20,732,372.11 987.43 8,672.50 4,681.17 4,568.80 (162.63) 3,551.80 9,847.53 9,900.70 2,040.04 358.91 (7.41) 0.00 9,124.27 5,056.24 651.56 32,119.40 27,978.44 10,291.49 7,635.23 (9.73) 22,603.85 440,457.86 4.500 2.770 3.284 2.500 3.630 3.000 2.258 2.190 3.000 4.500 2.116 0.010 0.875 0.579 1.279 1.377 1.143 3.484 1.259 1.267 1.295 1.134 0.536 1.390 0.010 -0.101 0.375 0.032 0.500 0.142 1.750 0.255 2.125 0.416 1.375 0.140 1.375 0.261 0.128 0.136 2.125 0.056 AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Pond MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Pond MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Pond MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Pond MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Pond MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Pond MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Pond MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Pond MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Pond MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Pond MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Pond MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Pond 38378CDK0 Agency CMO 38378AWX5 Agency CMO 31397LUK3 Agency CMO 3136A5KR6 Agency CMO 3137ABFH9 Agency CMG 38378BXQ7 Agency CMO 3137A2PV7 Agency CMO 3137A1N90 Agency CMO 31394GUX9 Agency CMO 3136A72D3 Agency CMO 38377REV3 Agency CMO 3137AYCE9 Agency CMO 3137GAUY1 Agency CMG 3137A1LC5 Agency CMO 3137ATRW4 Agency CMO 3136A1HC2 Agency CMO 3137A5FP4 Agency CMG 38378PPK8 Agency CMO 3137AH6C7 Agency CMG 3137ADTJ6 Agency CMO 3137AXHN6 AgencyMBS 3137B1UF7 Agency MBS 3137AWQG3 Agency MBS 31381RZ23 Agency MBS 3138IRLL6 AgencyMBS 3138L2GH4 Agency MBS 3138L1W62 Agency IVIES 31381SVJ8 Agency MBS 31397UPF0 AgencyMBS 3138L8H23 Agency MBS 3128MMPY3 Agency MBS 3128MMPP2 Agency MBS 3620ARB67 Agency MBS 38378KW47 Agency MBS 314016DU8 Agency MBS 3138EKXIA Agency MBS 3136AMM48 Agency MBS 3137APP61 Agency MBS 31418CQM9 Agency MBS 36178NB99 Agency MBS 3132G5AV1 AgencyMBS 36179M4J6 Agency MBS 31416BVR6 Agency MBS 36202F2H8 Agency MBS 3138IQB54 AgencyMBS 65478DAD9 Asset Backed 65478HAD0 Asset Backed 47789JAB2 Asset Backed 31680YAB3 Asset Backed 477870AB5 Asset Backed 65478LAB5 Asset Backed Government National Mortgage Association Government National Mortgage Association Federal National Mortgage Association Federal National Mortgage Association Freddie Mac Government National Mortgage Association Freddie Mac Freddie Mac Freddie Mac Federal National Mortgage Association Government National Mortgage Association Freddie Mac Freddie Mac Freddie Mac Freddie Mac Federal National Mortgage Association Freddie Mac Government National Mortgage Association Freddie Mac Freddie Mac Freddie Mac Freddie Mac Freddie Mac Federal National Mortgage Association Federal National Mortgage Association Federal National Mortgage Association Federal National Mortgage Association Federal National Mortgage Association Federal National Mortgage Association Federal National Mortgage Association Freddie Mac Freddie Mac Government National Mortgage Association Government National Mortgage Association Federal National Mortgage Association Federal National Mortgage Association Federal National Mortgage Association Freddie Mac Federal National Mortgage Association Government National Mortgage Association Freddie Mac Government National Mortgage Association Federal National Mortgage Association Government National Mortgage Association Federal National Mortgage Association Nissan Auto Receivables 2018-A Owner Trust Nissan Auto Receivables 2017-C Owner Trust John Deere Owner Trust 2019 Fifth Third Auto Trust 2019-1 John Deere Owner Trust 2019-B Nissan Auto Lease Trust 2019-B 03/20/2035 01/30/2018 01/20/2036 01/30/2018 06/25/2023 10/10/2018 10/25/2022 01/25/2019 06/25/2021 03/15/2019 01/16/2036 06/17/2019 09/15/2022 06/03/2019 06/25/2020 06/26/2018 08/15/2023 07/02/2019 04/25/2022 07/26/2019 10/20/2039 07/01/2019 10/25/2022 08/13/2019 10/15/2022 08/15/2019 08/15/2020 01/17/2018 05/25/2022 08/19/2019 01/25/2023 01/02/2020 01/15/2021 01/30/2018 12/20/2038 01/08/2020 07/25/2021 03/11/2020 04/25/2021 03/11/2020 02/25/2022 01/25/2018 09/25/2022 01/25/2018 04/25/2022 --- 08/01/2021 11/02/2018 07/01/2021 11/02/2018 07/01/2021 --- 12/01/2022 02/21/2019 11/01/2021 02/22/2019 06/25/2021 03/15/2019 12/01/2021 05/02/2019 06/01/2027 05/10/2019 03/01/2027 05/10/2019 05/15/2025 06/10/2019 08/16/2035 06/13/2019 08/01/2031 07/26/2019 03/01/2023 08/21/2019 07/25/2022 08/01/2019 01/25/2022 09/06/2019 10/01/2027 09/11/2019 08/15/2027 10/11/2019 07/01/2028 10/11/2019 03/20/2028 11/20/2019 12/01/2020 01/17/2018 01/20/2027 12/12/2019 03/01/2021 11/07/2018 05/16/2022 06/29/2018 04/18/2022 09/25/2018 10/15/2021 03/05/2019 05/16/2022 04/30/2019 05/16/2022 07/16/2019 10/15/2021 07/16/2019 8,898.51 12,944.54 98,253.76 63,196.09 206,000.00 61,446.05 25,972.36 35,471.41 25,556.66 29,799.72 142,281.71 360,000.00 133,983.80 304.42 100,000.00 19,395.28 21,512.21 97,231.95 38,107.20 480,742.86 19,505.74 11,812.08 39,347.55 59,814.60 51,910.15 123,621.96 124,692.68 83,875.07 118,001.24 67,518.90 186,223.77 202,670.31 62,070.06 83,838.43 189,198.48 47,158.69 338,657.77 14,844.20 52,209.96 117,189.68 69,122.44 146,094.74 0.00 85,517.67 98,087.96 65,530.88 45,788.34 60,454.91 94,643.59 89,451.36 73,870.21 8,980.54 13,069.93 100,234.19 62,327.14 209,846.41 60,831.59 25,517.84 35,795.64 26,642.82 29,974.13 145,105.10 367,790.63 132,602.09 303.42 101,109.38 19,536.96 21,565.99 97,919.41 38,845.53 490,583.07 19,237.54 11,638.59 38,615.92 60,702.47 52,680.70 121,004.32 123,952.31 84,294.45 119,697.50 67,307.98 185,409.04 201,783.63 64,329.80 83,366.84 190,469.66 47,689.22 340,562.72 15,086.57 53,539.69 118,489.75 70,418.49 147,852.44 0.00 87,628.90 100,118.68 65,192.99 45,074.69 60,452.15 94,638.37 89,451.02 73,863.75 8,926.54 13,085.50 101,259.34 63,445.71 211,240.64 61,215.01 26,230.53 35,478.15 26,989.37 30,290.82 147,908.95 371,710.80 135,004.75 304.39 102,038.00 19,590.79 21,736.80 100,514.50 39,037.01 491,223.05 19,662.17 11,914.49 39,608.42 61,174.78 52,983.13 124,817.38 124,363.49 85,925.82 119,883.35 67,433.16 193,346.83 210,414.34 65,262.32 83,835.91 196,406.95 48,763.97 344,055.97 15,254.34 54,667.48 121,949.92 72,348.38 151,618.58 0.00 89,125.66 99,437.65 65,751.72 45,808.95 60,615.11 94,898.18 89,576.59 73,835.49 24.34 107.69 2,085.39 775.62 3,202.62 (0.61) 625.17 52.64 519.46 313.92 3,193.59 5,585.81 2,200.79 0.32 1,218.40 92.21 217.85 2,624.72 216.51 1,102.10 301.07 201.83 702.37 879.29 687.68 2,420.45 284.00 1,884.93 993.21 108.33 7,889.34 8,588.93 1,380.29 303.87 6,010.54 1,067.37 3,915.90 235.17 1,206.93 3,501.17 1,991.79 3,807.33 0.00 1,562.79 681.16 316.04 246.54 161.18 256.55 125.30 (32.03) 3.000 0.508 AAA 3.000 0.595 AAA 4.500 0.800 AAA 1.750 0.893 AAA 3.989 1.203 AAA 1.537 3.263 AAA 1.500 0.789 AAA 3.531 1.559 AAA 5.500 1.159 AAA 2.482 1.373 AAA 3.500 0.915 AAA 2.682 1.269 AAA 1.500 0.892 AAA 2.000 1.111 AAA 2.373 1.263 AAA 3.500 0.744 AAA 2.500 0.697 AAA 2.500 0.530 AAA 3.230 0.994 AAA 3.871 1.182 AAA 1.749 0.819 AAA 1.785 0.939 AAA 1.583 0.868 AAA 3.840 1.803 AAA 3.840 1.808 AAA 1.870 0.909 AAA 2.500 2.557 AAA 3.330 1.640 AAA 3.763 1.372 AAA 2.730 2.711 AAA 2.500 1.037 AAA 2.500 1.010 AAA 4.000 0.609 AAA 2.150 1.998 AAA 2.500 1.151 AAA 2.332 0.943 AAA 2.509 1.441 AAA 2.789 0.896 AAA 3.000 1.148 AAA 2.500 0.979 AAA 3.000 1.228 AAA 2.500 1.143 AAA 5.000 0.028 AAA 3.000 1.259 AAA 4.410 2.262 AAA 2.650 2.050 AAA 2.120 2.028 AAA 2.850 2.152 AAA 2.660 1.917 AAA 2.280 1.996 AAA 2.270 2.378 AAA 228 Page 9 of 45 ISIFRIVERSIDE COUNTY TRANSPORTATION COMMISSION 91 CIP STAMP Portfolio by Account for quarter ended March 31, 2020 Source Security Type Current Face Next Call Base Net Total Summarized 256350021 MIM-RCTC 2013 Residual Fund 38013FAD3 Asset Backed GM Financial Consumer Automobile Receivables Trust 2018-4 10/16/2023 07/24/2019 75,000.00 76,374.02 75,973.50 176.53 3.210 1.821 AAA 229 Page 10 of 45 ISIFRIVERSIDE COUNTY TRANSPORTATION COMMISSION 91 CIP STAMP Portfolio by Account for quarter ended March 31, 2020 Source Security Type Current Face Next Call Base Net Total Summarized 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund 14315PAB1 87165LBB6 26209AAE1 12596EAC8 26208RAD7 02582711/2 17305EFM2 14315XAC2 17305EGK5 14041NFUO 62888VAA6 62888UAB6 06416CAC2 90331HNP4 06406FAB9 172967LC3 06051GFN4 69371RP34 86787EBD8 14913Q2X6 025816CE7 05531FAU7 06051GEC9 94974BGM6 55279HAN0 375558BB8 05531FB71 780082AC7 17308CC46 17401QAN1 31677QBK4 61747WAF6 95000U2B8 69353RFU7 74456QBP0 02581RDD2 50000DDD5 23336GD65 14918ED16 40248CDL2 31846V401 072024W W8 783186TZ2 459058GK3 4581X0CZ9 912828UH1 9128286N5 912828L57 912828Y53 912828VV9 912828YK0 9128285H9 912828T67 9128286119 912828743 912828658 658886DZ6 196480CW5 Asset Backed Asset Backed Asset Backed Asset Backed Asset Backed Asset Backed Asset Backed Asset Backed Asset Backed Asset Backed CMO CMO Corporate Corporate Corporate Corporate Corporate Corporate Corporate Corporate Corporate Corporate Corporate Corporate Corporate Corporate Corporate Corporate Corporate Corporate Corporate Corporate Corporate Corporate Corporate CP CP CP CP CP MM Fund Mons Muni Non -US Gov Non -US Gov TIPS TIPS US Gov US Gov US Gov US Gov US Gov US Gov US Gov US Gov US Gov VRDN VRDN Carmex Auto Owner Trust 2019-3 12/15/2022 07/24/2019 112,360.63 112,355.58 112,686.48 328.52 2.210 1.747 Synchrony Credit Card Master Note Trust 2016-2 Drive Auto Receivables Trust 2019-4 CNH Equipment Trust 2018-B Drive Auto Receivables Trust 2019-2 American Express Credit Account Master Trust, Series 2017-6 Citibank Credit Card Issuance Trust - 2014-Al Carmax Auto Owner Trust 2020-1 Citibank Credit Card Issuance Trust Capital One Multi -Asset Execution Trust, Series 2019-2 NCUA Guaranteed Notes Trust 2010-R1 NCUA Guaranteed Notes Trust 2010-R2 The Bank of Nova Scotia U.S. Bank National Association The Bank of New York Mellon Corporation Citigroup Inc. Bank of America Corporation PACCAR Financial Corp. Sui rest Bank Caterpillar Financial Services Corporation American Express Company Truist Financial Corporation Bank of America Corporation Wells Fargo & Company Manufacturers & Traders Trust Company Gilead Sciences, Inc. Truist Financial Corporation Royal Bank of Canada Citigroup lnc. Citizens Bank, National Association Fifth Third Bank Morgan Stanley Wells Fargo & Company PNC Bank, National Association Public Service Electric and Gas Company American Express Credit Corporation KOCH INDUSTRIES INC DTE Electric Company CommonSpirit Health Gulf Power Company First American Funds, Inc. - Government Obligations Fund Bay Area Toll Authority Rutgers, The State University of New Jersey International Bank for Reconstruction and Development Inter -American Development Bank United States Department of The Treasury United States Department of The Treasury United States Department of The Treasury United States Department of The Treasury United States Department of The Treasury United States Department of The Treasury United States Department of The Treasury United States Department of The Treasury United States Department of The Treasury United States Department of The Treasury United States Department of The Treasury North Dakota Housing Finance Agency Colorado Housing and Finance Authority, Inc. 05/17/2021 08/02/2019 01/16/2024 09/09/2019 11/15/2023 12/05/2019 03/15/2023 12/05/2019 10/15/2020 12/05/2019 01/23/2023 12/11/2019 12/16/2024 01/14/2020 01/20/2021 07/19/2019 09/15/2022 03/13/2020 10/07/2020 05/10/2019 11/05/2020 03/15/2019 04/26/2021 --- 04/26/2021 _ 10/11/2018 05/03/2021 10/11/2018 12/08/2021 --- 04/21/2020 01/25/2018 05/10/2021 04/30/2019 05/17/2022 05/14/2019 05/17/2021 05/14/2019 05/20/2022 05/15/2019 06/29/2020 04/15/2019 07/01/2020 --- 07/22/2020 04/15/2019 08/17/2020 10/11/2018 09/01/2020 --- 03/16/2023 09/09/2019 10/14/2020 --- 11/04/2022 10/28/2019 10/30/2020 _ 04/15/2019 10/30/2020 06/21/2019 01/25/2021 --- 07/22/2022 02/19/2020 02/24/2023 02/20/2020 03/15/2021 03/25/2020 04/13/2020 03/10/2020 04/13/2020 03/26/2020 04/06/2020 03/26/2020 04/01/2020 03/30/2020 04/20/2020 03/31/2020 03/31/2020 --- 04/01/2022 09/20/2019 05/01/2022 10/18/2019 08/21/2020 --- 09/14/2022 09/30/2019 01/15/2023 --- 04/15/2024 --- 09/30/2022 --- 07/31/2020 --- 08/31/2020 --- 10/15/2022 10/31/2020 --- 10/31/2021 12/09/2019 05/15/2022 --- 02/28/2022 12/30/2019 01/31/2021 --- 07/01/2038 06/29/2018 10/01/2051 03/19/2020 160,000.00 80,000.00 190,000.00 150,000.00 200,000.00 200,000.00 60,000.00 100,000.00 100,000.00 0.01 137,452.67 200,000.00 250,000.00 200,000.00 450,000.00 100,000.00 200,000.00 50,000.00 120,000.00 100,000.00 250,000.00 200,000.00 200,000.00 250,000.00 135,000.00 165,000.00 200,000.00 195,000.00 250,000.00 200,000.00 200,000.00 235,000.00 250,000.00 125,000.00 350,000.00 650,000.00 600,000.00 550,000.00 200,000.00 0.00 95,000.00 105,000.00 315,000.00 650,000.00 100,573.20 419,315.20 2,150,000.00 1,775,000.00 2,260,000.00 1,030,000.00 700,000.00 480,000.00 420,000.00 125,000.00 1,730,000.00 100,000.00 460,000.00 26,138,523.60 160,387.50 --- 79,989.10 --- 193,102.34 --- 150,738.28 --- 200,375.00 --- 202,210.16 --- 59,988.23 --- 100,625.00 --- 100,312.50 --- 0.01 137,656.70 --- 194,126.00 --- 249,395.00 03/26/2021 193,708.00 04/03/2021 449,617.50 11/08/2021 99,537.00 200,250.00 --- 50,000.00 04/17/2022 120,000.00 --- 100,000.00 04/19/2022 249,642.50 05/29/2020 207,806.00 --- 199,590.00 --- 244,707.50 07/17/2020 133,439.10 --- 164,877.90 02/13/2023 196,622.00 --- 195,000.00 11/04/2021 247,950.00 --- 199,810.00 09/30/2020 213,237.00 --- 239,479.10 --- 250,000.00 02/24/2022 122,811.25 02/15/2021 349,534.79 649,317.50 599,422.50 549,880.83 199,650.00 182,187.22 95,000.00 105,000.00 315,116.40 652,067.00 98,702.88 426,690.91 2,158,926.57 1,774,332.62 2,251,428.13 1,021,835.16 699,678.39 476,306.25 425,850.01 125,463.87 1,727,976.96 100,000.00 460,000.00 04/20/2020 26,363,220.26 159,568.00 78,628.00 189,232.40 150,405.00 200,260.00 201,738.00 60,184.80 100,730.00 100,964.00 0.01 137,467.79 200,104.00 252,107.50 200,928.00 453,460.50 99,984.00 191,850.00 48,758.00 117,571.20 95,909.00 249,537.50 201,254.00 200,038.00 249,370.00 135,402.30 165,100.65 199,558.00 194,257.05 250,590.00 199,358.00 205,284.00 235,761.40 235,625.00 123,762.50 349,860.00 649,740.00 599,898.00 550,000.00 199,872.00 182,187.22 95,512.05 103,963.65 315,094.50 669,454.50 99,361.29 425,374.30 2,230,044.50 1,774,964.50 2,278,803.20 1,059,046.00 699,895.00 488,025.60 436,850.40 128,652.50 1,759,877.10 100,000.00 460,000.00 26,621,856.09 (678.83) (1,363.72) (3,211.97) 120.88 43.59 123.79 195.84 391.71 656.44 0.00 (59.39) 2,406.23 2,368.04 3,675.48 3,702.86 (4.44) (8,286.67) (1,242.00) (2,428.80) (4,091.00) (390.46) 92.16 137.77 483.81 742.03 204.40 400.90 (742.95) 1,372.19 (560.80) 655.41 (3,517.44) (14,375.00) 920.81 29.17 195.00 160.50 0.00 204.50 0.00 512.05 (1,036.35) 68.25 17,728.51 (79.34) (337.97) 71,816.97 220.83 18,935.81 36,111.99 4.49 11,118.84 11,389.90 3,241.00 28,272.95 0.00 0.00 252,640.84 2.210 2.459 2.230 3.317 3.190 3.560 3.040 1.245 2.040 1.795 2.880 1.781 1.890 1.781 2.490 1.564 1.720 1.323 2.116 1.822 2.136 1.008 1.875 1.825 3.150 2.281 2.050 1.583 2.900 2.407 2.250 2.513 1.994 5.523 2.282 3.268 2.082 3.712 2.315 4.085 2.625 3.365 5.625 3.055 2.600 2.525 2.050 2.717 2.550 1.825 2.200 2.178 2.100 2.517 2.312 1.864 2.250 1.774 2.200 2.757 5.750 2.457 2.625 2.479 2.004 3.874 1.900 2.958 0.000 1.108 0.000 1.108 0.000 1.020 0.000 0.000 0.000 1.152 0.010 0.010 2.128 1.852 2.057 2.546 0.230 0.157 1.750 0.520 0.125 0.560 0.500 0.142 1.750 0.255 0.128 0.136 2.125 0.123 1.375 0.261 0.130 0.158 1.250 0.191 2.125 0.230 1.750 0.221 2.125 0.056 3.000 3.000 4.750 4.750 AAA AAA AA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AA A A A A A A A A A A A A A AAA A A A A A A AA AAA AAA AAA NA AAA AAA AA AA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AA AAA 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MEM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MtM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MEM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MEM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MEM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 3137EADB2 Agency 3137EADR7 Agency 3135G0D75 Agency 3130AFFX0 Agency 3136A72D3 Agency CMO 3137AUPE3 Agency CMO 38377RSZ9 Agency CMO 383777Z89 Agency CMO 38376T5Z1 Agency CMO 38378TAF7 Agency CMO 38380AZ34 Agency CMO 38378CRT6 Agency CMO 38376WA62 Agency CMO 38377RVK8 Agency CMO Freddie Mac Freddie Mac Federal National Mortgage Association Federal Home Loan Banks Federal National Mortgage Association Freddie Mac Government National Mortgage Association Government National Mortgage Association Government National Mortgage Association Government National Mortgage Association Government National Mortgage Association Government National Mortgage Association Government National Mortgage Association Government National Mortgage Association 01/13/2022 --- 05/01/2020 05/15/2015 06/22/2020 05/06/2015 11/16/2028 09/11/2019 04/25/2022 07/03/2013 06/25/2022 --- 06/16/2039 --- 10/20/2039 --- 01/16/2039 01/26/2015 07/20/2041 07/05/2013 04/20/2046 11/28/2016 10/20/2040 05/22/2014 10/20/2039 --- 04/20/2039 --- 950,000.00 150,000.00 600,000.00 185,000.00 214,016.23 150,000.00 10,305.56 56,766.92 57,783.68 95,617.05 120,581.71 38,738.70 160,762.90 82,892.62 942,921.50 148,903.50 593,490.00 205,766.25 203,315.42 151,611.80 10,629.04 58,313.00 60,369.50 95,631.46 123,958.94 37,407.05 164,807.05 84,546.40 983,316.50 150,136.50 601,686.00 218,660.75 217,543.22 153,297.00 10,353.89 59,398.63 60,706.96 99,325.08 128,496.69 40,017.85 171,606.36 85,898.30 33,531.97 155.37 1,982.15 14,046.03 5,334.25 2,749.05 20.59 1,566.00 1,362.88 3,767.77 4,978.40 2,216.93 6,299.81 2,182.80 2.375 0.399 AAA 1.375 0.281 AAA 1.500 0.249 AAA 3.250 1.039 AAA 2.482 1.373 AAA 2.396 1.262 AAA 4.500 0.146 AAA 3.500 0.788 AAA 3.000 0.734 AAA 2.500 0.747 AAA 3.000 1.797 AAA 2.000 0.708 AAA 4.000 1.846 AAA 3.000 1.204 AAA 230 Page 11 of 45 ISIFRIVERSIDE COUNTY TRANSPORTATION COMMISSION 91 CIP STAMP Portfolio by Account for quarter ended March 31, 2020 ,256350023 MIM-Sr Lien Reserve Fund-1 3137AXHPI Agency CMO Freddie Mac 09/25/2022 09/29/2017 140,000.00 142,089.06 --- 144,048.80 3,118.34 2.573 1.270 AAA 231 Page 12 of 45 ISIFRIVERSIDE COUNTY TRANSPORTATION COMMISSION 91 CIP STAMP Portfolio by Account for quarter ended March 31, 2020 Source Account Account Identifier Security Type Category Issuer r Final Maturity Trade Date Current Face Value Next Call Original Cost Date Base Net Total Summarized Base Market Value Unrealized Gain/Loss Coupon Yield Credit Rating 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 MIM-Sr Lien Reserve Fund-1 MIM-Sr lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr lien Reserve Fund -I MIM-Sr Lien Reserve Fund-1 MIM-Se lien Reserve Fund -I MIM-Sr Lien Reserve Fund-1 3137ATRW4 38378B7F0 38378CDK0 38378AWX5 38378DDC6 31398QTP2 38379HLE3 38378VC45 38377JM59 3136A5KR6 38378HXH4 Agency CMO Agency CMO Agency CMO Agency CMO Agency CMO Agency CMO Agency CMO Agency CMO Agency CMO Agency CMO Agency CMO Freddie Mac Government National Mortgage Association Government National Mortgage Association Government National Mortgage Association Government National Mortgage Association Freddie Mac Government National Mortgage Association Government National Mortgage Association Government National Mortgage Association Federal National Mortgage Association Government National Mortgage Association 05/25/2022 12/16/2042 03/20/2035 01/20/2036 04/20/2038 05/15/2038 05/20/2043 12/16/2041 10/20/2039 10/25/2022 09/16/2027 03/16/2018 03/28/2018 06/20/2018 06/26/2018 10/18/2018 11/23/2018 11/21/2018 01/25/2019 03/08/2019 282,110.00 450,000.00 4,943.62 38,833.61 25,736.60 11,249.04 63,167.17 125,495.83 62,036.66 41,139.41 13,661.46 278,085.13 427,32422 4,966.79 39,042.94 25,910.52 11,469.19 63,078.34 120,966.22 60,485.74 40,573.75 13,249.33 287,859.40 451,728.00 4,959.19 39,256.50 25,820.50 11,277.17 65,227.05 128,881.71 63,416.97 41,301.92 13,784.96 8,111.34 13,660.70 17.21 379.44 85.16 17.30 2,157.84 7,296.53 2,649.97 504.91 486.35 2.373 2.273 3.000 3.000 3.500 4.500 3.500 2.250 2.500 1.750 1.250 1.263 2.170 0.508 0.595 0.557 0.641 0.158 1.222 1.174 0.893 0.807 AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA 256350023 256350023 256350023 MIM-Sr lien Reserve Fund -I MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 3137B5A60 3137B4HD1 38375XCM4 Agency CMO Agency CMO Agency CMO Freddie Mac Freddie Mac Government National Mortgage Association 10/15/2028 03/20/2019 12/15/2042 03/20/2019 11/16/2037 05/14/2019 20,448.54 32,818.02 51,617.65 20,218.49 33,894.86 53,079.48 21,002.89 34,847.81 53,984.84 744.20 1,023.27 1,216.77 2.500 1.146 4.500 1.115 5.000 1.156 AAA AAA AAA 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 256350023 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 3136ADFF1 3137ABFH9 38377REV3 38377QKH9 38376GY53 38379JM99 38374C4J7 38378JZD7 3137BDKF2 3137A5FP4 38378FRB8 38378CNY9 38376TTT9 38379KDN5 36202F2H8 38378XP62 38378KWU9 3138EJPZ5 31381T4E7 3136A7MN9 31417YKF3 38378KRS0 38378KXW4 3138EKXL4 38378K5L4 3136AHAEO 38378B6A2 3137B1U75 31381Q6B7 3136AC7J4 31381R5T7 31381SVJ8 3138L1W62 3137F4D41 3620ARB67 3137FBAJ5 3137B1BS0 3137FNAD2 3138LFGP7 36178NB99 36202FA30 31381PEB0 36179M416 3138NIAE8 3137FPJF3 3137FQ3Y7 3132CJAJ2 31381QB54 36179NHK7 62888VAA6 CCYUSD CCYUSD 31846V401 912828V49 9128285W6 9128286N5 912828L57 Agency CMO Agency CMO Agency CMO Agency CMO Agency CMO Agency CMO Agency CMO Agency CMO Agency CMO Agency CMO Agency CMO Agency CMO Agency CMO Agency MBS Agency MBS Agency MBS Agency MBS Agency MBS Agency MBS Agency MBS Agency MBS Agency MBS Agency MBS Agency MBS Agency MBS Agency MBS Agency MBS Agency MBS Agency MBS Agency MBS Agency MBS Agency MBS Agency MBS Agency MBS Agency MBS Agency MBS Agency MBS Agency MBS Agency MBS Agency MBS Agency MBS Agency MBS Agency MBS Agency MBS Agency MBS Agency MBS Agency MBS Agency MBS Agency MBS CMO Currency Currency MM Fund TIPS TIPS TIPS US Gov Federal National Mortgage Association Freddie Mac Government National Mortgage Association Government National Mortgage Association Government National Mortgage Association Government National Mortgage Association Government National Mortgage Association Government National Mortgage Association Freddie Mac Freddie Mac Government National Mortgage Association Government National Mortgage Association Government National Mortgage Association Government National Mortgage Association Government National Mortgage Association Government National Mortgage Association Government National Mortgage Association Federal National Mortgage Association Federal National Mortgage Association Federal National Mortgage Association Federal National Mortgage Association Government National Mortgage Association Government National Mortgage Association Federal National Mortgage Association Government National Mortgage Association Federal National Mortgage Association Government National Mortgage Association Freddie Mac Federal National Mortgage Association Federal National Mortgage Association Federal National Mortgage Association Federal National Mortgage Association Federal National Mortgage Association Freddie Mac Government National Mortgage Association Freddie Mac Freddie Mac Freddie Mac Federal National Mortgage Association Government National Mortgage Association Government National Mortgage Association Federal National Mortgage Association Government National Mortgage Association Federal National Mortgage Association Freddie Mac Freddie Mac Freddie Mac Federal National Mortgage Association Government National Mortgage Association NCUA Guaranteed Notes Trust 2010-RI UNITED STATES OF AMERICA UNITED STATES OF AMERICA First American Funds, Inc. - Government Obligations Fund United States Department of The Treasury United States Department of The Treasury United States Department of The Treasury United States Department of The Treasury 04/25/2023 06/25/2021 10/20/2039 08/20/2040 01/16/2040 02/16/2041 07/20/2020 12/20/2040 09/15/2040 01/15/2021 07/20/2042 11/20/2038 11/20/2039 09/16/2055 01/20/2027 05/16/2055 11/16/2041 07/01/2022 03/01/2022 05/25/2022 01/01/2030 07/16/2043 02/16/2037 03/01/2023 12/16/2046 04/25/2023 11/16/2052 01/25/2023 06/01/2021 03/25/2023 09/01/2021 11/01/2021 12/01/2022 01/25/2028 05/15/2025 08/25/2027 11/25/2022 11/25/2028 10/01/2028 08/15/2027 09/20/2024 11/01/2020 03/20/2028 12/01/2020 06/25/2029 07/25/2029 09/01/2029 03/01/2021 07/20/2028 10/07/2020 03/31/2020 03/31/2020 03/31/2020 01/15/2027 01/15/2029 04/15/2024 09/30/2022 06/10/2019 07/22/2019 07/01/2019 08/20/2019 08/06/2019 08/28/2019 10/21/2019 10/16/2019 11/13/2019 12/30/2019 02/04/2020 01/29/2020 08/05/2015 05/14/2015 08/29/2016 10/25/2016 08/29/2016 05/08/2015 12/11/2014 10/28/2016 01/22/2015 08/29/2016 07/15/2016 02/21/2018 08/29/2018 02/22/2019 02/21/2019 04/01/2019 06/10/2019 06/26/2019 07/31/2019 08/01/2019 08/07/2019 10/11/2019 10/23/2019 09/26/2014 11/20/2019 01/08/2020 01/08/2020 01/28/2020 11/07/2018 03/31/2020 01/22/2019 102,585.24 100,000.00 66,398.13 43,825.94 59,409.95 45,823.55 10,497.95 36,902.10 56,032.25 60,177.31 185,575.11 110,000.00 46,261.98 101,124.95 125,166.78 241,068.83 155,147.47 195,801.84 252,999.23 259,151.19 109,998.39 450,000.00 93,240.57 218,108.92 425,000.00 52,181.09 109,708.05 364,745.90 179,308.07 38,958.65 130,000.00 104,843.84 163,059.66 35,000.00 94,763.45 200,000.00 360,000.00 132,966.14 275,000.00 35,156.90 35,692.62 244,714.48 43,828.42 18,897.97 183,797.35 184,010.53 97,596.24 127,940.81 198,992.19 68,179.86 0.00 0.00 0.00 298,986.80 255,382.50 271,020.80 1,400,000.00 101,110.58 102,574.22 67,715.72 44,622.00 59,597.92 46,118.91 10,583.25 36,440.82 57,323.62 60,184.12 182,849.47 110,721.88 47,346.24 98,541.52 129,010.95 244,044.52 147,425.63 207,970.62 264,334.79 266,561.30 115,273.19 434,460.94 92,788.94 215,008.61 415,829.11 53,306.25 106,249.67 379,065.02 198,863.86 38,317.96 132,747.27 105,368.07 162,091.49 36,714.84 98,213.43 211,593.75 363,360.94 135,619.88 284,356.45 35,546.93 37,187.25 257,676.70 44,355.73 19,110.57 184,630.19 184,075.23 100,364.02 130,589.58 207,573.73 68,203.83 64.70 (207,982.38) 428,674.95 297,643.95 270,641.99 275,385.58 1,386,564.45 103,237.68 102,544.00 69,024.18 46,022.50 59,792.55 47,496.57 10,547.60 37,357.47 58,144.67 60,805.56 189,993.65 111,607.10 48,412.23 102,523.51 130,447.57 245,504.50 153,139.86 203,665.25 258,962.42 263,870.33 119,803.65 454,320.00 92,935.67 225,533.35 433,644.50 53,543.02 109,001.53 376,217.15 184,622.76 40,118.84 134,056.00 107,407.27 162,629.18 40,335.05 99,637.13 225,738.00 370,490.40 142,659.37 296,392.25 36,584.97 37,945.90 244,983.67 45,485.57 18,886.25 193,705.87 193,223.94 102,275.98 129,701.27 207,916.99 68,136.90 64.70 (207,982.38) 428,674.95 305,950.20 277,404.13 274,937.05 1,452,122.00 1,882.53 924.18 1,490.34 1,430.14 319.70 1,412.44 17.90 887.25 923.03 663.57 7,113.07 1,023.17 1,087.19 2,056.22 2,470.32 2,123.50 2,795.47 1,978.96 1,574.97 2,057.99 6,238.36 11,311.66 (139.60) 8,244.20 14,540.77 662.18 1,018.39 6,275.80 610.70 1,532.90 2,911.22 2,356.15 371.39 3,801.22 2,107.32 15,155.23 7,920.33 7,274.66 12,497.02 1,050.35 908.43 (451.21) 1,142.20 (123.61) 9,108.95 9,158.15 1,876.83 888.47 343.26 (50.16) 0.00 0.00 0.00 7,912.62 7,799.25 139.18 58,581.72 1.500 3.989 3.500 3.000 3.526 2.500 5.500 1.500 3.500 2.500 2.000 3.500 3.000 2.185 3.000 2.500 1.400 3.022 2.670 2.349 4.500 2.389 1.705 2.332 2.820 0.885 1.203 0.915 0.894 2.173 0.385 0.617 0.733 1.077 0.697 1.430 0.773 0.832 2.258 1.259 2.045 2.010 0.763 1.347 1.208 0.536 2.052 1.936 0.943 2.484 2.623 0.850 1.826 2.025 2.522 0.932 4.295 1.577 2.535 1.582 3.770 1.455 3.330 1.640 2.500 2.557 3.600 1.495 4.000 0.609 3.281 1.417 2.510 1.278 2.631 1.274 2.550 1.603 2.500 0.979 4.500 0.579 3.370 2.740 2.500 1.143 3.630 3.484 2.258 1.267 2.190 1.295 3.000 1.134 4.410 2.262 3.000 1.409 2.116 1.390 0.000 0.000 0.000 0.000 0.010 0.010 0.375 0.032 0.875 -0.101 0.500 0.142 1.750 0.255 AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA 232 Page 13 of 45 ISIFRIVERSIDE COUNTY TRANSPORTATION COMMISSION 256350023 MIM-Sr Lien Reserve Fund-1 912828G38 US Gov 91 CIP STAMP Portfolio by Account for quarter ended March 31, 2020 United States Department of The Treasury 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 912828XB1 US Gov 912828743 US Gov 912828YK0 US Gov 9128281358 US Gov United States Department of The Treasury United States Department of The Treasury United States Department of The Treasury United States Department of The Treasury 11/15/2024 05/15/2025 02/28/2022 10/15/2022 O1/31/2021 04/18/2017 1,350,000.00 1,369,037.11 --- 1,125,000.00 1,143,342.78 11/26/2019 150,000.00 150,544.92 --- 670,000.00 664,428.32 --- 1,375,000.00 1,405,890.24 18,160,752.97 18,533,963.13 1,465,911.00 1,222,335.00 154,383.00 688,894.00 1,398,746.25 19,080,313.00 103,941.21 87,588.96 3,919.09 23,887.83 18,578.10 596,784.80 2.250 2.125 1.750 1.375 2.125 0.375 0.416 0.221 0.261 0.056 AAA AAA AAA AAA AAA 64,005,314.77 65,228,832.64 66,434,541.19 1,289,883.49 233 Page 14 of 45 IMFRIVERSIDE COUNTY TRANSPORTATION COMMISSION 91 CIP STAMP Portfolio Transaction Report by Account Quarter ended March 31, 2020 ATTACHMENT 4 Source Beginning Base Base Maturities and Base Base Change In Net Total Realized Amortization/A Net Unrealized Ending Base Ending Accrued 882.16 5,341.69 816.52 631.76 663.17 256350018 MIM-RCTC 91 TIFIA Rese 256350018 MINI-RCTC 91 TIFIA Reserve 256350018 MIM-RCTC 91 TlFlA Reserve 3137A6B27 FHMS K010 A2 912828B58 UNITED STATES TREASURY 3137FL6P4 FBMS K089 A2 256350018 MIM-RCTC 91 TIFIA Reserve 3620ARB67 6N 737261 256350018 MN1-RCTC 91 TIFIAReserve 31381Q6B7 FN468066 256350018 MN1-RCTC 91 TIFIA Reserve 3137F6ZN8 FHMS KIO2 A 256350018 MIM-RCTC 91 TIFIA Reserve 3137AH6C7 FHMS K015 A2 256350018 MIM-RCTC 91 TIFIA Reserve 31397UPF0 FNA I IMI A3 256350018 MIM-RCTC 91 TIFIA Reserve 3137A2B26 FHMS K009 A2 256350018 MN1-RCTC 91 TIFIA Reserve 3620A9T35 GN 723370 256350018 MIM-RCTC 91 TNIA Reserve 3130AFFX0 FEDERAL HOME LOAN BANKS 256350018 MIM-RCTC 91 TIFIA Reserve 3138EJRP5 FN AL2293 256350018 MIM-RCTC 91 TlFlAReserve 3137EADB2 FREDDIE MAC 256350018 MN4-RCTC 91 TIFIAReserve 912828XB1 UNITED STATES TREASURY 256350018 MIM-RCTC 91 TIFIA Reserve 38378CNY9 GNR 127E MD 256350018 MIM-RCTC 91 TNIA Reserve 912828L57 UNITED STATES TREASURY 256350018 MIM-RCTC 91 TNIA Reserve 3137BM6P6 FHMS K721 A2 256350018 MN1-RCTC 91 TIFIA Reserve 36297GCD0 6N 711168 256350018 MIM-RCTC 91 TIFIAReserve 31419AM53 FN AE0379 256350018 MN1-RCTC 91 TIFIA Reserve 3137BP4K2 FHMS KB21 A2 256350018 MIM-RCTC 91 TNIA Reserve 3137F4D41 FHMS K074 A2 248,940.22 507,845.00 297,973.50 213,791.02 185,413.32 188,806.13 339,689.76 247,565.08 218,904.29 169,032.61 218,722.00 153,837.30 507,710.00 459,283.50 201,632.00 ,004,020.00 204,216.00 100,871.42 108,165.60 206,340.00 162,696.00 256350018 MN1-RCTC 91 TIFIA Reserve 3620AFYR2 6N 728920 99,912.02 (1,860.25) (15 629.10) (21.73) (511.63) (916.58) (19.30) (29 232.67) (2,134.31) (8,002.59) (50,443.50) (13 262.80) (1,074.62) (979.45) (801.18) (770.63) (766.74) (89.94) 19,039.45 23,012.93 2,394.6 912.06 245,893.69 525,905.00 320,185.25 199,274.27 184,622.76 32.03 (754.76) (2,177.94) 156,672.79 (25.94) (717.51) 4,761.86 341,573.86 (89.78) (701.01) 995.00 239,766.70 (160.39) (644.91) 467.89 168,123.37 531.04 (405.76) (564.80) 1,791.16 156,590.42 496.67 (564.39) 18,232.39 236,390.00 2,437.50 3,134.05) (63.89) (556.38) 2,159.79 152,242.78 551.08 (548.64) 10,373.64 517,535.00 2,572.92 (511.92) 30,162.42 488,934.00 3,625.34 57.78 (5 295.58) (13,942.95) (510.12) 897.50 740.06 1,800.12 202,922.00 583.33 (497.25) 33,707.25 1,037,230.00 47.81 (487.57) (196.38) (469.57) (419.91) (424.77) (379.73) (365.22) 2,525.57 206,254.00 515.00 1,969.93 96,879.83 347.06 1,279.10 94,657.07 415.95 15,319.73 221,280.00 474.83 0,533.72 172,864.50 450.00 (6,305.20) (190.07) (360.05) 1,114.73 94,171.43 298.67 256350018 MIM-RCTC 91 TIFIAReserve 31381R5T7 FN468958 103,495.71 - - - - - (348.49) 1,003.98 104,151.20 327.89 256350018 MIM-RCTC 91 TIFIA Reserve 3137FBAJ5 FHMS KIR3 A2 210,796.00 - - - - - (339.49) 15,281.49 225,738.00 546.83 256350018 MIM-RCTC 91 TIFIAReserve 3137B1U75 FHMS KS01 A2 366,131.40 - - - (3,070.11) (23.5(337.36) 8,566.55 371,266.93 756.49 256350018 MIM-RCTC 91 TIFIAReserve 3137B1BS0 FHMS K026 A2 400,470.75 - - - - - (332.46) 6,372.01 406,510.30 826.21 256350018 MIM-RCTC 91 TIFIAReserve 3137B1U65 FHMS K027 A2 203,388.00 - - - - - (318.13) 3,710.13 206,780.00 439.50 256350018 MIM-RCTC 91 TIFIAReserve 3138EJPZ5 _ ENAL2239 226,565.59 - - - (1,472.12) (29.30) (316.29) 4,375.52 229,123.40 573.22 256350018 MIM-RCTC 91 TIFIAReserve 3137B3HX9 FHR4231CFB 92,424.33 - - - (14,313.46) 62.53 (311.76) (32.62) 77,829.01 39.89 256350018 MIM-RCTC 91 TIFIAReserve 31397ALN1 _ FHR 3196C FA 172,874.52 - - - (31,669.40) 38.09 (308.09) 150.42 141,085.53 66.17 256350018 MIM-RCTC 91 TIFIA Reserve 3137F4CY6 FHMS KBXI Al 196,646.20 - - - - - (293.93) 8,895.23 205,247.50 462.33 256350018 MIM-RCTC 91 TNIA Reserve 3137B1BS0 FHMS K026 A2 253,462.50 - - - - - (284.30) 4,106.80 257,285.00 522.92 256350018 MIM-RCTC 91 TNIA Reserve 3137BJQ71 FHMS KPLB A 205,686.00 - - - - - (284.24) 9,104.24 214,506.00 461.67 256350018 MIM-RCTC 91 TNIAReserve 3620C4SU5 616748531 96,940.27 - - - (9,441.39) (324.70) (269.09) 976.24 87,881.32 278.61 256350018 MIM-RCTC 91 TNIA Reserve 3137BIAC2 FHMS K048 A2 94,916.70 - - - - - (268.97) 3,575.57 98,223.30 246.30 256350018 MIM-RCTC 91TIFIAReseeve 3137ATRW4 FHMS K020 A2 302,364.00 - - - - - (266.26) 4,016.26 306,114.00 593.25 256350018 MIM-RCTC 91 TIFIA Reserve 3137ABFH9 FHMS KAIV A2 82,635.39 - - - (262.34) 687.59 83,060.64 269.26 256350018 MIM-RCTC 91 TIFIA Reserve 3137ABFH9 FHMS Kelly A2 69,372.92 - - - (216.22) 573.22 69,729.92 226.04 256350018 MIM-RCTC 91 TIFIAReserve 3137AXHPI FHMS K024 A2 152,257.50 - - - (194.97) 2,275.47 154,338.00 321.63 256350018 MIM-RCTC 91 TIFIAReserve 36202F2H8 G2005276 212,773.12 - - (12,820.94) (316.43) (193.66) 3,116.24 202,558.33 485.90 256350018 MIM-RCTC 91 TIFIAReserve 3136AGFQ0 FNR 1392B A 169,197.13 - - (20,500.99) (228.46) (185.30) 1,824.76 150,107.15 427.30 256350018 MIM-RCTC 91 TIFIAReserve 3137AUPE3 FHMS K021 A2 201,676.00 - - - - - (180.43) 2,900.43 204,396.00 399.33 256350018 MIM-RCTC 91 TIFIAReserve 31381SV18 FN469617 86,005.01 - - - (573.55) (7.34) (175.19) 676.90 85,925.83 240.51 256350018 MIM-RCTC 91 TIFIA Reserve 3137BLAC2 FHMS K048 A2 63,277.80 - - - - - (168.06) 2,372.46 65,482.20 164.20 256350018 MIM-RCTC 91 TIFIAReserve 38376V2E6 GNR 1019B UA 121,106.58 - - (9,253.78) (353.44) (132.32) 1,912.62 113,279.66 354.39 256350018 MIM-RCTC 91 TIFIA Reserve 36202FA30 _ 62 004526 43,966.04 - - (2,935.40) (118.09) (128.38) 461.37 41,245.54 145.49 256350018 MIM-RCTC 91 TIFIAReserve 3137AJMF8 FHMS K016 A2 333,183.78 - (333,163.37) - (600.09) 900.37 (111.81) (208.88) - - 256350018 MIM-RCTC 91 TIFIAReserve 38374C417 GNR 0385G TW 47,030.61 0.00 0.00 0.00 (22,856.50) (109.78) (102.83) (44.81) 23,916.69 109.10 256350018 MIM-RCTC 91 TIFIAReserve 3138LPGP7 FNAN2905 303,750.00 - - - - - (98.07) 19,685.07 323,337.00 658.75 256350018 MIM-RCTC 91 TIFIAReserve 38377REV3 GNR 10158C HA 79,410.55 - - - (6,841.85) (123.26) (94.03) 1,603.07 73,954.47 207.49 256350018 MIM-RCTC 91 TIFIAReserve 38376WA62 GNR 1015CPD 97,116.65 - - - (4,837.62) (237.19) (81.72) 3,465.10 95,425.23 297.99 256350018 MIM-RCTC 91 TIFIAReserve 3137FNAD2 FHMS K095 Al 151,109.24 - - - (451.20) (8.32) (79.45) 7,940.14 158,510.41 323.92 256350018 MIM-RCTC 91 TIFIAReserve 38377RED3 GNR10158A EC 209,930.23 - - - (16,788.43) (132.66) (72.65) 4,403.24 197,339.73 399.43 256350018 MIM-RCTC 91 TIFIA Reserve 3138LFP51 FN AN3143 201,963.29 - - - (845.76) (30.93) (72.20) 13,984.70 214,999.11 439.52 256350018 MIM-RCTC 91 TIFIAReserve 3138NJAE8 FNFN0004 20,555.09 - - - (1,673.57) (15.06) (68.97) 88.76 18,886.26 59.07 256350018 MIM-RCTC 91 TIFIAReserve 3136A7MN9 FNA 12M8 A2 148,907.84 - - - (5,439.51) (36.74) (63.48) 1,760.57 145,128.67 279.06 256350018 MIM-RCTC 91 TIFIAReserve 36179M4J6 G2 MA0825 188,437.99 - - - (10,246.27) (122.92) (61.35) 3,934.84 181,942.29 365.24 256350018 MIM-RCTC 91TIFIAReserve 3137BDKF2 FHA4384A LA 49,712.08 - - - (3,850.92) (76.43) (61.20) 792.19 46,515.73 130.74 256350018 MIM-RCTC 91 TIFIAReserve 383766Y53 GNR 1195 C 68,323.82 - - - (2,103.26) (3.10) (39.79) 78.94 66,256.61 193.44 256350018 MIM-RCTC 91 TIFIA Reserve 3136(34TH6 FEDERAL NATIONAL MORTGAGE ASSOCIATION 300,012.00 - - (300,000.00) - - (36.49) 24.49 - - 256350018 MIM-RCTC 91 TIFIAReserve 3137FPJF3 FHMS K099 Al - 200,138.80 - - (536.18) (2.39) (36.01) 9,847.53 209,411.75 373.89 256350018 MIM-RCTC 91 TIFIAReserve 38378WUY7 GNR 13124F CP 163,494.51 - - - (16,635.69) (21.20) (30.50) 2,514.19 149,321.31 304.09 256350018 MIM-RCTC 91 TIFIA Reserve 38376PRM4 GNR 09118C YE 22,401.92 - - - (10,596.40) (19.45) (27.80) 4.99 11,763.27 39.05 256350018 MIM-RCTC 91 TIFIAReserve 38377QKH9 GNR 1118A P6 51,773.22 - - - (3,587.39) (64.08) (27.37) 1,561.48 49,655.85 118.21 256350018 MIM-RCTC 91 TIFIAReserve 383761TT9 GNR 106B AB - 52,929.19 - - (1,432.32) (33.23) (23.38) 1,181.74 52,622.00 125.71 256350018 MIM-RCTC 91 TIFIA Reserve 3137BDKF2 FHR 4384A LA 22,244.73 - - - (1,723.18) (27.78) (22.67) 343.35 20,814.46 58.50 256350018 MIM-RCTC 91 TIFIAReserve 3138L2QG5 FNAM2254 273,374.07 - - - (2,252.94) (132.96) (20.62) 15,718.50 286,686.05 674.22 256350018 MIM-RCTC 91 TIFIAReserve 3136AHAEO FNA 13M14 APT 73,174.39 - - - (9,952.65) (124.82) (19.50) 964.23 64,041.65 136.42 256350018 MIM-RCTC 91 TIFIAReserve 38379JM99 GNR1545E AG 54,090.20 - - - (4,086.12) (24.11) (18.72) 1,188.91 51,150.15 102.81 256350018 MIM-RCTC 91 TIFIAReserve 31417YKF3 FN MA0293 - 28,619.49 - - (716.59) (54.42) (17.18) 358.91 28,190.20 97.06 256350018 MIM-RCTC 91 TIFIAReserve 3136M:719 FNR 13101EA 28,289.24 - - - (2,529.07) (14.58) (15.88) 346.76 26,076.47 63.71 256350018 MIM-RCTC 91 TIFIAReserve 36178NB99 GN AB2764 50,884.56 - - - (3,319.02) (36.25) (13.05) 1,263.72 48,779.96 97.66 256350018 MIM-RCTC 91 TIFIAReserve 38378TAF7 GNR 1371A GA 111,786.94 - - - (7,122.40) (11.70) (11.68) 2,961.01 107,602.17 215.80 256350018 MIM-RCTC 91 TIFIAReserve 3137FQ3Y7 FHMS KIOI Al - 199,546.42 - - (545.98) (0.18) (10.21) 9,900.70 208,890.75 363.05 256350018 MN1-RCTC 91 TIFIAReserve 38377JZ89 GNR 10117AGK - 70,736.04 - - (3,721.51) (82.77) (10.14) 1,615.28 68,536.89 191.04 256350018 MIM-RCTC 91 TIFIAReserve 3137B5A60 FHA4257G EK - 19,360.53 - (510.30) (4.79) (2.98) 334.10 19,176.55 38.90 256350018 MN1-RCTC 91 TIFIAReserve 31846V401 FIRST AMER:GVLOBLGD 270,295.41 1,908,053.15 (1,854,194.34) - - - - - 324,154.22 - 256350018 MIM-RCTC 91 TIFIA Reserve CCYUSD Payable (201,051.38) - - - - - - - - - 256350018 MIM-RCTC 91 TIFIA Reserve 38378FRB8 GNR 135AJE 200,450.80 (201,028.71) - - - - - 577.91 - - 256350018 MIM-RCTC 91 TIFIA Reserve 62888VAA6 NON 10RI IA 19,630.79 234 (2,783.07) 0.67 1.63 (49.15) 16,800.88 25.69 Page 15 of 45 pliFRIVERSIDE COUNTY TRANSPORTATION COMMISSION 91 CIP STAMP Portfolio Transaction Report by Account Quarter ended March 31, 2020 Source Beginning Base Base Maturities and Base Base Change In Net Total Realized Amortization/A Net Unrealized Ending Base Ending Accrued 256350018 256350018 256350018 256350018 256350018 256350018 256350018 256350018 256350018 256350018 256350018 256350018 256350018 256350018 256350018 256350018 256350018 256350018 256350018 256350018 256350018 256350018 256350018 256350018 256350018 256350018 256350018 256350018 MIM-RCTC 91 T1FIA Reserve MIM-RCTC 91 TIFIA Reserve MIM-RCTC 91 T1FIA Reserve MIM-RCTC 91 T1FIA Reserve MIM-RCTC 91 T1FIA Reserve MIM-RCTC 91 T1FIA Reserve MIM-RCTC 91 T1FIA Reserve MIM-RCTC 91 T1FIA Reserve MIM-RCTC 91 T1FIA Reserve MIM-RCTC 91 T1FIA Reserve MIM-RCTC 91 T1FIA Reserve MIM-RCTC 91 T1FIA Reserve MIM-RCTC 91 T1FIA Reserve MIM-RCTC 91 T1FIA Reserve MIM-RCTC 91 T1FIA Reserve MIM-RCTC 91 T1FIA Reserve MIM-RCTC 91 T1FIA Reserve MIM-RCTC 91 T1FIA Reserve MIM-RCTC 91 T1FIA Reserve MIM-RCTC 91 T1FIA Reserve MIM-RCTC 91 T1FIA Reserve MIM-RCTC 91 T1FIA Reserve MIM-RCTC 91 T1FIA Reserve MIM-RCTC 91 T1FIA Reserve MIM-RCTC 91 T1FIA Reserve MIM-RCTC 91 T1FIA Reserve MIM-RCTC 91 TEW Reserve MIM-RCTC 91 TIFIA Reserve 912828Y53 912828Y53 38378BSZ3 912828Y53 38378JZD7 38378FRB8 3138EKX1A 3137BSRZ8 3132CJAJ2 3136ADFF1 3137AS7D0 3137B6DF5 38377YT1A 3136A5KR6 38378KWU9 38378KW47 9128285W6 9128285W6 912828YK0 38378KWU9 3137AWQG3 38378BXQ7 38378NWU3 3137EADR7 9128286N5 912828V49 3135G0D75 912828L99 UNITED STATES TREASURY UNITED STATES TREASURY GNR 1253A A UNITED STATES TREASURY GNR 1347A EC GNR 135A JE FN AL3382 FHMS K109 A2 FH SA0009 FNR 1336D KC FHR 4084A TC FHA 4272E YG GNR 11136D GA FNR 1231G AD GNR 1396 A GNR 13138 A UNITED STATES TREASURY UNITED STATES TREASURY UNITED STATES TREASURY GNR 1396 A FHMS K023 Al GNR 1289 A GNR 1417A AM FREDDIE MAC UNITED STATES TREASURY UNITED STATES TREASURY FEDERAL NATIONAL MORTGAGE ASSOCIATION UNITED STATES TREASURY 247,346.77 124 967.50 42,895.20 49,452.33 181,809.03 122,323.69 172,450.11 175,593.87 198,577.89 155,210.45 34,816.35 233,555.14 151,507.01 129,863.15 223,629.75 59,187.79 279,651.24 200,304.19 158,922.90 174,839.00 300,668.55 313,617.69 649,545.00 1,297,010.00 20,191,823.37 369,992.44 614,993.82 (124,976.39) 198,143.71 115,143.44 (249,541.02) 3,576,628.32 (2,561,875.12) (63,716.32) (3,531.57) (5,212.49) (4,890.48) (28,224.87) (5,885.21) (14,627.15) (20,412.06) (13,537.98) (14,616.12) (31,758.91) (332.56) (16,821.90) (565.35) (29,029.01) (118,617.88) (13,849.46) (300,000.00) (790,425.83) 289.29 58.14 42.42 76.06 (49.82) (525.45) (169.99) 179.73 135.96 129.67 171.72 185.79 13.13 67.13 21.00 262.44 652.93 _g31.43) 448.67 1.70 2.07 2.93 3.21 21.95 33.34 39.11 41.19 41.27 60.92 68.20 71.79 84.23 105.68 112.76 116.84 120.08 122.50 124.42 175.94 217.05 239.67 262.54 306.62 481.91 655.17 902.27 1.197.86 (1.54) (8.19) 803.54 (52.46) 264.31 7,508.23 1,165.08 3,421.71 2,040.04 1,373.29 1,747.05 2,360.84 5,747.38 660.35 194.84 8.22 3,719.23 3,168.33 7,590.83 348.29 2,392.17 61.36 742.08 13.63 (275.95) 2,604.14 1,379.23 8,433.99 (2,266.12) (15,303.81) 432,739.92 369,992.60 614,987.70 184,726.20 39,692.31 200,548.85 45,716.22 156,521.60 111,169.55 109,310.48 153,989.25 164,618.18 189,965.10 124,403.36 34,804.52 216,925.42 155,346.31 133,153.98 231,345.00 59,167.68 253,493.88 82,640.27 145,846.63 175,159.25 300,874.51 316,877.00 651,826.50 1,057,549.50 20,732,372.11 667.52 1,109.52 329.46 49.01 326.47 88.78 355.61 265.21 135.77 253.23 269.00 310.41 180.71 41.14 388.67 264.71 226.90 1,428.53 69.93 332.20 106.25 302.78 1,002.60 684.75 245.65 2,681.25 6,068.51 57,227.32 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 256350021 MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund MIM-RCTC 2013 Residual Fund 912828B58 UNITED STATES TREASURY 912828VV9 UNITED STATES TREASURY 61747WAF6 MORGAN STANLEY 61747WAF6 MORGAN STANLEY 3137AYCE9 FHMS K025 A2 06051GEC9 BANK OF AMERICA CORP 06051GEC9 BANK OF AMERICA CORP 12596EAC8 CNH 18B A3 3137ADTJ6 FHMS K014 A2 3137ABFH9 FHMS KAIV A2 38141EA58 GOLDMAN SACHS GROUP INC 912828L57 UNITED STATES TREASURY 26208RAD7 DRIVE 192 A3 38141EA58 GOLDMAN SACHS GROUP INC 31397UPF0 FNA 11M1 A3 17305EFM2 CCCIT 14A1 Al 31381QB54 FN 467260 3620ARB67 GN 737261 912828L57 UNITED STATES TREASURY 912828V V9 UNITED STATES TREASURY 9128286U9 UNITED STATES TREASURY 17305EFM2 CCCIT 14A1 Al 38013FAD3 GMCAR 184 A3 912828L57 UNITED STATES TREASURY 95000U2B8 WELLS FARGO & CO 912828L57 UNITED STATES TREASURY 38377REV3 GNR 10158C HA 4581XOCZ9 INTER-AMERICAN DEVELOPMENT BANK 3136AMM48 FNA 15M4B AV2 31397LUK3 FNR 0845C DB 9128286U9 UNITED STATES TREASURY 02582JHJ2 AMXCA 176 A 3137ATRW4 FHMS K020 A2 17305EGK5 CCCIT 18A1 Al 36202F2H8 G2005276 31394GUX9 FHA 2666B OD 3137A1N90 FHMS K008 A2 31381SVJ8 _ FN 469617 31418CQM9 FN MA3159 87165LBB6 SYNCT 162 A 912828/43 UNITED STATES TREASURY 36179M416 G2 MA0825 31381RLL6 FN 468431 31381RZ23 FN 468861 314016DU8 FNBM1914 3136A1HC2 FNR 1198A VC 3132G5AV1 FH U79019 36178NB99 GN AB2764 62888UAB6 NGN 10R2 2A 1,186,171.40 952,897.50 103,857.00 103,857.00 366,048.00 101,835.00 101,835.00 192,931.70 210,159.14 100,678.00 527,110.50 150,894.00 100,678.00 123,782.54 111,125.30 100,405.42 70,016.55 421,688.40 