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12 December 14, 2022 Commission
RIVERSIDE COUNTY TRANSPORTATION COMMISSION MEETING AGENDA TIME/DATE: 9:30 a.m. / Wednesday, December 14, 2022 LOCATION: BOARD ROOM County of Riverside Administrative Center 4080 Lemon Street, First Floor, Riverside This meeting is being conducted in -person as well as virtually in accordance with AB 361 due to state or local officials recommending measures to promote social distancing. COMMISSIONERS Chair — V. Manuel Perez Vice Chair — Bob Magee Second Vice Chair — Lloyd White 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 To Be Appointed / Alberto Sanchez, City of Banning Lloyd White / David Fenn, City of Beaumont Joseph DeConinck / Johnny Rodriguez, City of Blythe Linda Molina / Wendy Hewitt, City of Calimesa Jeremy Smith / To Be Appointed, City of Canyon Lake Raymond Gregory / Mark Carnevale, City of Cathedral City Steven Hernandez / Denise Delgado, 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 / Malcolm Lilienthal, City of Hemet Dana Reed / Donna Griffith, City of Indian Wells Waymond Fermon / Oscar Ortiz, City of Indio Brian Berkson / Guillermo Silva, 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 To Be Appointed / Edward Delgado, City of Moreno Valley Lisa DeForest / Cindy Warren, City of Murrieta Ted Hoffman / Katherine Aleman, 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 Chuck Conder / Patricia Lock Dawson, City of Riverside Michael Heath / Alonso Ledezma, City of San Jacinto Maryann Edwards / Zak Schwank, City of Temecula Ben J. Benoit / Joseph Morabito, City of Wildomar To Be Appointed, 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 9:30 a.m. Wednesday, December 14, 2022 Board Room County of Riverside Administrative Center 4080 Lemon Street, First Floor, Riverside, CA This meeting is being conducted in -person as well as virtually in accordance with AB 361 due to state or local officials recommending measures to promote social distancing. Join Zoom Meeting https://us02web.zoom.us/j/82008240042?pwd=OFJmcIFTYlB1QmMrM m40ZzVJaWxIQT09 Meeting ID: 820 0824 0042 Passcode: 20220413 One tap mobile +16694449171„82008240042#,,,,*20220413# US +16699006833„82008240042#,,,,*20220413# US (San Jose) Dial by your location +1 669 444 9171 US 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. PLEDGE OF ALLEGIANCE Riverside County Transportation Commission Meeting Agenda December 14, 2022 Page 2 4. PUBLIC COMMENTS — Each individual speaker is limited to speak three (3) continuous minutes or less. The Commission may, either at the direction of the Chair or by majority vote of the Commission, waive this three -minute time limitation. Depending on the number of items on the Agenda and the number of speakers, the Chair may, at his/her discretion, reduce the time of each speaker to two (2) continuous minutes. In addition, the maximum time for public comment for any individual item or topic is thirty (30) minutes. Also, the Commission may terminate public comments if such comments become repetitious. Speakers may not yield their time to others without the consent of the Chair. Any written documents to be distributed or presented to the Commission shall be submitted to the Clerk of the Board. This policy applies to Public Comments and comments on Agenda Items. 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. 5. 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. 6. 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. 6A. AB 361 DETERMINATION Overview This item is for the Commission to: Page 1 1) Reaffirm the findings in Resolution No. 22-007, "A Resolution of the Board of Commissioners of the Riverside County Transportation Commission Authorizing Virtual Board and Committee Meetings Pursuant to AB 361." The findings are as follows: a. The Governor proclaimed a State of Emergency on March 4, 2020, related to the COVID-19 pandemic, which continues to exist today; and b. State or local officials have recommended measures to promote social distancing. 6B. APPROVAL OF MINUTES — NOVEMBER 9, 2022 Page 6 Riverside County Transportation Commission Meeting Agenda December 14, 2022 Page 3 6C. PROPOSED 2023 COMMISSION/COMMITTEE MEETING SCHEDULE Overview This item is for the Commission to: 1) Adopt its 2023 Commission/Committee Meeting Schedule. 6D. PROPOSED ADMINISTRATIVE CODE CHANGES Overview This item is for the Commission to: 1) Adopt Ordinance No. 22-001, "An Ordinance Amending the Riverside County Transportation Commission Administrative Code". 6E. FISCAL YEAR 2021/22 COMMISSION AUDIT RESULTS Overview This item is for the Commission to: Page 14 Page 17 Page 108 1) Receive and file the Fiscal Year 2021/22: a) Annual Comprehensive Financial Report (ACFR); b) Local Transportation Fund (LTF) Financial and Compliance Report; c) State Transit Assistance (STA) Fund Financial and Compliance Report; d) State of Good Repair (SGR) Fund Financial and Compliance Report; e) Proposition 1B Rehabilitation and Security Project (Proposition 1B) Accounts Financial and Compliance Reports; f) Low Carbon Transit Operations Program (LCTOP) Account Financial and Compliance Reports; g) Single Audit Report; h) RCTC 91 Express Lanes Fund Financial Report; i) 15 Express Lanes Fund Financial Report; j) Auditor Required Communications Report; k) Agreed -Upon Procedures Report related to the Appropriations Limit Calculation; I) Agreed -Upon Procedures Report related to the Commuter Assistance Program (CAP) incentives; and m) Management certifications. Riverside County Transportation Commission Meeting Agenda December 14, 2022 Page 4 6F. QUARTERLY FINANCIAL STATEMENTS Overview This item is for the Commission to: 1) Receive and file the Quarterly Financial Statements for the three months ended September 30, 2022. 6G. QUARTERLY INVESTMENT REPORT Overview This item is for the Commission to: 1) Receive and file the Quarterly Investment Report for the quarter ended September 30, 2022. 6H. FEDERAL TRANSIT ADMINISTRATION TRIENNIAL REVIEW FISCAL YEAR 2022 RESULTS Page 375 Page 112 Page 121 Overview This item is for the Commission to: 1) Receive and file a report on the Fiscal Year 2022 Triennial Review of the Commission performed by the Federal Transit Administration (FTA). 61. FISCAL YEARS 2019-2021 TRANSPORTATION DEVELOPMENT ACT TRIENNIAL PERFORMANCE AUDIT RESULTS FOR THE COMMISSION AND RIVERSIDE COUNTY TRANSIT OPERATORS Page 415 Overview This item is for the Commission to: 1) Receive and file the Fiscal Years 2018/2019 through FY 2020/2021 Transportation Development Act (TDA) triennial performance audit results for the Commission; and 2) Receive and file the FYs 2018/2019 through FY 2020/2021 TDA triennial performance audit results for the cities of Banning, Beaumont, Corona, and Riverside; Palo Verde Valley Transit Agency (PVVTA); Riverside Transit Agency (RTA); and SunLine Transit Agency (SunLine). Riverside County Transportation Commission Meeting Agenda December 14, 2022 Page 5 6J. QUARTERLY PUBLIC ENGAGEMENT METRICS REPORT, JULY -SEPTEMBER 2022 Page 419 Overview This item is for the Commission to: 1) Receive and file the Quarterly Public Engagement Metrics Report for July -September 2022. 6K. AMEND THE INTERSTATE 15 EXPRESS LANES PROJECT TOLL SERVICES CONTRACT WITH KAPSCH TRAFFICCOM USA INC. TO EXTEND THE TERM OF THE CONTRACT Page 426 Overview This item is for the Commission to: 1) Approve Agreement No. 16-31-043-03, Amendment No. 03 to Agreement No. 16-31-043-00, with Kapsch TrafficCom USA Inc. (Kapsch) for the Toll Services Contract for 15 Express Lanes Project to extend the contract term by five years, in the amount of $42,219,382, plus a contingency amount of $4,222,000, for a total amount not to exceed $46,441,382; 2) Authorize the payment of passthrough items in an amount not to exceed $3 million; and 3) Authorize the Chair or Executive Director, pursuant to legal counsel review, to execute the Amendment on behalf of the Commission. 6L. AGREEMENTS FOR ON -CALL ENVIRONMENTAL CONSULTING SERVICES Overview This item is for the Commission to: Page 434 1) Award the following agreements to provide on -call environmental consulting services for a three-year term, and one, two-year option to extend the agreements, in an amount not to exceed an aggregate value of $3,000,000; a) Agreement No. 22-31-092-00 to GPA Consulting; b) Agreement No. 22-31-103-00 to HNTB Corporation; c) Agreement No. 22-31-104-00 to ICF Jones & Stokes, Inc.; and d) Agreement No. 22-31-105-00 to Stantec Consulting Services, Inc.; 2) Authorize the Chair or Executive Director, pursuant to legal counsel review, to execute the agreements, including option years, on behalf of the Commission; and 3) Authorize the Executive Director, or designee, to execute task orders awarded to the consultants under the terms of the agreements. Riverside County Transportation Commission Meeting Agenda December 14, 2022 Page 6 6M. QUARTERLY REPORTING OF CONTRACT CHANGE ORDERS FOR CONSTRUCTION CONTRACTS Overview This item is for the Commission to: 1) Receive and file the Quarterly Report of Contract Change Orders for Construction Contracts for the three months ended September 30, 2022. 7. ANNUAL INVESTMENT POLICY Overview This item is for the Commission to: Page 673 Page 675 1) Approve the revised annual Investment Policy; and 2) Adopt Resolution No. 22-020, "Resolution of the Riverside County Transportation Commission Regarding the Revised Investment Policy". 8. 2023 STATE AND FEDERAL LEGISLATIVE PLATFORM AND LEGISLATIVE UPDATE Overview This item is for the Commission to: 1) Adopt the Commission's 2023 State and Federal Legislative Platform; and 2) Receive and file a state and federal legislative update. 9. ELECTION OF RIVERSIDE COUNTY TRANSPORTATION COMMISSION OFFICERS Overview Page 701 Page 720 This item is for the Commission to conduct an election of officers for 2023 — Chair, Vice Chair, and Second Vice Chair. 10. APPOINTMENT OF EXECUTIVE COMMITTEE MEMBERS Overview This item is for the Commission to: 1) The cities of Corona, Jurupa Valley, Menifee, Moreno Valley, Murrieta, Riverside, and Temecula to appoint two representatives to the Executive Committee; Page 724 Riverside County Transportation Commission Meeting Agenda December 14, 2022 Page 7 2) The cities of Banning, Beaumont, Calimesa, Canyon Lake, Eastvale, Hemet, Lake Elsinore, Norco, Perris, San Jacinto, and Wildomar to appoint one representative to the Executive Committee; and 3) The cities of Blythe, Cathedral City, Coachella, Desert Hot Springs, Indian Wells, Indio, La Quinta, Palm Desert, Palm Springs, and Rancho Mirage to appoint one representative to the Executive Committee. 11. ITEM(S) PULLED FROM CONSENT CALENDAR AGENDA 12. EXECUTIVE DIRECTOR REPORT 13. COMMISSIONER COMMENTS Overview This item provides the opportunity for brief announcements or comments on items or matters of general interest. 14. CLOSED SESSION 14A. CONFERENCE WITH REAL PROPERTY NEGOTIATORS Pursuant to Government Code Section 54956.8 Agency Negotiator: Executive Director or Designee Item Property Description Property Owner Buyer(s) 1 279-530-030 279-240-020 279-240-008 RCTC Mad Atom, LLC Shea Properties Crystal Windows & Doors 15. ADJOURNMENT The next Commission meeting is scheduled to be held at 9:30 a.m. on Wednesday, January 11, 2023. AGENDA ITEM 6A RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: December 14, 2022 TO: Riverside County Transportation Commission FROM: Lisa Mobley, Administrative Services Director/Clerk of the Board THROUGH: Anne Mayer, Executive Director SUBJECT: AB 361 Determination STAFF RECOMMENDATION: This item is for the Commission to: 1) Reaffirm the findings in Resolution No. 22-007, "A Resolution of the Board of Commissioners of the Riverside County Transportation Commission Authorizing Virtual Board and Committee Meetings Pursuant to AB 361." The findings are as follows: a. The Governor proclaimed a State of Emergency on March 4, 2020, related to the COVID-19 pandemic, which continues to exist today; and b. State or local officials have recommended measures to promote social distancing. BACKGROUND INFORMATION: Since the onset of the COVID-19 in early 2020, California government agencies have been able to continue to discharge their legal responsibilities through the use of virtual teleconferencing platforms such as Zoom to hold public meetings that enabled agencies to meet and conduct business, comply with social distancing orders and most importantly, provide access to the public. In many cases, virtual meetings have actually enhanced public participation, particularly in larger counties including Riverside County where traveling to a public meeting can be inconvenient or require traveling a long distance. Both the RCA and RCTC have been meeting on Zoom since March of 2020, when many Executive Orders were issued by Governor Newsom in response to the pandemic. One such order altered Brown Act requirements to allow for virtual meetings. Although transmission, hospitalization and death rates from COVID-19 have sharply declined since the original onset of the pandemic and subsequent Delta Variant surge, an air or uncertainty remains regarding the pandemic and many counties continue to recommend masking inside and social distancing. Given that environment and a desire to continue allowing for the flexibility of holding virtual meetings, the Legislature recently approved, and Governor Newsom signed, Assembly Bill 361 to temporarily allow for virtual meeting under proscribed circumstances. Agenda Item 6A 1 AB 361 Effective immediately, AB 361 amends the Brown Act to allow local legislative bodies to continue using teleconferencing and virtual meeting technology in certain circumstances. Under the Bill, legislative bodies can continue to meet remotely as long as there is a "proclaimed state of emergency" and the Commission can make either of the following findings: (a) state or local officials have imposed or recommended measures to promote social distancing or (b) whether as a result of the emergency, meeting in person would present imminent risks to the health or safety of attendees. The Governor proclaimed a State of Emergency on March 4, 2020 related to the COVID-19 pandemic, which State of Emergency continues to exist to this day. Further, both State and Riverside County officials continue to recommend the social distancing. AB 361 requires specific procedural safeguards for the public. To accommodate individuals during these teleconferences and virtual meetings, a public comment period will be offered where the public can address the legislative body directly in real time. Additionally, public comments will be allowed up until the public comment period is closed at the meetings. The agenda will include information on the manner in which the public may access the meeting and provide comments remotely. If technical problems arise that result in the public's access being disrupted, the legislative body will not take any vote or other official action until the technical disruption is corrected and public access is restored. The attached Resolution allows the Board to implement AB 361 by making the findings discussed above. This findings will be in effect for 30 days or until the Board makes findings that the conditions listed therein long longer exist, whichever is shorter. The findings can be extended by the Board upon a finding that conditions supporting the findings included in the Resolution still exist. The authorization to meet remotely will apply to any Committees that meet during the 30 - day effective period. AB 361 will allow for virtual meetings during other state -proclaim emergencies, such as earthquakes or wildfires, where physical attendance may present a risk. AB 361 is scheduled to sunset January 1, 2024. STAFF RECOMMENDATION: Reafirm the findings in Resolution No. 22-007, "A Resolution of the Board of Commissioners of the Riverside County Transportation Commission Authorizing Virtual Board and Committee Meetings Pursuant to AB 361". Attachment: Resolution No. 22-007 Agenda Item 6A 2 RESOLUTION NO. 22-007 A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE RIVERSIDE COUNTY TRANSPORTATION COMMISSION AUTHORIZING VIRTUAL BOARD AND COMMITTEE MEETINGS PURSUANT TO AB 361 WHEREAS, the Riverside County Transportation Commission ("Commission") is committed to preserving and nurturing public access and participation in meetings of the Board of Commissioners, Executive Committee, Budget and Implementation Committee, Western Riverside County Programs and Projects Committee, Toll Policy and Operations Committee, Citizens and Specialized Transit Advisory Committee, and Technical Advisory Committee; and WHEREAS, all meetings of the Commission's legislative bodies, including its Board of Commissioners, Executive Committee, Budget and Implementation Committee, Western Riverside County Programs and Projects Committee, Toll Policy and Operations Committee, Citizens and Specialized Transit Advisory Committee, and Technical Advisory Committee are open and public, as required by the Ralph M. Brown Act (Cal. Gov. Code 54950 — 54963), so that any member of the public may attend and participate in the Commission's meetings; and WHEREAS, starting in March 2020, in response to the spread of COVID-19 in the State of California, the Governor issued a number of executive orders aimed at containing the COVID-19 virus; and WHEREAS, among other things, these orders waived certain requirements of the Brown Act to allow legislative bodies to meet virtually; and WHEREAS, pursuant to the Governor's executive orders, the Commission has been holding virtual meetings during the pandemic in the interest of protecting the health and safety of the public, Commission staff and Commissioners; and WHEREAS, the Governor's executive order related to the suspension of certain provisions of the Brown Act expired on September 30, 2021; and WHEREAS, on September 16, 2021 the Governor signed AB 361 (in effect as of October 1, 2021 — Government Code Section 54953(e)), which allows legislative bodies to meet virtually provided there is a state of emergency, and either (1) state or local officials have imposed or recommended measures to promote social distancing; or (2) the legislative body determines by majority vote that meeting in person would present imminent risks to the health and safety of attendees; and WHEREAS, such conditions now exist in the Commission, specifically, a state of emergency has been proclaimed related to COVID-19 and state or local officials are recommending measures to promote social distancing, 3 NOW, THEREFORE, BE IT RESOLVED THAT THE RIVERSIDE COUNTY TRANSPORTATION COMMISSION DOES HEREBY RESOLVE AS FOLLOWS: Section 1. Recitals. The Recitals set forth above are true and correct and are incorporated into this Resolution by this reference. Section 2. Findings. Consistent with the provisions of Government Code Section 54953(e), the Board of Commissioners finds and determines that (1) a state of emergency related to COVID-19 is currently in effect and (2) state or local officials have recommended measures to promote social distancing in connection with COVID-19. Section 3. Remote Teleconference Meetings: Based on the findings and determinations included herein, the Board of Commissioners authorizes and directs any of its legislative bodies, including without limitation its Board of Commissioners, Executive Committee, Budget and Implementation Committee, Western Riverside County Programs and Projects Committee, Toll Policy and Operations Committee, Technical Advisory Committee, and Citizens and Specialized Transit Advisory Committee to conduct remote teleconference meetings under the provisions of Government Code Section 54953(e) and that such bodies shall provide public access to their meetings as provided in Section 54953(e). Section 4. Full and Fair Access: In making the findings included herein the board specifically relies on Section 8(b) of Stats.2021, c.165 (A.B.361), § 3, eff. Sept. 16, 2021.) which provides as follows: (b) The Legislature finds and declares that [the changes made by AB 361 to] Section 54953 of the Government Code, all increase and potentially limit the public's right of access to the meetings of public bodies or the writings of public officials and agencies within the meaning of Section 3 of Article I of the California Constitution. Pursuant to that constitutional provision, the Legislature makes the following findings to demonstrate the interest protected by this limitation and the need for protecting that interest: (1) By removing the requirement that public meetings be conducted at a primary physical location with a quorum of members present, this act protects the health and safety of civil servants and the public and does not preference the experience of members of the public who might be able to attend a meeting in a physical location over members of the public who cannot travel or attend that meeting in a physical location. (2) By removing the requirement for agendas to be placed at the location of each public official participating in a public meeting remotely, including from the member's private home or hotel room, this act protects the personal, private information of public officials and their families while preserving the public's right to access information concerning the conduct of the people's business. 4 Section 5. Effective Date of Resolution. This Resolution shall take effect upon adoption and shall be effective for 30 days unless earlier extended by a majority vote of the Board of Commissioners in accordance with Section 5 of this Resolution. Section 6. Extension by Motion. The Board of Commissioners may extend the application of this Resolution by motion and majority vote by up to 30 days at a time, provided that it makes all necessary findings consistent with and pursuant to the requirements of Section 54953(e)(3). Any such extension may be made before or after the expiration of the preceding 30 day period. PASSED AND ADOPTED by the Board of Commissioners of the Riverside County Transportation Commission this 9th day of March 2022, by the following vote: APPROVED AND ADOPTED this 9th day of March, 2022. _`' V. Manuel Perez, Chair Riverside County Transportation Commission ATTEST: Lisa Mobley, Clerk of the Board Riverside County Transportation Commission 5 AGENDA ITEM 6B MINUTES RIVERSIDE COUNTY TRANSPORTATION COMMISSION MEETING MINUTES Wednesday, November 9, 2022 1. CALL TO ORDER The Riverside County Transportation Commission was called to order by Chair V. Manuel Perez at 9:31 a.m. in the Board Room at the County of Riverside Administrative Center, 4080 Lemon Street, First Floor, Riverside, California, 92501. 2. ROLL CALL Commissioners/Alternates Present Ben J. Benoit Brian Berkson Chuck Conder Joseph DeConinck Edward Delgado Maryann Edwards Kathleen Fitzpatrick Jeff Hewitt Ted Hoffman Kevin Jeffries Linda Krupa Bob Magee Scott Matas Lisa Middleton Linda Molina V. Manuel Perez Dana Reed Jim Rogers Jeremy Smith Karen Spiegel Jim Steiner Michael M. Vargas Chuck Washington Ted Weill Lloyd White Bill Zimmerman Commissioners Absent Lisa DeForest Waymond Fermon Raymond Gregory Jan Harnik Michael Heath Steven Hernandez Clint Lorimore To be Appointed, City of Banning 3. PLEDGE OF ALLEGIANCE Vice Chair Bob Magee led the Commission in a flag salute. 4. PUBLIC COMMENTS Arnold San Miguel, Southern California Association of Governments' (SCAG) Regional Affairs Officer, announced on November 15-17, 2022, CoMotion L.A. will be held at the Japanese American National Museum in Los Angeles, and it is free for public sector staff and the elected officials. It is a great conference on innovation, on mobility, and people from around the world show up for this conference. Registration is open for the December 1 SCAG 13th edition of their celebrated Southern California Economic Summit 6 Riverside County Transportation Commission Meeting Minutes November 9, 2022 Page 2 being held in downtown Los Angeles at the Sheraton Grand. It is free to the elected officials and the city managers. 5. ADDITIONS / REVISIONS There were no additions or revisions to the agenda. 6. PUBLIC HEARING — ADOPTION OF A RESOLUTION OF NECESSITY FOR THE ACQUISITION OF A FEE INTEREST IN CERTAIN REAL PROPERTY, BY EMINENT DOMAIN, MORE PARTICULARLY DESCRIBED AS ASSESSOR PARCEL NUMBER 305-080-088, FOR THE PLACENTIA AVENUE WIDENING PROJECT AND MID COUNTY PARKWAY PROJECT, IN RIVERSIDE COUNTY, CALIFORNIA At this time, Chair Perez called on legal counsel to explain the nature and scope of the hearing. Haviva Shane, Legal Counsel, stated the purpose of this item is for the Board to consider adoption of a resolution of necessity to acquire the properties listed on the agenda. As part of the resolution of necessity the Board will be asked to make the following findings and she listed the findings. The resolution of necessity needs to be adopted by a 2/3 vote of the total membership of the Commission. Lisa Mobley, Administrative Services Director/Clerk of the Board, confirmed that she does have the proof of mailing of the notice of the public hearing. There were no written objections or protests and they have not received any requests to be heard from owners or their representatives. Hector Casillas, Right of Way Manager, presented the resolution of necessity for adoption for a property needed for the Placentia Avenue Widening and the Mid County Parkway (MCP) Project and highlighted the following areas: • Commission guidance ✓ The property interests are required for a public purpose ✓ The offer of just compensation was for the full appraised value ✓ The commission uses eminent domain as a last resort ✓ Staff will continue negotiations • The Commission is requested to make the following findings ✓ The public interest and necessity require the proposed project; ✓ The project is planned or located in a manner that will be the most compatible with the greatest public good and the least private injury; ✓ The real property to be acquired is necessary for the project; and ✓ The offer of just compensation has been made to the property owner. • An ariel view of the parcel location in the project and provided basic information of the Placentia Interchange and the MCP Projects 7 Riverside County Transportation Commission Meeting Minutes November 9, 2022 Page 3 • Parcel information • Offer of just compensation • Contact summary • Ariel of the parcel, pre -demo site and post -demo site photographs of the property, and site relocation photographs of the new property in the city of Perris In response to Commissioner Maryann Edwards' inquiry about why the property owners turned down the offer, Hector Casillas replied they are focused on the business relocation first and after that is complete, they can focus on the acquisition. At this time, Chair Perez opened the public hearing. Chair Perez asked if the owners or the owner representatives are here to speak on the item. There were no requests to speak. Chair Perez asked if the Commissioners had any other questions. At this time, Chair Perez closed the public hearing. Chair Perez asked if there were any public comments. There were no requests to speak. M/S/C (Reed/Vargas) to: 1) Conduct a hearing to consider the adoption of a Resolution of Necessity, including providing all parties interested in the affected property and their attorneys, or their representatives, an opportunity to be heard on the issues relevant to the Resolution of Necessity; 2) Make the following findings as hereinafter described in this report: a) The public interest and necessity require the proposed project; b) The project is planned or located in a manner that will be most compatible with the greatest public good and the least private injury; c) The real property to be acquired is necessary for the project; and d) The offer of just compensation has been made to the property owner; 3) Adopt Resolution of Necessity No. 22-021 described as "Adoption of a Resolution of Necessity for the Acquisition of a Fee Interest Certain Real Property, by Eminent Domain, More Particularly Described as Assessor Parcel Number 305-080-088, Located in Perris, Riverside County, California, for the Placentia Avenue Widening Project and Mid County Parkway Project." 8 Riverside County Transportation Commission Meeting Minutes November 9, 2022 Page 4 7. CONSENT CALENDAR M/S/C (Reed/Edwards) to approve the following Consent Calendar items. 7A. AB 361 DETERMINATION Reaffirm the findings in Resolution No. 22-007, "A Resolution of the Board of Commissioners of the Riverside County Transportation Commission Authorizing Virtual Board and Committee Meetings Pursuant to AB 361." The findings are as follows: a) The Governor proclaimed a State of Emergency on March 4, 2020, related to the COVID-19 pandemic, which continues to exist today; and b) State or local officials have recommended measures to promote social distancing. 7B. APPROVAL OF MINUTES — OCTOBER 12, 2022 7C. SINGLE SIGNATURE AUTHORITY REPORT Receive and file the Single Signature Authority report for the first quarter ended September 30, 2022. 7D. AMENDMENT TO CITY OF BANNING'S FISCAL YEAR 2022/23 SHORT RANGE TRANSIT PLAN 1) Approve a $550,000 increase in the Fiscal Year 2022/23 State Transit Assistance (STA) funding allocation for the city of Banning (City); and 2) Amend the City's FY 2022/23 Short Range Transit Plan (SRTP) to increase the STA allocation in the amount of $550,000 for Project No. 23-01 "Bus Replacement". 7E. CITIZENS AND SPECIALIZED TRANSIT ADVISORY COMMITTEE TRANSIT NEEDS PUBLIC HEARING UPDATE Receive and file an update on the Citizens and Specialized Transit Advisory Committee (CSTAC) Transit Needs Public Hearing. 8. AGREEMENT FOR CONSTRUCTION MANAGEMENT SERVICES, MATERIALS TESTING, AND CONSTRUCTION SURVEYING FOR THE INTERSTATE 15 SMART FREEWAY IMPROVEMENTS PROJECT Erik Galloway, Project Deliver Director, presented the award construction management services agreement for the Interstate 15 SMART Freeway Project, highlighting the following: 9 Riverside County Transportation Commission Meeting Minutes November 9, 2022 Page 5 • Project overview ✓ Project limits o 8 -miles of northbound 1-15, County Line to 15/215 "Split" • Project scope ✓ Coordinated Adaptive Ramp Metering at 3 on -ramps o Temecula Parkway o Rancho California Road o Winchester Road • Project schedule ✓ 95 percent Design currently under review by Caltrans • Construction management agreement • Schedule Anne Mayer, Executive Director, stated as they have discussed before, they are simply not going to build their way-out of congestion in Riverside County. They can look for opportunities to use technology to improve the operations and this test pilot in the city of Temecula on Interstate 15 northbound is a perfect opportunity to do that. She explained they will be able to see if they can use technology, coordinate the ramp meters, in addition to the auxiliary lanes that are being built, to see if they can make a difference in terms of the kind of congestion that is seen on that corridor. She expressed with a successful pilot here it is very possible this could be deployed in multiple areas around the County. It is a much more cost-effective way to reduce congestion and one that takes advantage of technologies that are coming forward. RCTC is one of the first ones in the state doing this and only the second ones in the country, Denver just did a pilot last year, Contra Costa County have another pilot and they will be coming out after RCTC's pilot. She thanked the Commissioners for the authorization to be able to use new technology and see if this can work so it can be deployed elsewhere throughout the County. Commissioner Maryann Edwards thanked RCTC for their patience on this project. She stated that Federal Highway Administration Projects take forever so they are happy to be starting this right now. She had a meeting with Diane Morales, Acting Director, Caltrans District 8, and spoke to her regarding this and Caltrans is excited to hear about the coordination too and even discussed trying to find some pilot funding for it M/S/C (Spiegel/Vargas) to 1) Award Agreement No. 22-31-098-00 to Anser Advisory Management, LLC dba Anser Advisory (Anser) for construction management services, materials testing, and construction surveying for the Interstate 15 SMART Freeway Improvements Project in the amount of $2,072,210, plus a contingency amount of $207,221, for a total amount not to exceed $2,279,431; 10 Riverside County Transportation Commission Meeting Minutes November 9, 2022 Page 6 2) Authorize the Chair or Executive Director, pursuant to legal counsel review, to finalize and execute the agreement, on behalf of the Commission; and 3) Authorize the Executive Director, or designee, to approve contingency work up to the total not to exceed amount as required for these services. 9. STATE AND FEDERAL LEGISLATIVE UPDATE David Knudsen, External Affairs Director, presented an update for the state and federal legislative activities. He stated Vice Chair Bob Magee represented RCTC at a roundtable discussion with Representative Ken Calvert and House Natural Resources Ranking Member Bruce Westerman in Corona on permitting challenges to infrastructure development. Following the successful CV Rail Advocacy trip to Washington, D.C. in September 2022, RCTC requested a meeting with California State Transportation Agency (CaISTA) Secretary Toks Omishakin to outline the Commission's efforts and future vision for passenger rail service to Coachella Valley. The meeting with Secretary Omishakin and CaISTA's Chief Deputy Secretary, Rail and Transit, Chad Edison, Chair Perez, Commissioner Middleton, and staff was held on November 2nd both officials offered strong support for CV rail and RCTC's project vision. He provided an update on the CV Rail grant for $20 million in funding from the Federal Consolidated Rail Infrastructure and Safety Improvements (CRISI) Grants Program to help fund and complete the Tier II Project Level Environmental Studies for the project. He noted that RCTC and Caltrans will submit the CV Rail CRISI Grant application by the December 1 deadline. In response to Commissioner Chuck Conder's inquiry on the bills this body opposed that the Governor vetoed if those bills may come back as there is one AB 2438, David Knudsen replied it is very likely that some element of that bill will come back. There are elements within the Legislature to really examine how transportation projects are funded and what those projects will do to the system. Commissioner Conder replied he is sure that Mr. Knudsen's team is already working on a process of how to re-engage on that. David Knudsen confirmed they are. Commissioner Conder requested Mr. Knudsen keep the Commissioners informed. Anne Mayer stated there is a possibility that some form of AB 2237 by Assembly Member Laura Friedman could attempt a comeback and that was the one that would have controlled how local sales tax measures are spent. Staff will be watching this bill with diligence along with the 25 self-help counties in the state of California and it is a very serious issue considering the billions of dollars a year invested in the transportation network from sales tax measures all approved by voters. She stated that staff will continue to be engaged at various levels to try to tell the story about why keeping commitments to voters is so important. M/S/C to receive and file an update on state and federal legislation. 11 Riverside County Transportation Commission Meeting Minutes November 9, 2022 Page 7 10. ITEM(S) PULLED FROM CONSENT CALENDAR FOR DISCUSSION There were no items pulled from the consent calendar. 11. EXECUTIVE DIRECTOR'S REPORT • Anne Mayer announced this is another weekend of significant work for the 91/15 Interchange Refresh Project, which will have a series of extended ramp closures and lanes reductions starting the evening of November 12 — November 21 at 4:00 a.m. and the 91 general purpose lanes will be open throughout the closure period. Starting on November 12 at 10:00 p.m. crews will close the westbound 91 Main Street on and off ramps, they will be moving k -rail, reconfiguring temporary striping, they will also need to close the northbound and southbound 1-15 to westbound 91 for one night until 8:00 a.m. on Sunday morning. Once those connectors are reopened the northbound to westbound connector will be reduced to one lane. Make sure when traveling in that area to be aware of the different closures. While these closures will impact traffic and RCTC is very appreciative of the patience both people who travel through Corona but also for the residents of Corona. Having sequence closures will help avoid another additional 55 -hour closure although RCTC does have two more full weekend closures that are anticipated in the rest of this year. On November 8, RCTC sent out a News Release, moving forward with outreach activities both in English and in Spanish and working closely with the city of Corona and other partners to ensure these closures and lane reductions occur smoothly. There is detailed information about the closures posted at RCTC.org/91 Refresh/Closures social media is one of the keyways RCTC has been able to get out information and there has been a lot of press coverage on the various news channels related to these closures. RCTC is trying to get the message out especially because there is so much work occurring in Southern California and trying to make sure RCTC has a regionwide approach with all their communications. Commissioner Spiegel stated she was asked on the last closure if RCTC can work with Waze and some of the program apps that direct people. Anne Mayer replied historically RCTC has attempted to work with the traffic apps to redirect traffic and it is not easy to do, especially since many people have a vehicle that tells them which way to go it can be challenging, but they will see what they can do. Those features are so prevalent now whether it is the phone or the car it is very hard to have any influence in that space. 12. COMMISSIONER COMMENTS There were no Commissioner comments. 12 Riverside County Transportation Commission Meeting Minutes November 9, 2022 Page 8 13. CLOSED SESSION 13A. CONFERENCE WITH LEGAL COUNSEL: EXISTING LITIGATION Pursuant to Government Code Section 54956.9 (d)(1) Case No. RIC 1409484 There were no announcements from the Closed Session. 15. ADJOURNMENT There being no further business for consideration by the Riverside County Transportation Commission, Chair Perez adjourned the meeting at 10:13 a.m. The next Commission meeting is scheduled to be held at 9:30 a.m., Wednesday, December 14, 2022. Respectfully submitted, Lisa Mobley Administrative Services Director / Clerk of the Board 13 AGENDA ITEM 6C RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: December 14, 2022 TO: Riverside County Transportation Commission FROM: Lisa Mobley, Administrative Services Director/Clerk of the Board THROUGH: Anne Mayer, Executive Director SUBJECT: Proposed 2023 Commission/Committee Meeting Schedule STAFF RECOMMENDATION: This item is for the Commission to: 1) Adopt its 2023 Commission/Committee Meeting Schedule. BACKGROUND INFORMATION: The Commission is scheduled to meet on the second Wednesday of each month at 9:30 a.m. The Executive Committee is scheduled at 9:00 a.m. on the same day. The Commission's Budget and Implementation and Western Riverside County Programs and Projects Committees meet on the fourth Monday of each month at 9:30 a.m. and 1:30 p.m., respectively, except when the fourth Monday falls on a holiday. Due to the September and December Committee meetings falling on holidays, they are not being scheduled. There are times when a committee meeting may be cancelled due to lack of substantive agenda items. When this occurs, the Commissioners will be notified, and items are forwarded directly to the Commission for final action. Attachment: Proposed 2023 Commission/Committee Meetings Schedule Agenda Item 6C 14 RIVERSIDE RCTC COUNTY 2023 MEETING SCHEDULE TRANSPORTATION COMMISSION Meeting Date (Wednesday) Commission Location Executive Committee Location January 11 9:30 a.m. County Board Room* 9:00 a.m. RCTC March Field Conf. Rm.* February 2 3 1:30 p.m. (Thursday)* 8:30 a.m. (Friday) Renaissance Palm Springs Hotel N/A N/A February 8 9:30 a.m. County Board Room* 9:00 a.m. RCTC March Field Conf. Rm.* March 8 9:30 a.m. County Board Room* 9:00 a.m. RCTC March Field Conf. Rm.* April 12 9:30 a.m. County Board Room* 9:00 a.m. RCTC March Held Conf. Rm.* May 10 9:30 a.m. Coachella Valley* 9:00 a.m. RCTC March Field Conf. Rm.* June 14 9:30 a.m. County Board Room* 9:00 a.m. RCTC March Field Conf. Rm.* July 12 9:30 a.m. County Board Room* 9:00 a.m. RCTC March Field Conf. Rm.* August 9 9:30 a.m. County Board Room* 9:00 a.m. RCTC March Field Conf. Rm.* September 13 9:30 a.m. County Board Room* 9:00 a.m. RCTC March Field Conf. Rm.* October 11 9:30 a.m. County Board Room* 9:00 a.m. RCTC March Field Conf. Rm.* November 8 9:30 a.m. County Board Room* 9:00 a.m. RCTC March Field Conf. Rm.* December 13 9:30 a.m. County Board Room* 9:00 a.m. RCTC March Field Conf. Rm.* The Commission and the Executive Committee meetings are held on the second Wednesday of each month. *Locations and times are tentative, subject to change. 2023 RCTC Meeting Schedule — V1 15 Meeting Date (Monday) Budget and Implementation Committee Western Riverside County Programs and Projects Committee Location January 23 9:30 a.m. 1:30 p.m. County Board Room* February 27 9:30 a.m. 1:30 p.m. County Board Room* March 27 9:30 a.m. 1:30 p.m. County Board Room* April 24 9:30 a.m. 1:30 p.m. County Board Room* May 22 9:30 a.m. 1:30 p.m. County Board Room* June 26 9:30 a.m. 1:30 p.m. County Board Room* July 24 9:30 a.m. 1:30 p.m. County Board Room* August 28 9:30 a.m. 1:30 p.m. County Board Room* October 23 9:30 a.m. 1:30 p.m. County Board Room* November 27 9:30 a.m. 1:30 p.m. County Board Room* The meetings of the Budget and Implementation Committee and the Western Riverside County Programs and Projects Committee are held on the fourth Monday of each month, except on holidays. 