90,920.70 76,278.75 276,105.50 833,336.60 158,821.11 651,521.00 349,077.49 118,302.88 121,480.80 200,306.00 100,788.00 100,689.00 93,620.17 30,021.97 63,254.68 86,005.00 57,555.55 160,654.40 125,468.75 157,031.66 53,249.47 61,395.92 203,673.15 74,913.09 127,211.41 148,345.78 490,583.07 (100 234.00) (100,234.00) (4,001.29) 60.52 101.88 (34.83) 250,810.55 304,546.88 239,479.10 (594.46) (5,118.53) (4.96) (167.56) (13,683.68) (246.55) (8,399.84) (40.00) (17,490.03) (182.56) 0.00 0.00 0.00 0.00 0.00 - - - (5,641.21) (139.23) (3,079.87) (114.62) - - - (27,660.79) 14.69 (573.55) (1.40) - - - (3,825.89) (95.08) 22,212.03 (8,538.57) (102.42) (284.46) (2.17) (353.89) (2.83) (11,783.51) (76.45) (2,655.67) (16.22) (3,941.42) (71.78) (8297.54) (90.63) (10 870.85) (7.67) (1,335.60) (1,173.55) (711.18) (685.51) (668.93) (581.54) (580.31) (514.86) (462.11) (435.35) (384.68) (379.98) (324.63) (292.97) (274.28) (271.43) (259.28) (252.38) (242.66) (242.26) (235.23) (223.66) (206.86) (201.77) (200.26) (198.33) (188.06) (170.58) (160.12) (147.58) (132.45) (126.08) (119.54) (104.32) (85.21) (64.93) (60.16) (58.72) (58.56) (53.99) (51.80) (51.13) (49.56) (44.07) (42.11) (41.57) (37.46) (32.62) (31.79) 15,542.80 6,180.05 (503.82) (529.49) 6,331.73 (626.46) (627.70) (3,184.44) 1,102.10 1,516.85 (119.84) 17,815.23 (164.37) (252.91) 411.22 102.03 (109.08) 784.24 14,190.86 1,511.71 7,724.35 85.06 (98.39) 9,334.52 (3,517.44) 27,762.63 3,206.13 18,104.08 3,578.44 776.63 3,466.05 80.08 1,369.54 145.32 1,371.15 226.82 (70.28) 554.48 1,091.47 (1,032.41) 3,235.55 3,279.04 69.85 179.65 4,635.87 92.21 1,485.95 3,159.30 32.32 1,200,378.60 957,904.00 102,642.00 102,642.00 371,710.80 100,627.00 100,627.00 189,232.40 491,223.05 211,240.64 544,545.75 150,405.00 119,883.35 110,955.90 99,437.65 65,262.32 435,636.60 252,080.00 312,036.00 90,782.10 75,973.50 285,238.25 235,761.40 860,900.90 147,908.95 669,454.50 344,055.97 101,259.34 124,814.40 200,260.00 102,038.00 100,730.00 89,125.66 26,989.37 35,478.15 85,925.82 54,667.48 159,568.00 128,652.50 151,618.58 52,983.13 61,174.78 196,406.95 19,590.79 72,348.38 121,949.92 137,467.79 4,202.13 1,755.43 1,054.17 1,054.17 804.60 1,406.25 1,406.25 269.38 1,550.80 684.78 25.10 202.67 370.03 616.00 372.49 206.90 20.08 461.96 2,416.90 504.00 100.31 13.15 1,182.34 39.69 414.99 537.15 708.08 368.45 966.76 181.33 197.75 491.08 213.79 117.13 104.37 240.51 130.52 157.16 190.22 304.36 171.65 197.79 394.16 56.57 172.81 244.15 212.07 156350021 MIM-RCTC 2013 Residual Fund 69371RP34 PACCAR FINANCIAL CORP 200,248.00 235 (30.78) (8,367.22) 191,850.00 565.00 Page 16 of 45 pir RIVERSIDE COUNTY TRANSPORTATION COMMISSION 91 CIP STAMP Portfolio Transaction Report by Account Quarter ended March 31, 2020 Source • Beginning Base Base Maturities and Base Base Change In Net Total Realized Amortization/A Net Unrealized Ending Base Ending Accrued 256350021 MIM-RCTC 2013 Residual Fund 8378PPK8 GNR 13190H GA 103 342.66 (5,385.17) (37.45) (30.26) 2,624.72 100,514.50 202.57 256350021 MIM-RCTC 2013 Residual Fund 3137APP61 FHMS K018 A2 15,112.51 - - - (105.21) (1.38) (30.21) 278.64 15,254.34 34.50 256350021 MIM-RCTC 2013 Residual Fund 3137AH6C7 FHMS K015 A2 - 38,845.53 - - - - (25.03) 216.51 39,037.01 102.57 256350021 MIM-RCTC 2013 Residual Fund 38378AWX5 GNR 11157E QA 16,445.92 - - - (3,406.55) (11.71) (16.07) 73.91 13,085.50 32.36 256350021 MIM-RCTC 2013 Residual Fund 38378CDK0 GNR111690 AK 15,345.20 - - - (6,415.14) (8.93) (14.30) 19.71 8,926.54 22.25 256350021 MIM-RCTC 2013 Residual Fund 459058GK3 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 220,039.60 - - - - - (10.61) 37.01 220,066.00 269.93 256350021 MIM-RCTC 2013 Residual Fund 3137A5FP4 FHR 3791E DA 24,772.75 - - - (3,166.03) (1.66) (7.27) 139.00 21,736.80 44.82 256350021 MIM-RCTC 2013 Residual Fund 459058GK3 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 65,011.70 - - - - - (5.46) 13.26 65,019.50 79.75 256350021 MIM-RCTC 2013 Residual Fund 14041NFU0 COMET 192 A - 100,312.50 - - - - (4.94) 656.44 100,964.00 76.44 256350021 MIM-RCTC 2013 Residual Fund 3136A72D3 FNA 12M9 A2 26,415.82 - - - (1,881.38) (11.13) (3.73) 263.82 24,783.40 50.43 256350021 MIM-RCTC 2013 Residual Fund 912828Y53 UNITED STATES TREASURY 269,929.80 - (249,954.20) - - (75.57) (2.23) 101.80 19,999.60 36.08 256350021 MIM-RCTC 2013 Residual Fund 3136A72D3 FNA 12M9 A2 5,870.18 - - - (418.09) (2.46) (0.81) 58.59 5,507.42 11.21 256350021 MIM-RCTC 2013 Residual Fund 459058GK3 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 15,002.70 - - - - - (0.75) 2.55 15,004.50 18.40 256350021 MIM-RCTC 2013 Residual Fund 31846V401 FIRSTAMER:GVT OBLOD 30,366.91 6,679,875.88 (6,528,055.57) - - - - - 182,187.22 - 256350021 MIM-RCTC 2013 Residual Fund CCYUSD Cash (0.00) - - - - - - - - - 256350021 MIM-RCTC 2013 Residual Fund 658886DZ6 NORTH DAKOTA ST HSG FIN AGY MTG REV 100,000.00 - - - - - - - 100,000.00 492.69 256350021 MIM-RCTC 2013 Residual Fund 56052FHZ1 MAINE ST HSG AUTH MTG PUR 100,000.00 - (100,000.00) - - - - - - - 256350021 MIM-RCTC 2013 Residual Fund 86787EBD8 SUNTRUST BANK 50,239.00 - - - - - - (1,481.00) 48,758.00 136.27 256350021 MIM-RCTC 2013 Residual Fund 14913Q2X6 CATERPILLAR FINANCIAL SERVICES CORP 120,354.00 - - - - - - (2,782.80) 117,571.20 298.38 256350021 MIM-RCTC 2013 Residual Fund 025816CE7 AMERICAN EXPRESS CO 100,642.00 - - - - - - (4,733.00) 95,909.00 263.65 256350021 MIM-RCTC 2013 Residual Fund 459058GK3 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 15,002.70 - - - - - - 1.80 15,004.50 18.40 256350021 MIM-RCTC 2013 Residual Fund 072024WW8 BAY AREA TOLL AUTH CALIF TOLL BRDG REV 95,208.05 - - - - - - 304.00 95,512.05 1,038.88 256350021 MIM-RCTC 2013 Residual Fund 62888VAA6 NGN 10R1 IA 0.01 - - - - (0.00) - 0.00 0.01 - 256350021 MIM-RCTC 2013 Residual Fund 783186TZ2 RUTGERS ST UNIV N J 104,992.65 - - - - - - (1,029.00) 103,963.65 941.93 256350021 MIM-RCTC 2013 Residual Fund 17308CC46 CITIGROUP INC 195,606.45 - - - - - - (1,349.40) 194,257.05 1,840.93 256350021 MIM-RCTC 2013 Residual Fund 31416BVR6 FN 995324 0.01 - - - - (0.00) - (0.00) 0.00 - 256350021 MIM-RCTC 2013 Residual Fund 69353RFU7 PNC BANK NA - 250,000.00 - - - - - (14,375.00) 235,625.00 501.06 256350021 MIM-RCTC 2013 Residual Fund 196480CW5 COLORADO HSG & FIN AUTH - 460,000.00 - - - - - - 460,000.00 4,545.33 256350021 MIM-RCTC 2013 Residual Fund 3137A1LC5 FHR 3710F AB 1,527.78 - - - (1,225.28) 1.55 0.18 0.17 304.39 0.51 256350021 MIM-RCTC 2013 Residual Fund 3137B2GW4 FHMS K713 A2 40,828.14 - - - (40,880.06) 84.58 0.24 (32.90) - - 256350021 MIM-RCTC 2013 Residual Fund 47789JAB2 JDOT 2019 A2 89,230.48 - - - (28,486.52) 0.55 0.33 (129.73) 60,615.11 76.58 256350021 MIM-RCTC2013 Residual Fund 31680YAB3 FITAT 191 A2A 131,438.92 - - - (36,382.60) 0.90 0.72 (159.75) 94,898.18 111.89 256350021 MIM-RCTC 2013 Residual Fund 14315XAC2 CARMX 201 A3 - 59,988.23 - - - - 0.73 195.84 60,184.80 50.40 256350021 MIM-RCTC2013 Residual Fund 14315PAB1 CARMX 193 A2A 120,268.80 - - - (7,639.37) 0.19 0.80 56.06 112,686.48 110.36 256350021 MIM-RCTC 2013 Residual Fund 31358TPC7 FNR G935 F 89,668.77 - (86,364.63) - (2,995.30) (37.21) 0.88 (272.52) - - 256350021 MIM-RCTC 2013 Residual Fund 477870AB5 JDOT 19B A2 90,194.40 - - - (548.64) 0.01 0.93 (70.11) 89,576.59 90.64 256350021 MIM-RCTC 2013 Residual Fund 65478LAB5 NALT 19B A2A 80,146.40 - - - (6,129.79) 0.25 1.04 (182.41) 73,835.49 74.53 256350021 MIM-RCTC 2013 Residual Fund 9128285H9 UNITED STATES TREASURY 299,856.00 - - - - - 1.10 97.90 299,955.00 542.25 256350021 MIM-RCTC 2013 Residual Fund 26209AAE1 DRIVE 194 B 80,030.40 - - - - - 1.26 (1,403.66) 78,628.00 79.29 256350021 MIM-RCTC 2013 Residual Fund _ 3138L81i23 _ FN AM7448 67,814.67 - - - (394.23) 1.14 4.57 7.01 67,433.16 158.73 256350021 MIM-RCTC 2013 Residual Fund 05531FBJ1 BB&T CORP 166,095.60 - - - - - 8.44 (1,003.39) 165,100.65 151.25 256350021 MIM-RCTC2013 Residual Fund 3137B1UF7 FHMS K027 Al 13,041.34 - - - (1,241.27) 11.05 9.02 94.36 11,914.49 17.57 256350021 MIM-RCTC 2013 Residual Fund 02581RBU6 American Express Credit Corporation - 249,989.03 - (250,000.00) - - 10.97 - - - 256350021 MIM-RCTC 2013 Residual Fund 04830GC59 Atlantic City Electric Company 0.00 299,987.92 0.00 (300,000.00) 0.00 0.00 12.08 0.00 0.00 0.00 256350021 MIM-RCTC 2013 Residual Fund 97665RBU5 Wisconsin Electric Power Company - 299,986.25 - (300,000.00) - - 13.75 - - - 256350021 MIM-RCTC 2013 Residual Fund 172967LC3 CITIGROUP INC 254,107.50 - - - - - 14.60 (2,199.60) 251,922.50 2,275.69 256350021 MIM-RCTC 2013 Residual Fund 3137AXHN6 FHMS K024 Al 21,932.92 - - - (2,463.44) 19.46 15.17 158.07 19,662.17 28.43 256350021 MIM-RCTC 2013 Residual Fund 40248CDL2 Gulf Power Company - 199,650.00 - - - - 17.50 204.50 199,872.00 - 256350021 MIM-RCTC 2013 Residual Fund 3137AWQ03 FHMS K023 Al 17,478.20 - - - (1,814.32) 21.55 18.34 139.59 15,843.37 20.76 256350021 MIM-RCTC 2013 Residual Fund 3128MMPY3 FH G18438 201,306.64 - - - (12,317.19) 51.59 19.65 4,286.14 193,346.83 387.97 256350021 MIM-RCTC 2013 Residual Fund 172967LC3 CITIGROUP INC 203,286.00 - - - - - 20.22 (1,768.22) 201,538.00 1,820.56 256350021 MIM-RCTC 2013 Residual Fund 65478DAD9 NAROT 18A A3 83,852.61 - - - (17,963.54) 29.05 21.08 (187.48) 65,751.72 77.18 256350021 MIM-RCTC 2013 Residual Fund 3128MMPP2 FH G18429 218,178.92 - - - (12,521.74) 53.34 24.90 4,678.93 210,414.34 422.23 256350021 MIM-RCTC2013 Residual Fund 05584PAD9 BMWLT 172 A3 47,047.34 - - - (47,047.33) 16.72 25.42 (42.15) - - 256350021 MIM-RCTC 2013 Residual Fund 3137A2PV7 FHR 3760D BA 27,986.75 - - - (2,237.82) 33.02 26.62 421.95 26,230.53 32.47 256350021 MIM-RCTC 2013 Residual Fund 3137AWQG3 FHMS K023 Al 26,217.30 - - - (2,721.47) 32.68 27.77 208.77 23,765.05 31.14 256350021 MIM-RCTC 2013 Residual Fund 3138L1W62 FN AM1568 124,949.72 - - - (615.42) 3.13 28.25 (2.19) 124,363.49 268.44 256350021 MIM-RCTC 2013 Residual Fund 74456QBP0 PUBLIC SERVICE ELECTRIC AND GAS CO - 122,811.25 - - - - 30.44 920.81 123,762.50 105.56 256350021 MIM-RCTC 2013 Residual Fund 3138L2GH4 FN AM1999 34,282.98 - - - (233.59) 0.98 33.57 348.45 34,432.38 54.91 256350021 MIM-RCTC 2013 Residual Fund 31677QBK4 FIFTH THIRD BANK (OHIO) 200,342.00 - - - - - 34.52 (1,018.52) 199,358.00 1,845.56 256350021 MIM-RCTC 2013 Residual Fund 3138EKXL4 FN AL3382 52,749.15 - - - (5,216.50) (53.15) 41.72 1,242.75 48,763.97 94.70 256350021 MIM-RCTC 2013 Residual Fund 38378KW47 GNR 13138 A 90,262.86 - - - (6,501.21) 25.94 45.16 3.18 83,835.91 150.21 256350021 MIM-RCTC 2013 Residual Fund 9128285H9 UNITED STATES TREASURY 399,808.00 - - - - - 45.68 86.32 399,940.00 723.00 256350021 MIM-RCTC 2013 Residual Fund 375558BB8 GILEAD SCIENCES INC 35,149.10 - - - - - 49.01 (93.81) 35,104.30 74.38 256350021 MIM-RCTC 2013 Residual Fund 65478HAD0 NAROT 17C A3 59,658.56 - - - (13,809.43) 75.30 49.53 (165.01) 45,808.95 43.14 256350021 MIM-RCTC 2013 Residual Fund 06051GFN4 BANK OF AMERICA CORP 100,094.00 - - - - - 52.58 (162.58) 99,984.00 1,000.00 256350021 MIM-RCTC 2013 Residual Fund 92780JC33 Virginia Electric and Power Company - 299,946.67 - (300,000.00) - - 53.33 - - - 256350021 MIM-RCTC 2013 Residual Fund 912828Y53 UNITED STATES TREASURY 754,803.70 - - - - - 54.93 126.27 754,984.90 1,362.10 256350021 MIM-RCTC 2013 Residual Fund 084659AB7 BERKSHIRE HATHAWAY ENERGY CO 250,080.00 - - (250,000.00) - - 57.14 (137.14) - - 256350021 MIM-RCTC 2013 Residual Fund 90331HNP4 US BANK NA 253,990.00 - - - - - 59.28 (1,941.78) 252,107.50 3,390.63 256350021 MIM-RCTC 2013 Residual Fund 05531FAU7 BB&T CORP 250,672.50 - - - - - 73.66 (1,208.66) 249,537.50 1,677.08 256350021 MIM-RCTC 2013 Residual Fund 94974BGM6 WELLS FARGO & CO 200,764.00 - - - - - 80.61 (806.61) 200,038.00 996.67 256350021 MIM-RCTC 2013 Residual Fund 69353RFH6 PNC BANK NA 251,490.00 - (251,750.00) - - 2,271.47 83.64 (2,095.11) - - 256350021 MIM-RCTC 2013 Residual Fund 912828VV9 UNITED STATES TREASURY 50,152.50 - - - - - 86.39 177.11 50,416.00 92.39 256350021 MIM-RCTC 2013 Residual Fund 63743CC68 National Rural Utilities Cooperative Finance Cogw - 299,909.00 - (300,000.00) - - 91.00 - - - 256350021 MIM-RCTC 2013 Residual Fund 02587AAJ3 AMXCA 171 A 120,993.95 - - - (121,000.00) 6.42 96.06 (96.43) - - 256350021 MIM-RCTC 2013 Residual Fund 3136A5KR6 FNR 1231G AD 79,157.33 - - - (16,197.04) 150.97 97.73 236.72 63,445.71 92.16 256350021 MIM-RCTC2013 Residual Fund 912828UH1 UNITED STATES TREASURY 33,441.56 - - - - - 101.12 (422.24) 33,120.43 8.86 256350021 MIM-RCTC 2013 Residual Fund 31370A07Y1 FHR3737J MA 145,481.06 - - - (11,823.87) 110.64 105.79 1,131.14 135,004.75 167.48 256350021 MIM-RCTC 2013 Residual Fund 780082AC7 ROYAL BANK OF CANADA 100,116.00 - - - - 105.91 (442.91) 99,779.00 974.17 Lit) Page 17 of 45 pir RIVERSIDE COUNTY TRANSPORTATION COMMISSION 91 CIP STAMP Portfolio Transaction Report by Account Quarter ended March 31, 2020 Source Beginning Base Base Maturities and Base Base Change In Net Total Realized Amortization/A Net Unrealized Ending Base Ending Accrued 256350021 256350021 256350021 MN4-RCTC 20 MIM-RCTC 20 MIM-RCTC 20 3 Residual Fund 3 Residual Fund 3 Residual Fund 256350021 MIM-RCTC 2013 Residual Fund 912828YK0 02587AAJ3 14918ED16 UNITED STATES TREASURY AMXCA 171 A CommonSpirit Health 912828Y53 UNITED STATES TREASURY 178,903.80 99,995.00 (100,000.00) 107.68 6,064.52 7.55 113.10 (115.65) 185,076.00 1,142.83 549,880.83 119.17 550.000.00 999,740.00 138.91 101.09 999,980.00 1,804.10 256350021 MIM-RCTC 2013 Residual Fund 256350021 MIM-RCTC 2013 Residual Fund 256350021 MIM-RCTC 2013 Residual Fund 256350021 MIM-RCTC 2013 Residual Fund 256350021 MIM-RCTC 2013 Residual Fund 256350021 MIM-RCTC 2013 Residual Fund 375558BB8 GIIEAD SCIENCES INC 38378BXQ7 GNR 1289 A 06416CAC2 BANK OF NOVA SCOTIA 43814TAD4 HAROT 171 A4 40248CC41 Gulf Power Company 912828L57 UNITED STATES TREASURY 100,426.00 148,373.48 100,047.00 200,092.00 100,402.00 349,783.88 (200,382.81) (350,000.00) (87,865.10) 483.65 2,033.04 152.42 177.53 192.94 203.95 216.12 220.07 (280.42) 45.45 (187.94) (1,946.18) 3,100.93 100,298.00 61,215.01 100,052.00 103,723.00 212.50 78.70 807.29 4.78 256350021 MIM-RCTC 2013 Residual Fund 256350021 MIM-RCTC 2013 Residual Fund 50000DCQ7 Koch Industries, Inc. 50000DDD5 KOCH INDUSTRIES INC 499,776.39 649,317.50 (500,000.00) 223.61 227.50 195.00 649,740.00 256350021 MIM-RCTC 2013 Residual Fund 256350021 MIM-RCTC 2013 Residual Fund 256350021 MIM-RCTC 2013 Residual Fund 256350021 MIM-RCTC 2013 Residual Fund 256350021 MIM-RCTC 2013 Residual Fund 256350021 MIM-RCTC 2013 Residual Fund 912828UH1 UNITED STATES TREASURY 9128286N5 UNITED STATES TREASURY 780082AC7 ROYAL BANK OF CANADA 3138L2GH4 FN AM1999 02581RDD2 American Express Credit Corporation 912828B58 UNITED STATES TREASURY 66,883.11 212,541.56 100,116.00 89,992.82 266,385.95 349,534.79 (613.19) 9.14 237.93 278.85 279.92 289.81 296.04 305.54 (880.18) (133.26) (616.92) 706.41 29.17 2,885.06 66,240.86 212,687.15 99,779.00 90,385.00 349,860.00 269,576.55 17.73 484.05 974.17 144.15 943.70 256350021 MIM-RCTC 2013 Residual Fund 256350021 MIM-RCTC 2013 Residual Fund 256350021 MIM-RCTC 2013 Residual Fund 256350021 MIM-RCTC 2013 Residual Fund 256350021 MIM-RCTC 2013 Residual Fund 256350021 MIM-RCTC 2013 Residual Fund 23336GD65 DTE Electric Company 9128286N5 UNITED STATES TREASURY 06416CAC2 BANK OF NOVA SCOTIA 17401 QAN I Citizens Bk PA 69353RFC7 PNC BANK NA 912828767 UNITED STATES TREASURY 212,541.56 100,047.00 250,802.50 250,037.50 477,110.40 599,422.50 (250,100.00) 807.92 315.00 324.58 331.56 331.74 449.74 483.59 160.50 (178.98) (326.56) (544.24) (1,195.15) 10,431.61 599,898.00 212,687.15 100,052.00 250,590.00 488,025.60 484.05 807.29 2,359.38 2,521.98 256350021 MIM-RCTC 2013 Residual Fund 912828VV9 UNITED STATES TREASURY 461,403.00 487.73 1,936.47 463,827.20 850.00 256350021 MIM-RCTC 2013 Residual Fund 912828B58 UNITED STATES TREASURY 286,490.55 553.75 2,877.65 289,921.95 1,014.92 256350021 MIM-RCTC 2013 Residual Fund 912828YK0 UNITED STATES TREASURY 844,823.50 569.81 28,576.69 873,970.00 5,396.69 256350021 MIM-RCTC 2013 Residual Fund 256350021 MIM-RCTC 2013 Residual Fund 256350021 MIM-RCTC 2013 Residual Fund 06406FAB9 BANK OF NEW YORK MELLON CORP 55279HAN0 MANUFACTURERS AND TRADERS TRUST CO 912828VV9 UNITED STATES TREASURY 200,636.00 250,090.00 551,677.50 617.05 724.36 1,020.64 23,842,138,28 13,769,992.44 (7,867,075.21) (2,550,000.00) (746,457.88) 4,883.22 (1,588,44) (325.05) (1,444.36) 1,877.86 169,963.67 200,928.00 249,370.00 554,576.00 26,621,856.09 1,685.56 626.39 1,016.30 82,174.66 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 31381Q6B7 FN468066 31417YKF3 FN MA0293 912828B58 UNITED STATES TREASURY 912828XB1 UNITED STATES TREASURY 3137B1U75 FHMS KS01 A2 912828G38 UNITED STATES TREASURY 31381PEB0 FN466430 3130AFFX0 FEDERAL HOME LOAN BANKS 3620ARB67 GN 737261 3137EADB2 FREDDIE MAC 3137ABFH9 FHMS KAIV A2 3137FBAJ5 FHMS KIR3 A2 31381QB54 FN467260 31417YKF3 FN MA0293 3137B1BS0 FHMS K026 A2 3137EADB2 FREDDIE MAC 912828B58 UNITED STATES TREASURY 31381R5T7 F54468958 912828B58 UNITED STATES TREASURY 36202F2H8 G2005276 3138EJPZ5 FN AL2239 912828B58 UNITED STATES TREASURY 38378CNY9 GNR 127E MD 3137AXHP1 FHMS K024 A2 36202FA30 G2004526 38376WA62 GNR 1015CPD 912828B58 UNITED STATES TREASURY 38375XCM4 GNR 0847B PC 3137AUPE3 FHMS K021 A2 3138LFGP7 FN AN2905 38377REV3 GNR 10158C HA 3137BDKF2 FHR 4384A 1.A 38378XP62 GNR 14166 PL 31381SVJ8 FN469617 3137FNAD2 FHMS K095 Al 38377JZ89 GNR 10117A GK 38376WA62 GNR 1015C PD 3136A7MN9 FNA 12M8 A2 912828J43 UNITED STATES TREASURY 185,413.32 61,367.34 733,817.90 995,114.25 371,013.15 1,385,383.50 246,896.65 202,317.85 106,895.51 203,084.00 102,019.00 210,796.00 130,963.58 64,508.43 364,986.00 203,084.00 236,229.05 133,212.30 100,523.00 110,642.03 201,391.63 145,758.35 142,107.00 40,448.76 29,135.00 115,601.45 59,256.81 145,206.72 278,437.50 74,116.52 62,140.11 246,373.36 107,506.26 135,998.31 39,229.42 117,025.57 270,741.55 150,562.50 110,721.88 (916.58) (3,937.33) (3,111.04) (281.82) (7,814.55) (775.39) (4,138.86) (6,666.88) (1,308.56) (27.49) (1,034.90) (179.79) (778.97) (684.69) (636.64) (47.7_ (622.77) (5.67) (255.82) (6.46) (159.39) (195.64) (38.91) (2,700.56) (108.65) (451.2) (5,879.17) (102.51) (140.12) (6,385.72) (115.05) (4,813.67) (5,031.37) (716.93) (406.08) (3,197.75) (5,829.32) (9,890.03) (106.81) (50.01) (1.76) (7.49) (59.46) (616.02) (561.80) (522.06) (385.32) (354.54) (346.02) (339.49) (338.19) (304.95) (303.00) (271.65) (266.58) (254.00) (249.06) (196.07) (190.42) (180.06) (137.95) (118.93) (118.11) (112.98) (110.28) (104.53) (102.05) 1,188.41 1,935.80 9,473.89 64,879.39 8,985.59 81,143.52 (63.69) 16,864.96 1,197.31 4,284.54 871.02 15,281.49 (142.28) 1,491.38 5,807.40 4,201.65 3,095.98 1,097.70 1,453.06 1,746.90 3,811.50 1,925.86 1,023.17 2,060.73 424.46 1,159.35 1,494.88 851.86 2,060.45 (89.90) 18,044.65 (87.76) (83.41) (77.63) (73.40) (71.50) 1,496.19 1,008.45 4,290.14 693.11 7,146.13 (70.05) 650.85 (103.24) (64.48) (95.62) (61.80) 3,958.87 3,176.23 3,879.10 184,622.76 58,407.05 742,607.10 1,059,357.00 376,217.15 1,465,911.00 244,983.67 218,660.75 99,637.13 207,014.00 102,544.00 225,738.00 129,701.27 61,396.61 370,490.40 207,014.00 239,058.45 134,056.00 101,727.00 105,330.34 203,665.25 147,504.15 111,607.10 144,048.80 37,945.90 28,627.57 116,986.05 53,984.84 147,165.12 296,392.25 69,024.18 58,144.67 245,504.50 107,407.27 142,659.37 36,553.01 114,987.40 263,870.33 154,383.00 663.17 201.10 2,599.62 7,854.91 766.57 11,515.80 710.15 2,254.69 315.88 1,029.17 332.42 546.83 485.86 211.39 753.00 1,029.17 836.86 422.03 356.11 252.67 509.53 516.36 320.83 300.18 133.85 89.40 409.53 215.07 287.52 603.85 193.66 163.43 502.23 300.64 291.53 101.89 359.07 507.37 228.26 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund -I 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 3837675Z1 GNR 104A PD 912828B58 UNITED STATES TREASURY 38377RVK8 GNR 10166F GP 38377RVK8 GNR 10166F GP 38378DDC6 GNR 1216E GB 63,29446 20,741.18 27,731.95 50,261.50 45,551.19 27,330.71 47,311.69 (4,172.12) (16,341.92) (3,037.76) (1,822.66) (114.96) (54.37) (52.53) (40.51) (55.55) (44.45) (44.07) (42.90) 1,754.92 (10.40) (14.51) 646.45 1,000.22 634.39 60,706.96 10,547.60 11,277.17 50,863.50 43,431.73 26,059.04 144.46 48.12 42.18 178.06 104.78 62.87 (21,473.11) (20.27) (42.59) 44.79 25,820.50 75.07 256350023 MIM-Sr Lien Reserve Fund-1 256350023 MIM-Sr Lien Reserve Fund-1 3136AHAEO FNA 13M14 APT 3137F4D41 FHMS K074 A2 61,178.59 32,539.20 237 (117.24) (40.75) (40.46) 843.51 2,074.16 53,543.02 114.06 34,572.90 90.00 Page 18 of 45 pir RIVERSIDE COUNTY TRANSPORTATION COMMISSION 91 CIP STAMP Portfolio Transaction Report by Account Quarter ended March 31, 2020 Source Beginning Base Base Maturities and Base Base Change In Net Total Realized Amortization/A Net Unrealized Ending Base Ending Accrued 256350023 256350023 256350023 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 38376WA62 GNR 1015CPD 3137B4HD1 FHR4247A AK 38376GY53 GNR 1195 C 256350023 MIM-Sr Lien Reserve Fund-1 3137FPJF3 FHMS K099 Al 28,487.55 37,376.81 61,658.08 (1,419.03) (2,984.90) (1 898.06) (49.64) (93.34) (2.80) (38.00) (36.02) (35.91) 1,010.52 585.27 71.23 27,991.40 34,847.81 59,792.55 87.41 123.07 174.57 185,128.40 - - (495.96) (2.21) (33.31) 9,108.95 193,705.87 345.85 256350023 MIM-Sr Lien Reserve Fund-1 38378AWX5 GNR 11157E QA 256350023 MIM-Sr Lien Reserve Fund-1 3138NJAE8 FN FN0004 49,337.75 12,333.05 (10,219.64) (17.14) (31.10) 186.63 39,256.50 97.08 (1,004.14) (5.23) (30.05) 38.13 11,331.75 35.44 256350023 MIM-Sr Lien Reserve Fund-1 3138N1AE8 FN FN0004 256350023 MIM-Sr Lien Reserve Fund-1 38377RSZ9 GNR 10162D PQ 8,222.03 13,802.04 (669.43) (6.02) (27.59) 35.51 7,554.50 23.63 (5,505.21) (20.01) (26.68) 8.79 8,258.94 30.83 256350023 MIM-Sr Lien Reserve Fund-1 38377QKH9 GNR 1118A PG 256350023 MIM-Sr Lien Reserve Fund-1 38376TTT9 GNR 106B AB 47,984.94 (3,324.90) (59.39) (25.37) 1,447.23 46,022.50 109.56 48,694.86 - - (1,317.73) (30.58) (21.51) 1,087.19 48,412.23 115.65 256350023 MIM-Sr Lien Reserve Fund-1 383791M99 GNR 1545E AG 256350023 MIM-Sr Lien Reserve Fund-1 36179M416 G2 MA0825 50,226.61 47,109.50 (3,794.25) (22.40) (17.38) 1,103.98 47,496.57 95.47 (2,561.57) (30.73) (15.34) 983.71 45,485.57 91.31 256350023 MIM-Sr Lien Reserve Fund-1 3137A5FP4 FHR 3791E DA 256350023 MIM-Sr Lien Reserve Fund-1 38377RSZ9 GNR 10162D PQ 41,439.64 3,501.01 (5,296.10) (2.79) (12.15) 232.52 36,361.12 74.97 (1,396.44) (9.18) (10.35) 9.92 2,094.95 7.82 256350023 MIM-Sr Lien Reserve Fund-1 36178NB99 GN AB2764 256350023 MIM-Sr Lien Reserve Fund-1 3137AJMF8 FHMS K016 A2 256350023 MIM-Sr Lien Reserve Fund-1 3137FQ3Y7 FHMS K101 Al 256350023 MIM-Sr Lien Reserve Fund-1 3137AJMF8 FHMS K016 A2 256350023 MIM-Sr Lien Reserve Fund-1 3137F4D41 FHMS K074 A2 256350023 MIM-Sr Lien Reserve Fund-1 38376GB33 GNR 116 BA 256350023 MIM-Sr Lien Reserve Fund-1 38379HLE3 GNR 14184H WK 256350023 MIM-Sr Lien Reserve Fund-1 38378CDK0 GNR 11169G AK 256350023 MIM-Sr Lien Reserve Fund-1 62888VAA6 NGN 10R1 IA 256350023 MIM-Sr Lien Reserve Fund-1 38378TAF7 GNR 1371A GA 38,163.42 (2,489.26) (27.19) (9.79) 947.79 36,584.97 73.24 23,798.84 - (23,797.38) - (42.85) 5.96 (9.51) 44.94 184,580.44 - - (505.03) (0.17) (9.44) 9,158.15 193,223.94 335.82 28,558.61 - (28,556.86) - (51.42) 156.06 (7.53) (98.86) 5,423.20 13,819.66 83,256.64 8,525.11 79,613.77 103,187.94 (5.75) 344.70 5,762.15 15.00 (13,831.12) (0.73) (5.47) 17.66 (18,231.95) 27.00 (5.05) 180.41 65,227.05 184.24 (3,563.97) (0.99) (4.96) 4.00 4,959.19 12.36 (11,286.90) _11.54) (3.76) (184.67) 68,136.90 104.21 (6,574.53) 3.96 (3.38) 2,711.09 99,325.08 199.20 256350023 MIM-Sr Lien Reserve Fund-1 383771Z89 GNR 10117A GK 256350023 MIM-Sr Lien Reserve Fund-1 36202F2H8 G2 005276 256350023 MIM-Sr Lien Reserve Fund-1 3138L33G8 FN AM3498 256350023 MIM-Sr Lien Reserve Fund-1 3137ATRW4 FHMS K020 A2 256350023 MIM-Sr Lien Reserve Fund-1 31846V401 FIRSTAMER:GVT OBLG D 26,383.86 99,800.00 125,985.00 226,725.38 256350023 MIM-Sr Lien Reserve Fund-1 CCYUSD Receivable 231.68 23,578.68 - - (1,240.51) (27.59) (3.38) 538.42 22,845.62 63.68 1,027,202.26 (825,252.69) (1,589.80) (1.04) (2.95) 327.14 25,117.23 60.25 (100,000.00) 143.16 (0.94) 57.78 (0.12) 1,562.62 127,547.50 247.19 428,674.95 64.70 256350023 MIM-Sr Lien Reserve Fund-1 CCYUSD Payable (190,469.73) 256350023 MIM-Sr Lien Reserve Fund-1 38378FRB8 GNR 135AJE 189,900.76 (190,448.25) 547.49 (207,982.38) 256350023 MIM-Sr Lien Reserve Fund-1 36179NHK7 G2 MA1134 207,573.73 343.26 207,916.99 33.17 256350023 MIM-Sr Lien Reserve Fund-1 912828L99 UNITED STATES TREASURY 59,862.00 - (59,889.84) - - 15.44 3.40 9.00 256350023 MIM-Sr Lien Reserve Fund-1 912828L99 UNITED STATES TREASURY 256350023 MIM-Sr Lien Reserve Fund-1 38378KWU9 GNR 1396 A 149,655.00 - (149,724.61) - - (149.43) 3.41 215.63 13,926.54 (133.02) 1.11 4.29 122.89 13,921.81 16.46 256350023 MIM-Sr Lien Reserve Fund-1 38378KXW4 GNR 13105 A 97,345.03 (4,995.46) 8.96 5.06 572.08 92,935.67 132.48 256350023 MIM-Sr Lien Reserve Fund-1 912828Y53 UNITED STATES TREASURY 199,948.00 - (199,962.23) - - 93.03 5.13 (83.93) 256350023 MIM-Sr Lien Reserve Fund-1 3137A5FP4 FHR 3791E DA 256350023 MIM-Sr Lien Reserve Fund-1 3137B5A60 FHR 4257G EK 27,858.58 22,243.93 (3,560.40) 7.42 6.06 132.79 24,444.45 50.40 (1,666.02) 16.05 9.74 399.19 21,002.89 42.60 256350023 MIM-Sr Lien Reserve Fund-1 38377RVK8 GNR 10166F GP 256350023 MIM-Sr Lien Reserve Fund-1 3137AUPE3 FHMS K021 A2 17,208.22 6,050.28 (1,147.60) 14.37 10.16 322.38 16,407.54 39.58 10.98 70.62 6,131.88 11.98 256350023 MIM-Sr Lien Reserve Fund-1 38378HXH4 GNR 12119 KB 14,384.67 0.00 0.00 0.00 (978.24) 26.56 12.92 339.04 13,784.96 14.23 256350023 MIM-Sr Lien Reserve Fund-1 38378KWU9 GNR 1396 A 52,224.52 (498.84) 5.21 16.65 459.22 52,206.77 61.71 256350023 MIM-Sr Lien Reserve Fund-1 383781ZD7 GNR 1347A EC 256350023 MIM-Sr Lien Reserve Fund-1 38378KS14 GNR 1374 AL 40,371.96 224,127.00 (3,323.84) 39.93 20.66 248.77 37,357.47 46.13 25.21 5,424.29 229,576.50 528.72 256350023 MIM-Sr Lien Reserve Fund-1 38378FRB8 GNR 135A JE 256350023 MIM-Sr Lien Reserve Fund-1 3136AC714 FNA 13M6 2A 256350023 MIM-Sr Lien Reserve Fund-1 38380AZ34 GNR 16147C DA 256350023 MIM-Sr Lien Reserve Fund-1 31381T4E7 FN 470721 43,190.35 128,843.42 258,189.54 187,715.09 - - (4,938.15) 72.06 31.59 7,113.07 189,993.65 309.29 (3,671.55) 37.82 32.19 530.02 40,118.84 82.30 (5,040.76) (121.37) 34.19 4,781.21 128,496.69 301.45 (1,733.59) (28.47) 35.77 2,499.17 258,962.42 581.69 256350023 MIM-Sr Lien Reserve Fund-1 3138L1W62 FN AM1568 256350023 MIM-Sr Lien Reserve Fund-1 3132CJAJ2 FH SA0009 163,395.78 (804.78) 4.09 36.95 (2.86) 162,629.18 351.03 105,931.97 - - (5,414.39) (156.39) 37.97 1,876.83 102,275.98 243.99 256350023 MIM-Sr Lien Reserve Fund-1 9128285W6 UNITED STATES TREASURY 162,328.94 - - - - - 38.53 4,075.02 166,442.48 283.62 256350023 MIM-Sr Lien Reserve Fund-1 3138EKXL4 FN AL3382 256350023 MIM-Sr Lien Reserve Fund-1 38378B6A2 GNR 1312A AB 256350023 MIM-Sr Lien Reserve Fund-1 3138EKXL4 FN AL3382 13,187.29 109,568.73 16,484.11 (1,304.13) 32.83 46.41 228.60 12,190.99 23.68 (2,004.44) 32.30 49.10 1,355.85 109,001.53 166.94 (1,630.16) 33.13 56.63 295.03 15,238.74 29.59 256350023 MIM-Sr Lien Reserve Fund-1 3137EADR7 FREDDIE MAC 149,862.00 57.23 217.27 150,136.50 859.38 256350023 MIM-Sr Lien Reserve Fund-1 3136ADFF1 FNR 1336D KC 115,527.93 (13,814.54) 169.76 57.53 1,297.00 103,237.68 128.23 256350023 MIM-Sr Lien Reserve Fund-1 3136A5KR6 FNR 1231G AD 256350023 MIM-Sr Lien Reserve Fund-1 38378CRT6 GNR 1213E EG 51,529.87 41,148.58 (10,543.95) 98.28 63.62 154.10 41,301.92 60.00 (2,503.10) 64.17 65.39 1,242.81 40,017.85 64.56 256350023 MIM-Sr Lien Reserve Fund-1 38378K5L4 GNR 1374 AL 199,224.00 75.86 4,768.14 204,068.00 469.97 256350023 MIM-Sr Lien Reserve Fund-1 38377JM59 GNR 10111F PE 62,636.55 (5,661.51) 121.56 83.52 1,236.86 63,416.97 129.24 256350023 MIM-Sr Lien Reserve Fund-1 912828YK0 UNITED STATES TREASURY 203,751.55 - - - - - 113.36 6,916.09 210,781.00 1,301.55 256350023 MIM-Sr Lien Reserve Fund-1 38378B7F0 GNR 1333 B 197,122.00 120.47 3,525.53 200,768.00 378.83 256350023 MIM-Sr Lien Reserve Fund-1 9128286N5 UNITED STATES TREASURY 93,310.93 121.32 (57.40) 93,374.85 212.51 256350023 MIM-Sr Lien Reserve Fund-1 912828V49 UNITED STATES TREASURY 59,479.22 - - - - - 125.27 492.88 60,097.36 46.59 256350023 MIM-Sr Lien Reserve Fund-1 38378KWU9 GNR 1396 A 256350023 MIM-Sr Lien Reserve Fund-1 38378KWU9 GNR 1396 A 34,816.35 52,224.52 (332.56) 16.81 133.33 170.59 34,804.52 41.14 (498.84) 24.48 152.45 304.16 52,206.77 61.71 256350023 MIM-Sr Lien Reserve Fund-1 9128285W6 UNITED STATES TREASURY 108,219.29 - - - - - 164.76 2,577.60 110,961.65 189.08 256350023 MIM-Sr Lien Reserve Fund-1 912828XB1 UNITED STATES TREASURY 153,094.50 - - - - - 179.65 9,703.85 162,978.00 1,208.45 256350023 MIM-Sr Lien Reserve Fund-1 38379KDN5 GNR 1529 AD 117,723.51 (17,453.51) 142.39 197.70 1,913.42 102,523.51 184.15 256350023 MIM-Sr Lien Reserve Fund-1 912828L57 UNITED STATES TREASURY 552,211.00 - - - - - 209.47 18,056.03 570,476.50 26.30 256350023 MIM-Sr Lien Reserve Fund-1 38378KRS0 GNR 1378 AG 448,258.50 228.65 5,832.85 454,320.00 895.72 256350023 MIM-Sr Lien Reserve Fund-1 3137ATRW4 FHMS K020 A2 158,348.03 231.37 1,732.51 160,311.90 310.69 256350023 MIM-Sr Lien Reserve Fund-1 38378VC45 GNR 13116D MA 130,878.71 (5,600.50) 183.51 252.99 3,166.99 128,881.71 235.30 256350023 MIM-Sr Lien Reserve Fund-1 9128286N5 UNITED STATES TREASURY 181,437.92 - - - - - 290.81 (166.52) 181,562.20 413.21 256350023 MIM-Sr Lien Reserve Fund-1 3135G0D75 FEDERAL NATIONAL MORTGAGE ASSOCIATION 599,580.00 - - - - - 328.65 1,777.35 601,686.00 2,475.00 256350023 MIM-Sr Lien Reserve Fund-1 38378B7F0 GNR 1333 B 246,402.50 355.82 4,201.68 250,960.00 473.54 256350023 MIM-Sr Lien Reserve Fund-1 912828YK0 UNITED STATES TREASURY 462,168.15 - - - - - 367.49 15,577.36 478,113.00 2,952.31 256350023 MIM-Sr Lien Reserve Fund-1 912828L57 UNITED STATES TREASURY 853,417.00 ,� ,� � - - - - 415.28 27,813.22 881,645.50 40.64 Page 19 of 45 pir RIVERSIDE COUNTY TRANSPORTATION COMMISSION 91 CIP STAMP Portfolio Transaction Report by Account Quarter ended March 31, 2020 Source Base Base Change In Beginning Base Base Maturities and Net Total Realized Amortization/A Net Unrealized Ending Base Ending Accrued 256350023 256350023 256350023 256350023 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 MIM-Sr Lien Reserve Fund-1 3136A72D3 912828V49 3137EADB2 3138EKXL4 FNA 12M9 A2 UNITED STATES TREASURY FREDDIE MAC EN AL3382 231,872.27 - - 243,324.07 - - 558,481.00 - - 214,293.42 - - 18,495,364.73 1,890,679.06 (1,287,183.61) (16,514.34) (21,192.05) (479,756.56) 479.67 617.39 649.06 102.59 662.62 (1,238.87) (4,485.00) 172.91 1,532.72 1,911.38 10,158.44 4,237.04 484,612.88 217,543.22 245,852.84 569,288.50 198,103.62 19,080,313.00 442.66 190.59 2,830.21 384.72 63,096.32 62,529,326.38 19,237,299.82 (11,716,133.94) (2,850,000.00) (2,016,640.27) 1,378.23 (21,377.251 1,087,316.46 66,434,541.19 202,498.31 239 Page 20 of 45 OFRIVERSIDE COUNTY TRANSPORTATION COMMISSION 91 CIP STAMP Portfolio Summary of Investments for quarter ended March 31, 2020 ATTACHMENT 5 Credit Rating Base Market Value + Accrued 70,000.000 60,000,000 50,000.000 40,000.000 30,000,000 20,000,000 10,000,000 0 AAA I AA+ I AA- I A+ I A I NA A-1+ I Asset Class Cash{-0.313%)1 Money Market -- � Funds (1.403%) 'Fixed Income (9a.910%) Chart calculated by: Base Markel Value + Accrued *Negative cash reflects securities in transit at month end Industry Group Other 04.284%j GNMA2 Collateral (1.636%) Agency Collet PAC CMO (3.694%) Sanks (5.121%)� Agency Collet CMO (5.174%) FNMA Collateral (7.179%) commerelal MBS (20.772%) Sovereign /42.75a%) Chart calculated by:. Base Market Value + Accrued Security Type Other (21.351%) US GOV (33.976%) GNMA (6.357%) GNMACMO (6.642%) CORP (6.869%)' FNMA (9.090%) FHLMC CMO (7.12a%) FHLMC (5.64a%) Chart calculated by: Base Markel Value + Accrued Market Sector Other (2.241%) Utility (1.396%) Industrial (2A70%)-�•` Asset Backed (2.798%) Agency (5.333%) , Financial (6.479%) , Government (3E1.896%) -- Mangaga 6ecked (40.398%) Chart calculated by: Base Markel Value + Accrued 240 OFRIVERSIDE COUNTY TRANSPORTATION COMMISSION 91 CIP STAMP Portfolio Series A & Series B Reserve Fund Summary of Investments for quarter ended March 31, 2020 ATTACHMENT 6 Credit Rating Base Market Value + Accrued 25,000,000 20,000,000 15,000,000 10,000,000 5,000,000 0 - Asset Class Cash 0.084101 Money Merits! ~� ` Fund* (2.259%) Fixed Income (96.645Ye) Chart calculated by: Base Market Value +Accrued `Negative cash reflects securities in transit at month end AAA Industry Group Security Type other(7.89TiS) FHLMC CMO (4.575%) FHLMC 0.609%) AGCY BONO 110.261%) GNMA CMO (11.116%) —US GOV (33A96%) FNMA (12.880%I GNMA 111 247%) Chart calculated by: Base Market Value + Accrued Other (1.249%j Cash (1.155%)= GNMA2 Callateral (2.208%) Agency Collet PAC CMO (4.759%) Agency Collet CMO (S.767%) FNMA Collateral" (10.929%) Commercial MRS (25.686%) —Sovereign (48.247%) Chart calculated by: Base Market Value + Aocrued_ Market Sector Cash (1.155%) Agency (10.261%) - - Government (37.986%) Mortgage Backed (50.598 k ) Chart calculated by: Base Market Value + Accrued 241 Iffir RIVERSIDE COUNTY TRANSPORTATION COMMISSION 91 CIP STAMP Portfolio Residual Fund Required Retained Balance Summary of Investments for quarter ended March 31, 2020 ATTACHMENT 7 Base Market Value + Accrued 25,000,000 20,000,000 15,000,000 10,000,000 5,000,000 0 AAA AA+ AA - Money Market Funds (0.662%) 111, Fixed Income (99.316%) Chart calculated hy: Base Market Value * Accrued — "Negative cash reflects securities in transit at month end A+ A A - NA A-1+ Industry Group Other (12.11914) SUPRANA11ONAL (3.690%) FNMA (5.180%} FHLMC CMO- ~i (5A85%) ABS (6.961%1 CP (8.790%). - -US GOV (40.757%i CORP (16.996%) Chart calculated by: Base Market Value * Accrued— omer (28.5115%) Electric {2.995%) Diversified Flnan Send (3.389%) FNMA Collateral -- (3.438%) Multi -Nall one (3.690%) Commercial MBS (7.4205L) --Sovereign (42.726%) Banks (12.778%) Chart calculated by: Base Market Value u Accrued — Market Sector Other (0.002%) Municipal (2.870%) Utility (3.459%)—: Industrial (6.163%)" Asset Backed (6.961%1 Financial' (16.166%) Mortgage Backed (17.263%) — Government (46.416%) Chart calculated by Base Market Value * Accrued- 242 OFRIVERSIDE COUNTY TRANSPORTATION COMMISSION 91 CIP STAMP Portfolio TIFIA Reserve Fund Summary of Investments for quarter ended March 31, 2020 ATTACHMENT 8 Credit Rating Base Market Valu 25,000,000 20,000,000 15,000,000 10,000,000 5,000,000 0 AAA Asset Class Money Market Funds 11.559%) Fixed Income (98A41%) Chart calculated tic Base Market Value + Accrued `Negative cash reflects securities in transit at month end Industry Group Other (2.02S%) GNMA2 Collateral (2.033%1 GNMA Callateral� (3.228%) , Agency Collet PAC CMO (4.484%) Agency Collet CMO (5.423%) FNMA Collateral (0.590Y.} Commercial MB$ (33.396%) Sovereign (37.718%) Chart calculated by: Base Market Value + Accruec Security Type Other (7.982%) GNMA {7.552%) AGCY BONO- --- {7.8489k ONMA CMO (9.455%) 'US GOV (25.70fi%) FHLMC FNMA (19.374%) (10.695%) FHLMC CMG" {111.590%) Chart calculated Or. Base Market Value +Accrual Market Sector Cash (1.559%) Agency 7.648%)— Government (90.072%) —Mortgage Backed (60.722%) Chart calculated by: Base Market Value + Accrued 243 RIRIVERSIDE COUNTY TRANSPORTATION COM M 1 SS I ON 2017 Financing STAMP Portfolio by Investment Category for quarter ended March 31, 2020 ATTACHMENT 9 Security Type Category Issuer Final Maturity Trade Date Current Face Valu+ Original Cost Next Call Date Base Market Value Base Net Total Unrealized Gain/Loss Coupon Yield Summarized Credit Rating Source Account Account Identifier 240907004 MIM-RCTC Toll Revenue: - 1-15 3134GVDW5 Agency FEDERAL HOME LOAN MORTGAGE CORPORA 08/26/2021 02/21/2020 675,000.00 675,000.00 05/26/2020 675,560.25 560.25 1.550 1.341 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137EADB2 Agency Freddie Mac 01/13/2022 09/30/2019 400 000.00 406 425.20 --- 414,028.00 ,987.84 2.375 0.399 AAA 240907020 RCTC 1-15 Pp RAMP UP RESERVE 3130AECJ7 Agency Federal Home Loan Banks 05/28/2020 07/03/2018 350,000.00 350,150.50 --- 351,246.00 1,232.79 2.625 0.372 AAA 240907004 MIM-RCTC Toll Revenue: -1-15 38374VGF0 Agency CMO Government National Mortgage Association 12/16/2037 02/20/2020 457 845.96 460 135.19 --- 461 971.15 2 011.07 4.500 0.443 AAA 240907020 RCTC 1-15 Pp RAMP UP RESERVE 38377REV3 Agency CMO Government National Mortgage Association 10/20/2039 07/01/2019 30 827.70 31 439.44 --- 32 046.94 691.94 3.500 0.915 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137AH6C7 Agency CMO Freddie Mac 07/25/2021 11/29/2018 95,267.99 95,439.18 --- 97,592.53 2,241.50 3.230 0.994 AAA 240907020 RCTC 1-15 Prj RAMP UP RESERVE 38376V2E6 Agency CMO Government National Mortgage Association 07/16/2039 08/06/2019 20,672.74 21,512.58 --- 22,026.60 580.91 4.000 0.768 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137AJMF8 Agency CMO Freddie Mac 10/25/2021 11/29/2018 93 513.84 93 203.35 --- 95 886.28 2 625.39 2.968 0.968 AAA 240907020 RCTC 1-15 Prj RAMP UP RESERVE 38375XCM4 Agency CMO Government National Mortgage Association 11/16/2037 05/14/2019 22,730.71 23,374.45 --- 23,773.14 535.82 5.000 1.156 AAA 240907020 RCTC I-15 Pn RAMP UP RESERVE 383742C76 Agency CMO Government National Mortgage Association 08/16/2037 01/31/2018 56,997.76 58,422.70 --- 59,011.49 980.23 4.000 2.028 AAA 240907020 RCTC 1-15 Pp RAMP UP RESERVE 38378BXQ7 Agency CMO Government National Mortgage Association 01/16/2036 06/17/2019 6144.61 6083.16 --- 6,121.50 (0.06) 1.537 3.263 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 38376YPU9 Agency CMO Government National Mortgage Association 12/20/2038 05/10/2019 16,549.89 16,436.11 --- 16,665.91 196.59 2.500 1.040 AAA 240907020 RCTC 1-15 Prj RAMP UP RESERVE 3137ATRW4 Agency CMO Freddie Mac 05/25/2022 09/26/2018 100,000.00 97,238.28 --- 102,038.00 3,719.24 2.373 1.263 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137ASR97 Agency CMO Freddie Mac 01/25/2022 02/27/2018 13,808.81 13,498.12 --- 13,835.05 166.34 1.573 1.154 AAA 240907020 RCTC 1-15 Prj RAMP UP RESERVE 3136A72D3 Agency CMO Federal National Mortgage Association 04/25/2022 07/26/2019 13,545.33 13,624.59 --- 13,768.56 142.71 2.482 1.373 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137AYCE9 Agency CMO Freddie Mac 10/25/2022 08/13/2019 100 000.00 102 164.06 --- 103 253.00 1 551.62 2.682 1.269 AAA 240907020 RCTC 1-15 Prj RAMP UP RESERVE 31397QWZ7 Agency CMO Federal National Mortgage Association 09/25/2029 09/28/2018 15 012.90 15 144.27 --- 15 072.65 63.39 4.000 0.614 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 38378HXH4 Agency CMO Government National Mortgage Association 09/16/2027 03/08/2019 6,209.75 5,887.08 --- 6,265.89 340.60 1.250 0.807 AAA 240907020 RCTC 1-15 Prj RAMP UP RESERVE 31392J6N4 Agency CMO Federal National Mortgage Association 04/25/2023 12/05/2017 293,088.62 318,845.50 - 306,963.44 (1,478.21) 5.500 1.296 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137B84S3 Agency CMO Freddie Mac 02/15/2029 01/31/2018 78 645.47 77 662.40 --- 79 859.75 1 890.01 2.000 0.988 AAA 240907020 RCTC 1-15 Prj RAMP UP RESERVE 3137A5FP4 Agency CMO Freddie Mac 01/15/2021 01/30/2018 36 892.62 36 984.86 --- 37,277.78 373.60 2.500 0.697 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 31398N2K9 Agency CMO Federal National Mortgage Association 11/25/2025 01/31/2018 0.42 0.42 --- 0.42 0.00 3.500 0.000 AAA 240907020 RCTC 1-15 Prj RAMP UP RESERVE 38378JZD7 Agency CMO Government National Mortgage Association 12/20/2040 10/16/2019 16,144.67 15,942.87 --- 16,343.89 388.16 1.500 0.733 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 38377QKH9 Agency CMO Government National Mortgage Association 08/20/2040 08/20/2019 19,606.34 19,962.48 --- 20,589.01 639.79 3.000 0.894 AAA 240907020 RCTC 1-15 Prj RAMP UP RESERVE 38378CDK0 Agency CMO Government National Mortgage Association 03/20/2035 01/30/2018 20,763.19 20,954.60 --- 20,828.60 56.79 3.000 0.508 AAA 240907020 RCTC1-15Prj RAMP UP RESERVE 38378AWX5 Agency CMO Government National Mortgage Association 01/20/2036 01/30/2018 64,722.68 65,349.68 --- 65,427.50 538.44 3.000 0.595 AAA 240907020 RCTC I-15 Pq RAMP UP RESERVE 38378DDC6 Agency CMO Government National Mortgage Association 04/20/2038 06/20/2018 15,441.96 15,546.31 --- 15,492.30 51.10 3.500 0.557 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 38379HLE3 Agency CMO Government National Mortgage Association 05/20/2043 10/18/2018 45 119.41 45 055.96 --- 46 590.75 1 541.31 3.500 0.158 AAA 240907020 RCTC1-15Prj RAMP UP RESERVE 38378VC45 Agency CMO Government National Mortgage Association 12/16/2041 11/23/2018 56,256.76 54,226.24 - 57,774.56 3,270.86 2.250 1.222 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 38377JM59 Agency CMO Government National Mortgage Association 10/20/2039 11/21/2018 27,871.53 27,174.75 --- 28,491.67 1,190.56 2.500 1.174 AAA 240907020 RCTC 1-15 Prj RAMP UP RESERVE 3137ARBX3 Agency CMO Freddie Mac 03/15/2039 03/14/2019 33 796.21 33 315.67 - 33 640.07 559.69 1.055 1.581 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 38376YFF3 Agency CMO Government National Mortgage Association 03/20/2039 06/03/2019 5 422.07 5 462.74 --- 5 496.03 53.46 4.000 0.890 AAA 240907020 RCTC 1-15 Prj RAMP UP RESERVE 38379JM99 Agency CMO Government National Mortgage Association 02/16/2041 08/28/2019 19 974.37 20 103.11 --- 20 703.63 615.68 2.500 0.385 AAA 240907020 RCTC1-15Prj RAMP UP RESERVE 38374VGF0 AgencyCMO Government National Mortgage Association 12/16/2037 02/20/2020 76,307.66 76,689.20 --- 76,995.19 335.18 4.500 0.443 AAA 240907004 MIM-RCTC ToII Revenue:-1-15 31416BTW8 Agency MBS Federal National Mortgage Association 01/01/2024 09/03/2019 340,075.53 354,741.30 --- 359,378.22 7,009.37 5.500 0.104 AAA 240907004 MIM-RCTC Toll Revenue:-1-15 3137B7YX1 Agency MBS Freddie Mac 04/25/2023 08/19/2019 482,337.35 488,441.94 --- 494,386.14 7,102.72 2.592 0.766 AAA 240907004 MIM-RCTC Toll Revenue: -1-15 3137FJXN4 Agency MBS Freddie Mac 02/25/2023 08/27/2019 54,784.63 54,733.27 - 53,755.22 (647.92) 1.912 4.306 AAA 240907004 MIM-RCTC Toll Revenue: -1-15 3137FQXG3 Agency MBS Freddie Mac 07/25/2024 01/16/2020 1 000 000.00 1 000 000.00 --- 999 260.00 (740.00) 2.002 1.365 AAA 240907020 RCTC 1-15 Prj RAMP UP RESERVE 31283K5N4 Agency MBS Freddie Mac 08/01/2020 12/05/2017 58133.54 59442.94 - 61015.22 2470.39 5.000 -24.300 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3620A9WV9 Agency MBS Government National Mortgage Association 12/15/2024 05/23/2018 9,677.85 9,889.56 --- 10,268.40 457.03 4.000 -0.120 AAA 240907020 RCTC 1-15 Prj RAMP UP RESERVE 3138NJAE8 Agency MBS Federal National Mortgage Association 12/01/2020 09/13/2018 20157.84 20390.92 --- 20145.34 (104.09) 3.630 3.484 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 31381RLL6 Agency MBS Federal National Mortgage Association 07/01/2021 11/02/2018 44,750.13 45,414.40 --- 45,675.11 592.82 3.840 1.808 AAA 240907020 RCTC 1-15 Prj RAMP UP RESERVE 31381SVJ8 Agency MBS Federal National Mortgage Association 11/01/2021 02/22/2019 41937.54 42147.23 --- 42962.91 942.46 3.330 1.640 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 36202F2H8 Agency MBS Government National Mortgage Association 01/20/2027 12/12/2019 31,097.33 31,865.05 --- 32,409.33 568.29 3.000 1.259 AAA 240907020 RCTC 1-15 Prj RAMP UP RESERVE 36178NB99 Agency MBS Government National Mortgage Association 08/15/2027 10/11/2019 35,156.90 35,546.93 --- 36,584.97 1,050.35 2.500 0.979 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3136AC714 Agency MBS Federal National Mortgage Association 03/25/2023 02/21/2018 32 465.54 31 931.64 --- 33 432.36 1 277.42 2.535 1.582 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 31418AU48 Agency MBS Federal National Mortgage Association 07/01/2023 05/21/2019 0.00 0.00 - (0.00) (0.00) 2.500 0.117 AAA 240907020 RCTC 1-15 Prj RAMP UP RESERVE 3137B1U75 Agency MBS Freddie Mac 01/25/2023 02/27/2018 115,182.91 113,230.21 --- 118,805.42 4,750.09 2.522 0.932 AAA 240907020 RCTC1-15Prj RAMP UP RESERVE 38378KW119 Agency MBS Government National Mortgage Association 11/16/2041 05/03/2019 35,260.79 33,079.03 - 34,804.52 1,214.39 1.400 2.010 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137B3NW4 Agency MBS Freddie Mac 09/25/2022 09/26/2018 69 178.04 68 583.54 --- 70 716.56 1 968.38 2.778 0.869 AAA 240907020 RCTC 1-15 Prj RAMP UP RESERVE 38378KW47 Agency MBS Government National Mortgage Association 