2023 RCTC Meeting Schedule — V1 16 AGENDA ITEM 60 RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: December 14, 2022 TO: Riverside County Transportation Commission FROM: Executive Committee Aaron Hake, Deputy Executive Director THROUGH: Anne Mayer, Executive Director SUBJECT: Proposed Administrative Code Changes EXECUTIVE COMMITTEE AND STAFF RECOMMENDATION: This item is for the Commission to: 1) Adopt Ordinance No. 22-001, "An Ordinance Amending the Riverside County Transportation Commission Administrative Code". BACKGROUND Since adopted in 1993, the administrative code has been regularly updated and amended to reflect changes in policy, amend outdated language and to ensure the organization is structured in a way to address the County's ongoing transportation needs. This item puts forward a number of suggested changes to the Administrative Code that will ensure consistency between current Commission practice and the code. Executive Committee Membership The Executive Committee was established in 1999 as a result of the reorganization of the Commission. The responsibility of the Executive Committee is to oversee staff functions; recommend staff positions, job descriptions and salaries; appoint, contract with and determine the compensation of the Executive Director; discipline, review and terminate the Commission's Executive Director; and oversee administration of the Commission's office. Overall, there are 11 seats on the Executive Committee. The seats are held by the Chair, Vice Chair, Second Vice Chair, Past Chair, a representative from Western Riverside County cities with a population of under 100,000, a representative from Coachella and Palo Verde Valley cities with a population of less than 100,000 people, two city representative from cities with a population over 100,000, and three members from the Board of Supervisors. The representatives from the cities are selected through a caucus process that usually takes place at the December Commission meeting. Agenda Item 6D 17 Currently, two regular members that represent the cities of Corona, Jurupa Valley, Moreno Valley, Murrieta, Riverside, and Temecula are members of the Executive Committee. Data from the California Department of Finance shows Menifee has exceeded the 100,000 mark in population (Attachment 1). Staff recommends amending the Administrative Code to recognize Menifee's standing as a city of more than 100,000. Citizens and Specialized Transit Advisory Committee At its April 2021 meeting, the Commission adopted new bylaws for the Citizens and Specialized Transit Advisory Committee (CSTAC). Staff is recommending these changes be reflected in the Commission's Administrative Code for consistency. The redline changes are located on pages 11-13 of Attachment 2 to this agenda item. Claims Policy The current Administrative Code has listed the California Claims Act in its entirety. As state law is amended from time to time, staff recommends removing the language and replacing it with language stating the Commission will follow the requirements set forth in the California Government Claims Act. The Commission's current operations include 7 commuter rail stations, 25 miles of toll roads and a variety of ongoing construction projects. This can result in the presentation of a number of claims to the commission for consideration. Staff and legal counsel have recommended including language in the Administrative Code authorizing the Executive Director, upon advice of General Counsel, to settle these claims on behalf of the Commission. Presentation of Proposed Amendments and Minor Language Edits Staff attached the entire Administrative Code for the Committee's review and has clearly denoted proposed amendments and changes discussed previously in this staff report, as well as minor clarifications to address language that is archaic or no longer applicable. Attachments: 1) City/County Population and Housing Estimates, 01/01/2022 2) Redlined RCTC Administrative Code with Proposed Changes 3) Ordinance No. 22-001 Agenda Item 6D 18 ATTACHMENT 1 * DEPARTMENT OF Gavin Newsom • Governor °4&,Fo�N'"FINANCE FOR IM M EDIA1E RELEASE: May 2, 2022 915 L Street • Sacramento CA • 95814-3706 • www.dof.ca.gov SLOWING STATE POPULATION DECUNEPUTS LAMEST POPULATION AT39,185,000 CONTACT WalterSchwarm (916) 323-4086 H.D. Palmer (916) 323-0648 SACRAMENTO— California's population dipped slightly by 117,552 residents last year, bringing the state'stotal to 39,185,605 people asof January 1, 2022, according to new population estimates and housing data released today by the California Department of Finance. The 0.3 -percent decline representsa slowing compared to the 0.59 -percent decline overthe nine - month period between the April 2020 Censusdate and the year'send. As Baby Boomersage, and fertility declinesamong younger cohorts, the continuing slowdown in natural increase -- birthsminusdeaths-- underliesthe plateauing of the state'spopulation growth. The addition of COVID-19-related deaths, federal policiesrestricting immigration, and an increase in domestic out -migration further affected population totals. Overall growth wasalso affected by continuing federal delaysin processing foreign migration: while last year saw positive immigration (43,300), the level was below the average annual rate of 140,000 before the pandemic. The report containspreliminary year -over -year January 2022 and revised January 2021 population data forCalifomia cities, counties, and the state. These estimatesare ba d on information through January 1, 2022. Sgnificant changesoverthe year include: • While population growth remained strong in the interior countiesof the Central Valley and the Inland Empire, the majority of countiessaw declines, including every coastal county except San LuisObispo, Santa Barbara, and Santa Cruz (due in part to college studentsreturning to campus). • Only two countieshad growth above one percent: Yolo (1.8 percent), due to increasesin college group quarters(dorms), and San Benito (1.1 percent), due to housing gains. Following in percentage growth were Modoc (1.0 percent), Tuolumne (0.9 percent), and Merced (0.9 percent) counties. • Thirty-four of the state'sfifty-eight countieslost population. The ten largest percentage decreasesoccurred in Plumas(-3.2 percent), Larrn (-2.8 percent), Butte (-2.4 percent), Del Norte (-1.4 percent), Napa (-1.0 percent), San Mateo (-0.9 percent), Marin (-0.9 percent), Shasta (-0.8 percent), San Francisco (-0.8 percent), and Ventura (-0.8 percent). • The state'sthree most populouscountiesall experienced population loss: LosAngeles declined by 70,114 persons( -0.7 percent), San Diego by 1,197 persons( -0.04 percent), and Orange by 7,297 persons( -0.2 percent). 19 Also of note in the report: • 361 citieslost population, while 118 gained population and 3 had no change. • Of the ten largest cities in California, Bakersfield had the largest percentage gain in population (0.7 percent, or2,736), followed by San Diego (0.2 percent, or2,958). • Group quarters represent 2.3 percent (907,000) of the total state population. This population includestho living in college dormitories240,000) and in correctional facilities (172,000). Between April 1, 2020 and January 1, 2021, California'sgroup quarters population decreased by 165,000 people or 17 percent, due principally to policies associated with COVID-19. The dormitory population dropped by 109,000 (45.0 percent). In 2021, however, college group quarterspopulationshave returned to 98.9 percent of their 2020 Censuslevelswith 240,000 students in dormitories, which restored populations in many college towns. Areasmost affected by the pandemic -driven shift in college dormitory population between 2020 and 2021 based on total population growth include: Unincorporated Yolo County (26.5 percent), Santa Cruz(11.3 percent), Albany (5.4 percent), Unincorporated Santa Barbara County (4.5 percent), Seaside (3.1 percent), and Irvine (3.0 percent). • State prisonsare generally located in remote areas; asa result, increasesordecreasescan account for significant changesin their respective area populations. For example, prison declinesled to population decreasesin Taft (-4.7 percent) in Kern County, Susanville (-9 percent) in Lasq.n County, and Crescent City (-4.1 percent) in Del Norte County. Background Information: These population estimatesare produced annually by the Department of Finance for use by local areasto calculate their annual appropriationslimit. The State Controller'sOffice u sFinance's estimatesto update their population figuresfordistribution of state subventionsto citiesand counties, and to comply with variousstate codes. Additionally, estimatesare used for research and planning purposesby federal, state, and local agencies the academic community, and the private sector. These estimates reflect a state and county level revision of the preliminary January 1, 2021 estimatesthat were released in May 2021 and reflected a state population at 39,466,855 versus thisyear'srevised estimate of 39,303,157; a downward revision of 163,698. The primary causes are the change to a new Census2020 benchmark, and higher migration estimatesduring the COVID-19 pandemic. Changesto the housing stock are used in the preparation of the annual city population estimates. Estimated occupancy of housing unitsand the number of personsper household further determine population levels. Changesin city housing stock result from new construction, demolitions, housing unit conversions, and annexations. The sub -county population estimatesare then adjusted to be consistent with independently produced county estimates. Comparing CensusBureau'srecently released July 1, 2021 estimateswith Rnance'sJanuary 1, 2022 estimatesshould generally be avoided since they referto different pointsin time. In addition, there are numerousdifferencesbetween the two seriesincluding the effectsof the wildfires, changesin migration patterns, accelerating slowdown in births, and excessdeathsdue to the COVID-19 pandemic that make comparisonsdifficult. All Finance population and housing estimatesare benchmarked to a decennial census. The estimatesin thisreport are benchmarked to the 2020 decennial census. Related population reportsare available on the Department'swebsite: http://www.dof.ca.gov/Forecasting/Demographics' # # # 20 Department of Finance Demographic Research Unit Population EstimatesforCalifornia Cities 10 Largest Cities City 1. LosAngeles 2. San Diego 3. San Jose 4. San Francisco 5. Fre sn o 6. Sacramento 7. Long Beach 8. Oakland 9. Ba ke rsfie ld 10. Anaheim City 1. Santa Cruz 2. Lathrop 3. Seaside 4. Irvine 5. Menifee 6. Berkeley 7. Stanton 8. Delano 9. Chino 10. Manteca City 1. Santa Cruz 2. Berkeley 3. Menifee 4. Fontana 5. Ontario 6. Roseville 7. Chino 8. Clovis 9. Lathrop 10. Manteca Population January 1, 2022 3,819,538 1,374,790 976,482 842,754 543,660 518,037 460,682 424,464 408,865 341,245 Percent Change 2021-22 10 Fastest Growing Citieswith PopulationsOver30,000 Population January 1, 2022 64,075 31,331 32,068 310,250 106,627 124,563 39,275 51,258 91,998 86,859 - 0.9 0.2 - 1.5 - 0.8 0.2 - 0.1 0.2 - 1.3 0.7 - 1.0 Percent Change 2021-22 11.3 6.6 3.1 3.0 2.9 2.7 2.6 2.4 2.4 2.2 10 Cities Under 300,000 with the Largest Numeric Change Population January 1, 2022 64,075 124,563 106,627 212,809 179,516 151,034 91,998 123,665 31,331 86,859 Numeric Change 2021-22 6,481 3,294 3,010 2,920 2,827 2,240 2,174 1,998 1,947 1,864 21 E-1: City/County/State Population Estimates with Annual Percent Change January 1, 2021 and 2022 JURISDIC11ON CALIFORNIA Alameda Alameda Albany Berkeley Dublin Emeryville Fremont Hayward Livermore Newark Oakland Piedmont Pleasanton San Leandro Union City Balance of County Alpine Amador Amador lone Jackson Plymouth Sutter Creek Balance of County Butte Biggs Chico Gridley Oroville Paradise Balance of County Calaveras Angels City Balance of County Colusa Colusa William s Balance of County Contra Costa Antioch Brentwood Clayton Concord Total Population Percent 1/1/21 1/1/22 Change 39,303,157 39,185,605 -0.3 1,662,370 1,651,979 -0.6 78,262 77,784 -0.6 20,542 21,648 5.4 121,269 124,563 2.7 73,209 72,932 -0.4 12,617 12,497 -1.0 228,872 229,476 0.3 161,744 160,591 -0.7 87,388 86,149 -1.4 47,157 47,229 0.2 430,100 424,464 -1.3 11,138 10,977 -1.4 78,924 77,609 -1.7 89,926 88,404 -1.7 69,301 68,150 -1.7 151,921 149,506 -1.6 1,195 1,200 0.4 40,287 40,297 0.0 193 191 -1.0 8,722 8,888 1.9 5,028 5,028 0.0 1,056 1,045 -1.0 2,640 2,620 -0.8 22,648 22,525 -0.5 206,640 201,608 -2.4 1,974 1,939 -1.8 102,359 102,892 0.5 7,413 7,205 -2.8 20,119 18,863 -6.2 6,137 7,705 25.5 68,638 63,004 -8.2 45,250 45,049 -0.4 3,641 3,623 -0.5 41,609 41,426 -0.4 21,773 21,807 0.2 6,356 6,383 0.4 5,530 5,563 0.6 9,887 9,861 -0.3 1,161,324 1,156,555 -0.4 115,142 115,074 -0.1 64,224 64,342 0.2 10,964 10,863 -0.9 124,755 123,634 -0.9 JURISDIC11ON Da nville H Cerrito Hercules Lafayette Martinez Moraga Oakley Orinda Pinola Pittsburg Pleasant Hill Richmond San Pablo San Ramon Walnut Creek Balance of County Del Norte Crescent City Balance of County B Dorado Placerville South Lake Tahoe Balance of County Fresno Clovis Coalinga Firebaugh Fowler Fre sn o Huron Kerman King sb u rg Mendota Orange Cove Pa tiler Reed ley Sanger San Joaquin Selma Balance of County Glenn Orland Willows Balance of County Total Population Percent 1/1/21 1/1/22 Change 43,373 43,352 0.0 25,671 25,650 -0.1 26,357 26,091 -1.0 25,217 25,064 -0.6 37,195 36,908 -0.8 17,206 17,105 -0.6 43,627 44,533 2.1 19,496 19,478 -0.1 18,819 18,628 -1.0 75,788 75,156 -0.8 34,335 34,026 -0.9 114,643 114,489 -0.1 31,793 31,510 -0.9 84,226 83,820 -0.5 70,566 69,891 -1.0 177,927 176,941 -0.6 27,593 27,218 -1.4 6,320 6,060 -4.1 21,273 21,158 -0.5 191,054 190,465 -0.3 10,636 10,646 0.1 21,508 21,199 -1.4 158,910 158,620 -0.2 1,009,231 1,011,273 0.2 121,667 123,665 1.6 17,520 17,277 -1.4 8,164 8,439 3.4 6,863 6,962 1.4 542,720 543,660 0.2 6,176 6,170 -0.1 16,074 16,639 3.5 12,533 12,506 -0.2 12,499 12,440 -0.5 9,553 9,497 -0.6 14,553 14,497 -0.4 24,929 24,982 0.2 26,558 26,304 -1.0 3,674 3,639 -1.0 24,702 24,522 -0.7 161,046 160,074 -0.6 28,788 28,750 -0.1 8,319 8,267 -0.6 6,345 6,427 1.3 14,124 14,056 -0.5 22 E-1: City/County/State Population Estimates with Annual Percent Change January 1, 2021 and 2022 JURISDIC11ON Total Population Percent 1/1/21 1/1/22 Change JURISDIC11ON Total Population Percent 1/1/21 1/1/22 Change Humboldt 135,553 135,168 -0.3 Lassen 31,132 30,274 -2.8 Arcata 17,633 18,059 2.4 Susanville 14,514 13,212 -9.0 Blue Lake 1,165 1,151 -1.2 Balance of County 16,618 17,062 2.7 Eureka 27,134 26,768 -1.3 Ferndale 1,376 1,367 -0.7 LosAngeles 9,931,338 9,861,224 -0.7 Fortuna 12,523 12,432 -0.7 Agoura Hills 19,975 19,771 -1.0 Rio Dell 3,380 3,342 -1.1 Alhambra 82,182 81,834 -0.4 Trinidad 300 296 -1.3 Arcadia 56,240 55,934 -0.5 Balance of County 72,042 71,753 -0.4 Artesia 16,347 16,226 -0.7 Avalon 3,428 3,394 -1.0 Imperial 179,488 179,329 -0.1 Azusa 50,191 49,704 -1.0 Brawley 26,648 26,952 1.1 Baldwin Park 71,455 70,855 -0.8 Calexico 38,906 38,711 -0.5 Bell 33,962 33,624 -1.0 Calipatria 6,465 6,367 -1.5 Bellflower 78,107 77,359 -1.0 8 Centro 44,871 44,508 -0.8 Bell Gardens 39,265 38,861 -1.0 Holtville 5,504 5,565 1.1 Beverly Hills 32,565 32,265 -0.9 Imperial 20,755 21,513 3.7 Bradbury 914 904 -1.1 Westmorland 2,017 2,004 -0.6 Burbank 106,268 105,451 -0.8 Balance of County 34,322 33,709 -1.8 Calabasas 23,151 22,926 -1.0 Carson 92,912 92,362 -0.6 Inyo 18,982 18,978 0.0 Cerritos 49,163 48,634 -1.1 Bishop 3,868 3,869 0.0 Claremont 37,364 37,072 -0.8 Balance of County 15,114 15,109 0.0 Commerce 12,273 12,140 -1.1 Compton 95,261 94,233 -1.1 Kem 907,324 909,813 0.3 Covina 50,933 50,449 -1.0 Arvin 19,833 19,639 -1.0 Cudahy 22,526 22,318 -0.9 Bakersfield 406,129 408,865 0.7 Culver City 40,330 40,135 -0.5 California City 14,942 14,952 0.1 Diamond Bar 54,782 54,204 -1.1 Delano 50,045 51,258 2.4 Downey 113,525 112,584 -0.8 Maricopa 1,028 1,018 -1.0 Duarte 21,473 21,258 -1.0 McFarland 14,034 13,902 -0.9 8 Monte 108,728 107,706 -0.9 Ridgecrest 28,059 28,061 0.0 8 Segundo 17,244 17,084 -0.9 Shafter 19,950 20,486 2.7 Gardena 60,382 59,947 -0.7 Taft 7,355 7,011 -4.7 Glendale 194,618 193,116 -0.8 Tehachapi 12,260 12,375 0.9 Glendora 52,316 51,821 -0.9 Wasco 25,235 26,689 5.8 Hawaiian Gardens 13,755 13,619 -1.0 Balance of County 308,454 305,557 -0.9 Hawthorne 87,722 86,841 -1.0 Hermosa Beach 19,382 19,171 -1.1 Flings 151,059 152,023 0.6 Hidden Hills 1,736 1,738 0.1 Avenal 12,750 13,186 3.4 Huntington Park 54,519 53,942 -1.1 Corcoran 20,807 22,047 6.0 Industry 440 438 -0.5 Hanford 58,544 58,299 -0.4 Inglewood 107,143 106,481 -0.6 Lemoore 27,225 27,058 -0.6 Irwindale 1,482 1,490 0.5 Balance of County 31,733 31,433 -0.9 La Canada 20,291 20,081 -1.0 Rintridge Lake 67,651 67,407 0.4 La Habra Heights 5,655 5,594 -1.1 Clearlake 16,671 16,509 -1.0 Lakewood 81,681 80,876 1.0 La ke p o rt 4,898 4,999 2.1 La Mirada 49,074 48,696 -0.8 Balance of County 46,082 45,899 -0.4 Lancaster 176,166 175,164 0.6 La Puente 37,626 37,587 -0.1 La Verne 32,608 32,304 -0.9 23 E-1: City/County/State Population Estimates with Annual Percent Change January 1, 2021 and 2022 JURISDIC1ION Total Population Percent 1/1/21 1/1/22 Change Paramount 53,009 52,477 -1.0 Pasadena 139,029 138,310 -0.5 Mendocino 90,669 89,999 -0.7 Pico Rivera 61,827 61,442 -0.6 Fort Bragg 7,064 7,153 1.3 Pomona 148,879 149,766 0.6 Rancho Palos Point Arena 446 443 -0.7 Verdes 41,878 41,468 -1.0 Ukiah 16,228 16,080 -0.9 Redondo Beach 69,742 68,972 -1.1 Willits 4,959 4,920 -0.8 Rolling Hills 1,703 1,684 -1.1 Balance of County 61,972 61,403 -0.9 Rolling Hills Estates 8,283 8,289 0.1 Rosemead 50,823 50,511 -0.6 Merced 281,874 284,338 0.9 San Dimas 34,651 34,352 -0.9 Atwater 32,019 31,652 -1.1 San Fernando 23,520 23,519 0.0 Dos Palos 5,835 5,715 -2.1 &in Gabriel 39,250 38,845 -1.0 Gustine 6,098 5,981 -1.9 San Marino 12,334 12,257 -0.6 Livingston 14,340 14,410 0.5 Santa Clarita 228,084 228,835 0.3 LosBanos 46,168 46,639 1.0 Santa Fe Springs 18,568 18,763 1.1 Merced 88,200 89,058 1.0 Santa Monica 93,242 92,408 -0.9 Balance of County 89,214 90,883 1.9 Serra Madre 10,959 10,865 -0.9 Sgnal Hill 11,702 11,597 -0.9 Modoc 8,606 8,690 1.0 South B Monte 19,532 19,668 0.7 Alturas 2,699 2,726 1.0 South Gate 92,783 93,259 0.5 Balance of County 5,907 5,964 1.0 South Pasadena 26,849 26,580 -1.0 Temple City 36,497 36,262 -0.6 Mono 13,299 13,379 0.6 Torrance 145,876 144,433 -1.0 Mammoth Lakes 7,324 7,365 0.6 Vernon 210 208 -1.0 Balance of County 5,975 6,014 0.7 Walnut 28,344 28,094 -0.9 West Covina 109,290 108,243 -1.0 Monterey 435,721 433,716 -0.5 West Hollywood 35,553 35,399 -0.4 Carmel -by -the -Sea 3,095 3,041 -1.7 Westlake Village 8,121 8,043 -1.0 Del Rey Oaks 1,558 1,539 -1.2 Whittier 87,886 87,931 0.1 Gonzales 8,492 8,340 -1.8 Balance of County 1,016,626 1,009,857 -0.7 Greenfield 18,705 19,634 5.0 King City 13,476 13,331 -1.1 Madera 156,385 157,396 0.6 Marina 21,271 21,457 0.9 Chowchilla 18,412 18,851 2.4 Monterey 28,347 28,082 -0.9 Madera 66,299 65,843 -0.7 Pacific Grove 14,942 14,761 -1.2 Balance of County 71,674 72,702 1.4 Salinas 161,777 159,932 -1.1 JURISDIC11ON Total Population Percent 1/1/21 1/1/22 Change Lawndale 31,638 31,301 -1.1 Marin 259,512 257,135 -0.9 Lomita 20,851 20,633 -1.0 Belvedere 2,103 2,080 -1.1 Long Beach 459,757 460,682 0.2 Corte Madera 10,147 10,028 -1.2 LosAngeles 3,853,323 3,819,538 -0.9 Fairfax 7,496 7,418 -1.0 Lynwood 67,260 66,723 -0.8 Larkspur 12,963 12,797 -1.3 Malibu 10,739 10,686 -0.5 Mill Valley 14,002 13,850 -1.1 Manhattan Beach 35,357 34,902 -1.3 Novato 53,008 52,441 -1.1 Maywood 25,033 24,814 -0.9 Ross 2,330 2,301 -1.2 Monrovia 37,809 37,563 -0.7 San Anselmo 12,772 12,645 -1.0 Montebello 62,180 61,622 -0.9 San Rafael 61,179 60,560 -1.0 Monterey Park 60,814 60,207 -1.0 Sausalito 7,159 7,072 -1.2 Norwalk 102,356 101,645 -0.7 Tiburon 9,065 8,956 -1.2 Palmdale 168,895 167,398 -0.9 Balance of County 67,288 66,987 -0.4 PalosVerdes 13,116 12,980 -1.0 Estates Mariposa 17,066 17,045 -0.1 Sand City 378 372 -1.6 24 E-1: City/County/State Population Estimates with Annual Percent Change January 1, 2021 and 2022 JURISDIC1ION Seaside Soledad Balance of County Napa American Canyon Calistoga Napa a Helena Yountville Balance of County Nevada GrassValley Nevada City Truckee Balance of County Orange Aliso Viejo Anaheim Brea Buena Park Costa Mesa Cypress Dana Point Fountain Valley Fullerton Garden Grove Huntington Beach Irvine Laguna Beach Laguna Hills Laguna Niguel Laguna Woods La Habra Lake Forest La Palma Los Alamitos Mission Viejo Newport Beach Orange Placentia Rancho manta Margarita San Clemente San Juan Capistrano Santa Ana Seal Beach Stanton Tustin Total Population Percent 1/1/21 1/1/22 Change 31,113 32,068 3.1 26,316 26,308 0.0 106,251 104,851 -1.3 137,518 136,179 -1.0 21,566 21,658 0.4 5,283 5,199 -1.6 78,246 77,480 -1.0 5,521 5,437 -1.5 2,942 2,829 -3.8 23,960 23,576 -1.6 101,919 101,242 -0.7 13,670 13,617 -0.4 3,386 3,334 -1.5 17,035 17,100 0.4 67,828 67,191 -0.9 3,169,542 3,162,245 -0.2 51,233 50,782 -0.9 344,604 341,245 -1.0 47,097 46,872 -0.5 83,968 83,430 -0.6 112,183 111,394 -0.7 50,029 49,810 -0.4 33,053 32,943 -0.3 57,068 56,564 -0.9 141,974 142,732 0.5 171,284 170,526 -0.4 197,616 196,100 -0.8 301,254 310,250 3.0 22,862 22,706 -0.7 31,017 30,750 -0.9 64,885 64,316 -0.9 17,670 17,514 -0.9 62,317 61,792 -0.8 86,406 86,775 0.4 15,463 15,332 -0.8 11,895 11,873 -0.2 93,171 92,515 -0.7 84,459 83,727 -0.9 137,534 137,676 0.1 51,522 51,204 -0.6 47,703 47,279 -0.9 63,877 63,380 -0.8 34,907 34,798 -0.3 311,340 308,459 -0.9 25,002 24,846 -0.6 38,284 39,275 2.6 80,157 79,535 -0.8 JURISDIC11ON Villa Park Westminster Yorba Linda Balance of County Placer Auburn Colfax Lincoln Loomis Rocklin Roseville Balance of County Plumas Portola Balance of County Riverside Banning Beaumont Blythe Calimesa Canyon Lake Cathedral City Coachella Corona Desert Hot 4)rings Ea stva le Hemet Indian Wells Indio Jurupa Valley Lake Elsinore La Quinta Menifee Moreno Valley M urrieta Norco Palm Desert Palm Springs Perris Rancho Mirage Riverside Stan Jacinto Temecula Wildomar Balance of County Sacramento Citrus Heights Total Population Percent 1/1/21 1/1/22 Change 5,834 5,782 -0.9 90,812 90,393 -0.5 67,760 67,233 -0.8 133,302 132,437 -0.6 407,517 409,025 0.4 13,795 13,608 -1.4 2,016 2,042 1.3 50,422 51,252 1.6 6,833 6,739 -1.4 71,644 71,663 0.0 148,794 151,034 1.5 114,013 112,687 -1.2 19,574 18,942 -3.2 2,027 2,042 0.7 17,547 16,900 -3.7 2,424,587 2,435,525 0.5 30,629 30,877 0.8 54,313 54,690 0.7 17,470 17,505 0.2 10,544 10,899 3.4 11,147 11,056 -0.8 51,898 51,840 -0.1 42,178 42,158 0.0 156,901 156,778 -0.1 32,546 32,569 0.1 70,444 69,929 -0.7 89,823 89,646 -0.2 4,771 4,762 -0.2 88,862 89,137 0.3 105,415 105,384 0.0 70,891 71,615 1.0 37,949 37,860 -0.2 103,617 106,627 2.9 209,603 209,407 -0.1 111,671 111,183 -0.4 24,563 24,909 1.4 50,976 50,889 -0.2 44,570 44,397 -0.4 79,327 78,890 -0.6 16,650 16,804 0.9 312,789 317,847 1.6 54,503 54,593 0.2 110,394 109,925 -0.4 36,928 36,632 -0.8 393,215 396,717 0.9 1,580,624 1,576,618 -0.3 87,245 86,367 -1.0 25 E-1: City/County/State Population Estimates with Annual Percent Change January 1, 2021 and 2022 JURISDIC11ON 8k Grove Folsom Galt Ideton Rancho Cordova Sacramento Balance of County San Benito Hollister San Juan Bautista Balance of County San Bernardino Ad e la nto Apple Valley Barstow Big Bear Lake Chino Chino Hills Colton Fontana Grand Terrace Hesperia Highland Loma Unda Montclair Needles Ontario Rancho Cucamonga Redlands Rialto San Bernardino Twentynine Palms Upland Victorville Yucaipa Yucca Valley Balance of County San Diego Carlsbad Chula Vista Coronado Del Mar 8 Cajon Encinitas Escondido Imperial Beach La Mesa Total Population Percent 1/1/21 1/1/22 Change JURISDIC11ON 176,769 176,972 0.1 Lemon Grove 83,075 84,592 1.8 National City 25,383 25,239 -0.6 Oceanside 790 780 -1.3 Poway 79,536 80,359 1.0 San Diego 518,322 518,037 -0.1 San Marcos 609,504 604,272 -0.9 Santee Solana Beach 64,769 65,479 1.1 Vista 41,919 42,554 1.5 Balance of County 2,120 2,093 -1.3 20,730 20,832 0.5 San Francisco 2,182, 343 36,569 76,160 25,405 5,054 89,824 78,437 53,853 209,889 13,131 100,225 56,915 25,310 38,052 4,915 176,689 2,187,665 36,357 75,628 25,202 5,041 91,998 77,964 53,617 212,809 13,042 100,324 56,546 25,349 37,846 4,876 179,516 174,484 174,476 72,933 104,050 222,024 27,486 78,891 134,700 54,830 21,846 300,671 3,288,503 115,680 276,922 22,611 3,957 106,447 61,724 151,389 26,448 60,608 72,585 103,954 220,840 27,685 79,139 136,561 54,494 21,813 300,003 3,287,306 115,585 276,785 22,277 3,929 105,638 61,515 150,679 26,243 60,472 0.2 - 0.6 -0.7 - 0.8 - 0.3 2.4 - 0.6 - 0.4 1.4 - 0.7 0.1 - 0.6 0.2 -0.5 - 0.8 1.6 0.0 - 0.5 -0.1 - 0.5 0.7 0.3 1.4 -0.6 - 0.2 - 0.2 0.0 - 0.1 0.0 -1.5 - 0.7 - 0.8 - 0.3 -0.5 - 0.8 - 0.2 San Joaquin Escalon Lathrop Lodi Manteca Ripon Stockton Tra cy Balance of County San Luis Obispo Arroyo Grande Atascadero 8 Paso de Robles GroverBeach Morro Bay Pismo Beach San LuisObispo Balance of County San Mateo Atherton Belmont Brisbane Burlingame Colma Daly City East Palo Alto Foster City Half Moon Bay Hillsborough Menlo Park Millbrae Pacifica Portola Valley Redwood City San Bruno San Carlos Total Population 1/1/21 1/1/22 27,422 61,755 173,932 48,850 1,371,832 92,958 59,146 12,909 99,536 514,377 27,242 61,471 173,048 48,759 1,374,790 93,585 59,015 12,812 100,291 513,170 849,475 842,754 782,372 7,439 29,384 66,145 84,995 16,162 323,884 93,624 160,739 279,710 18,533 30,823 31,659 12,879 10,638 8,095 47,541 119,542 751,596 6,806 27,587 4,789 30,699 1,391 103,930 29,423 33,325 11,462 11,110 33,509 22,807 38,088 4,355 81,771 43,169 30,207 784,298 7,362 31,331 66,570 86,859 15,979 322,489 94,538 159,170 280,721 18,294 30,480 31,176 12,707 10,466 7,981 47,653 121,964 744,662 6,718 27,203 4,721 30,283 1,370 102,875 28,963 33,056 11,308 11,018 33,034 22,512 37,533 4,289 82,344 42,656 29,837 Percent Change - 0.7 - 0.5 - 0.5 - 0.2 0.2 0.7 - 0.2 - 0.8 0.8 - 0.2 - 0.8 0.2 -1.0 6.6 0.6 2.2 - 1.1 - 0.4 1.0 - 1.0 0.4 - 1.3 - 1.1 - 1.5 - 1.3 -1.6 -1.4 0.2 2.0 - 0.9 - 1.3 - 1.4 -1.4 - 1.4 - 1.5 -1.0 - 1.6 - 0.8 - 1.3 - 0.8 - 1.4 - 1.3 - 1.5 -1.5 0.7 - 1.2 - 1.2 26 E-1: City/County/State Population Estimates with Annual Percent Change January 1, 2021 and 2022 JURISDICTION Total Population Percent Total Population Percent 1/1/21 1/1/22 Change JURISDICTION 1/1/21 1/1/22 Change San Mateo 104,719 103,779 -0.9 Siskiyou 43,931 43,830 -0.2 South San Francisco 65,090 64,492 -0.9 Dorris 859 847 -1.4 Woodside 5,271 5,212 -1.1 Dunsnuir 1,705 1,681 -1.4 Balance of County 62,088 61,459 -1.0 Etna 684 674 -1.5 Fort Jones 694 684 -1.4 Santa Barbara 443,674 445,164 0.3 Montague 1,232 1,215 -1.4 Buellton 5,185 5,055 -2.5 Mount Shasta 3,247 3,204 -1.3 Carpinteria 13,267 12,963 -2.3 Tulelake 899 886 -1.4 Goleta 33,315 32,591 -2.2 Weed 2,826 2,828 0.1 Guadalupe 8,622 8,544 -0.9 Yreka 7,777 7,772 -0.1 Lompoc 44,044 43,845 -0.5 Balance of County 24,008 24,039 0.1 Santa Barbara 88,499 86,591 -2.2 Santa Maria 110,969 109,910 -1.0 Solano 449,964 447,241 -0.6 Solvang 5,858 5,709 -2.5 Benicia 26,995 26,656 -1.3 Balance of County 133,915 139,956 4.5 Dixon 19,094 19,083 -0.1 Fairfield 120,421 119,897 -0.4 Santa Clara 1,907,693 1,894,783 -0.7 Poo Vista 9,961 9,925 -0.4 Campbell 43,086 42,833 -0.6 Suisun City 29,266 28,896 -1.3 Cupertino 59,884 59,610 -0.5 Vacaville 101,286 101,257 0.0 Gilroy 59,396 59,269 -0.2 Vallejo 124,410 123,190 -1.0 LosAltos 31,651 31,526 -0.4 Balance of County 18,531 18,337 -1.0 Los Altos Hills 8,414 8,400 -0.2 LosGatos 33,193 33,062 -0.4 Sonoma 484,674 482,404 -0.5 Milpitas 80,287 80,839 0.7 Cloverdale 9,029 8,905 -1.4 Monte Sereno 3,458 3,488 0.9 Cotati 7,512 7,397 -1.5 Morgan Hill 46,626 46,451 -0.4 Healdsburg 11,174 11,030 -1.3 Mountain View 83,128 83,864 0.9 Petaluma 59,756 58,945 -1.4 Palo Alto 67,422 67,473 0.1 Rohnert Park 44,287 43,998 -0.7 San Jose 991,144 976,482 -1.5 Santa Rosa 177,396 175,775 -0.9 Santa Clara 129,122 130,127 0.8 Sebastopol 7,520 7,489 -0.4 Saratoga 30,772 30,667 -0.3 Sonoma 10,755 10,779 0.2 Sunnyvale 155,326 156,234 0.6 Windsor 26,134 25,942 -0.7 Balance of County 84,784 84,458 -0.4 Balance of County 131,111 132,144 0.8 Santa Cruz 266,553 266,564 0.0 Stanislaus 551,737 549,466 -0.4 Capitola 10,112 9,794 -3.1 Ceres 48,762 48,386 -0.8 Santa Cruz 57,594 64,075 11.3 Hughson 7,495 7,495 0.0 ScottsValley 12,407 12,049 -2.9 Modesto 218,745 217,880 -0.4 Watsonville 52,147 50,669 -2.8 Newman 12,326 12,244 -0.7 Balance of County 134,293 129,977 -3.2 Oakdale 23,110 23,071 -0.2 Patterson 23,839 24,370 2.2 Shasta 182,020 180,531 -0.8 Riverbank 24,735 24,583 -0.6 Anderson 11,181 11,088 -0.8 Turlock 71,734 71,531 -0.3 Redding 93,879 92,963 -1.0 Waterford 8,944 8,872 -0.8 Shasta Lake 10,318 10,237 -0.8 Balance of County 112,047 111,034 -0.9 Balance of County 66,642 66,243 -0.6 Sutter 98,908 99,145 0.2 Serra 3,225 3,229 0.1 Live Oak 9,191 9,394 2.2 Loyalton 737 737 0.0 Yuba City 69,614 69,663 0.1 Balance of County 2,488 2,492 0.2 Balance of County 20,103 20,088 -0.1 27 E-1: City/County/State Population Estimates with Annual Percent Change January 1, 2021 and 2022 JURISDIC1ION Total Population Percent 1/1/21 1/1/22 Change Tehama 65,374 65,052 -0.5 Corning 8,157 8,100 -0.7 Red Bluff 14,698 14,605 -0.6 Te h a m a 427 424 -0.7 Balance of County 42,092 41,923 -0.4 Trinity 16,050 16,023 -0.2 Tulare 474,032 475,014 0.2 Dinuba 24,872 25,127 1.0 Exeter 10,305 10,257 -0.5 Farmersville 10,308 10,239 -0.7 Lindsay 12,624 12,566 -0.5 Porterville 62,515 62,345 -0.3 Tulare 69,229 69,462 0.3 Visalia 141,279 142,091 0.6 Woodlake 7,513 7,648 1.8 Balance of County 135,387 135,279 -0.1 Tuolumne 54,791 55,291 0.9 Sonora 5,121 5,144 0.4 Balance of County 49,670 50,147 1.0 Ventura 840,093 833,652 -0.8 Camarillo 70,739 70,171 -0.8 Fillmore 16,681 16,469 -1.3 Moorpark 35,821 35,399 -1.2 Ojai 7,523 7,466 -0.8 Oxnard 200,480 200,050 -0.2 Port Hueneme 22,188 21,599 -2.7 an Buenaventura 109,821 108,231 -1.4 Santa Paula 30,629 30,892 0.9 Sm i Valley 126,478 124,985 -1.2 Thousand Oaks 125,995 124,592 -1.1 Balance of County 93,738 93,798 0.1 Yolo 217,237 221,165 1.8 Davis 66,687 64,869 -2.7 West Sacramento 53,776 52,837 -1.7 Winters 7,399 7,422 0.3 Woodland 60,999 60,137 -1.4 Balance of County 28,376 35,900 26.5 Yuba 81,988 82,275 0.4 Marysville 13,003 12,824 -1.4 Wheatland 3,708 3,664 -1.2 Balance of County 65,277 65,787 0.8 JURISDIC1ION Total Population Percent 1/1/21 1/1/22 Change 28 Top 10 Cities Based on Housing Unit Growth Total Numeric Housing Unit Growth Rank Cit Count Total HU 1 Los An eles Los An eles 14,493 2 San Diego San Diego 6,378 3 San Francisco San Francisco 4,497 4 Oakland Alameda 3,551 5 Irvine Oran e 2,775 6 Bakersfield Kern 2,209 7 Roseville Placer 1,892 8 Sacramento Sacramento 1,698 9 Fresno Fresno 1,644 10 Fremont Alameda 1,642 Numeric Single -Family Housing Unit Growth Rank City County Total HU 1 Bakersfield Kern 1,544 2 Los An eles Los An eles 1,500 3 Menifee Riverside 1,425 4 Roseville Placer 1,414 5 Irvine Orange 1,361 6 Fresno Fresno 1,230 7 Clovis Fresno 1,112 8 Sacramento Sacramento 903 9 Ontario San Diego 862 10 Lathrop San Joaquin 821 Numeric Multi -Family Housing Unit Growth Rank City County Total HU 1 Los Angeles Los Angeles 12,993 2 San Diego San Diego 5,628 3 San Francisco San Francisco 4,596 4 Oakland Alameda 3,494 5 Fremont Alameda 1,561 6 Irvine Orange 1,414 7 Long Beach Los Angeles 1,184 8 San Jose Santa Clara 1,091 9 Sacramento Sacramento 795 10 Sunnyvale Santa Clara 686 Percent Total Housing Unit Growth Rank City County Total HU 1 Paradise Butte 23.36% 2 Lathrop San Joaquin 10.07% 3 Greenfield Monterey 9.71% 4 Imperial Imperial 5.27% 5 lone Amador 4.99% 6 Kerman Fresno 4.52% 7 Firebaugh Fresno 4.37% 8 Calimesa Riverside 4.29% 9 Patterson Stanislaus 3.88% 10 Menifee Riverside 3.87% Percent Single -Family Housing Unit Growth Rank City County Total HU 1 Paradise Butte 21.46% 2 Lathrop San Joaquin 10.97% 3 Firebaugh Fresno 6.25% 4 Calimesa Riverside 6.11% 5 Greenfield Monterey 5.66% 6 lone Amador 5.46% 7 Winters Yolo 4.46% 8 Menifee Riverside 4.31% 9 Colfax Placer 4.27% 10 Kerman Fresno 4.19% Percent Multi -Family Housing Unit Growth Rank City County Total HU 1 Atherton San Mateo 80% 2 Los Altos Hills Santa Clara 44.44% 3 American Canyon Napa 38.59% 4 Hillsborough San Mateo 29.79% 5 Patterson Stanislaus 29.68% 6 Greenfield Monterey 26.67% 7 San Marino Los Angeles 20% 8 Danville Contra Costa 14.66% 9 Lakeport Lake 14.18% 10 Holtville Imperial 13.95% ATTACHMENT 2 ADMINISTRATIVE CODE OF THE RIVERSIDE COUNTY TRANSPORTATION COMMISSION ARTICLE I PURPOSE The Riverside County Transportation Commission is charged with the responsibility of carrying out the purposes and directives of the Legislature as provided for in the County Transportation Commission Act (Division 12, commencing with Section 130000 of the Public Utilities Code). Section 130105 of the Public Utilities Code requires the Commission to adopt an administrative code by ordinance. ARTICLE II MEMBERSHIP A. POWERS OF COMMISSION. Subject to the powers and limitations as provided by law and these rules, all powers of the Commission shall be exercised, its property controlled and its affairs conducted by its Commission. B. REGULAR MEMBERS. The Commission shall consist of 34 regular members appointed as follows: 1. The five members of the Riverside County Board of Supervisors. 2. One member appointed by each of the member cities, which member shall be either a member of that city's City Council or its Mayor. 3. One non -voting member appointed by the Governor. 1 31 C. ALTERNATE MEMBERS. 1. The Riverside County Board of Supervisors shall establish a procedure by which a member of that board may appoint an alternate member of the Board of Supervisors to represent the member for one meeting of the Riverside County Transportation Commission. Notice of the alternate appointment shall be made in writing to the Clerk of the Board 24 hours prior to the meeting. 2. Each incorporated city in Riverside County shall appoint one alternate member to the Commission who shall represent the regular member of the Commission who serves on behalf of the city, if the regular member is not in attendance at a meeting. Notice of the alternate appointment shall be made in writing to the Clerk of the Board 24 hours prior to the meeting. If an incorporated city appoints an alternate member, the alternate member shall be either the mayor or a city council member of that incorporated city. D. VOTING RIGHTS. Except when a weighted vote is called, each regular member of the Commission, and each alternate member when acting in the place of a regular member, shall have one vote at meetings of the Commission. Except for the delegation of votes provided in Section C, above, there shall be no voting by proxy. E. VACANCIES. Any vacancy in the office of regular or alternate member, whether because of death, incapacity, resignation, loss of underlying office, removal or otherwise, shall be filled by the appointing authority for such member. F. RESIGNATION. Any regular or alternate member may resign at any time by giving written notice of such resignation to the Clerk of the Board. Such resignation shall be effective at the time specified; acceptance of such resignation shall not be necessary to make it effective. 2 G. REMOVAL. Any regular or alternate member may be removed, with or without cause stated, by the authority responsible for his or her appointment. H. COMPENSATION. Unless prohibited by law from accepting compensation, each regular and alternate member of the Commission shall be compensated at the rate of One Hundred Dollars ($100) for any day attending to the business of the Commission, but not to exceed Four Hundred Dollars ($400) in any month, along with necessary traveling and personal expenses incurred in the performance of his or her duties as authorized by the Commission. An alternate member may receive compensation only for attendance at a meeting where a regular member is absent for all or part of the meeting. For purposes of this section, "attending to the business of the Commission" means: 1. Attendance at meeting of the Commission. 2. Attendance at committee meetings of the Commission if attending as a member of such committee. 3. Attendance at activities and events for the purpose of representing the Commission when such attendance is formally requested by the Commission or the Chair of the Commission. 4. Attendance at project -related events, e.g., groundbreakings, ribbon cuttings, etc. for Commission -financed or sponsored projects. ARTICLE III ADMINISTRATION A. IN GENERAL. The Officers of the Commission shall consist of the Chair, a Vice Chair, and a Second Vice Chair, all of whom shall be regular members of the Commission, an Executive Director, a General Counsel, Fiscal Officer, and other such officers as the Commission may deem necessary. 3 B. ELECTION OF CHAIR, VICE CHAIR AND SECOND VICE CHAIR. The Commission annually, at its first meeting in December, and at such other times as there may be a vacancy in either office, shall elect a Chair who shall preside at all meetings, a Vice Chair who shall preside in the absence of the Chair, and a Second Vice Chair who shall preside in the absence of the Chair and the Vice Chair. The Chair, the Vice Chair, and the Second Vice Chair shall be elected by the Commission at its first meeting in December or as soon thereafter as practical for a one-year term. The changes will be effective on January 1. The election for each position is as follows: 1. At the start of the agenda item, Commission Board members may nominate one or more regular members to fill the positions of Chair, Vice Chair, and Second Vice Chair. Each nomination must be seconded in order to qualify that member for the election. Only those members nominated and seconded shall be part of the selection process set forth below. 2. If no objections are made, the nominations will be closed when the Chair makes a formal announcement closing the nomination period. 3. If only one nomination is received for a position, the Chair shall call on the Commission's Board of Director's to approve the nomination. If more than fifty (50%) percent of the votes cast approve that nominee, the nominee shall be elected and the election for that position shall be consider complete. lithe nominee fails to obtain more than fifty percent (50%) of votes cast by the Board, the process for electing a member to the desired position shall begin again from paragraph 1. 4. If two nominations are received for a position, the Chair shall call for the Commission's Board of Director's to cast votes for one of the nominees. Both nominees shall be voted on using a single written ballot. If 4 one of the nominees receives more than fifty percent (50%) of the votes cast, that nominee shall be elected and the election for that position shall be considered complete. If the election fails to result in a nominee with more than fifty percent (50%) of the vote, the nominee with the most votes will be placed before the Commission's Board of Directors for approval. The nominee must be approved by more than fifty percent (50%) of the votes cast by the Board in order to be elected to the desired position. If the nominee fails to obtain more than fifty percent (50%) of the Board's vote, the process for electing a person to the desired position shall begin again from paragraph 1. 5. If there are more than two nominees, the following steps shall be followed in the order set forth below: (a) The Chair shall call for the Commission's Board of Directors to cast votes for one of the nominees. All nominees shall be voted on using a single written ballot. A "written" ballot can be either physical or digital. If one nominee receives more than fifty percent (50%) of the votes cast that nominee shall be elected and the election for that position shall be considered complete. If the vote fails to result in a nominee receiving more than fifty percent (50%) of the votes cast, the two nominees with the most votes will be placed in a runoff election. (b) The winning nominee in the runoff election is selected if that nominee receives more than fifty percent (50%) of the votes cast. In that case, the election for that position shall be considered complete. (c) If the runoff election fails to result in a nominee with more than fifty percent (50%) of the vote, the nominee with the most votes 5 will be placed before the Commission's Board of Directors for approval. (d) If the nominee receives more than fifty percent (50%) of the votes cast, the nominee shall be elected and the election for that position shall be considered complete. (e) If the nominee placed before the Commission's Board of Directors fails to obtain more than fifty percent (50%) of the votes cast, the process for electing a person to the desired position shall begin again from Paragraph 1, above (f) If there is a tie in any step in the election process and the next step of the process cannot proceed, then one or more tie -breaking votes will occur in which all members of the Commission's Board of Directors present at the meeting will be allowed to vote again. The winning nominee must receive more than fifty percent (50%) of the votes cast to be elected. At any point the Commission may vote to suspend the vote until a subsequent meeting. If the Chair has been selected prior to the vote to suspend, the new Chair shall be seated when his or her term commences, but shall relinquish his or her seat as the Vice Chair if applicable. If the Chair and Vice Chair have been selected prior to the vote to suspend, the new Vice Chair shall also seated when his or her term commences, but shall relinquish his or he seat as Second Vice Chair, if applicable. The tally of all votes taken by-w-ritt-en-ballot hereunder shall be read aloud by the Clerk of the Board immediately following the vote. The written ballots whether physical or digital shall be retained by the Clerk of the Board as part of the public record of the meeting. 6 The Chair, the Vice Chair, and the Second Vice Chair shall regularly alternate between regular members of the Commission representing a city and a regular member of the Commission who is a member of the Riverside County Board of Supervisors. At all times, at least one of three officer slots - Chair, Vice Chair, or Second Vice Chair - shall be held by a member of the Riverside County Board of Supervisors. During the time in which the Chair is a regular member of the Commission representing a city, either the Vice Chair or the Second Vice Chair, or both, shall be a regular member of the Commission who is a member of the Riverside County Board of Supervisors. During the time in which the Chair is a regular Commission member who is a member of the Riverside County Board of Supervisors, either the Vice Chair or the Second Vice Chair, or both, shall be a regular member of the Commission representing a city in order to ensure the participation of both city and county representatives in leadership positions. C. E REMOVAL OF OFFICERS. The Chair, the Vice Chair and the Second Vice Chair may be removed by the affirmative vote of a majority of the Commission. Voting on removal shall take place no sooner than at the next regular meeting following the meeting at which the motion to remove officers was introduced. D. DUTIES OF VARIOUS OFFICERS. 