08/16/2035 06/13/2019 41,919.21 41,683.42 - 41,917.95 151.93 2.150 1.998 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137AXHN6 Agency MBS Freddie Mac 02/25/2022 01/25/2018 46,513.69 45,874.13 --- 46,886.73 717.93 1.749 0.819 AAA 240907020 RCTC 1-15 Prj RAMP UP RESERVE 3136AMM48 Agency MBS Federal National Mortgage Association 07/25/2022 09/26/2018 80 632.80 79 427.78 --- 81 918.09 1 948.42 2.509 1.441 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 36179M4J6 Agency MBS Government National Mortgage Association 03/20/2028 11/20/2019 29,218.95 29,570.49 --- 30,323.72 761.47 2.500 1.143 AAA 240907020 RCTC 1-15 Pp RAMP UP RESERVE 36202FA30 Agency MBS Government National Mortgage Association 09/20/2024 10/23/2019 16 035.81 16 707.32 - 17,048.15 408.13 4.500 0.579 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137B1UF7 Agency MBS Freddie Mac 09/25/2022 01/25/2018 25,311.62 24,939.85 --- 25,531.07 432.49 1.785 0.939 AAA 240907020 RCTC 1-15 Prj RAMP UP RESERVE 3137BQBY2 Agency MBS Freddie Mac 03/25/2022 08/16/2019 60556.70 60947.01 --- 61853.22 1007.34 2.183 0.878 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3138EJPZ5 Agency MBS Federal National Mortgage Association 07/01/2022 07/22/2019 24,475.23 24,921.71 --- 25,458.15 509.34 3.022 0.763 AAA 240907020 RCTC 1-15 Prj RAMP UP RESERVE 3620ARB67 Agency MBS Government National Mortgage Association 05/15/2025 05/23/2018 20,847.95 21,343.10 --- 21,920.16 760.99 4.000 0.609 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 31418CQM9 Agency MBS Federal National Mortgage Association 10/01/2027 09/11/2019 20,303.88 20,820.99 --- 21,259.58 469.36 3.000 1.148 AAA 240907020 RCTC 1-15 Prj RAMP UP RESERVE 3140J6DU8 Agency MBS Federal National Mortgage Association 08/01/2031 07/26/2019 73,238.12 73,730.19 --- 76,028.50 2,326.66 2.500 1.151 AAA 240907020 RCTC1-15Prj RAMP UP RESERVE 3138L2GH4 Agency MBS Federal National Mortgage Association 07/01/2021 07/26/2019 21,314.13 21,199.24 --- 21,520.24 277.23 1.870 0.909 AAA 240907020 RCTC 1-15 Pq RAMP UP RESERVE 3136A96F0 Agency MBS Federal National Mortgage Association 11/25/2022 02/27/2018 53,290.05 51,651.80 - 54,274.32 1,862.92 2.184 1.209 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137FGZN8 Agency MBS Freddie Mac 02/25/2023 06/18/2019 23,941.69 23,930.46 --- 23,500.92 (300.44) 1.862 3.640 AAA 240907020 RCTC 1-15 Prj RAMP UP RESERVE 31381QB54 Agency MBS Federal National Mortgage Association 03/01/2021 11/07/2018 55,441.02 56,588.82 - 56,203.89 385.01 4.410 2.262 AAA 240907020 RCTC 1-15 Prj RAMP UP RESERVE 3132CJAJ2 Agency MBS Freddie Mac 09/01/2029 01/28/2020 42 433.14 43 636.53 --- 44467.81 816.01 3.000 1.134 AAA 240907020 RCTC 1-15 Prj RAMP UP RESERVE 36179NHK7 Agency MBS Government National Mortgage Association 07/20/2028 03/31/2020 132 661.46 138 382.49 --- 138 611.33 228.84 3.000 1.409 AAA 240907004 MIM-RCTC Toll Revenue: -1-15 17305EFM2 Asset Backed Citibank Credit Card Issuance Trust - 2014-AI 01/23/2023 12/11/2019 500 000.00 505 531.67 --- 504 345.00 304.92 2.880 1.781 AAA 240907004 MIM-RCTC Toll Revenue: - 1-15 87165LBB6 Asset Backed Synclrrony Credit Card Master Note Trust 2016-2 05/17/2021 08/02/2019 525 000.00 526 271.48 --- 523 582.50 (2 227.41) 2.210 2.459 AAA 240907004 MIM-RCTC Toll Revenue: -1-15 02005AGP7 Asset Backed Ally Master Owner Trust, Series 2018-1 01/15/2021 11/18/2019 175,000.00 176,374.02 --- 172,149.25 (3,766.15) 2.700 4.839 AAA 240907004 MIM-RCTC Toll Revenue: -1-15 65478DAD9 Asset Backed Nissan Auto Receivables 2018-A Owner Trust B6/J15//A022 06/29/2018 462 570.91 460 185.78 -- 464 129.78 2 230.91 2.650 2.050 AAA Page 25 of 45 RIRIVERSIDE COUNTY TRANSPORTATION COM M 1 SS I ON 2017 Financing STAMP Portfolio by Investment Category for quarter ended March 31, 2020 Source Account 240907004 Account MIM-RCTC Toll Revenue: - I-15 Identifier 38013FAD3 Category Asset Backed Issuer GM Financial Consumer Automobile Receivables Trust 2018 , . Maturity 10/16/2023 Trade Date 07/24/2019 Current Face Value 350,000.00 Original Cost 356 412.11 Next Call Date --- Base Market Value 354,543.00 Base Net Total Unrealized Gain/Loss 823.78 Coupon 3.210 Summarized Yield Credit Rating 1.821 AAA 240907004 MIM-RCTC Toll Revenue: - 1-15 47789JAB2 Asset Backed John Deere Owner Trust 2019 10/15/2021 03/05/2019 305,153.35 305 139.43 --- 305,962.00 813.60 2.850 2.152 AAA 240907004 MIM-RCTC Toll Revenue: -1-15 65478LAB5 Asset Backed Nissan Auto Lease Trust 2019-B 10/15/2021 07/16/2019 240,078.18 240,057.18 --- 239,965.35 (104.09) 2.270 2.378 AAA 240907004 MIM-RCTC Toll Revenue: - 1-15 477870AB5 Asset Backed John Deere Owner Trust 2019-B 05/16/2022 07/16/2019 288 232.15 288 231.05 --- 288,635.67 403.74 2.280 1.996 AAA 240907004 MIM-RCTC Toll Revenue: -1-15 14315PAB1 Asset Backed Carmax Auto Owner Trust 2019-3 12/15/2022 07/24/2019 355 808.67 355 792.69 --- 356 840.51 1 040.31 2.210 1.747 AAA 240907004 MIM-RCTC Toll Revenue: -1-15 26209AAE1 Asset Backed Drive Auto Receivables Trust 2019-4 01/16/2024 09/09/2019 260,000.00 259,964.59 --- 255,541.00 (4,432.11) 2.230 3.317 AA 240907004 MIM-RCTC Toll Revenue: -1-15 65602VXS0 CD Norinchukin Bank NY Branch 04/17/2020 01/21/2020 650,000.00 649,999.47 --- 650,344.50 344.60 1.740 0.615 AAA 240907004 MIM-RCTC Toll Revenue: -1-15 62888VAA6 CMO NCUA Guaranteed Notes Trust 2010-RI 10/07/2020 01/22/2019 262 445.76 262 538.03 --- 262 280.42 (193.07) 2.116 1.390 AAA 240907004 MIM-RCTC Toll Revenue: -1-15 62888UAB6 CMO NCUA Guaranteed Notes Trust 2010-R2 11/05/2020 03/15/2019 206,179.01 206,485.06 --- 206,201.69 (89.08) 2.136 1.008 AAA 240907020 RCTC 1-15 Prj RAMP UP RESERVE 62888VAA6 CMO NCUA Guaranteed Notes Trust 2010-RI 10/07/2020 05/10/2019 0.01 0.01 --- 0.01 0.00 2.116 1.822 AAA 240907004 MIM-RCTC Toll Revenue: -1-15 50000DDD5 CP KOCH INDUSTRIES INC 04/13/2020 03/26/2020 1 500 000.00 1 498 425.00 --- 1 499 400.00 450.00 0.000 1.108 AAA 240907004 MIM-RCTC Toll Revenue: - 1-15 23336GD65 CP DTE Electric Company 04/06/2020 03/26/2020 1,500,000.00 1,498,556.25 --- 1,499,745.00 401.25 0.000 1.020 AAA 240907004 MIM-RCTC Toll Revenue: -1-15 6951131310 CP PacifiCorp 04/01/2020 03/25/2020 1 500 000.00 1 499 052.08 --- 1 500 000.00 0.00 0.000 0.000 AA 240907004 MIM-RCTC Toll Revenue: -1-15 14918ED16 CP CommoeSpirit Health 04/01/2020 03/30/2020 1,000,000.00 999,783.33 --- 1,000,000.00 0.00 0.000 0.000 NA 240907004 MIM-RCTC Toll Revenue: -1-15 46625HHZ6 Corporate JPMorgan Chase & Co. 05/10/2021 01/10/2020 1,000,000.00 1,035,920.00 --- 1,027,680.00 (2,470.57) 4.625 2.084 A 240907004 MIM-RCTC Toll Revenue: -1-15 06051GFN4 Corporate Bank of America Corporation 04/21/2020 12/04/2017 1,000,000.00 997,850.00 --- 999,840.00 (109.73) 2.250 2.513 A 240907004 MIM-RCTC Toll Revenue: -1-15 31677QBG3 Corporate Fifth Third Bank 06/14/2021 07/23/2019 500,000.00 500,110.00 05/14/2021 500,465.00 391.19 2.250 2.165 A 240907004 MIM-RCTC Toll Revenue: -1-15 17401QAK7 Corporate Citizens Bank of Pennsylvania Inc. 05/26/2020 03/11/2020 1,500,000.00 1,501,725.00 --- 1,490,025.00 (11,257.09) 2.217 6.521 A 240907004 MIM-RCTC Toll Revenue: - 1-15 69353RFU7 Corporate PNC Bank, National Association 02/24/2023 02/20/2020 535,000.00 535,000.00 02/24/2022 504,237.50 (30,762.50) 2.004 3.874 A 240907020 RCTC 1-15 Prj RAMP UP RESERVE CCYUSD Currency UNITED STATES OF AMERICA 03/31/2020 --- 0.00 (138,611.72) - (138,611.72) 0.00 0.000 0.000 AAA 240907004 MIM-RCTC Toll Revenue: -1-15 31846V203 MM Fund First American Funds Inc. - Government Obligations Fund 03/31/2020 --- 0.00 105 302.57 --- 105 302.57 0.00 0.080 0.100 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 31846V203 MM Fund First American Funds, Inc. - Government Obligations Fund 03/31/2020 --- 0.00 185,725.88 - 185,725.88 0.00 0.080 0.100 AAA 240907004 MIM-RCTC Toll Revenue: -1-15 048506DN6 Muni Atlantic County Improvement Authority 06/17/2020 07/05/2019 265,000.00 267,210.10 --- 266,012.30 517.60 3.250 1.422 NA 240907004 MIM-RCTC Toll Revenue: -1-15 072024WU2 Muni Bay Area Toll Authority 04/01/2020 09/20/2019 425,000.00 425,000.00 --- 425,000.00 0.00 2.025 0.000 AA 240907004 MIM-RCTC Toll Revenue: -1-15 59447TXK4 Muni Michigan Finance Authority 12/01/2020 12/05/2019 255 000.00 255 000.00 --- 256 366.80 1 366.80 2.034 1.223 AA 240907004 MIM-RCTC Toll Revenue: -1-15 459058GK3 Non -US Gov International Bank for Reconstruction and Development 08/21/2020 --- 1,510,000.00 1,510,367.00 --- 1,510,453.00 378.56 0.230 0.157 AAA 240907004 MIM-RCTC Toll Revenue: -1-15 45818WCP9 Non -US Gov Inter -American Development Bank 09/16/2022 09/10/2019 1,500,000.00 1,500,000.00 --- 1,499,460.00 (540.00) 0.670 0.695 AAA 240907020 RCTC 1-15 Prj RAMP UP RESERVE 912828UH1 TIPS United States Department of The Treasury 01/15/2023 02/05/2018 83 811.00 82 740.39 --- 82 801.08 (402.61) 0.125 0.560 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 9128286N5 TIPS United States Department of The Treasury 04/15/2024 --- 163,635.20 166,513.53 --- 165,999.73 (131.89) 0.500 0.142 AAA 240907004 MIM-RCTC Toll Revenue: -1-15 912828VV9 US Gov United States Department of The Treasury 08/31/2020 01/24/2020 500,000.00 501,621.09 - 504,160.00 3,023.42 2.125 0.123 AAA 240907004 MIM-RCTC Toll Revenue: -1-15 912828B58 US Gov United States Department of The Treasury 01/31/2021 12/24/2019 3 500 000.00 3 517 636.72 --- 3 560 445.00 46 900.61 2.125 0.056 AAA 240907004 MIM-RCTC Toll Revenue: - 1-15 912828Y53 US Gov United States Department of The Treasury 07/31/2020 --- 6 000 000.00 6 000 750.60 - 5 999,880.00 (154.95) 0.128 0.136 AAA 240907004 MIM-RCTC Toll Revenue: -1-15 9128285H9 US Gov United States Department of The Treasury 10/31/2020 12/06/2018 5 300 000.00 5 299 852.27 --- 5 299 205.00 (749.66) 0.130 0.158 AAA 240907004 MIM-RCTC Toll Revenue: -1-15 912796TS8 US Gov United States Department of The Treasury 04/30/2020 02/12/2020 2,500,000.00 2,491,738.54 - 2,499,900.00 3,011.46 0.000 0.049 AAA 240907004 MIM-RCTC Toll Revenue: -1-15 912796TT6 US Gov United States Department of The Treasury 05/07/2020 01/23/2020 2,000,000.00 1,991,316.00 --- 1,999,880.00 2,886.00 0.000 0.059 AAA 240907004 MIM-RCTC Toll Revenue: - 1-15 912796TV1 US Gov United States Department of The Treasury 05/14/2020 02/10/2020 3,000,000.00 2,988,245.82 --- 2,999,730.00 5,284.17 0.000 0.075 AAA 240907004 MIM-RCTC Toll Revenue: -1-15 9127962A6 US Gov United States 04/07/2020 02/06/2020 3,700,000.00 3,691,096.17 --- 3,699,963.00 916.98 0.000 0.052 AAA 240907020 RCTC 1-15 Prj RAMP UP RESERVE 912828VA5 US Gov United States Department of The Treasury 04/30/2020 --- 665 000.00 648 627.54 - 665 551.95 1 293.69 1.125 0.117 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 912828V V9 US Gov United States Department of The Treasury 08/31/2020 --- 775 000.00 766 685.54 --- 781 448.00 8 157.79 2.125 0.123 AAA 240907020 RCTC 1-15 Prj RAMP UP RESERVE 912828B58 US Gov United States Department of The Treasury 01/31/2021 --- 550,000.00 547,430.08 - 559,498.50 9,800.19 2.125 0.056 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 912828J43 US Gov United States Department of The Treasury 02/28/2022 12/30/2019 40 000.00 40 148.44 --- 41 168.80 1 037.12 1.750 0.221 AAA 240907020 RCTC 1-15 Prj RAMP UP RESERVE 912828L57 US Gov United States Department of The Treasury 09/30/2022 --- 705,000.00 707,360.16 - 731,247.15 24,236.31 1.750 0.255 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 912828T67 US Gov United States Department of The Treasury 10/31/2021 12/09/2019 165 000.00 163 730.27 --- 167 758.80 3 822.11 1.250 0.191 AAA 240907020 RCTC 1-15 Prj RAMP UP RESERVE 912828Y53 US Gov United States Department of The Treasury 07/31/2020 --- 725,000.00 724,879.95 - 724,985.50 45.83 0.128 0.136 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 9128285H9 US Gov United States Department of The Treasury 10/31/2020 12/06/2018 500,000.00 499,986.06 --- 499,925.00 (70.72) 0.130 0.158 AAA 240907020 RCTC 1-15 Pr( RAMP UP RESERVE 9128286U9 US Gov United States Department of The Treasury 05/15/2022 02/13/2020 40 000.00 40 606.25 --- 41 604.80 1 029.91 2.125 0.230 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 912828YK0 US Gov United States Department of The Treasury 10/15/2022 --- 415 000.00 411 599.22 --- 426 703.00 14 689.96 1.375 0.261 AAA 240907004 MIM-RCTC Toll Revenue: -1-15 97689P2K3 VRDN Wisconsin Housing and Economic Development Authority 09/01/2037 07/18/2019 1,300,000.00 1,300,000.00 04/30/2020 1,300,000.00 0.00 4.000 4.000 AA 240907004 MIM-RCTC Toll Revenue: -1-15 64986U4H7 VRDN New York State Housing Finance Agency 11/01/2048 07/02/2018 1,400,000.00 1,400,000.00 04/15/2020 1,400,000.00 0.00 3.950 3.950 AA 240907004 MIM-RCTC Toll Revenue: -1-15 196479G29 VRDN Colorado Housing and Finance Authority Inc. 04/01/2040 07/18/2019 1 500 000.00 1 500 000.00 04/15/2020 1 500 000.00 0.00 4.750 4.750 AAA 60,520,427.55 60,735,210.98 60,912,438.38 155,471.09 245 Page 26 of 45 OFRIVERSIDE COUNTY TRANSPORTATION COMMISSION 2017 Financing STAMP Portfolio by Account for quarter ended March 31, 2020 ATTACHMENT 10 240907004 MIM-RCTC Toll Revenue: -1-15 31346VDW5 Agency 240907004 MIM-RCTC Toll Revenue: -1-15 38374VGF0 Agency CMO 240907004 MIM-RCTC Toll Revenue: -1-15 31416BTW8 Agency MBS 240907004 MIM-RCTC Toll Revenue: -1-15 240907004 MIM-RCTC Toll Revenue: -1-15 240907004 MIM-RCTC Toll Revenue: -1-15 240907004 MIM-RCTC Toll Revenue: -1-15 3137B7YX1 Agency MBS 3137F1XN4 Agency MBS 3137FQX63 Agency MBS 17305EFM2 Asset Backed FEDERAL HOME LOAN MORTGAGE CORPORA Government National Mortgage Association Federal National Mortgage Association Freddie Mac Freddie Mac Freddie Mac Citibank Credit Card Issuance Trust - 2014-Al 08/26/2021 12/16/2037 01/01/2024 02/21/2020 02/20/2020 09/03/2019 04/25/2023 08/19/2019 02/25/2023 08/27/2019 07/25/2024 01/16/2020 01/23/2023 12/11/2019 675,000.00 457,845.96 340 075.53 482,337.35 54,784.63 1,000,000.00 500 000.00 675,000.00 05/26/2020 460 135.19 --- 354 741.30 488,441.94 54,733.27 1,000,000.00 505 531.67 675,560.25 461 971.15 359 378.22 494,386.14 53,755.22 999,260.00 504 345.00 560.25 2 011.07 7 009.37 1.550 1.341 4.500 0.443 5.500 0.104 7,102.72 2.592 0.766 (647.92) 1.912 4.306 (740.00) 2.002 1.365 304.92 2.880 1.781 AAA AAA AAA AAA AAA AAA AAA 240907004 MIM-RCTC Toll Revenue: -1-15 240907004 MIM-RCTC Toll Revenue: -1-15 240907004 MIM-RCTC Toll Revenue: -1-15 87165LBB6 Asset Backed 02005AGP7 Asset Backed 65478DAD9 Asset Backed Synchrony Credit Card Master Note Trust 2016-2 Ally Master Owner Trust, Series 2018-1 Nissan Auto Receivables 2018-A Owner Trust 05/17/2021 08/02/2019 01/15/2021 11/18/2019 05/16/2022 06/29/2018 525,000.00 175,000.00 462 570.91 526,271.48 176,374.02 460 185.78 523,582.50 172,149.25 464 129.78 (2,227.41) 2.210 2.459 (3,766.15) 2.700 4.839 2 230.91 2.650 2.050 AAA AAA AAA 240907004 MIM-RCTC Toll Revenue: -1-15 240907004 MIM-RCTC Toll Revenue: -1-15 240907004 MIM-RCTC Toll Revenue: -1-15 240907004 MIM-RCTC Toll Revenue: -1-15 240907004 MIM-RCTC Toll Revenue: -1-15 38013FAD3 Asset Backed 47789JAB2 Asset Backed 65478LAB5 Asset Backed 477870AB5 Asset Backed 14315PAB1 Asset Backed GM Financial Consumer Automobile Receivables Trust 2018-4 John Deere Owner Trust 2019 Nissan Auto Lease Trust 2019-B John Deere Owner Trust 2019-B Carmac Auto Owner Trust 2019-3 10/16/2023 07/24/2019 10/15/2021 03/05/2019 10/15/2021 07/16/2019 05/16/2022 07/16/2019 12/15/2022 07/24/2019 350,000.00 305,153.35 240 078.18 288,232.15 355 808.67 356,412.11 305,139.43 240 057.18 288,231.05 355 792.69 354,543.00 305,962.00 239 965.35 288,635.67 356 840.51 823.78 3.210 1.821 813.60 2.850 2.152 (104.09) 2.270 2.378 403.74 2.280 1.996 1 040.31 2.210 1.747 AAA AAA AAA AAA AAA 240907004 MIM-RCTC Toll Revenue: -1-15 240907004 MIM-RCTC Toll Revenue: -1-15 240907004 MIM-RCTC Toll Revenue: -1-15 240907004 MIM-RCTC Toll Revenue: -1-15 240907004 MIM-RCTC Toll Revenue: -1-15 240907004 MIM-RCTC Toll Revenue: -1-15 240907004 MIM-RCTC Toll Revenue: -1-15 240907004 MIM-RCTC Toll Revenue: -1-15 240907004 MIM-RCTC Toll Revenue: -1-15 240907004 MIM-RCTC Toll Revenue: -1-15 240907004 MIM-RCTC Toll Revenue: -1-15 240907004 MIM-RCTC Toll Revenue: -1-15 240907004 MIM-RCTC Toll Revenue: -1-15 240907004 MIM-RCTC Toll Revenue: -1-15 240907004 MIM-RCTC Toll Revenue: -1-15 240907004 MIM-RCTC Toll Revenue: -1-15 240907004 MIM-RCTC Toll Revenue: -1-15 240907004 MIM-RCTC Toll Revenue: -1-15 240907004 MIM-RCTC Toll Revenue: -1-15 240907004 MIM-RCTC Toll Revenue: -1-15 240907004 MIM-RCTC Toll Revenue: -1-15 240907004 MIM-RCTC Toll Revenue: -1-15 240907004 MIM-RCTC Toll Revenue: -1-15 240907004 MIM-RCTC Toll Revenue: -1-15 240907004 MIM-RCTC Toll Revenue: -1-15 240907004 MIM-RCTC Toll Revenue: -1-15 240907004 MIM-RCTC Toll Revenue: -1-15 26209AAE1 Asset Backed 65602VXS0 CD 62888VAA6 CMO 62888UAB6 CMO 46625HHZ6 Corporate 060516FN4 Corporate 31677QBG3 Corporate 17401QAK7 Corporate 69353RFU7 Corporate 50000DDD5 CP 233366D65 CP 695111D10 CP 14918ED16 CP 31846V203 MM Fund 048506DN6 Muni 072024WU2 Muni 59447TXK4 Muni 4590586K3 Non -US Gov 45818WCP9 Non -US Gov 912828VV9 US Gov 912828B58 US Gov 912828Y53 US Gov 9128285H9 US Gov 912796TS8 US Gov 9127961T6 US Gov 912796TV1 US Gov 9127962A6 US Gov Drive Auto Receivables Trust 2019-4 Norinchukin Bank NY Branch NCUA Guaranteed Notes Trust 2010-R1 NCUA Guaranteed Notes Trust 2010-R2 JPMorgan Chase & Co. Bank of America Corporation Fifth Third Bank Citizens Bank of Pennsylvania Inc. PNC Bank, National Association KOCH INDUSTRIES INC DTE Electric Company Paci6Corp CommonSpirit Health First American Funds, Inc. - Government Obligations Fund Atlantic County Improvement Authority Bay Area Toll Authority Michigan Finance Authority International Bank for Reconstruction and Development Inter -American Development Bank United States Department of The Treasury United States Department of The Treasury United States Department of The Treasury United States Department of The Treasury United States Department of The Treasury United States Department of The Treasury United States Department of The Treasury United States 01/16/2024 09/09/2019 04/17/2020 01/21/2020 10/07/2020 01/22/2019 11/05/2020 03/15/2019 05/10/2021 01/10/2020 04/21/2020 12/04/2017 06/14/2021 07/23/2019 05/26/2020 03/11/2020 02/24/2023 02/20/2020 04/13/2020 03/26/2020 04/06/2020 03/26/2020 04/01/2020 03/25/2020 04/01/2020 03/30/2020 03/31/2020 06/17/2020 07/05/2019 04/01/2020 09/20/2019 12/01/2020 12/05/2019 08/21/2020 260 000.00 650,000.00 262 445.76 206 179.01 1,000,000.00 1 000 000.00 500 000.00 1,500,000.00 535,000.00 1,500,000.00 1,500,000.00 1 500 000.00 1,000,000.00 0.00 265 000.00 425,000.00 255,000.00 - 1 510 000.00 09/16/2022 09/10/2019 08/31/2020 01/24/2020 01/31/2021 12/24/2019 07/31/2020 1,500,000.00 500,000.00 3 500 000.00 - 6,000,000.00 10/31/2020 12/06/2018 04/30/2020 02/12/2020 05/07/2020 01/23/2020 05/14/2020 02/10/2020 04/07/2020 02/06/2020 5,300,000.00 2 500 000.00 2,000,000.00 3,000,000.00 3 700 000.00 259 964.59 649,999.47 262 538.03 206 485.06 1,035,920.00 997 850.00 500 110.00 05/14/2021 1,501,725.00 255 541.00 650,344.50 262 280.42 206 201.69 1,027,680.00 999 840.00 500 465.00 - 1,490,025.00 535,000.00 02/24/2022 1,498,425.00 1,498,556.25 1 499 052.08 999,783.33 105,302.57 267 210.10 425,000.00 255,000.00 1 510 367.00 1,500,000.00 501,621.09 3 517 636.72 6,000,750.60 5,299,852.27 2 491 738.54 1,991,316.00 2,988,245.82 3 691 096.17 504,237.50 - 1,499,400.00 1,499,745.00 - 1 500 000.00 1,000,000.00 105,302.57 266 012.30 425,000.00 256,366.80 1 510 453.00 1,499,460.00 504,160.00 3 560 445.00 - 5,999,880.00 5,299,205.00 - 2 499 900.00 1,999,880.00 - 2,999,730.00 3 699 963.00 (4432.11) 2.230 3.317 344.60 1.740 0.615 (193.07) 2.116 1.390 (89.08) 2.136 1.008 (2,470.57) 4.625 2.084 (109.73) 2.250 2.513 391.19 2.250 2.165 (11,257.09) 2.217 6.521 (30,762.50) 2.004 3.874 450.00 0.000 1.108 401.25 0.000 1.020 0.00 0.000 0.000 0.00 0.000 0.000 0.00 0.080 0.100 517.60 3.250 1.422 0.00 2.025 0.000 1,366.80 2.034 1.223 378.56 0.230 0.157 (540.00) 0.670 0.695 3,023.42 2.125 0.123 46 900.61 2.125 0.056 (154.95) 0.128 0.136 (749.66) 0.130 0.158 3011.46 0.000 0.049 2,886.00 0.000 0.059 5,284.17 0.000 0.075 916.98 0.000 0.052 AA AAA AAA AAA A A A A A AAA AAA AA NA AAA NA AA AA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA 240907004 MIM-RCTC Toll Revenue: -1-15 240907004 MIM-RCTC Toll Revenue: -1-15 240907004 MIM-RCTC Toll Revenue: -1-15 97689P2K3 VRDN 64986U4H7 VRDN 196479629 VRDN Wisconsin Housing and Economic Development Authority New York State Housing Finance Agency Colorado Housing and Finance Authority Inc. 09/01/2037 07/18/2019 11/01/2048 07/02/2018 04/01/2040 07/18/2019 1 300 000.00 1,400,000.00 1 500 000.00 52 280 511.49 1 300 000.00 04/30/2020 1,400,000.00 04/15/2020 1 500 000.00 04/15/2020 52 437 592.79 1 300 000.00 1,400,000.00 1 500 000.00 52 475 981.81 0.00 4.000 4.000 0.00 3.950 3.950 0.00 4.750 4.750 29 928.97 AA AA AAA 240907020 RCTC I-15 PO RAMP UP RESERVE 3137EADB2 Agency 240907020 RCTC I-15 Pa) RAMP UP RESERVE 3130AEC17 Agency 240907020 RCTC I-15 Pg RAMP UP RESERVE 38377REV3 Agency CMO 240907020 RCTC I-15 Pa) RAMP UP RESERVE 3137AH6C7 Agency CMO 240907020 RCTC I-15 PO RAMP UP RESERVE 38376V2E6 AgencyCMO 240907020 RCTC I-15 Pa) RAMP UP RESERVE 3137AJMF8 Agency CMO 240907020 RCTC I-15 PO RAMP UP RESERVE 38375XCM4 AgencyCMO 240907020 RCTC I-15 Pa) RAMP UP RESERVE 383742C76 Agency CMO 240907020 RCTC I-15 PO RAMP UP RESERVE 38378BXQ7 AgencyCMO 240907020 RCTC I-15 Pa) RAMP UP RESERVE 38376YPU9 Agency CMO 240907020 RCTC I-15 Pr RAMP UP RESERVE 3137ATRW4 AgencyCMO 240907020 RCTC I-15 Pa) RAMP UP RESERVE 3137ASR97 Agency CMO 240907020 RCTC I-15 Pg RAMP UP RESERVE 3136A72D3 Agency CMO 240907020 RCTC I-15 Pa) RAMP UP RESERVE 3137AYCE9 Agency CMO 240907020 RCTC I-15 PO RAMP UP RESERVE 31397QWZ7 AgencyCMO 240907020 RCTC I-15 Pa) RAMP UP RESERVE 38378161H4 Agency CMO 240907020 RCTC I-15 PO RAMP UP RESERVE 31392J6N4 AgencyCMO 240907020 RCTC I-15 Pa) RAMP UP RESERVE 3137B84S3 Agency CMO 240907020 RCTC I-15 PO RAMP UP RESERVE 3137A5FP4 AgencyCMO 240907020 RCTC I-15 Pa) RAMP UP RESERVE 31398N2K9 Agency CMO 240907020 RCTC I-15 PO RAMP UP RESERVE 38378JZD7 AgencyCMO 240907020 RCTC I-15 Pa) RAMP UP RESERVE 38377QKH9 Agency CMO 240907020 RCTC I-15 Pg RAMP UP RESERVE 38378CDK0 Agency CMO 240907020 RCTC I-15 Pa) RAMP UP RESERVE 38378AWX5 Agency CMO 240907020 RCTC I-15 Pg RAMP UP RESERVE 38378DDC6 Agency CMO 240907020 RCTC I-15 Pa) RAMP UP RESERVE 38379HLE3 Agency CMO 240907020 RCTC I-15 PO RAMP UP RESERVE 38378VC45 AgencyCMO 240907020 RCTC I-15 Pa) RAMP UP RESERVE 383771M59 Agency CMO Freddie Mac Federal Home Loan Banks Government National Mortgage Association Freddie Mac Government National Mortgage Association Freddie Mac Government National Mortgage Association Government National Mortgage Association Government National Mortgage Association Government National Mortgage Association Freddie Mac Freddie Mac Federal National Mortgage Association Freddie Mac Federal National Mortgage Association Government National Mortgage Association Federal National Mortgage Association Freddie Mac Freddie Mac Federal National Mortgage Association Government National Mortgage Association Government National Mortgage Association Government National Mortgage Association Government National Mortgage Association Government National Mortgage Association Government National Mortgage Association Government National Mortgage Association Government National Mortgage Association 01/13/2022 09/30/2019 05/28/2020 07/03/2018 10/20/2039 07/01/2019 07/25/2021 11/29/2018 07/16/2039 08/06/2019 10/25/2021 11/29/2018 11/16/2037 05/14/2019 08/16/2037 01/31/2018 01/16/2036 06/17/2019 12/20/2038 05/10/2019 05/25/2022 09/26/2018 01/25/2022 02/27/2018 04/25/2022 07/26/2019 10/25/2022 08/13/2019 09/25/2029 09/28/2018 09/16/2027 03/08/2019 04/25/2023 12/05/2017 02/15/2029 01/31/2018 01/15/2021 01/30/2018 11/25/2025 01/31/2018 12/20/2040 10/16/2019 08/20/2040 08/20/2019 03/20/2035 01/30/2018 01/20/2036 01/30/2018 04/20/2038 06/20/2018 05/20/2043 10/18/2018 400 000.00 350 000.00 30,827.70 95 267.99 20 672.74 93,513.84 56997.76 6,144.61 16549.89 100 000.00 13808.81 100 000.00 15,012.90 6209.75 293,088.62 78,645.47 36,892.62 0.42 16,144.67 19,606.34 20,763.19 64722.68 15,441.96 45,119.41 406 425.20 350 150.50 31,439.44 93,203.35 58422.70 6,083.16 16436.11 102 164.06 15,144.27 318,84530 77,662.40 36,984.86 0.42 15,942.87 19,962.48 20,954.60 65349.68 15,546.31 45,055.96 32,046.94 22026.60 95,886.28 23773.14 59011.49 6,121.50 16665.91 13768.56 15,072.65 306,963.44 79,859.75 37,277.78 691.94 3.500 0.915 580.91 4.000 0.768 2,625.39 2.968 0.968 980.23 4.000 2.028 (0.06) 1.537 3.263 196.59 2.500 1.040 3719.24 2.373 1.263 166.34 142.71 1.573 1.154 63.39 4.000 0.614 340.60 1,890.01 1.250 0.807 2.000 0.988 373.60 2.500 0.697 0.42 0.00 3.500 0.000 16,343.89 20,589.01 20,828.60 65427.50 15,492.30 46,590.75 388.16 1.500 0.733 639.79 3.000 0.894 56.79 3.000 0.508 538.44 3.000 0.595 51.10 3.500 0.557 1,541.31 3.500 0.158 AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA 240907020 RCTC 1-15 Pri RAMP UP RESERVE 3137ARBX3 Agency CM0 Fr.ldie Mac 246 27174.75 Page 27 of 45 INFRIVERSIDE COUNTY TRANSPORTATION COMMISSION 2017 Financing STAMP Portfolio by Account for quarter ended March 31, 2020 Source Security Type Next Can Base Net Total Summarize 240907020 240907020 240907020 240907020 240907020 RCTC I-15 Pri RAMP UP RESERVE RCTC I-15 Pr. RAMP UP RESERVE RCTC I-15 Pti RAMP UP RESERVE RCTC I-15 Pri RAMP UP RESERVE RCTC I-15 Pti RAMP UP RESERVE 38376YFF3 38379JM99 38374VGF0 31283K5N4 3620A9WV9 Agency CMO Agency CMO Agency CMO Agency MBS Agency MBS 240907020 RCTC I-15 Pri RAMP UP RESERVE 3138NJAE8 Agency MBS 240907020 RCTC I-15 Pti RAMP UP RESERVE 31381RLL6 Agency MBS 240907020 RCTC I-15 Pri RAMP UP RESERVE 31381SV18 Agency MBS 240907020 RCTC I-15 Pti RAMP UP RESERVE 36202F2H8 Agency MBS 240907020 RCTC I-15 Pri RAMP UP RESERVE 36178NB99 Agency MBS 240907020 RCTC I-15 Pti RAMP UP RESERVE 3136AC714 Agency MBS 240907020 RCTC I-15 Pri RAMP UP RESERVE 31418AU48 Agency MBS 240907020 RCTC I-15 Pti RAMP UP RESERVE 3137B1U75 Agency MBS 240907020 RCTC I-15 Pri RAMP UP RESERVE 38378KWU9 Agency MBS 240907020 RCTC I-15 Pti RAMP UP RESERVE 3137B3NW4 Agency MBS 240907020 RCTC I-15 Pri RAMP UP RESERVE 38378KW47 Agency MBS 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137AXHN6 Agency MBS 240907020 RCTC I-15 Pri RAMP UP RESERVE 3136AMM48 Agency MBS 240907020 RCTC I-15 Pti RAMP UP RESERVE 36179M416 Agency MBS 240907020 RCTC I-15 Pri RAMP UP RESERVE 36202FA30 Agency MBS 240907020 RCTC I-15 Pti RAMP UP RESERVE 3137B1UF7 Agency MBS 240907020 RCTC I-15 Pri RAMP UP RESERVE 3137BQBY2 Agency MBS 240907020 RCTC I-15 Pti RAMP UP RESERVE 3138E1PZ5 Agency MBS 240907020 RCTC I-15 Pri RAMP UP RESERVE 3620ARB67 Agency MBS 240907020 RCTC I-15 Pti RAMP UP RESERVE 31418CQM9 Agency MBS 240907020 RCTC I-15 Pri RAMP UP RESERVE 3140J6DU8 Agency MBS 240907020 RCTC I-15 Pti RAMP UP RESERVE 3138L2GH4 Agency MBS 240907020 RCTC I-15 Pri RAMP UP RESERVE 3136A96F0 Agency MBS 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137FGZN8 Agency MBS 240907020 RCTC I-15 Pri RAMP UP RESERVE 31381QB54 Agency MBS 240907020 RCTC I-15 Prj RAMP UP RESERVE 3132CJA12 Agency MBS 240907020 RCTC I-15 Pri RAMP UP RESERVE 36179NHK7 Agency MBS 240907020 RCTC I-15 Prj RAMP UP RESERVE 62888VAA6 CMO 240907020 RCTC I-15 Pri RAMP UP RESERVE CCYUSD Currency 240907020 RCTC I-15 Prj RAMP UP RESERVE 31846V203 MM Fund 240907020 RCTC I-15 Pri RAMP UP RESERVE 912828UH1 TIPS 240907020 RCTC I-15 Prj RAMP UP RESERVE 9128286N5 TIPS 240907020 RCTC I-15 Pri RAMP UP RESERVE 912828VA5 US Gov 240907020 RCTC I-15 Prj RAMP UP RESERVE 912828VV9 US Gov 240907020 RCTC I-15 Pri RAMP UP RESERVE 912828B58 US Gov 240907020 RCTC I-15 Prj RAMP UP RESERVE 912828143 US Gov 240907020 RCTC I-15 Pri RAMP UP RESERVE 912828L57 US Gov 240907020 RCTC I-15 Prj RAMP UP RESERVE 912828T67 US Gov 240907020 RCTC I-15 Pri RAMP UP RESERVE 912828Y53 US Gov 240907020 RCTC I-15 Prj RAMP UP RESERVE 9128285H9 US Gov 240907020 RCTC I-15 Pri RAMP UP RESERVE 9128286U9 US Gov 240907020 RCTC I-15 Prj RAMP UP RESERVE 912828YK0 US Gov Government National Mortgage Association Government National Mortgage Association Government National Mortgage Association Freddie Mac Government National Mortgage Association Federal National Mortgage Association Federal National Mortgage Association Federal National Mortgage Association Government National Mortgage Association Government National Mortgage Association Federal National Mortgage Association Federal National Mortgage Association Freddie Mac Government National Mortgage Association Freddie Mac Government National Mortgage Association Freddie Mac Federal National Mortgage Association Government National Mortgage Association Government National Mortgage Association Freddie Mac Freddie Mac Federal National Mortgage Association Government National Mortgage Association Federal National Mortgage Association Federal National Mortgage Association Federal National Mortgage Association Federal National Mortgage Association Freddie Mac Federal National Mortgage Association Freddie Mac Government National Mortgage Association NCUA Guaranteed Notes Trust 2010-RI UNITED STATES OF AMERICA First American Funds, Inc. - Government Obligations Fund United States Department of The Treasury United States Department ofTho Treasury United States Department of The Treasury United States Department ofTho Treasury United States Department of The Treasury United States Department ofTho Treasury United States Department of The Treasury United States Department ofTho Treasury United States Department of The Treasury United States Department ofTho Treasury United States Department of The Treasury United States Department ofTho Treasury 03/20/2039 06/03/2019 5,422.07 5,462.74 --- 5 496.03 02/16/2041 08/28/2019 19974.37 20103.11 --- 20,703.63 12/16/2037 02/20/2020 76,307.66 76689.20 --- 76995.19 08/01/2020 12/05/2017 58,133.54 59442.94 --- 61015.22 12/15/2024 05/23/2018 9.677.85 9.889.56 -- 10.268.40 12/01/2020 09/13/2018 07/01/2021 11/02/2018 11/01/2021 02/22/2019 01/20/2027 12/12/2019 08/15/2027 10/11/2019 03/25/2023 02/21/2018 07/01/2023 05/21/2019 01/25/2023 02/27/2018 11/16/2041 05/03/2019 09/25/2022 09/26/2018 08/16/2035 06/13/2019 02/25/2022 01/25/2018 07/25/2022 09/26/2018 03/20/2028 11/20/2019 09/20/2024 10/23/2019 09/25/2022 01/25/2018 03/25/2022 08/16/2019 07/01/2022 07/22/2019 05/15/2025 05/23/2018 10/01/2027 09/11/2019 08/01/2031 07/26/2019 07/01/2021 07/26/2019 11/25/2022 02/27/2018 02/25/2023 06/18/2019 03/01/2021 11/07/2018 09/01/2029 01/28/2020 07/20/2028 03/31/2020 10/07/2020 05/10/2019 03/31/2020 03/31/2020 01/15/2023 02/05/2018 04/15/2024 04/30/2020 08/31/2020 01/31/2021 20,157.84 44 750.13 41,937.54 31,097.33 35 156.90 32,465.54 0.00 115 182.91 35,260.79 69 178.04 41 91921 46,513.69 80 632.80 29 218.95 16,035.81 25 311.62 60 556.70 24,475.23 20,847.95 20,303.88 73,238.12 21 314.13 53,290.05 23,941.69 55 441.02 42,433.14 132,661.46 0.01 0.00 0.00 83 811.00 - 163,635.20 665,000.00 - 775 000.00 02/28/2022 12/30/2019 09/30/2022 10/31/2021 12/09/2019 07/31/2020 10/31/2020 12/06/2018 05/15/2022 02/13/2020 10/15/2022 550,000.00 40,000.00 705 000.00 165 000.00 725,000.00 500 000.00 20,390.92 45 414.40 42,147.23 31,865.05 35 546.93 31,931.64 0.00 113 230.21 33,079.03 68 583.54 41 683.42 45,874.13 79 427.78 29 570.49 16,707.32 24 939.85 60 947.01 24,921.71 21,343.10 20,820.99 73,730.19 21 199.24 51,651.80 23,930.46 56 588.82 43,636.53 138,382.49 0.01 (138,611.72) 185,725.88 82 740.39 166,513.53 648,627.54 766 685.54 547,430.08 40,148.44 707 360.16 163 730.27 724,879.95 499 986.06 20,145.34 45 675.11 42,962.91 32,409.33 36 584.97 33,432.36 (0.00) 118 805.42 34,804.52 70 716.56 41 917.95 46,886.73 81 918.09 30 323.72 17,048.15 25 531.07 61 853.22 25,458.15 21,920.16 21,259.58 76,028.50 21 520.24 54,274.32 23,500.92 56 203.89 44,467.81 138,611.33 53.46 615.68 335.18 2 470.39 457.03 4.000 0.890 2.500 0.385 4.500 0.443 5.000 -24.300 4.000 -0.120 (104.09) 3.630 3.484 592.82 3.840 1.808 942.46 3.330 1.640 568.29 3.000 1.259 1 050.35 2.500 0.979 1,277.42 2.535 1.582 (0.00) 2.500 0.117 4 750.09 2.522 0.932 1,214.39 1.400 2.010 1968.38 2.778 0.869 151.93 717.93 2.150 1.998 1.749 0.819 1948.42 2.509 1.441 761.47 2.500 1.143 408.13 432.49 4.500 0.579 1.785 0.939 1007.34 2.183 0.878 509.34 3.022 0.763 760.99 4.000 0.609 469.36 3.000 1.148 2,326.66 2.500 1.151 277.23 1.870 0.909 1,862.92 2.184 1.209 (300.44) 1.862 3.640 385.01 816.01 4.410 2.262 3.000 1.134 228.84 3.000 1.409 0.01 0.00 2.116 1.822 (138,611.72) 185,725.88 82 801.08 165,999.73 665,551.95 781 448.00 559,498.50 41,168.80 731 247.15 167 758.80 724,985.50 0.00 0.000 0.000 0.00 0.080 0.100 (402.61) 0.125 0.560 (131.89) 0.500 0.142 1,293.69 1.125 0.117 8157.79 2.125 0.123 9,800.19 2.125 0.056 1,037.12 24 236.31 3822.11 45.83 1.750 0.221 1.750 0.255 1.250 0.191 0.128 0.136 AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA 499925.00 (70.72) 0.130 0.158 AAA 40 000.00 40 606.25 --- 41 604.80 1 029.91 2.125 0.230 AAA - 415,000.00 8 239 916.06 411,599.22 8 297 618.18 426,703.00 14,689.96 1.375 0.261 AAA 8 436 456.56 125 542.12 Total 60,520,427.55 60,735,210.98 60,912,438.38 155,471.09 247 Page 28 of 45 RFRIVERSIDE COUNTY TRANSPORTATION COMMISSION 2017 Financing STAMP Portfolio Transaction Report by Account Quarter ended March 31, 2020 ATTACHMENT 11 Base Base Change In Source Beginning Base Base Maturities and Net Total Realized Amortization/A Net Unrealized Ending Base Ending Accrued Account Account Identifier Description Market Value Base Purchases Base Sales Redemptions Base Pavdowns Gain/Lose cretion Gain/Loss Market Value Income Balance 240907004 MIM-ACTC Toll Aevemre:-I-15 46625HHZ6 7PMORGAN CHASE &CO - 1,035,920.00 - - - - c (5,769.43) (2,470.57) 1,027,680.00 18,114.58 240907004 MIM-RCTC Toll Revenue: -1-15 240907004 MIM-RCTC Toll Revenue: - I-15 912828B58 UNITED STATES TREASURY 3,518,305.00 38141EA58 GOLDMAN SACHS GROUP INC 503,390.00 500 000.00) (4,006.14) 46,146.14 3,560445.00 12,463.94 (3,262.52) (127.48) 240907004 MIM-RCTC Toll Revenue:- I-15 31416BT908 199995265 388,184.80 240907004 MRMI-RCTC Toll Revenue: -I-15 38013FAD3 GMCAR 184 A3 240907004 MIM-RCTC Toll Revenue:- I-15 17305EFM2 CCCIT 14AI Al 240907004 MI[vl-RCTC Toll Revenue: - I-15 048506DN6 ATLANTIC CNTYN I IMPT AUTH REV 240907004 MIM-RCTC Toll Revenue:- I-15 240907004 MBMI-RCTC Toll Revenue: - I-15 3137B7YX1 FHMS K037 Al 912828 V V9 UNITED STATES TREASURY 355,967.50 308,120.15 266,550.25 524,495.94 (46 155.76) (1,817.79) (1,431.42) 5 344,052.13 1,492.21 (965.34) (757.96) (37397.82) 501,621.09 (584.65) (405.36) (487.67) (484.51) (459.16) 288.26 46.70 8,181.05 3,023.42 354,543.00 307,650.45 266,012.30 494,386.14 504.160.00 468.13 1,708.00 6,770.38 1,041.85 923.91 240907004 MIM-RCTC Toll Revenue:- I-15 240907004 MBMI-RCTC Toll Revenue: - I-15 240907004 MIM-RCTC Toll Revenue:- I-15 17305EFM2 CCCIT 14A1 Al 17401QAK7 CITIZENS BANK NA 60710AG71 Mizuho Bank -New York Branch 196,994.85 - - - - (481.16) 180.86 196,694.55 1,092.00 1,501,725.00 - - - - (442.91) (11,257.09) 1,490,025.00 3,232.59 1,500,329.43 - (1,500,000.00) - - (329.43) 240907004 MBMI-RCTC Toll Revenue: - I-15 240907004 MIM-RCTC Toll Revenue:- I-15 240907004 MBMI-RCTC Toll Revenue: - I-15 240907004 MIM-RCTC Toll Revenue:- I-15 240907004 MBMI-RCTC Toll Revenue: - I-15 02005AGP7 AMOT 181 A2 912828Y53 UNITED STATES TREASURY 172967/71 CITIGROUP INC 60710ABM3 Mizuho Bank -New York Branch 61747YDW2 MORGAN STANLEY 176,240.75 3,699,038.00 500,200.00 1,500,255.00 500,165.00 (500,000.00) (1,500,000.00) (500 000.00) (317.10) (225.73) (190.01) (186.05) (179.33) (3,774.40) 172,149.25 1,113.73 3,699,926.00 (9.99) - (68.95) - 14.33 - 210.00 6,675.18 240907004 MIM-RCTC Toll Revenue:- I-15 240907004 MBMI-RCTC Toll Revenue: - I-15 240907004 MIM-RCTC Toll Revenue:- I-15 240907004 MBMI-RCTC Toll Revenue: - I-15 240907004 MIM-RCTC Toll Revenue: - I-15 240907004 MBMI-RCTC Toll Revenue: - I-15 240907004 MIM-RCTC Toll Revenue:- I-15 240907004 MBMI-RCTC Toll Revenue: - I-15 240907004 MIM-RCTC Toll Revenue:- I-15 240907004 MRMI-RCTC Toll Revenue: - I-15 240907004 MIM-RCTC Toll Revenue: - I-15 87165LBB6 SYNCT 162 A 3137F1XN4 FHMS KI03 A 38374VGFO GNR 0945A PD 86564FH48 Sumitomo Mitsui Trust Bank Ltd. (New York Branch) 65602VPF7 Norinchukin Bank NY Branch 89114MY43 Toronto -Dominion Bank, New York Brach 14912L6Y2 CATERPILLAR FINANCIAL SERVICES CORP 31416BTW8 FN995265 62888UAB6 NGN 10R22A 912828Y53 UNITED STATES TREASURY 459058GK3 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 1,500,210.00 1,125,157.50 1,150,149.50 1,000,030.00 17,292.02 222,518.67 449,883.00 500,090.00 527,147.25 - - - - (177.16) (3,387.59) 523,582.50 515.67 67,931.59 - - - (13,189.79) 47.88 (162.85) (871.60) 53,755.22 20.37 531,476.06 - - (70,985.94) (393.55) (136.49) 2,011.07 461,971.15 1,716.92 (1,500,000.00) - - (126.19) (83.82) - - (1,125,000.00) - (107.61) (49.89) - - (1,150,000.00) (96.08) (53.42) (1,000,000.00) - - (82.50) 52.50 - - (2,056.05) (80.97) (63.76) 234.86 15,326.09 66.47 (16,306.27) (11.52) (47.68) 48.49 206,201.69 318.10 (25.01) 133.01 449,991.00 811.85 (24.02) 84.02 500,150.00 613.47 240907004 MIM-RCTC Toll Revenue: - I-15 240907004 MIM-RCTC Toll Revenue:- I-15 240907004 MIM-RCTC Toll Revenue: - I-15 240907004 MIM-RCTC Toll Revenue:- I-15 240907004 MIM-RCTC Toll Revenue: - I-15 31677QBG3 FIFTH THIRD BANK (OHIO) 62888VAA6 NGN IORI IA 459058GK3 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 4590580K3 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 31846V203 FIRSTAMER,GVTOBLGY 502,710.00 - - 306,458.51 - - 300,054.00 - - 185,033.30 - - 336,808.09 43,838,764.21 (44,070269.73) (15.24) (49446.84) (5.93) (14.49) (14.47) (9.21) (2,229.76) 500,465.00 (710.84) 262,280.42 50.47 300,090.00 31.41 185,055.50 105,302.57 3,343.75 401.12 368.08 226.98 240907004 MIM-RCTC Toll Revenue: - I-15 240907004 MIM-RCTC Toll Revenue: - I-15 240907004 MIM-RCTC Toll Revenue: - I-15 97689P2K3 WISCONSIN HSG & ECONOMIC DEV AUTH HOME OWNERSHIP R 196479G29 COLORADO HSG & FIN AUTH 45818WCP9 INTER-AMERICAN DEVELOPMENT BANK 1,300,000.00 1,500,000.00 1,499,460.00 1,300,000.00 1,500,000.00 1.499.460.00 2,910.56 14,821.73 446.69 240907004 MIM-RCTC Toll Revenue: - I-15 240907004 MIM-RCTC Toll Revenue: - I-15 240907004 MIM-RCTC Toll Revenue: - I-15 69353RF07 PNC BANK NA 64986U4H7 NEWYORK ST HSG FIN AGY REV 072024WU2 BAY AREA TOLL AUTH CALIF TOLL BRDG REV 535,000.00 - - - - - (30,762.50) 504,237.50 1,072.27 1,400,000.00 - - - - - - - 1,400,000.00 3,654.15 425,335.75 - - - - - - (335.75) 425,000.00 4,422.66 240907004 MIM-RCTC Toll Revenue: - I-15 240907004 MIM-RCTC Toll Revenue: - I-15 240907004 MIM-RCTC Toll Revenue: - I-15 59447TXK4 MICHIGAN FIN AUTH REV 255,147.90 56052FHZ1 MAINE STHSG AUTH MTG PUR 1,400,000.00 - (1,400,000.00) 3134GVDW5 FEDERAL HOME LOAN MORTGAGE CORP - 675,000.00 1,218.90 256,366.80 1,483.97 560.25 675,560.25 1,017.19 240907004 MIM-RCTC Toll Revenue: - I-15 240907004 MIM-RCTC Toll Revenue: - I-15 240907004 MIM-RCTC Toll Revenue: - I-15 240907004 MIM-RCTC Toll Revenue: - I-15 240907004 MIM-RCTC Toll Revenue: - I-15 459058GK3 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 89114NDX0 Toronto -Dominion Banc, New York Branch 3137FQXG3 FHMS KI05 A 65602VX50 Norinohokin Bank NY Branch 3137B2GW4 FHMS K713 A2 525,094.50 - - - - - 63.00 525,157.50 644.15 1,700,204.00 - - (1,700,000.00) - - - (204.00) - - 1,000,000.00 - - - - - (740.00) 999,260.00 - 649,999.47 - - - - 0.43 344.60 650,344.50 2,356.25 244,968.85 - - - (245,280.35) 507.49 1.42 (197.41) - - 240907004 MIM-RCTC Toll Revenue: - I-15 240907004 MIM-RCTC Toll Revenue: - I-15 '40907004 MIM-RCTC Toll Revenue:- I-15 47789JAB2 MOT2019 A2 14315PAB1 CARMX 193 A2A 477870AB5 MOT 19B A2 450,401.47 - - - (143,789.06) 2.72 1.69 (654.82) 305,962.00 386.53 380,851.20 - - - (24,191.33) 0.59 2.54 177.51 356,840.51 349.48 290,626.40 - - - (1,767.85) 0.05 3.00 (225.93) 288,635.67 292.08 240907004 MIM-RCTC Toll Revenue: - I-15 240907004 MIM-RCTC Toll Revenue: - I-15 240907004 MIM-RCTC Toll Revenue: - I-15 240907004 MIM-RCTC Toll Revenue: - I-15 240907004 MIM-RCTC Toll Revenue: - I-15 65478LAB5 NALT 19B A2A 26209AAE1 DRIVE 194 B 9128285H9 UNITED STATES TREASURY 161571HJ6 CHAFE 171 A 04830GC59 Atlantic City Electric Company 260,475.80 260,098.80 5,297,456.00 500,065.00 1,499,943.75 (1,500,000.00) (19,921.81) 0.80 3.39 4.11 19.37 (500,000.00) - 54.52 56.25 (592.84) (4,561.91) 1,729.63 (119.52) 239,965.35 255,541.00 5,299,205.00 242.21 257.69 9,579.70 240907004 MIM-RCTC Toll Revenue: -I-15 912828Y53 UNITED STATES TREASURY I, 99,6 6.00 - - - - - 101.55 234.45 1,399,972.00 2,525.74 240907004 MIM-RCTC Toll Revenue:-I-15 780082AA1 ROYALBANK OF CANADA 1,499,790.00 - - (1,500,000.00) - - 101.61 108.39 - - 240907004 MIM-RCTC Toll Revenue: -I-15 711121B37 The Peoples Gas Light and Coke Company - 799,890.67 - (800,000.00) - - 1 33 - - - 240907004 MIM-RCTC Toll Revenue: -I-15 05522RCW6 BACCT 171 A 750,075.00 - - - (750,000.00) 1.98 121.08 (198.06) - - 240907004 MIM-RCTC Toll Revenue: -I-15 912828Y53 UNITED STATES TREASURY 449,883 - - - - - 122.91 (14.91) 449,991.00 811.85 240907004 MIM-RCTC Toll Revenue:-I-15 65478DAD9 NAROTI8A A3 591,900.79 - - - (126,801.46) 205.04 148.80 (1,323.39) 464,129.78 544.81 240907004 MIM-RCTC Toll Revenue: -I-15 13668LCCI Canadian Tire Corpora6oq nnited - 923,784.40 - (924,000.00) - - 215.60 - - - 240907004 MIM-RCTC Toll Revenue: -I-15 14918ED16 CommonSpirit Health - 999,783.33 - - - - 216.67 - 1,000,000.00 - 240907004 MIM-RCTC Toll Revenue: -I-15 060510FN4 BANK OF AMERICA CORP 1,000,940.00 - - - - - 228.71 (1,328.71) 999,840.00 10,000.00 240907004 MIM-RCTC Toll Revenue: -I-15 313384AV3 FEDERAL HOME LOAN BANKS - 1,199,750.00 - (1,200,000.00) - - 250.00 - - - 240907004 MIM-RCTC Toll Revenue:-I-15 97665RA85 Wisco rain Electric Power Company 724,804.25 - - (725,000.00) - - 260.80 (65.05) - - 240907004 MIM-RCTC Toll Revenue: -I-15 50000DCQ7 Koch Inlustries, Inc. - 599,731.67 - (600,000.00) - - 268.33 - - - 240907004 MIM-RCTC Toll Revenue: -I-15 63743CBA0 NatioralRuml Utilities Cooperative Fvance Corpo - 699,692.78 - (700,000.00) - - 307.22 - - - 240907004 MIM-RCTC Toll Revenue:-I-15 78009ACG7 Royal Bank ofCanada - 999,691.67 - (1,000,000.00) - - 308.33 - - - 240907004 MIM-RCTC Toll Revenue: - I-15 07274LAE7 Bayerische Landesbanr, New York Branch - 999,679.17 - (1,000,000.00) - - 320.83 - - - 240907004 MIM-RCTC Toll Revenue:-I-15 64587AA79 New Jersey Natural Gas Company 1,249,725.00 - - (1,250,000.00) - - 354.16 (79.16) - - 240907004 MIM-RCTC Toll Revenue: -I-15 46640PCQ4 J.P. Morgan Securities LLC - 1,049,642.71 - (1,050,000.00) - - 357.29 - - - 240907004 MIM-RCTC Toll Revenue: -I-15 34108AA72 Florida Power & Light Company 1,399,692.00 - - (1,400,000.00) - - 399.00 (91.00) - - 240907004 MIM-RCTC Toll Revenue: -I-15 40248CB34 Gulf Power Company - 299,560.83 - (300,000.00) - - 439.17 - - - 240907004 MIM-RCTC Toll Revenue: -I-15 695111BR5 PacifrCorp - 1,499,507.09 - (1,500,000.00) - - 492.91 - - - 240907004 MIM-RCTC Toll Revenue: -I-15 50000DDD5 KOCH INDUSTRIES INC - 1,498,425.00 - - - - 525.00 450.00 1,499,400.00 - 240907004 MIM-RCTC Toll Revenue: -I-15 14912DAG4 Caterpillar Financial Services Corporation - 1,499,473.34 - (1,500,000.00) - - 526.66 - - - 240907004 MIM-RCTC Toll Revenue: -I-15 50000DAD8 Koch Indus tries, Inc. 999,510.00 - - (1,000,000.00) - - 536.67 (46.67) - - 240907004 MIM-RCTC Toll Revenue: -I-15 695111AQ8 PacifrCorp - 1,299,437.75 - (1,300,000.00) - - 562.25 - - - 240907004 MIM-RCTC Toll Revenue: -I-15 976840A08 co in Public Service Corpora no - 1,499,388.75 - (1,500,000.00) - - 611.25 - - - 240907004 MIM-RCTC Toll Revenue: -I-15 74456CA98 Public Service Electric and Gas Company 1,499,535.00 - - (1,500,000.00) - - 680.00 (215.00) - - 240907004 MIM-RCTC Toll Revenue:-I-15 29878RAA6 Europeunhrvestmer0 Bank 1,499,460.00 - - (1,500,00000) - - 690.00 (150.00) - - 240907004 MIM-RCTC Toll Revenue:-I-15 02587AAJ3 AMXCA 171 A 649,967.50 - - - (650,000.00) 49.10 735.13 (751.72) - - 240907004 MIM-RCTC Toll Revenue: -I-15 26055ACW4 The Dow Chemical Company - 799,253.33 - (800000.00) - - 746.67 - - - 240907004 MIM-RCTC Toll Revenue: -I-15 23336GD65 DTE Electric Company - 1,498,556.25 - - - - 787.50 401.25 1,499,745.00 - 240907004 MIM-RCTC Toll Revenue: -I-15 69372AAE2 PACCAR Financial Corp. 1,399,244.00 248 - - (1,400000D0) - - 824.06 (68.06) - - Page 29 of 45 IMFRIVERSIDE COUNTY TRANSPORTATION COMMISSION Account 