1. Duties of Chair. The Chair shall, if present, preside at all meetings of the Commission and shall exercise and perform such other powers and duties as may be from time to time assigned to him or her by the Commission or prescribed herein or by other official action of the Commission. In any case in which the execution of a document or the performance of an act is directed, the Chair, unless the act of the Commission otherwise provides, is empowered to execute such document or perform such act. At the beginning of the calendar year, the Chair shall make 7 appointments to standing committees, ad hoc committees and outside agencies that require the representation of RCTC by a Commissioner. Appointment terms are of a one-year duration and removal of a Commissioner from a committee assignment prior to the end of the one-year term requires approval of the Executive Committee. 2. Duties of the Vice Chair. The Vice Chair shall perform the duties of the Chair in his or her absence. When so acting, the Vice Chair shall have all the powers of and be subject to all the restrictions upon, the Chair. 3. Duties of Second Vice Chair. The Second Vice Chair shall perform the duties of the Chair in the absence of the Chair and the Vice Chair. When so acting, the Second Vice Chair shall have all the powers of and be subject to all the restrictions upon the Chair. 4. Chair Pro Tempore. In the event of the absence or inability to act of the Chair, Vice Chair, or Second Vice Chair, the Commission, by motion passed by majority vote, shall select one of its members to act as Chair Pro Tempore, who, while so acting, shall have all of the authority of the Chair. 5. Duties of Executive Director. The Executive Director shall be a full-time officer of the Commission. The appointment and employment of the Executive Director shall be overseen by the Executive Committee pursuant to Section III.G.3.(a}, below. The powers and duties of the Executive Director are: (a) To administer the personnel system, including contract employees of the Commission. (b) To administer all contracts. (c) To cause to be prepared by a Certified Public Accountant and to submit to the Commission as soon as practical after the end of 8 each fiscal year a post -audit of the financial transactions and records of the Commission for the preceding year. (d) To keep the Commission advised as to the needs of the Commission. (e) To have full charge of the administration of the business affairs of the Commission. (f) To see that all ordinances, rules and regulations, motions, or resolutions are enforced. (g) To provide for the secretarial services required by the Commission including keeping a book of minutes of all meetings of the Commission, giving notice of all meetings as may be required by law or action of the Commission, and such other duties as may be prescribed by ordinance or resolution of the Commission. (h) The Executive Director is authorized to take any or all of the following actions in relation to regular employees of the Commission: (1) To hire employees at the appropriate salary range as determined by the Commission. (2) To promote, transfer, suspend with or without pay, or discharge any employee. (3) To notify the Commission of such actions at appropriate intervals. (i) The Executive Director is authorized to make disbursements of funds of the Commission consistent with the annual budget of the Commission. He or she shall have such other duties, powers and responsibilities as may from time to time be assigned by 9 the Commission. The compensation of the Executive Director shall be pursuant to written contract with the Commission. (j) The Executive Director, or his or her designee, has the discretionary authority of approval overall project designs or plans for construction and the construction of all projects by the Commission as set forth herein, unless the Commission finds otherwise. 6. Duties of General Counsel. The General Counsel shall be a person admitted to practice law by the Supreme Court of California or a firm comprised of same, and shall have been actively engaged in the practice of law for not less than five years preceding appointment. The General Counsel shall represent and advise the Commission in all legal matters, actions, or proceedings in which the Commission is concerned, or interested, or is a party. 7. Duties of Chief FinancialFiscal Officer. The Chief FinancialFiscal Officer, under the general direction of the Executive Director, shall be the custodian of funds received from the Commission from whatever source. The Chief FinancialFiscal Officer shall act- as and hold the title of treasurer of the Commission for purposes of Government Code section 53630, et. seq., and any similar statutory provisions that refer to the treasurer of a local agency. The Fiscal Officer shall act as and hold the title of auditor/controller of the Commission for purposes of debt issuance. The Fiscal Officer shall be a full-time employee of the Commission and shall: (a) Receive and receipt for all money of the Commission and place it in the Commission treasury. (b) Draw warrants to pay demands against the Commission when the demands have been duly and regularly signed by the Executive Director. 10 (c) Prepare or cause to be prepared a report in writing on a quarterly basis each year to the Commission detailing investments held, and a summary of budget to actuals since the last report. (d) Keep a full and complete record of all financial transactions and records of the Commission. He or she shall have such other duties and responsibilities as may from time to time be assigned to the Fiscal Officer by the Commission. E. EMPLOYEES. All employees other than independent contractors, shall be subject to the control and supervision of the Executive Director. Compensation of employees shall be as provided for from time to time by the Commission and/or the Executive Committee. F. APPOINTMENT OF ADVISORY COMMITTEES. 1. Social Services Transportation Advisory Council/Citizens' Advisofy—GenimitteeCitizens and Specialized Transit Advisory Committee ('CSTAC"). (a) Membership. There is hereby created the Social Services Transportation Advisory Council Citizens and Specialized Transit Advisory Committee ("CSTAC"). This committee shall serve as the Social Services Transportation Advisory Council as required by Public Utilities Codc ("PUC") Section 99238. This committee shall also eerveand as the Citizens' Advisory Committee pursuant to PUC Section 130105. The Social Services Transportation Advisory Council and the Citizens' Advisory Committee shall hereinafter be referred to collectively as the "Committee." The Committee CSTAC shall consist of up to fifteen (15) members appointed by the Commission, in the 11 manner provided by the Commission. Pursuant to PUC Section 99238, the CSTACommittcc shall include the following members: (1) One (1) representative of potential transit users who is 60 years of age or older; (2) One (1) representative of potential transit users who is handicappcddisabled; (3) Two (2) representatives of the local social service providers for seniors, including one representative of a social service transportation provider, if one exists; (4) Two (2) representatives of local social service providers for the handicappcddisabled, including one representative of a social service transportation provider, if one exists; (5) One (1) representative of a local social service provider or persons of limited means; and (6) Two (2) representatives from the local consolidated transportation service agency designated pursuant to subdivision (a) of Section 15975 of the Government Code, if on exists, including one representative from an operator, if one exists. All members of the Committcc CSTAC shall be selected so as to reflect a broad spectrum of interests and the Commission shall strive to attain both minority representation and representation from all geographic areas of the County. Committcc CSTAC members shall serve at the will and pleasure of their nominating authority and the Commission.. The Commission has the discretion to dismiss any CSTAC members for any reason, including if the individual fails to 12 participate in two (2) consecutive CSTAC meetings. The Commission shall appoint and renew individuals to the CSTAC for three (3) year terms. (b) Function. Subject to the supervision of the Commission, the Committcc CSTAC shall also consult on and obtain and collect public input on those matters of interest and concern to the Commission that may from time to time be assigned to the Committcc CSTAC by the Commission for its review, comments and recommendation. (c) Meeting. The Commission shall call the first meeting and may call subsequent meetings of the CommitteeCSTAC, setting the time and place of said meetings) and designating the agenda from any meetings so called. The Chair of the CommittcoCSTAC, elected pursuant to this Section G.(1)(f) below, may also call meetings of the CSTACemmittee, setting the time, place, and agenda for such meetings. The CSTACommittcc may also hold subcommittee meetings of any subcommittees it establishes. (d) Assistance. The staff of the Commission shall be available to aid the Committcc CSTAC in its work. (e) Compensation. Members of the Committcc CSTAC shall serve without compensation. (f) Officers. The Committcc CSTAC shall elect a Chair and Vice Chair from the members thereof, each of whom shall serve for one (1) year, and thereafter until his or her successor is elected. Secretarial services shall be provided by the Commission staff. 2. Technical Advisory Committee. 13 (a) Membership. There is hereby created the Technical Advisory Committee. The Committee shall consist of members selected as follows: (1) One (1) member representing the County of Riverside. (2) One (1) member representing each City in the County which designates such a representative. (3) One (1) member representing the Riverside Transit Agency. (4) One (1) member representing the Western Riverside Council of Governments. (5) One (1) member representing the Coachella Valley Association of Governments. (6) The District Director of Caltrans District 8 or designee. (7) One (1) member representing the SunLine Transit Agency. (8) One (1) member representing the Palo Verde Valley Transit Agency. Committee members shall serve at the will and pleasure of their appointing authority and the Commission. An alternate may be named by each appointee to represent him or her in his or her absence. (b) Function. Subject to the supervision of the Commission, the Committee shall provide technical assistance to the Commission by reviewing and evaluating the various transportation proposals and alternatives within Riverside County. The Committee shall review, comment upon, and make recommendations on such matters as are 14 referred to it by the Commission, including all matters relating to the programming of federal funds apportioned to the Riverside County and allocated by the Commission. (c) Meetings. In the dispatch of its responsibilities, the Committee may conduct meetings, may appoint subcommittees to include regular members and/or alternate members, and engage in such related activities as it deems necessary. Subcommittees shall not be composed of a regular and alternate member who represents the same jurisdiction. (d) Compensation. Members of the Committee shall serve without compensation. (e) Officers. The Committee shall elect a Chair and Vice Chair from the members thereof, each of whom shall serve for two (2) years and thereafter until his or her successor is elected. Committee support shall be provided by the Commission staff. (f) Voting. Each member of the Committee shall have one (1) vote, except the county of Riverside member shall have three (3) votes and the Transportation Planning Director of the Southern California Association of Governments shall be a non -voting member. (g) Quorum. A quorum shall be a majority of the voting members. All actions of the Committee shall require a majority of the votes cast. 3. Other Advisory Committees. (a) Standing Committees. The Commission may appoint such other standing committees as it deems necessary. The Commission shall determine the membership of such committees from among the regular members of the Commission, and shall 15 specify the functions, duties, responsibilities, and terms of service. The Commission shall give due consideration to recommendations, advice or proposals received from Advisory Committees but shall not be bound thereby. (b) Ad Hoc Committees and Representative Appointments. The Chair may create and appoint ad hoc committees as necessary to provide direction and advice to the Chair, Commissioners or Commission staff. In addition, the Chair shall appoint Commission representatives to the Southern California Regional Rail Authority, the Route 91 Advisory Committee, the MSRC, and other agencies or organizations of which the Commission is a member or party. Ad hoc committee members and representatives shall be appointed from among the regular Commission members. G. COMMITTEES OF THE COMMISSION. 1. The following Committees of the Commission are hereby created: (a) The Budget and Implementation Committee. This Committee shall be composed of up to fifteen (15) regular members of the Commission selected by the Chair, with at least nine (9) members being Western Riverside County regular members of the Commission and at least four (4) members being Eastern Riverside County regular members of the Commission. For the purposes of this subsection (a), the Fifth District Supervisor shall be considered a Western Riverside County member. Subject to supervision by the Commission, the jurisdiction of the Committee shall be as follows: annual budget development and oversight, competitive state and federal grant programs, countywide communications and outreach programs, 16 countywide strategic plan, legislation, short range transit plans (SRTP), and other areas as may be prescribed by the Commission. Meetings shall be held at 9:30 a.m. on the fourth Monday of the month of thcwith its principal location at the offices of the Commission, unless otherwise determined by the Committee or the Commission. During a declared state of emergency the meeting may be held at another location, including virtually, as authorized by law or executive order. At any regular meeting not yet convened because of the lack of a quorum, the committee members who are present may constitute themselves a "Committee of the Whole", for purposes of discussing agenda matters or any other matter of interest to the members present. The Committee of the Whole may act to take recommendations to the Commission but may take no final actions. Any recommendation presented to the Commission from a Committee of the Whole and not the whole committee and should state the number of votes for, against and abstaining in reference to the recommendation. The Committee shall automatically cease to exist if a quorum of the Commission is present at the meeting. (b) Western Riverside County Programs and Projects Committee. The Western Riverside County Programs and Projects Committee shall be composed of up to twelve (12) Western Riverside County regular members of the Commission selected by the Chair. Subject to supervision by the Commission, the jurisdiction of the Committee shall be to provide policy direction on transportation programs and projects that impact Western Riverside County. The subject matter may include, but is not limited to: air quality, capital projects, communications and outreach programs, specific 17 transit projects, intermodal programs, motorist services, new corridors, regional agencies/regional planning, Regional Transportation Improvement Program (RTIP), State Transportation Improvement Program (STIP), and Transportation Uniform Mitigation Fee (TUMF) Program related to Western Riverside County, and other areas as may be prescribed by the Commission. Meetings shall be held at 1:30 p.m. on the fourth Monday of the month with its principal location at the offices of the Commission unless otherwise directed by the Committee or the Commission. During a declared state of emergency the meeting may be held at another location, including virtually, as authorized by law or executive order. At any regular meeting not yet convened because of the lack of a quorum, the committee members who are present may constitute themselves a "Committee of the Whole," for purposes of discussing agenda matters or any other matter of interest to the members present. The Committee of the Whole may act to take recommendations to the Commission but may take no final actions. Any recommendation presented to the Commission from a Committee of the Whole and not the whole committee should state the number of votes for, against and abstaining in reference to the recommendation. The Committee shall automatically cease to exist if a quorum of the Commission is present at the meeting. (c) Toll Policy and Operations Committee. The Toll Policy and Operations Committee shall be composed of up to eleven (11) regular members of the Commission selected by the Chair. Subject to supervision by the Commission, the jurisdiction of the Committee shall be as follows: policies involving the Commission's toll facilities, setting tolls or rates, considering contracts with vendors working on the toll program, statewide and federal legislative issues regarding 18 tolling, outreach and marketing of the toll facilities, interactions with neighboring jurisdictions regarding toll matters, user -based funding programs and future opportunities for toll facility development in Riverside County. Meetings shall be held at 11:00 a.m. on the fourth Thursday of Fcbruary, May, August and Novcmbcras needed with its principal location at the offices of the Commission, unless otherwise determined by the Committee or the Commission. During a declared state of emergency the meeting may be held at another location, including virtually, as authorized by law or executive order. At any regular meeting not yet convened because of the lack of a quorum, the committee members who are present may constitute themselves a "Committee of the Whole", for purposes of discussing agenda matters or any other matter of interest to the members present. The Committee of the Whole may act to take recommendations to the Commission but may take no final actions. Any recommendation presented to the Commission from a Committee of the Whole and not the whole committee and should state the number of votes for, against and abstaining in reference to the recommendation. The Committee shall automatically cease to exist if a quorum of the Commission is present at the meeting. Formatted: I ndent: Left: 0" 2. In the performance of their duties and responsibilities, the Committees in subsection 1 above shall submit all policy matters coming before them to the Commission for final consideration. 19 49 3. Executive Committee. (a) Exccutivc Committee. There shall be created an. Executive Committee. Subject to supervision by the Commission, the Executive Committee shall oversee staff functions; recommend staff positions, job descriptions and salaries; appoint, contract with and determine the compensation of the Executive Director; discipline, review and terminate the Commission's Executive Director; and oversee administration of the Commission's office. Decisions of the Committee shall be final unless a member of the Commission, within five (5) days of the date of the decision, requests that the decision be placed on the agenda of the next regular Commission meeting for reconsideration. Meetings of the Committee shall be held at 9:00 a.m. on the day of the Commission meeting or as otherwise required and at a place and time to be set by the Executive Committee, unless otherwise directed by the Commission. (b) The membership of the Executive Committee shall be as follows: (1) The Chair of the Commission. (2) The Vice Chair of the Commission. (3) The Second Vice Chair of the Commission. (4) The Past Chair of the Commission. (5) Two regular members of the Commission representing the cities of Corona, Jurupa Valley, Moreno Valley, Menifee, Murrieta, Riverside, and Temecula. (6) A regular member of the Commission representing one of the following cities: Banning, Beaumont, Calimesa, Canyon Lake, Eastvale, Hemet, Lake Elsinore, Norco, Perris, San 20 Formatted: Indent: Left: 1", First line: 0.5" Jacinto, and Wildomar. Such member shall be appointed by majority vote of the members representing the cities referenced in the previous sentence. (7) A regular member of the Commission representing the following cities: Blythe, Cathedral City, Coachella, Desert Hot Springs, Indian Wells, Indio, La Quinta, Palm Desert, Palm Springs and Rancho Mirage. Such member shall be appointed by a majority vote of the members representing the cities referenced in the previous sentence. (8) Three members of the Commission who are members of the Riverside County Board of Supervisors. Such members shall be appointed by the Board of Supervisors. (c) Actions of the Executive Committee shall require six (6) affirmatives "yes" votes. (d) The term of the Executive Committee members, other than the Chair, and Vice Chair and the Second Vice Chair shall be two (2) years. At the end of their two-year term, Executive Committee members shall stand for reappointment as set forth in Section G.3(b). (e) A member of the Executive Committee may be removed by majority vote of the Commission members responsible for his or her appointment. In the event of a vacancy in the Executive Committee, the vacancy shall be filled as set forth in Section G.3(b) above. The new member shall fill out the remainder of the term. (f) An alternate member of the Commission, as appointed in Article II.C.2, shall not assume the duties of the regular member on the Executive Committee when the regular member is absent. In addition, should a member of the Executive Committee resign or otherwise leave the 21 Commission, the vacancy shall be filled as set forth in Section G.3(b), above. The new member shall serve the remainder of the unexpired term. (g) Amendments to this Administrative Code may be approved by the Executive Committee, subject to review by the Commission as set forth in Section G.3(a) above. 4. The Commission's Committees are authorized to establish rules of procedure relating to the activities and functions of the respective Committee, including the creation of subcommittees of committee members. 5. Appointments made by the Chair shall be for a one-year term ending on December 31 of the year in which the appointments are made. In the event the Chair wishes to remove a Commissioner ("Appointee") appointed during the term of the appointment, the following steps shall be taken: (a) The Chair shall provide Appointee with written notice of the Chair's decision to remove the Appointee from the appointment. (b) The notice shall be provided in writing to the Appointee through the Commission's Clerk of the Board and shall include a brief statement of why removal is sought, which reason may include, without limitation, three or more consecutive absences of committee meetings. The notice shall be delivered to the email address, if any, provided by Appointee as well as by first class mail to the Clerk of the City/County appointing Appointee to the Commission and the Appointee's mailing address. (c) The removal shall be effective on the 15th day after the Commission's Clerk of the Board sends notice to Appointee unless Appointee provides notice to the Commission's Clerk of the Board, prior to the expiration of such 15 day period, of his or her desire to contest the removal. 22 (d) In the event that the removal is contested, the removal shall be stayed and the Executive Director shall schedule an Executive Committee meeting at which both the Chair and Appointee may present their arguments for and against removal. Based thereon, the Executive Committee shall either uphold or reject the removal. The decision of the Executive Committee shall be final. (e) If the removal is not contested or approved by the Executive Committee, the Chair may appoint a Commission member to fill the remainder of the Appointee's term. (f) This Section G.5 shall only apply to appointments made by the Chair to 1) the Budget and Implementation Committee as defined under SectionG.1(a); 2) the Western Riverside County Programs and Projects Committee as defined under Section G.1(b)(1); the Toll Policy and Operations Committee as defined under Section G.1(c) and 3) Representative Appointments as defined under Section .F.3(b). ARTICLE IV MEETINGS A. AGENDA. Matters to be placed on the Agenda for any regular meeting may be filed with the Executive Director of the Commission by any member of the Commission by the Thursday before such regular meeting. The Agenda for each regular meeting shall be prepared under the direction of the Executive Director. The Executive Director shall cause copies of the Agenda to be mailed or delivered to each regular and alternate member and the General Counsel at least three (3) working days prior to the regular meeting date. 23 B. REGULAR MEETING. Regular meetings of the Commission shall be held with its principal location at 4080 Lemon Street, Riverside, California in the Board of Supervisors Chambers or at such other location set in public meeting by the Commission on the second Wednesday of each month at 9:30 a.m. unless such day is a holiday, in which case the meeting shall be held on the next business day. During a declared state of emergency the meeting may be held at another location, including virtually, as authorized by law or executive order. Regular meetings may be canceled by majority vote of the Commission at a regular or special meeting prior to the meeting to be canceled. A regular meeting may also be canceled by the Chair for lack of a quorum. The Executive Director shall endeavor to mail or deliver notice of such cancellation to each regular member and alternate member at least twenty-four (24) hours prior to the time of the meeting. C. SPECIAL MEETINGS. A special meeting of the Commission may be called at any time by the Chair, or in his or her absence by the Vice Chair or in the absence of the Chair and the Vice Chair by the Second Vice Chair, or by any sixteen (16) regular members by delivering personally or by mail written notice to the Executive Director and each regular and alternate member. Such notice shall be so delivered at least twenty-four (24) hours before the time of such meeting as specified in the notice. The call and notice shall specify the time and place of the special meeting and the business to be transacted. No other business shall be transacted at such meeting. Such written notice may be dispensed with as to any member who at or prior to the time the meeting convenes files with the Executive Director a written waiver of notice. Such waiver may be given by telegram or fax. Such written notice may also be dispensed with as to any regular or alternate member who is actually present at the meeting at the time it convenes. The meeting shall be posted as provided by law. 24 D. POSTING OF AGENDAS. The Commission shall post agendas of all regular meetings, containing a brief general description of each item of business to be transacted or discussed at the meeting, at least seventy-two (72) hours before such regular meeting. The agenda shall specify the time and location of the meeting and shall be posted in a location freely accessible to members of the public and at such other locations as required by law. No action shall be taken on any item not appearing on such posted agendas, except as permitted by state law. E. QUORUM AND VOTING REQUIREMENTS. Seventeen (17) members of the Commission shall constitute a quorum for the transaction of business. Unless otherwise required by law or this Administrative Code, all official acts of the Commission shall require the affirmative vote of a majority of the members of the Commission voting on the matter. F. WEIGHTED VOTING. Notwithstanding subdivision E above, any member of the Commission, immediately after a vote of the Commission in accordance with subdivision E, may call for a weighted vote. For an item to be passed by weighted vote, all of the following requirements shall be met: (a) The item shall be approved by a majority of the Commission members present at the meeting who represent the Riverside County Board of Supervisors, who each shall have one vote. (b) The item shall be approved by a majority of the Commission members present at the meeting who represent the cities in Riverside County, who each shall have one vote. (c) The item shall be approved by Commission members present at the meeting who represent cities in Riverside County representing a majority of the population of the county living in incorporated areas. For the purpose of this subdivision, each regular commission member at the meeting who represents a city in Riverside County shall be assigned votes based on the percentage of the 25 population of incorporated areas of Riverside County represented by that member in relation to the total population of incorporated areas of Riverside County represented by that member in relation to the total population of incorporated areas of Riverside County represented at the meeting. Population data shall be determined through Department of Finance estimates, adjusted annually on January 1 or as soon thereafter as possible. The population represented by members not voting because of a legal conflict of interest shall not be counted for any purpose in a weighted vote. The provisions of this section shall not apply the election of the Chair, Vice Chair, or Second Vice Chair as defined under Article III.B. G. RALPH M. BROWN ACT. All meetings of the Commission shall be called, noticed, and conducted in the manner prescribed by the Ralph M. Brown Act (Chapter 9, commencing with Section 54950, Part I, Division 2, Title 5 of the Government Code). H. ADDRESSING COMMISSION ON AGENDA ITEMS. No person shall address the Commission at any meeting until he or she has first been recognized by the Chair. The decision of the Chair to recognize a person may be changed by vote of a majority of the members of the Commission present at the meeting. Persons wishing to address the Commission shall fill out a speaker card and provide it to the Clerk of the Board prior to the start of the agenda item upon which he or she wishes to be heard, unless another method is specified by the Chair. The Chair may, in his or her discretion, direct the Clerk to accept speaker cards filed after the start of the agenda item. Except as set forth below, when addressing the Commission, each individual speaker will be limited to three continuous minutes or less of public testimony. The Commission may, either at the direction of the Chair or by a majority vote of the Commission, waive this three minute time limitation. Depending on the number of items on the Agenda and the number of speaker cards, 26 the Chair may, in his or her discretion, reduce the time for each individual speaker to two continuous minutes. In addition, the maximum time for public comment for any individual item or topic is thirty (30) minutes, unless extended by the Chair or majority vote of the Board. Speakers may not yield their time to others without the consent of the Chair. The Commission may terminate public comments if such comments become repetitious. I. COMMITTEE OF THE WHOLE. At any regular meeting not yet convened because of the lack of a quorum, the regular members, and alternates acting in the place of a regular member, who are present, may constitute themselves a "Committee of the Whole", for the purposes of discussing agenda matters or any other matter of interest to the members present. The Committee shall automatically cease to exist if a quorum of the Commission is present at the meeting. ARTICLE V CORPORATE POWERS A. SUCCESSION. The Commission has perpetual succession and may adopt a seal and alter it at its pleasure. B. LITIGATION. The Commission may sue and be sued, except as otherwise provided by law, in all actions and proceedings, in all courts and tribunals of competent jurisdiction. C. CLAIMS. All claims for money or damages against the Commission are governed by Division 3.6 (commencing with Section 810) of Title 1 of the Government Code except as provided therein, or by other statutes or regulations expressly applicable thereto. D. MOTIONS, REGULATIONS AND ORDINANCES. The acts of the Commission shall be expressed by motion, resolution, or ordinance. All ordinances 27 shall take effect upon their adoption unless otherwise provided for by the Commission. The enacting clause of all ordinances shall be as follows: "The Riverside County Transportation Commission hereby ordains as follows:" All ordinances shall be signed by the Chair or by the Vice Chair of the Commission. E. MISCELLANEOUS. The Commission shall have the power and authority to do any and all things necessary to carry out the purposes of Division 12 (commencing with Section 130000) and Division 25 (commencing with Section 240000) of the Public Utilities Code and other applicable law. ARTICLE VI CONTRACTS The Commission may make contracts and enter into stipulations of any nature whatsoever either in connection with eminent domain proceedings or otherwise, including but not limited to, contracts and stipulations to indemnify and save harmless, to employ labor, and to do all acts necessary and convenient for the full exercise of the powers authorized by law or by this Ordinance. The Commission may contract with any Department or Agency of the United States of America, with any public agency (including but not limited to, the Department of Transportation or any Transit District, County, or City), or with any person upon such terms and conditions as the Commission finds is in its best interest. ARTICLE VII BUDGET A. ANNUAL BUDGET. The Commission, after holding public hearings, shall annually, on or before June 15th of each year, adopt a budget for the succeeding Fiscal Year. B. PUBLIC HEARINGS. The Commission shall hold public hearings prior to the adoption of its budget. Notice of time and place of such hearings shall be 28 published pursuant to Section 6061 of the Government Code and shall be published no later than the 15th day prior to the date of the hearing. C. PUBLIC INSPECTION. The proposed annual budget shall be available for public inspection at least fifteen (15) days prior to the hearing. ARTICLE VIII AUDIT The Commission shall make, or cause to be made annually as soon as practical after the end of each Fiscal Year, a post -audit of the financial transactions and records of the Commission for the preceding year. Such post -audit shall be made by a Certified Public Accountant. ARTICLE IX GOVERNMENTTORT CLAIMS POLICY A. WRITTEN CLAIM (Gov. Codc § 945.4j' Formatted: Left, Indent: Left: 0" written claim to the Riverside County Transportation Commission (herein referred to as "RCTC") and allow it to act upon the claim.z (See . below for camps RCTC Claim Form.)The review, rejection, sufficiency and return of written claims shall be governed by the Government Claims Act (Division 3.6 (commencing with Section 810) of Title 1 of the Government Code) or as otherwise provided by law. B. The Executive Director or designee is authorized to review and reject claims submitted to RCTC. 916.6.) 29 59 C. The Executive Director may settle claims in the amount of $50,000 or less after consultation with the General Counsel. The Commission Board must approve all settlements on claims in excess of $50,000. SUFFICIENCY CONTENTS nF C AIWA (Go., Cod„ § 91n 91n 2) cl3imr s ^"—,-bc-p- cscnted by thc claimant or by a person acting on thc claimant's' behalf. Thc written claim must includc all of the following: {a) Thc name and postal addrcss of thc claimant. {b) Thc postal addrcss to which thc person prcscnting thc claim dcsircs notices' to bc scnt. (c) The cdia`�c, pia n d ..+her , stances of the occurrc�Tcc ortrairnrsaction which gavc risc to thc claim asscrtcd. (,d) A gc t of the in d„btcdness, obligatio d loss so far as it may bc known at thc time of prescntation of the claim; known, - (f) Thc amount claimcd, if it totals less than $10,000.00 as of thc date of thc presentation of thc claim, including thc estimated amount of any prospective thc claim, togcthcr with thc basis for computation of thc amount claimcd. If the thc claim, but it shall indicate whcthcr the claim would bc a limited civil casc. {g) Thc signature of thc claimant or his or her representative. 30 [Formatted: Left, Indent: Left: 0" Formatted: Indent: Left: 0" ( Formatted: Indent: Left: 0", First line: 0" 60 C. TIMELINESS (Gov. Codc § 911.2} 1. A claim rclating to a cause of action for death, injury to person, injury to ' personal property or growing crops must bc presented within six (6) months after thc accrual of thc cause of action. 2. A claim rclating to any other causc of action, such as damagc to r al property, must bc presented within one (1) year aftcr the accrual of thc causc of action. D. ACTION BY EXECUTIVE DIRECTOR OR DESIGNEE (Gov. Codc §§ 912.6, 935.4) Thc Clcrk of thc Board shall present claims rcccivcd by thc Commission to the Exccutivc Dircctor or dcsigncc. Thc Exccutivc Director or dcsigncc shall review 1. If the Exccutivc Dircctor determines that the claim is for a dcbt or liability Dircctor or dcsigncc. 2. If thc Exccutivc Dircctor determines that thc claim is for a dcbt or liability which may bc thc responsibility of RCTC, thc Exccutivc Dircctor or dcsigncc shall prcscnt thc claim to thc Commission's Board for considcration. 3. Thc Exccutivc Dircctor shall prcscnt all claims for physical personal injury for which thc claimant is likely to scck payment in excess of $100,000 or wrongful death to thc Commission Board for considcration. 31 Formatted: Left, Indent: Left: 0", First line: 0" Formatted: Indent: Left: 0", First line: 0" [ Formatted: Left, Indent: Left: 0" Formatted: Left, Indent: Left: 0", First line: 0" [ Formatted: Indent: Left: 0", First line: 0" 61 E. WRITTEN REJECTIONS (Gov. Codc 55 912.4(a), 913, 945.6(a)(1)) If a claim is rcjcctcd in writing within 45 days of prescntation, thc claimant has six' {6) mon s f -Fe *" mow ittcn noticc of rcjcction is personally delivered or mailed in which to file suit. The claimant and RCTC may extend by written ag-reer" ^* the ^ od • #h;,; wh-ieh RCTC must act on thc claim. (Scc pagc 6, bclow, for Samplc Rejection on thc Merits Lcttcr.) F. REJECTION BY OPERATION OF LAW (Gov. Code 55 912.4 (c), 945.6(a)(2)) ' If a claim is not rcjcctcd in writing within 45 days of prcscntation, thc claim is dccmcd rejected by operation of law on thc 46th day. Noticc of thc rcjcction of G. INSUFFICIENT CLAIMS (Gov. Codc 55 910.8, 911, 915.4) Thc Executive Director or designee has thc right to return insufficient claims by providing notice in accordance with Gov. Code section 915.4. If a claim does not comply with Govcrnmcnt Codc sections 910 and 910.2, the claim is legally insufficient. If an insufficient claim is presented to RCTC, then RCTC shall tify the ^I^ nt .,ti -n . ,i h 2nd of preS.e. + io1 that he claim is insufficicnt and statc with particularity thc defects or omissions in the claim. Thc Commission Board may not takc action on thc claim for a period of 15 days aftcr such noticc is givcn. If such noticc of insufficicncy is not givcn, RCTC result whcn thc claim as presented fails to statc cithcr an addrcss to which thc person presenting thc claim desires notices to be scnt or thc addrcss of the claimant. (Sce pagc 7, below, for Samplc Letter rc Insufficient Claim Form.) 32 [ Formatted: Left, Indent: Left: 0" Formatted: Indent: Left: 0", First line: 0" Formatted: Left, Indent: Left: 0" Formatted: Left, Indent: Left: 0" 62 11. LATE CLAIMS (Coy. Codc §§ 911.4, 911.6, 911.8) 1. If a claim is not presented in a timcly manner pursuant to Gov. Codc section' 911.2 (6 month limitations filc an application to present a late claim. 2. The application: {a) Must bc prcscntcd within a r asonablc time not to cxcccd one (1) y r aftcr thc accrual of thc cause of action; {b) Must have thc written claim attachcd; and (c) n st stat . the son fo the del , in pre ^ t,hc claim. 3. Claims filcd late, if not accompanicd by an application for Icavc to filc a I -ate' claim, should bc rejected specifically because thcy arc late. (Scc page 8 for Samplc Lcttcr rc Untimely Claim Without Application For L avc To Prcscnt A Late Claim.) 4. In computing the one (1) y ar period for presentation of thc application, t'.. .-I, r ,,."'.,h + ., p ..he a-ined th ., „Iteg- d i I.,m r Ioss_is 1. ACCEPTANCE OF APPLICATION FOR LATE CLAIM (Gov. Codc § 911.6) The Executive Director or designee shall grant or dcny an application for acccptancc of latc claim within 45 days after it is prcscntcd. This period may may 33 l Formatted: Left [ Formatted: Left, Indent: Left: 0", First line: 0" Formatted: Indent: Left: 0", First line: 0" Formatted: Left, Indent: Left: 0", First line: 0" 63 review and grant or deny an application for late claim relief submitted pursuant to the Government Claims Act. T; xccutive Dircctor or designee shall grant thc application whcrc one or morc of thc following is applicablc: I ) C 'I to + th thr ' t-�a7�-i^ariure�o�Tereii� -irre Ei-�^arr"rr�.Po'��s�-�rirettg�r-rirstaEe i-n^crdvefteaE'c, sti-Fprise,—e-r-exe-u-s-ablc ncglcct and RCTC was not prcjudiccd in its defense of +h., claim h.. +h., faitufe ♦e p nt +h., +imely {b) Thc person who sustaincd thc allcgcd injury, damagc or loss was a minor during all of thc time period; or, {c) Thc person who sustaincd thc allcgcd injury, damage or loss was physically or mentally incapacitated during all of the time period; or, {d) Thc person who sustaincd thc allcgcd injury, damagc or loss died before thc expiration of the time period. I DENIAL OF ADDI ICATION FOR I ATE /'I AIM (Gov Code f,S 911 4 946 6) 1. Thc Executive Director or dcsignce may dcny thc application if it is not {6) months to take thc matter to court. Writtcn noticc of thc action on scction 915.4. Thc noticc shall contain a warning in substantially thc form as prcscribcd in Gov. Code scction 911.8. Thc denial of the application for late claim has nothing to do with thc validity of the 34 claim. It is not a rcjcction of the claim or its mcrits. It means only that the claim was not properly presented. K. CALIFORNIA LAW 1-D. This Tort Government Claims Policy is intended to reflect the requirements set forth in the California Tort Government Claims Act (Coy. Codc §§ 900 ct scqj. RCTC intcnds to periodically updatc this Policy, however, bBecause state law is amended from time to time, in the event any law cited herein is amended, modified, changed or omitted, then such law shall govern. 