240907004 MIM-RCTC Toll Revenue: - I-15 240907004 MIM-RCTC Toll Revenue:- I-15 240907004 MRMI-RCTC Toll Revenue: - I-15 240907004 MIM-RCTC Toll Revenue:- I-15 240907004 MRMI-RCTC Toll Reveme: - I-15 240907004 MIM-RCTC Toll Revenue:- I-15 240907004 MRMI-RCTC Toll Reveme: - I-15 240907004 MIM-RCTC Toll Revenue: - I-15 240907004 MRMI-RCTC Toll Reveme: - I-15 240907004 MIM-RCTC Toll Revenue: - I-15 240907004 Mltvl-RCTC Toll Reveme: - I-15 240907004 MIM-RCTC Toll Revenue: - I-15 240907004 Mltvl-RCTC Toll Reveme: - I-15 240907004 MIM-RCTC Toll Revenue: - I-15 240907004 Mltvl-RCTC Toll Reveme: - I-15 240907004 MIM-RCTC Toll Revenue: - I-15 240907004 Mltvl-RCTC Toll Reveme: - I-15 240907004 MIM-RCTC Toll Revenue: - I-15 240907004 MRMI-RCTC Toll Reveme: - I-15 240907004 MIM-RCTC Toll Revenue: - I-15 Identifier Descriution 69372ABD3 PACCARFinaocial Corp. 40248CC41 Gulf Power Company 66522TAQ9 Northern Illinois Gas Compaq 695111/310 PacifiCorp 63743CAE3 National Rural Utilities Cooperative Finance Co po 30215GAX0 Export Development Canada 23336GCS8 DTE Electric Compaq 30229AAH2 Exxon Mobil Corporation 63743CAG8 National Rural Utilities Cooperative Finance Corpo 43357LC91 Hitachi Capital America Corp. 13668LC64 Canadian Tire Corporation, Limited 50000DB62 Koch Industries, Inc. 5148X0BB0 Landesbank Baden-Wurttemberg, New York Branch 22533TB14 Credit Agricole Corporate And hrvestrnent Bank, New 04056AB76 Arizona Public Service Compaq 638731BD1 Nativis, New York Branch 23336GBD2 DTE Electric Compaq 90655JBL0 Union Electric Compaq 912796WS4 UNITED STATES TREASURY 912796TS8 UNITED STATES TREASURY 2017 Financing STAMP Portfolio Transaction Report by Account Quarter ended March 31, 2020 Beginning Base Market Value 1,499,190.00 Base Base Change In Base Maturities and Net Total Realized Amortization/A Net Unrealized Rase Purchases Base Sales Redemptions Base Pavdowns Gain/Loss ccretion Gain/Loss 699,090.00 1,499,073.75 1,499,066.67 1,499,052.08 1,499,031.25 1,499,000.00 1,399,062.00 - 1,499,055.00 - 873,843.06 (700,000.00) (1,500,000.00) (1,500,000.00) (1,500,000.00) (1,500,000.00) (1,500,000.00) (1,400 000.00) (1,500000.00) (875,000.00) 1,498,760.42 - (1,500,000.00) 1,498,626.26 - (1,500,000.00) 1,498,281.25 - (1,500,000.00) 1,498,266.67 - (1,500,000.00) 1,497,737.50 - (1,500,000.00) 1,497,662.51 - (1,500,000.00) 1,497,593.75 - (1,500,000.00) 1,497,404.17 - (1,500,000.00) 4,644,605.72 (1,599,210.93) (3,050,000.00) 2,491,738.54 - - 910.00 926.25 933.33 947.92 958.75 968.75 Ending Base Ending Accrued Market Value Income Balance 1,500,000.00 (148:75) 1,000.00 1,026.67 (88.67) 1,075.00 (130.00) 1,156.94 1,239.58 1,373.74 1,718.75 1,733.33 2,262.50 2,337.49 2,406.25 2,595.83 6.40 4,598.81 - - - 5,150.00 3,011.46 2,499,900.00 240907004 MRMI-RCTC Toll Reveme: - I-15 240907004 MIM-RCTC Toll Revenue: - I-15 140907004 MRMI-RCTC Toll Reveme: - I-15 912796TT6 UNITED STATES TREASURY 912796TV I UNITED STATES TREASURY 9127962A6 UNITED STATES TREASURY 1,991,316.00 - - - - 5,678.00 2,886.00 1,999,880.00 2,988,245.82 - - - - 6,200.01 5,284.17 2,999,730.00 3,990,374.24 (299,441.90) - - (3.76) 8,117.44 916.98 3,699,963.00 57,831,035.87 108,593,797.41 (47,368,922.56) (63,949,000.00) (2,691,290.33) (1,896.83) 46,607.42 15,650.84 52,475,981.81 120,415.25 240907020 RCTC I-15 P9 RAMP UP RESERVE 3139216N4 FNR 0323B EQ 240907020 RCTC I-15 P) RAMP UP RESERVE 3137EADB2 FREDDIE MAC 240907020 RCTC I-15 P9 RAMP UP RESERVE 31283K5N4 FIT G11753 342,912.51 406,168.00 133,143.81 (37 595.20) (70 695.7[) (2,067.58) (1,274.11) (695.05) (710.01) (451.45) 4,987.82 8,555.05 (271.37) 306,963.44 414,028.00 61,015.22 1,343.32 2,058.33 242.22 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137AYCE9 FHMS K025 A2 240907020 RCTC 1-15 P9 RAMP UP RESERVE 3137ARBX3 FHR 406IC CF 240907020 RCTC I-15 Prj RAMP UP RESERVE 912828L57 UNITED STATES TREASURY 240907020 RCTC 1-15P9 RAMP UP RESERVE 31381QH54 FN467260 240907020 RCTC I-15 Prj RAMP UP RESERVE 912828B58 UNITED STATES TREASURY 101,680.00 37,088.98 637,552.70 56,750.89 130,679.90 (3351.84) (336.01) (185.81) 51.95 (176.39) (151.74) (2.79) (146.55) (144.23) 1,758.81 27.37 21,240.09 (61.65) 1,709.43 103,253.00 33,640.07 658,641.05 56,203.89 132,245.10 223.50 15.84 30.36 210.54 462.95 240907020 RCTC I-15 PI) RAMP UP RESERVE 240907020 RCTC I-15 Prj RAMP UP RESERVE 240907020 RCTC I-15 P9 RAMP UP RESERVE 3137FGZN8 FHMS KIO2 A 912828B58 UNITED STATES TREASURY 38378AWX5 GNR 11157E QA 28,320.92 82,229.58 100,562.50 (4,384.90) (17,032.73) 4.80 (58.55) (11321) (98.83) (80.33) (326.69) 1,263.33 369.53 23,500.92 101,727.00 65,427.50 8.67 356.11 161.81 240907020 RCTC I-15 Prj RAMP UP RESERVE 3620ARB67 GN 737261 240907020 RCTC I-15 P9 RAMP UP RESERVE 3138NJAE8 FN FN0004 240907020 RCTC I-15 Prj RAMP UP RESERVE 36202FA30 G2004526 23,517.01 21,925.43 18,172.62 (1,719.21) (30.81) (68.62) 221.80 21,920.16 69.49 (1,785.15) (9.29) (53.43) 67.78 20,145.34 63.01 (1,213.30) (48.81) (53.06) 190.70 17,048.15 60.13 240907020 RCTC I-15 P9 RAMP UP RESERVE 240907020 RCTC I-15 Prj RAMP UP RESERVE 240907020 RCTC I-15 Pr3 RAMP UP RESERVE 38375XCM4 383742C76 3137BQBY2 GNR 0847B PC GNR 0832B PA FHMS K722 Al 26,094.74 62,292.69 62,344.94 (2,588.99) (4,234.39) (1,609.20) (61.71) (78.72) (8.43) (46.03) (45.90) (43.30) 375.13 1,077.80 1,169.21 23,773.14 59,011.49 61,853.22 94.71 189.99 110.16 240907020 RCTC I-15 Prj RAMP UP RESERVE 31381RLL6 FN 468431 240907020 RCTC I-15 P9 RAMP GP RESERVE 38377REV3 GNR 10158C HA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3138EJPZ5 FNAL2239 240907020 RCTC I-15 P9 RAMP GP RESERVE 912828L57 UNITED STATES TREASURY 240907020 RCTC I-15 Prj RAMP UP RESERVE 38378CDK0 GNR 11169G AK 45,904.71 34,411.24 25,173.95 60,241.20 35,805.46 (245.22) (1.87) (42.73) (2,964.80) (53.42) (40.75) (163.57) (3.25) (35.14) (34.67) (14,968.66) (20.83) (33.36) 60.22 694.66 486.17 2,027.27 45.99 45,675.11 32,046.94 25,458.15 62,233.80 20,828.60 147.97 89.91 63.69 2.87 51.91 240907020 RCTC I-15 P13 RAMP UP RESERVE 9128286U9 UNITED STATES TREASURY 240907020 RCTC I-15 Prj RAMP UP RESERVE 36202F2H8 G2 005276 240907020 RCTC I-15 P9 RAMP UP RESERVE 313970WZ7 FNR I I15F VB 34,043.69 28,011.82 40,606.25 - - (31.36) 1,029.91 41,604.80 322.25 (2,051.35) (50.63) (30.99) 498.60 32,409.33 77.74 (12,874.81) (13.10) (30.67) (20.58) 15,072.65 50.04 240907020 RCTC I-15Prj RAMP UP RESERVE 31381SV18 FN469617 240907020 RCTC I-15 P9 RAMP UP RESERVE 3620A9W V9 GN 723460 240907020 RCTC I-15 Prj RAMP UP RESERVE 38376V2E6 GNR 1019B UA 240907020 RCTC I-15 P9 RAMP UP RESERVE 38378DDC6 GNR 1216E GB 240907020 RCTC I-15 Prj RAMP UP RESERVE 31418CQM9 FN MA3159 43,002.51 11,006.26 23,548.50 28,387.01 22,382.72 (286.76) (896.85) (1,799.34) (12,883.87) (1,487.85) (0.72) (14.85) (68.73) (12.16) (36.97) (29.36) (29.02) (25.73) (25.56) (22.77) 277.24 202.86 371.90 26.87 424.46 42,962.91 10,268.40 22,026.60 15,492.30 21,259.58 120.26 32.26 68.91 45.04 50.76 240907020 RCTC I-15 P9 RAMP UP RESERVE 240907020 RCTC I-15 Prj RAMP UP RESERVE 240907020 RCTC I-15 P9 RAMP UP RESERVE 38374VGF0 GNR 0945A PD 3130AEC77 FEDERAL HOME LOAN BANKS 3137AH6C7 FHMS K015 A2 - 88,579.34 - - (11,830.99) (65.59) (22.75) 351,368.50 - - - - - (21.09) 97,054.22 - - - (609.80) (0.60) (16.61) 335.18 (101.42) 1,165.33 76,995.19 351,246.00 97,592.53 286.15 3,139.06 256.43 240907020 RCTC I-15 Prj RAMP UP RESERVE 912828/43 UNITED STATES TREASURY 40,150.00 240907020 RCTC 1-15 P9 RAMP GP RESERVE 3140J6DU8 FN BM1914 78,841.22 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137A5FP4 FHR 3791E DA 42,484.33 240907020 RCTC 1-15 P9 RAMP GP RESERVE 912828Y53 UNITED STATES TREASURY 224,941.50 240907020 RCTC I-15 Prj RAMP UP RESERVE 38377QKH9 GNR 1118A PG 21,466.94 - - (16.58) 1,035.38 41,168.80 60.87 (4,561.36) (29.59) (16.30) 1,794.53 76,028.50 152.58 (5,429.62) (2.85) (12.46) 238.38 37,277.78 76.86 (11.95) 65.95 224,995.50 405.92 (1,487.46) (26.57) (11.35) 647.44 20,589.01 49.02 240907020 RCTC I-15 Pu RAMP GP RESERVE 912828L57 UNITED STATES TREASURY 240907020 RCTC I-15 Prj RAMP UP RESERVE 36179M416 G2 MA0825 240907020 RCTC I-15 Prj RAMP GP RESERVE 36178NB99 GN AB2764 25,100.50 31,406.33 38,163.42 (15,121.88) - 2.93 (10.58) 401.32 10,372.30 0.48 (1,707.72) (20.48) (10.23) 655.81 30,323.72 60.87 (2,489.26) (27.19) (9.79) 947.79 36,584.97 73.24 240907020 RCTC I-15 P) RAMP UP RESERVE 38376YFF3 GNR 1046E CH 6,976.73 240907020 RCTC I-15 Pr3 RAMP GP RESERVE 38379JM99 GNR 1545E AG 21,893.65 240907020 RCTC I-15 P) RAMP UP RESERVE 912828L57 UNITED STATES TREASURY 25,100.50 240907020 RCTC I-15 P9 RAMP GP RESERVE 38379HLE3 GNR 14184H WK 59,469.03 240907020 RCTC I-15 P) RAMP UP RESERVE 3136A72D3 FNA 12M9 A2 11,740.37 (25,203.13) (1,482.77) (1,653.91) (13,022.82) (836.17) (7.23) (9.76) 2.18 19.29 (4.95) (8.71) (7.58) (5.64) (3.61) (1.66) 18.00 481.22 106.09 128.87 117.25 5,496.03 20,703.63 46,590.75 11,014.85 18.07 41.61 131.60 22.41 240907020 RCTC I-15 Pr3 RAMP UP RESERVE 3136A72D3 FNA I2M9 A2 2,935.09 240907020 RCTC I-15 P) RAMP UP RESERVE 31398N2K9 FNR 10123B DL 11.22 240907020 RCTC I-15Pr3 RAMP UP RESERVE 31846V203 FIRST AMER:GVT()HLGY 15,346.68 240907020 RCTC I-15 P) RAMP UP RESERVE CCYUSD Payable - 240907020 RCTC I-15 Pr3 RAMP UP RESERVE 62888VAA6 NGN 10R1 IA 0.01 240907020 RCTC I-15 P) RAMP UP RESERVE 36179NHK7 G2 MA1134 - 240907020 RCTC I-15 P9 RAMP UP RESERVE 38375JC12 GNR 0668 D 1,856.53 240907020 RCTC I-15 P) RAMP UP RESERVE 31418AU48 FN MA1502 (0.00) 240907020 RCTC I-15 P9 RAMP UP RESERVE 31418ASDI FN MA1415 755.53 240907020 RCTC I-15 P) RAMP UP RESERVE 9128285H9 UNITED STATES TREASURY 499,760.00 240907020 RCTC I-15 P9 RAMP UP RESERVE 38378JZD7 GNR 1347A EC 17,662.73 240907020 RCTC I-15 P) RAMP UP RESERVE 38378HXH4 GNR 12119 KB 6,538.49 240907020 RCTC I-15 P9 RAMP UP RESERVE 3137A2MF8 FHMS K016 A2 95,195.36 240907020 RCTC I-15Prj RAMP UP RESERVE 31418ASD1 FN MA1415 47,598.26 240907020 RCTC I-15 P9 RAMP UP RESERVE 38376YPU9 GNR 1050D EA 20,544.87 249 - - - (209.04) (1.23) (0.40) 29.29 2,753.71 5.60 - - (10.81) (0.00) (0.00) 0.01 0.42 0.00 325,987.55 (155,608.35) - - - - 185,725.88 - - - - - (138,611.72) (0.00) - - 0.01 - 138,382.49 - - - - - 228.84 138,611.33 22.11 (1,858.85) (0.02) - 2.34 - - - - - (0.00) - - (0.00) - (669.11) - (66.99) (13.00) 0.26 (6.70) - - - - - - 1.83 163.17 499,925.00 903.75 (1,454.18) 17.47 9.04 108.84 16,343.89 20.18 - - (444.65) 20.82 10.04 141.19 6,265.89 6.47 (541.58) 1.51 11.70 1,219.28 95,886.28 231.26 (42,153.62) - (4,220.15) (869.23) 13.67 (368.92) - - (3,954.58) 21.52 14.24 39.87 16,665.91 34.48 Page 30 of 45 IMFRIVERSIDE COUNTY TRANSPORTATION COMMISSION 240907020 RCTC I-15 PO RAMP UP RESERVE 3132CJAJ2 FH SA0009 240907020 RCTC 1-15 PO RAMP UP RESERVE 38378BXQ7 GNR 1289 A 240907020 RCTC I-15 PO RAMP UP RESERVE 3137B1UF7 FHMS K027 AI 240907020 RCTC 1-15 P9 RAMP UP RESERVE 3138L2GH4 FN AM1999 2017 Financing STAMP Portfolio Transaction Report by Account Quarter ended March 31, 2020 Base Base Change In Beginning Base Base Maturities and Net Total Realized Amortization/A Net Unrealized Ending Base Ending Accrued Market Value Rase Purchases Base Sales Redemptions Base Pavdon'ns Gain/Loss ecretion Gain/Loss Market Value Income Balance 46,057.38 14,837.35 27,945.73 21,426.87 (2,354.08) (8,786.51) (2,659.85) (146.00) (68.00) 48.37 23.66 0.61 16.51 17.75 19.33 20.98 816.01 4.55 202.19 217.78 44,467.81 6,121.50 25,531.07 21.520.24 106.08 7.87 37.65 34.32 240907020 RCTC I-15 Pp RAMP UP RESERVE 912828Y53 UNITED STATES TREASURY 240907020 RCTC I-15 PO RAMP UP RESERVE 3137ASR97 FHMS K020 Al 240907020 RCTC I-15 Pp RAMP UP RESERVE 38378KW47 GNR 13138 A 240907020 RCTC I-15 PO RAMP UP RESERVE 3136AC714 FNA 13M6 2A 240907020 RCTC I-15 Pp RAMP UP RESERVE 3137B3NW4 FHMS K031 Al 124,967.50 16,220.73 45,131.42 35,991.96 76,640.69 21.87 8.13 124,997.50 225.51 (2,484.91) (3,250.62) (3,059.62) (6,673.79) 27.67 22.17 49.40 13,835.05 18.10 12.98 22.58 1.59 41,917.95 75.11 31.51 26.83 441.69 33,432.36 68.58 43.27 29.51 676.88 70.716.56 160.15 240907020 RCTC I-15 Psj RAMP UP RESERVE 912828Y53 UNITED STATES TREASURY 374,902.50 - - - - - 35.45 54.55 374,992.50 676.54 240907020 RCM I-15 Pp RAMP UP RESERVE 3137AXHN6 FILMS K024 AI 52,301.59 - - - (5,874.35) 46.40 36.17 376.92 46,886.73 67.79 240907020 RCTC I-15 PO RAMP UP RESERVE 3137B8453 FHR4305A CT 87,533.38 - - - (8,703.61) 77.62 36.87 915.49 79,859.75 131.08 240907020 RCTC I-15 Pp RAMP UP RESERVE 383771M59 GNR 1O111F PE 30,387.43 - - - (2,543.56) 54.60 37.52 555.69 28,491.67 58.07 240907020 RCTC 1-15 PO RAMP UP RESERVE 3137B11175 FHMS 80301 A2 117,162.05 - - - (982.44) 10.17 98.97 2,516.67 118,805.42 242.08 240907020 RCTC I-15 Pp RAMP UP RESERVE 9128286N5 UNITED STATES TREASURY 82,943.05 - - - - - 108.82 (52.00) 82,999.86 188.90 240907020 RCTC I-15 PO RAMP UP RESERVE 38378VC45 GNR 13116D MA 58,669.77 - - - (2,510.56) 82.25 113.41 1,419.69 57,774.56 105.48 240907020 RCTC I-15 Pp RAMP UP RESERVE 3136AMM48 FNA 15M4B AV2 83,113.69 - - - (1,999.96) 19.09 115.63 669.64 81,918.09 168.59 240907020 RCTC I-15 PO RAMP UP RESERVE 3136A96F0 FNA 12MI7 A2 56,269.56 - - - (2,763.70) 50.24 124.05 594.17 54,274.32 96.99 240907020 RCTC I-15 Pp RAMP UP RESERVE 9128286N5 UNITED STATES TREASURY 82,943.05 - - - - - 126.66 (69.85) 82,999.86 188.90 240907020 RCTC I-15 PO RAMP UP RESERVE 912828YK0 UNITED STATES TREASURY 183,873.35 - - - - 132.71 6,210.94 190,217.00 1,174.57 240907020 240907020 240907020 240907020 240907020 RCTC I-15 Pp RAMP UP RESERVE RCTC 1-15 PO RAMP UP RESERVE RCTC I-15 Pp RAMP UP RESERVE RCTC 1-15 PO RAMP UP RESERVE RCTC I-15 Pp RAMP UP RESERVE 38378KWU9 912828YK0 912828T67 3137ATRW4 912828UH1 GNR 1396 A UNITED STATES TREASURY UNITED STATES TREASURY FHMS K020 A2 UNITED STATES TREASURY 34,816.35 228,599.30 164,006.70 100,788.00 83,603.89 (332.56) 16.81 133.33 154.18 166.24 183.51 252.80 170.59 7,732.52 3,585.86 1,066.49 (1,055.61) 34,804.52 236,486.00 167,758.80 102,038.00 82.801.08 41.14 1,460.28 866.93 197.75 22.16 240907020 RCTC I-15 PO RAMP UP RESERVE 912828B58 UNITED STATES TREASURY 240907020 RCTC I-15 Pp RAMP UP RESERVE 912828V V9 UNITED STATES TREASURY 240907020 RCTC 1-15 PO RAMP UP RESERVE 912828VV9 UNITED STATES TREASURY 240907020 RCTC I-15 Pp RAMP UP RESERVE 912828VA5 UNITED STATES TREASURY 240907020 RCTC I-15 PO RAMP UP RESERVE 912828VA5 UNITED STATES TREASURY 321,673.60 476,448.75 300,915.00 370.47 503.63 518.35 3,482.33 1,999.62 1,062.65 325,526.40 478,952.00 302,496.00 1,139.56 877.72 554.35 164,716.20 499,140.00 614.61 (193.86) 165,136.95 780.24 1,712.93 (437.93) 500,415.00 2,364.35 8,295,125.22 740,17531 (238,756.08) (310,168.60) (3,811.82) 1,407.24 91,096.81 8,436,456.56 24,960.63 66.126.161.10 109333.97292 147.607.678.64) (63.949.000.00) (3.001.458.93) (5.708.66) 48,014.66 106.747.65 60.912.438.38 145.375.88 250 Page 31 of 45 OFRIVERSIDE COUNTY TRANSPORTATION COMMISSION 2017 Financing STAMP Portfolio Summary of Investments for quarter ended March 31, 2020 ATTACHMENT 12 Asset Class Cash(-0.226%] Money Market — J Funds (0.477%) `Fixed Income (99.749%] Chart calculated by: Base Markel Value + Accrued *Negative cash reflects securities in transit at month end Industry Group Other (12A00%] Agency Ce11at CMO (2.847%) Commercial MBS` (4.228%) Etsetrlc (4.913%)1- Multi-National (4.933%) US Municipals (8.488%) Banks (8.534%)' Sovereign (53.958%) Chart calculated by: Base Market Value + Accrued Security Type Other (14.918%)- SUPRANATIONAL (4.933%) ABS (5.068%)---- VRON (6.914%) CORP (7.465%) CP (e.088%) US GOV (32.837%) 7-BILL (18.342%). Churl calculated by: Base Markel Value + Accrued Market Sector Other (2.021%) Industrial (4.093%) Utility (4.913%)-r Asset Backed-~ (5.688%) Municipal (6.480%) Financial (8.534%) - Mortgage Backed (9.140%) Government (36.521%) Chad calculated by: Base Market Value + Accrued 251 OFRIVERSIDE COUNTY TRANSPORTATION COMMISSION 2017 Financing STAMP Portfolio Sales Tax 115 ELP Project Revenue Fund Summary of Investments for quarter ended March 31, 2020 ATTACHMENT 13 Credit Rating Base Market Value + Accrued 30,000,000 25,000,000 20,000,000 15 000000 10,000,000 5,000,000 0 1—AAA AA+ A A- — — NA A-1+ A-1 Asset Class Cash 10.001%) Money Market Funds (0200%) Fixed Income Chart calculated by: Base Markel Value + Accrued Industry Group Security Type Other (9.957%). S(1PRANATIONAL (5.727%) ABS (8.661%) VRDN (8.026%1— CORP (8.B66%) CP (10.455%) US GOV (29275%) T-BILL (21.293%) Chart calculaled by: Base Market Value + Accrued Other 01.169%) Miscellaneous Menetactor (2.851%) Commercial MSS_-u (2.944%) Electric (5. 703%) Multi -National (5.727%) 115 Muntclpals (9.851%1 Banks (9.907%) -Sovereign (51.85470 Chart calculated by: Base Markel Value + Accrued Market Sector Other (1.487%) Industrial (4.752%) r Mortgage Ea ckcd" 15.404%1 Utility (5.703%) - Asset Backed (6.601%) k•. Municipal{9.851%)- —1111PrPr Financial (9.967%) -Government (56.295%) Chart calculated by: Base Market Value +Accrued 252 OFRIVERSIDE COUNTY TRANSPORTATION COMMISSION 2017 Financing STAMP Portfolio Ramp Up Fund Summary of Investments for quarter ended March 31, 2020 ATTACHMENT 14 Credit Rating Base Market Value + Accrued 10,000,000 8,000,000 6,000,000 4,000,000 2,000,000 0 Asset Class Cash {-1.636%) Money Market ----- Funds 12.195%) `Fixed Income (99.441 %) Chart calculated by. Base Market Value + Accrued `Negative cash reflects securities in transit at month end AAA 7 Industry Group Other (1.374%) FGLMC Collateral (1251%) Agency Collet PAC CMG {1.698%) GNMA2 Collateral' (2.564%) FNMA Collateral (3.665%) Agency Collet CMQr 110243%) Commercial MRS! (12.131%) Sovereign (67.035%) Chart calculated by: Base Market Value • Accrue. Security Type Other (6.214 R) GNMA (4.307%) FGLMC (4.6991e) FNMA (5.673%)' G NMA CIAO (6.407%) FHLMC CMO (6.672%) AGCY BONG (9.105%) — US GOV (54.984%) Chart calculaled by: Base Market Value +Accrued Market Sector Cash (0.559%) Agency (9.105%) Mortgage Backed- (32.406%) - Government (57.929%) Chart calculated hy: Base Market Value + Accrued 253 OFRIVERSIDE COUNTY TRANSPORTATION COM MISSION Payden & Rygel Operating Portfolio by Investment Category for Quarter ended March 31, 2020 ATTACHMENT 15 Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COM CUSIP Security Type Category Issuer Next Call Final Maturity Trade Date Date Original Cost Base Market Value Unrealized Gain/Loss Accrued Income Coupon Yield Credit Rating 010831DN2 Taxable Muni Taxable Muni ALAMEDA CNTY CA JT 2.866% 6/01/21 06/01/2021 04/24/2018 255,000.00 258,891.30 135,704.40 3,891.30 2,436.10 1,341.17 2.870 3.100 2.830225944 AA+ 010831DQ5 ALAMEDA CNTY CA 3.095% 6/01/23 06/01/2023 04/24/2018 135,726.50 (22.10) 2.977450264 AA+ 037833DL1 Credit APPLE INC 1.700% 9/11/22 09/11/2022 09/11/2019 524,910.75 534,108.75 9,198.00 495.83 1.700 1.656710163 AA+ 053015AD5 Credit AUTOMATIC DATA 2.250% 9/15/20 09/15/2020 09/15/2015 08/15/2020 450,883.17 450,742.50 (140.67) 450.00 2.250 2.239251592 AA 05588CAC6 Asset -Backed BMW VEHICLE OWNER 1.920% 1/25/24 01/25/2024 09/18/2019 329,955.65 333,168.00 3,212.35 105.60 1.920 1.889391852 AAA 06050TMJ8 Credit BANK OF AMERICA MTN 3.335% 1/25/23 01/25/2023 01/25/2019 01/25/2022 520,000.00 519,708.80 (291.20) 3,179.37 3.340 3.225868857 A+ 06406FAA1 Credit BANK OF NY MTN 2.500% 4/15/21 04/15/2021 02/19/2016 03/15/2021 452,035.37 449,734.50 (2,300.87) 5,187.50 2.500 2.462957125 A 06406RAK3 Credit BANK OF NY MTN 1.950% 8/23/22 08/23/2022 08/23/2019 99,968.00 100,410.00 442.00 205.83 1.950 1.910266458 A 06406RAM9 Credit BANK OF NY MTN 1.850% 1/27/23 01/27/2023 01/28/2020 01/02/2023 299,790.00 298,098.00 (1,692.00) 971.25 1.850 1.813849970 A 072024WN8 Taxable Muni BAY AREA CA TOLL 2.184% 4/01/23 04/01/2023 09/26/2019 680,000.00 689,200.40 9,200.40 7,631.87 2.180 2.128551240 AA 084670BQ0 Credit BERKSHIRE HATHAWAY 2.200% 3/15/21 03/15/2021 03/15/2016 02/15/2021 466,436.01 473,251.38 6,815.37 460.53 2.200 2.170995500 AA 13032UUZ9 Taxable Muni CALIFORNIA ST HLTH 1.893% 6/01/22 06/01/2022 11/25/2019 520,000.00 518,476.40 (1,523.60) 3,445.26 1.890 1.887544995 AA- 13063BFS6 Taxable Muni CALIFORNIA ST BUILD 6.650% 3/01/22 03/01/2022 04/01/2010 458,136.84 455,957.00 (2,179.84) 2,355.21 6.650 6.193132608 AA- 13063DGA0 Taxable Muni CALIFORNIA ST 2.800% 4/01/21 04/01/2021 04/25/2018 500,000.00 507,170.00 7,170.00 7,000.00 2.800 2.753710133 AA- 13066YTY5 Taxable Muni CALIFORNIA ST DEPT 1.81331% 5/01/21 05/01/2021 09/28/2016 102,868.78 104,255.01 1,386.23 741.69 1.710 1.808873360 AA+ 13066YTZ2 Taxable Muni CALIFORNIA ST DEPT 2.000% 5/01/22 05/01/2022 09/28/2016 301,155.36 304,563.00 3,407.64 2,500.00 2.000 1.974860032 AA+ 14043MAC5 Asset -Backed CAPTIAL ONE PRIME 1.600% 11/15/24 11/15/2024 02/19/2020 289,938.35 285,557.20 (4,381.15) 206.22 1.600 1.585791310 AAA 144141DC9 Credit PROG ENERGY CAROLINA 2.800% 5/15/22 05/15/2022 05/18/2012 02/15/2022 253,182.85 253,745.00 562.15 2,644.44 2.800 2.708637652 A 156549AA5 Taxable Muni CENTURY HOUSING CORP 3.824% 11/01/20 11/01/2020 02/07/2019 110,000.00 111,688.50 1,688.50 1,752.67 3.820 3.769678927 AA- 166764AU4 Credit CHEVRON CORP 2.4355% 3/03/22 03/03/2022 03/03/2015 502,557.08 487,160.00 (15,397.08) 980.97 1.990 2.458710325 AA 17325FAQ1 Credit CITIBANK NA 3.400% 7/23/21 07/23/2021 07/23/2018 06/23/2021 253,647.59 255,125.00 1,477.41 1,605.56 3.400 3.318530086 A+ 17325FAY4 Credit CITIBANK NA 2.844% 5/20/22 05/20/2022 05/22/2019 05/20/2021 511,367.99 513,559.80 _ 2,191.81 5,277.99 2.840 2.808861147 A+ 20772JKP6 Taxable Muni CONNECTICUT ST 2.401% 10/15/21 10/15/2021 11/16/2012 120,166.71 120,486.00 319.29 1,328.55 2.400 2.369555992 A 20772KGM5 Taxable Muni CONNECTICUT ST SERA 2.921% 4/15/23 04/15/2023 04/11/2019 301,458.43 309,978.00 8,519.57 4,040.72 2.920 2.811357074 A 210518CT1 Credit CONSUMERS ENERGY CO 2.850% 5/15/22 05/15/2022 05/08/2012 02/15/2022 379,955.96 379,601.25 (354.71) 4,037.50 2.850 2.769383253 A 212204JC6 Taxable Muni CONTRA COSTA CA 1.652% 8/01/22 08/01/2022 09/12/2019 300,000.00 302,550.00 2,550.00 826.00 1.650 1.641706500 AA+ 250847EJ5 Credit DETROIT EDISON CO 2.650% 6/15/22 06/15/2022 06/22/2012 182,506.78 178,734.60 (3,772.18) 1,404.50 2.650 2.592346220 A 30231GAV4 Credit EXXON MOBIL 2.222% 3/01/21 03/01/2021 03/03/2016 02/01/2021 495,685.00 503,250.00 7,565.00 925.83 2.220 2.201983966 AA 30231GBB7 Credit EXXON MOBIL 1.902% 8/16/22 08/16/2022 08/16/2019 300,000.00 301,023.00 1,023.00 713.25 1.900 1.863062004 AA 3130AF5B9 Agencies F H L B DEB 3.000% 10/12/21 10/12/2021 10/12/2018 619,597.00 644,855.80 25,258.80 8,731.67 3.000 2.883367774 AA+ 3130AGWK7 Agencies F H L B DEB 1.500% 8/15/24 08/15/2024 08/16/2019 149,647.50 156,355.50 6,708.00 287.50 1.500 1.434884922 AA+ 3130AHJY0 Agencies F H L B DEB 1.625% 11/19/21 11/19/2021 11/08/2019 469,196.30 479,179.10 9,982.80 3,033.78 1.630 1.591763968 AA+ 3130AHWB5 Agencies F F C B DEB 2.000% 1/21/25 01/21/2025 01/21/2020 07/21/2020 500,000.00 501,820.00 1,820.00 1,944.44 2.000 1.993839037 AA+ 3130AJ5Q8 Agencies FHLB 1.750% 2/14/23 02/14/2023 02/14/2020 08/14/2020 270,000.00 270,240.30 240.30 616.87 1.750 1.749632577 AA+ 3133ELGR9 Agencies F F C B DEB 1.780% 7/13/23 07/13/2023 01/13/2020 04/22/2020 529,867.50 530,153.70 286.20 2,044.03 1.780 1.780000000 AA+ 3134GU7H7 Agencies F H L M C M T N 1.970% 2/06/25 02/06/2025 02/06/2020 05/06/2020 530,000.00 530,609.50 609.50 1,595.15 1.970 1.969921203 N/A 3135G0W33 Agencies FNMA 1.375% 9/06/22 09/06/2022 09/06/2019 597,912.00 614,460.00 16,548.00 572.92 1.380 1.340103700 AA+ 3135G0X73 Agencies FNMA 1.750% 1/30/23 01/30/2023 01/30/2020 07/30/2020 540,000.00 541,458.00 1,458.00 1,601.25 1.750 1.746350128 AA+ 3136B1XP4 Mortgage -Backed F N M A GTD REMIC 3.560% 9/25/21 09/25/2021 04/01/2018 137,416.61 138,029.83 613.22 404.12 3.560 3.506283044 N/A 3137ATRW4 Mortgage -Backed F H L M C MULTICLASS 2.373% 5/25/22 05/25/2022 09/01/2012 190,803.65 193,872.20 3,068.55 375.73 2.370 2.311603803 N/A 3137B1U75 Mortgage -Backed F H L M C MLTCL MTG 2.522% 1/25/23 01/25/2023 05/07/2013 � 154,180.80 158,407.23 4,226.43 322.77 2.520 2.436079863 N/A 3137B36J2 Mortgage -Backed F H L M C MLTCL MTG 3.320% 2/25/23 02/25/2023 07/01/2013 498,021.61 505,886.40 7,864.79 1,328.00 3.320 3.125147456 N/A 3137B4WB8 Mortgage -Backed F H L M C MLTCL MTG 3.060% 7/25/23 07/25/2023 10/01/2013 514,270.31 517,861.40 3,591.09 1,249.50 3.060 2.879241235 N/A 3137BQR90 Mortgage -Backed F H L M C MLTCL MTG 2.272% 1/25/23 01/25/2023 07/01/2016 250,667.58 257,500.00 6,832.42 473.33 2.270 2.193854889 N/A 3137FJYA1 Mortgage -Backed F H L M C MLTCL 3.454% 5/25/23 05/25/2023 11/01/2018 96,952.79 99,206.72 2,253.93 279.07 3.450 3.371203248 N/A 31846V203 Taxable Muni FIRST AM GOVT OB FD CL Y 163,509.64 163,509.64 - 191.61 1.880 0.005986000 365298Y28 Asset -Backed GARDEN GROVE CA 1.875% 8/01/21 08/01/2021 10/16/2019 i 300,000.00 302,436.00 2,436.00 937.50 2.340 1.864076512 AA- 41284WAC4 Taxable Muni HARLEY DAVIDSON 2.340% 2/15/24 02/15/2024 06/26/2019 589,954.33 585,822.80 (4,131.53) 613.60 2.770 2.329633133 N/A 419792YL4 Asset -Backed HAWAII ST SER FX 2.770% 1/01/22 01/01/2022 02/21/2019 190,000.00 195,221.20 5,221.20 1,315.75 1.790 2.703757931 AA+ 43814PAC4 Asset -Backed HONDA AUTO 1.790% 9/20/21 09/20/2021 09/29/2017 55,060.48 55,010.28 (50.20) 35.59 1.780 1.787926405 AAA 43815NAC8 Credit HONDA AUTO 1.780% 8/15/23 08/15/2023 08/27/2019 249,997.93 251,320.00 1,322.07 197.78 3.210 1.755926251 AAA 46647PBB1 Asset -Backed JPMORGAN CHASE CO 3.207% 4/01/23 04/01/2023 03/22/2019 04/01/2022 1,050,000.00 1,068,081.00 18,081.00 16,836.75 1.780 3.108220745 A- 47787XAC1 Asset -Backed JOHN DEERE OWNER 1.780% 4/15/21 04/15/2021 03/02/2017 IIIIII.1- 5,353.07 5,348.32 (4.75) 4.24 2.910 1.780569782 N/A 47789JAD8 Asset -Backed JOHN DEERE OWNER 2.910% 7/17/23 07/17/2023 03/13/2019 259,968.05 264,630.60 4,662.55 336.27 1.100 2.854340363 N/A 47789KAC7 Credit JOHN DEERE OWNER 1.100% 8/15/24 08/15/2024 03/11/2020 429,973.73 422,122.40 (7,851.33) 262.78 1.950 1.099978000 N/A 478160CH5 Taxable Muni JOHNSON JOHNSON 1.950% 11/10/20 11/10/2020 11/10/2017 249,732.50 252,620.00 2,887.50 1,909.38 2.140 1.942037646 AAA 544290JC4 Taxable Muni LOS ALTOS CA SCH 2.143% 8/01/23 08/01/2023 10/17/2019,44401/2020 390,000.00 390,624.00 624.00 1,392.95 2.090 2.141115818 SP-1+ 544445AZ2 Taxable Muni LOS ANGELES CA DEPT 2.092% 5/15/20 05/15/2020 12/06/2016 4 J4 98,788.00 100,096.00 1,308.00 790.31 1.770 2.091665334 AA 111511 RIVERSIDE COUNTY TRANSPORTATION COM MISSION Payden & Rygel Operating Portfolio by Investment Category for Quarter ended March 31, 2020 Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COM CUSIP 576051VW3 Security Type Category Asset -Backed Issuer MASSACHUSETTS ST WTR 1.772% 8/01/23 Final Maturity Trade Date 11/01/2019 Next Call Date Original Cost 110,000.00 Base Market Value 111,324.40 Unrealized Gain/Loss 1,324.40 Accrued Income 324.87 Coupon 1.940 Yield 1.754073370 Credit Rating AA+ 08/01/2023 58769TAD7 Asset -Backed MERCEDES BENZ 1.940% 3/15/24 03/15/2024 09/25/2019 269,962.82 270,113.40 150.58 232.80 1.840 1.912781125 AAA 58770FAC6 Credit MERCEDES BENZ AUTO 1.840% 12/15/22 12/15/2022 01/29/2020 139,981.55 140,091.00 109.45 114.49 2.400 1.830754689 AAA 654106AH6 Credit NIKE INC SR NT 2.400% 3/27/25 03/27/2025 03/27/2020 02/27/2025 19,972.80 20,782.80 810.00 5.33 2.380 2.277580071 AA- 693304AP2 Taxable Muni PECO ENERGY CO 2.375% 9/15/22 09/15/2022 09/17/2012 06/15/2022 121,055.60 119,779.20 (1,276.40) 126.67 2.290 2.307527885 A 697379UD5 Credit PALO ALTO CA 2.291% 8/01/20 08/01/2020 08/14/2012 321,873.50 325,968.50 4,095.00 1,240.96 3.000 2.284398090 AAA 717081EM1 Taxable Muni PFIZER INC 3.000% 9/15/21 09/15/2021 09/07/2018 249,662.50 256,222.50 6,560.00 333.33 1.880 2.908329456 AA- 796720ME7 Taxable Muni SAN BERNARDINO CA 1.883% 8/01/22 08/01/2022 12/12/2019 435,000.00 437,396.85 2,396.85 1,365.17 2.990 1.866370638 AA 797299LT9 Taxable Muni SAN DIEGO CA PUBLIC 2.994% 10/15/21 10/15/2021 06/21/2018 200,000.00 205,194.00 5,194.00 2,761.13 2.170 2.927945548 AA- 797669XT0 Taxable Muni SAN FRANCISCO CA 2.169% 7/01/20 07/01/2020 12/28/2017 100,000.00 100,302.00 302.00 542.25 2.000 2.167092958 AA+ 79770GGM2 Taxable Muni SAN FRANCISCO CITY 2.000% 8/01/20 08/01/2020 11/30/2017 299,607.00 301,047.00 1,440.00 1,000.00 2.380 2.000000000 AA- 79770GGP5 Taxable Muni SAN FRANCISCO CA 2.375% 8/01/22 08/01/2022 11/30/2017 406,628.00 409,552.00 2,924.00 1,583.33 2.260 2.364313304 AA- 798170AC0 Taxable Muni SAN JOSE CA REDEV 2.259% 8/01/20 08/01/2020 12/21/2017 190,000.00 190,963.30 963.30 715.35 2.000 2.254423520 AA 79876CB00 Taxable Muni SAN MARCOS CA REDEV 2.000% 10/01/20 10/01/2020 12/14/2017 109,256.40 110,436.70 1,180.30 1,100.00 3.350 1.994594649 AA- 801096AP3 Taxable Muni SANTA ANA CA CMNTY 3.346% 9/01/21 09/01/2021 11/08/2018 240,000.00 247,428.00 7,428.00 669.20 3.300 3.257652465 AA 80136PCY7 Taxable Muni SANTA BARBARA CA 3.300% 12/01/21 12/01/2021 11/28/2018 125,000.00 128,891.25 3,891.25 1,375.00 2.390 3.211553808 AA 80168FMA1 Taxable Muni SANTA CLARA VLY CA 2.387% 6/01/21 06/01/2021 03/30/2016 397,756.00 405,528.00 7,772.00 3,182.67 1.970 2.360281612 N/A 835569GP3 Credit SONOMA CNTY CA 1.969% 8/01/22 08/01/2022 11/12/2019 420,000.00 428,076.60 8,076.60 1,378.30 2.550 1.936943584 AA 857477AS2 Taxable Muni STATE STREET CORP 2.550% 8/18/20 08/18/2020 08/18/2015 789,338.63 789,276.56 (62.07) 2,400.12 2.040 2.537591179 A 882723UC1 Asset -Backed TEXAS ST REF WTR 2.036% 8/01/20 08/01/2020 02/05/2015 250,292.74 250,960.00 667.26 848.33 1.730 2.030720128 AAA 89238MAD0 Asset -Backed TOYOTA AUTO 1.730% 2/16/21 02/16/2021 03/15/2017 13,705.03 13,696.91 (8.12) 10.54 1.910 1.729982700 AAA 89238UAD2 Asset -Backed TOYOTA AUTO 1.910% 9/15/23 09/15/2023 08/14/2019 249,997.95 250,392.50 394.55 212.22 2.910 1.879199913 AAA 89239AAD5 Credit TOYOTA AUTO 2.910% 7/17/23 07/17/2023 02/13/2019 339,938.05 345,746.00 5,807.95 439.73 3.000 2.842268736 AAA 90331HPA5 Credit US BANK NA MTN 3.000% 2/04/21 02/04/2021 02/04/2019 01/04/2021 269,781.30 271,728.00 1,946.70 1,282.50 1.950 2.958288137 AA- 90331HPF4 Credit US BANK NA MTN 1.950% 1/09/23 01/09/2023 12/09/2019 12/09/2022 549,538.00 551,039.50 1,501.50 3,336.67 2.440 1.905189933 AA- 91159HHQ6 Agencies US BANCORP MTN 1.660% 1/24/22 01/24/2022 01/24/2017 12/23/2021 251,187.55 245,025.00 (6,162.55) 1,152.22 2.570 1.669297990 A+ 911759MU9 Treasuries U S DEPT HSG & URB 2.570% 8/01/21 08/01/2021 03/28/2019 100,000.00 102,798.00 2,798.00 428.33 2.880 2.503287391 N/A 9128285F3 Treasuries U S TREASURY NT 2.875% 10/15/21 10/15/2021 10/15/2018 1,026,577.07 1,072,291.80 45,714.73 13,673.53 2.880 2.767323445 N/A 9128285L0 Treasuries U S TREASURY NT 2.875% 11/15/21 11/15/2021 11/15/2018 1,035,793.83 1,079,836.20 44,042.37 11,281.22 1.750 2.761608361 N/A 9128287C8 Treasuries U S TREASURY NT 1.750% 7/15/22 07/15/2022 07/15/2019 80,379.19 82,740.80 2,361.61 _ 296.15 2.000 1.692865780 N/A 912828F96 Treasuries U S TREASURY NT 2.000% 10/31/21 10/31/2021 10/31/2014 3,227,217.17 3,295,381.00 68,163.83 26,943.13 1.630 1.947438631 N/A 912828TY6 Treasuries U S TREASURY NT 1.625% 11/15/22 11/15/2022 11/15/2012 3,769,759.82 3,903,420.30 133,660.48 23,225.89 1.500 1.569699487 N/A 912828YA2 Treasuries U S TREASURY NT 1.500% 8/15/22 08/15/2022 08/15/2019 4,129,907.73 4,248,585.00 118,677.27 7,819.37 1.500 1.457032123 N/A 912828YJ3 Treasuries U S TREASURY NT 1.500% 9/30/21 09/30/2021 09/30/2019 2,558,807.88 2,614,991.85 56,188.33 _ 105.12 1.500 1.472392638 N/A 912828YT1 Treasuries U S TREASURY NT 1.500% 11/30/21 11/30/2021 12/02/2019 1,071,934.57 1,097,972.75 26,038.18 5,330.94 1.630 1.469579700 N/A 912828YW4 Treasuries U S TREASURY NT 1.625% 12/15/22 12/15/2022 12/15/2019 541,075.78 559,828.80 18,753.02 2,589.34 1.500 1.567806422 N/A 912828Z29 Treasuries U S TREASURY NT 1.500% 1/15/23 01/15/2023 01/15/2020 2,233,479.29 2,301,139.50 67,660.21 7,060.10 1.380 1.450648924 N/A 912828Z86 Taxable Muni U S TREASURY NT 1.375% 2/15/23 02/15/2023 02/18/2020 4,848,490.23 4,926,272.00 77,781.77 7,756.10 2.110 1.332622601 N/A 91412G2S3 Taxable Muni UNIV OF CALIFORNIA 2.112% 5/15/21 05/15/2021 09/28/2017 140,000.00 141,017.80 1,017.80 1,117.01 3.280 2.095903461 AA- 91412HDJ9 Credit UNIV OF CA 3.283% 5/15/22 05/15/2022 06/05/2018 285,705.28 295,926.90 10,221.62 3,534.70 1.900 3.158188395 AA- 931142EA7 Credit WALMART STORES INC 1.900% 12/15/20 12/15/2020 10/20/2017 489,760.00 501,350.00 11,590.00 2,797.22 3.130 1.884714962 AA 931142EJ8 Credit WALMART INC 3.125% 6/23/21 06/23/2021 06/27/2018 129,993.50 132,831.40 2,837.90 1,105.90 3.630 3.037283259 AA 94988J5T0 Credit WELLS FARGO MTN 3.625% 10/22/21 10/22/2021 10/23/2018 09/21/2021 529,941.70 544,516.70 14,575.00 8,485.52 2.080 3.504582544 A+ 94988J6A0 Credit WELLS FARGO MTN 2.082% 9/09/22 09/09/2022 09/11/2019 09/09/2021 550,000.00 547,420.50 (2,579.50) 731.59 2.067445186 A+ 53,796,563.01 54,707,910.90 911,360.33 265,950.39 255 IIIFRIVERSIDE COUNTY TRANSPORTATION COMMISSION Payden & Rygel Operating Portfolio Transaction Report Quarter ended March 31, 2020 ATTACHMENT 16 Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COMM Transaction Settlement Date Trade Date Date CUSIP Descri.tion Miscellaneous Units Price Commissions SEC Fees Fees Short Term Long Term Federal Tax Cost Gain/Loss Gain/Loss Net Cash Amount Amount Amount Amount U1/UL/LULU U1/UL/LULU U1/UL/LULU J1i14bVLUJ VUK.;hAJtU UNI I Uh h IKJ I AM tjUV I UU YU t;L Y J,/1b.000U 1.UUUUUU - - - (J,/1b.UU) .3,(lb.UU - - - - - - - - - 01/02/2020 INTEREST EARNED ON FIRST AM GOVT OB FD CL Y UNIT ON 0.0000 31846V203 SHARES DUE 12/31/2019 INTEREST FROM 12/1/19 TO 12/31/19 0.0000 0.000000 - - - 220.27 01/02/2020 INTEREST EARNED ON HAWAII ST SER FX 2.770% 1/01/22 $1 PV ON 419792YL4 190000.0000 SHARES DUE 1/1/2020 0.0000 0.000000 - - - 2,631.50 - 01/02/2020 INTEREST EARNED ON SAN FRANCISCO CA 2.169% 7/01/20 $1 PV 797669XT0 ON 100000.0000 SHARES DUE 1/1/2020 0.0000 0.000000 - - - 1,084.50 - 01/03/2020 01/03/2020 01/03/2020 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 220.2700 1.000000 - - - (220.27) 220.27 - - 01/09/2020 01/09/2020 01/09/2020 31846V203 SOLD UNITS OF FIRST AM GOVT OB FD CL Y -541,675.1700 1.000000 - - - 541,675.17 (541,675.17) - - 01/09/2020 01/08/2020 01/09/2020 PURCHASED PAR VALUE OF U S TREASURY NT 1.625% 12/15/22 /NOMURA SECURITIES/FIX INCOME/540,000 PAR VALUE AT 912828YW4 100.19921852 % 540,000.0000 1.001992 - - (541,075.78) 541,075.78 - - 01/09/2020 01/09/2020 PAID ACCRUED INTEREST ON PURCHASE OF U S TREASURY NT 912828YW4 1.625% 12/15/22 0.0000 0.000000 - - - (599.39) - - - 01/15/2020 01/15/2020 01/15/2020 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 436.5000 1.000000 - - - (436.50) 436.50 - - 01/15/2020 01/15/2020 01/15/2020 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 45,281.3300 1.000000 - - - (45,281.33) 45,281.33 - - 01/15/2020 INTEREST EARNED ON HARLEY DAVIDSON 2.340% 2/15/24 $1 PV ON 1150.5000 SHARES DUE 1/15/2020 $0.00195/PV ON 590,000.00 PV 41284WAC4 DUE 1/15/20 0.0000 0.000000 - - - 1,150.50 - - - 01/15/2020 INTEREST EARNED ON HONDA AUTO 1.780% 8/15/23 $1 PV ON 370.8300 SHARES DUE 1/15/2020 $0.00148/PV ON 250,000.00 PV DUE 43815NAC8 1/15/20 0.0000 0.000000 - - - 370.83 - - - 01/15/2020 INTEREST EARNED ON JOHN DEERE OWNER 1.780% 4/15/21 $1 PV ON 62.9700 SHARES DUE 1/15/2020 $0.00148/PV ON 42,450.50 PV 47787XAC1 DUE 1/15/20 0.0000 0.000000 - - - 62.97 - - - 01/15/2020 01/15/2020 01/15/2020 47787XAC1 PAID DOWN PAR VALUE OF JOHN DEERE OWNER 1.780% 4/15/21 -12,635.7500 5.377367 - - - 12,635.75 (12,633.95) - 1.80 01/15/2020 INTEREST EARNED ON JOHN DEERE OWNER 2.910% 7/17/23 $1 PV ON 630.5000 SHARES DUE 1/15/2020 $0.00243/PV ON 260,000.00 PV 47789JAD8 DUE 1/15/20 0.0000 0.000000 - - - 630.50 - - - 01/15/2020 INTEREST EARNED ON MERCEDES BENZ 1.940% 3/15/24 $1 PV ON 436.5000 SHARES DUE 1/15/2020 $0.00162/PV ON 270,000.00 PV 58769TAD7 DUE 1/15/20 0.0000 0.000000 - - - 436.50 - - - 01/15/2020 INTEREST EARNED ON NISSAN AUTO LEASE 3.250% 9/15/21 $1 PV ON 541.6700 SHARES DUE 1/15/2020 $0.00271/PV ON 200,000.00 PV 65478BAD3 DUE 1/15/20 0.0000 0.000000 - - - 541.67 - - - 01/15/2020 INTEREST EARNED ON NISSAN AUTO 3.220% 6/15/23 $1 PV ON 1207.5000 SHARES DUE 1/15/2020 $0.00268/PV ON 450,000.00 PV 65478NAD7 DUE 1/15/20 0.0000 0.000000 - - - 1,207.50 - - - 01/15/2020 INTEREST EARNED ON NISSAN AUTO 2.900% 10/16/23 $1 PV ON 773.3300 SHARES DUE 1/15/2020 $0.00242/PV ON 320,000.00 PV DUE 65479KAD2 1/15/20 0.0000 0.000000 - - - 773.33 - - - 01/15/2020 INTEREST EARNED ON TOYOTA AUTO 1.730% 2/16/21 $1 PV ON 94.1700 SHARES DUE 1/15/2020 $0.00144/PV ON 65,318.30 PV DUE 89238MAD0 1/15/20 0.0000 0.000000 - - - 94.17 - - - 01/15/2020 01/15/2020 01/15/2020 89238MAD0 PAID DOWN PAR VALUE OF TOYOTA AUTO 1.730% 2/16/21 -18,012.3600 3.772246 - - - 18,012.36 (18,010.24) - 2.12 01/15/2020 INTEREST EARNED ON TOYOTA AUTO 1.910% 9/15/23 $1 PV ON 397.9200 SHARES DUE 1/15/2020 $0.00159/PV ON 250,000.00 PV DUE 89238UAD2 1/15/20 0.0000 0.000000 - - - 397.92 - - - 01/15/2020 INTEREST EARNED ON TOYOTA AUTO 2.910% 7/17/23 $1 PV ON 824.5000 SHARES DUE 1/15/2020 $0.00243/PV ON 340,000.00 PV DUE 89239AAD5 1/15/20 0.0000 0.000000 - - - 824.50 - - - 01/15/2020 INTEREST EARNED ON USAA AUTO OWNER 1.700% 5/17/21 $1 PV ON 32.4400 SHARES DUE 1/15/2020 $0.00142/PV ON 22,900.84 PV 90290AAC1 DUE 1/15/20 0.0000 0.000000 - - - 32.44 - - - 01/15/2020 01/15/2020 01/15/2020 90290AAC1 PAID DOWN PAR VALUE OF USAA AUTO OWNER 1.700% 5/17/21 -7,846.8900 8.659107 - - - 7,846.89 (7,846.06) - 0.83 01/15/2020 INTEREST EARNED ON U S TREASURY NT 1.750% 7/15/22 $1 PV ON 9128287C8 80000.0000 SHARES DUE 1/15/2020 0.0000 0.000000 - - - 700.00 - - - 01/15/2020 AMORTIZED PREMIUM ON U S TREASURY NT 1.750% 7/15/22 9128287C8 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (5.47) - - 01/21/2020 INTEREST EARNED ON BMW VEHICLE LEASE 2.070% 10/20/20 $1 PV ON 54.1000 SHARES DUE 1/20/2020 $0.00172/PV ON 31,364.89 PV 05584PAD9 DUE 1/20/20 0.0000 0.000000 - - - 54.10 - - - 01/21/2020 01/20/2020 01/21/2020 05584PAD9 PAID DOWN PAR VALUE OF BMW VEHICLE LEASE 2.070% 10/20/20 -15,808.5600 0.000000 - - - 15,808.56 (15,808.55) - 0.01 01/21/2020 01/21/2020 01/21/2020 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 23,649.7800 1.000000 - - - (23,649.78) 23,649.78 - - 01/21/2020 INTEREST EARNED ON HONDA AUTO 1.790% 9/20/21 $1 PV ON 115.8700 SHARES DUE 1/18/2020 $0.00149/PV ON 77,681.15 PV DUE 43814PAC4 1/18/20 gQ 0.000000 - - - 115.87 - - 01/21/2020 01/18/2020 01/21/2020 43814PAC4 PAID DOWN PAR VALUE OF HONDA AUTO 1.790% 9/20/21 -7,6A'tf).Y$BO 0.000000 - - - 7,671.25 (7,670.42) - 0.83 Page 37 of 45 111FRIVERSIDE COUNTY TRANSPORTATION COMMISSION Payden & Rygel Operating Portfolio Transaction Report Quarter ended March 31, 2020 Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COMM Transaction Settlement Date Trade Date Date Miscellaneous CUSIP Descri.tion Units Price Commissions SEC Fees Fees Federal Tax Cost Net Cash Amount Amount Short Term Long Term Gain/Loss Gain/Loss Amount Amount 01/23/2020 06406FAA1 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - - 302,508.00 (179.36) - - 01/23/2020 01/21/2020 01/23/2020 SOLD PAR VALUE OF BANK OF NY MTN 2.500% 4/15/21 /US 06406FAA1 BANCORP INVESTMENTS INC./300,000 PAR VALUE AT 100.836 % -300,000.0000 1.008360 - - 301,356.92) - 1,151.08 01/23/2020 01/23/2020 RECEIVED ACCRUED INTEREST ON SALE OF BANK OF NY MTN 06406FAA1 2.500% 4/15/21 ' 0.0000 0.000000 - - - 2,041.67 - - - 01/23/2020 INTEREST EARNED ON CITIBANK NA 3.400% 7/23/21 $1 PV ON 17325FAQ1 250000.0000 SHARES DUE 1/23/2020 0.0000 0.000000 - - - 4,250.00 - - - 01/23/2020 AMORTIZED PREMIUM ON CITIBANK NA 3.400% 7/23/21 17325FAQ1 CURRENT YEAR AMORTIZATION i 0.0000 0.000000 - - - - (151.48) - - 01/23/2020 01/23/2020 01/23/2020 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 308,799.6700 1.000000 - - - (308,799.67) 308,799.67 - - 01/24/2020 01/23/2020 01/24/2020 PURCHASED PAR VALUE OF F F C B DEB 2.000% 1/21/25 3130AHWB5 /CITIGROUP GLOBAL MARKETS INC./500,000 PAR VALUE AT 100 % 500,000.0000 1.000000 - - - (500,000.00) 500,000.00 - - 01/24/2020 01/24/2020 PAID ACCRUED INTEREST ON PURCHASE OF F F C B DEB 3130AHWB5 2.000% 1/21/25 0.0000 0.000000 - - - (83.33) - - - 01/24/2020 01/24/2020 01/24/2020 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 5,648.6700 1.000000 - - - (5,648.67) 5,648.67 - - 01/24/2020 01/24/2020 01/24/2020 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 1,645.7800 1.000000 - - - (1,645.78) 1,645.78 - - 01/24/2020 INTEREST EARNED ON US BANCORP MTN 2.576% 1/24/22 $1 PV 91159HHQ6 ON 250000.0000 SHARES DUE 1/24/2020 - 0.0000 0.000000 - - - 1,645.78 - - - 01/24/2020 AMORTIZED PREMIUM ON US BANCORP MTN 2.576% 1/24/22 91159HHQ6 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (37.71) - - 01/24/2020 01/24/2020 01/23/2020 AMORTIZED PREMIUM ON U S TREASURY NT 1.750% 7/31/21 9128287F1 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (203.37) - - 01/24/2020 SOLD PAR VALUE OF U S TREASURY NT 1.750% 7/31/21 /HSBC 9128287F1 SECURITIES, INC./500,000 PAR VALUE AT 100.304688 % -500,000.0000 1.003047 - - - 501,523.44 (501,142.24) 381.20 - 01/24/2020 01/24/2020 RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 9128287F1 1.750% 7/31/21 0.0000 0.000000 - - - 4,208.56 - - - 01/27/2020 TRUST FEES COLLECTED CHARGED FOR PERIOD 12/01/2019 THRU 12/31/2019 COLLECTED BY DISBURSEMENT 0.0000 0.000000 - - - (559.48) - - - 01/27/2020 INTEREST EARNED ON BMW VEHICLE OWNER 1.920% 1/25/24 $1 PV ON 528.0000 SHARES DUE 1/25/2020 $0.00160/PV ON 330,000.00 PV 05588CAC6 DUE 1/25/20 0.0000 0.000000 - - - 528.00 - - - 01/27/2020 INTEREST EARNED ON BANK OF AMERICA MTN 3.335% 1/25/23 $1 PV 06050TMJ8 ON 520000.0000 SHARES DUE 1/25/2020 0.0000 0.000000 - - - 8,671.00 - - - 01/27/2020 INTEREST EARNED ON F N M A GTD REMIC 2.29568% 9/25/21 $1 PV ON 420.8700 SHARES DUE 1/25/2020 $0.00191/PV ON 141,867.74 PV 3136B1XP4 DUE 1/25/20 0.0000 0.000000 - - - 420.87 - - - 01/27/2020 AMORTIZED PREMIUM ON F N M A GTD REMIC 2.29568% 9/25/21 3136B1XP4 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (54.44) - - 01/27/2020 01/25/2020 01/27/2020 3136B1XP4 PAID DOWN PAR VALUE OF F N M A GTD REMIC 2.29568% 9/25/21 -2,185.2800 0.000000 - - - 2,185.28 (2,206.56) - (21.28) 01/27/2020 INTEREST EARNED ON F N M A GTD REMIC 2.29568% 9/25/21 $1 PV 3136B1XP4 ON 141867.7400 SHARES DUE 1/25/2020 PENALTY PAYMENT 0.0000 0.000000 - - - 6.77 - - - 01/27/2020 INTEREST EARNED ON F H L M C MULTICLASS 2.373% 5/25/22 $1 PV ON 375.7300 SHARES DUE 1/25/2020 $0.00198/PV ON 190,000.00 PV 3137ATRW4 DUE 1/25/20 0.0000 0.000000 - - - 375.73 =- 01/27/2020 AMORTIZED PREMIUM ON F H L M C MULTICLASS 2.373% 5/25/22 3137ATRW4 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - 24.38 - 01/27/2020 INTEREST EARNED ON F H L M C MLTCL MTG 2.522% 1/25/23 $1 PV ON 325.5200 SHARES DUE 1/25/2020 $0.00210/PV ON 154,887.14 PV 3137B1U75 DUE 1/25/20 0.0000 0.000000 - - 325.52- 01/27/2020 AMORTIZED PREMIUM ON F H L M C MLTCL MTG 2.522% 1/25/23 3137B1U75 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - 14.10 - - 01/27/2020 01/25/2020 01/27/2020 3137B1U75 PAID DOWN PAR VALUE OF F H L M C MLTCL MTG 2.522% 1/25/23 -418.7400 1,801.811172 - - - (420.48) (1.7- 01/27/2020 INTEREST EARNED ON F H L M C MLTCL MTG 3.320% 2/25/23 $1 PV 3137B36J2 ON 480000.0000 SHARES DUE 1/25/2020 0.0000 0.000000 - - 1,328.00 - - - 01/27/2020 AMORTIZED PREMIUM ON F H L M C MLTCL MTG 3.320% 2/25/23 3137B36J2 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - (405.36) - - 01/27/2020 INTEREST EARNED ON F H L M C MLTCL MTG 2.272% 1/25/23 $1 PV ON 473.3300 SHARES DUE 1/25/2020 $0.00189/PV ON 250,000.00 PV 3137BQR90 DUE 1/25/20 0.0000 0.000000 - - - 473.33 - - - 01/27/2020 AMORTIZED PREMIUM ON F H L M C MLTCL MTG 2.272% 1/25/23 3137BQR90 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (15.47) - - 01/27/2020 INTEREST EARNED ON F H L M C MLTCL 6.17141% 5/25/23 $1 PV ON 1090.6900 SHARES DUE 1/25/2020 $0.00514/PV ON 212,079.11 PV 3137FJYA1 DUE 1/25/20 0.0000 0.000000 - - - 1,090.69 - - - 01/27/2020 01/25/2020 01/27/2020 3137FJYA1 PAID DOWN PAR VALUE OF F H L M C MLTCL 6.17141% 5/25/23 -31,479.4000 0.000000 - - - 31,479.40 (31,478.55) - 0.85 01/27/2020 01/27/2020 01/27/2020 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 44,664.8200 1.000000 - - - (44,664.82) 44,664.82 - - 01/27/2020 01/27/2020 01/27/2020 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 2,079.0300 1.000000 - - - (2,079.03) 2,079.03 - - 257 Page 38 of 45 111FRIVERSIDE COUNTY TRANSPORTATION COMMISSION Payden & Rygel Operating Portfolio Transaction Report Quarter ended March 31, 2020 Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COMM Transaction Settlement Date Trade Date Date CUSIP Descri.tion Units Price Miscellaneous Commissions SEC Fees Fees Federal Tax Cost Net Cash Amount Amount Short Term Long Term Gain/Loss Gain/Loss Amount Amount 01/28/2020 01/21/2020 01/28/2020 PURCHASED PAR VALUE OF BANK OF NY MTN 1.850% 1/27/23 06406RAM9 /MORGAN STANLEY & CO. LLC/300,000 PAR VALUE AT 99.93 % 300,000.0000 0.999300 - - - (299,790.00) 299,790.00 - - - - 01/28/2020 01/28/2020 01/28/2020 31846V203 SOLD UNITS OF FIRST AM GOVT OB FD CL Y MN -299,790.0000 1.000000 - - - 299,790.00 (299,790.00) - 01/29/2020 01/29/2020 01/29/2020 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 406,590.5300 1.000000 - - - (406,590.53) 406,590.53 - 01/29/2020 01/21/2020 01/29/2020 PURCHASED PAR VALUE OF MERCEDES BENZ AUTO 1.840% 12/15/22 /MITSUBISHI UFJ SECURITIES USA/140,000 PAR VALUE AT 58770FAC6 99.98682143 % 140,000.0000 0.999868 - - - (139,981.55) 139,981.55 - - 01/29/2020 AMORTIZED PREMIUM ON U S TREASURY NT 1.750% 7/31/21 9128287F1 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - 34.29) - - 01/29/2020 01/28/2020 01/29/2020 SOLD PAR VALUE OF U S TREASURY NT 1.750% 7/31/21 /HSBC 9128287F1 SECURITIES, INC./540,000 PAR VALUE AT 100.35156296 % -540,000.0000 1.003516 - - - 541,898.44 (541,223.20) 675.24 - 01/29/2020 01/29/2020 RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 9128287F1 1.750% 7/31/21 0.0000 0.000000 - - - 4,673.64 - - - 01/30/2020 IP 01/29/2020 01/30/2020 PURCHASED PAR VALUE OF F F C B DEB 1.780% 7/13/23 3133ELGR9 /CITIGROUP GLOBAL MARKETS INC./530,000 PAR VALUE AT 99.975 % 530,000.0000 0.999750 - - - (529,867.50) 529,867.50 - - 01/30/2020 01/30/2020 PAID ACCRUED INTEREST ON PURCHASE OF F F C B DEB 3133ELGR9 1.780% 7/13/23 0.0000 0.000000 - - - (445.49) - - - 01/30/2020 01/28/2020 01/30/2020 PURCHASED PAR VALUE OF F N M A 1.750% 1/30/23 3135G0X73 /CITIGROUP GLOBAL MARKETS INC./540,000 PAR VALUE AT 100 % 540,000.0000 1.000000 - - - (540,000.00) 540,000.00 - - 01/30/2020 01/30/2020 01/30/2020 31846V203 SOLD UNITS OF FIRST AM GOUT OB FD CL Y -540,000.0000 1.000000 - - - 540,000.00 (540,000.00) - - 01/30/2020 01/30/2020 01/30/2020 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 6,307.5100 1.000000 - - - (6,307.51) 6,307.51 - - 01/30/2020 AMORTIZED PREMIUM ON U S TREASURY NT 1.750% 7/31/21 9128287F1 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (4.76) - - 01/30/2020 01/29/2020 01/30/2020 SOLD PAR VALUE OF U S TREASURY NT 1.750% 7/31/21 /HSBC 9128287F1 SECURITIES, INC./530,000 PAR VALUE AT 100.37890566 % -530,000.0000 1.003789 - - - 532,008.20 (531,371.19) 637.01 - 01/30/2020 01/30/2020 RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 9128287F1 1.750% 7/31/21 0.0000 0.000000 - - - 4,612.30 - - - 01/31/2020 01/31/2020 01/31/2020 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 5,206.2500 1.000000 - - - (5,206.25) 5,206.25 - - 01/31/2020 INTEREST EARNED ON U S TREASURY NT 1.750% 7/31/21 $1 PV ON 9128287F1 595000.0000 SHARES DUE 1/31/2020 0.0000 0.000000 - - 5,206.25 - - - 01/31/2020 AMORTIZED PREMIUM ON U S TREASURY NT 1.750% 7/31/21 9128287F1 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - (2.41)- 02/03/2020 INTEREST EARNED ON CONTRA COSTA CA 1.652% 8/01/22 $1 PV 212204JC6 ON 300000.0000 SHARES DUE 2/1/2020 0.0000 0.000000 - - - 1,913.57 - - - 02/03/2020 02/03/2020 02/03/2020 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y al 22,084.5300 1.000000 - - - (22,084.53) 22,084.53 - - 02/03/2020 INTEREST EARNED ON FIRST AM GOVT OB FD CL Y UNIT ON 0.0000 31846V203 SHARES DUE 1/31/2020 INTEREST FROM 1/1/20 TO 1/31/20 0.0000 0.000000 - - - 381.25 - - - 02/03/2020 INTEREST EARNED ON GARDEN GROVE CA 1.875% 8/01/21 $1 PV 365298Y28 ON 300000.0000 SHARES DUE 2/1/2020 0.0000 0.000000 - - - 1,640.63 - - - 02/03/2020 INTEREST EARNED ON LOS ALTOS CA SCH 2.143% 8/01/23 $1 PV 544290JC4 ON 390000.0000 SHARES DUE 2/1/2020 0.0000 0.000000 - - - 2,414.45 - - - 02/03/2020 INTEREST EARNED ON MASSACHUSETTS ST WTR 1.772% 8/01/23 $1 576051VW3 PV ON 110000.0000 SHARES DUE 2/1/2020 0.0000 0.000000 - - - 487.30 - - - 02/03/2020 INTEREST EARNED ON PALO ALTO CA 2.291% 8/01/20 $1 PV ON 697379UD5 325000.0000 SHARES DUE 2/1/2020 0.0000 0.000000 - - - 3,722.88 - - - 02/03/2020 INTEREST EARNED ON SAN BERNARDINO CA 1.883% 8/01/22 $1 PV 796720ME7 ON 435000.0000 SHARES DUE 2/1/2020 0.0000 0.000000 - - - 1,114.89 - - - 02/03/2020 INTEREST EARNED ON SAN FRANCISCO CITY 2.000% 8/01/20 $1 PV 79770GGM2 ON 300000.0000 SHARES DUE 2/1/2020 0.0000 0.000000 - - - 3,000.00 - - - 02/03/2020 INTEREST EARNED ON SAN JOSE CA REDEV 2.259% 8/01/20 $1 PV 798170AC0 ON 190000.0000 SHARES DUE 2/1/2020 0.0000 0.000000 - - - 2,146.05 - 02/03/2020 INTEREST EARNED ON SONOMA CNTY CA 1.969% 8/01/22 $1 PV 835569GP3 ON 420000.0000 SHARES DUE 2/1/2020 0.0000 0.000000 - - - 1,814.76 -- - 02/03/2020 INTEREST EARNED ON TEXAS ST REF WTR 2.036% 8/01/20 $1 PV 882723UC1 ON 250000.0000 SHARES DUE 2/1/2020 0.0000 0.000000 - - - 2,545.00 - 02/03/2020 AMORTIZED PREMIUM ON TEXAS ST REF WTR 2.036% 8/01/20 882723UC1 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - 46.81 - - 02/03/2020 INTEREST EARNED ON U S DEPT HSG & URB 2.570% 8/01/21 $1 PV 911759MU9 ON 100000.0000 SHARES DUE 2/1/2020 0.0000 0.000000 - - - 1,285.00 - - - 02/04/2020 02/04/2020 02/04/2020 31846V203 PURCHASED UNITS OF FIRST AM GOVT GB FD CL Y 4,431.2500 1.000000 - - - (4,431.25) 4,431.25 - - 02/04/2020 7. 