35 L. COMMISSION ACTION 1. This Tort Claims Policy provides the guidelines for RCTC in responding to a claim, however, a failure to follow this Policy shall not serve as a basis for invalidating an action taken by the Commission Board or the Executive Director on a particular claim. 36 IA c CLAIM -FORM NAME OF DISTRICT: Rivcrsidc County Transportation Commission 4 2 3 4 6 Namc: Addrcss(cs): Phonc Numbcr: List namc, address and phonc numbcr of any witnesses. Namc: Address: Phonc Numbcr: gave rise to thc claim as crted. Datc: Timc: Placc: Tell What Happened (give complete information): Givc a general dcscription of the indebtedness, obligation, injury, damagc or loss incurrcd co far as it may be known at thc time of presentation of thc claim. Civc the namc or namcs of thc public cmploycc or cmployccs causing thc injury, damagc, or loss, if known. If the actual amount of your claim is Icss than $10,000 indicate thc exact amount of your claim, and if possiblc show spccific itcmization and/or include copics of any documents in support thcrcof. If thc amount of thc claim cxcccds $10,000, no dollar amount should be included in this claim form; however, it is nece,sary to indicate whether jurisdiction will rcst in Municipal or Superior Court. (Jurisdiction for any claim under $25,000 would Datc: Signature: INSUFFICIENT, 37 THIS LETTER SHOULD BE TYPED ON RCTC LETTERHEAD AND USED TO NOTIFY A POTENTIAL CLAIMANT THAT HIS/HER CLAIM HAS BEEN REJECTED ON ITS MERITS, NOT BECAUSE THE CLAIM IS LATE, OR THAT THE CLAIM IS INSUFFICIENT IN CONTENTS. IF USED, THIS PRESENTATION OF THE CLAIM. (Enter date) Thank you for your recently submittcd claim in thc mattcr of thcrc is liability on our part. We havc rcvicwcd all of thc information submittcd to us rclating to your claim, and havc cndcavorcd to be absolutely fair in considcring your case. Your claim prcscntcd to thc Riverside County Transportation Commission on was rejected (or allowed in thc amount of $ and fejcctcd as to thc balance) on (datc of action or rejection by operation of law.) - WARNING Subject to ccrtain exceptions, you havc only six months from thc datc this notice was personally dclivcrcd or mailed to filc a court action on this claim. (Sce on this mattcr. If you plan to consult an attorncy, you should do so immcdiatcly. If you havc qucstions about thc claim or this denial of liability, p asc call the undcrsigncd. Vcry truly yours, Annc Maycr [or des-ig-ncc, such as Gcncral Counsel] Exccutivc Dircctor 39 {Enter date) D SAM.ol CzZ LEVER RE NS FFI IENT C AIM FORM AND USED TO NOTIFY POTENTIAL CLAIMANTS OF INSUFFICIENCIES IN CLAIMS FILED Re: Notice of Insufficicncy of Claim Filed with the Riverside County Transportation Commission ¥ ,,. el. i whi h , edb +hc Riverside County Transportation Commi, ion on (enter date) failed to comply substantially with the California t was insufficient for the following r ason(s): [Give reasons for insufficiency} For your information, you may wish to consult Scctions 910, 910.2, 910.4, 910.8 claims against a public cntity. Duc to spccific time requirements for corrccting those dcficicncics, this should be tended to immediately. Very truly yours, Annc Mayer [or dcsignc� ch r_ oral Counsel} Exccutivc Director 40 THIS LETTER SHOULD BE TYPED ON RCTC LETTERHEAD AND USED TO NOTIFY POTENTIAL CLAIMANTS WHO FILE LATE CLAIMS WITH NO ACCOMPANYING APPLICATION FOR LEAVE TO PRESENT A LATE CLAIM (Enter date Re: Response to your Latc Claim Filcd with thc Rivcrsidc County Transportation Commission The claim (or material) which you prcscntcd to the Rivcrsidc County Transportation Commission ("RCTC") on (Enter date) is being rcturncd to you herewith, without any action having bcen takcn by RCTC. The claim (or material) is being returned because it was not presented within the time rcquircd by law. (Sec California Government Code Sections 911.2 to 912.2 and 946.6.) Your only rccoursc at this timc is to filc a writtcn Application for Loavc to Prcscnt a Latc Claim as rcquircd by thc Government Codc. Aftcr thin Application has bccn rcccivcd by RCTC, it will be reviewed and considered. Due to legal time requirements, this should be donc without delay. To determine if you have a furthcr rcmcdy, or whcthcr othcr proccdurcs arc opcn to you, you may wish to consult with an attorncy of your choosing. If you consult with an attorncy, you should do so immediately. Vcry truly yours, Anne Maycr [or dcsigncc, such as Gcncral Counsel) Exccutivc Dircctor 41 PRESENT A LATE CLAIM THIS LETTER SHOULD BE TYPED ON RCTC LETTERHEAD AND USED TO DENY LATE CLAIMS PRESENTED WITHIN ONE YEAR OF ACCRUAL WITH AN ACCOMPANYING APPLICATION FOR LEAVE TO PRESENT A LATE CLAIM {Enter date) D Rc: Dcnial of Application for Leave to Prcscnt a Latc Claim to the Riverside County Transportation Commission Your Application for Leave to Prcscnt a Late Claim is denied by the Riverside County Transportation Commission as of (Enter date). WARNING If you wish to filc a court action on this matter, you must first pctition thc appropriate court for an order relieving you from thc provisions of California Covernment Codc Section 945.4. (Also see Government Code Section 946.6.) Such pctition must be filed with the court within six (6) months from thc datc your Application for L avc to Present a Late Claim was denied. You may seek the advice of an attorncy of your choosing in conncction with thin matter. If you consult an attorney, you should do so immediately. Very truly yours, Annc Mayer [or designee, such as General Counscll Executive Dircctor 42 PRESENT A LATE CLAIM THIS LETTER SHOULD BE TYPED ON RCTC LETTERHEAD AND USED TO REJECT LATE CLAIMS PRESENTED AFTER ONE YEAR FROM ACCRUAL WITH AN ACCOMPANYING APPLICATION FOR LEAVE TO PRESENT A LATE CLAIM (Enter date) - Re: Return of Application for L ave to Present Commission The Application for L ave to Present a Late Claim which you presented to the Riverside County Transportation Commission on (Enter date) is being rcturncd to you hcrcwith, without any action having been takcn on it by the Commission. The Application is being returned because it was not presented within the time required by law. To dctcrminc whcthcr you havc any furthcr rcmcdy, you may wish to consult with an attorncy of your choosing. If you consult an attorncy, you should do so immediately. Very truly yours, Annc Mayer [or designee, such as Gcncral Counsel] Exccutivc Dircctor 43 ARTICLE X PROCEDURES FOR DESIGN IMMUNITY A. EXECUTIVE DIRECTOR REVIEW AND APPROVAL. Prior to commencement of a construction project undertaken by the Commission, the Executive Director shall review and approve or disapprove the plans for such project in writing, or delegate such authority in writing to a competent employee of the Commission with the knowledge to discern whether the plans are reasonable or not. Neither the Executive Director nor his or her designee of review and approval authority shall be responsible for drafting such plans. B. DETERMINATION OF REASONABLENESS. The Executive Director or his or her designee of review and approval authority shall review the plans for a construction project undertaken by the Commission to determine whether such plans are reasonable or not. Evidence of reasonableness of such plans may be supported by approval of such plans by a competent professional; or if such plans have been prepared in conformity with a previously approved standard; or if such plans conform to established guidelines such as the Uniform Building Code or guidelines set forth by the California Department of Transportation or the American Association of State Highway and Transportation Officials. C. EXECUTION OF STATEMENT. Upon completion of the review of the plans, the Executive Director or his or her designee shall sign a statement in substantially the form set forth as follows: I have been granted the authority to review and approve the plans for the Project, and I am competent to do so. I have reviewed such plans, and I find them to be reasonable in my judgment as a reasonable employee and approve such plans. 44 ATTACHMENT 3 ORDINANCE NO. 22-001 AN ORDINANCE AMENDING THE RIVERSIDE COUNTY TRANSPORTATION COMMISSION ADMINISTRATIVE CODE WHEREAS, by Ordinance 93-003 the Riverside County Transportation Commission has enacted an Administrative Code; WHEREAS, the Commission has determined that it is now necessary to amend its Administrative Code to update the membership of the Executive Committee; amend dated language pertaining to the Citizens and Specialized Transit Advisory Committee, update the Commission's claims policy to align with current law and practice, and the correct typographical errors and make minor language edits; NOW, THEREFORE, the Riverside County Transportation Commission hereby ordains as follows: The Administrative Code is hereby amended as shown in Attachment "A." This Ordinance shall be effective upon adoption APPROVED AND ADOPTED this 14th day of December, 2022. V. Manuel Perez, Chair ATTEST: Lisa Mobley Clerk of the Board 75 76 ATTACHMENT A ADMINISTRATIVE CODE OF THE RIVERSIDE COUNTY TRANSPORTATION COMMISSION ARTICLE I PURPOSE The Riverside County Transportation Commission is charged with the responsibility of carrying out the purposes and directives of the Legislature as provided for in the County Transportation Commission Act (Division 12, commencing with Section 130000 of the Public Utilities Code). Section 130105 of the Public Utilities Code requires the Commission to adopt an administrative code by ordinance. ARTICLE II MEMBERSHIP A. POWERS OF COMMISSION. Subject to the powers and limitations as provided by law and these rules, all powers of the Commission shall be exercised, its property controlled and its affairs conducted by its Commission. B. REGULAR MEMBERS. The Commission shall consist of 34 regular members appointed as follows: 1. The five members of the Riverside County Board of Supervisors. 2. One member appointed by each of the member cities, which member shall be either a member of that city's City Council or its Mayor. 3. One non -voting member appointed by the Governor. 1 77 C. ALTERNATE MEMBERS. 1. The Riverside County Board of Supervisors shall establish a procedure by which a member of that board may appoint an alternate member of the Board of Supervisors to represent the member for one meeting of the Riverside County Transportation Commission. Notice of the alternate appointment shall be made in writing to the Clerk of the Board 24 hours prior to the meeting. 2. Each incorporated city in Riverside County shall appoint one alternate member to the Commission who shall represent the regular member of the Commission who serves on behalf of the city, if the regular member is not in attendance at a meeting. Notice of the alternate appointment shall be made in writing to the Clerk of the Board 24 hours prior to the meeting. If an incorporated city appoints an alternate member, the alternate member shall be either the mayor or a city council member of that incorporated city. D. VOTING RIGHTS. Except when a weighted vote is called, each regular member of the Commission, and each alternate member when acting in the place of a regular member, shall have one vote at meetings of the Commission. Except for the delegation of votes provided in Section C, above, there shall be no voting by proxy. E. VACANCIES. Any vacancy in the office of regular or alternate member, whether because of death, incapacity, resignation, loss of underlying office, removal or otherwise, shall be filled by the appointing authority for such member. F. RESIGNATION. Any regular or alternate member may resign at any time by giving written notice of such resignation to the Clerk of the Board. Such resignation shall be effective at the time specified; acceptance of such resignation shall not be necessary to make it effective. 2 78 G. REMOVAL. Any regular or alternate member may be removed, with or without cause stated, by the authority responsible for his or her appointment. H. COMPENSATION. Unless prohibited by law from accepting compensation, each regular and alternate member of the Commission shall be compensated at the rate of One Hundred Dollars ($100) for any day attending to the business of the Commission, but not to exceed Four Hundred Dollars ($400) in any month, along with necessary traveling and personal expenses incurred in the performance of his or her duties as authorized by the Commission. An alternate member may receive compensation only for attendance at a meeting where a regular member is absent for all or part of the meeting. For purposes of this section, "attending to the business of the Commission" means: 1. Attendance at meeting of the Commission. 2. Attendance at committee meetings of the Commission if attending as a member of such committee. 3. Attendance at activities and events for the purpose of representing the Commission when such attendance is formally requested by the Commission or the Chair of the Commission. 4. Attendance at project -related events, e.g., groundbreakings, ribbon cuttings, etc. for Commission -financed or sponsored projects. ARTICLE III ADMINISTRATION A. IN GENERAL. The Officers of the Commission shall consist of the Chair, a Vice Chair, and a Second Vice Chair, all of whom shall be regular members of the Commission, an Executive Director, a General Counsel, Fiscal Officer, and other such officers as the Commission may deem necessary. 3 79 B. ELECTION OF CHAIR, VICE CHAIR AND SECOND VICE CHAIR. The Commission annually, at its first meeting in December, and at such other times as there may be a vacancy in either office, shall elect a Chair who shall preside at all meetings, a Vice Chair who shall preside in the absence of the Chair, and a Second Vice Chair who shall preside in the absence of the Chair and the Vice Chair. The Chair, the Vice Chair, and the Second Vice Chair shall be elected by the Commission at its first meeting in December or as soon thereafter as practical for a one-year term. The changes will be effective on January 1. The election for each position is as follows: 1. At the start of the agenda item, Commission Board members may nominate one or more regular members to fill the positions of Chair, Vice Chair, and Second Vice Chair. Each nomination must be seconded in order to qualify that member for the election. Only those members nominated and seconded shall be part of the selection process set forth below. 2. If no objections are made, the nominations will be closed when the Chair makes a formal announcement closing the nomination period. 3. If only one nomination is received for a position, the Chair shall call on the Commission's Board of Director's to approve the nomination. If more than fifty (50%) percent of the votes cast approve that nominee, the nominee shall be elected and the election for that position shall be consider complete. If the nominee fails to obtain more than fifty percent (50%) of votes cast by the Board, the process for electing a member to the desired position shall begin again from paragraph 1. 4. If two nominations are received for a position, the Chair shall call for the Commission's Board of Director's to cast votes for one of the nominees. If one of the nominees receives more than fifty percent (50%) of 4 80 the votes cast, that nominee shall be elected and the election for that position shall be considered complete. If the election fails to result in a nominee with more than fifty percent (50%) of the vote, the nominee with the most votes will be placed before the Commission's Board of Directors for approval. The nominee must be approved by more than fifty percent (50%) of the votes cast by the Board in order to be elected to the desired position. If the nominee fails to obtain more than fifty percent (50%) of the Board's vote, the process for electing a person to the desired position shall begin again from paragraph 5. If there are more than two nominees, the following steps shall be followed in the order set forth below: (a) The Chair shall call for the Commission's Board of Directors to cast votes for one of the nominees. All nominees shall be voted on using a single written ballot. A "written" ballot can be either physical or digital. If one nominee receives more than fifty percent (50%) of the votes cast that nominee shall be elected and the election for that position shall be considered complete. If the vote fails to result in a nominee receiving more than fifty percent (50%) of the votes cast, the two nominees with the most votes will be placed in a runoff election. (b) The winning nominee in the runoff election is selected if that nominee receives more than fifty percent (50%) of the votes cast. In that case, the election for that position shall be considered complete. (c) If the runoff election fails to result in a nominee with more than fifty percent (50%) of the vote, the nominee with the most votes will be placed before the Commission's Board of Directors for approval. 5 81 (d) If the nominee receives more than fifty percent (50%) of the votes cast, the nominee shall be elected and the election for that position shall be considered complete. (e) If the nominee placed before the Commission's Board of Directors fails to obtain more than fifty percent (50%) of the votes cast, the process for electing a person to the desired position shall begin again from Paragraph 1, above (f) If there is a tie in any step in the election process and the next step of the process cannot proceed, then one or more tie -breaking votes will occur in which all members of the Commission's Board of Directors present at the meeting will be allowed to vote again. The winning nominee must receive more than fifty percent (50%) of the votes cast to be elected. At any point the Commission may vote to suspend the vote until a subsequent meeting. If the Chair has been selected prior to the vote to suspend, the new Chair shall be seated when his or her term commences, but shall relinquish his or her seat as the Vice Chair if applicable. If the Chair and Vice Chair have been selected prior to the vote to suspend, the new Vice Chair shall also seated when his or her term commences, but shall relinquish his or he seat as Second Vice Chair, if applicable. The tally of all votes taken hereunder shall be read aloud by the Clerk of the Board immediately following the vote. The written ballots whether physical or digital shall be retained by the Clerk of the Board as part of the public record of the meeting. The Chair, the Vice Chair, and the Second Vice Chair shall regularly alternate between regular members of the Commission representing a city and a regular member of the Commission who is a member of the Riverside County Board of 6 82 Supervisors. At all times, at least one of three officer slots - Chair, Vice Chair, or Second Vice Chair - shall be held by a member of the Riverside County Board of Supervisors. During the time in which the Chair is a regular member of the Commission representing a city, either the Vice Chair or the Second Vice Chair, or both, shall be a regular member of the Commission who is a member of the Riverside County Board of Supervisors. During the time in which the Chair is a regular Commission member who is a member of the Riverside County Board of Supervisors, either the Vice Chair or the Second Vice Chair, or both, shall be a regular member of the Commission representing a city in order to ensure the participation of both city and county representatives in leadership positions. C. REMOVAL OF OFFICERS. The Chair, the Vice Chair and the Second Vice Chair may be removed by the affirmative vote of a majority of the Commission. Voting on removal shall take place no sooner than at the next regular meeting following the meeting at which the motion to remove officers was introduced. D. DUTIES OF VARIOUS OFFICERS. 1. Duties of Chair. The Chair shall, if present, preside at all meetings of the Commission and shall exercise and perform such other powers and duties as may be from time to time assigned to him or her by the Commission or prescribed herein or by other official action of the Commission. In any case in which the execution of a document or the performance of an act is directed, the Chair, unless the act of the Commission otherwise provides, is empowered to execute such document or perform such act. At the beginning of the calendar year, the Chair shall make appointments to standing committees, ad hoc committees and outside agencies that require the representation of RCTC by a Commissioner. Appointment terms are of a one-year duration and removal of a 7 83 Commissioner from a committee assignment prior to the end of the one-year term requires approval of the Executive Committee. 2. Duties of the Vice Chair. The Vice Chair shall perform the duties of the Chair in his or her absence. When so acting, the Vice Chair shall have all the powers of and be subject to all the restrictions upon, the Chair. 3. Duties of Second Vice Chair. The Second Vice Chair shall perform the duties of the Chair in the absence of the Chair and the Vice Chair. When so acting, the Second Vice Chair shall have all the powers of and be subject to all the restrictions upon the Chair. 4. Chair Pro Tempore. In the event of the absence or inability to act of the Chair, Vice Chair, or Second Vice Chair, the Commission, by motion passed by majority vote, shall select one of its members to act as Chair Pro Tempore, who, while so acting, shall have all of the authority of the Chair. 5. Duties of Executive Director. The Executive Director shall be a full-time officer of the Commission. The appointment and employment of the Executive Director shall be overseen by the Executive Committee pursuant to Section III.G.3, below. The powers and duties of the Executive Director are: (a) To administer the personnel system, including contract employees of the Commission. (b) To administer all contracts. (c) To cause to be prepared by a Certified Public Accountant and to submit to the Commission as soon as practical after the end of each fiscal year a post -audit of the financial transactions and records of the Commission for the preceding year. (d) To keep the Commission advised as to the needs of the Commission. 8 84 (e) To have full charge of the administration of the business affairs of the Commission. (f) To see that all ordinances, rules and regulations, motions, or resolutions are enforced. (g) To provide for the secretarial services required by the Commission including keeping a book of minutes of all meetings of the Commission, giving notice of all meetings as may be required by law or action of the Commission, and such other duties as may be prescribed by ordinance or resolution of the Commission. (h) The Executive Director is authorized to take any or all of the following actions in relation to regular employees of the Commission: (1) To hire employees at the appropriate salary range as determined by the Commission. (2) To promote, transfer, suspend with or without pay, or discharge any employee. (3) To notify the Commission of such actions at appropriate intervals. (i) The Executive Director is authorized to make disbursements of funds of the Commission consistent with the annual budget of the Commission. He or she shall have such other duties, powers and responsibilities as may from time to time be assigned by the Commission. The compensation of the Executive Director shall be pursuant to written contract with the Commission. (j) The Executive Director, or his or her designee, has the discretionary authority of approval overall project designs or plans for 9 85 construction and the construction of all projects by the Commission as set forth herein, unless the Commission finds otherwise. 6. Duties of General Counsel. The General Counsel shall be a person admitted to practice law by the Supreme Court of California or a firm comprised of same, and shall have been actively engaged in the practice of law for not less than five years preceding appointment. The General Counsel shall represent and advise the Commission in all legal matters, actions, or proceedings in which the Commission is concerned, or interested, or is a party. 7. Duties of Chief Financial Officer. The Chief Financial Officer, under the general direction of the Executive Director, shall be the custodian of funds received from the Commission from whatever source. The Chief Financial Officer shall act as and hold the title of treasurer of the Commission for purposes of Government Code section 53630, et. seq., and any similar statutory provisions that refer to the treasurer of a local agency. The Fiscal Officer shall act as and hold the title of auditor/controller of the Commission for purposes of debt issuance. The Fiscal Officer shall be a full-time employee of the Commission and shall: (a) Receive and receipt for all money of the Commission and place it in the Commission treasury. (b) Draw warrants to pay demands against the Commission when the demands have been duly and regularly signed by the Executive Director. (c) Prepare or cause to be prepared a report in writing on a quarterly basis each year to the Commission detailing investments held, and a summary of budget to actuals since the last report. 10 86 (d) Keep a full and complete record of all financial transactions and records of the Commission. He or she shall have such other duties and responsibilities as may from time to time be assigned to the Fiscal Officer by the Commission. E. EMPLOYEES. All employees other than independent contractors, shall be subject to the control and supervision of the Executive Director. Compensation of employees shall be as provided for from time to time by the Commission and/or the Executive Committee. F. APPOINTMENT OF ADVISORY COMMITTEES. 1. Citizens and Specialized Transit Advisory Committee ('CSTAC"). (a) Membership. There is hereby created the Citizens and Specialized Transit Advisory Committee ("CSTAC"). This committee shall serve as the Social Services Transportation Advisory Council and as the Citizens' Advisory Committee pursuant to PUC Section 130105. The CSTAC shall consist of up to fifteen (15) members appointed by the Commission, in the manner provided by the Commission. Pursuant to PUC Section 99238, the CSTAC shall include the following members: (1) One (1) representative of potential transit users who is 60 years of age or older; (2) One (1) representative of potential transit users who is disabled; (3) Two (2) representatives of the local social service providers for seniors, including one representative of a social service transportation provider, if one exists; 11 87 (4) Two (2) representatives of local social service providers for the disabled, including one representative of a social service transportation provider, if one exists; (5) One (1) representative of a local social service provider or persons of limited means; and (6) Two (2) representatives from the local consolidated transportation service agency designated pursuant to subdivision (a) of Section 15975 of the Government Code, if on exists, including one representative from an operator, if one exists. All members of the CSTAC shall be selected so as to reflect a broad spectrum of interests and the Commission shall strive to attain both minority representation and representation from all geographic areas of the County. CSTAC members shall serve at the will and pleasure of their nominating authority. The Commission has the discretion to dismiss any CSTAC members for any reason, including if the individual fails to participate in two (2) consecutive CSTAC meetings. The Commission shall appoint and renew individuals to the CSTAC for three (3) year terms. (b) Function. Subject to the supervision of the Commission, the CSTAC shall also consult on and obtain and collect public input on those matters of interest and concern to the Commission that may from time to time be assigned to the CSTAC by the Commission for its review, comments and recommendation. (c) Meeting. The Commission shall call the first meeting and may call subsequent meetings of the CSTAC, setting the time and place of said meeting(s) and designating the agenda from any 12 88 meetings so called. The Chair of the CSTAC, elected pursuant to this Section G.(1)(f) below, may also call meetings of the CSTAC, setting the time, place, and agenda for such meetings. The CSTAC may also hold subcommittee meetings of any subcommittees it establishes. (d) Assistance. The staff of the Commission shall be available to aid the CSTAC in its work. (e) Compensation. Members of the CSTAC shall serve without compensation. (f) Officers. The CSTAC shall elect a Chair and Vice Chair from the members thereof, each of whom shall serve for one (1) year, and thereafter until his or her successor is elected. Secretarial services shall be provided by the Commission staff. 2. Technical Advisory Committee. (a) Membership. There is hereby created the Technical Advisory Committee. The Committee shall consist of members selected as follows: (1) One (1) member representing the County of Riverside. (2) One (1) member representing each City in the County which designates such a representative. (3) One (1) member representing the Riverside Transit Agency. (4) One (1) member representing the Western Riverside Council of Governments. (5) One (1) member representing the Coachella Valley Association of Governments. 13 89 (6) The District Director of Caltrans District 8 or designee. (7) One (1) member representing the SunLine Transit Agency. (8) One (1) member representing the Palo Verde Valley Transit Agency. Committee members shall serve at the will and pleasure of their appointing authority and the Commission. An alternate may be named by each appointee to represent him or her in his or her absence. (b) Function. Subject to the supervision of the Commission, the Committee shall provide technical assistance to the Commission by reviewing and evaluating the various transportation proposals and alternatives within Riverside County. The Committee shall review, comment upon, and make recommendations on such matters as are referred to it by the Commission, including all matters relating to the programming of federal funds apportioned to the Riverside County and allocated by the Commission. (c) Meetings. In the dispatch of its responsibilities, the Committee may conduct meetings, may appoint subcommittees to include regular members and/or alternate members, and engage in such related activities as it deems necessary. Subcommittees shall not be composed of a regular and alternate member who represents the same jurisdiction. (d) Compensation. Members of the Committee shall serve without compensation. (e) Officers. The Committee shall elect a Chair and Vice Chair from the members thereof, each of whom shall serve for two (2) years 14 90 and thereafter until his or her successor is elected. Committee support shall be provided by the Commission staff. (f) Voting. Each member of the Committee shall have one (1) vote, except the county of Riverside member shall have three (3) votes and the Transportation Planning Director of the Southern California Association of Governments shall be a non -voting member. (g) Quorum. A quorum shall be a majority of the voting members. All actions of the Committee shall require a majority of the votes cast. 3. Other Advisory Committees. (a) Standing Committees. The Commission may appoint such other standing committees as it deems necessary. The Commission shall determine the membership of such committees from among the regular members of the Commission, and shall specify the functions, duties, responsibilities, and terms of service. The Commission shall give due consideration to recommendations, advice or proposals received from Advisory Committees but shall not be bound thereby. (b) Ad Hoc Committees and Representative Appointments. The Chair may create and appoint ad hoc committees as necessary to provide direction and advice to the Chair, Commissioners or Commission staff. In addition, the Chair shall appoint Commission representatives to the Southern California Regional Rail Authority, the Route 91 Advisory Committee, the MSRC, and other agencies or organizations of which the Commission is a member or party. Ad hoc committee members and representatives shall be appointed from among the regular Commission members. 15 91 G. COMMITTEES OF THE COMMISSION. 1. The following Committees of the Commission are hereby created: (a) The Budget and Implementation Committee. This Committee shall be composed of up to fifteen (15) regular members of the Commission selected by the Chair, with at least nine (9) members being Western Riverside County regular members of the Commission and at least four (4) members being Eastern Riverside County regular members of the Commission. For the purposes of this subsection (a), the Fifth District Supervisor shall be considered a Western Riverside County member. Subject to supervision by the Commission, the jurisdiction of the Committee shall be as follows: annual budget development and oversight, competitive state and federal grant programs, countywide communications and outreach programs, countywide strategic plan, legislation, short range transit plans (SRTP), and other areas as may be prescribed by the Commission. Meetings shall be held at 9:30 a.m. on the fourth Monday of the month with its principal location at the offices of the Commission, unless otherwise determined by the Committee or the Commission. During a declared state of emergency the meeting may be held at another location, including virtually, as authorized by law or executive order. At any regular meeting not yet convened because of the lack of a quorum, the committee members who are present may constitute themselves a "Committee of the Whole", for purposes of discussing agenda matters or any other matter of interest to the members present. The Committee of the Whole may act to take recommendations to the Commission but may take no final actions. Any recommendation 16 92 presented to the Commission from a Committee of the Whole and not the whole committee and should state the number of votes for, against and abstaining in reference to the recommendation. The Committee shall automatically cease to exist if a quorum of the Commission is present at the meeting. (b) Western Riverside County Programs and Projects Committee. The Western Riverside County Programs and Projects Committee shall be composed of up to twelve (12) Western Riverside County regular members of the Commission selected by the Chair. Subject to supervision by the Commission, the jurisdiction of the Committee shall be to provide policy direction on transportation programs and projects that impact Western Riverside County. The subject matter may include, but is not limited to: air quality, capital projects, communications and outreach programs, specific transit projects, intermodal programs, motorist services, new corridors, regional agencies/regional planning, Regional Transportation Improvement Program (RTIP), State Transportation Improvement Program (STIP), and Transportation Uniform Mitigation Fee (TUMF) Program related to Western Riverside County, and other areas as may be prescribed by the Commission. Meetings shall be held at 1:30 p.m. on the fourth Monday of the month with its principal location at the offices of the Commission unless otherwise directed by the Committee or the Commission. During a declared state of emergency the meeting may be held at another location, including virtually, as authorized by law or executive order. At any regular meeting not yet convened because of the lack of a quorum, the committee members who are present may constitute themselves a "Committee of the Whole," for purposes of discussing agenda matters or any other matter of interest to the 17 93 members present. The Committee of the Whole may act to take recommendations to the Commission but may take no final actions. Any recommendation presented to the Commission from a Committee of the Whole and not the whole committee should state the number of votes for, against and abstaining in reference to the recommendation. The Committee shall automatically cease to exist if a quorum of the Commission is present at the meeting. (c) Toll Policy and Operations Committee. The Toll Policy and Operations Committee shall be composed of up to eleven (11) regular members of the Commission selected by the Chair. Subject to supervision by the Commission, the jurisdiction of the Committee shall be as follows: policies involving the Commission's toll facilities, setting tolls or rates, considering contracts with vendors working on the toll program, statewide and federal legislative issues regarding tolling, outreach and marketing of the toll facilities, interactions with neighboring jurisdictions regarding toll matters, user -based funding programs and future opportunities for toll facility development in Riverside County. Meetings shall be held as needed with its principal location at the offices of the Commission, unless otherwise determined by the Committee or the Commission. During a declared state of emergency the meeting may be held at another location, including virtually, as authorized by law or executive order. At any regular meeting not yet convened because of the lack of a quorum, the committee members who are present may constitute themselves a "Committee of the Whole", for purposes of discussing agenda matters or any other matter of interest to the members present. The Committee of the Whole may act to take recommendations to the 18 94 Commission but may take no final actions. Any recommendation presented to the Commission from a Committee of the Whole and not the whole committee and should state the number of votes for, against and abstaining in reference to the recommendation. The Committee shall automatically cease to exist if a quorum of the Commission is present at the meeting. 2. In the performance of their duties and responsibilities, the Committees in subsection 1 above shall submit all policy matters coming before them to the Commission for final consideration. 3. Executive Committee. (a) There shall be created an Executive Committee. Subject to supervision by the Commission, the Executive Committee shall oversee staff functions; recommend staff positions, job descriptions and salaries; appoint, contract with and determine the compensation of the Executive Director; discipline, review and terminate the Commission's Executive Director; and oversee administration of the Commission's office. Decisions of the Committee shall be final unless a member of the Commission, within five (5) days of the date of the decision, requests that the decision be placed on the agenda of the next regular Commission meeting for reconsideration. Meetings of the Committee shall be held at 9:00 a.m. on the day of the Commission meeting or as otherwise required and at a place and time to be set by the Executive Committee, unless otherwise directed by the Commission. 19 95 (b) The membership of the Executive Committee shall be as follows: (1) The Chair of the Commission. (2) The Vice Chair of the Commission. (3) The Second Vice Chair of the Commission. (4) The Past Chair of the Commission. (5) Two regular members of the Commission representing the cities of Corona, Jurupa Valley, Moreno Valley, Menifee, Murrieta, Riverside, and Temecula. (6) A regular member of the Commission representing one of the following cities: Banning, Beaumont, Calimesa, Canyon Lake, Eastvale, Hemet, Lake Elsinore, Norco, Perris, San Jacinto, and Wildomar. Such member shall be appointed by majority vote of the members representing the cities referenced in the previous sentence. (7) A regular member of the Commission representing the following cities: Blythe, Cathedral City, Coachella, Desert Hot Springs, Indian Wells, Indio, La Quinta, Palm Desert, Palm Springs and Rancho Mirage. Such member shall be appointed by a majority vote of the members representing the cities referenced in the previous sentence. (8) Three members of the Commission who are members of the Riverside County Board of Supervisors. Such members shall be appointed by the Board of Supervisors. (c) Actions of the Executive Committee shall require six (6) affirmatives "yes" votes. (d) The term of the Executive Committee members, other than the Chair, Vice Chair and the Second Vice Chair shall be two (2) years. 20 96 At the end of their two-year term, Executive Committee members shall stand for reappointment as set forth in Section G.3(b). (e) A member of the Executive Committee may be removed by majority vote of the Commission members responsible for his or her appointment. In the event of a vacancy in the Executive Committee, the vacancy shall be filled as set forth in Section G.3(b) above. The new member shall fill out the remainder of the term. (f) An alternate member of the Commission, as appointed in Article II.C.2, shall not assume the duties of the regular member on the Executive Committee when the regular member is absent. In addition, should a member of the Executive Committee resign or otherwise leave the Commission, the vacancy shall be filled as set forth in Section G.3(b), above. The new member shall serve the remainder of the unexpired term. (g) Amendments to this Administrative Code may be approved by the Executive Committee, subject to review by the Commission as set forth in Section G.3(a) above. 4. The Commission's Committees are authorized to establish rules of procedure relating to the activities and functions of the respective Committee, including the creation of subcommittees of committee members. 5. Appointments made by the Chair shall be for a one-year term ending on December 31 of the year in which the appointments are made. In the event the Chair wishes to remove a Commissioner ("Appointee") appointed during the term of the appointment, the following steps shall be taken: (a) The Chair shall provide Appointee with written notice of the Chair's decision to remove the Appointee from the appointment. 