1 INTEREST EARNED ON US BANK NA MTN 3.000% 2/04/21 $1 PV ON 90331HPA5 270000.0000 SHARES DUE 2/4/2020 0.0000 0.000000 - - - 4,050.00 - - - 02/05/2020 02/05/2020 02/05/2020 31846V203 SOLD UNITS OF FIRST AM GOVT OB FD CL Y -106,038.5800 1.000000 - - - 106,038.58 (106,038.58) - - 02/05/2020 AMORTIZED PREMIUM ON U S TREASURY NT 2.750% 8/15/21 9128284W7 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (32.01) - - 02/05/2020 02/03/2020 02/05/2020 SOLD PAR VALUE OF U S TREASURY NT 2.750% 8/15/21 /BOFA 9128284W7 SECURITIES, INC./FXD INC/1,165,000 PAR VALUE AT 101.96484378 % -1,165,000.0000 1.019648 - - - 1,187,890.43 (1,165,226 388 22,664.05 02/05/2020 02/05/2020 RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 9128284W7 2.750% 8/15/21 r[ Q� 4.9080 0.000000 - - - 15,148.17 - Page 39 of 45 111FRIVERSIDE COUNTY TRANSPORTATION COMMISSION Payden & Rygel Operating Portfolio Transaction Report Quarter ended March 31, 2020 Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COMM Transaction Settlement Date Trade Date Date CUSIP Miscellaneous Descri.tion Units Price Commissions SEC Fees Fees Net Cash Amount Amount Short Term Federal Tax Cost Gain/Loss Amount Long Term Gain/Loss Amount 02/05/2020 AMORTIZED PREMIUM ON U S TREASURY NT 1.750% 7/31/21 9128287F1 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (13.30) - - 02/05/2020 02/03/2020 02/05/2020 SOLD PAR VALUE OF U S TREASURY NT 1.750% 7/31/21 /HSBC 9128287F1 SECURITIES, INC./595,000 PAR VALUE AT 100.45312437 %-595,000.0000 1.004531 - - - 597,696.09 (596,395.39) 1,300.70 - 02/05/2020 02/05/2020 RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 9128287F1 1.750% 7/31/21 0.0000 0.000000 - - - 143.03 - - - 02/05/2020 ACCREDITED DISCOUNT ON U S TREASURY NT 1.500% 8/31/21 912828YC8 MARKET DISCOUNT • 0.0000 0.000000 - - - - 279.09 - - 02/05/2020 02/03/2020 02/05/2020 SOLD PAR VALUE OF U S TREASURY NT 1.500% 8/31/21 /CITIGROUP GLOBAL MARKETS INC./815,000 PAR VALUE AT 912828YC8 100.08984417 %-815,000.0000 1.000898 - - - 815,732.23 (814,252.72 1,479.51 - 02/05/2020 02/05/2020 RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 912828YC8 1.500% 8/31/21 0.0000 0.000000 - - - - 5,306.46 02/05/2020 02/03/2020 02/05/2020 PURCHASED PAR VALUE OF U S TREASURY NT 1.500% 1/15/23 /BOFA SECURITIES, INC./FXD INC/2,715,000 PAR VALUE AT 912828Z29 100.39062505 % 2,715,000.0000 1.003906 - - - (2,725,605.47) 2,725,605.47 - - 02/05/2020 02/05/2020 PAID ACCRUED INTEREST ON PURCHASE OF U S TREASURY NT 912828Z29 1.500% 1/15/23 0.0000 0.000000 - - - (2,349.52) - - - 02/07/2020 02/06/2020 02/07/2020 PURCHASED PAR VALUE OF F H L M C M T N 1.970% 2/06/25 3134GU7H7 /CITIGROUP GLOBAL MARKETS INC./530,000 PAR VALUE AT 100 % 530,000.0000 1.000000 - - - (530,000.00) 530,000.00 - - 02/07/2020 02/07/2020 PAID ACCRUED INTEREST ON PURCHASE OF F H L M C M T N 3134GU7H7 1.970% 2/06/25 0.0000 0.000000 - - - - - (29.00) - 02/07/2020 02/07/2020 02/07/2020 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 3,341.2900 1.000000 - - - (3,341.29) 3,341.29 - - 02/07/2020 02/06/2020 02/07/2020 SOLD PAR VALUE OF U S TREASURY NT 1.500% 8/31/21 /HSBC 912828YC8 SECURITIES, INC./530,000 PAR VALUE AT 99.97656226 %-530,000.0000 0.999766 - - - 529,875.78 (529,648.05) 227.73 - 02/07/2020 02/07/2020 RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 912828YC8 1.500% 8/31/21 0.0000 0.000000 - - - 3,494.51 - - - 02/12/2020 02/12/2020 02/12/2020 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y - 271,951.8700 1.000000 - - - (271,951.87) 271,951.87 - - 02/12/2020 02/11/2020 02/12/2020 SOLD PAR VALUE OF U S TREASURY NT 1.500% 8/31/21 /HSBC 912828YC8 SECURITIES, INC./270,000 PAR VALUE AT 100.04297037 %-270,000.0000 1.000430 - - - 270,116.02 (269,820.70) 295.32 - ' 02/12/2020 02/12/2020 RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 912828YC8 1.500% 8/31/21 0.0000 0.000000 - - - 1,835.85 - - - 02/14/2020 02/11/2020 02/14/2020 PURCHASED PAR VALUE OF F H L B 1.750% 2/14/23 /INTL 3130AJ5Q8 FCSTONE FINL INC./BD RATE/270,000 PAR VALUE AT 100 % 270,000.0000 1.000000 - - - (270,000.00) 270,000.00 - - 02/14/2020 02/14/2020 02/14/2020 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 57,262.0000 1.000000 - - - (57,262.00) 57,262.00 - - 02/14/2020 02/13/2020 02/14/2020 SOLD PAR VALUE OF U S TREASURY NT 1.500% 8/31/21 /NOMURA 912828YC8 SECURITIES/FIX INCOME/325,000 PAR VALUE AT 100.00781231 %-325,000.0000 1.000078 - - - 325,025.39 (324,784.18) 241.21 - 02/14/2020 02/14/2020 RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 912828YC8 1.500% 8/31/21 0.0000 0.000000 - - - 2,236.61 - - - 02/18/2020 02/13/2020 02/18/2020 PURCHASED PAR VALUE OF ALAMEDA CNTY CA 3.095% 6/01/23 010831DQ5 /RAYMOND JAMES/FI/130,000 PAR VALUE AT 104.405 % 130,000.0000 1.044050 - - - (135,726.50) 135,726.50- 02/18/2020 02/18/2020 PAID ACCRUED INTEREST ON PURCHASE OF ALAMEDA CNTY CA 010831DQ5 3.095% 6/01/23 0.0000 0.000000 - - - (860.58) 02/18/2020 INTEREST EARNED ON EXXON MOBIL 1.902% 8/16/22 $1 PV ON 30231GBB7 300000.0000 SHARES DUE 2/16/2020 0.0000 0.000000 - - - 2,853.00 - - - 02/18/2020 . INTEREST EARNED ON F H L B DEB 1.500% 8/15/24 $1 PV ON 3130AGWK7 150000.0000 SHARES DUE 2/15/2020 0.0000 0.000000 - - - 1,118.75 Mai- - 02/18/2020 02/18/2020 02/18/2020 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 93,958.9900 1.000000 - - - (93,958.99) 93,958.99 - - 02/18/2020 02/18/2020 02/18/2020 31846V203 SOLD UNITS OF FIRST AM GOVT OB FD CL Y -128,718.0300 1.000000 - - - 128,718.03 (128,718.03) - 02/18/2020 INTEREST EARNED ON HARLEY DAVIDSON 2.340% 2/15/24 $1 PV ON 1150.5000 SHARES DUE 2/15/2020 $0.00195/PV ON 590,000.00 PV 41284WAC4 DUE 2/15/20 0.0000 0.000000 - - - 1,150.50 - - 02/18/2020 INTEREST EARNED ON HONDA AUTO 1.790% 9/20/21 $1 PV ON 104.4300 SHARES DUE 2/18/2020 $0.00149/PV ON 70,009.90 PV DUE 43814PAC4 2/18/20 0.0000 0.000000 - - - 104.43 02/18/2020 02/18/2020 02/18/2020 43814PAC4 PAID DOWN PAR VALUE OF HONDA AUTO 1.790% 9/20/21-7,605.5400 54.509235 - - - 7,605.54 (7,604.72) - 0.82 02/18/2020 INTEREST EARNED ON HONDA AUTO 1.780% 8/15/23 $1 PV ON 370.8300 SHARES DUE 2/15/2020 $0.00148/PV ON 250,000.00 PV DUE 43815NAC8 2/15/20 0.0000 0.000000 - - - 370.83 - - 02/18/2020 INTEREST EARNED ON JOHN DEERE OWNER 1.780% 4/15/21 $1 PV ON 44.2300 SHARES DUE 2/15/2020 $0.00148/PV ON 29,814.75 PV 47787XAC1 DUE 2/15/20 0.0000 0.000000 - - - 44.23 - - - 02/18/2020 02/15/2020 02/18/2020 47787XAC1 PAID DOWN PAR VALUE OF JOHN DEERE OWNER 1.780% 4/15/21-14,303.8500 28.983258 - - - 14,303.85 (14,301.82) - 2.03 02/18/2020 INTEREST EARNED ON JOHN DEERE OWNER 2.910% 7/17/23 $1 PV ON 630.5000 SHARES DUE 2/15/2020 $0.00243/PV ON 260,000.00 PV 47789JAD8 DUE 2/15/20 0.0000 0.000000 - - - 630.50 - - - 02/18/2020 INTEREST EARNED ON MERCEDES BENZ 1.940% 3/15/24 $1 PV ON 436.5000 SHARES DUE 2/15/2020 $0.00162/PV ON 270,000.00 PV 58769TAD7 DUE 2/15/20 0.000000 - - - 436.50 - - - JJ Page 40 of 45 IIIFRIVERSIDE COUNTY TRANSPORTATION COMMISSION Payden & Rygel Operating Portfolio Transaction Report Quarter ended March 31, 2020 Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COMM Transaction Settlement Date Trade Date Date CUSIP Descri.tion Units Price Miscellaneous Commissions SEC Fees Fees Federal Tax Cost Net Cash Amount Amount Short Term Long Term Gain/Loss Gain/Loss Amount Amount 02/18/2020 IN I CIN I t .I INtU UN IVItKUCUCJ tit NL AU I U "I.n4U7o "I LII,/LL yl PV ON 114.4900 SHARES DUE 2/15/2020 $0.00082/PV ON 140,000.00 58770FAC6 PV DUE 2/15/20 0.0000 0.000000 - - - 114.49 - - - - - - _ - 02/18/2020 INTEREST EARNED ON NISSAN AUTO LEASE 3.250% 9/15/21 $1 PV ON 541.6700 SHARES DUE 2/15/2020 $0.00271/PV ON 200,000.00 PV 65478BAD3 DUE 2/15/20 0.0000 0.000000 - - - 541.67 - 02/18/2020 INTEREST EARNED ON NISSAN AUTO 3.220% 6/15/23 $1 PV ON 1207.5000 SHARES DUE 2/15/2020 $0.00268/PV ON 450,000.00 PV 65478NAD7 DUE 2/15/20 0.0000 0.000000 - - - 1,207.50 - 02/18/2020 INTEREST EARNED ON NISSAN AUTO 2.900% 10/16/23 $1 PV ON 773.3300 SHARES DUE 2/15/2020 $0.00242/PV ON 320,000.00 PV DUE 65479KAD2 2/15/20 0.0000 0.000000 - - - 773.33 - - 02/18/2020 INTEREST EARNED ON STATE STREET CORP 2.550% 8/18/20 $1 PV 857477AS2 ON 788000.0000 SHARES DUE 2/18/2020 0.0000 0.000000 - - - 10,047.00 - - - 02/18/2020 AMORTIZED PREMIUM ON STATE STREET CORP 2.550% 8/18/20 857477AS2 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (395.99) - - 02/18/2020 INTEREST EARNED ON TOYOTA AUTO 1.730% 2/16/21 $1 PV ON 68.2000 SHARES DUE 2/15/2020 $0.00144/PV ON 47,305.94 PV DUE 89238MAD0 2/15/20 0.0000 0.000000 - - - 68.20 - - - 02/18/2020 02/15/2020 02/18/2020 89238MAD0 PAID DOWN PAR VALUE OF TOYOTA AUTO 1.730% 2/16/21 -17,428.7500 23.786684 - - - 17,428.75 (17,426.70) - 2.05 02/18/2020 INTEREST EARNED ON TOYOTA AUTO 1.910% 9/15/23 $1 PV ON 397.9200 SHARES DUE 2/15/2020 $0.00159/PV ON 250,000.00 PV DUE 89238UAD2 2/15/20 0.0000 0.000000 - - - 397.92 - - - 02/18/2020 INTEREST EARNED ON TOYOTA AUTO 2.910% 7/17/23 $1 PV ON 824.5000 SHARES DUE 2/15/2020 $0.00243/PV ON 340,000.00 PV DUE 89239AAD5 2/15/20 0.0000 0.000000 - - - 824.50 - - - 02/18/2020 INTEREST EARNED ON USAA AUTO OWNER 1.700% 5/17/21 $1 PV ON 21.3300 SHARES DUE 2/15/2020 $0.00142/PV ON 15,053.95 PV 90290AAC1 DUE 2/15/20 0.0000 0.000000 - - - 21.33 - - - 02/18/2020 02/15/2020 02/18/2020 90290AAC1 PAID DOWN PAR VALUE OF USAA AUTO OWNER 1.700% 5/17/21 -7,847.7200 0.000000 - - - 7,847.72 (7,846.90) - 0.82 02/18/2020 INTEREST EARNED ON U S TREASURY NT 1.500% 8/15/22 $1 PV ON 912828YA2 4525000.0000 SHARES DUE 2/15/2020 0.0000 0.000000 - - - 33,937.50 - - - 02/18/2020 AMORTIZED PREMIUM ON U S TREASURY NT 1.500% 8/15/22 912828YA2 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - (237.57)- 02/19/2020 02/11/2020 02/19/2020 PURCHASED PAR VALUE OF CAPTIAL ONE PRIME 1.600% 11/15/24 14043MAC5 /RBC CAPITAL MARKETS, LLC/290,000 PAR VALUE AT 99.97874138 % 290,000.0000 0.999787 - - - (289,938.35) 289,938.35 - - 02/19/2020 02/19/2020 02/19/2020 31846V203 SOLD UNITS OF FIRST AM GOVT OB FD CL Y -289,938.3500 1.000000 - - - 289,938.35 (289,938.35) - - 02/20/2020 INTEREST EARNED ON BMW VEHICLE LEASE 2.070% 10/20/20 $1 PV ON 26.8300 SHARES DUE 2/20/2020 $0.00173/PV ON 15,556.33 PV 05584PAD9 DUE 2/20/20 0.0000 0.000000 - - - 26.83 - - - 02/20/2020 02/20/2020 02/20/2020 05584PAD9 PAID DOWN PAR VALUE OF BMW VEHICLE LEASE 2.070% 10/20/20 -15,079.4300 0.000000 - - - 15,079.43 (15,079.42) - 0.01 02/20/2020 02/20/2020 02/20/2020 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 15,106.2600 1.000000 - - - (15,106.26) 15,106.26 - - 02/21/2020 02/21/2020 02/21/2020 31846V203 SOLD UNITS OF FIRST AM GOVT OB FD CL Y -6,119.3800 1.000000 - - - 6,119.38 (6,119.38) - - 02/21/2020 02/19/2020 02/21/2020 PURCHASED PAR VALUE OF SAN FRANCISCO CA 2.375% 8/01/22 79770GGP5 /PERSHING LLC/400,000 PAR VALUE AT 101.657 % 400,000.0000 1.016570 - - - (406,628.00) 406,628.00 - - 02/21/2020 02/21/2020 PAID ACCRUED INTEREST ON PURCHASE OF SAN FRANCISCO CA 79770GGP5 2.375% 8/01/22 0.0000 0.000000 - - - (527.78) - - - 02/21/2020 AMORTIZED PREMIUM ON U S TREASURY NT 1.500% 8/15/22 912828YA2 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (39.02) - - 02/21/2020 02/19/2020 02/21/2020 SOLD PAR VALUE OF U S TREASURY NT 1.500% 8/15/22 /HSBC 912828YA2 SECURITIES, INC./400,000 PAR VALUE AT 100.234375 % -400,000.0000 1.002344 - - - 400,937.50 (400,475.90) 461.60 - 02/21/2020 02/21/2020 RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 912828YA2 1.500% 8/15/22 0.0000 0.000000 - - - 98.90 - - - 02/24/2020 TRUST FEES COLLECTED CHARGED FOR PERIOD 01/01/2020 THRU 01/31/2020 COLLECTED BY DISBURSEMENT 0.0000 0.000000 - - - (562.27) - - - 02/24/2020 INTEREST EARNED ON BANK OF NY MTN 1.950% 8/23/22 $1 PV ON 06406RAK3 100000.0000 SHARES DUE 2/23/2020 0.0000 0.000000 - - - 975.00 - - - 02/24/2020 02/24/2020 02/24/2020 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 412.7300 1.000000 - - - (412.73) 412.73 - - 02/25/2020 INTEREST EARNED ON BMW VEHICLE OWNER 1.920% 1/25/24 $1 PV ON 528.0000 SHARES DUE 2/25/2020 $0.00160/PV ON 330,000.00 PV 05588CAC6 DUE 2/25/20 0.0000 0.000000 - - - 528.00 - - - 02/25/2020 INTEREST EARNED ON F N M A GTD REMIC 3.560% 9/25/21 $1 PV ON 414.3900 SHARES DUE 2/25/2020 $0.00297/PV ON 139,682.46 PV 3136B1XP4 DUE 2/25/20 0.0000 0.000000 - - - 414.39- - 02/25/2020 AMORTIZED PREMIUM ON F N M A GTD REMIC 3.560% 9/25/21 3136B1XP4 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (69.24) - - 02/25/2020 02/25/2020 02/25/2020 3136B1XP4 PAID DOWN PAR VALUE OF F N M A GTD REMIC 3.560% 9/25/21 -1,177.0600 0.000000 - - - 1,177.06 (1,187.94) - (10.88) 02/25/2020 INTEREST EARNED ON F N M A GTD 3136B1XP4 ON 139682.4600 SHARES DUE 2/25/2020REMIC $1 PV PENALTY PAYMENT 4fi90 0.000000 - - - 0.84 - - - Page 41 of 45 IIIFRIVERSIDE COUNTY TRANSPORTATION COMMISSION Payden & Rygel Operating Portfolio Transaction Report Quarter ended March 31, 2020 Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COMM Transaction Settlement Date Trade Date Date CUSIP Descri.tion Units Price Miscellaneous Commissions SEC Fees Fees Federal Tax Cost Net Cash Amount Amount Short Term Long Term Gain/Loss Gain/Loss Amount Amount 02/25/2020 IN I CKCJ I CAKINtU UN r 11 L M U MUL I IULAJJ L.J/J %o J/LJ/LL 21 VV ON 375.7300 SHARES DUE 2/25/2020 $0.00198/PV ON 190,000.00 PV 3137ATRW4 DUE 2/25/20 0.0000 0.000000 - - - 375.73 - - - - - 02/25/2020 AMORTIZED PREMIUM ON F H L M C MULTICLASS 2.373% 5/25/22 3137ATRW4 CURRENT YEAR ON 0.0000 0.000000 - - (31.50 - 02/25/2020 INTEREST EARNEDED F H L M ON F H L M C MLTCL MTG 2.522% 1/25/23 $1 PV ON 324.6400 SHARES DUE 2/25/2020 $0.00210/PV ON 154,468.40 PV 3137B1U75 DUE 2/25/20 - _324.64 - 0.0000 0.000000 - - 02/25/2020 3137B1U75 AMORTIZED PREMIUM ON F H L M C MLTCL MTG 2.522% 1/25/23 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - 18.17 - - 02/25/2020 02/25/2020 02/25/2020 • 3137B1U75 PAID DOWN PAR VALUE OF F H L M C MLTCL MTG 2.522% 1/25/23 -420.2900 0.000000 - - 420.29 (421.99) (1.70) - 02/25/2020 3137B36J2 INTEREST EARNED ON F H L M C MLTCL MTG 3.320% 2/25/23 $1 PV ON 480000.0000 SHARES DUE 2/25/2020 0.0000 0.000000 - - 1,326.59 - - - 02/25/2020 3137B36J2 AMORTIZED PREMIUM ON F H L M C MLTCL MTG 3.320% 2/25/23 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - (523.59) - - 02/25/2020 3137BQR90 INTEREST EARNED ON F H L M C MLTCL MTG 2.272% 1/25/23 $1 PV ON 473.3300 SHARES DUE 2/25/2020 $0.00189/PV ON 250,000.00 PV DUE 2/25/20 0.0000 0.000000 - - - 473.33 - - - 02/25/2020 3137BQR90 AMORTIZED PREMIUM ON F H L M C MLTCL MTG 2.272% 1/25/23 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (19.98) - - 02/25/2020 3137FJYA1 INTEREST EARNED ON F H L M C MLTCL 6.17141% 5/25/23 $1 PV ON 6271.5700 SHARES DUE 2/25/2020 $0.03473/PV ON 180,599.71 PV DUE 2/25/20 0.0000 0.000000 - - - 6,271.57 - - - 02/25/2020 02/25/2020 02/25/2020 3137FJYA1 PAID DOWN PAR VALUE OF F H L M C MLTCL 6.17141% 5/25/23 -82,818.6800 9.097978 - - - 82,818.68 (82,816.44) - 2.24 02/25/2020 02/25/2020 02/25/2020 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 3,713.4400 1.000000 - - - (3,713.44) 3,713.44 - - 02/25/2020 02/25/2020 02/25/2020 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 90,417.6800 1.000000 - - (90,417.68) 90,417.68 - - 02/28/2020 02/28/2020 02/28/2020 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 1,249,165.9500 1.000000 - - - (1,249,165.95) 1,249,165.95 - - 02/28/2020 02/26/2020 02/28/2020 65478BAD3 SOLD PAR VALUE OF NISSAN AUTO LEASE 3.250% 9/15/21 /J.P. MORGAN SECURITIES LLC/200,000 PAR VALUE AT 100.82422 % -200,000.0000 1.008242 - - - 201,648.44 (199,982.52) - 1,665.92 02/28/2020 02/28/2020 65478BAD3 RECEIVED ACCRUED INTEREST ON SALE OF NISSAN AUTO LEASE 3.250% 9/15/21 0.0000 0.000000 - - - 234.72 - - - 02/28/2020 02/26/2020 02/28/2020 65478NAD7 SOLD PAR VALUE OF NISSAN AUTO 3.220% 6/15/23 /BARCLAYS CAPITAL INC. FIXED IN/450,000 PAR VALUE AT 102.21093778 % -450,000.0000 1.022109 - - - 459,949.22 (449,913.78) - 10,035.44 02/28/2020 02/28/2020 65478NAD7 RECEIVED ACCRUED INTEREST ON SALE OF NISSAN AUTO 3.220% 6/15/23 0.0000 0.000000 - - - 523.25 - - - 02/28/2020 02/26/2020 02/28/2020 65479KAD2 SOLD PAR VALUE OF NISSAN AUTO 2.900% 10/16/23 /J.P. MORGAN SECURITIES LLC/320,000 PAR VALUE AT 102.1328125 % -320,000.0000 1.021328 - - - 326,825.00 (319,951.52) - 6,873.48 02/28/2020 02/28/2020 65479KAD2 RECEIVED ACCRUED INTEREST ON SALE OF NISSAN AUTO 2.900% 10/16/23 0.0000 0.000000 - - - 335.11 - - - 02/28/2020 02/26/2020 02/28/2020 88579YBF7 SOLD PAR VALUE OF 3M COMPANY MTN 2.750% 3/01/22 /MITSUBISHI UFJ SECURITIES USA/250,000 PAR VALUE AT 102.508 % -250,000.0000 1.025080 - - - 256,270.00 (249,882.50) - 6,387.50 02/28/2020 02/28/2020 88579YBF7 RECEIVED ACCRUED INTEREST ON SALE OF 3M COMPANY MTN 2.750% 3/01/22 0.0000 0.000000 - - - 3,380.21 - - 03/02/2020 13063BFS6 INTEREST EARNED ON CALIFORNIA ST BUILD 6.650% 3/01/22 $1 PV ON 425000.0000 SHARES DUE 3/1/2020 0.0000 0.000000 - - - 14,131.25 - - 03/02/2020 13063BFS6 AMORTIZED PREMIUM ON CALIFORNIA ST BUILD 6.650% 3/01/22 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - 2,663.76 - 03/02/2020 30231GAV4 INTEREST EARNED ON EXXON MOBIL 2.222% 3/01/21 $1 PV ON 500000.0000 SHARES DUE 3/1/2020 0.0000 0.000000 - - - 5,555.00 - 03/02/2020 03/02/2020 03/02/2020 31846V203 SOLD UNITS OF FIRST AM GOVT OB FD CL Y -537,923.3000 1.000000 - - - 537,923.30 (537,923.30) - - 03/02/2020 31846V203 INTEREST EARNED ON FIRST AM GOVT OB FD CL Y UNIT ON 0.0000 SHARES DUE 2/29/2020 INTEREST FROM 2/1/20 TO 2/29/20 0.0000 0.000000 - - - 251.39 03/02/2020 03/02/2020 03/02/2020 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 18,412.5000 1.000000 - - - (18,412.50) 18,412.50 - - 03/02/2020 45750TAG8 INTEREST EARNED ON INLAND VLY CA DEV 3.627% 3/01/20 $1 PV ON 230000.0000 SHARES DUE 3/1/2020 0.0000 0.000000 - - - 4,171.05- 03/02/2020 45750TAG8 AMORTIZED PREMIUM ON INLAND VLY CA DEV 3.627% 3/01/20 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - 244.72) - - 03/02/2020 03/01/2020 03/01/2020 45750TAG8 MATURED PAR VALUE OF INLAND VLY CA DEV 3.627% 3/01/20 230,000 PAR VALUE AT 100 % -230,000.0000 1.000000 - - - 230,000.00 (230,000.00) - - 03/02/2020 801096AP3 INTEREST EARNED ON SANTA ANA CA CMNTY 3.346% 9/01/21 $1 PV ON 240000.0000 SHARES DUE 3/1/2020 0.0000 0.000000 - - - 4,015.20 - - - 03/02/2020 02/28/2020 03/02/2020 9128285A4 SOLD PAR VALUE OF U S TREASURY NT 2.750% 9/15/21 /CITADEL SECURITIES LLC/510,000 PAR VALUE AT 102.73828039 % -510,000.0000 1.027383 - - - 523,965.23 (507,948.05) - 16,017.18 03/02/2020 03/02/2020 9128285A4 RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 2.750% 9/15/21 0.0000 0.000000 - - - 6,511.61 - - - 03/02/2020 912828YC8 ACCREDITED DISCOUNT ON U S TREASURY NT 1.500% 8/31/21 MARKET DISCOUNT 4ik8Q0 0.000000 - - - - 159.16 - - Page 42 of 45 111FRIVERSIDE COUNTY TRANSPORTATION COMMISSION Payden & Rygel Operating Portfolio Transaction Report Quarter ended March 31, 2020 Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COMM Transaction Settlement Date Trade Date Date CUSIP Descri.tion Units Price Miscellaneous Commissions SEC Fees Fees Federal Tax Cost Net Cash Amount Amount Short Term Long Term Gain/Loss Gain/Loss Amount Amount 03/02/2020 02/28/2020 03/02/2020 SOLD PAR VALUE OF U S TREASURY NT 1.500% 8/31/21 /CITADEL 912828YC8 SECURITIES LLC/2,455,000 PAR VALUE AT 100.80078126 % -2,455,000.0000 1.008008 - - - 2,474,659.18 (2,452,934.74) 21,724.44 - 03/02/2020 03/02/2020 RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 912828YC8 1.500% 8/31/21 0.0000 0.000000 - - - 200.14 - - - 03/02/2020 INTEREST EARNED ON U S TREASURY NT 1.500% 8/31/21 $1 PV ON 912828YC8 2455000.0000 SHARES DUE 2/29/2020 0.0000 0.000000 - - - 18,412.50 - - - 03/02/2020 02/28/2020 03/02/2020 SOLD PAR VALUE OF U S TREASURY NT 1.500% 9/30/21 /CITADEL 912828YJ3 SECURITIES LLC/545,000 PAR VALUE AT 100.875 % -545,000.0000 1.008750 - - - 549,768.75 (543,687.95) 6,080.80 - 03/02/2020 03/02/2020 RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 912828YJ3 1.500% 9/30/21 0.0000 0.000000 - - 3,439.75 - - - 03/02/2020 03/02/2020 02/27/2020 03/02/2020 AMORTIZED PREMIUM ON U S TREASURY NT 1.500% 1/15/23 912828Z29 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - (258.83) - - SOLD PAR VALUE OF U S TREASURY NT 1.500% 1/15/23 /CITADEL 912828Z29 SECURITIES LLC/490,000 PAR VALUE AT 101.24218776 % -490,000.0000 1.012422 - - - 496,086.72 491,867.35) 4,219.37 - 03/02/2020 03/02/2020 RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 912828Z29 1.500% 1/15/23 0.0000 0.000000 - - - :-9.04 - - 03/02/2020 02/28/2020 03/02/2020 PURCHASED PAR VALUE OF U S TREASURY NT 1.375% 2/15/23 912828Z86 /CITADEL SECURITIES LLC/4,775,000 PAR VALUE AT 101.53906241 % 4,775,000.0000 1.015391 - - - (4,848,490.23) 4,848,490.23- 03/02/2020 03/02/2020 PAID ACCRUED INTEREST ON PURCHASE OF U S TREASURY NT 912828Z86 1.375% 2/15/23 0.0000 0.000000 - - - (2,885.99) 03/03/2020 INTEREST EARNED ON CHEVRON CORP 2.4355% 3/03/22 $1 PV 166764AU4 ON 500000.0000 SHARES DUE 3/3/2020 0.0000 0.000000 - - - 3,078.20 - - - 03/03/2020 AMORTIZED PREMIUM ON CHEVRON CORP 2.4355% 3/03/22 166764AU4 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - (210.58) - - 03/03/2020 02/27/2020 03/03/2020 PURCHASED PAR VALUE OF F H L M C MLTCL MTG 3.060% 7/25/23 3137B4WB8 /GOLDMAN SACHS & CO. LLC/490,000 PAR VALUE AT 104.95312449 % 490,000.0000 1.049531 - - - (514,270.31) 514,270.31 - - 03/03/2020 03/03/2020 PAID ACCRUED INTEREST ON PURCHASE OF F H L M C MLTCL MTG 3137B4WB8 3.060% 7/25/23 0.0000 0.000000 - - - (83.30) - - - 03/03/2020 03/03/2020 03/03/2020 31846V203 SOLD UNITS OF FIRST AM GOUT OB FD CL Y -511,024.0200 1.000000 - - - 511,024.02 (511,024.02)- 03/06/2020 • INTEREST EARNED ON F N M A 1.375% 9/06/22 $1 PV ON 313500W33 600000.0000 SHARES DUE 3/6/2020 0.0000 0.000000 - - - 4,125.00 - - - 03/06/2020 03/06/2020 03/06/2020 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 4,125.0000 1.000000 - - - (4,125.00) 4,125.00 - - 03/09/2020 03/09/2020 03/09/2020 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 5,661.8800 1.000000 - - - (5,661.88) 5,661.88 - - 03/09/2020 INTEREST EARNED ON WELLS FARGO MTN 2.082% 9/09/22 $1 PV 94988J6A0 ON 550000.0000 SHARES DUE 3/9/2020 0.0000 0.000000 - - - 5,661.88 - - 03/10/2020 03/10/2020 03/10/2020 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y AL 112,504.9400 1.000000 - - - (112,504.94) 112,504.94 03/10/2020 03/09/2020 03/10/2020 SOLD PAR VALUE OF U S TREASURY NT 1.500% 9/30/21 /CITADEL 912828YJ3 SECURITIES LLC/110,000 PAR VALUE AT 101.61328182 % -110,000.0000 1.016133 - - - 111,774.61 (109,735.18) 2,039.43 03/10/2020 03/10/2020 RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 912828YJ3 1.500% 9/30/21 0.0000 0.000000 - - - 730.33 - 03/11/2020 INTEREST EARNED ON APPLE INC 1.700% 9/11/22 $1 PV ON 037833DL1 525000.0000 SHARES DUE 3/11/2020 0.0000 0.000000 - - - 4,462.50 - - 03/11/2020 03/11/2020 03/11/2020 31846V203 SOLD UNITS OF FIRST AM GOVT OB FD CL Y -425,511.2300 1.000000 - - - 425,511.23 (425,511.23) PURCHASED PAR VALUE OF JOHN DEERE OWNER 1.100% 8/15/24 03/11/2020 03/04/2020 03/11/2020 47789KAC7 /SOFA SECURITIES, INC./FXD INC/430,000 PAR VALUE AT 99.9938907 % 430,000.0000 0.999939 - - - (429,973.73) 429,973.73 - - 03/16/2020 INTEREST EARNED ON AUTOMATIC DATA 2.250% 9/15/20 $1 PV 053015AD5 ON 450000.0000 SHARES DUE 3/15/2020 0.0000 0.000000 - - - 5,062.50 - - 03/16/2020 AMORTIZED PREMIUM ON AUTOMATIC DATA 2.250% 9/15/20 053015AD5 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - 426.36- 03/16/2020 INTEREST EARNED ON BERKSHIRE HATHAWAY 2.200% 3/15/21 $1 084670B00 PV ON 471000.0000 SHARES DUE 3/15/2020 0.0000 0.000000 - - - 5,181.00 03/16/2020 INTEREST EARNED ON CAPTIAL ONE PRIME 1.600% 11/15/24 $1 PV ON 335.1100 SHARES DUE 3/15/2020 $0.00116/PV ON 290,000.00 PV 14043MAC5 DUE 3/15/20 0.0000 0.000000 - - - 335.11 - - - 03/16/2020 03/16/2020 03/16/2020 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 7,604.1500 1.000000 - - - (7,604.15) 7,604.15 - - 03/16/2020 03/16/2020 03/16/2020 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 45,785.0200 1.000000 - - - (45,785.02) 45,785.02 - - 03/16/2020 INTEREST EARNED ON HARLEY DAVIDSON 2.340% 2/15/24 $1 PV ON 1150.5000 SHARES DUE 3/15/2020 $0.00195/PV ON 590,000.00 PV 41284WAC4 DUE 3/15/20 0.0000 0.000000 - - - 1,150.50 - -- - 03/16/2020 INTEREST EARNED ON HONDA AUTO 1.780% 8/15/23 $1 PV ON 370.8300 SHARES DUE 3/15/2020 $0.00148/PV ON 250,000.00 PV DUE 43815NAC8 3/15/20 0.0000 0.000000 - - - 370.83 - 03/16/2020 INTEREST EARNED ON JOHN DEERE OWNER 1.780% 4/15/21 $1 PV ON 23.0100 SHARES DUE 3/15/2020 $0.00148/PV ON 15,510.90 PV 47787XAC1 DUE 3/15/20 0.0000 0.000000 - - - 23.01- - 03/16/2020 03/15/2020 03/16/2020 47787XAC1 PAID DOWN PAR VALUE OF JOHN DEERE OWNER 1.780% 4/15/21 -10,15i.k7SQ 0.000000 - - - 10,157.07 (10,155.62) - 1.45 Page 43 of 45 IIIFRIVERSIDE COUNTY TRANSPORTATION COMMISSION Payden & Rygel Operating Portfolio Transaction Report Quarter ended March 31, 2020 Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COMM Transaction Settlement Date Trade Date Date CUSIP Descri.tion Units Price Miscellaneous Commissions SEC Fees Fees Federal Tax Cost Net Cash Amount Amount Short Term Long Term Gain/Loss Gain/Loss Amount Amount 03/16/2020 IIN I CKCJ I CHKIVCU ON JUMN UCCKC UVVIVCK L.U-1U7o // I //LS yl YV ON 630.5000 SHARES DUE 3/15/2020 $0.00243/PV ON 260,000.00 PV 47789JAD8 DUE 3/15/20 0.0000 0.000000 - - - 630.50 - 436.50 - - - - - - - - - - - 03/16/2020 INTEREST EARNED ON MERCEDES BENZ 1.940% 3/15/24 $1 PV ON 436.5000 SHARES DUE 3/15/2020 $0.00162/PV ON 270,000.00 PV 58769TAD7 DUE 3/15/20 0.0000 0.000000 - - 03/16/2020 INTEREST EARNED ON MERCEDES BENZ AUTO 1.840% 12/15/22 $1 PV ON 214.6700 SHARES DUE 3/15/2020 $0.00153/PV ON 140,000.00 58770FAC6 PV DUE 3/15/20 0.0000 0.000000 - - - - 03/16/2020 INTEREST EARNED ON PECO ENERGY CO 2.375% 9/15/22 $1 PV 693304AP2 ON 120000.0000 SHARES DUE 3/15/2020 0.0000 0.000000 - - - 1,425.00 03/16/2020 AMORTIZED PREMIUM ON PECO ENERGY CO 2.375% 9/15/22 693304AP2 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - 03/16/2020 INTEREST EARNED ON PFIZER INC 3.000% 9/15/21 $1 PV ON 717081EM1 250000.0000 SHARES DUE 3/15/2020 0.0000 0.000000 - - 3,750.00- - - 03/16/2020 INTEREST EARNED ON TOYOTA AUTO 1.730% 2/16/21 $1 PV ON 43.0700 SHARES DUE 3/15/2020 $0.00144/PV ON 29,877.19 PV DUE 89238MAD0 3/15/20 0.0000 0.000000 - - - 43.07 - - 03/16/2020 03/15/2020 03/16/2020 89238MAD0 PAID DOWN PAR VALUE OF TOYOTA AUTO 1.730% 2/16/21 -16,170.5500 0.000000 - - - 16,170.55 (16,168.64) - 1.91 03/16/2020 INTEREST0EARNED UE TOYOTA AUTO 1.910% % 9$1 PV DON SHARES DUE 3/15/2020 $0.00159/PV ON 250,000.00 PV DUE UE 89238UAD2 3/15/20 0.0000 0.000000 - - - 397.92 - 03/16/2020 INTEREST EARNED ON TOYOTA AUTO 2.910% 7/17/23 $1 PV ON 824.5000 SHARES DUE 3/15/2020 $0.00243/PV ON 340,000.00 PV DUE 89239AAD5 3/15/20 INTEREST EARNED ON USAA AUTO OWNER 1.700% 5/17/21 $1 PV 0.0000 0.000000 - - - 824.50 - - - 03/16/2020 0.0000 0.000000 - - - 10.21 - - - ON 10.2100 SHARES DUE 3/15/2020 $0.00142/PV ON 7,206.23 PV 90290AAC1 DUE 3/15/20 03/16/2020 03/16/2020 03/16/2020 PAID DOWN PAR VALUE OF USAA AUTO OWNER 1.700% 5/17/21 90290AAC1 CMO FINAL PAYDOWN -7,206.2300 0.000000 - - - 7,206.23 (7,205.47) - 0.76 03/18/2020 03/18/2020 03/18/2020 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 7,431.0000 1.000000 - - - (7,431.00) 7,431.00 - - 03/18/2020 INTEREST EARNED ON HONDA AUTO 1.790% 9/20/21 $1 PV ON 93.0900 SHARES DUE 3/18/2020 $0.00149/PV ON 62,404.36 PV DUE 43814PAC4 3/18/20 0.0000 0.000000 - - - 93.09 - - - 03/18/2020 03/18/2020 03/18/2020 43814PAC4 PAID DOWN PAR VALUE OF HONDA AUTO 1.790% 9/20/21 -7,337.9100 0.000000 - - - 7,337.91 (7,337.11) - 0.80 03/20/2020 03/20/2020 03/20/2020 PAID DOWN PAR VALUE OF BMW VEHICLE LEASE 2.070% 10/20/20 05584PAD9 CMO FINAL PAYDOWN -476.9000 0.000000 - - - 476.90 (476.90) - - 03/20/2020 I INTEREST EARNED ON BMW VEHICLE LEASE 2.070% 10/20/20 $1 PV ON 0.8200 SHARES DUE 3/20/2020 $0.00173/PV ON 476.90 PV DUE 05584PAD9 3/20/20 0.0000 0.000000 - - - 0.82 - - - 03/20/2020 03/20/2020 03/20/2020 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 0.8200 1.000000 - - - (0.82) 0.82 - - 03/20/2020 03/20/2020 03/20/2020 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 476.9000 1.000000 - - - (476.90) 476.90 - - 03/25/2020 TRUST FEES COLLECTED CHARGED FOR PERIOD 02/01/2020 THRU 02/29/2020 COLLECTED BY DISBURSEMENT 0.0000 0.000000 - - - (566.96) - - - 03/25/2020 INTEREST EARNED ON BMW VEHICLE OWNER 1.920% 1/25/24 $1 PV ON 528.0000 SHARES DUE 3/25/2020 $0.00160/PV ON 330,000.00 PV 05588CAC6 DUE 3/25/20 0.0000 0.000000 - - - 528.00 - - - 03/25/2020 INTEREST EARNED ON F N M A GTD REMIC 3.560% 9/25/21 $1 PV ON 410.9000 SHARES DUE 3/25/2020 $0.00297/PV ON 138,505.40 PV 3136B1XP4 DUE 3/25/20 0.0000 0.000000 - - - 410.90 - - - 03/25/2020 AMORTIZED PREMIUM ON F N M A GTD REMIC 3.560% 9/25/21 3136B1XP4 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (64.22) - - 03/25/2020 03/25/2020 03/25/2020 3136B1XP4 PAID DOWN PAR VALUE OF F N M A GTD REMIC 3.560% 9/25/21 -2,284.5800 0.000000 - - - 2,284.58 (2,304.63) - (20.05) 03/25/2020 INTEREST EARNED ON F N M A GTD REMIC 3.560% 9/25/21 $1 PV 3136B1XP4 ON 138505.4000 SHARES DUE 3/25/2020 PENALTY PAYMENT 0.0000 0.000000 - - - 4.90 - - - 03/25/2020 INTEREST EARNED ON F H L M C MULTICLASS 2.373% 5/25/22 $1 PV 3137ATRW4 ON 190000.0000 SHARES DUE 3/25/2020 0.0000 0.000000 - - - 375.73 - - - 03/25/2020 AMORTIZED PREMIUM ON F H L M C MULTICLASS 2.373% 5/25/22 3137ATRW4 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (29.46) - INTEREST EARNED ON F H L M C MLTCL MTG 2.522% 1/25/23 $1 PV ON 323.7600 SHARES DUE 3/25/2020 $0.00210/PV ON 154,048.11 PV 03/25/2020 3137B1U75 DUE 3/25/20 0.0000 0.000000 - - - 323.76 - - - 03/25/2020 AMORTIZED PREMIUM ON F H L M C MLTCL MTG 2.522% 1/25/23 3137B1U75 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (16.95) 03/25/2020 03/25/2020 03/25/2020 313761 U75 PAID DOWN PAR VALUE OF F H L M C MLTCL MTG 2.522% 1/25/23 -470.8800 0.000000 - - - 470.88 (472.73) (1.85) 03/25/2020 INTEREST EARNED ON F H L M C MLTCL MTG 3.320% 2/25/23 $1 PV ON 1326.6700 SHARES DUE 3/25/2020 $0.00277/PV ON 480,000.00 PV 3137B36J2 DUE 3/25/20 0.0000 0.000000 - - - 1 326.67 03/25/2020 AMORTIZED PREMIUM ON F H L M C MLTCL MTG 3.320% 2/25/23 3137B36J2 CURRENT YEAR AMORTIZATION 1.jO6J1 0.000000 - - - - (489.80) - - Page 44 of 45 IIIFRIVERSIDE COUNTY TRANSPORTATION COMMISSION Payden & Rygel Operating Portfolio Transaction Report Quarter ended March 31, 2020 Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COMM Transaction Settlement Date Trade Date Date CUSIP Descri.tion Units Price Miscellaneous Commissions SEC Fees Fees Federal Tax Cost Net Cash Amount Amount Short Term Long Term Gain/Loss Gain/Loss Amount Amount 03/25/2020 3137BQR90 IN ICKCJI CAKINCU UN r I -I L M U ML IUL M I U L.L/L"/o l/LJ/LJ yI YV ON 473.3300 SHARES DUE 3/25/2020 $0.00189/PV ON 250,000.00 PV DUE 3/25/20 0.0000 0.000000 - - - 473.33 - - - - 03/25/2020 3137BQR90 AMORTIZED PREMIUM ON F H L M C MLTCL MTG 2.272% 1/25/23 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - (18.69 03/25/2020 3137FJYA1 INTEREST EARNED ON F H L M C MLTCL 3.454% 5/25/23 $1 PV ON 281.4500 SHARES DUE 3/25/2020 $0.00288/PV ON 97,781.03 PV DUE 3/25/20 0.0000 - 281.45 - 0.000000 - - - - 03/25/2020 03/25/2020 03/25/2020 3137FJYA1 PAID DOWN PAR VALUE OF F H L M C MLTCL 3.454% 5/25/23 -825.6100 0.000000 - - - 825.61 (825.59) - 0.02 03/25/2020 03/25/2020 03/25/2020 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 1,707.3000 1.000000 - - - (1,707.30) 1,707.30 - - 03/25/2020 03/25/2020 03/25/2020 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 5,031.5500 1.000000 - - - (5,031.55) 5,031.55 - - 03/27/2020 03/27/2020 03/27/2020 31846V203 SOLD UNITS OF FIRST AM GOVT OB FD CL Y -19,972.8000 1.000000 - - - 19,972.80 (19,972.80) - - 03/27/2020 03/25/2020 03/27/2020 654106AH6 PURCHASED PAR VALUE OF NIKE INC SR NT 2.400% 3/27/25 /BOFA SECURITIES, INC./FXD INC/20,000 PAR VALUE AT 99.864 % 20,000.0000 0.998640 - - - (19,972.80) 19,972.80 - - 03/31/2020 03/31/2020 03/31/2020 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 19,237.5000 1.000000 - - - (19,237.50) 19,237.50 - - 03/31/2020 912828YJ3 INTEREST EARNED ON U S TREASURY NT 1.500% 9/30/21 $1 PV ON 2565000.0000 SHARES DUE 3/31/2020 0.0000 0.000000 - - - 19,237.50 - - - Total - - - (0.00) 382,735.26 39,758.27 64,761.79 264 Page 45 of 45 ATTACHMENT 17 Riverside County Transportation Commission SHORT DURATION FIXED INCOME APRIL 23, 2020 Scott Pavlak, CFA— Portfolio Management Erin Klepper — Client Service 1 MetLife Investment Management 265 Table of Contents 01 MetLife Investment Management Overview 02 Market Review 03 Portfolio Review 04 Appendix MetLife Investment Management 266 2 1. MetLife Investment Management Overview A MetLife Investment Management 3 267 Overview MetLife Investment Management (MIM)1 manages Public Fixed Income, Private Capital and Real Estate assets for institutional investors worldwide by applying our deep asset class expertise to build tailored portfolio solutions. We also leverage the broader resources and 150-year history of MetLife to skillfully navigate markets. IM Highlights Total Assets Under Management of $600.0 billion2 as of December 31, 2019 Separate accounts, proprietary commingled funds and client -specific portfolio solutions Experienced and tenured investment teams Deep fundamental research Leverages the broader resources of the MetLife enterprise Philadelphia Santiago Global Presence1'3 Whippany London Tokyo Hong Kong S.A.R. 1.As of December 31, 2019, subsidiaries of MetLife, Inc. that provide investment management services to MetLife's general account, separate accounts and/or unaffiliated/third party investors include Metropolitan Life Insurance Company, MetLife Investment Management, LLC, MetLife Investment Management Limited, MetLife Investments Limited, MetLife Investments Asia Limited, MetLife Latin America Asesorias e Inversiones Limitada, MetLife Asset Management Corp. (Japan), and MIM I LLC. 2.As of December 31, 2019. At estimated fair value. 3.IIIustration shown depicts locations of select MIM regional offices, chosen in MIM's discretion; not a complete representation of MIM's regional offices. See Appendix— End Notes for non-GAAP financial information, definitions and/or reconciliations. MetLife Investment Management 4 268 2. Market Review & Outlook A MetLife Investment Management 269 Current Themes GDP Effects of Covid-19 virus shutdowns will likely impact growth for at least several quarters and lead to a recession. We are not in the "V-shaped" recovery camp and believe the negative impacts could last longer than many anticipate and longer -term changes to the economy will evolve from this pandemic. In this unprecedented period, we feel economic numbers over the short run are less relevant given the nature of this self-imposed disruption. The severity of a recession will depend largely on the duration of the shutdown and its impact on the U.S. consumer, who has historically been the main driver of growth. Employment Feeling the immediate impact of the nearly nationwide business shutdowns, unemployment is set to spike to levels not seen since the financial crisis and likely higher. While the CARES package recently passed by Congress incentivizes businesses to retain employees, we have already witnessed an unprecedented increase in new unemployment claims, which does not bode well for the next several months. In the short run, companies may decide to furlough employees with pay but eventually we believe the realities of cash flow (or lack thereof) will hit certain industries extremely hard as "social distancing" likely lingers for some time. Inflation While central banks around the world have changed their playbooks for some time to spark inflation, their efforts to date have been largely unsuccessful. Market -based measures such as Treasury Inflation -Protected Securities (TIPS) breakeven rates have recently declined and at some points currently yield more than maturity -matched nominal Treasuries. A slowing of the global economy along with the recent failure of OPEC+ to come to an agreement prolongs the return to central banks' inflation targets. While the passage of the $2 trillion fiscal package and more possibly in the works may potentially augur inflation given the significant deficit financing that would be needed, we still believe inflation is likely to remain muted near term. Monetary & Fiscal Policy The Federal Reserve has eased monetary policy, increased quantitative easing programs and announced several programs designed to provide liquidity to a wide segment of the market. Congress followed with a fiscal stimulus rescue package (approximately 9% of GDP) targeted to help both businesses and consumers. We believe this accommodative environment will be here to stay throughout 2020. With the experience of the 2008 still fresh in people's minds, we find the aggressiveness, speed and size of policy actions taken to date to be commendable. Still, these actions are not expected to resolve the current crisis by themselves or collectively, but having the Fed acting as a backstop or buyer of last resort for many assets may help prove supportive in the near term. Consumer Consumers entered the shutdown in very good shape and will be supported in the near term by generous unemployment benefits and various measures included in the rescue package recently enacted by Congress. An extended shutdown, however, would weigh heavily on both consumer confidence and household balance sheets while dampening the speed of the eventual rebound as debts accumulate faster than jobs rematerialize. In early March, OPEC+ failed to reach an agreement which sent oil below $30 per barrel. While lower oil prices are generally a positive for consumers and industrial production, the Energy industry has also become a significant employer throughout the fracking boom years in many Energy patch regions across the United States. Business Black Swan events (oil price collapse and spread of COVID-19) have conspired to disrupt almost all businesses. Elevated leverage will weigh on operating fundamentals as strong debt service coverage ratios deteriorate with declining revenue streams. Effects will vary but the Airline, Automotive, Energy, Restaurant, and Retail sectors will be likely particularly hard hit. As distressed ratios have significantly risen, we expect defaults to follow, especially of those companies needing access to capital. Historically, in the investment grade space though, it has been rare to see companies directly default. We do however expect downward ratings pressure and more companies crossing over into high yield (commonly referred to as Fallen Angels). We continue to focus on more domestically driven, non -cyclical sectors including Banks, Healthcare, Technology, Telecommunications and Utilities. While low rates, net interest margin compression and rising credit costs may pressure bank earnings, the strength of their balance sheets may leave them relatively unscathed over the coming quarters. We believe the bank regulations instituted since the financial crisis have made banks part of the solution this time around and not the cause. Residential / Commercial Real Estate Expectations for annual home price growth rates have reset to 0-2% on a national level. Despite record low interest rates, headline mortgage rates to consumers are sticky at current levels with originators challenged by both capacity constraints and operational disruptions caused by the virus. Realized prepayments could fall below prepayment model expectations for the duration of the crisis. Forbearance programs for mortgage borrowers present financial challenges for mortgage servicers obligated to advance cash flows to securitized trusts. Retail and lodging properties stand at the epicenter of the virus with performance metrics collapsing across the board. Multi -family properties are challenged by the prospect of record unemployment and increasing pressure to provide "rent holidays". Office properties are faced with long-term demand shifts as businesses successfully implement work -from -home policies. We continue to favor AAA -rated securities with ample credit enhancement, performance triggers and/or Agency backing. The views present are MetLife Investment Management's only, are subject to change, and may not reflect the manager's current views. Past performance is not indicative of future results. There can be no assurance that the views expressed above will prove accurate and should not be relied upon as a reliable indicator of future events. Any securities mentioned are for informational purposes only and do not represent a recommendation or an offer to buy, hold or sell any securities, and may not be held in client portfolios. Any performance or portfolio holdings cited here were current as of the date stated and are subject to change. MetLife Investment Management 6 270 Yields As of March 31, 2020 2.60 2.50% 2.00% 1.50% 1.00% 0.50% 0.00% 1.45 3-Month USD LIBOR ■ 3/31 /2019 Source: Bloomberg MetLife Investment Management 2.39 0.09 U.S. Treasury 3-Month 6/30/2019 2.26 1.76 U.S. Treasury 2-Year ■ 9/30/2019 271 2.23 U.S. Treasury 5-Year ■ 12/31/2019 U.S. Treasury 10-Year 3/31/2020 7 Yield Curves As of March 31, 2020 5-Year Less 2-Year Basis Points 175 150 125 100 75 50 25 0 -25 0 0� 0�O 0� 00 0� 0 O\ OV OO OP` OD OHO Ok OO 0 � '� <V <O '��` <6 <O '� �O N N <b Pb (O (P (15,LO 95) (P (O ,LO 19 cO (O 95) ,LO 95) O O �O 5-Year Less 2-Year Fed Tightening Recession — — - 5-Year Less 2-Year Avg. 13 10-Year Less 3-Month 400 300 200 o_ v) 100 .0) m 0 -100 �00 �°,00, �OOO �0ck �°O() �OO �0'1 �°'b �00 OOO OOP OOP OOO OOP OOh OOO Oc \ O: O0 ,O ,\'\ ,-1, ,'3 � ^h ti ti ti ti r ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti 10-Year Less 3-Month Fed Tightening Recession 10-Year Less 3-Month Avg. Source: Bloomberg MetLife Investment Management 272 8 World Interest Rates As of March 31, 2020 Country 3-Month United States Canada United Kingdom Italy Spain France Germany Switzerland Japan Australia 0.09% 0.21 % NA -0.05% -0.23% -0.50% -0.71 % NA -0.30% NA 2-Year 0.25% 0.42% 0.12% 0.33% -0.20% -0.60% -0.70% -0.68% -0.15% 0.25% 5-Year 0.38% 0.58% 0.20% 0.91 % 0.15% -0.35% -0.66% -0.60% -0.12% 0.34% 10-Year 0.67% 0.69% 0.35% 1.52% 0.67% -0.02% -0.47% -0.38% 0.01 % 0.76% 30-Year 1.32% 1.30% 0.82% 2.44% 1.51% 0.77% 0.02% -0.19% 0.42% 1.63% Source: Bloomberg MetLife Investment Management 273 9 Federal Reserve Programs Program Description Counterparty/ Who does it help? Rate Program Size Monetary Policy Treasury QE Open Market Treasury Purchases MBS QE Fed Funds Open Market Agency MBS Purchases Cut Rates to Help Recovery Treasury Market N/A Unlimited MBS Market Economy N/A 0-0.25bp Unlimited N/A Liquidity Measures Discount Window Discount Window Central Bank Swap Lines Fed Swap Lines With Foreign Central Banks Depository Institutions 25bp Foreign/Central banks OIS+25bp Repos Repo Operations with Dealers Primary dealers IOER & OIS FIMA Repo Facility Repo Operations with Foreign/Int'I Monetary Authorities Foreign & int'I monetary authorities IOER +25bp Facilities CPFF Commercial Paper Funding Facility Commercial Paper Issuers PDCF OIS+110bp OIS+200bp N/A Primary Dealer Credit Facility Primary Dealers 25bp N/A PPPLF Paycheck Protection Program Lending Facility Depository Institutions 35bp $350bn MMLF Money Market Mutual Fund Liquidity Facility Money Market Funds 125bp for CP, 50bp for Municipals PMCCF Primary Market Corporate Credit Facility US IG & Fallen Angel Market rates Issuers 1% commitment fee SMCCF Secondary Market Corporate Credit Facility TALF US IG Credit & Fallen Angel Market N/A $500bn /$750bn Max Prevailing market rates $250bn/$750bn Max Term Asset -Backed Securities Loan Facility US ABS Market & Issuers OIS+125bp $100bn MSLF Main Street Lending Facility Small Medium Sized Enterprises (SMEs) SOFR + 250-400bp $600bn MLF Municipal Liquidity Program US States, Cities, Counties Note: All figures in $ billions. Maximum usage reflects data since Fed cut rates to zero. (Fed H.4.1 release). Source: Federal Reserve, TD, Barclays MetLife Investment Management 274 Based on rating $500bn 10 Central Bank Assets As of April 17, 2020 0 m 18,000 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0 oweir-r 411111•01 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 ECB FED • BOJ $5,621 $6,368 $5,718 Central Bank 12/31/2008 12/31/2014 12/31/2017 12/31/2018 12/31/2019 4/17/20 European Central Bank $2,855 $2,601 $5,368 $5,354 $5,261 $5,718 Federal Reserve Bank of Japan $2,239 $4,498 $4,448 $4,076 $4,174 $6,368 $1,354 $2,506 $4,627 $5,033 $5,276 $5,621 Total $6,448 $9,605 $14,444 $14,463 $14,711 $17,708 Source: European Central Bank, Federal Reserve, Bank of Japan MetLife Investment Management 275 11 U.S. Recession Probability As of March 31, 2020 100% 90% 80% 70% 60% 50% 40% 30% I 20% 10% 0% 1960 r \kJ 1965 1970 1975 1980 1985 Recession Source: New York Federal Reserve Iv MetLife Investment Management 1990 276 1995 2000 2005 2010 Probability of U.S. Recession 2015 2020 12 U.S. Labor As of April 11, 2020 Continuing Claims N/A 11,976,000 7,446,000 1,775,000 1,687,000 1,847,000 2,060,000 2,207,000 4,679,000 4-Week Moving Average N/A 6,066,250 3,497,750 1,736,000 1,702,750 1,894,750 2,063,250 2,203,750 4,522,250 Initial Claims 5,245,000 6,615,000 6,867000 220,000 228,000 243,000 236,000 276,000 533,000 4-Week Moving Average 5,508,500 4,267,750 2,666,750 226,000 216,500 238,250 250,750 271,000 564,000 Source: Department of Labor `` MetLife Investment Management 277 13 U.S. Labor & Average Earnings As of March 31, 2020 Current Average (2017 — 2020) Labor Force Participation Rate Unemployment Rate Non -Farm Payroll 62.7% 63.0% 4.4% 4.0% (701,000) 162,667 U.S. Average Hourly Earnings Year over Year 3.9% 3.4% 2.9% 2.4% 1.9% —Average Hourly Earnings, All Employees Source: Bureau of Labor Statistics II- MetLife Investment Management 278 Average Hourly Earnings, Prod. & Non -Supervisory 14 U.S. Inflation As of March 31, 2020 CPI Core Breakdown 3.5% 2.6% 2.9% 2.8% O O 2.1% 2.2% -1.5% Dec-14 Jun-15 Dec-15 Jun-16 Dec-16 Jun-17 Dec-17 Jun-18 Dec-18 Jun-19 Dec-19 —All Items (Less Food and Energy) Goods (Less Food and Energy) Services (Less Energy Services) -0.2% Commodities 160 140 120 100 80 60 40 20 1,577 1,850 1,650 1,450 1,250 1,050 850 650 450 0 20.22 250 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Source: Bureau of Labor Statistics, Bloomberg MetLife Investment Management WTI - Crude Oil (LHS) 279 Gold (RHS) 0 U ^L 0 15 ■E Consumer Confidence and S&P 500 As of March 31, 2020 140 135 130 125 120 115 110 105 2,044 100 95 96.3 90 2015 Source: Bloomberg 2016 Consumer Confidence (LHS) ' MetLife Investment Management 2017 280 2018 —S&P 500 Index (RHS) 2019 3,250 3,050 2,850 120.0 2,650 2,585 2,450 2,250 2,050 1,850 16 Short Duration Cross Sector Relative Value As of December 26, 2019 Category WAL Min (Years) (bps) Credit (1-5 Year) 0verail 2.5 61 Financiais 2.5 62 Utilities 2.5 70 Industrials 2.5 59 Banking 2.5 59 Telecom 2.5 56 Municipals (1-5 Year) Taxable 2.5 57 Agency RMBS CMO PAC 3.0 60 CMO Sequentials 3.0 61 Date Range: 01/03/2019 to 12/26/2019 ♦ ♦ ♦ I♦ Max BOY EOY Spread Change (bps) (bps) (bps) (bps) ♦ ABS Auto Floorplan AAA 3.0 32 Auto Lease AAA 3.0 38 Auto Prime AAAL 3.0 25 Auto SubPrime AAAL 3.0 39 Credit Card AAAL 3.0 24 Equipment AAA 3.0 39 GABS CMBS Agency AAA 3.0 23 Conduit AAA 3.0 35 Source: ICE Data Services, MetLife Investment Management Past performance is not indicative of future results. MetLife Investment Management • 114 114 61 -53 116 116 62 -54 132 125 70 -55 113 113 59 -54 114 114 59 -55 112 112 56 -56 89 83 58 -25 74 70 63 -7 79 78 65 -13 • 63 60 59 -1 63 56 49 -7 53 51 42 -9 • • • 281 73 71 51 -20 38 38 28 -10 67 56 56 0 41 34 37 3 58 56 46 -10 17 Short Duration Cross Sector Relative Value As of March 31, 2020 Category WAL Min Max BOP EOP Spread Change (Years] (bps) Date Range: 01/02/2020 to 03/31/2020 (bps) (bps) (bps) (bps) Credit (1-5Year) Overall 2.5 58 • 363 61 304 243 Financial 2.5 59 • 376 63 285 222 Utility 2.5 66 • 313 70 286 216 Industrial 2.5 57 • 362 59 319 260 M unicipals (1-5 Year) Taxable 2.5 44 • 220 60 220 160 AgencyRM BS CM O PAC CM 0 Sequentials 3.0 56 • 106 63 94 31 3.0 60 • 110 65 98 33 ABS Auto FloorplanAAA 3.0 45 Auto Lease AAA 3.0 30 Auto PrimeAAAL 3.0 24 Auto SubPrimeAAAL 3.0 40 Credit CardAAAL 3.0 21 Equipment AAA 3.0 33 • 400 59 400 341 • 237 48 187 139 • 220 40 132 92 • 237 50 197 147 • 220 28 110 82 • 230 55 177 122 CM BS CMBSAgencyAAA 3.0 20 • 150 35 84 49 Conduit AAA 3.0 37 • 210 43 177 134 Source: ICE Data Services, MetLife Investment Management Past performance is not indicative of future results. MetLife Investment Management 282 18 ICE BofA Corporate 1-5 Year Index As of March 31, 2020 Basis Points 450 400 350 300 250 200 150 100 50 Dec-13 Jun-14 Dec-14 Jun-15 Dec-15 Jun-16 Dec-16 Jun-17 Dec-17 Jun-18 Dec-18 Jun-19 Dec-19 165 304 OAS (bps) 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Corporate (1-5) 174 70 61 65 62 196 639 166 136 227 110 89 99 121 96 61 114 61 304 Financial(1-5) 165 51 50 57 56 212 663 204 158 308 126 93 96 104 100 60 116 63 285 Industrial(1-5) 176 86 73 75 69 181 624 135 116 164 96 85 103 134 92 61 112 59 319 Utility(1-5) 236 79 63 73 71 175 576 155 131 169 110 99 89 120 101 64 126 70 286 Past performance is not indicative of future results. Source: ICE Data Services MetLife Investment Management 283 19 3. Portfolio Review A MetLife Investment Management 20 284 Portfolio Performance) - 2017 Toll Revenue I-15 Project Fund As of March 31, 2020 Yield to Maturity 1.78% Duration 0.20 Years Average Quality (Moody's) Aa2 Portfolio Market Value $58,040,739 Yield to Maturity Duration Average Quality (Moody's) Portfolio Market Value M110001E 1.32% 0.20 Years Aa1 $52,582,103 Asset Allocation 12/31/19 26% • Corporate 23% Municipal Agency • RMBS CMBS ABS • Treasury CP • CD Asset Allocation 3/31/20 50% 9% • Corporate Municipal Agency • RMBS CMBS ABS • Treasury CP • CD Portfolio Performance) 2017 Toll Revenue 1-15 Project Fund (Gross of Fees) 2017 Toll Revenue 1-15 Project Fund (Net of Fees) FTSE 3-Month Treasury Bill 0.19% Feb 0.20% Mar 0.04% 0.18% 0.19% 0.03% 0.13% 0.13% QTD 0.43% Since Inception Annualized (8/1/2017) 2.01% 0.41% 1.91% 0.13% 0.39% 1.86% 1. Past performance is not indicative of future results. The Since Inception performance returns of the portfolio is as of the first full month following the funding date. The performance benchmark shown for the Riverside County 1-15 Express Lanes 2017 Toll Revenue Project Portfolio is the FTSE 6-Month U.S. Treasury Bill, which tracks the return of a six-month Treasury Bill to maturity and the FTSE 3-Month Treasury Bill, which tracks the return of a three-month Treasury Bill to maturity and is shown for discussion purposes only. �4 MetLife Investment Management 285 21 Portfolio Performance) - 2o13 SR-91 Project Residual As of March 31, 2020 Yield to Maturity 1.82% Duration 1.30 Years Average Quality (Moody's) Aa1 Portfolio Market Value $23,951,083 Yield to Maturity Duration Average Quality (Moody's) Portfolio Market Value MIP"MI 1.28% 1.08 Years Aa1 $26,703,468 Asset Allocation 12/31/19 10% 21% Corporate • Municipal • Agency RMBS CMBS • ABS • Treasury Asset Allocation 3/31/20 7% 4% 3% 17% Corporate • Municipal • Agency RMBS CMBS • ABS • Treasury CP Portfolio Performances Riverside County 2013 SR-91 Project Residual Fund (Gross of Fees) Riverside County 2013 SR-91 Project Residual Fund (Net of Fees) ICE BofA U.S. Treasury Index 0-2 Year FTSE 6-Month Treasury Bill 0.45% Feb 0.56% 0.24% QTD 1.26% 0.44% 0.55% 0.23% 1.23% Since Inception Annualized (2/1/2018) 2.92% 2.82% 0.28% 0.50% 0.93% 1.72% 2.98% 0.15% 0.15% 0.13% 0.42% 2.12% 1.Past performance is not indicative of future results. Inception date 1/4/18. Performance returns are calculated as of the first full month following the funding date. The performance benchmark shown for the Riverside County 2013 Residual Fund Portfolio is the ICE BofA 0-2 Year U.S. Treasury Index, which is a broad based index that measures short-term Treasury Notes and Bonds with a maturity range between zero and two years, and the FTSE 6-Month U.S. Treasury Bill, which tracks the return of a six-month Treasury Bill to maturity and is presented for discussion purposes only. MetLife Investment Management 286 22 Portfolio Performance) - 2017 Toll Revenue I-15 Ramp Up Reserve As of March 31, 2020 Yield to Maturity 1.67% Duration 1.29 Years Average Quality (Moody's) Aaa Portfolio Market Value $8,327,060 18% Yield to Maturity Duration Average Quality (Moody's) Portfolio Market Value 0.43% 1.14 Years Aaa $8,461,658 Asset Allocation 12/31/19 16% ■ Treasury • Agency • RMBS • CMBS Asset Allocation 3/31/20 • Treasury Agency • RMBS • CMBS Portfolio Performance) 2017 Toll Revenue 1-15 Ramp Up Reserve (Gross of Fees) 2017 Toll Revenue 1-15 Ramp Up Reserve (Net of Fees) ICE BofA U.S. Treasury Index 0-2 Year IRE 0.46% Feb 0.57% Mar 0.58% 0.46% 0.56% 0.57% 0.28% 0.50% QTD 1.62% 1.59% 0.93% 1.72% Since Inception Annualized (1/1/2018) 3.12% 3.02% 2.87% 1. Past performance is not indicative of future results. Inception date 12/5/17. Performance returns are calculated as of the first full month following the funding date. Performance for periods greater than one year are annualized. The performance benchmark shown for the Riverside County 1-15 Express Lanes Toll Revenue Reserve Portfolio is the ICE BofA 0-2 Year U.S. Treasury Index, which is a broad based index that measures short-term Treasury Notes and Bonds with a maturity range between zero and two years, and is presented for discussion purposes only. 11- MetLife Investment Management 287 23 Portfolio Performance) - Debt Reserve Fund As of March 31, 2020 Yield to Maturity 1.95% Duration 2.95 Years Average Quality (Moody's) Aaa Portfolio Market Value $18,558,814 Yield to Maturity Duration Average Quality (Moody's) Portfolio Market Value 11•11000.1 0.91 % 2.87 Years Aaa $19,143,678 13% Asset Allocation 12/31/19 11% • Treasury Agency • RMBS • CMBS Asset Allocation 3/31/20 OR. .111119RIMIREPr Total Debt Service Fund (Gross of Fees) Total Debt Service Fund (Net of Fees) ICE BofA U.S. Treasury Index 1-3 Year ICE BofA U.S. Treasury Index 3-7 Year 1.16% Feb 1.18% MIME 0.78% 1.15% 1.17% 0.77% 0.54% 0.87% 1.37% QTD 3.15% 3.13% 2.81% 1.71% 1.90% 2.51% 6.25% • Treasury Agency • RMBS • CMBS 10% Since Inception Annualized (8/1 /2013) 2.80% 2.70% 1.59% 3.08% 1.Past performance is not indicative of future results. Performance returns for periods greater than one year are annualized. The performance benchmark shown for the Riverside County Debt Reserve Fund is the ICE BofA US Treasury 3-7 Year, which is a broad -based index consisting of U.S. Treasury securities with an outstanding par greater or equal to $1 billion and a maturity range from three to seven years, and the the ICE BofA 1-3 Year U.S. Treasury Index, which is a broad based index that measures short-term Treasury Notes and Bonds with a maturity range between one and three years, and is presented for discussion purposes only. MetLife Investment Management 288 24 Portfolio Performance) - 91 Subordinate Reserve Account As of March 31, 2020 Yield to Maturity 1.95% Duration 2.41 Years Average Quality (Moody's) Aaa Portfolio Market Value $20,254,180 Yield to Maturity Duration Average Quality (Moody's) Portfolio Market Value 0.84% 2.29 Years Aaa $20,789,568 Total 91 Subordinate Reserve Fund (Gross of Fees) Total 91 Subordinate Reserve Fund (Net of Fees) ICE BofA U.S. Treasury Index 1-3 Year Asset Allocation 12/31/19 21% 1.00% 0.99% ICE BofA U.S. Treasury Index 3-7 Year 0.54% 1.71% 0.93% 0.92% 0.87% 1.90% • Treasury Agency • RMBS • CMBS 0.69% 0.69% 1.37% 2.51% 2.64% 2.62% 2.81 6.25% Asset Allocation 3/31/20 20% 3.81% • Treasury Agency • RMBS • CMBS 3.73% 3.93% 7.49% 1. Past performance is not indicative of future results. The performance benchmark shown for the Riverside County 91 Subordinate Reserve Account is the ICE BofA US Treasury 3-7 Year, which is a broad - based index consisting of U.S. Treasury securities with an outstanding par greater or equal to $1 billion and a maturity range from three to seven years, and the ICE BofA 1-3 Year U.S. Treasury Index, which is a broad based index that measures short-term Treasury Notes and Bonds with a maturity range between one and three years, and is presented for discussion purposes only. MetLife Investment Management 289 25 RCTC Portfolios 2013 SR 91 Reserve and Residual Funds Portfoi' Beginning Market Value (7/3/2013) Net Flows Market Value (3/31/2020) Change in Market Value Debt Service Reserve Fund $17,667,869 ($1,774,770) $19,143,678 $3,250,579 Portfolio Beginning Market Value (7/3/2013) Net Flows Market Value (3/31/2020) Change in Market Value 2013 SR-91 Project Residual Fund $3,292,782 +$22,338,171 $26,703,468 $1,072,515 Portfolio Beginning Market Value (6/6/2019) Net Flows Market Value (3/31/2020) Change in Market Value Subordinate Reserve Account $0 +$20,000,000 $20,789,568 $789,568 2017 1-15 Project FIRM Beginning Market Value (7/24/2017) Net Flows Market Value (3/31/2020) Change in Market Value 2017 Toll Revenue 1-15 Project Fund $98,562,718 ($49,905,972) $52,582,103 $3,925,357 Po Beginning Market Value (12/5/2017) Net Flows Market Value (3/31/2020) Change in Market Value 2017 Toll Revenue 1-15 Ramp Up Reserve $7,723,487 $166,500 $8,461,658 $571,671 Total Project $106,286,205 ($49,739,472) $61,043,761 $4,497,028 ' MetLife Investment Management 290 26 4. Appendix A MetLife Investment Management 27 291 Disclaimers This document is being provided to you at your specific request. This document has been prepared by MetLife Investment Management, LLC, a U.S. Securities Exchange Commission -registered investment adviser. MetLife Investment Management, LLC is a subsidiary of MetLife, Inc. and part of MetLife Investment Management.1 For investors in the EEA, this document is being distributed by MetLife Investment Management Limited ("MIML"), authorised and regulated by the UK Financial Conduct Authority (FCA reference number 623761), registered address Level 34 1 Canada Square London E14 5AA United Kingdom. This document is approved by MIML as a financial promotion for distribution in the UK. This document is only intended for, and may only be distributed to, investors in the EEA who qualify as a Professional Client as defined under the EEA's Markets in Financial Instruments Directive, as implemented in the relevant EEA jurisdiction. The investment strategy described herein is intended to be structured as an investment management agreement between MIML (or its affiliates, as the case may be) and a client, although alternative structures more suitable for a particular client can be discussed. For investors in Japan, this document is being distributed by MetLife Asset Management Corp. (Japan) ("MAM"), a registered Financial Instruments Business Operator ("FIBO") conducting Investment Advisory Business, Investment Management Business and Type II Financial Instruments Business under the registration entry "Director General of the Kanto Local Finance Bureau (Financial Instruments Business Operator) No. 2414" pursuant to the Financial Instruments and Exchange Act of Japan ("FIEA"), and a regular member of the Japan Investment Advisers Association and the Type II Financial Instruments Firms Association of Japan. In its capacity as a discretionary investment manager registered under the FIEA, MAM provides investment management services and also sub -delegates a part of its investment management authority to other foreign investment management entities within MIM in accordance with the FIEA. This document is only being provided to investors in Japan who are Qualified Institutional Investors (tekikaku kikan toshika) as defined in Article 10 of Cabinet Office Ordinance on Definitions Provided in Article 2 of the FIEA. It is the responsibility of each prospective investor to satisfy themselves as to full compliance with the applicable laws and regulations of any relevant territory, including obtaining any requisite governmental or other consent and observing any other formality presented in such territory. MetLife, Inc. provides investment management services to affiliates and unaffiliated/third party clients through various subsidiaries.1 MetLife Investment Management ("MIM"), MetLife, Inc.'s institutional investment management business, has more than 900 investment professionals located around the globe. MIM is responsible for investments in a range of asset sectors, public and privately sourced, including corporate and infrastructure private placement debt, real estate equity, commercial mortgage loans, customized index strategies, structured finance, emerging market debt, and high yield debt. The information contained herein is intended to provide you with an understanding of the depth and breadth of MIM's investment management services and investment management experience. This document has been provided to you solely for informational purposes and does not constitute a recommendation regarding any investments or the provision of any investment advice, or constitute or form part of any advertisement of, offer for sale or subscription of, solicitation or invitation of any offer or recommendation to purchase or subscribe for any securities or investment advisory services. Unless otherwise specified, the information and opinions presented or contained in this document are provided as of the quarter end noted herein. It should be understood that subsequent developments may affect the information contained in this document materially, and MIM shall not have any obligation to update, revise or affirm. It is not MIM's intention to provide, and you may not rely on this document as providing, a complete or comprehensive analysis of MIM's investment portfolio, investment strategies or investment recommendations. No money, securities or other consideration is being solicited. No invitation is made by this document or the information contained herein to enter into, or offer to enter into, any agreement to purchase, acquire, dispose of, subscribe for or underwrite any securities or structured products, and no offer is made of any shares in or debentures of a company for purchase or subscription. Prospective clients are encouraged to seek advice from their legal, tax and financial advisors prior to making any investment. Confidentiality. By accepting receipt or reading any portion of this Presentation, you agree that you will treat the Presentation confidentially. This reminder should not be read to limit, in any way, the terms of any confidentiality agreement you or your organization may have in place with MetLife Investment Management, LLC. This document and the information contained herein is strictly confidential (and by receiving such information you agree to keep such information confidential) and are being furnished to you solely for your information and may not be used or relied upon by any other party, or for any other purpose, and may not, directly or indirectly, be forwarded, published, reproduced, disseminated or quoted to any other person for any purpose without the prior written consent of MIM. Any forwarding, publication, distribution or reproduction of this document in whole or in part is unauthorized. Any failure to comply with this restriction may constitute a violation of applicable securities laws. Past performance is not indicative of future results. No representation is being made that any investment will or is likely to achieve profits or losses or that significant losses will be avoided. There can be no assurance that investments similar to those described in this document will be available in the future and no representation is made that future investments managed by MIM will have similar returns to those presented herein. MetLife Investment Management 292 L04200031 30[exp1020][AII States] 28 Disclaimers (cont.) No offer to purchase or sell securities. This Presentation does not constitute an offer to sell or a solicitation of an offer to buy any security and may not be relied upon in connection with the purchase or sale of any security. No reliance, no update and use of information. You may not rely on this Presentation as the basis upon which to make an investment decision. To the extent that you rely on this Presentation in connection with any investment decision, you do so at your own risk. This Presentation is being provided in summary fashion and does not purport to be complete. The information in the Presentation is provided to you as of the dates indicated and MIM does not intend to update the information after its distribution, even in the event that the information becomes materially inaccurate. Certain information contained in this Presentation, includes performance and characteristics of MIM's by independent third parties, or have been prepared internally and have not been audited or verified. Use of different methods for preparing, calculating or presenting information may lead to different results for the information presented, compared to publicly quoted information, and such differences may be material. Risk of loss. An investment in the strategy described herein is speculative and there can be no assurance that the strategy's investment objectives will be achieved. Investors must be prepared to bear the risk of a total loss of their investment. No tax, legal or accounting advice. This Presentation is not intended to provide, and should not be relied upon for, accounting, legal or tax advice or investment recommendations. Any statements of U.S. federal tax consequences contained in this Presentation were not intended to be used and cannot be used to avoid penalties under the U.S. Internal Revenue Code or to promote, market or recommend to another party any tax -related matters addressed herein. Forward -Looking Statements. This document may contain or incorporate by reference information that includes or is based upon forward -looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward -looking statements give expectations or forecasts of future events. These statements can be identified by the fact that they do not relate strictly to historical or current facts. They use words and terms such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "will," and other words and terms of similar meaning, or are tied to future periods in connection with a discussion of future performance. Forward -looking statements are based MIM's assumptions and current expectations, which may be inaccurate, and on the current economic environment which may change. These statements are not guarantees of future performance. They involve a number of risks and uncertainties that are difficult to predict. Results could differ materially from those expressed or implied in the forward -looking statements. Risks, uncertainties and other factors that might cause such differences include, but are not limited to: (1) difficult conditions in the global capital markets; (2) changes in general economic conditions, including changes in interest rates or fiscal policies; (3) changes in the investment environment; (4) changed conditions in the securities or real estate markets; and (5) regulatory, tax and political changes. MIM does not undertake any obligation to publicly correct or update any forward -looking statement if it later becomes aware that such statement is not likely to be achieved. 1 Subsidiaries of MetLife, Inc. that provide investment management services include Metropolitan Life Insurance Company, MetLife Investment Management, LLC, MetLife Investment Management Limited, MetLife Investments Limited, MetLife Investments Asia Limited, MetLife Latin America Asesorias e Inversiones Limitada, MetLife Asset Management Corp. (Japan), and MIM I LLC. MetLife Investment Management 293 29 End Notes Explanatory Note on Non-GAAP Financial Information In this Fact Sheet, MetLife presents certain measures relating to its assets under management ("AUM") that are not calculated in accordance with accounting principles generally accepted in the United States of America ("GAAP"). MetLife believes that these non-GAAP financial measures enhance the understanding of the depth and breadth of its investment management services on behalf of its general account ("GA") investment portfolio, separate account ("SA") investment portfolios and unaffiliated/third party clients. MetLife uses these measures to evaluate its asset management business. The following non-GAAP financial measures should not be viewed as substitutes for the most directly comparable financial measures calculated in accordance with GAAP: Non-GAAP financial measures: Comparable GAAP financial measures: (i) Total AUM (i) Total Investments (ii) GA AUM (ii) Total Investments (iii) Total Mortgage Loan AUM (iii) Mortgage Loans (iv) GA Mortgage Loan AUM (iv) Mortgage Loans (v) Total Real Estate Equity AUM; and (v) Real Estate and Real Estate Joint Ventures; and (vi) GA Real Estate Equity AUM (vi) Real Estate and Real Estate Joint Ventures Reconciliations of these non-GAAP measures to the most directly comparable GAAP financial measures are set forth in the tables below. Our definitions of non-GAAP and other financial measures discussed herein may differ from those used by other companies. Total Assets Under Management, General Account Assets Under Management, Gross Market Value of Commercial Real Estate Under Management and related measures: Total Assets Under Management ("Total AUM") (as well as all other measures based on Total AUM, such as Total Mortgage Loan AUM, Total Commercial Mortgage Loan AUM, Total Agricultural Mortgage Loan AUM and Total Real Estate Equity AUM) are comprised of GA AUM (or the respective measure based on GA AUM) plus Institutional Client AUM (or the respective measure based on Institutional Client AUM) (each, as defined below). General Account Assets Under Management ("GA AUM") (as well as other measures based on GA AUM, such as GA Mortgage Loan AUM, GA Commercial Mortgage Loan AUM, GA Agricultural Mortgage Loan AUM, GA Residential Mortgage Loan AUM and GA Real Estate Equity AUM) are used by MetLife to describe assets in its GA investment portfolio which are actively managed and stated at estimated fair value. MetLife believes the use of GA AUM (as well as the other measures based on GA AUM) enhances the understanding and comparability of its GA investment portfolio. GA AUM are comprised of GA Total Investments and cash and cash equivalents, excluding policy loans, other invested assets, contractholder-directed equity securities and fair value option securities, as substantially all of these assets are not actively managed in MetLife's GA investment portfolio. Mortgage loans and real estate and real estate joint ventures included in GA AUM (at net asset value, net of deduction for encumbering debt), have been adjusted from carrying value to estimated fair value. Classification of GA AUM by sector is based on the nature and characteristics of the underlying investments which can vary from how they are classified under GAAP. Accordingly, the underlying investments within certain real estate and real estate joint ventures that are primarily commercial mortgage loans (at net asset value, net of a deduction of encumbering debt) have been reclassified to exclude them from GA Real Estate Equity AUM and include them in both GA Mortgage Loan AUM and GA Commercial Mortgage Loan AUM. MetLife Investment Management 294 30 End Notes (cont.) Gross Market Value of Commercial Real Estate Assets Under Management ("Gross Commercial Real Estate AUM") are comprised of Gross Market Value of Commercial Mortgage Loan AUM ("Gross Commercial Mortgage Loan AUM") plus Gross Market Value of Real Estate Equity AUM ("Gross Real Estate Equity AUM"). Gross Commercial Mortgage Loan AUM and Gross Real Estate Equity AUM are comprised of Total Commercial Mortgage Loan AUM and Total Real Estate Equity AUM, respectively, each plus an adjustment to state at gross market value. For Gross Commercial Mortgage Loan AUM, this adjustment is the amount of encumbering debt related to the joint venture investments, with the underlying investments primarily in commercial mortgage loans (at net asset value, before deduction for encumbering debt) included in both GA Commercial Mortgage Loan AUM and Total Commercial Mortgage Loan AUM. For Gross Real Estate Equity AUM, this adjustment is the amount of encumbering debt related to Total Real Estate Equity AUM. The following additional information is relevant to an understanding of our assets under management: Institutional Client Assets Under Management ("Institutional Client AUM") (as well as other measures based on Institutional Client AUM, such as Institutional Client Mortgage Loan AUM and Institutional Real Estate Equity AUM) are comprised of the respective portion of each of SA AUM and TP AUM (each, as defined below). MIM manages Institutional Client AUM in accordance with client contractual investment strategy guidelines ("Mandates"). Separate Account Assets Under Management ("SA AUM") (as well as other measures based on SA AUM, such as SA Mortgage Loan AUM and SA Real Estate Equity AUM) are comprised of the respective portion of separate account investment portfolios, which are managed by MetLife and stated at estimated fair value. SA AUM (as well as the other measures based on SA AUM) are the respective portions of the separate account assets of MetLife insurance companies which are included in MetLife, Inc.'s consolidated financial statements at estimated fair value. Third Party Assets Under Management ("TP AUM") (as well as other measures based on TP AUM, such as TP Mortgage Loan AUM and TP Real Estate Equity AUM) are the respective portion of non- proprietary assets managed by MetLife on behalf of unaffiliated/third party clients, which are stated at estimated fair value. TP AUM (as well as the other measures based on TP AUM) are owned by such unaffiliated/third party clients; accordingly, unaffiliated/third party non-proprietary assets are not included in MetLife, Inc.'s consolidated financial statements. Additional information about MetLife's general account investment portfolio is available in MetLife, Inc.'s quarterly financial materials for the quarter ended March 31, 2019, which may be accessed through MetLife's Investor Relations Web page at https://investor.metlife.com. MetLife Investment Management 31 295 End Notes (cont.) Total Investments $471.9 Plus Cash and Cash Equivalents 19.5 Plus Fair Value Adjustment — Mortgage Loans 3.1 Plus Fair Value Adjustment — Real Estate and Real Estate Joint Ventures 6.3 Less Policy Loans 9.7 Less Other Invested Assets 22.0 Less Contractholder-Directed Equity Securities and Fair Value Option Securities 12.7 General Account Assets Under Management Plus Separate Account Assets Under Management Plus Third Party Assets Under Management $456.4 15.2 124.4 Institutional Client Assets Under Management 1 MetLife Investment Management $139.6 $596.0 296 32 End Notes (cont.) Mortgage Loans Plus Fair Value Adjustment $79.0 3.1 Plus Joint Venture Reclassification 0.9 General Account Mortgage Loan Assets Under Management 83.0 Plus Separate Account Mortgage Loan Assets Under Management 0.0 Plus Third Party Mortgage Loan Assets Under Management Institutional Client Mortgage Loan Assets Under Management Total Mortgage Loan Assets Under Management2 21.5 21.5 $104.5 Real Estate and Real Estate Joint Ventures $10.2 Plus Fair Value Adjustment 6.3 Plus Joint Venture Reclassification (0.9) General Account Real Estate Equity Assets Under Management Plus Separate Account Real Estate Equity Assets Under Management Plus Third Party Real Estate Equity Assets Under Management Institutional Client Real Estate Equity Assets Under Management 1 MetLife Investment Management 297 15.6 0.0 7.4 7.4 $23.0 33 Notes 1 MetLife Investment Management 298 34 MetLife Investment Management © 2019 MetLife Services and Solutions, LLC, New York, NY 10166 - All Rights Reserved. 299 ATTACHMENT 18 Payden&Rygel QUARTERLY PORTFOLIO REVIEW Riverside County Transportation Commission 1St Quarter 2020 During these unprecedented times, our first concern is with the well-being of our staff, clients, and their families. I hope this finds you safe and in good health. Payden & Rygel's entire global team has been working from home since March 13th, but our business is otherwise operating as usual. Our success during this time is in large part due to the firm's collaborative and energetic culture and our consistent ownership and operating structure. These attributes have served us well since the firm's founding in 1983, and I am pleased that they continue to be a critical advantage during this period. You will see we have updated the format and content of this quarterly report to focus on current conditions. All investment strategies have been impacted by recent market volatility and our comments on global markets include both our thoughts on near -term changes and observations about longer -term prospects. In particular, we highlight the important differences between today's environment and conditions during the 2008 crisis. We will continue to be in touch with updates on the markets and your portfolio. Most importantly, we hope you stay healthy and safe over the coming weeks and we thank you for your continued trust and partnership with us. My warmest regards to you and your family. Sincerely, ,SZ:rx-c.,_ 4-0-ic(29---- Joan A. Payden President & CEO I d PAYDEN.COM LOS ANGELES I BOS30018 I LONDON I MILAN A PERSPECTIVE ON THE CURRENT CRISIS DAILY GROWTH IN CASES 70 v. 60 °, cc V a 50 0 0. aJ = 40 r 0 20 10 0 01/23 01/30 02/06 • Mainland China • Outside China 02/13 02/20 CONTINUED VOLATILITY ....----4r UNTIL DAILY GROWTH IN CASES STARTS TO SLOW 02/27 03/05 03/12 03/19 THE "PATIENT" (THE U.S. ECONOMY) WAS MUCH HEALTHIER BEFORE THE VIRUS OUTBREAK THAN IT WAS IN 2008 03/26 The U.S. Economy Is In Much Better Shape Going Into This Crisis Than It Was In 2008* November 2007 February 2020 Job Growth 3-Month Moving Average of Job Growth 99K 243K Initial Claims % Change Year -Over -Year in Initial Claims for Unemployment Insurance 7% -6% Housing Permits % Change Year -Over -Year in Authorized Housing Permits -30% 13% Household Debt As % of Gross Domestic Product 99% 76% Source: Bureau of Labor Statistics, Dept. of Labor, Census Bureau, Federal Reserve, Payden Estimates Data on the eve of the 2008-2009 recession and financial crisis 301 2812 Riverside County Transportation Commission Portfolio Review and Market Update - 1st Quarter 2020 PORTFOLIO CHARACTERISTICS (As of 3/31/2020) Portfolio Market Value Weighted Average Credit Quality Weighted Average Duration Weighted Average Yield to Maturity $55.0 million AA+ 1.82 years 0.99% SECTOR ALLOCATION mi 50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% a���`�5 G��a �,���� �G\�5 �p OaG��a O�G��a Z <<e Q' Pd' P��e� �a�e � DURATION DISTRIBUTION 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% 0-1 1-2 2-3 3+ Years PORTFOLIO RETURNS - Periods Ending 3/31/2020 RCTC Operating Portfolio ICE BofA 1-3 Year US Treasury Index Periods over one year are annualized Since 1st Trailing Inception Quarter 1 Yr (3/1/15) 1.89% 4.61% 1.90% 2.81 % 5.42% 1.86% pPayden & Rygel • 333 South Grand Avenue • Los Ange1Q,2california goo71 • (213) 625-igoo • www.payden.com MARKET UPDATE Waiting for a Recovery Entering the year, we expected a moderate rebound in the global economy, but the spread of COVID-19 effectively halted global growth and rattled financial markets. The 11-year bull market, the longest in history, ended abruptly, morphing into a bear market in the shortest time ever. U.S. Treasury bond yields fell to all-time lows. Just months after breaking the record for the longest economic expansion in U.S. history, we now appear to be heading into a recession in the second quarter. Fixed income market behavior in March was driven by the need for liquidity. Selling pressure from de - risking and collateral and margin calls strained bank balance sheets and created a massive divergence between bond prices and intrinsic value. The Fed has stepped in to cut rates to nearly zero and purchase bonds on an unprecedented scale to stabilize the market. Corporate bond prices fell over the quarter - energy, autos, and airline/travel bonds were hit hardest by the drop in economic activity. Mortgage -backed, asset -backed, and municipal bonds also experienced negative returns. However, a flight to quality drove U.S. Treasury prices higher, up 8.8%, the best quarterly performance since Q4 2008. Equities fell 20-30%, as companies took action to preserve capital by slashing spending, suspending share buybacks and dividends, and implementing layoffs. Energy stocks were the hardest hit, down 50%, as per barrel oil prices plummeted into the low $20's. Technology stocks with strong balance sheets and wide profit margins were the best performers, down 12% for the quarter. Like the Fed, the U.S. government responded aggressively to prevent the markets and the economy from plummeting even more by passing the $2 trillion CARES Act, the largest stimulus package ever, to support both companies and individuals. Looking ahead, we know that the markets will move beyond COVID-19 eventually, but when is anyone's guess. We should remember that near -term uncertainty can create long-term opportunities, supported by the aggressive and decisive moves by the Fed and Congress, low oil prices and a historically resilient economy. In the past, pandemic -driven recessions have been relatively short and the economy has experienced a quick recovery. In contrast to the Global Financial Crisis, this is an exogenous shock. As always, we will maintain a flexible but disciplined approach in this fluid environment and will rely on our firmwide collaboration, innovative thinking and global perspective to serve our clients well through this challenging time. 303 OVER 35 YEARS OF INSPIRING CONFIDENCE WITH AN UNWAVERING COMMITMENT TO OUR CLIENTS' NEEDS. LOS ANGELES I BOSTON I LONDON I MILAN PAYDEN.COM OUR STRATEGIES Multi -Sector Short Maturity Bonds U.S. Core Bond Absolute Return Fixed Income Strategic Income Global Fixed Income Liability Driven Investing Sector -Specific Emerging Markets Debt Government/Sovereign High Yield Bonds & Loans Inflation-Linked/TIPS Investment Grade Corporate Bonds Municipal Bonds (U.S.) Securitized Bonds Income -Focused Equities Equity Income Available in: Separate Accounts — Mutual Funds (U.S. and UCITS) Collective Trusts ("CITs") — Customized Solutions For more information about Payden & Rygel's strategies, contact us at a location listed below. Payden&Rygel LOS ANGELES 333 South Grand Avenue Los Angeles, California 90071 213 625-1900 BOSTON 265 Franklin Street Boston, Massachusetts 02110 617 807-1990 LONDON 1 Bartholmew Lane London EC2N 2AX UK +44 (0) 20-7621-3000 MILAN Corso Matteotti, 1 20121 Milan, Italy +39 02 76067111 304 ATTACHMENT 19 County of Riverside Treasurer'sPooled Investmenii-und March 2020 305 Contents Treasurer's Pooled Investment Fund Economy Market Data Portfolio Data Compliance Report Month End Holdings Please see the digital copy of our monthly ?P►Freport at to listen to the video of the Federal Open Market Commi#ee's March press conference. Listen N� Audio On Federal Reserve Chair Jerome Powell during the March 15 FOMC pressconference. Digital Image. Federal Re rve Board.httpsllwww youtube.comlus?r/FedRewrveBoard C O UNITY 0 F RIVERSIDE TREASURER -TAX C O LLEC TO R 306 1 Treasurer's Pooled Investment Fund Monthly Commentary Multi Trillion Dolla r Stim ulus Worldwide, a historic amount of stimu- lus was provided by nations to stem the economic impact of the Coronavirus pandemic in March. With no known treatment or vaccine, affected commu- nities have responded by limiting social contact and those policieshave caused economic activity to nosedive. U.S. Treasury rates declined to historic near zero levels and credit spreads widened, reflecting market liquidity distress. As a result, the yield on the TPIF has been de- creasing and is expected to continue to drop. However, the TPIF is well posi- tioned to weather this shock, with ample liquidity and a defensive credit posture. The month began with the Corona - virus epidemic still concentrated mostly in China and beginning to spread through Europe, with Italy first receiving the brunt of itsdevastation. Recognition of the economic impact began to alarm central banks and public health officials alike, as the number of worldwide cases began to grow exponentially. By the second half of the month, the epidemic Treasurer's Statement was upgraded to a pandemic by the WHO, and the number of cases in the United States had grown to over 200,000 by month end. The U.S. bond market rallied intensely during the first week of the month in an- ticipation of the Federal Reserve re- sponse. The response came in two steps. The Fed's first move was a 50 basis point cut on March 3rd, which lowered the funds rate from a 1.50-1.75%range to a 1.00 — 1.25% range. Followed with a sec- ond cut on March 15th, lowering the funds rate to a range of 0.00 - 0.25%. In reaction, many short Treasury securities began to trade very close to 0%, with some in the 'under 3 months' maturities range actually trading at negative yields! lhe 2-year Treasury yield began the month at .92% and ended at .21%. The 5-year Treasury yield began the month at .92% and ended at .35%. lhe Dow Jones Industrial Index began the month at 26,000, traded as low as 18,600 on March 23rd, then recovered to end the month at 22,000. The Treasurer's Pooled Investment Fund is comprised of contributions from the county, schools, special districts, and other discretionary depodtorsthroughout the County of Riverside. The primary objective of the treasurer shall be to safeguard the principal of the funds under the Treasurer's control, meet the liquidity needs of the depositor, and to maximize a retum on the fundswithin the given parameters. The Treasurer -Tax Collector and the Capital Markets team are committed to maintaining the highest credit ratings. lhe Treasurer's Pooled Investment Fund is currently rated Aaa-bf by Moody's Investor Service and AAAf/S1 by Fitch Ratings, two of the nation's most trusted bond credit rating services. Snce its inception, the Treasurer's Pooled Investment Fund has been in full compliance with the Treasurer's Statement of Investment Policy, which is more restrictive than Califomia Government Code 53646. 