21 97 (b) The notice shall be provided in writing to the Appointee through the Commission's Clerk of the Board and shall include a brief statement of why removal is sought, which reason may include, without limitation, three or more consecutive absences of committee meetings. The notice shall be delivered to the email address, if any, provided by Appointee as well as by first class mail to the Clerk of the City/County appointing Appointee to the Commission and the Appointee's mailing address. (c) The removal shall be effective on the 15th day after the Commission's Clerk of the Board sends notice to Appointee unless Appointee provides notice to the Commission's Clerk of the Board, prior to the expiration of such 15 day period, of his or her desire to contest the removal. (d) In the event that the removal is contested, the removal shall be stayed and the Executive Director shall schedule an Executive Committee meeting at which both the Chair and Appointee may present their arguments for and against removal. Based thereon, the Executive Committee shall either uphold or reject the removal. The decision of the Executive Committee shall be final. (e) If the removal is not contested or approved by the Executive Committee, the Chair may appoint a Commission member to fill the remainder of the Appointee's term. (f) This Section G.5 shall only apply to appointments made by the Chair to 1) the Budget and Implementation Committee as defined under SectionG.1(a); 2) the Western Riverside County Programs and Projects Committee as defined under Section G.1(b)(1); the Toll Policy and Operations Committee as defined under Section G.1(c) and 3) Representative Appointments as defined under Section .F.3(b). 22 98 ARTICLE IV MEETINGS A. AGENDA. Matters to be placed on the Agenda for any regular meeting may be filed with the Executive Director of the Commission by any member of the Commission by the Thursday before such regular meeting. The Agenda for each regular meeting shall be prepared under the direction of the Executive Director. The Executive Director shall cause copies of the Agenda to be mailed or delivered to each regular and alternate member and the General Counsel at least three (3) working days prior to the regular meeting date. B. REGULAR MEETING. Regular meetings of the Commission shall be held with its principal location at 4080 Lemon Street, Riverside, California in the Board of Supervisors Chambers or at such other location set in public meeting by the Commission on the second Wednesday of each month at 9:30 a.m. unless such day is a holiday, in which case the meeting shall be held on the next business day. During a declared state of emergency the meeting may be held at another location, including virtually, as authorized by law or executive order. Regular meetings may be canceled by majority vote of the Commission at a regular or special meeting prior to the meeting to be canceled. A regular meeting may also be canceled by the Chair for lack of a quorum. The Executive Director shall endeavor to mail or deliver notice of such cancellation to each regular member and alternate member at least twenty-four (24) hours prior to the time of the meeting. C. SPECIAL MEETINGS. A special meeting of the Commission may be called at any time by the Chair, or in his or her absence by the Vice Chair or in the absence of the Chair and the Vice Chair by the Second Vice Chair, or by any sixteen (16) regular members by delivering personally or by mail written notice to the Executive Director and each regular and alternate member. Such notice shall be so 23 99 delivered at least twenty-four (24) hours before the time of such meeting as specified in the notice. The call and notice shall specify the time and place of the special meeting and the business to be transacted. No other business shall be transacted at such meeting. Such written notice may be dispensed with as to any member who at or prior to the time the meeting convenes files with the Executive Director a written waiver of notice. Such waiver may be given by telegram or fax. Such written notice may also be dispensed with as to any regular or alternate member who is actually present at the meeting at the time it convenes. The meeting shall be posted as provided by law. D. POSTING OF AGENDAS. The Commission shall post agendas of all regular meetings, containing a brief general description of each item of business to be transacted or discussed at the meeting, at least seventy-two (72) hours before such regular meeting. The agenda shall specify the time and location of the meeting and shall be posted in a location freely accessible to members of the public and at such other locations as required by law. No action shall be taken on any item not appearing on such posted agendas, except as permitted by state law. E. QUORUM AND VOTING REQUIREMENTS. Seventeen (17) members of the Commission shall constitute a quorum for the transaction of business. Unless otherwise required by law or this Administrative Code, all official acts of the Commission shall require the affirmative vote of a majority of the members of the Commission voting on the matter. F. WEIGHTED VOTING. Notwithstanding subdivision E above, any member of the Commission, immediately after a vote of the Commission in accordance with subdivision E, may call for a weighted vote. For an item to be passed by weighted vote, all of the following requirements shall be met: 24 100 (a) The item shall be approved by a majority of the Commission members present at the meeting who represent the Riverside County Board of Supervisors, who each shall have one vote. (b) The item shall be approved by a majority of the Commission members present at the meeting who represent the cities in Riverside County, who each shall have one vote. (c) The item shall be approved by Commission members present at the meeting who represent cities in Riverside County representing a majority of the population of the county living in incorporated areas. For the purpose of this subdivision, each regular commission member at the meeting who represents a city in Riverside County shall be assigned votes based on the percentage of the population of incorporated areas of Riverside County represented by that member in relation to the total population of incorporated areas of Riverside County represented by that member in relation to the total population of incorporated areas of Riverside County represented at the meeting. Population data shall be determined through Department of Finance estimates, adjusted annually on January 1 or as soon thereafter as possible. The population represented by members not voting because of a legal conflict of interest shall not be counted for any purpose in a weighted vote. The provisions of this section shall not apply the election of the Chair, Vice Chair, or Second Vice Chair as defined under Article III.B. G. RALPH M. BROWN ACT. All meetings of the Commission shall be called, noticed, and conducted in the manner prescribed by the Ralph M. Brown Act (Chapter 9, commencing with Section 54950, Part I, Division 2, Title 5 of the Government Code). H. ADDRESSING COMMISSION ON AGENDA ITEMS. No person shall address the Commission at any meeting until he or she has first been recognized 25 101 by the Chair. The decision of the Chair to recognize a person may be changed by vote of a majority of the members of the Commission present at the meeting. Persons wishing to address the Commission shall fill out a speaker card and provide it to the Clerk of the Board prior to the start of the agenda item upon which he or she wishes to be heard, unless another method is specified by the Chair. The Chair may, in his or her discretion, direct the Clerk to accept speaker cards filed after the start of the agenda item. Except as set forth below, when addressing the Commission, each individual speaker will be limited to three continuous minutes or less of public testimony. The Commission may, either at the direction of the Chair or by a majority vote of the Commission, waive this three minute time limitation. Depending on the number of items on the Agenda and the number of speaker cards, the Chair may, in his or her discretion, reduce the time for each individual speaker to two continuous minutes. In addition, the maximum time for public comment for any individual item or topic is thirty (30) minutes, unless extended by the Chair or majority vote of the Board. Speakers may not yield their time to others without the consent of the Chair. The Commission may terminate public comments if such comments become repetitious. I. COMMITTEE OF THE WHOLE. At any regular meeting not yet convened because of the lack of a quorum, the regular members, and alternates acting in the place of a regular member, who are present, may constitute themselves a "Committee of the Whole", for the purposes of discussing agenda matters or any other matter of interest to the members present. The Committee shall automatically cease to exist if a quorum of the Commission is present at the meeting. ARTICLE V CORPORATE POWERS 26 102 A. SUCCESSION. The Commission has perpetual succession and may adopt a seal and alter it at its pleasure. B. LITIGATION. The Commission may sue and be sued, except as otherwise provided by law, in all actions and proceedings, in all courts and tribunals of competent jurisdiction. C. CLAIMS. All claims for money or damages against the Commission are governed by Division 3.6 (commencing with Section 810) of Title 1 of the Government Code except as provided therein, or by other statutes or regulations expressly applicable thereto. D. MOTIONS, REGULATIONS AND ORDINANCES. The acts of the Commission shall be expressed by motion, resolution, or ordinance. All ordinances shall take effect upon their adoption unless otherwise provided for by the Commission. The enacting clause of all ordinances shall be as follows: "The Riverside County Transportation Commission hereby ordains as follows:" All ordinances shall be signed by the Chair or by the Vice Chair of the Commission. E. MISCELLANEOUS. The Commission shall have the power and authority to do any and all things necessary to carry out the purposes of Division 12 (commencing with Section 130000) and Division 25 (commencing with Section 240000) of the Public Utilities Code and other applicable law. ARTICLE VI CONTRACTS The Commission may make contracts and enter into stipulations of any nature whatsoever either in connection with eminent domain proceedings or otherwise, including but not limited to, contracts and stipulations to indemnify and save harmless, to employ labor, and to do all acts necessary and convenient for the full exercise of the powers authorized by law or by this Ordinance. The Commission may contract with any Department or Agency of the United States of America, with 27 103 any public agency (including but not limited to, the Department of Transportation or any Transit District, County, or City), or with any person upon such terms and conditions as the Commission finds is in its best interest. ARTICLE VII BUDGET A. ANNUAL BUDGET. The Commission, after holding public hearings, shall annually, on or before June 15th of each year, adopt a budget for the succeeding Fiscal Year. B. PUBLIC HEARINGS. The Commission shall hold public hearings prior to the adoption of its budget. Notice of time and place of such hearings shall be published pursuant to Section 6061 of the Government Code and shall be published no later than the 15th day prior to the date of the hearing. C. PUBLIC INSPECTION. The proposed annual budget shall be available for public inspection at least fifteen (15) days prior to the hearing. ARTICLE VIII AUDIT The Commission shall make, or cause to be made annually as soon as practical after the end of each Fiscal Year, a post -audit of the financial transactions and records of the Commission for the preceding year. Such post -audit shall be made by a Certified Public Accountant. ARTICLE IX GOVERNMENT CLAIMS POLICY 28 104 A. The review, rejection, sufficiency and return of written claims shall be governed by the Government Claims Act (Division 3.6 (commencing with Section 810) of Title 1 of the Government Code) or as otherwise provided by law. B. The Executive Director or designee is authorized to review and reject claims submitted to RCTC. C. The Executive Director may settle claims in the amount of $50,000 or less after consultation with the General Counsel. The Commission Board must approve all settlements on claims in excess of $50,000. The Executive Director or designee may review and grant or deny an application for late claim relief submitted pursuant to the Government Claims Act. D. This Government Claims Policy is intended to reflect the requirements set forth in the California Government Claims Act. Because state law is amended from time to time, in the event any law cited herein is amended, modified, changed or omitted, then such law shall govern. 29 105 This Tort Claims Policy provides the guidelines for RCTC in responding to a claim, however, a failure to follow this Policy shall not serve as a basis for invalidating an action taken by the Commission or the Executive Director on a particular claim. 30 106 ARTICLE X PROCEDURES FOR DESIGN IMMUNITY A. EXECUTIVE DIRECTOR REVIEW AND APPROVAL. Prior to commencement of a construction project undertaken by the Commission, the Executive Director shall review and approve or disapprove the plans for such project in writing, or delegate such authority in writing to a competent employee of the Commission with the knowledge to discern whether the plans are reasonable or not. Neither the Executive Director nor his or her designee of review and approval authority shall be responsible for drafting such plans. B. DETERMINATION OF REASONABLENESS. The Executive Director or his or her designee of review and approval authority shall review the plans for a construction project undertaken by the Commission to determine whether such plans are reasonable or not. Evidence of reasonableness of such plans may be supported by approval of such plans by a competent professional; or if such plans have been prepared in conformity with a previously approved standard; or if such plans conform to established guidelines such as the Uniform Building Code or guidelines set forth by the California Department of Transportation or the American Association of State Highway and Transportation Officials. C. EXECUTION OF STATEMENT. Upon completion of the review of the plans, the Executive Director or his or her designee shall sign a statement in substantially the form set forth as follows: I have been granted the authority to review and approve the plans for the Project, and I am competent to do so. I have reviewed such plans, and I find them to be reasonable in my judgment as a reasonable employee and approve such plans. 31 107 AGENDA ITEM 6E RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: December 14, 2022 TO: Riverside County Transportation Commission FROM: Audit Ad Hoc Committee Sergio Vidal, Chief Financial Officer THROUGH: Anne Mayer, Executive Director SUBJECT: Fiscal Year 2021/22 Commission Audit Results AUDIT AD HOC COMMITTEE AND STAFF RECOMMENDATION: This item is for the Commission to: 1) Receive and file the Fiscal Year 2021/22: a. Annual Comprehensive Financial Report (ACFR); b. Local Transportation Fund (LTF) Financial and Compliance Report; c. State Transit Assistance (STA) Fund Financial and Compliance Report; d. State of Good Repair (SGR) Fund Financial and Compliance Report; e. Proposition 1B Rehabilitation and Security Project (Proposition 1B) Accounts Financial and Compliance Reports; f. Low Carbon Transit Operations Program (LCTOP) Account Financial and Compliance Reports; g. Single Audit Report; h. RCTC 91 Express Lanes Fund Financial Report; 15 Express Lanes Fund Financial Report; j. Auditor Required Communications Report; k. Agreed -Upon Procedures Report related to the Appropriations Limit Calculation; Agreed -Upon Procedures Report related to the Commuter Assistance Program (CAP) incentives; and m. Management certifications. BACKGROUND INFORMATION: In March 2020, the Commission approved an agreement with Eide Bailly LLP (Fide Bailly) to perform annual audits and agreed -upon -procedures for the following Commission financial statements and related programs: Audits - ACFR; RCTC 91 Express Lanes; 15 Express Lanes; Federal Awards (Single Audit) Financial and compliance audits - LTF, STA, SGR, Proposition 1B, and LCTOP Agreed upon procedures (AUP) - Annual Appropriations Limit Calculation; CAP incentives; Compliance with commercial paper debt covenants Agenda Item 6E 108 The audits, compliance procedures, and agreed -upon procedures for the fiscal year ended June 30, 2022, have been completed, and Eide Bailly issued all reports. The Commission's ACFR or annual financial statements consists primarily of three sections: introductory, financial, and statistical. While the introductory and statistical sections were not audited by Eide Bailly, the financial section included basic financial statements which auditing procedures were performed by Eide Bailly. The Commission received an unmodified opinion or clean opinion on its basic financial statements from Eide Bailly, which is the highest form of assurance. Limited procedures were performed related to the required supplementary information, including Management's Discussion and Analysis section; such information was not audited. The other supplementary information was subject to the auditing procedures applied in the audit of the basic financial statements, and, in the opinion of the auditors, it is fairly stated in relation to the basic financial statements. The basic financial statements include government -wide financial statements, fund financial statements, and notes to the financial statements. Management's Discussion and Analysis section provides a narrative overview and analysis of the Commission's financial activities for the fiscal year. Financial highlights and significant matters of the basic financial statements include: • Net position of approximately $948.8 million at June 30, 2022, compared to approximately $682.5 million at June 30, 2021, reflects a net increase of approximately $266.3 million from governmental and business -type activities. • The net increase in net position consists of approximately $252.9 million from governmental activities and $13.4 million from business -type activities. • Governmental fund balances of approximately $1.105 billion at June 30, 2022, compared to approximately $969.0 million at June 30, 2021, represent an increase of approximately $136 million from the prior year. The audit reports related to the separately issued financial statements of the LTF, STA, SGR, Proposition 1B, and LCTOP also reflect unmodified opinions from Eide Bailly. These financial statements are required to be issued separately under the Transportation Development Act (TDA) and the provisions for Proposition 1B and LCTOP; however, the LTF, STA, and SGR financial position and operations are included in the fund financial statements in the ACFR. The Proposition 1B and LCTOP financial position are part of the Measure A Western County Commuter Rail and Coachella Valley Rail special revenue funds and the General fund, respectively. These reports noted no matters considered to be a material weakness in internal control and no instances of noncompliance. The FY 2021/22 Single Audit Report includes the reports on compliance and internal control over financial reporting and over federal awards. These reports noted no matters considered to be a material weakness in internal control and no instances of noncompliance. Agenda Item 6E 109 The RCTC 91 Express Lanes Financial Report consists of the Independent Auditors' Report, Management's Discussion and Analysis, and Financial Statements, including Notes to Financial Statements. Financial highlights include a net deficit of approximately $290 million, which consisted of: • Net investment (deficit) in capital assets of approximately ($387 million) reflecting toll -supported debt in excess of capital assets; and • Restricted net position of approximately $97 million for toll operations in accordance with debt indentures and agreements. The deficit in net investment in capital assets will be reduced by future toll revenues for the payment of outstanding toll debt obligations. The 15 Express Lanes Financial Report consists of the Independent Auditors' Report, Management's Discussion and Analysis, and Financial Statements, including Notes to Financial Statements. Financial highlights include a net position of approximately $249 million, which consisted of: • Net investment in capital assets of approximately $216 million reflecting capital assets in excess of toll -supported debt; and • Restricted net position of approximately $33 million for toll operations in accordance with debt indentures and agreements. As a result of the establishment of the commercial paper program in March 2005, the bank reimbursement agreement requires a report from the auditor regarding compliance with certain covenants. The report issued by Eide Bailly indicated that nothing came to the auditor's attention that caused the auditors to believe the Commission failed to comply with these covenants. The Appropriations Limit Calculations and CAP reports are based on specific procedures agreed to by the Commission. For the Appropriations Limit Calculation and CAP, the auditors noted no exceptions or findings related to the procedures performed. A management letter usually includes recommendations for improvements and operational efficiencies related to the internal control and other matters noted during the audit. Eide Bailly did not have any recommendations or comments on other matters; therefore, it did not issue a management letter. As required by American Institute of Certified Public Accountants Auditing Standards Board Statement No. 114, The Auditor's Communications with Those Charged with Governance, the Commission's auditor is required to make certain annual communications to the Commission's Audit Ad Hoc Committee, or its equivalent, regarding the audit of the Commission's financial statements following the completion of the audit. Eide Bailly completed the annual audit for FY 2021/22 in October 2022. The report to the Audit Ad Hoc Committee from the auditor contains the required communications about the audit. Agenda Item 6E 110 As part of the development of the Commission's Accountability Program, both the Executive Director and Department Directors have completed certifications relating to financial reporting and operational disclosures. Attachments: Click on the following Link: https://www.rctc.org/wp- content/uploads/2022/11/6E.A1-A16-Audit-Reports.pdf 1) 2022 Annual Comprehensive Financial Report 2) 2022 Local Transportation Fund Financial and Compliance Report 3) 2022 State Transit Assistance Fund Financial and Compliance Report 4) 2022 State of Good Repair Fund Financial and Compliance Report 5) 2022 Proposition 1B Rehabilitation and Security Project Accounts Financial and Compliance Reports 6) 2022 Low Carbon Transit Operations Program Account Financial and Compliance Reports 7) 2022 Single Audit Report 8) 2022 RCTC 91 Express Lanes Fund Financial Report 9) 2022 15 Express Lanes Fund Financial Report 10) 2022 Commercial Paper Compliance Report 11) 2022 Reports to the Audit Ad Hoc Committee (Financial Statements Audit and Single Audit) 12) 2022 Agreed -Upon Procedures Report related to the Appropriations Limit Calculation 13) 2022 Agreed -Upon Procedures Report related to the Commuter Assistance Program incentives 14) 2022 Executive Director and Chief Financial Officer Certification 15) 2022 Director's Certification 16) Auditor's Presentation to the Audit Ad Hoc Committee Agenda Item 6E 111 ATTACHMENT 1 Riverside County Transportation Commission Riverside County, Califomia Annual Conprehensive Finandal Report Rscal Year Ended June 30, 2022 RIVERSIDE COUNTY TRANSPORTATION COMMISSION Intentionally left blank Riverside County Transportation Commission Riverside County, Califomia Annual Comprehensive Financial Report Fiscal Year Ended June 30, 2022 Submitted By: Sergio Vidal, Chief Financial Officer RIVERSIDE COUNTY TRANSPORTATION COMMISSION Contents Letter of Transmittal Organization Chart x List of Principal Officals and Management Staff xi Independent Auditor's Report 1 Management's Discussion and Analysis 5 Basic Financial Statements Government -wide Financial Statements Staterrent of Net Position 20 Staterrent of Activities 21 Fund Financial Statements Governmental Funds Balance Sheet —Governmental Funds 22 Reconciliation of the Balance Sheet of Governmental Funds to the Staterrent of Net Position 25 Statement of Revenues, Expenditures and Changes in Fund Balances —Governmental Funds 26 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities 29 Proprietary Fund Statement of Fund Net Position 30 Statement of Revenues, Expen and Changes in Fund Net Position 31 Statement of Cash Flows 32 Notes to Rasic Financial Statements 34 Required Supplementary Information Budgetary Comparison Schedules General Fund 75 Major Spedal Revenue Funds 76 Schedule of Proportionate Share of Net Pension Liability (Asset) 79 Schedule of Pension Contributions 80 Schedule of Changes in the Net OPEB Liability (Asset) and Related Ratios 81 Schedule of OPEB Contributions 82 Notes to Required Supplementary Information 83 Other Supplementary Information Nonmajor Governmental Funds Combining Balance Sheet 87 Combining Staterrent of Revenues, Expenditures and Changes in Fund Balances 89 Schedule of Revenues, Expenditures and Changes in Fund Balances —Budget and Actual: Nonr r ajor Spedal Revenue Funds 91 Capital Projects Funds 95 Debt Service Fund 96 Schedule of Expenditures for Local Streets and Roads by Geographic Area —All Spedal Revenue Funds 97 Schedule of Expenditures for Transit and Specialized Transportation by Geographic Area and Sourcc All Spedal Revenue Funds 98 Schedule of Uses of Debt Proceeds and Fund Balances 99 Contents, Continued Statistical Section Overview 100 Primary Government Net Position by Component 101 Changes in Primary Government Net Position 103 Fund Balances of Governmental Funds 107 Changes in Fund Balances of Governmental Funds 109 Sources of County of Riverside Taxable Sales by Business Type 111 Direct and Overlapping Sales Tax Rates 113 Principal Taxable Sales Generation by Qty 114 Measure A Sales Tax Revenues by Program and Geographic Area 115 Measure A Sales Tax by Economic Category 116 Measure A Revenues and Pledged Revenue Coverage 117 Ratios of Outstanding Debt by Type 119 Computation of Legal Debt Margin 121 Demographic and Economic Statistics for the County of Riverside 123 Er r ployment Statistics by Industry for the County of Riverside 124 Full-time Equivalent Employees by Function/Program 125 Operating Indicators 127 Capital Asset Statistics by Program 129 Introductory Section BLANK- BACK OF INTRODUCTORY DIVIDER October 31, 2022 To the Riverside County Transportation Commission Commissioners and Citizens of the County of Riverside: Letter of Transmittal State law requires that the Riverside County Transportation Commission (Commission or RCTC) publish within six months of the dose of each fiscal year a complete set of financial statements presented in conformity with accounting principles generally accepted in the United States (GAAP) and audited in accordance with generally accepted auditing standards by independent certified public accountants. Pursuant to that requirement, we hereby issue the Annual Comprehensive Financial Report (Annual Report) of the Commission for the fiscal year ended June 30, 2022. Management assumes full responsibility for the eorrpletenes5 and reliability of all of the infomnation prcscnted in this report, based upon the Comrrission's comprehensive framework of internal controls established for this purpose. Because the cost of internal contrd should not exceed anticipated benefits, the objective is to provide reasonable, rather than absolute, assurance that the finandal statements are free of any material misstatements. Eide Bailly LLP has issued an unmodified opinion on the Commission's financial statements for the year ended June 30, 2022. The independent auditor's report is located at the front of the financial section of this report. Management's Discussion and Analysis (MD&A) immediately fellows the independent auditor's report and provides a narrative introduction, overview, and analysis of the basic financial statements. IVD&A complement this letter of transmittal and should be read in conjunction with it. Profile of ROTC's Govemance and Responsibilities State law established the Commission in 1976 to oversee the funding and coordination of all public transportation services within the county of Riverside (County). The Commission's mission is to assume a leadership role in improving mobility in Riverside County and to rraxirrize the cost effectiveness of transportation dollars in the County. The governing body is the Board of Commissioners (Board), which consists of all five members of the County Board of Supervisors, one elected offidal from each of the County's 28 dties, and one non -voting member appointed by the Governor. The Commission is responsible for setting polities, establishing priorities, and coordinating activities among the County's various transportation operators and agencies. The Commission also programs and/or reviews the allocation of federal, state, and local funds for highway, transit, rail, non -motorized travel (bicyde and pedestrian), and other transportation activities. The Commission has developed two express lanes projects; the RCTC 91 Express Lanes opened in March 2017, and the 15 Express Lanes opened in April 2021. The Commission also serves as the tax authority and implementation agency for the voter -approved Measure A Transportation Improvement Program, which impocs a half -cent sales tax to fund transportation improvements. Originally approved in 1988 (1989 Measure A), Riverside County's voters in 2002 approved a 30 -year extension of Measure A commencing July 1, 2009 through June 30, 2039 (2009 Measure A). The Con-rrission is also legally responsible for allocating Transportation Development Act (TDA) funds, the major source of funds for transit in the County. The TDA provides two major sources of funding: Local Transportation Fund (LTF), which is derived from a one -quarter cent state sales tax, and State Transit Assistance, which is derived from the statewide sales tax on gasoline and diesel fuel. JURUPA VALLEY0 RIVERSIDE EASTVALE NORCO Von Buren Blvd. (ajolca Rood 1 PERRIS Ramona (xpre;s,oay CANYON MENIFEE LAKE LAKE ELSINORE MURRIETA l J WILDOMAR TEMECULA CALIMESA BANNING BEAUMONT SAN JACINTO DESERT HOT SPRINGS PALM SPRINGS CATHEDRAL CITY RANCHO MIRAGE PALM DESERT BLYTHE INDIAN INDIO NDIO IA OUINTA COACHELLA I{ • I 4 4 195 Additionally, as the Service Authority for Freeway Emergencies (SAFE), the Commission provides motorist aid services designed to enhance safety and traffic flow. These services include emergency call boxes along rural highways and the Freeway Service Patrol (FSP), a roving tow truck service to assist motorists with disabled vehides on the main highways of the County during peak rush hour traffic periods. The motorist aid program also includes the operation of the Inland Empire 511 (1E511) system which provides comprehensive real time traveler information for freeways, bus and rail transit, and rideshare services. Al services are provided at no charge to motorists and are funded through a $1 surcharge on vehide registrations; FSP also receives state allocations. The Commission is financially accountable for SAFE, a legally separate entity that is blended within the Commission's financial statements. Finally, the Commission has been designated as the Congestion Management Agency (CMA) for the County. As the CMA, the Commission coordinates with local jurisdictions in the establishment of congestion mitigation procedures for the CounWs roadway system The Commission is required to adopt a budget prior to the beginning of each fiscal year. The annual budget, which includes all funds, serves as the foundation for the Commission's financial planning and control regarding staffing, operations, and capital plans. The budget is prepared by fund (financial responsibility unit), department, and function. Management has the discretion to transfer budgeted amounts within the financial responsibility unit according to function. During the fiscal year, all budget amendments requiring Board approval are prcscnted to the Board for consideration and adoption. Local Economy County local revenues induding sales taxes and mitigation fees such as Transportation Uniform Mitigation Fees (TUMF) have largely been unaffected by the pandemic. Specifically, sales taxes have reached a new high due largely to increased e-corrrr erce sales, higher than anticipated fuel prices, and a loner unemployment rate due to job increases in the logistics sector. As consumer behavior shifted from purchasing at brick -mortar locations to online, the County has experienced both more demand for its workforce within the logistics sector increasing the purchasing of residents and in tum robust sales tax performance. ii Riverside County has specific competitive advantages over nearby mastal counties (Los Angeles, Orange, and San Diego) induding housing that was (and remains) more available and affordable, lower commercial real estate lease and purchase costs, and land available for development at lesser costs. Riverside Countys economy has thrived, reflecting those specific competitive advantages over its neighboring counties, largely as a result of the CountVs continuing ability to draw jobs, residents, and affordable housing away from the Los Angeles, Orange, and San Diego county areas. As a result, the Countys employment and corm'ierdal base has become more diversified, and the Counts share of the regional economy has increased. It is antidpated housing prices within the County will remain strong, however property values may not experience robust increases on a year over year basis due to current market conditions such as higher interest rates. For the Commission, formidable ongoing challenges remain in terms of providing needed infrastructure enhancements to support a population that has increased annually approxir r ely one percent (1 %) in the last ten (10) years and an economy that continues to outgrow the capacity of its existing infrastructure specifically within the logistics sector. Long-term Financial Planning Proactive finandal planning is a critical element for the success of the Commission as it builds for the future. Continually reviewing projected revenues, expenditures, and expenses to actual amounts ensures that the Corrrrission's expectations are realistic and goals are achievable. Scarce resources, especially at the state and federal level, can be directed to projects of regional significance, or, with additional funding, project priorities can be expanded to address unfunded project requirements or developing needs. Local funding, and specifically the Corrrrission's voter -approved sales tax program (Measure A), will continue to serve as RCTCs most significant source of funding. The program funds highway, street and road, public transit, and rail projects and new transportation corridors throughout the County. The program is established in a way to ensure funding for every geographic region within the County induding the Palo Verde Valley, Coachella Valley and more heavily populated area of VVestem Riverside County. Measure A revenues of $280.2 Trillion exceeded the Commission's approved revised projection for FY 2021/22. For FY 2022/23, the Commission is cautiously optimstic for the future and thus continues projecting conservative assumptions in the upcoming year. At the state level, transportation funding is a source of continuing debate regarding future priorities. Sustainability has become a statewide priority and will likely impact the direction of funding for many years. The State of California has established predictable funding streams such as continued increases gas tax, a cap -and -trade program from emissions trading, and encouragement of market -based approaches such as implementation of express lanes and toll facilities. Along with more predictable state funding, State of Califomia has also approved transportation policy measures discouraging the expansion of highway capacity in favor of an added focus on public transit and active transportation. This policy direction will likely impact the Corrrrission's ability in delivering highway projects due to added costs along with renewed emphasis in funding for operations of transit services. Federal funding remains an important revenue source for various initiatives led by the Commission. Specifically, the Commission remains active in monitoring funding opportunities provided by the federal government induding the newly passed Infrastructure Investment and Jobs Act or (IIJA) passed in November 2021. Tilling is another important local funding source for the Commission, and it has largely recovered from the impacts resulting from the pandemic. Since RCfCs opening of the 91 Express Lanes in Corona in 2017, traffic and revenue along this highly used corridor exceeded projections with the exception during the onset of the pandemic. Furthermore, the Commission is entering the second full year in operating for the 15 Express Lanes. This project is publidy known as the Riverside Express and revenues have outpaced projections largely due to incrcased tolls within the southern segment of the facility within the Oty of Corona. The Commission will continue to monitor the number of transactions for the 15 Express Lanes to determine if actuals exceed projections in the upcoming fiscal year. In looking to future funding decisions, providing and ensuring equity to all will be an increasingly important priority and responsibility iii for every transportation agency. Riverside County is home to a wide array of communities with differing needs. ROTC will place a special emphasis on public outreach and policy direction with equity in mind to serve the entire county, including disadvantaged communities that need targeted transportation investments to serve the public and to grow and thrive. Capital Project Delivery and Inplementation — Critical Markets Delivering Needed Infrastructure The Capital Project Development and Delivery Department is responsible for major highway and rail capital projects from initial environmental study through preliminary engineering, final design, right of way acquisition, and construction. The Commission is operating during an unprecedented era of transportation investment in Riverside County. The results can be seen with numerous projects under construction, increasingly popular and successful transit service, and proni,cs of more on the way soon. There is also several notable completed projects — providing tangible examples of the Commission completing promises that were made to voters who approved Measure A The Commission has developed a track record of succcss, which is taking shape throughout the County as evidenced in the following project types. Progress Continues At the beginning of the pandemic -related shutdowns in Califomia, construction workers were identified as essential workers. Investing in infrastructure can be a critical component in protecting and growing the economy in uncertain jobs. For example, the 60 Truck Lanes project is projected to create as many as 2,490jobs. Similar investments and resulting job creation can be seen throughout the County as seen in the recently completed highway and rail projects: 60 Truck Lanes: Completed in 2022 the project provides safety improvements, truck dimbing and deceleration lanes while also preserving the local area habitat and species. Placentia Interchange to link 1-215 and future Md County Parkway:: Construction work began in mid -2020 on the very first component of the Md County Parkway (MCP), a new 16 mile east -west corridor between the sties of San Jacinto and Penis. This $42 million project adds a new freeway interchange at Placentia Avenue that will link to the MCP and improve a segment of Placentia Avenue in the sty of Perris. The new interchange is expected to open in 2022. 91 Freeway Condor Operations Project: Another project that launched construction in the latter part of 2020 is the 91 Corridor Operations Project. The project adds an auxiliary lane on westbound State Route (SR) 91 from the Green River Road on -ramp to the southbound SR -241 connector. The project was completed in early 2022 and provides relief within this vital corridor between Riverside and Orange counties. /-/5 Railroad Canyon Interchange: The Commission serves as the lead agency to expand the Interstate (1)15 interchange at Railroad Canyon Road in the sty of Lake Elsinore. The $45 Trillion project began construction in May 2020 and widens the street under the freeway and makes a number of needed improvements to increase capacity of the on- and off-rarrps and auxiliary lanes. The project was completed in the Spring of 2022 providing reduced traffic buildup on 1-15 and nearby arterial streets. 1-15 Interim Corridor Operations Project Another project on 1-15 is the 1-15 Interim Corridor Operations Project and was completed in the Spring of 2022. This project adds a non-tdled lane on southbound 1-15 from the Cajalco Road on -ramp to the V ick Road off -ramp, a segment slightly less than one mile. 1-15 Corridor Operations Project: The project is to add a southbound lane extension (TRAP lane) on the 1-15 between Cajalco Road and VVeirick Road interchanges. Features of the project include paving of the median, widening of Bedford Wash Bridge, and restriping to accommodate the new lane. /5/9/ Express Lanes Connector: Construction began in early 2021 to build a new direct connection between the RCTC 91 Express Lanes and the 15 Express Lanes. Wth the design -build contract awarded in March 2020, the design -builder has advanced to construction activities. The new connection will be provided from the eastbound 91 Express Lanes to the iv northbound 15 Express Lanes and from the southbound 15 Express Lanes to the westbound 91 Express Lanes. Commuter Rail Improvements: The Commission began construction in 2020 to expand the Metrolink train layover facility at the Riverside-Dowrrtovvn Station. The project will allow more trains to be housed at the station at the end of each night shift, resulting in more efficient service. Construction activities include track irrprovernents north of the train platform, drainage facilities, electrical systems, lighting fixtures, security fencing, access gates, utility relocations, and water and sewer connections. Another station project currently in the environmental phase is construction of a new platform on the east side of the station. This will allow more trains to serve the Riverside -Downtown Station, which is one of the Metrdink system's r r► si heavily used stations. Projects for Future Construction 1-15 Express Lanes Southern Extension Environ►rrental work is already under way to extend the 15 Express Lanes an additional 14.5 rules to the city of Lake Elsinore. A series of public scoping meetings yore held in 2020 as part of the comprehensive environmental review process. 