6-Month Pool Performance In the second step, the Federal Re- serve and United StatesTreasury injected trillions of dollars of support and stimulus to help support the economy. The CARESAct, signed into law by the Presi- dent on March 27th, provides over $2 trillion in stimulus. In addition to taking rates to zero, the Fed injected over $2.3 trillion in market support in the form of a number of programs, including in- creased purchases of Treasury securities, the establishment of a Commercial Pa- per Funding Facility and a Money Market Mutual Fund Liquidity Facility. Further- more, the Fed announced programs to begin buying commercial mortgage backed securities, investment grade corporate debt, asset backed securities and tax-exempt commercial paper. All of these programs are designed to bring stability back to the United States fund- ing markets. Jon Christensen Treasurer -Tax Collector Capital MarketsTeam Jon Christensen Treasurer -Tax Collector Giovane Pizano Chief Investment Manager Steve Faeth Senior Investment Manager Ise la Licea Assistant Investment Manager Hayden Nestande Prof Student Intern Month End Market Value ($)' Month End Book Value ($) Paper Gain or Loss ($) Paper Gain or Loss ('i) Book Yield (%) WAM (Yrs) Mce-20 Feb-20 Jan-20 Dec-19 Nov-19 Oct-19 7,300,500,274.82 7,341,926,889.86 7,653,741,469.47 8.232.092.850.66 6,701,954,259.60 6.439.190.828.38 7, 261.6 65, 325.07 7, 315,6 33. 798.80 7,633,961,510.96 8.214.054.109.29 6,686,612,679.23 6,419,496,517.32 38, 834.949.75 26, 293,091.06 19, 779.958.51 18.038.741.37 15, 341.580.37 19, 694.31 1.06 0.53% 0.36% 0.26% 0.22% 0.23% 0.31% 1.46 1.80 1.82 1.86 1.91 2.03 1.19 1.16 1 .06 1 .01 1.13 1.13 'Market values do nor include accrued interest COUNTY OF RIVERSIDE TREASURER -TAX C O LLEC TO R 307 2 Economy National Economy In February, personal income increased just over $100 bil- lion, or 0.6%. Ibis jump in personal income led to increases in disposable personal income (DPI) as well as personal consumption expenditure (PCE). What is interesting about the $13 billion increase in PCE, is when broken down we learned that there was actually a $7.7 billion decrease in spending on goods, and an $18.3 billion increase in spend- ing on services- led by spending on electricity and gas. These numbers reflect the lifestyle shift many Americans adopted amid growing concern surrounding the pandem- ic. Rather than crowding up shopping malls and shopping for goods, many instead practiced social distancing by staying inside theirhomesand running up the electricity bill. (BEA 04/ 02/ 20) Private Sector Average Hourly EarningsY/Y Percenl 3.4 3.2 3.0 2.8 2.6 2.4 2.2 2.0 tit `g'c Thousands 800 Percent 7.0 t4 `R trO eC� New Home SalesSAAR New Horne Sales - 30-Year Fixed Nbrtgage Rate �O .N <ry '<5 r\b. ‘h ‘b . ‘t �4 e� � 4e� 4d (‹e Ford ,<e Fe' ceb �� 4,cfceb Key Economic Indicators 6.0 5.0 4.0 3.0 2.0 1.0 0.0 State Economy Pre -pandemic data showed California continued itshistor- ic job growth run in February. By adding nearly 30,000 non- farm payroll jobs, our state maintained the record low 3.9% unemployment rate. Ibis can mostly be attributed to large growth in the Business and Professional Servicesindustry, as well asstrong gainsin Construction. (EDD 03/27/20) • AsMarch came, unemployment claimsquickly sky rocketed, more than doubling every week and quickly reaching 1 million claims. (CNBC 03/25/20) • Amid all of thisuncertainty regarding our economy and how/when we will recover, expertsexpect Califor- nia'sunemployment rate to climb above 6.0%in com- ing months. (Cal Matters03/22/20) Percent 20.0 15.0 I0.0 5.0 0.0 Durable GoodsPercent Chg. Y/Y .1.1I,II1IIII,II1111I.. . s.n ', limp' •:\ .6 �a .$ �a �a �0° P`f fed Nonfarm PayrollsTotal M/M Change SA thousands 41,t. ir.7imp Avg 35a0 300A 2500 20a0 E300 101 5 3 1 �1 i i i 1 Release Date Indicator Actua I Consensus Prior Year 03/26/2020 03/06/2020 03/06/2020 03/11/2020 03/11/2020 03/04/2020 03/24/2020 03/05/2020 03/05/2020 Real GDP- Q/Q Change Unemployment Rate -Seasonally Adjusted Non -Farm Payrolls- M/M Change -Thousands CPI -Y/YChange CPI Ex Food and Energy - Y/YChange ISM Non -Manufacturing Index (> 50 indicatesgrowth) New Home Sales- S4AR-Thousands Factory Orders- M/M Change Durable GoodsOrders- New Orders- M/M Change 2.1% 3.5% 273 2.3% 2.4% 57.3 765 -0.5% -0.2% 2.1% 3.6% 175 2.2% 2.3% 54.8 750 -0.1% -0.2% 2.2% 3.8% 20 1.5% 2.1% 59.7 667 0.1% 0.3% *Note.'PriorYear displaysfinal estimatesof indicatorvaluesfrom the equivalent period of the prior year. C O UNTY 0 F RIVERSIDE TREASURER -TAX C O LLEC TO R 308 3 Market Data FOMC Meeting 03/15/2020 • lhe FOMC stated that data received since their last meeting in January showed significant market stress. Against this backdrop, expectationsforthe path of the federal fundsrate were adjusted sharply. • lhe Federal Open Market Committee lowered the Fed Funds Target Range on 3/3/2020 to 1.00-1.25%., then lowered again on 3/15/2020 to 0.0-0.25% • lhe FOMC stated in their press release that "it is prepared to use its full range of tools to support the flow of credit to householdsand businesccsand thereby promote itsmaximum employment and price stability goals" Fed FundsTarget Rate (Upper Limit) 3.00% 2.50% 2,00% 1.50% 1.00% ,19 1q 1R 1q 1q 1q 1q U.S. Treasury Curve 2.00 1.50 1.00 m »0.50 0.00 —'-03/02/2020 t 03/31 /2020 5 10 15 Years 20 25 30 Treasury Curve Differentials 3 Mo 6 Mo 1 Yr 2 Yr 3 Yr 5 Yr 10 Yr 30 Yr 03/31/2020 - 03/02/2020 03/31/2020 03/02/2020 -1.02 -0.80 0.11 0.15 1.13 0.95 -0.72 -0.61 0.17 0.23 -0.56 -0.51 0.29 0.37 -0.40 -0.31 0.70 1.35 0.89 0.84 0.85 0.88 1.10 1.66 The USTreasury Curve and itsvaluesare subject to frequent change and will be updated monthly with each issued TPIF report. COUNTY OF RIVERSIDE TREASURER -TAX COLLECTOR 309 4 Market Data cont'd Percent 5.0 4C 3.3 2.3 D.3 65.0C 55.00 45.00 35.00 25.00 15.00 29.000.00 27.000.00 25,000.00 23.000.00 21.000.00 19.000.00 Recession—2YTrecsury Yield U.S. Treasuries Puce— D. 0 I.0 80 b 0 r,9 Commodities •Nymex Crude Nymex Not Cas 5-00 4.50 4.00 3.50 3.00 2.50 2.00 1-50 f 00 Stocks -Dow Jones 190.00 170.00 150.00 130.00 110.00 90.00 s,000.00 3,500.00 3,000.00 7,500.00 7,000.00 6,500.00 6,000.00 �4 • �q N4 .rig , c �� 'S�� 'Q(` P,eces on—3M-IOYTreasury field Spread ..Precious ',Petals hdustrfol Metals NASDAQ 1 CO 5 &P 500 3,5DD.0D 3,300.00 3,1 DD.0D 2,9 00.00 2,7DD.0D 2,500.0D Valueslisted forcommoditiesand stocksare in USdollarsand are asof the final businessday of each month. CO UN1Y OF RIVERSIDE 1REASURER TAX C O LLEC TO R 310 5 Portfolio Data The County of Riverside'sTreasurer'sPooled Investment Fund is currently rated AAA-bfby Moody'sInvestor Service and AAAf/S1 by Fitch Ratings. Moody'sAssct Rating (000's) Book MKTIBook % Book Yield Aaa 5,754,699.19 100.62% 79.25% 1.40% Aa 20,000.00 101.00% 0.28% 2.06% Aa 1 432,487.92 100.14% 5.96% 1.72% Aa2 189,603.49 100.40% 2.61% 1.81% Aa3 319,830.03 100.26% 4.40% 2.10% Al 50,000.00 100.00% 0.69% 1.75% NR 495,044.70 100.22% 6.82% 1.43% Tota Is: 7,261,665.33 100.53% 100.00% 1.46% S&P Asset Rating (000's) Book MKTIBook % Book Yield AAA AA+ AA AA- 512,969.56 100.34% 7.06% 5,390,596.12 100.63% 74.23% 59,405.15 100.15% 0.82% 603,649.80 100.30% 8.31% A+ 200,000.00 100.00% 2.75% NR 495,044.70 100.22% 6.82% Tota Is: 7,261,665.33 100.53% 100.00% 12-Month Projected Cash How 0.99% 1.45% 2.01% 1.94% 1.74% 1.43% 1.46% Aa 0% Aal ismAa2 3% Al III l% NR 7% AA1/4i S196 A+ • Required Ma - Monthly Monthly Dis- tured Invest- Actual Invest- Available to In - Month Recei•ts bursements Difference ments Balance ments Maturin • vest> 1 Year 04/ 2020 04/ 2020 05/2020 06/ 2020 07/2020 08/2020 09/2020 10/ 2020 11 / 2020 12/ 2020 01/2021 02/ 2021 03/2021 2,103.35 1,289.51 1,086.86 1,939.63 1,044.30 1,802.91 1,034.18 1,472.64 986.77 1,164.92 1,085.65 1,145.14 1,249.55 1,343.18 1,205.40 1,074.70 2,348.61 1,073.38 1,078.90 1,910.81 1,005.21 1,217.34 1,497.96 1,092.59 813.84 (852.77) (758.61) (438.46) (178.15) (59.49) (93.63) 130.70 1,275.23 (831.91) (212.13) 405.37 549.74 438.46 178.15 59.49 93.63 247.80 1,061.64 208.87 130.70 1,405.93 574.02 361.89 767.26 835.97 1,519.66 465.04 126.83 333.35 248.98 187.25 320.10 367.75 15.00 140.26 TOTALS 15,726.74 16,526.75 (800.01) 1,319.47 18.17% 4,758.11 4,560.19 5,942.19 62.80% 81.83°A * Valueslisted in Cash Row Table are in millions of UBD. Based on historic and current financial conditionswithin the County, the Pool isexpected to maintain sufficient liquidity of fundsto cover County expensesforthe next twelve months. COUNTY OF RIVERSIDE TREASURER TAX C O LLEC TO R 311 6 Portfolio Data cont'd Asset Maturity Distribution (Par Value, 000's) 3,000,000 2,500,0W 2,000,000 1,500,000 1,000,000 500,000 11.50% 835,965.94 27.29% 23,92% 1,984, 700,00 1,739,510.00 14.52% 1,056,145.00 9.33% 678,355.00 13.44% 977,369.W 0-1 Mos 1-3 Mos 3-12 Mos 1-2 Yr 2-3 Yr 3-5 Yr Asset Allocation (000's) Assets Scheduled Book Scheduled Market Mkt/Book Yield WAL(Yr.) Mat(Yr.) TREAS 800,494.03 AGENCIES 4,240,686.66 M MKT 429,000.00 CASH 275,000.00 CALTRUST FN D 4,023.98 COMM PAPER 886,127.80 CDS 100,000.00 N C DS 290, 000.00 MEDIUM TERM NOTES 82,836.63 M UN I 153,456.23 LOCALAGCY OBIJG 40.00 810,908.75 4,263,331.80 429,000.00 275,000.00 4,023.98 890,165.58 100,000.00 290,000.00 84,573.93 153,456.23 40.00 101.30% 100.53% 100.00% 100.00% 100.00% 100.46% 100.00% 100.00% 102.10% 100.00% 100.00% 1.64% 1.37% 0.69% 1.44% 1.71% 1.68% 1.63% 1.88% 2.56% 2.63% 2.41 0.90 0.86 0.00 0.00 0.00 0.15 0.48 0.17 0.65 1.09 0.21 0.90 1.22 0.00 0.00 0.00 0.15 0.72 0.17 0.71 1.09 0.21 Totals: 7,261,665.33 7,300,500.27 100.53% 1.46% 0.663 1.19 " Fordetailson the Pool'scomposition see Month End Portfolio Holdings, pages9to 13. 11MMI Pool Yield tTIMMI The Treasurer'slnstitutional Money Market Index (11MMI) isa composite index of four AAA rated prime institutional money market funds. Their average yield iscompared to the yield of the Treasurer's Pooled Investment Fund in the above graph. COUNTY OF RIVERSIDE TREASURER -TAX COLLECTOR 312 7 Compliance Report Compliance Status: Full Compliance the Treasurer's Pooled Investment Fund wasin full compliance with the County of Riverside'sTreasurer'sState- ment of Investment Policy. the County'sStatement of Investment Policy ismore restrictive than California Gov- ernment Code 53646. The County'slnvestment Policy isreviewed annually by the County of Riverside'sOver- sight Committee and approved by the Board of Supervisors. Investment Category MUNICIPALBONDS(MUNI) U.S. TREASURIES LOCALAGENCY OBUGATIONS(LAO) FEDERAL AG EN C I ES GOVERNMENT CODE Maximum Authorized % S&P/ Remaining Limit Moody's Maturity COUNTY INVESTMENTPOLICY Maximum Remaining Maturity Authorized % S&P/Moody's/ Limit Fitch Actual % 5 YEARS NO LIMIT NA 4 YEARS 15% AA-/Aa3/AA- 2.11% 5 YEARS NO LIMIT NA 5 YEARS 100% NA 11.02% 5YEARS NO LIMIT NA 3YEARS 2.50% INVESTMENT <0.01% GRADE 5 YEARS NO LIMIT AAA 5 YEARS 100% NA 58.40% COM MERC IAL PAPER (C P) 270 DAYS 40% Al/P1 270 DAYS 40% Al/P1/F1 12.20% CERTIFlCAIE&TIME DE- 5 YEARS 30% NA 1 YEAR 25% Al/P1/F1 5.37% POSITS(NCD &TCD) Combined INTLBANKFORRECON- SIRUCTION AND DEVELOP- M ENTAND INTL FINANC E CORPORATION REPURCHASE AG REEM ENTS (REPO) REVERSE REPOS MEDIUM TERM NOTES (MTNO) C ALTRUST SHO RT TERM FUND NA NA NA 4 YEARS 20% AA/Aa/AA 0.00% 40%max, 25% 1 YEARS NO LIMIT NA 45 DAYS in term repo Al/P1/F1 0.00% over 7days 92 DAYS 20% NA 60 DAYS 10% NA 0.00% 5 YEARS 30% A 3 YEARS 20% AA/Aa2/AA 1.14% NA NA NA DAILY 1.00% NA 0.06% LIQUIDITY MONEY MARKET 60 DAYS 20% AAA/Aaa (2) DAILY 20% AAA by 2 Of 3 5.91% M UTUAL FUNDS (M M F) LIQUIDITY RATINGS LOCALAGENCY NA NA NA DAILY Max NA 0.00% INVESTMENTFUND (LAIF) LIQUIDITY $50 million CASH/ DEPOSIT COUNT AC- J NA NA NA NA NA NA 3.79% II 1 Money Market Mutual Fundsmaturity may be interpreted asa weighted average maturity not exceeding 60 days. 2Ormust have an investment advisor with no fewerthan 5 yearsexperience and with assetsundermanagement of $500,000,000 USD. THIS COMPLETES-1HEREPO RTREQUIRENIENTSOFCALIFORNIA GOVERNMENTCODE53646. COUNTY OF RIVERSIDE TREASURER -TAX COLLECTOR 313 8 Month End Portfolio Holdings CUSP Description Maturity Coupon Yield Par Book Market Market Unrealized Modified Years To Date To Mat Value Value Price Value Gain/Loss Duration Maturity Fund: 1 POOL FUND 1060: M M KT AC C1S-A/ 365-6 FRGXX FIDEUIYGOV GOFXX FEDERA1ED GOV WFFXX WELLS FARGO GOV FG1XX GOLDMAN SACHSGOV 04/01/2020 .666 .666 121,000,000.00 121,000,000.00 100.000000 121,000,000.00 0.00 .003 .003 04/01/2020 .456 .456 66,000,000.00 66,000,000.00 100.000000 66,000,000.00 0.00 .003 .003 04/01/2020 1.056 1.056 121,000,000.00 121,000,000.00 100.000000 121,000,000.00 0.00 .003 .003 04/01/2020 .464 .464 121,000,000.00 121,000,000.00 100.000000 121,000,000.00 0.00 .003 .003 .687 .687 429,000,000.00 429,000,000.00 100.000000 429,000,000.00 0.00 .003 1065: CL1R-A/365-6 CLIR CAL1RUST91TTERM FUND 04/01/2020 1.749 1.706 4,015,944.14 4,023,976.03 100.200000 4,023,976.03 0.00 .003 .003 1.749 1.706 4,015,944.14 4,023,976.03 100.200000 4,023,976.03 0.00 .003 1080: MGD RA1E-A/365-6 CAS -I BANK OFTHEWEST 04/01/2020 .750 .750 25,000,000.00 25,000,000.00 100.000000 25,000,000.00 0.00 .003 .003 .750 .750 25,000,000.00 25,000,000.00 100.000000 25,000,000.00 0.00 .0 1170: MGD RA1E-A/360 CA9-I PACIFIC PREMIER BANK 04/01/2020 1.530 1.530 0.00 0.00 .000000 0.00 0.00 .000 .003 CAS -I FIRSTFEPUBLIC BANK 04/01/2020 1.515 1.515 0.00 0.00 .000000 0.00 0.00 .000 .003 CAS -I UBMANAGED RAZE 04/01/2020 1.505 1.505 250,000,000.00 250,000,000.00 100.000000 250,000,000.00 - 0.00 - .003 .003 1.505�! 250,000,000.00 W50,000,000.00 100.000000 250,000,000.00 0.00 .003 .003 1175: LAO-SNKING FND-A/360 LAO USDISTCOURTHOUSE 06/15/2020 2.408 2.408 40,000.00 40,000.00 100.000000 40,000.00 0.00 -.047 .208 1300: U.S 1EAASURY BILL 912796116 U.S 1REASURY BILL 2.408 2.408 40,000.00 40,000.00 100.000000 40,000.00 0.00 -.047 .208 05/07/2020 1.523 1.535 25,000,000.00 24,807,509.72 99.994000 24,998,500.00 190,990.28 .100 .101 1.523 1.535 25,000,000.00 24,807,509.72 99.994000 24,998,500.00 190,990.28 .100 ' .101 1310: U.S 1RFASURY BOND 912828Y46 U.S 1REASURY BOND 07/31/2020 2.625 1.662 25,000,000.00 25,179,687.50 100.867000 25,216,750.00 37,062.50 .331 .334 912828L32 U.S 1REASURY BOND 08/31/2020 1.375 1.627 50,000,000.00 49,898,437.50 100.531000 50,265,500.00 367,062.50 .416 .419 912828YC8 U.S 1REASJRY BOND 08/31/2021 1.500 1.711 25,000,000.00 24,906,250.00 101.863000 25,465,750.00 559,500.00 1.394 1.419 9128287 U.S 1REASURY BOND 06/30/2021 1.125 1.735 25,000,000.00 24,753,906.25 101.273000 25,318,250.00 564,343.75 1.231 1.249 912828YE4 U.S TREASURY BOND 08/31/2024 1.250 1.702 25,000,000.00 24,479,492.19 103.949000 25,987,250.00 1,507,757.81 4.269 4.422 912828L99 U.S IREASJRYBOND 10/31/2020 1.375 1.634 50,000,000.00 49,876,953.13 100.719000 50,359,500.00 482,546.87 .575 .586 9128283Q1 U.S IREASJRYBOND 01/15/2021 2.000 1.647 50,000,000.00 50,193,359.38 101.531000 50,765,500.00 572,140.62 .778 .795 912828PC8 U.S IREASJRYBOND 11/15/2020 2.625 1.638 50,000,000.00 50,455,078.13 101.586000 50,793,000.00 337,921.87 .611 .627 912828A42 U.S IREASJRYBOND 11/30/2020 2.000 1.639 50,000,000.00 50,173,828.13 101.289000 50,644,500.00 470,671.87 .656 .668 9128283Q1 U.S IREASJRYBOND 01/15/2021 2.000 1.643 50,000,000.00 50,193,359.38 101.531000 50,765,500.00 572,140.62 .778 .795 9128283Q1 U.S IREASJRYBOND 01/15/2021 2.000 1.637 25,000,000.00 25,097,656.25 101.531000 25,382,750.00 285,093.75 .778 .795 912828YV6 U.S IREASJRYBOND 11/30/2024 1.500 1.751 25,000,000.00 24,705,078.13 105.301000 26,325,250.00 1,620,171.87 4.462 4.671 9128283Q1 U.S IREASJRYBOND 01/15/2021 2.000 1.626 25,000,000.00 25,097,656.25 101.531000 25,382,750.00 285,093.75 .778 .795 9128283Q1 U.S 1REASJRY BOND 01/15/2021 2.000 1.645 50,000,000.00 50,185,546.88 101.531000 50,765,500.00 579,953.12 .778 .795 912828222 U.S IREASJRY BOND 10/15/2020 1.625 1.649 25,000,000.00 24,995,117.19 100.809000 25,202,250.00 207,132.81 .530 .542 9128283Q1 U.S IREA9JRYBOND 01/15/2021 2.000 1.606 50,000,000.00 50,201,171.88 101.531000 50,765,500.00 564,328.12 .778 .795 912828VV9 U.S TRFA9JRYBOND 08/31/2020 2.125 1.615 50,000,000.00 50,166,015.63 100.832000 50,416,000.00 249,984.37 .416 .419 9128283Q1 U.S 1REASJRY BOND 01/15/2021 2.000 1.605 50,000,000.00 50,195,312.50 101.531000 50,765,500.00 570,187.50 .778 .795 912828L32 U.S 1REASJRY BOND 08/31/2020 1.375 1.591 50,000,000.00 49,937,500.00 100.531000 50,265,500.00 328,000.00 .416 .419 912828XE5 U.S 1REASJRY BOND 05/31/2020 1.500 1.555 25,000,000.00 24,995,117.19 100.231000 25,057,750.00 62,632.81 .166 .167 1.835 1.639 775,000,000.00 775,686,523.49 101.407774 785,910,250.00 10,223,726.51 .908 1425: FHLM C-Fxd-S 30/ 360 3134GAVF8 FHLMC 3.5YrNc1YrE 05/08/2020 1.200 1.200 15,000,000.00 15,000,000.00 100.084000 15,012,600.00 12,600.00 .103 .104 3134GAX22 FHLM C 4YrNc 6M o E 11/25/2020 1.370 1.370 25,000,000.00 25,000,000.00 100.533000 25,133,250.00 133,250.00 .642 .655 3134GAYK4 FHLM C 4YrNc 1YrE 11/30/2020 1.440 1.440 10,000,000.00 10,000,000.00 100.594000 10,059,400.00 59,400.00 .658 .668 3134G9W37 FHLM C 2.5YrNc 3M o B 08/10/2020 1.450 2.421 10,000,000.00 9,769,000.00 100.093000 10,009,300.00 240,300.00 .357 .362 3134GSv1F9 FHLM C 5YrNc 3YrE 05/26/2023 3.000 3.000 15,000,000.00 15,000,000.00 102.660000 15,399,000.00 399,000.00 2.957 3.153 3134GS3L2 FHLMC 5YrNc2YrE 06/29/2023 3.100 3.100 5,000,000.00 5,000,000.00 100.621000 5,031,050.00 31,050.00 3.041 3.247 3134G1EB5 FHLMC 5YrNc1YrE 04/24/2024 2.625 2.625 15,000,000.00 15,000,000.00 100.129000 15,019,350.00 19,350.00 3.788 4.068 3134G13X5 FHLMC 5YrNc1YrE 04/24/2024 2.610 2.610 15,000,000.00 15,000,000.00 100.126000 15,018,900.00 18,900.00 3.789 4.068 3134G13X5 FHLMC 5YrNc1YrE 04/24/2024 2.610 2.610 15,000,000.00 15,000,000.00 100.126000 15,018,900.00 18,900.00 3.789 4.068 3134G1KG7 FHLMC 5YrNc2YrB 05/03/2024 2.600 2.600 10,000,000.00 10,000,000.00 102.120000 10,212,000.00 212,000.00 3.815 4.093 3134G1S=1 FHLMC 3YrNc1YrE 06/10/2022 2.400 2.400 5,000,000.00 5,000,000.00 100.353000 5,017,650.00 17,650.00 2.108 2.195 3134GM4 FHLMC 1YrNc1YrE 07/01/2024 2.125 2.125 15,000,000.00 15,000,000.00 100.366000 15,054,900.00 54,900.00 4.023 4.255 3134GTYT4 FHLMC 1YrNc1YrE 07/01/2024 2.125 2.125 15,000,000.00 15,000,000.00 100.366000 15,054,900.00 54,900.00 4.023 4.255 3134G1YS6 FHLMC 3YrNc1YrE 07/01/2022 2.000 2.000 15,000,000.00 15,000,000.00 100.377000 15,056,550.00 56,550.00 2.179 2.252 3134G1YP2 FHLMC 2.75YrNc9MoE 04/01/2022 2.000 2.000 15,000,000.00 15,000,000.00 100.000000 15,000,000.00 0.00 1.944 2.003 3134GTYT4 FHLMC 5YrNc1YrE 07/01/2024 2.125 2.125 15,000,000.00 15,000,000.00 100.366000 15,054,900.00 54,900.00 4.023 4.255 3134G1XJ7 FHLMC 5YrNc1YrE 07/08/2024 2.190 2.190 50,000,000.00 50,000,000.00 100.418000 50,209,000.00 209,000.00 4.035 4.274 3134GTA37 FHLMC 5YrNc1YrE 07/15/2024 2.150 2.150 15,000,000.00 15,000,000.00 100.414000 15,062,100.00 62,100.00 4.058 4.293 3134GTA52 FHLMC 5YrNc1YrQ 07/15/2024 2.300 2.300 5,000,000.00 5,000,000.00 100.481000 5,024,050.00 24,050.00 4.043 4.293 3134GTA37 FHLMC 5YrNc1YrE 07/15/2024 2.150 2.150 5,000,000.00 5,000,000.00 100.414000 5,020,700.00 20,700.00 4.058 4.293 3134G1W82 FHLMC 5YrNc1YrQ 08/07/2024 2.150 2.150 5,000,000.00 5,000,000.00 100.528000 5,026,400.00 26,400.00 4.119 4.356 3134GUHK9 FHLMC 5YrNc1Q 10/15/2024 1.875 1.875 10,000,000.00 10,000,000.00 100.625000 10,062,500.00 62,500.00 4.295 4.545 3134GUWP1 FHLM C 4YrNc 1YrB 11/27/2023 1.800 1.800 15,000,000.00 15,000,000.00 100.797000 15,119,550.00 119,550.00 3.501 3.660 3134GU1X8 FHLMC 3.75YrNc9MoB 08/28/2023 1.800 1.814 695,000.00 694,652.50 100.506000 698,516.70 3,864.20 3.299 3.411 3134GUWS5 FHLMC 3YrNc3MoB 12/02/2022 1.900 1.900 10,000,000.00 10,000,000.00 100.234000 10,023,400.00 23,400.00 2.575 2.674 3134GUWR7 FHLM C 4YrNc 7M o B 12/12/2023 1.900 1.900 10,000,000.00 10,000,000.00 100.246000 10,024,600.00 24,600.00 3.534 3.701 3134GUYX2 FHLMC 5YrNc6MoB 06/19/2024 2.000 2.000 15,000,000.00 15,000,000.00 100.296000 15,044,400.00 44,400.00 4.002 4.222 3134GUG38 FHLMC 3.5YrNc1YrB 06/23/2023 1.800 1.800 15,000,000.00 15,000,000.00 101.003000 15,150,450.00 150,450.00 3.108 3.230 3134GUG38 FHLMC 3.5YrNc1YrB 06/23/2023 1.800 1.822 9,000,000.00 8,993,250.00 101.003000 9,090,270.00 97,020.00 3.107 3.230 3134GUH45 FHLM C 4YrNc 1YrB 12/28/2023 1.900 1.900 20,000,000.00 20,000,000.00 101.007000 20,201,400.00 201,400.00 3.579 3.745 3134GUM72 FHLM C 4YrNc 1YrB 12/28/2023 1.900 1.900 10,000,000.00 10,000,000.00 100.983000 10,098,300.00 98,300.00 3.579 3.745 3134GU2V1 FHLM C 4YrNc 6M oQ 01/16/2024 1.900 1.900 25,000,000.00 25,000,000.00 100.372000 25,093,000.00 93,000.00 3.628 3.797 3134G1JY38 FHLMC 5YrNc6MoQ 01/16/2025 2.000 2.000 24,747,000.00 24,747,000.00 100.141000 24,781,893.27 34,893.27 4.529 4.800 3134G1.1260 FHLM C 4YrNc 6M oQ 01/17/2024 1.900 1.900 15,000,000.00 15,000,000.00 100.372000 15,055,800.00 55,800.00 3.631 3.800 3134GU4E7 FHLMC 4.5YrNc1YrQ 07/22/2024 1.850 1.850 25,000,000.00 25,000,000.00 101.006000 25,251,500.00 251,500.00 4.109 4.312 3134GU7L8 FHLMC3.5YrNc6MoQ 08/10/2023 1.700 1.700 15,000,000.00 15,000,000.00 100.389000 15,058,350.00 58,350.00 3.243 3.362 3134GVBK3 FHLMC 3.5YrNc6MoB 08/10/2023 1.750 1.750 5,000,000.00 5,000,000.00 100.391000 5,019,550.00 19,550.00 3.240 3.362 314 C 0 UN1Y O F RIV ERSDE 1REASJRER-TAX C 0 LLEC1D R 9 Month End Portfolio Holdings CUSIP Description Maturity Coupon Yield Date To Mat Pa r Value Book Value Market Price Market Value Unrealized Modified Years To Gain/Loss Duration Maturity 3134GVAU2 FHLMC 4YrNc6MoB 3134GVCD8 FHLMC 4YrNc6MoB 3134GVC29 FHLMC 5YrNc1YrB 3134GVCR7 FHLMC5YrNc1YrB 3136G4UG6 FHLMC 5YrNc 1YrB 3134GVDC9 FHLMC 3YrNc9MoB 3134GVCP1 FHLMC 4YrNc 1YrE 3134GVDW5 FHLMC 1YrNc3MoB 3134GVDPO FHLMC 5YrNc6MoB 3134GVEM6 FHLMC 3YrNc6MoB 3134GVCY2 FHLMC 3YrNc3MoB 3134GVHU5 FHLMC 2YrNc3MoB 3134GVHE1 FHLMC 5YrNc3MoB 3134GVHJO FHLMC 5YrNc3MoB 3134GVHM3 FHLMC 1.5YrNc3MoB 02/12/2024 02/ 24/ 2024 02/18/2025 02/19/2025 02/19/2025 11 / 20/ 2023 02/26/2024 08/26/2021 02/27/2025 02/28/2023 02/28/2023 03/30/2022 03/26/2025 03/26/2025 09/30/2021 1465: FHLMC-SIEP%-S30/360 3134G9R66 FHLMC 5YrNc3MoB 3134G9U47 FHLMC 5YrNc3MoB 3134GADP6 FHLMC 5YrNc3MoB 3134GAQV9 FHLMC 5YrNc6MoB 3134GAQV9 FHLMC 5YrNc6MoB 3134GASF2 3134GASF2 3134GATA2 3134GA1B0 3134GATA2 3134GAUAO 3134GAYF5 3134G9213 FHLMC 5YrNc3MoB FHLMC 5YrNc3MoB FHLMC 5YrNc3MoB FHLMC 5YrNc3MoB FHLMC 5YrNc3MoB FHLMC 5YrNc3MoB FHLMC 5YrNc3MoB FHLMC 5YrNc3MoB 1476: FHLMC-Var-SOFR.Q A/360 3134GVHN1 FHLMC 1.5Yr 3134GVHN1 FHLMC 1.5Yr 3134GVHN1 FHLMC 1.5Yr 3134GVHN1 FHLMC 1.5Yr 3134GVHN1 FHLMC 1.5Yr 3134GVHV3 FHLMC 1.5Yr 08/10/2021 08/25/2021 09/13/2021 10/27/2021 10/27/2021 10/27/2021 10/27/2021 10/27/2021 11/10/2021 10/27/2021 11/30/2021 11/26/2021 08/08/2023 09/ 23/ 2021 09/ 23/ 2021 09/ 23/ 2021 09/ 23/ 2021 09/ 23/ 2021 09/ 30/ 2021 1525: FNMA-Fxd-S 30/ 360 3136G3WC5 FNMA 4YrNc6MoE 3135G0160 FNMA 3Yr 3135G0178 FNMA 4.83Yr 3135G0194 3135G0U43 3136G41Y9 3136G0787 3136G4UG6 3135G0Y49 3135G0X24 FNMA 5Yr FNMA 4.41Yr FNMA 5YrNc 1 YrQ FNMA 1.75YrNc2MoB FNMA 5YrNc 1 YrB FNMA 3YrNc 6M o B FNMA 4.83Yr 1565: FNMA-SIEP%-S 30/ 360 3136G3XT7 FNMA 5YrNc6MoB 1576: FNMA-Var-SDFR-Q A/360 3135G02H5 FNMA 1.5Yr 3135G02F9 FNMA 1Yr 3135G02K8 FNMA 2Yr 1700: FHLB-DISC NO1E 313384WG0 FHLB DISC N1E 313384WM7 FHLB DISC N1E 313384XT1 FHLB DISC N1E 313384WK1 FHLB DISC N1E 313384WW5 FHLB DISC N1E 313384WW5 FHLB DISC N1E 313384WL9 FHLB DISC N1E 313384WW5 FHLB DISC N1E 313384XP9 FHLB DISC N1E 313384XY0 FHLB DISC N1E 313384WM7 FHLB DISC N1E 313384W78 FHLB DISC N1E 313384WS4 FHLB DISC N1E 313384WP0 FHLB DISC N1E 313384W12 FHLB DISC N1E 313384YF0 FHLB DISC N1E 313384WW5 FHLB DISC N1E 313384A66 FHLB DISC N1E 313384L64 FHLB DISC N1E 313384D71 FHLB DISC N1E 1725: FHLB-Fxd-S 30/ 360 3130A7PV1 FHLB 5Yr 3130A7PU3 FHLB4Yr 07/13/2020 07/ 30/ 2020 10/05/2022 01/19/2023 09/12/2023 10/ 28/ 2024 10/ 26/ 2021 02/19/2025 02/21/2023 01/07/2025 1.800 1.750 1.700 1.800 1.770 1.700 1.600 1.550 1.700 1.500 1.800 1.150 1.400 1.500 1.000 1.876 1.500 1.625 1.625 1.625 1.625 1.625 1.625 1.625 1.625 1.625 1.625 1.625 1.500 1.611 .330 .330 .330 .330 .330 .330 .330 1.350 1.500 2.000 2.375 2.875 2.000 1.800 1.770 1.700 1.625 1.995 1.800 1.750 1.700 1.800 1.770 1.700 1.605 1.550 1.700 1.500 1.800 1.150 1.410 1.500 1.000 1.891 1.500 1.625 1.625 1.625 1.625 1.625 1.625 1.625 1.625 1.625 1.625 1.625 2.399 1.636 .330 .330 .330 .330 .330 .330 .330 1.350 1.604 2.322 2.495 2.333 2.000 1.800 1.770 1.700 1.094 1.913 5,000,000.00 5,000,000.00 10,000,000.00 5,785,000.00 5,000,000.00 10,000,000.00 10,000,000.00 10,000,000.00 26,400,000.00 10,000,000.00 36,000,000.00 35,000,000.00 5,000,000.00 5,000,000.00 25,000,000.00 722,627,000.00 15,000,000.00 15,000,000.00 16,500,000.00 15,000,000.00 15,000,000.00 15,000,000.00 15,000,000.00 10,000,000.00 17,000,000.00 14,000,000.00 4,500,000.00 20,000,000.00 5,000,000.00 177,000,000.00 25,000,000.00 25,000,000.00 25,000,000.00 25,000,000.00 25,000,000.00 25,000,000.00 150,000,000.00 10,000,000.00 10,000,000.00 15,000,000.00 10,000,000.00 30,000,000.00 10,000,000.00 50,000,000.00 5,000,000.00 15,000,000.00 10,000,000.00 165,000,000.00 5,000,000.00 5,000,000.00 10,000,000.00 5,785,000.00 5,000,000.00 10,000,000.00 9,998,000.00 10,000,000.00 26,400,000.00 10,000,000.00 36,000,000.00 35,000,000.00 4,997,500.00 5,000,000.00 25,000,000.00 722,384,402.50 15,000,000.00 15,000,000.00 16,500,000.00 15,000,000.00 15,000,000.00 15,000,000.00 15,000,000.00 10,000,000.00 17,000,000.00 14,000,000.00 4,500,000.00 20,000,000.00 4,790,170.00 176,790,170.00 25,000,000.00 25,000,000.00 25,000,000.00 25,000,000.00 25,000,000.00 25,000,000.00 150 000,000.00 10,000,000.00 9,969,700.00 14,782,200.00 9,944,100.00 30,670,500.00 10,000,000.00 50,000,000.00 5,000,000.00 15,000,000.00 10,247,300.00 165,613,800.00 100.397000 100.221000 100.821000 100.892000 100.757000 100.548000 100.919000 100.083000 100.309000 100.319000 100.141000 100.005000 100.050000 100.060000 100.031000 100.465395 100.093000 100.165000 100.216000 100.049000 100.049000 100.075000 100.075000 100.084000 100.106000 100.084000 100.140000 100.150000 100.049000 100.106480 99.970000 99.970000 99.970000 99.970000 99.970000 99.970000 99.970000 100.305000 100.434000 103.612000 105.390000 107.800000 100.672000 100.338000 100.757000 100.476000 104.969000 102.628515 07/ 27/ 2021 1.625 1.625 15,000,000.00 15,000,000.00 100.068000 1.625 1.625 15,000,000.00 12,000.00 100.068000 09/ 16/ 2021 03/ 16/ 2021 03/ 16/ 2022 .170 .130 .230 .170 .130 .230 177 05/ 01 / 2020 1.530 1.542 05/06/2020 1.569 1.582 06/05/2020 1.550 1.562 05/04/2020 1.570 1.580 05/15/2020 1.570 1.577 05/15/2020 1.570 1.577 05/05/2020 1.560 1.566 05/ 15/ 2020 1.565 1.571 06/01/2020 1.530 1.537 06/10/2020 .486 .487 05/06/2020 .560 .560 05/18/2020 .500 .500 05/11/2020 .500 .500 05/ 08/ 2020 .485 .485 05/12/2020 .570 .571 06/17/2020 .520 .521 05/15/2020 .570 .571 08/03/2020 .520 .521 10/22/2020 .300 .301 08/ 28/ 2020 .050 .050 AU- 25,000,000.00 25,000,000.00 25,000,000.00 75,000,000.00 25,000,000.00 25,000,000.00 50,000,000.00 50,000,000.00 50,000,000.00 25,000,000.00 70,000,000.00 25,000,000.00 50,000,000.00 50,000,000.00 50,000,000.00 50,000,000.00 50,000,000.00 50,000,000.00 50,000,000.00 50,000,000.00 50,000,000.00 50,000,000.00 75,000,000.00 50,000,000.00 945,000,000`90 25,000,000.00 25,000,000.00 25,000,000.00 75.000.000.00 99.970000 99.981000 99.802000 99.917667 24,809,812.50 24,801,695.83 49,608,194.44 49,686,000.00 49,768,861.11 24,884,430.56 69,745,200.00 24,901,100.69 49,783,250.00 49,938,575.00 49,956,444.44 49,952,778.78 49,957,638.89 49,962,277.78 49,952,500.00 49,930,666.67 49,950,125.00 49,899,611.11 74,867,500.00 49,989,513.89 942 346.176.69 99.994000 99.993000 99.987000 99.994000 99.991000 99.991000 99.993000 99.991000 99.988000 99.986000 99.993000 99.991000 99.992000 99.993000 99.992000 99.985000 99.991000 99.962000 99.921000 99.955000 99.981810 5,019,850.00 5,011,050.00 10,082,100.00 5,836,602.20 5,037,850.00 10,054,800.00 10,091,900.00 10,008,300.00 26,481,576.00 10,031,900.00 19,850.00 11,050.00 82,100.00 51,602.20 37,850.00 54,800.00 93,900.00 8,300.00 81,576.00 31,900.00 36,050,760.00 50,760.00 35, 001, 750.00 1,750.00 5,002,500.00 5,000.00 5,003,000.00 3,000.00 25,007,750.00 7,750.00 725, 990, 068.1 /N3, 605, 665.67 15,013,950.00 15,024,750.00 16,535,640.00 15,007,350.00 15,007,350.00 15,011,250.00 15,011,250.00 10,008,400.00 17,018,020.00 14,011,760.00 4,506,300.00 20,030,000.00 5,002,450.00 177,188,470.00 24,992,500.00 24,992,500.00 24,992,500.00 24,992,500.00 24,992,500.00 24,992,500.00 149,955,000.00 10,030,500.00 10,043,400.00 15,541,800.00 10,539,000.00 32,340,000.00 10,067,200.00 50,169,000.00 5,037,850.00 15,071,400.00 10,496,900.00 169,337,050.00 13,950.00 24,750.00 35,640.00 7,350.00 7,350.00 11,250.00 11,250.00 8,400.00 18,020.00 11,760.00 6,300.00 30,000.00 212,280.00 398,300.00 -7,500.00 -7,500.00 -7,500.00 -7,500.00 -7,500.00 -7,500.00 -45,000.00_ 30,500.00 73,700.00 759,600.00 594,900.00 1,669,500.00 67,200.00 169,000.00 37,850.00 71,400.00 249,600.00 3,723,250.00 15,010,200.00 10,200.00 3.708 3.745 4.656 4.646 4.649 3.505 3.763 1.381 4.680 2.840 2.825 1.972 4.799 4.787 1.490 3.221 3.871 3.904 4.890 4.893 4.893 3.641 3.910 1.405 4.915 2.915 2.915 1.997 4.989 4.989 1.501 3.380 1.339 1.362 1.378 1.403 1.427 1.455 1.539 1.575 1.539 1.575 1.537 1.575 1.537 1.575 1.539 1.575 1.573 1.614 1.539 1.575 1.631 1.668 1.617 1.658 3.235 3.356 1.560 1.M 1.473 1.473 1.473 1.473 1.473 1.496 1.477 .283 .329 2.409 2.680 3.265 4.315 1.529 4.649 2.803 4.570 2.428 1.482 1.482 1.482 1.482 1.482 1.501 1.485 .285 .332 2.515 2.805 3.452 4.581 1.573 4.893 2.896 4.775 W.539 1.302 1.323 15, 010, 200.00 10, 200.00 1.302 1.323 24,992,500.00 24,995,250.00 24,950,500.00 74,938,252.00 24,998,500.00 24,998,250.00 49,993,500.00 49,997,000.00 49,995,500.00 24,997,750.00 69,995,100.00 24,997,750.00 49,994,000.00 49,993,000.00 49,996,500.00 49,995,500.00 49,996,000.00 49,996,500.00 49,996,000.00 49,992,500.00 49,995,500.00 49,981,000.00 74,940,750.00 49,977,500.00 944,828,100.00 -7,500.00 -4,750.00 -49,500.00 -61.750.00 188,687.50 196,554.17 385,305.56 311,000.00 226,638.89 113,319.44 249,900.00 96,649.31 210,750.00 54,425.00 40,055.56 42,721.22 38,361.11 34,222.22 43,500.00 61,833.33 45,375.00 81,388.89 73,250.00 -12,013.89 2,481,923.31 04/05/2021 1.375 1.390 5,000,000.00 4,996,350.00 101.100000 5,055,000.00 58,650.00 04/06/2020 1.200 1.210 10,000,000.00 9,996,000.00 100.013000 10,001,300.00 5,300.00 1.446 .953 1.934 1.444 1.463 .959 1.959 1.460 .084 .085 .097 .099 .178 .181 .092 .093 .121 .123 .121 .123 .094 .096 .121 .123 .167 .170 .193 .195 .098 .099 .131 .132 .112 .112 .104 .104 .114 .115 .212 .214 .123 .123 .340 .342 .560 .562 .410 .411 .189 .994 1.014 .016 .016 C 0 UN-1Y O F FUV ERSDE 1REASJRER-TAX C 0 LLEC IO R 315 10 Month End Portfolio Holdings CUSP Description Maturity Coupon Yield Par Book Market Market Unrealized Modified Years To Date To Mat Value Value Price Value Gain/Loss Duration Maturity 3130ABYZi 3130AC2C7 3130ABZE9 3130ABY34 313379Q69 3130ADFW7 3130A0XD7 3130A0XD7 313378WG 2 313382AX1 3130AE6U9 3130AE6U9 3130A8R54 313378WG 2 3130AHE33 3130AHE66 3130AHG 64 FHLB 2.75YrNc 9M oE FHLB 3YrNc 1 YrE FHLB 3YrNc 1 YrE FHLB 2.5Yr FHLB 4.5 Yr FHLB 3Yr FHLB 3Yr FHLB 3Yr FHLB 4.08Yr FHLB 4.9Yr FHLB 3Yr FHLB 3Yr FHLB4.9YrNc1Mo FHLB 2.91Yr FHLB 5YrNc 1YrQ FHLB 5YrNc 1YrQ FHLB 5YrNc 1YrQ 05/ 22/ 2020 08/ 28/ 2020 08/ 28/ 2020 05/ 29/ 2020 06/ 10/ 2022 01/25/2021 03/ 12/ 2021 03/ 12/ 2021 03/ 11 / 2022 03/ 10/ 2023 05/07/2021 05/07/2021 07/ 28/ 2023 03/ 11 / 2022 10/21/2024 10/21/2024 10/ 28/ 2024 3130AHG31 FHLB 5YrNc2YrQ 10/29/2024 3130AHG 6 FHLB 3YrNc 6M 0 Q 10/28/2022 3130AHM59 FHLB 1.75YrNc9MoB 08/27/2024 3130A94N8 FHLB 1.6 YrNc2MoB 08/25/2021 3130AHM M2 FHLB4.5YrNc1YrA 06/11/2024 3130AHN66 FHLB 5YrNc 1 YrA 12/ 16/ 2024 3130AHQ R7 FHLB 5YrNc 1 YrA 12/ 23/ 2024 3130AHVZ3 FHLB 5YrNc 6M0Q 01/ 13/2025 3130AHWB5 FHLB 5YrNc 6M0Q 01/21/2025 3130AHWB5 FHLB 5YrNc 6M0Q 01/21/2025 3130AHXA6 FHLB 2.5YrNc 6M o B 07/ 22/ 2022 3130A8XW8 FHLB 2.58YrNc 1M o Q 08/25/2022 3130AJ5F2 FHLB 5YrNc 1Yr 02/12/2025 3130AJA33 FHLB 3YrNc3MoB 02/28/2023 3130AJF95 FHLB 5YrNc 1YrA 03/24/2025 3130AJB65 FHLB4YrNc6Mo 03/25/2024 3130AJAX7 FHLB 4YrNc 1 Yr 03/ 25/ 2024 3130AJC23 FHLB5YrNc6MoA 03/25/2025 1.600 1.600 5,000,000.00 5,000,000.00 100.172000 2.000 1.790 10,000,000.00 10,061,000.00 100.713000 1.650 1.650 5,000,000.00 5,000,000.00 100.570000 1.613 1.813 10,000,000.00 9,950,500.00 100.200000 2.125 2.182 7,975,000.00 7,955,620.75 103.843000 2.200 2.212 15,000,000.00 14,994,900.00 101.571000 2.375 2.484 10,000,000.00 9,968,000.00 101.930000 2.375 2.489 10,000,000.00 9,966,500.00 101.930000 2.500 2.619 10,000,000.00 9,954,700.00 104.152000 2.125 2.716 11,750,000.00 11,432,397.50 104.805000 2.700 2.725 7,650,000.00 7,644,492.00 102.637000 2.700 2.703 10,000,000.00 9,999,100.00 102.637000 1.800 2.965 3,700,000.00 3,504,196.00 100.002000 2.500 2.308 30,000,000.00 30,158,100.00 104.152000 2.000 2.000 10,000,000.00 10,000,000.00 100.748000 2.000 2.000 10,000,000.00 10,000,000.00 100.751000 2.000 2.000 10,000,000.00 10,000,000.00 100.775000 1.800 1.800 25,000,000.00 25,000,000.00 102.044000 2.000 2.000 50,000,000.00 50,000,000.00 100.112000 1.875 1.886 11,200,000.00 11,194,400.00 100.495000 1.700 1.735 25,000,000.00 24,985,000.00 100.151000 1.850 1.850 15,000,000.00 15,000,000.00 100.873000 1.940 1.940 10,000,000.00 10,000,000.00 100.951000 1.970 1.970 5,000,000.00 5,000,000.00 100.755000 2.000 2.000 10,000,000.00 10,000,000.00 100.347000 2.000 2.000 10,000,000.00 10,000,000.00 100.364000 2.000 2.000 10,000,000.00 10,000,000.00 100.364000 1.750 1.750 50,000,000.00 50,000,000.00 100.348000 1.801 1.801 25,000,000.00 25,000,000.00 100.168000 1.750 1.750 7,250,000.00 7,250,000.00 100.032000 1.800 1.800 15,000,000.00 15,000,000.00 100.110000 1.300 1.300 10,000,000.00 10,000,000.00 99.907000 1.620 1.620 6,200,000.00 6,200,000.00 100.256000 1.550 1.550 10,300,000.00 10,300,000.00 100.573000 1.500 1.500 5,000,000.00 5,000,000.00 100.068000 1.939 1.965 491,025,000.00 490,511,256.25 101.092902 496,391,422.25 5,880,1 5,008,600.00 10,071,300.00 5,028,500.00 10,020,000.00 8,281,479.25 15,235,650.00 10,193,000.00 10,193,000.00 10,415,200.00 12,314,587.50 7,851,730.50 10,263,700.00 3,700,074.00 31,245,600.00 10,074,800.00 10,075,100.00 10,077,500.00 25,511,000.00 50,056,000.00 11,255,440.00 25,037,750.00 15,130,950.00 10,095,100.00 5,037,750.00 10,034,700.00 10,036,400.00 10,036,400.00 50,174,000.00 25,042,000.00 7,252,320.00 15,016,500.00 9,990,700.00 6,215,872.00 10,359,019.00 8,600.00 10,300.00 28,500.00 69,500.00 325,858.50 240,750.00 225,000.00 226,500.00 460,500.00 882,190.00 207,238.50 264,600.00 195,878.00 1,087,500.00 74,800.00 75,100.00 77,500.00 511,000.00 56,000.00 61,040.00 52,750.00 130,950.00 95,100.00 37,750.00 34,700.00 36,400.00 36,400.00 174,000.00 42,000.00 2,320.00 16,500.00 -9,300.00 15,872.00 59,019.00 5,003,400.00 3,400.00 .141 .407 .407 .160 2.117 .802 .930 .930 1.883 2.825 1.066 1.066 3.183 1.886 4.296 4.296 4.315 4.343 2.477 4.220 1.375 3.996 4.454 4.470 4.521 4.543 4.543 2.246 2.335 4.633 2.825 4.806 3.842 3.847 4.783 2.621 .142 .411 .411 .162 2.195 .822 .948 .948 1.945 2.942 1.101 1.101 3.326 1.945 4.562 4.562 4.581 4.584 2.578 4.411 1.403 4.200 4.715 4.734 4.792 4.814 4.814 2.310 2.403 4.874 2.915 4.984 3.986 3.986 4.986 2.736 1767: RILB-Var-M A/360 3130A9R10 R-lLB4Yr 09/22/2020 1.074 1.074 10,000,000.00 10,000,000.00 100.084000 10,008,400.00 8,400.00 .474 .479 3130A9FM8 R-lLB4Yr 09/22/2020 1.074 1.074 15,000,000.00 15,000,000.00 100.084000 15,012,600.00 12,600.00 .474 .479 3130A9FR7 R-lLB4Yr 09/28/2020 1.091 1.091 10,000,000.00 10,000,000.00 100.060000 10,006,000.00 6,000.00 .491 .496 3130A9FR7 FHLB4Yr 09/28/2020 1.091 1.091 15,000,000.00 15,000,000.00 100.060000 15,009,000.00 9,000.00 .491 .496 3130AJ2N8 FHLB 1.16Yr 05/03/2021 1.505 1.581 25,000,000.00 24,978,764.50 99.912000 24,978,000.00 -764.50 1.078 1.090 1.223 1.249 j,5,000,000.00 74 o a4.50 100.018667 75 014 08%00 35,2,15.50 681 1770:R-ILB-Var-Q A/360 3130A8NI% R-LB 3Yr 07/01/2020 2.034 2.034 25,000,000.00 25,000,000.00 100.037000 25,009,250.00 9,250.00 .497 .252 3130AJASB FHLB 1.25Yr 05/26/2021 1.557 1.557 75,000,000.00 75,000,000.00 99.977000 74,982,750.00-17,250.00 1.138 1.153 3130AHVS9 FHLB6Mo 09/11/2020 1.628 1.314 50,000,000.00 50,075,000.00 99.990000 49,995,000.00 -80,000.00 .441 .449 3130AHVS9 FHLB6Mo 09/11/2020 1.628 1.313 50,000,000.00 50,075,000.00 99.990000 49,995,000.00 -80,000.00 .441 .449 1.652 1.495 200,000,000.00 200,150,000.00 99.991000 199,982,000.00 -168,000.00 .709 .. 