71/91 Interchange: The Commission has secured funding for a new connector between the eastbound SR -91 and northbound SR 71 in the city of Corona. This $ approxii male 134 million project has environmental dearanoe and will begin the construction phase in 2022. 79 Realignment Remains an Important Priority. Another large planning effort affecting the Hemet and San Jacinto communities is the realignment of SR -79. This 2009 Measure A project is undergoing early project development partially funded through the TUNF program and federal ea► i r narks. An environmental document' WaS approved in January 2017 to allow the realignment of SR -79 between Domenigoni Parkway, south of SR -74, and Gilman Springs Road, north of San Jacinto. The project will realign the highway to provide a more direct route within the San Jacinto Valley. Current work on this project includes acquisition of right of way needed for rritigation and to protect cultural sites. Active Transportation:: Non-rrutorized transportation options are becoming an increasingly important part of California's transportation infrastructure, and the Commission has taken a leadership role in assisting local jurisdictions by funding and advocating for projects vying for state funding. The Commission is also heading up project development for the Santa Ana River Trail — a multiuse facility that will provide a bike, pedestrian and equestrian trail to link San Bernardino, Riverside and Grange Counties for cydists, pedestrians and equestrians. Toll Connections with Neighboring Counties ROTC has been successful in establishing a successful and productive relationship with the Orange County Transportation Authority (OCTA) regarding the operation of the 91 Express Lanes. The Commission is now faced with two additional connections between toll facilities. The Commission is currently working with the San Bernardino County Transportation Authority (SBCTA) to dose a gap between the 15 Express Lanes in Riverside County and a planned express lane facility at the San Bernardino County Line. This project is referred to as the I-15 NEXT. Yet another planned facility is a direct connector between the 241 Toll Road operated by the Transportation Corridor Agencies (TCA) and the 91 Express Lanes. Operational issues for this future fadlity are currently being addressed among the TCA, OCTA, Caltrans, and FZCTC. TURF Links Growth with Infrastructure In the Coachella Valley, a TUMF program was established shortly after the passage of the 1989 Measure A The program requires developers to pay a fee on new development to fund arterial improvements. Cities are required to participate in the program or forfeit Measure A local dollars to Coachella Valley Association of Governments, which oversees the arterial program and has been sumxsful in funding a number of irportant arterial and freeway interchange projects. With the passage of the 2009 Measure A a TUIVF program with participation requirements similar to that in the Coachella Valley is in place in Western County and administered by the VVestem Riverside Council of Governments. TUMF funds received by the Commission are split evenly between new corridors, induding the MCP, and regional arterials, induding local projects and the SR -79 realignment project. To date under the regional arterial program, 18 projects have been completed, one project is currently under construction, and one project continues pre -construction work. Rail Development, Operations and Support As one of five funding partners in the Southern Califomia Regional Rail Authority, which operates the Metrolink commuter rail service, the Commission is engaged in a continual exerdse of consensus building with its partners to provide effective regional service. Now consisting of seven lines serving six counties, the system typically carried an average of slightly more than 40,000 passengers each weekday prior to COVID-19. The Commssion owns and operates nine stations served by the three Metroink lines operating through the County, induding four new stations along the Penis Valley Line that commenced carrying passengers in June 2016. The Riverside Downtown Operations Contrd Center provides monitoring of dosed -circuit televisions at the stations as well as facilities for train crews. Below is a sum f nary of the commuter rail services provided in Riverside County: • Rverside Line: Originates in the Riverside -Dow -town station and stops at the Jurupa Valley-Pedley station before proceeding through Ontario, Pomona, Industry, and Montebello to Los Angeles Union Station. Pre -pandemic daily ridership averaged 3,961 riders. • Inland Empire Orange County (IECC) Line: Begins in nearby San Bemardino with stops at the Riverside Downtown, Riverside -La Sierra, Corona -North Main, and Corona -West stations before entering Orange County with stops in Anaheim Canyon, Orange, Santa Ana, Tustin, Irvine, Laguna Niguel/IVission Viejo, San Juan Capistrano, San Clemente, and Oceanside. When initiated, this service was described as the first suburb -to -suburb cone cater rail service in the nation. Average daily ridership on the IEOC line was 4,784 prior to COVID-19. This line also provides weekend service. • 91/Penis Valley Line: Provides service from Perris to Los Angeles with stops in Perris -South, Perris -Downtown, Moreno Valley/March Field, Riverside -Hunter Park/UCR, Riverside -La Sierra, Corona -North Main, Corona -West, Fullerton, Buena Park, Norwalk, and Corrrrerce before terminating at Union Station. Daily patronage on the line prior to COVID- 19 averaged 3,731. A part of this line between Riverside and Los Angeles offers weekend service, and new weekend service from Penis started in October 2019. COV1D•19Imaact on Metrolink The onset of COVID-19 has resulted in a significant drop in Metrolink ridership since mid -March 2020. Metrdink ridership has not retumed to pre-pandemc levels, however incremental increasce for service has returned for commuters. Metroink also is implementing a Recovery Plan to prioritize safety and protect employees and customers while also providing a phased approach to recovery. To assist with ridership recovery, Metrolink has introduced a five-day pass to improve fare flexibility along with Weekends Krds Ride Free, a new Loyalty Program, and an enhanced Corporate Partner Program focused on the healthcare industry. Metrolink is utilizing Federal Transit Administration Coronavirus Ad, Relief, and Economic Security Act grant funds to address some of the revenue lass due to ridership declines and restore service as demand groves —although it is antidpated to take several years for ridership and revenues to fully recover. Coachella Valley -San Gorgonio Pass Rail Service The Commission in coordination with Caltrans and the Federal Railroad Administration, is working to bring passenger rail service as an alternate mode of travel across Southern Califomia, connecting dcscrt communities and attractions with Los Angeles County, Orange County, and the Inland Empire. The program proposcs operating two daily roundtrips between Los Angeles Union Station and Indio or Coachella, with morning and evening departures from each end. Passenger service is expected to take about 3 hours and 15 rrinutes, which is comparable to trips made by cars on congested highways connecting these communities, such as 1-5, SR -91, and 1-10. In July 2022 the Commission certified the Final Tier 1/Program Level Environmental Impact Report. Certification of the environmental report was a significant rrilestone for this project. The Commission has now focused its efforts in engaging local and federal rail officials to deterrrine funding for the construction phase for this rail project.. The eventual implementation of this service will provide another important link between the Coachella Valley and Westem Riverside County along with the rest of Southern Califomia. Commuter/ Motorist Services Acting in its capacity as the regional transportation planning agency (k I HA) and the SAFE for Riverside County, the Commssion provides a variety of commuter services to increase mobility, safety, and air quality throughout the region. Commuter Assistance: As the k I PP the Commission applies 'Measure Afunds to administer the Commuter Assistance Program to ease congestion, maximize the efficiency of its transportation investments, and reduce vehide miles traveled and emissions from single occupant vehide trips with the following programs and services: Pidematching and Information Services: The Comrssion, in partnership with the SBCTA provides carrmuters and employer partners in the region with access to rideshare resources (IEComruter.org) and information to assist with finding ridematches for car/vanpod arrangements or transit options and to participate in incentives. A call center (866 -RI DESHARE) is also available during business hours for commuters or employers who need more personal support. Rideshare Incentives The rr uz, popular commuter incentive continues to be the $5 per day Rdeshare Incentives, a short- term incentive that offers $5 per day for each day commuters use an alternate mode of transportation in a throe month period (up to a max of $125). Long-term commuter ride sharers and televorking employees are recognized and rewarded for their continuing commitment to use alternate modes of transportation to and from work with access opportunities to win monthly prizes for reported rideshare and televork activity through monthly Rideshare Spotlight and Televork Spotlight programs. Vanpool Subsidies The Commission provides ongoing subsidies to eligible vanpools corrmuting to erployer w orksites in Western County through its Vanaub program In FY2021/22, Vanaub supported an average of 30 vans per month resulting in the reduction of more than an estir r rated 50,000 trips, 1.9 million miles, and 728 tons of emssions throughout the region. A recovery toward pre-panderric vanpools levels (80 vanpools) continued to be a challenge throughout the fiscal year; however, the program will be ready to continue as more workers retum to various work sites. Guaranteed Ride Hone: Through the Commission's rideshare program, IE Commuter, a Guaranteed Ride Home (GRH) service is available to ridesharing commuters of employer partners. Should they experience an emergency and need to get home, they are reimbursed the cost of a Lyft/Uber or other transportation network company ride, rental car, taw, or transit option used to get home. GRH also covers when an employee may miss his/her ride due to unexpected overtime. Eligible participants may daim up to two emergency rides home per year. Park 8 /fides: Working in partnership with Caltrans, the Commission loasce excess parking from business and civic institutional partners to facilitate ridesharing and to expand the system's park and ride capadty. There are more than 3,000 park and ride spaces available in Riverside County. vii IVbtonstAssistance: As the SAFE, the Commission also administers the Motorist Assistance Program to provide the following services designed to promote mobility and safety for motorists traveling through Riverside County: Freeway Service Patrol: The FSP program is a spedal team of 26 tow trucks roving along 12 beats on portions of SR -60, SR 91, 1-15, and 1-215 within the County during peak, weekday commuter hours to assist drivers when their vehides break down or experience other mechanical problerrs. The purpose of the FSP is to dear debris and remove disabled vehides from the freeway as quickly as possible to help keep freeway traffic moving during rush hour periods. Another effort augrrents existing FSP service with additional tow trucks in construction areas as another means of construction -related congestion mitigation. The Riverside County SAFE and the State fund the FSP. During FY 2021/22, the FSP provided approximately 54,200 assists. This includes incremental FSP weekend service, funded by the South Coast Air Cuality Management District's Mobile Source Air Pollution Reduction and Review Committee, on segments of SR -91 and SR -60. Call Boxes In cooperation with the Califomia Highway Patrol and Caltrans, the Cormission assists motorists who experience accidents, mechanical breakdowns, or other unforeseen problems by providing access to cellular call boxes with enhanced reception along the County's major highways. In response to the proliferation and continued growth of cell phone usage and dedining demand and use of call boxes, the Commission approved a substantial reduction to the call box system in 2017 and 2019. A cost-effective backbone of 136 call box units will remain in place and serve more than 346 centerline miles of highways. The call box program is funded by Riverside County SAFE revenue, an annual $1 surcharge added to vehide registrations. In FY 2021/22, call box operators answered approximately 935 calls from motorists. Traveler Infomiatiorr. To further promote mobility, the Commission in partnership with the SBCTA, provides motorists with access to real-time freeway travel information and incident information on Southern Califomia highways through its 1E511 Traveler Information system. 1E511 is designed to promote mobility by fostering more informed travel decision to avoid congestion and is available via the telephone by dialing 511 from any landline or cell phone within Riverside or San Bernardino County, online at VW\wie511.org, or the IE511 mobile app. 1E511 is funded with Riverside County SAFE funds in addition to SBCTA reimbursements. In FY2021/22, 1E511 serviced 160,930 web visits and 77,868 phone calls. Specialized Transit The Commission has maintained a long-term comr itrnent to assist residents with specialized transit needs. Through its Specialized Transit Program, the Commission has provided million of dollars to public and nonprofit transit operators that provide spedal transit services to improve the mobility of seniors, persons with disabilities and persons with low incomes. Along with traditional dial -a -ride services, the Commission supports innovative programs providing transit assistance in hard -to -serve rural areas or for riders having very spedal transit needs. With funding from this program, individuals can travel to worts independently, shop at the neighborhood grocery stores, visit a doctor, and much more. The Cormission develops a Public Transit —Human Services Coordinated Plan every four years. This plan assists the Comrrission in identifying service gaps, additional qualifying populations, and underserved areas of Riverside County in need of transit services. The Commission updated this plan during FY 2020/21. To address some of these transit service needs identified in the Public Transit —Human Services Coordinated Ran, a portion of the Measure A sales tax in Westem Riverside County is set aside for a Specialized Transit Call for Projects. This Specialized Transit Call for Projects is held every three years and provides funding awards for public and nonprofit transit operators. During FY2021/22, public and nonprofit transit operators provided over 108,000 one-way trips. In addition to funding and planning, the Commssion updated its bylaws and membership requirements for its TDA-required Social Services Transportation Advisory Council in FY 2021/22. The Citizens and Specialized Transit Advisory Committee (CSTAC) consists of 13 members of the public and two Consolidated Transportation Service Agency members, which were appointed by the Commission in March 2020 with terms and bylaws updated in April 2021. The CSTAC meets three times a year and provides Commission staff additional insight into specialized transit needs throughout the County. viii Awards and Acknowledgements The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the Com rission for its Annual Report for the fiscal year ended June 30, 2021. This was the 29th consecrative year the Commission has achieved this prestigious award. In order to be awarded a Certificate of Achievement, a government must publish an easily readable and efficiently organized Annual Report. This report must satisfy both GAAP and applicable legal requirements. A Certificate of Achievement is valid for a period of one year only. We believe our current Annual Report continues to r i met the Certificate of Achievement Program's requirements, and we are submitting it to the GFOA to determine its eligibility for another certificate. The Annual Report each year is a collaborative effort by Commission staff and its independent auditors. The undersigned are grateful to all staff for their willingness to expend the effort necessary to ensure the financial information contained herein is informative and completed within established deadlines. Special thanks must be extended to the Finance staff, program management and staff, and Comrrission's auditors for the time, effort, and corrrritment so vital for the final completion of the Annual Report. G�9 Goverment Finance Officers Association Certificate of Achievement for Excellence in Financial Reporting Presented to Riverside County Transportation Commission California For its Annual Comprehensive Financial Report For the Fiscal Year Ended June 30. 2021 Exerub e Dire! or CEO In dosing, without the leadership and the support of the Board, preparation of this report would not have been possible. Its prudent management must be credited for the strength of the Commission's fiscal condition, and its vision ensures that the Riverside County Transportation Commission will be on the move planning for and building a better future for Riverside County residents and commuters. Very truly yours, ANNE MAYER Executive Director Sergio Vidal Chief Financial Officer ix Riverside County Transportation Commission Organization Chart Administrative Senecas M nager/Cleuk of the Board Deputy clerk of the Board(2) Senior Administradve Assistant (2) Records Technician Admirnstrative Assistant Senior Office Assistant IlAtlnpniSttator Chief Financial Officer Deputy Director of Flnance Deputy Director of Financial Administration SenlorFinanoal Analyst Finanda Analyst Acwpntng Tedmioan Accounting Supervisor Accountant Accounting Techntdan Accounting Assistant (2) Procurement Manager Senior Procurement Analyst Procurement Analyst Fnaneal Administration Manager Accounting Supervisor Accountant Accounting Teehnioan Human Resources Administrator Planning and Programming Director Planning and Programming Manager Senior Management Analyst_ (2) Board of Commissioners Executive Director Rail Manager Transit Manager Senior Management Anavet Management Analyst P hlic Affairs Manger Senior Management Analyst (2) Legislative Affairs Manager Senior Management Analyst Commuter and Motorist Assistance Manager Senior Management Analyst Community Engagement Manager Tell Operations Director Tot Customer Service Manager Senor Management Analyst Toll Technology Mang Tall Systems Engineer senior Management Analyst Project Delivery Director Senior Capital Projects Manager (2) Total Projects Menager (2) Right of Way Manager Senior Maiagernent Analyst (6) Facilities Admmistrmor Toll Protect Delivery Director Senior Capital Projects Manager 121 Regional Cconservahon Deputy Executive Director Reserve Management and Monitoring Manager Senior Management Analyst (A) Riverside County Transportation Commission List of Principal Officials Kevin Jeffries Member County of Riverside, District 1 Karen Spiegel Member County of Riverside, District 2 Chuck Washington Member County of Riverside, District 3 V. Manuel Perez Chair (Commission) County of Riverside, District 4 Jeff Hewitt Member County of Riverside, District 5 Mary Hamlin Member Qty of Banning Lloyd White 2nd Vice Chair (Commission) Qty of Beaumont Joseph DeConindk Member Oty of Blythe Linda Molina Monier City of Calinxsa Jeremy Smith Vice Chair (Budget and Implementation Committee) Oty of Canyon Lake Raymond Gregory Chair (Budget and Implementation Committee) Oty of Cathedral Qty Steven Hernandez Member Qty of Coachella Wes Speake Member Oty of Corona Scott Matas Member City of Desert Hot Springs aint Lorimore Member Oty of Eastvale Linda Krupa Member Qty of Hemet Dana Reed Member City of Indian Wells VVaymond Femron Member Oty of Indio Brian Berkson Vice Chair (VVestem Riverside County Programs and Projects Qty of Jurupa Valley Committee) Kathleen Fitzpatrick Member City of La Quinta Bob Magee Vice Chair (Commission) Qty of Lake Elsinore Bill Zimmerman Member Oty of Menifee Yxstain Gutierrez Member City of Moreno Valley Lisa DeForest Member Oty of Murrieta Ted Hoffman Member Qty of Norco Jan Harnik Member Qty of Palm Dcscrt Lisa Mddleton Member Oty of Palm Springs Mchael M. Vargas Vice Chair (Toll Policy and Operations Committee) Qty of Perris Ted VVeill Member Qty of Rancho Mrage Chuck Corder Member City of Riverside Mdiael Heath Member Qty of San Jacinto Maryann Edwards Member Oty of Temecula Ben Benoit Chair (Western Riverside County Programs and Projects Committee), City of Wldomar Chair (Toll Policy and Operations Committee) To Be Appointed Governor's Appointee Caltrans, Distract 8 Director xi Anne Mayer, Executive Director Aaron Hake, Deputy Executive Director Jennifer Crosson, Toll Operations Director Vacant, Project Delivery Director Jillian Gjizado, Planning and Programming Drector Vacant, Regional Conservation Deputy Executive Drector David Knudsen, Interim External Affairs Director Lorelle Moe -Luna, Multimodal Services Director David Thornas, Toll Project Delivery Director Sergio Vidal, Chief Financial Officer xii Financial Section BLANK- BACK OF FINANCIAL DIVIDER EideBailly CPAs & BUSINESS ADVISORS Independent Auditor's Report Board of Commissioners Riverside County Transportation Commission Riverside, California Report on the Audit of the Financial Statements Opinions We have audited the financial statements of the governmental activities, the business -type activities, each major fund, and the aggregate remaining fund information of the Riverside County Transportation Commission (Commission) as of and for the year ended June 30, 2022, and the related notes to the financial statements, which collectively comprise the Commission's basic financial statements as listed in the table of contents. In our opinion, the accompanying financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business -type activities, each major fund, and the aggregate remaining fund information of the Commission, as of June 30, 2022, and the respective changes in financial position, and, where applicable, cash flows thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America. Basis for Opinions We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the Commission and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. Adoption of New Accounting Standard As discussed in Note 14 to the financial statements, the Commission has adopted the provisions of Government Accounting Standards Board (GASB) Statement No. 87, Leases, for the year ended June 30, 2022. Accordingly, a restatement has been made to the governmental activities, business -type activities, Measure A Western County fund, Transportation Uniform Mitigation Fee fund, and 15 Express Lanes fund as of July 1, 2021, to restate beginning net position. Our opinions are not modified with respect to this matter. 1 What inspires you, inspires us. eidebailly.com 10681 Foothill Blvd., Ste. 300 Rancho Cucamonga, CA 91730-3831 T 909.466.4410 F 909.466.4431 EOE Responsibilities of Management for the Financial Statements Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America; and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Commission's ability to continue as a going concern for twelve months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter. Auditor's Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements. In performing an audit in accordance with GAAS, we: • Exercise professional judgment and maintain professional skepticism throughout the audit. • Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of Commission's internal control. Accordingly, no such opinion is expressed. • Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements. • Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about Commission's ability to continue as a going concern for a reasonable period of time. We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control —related matters that we identified during the audit. 2 Required Supplementary Information Accounting principles generally accepted in the United States of America require that the management's discussion and analysis, budgetary comparison schedules, schedule of proportionate share of net pension liability/(asset), schedule of pension contributions, schedule of changes in the net OPEB liability/(asset) and related ratios, and the schedule of OPEB contributions, as listed in the table of contents be presented to supplement the basic financial statements. Such information is the responsibility of management and, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. Supplementary Information Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the Commission's basic financial statements. The combining and individual nonmajor fund financial statements, budgetary comparison schedules, schedules of expenditures, and schedule of uses of debt proceeds and fund balances are presented for purposes of additional analysis and are not a required part of the basic financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements. The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the combining and individual nonmajor fund financial statements, budgetary comparison schedules, schedules of expenditures, and schedule of uses of debt proceeds and fund balances are fairly stated, in all material respects, in relation to the basic financial statements as a whole. Other Information Management is responsible for the other information included in the annual report. The other information comprises the introductory and statistical sections but does not include the basic financial statements and our auditor's report thereon. Our opinions on the basic financial statements do not cover the other information, and we do not express an opinion or any form of assurance thereon. 3 In connection with our audit of the financial statements, our responsibility is to read the other information and consider whether a material inconsistency exists between the other information and the basic financial statements, or the other information otherwise appears to be materially misstated. If, based on the work performed, we conclude that an uncorrected material misstatement of the other information exists, we are required to describe it in our report. ALT Rancho Cucamonga, California October 31, 2022 4 Riverside County Transportation Commission Management's Discussion and Analysis Year Ended June 30, 2022 As management of the Riverside County Transportation Commission (Commission), we offer readers of the Commission's financial staterrents this narrative overview and analysis of the Commission's financial activities for the fiscal year ended June 30, 2022. We encourage readers to consider the information on financial performance presented here in Conjunction with the transmittal letter on pages i-ix and the Corrrrission's financial staterrents which begin on page 19. Financial Highlights • Total net position of the Commission was $948,815,035 and consisted of net investment in capital assets of $243,845,427; restricted net position of $1,245,854,326; and unrestricted net position (defidt) of ($540,884,718). • The governmental activities unrestricted net defidt results primarily from the recording of the debt issued for Measure A highway, local streets and roads, and regional arterial projects. As title to substantially most of those assets vests with the State of Califomia (State) Department of Transportation (Caltrans) or local jurisdictions, there is no asset corresponding to the liability. Accordingly, the Commission does not have suffident current resources on hand to cover current and long-term liabilities; however, future Measure A sales taxes are pledged to cover Measure A debt service payments when made. • Total net position increased by $266,355,115 during fiscal year (FY) 2021/22. An increase in net position from governmental activities of $252,960,221 was primarily due to an increase in operating grants and contributions, induding Measure A and Transportation Development Act sales taxes; a decrease in general goverment, bicyde and pedestrian facilities, Community and Environmental Transportation Acceptability Process (CETAP), commuter rail, motorist assistance, regional arterial, regional conservation, and interest expense program expen ; and offset by an increase in oornrruter assistance, highways, local streets and roads, planning and programming, and transit and specialized transportation program expen . An increase in net position from business -type activities of $13,394,894 was related to both a full year of operating for the 15 Express Lanes first full year of operations and higher than anticipated tdl revenue for the 91 Express Lanes. Revenue increases were offset by increa in required repair and rehabilitation expenses for the 91 Express Lanes and a full year of operating expense for the 15 Express Lanes. • Total capital assets, net of accumulated depredation and amortization, were $1,290,728,275 at June 30, 2022, representing an increase of $53,272,309, or 4%, from June 30, 2021. The increase in capital assets was primarily related to an increase in construction in progress on the 15/91 Express Lanes Connector and 1-15 Express Lanes Southern Extension projects, including tdl infrastructure and tdl facility franchise related to the 1-15 Express Lanes and right to use lease assets, offset by the sale of excess land related to the State Route (SR) 91 Project. • The long-term liabilities decreased of $9,889,900, or less than 1% and is related to a Transportation Infrastructure Finance and Innovation Act (T1FIA) final loan drawn down of $4,325,708 for the 1-15 Express Lanes project, including Compounded and accreted interest on the 11 FIA loans; the issuance of the RCTC 91 Express Lanes 2021 Toll Refunding Bonds was used to refund a portion of the ROTC 91 Express Lanes 2013 Toll Revenue Bonds and refund and prepayment of the existing 11 FIA loan; and principal payments on the sales tax revenue bonds and amortization of sales tax revenue bonds premium Additionally, deferred inflows of resources shows an increase of $2,617,774, or 42% and is related to the implementation of GASB Statement No. 87, Leases as well as increases for other post -employment benefits (OPEB). • The Commission's governmental funds reported combined ending fund balances of $1,104,646,206, an increase of $135,854,506 compared to FY 2020/21 primarily due to increases in sales taxes, intergovernmental revenues for reimbursement of projects costs, and Transportation Uniform Mitigation Fee (TUMF) revenues, offset by a net increase in program expenditures. Approximately 57% of the governmental fund balances represent amounts available for the 5 Measure A program, induding debt service and funding from the issuance of debt, and the TUMF program Overview of the Financial Statements This discussion and analysis are intended to serve as an introduction to the Corrrrission's basic finandal statements, which are comprised of three components consisting of government -wide finandal statements, fund finandal statements, and notes to the finandal statements. This report also contains required supplementary information and other supplementary information in addition to the basic financial statements. Government wide Rnancial Statements The government -wide finandal staterrents are designed to provide readers with a broad overview of the Commission's finances, in a manner sirrilar to a private -sector business. The statement of net position presents information on all of the Commission's assets, liabilities, and deferred outflows/inflows of resources with the difference reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the finandal position of the Commission is improving or deteriorating. The statement of activities presents information showing how the Comrission's net position changed during the fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported for some iterrs that will only result in cash flows in future fiscal periods. The government -wide finandal statements report the functions of the Commission that are principally supported by sales taxes and intergovernmental revenues, or governmental activities, from other functions that are intended to recover all or a significant portion of its costs through user fees and charges, or business -type activities. The governmental activities of the Commission include general government, the Measure A program, CETAP, commuter assistance, regional arterials, commuter rail, transit and specialized transportation services, planning and programming, regional conservation, bicycle and pedestrian fadlities projects, and motorist assistance services. Measure A program services are divided within the three regions of Riverside County (County), namely Western County, Coachella Valley, and Palo Verde Valley. The business -type activities of the Commission include toll road operations. The government -wide finandal statements include only the Commission and its blended component unit. The government -wide finandal staterrents can be found on pages 20-21 of this report. Fund Rnancial Statements A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. Fund accounting is used to ensure and demonstrate compliance with finance -related legal requirements. Govemmental funds are used to account for essentially the same functions reported as governmental activities in the government -wide finandal statements; however, governmental fund finandal statements focus on near -term inflows and outflows of spendable resources and on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a govemrrent's near -term financing requirements. Since the focus of govemrrental funds is narrov er than that of the government -wide finandal staterrents, it is useful to compare the information presented for governmental funds with similar information presented for govemrrental activities in the govemrrent- wide finandal statements. As a result, readers may better understand the long -tern irrpact of the govemrrent's near -term financing decisions. Both the governmental fund balance sheet and related statement of revenues, expenditures and changes in fund balances provide a reconciliation to facilitate this comparison between govemrrental funds and governmental activities. The Commission maintains 17 individual governmental funds. Information is presented separately in the governmental fund balance sheet and in the related statement of revenues, expenditures and changes in fund balances for the Commission's major 6 governmental funds comprised of the General fund, Measure A VVestem County, Measure A Coachella Valley, TUMF, Local Transportation Fund (LTF), State Transit Assistance, and SB 132 Special Revenue funds, Comrr erdal Paper and Bonds Capital Projects funds, and Debt Service fund. Data from the other seven governmental funds are combined into a single, aggregated presentation. Individual fund data for each of these nonmajor governmental funds is provided in the form of combining statements in the other supplementary information section. The Commission adopts an annual appropriated budget for the General fund, Special Revenue funds, Capital Projects funds, and the Debt Service fund. Budgetary comparison schedules have been provided for the General fund and major Special Revenue funds as required supplementary information and for the nonmajor Special Revenue funds and the Capital Projects and Debt Service funds as other supplementary information to demonstrate compliance with these budgets. The governmental fund financial statements, including the reconciliation between the fund financial statements and the govemrent-wide financial statements, can be found on pages 20-29 of this report. The proprietary fund consists of two enterprise funds, which are used to report the same functions presented as business -type activities in the government -wide financial statements. The Comrrission uscs enterprise funds to account for its tdl road operations. Proprietary fund financial statements provide the same type of information as the government -wide financial statements, only in more detail. The proprietary fund financial statements provide separate financial information of the RCTC 91 Express Lanes and 15 Express Lanes, which are major enterprise funds of the Commission. The proprietary fund financial statements can be found on pages 30-33 of this report. Notes to the Financial Statements The notes provide additional information that is essential to a full understanding of the data provided in the government -wide and fund financial statements. The notes to the financial statements can be found on pages 34-73 of this report. Other Information Other information is in addition to the basic financial statements and accompanying notes to the financial statements. This report also presents certain required supplementary information concerning the Commission's budgetary results for the General fund and major Special Revenue funds as well as the schedules of proportionate share of net pension liability/asset, pension contributions, changes in the net other post -employment benefits (OPEB) asset and related ratios, and OPEB contributions. Required supplementary information can be found on pages 74-83 of this report. Other supplementary information is presented immediately fdlowing the required supplementary information. Other supplementary information indudes the combining statements referred to earlier relating to nonmajor governmental funds; budgetary results for the nonmajor Special Revenue funds, all Capital Projects funds, and the Debt Service fund; schedules of expenditures for local streets and roads and expenditures for transit and specialized transportation; and schedule of uses of debt proceeds and fund balances. This other supplementary information �n be found on pages 86-99 of this report. Govemment-wide Financial Analysis As noted previously, net position may serve over time as a useful indicator of a govemment's finandal position. At June 30, 2022, the Commission's assets, including deferred outflows of resources, exceeded liabilities, including deferred outflow of inflows, by $948,815,035, a $266,355,115 increase from June 30, 2021. Our analysis below focuses on the net position and changes in net position of the Commission's governmental and business -type activities. Net Position Approximately 26% compared to 36% in FY 2020/21, of the Commission's net position reflects its net investment in capital assets 7 (i.e., intangibles consisting of tollfacility franchise; construction in progress; land and improvements; toll infrastructure; buildings; construction and rail operating easements; rail stations; rail tracks; building and office improvements; development in progress; transponders; and office furniture, equipment, and vehides), less any related outstanding debt used to acquire those assets, primarily related to land and tilled express lane projects. The Comrrission u:ce these capital assets to provide transportation services to the residents and business community of the County. Although the Commission's investments in capital assets is reported net of related debt, the resources used to repay this debt must be provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities. For business -type activities, the related debt for the ROTC 91 Express Lanes exceeded the capital assets, net of accumulated depredation and amortization, as a portion of the debt financed highway improvements on SR -91 for which title vests with Caltrans. The decrease is related to the sale of capital assets, offset by the issuance of refunding toll revenue debt for the RCTC 91 Express Lanes. The rrut significant portion of the Commission's net position represents resources subject to external restrictions on how they may be used. Restricted net position from governmental activities represents the majority of the total governmental activities net position at June 30, 2022 and 2021, respectively. Restricted net position from governmental activities increased by $137,881,148, as a result of the increased sales tax and operating and capital contributions, offset by a net increase in program expens . Restricted net position from business -type activities incrooscd $130,41+1,666 primarily as a result of net revenues from operations, induding the first full year of operations for the 1-15 Express Lanes. Unrestricted net position represents the portion of net position that can be used to finance day-to-day operations without constraints established by debt covenants, enabling legislation, or other legal requirements. Unrestricted net position from governmental activities defidt was reduced from a $593,657,822 at June 30, 2021 to a $544,282,734 at June 30, 2022. The governmental activities defidt results primarily from the impact of recording of the Commission's long-term debt, consisting of bonds issued for Measure A highway, local street and road, and regional arterial projects. While a significant portion of the debt has been incurred to build these projects which are capital assets, upon completion most projects except for express lanes projects are transferred to Caltrans or the local jurisdiction. Accordingly, projects other than express lanes are not