1786: FHLB-Var-SOFT-Q A/360 3130AJEC9 FHLB6Mo 09/11/2020 .095 .095 25,000,000.00 25,000,000.00 99.932000 24,983,000.00 -17,000.00 .444 .449 .095 .095 25,000,000.00 25,000,000.00 99.932000 24,983,000.00 -17,000.00 .444 1900: FFCB-DISC NOTE 313312YLB FFCBDISC NlE 06/22/2020 1.530 1.545 25,000,000.00 24,755,625.00 99.984000 24,996,000.00 240,375.00 .224 .227 313312YF1 FFCBDISC NlE 06/17/2020 1.570 1.585 25,000,000.00 24,768,861.11 99.985000 24,996,250.00 227,388.89 .210 .214 1.550 1.565 50,000,000.00 49,524416.11 00 49,992,250.00 467,763.89 1925: FFC B-Fxd-S 30/ 360 3133EGSA4 FFCB4YrNc1YrA 08/24/2020 1.320 1.320 10,000,000.00 10,000,000.00 100.000000 10,000,000.00 0.00 .397 .400 3133EGVK8 FFCB4YrNc1YrA 09/21/2020 1.350 1.350 10,000,000.00 10,000,000.00 100.000000 10,000,000.00 0.00 .473 .477 3133EGXX8 FFCB4YrNc1YrA 10/13/2020 1.340 1.340 15,000,000.00 15,000,000.00 100.014000 15,002,100.00 2,100.00 .526 .537 3133EHUL5 FFCB3Yr 08/10/2020 1.890 1.890 5,000,000.00 5,000,000.00 100.555000 5,027,750.00 27,750.00 .358 .362 3133EHJ95 FFCB3Yr 10/26/2020 1.750 1.760 20,000,000.00 19,994,000.00 100.858000 20,171,600.00 177,600.00 .560 .573 3133EH6X6 FFCB4Yr 01/12/2022 2.200 2.365 10,000,000.00 9,938,000.00 103.098000 10,309,800.00 371,800.00 1.728 1.786 3133EEM7 FFCB3Yr 03/01/2021 2.500 2.501 10,000,000.00 9,999,700.00 102.218000 10,221,800.00 222,100.00 .899 .918 3133EJCE7 FFCB2.8Yr 02/12/2021 2.350 2.474 15,000,000.00 14,948,670.00 101.701000 15,255,150.00 306,480.00 .848 .871 3133EJKN8 FFCB5Yr 04/11/2023 2.700 2.721 10,000,000.00 9,990,300.00 106.410000 10,641,000.00 650,700.00 2.852 3.030 3133EJNS4 FFCB3Yr 05/10/2021 2.700 2.747 10,000,000.00 9,986,600.00 102.573000 10,257,300.00 270,700.00 1.074 1.110 3133EJD48 FFCB5Yr 10/02/2023 3.050 3.095 10,000,000.00 9,979,300.00 108.638000 10,863,800.00 884,500.00 3.248 3.507 3133EJT74 FFCB2.9Yr 11/15/2021 3.050 2.922 10,000,000.00 10,035,700.00 104.196000 10,419,600.00 383,900.00 1.555 1.627 3133EJ3L1 FFCB1.5Yr 06/24/2020 2.750 2.757 10,000,000.00 9,999,000.00 100.649000 10,064,900.00 65,900.00 .230 .233 3133EKRP3 FFCB5YrNc2YrA 06/21/2024 2.220 2.220 10,000,000.00 10,000,000.00 101.769000 10,176,900.00 176,900.00 3.985 4.227 3133EKM45 FFCB3Yr 09/06/2022 1.500 1.529 14,435,000.00 14,422,874.60 102.165000 14,747,517.75 324,643.15 2.375 2.436 3133EKM94 FFCB4YrNc1YrA 09/11/2023 1.900 1.900 10,000,000.00 10,000,000.00 100.315000 10,031,500.00 31,500.00 3.316 3.449 3133EK2A3 FFCB5YrNc1YrA 10/15/2024 1.920 1.920 10,000,000.00 10,000,000.00 100.631000 10,063,100.00 63,100.00 4.289 4.545 3133EK4B9 FFCB5YrNc2YrA 10/28/2024 1.820 1.820 10,000,000.00 10,000,000.00 101.424000 10,142,400.00 142,400.00 4.337 4.581 3133EKP75 FFCB4.9Yr 09/17/2024 1.600 1.672 6,128,000.00 6,107,471.20 104.289000 6,390,829.92 283,358.72 4.285 4.468 3133EK4A1 FFCB4YrNc1YrA 10/30/2023 1.930 1.930 5,000,000.00 5,000,000.00 100.702000 5,035,100.00 35,100.00 3.419 3.584 3133EKQA7 FFCB4.9Yr 09/10/2024 2.080 1.688 2,064,000.00 2,101,585.44 106.039000 2,188,644.96 87,059.52 4.227 4.449 3133EK7L4 FFCB1YrNc6MoA 11/19/2020 1.660 1.660 50,000,000.00 50,000,000.00 100.196000 50,098,000.00 98,000.00 .624 .638 3133ELDE1 FFCB3YrNc3MoA 12/12/2022 1.770 1.829 25,000,000.00 24,957,500.00 100.000000 25,000,000.00 42,500.00 2.608 2.701 3133ELMD3 FFCB3YrNc1YrA 02/10/2023 1.600 1.600 10,000,000.00 10,000,000.00 100.687000 10,068,700.00 68,700.00 2.777 2.866 3133ELMD3 FFCB3YrNc1YrA 02/10/2023 1.600 1.600 10,000,000.00 10,000,000.00 100.687000 10,068,700.00 68,700.00 2.777 2.866 31336MJ0 FFCB4YrNc1YrC 02/12/2024 1.690 1.690 5,000,000.00 5,000,000.00 100.787000 5,039,350.00 39,350.00 3.717 3.871 3133ELJD7 FFCB 1.16YrNc5MoC 04/22/2021 1.620 1.620 27,910,000.00 27,910,000.00 100.319000 27,999,032.90 89,032.90 1.044 1.060 316 C 0 UN1Y 0 F RIVERSIDE 1REASJRER-TAX COLLECTOR 11 Month End Portfolio Holdings CUSIP Description Maturity Coupon Yield Date To Mat Pa r Value Book Value Market Pric e Market Value Unrealized Modified Years To Gain/Loss Duration Maturity 3133ELM D3 3133EW F7 3133ELLW2 31336_NJ9 3133ELQ F4 3133ELQ E7 3133ELQ U1 3133ELQ V9 3133ELQ V9 3133ELQ U1 3133ELQ U1 3133ELQ P2 31336_1L8 3133EL1C8 3133ELUX0 3133ELUX0 FFCB 3YrNc 1 YrA FFC B 3.5YrNc 1 YrA FFCB 2YrNc3MoA FFC B 4YrNc 2YrA FFCB5YrNc3MoA FFC B 5YrNc 1 YrA FFCB 4.25YrNc 3M oA FFCB 4.5YrNc 3M oA FFCB 4.5YrNc 3M o A FFCB 4.25YrNc 3M o A FFCB 4.25YrNc 3M o FFCB 4YrNc 6M oA FFCB 1.5YrNc3MoA FFC B 5YrNc 1 YrA FFCB 2YrNc 1 YrA FFCB 2YrNc 1YrA 1930: FFCB-Var-M A/360 3133EF156 FFCB4Yr 3133EF229 3133EG C E3 3133EG C E3 3133EG4C6 3133EJDG 1 3133EJJEO FFCB4Yr FFCB 5Yr FFCB 5Yr FFCB 3.9Yr FFCB 5Yr FFCB 3.5Yr 1936: FFCB-Var-SOFR.Q A/360 3133E1063 FFCB2Yr 3133EK6V3 FFCB3Yr 3133EK6V3 FFCB3Yr 3133EK6V3 FFCB3Yr 3133EK6V3 FFCB3Yr 3133EK6V3 FFCB3Yr 3133ELCX0 FFCB3Yr 3133ELCX0 3133ELCX0 3133ELCX0 3133ELCX0 3133ELCX0 FFCB 3Yr FFCB 3Yr FFCB 3Yr FFCB 3Yr FFCB 3Yr 02/ 10/ 2023 08/ 18/ 2023 05/ 05/ 2022 02/ 28/ 2024 03/ 03/ 2025 03/ 03/ 2025 06/ 03/ 2024 09/ 03/ 2024 09/ 03/ 2024 06/ 03/ 2024 06/ 03/ 2024 03/04/2024 09/16/2021 03/ 17/ 2025 03/ 30/ 2022 03/ 30/ 2022 04/01/2020 04/ 13/ 2020 05/ 25/ 2021 05/ 25/ 2021 01/18/2022 02/21/2023 10/04/2021 09/24/2021 11/07/2022 11 / 07/ 2022 11 / 07/ 2022 11 / 07/ 2022 11 / 07/ 2022 12/ 09/ 2022 12/ 09/ 2022 12/ 09/ 2022 12/ 09/ 2022 12/09/2022 12/09/2022 1.600 1.640 1.610 1.550 1.750 1.640 1.670 1.700 1.700 1.670 1.670 1.600 .750 1.125 1.000 1.000 1.730 1.816 1.042 1.217 1.217 .852 .994 1.381 1.216 1950: RNAC-F cd-S30/360 3132X0365 FAM CA 4.9Yr 3132X04F5 FAM CA 2.91Yr 31422BEP1 FAM CA 1.08Yr 31422BRH5 FAM CA 1.08YrNc4MoB 31422BWE6 FMARC 1YrNc6MoB 06/30/2023 07/23/2021 05/ 29/ 2020 01/13/2021 03/ 18/ 2021 .150 .320 .320 .320 .320 .320 .330 .330 .330 .330 .330 .330 .315 2.850 2.840 2.430 1.700 .720 1.600 1.640 1.615 1.550 1.750 1.640 1.682 1.700 1.700 1.676 1.686 1.600 .784 1.125 1.000 1.000 1.747 1.816 1.042 1.217 1.217 .345 .994 1.381 1.162 .150 .320 .320 .320 .320 .320 .330 .330 .330 .330 .330 .330 15,000,000.00 10,000,000.00 20,000,000.00 5,000,000.00 10,000,000.00 10,000,000.00 10,000,000.00 7,900,000.00 5,000,000.00 5,000,000.00 21,000,000.00 15,000,000.00 10,000,000.00 10,000,000.00 25,000,000.00 25,000,000.00 544,437,000.00 25,000,000.00 50,000,000.00 10,000,000.00 10,000,000.00 15,000,000.00 15,000,000.00 15,000,000.00 140 000 000.00 15,000,000.00 25,000,000.00 25,000,000.00 25,000,000.00 15,000,000.00 25,000,000.00 9,000,000.00 24,000,000.00 24,000,000.00 24,000,000.00 14,000,000.00 24,000,000.00 15,000,000.00 10,000,000.00 19,998,000.00 5,000,000.00 10,000,000.00 10,000,000.00 9,995,000.00 7,900,000.00 5,000,000.00 4,998,750.00 20,986,350.00 15,000,000.00 9,995,000.00 10,000,000.00 25,000,000.00 25,000,000.00 544,243,801.24 100.958069 25,000,000.00 50,000,000.00 10,000,000.00 10,000,000.00 15,139,095.00 15,000,000.00 15,000,000.00 140 139 095.00 100.687000 100.803000 100.010000 101.847000 100.118000 100.608000 100.094000 100.116000 100.116000 100.094000 100.094000 100.246000 99.982000 100.223000 100.024000 100.024000 100.000000 100.012000 100.270000 100.270000 100.062000 99.569000 100.011000 100.004500 15,103,050.00 10,080,300.00 20,002,000.00 5,092,350.00 10,011,800.00 10,060,800.00 10,009,400.00 7,909,164.00 5,005,800.00 5,004,700.00 21,019,740.00 15,036,900.00 9,998,200.00 10,022,300.00 25,006,000.00 25,006,000.00 549,653,079.53 25,000,000.00 50,006,000.00 10,027,000.00 10,027,000.00 15,009,300.00 14,935,350.00 15,001,650.00 140 006 300.00 103,050.00 80,300.00 4,000.00 92,350.00 11,800.00 60,800.00 14,400.00 9,164.00 5,800.00 5,950.00 33,390.00 36,900.00 3,200.00 22,300.00 6,000.00 6,000.00 5,409,278.29 0.00 6,000.00 27,000.00 27,000.00 -129,795.00 -64,650.00 1,650.00 -132 795.00 2.777 3.269 2.058 3.781 4.690 4.705 3.992 4.237 4.237 3.993 3.992 3.785 1.447 4.810 1.975 1.975 2.295 .003 .036 1.144 1.144 1.768 2.818 1.484 26 15,000,000.00 25,000,000.00 25,000,000.00 25,000,000.00 15,000,000.00 25,000,000.00 9,000,000.00 24,000,000.00 24,000,000.00 24,000,000.00 14,000,000.00 24,000,000.00 99.657000 100.105000 100.105000 100.105000 100.105000 100.105000 99.954000 99.954000 99.954000 99.954000 99.954000 99.954000 .315 249,000,000.00 249,000,000.00 100.005847 2.964 2.864 2.430 1.700 .720 10,000,000.00 10,000,000.00 25,000,000.00 40,000,000.00 25,000,000.00 9,947,900.00 9,993,300.00 25,000,000.00 40,000,000.00 25,000,000.00 106.489000 102.959000 100.430000 100.051000 100.011000 110,000,000.00 109,941,200.00 100.977682 1965: FMAC-Var-M A/360 3132X0A18 FAM CA 2.5 Yr 3132X0S77 FAM CA 3Yr 3132X0U90 FAM CA 3Yr 31422BWC0 FAM CA 1.6Yr 1986: FMAC-Var-SOFR-Q A/360 31422BWG1 FM AC 1YrFLOATING 2350: MUNIS•S30/360 419792JH0 HAWAII STALE 76222RUM 2 3733845L6 419792NF9 13063DAC2 76222RW15 76222RWU2 13063DGA0 13063DAC2 13063DAD0 544351 M M 8 13063DAD0 13063DAD0 13063DGA0 419792YK6 419792YL4 13063CSQ4 368079HQ5 365298X94 835569G M 0 RHO D E ISLAND S1AAlE G EO RG IA S1AAlE HAWAII STALE S1AAlE OF CAU FO RN IA RHODEISLAND ST& PROV RHODEISLAND ST& PROV STAIEOFCAUFORNIA STATE OFCAUFORNIA S1AAlE OF CAU FO RN IA CIT( OFLOSANGR FS S1AAlE OF CAU FO RN IA S1AAlE OF CAU FO RN IA S1AAlE OF CAU FO RN IA S1AAlE OF HAWAII S1AAlE OF HAWAII STAIEOFCAUFORNIA GAVILAN CMNiYCLG GO GARDEN GROVE USD SONOMA CO JUNIOR GO 3020: COMMERCIAL PAPER 16677JE77 CHEVRON 63763PEL9 NAiLSEC CLEARING CORP 89233GEJ1 TOYOTA MOTOR CORP 89233GE69 TOYOTA MOTOR CORP 63763PEF2 NAiLfC CLEARING CORP 06/02/2020 04/23/2021 05/ 10/ 2021 05/ 28/ 2021 1.721 .997 .883 .682 1.104 03/ 25/ 2021 .120 .120 .715 .997 .883 .682 .808 25,000,000.00 25,000,000.00 10,000,000.00 25,000,000.00 85,000,000.00 25,063,500.00 25,000,000.00 10,000,000.00 25,000,000.00 85,063,500.00 100.001000 99.962000 99.926000 99.977000 99.973647 14,948,550.00 25,026,250.00 25,026,250.00 25,026,250.00 15,015,750.00 25,026,250.00 8,995,860.00 23,988,960.00 23,988,960.00 23,988,960.00 13,993,560.00 23,988,960.00 249,014,560.00 10,648,900.00 10,295,900.00 25,107,500.00 40,020,400.00 25,002,750.00 111,075,450.00 25,000,250.00 24,990,500.00 9,992,600.00 24,994,250.00 84,977,600.00 .120 25,000,000.00 25,000,000.00 99.980000 24,995,000.00 .120 25,000,000.00 25,000,000.00 99.980000 24000.00 -51,450.00 26,250.00 26,250.00 26,250.00 15,750.00 26,250.00 -4,140.00 -11,040.00 -11,040.00 -11,040.00 -6,440.00 -11,040.00 1.461 2.535 2.535 2.535 2.535 2.535 2.625 2.625 2.625 2.625 2.625 2.625 2.866 3.384 2.096 3.915 4.926 4.926 4.178 4.430 4.430 4.178 4.178 3.929 1.463 4.964 1.997 1.997 2.383 .003 .036 1.151 1.151 1.803 2.896 1.512 .842 1.485 2.605 2.605 2.605 2.605 2.605 2.693 2.693 2.693 2.693 2.693 2.693 04/01/2020 1.660 1.660 5,055,000.00 5,055,000.00 100.000000 5,055,000.00 05/01/2020 1.625 1.520 2,660,000.00 2,670,719.80 100.403000 2,670,719.80 07/01/2020 3.000 1.370 6,825,000.00 7,254,770.25 106.297000 7,254,770.25 10/01/2020 1.370 1.319 2,250,000.00 2,254,320.00 100.192000 2,254,320.00 04/01/2021 2.625 2.011 14,400,000.00 14,688,720.00 102.005000 14,688,720.00 04/01/2020 2.750 2.451 3,065,000.00 3,082,378.55 100.567000 3,082,378.55 04/01/2021 2.750 2.551 3,150,000.00 3,167,766.00 100.564000 3,167,766.00 04/01/2021 2.800 2.799 16,000,000.00 16,000,640.00 100.004000 16,000,640.00 04/01/2021 2.625 2.850 1,795,000.00 1,784,301.80 99.404000 1,784,301.80 04/01/2022 2.367 2.960 1,500,000.00 1,468,800.00 97.920000 1,468,800.00 09/01/2021 4.000 2.919 8,915,000.00 9,200,993.20 103.208000 9,200,993.20 04/01/2022 2.367 3.120 17,695,000.00 17,256,340.95 97.521000 17,256,340.95 04/01/2022 2.367 3.290 25,000,000.00 24,275,250.00 97.101000 24,275,250.00 04/01/2021 2.800 2.680 10,825,000.00 10,852,170.75 100.251000 10,852,170.75 01/01/2021 3.250 2.733 12,745,000.00 12,864,165.75 100.935000 12,864,165.75 01/01/2022 2.770 2.770 3,500,000.00 3,500,000.00 100.000000 3,500,000.00 04/01/2020 1.800 2.501 14,830,000.00 14,729,897.50 99.325000 14,729,897.50 08/01/2020 2.470 2.470 1,650,000.00 1,650,000.00 100.000000 1,650,000.00 08/01/2020 1.875 1.875 1,000,000.00 1,000,000.00 100.000000 1,000,000.00 08/01/2020 1.837 1.837 700,000.00 700,000.00 100.000000 700,000.00 . . 2.581 2 28 153,561290.00 153,456,234.55 99.932427 153,456,234.55 701,000.00 3.060 3.249 302,600.00 1.272 1.312 107,500.00 .160 .162 20,400.00 .773 .789 2,750.00 .959 .964 1,134,250.00 -63,250.00 .169 .173 -9,500.00 1.050 1.063 -7,400.00 1.095 1.110 -5,750.00 1.152 1.159 -85,900.00 * .826 * .835 -5,000.00 .983 .984 -5,000.00 .983 .984 0.00 .003 .003 0.00 .084 .085 0.00 .250 .252 0.00 .496 .504 0.00 .974 1.003 0.00 .003 .003 0.00 .970 1.003 0.00 .969 1.003 0.00 .970 1.003 0.00 1.916 2.003 0.00 1.368 1.422 0.00 1.914 2.003 0.00 1.913 2.003 0.00 .969 1.003 0.00 .732 .756 0.00 1.686 1.756 0.00 .003 .003 0.00 .333 .337 0.00 .334 .337 0.00 .334 .337 0.00 1.. 05/07/2020 1.650 1.664 94,000,000.00 93,220,191.67 99.870000 93,877,800.00 657,608.33 .100 .101 05/20/2020 1.750 1.766 35,000,000.00 34,690,347.22 99.823056 34,938,069.44 247,722.22 .135 .137 05/18/2020 1.830 1.847 50,000,000.00 49,545,041.67 99.830278 49,915,138.89 370,097.22 .129 .132 05/06/2020 1.860 1.875 50,000,000.00 49,599,583.33 99.873611 49,936,805.56 337,222.23 .097 .099 05/15/2020 1.800 1.814 20,000,000.00 19,842,000.00 99.841111 19,968,222.22 126,222.22 .121 .123 CO UN1Y OF F6V ERSDE 1REASJRER-TAX CO LLECIO R 317 12 Month End Portfolio Holdings CUSP Description Maturity Coupon Yield Par Book Market Market Unrealized Modified Years To Date To Mat Value Value Price Value Gain/Loss Duration Maturity 89233GFC5 TOYOTA MOTOR CORP 16677JEJ1 CHEVRON CORP 03785DE44 APPLE 63763PEJ4 NAIL SEC CLEARING CORP 03785DE69 APPLE 63763PE88 NATLfC CLEARING CORP 63763PDP1 NAIL SEC CLEARING CORP 63763PE62 NAIL SLC CLEARING CORP 63763PEF2 NAIL SLC CLEARING CORP 30229AEE5 EXXON MOBIL 03785DJ98 APPLE 03785Da6 APPLE 89233GH41 TOYOTA M OTO R CO RP 89233GE51 TOYOTA M OTO R CO RP 03785DE6 APPLE 03785DF35 APPLE 30229AF07 EXXON MOBIL 30229AF07 EXXON MOBIL 63763PFP9 NAIL EC CLEARING CORP 06/12/2020 1.860 1.877 20,000,000.00 19,816,066.67 99.720000 05/18/2020 1.700 1.712 20,000,000.00 19,856,444.44 99.830278 05/04/2020 1.630 1.639 10,000,000.00 9,944,308.33 99.880833 05/18/2020 1.680 1.690 28,000,000.00 27,830,133.33 99.830278 05/06/2020 1.620 1.629 50,000,000.00 49,736,750.00 99.873611 05/08/2020 1.670 1.679 25,000,000.00 24,865,472.22 99.866389 04/23/2020 1.670 1.678 20,000,000.00 19,907,222.22 99.920556 05/06/2020 1.670 1.679 50,000,000.00 49,740,222.22 99.873611 05/15/2020 1.670 1.679 30,000,000.00 29,833,000.00 99.841111 05/14/2020 1.590 1.598 100,000,000.00 99,509,750.00 99.844722 09/09/2020 1.630 1.647 50,000,000.00 49,481,569.44 99.373889 05/20/2020 1.570 1.577 25,000,000.00 24,884,430.56 99.823056 08/04/2020 1.690 1.704 40,000,000.00 39,662,000.00 99.513889 05/05/2020 1.680 1.687 60,000,000.00 59,750,800.00 99.877222 05/20/2020 1.570 1.577 25,000,000.00 24,890,972.22 99.823056 06/03/2020 1.570 1.578 25,000,000.00 24,875,708.33 99.755000 06/24/2020 1.610 1.619 25,000,000.00 24,861,361.11 99.673333 06/24/2020 1.610 1.619 20,000,000.00 19,889,088.89 99.673333 06/23/2020 1.570 1.578 20,000,000.00 19,895,333.33 99.677222 0 1.672 1.683 892,000,000.00 886,127,797.20 99.794348 19,944,000.00 19,966,055.56 9,988,083.33 27,952,477.78 49,936,805.56 24,966,597.22 19,984,111.11 49,936,805.56 29,952,333.33 99,844,722.22 49,686,944.44 24,955,763.89 39,805,555.56 59,926,333.33 24,955,763.89 24,938,750.00 24,918,333.33 19,934,666.67 19,935,444.44 40,111.11 890,165,583.33 4,037,786.13 127,933.33 109,611.12 43,775.00 122,344.45 200,055.56 101,125.00 76,888.89 196,583.34 119,333.33 334,972.22 205,375.00 71,333.33 143,555.56 175,533.33 64,791.67 63,041.67 56,972.22 45,577.78 .196 .129 .092 .129 .097 .102 .062 .097 .121 .119 .436 .135 .339 .094 .135 .173 .229 .229 .226 .151 .200 .132 .093 .132 .099 .104 .063 .099 .123 .121 .444 .137 .345 .096 .137 .175 .233 .233 .230 3130: CORD-Fxd-S30/360 594918BG8 M ICROSO FTCO RP 11/03/2020 2.000 2.543 25,000,000.00 24,649,750.00 100.220000 25,055,000.00 405,250.00 .577 .595 478160BS2 JOHNSON & JOHNSON 03/01/2021 1.650 2.646 12,000,000.00 11,663,160.00 100.379000 12,045,480.00 382,320.00 .901 .918 478160BS2 JOHNSON & JOHNSON 03/01/2021 1.650 2.625 12,969,000.00 12,617,410.41 100.379000 13,018,152.51 400,742.10 .901 .918 478160BS2 JOHNSON & JOHNSON 03/01/2021 1.650 3.149 10,295,000.00 9,955,059.10 100.379000 10,334,018.05 378,958.95 .898 .918 594918BG8 MICROSOFTCORP 11/03/2020 2.000 2.912 10,100,000.00 9,929,411.00 100.220000 10,122,220.00 192,809.00 .576 .595 053015AD5 AUTOMATIC DATA 09/15/2020 2.250 1.812 13,976,000.00 14,021,841.28 100.165000 13,999,060.40 -22,780.88 .456 .460 Mr 1 R95 2 568 84,340,000.00 82,836,631,79 100 277.67 84,573,930.96 1,737,299.17 .692 4070:CD/ TD-Q A/365 48128LU72 JPMORGAN 11/16/2020 1.648 1.648 25,000,000.00 25,000,000.00 100.000000 25,000,000.00 0.00 .619 .630 48128LV22 JPMORGAN 11/20/2020 1.623 1.623 75,000,000.00 75,000,000.00 100.000000 75,000,000.00 0.00 .631 .641 s 1.629 1.629 100,000,000.00 100,000,000.00 100.000000 je0,000,000.00 0.00 .6 4500: NCD-MatA/360 06052TH52 BANK OFAMERICA 05/20/2020 90333VW55 US BANK 05/22/2020 89114NBH7 TORONTO DOMINION 05/22/2020 90333VX21 US BANK 06/03/2020 89114NDM4 TORONTO DOMINION 06/12/2020 90333VX88 US BANK NA 05/14/2020 060521H78 BANK OFAMERICA 07/01/2020 Total Fund 1.840 1.840 50,000,000.00 50,000,000.00 100.000000 50,000,000.00 0.00 .134 .137 1.760 1.760 50,000,000.00 50,000,000.00 100.000000 50,000,000.00 0.00 .140 .142 1.820 1.820 50,000,000.00 50,000,000.00 100.000000 50,000,000.00 0.00 .140 .142 1.750 1.750 50,000,000.00 50,000,000.00 100.000000 50,000,000.00 0.00 .172 .175 1.850 1.850 20,000,000.00 20,000,000.00 100.000000 20,000,000.00 0.00 .196 .200 1.780 1.780 20,000,000.00 20,000,000.00 100.000000 20,000,000.00 0.00 .118 .121 1.850 1.850 50,000,000.00 50,000,000.00 100.000000 50,000,000.00 0.00 .247 .252 -.- 1.806 1.806 290,000,000.00 290,000,000.00 100.000000 290,000,000.00 0.00 .165 .168 1.475 1.462 7,272,044,944.14 7,261,665,325.07 100.391298 7,300,500,274.82 38,834,949.75 1.158 1.199 Grand Total 1.475 1.462 7,272,044,944.14 7,261,665,325.07 100.391298 7,300,500,274.82 38,834,949.75 1.158 1.t� 318 C 0 UN1Y 0 F RIVERSIDE 1PEASJRER-TAX COLLECTOR 13 The Mission Inn, Downtown Riverside. Digital Image. The Mission Inn. http://www.missioninn.com/about-en.html CO UN1Y OF RIVERSID E TREASURER TAX C O LLEC TO R 319 COUNTY OF RIVERSIDE TREASURER -TAX C O LLEC TO R CAPITAL MARKETS COUNTY A D M IN ISTRA TIV E CENTER 4080 LEMON STREET, 4TH FLOOR, RIVERSIDE, CA 92502-2205 WWW.0 0 UNTYTREASURER.O RG AGENDA ITEM 7D RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: June 10, 2020 TO: Riverside County Transportation Commission FROM: Michele Cisneros, Deputy Director of Finance Theresia Trevino, Chief Financial Officer THROUGH: Anne Mayer, Executive Director SUBJECT: Quarterly Financial Statements STAFF RECOMMENDATION: This item is for the Commission to receive and file the Quarterly Financial Statements for the nine months ended March 31, 2020. BACKGROUND INFORMATION: During the first nine months of the fiscal year, staff monitored the revenues and expenditures of the Commission. The attached financial statements present the revenues and expenditures for the first nine months of the fiscal year. Period closing accrual adjustments are not included for revenues earned but not billed and expenditures incurred for goods and services received but not yet invoiced, as such adjustments are normally made during the year-end closing process. The operating statement shows the Measure A and Local Transportation Fund (LTF) sales tax revenues for the third quarter at 64 percent of the budget. This is a result of Governmental Accounting Standards Board (GASB) Statement No. 33, Accounting and Financial Reporting for nonexchange Transactions. GASB Statement No. 33 requires sales tax revenues to be accrued for the period in which they are collected at the point of destination or sale, as applicable. The California Department of Tax and Fee Administration (CDTFA) collects the sales tax funds and remits these funds to the Commission after the reporting period for the businesses. This creates a two -month lag in the receipt of revenues by the Commission. Accordingly, these financial statements reflect the revenues related to collections for January 2020. On a cash basis, the Measure A and LTF sales tax receipts are 0.14 percent and 0.62 percent higher, respectively, than the same period last fiscal year. This is primarily a result of the resolution of processing issues encountered by the CDTFA and its implementation of a new centralized revenue opportunity system in late Fiscal Year 2017/18 and early FY 2018/19. This had a direct impact on the fluctuation of cash payments received by the Commission from CDTFA. The CDTFA appears to have resolved most of the issues as reflected in this operating statement. In March, the federal government as well as California's Governor Newsom issued emergency declarations related to the COVID-19 pandemic. Further, on March 19, Governor Newsom issued Agenda Item 7D 321 Executive Order N-33-20, a stay at home order to protect the health and well-being of all Californians and to establish consistency across the state in order to slow the spread of COVID-19. The County of Riverside also issued a directive to county residents supporting the Governor's executive order. COVID-19 and the related "stay at home" orders have negatively impacted the local, regional, state, and federal economies; the magnitude and duration of these impacts is uncertain. Nonetheless, Commission staff determined that it was critical to reassess the FY 2019/20 revenue projections for Measure A and LTF. At its May 13 meeting, the Commission approved the revised FY 2019/20 revenue projections of $178 million for Measure A revenues and $91 million for LTF revenues, reflecting a $24 million and $12 million decrease in Measure A and LTF revenues, respectively. These adjustments to budgeted revenues are included in the attached financial statements. Federal, state, and local reimbursements are generally on a reimbursement basis. The Commission will receive these revenues as eligible project costs are incurred and invoiced to the respective agencies. The negative revenue amounts for local reimbursements reflect the reversal of FY 2018/19 accrued revenues at the beginning of FY 2019/20 in excess of amounts billed through the third quarter. Reimbursement invoices for the expenditures for the third quarter will be prepared and submitted in the fourth quarter. During the FY 2019/20 budget process, the Commission conservatively estimated Transportation Uniform Mitigation Fee (TUMF) revenues of $25 million passed through from the Western Riverside Council of Governments (WRCOG). The Commission received the July through December 2019 TUMF receipts through the third quarter. Staff expects the January 2020 through March 2020 TUMF receipts in the fourth quarter. Management analyzed TUMF revenues for the first six months of FY 2019/20 and determined an average monthly TUMF revenue amount. The analysis showed a 14 percent decrease in TUMF revenues for the first half of FY 2019/20 compared to the same period for FY 2018/19. Additionally, actual revenues were tracking below the FY 2019/20 projections. Management assumed that TUMF revenues for the last four months of FY 2019/20. At its May 13 meeting, the Commission approved the revised FY 2019/20 TUMF revenue projection of $16 million, reflecting an $11 million decrease in revenues. This adjustment to budgeted revenues is included in the attached financial statements. During the FY 2019/20 budget process, the Commission conservatively budgeted at $36.1 million projected toll transactions for the RCTC 91 Express Lanes operations based on estimated toll transactions and current traffic and revenue data. The RCTC 91 Express Lanes toll transactions exceeded initial expectations. Staff submitted a mid -year budget adjustment in the third quarter of $25.3 million to increase the estimated toll revenues based on actuals received through December 2019 and the Investment Grade Traffic and Revenue Study, Investment Grade Study Refresh 2018. The operating statement shows toll revenues at 72 percent of the budget and toll violations and fee revenues at 128 percent of the budget. Given the COVID-19 and the related "stay at home" order impacts, staff will continue to monitor the toll transactions. The operating statement shows other revenues at 86 percent of the $553,000 budget and reflects property management lease revenues. Agenda Item 7D 322 The operating statement shows investment income at 129 percent of the $9.5 million budget. During the development of the FY 2019/20 budget, staff estimated investment income rate at 2 percent, as investment income during the first quarter of calendar year 2019 ranged between 2 — 2.5 percent. Since the adoption of the budget in June 2019, the Federal Reserve has cut interest rates five times to a level of 0 — 0.25 percent as recently as March 16. Staff lowered its expectations of investment income results and submitted a mid -year budget adjustment of $3.3 million in the third quarter to decrease investment income from $12.8 million to $9.5 million. The expenditures/expenses and other financing sources/uses categories are in line overall with the expectations of the budget with the following exceptions: • Salaries and benefits at 75 percent of the budget reflect the one-time disbursement to fund the Commission's California Public Employees Retirement System net pension liability of $8.6 million. Staff submitted a mid -year budget adjustment in the third quarter to increase the estimated $8.1 million budget approved by the Commission in June 2019 by $506,000 for the final actuarial determined net pension liability; • Professional services are under budget primarily due to unused budget authority for rail operations and development activities, highway general legal services, toll operations, and public outreach activities; • Support costs are under budget due to unused budget authority for administrative activities, rail operations and development activities, toll operations, and public outreach activities; • Program operations are under budget due to unused budget authority for the toll operations, motorist and commuter assistance program operations, highway and rail program management, and station security; • The status of significant Commission capital projects (engineering, construction, design -build, and right of way/land) with budget amounts exceeding $5 million is discussed in the attachment; • Operating and capital disbursements are made as claims are submitted to the Commission by transit operators; • Special studies unused budget authority is related to feasibilities studies; • Local streets and roads expenditures are related to Measure A sales tax revenues. These financial statements reflect the turnback payments through January 2020. The impacts of COVID-19 prompted staff to submit budget adjustments reflecting a $7.3 million decrease in FY 2019/20; • Regional arterial expenditures primarily represent expenditures for the highways and regional arterial program administered by Coachella Valley Association of Governments (CVAG). CVAG requests reimbursements from the Commission based on available funds and sufficient budget authority; • Debt service principal payments are made annually on June 1, while debt service interest payments are made semiannually on December 1 and June 1. On a quarterly basis in the RCTC 91 Express Lanes Enterprise Fund accounting records, the Commission records accrued interest including compounded interest on the 91 Project Transportation Agenda Item 7D 323 Infrastructure Finance and Innovation Act (TIFIA) loan and accreted interest on the 2013 Toll Revenue Bonds, Series B (capital appreciation). However, $16.2 million of the $21.6 million interest cost related to toll revenue debt through the third quarter will not be paid in the current year and therefore is not included in the FY 2019/20 budget; • Capital outlay expenditures is under budget due to unused budget authority for office and property improvements for station rehabilitation, toll operations transponders, and Commission office, network, hardware, and software improvements; • Depreciation is recorded as part of the accrual adjustments in the RCTC 91 Express Lanes Enterprise Fund accounting records; however, such depreciation is not paid and therefore is not included in the FY 2019/20 budget; • Loss on sale of land is recorded as part of the RCTC 91 Express Lanes Enterprise Fund accounting records and reflects the loss on sale of excess lane purchased for the 91 Project. Loss on sale of land is not a cash -related item and, therefore, is not included in the FY 2019/20 budget; • The Commission entered into a loan agreement with the U.S. Department of Transportation for a $152.5 million TIFIA loan to pay eligible 1-15 Express Lanes project costs. Proceeds of the TIFIA loan may be drawn upon after certain conditions have been met. Through the third quarter, the Commission drew down $79.2 million for a cumulative inception to date total in TIFIA loan proceeds of $94.1 million. During construction of the 1-15 Express Lanes project and for a period of up to five years following substantial completion, interest is compounded and added to the TIFIA loan. TIFIA debt service payments are expected to commence in June 2025, which is approximately five years after substantial completion of the 1-15 Express Lanes project, through 2055; and • In March, the Commission approved the refinancing of the 91 Project 2013 Toll Revenue Bonds, Series A (current interest) and TIFIA Loan. Due to COVID-19 and related municipal debt market disruptions, the Commission postponed the refinancing until FY 2020/21. Accordingly, significant variances exist for cost of issuance and payment to escrow agent included in debt service and for debt proceeds and bond premium included in other financing sources. Attachments: 1) Quarterly Project Status — March 2020 2) Quarterly Financial Statements — March 2020 Agenda Item 7D 324 RIVERSIDE COUNTY TRANSPORTATION COMMISSION QUARTERLY PROJECT STATUS 3rd QUARTER FOR NINE MONTHS ENDED 3/31/2020 FY 2019/20 3RD QUARTER BUDGET Project Description EXPENDITURES THROUGH 3RD QUARTER ATTACHMENT 1 Project Status 91 Project (P003028) The project connects with Orange County Transportation Authority's tolled express lanes at the Orange County/Riverside County line and continues approximately eight miles to the Interstate (I)-15/State Route (SR)-91 interchange. The project involves widening pavement on the outside of the existing highway to reposition general purpose lanes and repurposing the existing high occupancy vehicle lanes to accommodate two -tolled express lanes in the median in each direction. The 91 Project also involves constructing one new general purpose lane in each direction from SR-71 to 1-15, ultimately providing two -tolled express lanes and five general purpose lanes in each direction. 91 Project development activities began in September 2007, construction work related to roadway and structures began in July 2014, and the toll lanes opened in March 2017. The total cost of the 91 Project is estimated at $1.4 billion, including capitalized interest, debt service reserves, contingency, and cost of issuance. The FY 2019/20 budget amount is $26,195,400. 1-15 Express Lanes project (P003027) The project will generally add two tolled express lanes in each direction from SR-60 to Cajalco Road in Corona. Project development activities began in April 2008, and lanes are expected to open to traffic in 2020. The total project cost is estimated at $472 million, which includes $42 million of contingency. The FY 2019/20 budget amount is $122,809,400. $7,396,700 96,737,700 $3,551,651 84,857,230 The under run of the FY 2019/20 budget at the third quarter is due to accrual reversals for the Army Corps of Engineers Reach 9 project ($1.7 million); the city of Corona has not billed for its Ontario Improvements project ($1.1 million); and under runs in the project and construction management (PCM) contract ($0.7 million) and general legal services ($0.3 million). The under run of the FY 2019/20 budget at the third quarter is due to accrual reversals for COZEEP, flagging, and BNSF ($0.5 million); and under runs in the design -builder ($4.7 million), toll services contractor ($2.2 million), Caltrans extended oversight ($1.0 million), the PCM ($1.7 million), and Commission salaries and benefits ($0.8 million). 325 FY 2019/20 3RD QUARTER BUDGET Project Description EXPENDITURES THROUGH 3RD QUARTER Project Status 15/91 Express Lanes Connector (P003039) The 15/91 Express Lane Connector (ELC) project constructs an express lanes median direct connector from southbound 1-15 to westbound SR-91 and from eastbound SR-91 to northbound 1-15 in the city of Corona. The project also adds tolled express lanes in each direction of 1-15 from the 15/91 ELC to Hidden Valley Parkway; adds a tolled express lane in each direction of SR-91 from east of Lincoln Avenue to the 15/91 ELC; extends the tolled express lane along eastbound SR-91 from 1-15 to west of Promenade Avenue; and extends an eastbound auxiliary lane along SR-91 from west of 1-15 to west of Promenade Avenue. The project also includes the addition of a toll collection system infrastructure along 1-15 and SR-91. The estimated project cost is $270 million and the project is partially funded by state funds allocated under Senate Bill (SB) 132 legislation. The connector is expected to open to traffic in 2022. The FY 2019/20 budget amount is $46, 848, 200. 1-15 Express Lanes Southern Extension (P003044) The project will add express lanes between SR-74 and Cajalco Road. The estimated project cost is $544 million with the Project Approval and Environmental Document (PA/ED) phase of work funded by federal Congestion Mitigation and Air Quality (CMAQ) funds and Measure A. The FY 2019/20 budget amount is $7,522,400. Mid County Parkway (MCP) (P002302, P612302, P002320, & P002317) The environmental document fora new corridor from 1-215 to SR-79 was approved in April 2015. The first design package is anticipated to be completed in FY 2018/2019. Construction of this new facility will be completed over many years as funding becomes available; the total project cost is estimated at $1.3 to $1.6 billion. The FY 2019/20 budget amount is $44, 866,100. 18,219,000 5,641,800 21,370,000 9,292,872 2,004,919 10,348,245 The under run of the FY 2019/20 budget at the third quarter is due to under runs in the design and widening of the Hidden Valley Parkway ($7.0 million), the PCM contract ($2.0 million), and special legal services and financial advisor ($0.7 million combined). The under run of the FY 2019/20 budget at the third quarter is due to the project approval/environmental documentation contract ($2.8 million) and a traffic and revenue study that has not occurred ($0.6 million). The under run of the FY 2019/20 budget at the third quarter is primarily due to the following for each project: • MCP: Lower than expected costs for preliminary engineering and permit fee that did not occur ($0.2 million) and lower than expected costs for right of way (ROW) acquisition and support ($3.5 million). • MCP Placentia: Construction and ROW acquisition support/utility relocation will not start until the latter part of the fourth quarter ($5.3 million). • MCP Mitigation: Actual construction and construction support costs lower than projected ($2.0 million). 326 FY 2019/20 3RD QUARTER BUDGET Project Description EXPENDITURES THROUGH 3RD QUARTER Project Status Pachappa Underpass project (P003038) The project will remove the Pachappa shoofly structure and associated retaining walls and construct a retaining wall, drainage, and track bed for the permanent Pachappa underpass. Track relocation will be performed by Union Pacific Railroad. The project construction cost is estimated at $16 million. The FY 2019/20 budget amount is $16,745,000. SR-60 Truck Lanes (P003029) The project will construct eastbound climbing and westbound descending truck lanes from Gilman Springs Road to west of Jack Rabbit trail and upgrade existing shoulders to standard widths. The estimated project cost is $138 million and the project is funded by CMAQ, State Transportation Improvement Program/Regional Improvement Program, State Highway Operation and Protection Program, and 2009 Measure A highway funds. The FY 2019/20 budget amount is $69,680,300. 71/91 Connector Project (P003021) The project includes ROW acquisition, utility relocation, and environmental revalidation work for improvements to the 71/91 connector. The estimated project cost is $118 million. The FY 2019/20 budget amount is $7,494,200. Riverside Layover Facility (P653822) The project includes increased capacity and maintenance service improvements to Metrolink's West Layover Facility, north of the Riverside Downtown station. The improvements include expansion of the facility to accommodate three storage tracks with an overall storage capacity of three 6-train sets. The estimated project cost is $5.3 million. The project is funded by Federal Transit Administration Section 5307. The FY 2019/20 budget amount is $6, 624,100. 4,828,900 41,024,600 6,531,800 3,675,100 291,162 The under run of the FY 2019/20 budget at the third quarter is due to construction starting at the end of the third quarter. Specific under runs are in construction ($2.1 million), UPPR work ($1.5 million), and construction management ($0.7 million). 28,291,250 5,116,744 The under run of the FY 2019/20 budget at the third quarter is due to construction not occurring as planned this period due to weather delays. The largest under runs are in construction ($12.5 million) and construction management ($1.2 million). The under run of the FY 2019/20 budget at the third quarter is due to a combination of lower activity and delayed billing from the final design contractor ($0.5 million), lower actual utility relocation costs, and ROW acquisitions that did not occur ($0.9 million). 191,739 The under run of the FY 2019/20 budget at the third quarter is due to the long lead time to procure a transfer switch, postponing construction into the fourth quarter ($3.3 million). This list discusses the significant capital projects (i.e., total budgeted costs in excess of $5 million) and related status. Capital project expenditures are generally affected by lags in invoices submitted by contractors and consultants, as well as issues encountered during certain phases of the projects. The capital projects budgets tend to be based on aggressive project schedules. 327 RIVERSIDE COUNTY TRANSPORTATION COMMISSION QUARTERLY BUDGET1O ACTUAL 3RD QUARTER FOR NINE MONTHS END® 3/31/2020 ATTACHMENT 2 FY2019/20 3RDQUAR1ER REMAINING PERCENT BUDGET ACTUAL BALANCE U1IUZATION Revenues Salestax $ 300,050,600 $ 191,616,612 $ (108,433,988) 64% Federal reimbursements 89,718,700 10,781,469 (78,937,231) 12% State reimbursements 160,896,100 36,108,546 (124,787,554) 22% Local reimbursements 9,957,900 1,452,878 (8,505,022) 15% Transportation Uniform Mitigation Fee 16,240,000 12,668,454 (3,571,546) 78% Toll revenues 61,920,800 44,279,309 (17,641,491) 72% Toll violations and fee revenues 5,280,300 6,741,594 1,461,294 128% Other revenues 553,000 477,275 (75,725) 86% Investment income 9,500,000 12,260,261 2,760,261 129% Total revenues 654,117,400 316,386,398 (337,731,002) 48% Expenditures/Expenses Salariesand benefits 19,902,500 14,961,448 4,941,052 75% Professional and support Professional services 28,278,600 6,851,858 21,426,742 24% Support costs 14,372,800 7,159,019 7,213,781 50% Total Professional and support costs 42,651,400 14,010,877 28,640,523 33% Projectsand operations Program operations 33,910,600 16,082,210 17,828,390 47% Engineering 26,258,800 3,771,655 22,487,145 14% Construction 154,241,300 47,864,671 106,376,629 31% Design Build 158,001,500 92,066,246 65,935,254 58% Right of way/land 92,003,500 20,391,837 71,611,663 22% Operating and capital disbursements 214,033,400 114,285,641 99,747,759 53% Special studies 1,236,800 272,536 964,264 22% Local streetsand roads 54,383,000 35,594,151 18,788,849 65% Regional arterials 30,967,000 8,199,594 22,767,406 26% Total projectsand operations 765,035,900 338,528,541 426,507,359 44% Debt service Principal 511,816,600 - 511,816,600 N/A Interest 49,412,400 42,785,744 6,626,656 87% Cost of issuance 2,720,000 - 2,720,000 N/A Payment to escrow agent 142,975,000 142,975,000 N/A Total debt service 706,924,000 42,785,744 664,138,256 6% Capital outlay Depreciation Losson sale of land Total Expenditures/Expenses 6,559,300 1,541,073,100 Excessrevenuesover(under) expenditures expenses (886,955,700) 3,403,730 3,155,570 52% 8,087,958 (8,087,958) N/A 4,102,996 (4,102,996) N/A 425,881,294 1,115,191,806 28% (109,494,896) 1,140,398,951 12% Otherfinancing sources/(uses) Transfer in 171,188,000 110,229,476 (60,958,524) 64% Transfer out (171,188,000) (110,229,476) 60,958,524 64% Debt proceeds 625,425,000 - (625,425,000) N/A 11F1A loan proceeds 75,703,000 79,176,050 3,473,050 105% Bond premium 39,967,400 - (39,967,400) N/A Total financing sources/ (uses) 741,095,400 79,176,050 661,919,350 11% Net change in fund balances (145,860,300) (30,318,846) 1,802,318,301 21% Fund balance July 1, 2019 792,310,100 515,617,773 (276,692,327) 65% Fund balance March 31, 2020 $ 646,449,800 $ 485,298,927 $ 1,525,625,974 75% 328 Revenues Salestax Federal reimbursements Rate reimbursements Local reimbursements Transportation Uniform Mitigation Fee Toll revenues Toll violationsand fee revenues Other revenues Investment income Total revenues Expenditures/Expenses Saladesand benefits Professional and support Professional services Ripport costs Total Professional and ipport costs Projects and operations Program operations Engineering Construction Design Build Right of way/land Operating and capital disbursements $ecial studies Local streets and roads Regional arterials Total projectsand operations 22,940,422 2,391,035 168,580,175 GENETALFUND RI V92RDECOUNTYTRANSPORFATION COMMISSION QUARTERLY BUDGEFTO ACTUAL BY FUND 3RD QUARTER FOR NINE MONTHSENDED 3/31/2020 SPECIAL REVENUE FUNDS MEASUREA SALES TAX TRANSPORTATION DEVEDPMENTACT FSP/ COACHEI.A PALO VB6)E LDCALTRANSPORTAIION SIA1E1RANSIT TRANSPORTATION UNIFORM COACHELLA O1HERAGENCY �� WESTERN COUNT' VALLEY VALLEY R1ND ASSISTANCE STAIEOF GOOD REPAIR MITIGATION FEE(1UMF) VALLEY RAIL PROJECTS 5B132 $ - $ - $ 92,008,031 $ 25,262,587 $ 512,004 $ 915,860 8,175,627 244,132 2,312,056 11,494,069 - - 516 141,343 650,918 - - 2,144 173,667 86,937 1,336,319 2,540,336 451,027 2,548,048 694,528 115,327,720 25,957,115 512,004 8,130,546 239,676 5,254,507 53,521 33 3,006,715 212,987 1,658,263 5,811 1,863,496 230,746 2,463,321 78 60,291,715 $ 672,982 60,964,697 10,997,665 $ 2,544,610 $ 498 1,300,201 71,127 12,298,364 2,615,737 286,898 22,058,289 (1,892) - 662,395 - 12,668,454 - - - 24,104 1,347,142 33,444 1,852 3,771 14,037,808 320,342 664,247 22,062,060 451,289 14,660 88,008 152,156 11,601 - 65,973 605,930 6,729 813,955 966 - 124 158 4,870,211 443,733 4,121,584 5,889 17,698 2,391,035 7,566,030 - - 3,978,544 32,788,443 - - 84,514,649 8,936,231 22,651,691 - 4,386,233 271,033 1,503 - - 26,408,542 5,029,772 8,688,705 496,904 8,199,594 - 72,287,307 11,601 - 66,939 605,930 6,853 814,113 9,178,761 751,877 216,087 1,441 154,586 28,229 670,431 190,203 432,521 (1,500,044) 45,406 - - 15,030,822 - - 7,551,597 10,357,517 516 1,097,573 Debt service Principal Interest Total debt service Capital outlay Depreciation Losson sale of land Total Expenditures/Expenses Excess revenuesover (under) expenditurestexpenses Other financing sources/(uses) Transfer in Transferout 71RA loan proceeds Total financing sources/(uses) Net change in fund balances Fund balance July 1, 2019 Fund balance March 31, 2020 21,918,071 496,904 72,287,307 9,178,761 751,877 11,289,441 191,644 587,623 22,208,177 212,856 2,834,323 36,154,035 3,074,444 180,790,589 21,977,481 496,937 72,287,307 (34,817,716) (534,108) (65,462,869) 3,979,634 15,067 (11,322,610) 26,322,441 2,400,000 28,616,132 (1,163,342) (2,634,000) (62,519,389) (564,900) (22,500) (18,332,641) - - 79,176,050 - - - 9,190,362 751,877 3,108,002 1,863,860 (636,200) (27,900) 11,807,669 812,234 682,484 23,174,446 2,230,139 (491,892) (18,237) (1,112,386) 18,002 450,000 19,442 160,511 (797,900) (46,500) 25,159,099 (234,000) 45,272,793 (564,900) (22,500) (18,332,641) (636,200) (27,900) (779,898) 403,500 19,442 160,511 (9,658,617) (768,108) (20,190,076) 3,414,734 (7,433) (29,655,251) 2,471,802 1,835,960 1,450,241 (88,392) 1,205 (951,875) 29,124,269 10,501,511 253,925,602 56,410,474 562 91,541,353 107,469,411 6,680,556 109,653,332 3,071,729 17,017 (1,272,356) $ 19,465,652 $ 9,733,403 $ 233,735,526 $ 59,825,208 $ (6,871) $ 61,886,102 $ 109,941,213 $ 8,516,516 $ 111,103,573 $ 2,983,337 $ 18,222 $ (2,224,231) Revenues Salestax Federal reimbursements Sate reimbursements Local reimbursements Transportation Uniform Mitigation Fee Toll revenues Toll violationsand fee revenues Other revenues Investment income Total revenues RIVERSIDE COUNTY TRANSPORTATION COMMISSION QUARTERLY BUDG ETTO ACTUAL BY FUND 3RD QUARTER FOR NINE MONTHS ENDED 3/ 31 / 2020 EN1ERPfd3E FUND CAPITAL PROJECTS FUNDS TOLLOPERA11ONS COMMERCIALPAPER SALES TAX BONDS DEBTSERVICE COMBIN®TOTAL - $ - $ - $ - $ 191,616,612 - - - 1,403,084 10,781,469 36,108,546 (900) - - - 1,452,878 - - - - 12,668,454 44,279,309 44,279,309 6,741,594 - - - 6,741,594 477,275 2,761,168 893,162 1,446,150 226,082 12,260,261 53,781,171 893,162 1,446,150 1,629,166 316,386,398 Expend itures/Expenses Salaries and benefits 577,052 - - - 14,961,448 Professional and support Professional services 463,894 - - - 6,851,858 3ipport costs 2,600,130 7,159,019 Total Professional and ipport costs 3,064,024 - - - 14,010,877 Projects and operations Program operations 5,707,104 16,082,210 Engineering - - - - 3,771,655 Construction 47,864,671 Design Build - - - - 92,066,246 Right of way/land 20,391,837 Operating and capital disbursements - - - - 114,285,641 $ecial studies 272,536 Local streets and roads - - - - 35,594,151 Regional arterials 8,199,594 Total projectsand operations 5,707,104 - - - 338,528,541 Debt service Principal - - - - IntereS 21,579,500 - 60,000 21,146,244 42,785,744 Total debt service 21,579,500 60,000 21,146,244 42,785,744 Capital outlay Depreciation Losson sale of land Total Expenditures/Expenses 356,551 8,087,958 4,102,996 3,403,730 8,087,958 4,102,996 43,475,185 60,000 21,146,244 425,881,294 Excess revenuesover (under) 10,305,986 893,162 1,386,150 (19,517,078) (109,494,896) expenditurestexpenses Otherfinancing sources/(uses) Transfer in Transferout 11RA loan proceeds Total financing sources/(uses) (1,873,675) - - 52,242,948 110,229,476 (3,538,582) (16,668,863) (1,403,084) (110,229,476) - - - 79,176,050 (1,873,675) (3,538,582) (16,668,863) 50,839,864 79,176,050 Net change in fund balances 8,432,311 (2,645,420) (15,282,713) 31,322,786 (30,318,846) Fund balance July 1, 2019 (274,596,300) 23,091,659 88,561,805 11,437,149 515,617,773 Fund balance March 31, 2020 $ (266,163,989) $ 20,446,239 $ 73,279,092 $ 42,759,935 $ 485,298,927 330 AGENDA ITEM 7E RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: June 10, 2020 TO: Riverside County Transportation Commission FROM: Jose Mendoza, Senior Procurement Analyst Matt Wallace, Procurement Manager THROUGH: Anne Mayer, Executive Director SUBJECT: Recurring Contracts for Fiscal Year 2020/21 STAFF RECOMMENDATION: This item is for the Commission to: 1) Approve the single -year recurring contracts in an amount not to exceed $18,181,500 for Fiscal Year 2020/21; 2) Approve the recurring contracts for specialized services in an amount not to exceed $110,830 in FY 2020/21 and $456,170 in FYs 2021/22 — 2024/25; and 3) Authorize the Chair or Executive Director, pursuant to legal counsel review, to execute the agreements on behalf of the Commission. BACKGROUND INFORMATION: As in previous years, the Commission annually evaluates existing contracts for professional services due to expire within the next fiscal year. These contracts may be placed on the calendar for a new procurement solicitation, allowed to expire since these contracts are no longer required, or included in the annual recurring contracts list that is subject to Commission approval. Most contracts for professional services are subject to a competitive process. This year's list of recurring contracts includes consultants that are providing unique or specialized services and working closely with staff on long-term projects. Staff desires to retain certain consultants on the recurring contracts list due to the consultant's historical knowledge, unique experience, and understanding of the Commission and specific Commission projects. Under limited circumstances in accordance with the Procurement Policies Manual adopted September 2019, staff believes it is more efficient and cost effective to retain the consultants on the recurring contracts list rather than rebidding the services at this time. Approval of the recurring contracts list will allow the Commission to continue work on existing projects without interruptions and maintain consi