assets of the Commission that offset the long-term debt in the statement of net position. Upon completion, express lanes projects and related debt are transferred to business -type activities. The following is condensed financial data related to net position at June 30, 2022 and June 30, 2021: Current and other assets Capital assets not being depredated Capital assets, net of depreciation and amortization Total assets Deferred outflows of resourcxer, Total assets and deferred outflows of resources Long-tem obligations Other liabilities Total liabilities Deferred inflows of resources Total liabilities and deferred inflows of resources Net position: Net investment in capital assets Restricted Urrestrided (defidt) Net position at end of year $ 1,234,626,680 $ 1,069,643,907 $ 242,917,535 $ 193,653,204 $ 1,477,544,215 425,407,610 350,067,778 16,864,711 28,078,568 442,272,321 251,238,636 258,810,011 597,217,318 600,499,609 848,455,954 1,911,272,926 1,678,521,696 856,999,564 822,231,381 2,768,272,490 42,331,367 40,071,578 16,053,065 641,814 58,384,432 1,953,604,293 1,718,593,274 873,E152,629 822,873,195 2,826,656,922 835,313,388 873,444,721 895,557,183 867,315,750 1,730,870,572 119,963,133 102,632,421 17,389,461 9,329,796 137,352,594 955,276,521 976,077,142 912,946,645 876,645,546 1,868,223,166 8,642,631 5,791,212 976,090 492,649 9,618,721 963,919,152 981,868,354 913,922,735 877,138,195 1,877,841,887 415,495,777 353,189,808 (171,314,772) (109,184,608) 243,845,427 1,115,074,082 977,192,934 130,444,666 54,919,608 1,245,518,748 (540,884,718) (593,657,872) — — (540,884,718) $ 989,685,141 $ 736,724,920 $ (40,870,106) $ (54,265,000) $ 948,815,035 $ 1,263,297,111 378,146,346 859,309,620 2,500,753,077 40,713,392 2,541,466,469 1,740,760,471 111,962,217 1,852,722,688 6,283,861 1,859,006,549 244,005,200 1,032,112,542 (593,657,822) $ 682,459,920 8 Changes in Net Position The Commission's total program and general revenues were $799,957,437, while the total cost of all programs was $533,602,322. Total revenues increased by 18%, and the total cost of all programs increased by 22%. Those wfio directly benefited from the programs or other governments that subsidized certain programs with grants and contributions paid approximately 66% of the costs of the Commission's programs in FY 2021/22, compared to 64% of the costs in FY 2020/21. Sales taxes ultimately financed a significant portion of the programs' net costs. Governmental and lousiness -type activities increased the Comrrission's net position by $266,355,115 and condensed financial data related to the change in net position is presented in the table below. Key elements of this increase, are as fellows: • Charges for services increased by $50,594,242, or 97%, due to increased traffic volumes due to COVID-19 pandemic recovery, induding changes in toll rates on the RCTC 91 Express Lanes. Additionally, the 1-15 Express Lanes, which opened in April 2021, experienced its first full year of tell operations in FY 2021/22; • Operating grants and contributions increased by $24,839,205, or 16% primarily due to state reimbursements related to the Jurupa and McKinley Avenue grade separation projects funded by SB132; • Capital grants and contributions increased by $313,047, or less than 1%, primarily due to state reimbursements related to 15/91 Express Lanes Connector funded by SB132; • Measure A sales tax revenues increased by $37,226,742, or 15%. This increase is primarily as a result of online sales, including sales from a diversified econonic base in Riverside County that have exceeded expectations considering the COVID-19 pandenc recovery; • Transportation Development Act (TDA) sales taxes increased by $34,066,651, or 23%, primarily as a result of online sales, including sales from a diversified econorric base in Riverside County that have exceeded expectations considering the COVID-19 pandemic recovery; • Unrestricted investment eamings (lass) decreased $20,398,294 due to unrealized losses in the portfolio; • Other nisrpllaneous revenues decreased $3,191,274, or 55%, due primarily to the sale of rail and highway properties in the previous fiscal year; • Gain on sale of capital asset, net decrooscd $1,100,189, or 100%, related to the sale of excess SR -91 project properties recorded as capital assets in the previous fiscal year. The sale of land in FY 2021/22 resulted in a loss on sale of capital assets; Revenues Program revenues: Charges for services Operating grants and contributions Capital grants and contributions General revenues: Measure A sales taxes TDA sales taxes Unrestricted investment eamings (loss) Other miscellaneous revenue Gain on sale of capital assets, net Total revenues $ 392,868 179,656,964 71,849,461 280,170,582 180,682,280 (14,295,090) 2,574,199 $ 331,336 154,817,759 71,536,414 242,943,840 146,615,629 2,326,345 (3,452,703) 5,765,473 $ 102,378,876 $ 51,846,166 $ 102,771,744 $ 52,177,502 179,656,964 154, 817, 759 71,849,461 71,536, 414 324,156 1,100,189 280,170,582 242,943,840 180,682, 280 146, 615, 629 (17,747,793) 2,650,501 2,574,199 5,765,473 1,100,189 701,031,264 624,336,796 98,926,173 53,270,511 799,957,437 677,607,307 9 Changes in Net Position Gove nmental Activities Business -Type Activities Total 2022 2021 2022 2021 2022 2021 Expenses General govemment Bcyde and pedestrian facilities CEfAP Corrrruter assistance Conmuter rail Highways Local streets and roads Nbtorist assistance Planning and prcgrarrring Regional arterials Regional conservation TdI operations Transit and specialized transportation Interest expense Total expenses (2,868,799) 1,127,083 — — (2,868,799) 1,127,083 1,587,819 3,388,814 — — 1,587,819 3,388,814 5,181,055 5,723,685 — — 5,181,055 5,723,685 3,229,524 3,110,681 — — 3,229,524 3,110,681 34,291,250 37,367,041 — — 34,291,250 37,367,041 159,525,490 122,407,790 — — 159,525,490 122,407,790 85,183,610 74,082952 — — 85,183,610 74,082,952 4,322,295 4,498,883 — — 4,322,295 4,498,883 4,774,012 3,730,032 — — 4,774,012 3,730,032 24,258,688 30,985,584 — — 24,258,688 30,985,584 1,492,799 1,832,340 — — 1,492,799 1,832,340 96,696,426 61,852,151 96,696,426 61,852,151 85,415,249 50,535,684 — — 85,415,249 50,535,684 30,512,904 35,080,824 — — 30,512,904 35,080,824 436,905,898 373,871,393 96,696,426 61,852,151 533,602322 435,723,544 Excess (deficiency) of revenues over (under) 264,125,368 350,465,403 2229,747 (8,582,640) 266,355,115 241,883,763 expenses Transfers (11,165,147) (230,548,696) 11,165,147 230,548,696 Increase (decrease) in net position 252,960,221 19,916,707 13,394,894 221,967,056 266,355,115 241,883,763 Net position at beginning of year 736,724,920 716,808,213 (54,265,000) (276,232,056) 682,459,920 440,576,157 Net position at end of year $ 989,685,141 $ 736,724,920 $ (40,870,106) $ (54,265,000) $ 948,815,035 $ 682,459,920 • General government expenses decreased by $3,995,882, or 355%, primarily due to the recognition of the pension and OPEB actuarial asset that is recognized as a deferred outflow of pension and OPEB contributions; • Bicycle and pedestrian facilities expenses decreased by $1,800,995, or 53%, due to a decrease in dain3 submitted for approved projects; • CETAP expenscs decreased $542,630, or 9%, due to Md County Parkway project right of way acquisition support services in the previous fiscal year; • Commuter assistance expenses increased $118,843, or 4%, primarily due to an increase in program management services; • Commuter rail expen decreased by $3,075,791 or 8%, as a result decreased operating contributions to the Southern Califomia Regional Rail Authority (SCRRA) due to COMD-19 impacts and availability of federal COVID-19 relief funds to SCRRA; • Highway expenscs increased by $37,117,700, or 30%, due primarily to the 15/91 Express Lanes Connector and Jurupa and McKinley Avenue grade separation projects funded by SB132; • Local streets and roads expenses increased by $11,100,658 or 15%, because of an increase in the overall Measure A sales tax revenue have a corresponding allocation increase to the local jurisdictions; • Motorist assistance expenses decreased by $176,588, or 4%, due primarily to reduced freeway service patrd activities; • Planning and programming expenses increased by $1,043,980, or 28%, due to LTF planning allocations and various next generation express lanes and transit -oriented oorTlmunities strategic plan development studies; • Regional arterial expenses decreased by $6,726,896, or 220/0, as a result of a net decrease in reimbursements to local jurisdictions for approved regional arterial projects; • Regional conservation expen, decreased by $339,541, or 19%, primarily due to the recognition of the pension and OPEB actuarial asset that is recognized as a deferred outflow of pension and OPEB contributions; • Toll operations expenses increased by $34,844,275, or 56%, due primarily to the first full year of toll operations on the 15 Express Lanes and required repair and rehabilitation activities on the 91 Express Lanes; • Transit and specialized transportation expenes increased by $34,879,565, or 69%, due to an increase in bus transit operating and capital daims in Abstem County and Coachella Valley geographic areas resulting from the availability of federal COVID-19 relief funds for transit operators in the previous year; • Interest expense related to governmental activities decreased by $4,567,920, or 13%, primarily as a result of the net impacts of the current year's interest payments, amortization of the loss on refunding bonds, and amortization of sales tax bond premiums; and 10 • Internal transfers decreased $219,383,549, or 95%, due to the previous year activity related to the contribution of capital and intangible assets offset by the transfer of tdl-supported long-term debt from governmental activities to the 15 Express Lanes Enterprise fund as a result of the 1-15 Express Lanes project substantial completion in April 2021. The graphs below present the program and general revenues by source and program expenses for the Commission's governmental activities for the fiscal years ended June 30, 2022 and June 30, 2021: Revenues - amv nrn ntal ACvilip $177,203,0m $157,200,000 $137,200,000 $117,2040022 $97,270.000 $77,230,000 $57,2X1.000 $37,2]0,000 $17,030,000 $(2,810,000) • 2022 Id 2021 $225,000,070 $225,000,030 $24.5,000,000 $2 ,000,0X1 $215,0[0,030 $185,000,000 $165,000,110 $145,000,010 $125,000,110 $105,005,090 $863,004000 $65.000.005 $45,00400) %ammo 415,004000 07ag7g for eeMCB I_ gxratirggrarts ard Coital grants aid mrtrialtic s mrtrix5cns •2622 $392,868 $179,665,984 $71,849,461 .2(21 $331,336 $154,817,759 $71.5361414 111 0 Ms�reAsa. tares TQ4srte, taxes UrresbiOEd CtFerrrisodlxraxs irveshiEnt earnings rexnue $2X1,170,582 $180,600.220 414,295,000 $2574.199 $242,943,840 $146,615,659 $2326,345 $5,765,473 Expenses - Gxemme ihal Pities de and anaal & Carnuter Lora' streets NUtorist Ralni g and Regime' Transit and Interest gm:inn-Ent pedsshial CE7PP assstace Carrrtrter rail Ff9'Tneys ard Tomb assistaxe programming arterials mrservatim spgiali� eq:ense facilities traraportatim $(2,868,799) $1,537,819 $5,181,055 $3,229,524 $33,291,291 $159,525,490 $8,183,610 $4,322,295 $4,774,012 $2425$683 $1,492,799 $85,415,249 $33,512904 $1,127,083 $33388,814 $5,723,685 $3,110,681 $37,367,041 $122,407,790 $74,082952 $4,428,883 $3,730,032 $31,985,584 $1,832,340 $53,535,634 $35,080,824 11 The graphs below present the program and general revenues by source and program expenses for the Commission's business - type activities for the fiscal years ended June 30, 2022 and June 30, 2021: Expenses - Business-TypeActivities $80000,000 $70,000,000 $60,C00,000 $50,000,000 $40,000,000 $30,000,000 $20,000,000 $10,000,000 M 2071 M 2021 RGTC 91 Express 15 Express Lanes Lanes $69,463,323 $27,233,103 $56,311,3"42 $5,5330,819 $104,000,000 $99,000,000 $93,000,000 $89,000,000 $84,000,000 $79,000,000 $74,000,000 $89,000,000 $63,000,000 $;9,000,000 $53,003,000 $49,0170,000 $44,000,000 $89,000,000 $34,000,000 $29,000,000 $24,000,000 $19,0170,000 $14,000,000 $9,000,000 $4,000,000 -$1,000,000 $6,000,000 Revenues - Busii , Type Activities Chargesfor senAoss as2022 $102,378,876 2021 $51,846,166 lhrwatided investment Gan m sale of coital earrings assets net $3,452,7°3 $324,166 $0 $1,100,189 Financial Analysis of the Commission's Funds Govemmental Funds The fm is of the Commission's govemmental funds is to provide information on a near -term inflows, outflows, and IDalanoes of spendable resources. Such information is useful in assessing the Commission's financing requirements. As of June 30, 2022, the Commission's governmental funds reported combined ending fund balances of $1,104,646,206, an increase of $135,854,506 compared to FY 2020/21. Less than 1%, or $3,647,563, is nonspendable fund balance related to prepaid amounts; $3,049,765 is assigned fund balance for general government administration activities; and an unassigned defidt of $389,756 is related to a defidt fund balance in the SB132 Special Revenue fund and Nonmajor govemmental fund. The remainder of the fund balance is restricted to indicate the fdlo ving externally enforceable legal restrictions: • $8,347,486 in TDA funds that have been allocated to jurisdictions within the County for bicyde and pedestrian projects; • $57,995,729 of TUMF funds for new CETAP corridors in VVestern County • $18,477,302 for VVestem County corrrnuter assistance activities such as expansion of park -and -ride fadlities and other projects and programs that encourage commuters to use altemative r r odes of transportation under the 2009 Measure A program • $79,066,370 in TDA, Measure A and Proposition 1B funds for corrrnuter rail operations and capital projects and $2,200,344 in TDA and Proposition 1B funds for the Coachella Valley/San Gorgonio Pass rail corridor; • $11,067,296 in 2009 Measure Afunds available to pay sales tax revenue bonds debt service over the next year; • $322,432,486 for highway, econorric development, and new corridor projects related to the 1989 Measure A and 2009 Measure A programs; • $12,426,049 in state funds for motorist assistance services; • $6,286,671 of TDA funds and $11,696 intergovernmental funds for planning and programming activities; 12 • $85,406,017 and $61,355,194 for regional arterial projects in Western County related to the 2009 Measure A and TUMF programs, respectively; • $17,401,861 of Measure A funds for transit and specialized transportation in the VVestem County and $4,426,863 for specialized transportation in the Coachella Valley; and • $411,437,270 in TDAfunds available to the commuter rail and bus transit operations and capital in the County, including state of good repair. The fdlovving table presents the changes in fund balances for the govemrrental funds for the fiscal years ended June 30, 2022 and 2021: General fund Sdal Revenue major funds: Measure A V\stem County Measure A Coachella Valley Transportation Uniform Mitigation Fee Local Transportation Fund State Transit Assistance SB 132 Capital Projects major funds: Commerdal Paper Bonds $ 35,788,510 379,440,191 84,343,540 119,352,193 276,854,895 131,655,414 (385,823) 15,043,286 25,576,707 Debt Service fund 11,067,296 Nonmajor governmental funds 25,909,997 Key elements for the changes in fund balances are as follows: 37,918,031 323,627,591 78,416,512 123,065,220 (3)% 184,546,422 50% 128,582,178 2% (143,114) 170% (6)% 17% 8% 16,623,510 (10)% 38,756,608 (34)% 11,529,992 (4)% 25,868,750 0% • The 6% decrease in the General fund resulted from decreased commuter rail intergovernmental reimbursements, offset by the increase in planning and programming, and transit and specialized transportation program expenditures; • The 17% increase in the Measure A Western County Special Revenue fund was attributed to excess 2009 Measure A revenues, offset by increased commuter assistance, local streets and roads, regional arterials, and transit and specialized transportation expenditures; • The 8% increase in the Measure A Coachella Valley Special Revenue fund was attributed to excess 2009 Measure A revenues over expenditures for Coachella Valley highway, local streets and roads, and regional arterial projects; • The 3% decrease in the TUMF Special Revenue fund was attributable to excess TUMF revenues over CETAP and regional arterial projects, offset by an increase in transfers out to the Measure A Western County Special Revenue fund for I-215/Placentia Interchange project; • The 50% increase in the Local Transportation Fund resulted from the excess of sales tax revenues over daims of allocations for transit operations and capital projects and for bicyde and pedestrian facility projects; • The 2% increase in the State Transit Assistance fund resulted from the excess of sales tax revenues over daims of allocations for transit operations and capital projects; • The 170% increase in the SB 132 fund deficit resulted from project costs not yet reimbursed by Caltrans; • The 10% decrease in the Commercial Paper Capital Projects fund vuas attributed to the r se of excess funds for the repayment of debt service; • The 34% decrease in the Bonds Capital Projects fund vvas attributed to transfers out to the Measure A VVestem County Special Revenue fund and 15 Express Lanes Enterprise fund for project costs and rarrp-up reserves, respectively; • The 4% decrease in the Debt Service fund was attributable to an increase in transfers out to the Measure A Western County Special Revenue fund for federal subsidy reimbursements; and • No change in nonmajor governmental funds remains consistent with the previous fiscal year. 13 Proprietary Fund The Commission's proprietary fund provides the same type of information found in the government -wide financial statements. The net position of the proprietary fund totaled a deficit of $40,870,106 at June 30, 2022. The deficit is related to the RCTC 91 Express Lanes tell -supported debt in excess of capital and intangible assets. General Fund Budgetary Highlights The $263,000 increase in General Fund expenditure appropriations between the original budget and the final amended budget for the General fund was related to the fdlovving changes: • $34,000 increase to general government for various operations support services; • $1,420,000 decrease to the commuter rail program; • $485,300 decrease to the planning and prograrrrring program; • $3,700 decrease to transit and specialized transportation professional costs; and • $2,138,000 increase to capital outlay. During the year, General fund revenues were lower than budgetary estiri Ei es by $11,042,465; expenditures were less than budgetary estimates by $35,394,657. General fund budgetary variances between the final arrended budget and actual amounts are as fellows: Revenues Intergovernmental Investment income Other Total revenues Expenditures Q.irrent General govemrrent Cormxater rail Planning and programming Transit and specialized transportation Debt service Capital outlay Total expenditures Other financing sources (uoes) Transfers in Transfers out Total other financing sniaroes (uses) $ 19,015,500 17,600 1,300 $ 19,015,500 17,600 1,300 $ 7,209,094 (488,441) 1,271,282 $(11,806,406) (506,041) 1,269,982 19,034,400 10,658,400 32,492,700 4,981,200 1,329,800 1,230,000 50,692,100 19,034,400 10,692,400 31,072,700 4,495,900 1,326,100 3,368,000 50,955,100 15,560,443 35,394,657 7,991,935 (11,042,465) 8,326,'144 3,760,366 823,213 605,977 2,044,443 10,692,400 22,746,256 735,534 502,887 (605,977) 1,323,557 25,036,200 (1,618,100) $ 23,418,100 $ 26,579,200 5,438,987 (21,140,213) (1,618,100) — 1,618,100 24,961,100 $ 5,438,987 (19,522,113) Significant budgetary variances between the final arrended budget and actual amounts are as fellows: • $11,806,406 negative variance for intergovernmental revenues primarily related to lower eligible intergovernmental reimbursements due to lower commuter rail expenditures; • $506,041 negative variance for investment income indudes lower investment yields and unrealized losses; • $1,269,982 positive variance for other revenues related to reimbursable other agency project costs; • $10,692,400 positive variance for general government expenditures primarily related to the administrative cast allocations process; • $22,746,256 positive variance for commuter rail expenditures related to lower Metrdink operations costs due to COVID- 19 impacts and the availability of federal COVID-19 relief funds to SCRRA and delay in various rail capital projects; • $735,534 positive variance for planning and prograrrrring expenditures related to lower professional services, construction, special studies, planning allocations, and other expenditures such as staff support; 14 • $502,887 positive variance for transit and specialized transportation expenditures related to lower professional services, special studies, and other expenditures such as staff support; • $605,977 negative variance for debt service expenditures related to the implementation of GASB Statement No. 87 Leases, • $1,323,557 positive variance for capital outlay expenditures related to delay in implementation of replacement of finance enterprise resource planning system and rail station improvements; • $21,140,213 negative variance for transfers in related to the administrative cost allocations process and lower c onlTuter rail activities than anticipated; and • $1,618,100 positive variance for transfers out related to the administrative cost allocations process that affected c orrnruter rail, planning and programming, and transit and specialized transportation activities. Capital Assets AS of June 30, 2022, the Commission had $1,290,728,275, net of accumulated depredation and amortization, invested in a broad range of capital assets induding development and construction in progress and easements; land and land improvements; construction rail operating easements, stations, and tracks; buildings; toll infrastructure; transponders; tdl facility franchise; office irprovements, furniture, equipment, and vehides; and leased assets. The total increase in the Commission's total capital assets, net for FY 2021/22 was 4% and primarily attributable to construdion in progress for the 15✓91 Express Lanes Connector project. Major capital asset additions during 2022 induded construdion in progress for the 15/91 Express Lanes Connector project, continued tdl infrastructure and facility franchise activity on the 15 Express Lanes, rail station improvements, and construction easements on various projects. Capital assets indudes the implementation of GASB Statement No. 87, Leases, reflecting the right to use assets for land, buildings, and equipment. The table below is a comparative sum r lrry of the Commission's capital assets, net of accumulated depredation: Capital assets not being depredated: Land and land irrproverrents Construction easements Rail operating easements Construction in progress Developrrent in progress Total capital assets not being depredated Capital assets being depredated and amortized, net of accumulated depredation and amortization: Rail stations Rail tracks Temporary construction easements Buildings and building irrproverrents Toll infrastnudure Transponders TdI fadlity franchise Office improvements, fumiture, equipment, and vehides Total capital assets, net of accumulated depredation and amortization Right to use leased assets, net of accumulated amortization Land Buildings Equipment Total right to use leased assets, net Total capital assets $ 170,015,793 $ 170,315,513 $ 11,990,286 $ 25,608,011 $ 182,006,079 $ 195,923,524 4,202,495 4,167,671 259,657 53,350 4,462,152 4,221,021 63,846,199 63,846,199 - - 63,846,199 63,846,199 186,511,029 111,489,211 4,614,768 - 191,125,797 111,489,211 832,094 249,184 - 2,417,207 832094 2,666,391 425,407,610 350,067,778 16,864,711 28,078,568 442272,321 378,146,346 122,988,654 123,881,250 740,774 300,587 129,369,739 129,060,954 39,573 339,745 6,027,357 22,851,446 9,888 568,238,032 6,854,220 17,007,976 87,888 576,442,794 90,595 106,731 122988,654 123,881,250 740,774 6,027,357 22851,446 9,888 568,238,032 391,182 129,369,739 129,060,954 39,573 6,854,220 17,007,976 87,888 576,442,794 446,476 247,911,265 258,810,011 597,217,318 600,499,609 845,128,583 859,309,620 16,803 3,246,658 63,910 16,803 - 3,246,658 63,910 3,327,371 - - - 3,327,371 - $ 676,646,246 $ 608,877,789 $ 614,082,029 $ 628,578,177 $ 1,290,728,275 $ 1,237,455,966 15 On March 20, 2017, the 91 Project was substantially completed and the RCTC 91 Express Lanes opened to motorists. In connection with a toll facilities agreement with Caltrans, or service concession agreement, the Commission may collect tolls and operate and maintain a toll facility on SR -91 from the Orange/Riverside County line to 1-15 for 50 years from opening. On April 10, 2021, the 1-15 Express Lanes project was substantially oorrpleted and the 15 Express Lanes opened to motorists; the 15 Express Lanes began tolling on April 14, 2021. In connection with a toll facilities agreement with Caltrans, or service concession agreement, the Commission may collect tolls and operate and maintain a toll facility on 1-15 between Cajalco Road in Corona and SR -60 in Jurupa Valley for 50 years from opening and commencement of tilling. More detailed information about the Commission's capital assets is presonted in Note 4 to the financial statements. Debt Administration As of June 30, 2022, the Comrrission had $1,726,159,056 outstanding in sales tax and toll revenue bonds, including a TIFIA loan as follows: Sales tax revenue bonds $ 830,738,739 Toll revenue bonds 733,034,464 11FIA loan 162,385,853 Total outstanding sales tax and toll revenue bonds $ 1,726,159,056 The total debt decreased from the $1,738,721,046 outstanding as of June 30, 2021, primarily due to the following: Governmental activities Sales tax revenue bonds Sales tax bonds premium R iciness -type activities Toll revenue bonds Toll revenue bonds discount Toll revenue bonds premium 11FIA loan Total outstanding sales tax and toll revenue bonds $ 777,315,000 $ — $ (29,995,000) $ 747,320,000 94,246,216 — (10,827,477) 83,418,739 212,071,347 615,059,000 (1,855,227) 55,968,468 656,943,710 8,780,334 $ 1,738,721,046 $ 679,807,802 (148,464,395) 678,665,952 1,855,227 - (1,599,956) 54,368,512 (503,338,191) 162,385,853 $ 692,369,792 $ 1,726,159,056 • Sales tax revenue bonds was reduced by $40,822,477 due to reductions resulting from principal payments in the amount of $29,995,000 and premium amortization of $10,827,477; and • Toll revenue bonds increased $522,818,344 largely due to the issuance of the debt in connection with the 2021 toll bonds refinance ($615,051,059) which paid both the existing Toll Revenue Bonds and 11FIA loan; and • 11FIA loan decreased $494,557,857 due largely to pay-off of the 91 Express Lanes loan and marginal increase related to TI FIA loan draws and compounded interest. The Commission's sales tax revenue bonds received ratings of "M+" from S&P Global Ratings (S8P), "Aa2" from Moody's Investors Service (Moodys), and "AA' from Fitch Ratings (Fitch), and the toll revenue bonds related to the 91 Project received ratings of "A' and "BBB+" from S&P and Fitch, respectively. The 11FIA loan related to the 1-15 Express Lanes project received ratings of "BBB" from Kroll Bond Rating Agency and "BBB-" from Fitch. In March 2005 the Commission established a commercial paper program currently authorized at $60,000,000 to provide advance funding for 2009 IVbasure A capital projects. The oonlT ercial paper notes are rated "Al" by S&P and "P1" by Moody's. As of June 30, 2022, the Commission had $0 in commercial paper notes outstanding. 16 As of June 30, 2022, outstanding debt for the Corrrrission is $747,200,000, which is $227,800,000 under the debt limit of $975,000,000 required by the 2009 Measure A ordinance. The Cormission had authorized the issuance of toll revenue bonds, induding a 11FIA loan, for the 91 Project not to exceed $900,000,000, which is in excess of the total outstanding debt of $0. In March 2020, the Commission authorized the sale and issuance of not to exceed $725 Trillion of toll revenue refunding bonds and prepaid the 11FIA loan in October 2021. The Commission also authorized the issuance of a 11FIA loan, for the 1-15 Express Lanes project not to exceed $165,000,000, which is in exams of the total outstanding debt of $162,385,853. 11FIA loans provided federal funding up to $152,214,260 for the 1-15 Express Lanes project on a senior lien basis. Additional information on the Commission's long-term debt can be found in Note 6 to the financial statements. Economic Factors and Other Factors During its March 2022 Commission meeting, the Commission adopted guiding principles for use in the preparation of the FY 2022/23 Budget. Those principles have been incorporated in goals of the Corrrrission and will continue to be updated annually in response to the ever-changing social, political, and econorricenvironment. The principles are a business planning tool designed to assist the Commission in irrplementing its strategic goals and objectives and lays the foundation for future financial planning for the annual budget process. The Commission adopted the FY 2022/23 annual budget on June 8, 2022. Approxirrrately 43% of the $903,559,500 balanced budget is related to capital project expenditures, induding: • $17,722,200 for completion of right of way acquisition, construction, and design -build activities related to the 91 Project consisting of tolled express and general-purpose lanes and interchange improvements, induding the eastbound lane to McKinley Avenue; • $12,387,800 for repair and rehabilitation of the 91 Express Lanes; • $2,710,000 for construction and engineering activities related to the 91 Corridor Operations project (COP), including the cmtbound COP, • $3,449,000 for engineering, construction, design -build, and right of way activities related to the 1-15 Express Lanes projects; • $80,123,000 for construction, design -build, and right of way activities related to the 15/91 Express Lanes Connector project; • $6,000,000 for engineering related to the 1-15 Express Lancs Southern Extension project; • $5,200,000 for engineering and construction related to the 1-15 Corridor Operations project, including the interim project; • $1,360,000 for right of way support services, engineering, and construction related to the I-15/Railroad Canyon Interchange project; • $48,930,000 for engineering, right of way activities, and construction related to the 71/91 Connector project; • $99,512,000 for engineering, right of way activities, and construction related to the Western County SB 132 projects for which the Corrrrission is not the lead agency; • $2,005,000 engineering and right of way activities related to the Santa Ana River Trail Extension projects for which the Corrrrission is the lead agency for the Riverside County Regional Park and Open Space District; • $3,260,000 for engineering, construction and right of way related to the SR -60 Truck Lanes project; • $11,700,000 of engineering and construction related to the smart freeways project; • $39,704,000 for various Western County Measure A and TUMF regional arterial projects; • $32,370,000 for engineering, construction, and right of way acquisition/support services for the Md County Parkway projects; and • $17,537,500 for engineering, construction, and right of way activities for various rail station upgrades. Distributions to the local jurisdictions for local streets and roads are budgeted at $77,101,900. Budgeted expenditures related to funding of public bus transit operations and capital projects in the County aggregate $211,200,900. Debt service costs are $91,756,300, or 10% of the budget. There are obvious variables in terms of project financing available from federal and state funds. There is continuing uncertainty 17 regarding longterm federal transportation funding for the Commission's capital projects and programs. The Commmssion continues to study alternative financing altematives such as tolled express lane facilities and federal financing programs to support the delivery of 2009 Measure A projects. Contacting the Commission's Management This financial report is designed to provide a general overview of the Commission's finances for all those with an interest in the government's finances and to show the Commission's accountability for the money it receives. Questions concerning any of the infort i ration provided in this report or requests for additional information should be addressed to the Chief Financial Officer, Finance Department at the Riverside County Transportation Commission, 4080 Lemon Street, ad Floor, P.O. Box 12008, Riverside, Califomia 92502-2208. 18 Basic Financial Statements Riverside County Transportation Cornrission Statement of Net Position June 30, 2022 Govemrental Business -type Activities Pctivities Total Assets Cash and investments $ 978,379947 $ 95,964,043 $ 1,074,334,990 Receivables: Pcoa,Ls 182314,407 8,327,528 190,641,935 \idations 43,866 43,866 Pdvances to otter govemrrens 17,480,280 17,480,280 Interest 2725,309 329,403 3054,712 Leases 2411,579 335,578 2747,157 Internal balances 6,981,900 (6,981,900) Due tram other govemrrents 234345 - 234,345 Repaid expenses and other assets 3,647,563 351,164 3,99 ,727 Restricted cash ad investrrents 32406,419 143,610,179 176,016,598 Net pension asset 5,727,755 666,850 6,394,605 Net other past-erplayrre t benefits assets 2326,176 270,824 2,597,000 Capital assets net being depredated 425,407,610 16,864,711 442272,321 Capital assets, net of aaxirrulated depredation and arratization 247,911,265 597217,318 845,128,583 Right d use lease asset, net of amortization 3,327,371 - 3,327,371 Trial assets 1,911,272,926 856,999,564 2768,272493 Deferred outflows d resources Lass on refunding of bonds 30,719,848 14,784,689 45,504,537 Pension related 10,621,663 1,153,132 11,774,795 Other post-enplaynert benefits related 989,856 115244 1,105,100 Total deferred aAflo%s d resources 42331,367 16,053,065 58,384,432 Trial assets and deferred outflows of resources 1,953,604,293 873,052,629 2826,656,922 Liabilities Accounts payable 113,866,028 13,871,019 127,737,047 Interest payable 3,183,298 3137,870 6,321,168 Otierliabilities 2913,807 380,572 3,294,379 Long-term liabilities: Cue vitnin at year- bonds, leases, and oonpe sated absences 43029,751 2,603,289 45,833,040 Due in more than one year Bends, loans, leases and compensated absences 792283,637 892,953,895 1,685,237,532 Trial liabilities 955,276,521 912946,645 1,868,223,166 Deferred inflows d resources Persicnrelated 4,719,489 465,974 5,185,443 Leases 2383,156 330,822 2713,978 Ober posterrploymti nt benefits related 1,540,006 179,294 1,719,300 Total deferred idiom cif resources 8,642631 976,090 9,618,721 Tcfal liabilities and deferred inflows of resources 963,919,152 913,922,735 1,877,841,887 Net posta i Net ink (deficit) in modal assets 415,495,777 (171,650,350) 243,845,427 Restricted far. Bicyde and pedestrian facilities 8,347,486 8,347,486 CETAP 57,995,729 57995,729 Camuter assistance 18,486,677 18,486,677 Con -muter rail 81,367,989 81,367,989 Debt service 11,067,296 11,067,296 lighv eys 339,054,288 339,054,288 Rvbta st assistance 12,427,443 12,427,443 Express lanes 130,780,244 130,780,244 Planning and prograrrrrirg 6,298,699 6,298809 ReCjiorel arterials 146,762481 - 146,762481 Transit and specialized 4a on 433,265,994 433,265,994 U.tahided (deficit) (540,884,718) (540,884,718) Trial netpcaticn $ 989,685,141 $ (40,870,106) $ 948,815,035 See motes to basic firaraa'statements 16verside County Transportation Carrrission Statenent of Activities Year Hided June 30, 2022 A ryar, Revenues Net (Expense) Revenue and Changes in Net Position Charges for Operating (rants Capital Grants Governrrerrtal Busir.as-type Functions/Prograrrs Expenses Services and Contributions and Contributions Activities Activities Total Primary Government Goverrrrer al Activities: C -sterol government $ (2868,799) $ Bowie and pedestrian facilities 1,587,819 CETAP 5,181,055 Col -muter assistance 3229,524 Carmuter rail 34291,250 Hstrveys 159,525,490 Local streets and roads 85,183,610 lubtaist assistance 4,322295 Raring and progamrirg 4,774,012 Regime! arterials 24,256,688 Regorel oorservatian 1,492,799 Transit and spedalized trarepodatim 85,415,249 IrAaest expense 30,512,904 Total governmental activities 436,905,606 - $ 5,313 250,200 137,555 392868 - $ - $ 2,868,799 $ $ 2,868,799 - - (1,587,819) - (1,587,819) 17,727,164 - 12,551,422 12,551,422 1,431,322 - (1,798,192) - (1,798,192) 1,922,014 14,584,145 (17,525,091) (17,525,091) 122,344,806 57,265,316 20,222,187 - 20,222,187 (85,183,610) (85,183,610) 5,235,615 - 913,320 913,320 2543,503 - (2230,509) - (2,233,509) 22,455,245 - (1,803,443) (1,803A43) 3,974,222 - 2481,423 - 2,481,423 2013,063 - (83,402186) (83,402186) - - (30,512,904) - (30,512904) 179,656,964 71,849,461 (185,006,603) (185,006,603) Business -type Activities: RCTC91 EN:ressLares 69,463,323 65,119,434 - - - (4,343,860) (4,343,860) 15 Express Lanes 27,233,103 37259,442 10,026,360 10,026,339 Total Business -type abvitiies 96,606,426 102,378,876 - - 5,68,450 5,682450 Total Rirray Government See nctes to basic financial staterrents $ 533,602,322 $ 102,771,744 $ 179,656,964 $ 71,849,461 (185,006,603) 5,682,460 (179,324,153) General Revenues: Weave Asales taxes 260,170,582 283,170,582 Traspatatim Development Act sales taxes 187,682,28(1 - 180,682280 Unrestricted invesbre1 earnings (14,255,090) (3,452703) (17,747,793) Other rriscellaneas reveue 2574,199 - 2574,199 Transfers (11,165,147) 11,165,147 - Total general revenues and tia ofas 437,966,824 7,712444 445,679,268 Change in net position 252960,221 13,394,894 266,356,115 Nst position (deficit) at beginning dyes Not position (defidt) at end cfyear 736,724,920 (54,265,000) 682,459,920 $ 989,6'35,141 $ (40,870,106) $ 948,815,035 21 Riverside County Transportation Conrrission Balance Sheet - Governmental Funds June 30, 2022 Major Funds Special Revenue General Transportation MeasueA Measure Uniform Local State Metal Coachella Mitigation Transportation Transit County Valley Fee Fund Assistance SB 132 Assets Cash ardinneslnrents $ 18,763,691 $ 339,566,401 $ 88,202,879 $ 127,031,131 $ 249,779,594 $ 124,637,846 $ Receivables Amounts 4,861,763 63,763,257 9,547,689 10,347,735 28,505,370 7,321,448 54,314,280 Advances Ii 1 t 59,962 1,443,373 162,333 247,254 421,281 240,241 26,424 Leases 2,181,791 - 229,768 Due iomother funds 17,564,212 11,910,843 124,086 6,433 Fiances toother funds 11,727273 - - - Prepaid expenditures and other i, 479,416 3,165,483 1,270 Restricted cash and invest/rents - - - Total assets $ 41,729,044 $ 433,758,421 $ 98,036,987 $ 137,863,611 $ 278,706,245 $ 132,159,535 $ 54,340,704 Liabilities, deferred idiom of resources, and fund balances Liabilities Acoouts payable $ 5,538,020 $ 45,499,209 $ 13,090,008 $ 6,080,288 $ 1,071,563 $ 510,321 $ 40,698,853 Advances payable Cue to other funds 3,829,390 603439 12,205,381 779,787 33,800 14,027,674 Other liabilities 402,514 842,836 - - - - - Total liabilities 5,940,534 50,171,435 13,693,447 18,285,669 1,851,350 544,121 54,726,527 Deferred inflate cf resauces Leases 2,157,407 225,749 Unavailable revenues - 1,999,388 - - Total deferred idiom of resources - 4,146,795 225,749 Fund balances Nonspendade Repaid amunts 479,416 3,165,483 1,270 Leases Restricted for Bicyde and pedestrian facilities - OETAP - 57,995,729 Corrruter assistance 18,477,302 - Corrrruter rail 25,972,658 53,093,712 Debt service - - Fighaays 201,895,816 79,916,677 8,347,486 tvMaist assistance - - - - Flaming and prograrrr ing 6,286,671 - Regional arterials 85,406,017 61,355,194 - Transit and specialized transpertation 17,401,861 4,426,863 268,507,409 131,655,414 - Assigned General govcmrnent 3,049,765 Unassigned - (385,823) Total fund balances 35,788,510 379,440,191 84,343,540 119,352,193 276,854,895 131,655,414 (385,823) Total liabilities, deferred inflows ofresaaces, and fund balances $ 41,729,044 $ 433,758,421 $ 98,036,987 $ 137,863,611 $ 278,706,245 $ 132,199,535 $ 54,340,704 See rotesto basic financial 5aterrents 22 Riverside County Transportation Conrrission Balance Sheet - Governmental Funds, Continued June 30, 2022 Major Funds Capital Projects Comnercial Paper Bonus Other Nonnejor Debt Governmental Service Funds Total Assets Cash and invests $ 427,586 $ 67,829 $ 4,619,9,52 $ 25,274,038 $ 978,370,947 Receivables Arxotrts 3,652,865 182,314,407 Advances 15,093,224 2,387,056 - 17,480280 Interest 2,606 65,118 8,677 48,040 2,725,309 Leases - - 2411,579 Duefnomother funds 434,145 67,894 30,107,613 Advances to other funds - - 11727273 Prepaid e> itures and offer assets 1,394 3,647,563 Restricted cash and investrents - 25,843,656 6,562,753 - 32406,419 Total assets $ 15,957,561 $ 28,431,563 $ 11,191,382 $ 28,976,337 $ 1261,191,390 Liabilities, deferred inflows of rescues, and fund balances Liabilities Accounts payable $ - $ - $ - $ 1,377,766 $ 113,866,028 Advances payable - 2,727,273 - 2,727,273 Due to oderfuds 124,086 522,156 32,125,713 Other liddlities 914,275 127,583 - 1,166,418 3,453,626 Trial liabilities 914,275 2,854,856 124,086 3,066,340 152,172,640 Deferred inflows of resources Lane 2383,156 Unavailable revenues - - - 1,989,388 Total deferred inflows of resources 4,372,544 Fund balances Nonspendable Prepaid amounts 1,394 3,647,563 Leases - - - - Restricted for Bicyde and pedestrian facilities - - - 8,347,486 CETAP - 57,995,729 Corrrrrderassistance - - - 18,477,302 Corrmder rail - 2,200,344 81,266,714 Debt service 11,087,296 11,067296 Fighneys 15,043,285 25,576,707 322,432,486 fvbtaist assistance - 12,426,049 12426,049 Flaming and programming 11,696 6,298,367 Regard arterials - - - 146,761,211 Transit and spedalized transportation 11,274,447 433,265,994 Assiged General govenrne 1t 3,049,765 tJrassiged (3,933) (389,756) Total fund balances 15,043,286 25,576,707 11,067,296 25,909,997 1,104,646,206 Total liabilities, deferred in0oasof resources, and fund balances $ 15,957,561 $ 28,431,563 $ 11,191,362 $ 28,976,337 $ 1,261,191,390 See notes to basic financial statements RIVERSIDE COUNTY TRANSPORTATION COMMISSION FIverside County Transportation Cormission Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Position June 30, 2022 Total fund balances - Governmental funds page 23 Amounts reported for governmental activities in the statement of net position page 21 are different because: Amounts due from other govern r u cis are not an available resource and therefore, are not reported in the funds. Deferred outflows of pension resources are not available to pay for current -period expenditures and, therefore, are not rgxor ted in the funds. Deferred inflows of pension resources are not due and payable in the current period and, therefore, are not reported in the funds. Deferred outflows of other post-errployrrnt benefits resources are not available to pay for current -period expenditures and, therefore, are not reported in the funds. Deferred inflows of other post-enployrrent benefits resources are not due and payable in the current period and, therefore, are not reported in the fund. Capital and right to use leased assets, less related accumulated depreciation and annrtization, used in governmental activities are not financial resources and therefore are not reputed in the funds. $ 1,104,646,206 234,345 9,904,577 (4,002,383) 989,856 (1,540,006) 676,646,246 Certain revenues are not available to pay for current period expenditures and, therefore, are r ew ted as deferred inflows of resources in the funds. 2,529,207 Interest payable on long-term debt outstanding is not due and payable in the current period and therefore is not reported in the furls. (3,183,298) Net other poster ployment asset is not reported in the funds. 2,326,176 Net pension asset is not reported in the funds. 5,727,755 Longterm liabilities are not due and payable in the current period and therefore are not reported in the funds. Those liabilities consist of Conpersated absences (1,176,633) Lease liabilities (3,398,016) Sales tax bonds payable (747,320,000) Loss on refunding of sales tax bards 30,719,848 Rerrium on sales tax revenue bands payable (83,418,739) Net adjustrrexit (804,593,540) Net position of govern rental activities page 21 $ 989,685,141 See notes to basic financial statements 25 Riverside Canty Transportation Comrission Statement of Revenues, Experritures and Changes in Fund Balances - Governmental Funds Year Ended June 30, 2022 Major Funds Special Revere General Transportation MeasureA MeasureA Uniform Local State Western Coachella Mitigation Transpaiatien Transit County Valley Fee Fund Assistance SB 132 Revenues Sales tames $ - $ 224,230,486 $ 54,599,526 $ - $ 155693,950 $ 25,773,517 $ Tracat taticnL •um Mfigaticn Fee - 35,539,031 Irdagovan entd 7,209,094 68,884,142 4,673,378 1,996,063 118,236,582 Invest -rent lame (Ices) (488,441) (4,451,865) (1,395569) (2081,895) (3,996,140) (203$954) (372,119) Ms 1,271,282 1,807,074 - 29285 - - 348,870 Tctal revenues 7,991,935 290,269,837 53,202,937 38129,799 148693,873 23,734,563 118,215,263 Expenatures Qmert: Genera goemrert - 329,937 - - 12000 - - Bicycle and pedeshianfadlities - - - 1,587,819 - - CETAP - - 5,279,295 - - anrrnteressstace - 3,434,404 - - Cannterral 8,326,444 12,079,835 - - - lightness - 108,061,204 21,137,761 - - 118,457,972 Lod streets aad reeds - 64,733,206 19,109,834 - - - Motaristassstarce - - - Planning adprcgrarmirg 3,760,366 - - 1,173,000 - Regional arterials - 3207,422 21,171,922 - Regional conservation - - - - - - Transit and specialized transportation 823,213 6,810;521 7,152400 - 48,173,594 20241,793 Total progans 12910,023 198656,529 47,399,995 26,451217 50,946,413 20241,793 118457,972 Debt service: Principal 555019 22,192 - - - Interest 49,958 728 - - - - Tcta debt service 605,977 22,920 Capita allay 2,044,443 3,905,970 Taal atendtures 15,580,443 202,585,419 47,399,995 26,451217 50,945413 20241,793 118,457,972 Excess (defidancy) of revenues over (under) expencitures (7,568,508) 87,884,418 5,802942 11,678,582 97,747,460 3,492770 (242,7(8) Cther financing sakes (uses): Transfers in 5,438,987 37,291,327 124,086 41,511 Transfers out (69,163,145) (15,433,120) (5,438,997) (419,534) Total aher financing sources(uses) 5,438,967 (31,871,818) 124,088 (15,391,609) (5,438,997) (419,534) Netdenge in fund balances (2129,521) 55,812600 5,927,028 (8713,027) 92308473 3,073,238 (242,709) Fund balances a beginning of year 37,918,031 323,827,591 78415512 123,065,220 184,546,472 128,582178 (143,114) Fund balances at end of year $ 35,788,510 $ 379,440,191 $ 54,343,540 $ 119,352,193 $ 275854,895 $ 131,655,414 $ (385,823) See notes to basic finenad Aaerrerts 266 13verside Canty Transportation Camission Statement of Revenues, Expenditures and Charges in Fuld Balances - Govem rental Funds Year Ended June 30, 2022 Major Funds Capital Rejects Revenues Sales tams TraNix I :ion Willi, Mfigaticn Fee Integvver msnhal Investrrent inane (Ices) Ober Tetd revenues Conrrercial Paper Other Non ajar Debt Governmental Bonds Service Funds Total $ - $ 1,028,470 $ - $ 5,555,383 $ 460,852,862 35,509,031 2,812,132 9,994,613 213,808,004 13,447 (62,751) (383,937) (14,233,774) 118 17,853 3,274,412 1,028,470 13,447 2,749,499 15,183,912 699,213,535 Expencitures Qxreri: Goners] goverment - - - - 341,937 Bicyde ianfadlities - - - - 1,587,819 CEfPP - - - - 5,279,229.5 Ccrm8er assistance - - 3,434,404 Conm4errail - - 813,548 21,219,827 FighAeys - - - 247,656,937 Loral streets and roads - - 1,340,570 89183,610 Motorist assistance - - 4,474,970 4,474,970 Ranrdrg andprogrannirg - - 768,665 5,702,031 Regional arterials - - - 24,379,344 Regional conservation - - 3,974,222 3,974,222 Transit and specialized q,..rlaiim - - - 2723,298 85,924,817 Toted progans - - - 14,095,271 489,159,213 Debt service: Rindpel - - 29,995,000 30,573211 Interest - 39,599,288 - 39,649,974 Toted debt service - 69,594,288 - 70,713,185 Capped away - 5,950,413 Told evendtues - - 69,594,288 14,095,271 565,332811 Excess (deficiency) ci revenues over (under) ecendttres 1,028,470 13,447 (66,844,789) 1,088,641 133,880,724 Ober financing sauces (uses): Traefers in 272,727 69,591,038 2672892 115,432568 Transfers cut (2,608,694) (13,466,075) (3,2(14,945) (3,720.286) (113,458,786) Tdal dher financing suuces(uses) (2,608,694) (13,193,348) 68,382093 (1,047,394) 1,973,762 Netdenge in find balances (1,589224) (13,179,931) (462,696) 41,247 135,854,506 Fund balances at tragirring of year 16,623,510 38,756,608 11,529,992 25,866,750 968,791,700 Fund balances at end of year $ 15,043,286 $ 25,576,707 $ 11,067,296 $ 25,909,997 $ 1,104,646,206 See notes to basic financial statenencis RIVERSIDE COUNTY TRANSPORTATION COMMISSION Riverside County Transportation Cormission Reconciliation of the Statement of Revenues, Expenditures and Ganges in Fund Balances of Govern ntal Funds to the Statement of Activities Year Ended June 30, 2022 Net change in fund balances - Total governmental funds page 27 Arrounts reported for governmental activities in the statement of activities page 21 are different because: Governmental funds report capital outlays as expenditures. I-krmever, in the statement of activities, the ast of those assets is allocated over its estimated useful lives and reported as depredation expense. The adjustrrert corrbires the net char i of the following amounts: $ 135,854,506 Capital outlay 90,660,525 1 ins on sale of assets (357,020) Depreciation expense (12,723,490) Net adjustments 77,580,015 Right to use loo :cal assets amortization (648,856) Revenues in the statement of activities that do not provide curent financial rrcnr rroes are not reported as revenues in the funds. 1,925,072 The issuance of longterm debt (e.g., bonds) provides current financial resources to governmental funds, while the repayment of the principal of longterm debt consumes the current financial resources of govemnental funds. Neither transaction, however, has any effect on net position. Also, governmental funds report the effect of preniurrs, disory ints, aid sirrilar items when debt is first issued, whams these amounts are deferred and amortized in the statement of activities. The adjustn tart combines the net char met, of the fdlowing arrourts: Principal payrrents for sales tax revenue refunding bonds 10,925,000 Principal payment for sales tax revenue bonds 19,070,000 And tization of sales tax revenue bonds prenium 10,827,477 An u tization of Icss on 2017B Refunding Bonds (1,807,050) Change in accred inters st 148,365 Rindpal payment for lease liabilities 578,211 Net pension asset 6,210,676 Pension change in deferred outflows of racer Imes 3,122,338 Pension change in deferred inflows of resources 1,320,194 Net other post-errployrrent benefits asset 1,644,929 Other post-enployrrent benefits change in deferred outflows of racy aces 227,415 Other post errployrrent benefits change in deferred inflows of rescy noes (1,071,371) Net adjustments 51,196,184 Some expenses reported in the statement of activities do not require the use of cuu r e, t financial resources and therefore are not reported as expenditures in governmental funds. The adjusts r rent combines the net flanges of the compensated absences. 192229 The effect of contributions and transfers between the Governmental and Business -type activities. Contribution of capital and intangible assets (13,138,929) Change in net position of goverrrnental activities page 21 $ 252,960,221 See notes to basic financial statements 29 Riverside County Transportation Connission Statement of Net Position Proprietary Fund June 30, 2022 Business -Type Activities RCTC 91 Express Lanes Enterprise Fund 15 Express Lanes Enterprise Fund Total Assets Current assets: Cash and investments $ 91,652,700 $ 4,311,343 $ 95,964,043 Receivables Acoarts 2424,536 5,902990 8,327,528 Interest 302,067 27,336 329,403 Lease - 44,403 44,403 Midatics 43,866 43,866 Due from Commission funds 2547,235 2,547,235 Due tram Enterprise funds - 4,755 4,755 Prepaid expenses 157,793 193,371 351,164 Total aarent assets 97,128,199 10,484,198 107,612397 Noncurrent assets: Restrided cash and innvestrrents Lease receivable Pension asset Oren posterrplo meet benefits assets Capital assets, net Naidepredable Depreciable and amortizable Total r u tiunent assets Total assets 96,659,743 415,964 168,933 16,252,956 229,712,374 343,209,970 440,338,169 46,950,436 143,610,179 291,175 291,175 250,886 666,850 101,891 270,824 611,755 16,864,711 367,504,944 597,217,318 415,711,087 758,921,057 426,195,285 866,533,454 Deferred outflows of resources Pension benefits 719,294 433,838 1,153,132 Other posterrployrrentbenefits 71,886 43,358 115,244 Refurxing bonds 14,784,689 - 14,784,689 Total deferred cutflois of resaaces 15,575,869 477,196 16,053,065 Total assets and deferred outflows of resources 455,914,038 426,672,481 882,586,519 Liabilities Current liabilities: Pccarits payable 10,619,333 3,251,686 13,871,019 Interest payable 1,851,551 1,286,319 3,137,870 Due toConrissianfunds 427,701 101,434 529,135 Due to Enterprise funds 4,755 - 4,755 Cflsr liabilities 537 380,035 380,572 Conpersetedabsences liability 41,117 24,797 65,914 Bads payable- due in less than aeyear 2,537,375 - 2,537,375 Total Current liabilities 15,482369 5,044,271 20,526,640 Nararnrrt liabilities: Canpersated absences liability 44,261 26,692 70,953 Pdvanoefrom other Canrissionfund 9,000,000 9,000,000 Bonds payable- due in nue than ale year 730,497,089 162,385,853 892,882,942 Total noncurrent liabilities 730,541,350 171,412,545 901,953,895 Totallia:dities 746,023,719 176,456,816 922,480,535 Deferred irrhane of resources Pension benefits 290,663 175,311 465,974 Ctherjxst errployr ent benefits 111,839 67,455 179,294 Lease revenues - 330,822 330,822 Total defend inflows ot resources 402,502 573,588 976,090 Total liabilities and defend inflows of resarces 746,426,221 177,030,404 923,456,625 Net position Net investment (deficit) in capital assets (387,552,790) 215,902,440 (171,650,350) Restricted for toll operatics 97,040,607 33,739,637 130,780,244 Total net position (deficit) $ (290,512,183) $ 249,642,077 $ (40,870,106) See notes to basic finanda'stotenerds 30 Riverside County Transportation Commission Statement of Revenues, Expenses and Changes in Fund Net Position Proprietary Fund For the Year Ended June 30, 2022 Business -Type Activities RCTC 91 Express Lanes Enterprise Fund 15 Express Lanes Enteprise Fund Total Operating revenues Tolls, penalties, and fees $ 65,119,434 $ 37,259,442 $ 102,378,876 Operating expenses Management and operational services 10,471,038 10,514,267 20,985,305 Administrative overhead 1,127,200 305,200 1,432,400 Other operating expenses 4,140,069 173,980 4,314,049 Professional services 1,751,986 499,955 2251,941 General and administrative expenses 4,323 (19,871) (15,548) Depredation and amortization 9,713,760 10,899,738 20,613,498 Total operating expenses 27,208,376 22,373,269 49,581,645 Operating income 37,911,058 14,886,173 52797,231 Nonoperating revenues (expenses) Investment eamings (loss) (3,022,688) (430,015) (3,452,703) Intcrcet expense (24,395,855) (4,859,834) (29,255,689) Cost of issuance (3,783,480) (3,783,480) I rss on refunding (6,733,6 ) (6,733,662) Cain (loss) on sale of capital assets, net (7,341,950) (7,341,950) Total nonoperating revenues (expenses) (45,277,635) (5,289,849) (50,567,484) Income before oontributrions and transfers (7,366,577) 9,596,324 2229,747 Contributions ft a r lather govemnental funds 13,138,929 13,138,929 Transfers in frunrother governmental funds 2547,235 35,380 2582,615 Transfers to other govemmental funds (230,689) (4,325,708) (4,556,397) Total contributions and transfers 2,316,546 8,848,601 11,165,147 Change in net position (5,050,031) 18,444,925 13,394,894 Net position (deficit) at beginning of year (285,462,152) 231,197,152 (54,265,000) Net position (deficit) at end of year $ (290,512,183) $ 249,642,077 $ (40,870,1(36) See notes to basic financial statements 31 Rverside County Transportation Corrrission Statement of Cash Flours Proprietary Fund For the Year Ended June 30, 2022 RCTC 91 Express Lanes Enterprise Fund 15 Express Lanes Enterprise Fund Total Cash Hors from operating activities Receipts fromasiorrersand users $ 62,741,773 $ 34,048,840 $ 96,790,613 Payments toverdas (12,923,546) (9,835,736) (22759,282) Patmentstoenployees (840,113) (485,583) (1,325,696) Payments for ROTC irderfind senAces used (979,800) (285,400) (1,265,200) Payrrenlsfor shared costs (665,945) - (665,945) Reinturserrents received far lease costs - 48,988 48,938 Net cash provided by operating activities 47,332,363 23,491,109 70,823,478 Cash Hors firm capital ad related financing activities Rindpal paid an longterm debt (635248,737) (635,248,737) Cash defeasance an Ia9-term debt (28,918,779) - (28,918,779) Interest paid an Iongtemn debt (13,998,974) (12,998,974) Loss on refudirg (6,733,622) (6,733,622) Proceeds from the issuance of Iag-term debt 655,437,555 655,437,555 Debt issuance msfs (927,067) - (927,067) Proceeds from sale of capital assets 6,623248 6,623,248 Acqusitiar of capital assets (2504,722) - (2504,722) Payrrent for acgdsitian of capital asset - (15,775) (15,775) Net cash used for capital ad related finadrg activities (26,271,098) (15,775) (26,288,873) Cash Hors from investing activities Interest (685,106) (367,719) (1,052,825) Net cash provided by investing adiviies (685,106) (367,719) (1,052,825) Nat increase in cash and cash equivalents 20,376,165 23,107,615 43,483,780 Cash and cash a idvalents at begimirg of year 169,656,613 28,208,051 197,864,664 Cash and cash egrivalants at e d of year $ 190,032,778 $ 51,315,666 $ 241,348,444 Reconciliation of cash and rash equivalents to statement of net position Cash and irsestrrents $ 91,652700 $ 4,311,343 $ 95,964,043 Add: fair value alustn t 1,720,335 53,867 1,774,222 93,373,035 4,365,230 97,738,265 Restricted cash and invest, rurls 96659,743 46,950,436 143,610,179 Total cash ad rash equivalents $ 190,032778 $ 51,315,666 $ 241,348,444 See notes to basic finanaal staterrents 32 I4verside County Transportation Comrission Staterrent of Cash Floes, Continued Proprietary Fund For the Year Ended June 30, 2022 RCTC 91 Express Lanes Enterprise Fund 15 Express Lanes Enterprise Fund Total Reconciliation d operating ir.z..r a to net cast provided by (used for) operating adivitie: Operating iru..rt $ 37,911,05E $ 14,886;173 $ 52,797,231 Pdjrstrre tstorecaroleoperaingircxnatonetcasl provided by (used far) operating activitle Depredation and arrortizalion expense 9,713,760 10, ,73E 20,613,49E (Irrueme) Decrease in vidatiore reoavable (43,866) (43,866) (Irxxe cse) Decrease in other receivables, ne (759,819) (3,772,815) (4,532,634) (Increase) Decrease in due from other f ix5 (2,547,235', (2,547,235) (Increase) Decease in prepaid asset 30,934 424,881 455,815 Increase (Decease) in persian and of sr -post employment benefits liabilities, net of deferred iterr (823,615) (571,131) (1,394,746) Increase (Decrease) in lease receivable, net of deferred item (9,511) (9,511) Income (Decrease) in accounts payable 4,360,68E 1,348,1E2 5,708,870 Increase (Decease) in due to other fund (490,907, 20,283 (470,624) I ue s a (Decsese) in oorrpereated absences liabiiiF (18,629) 40,65E 22029 Increase (De ease) in otherliabilitie - 224,651 224,651 Total acpgrre t 9,421,311 8,804,93E 18,026,247 Not cash provided try operating adivi5e $ 47,332,3E9 $ 23,491,10.E $ 70,823,47E Nxxash capital, finandng and investing activitie Amortization of bond disoxutl $ tass,227 $ $ 1,855,227 Arnatizationdbond prerriur 1,599,95E - 1,599,95E Pm tizatian of loss an bond rthednc (380,058) - (390,058) Accreted and compounded interest long-term deb 4,279,344 4,475,122 8,754,46E Carrpourded interest on advance from other Carrrission 'Vick 384,712 384,712 Net increase (decease) in the fair value d investment (1,736,437, 53,887 (1,662,550; Contribution of cspitel and intangible assets torn gwemahtal adixiitie - 13,138,92E 13,138,92.,E Trade in d axrued investment inuu refrom atter Corrrrissian fund - 35,380 35,380 See rates to basic firawaar statements 33 Riverside County Transportation Commission Notes to Basic Financial Statements June 30, 2022 Note 1. Summary of Significant Accounting Policies r - Reporting entity: The Riverside County Transportation Commission (Commission) was formed in 1976 under Division 12 (cormmendng with Section 130000) of the Califomia Public Utilities Code (PUC). The Commission is a spedal district govemed by a 34 -member board of commissioners (Board) consisting of one representative from each dty in the county, all five county supervisors, and one nonvoting state representative. The Commission provides short-range transportation planning and programming for Riverside County (County), which indudes the administration of the Local Transportation Fund (LTF) and the State Transit Assistance (STA) programs created under the Transportation Development Act (TDA) by the State of California (State). The LTF is administered by the Commission on behalf of the County. The purpose of this program is to allocate funds for public transportation needs, local streets and roads, bicycle and pedestrian facilities, and multimodal transportation terminals. The STA program allocates funds for public transportation purposes to those geographic areas with spedal public transportation needs, which cannot be rret otherwise. On November 8, 1988, the Commission was empowered by the voters of the County, under Ordinance No. 88-1 (1989 Measure A), to collect a one-half of one percent sales tax for the purpose of improving the transportation system of the County. Measure A was enacted, in part, pursuant to the provisions of Division 25 (cammrencing with Section 240000) of the California Public Utilities Code and Section 7252.22 of the Revenue and Taxation Code. On November 12, 2002 Riverside Counts voters approved a 30 - year renewal of Measure A under Ordinance No. 02-001 (2009 Measure A). The voter action ensured the replacement of the 1989 Measure A program when it expired in 2009 with a new 30 -year program that continues funding transportation improvements until June 2039. In connection with the 2009 Measure A program, the County and cities in the VVestern County area implemented a Transportation Uniform Mitigation Fee (TUMF) program to fund a regional arterial system to handle the traffic demands in the VVestem Riverside County (Westem County) area as a result of future development. Under the 2009 Measure A program, the Commission shall receive the first $400 million of TUMF revenues to fund the regional arterial projects and new Community Environmental Transportation Acceptability Pror ss (CETAP) corridors induded in the 2009 Measure ATransportation Improvement Ran. Under the Memorandum of Understanding (MOU), the majority of net revenues are allocated in equal amounts to the Commission for regional arterial projects and to VVestem Riverside Council of Governments (VVRCOG) for local arterial projects; a small percentage is allocated for public transit. In September 2008, the Commission approved an amendment to the MOU whereby the $400 million cap was lifted and the Conmmission will continue to receive its share of TUMF revenues indefinitely. In August 2008, the State amended the Commission's authority under the PUC to indude authorization to set, levy and collect tills, user fcce, or other similar charges, payable for use of the toll lanes and other facilities on the portion of State Highway Route 91 (SR -91) between the Orange County and Riverside County line to the west and Interstate 15 (1-15) to the east and to issue bonds or other obligations payable from the proceeds of such tolls and other revenues that are pledged. In March 2017, the Commission achieved substantial completion of the SR -91 corridor improvement project (91 Project) and opened the ROTC 91 Express Lanes. In September 2008, the State amended the Commission's authority under the State's Streets and Highways Code (Sections 149.7 through 149.8) to indude authorization to set, levy and collect tills, user fees, or other similar charges, payable for use of high- c>ca apancy toll lanes and other facilities in the 1-15 corridor in Riverside County and to issue bonds or other obligations payable from the proceeds of such tolls and other revenues that are pledged. The Commission oommrmenced the design -build phase of the 1-15 Express Lanes proect in 2017; in April 2021, the Commission achieved substantial completion of the 1-15 Express Lanes project and opened the 15 Express Lanes. 34 Riverside County Transportation Commission Notes to Basic Financial Statements June 30, 2022 Note 1. Surmnary of Significant Accounting Policies, Continued Accounting principles generally accepted in the United States require that the reporting entity include the primary government, organizations for which the primary government is financially accountable, and other organizations for which the nature and significance of their relationship with the primary government are such that exdusion would cause the reporting entitys financial statements to be msleading or incomplete. The basic financial statements include all funds of the Corrrrission induding those of the Service Authority for Freeway Emergencies (SAFE), a component unit, for which the Commission is considered financially accountable. SAFE was created under Chapter 14 (commencing with Section 2550) of Division 3 of the California Streets and Highways Code and Sections 2421.5 and 9250.1 of the Vehide Code. SAFE receives monies from fees levied on registered vehides to be used to implement and maintain an emergency motorist aid system, as specified, on portions of the Califomia Freeway and Expressway System in the County. The governing body of SAFE is substantially identical to that of the Comrrission, and management of the Commission has operational responsibility for SAFE. SAFE is presented as a special revenue fund. Separate financial staterrents are not issued for SAFE. During the year ended June 30, 2022, the Commission adopted Governmental Accounting Standards Board (GASB) Statement No. 87, Leases. There are many other governmental agencies, including the County of Riverside, providing services within the area served by the Commission. These other governmental agencies have independently elected governing boards and consequently are not under the direction of the Commission. Financial information for these agencies is not induded in the accompanying financial statements. Basis of presentation: The Commission's basic financial statements consist of government -wide financial staterrents, induding a statement of net position and a statement of activities, and fund financial staterrents which provide a more detailed level of financial information. Govemrrent-wide staterrents: The statement of net position and the statement of activities report information on all of the activities of the Commission. The effect of interfund activity has been removed from these statements; however, interfund services provided and used are not eliminated in consolidation. These statements report governmental activities, which normally are supported by taxes and intergovernmental revenues, and are reported separately from business -type activities, which rely to a significant extent on charges and fees for services. The statement of activities demonstrates the degree to which the program expenses of a given function are offset by program revenues. Program expenses include direct expenses, which are dearly identifiable with a specific function, and allocated indirect expenscs. Program revenues indude 1) charges to customers or applicants who purchase, use, or directly benefit from goods, services, or privileges provided by a given function and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function. Taxes and other intemally dedicated resources, which are properly not induded among program revenues, are reported instead as general revenues. Fund financial statements: The fund financial staterrents provide information about the Commission's governmental and proprietary funds; the Commission has no fiduciary funds. The emphasis of fund financial statements is on major governmental and proprietary funds, each displayed in a separate column. The Commission has categorized the Corr erdal Paper, Bonds Capital Projects fund and Debt Service fund as major funds for public interest reasons. The Conrrrission believes that these judgmentally determined major funds are particularly important to the financial statement users. All remaining governmental funds not reported as major funds are aggregated and reported as nonmajor funds. 35 Riverside County Transportation Commission Notes to Basic Financial Statements June 30, 2022 Note 1. Sunmary of Significant Accounting Policies, Continued The Commission reports the following major govemmental funds: General Fund: The General Fund is the general operating fund of the Commission and accounts for financial resources not required to be accounted for in another fund. Measure A Western County Special Revenue Fund: This fund accounts for the revenues from sales taxes whidh are restricted to expenditures for 1989 Measure A and 2009 Measure A Western County programs. Measure A Coachella Valley Special Revenue Fund: This fund accounts for the revenues from sales taxes which are restricted to expenditures for 2009 Measure A Coachella Valley programs. Transportation Uniform IVitigation Fee Special Revenue Fund: This fund accounts for TUMF revenues, which are restricted to expenditures for Western County regional arterial and CETAP projects. Local Transportation Fund: This special revenue fund accounts for the one -quarter percent of the state sales tax collected within the County under TDAfor planning and programming, bicycle and pedestrian facilities, and transit operations including the Commission's corrmuter rail operations. State Transit Assistance Special Revenue Fund: This fund is used to account for revenues from sales taxes on diesel fuel restricted for transit projects. SB 132 Special Revenue Fund: This fund is used to account for program revenues allocated by the State for the Riverside County Transportation Efficiency Corridor. The program comp isce five projects in northwest Riverside County. Cormmrcial Paper Capital Projects Fund: This fund records proceeds from the issuance of commercial paper notes and the use of these proceeds for capital projects induded in the 2009 Measure A Bonds Capital Projects Fund: This fund records proceeds from the issuance of sales tax and toll revenue bonds and the use of these proceeds for capital projects included in the 2009 Measure A Debt Service Fund: This fund accounts for the resources accumulated and payments made for principal and interest on the sales tax and toll revenue bonds. The Commission reports the following major proprietary fund: RCTC 91 Express Lanes Enterprise fund: This fund accounts for toll and non -toll revenues earned on the ROTC 91 Express Lanes that extend on SR -91 from the Rverside&Orange County line to 1-15. These revenues are restricted to pay operations and maintenance costs, repair and rehabilitation costs, debt service, and other in accordance with the toll bond indenture. 15 Express Lanes Enterprise fund: This fund accounts for toll and non -toll revenues eamed on the 15 Express Lanes. The 15 -mile stretch includes two lanes in each direction of the center median along 1-15 corridor between Cajalco Road in Corona and SR -60 in Jurupa Valley. These revenues are restricted to pay operations and maintenance costs, repair and rehabilitation costs, debt service, and other in accordance with the toll bond indenture. Measurement focus and basis of accounting: The govemment-wide financial statements and proprietary fund financial statements are reported using the econorriic resources measurement focus and the accrual basis of accounting. Revenues are recorded when earned, and expenscs are recorded when a liability is incurred, regardless of the tiring of related cash flows. Toll revenues are recognized when customers utilize the toll road facility and payment is collected. Grants and similar items are recognized as revenue as soon as all eligibility requirements imposed by the provider have been met. 36 Riverside County Transportation Commission Notes to Basic Financial Statements June 30, 2022 Note 1. Sunmary of Significant Accounting Policies, Continued Governmental fund financial statements are reported using the current finandal resources moceurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both moavurable and available. Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the Commission considers revenues to be available if they are collected within 180 days of the end of the current fiscal period. Expenditures generally are recorded when a liability is incurred; however, prindpal and interest expenditures on long -temp debt as well as compensated absences, leases, and daims and judgments are recorded only when payment is due. Those revenues susceptible to accrual indude sales taxes collected and held by the State at year-end on behalf of the Commission, TUMF, intergovernmental revenues when all applicable eligibility requirements have been met, interest revenue, and vehide registration user fees, and charges for services. Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and expenses generally result from providing services in connection with a proprietary funds principal and ongoing operations. The principal operating revenues of the Commission's proprietary fund are charges for services. Operating expenses for the proprietary fund indude the cost of services, administrative expenses, and depredation and amortization on capital and intangible assets. Al revenues and expen not meeting this definition are reported as nonoperating revenues and expenses. Violations: Vidations that the Commission anticipates to collect consist of uncollected violation tolls and penalties. Unpaid vitiations of the ROTC 91 Express Lanes and 15 Express Lanes in the amounts of $59,410,312 and $17,580,047, respectively, as of June 30, 2022 are not recognized as revenue until payment is received. Unpaid vitiations will remain recorded for a period of four years in accordance with the statute of limitations, at which time, they will be deemed uncollectible. Cash and investments: The Commission maintains cash and investments in accordance with an investment policy adopted initially by the Board in September 1995, and rrrst recently amended in December 2021. The investment policy complies with, or is more restrictive than, applicable state statutes. This investment pdicy requires the Commission's investment program to meet three criteria in the order of their importance: safety, liquidity, and return on investments. Investments of bond and commercial paper proceeds as permitted by the applicable debt documents are maintained by U.S. Bank, as trustee or custodial bank, and the eamings for each bond and con7nerdal paper issue are accounted for separately. Cash from other Commission revenue sources is commingled for investment purposes, with investment eamings allocated to the different funds based on average monthly dollar balances in the funds. The Corrrrission's investment policy is surrrrrarized in the table below, investments held by bond trustees are governed by the provisions of the Commission's bond indentures. Other investments pemitted by the Califomia Govemment Code (Cade) are permitted but only with prior Board authorization; securities that could result in zero interest accrual if held to maturity are ineligible. 37 Riverside County Transportation Commission Notes to Basic Financial Statements June 30, 2022 Note 1. Sunmary of Significant Accounting Policies, Continued United States (U.S.) Treasury obligations Federal agency securities State/Municipal obligations Mortgage and asset -backed securities Repurchase agreements U.S. corporate debt Commercial paper notes Banker's acceptances Money market mutual funds Riverside County Pooled Investment Fund (RCPIF) Local Agency Investrrent Fund (LAIF) Negotiable certificates of deposit Federally insured certificates of deposit Collateralized certificates of deposit Time deposits Maximum Maximum Maximum Effective Percentage Investment in One Maturi of Portfolio Issuer 5 years 5 years 5 years 5 years 30 days 5 years 270 days 180 days Not applicable Not applicable Not applicable 1 year 1 year 1 year 5 years None None 25% 10% None 25% 25% 40% 20% None N/A 30% 20% 15% None None None 10% 10% 10% 10% 10% 30% 10% Set by RCPIF Set by LAIF 10% 10% 10% 10% Not applicable Not applicable A1/A+ A3/A;/A- A A1/A+ A Not applicable Not applicable Not applicable Not applicable P -1/A -1/F-1 Not applicable Not applicable Not applicable LAIF is regulated by Code Section 16429 and is under the management of the State Treasurer with oversight provided by the Local Agency Investment Advisory Board. There is a $65 million deposit limit on regular LAIF accounts. Oversight of the RCPIF is conducted by the County Treasury Oversight Committee. All investments, except for those related to bond rcecrve funds, are subject to a maximum r r Futurity of five years unless specific direction to exceed the limit is given by the Board. LTF moneys are legally required to be deposited in the RCPIF. The RCPIF and the LAIF are caned at fair value, or the value of each participating dollar as provided by the RCPIF and LAIF, respectively. The fair value of the Commission's position in the RCPIF and LAIF is the same as the value of the pod shares. The poled funds are not subject to Level 1, 2, or 3 of the fair value hierarchy prescribed by GASB Statement No. 72, Fair Value Measurement and Application. Investments in U.S. Treasury, federal agency, mortgage and asset -backed, municipal, corporate, negotiable certificates of deposit, and commercial paper securities are carried at fair value based on quoted market prices. Money market mutual funds are carried at fair value based on each fund's share price. Bank balances are secured by the pledging of a pod of eligible securities to cdlateralize the Commission's deposits with the bank in accordance with the Code. Cash and cash equivalents: For the purposes of the statement of cash flows, the Commission considers all short-term investments with an initial rrralurity of three months or less to be cash equivalents. All deposits, commercial paper, money market funds, certificates of deposit, and the share of RGPF represent cash and cash equivalents for cash flow purposes. Accounts receivable: Accounts receivable consist primarily of Measure A and LTF sales tax revenues from the California Department of Tax and Fee Administration on all taxable sales within the County of Riverside, Califomia through June 30, 2022. Interfund transactions: Wring the course of operations, numerous transactions occur between individual funds involving goods provided or services rendered. There are also transfers of revenues from funds authorized to receive the revenue to funds authorized to expend it. Outstanding interfund balances are reported as due from/to other funds; intemal financing balances are reported as advances to/from other funds. Any residual balances outstanding between the governmental activities and business - type activities are reported in the government wide financial statements as "intemal balances". Prepaid expenditures/expens and other assets: Certain payments to vendors and condemnation payments with the State, which are related primarily to the 91 Project, reflect costs applicable to future accounting periods and are recorded as prepaid expenditures/expen scs using the consumption method in both the government -wide and fund financial statements. 38 Riverside County Transportation Commission Notes to Basic Financial Statements June 30, 2022 Note 1. Sunmary of Significant Accounting Policies, Continued Restricted investments held by trustee: Restricted investments held by trustee represent unexpended bond proceeds, interest eamings thereon, and capitalized interest and reserve amounts for bonds. Under the related bond resolutions and indentures, any remaining bond proceeds are restricted for the use of future construction improvements to the respective projects, for debt service, or for reserve requirements in accordance with applicable debt covenants. Capital assets: Capital assets consisting of land and land improvements; construction in progress; construction and rail easements; buildings; rail stations; rail tracks; office improvements; office fumiture, equipment, and vehides; development in progrns ;; toll infrastructure; right to use assets; intangible assets, including a toll fadlity franchise; and transponders are reported in applicable governmental or business -type activities in the government -wide finandal statements. Capital assets are defined by the Commission as assets with an initial, individual cost of more than $5,000 and an estimated useful life in excess of three years and are primarily induded within the function of current expenditures in the governmental fund finandal statements. Such assets are recorded at historical costs or estimated historical costs if purchased or constructed. Donated capital assets are recorded at acquisition value at the date of donation. Highway construction and certain purchases of right of way property, for which title vests with the Califomia Department of Transportation (Caltrans), are induded in highway program expenditures. Infrastructure consisting primarily of highway construction and right of way acquisition is generally not recorded as a capital asset, because the Commission does not have title to such assets or rights of way. However, costs related to the development of tilled express lanes are recorded as land and land improvements and construction in progress. The ousts of normal maintenance and repairs that do not add to the value of the asset or r rralerially extend the life of the asset are not capitalized. Rail stations, rail tracks, temporary construction easements, buildings, office improvements, fumiture and equipment, vehides, toll infrastructure, intangible assets, and transponders are depredated and amortized using the straight-line method over the following estirrtiled useful lives: Rail stations 10 to 30 years Rail tracks 30 years Terrporary construction easements 1 to 3 years Buildings 10 to 20 years Office improvements 7 to 10 years Furniture and equiprrent 3 to 5 years Vehides 5 years Tdl facility franchise 50 years Toll infrastructure 5 to 10 years Transponders 5 years Project costs that have been incurred for the tilled express lanes projects, consisting of the 91 Project and the 1-15 Express Lanes project, and are expected to remain the Commission's assets, are capitalized upon completion as intangible assets that will be amortized over the life of the toll facility franchise with Caltrans. These capitalizable costs have been annulated in the capital assets as land and land improvements and construction in progress. The costs of the tilled express lanes projects that are not capitalized are expensed as incurred based on management's estimation which is generally based upon the allocation of Measure A and other funding sources, induding toll -supported debt. As of June 30, 2022, the estirrfled project costs incurred but not capitalized related to the 91 Project is primarily right of way, or approxir rrately $113.5 million. Al costs related to the 1-15 Express Lanes project are considered capitalizable. The right to use assets are initially measured at an amount equal to the initial measurement of the related lease liability plus any lease payments made prior to the lease temp, less lease incentives, and plus ancillary charges necessary to place the lease asset into place. The right to use assets are amortized on a straight-line basis over the life of the related lease. 39 Riverside County Transportation Commission Notes to Basic Financial Statements June 30, 2022 Note 1. Sunmary of Significant Accounting Policies, Continued In May 2012 the Commission entered into a toll facility agreement with Caltrans and obtained authority to toll the SR -91 from the Orange/Riverside County line to 1-15. The Commission's 91 Project included the RCTC 91 Express Lanes, which opened on March 20, 2017. The toll facility is amortized over the remaining life of the toll fadlity agreement through March 2067. In September 2016 the Commission entered into a toll fadlity agreement with Caltrans and obtained authority to toll the 1-15 from Cajalco Road in Corona to SR -60 in Jurupa Valley. The Commission's 1-15 Express Lanes Project induded the 15 Express Lanes, which opened to motorists on April 10, 2021 and commenced tolling on April 14, 2021. The toll fadlity is amortized over the remaining life of the toll fadlity agreement through April 2071. Corrpensated absences: Vacation hours accumulated and not taken at year-end is reported as a long-term liability in the government -wide and proprietary fund financial statements. Sick leave is recorded as an expenditure or expense when taken by the employee. Employees with continuous five years of service have the option of being paid for sick leave accumulated in excess of 240 hours at a rate of 50% (i.e., one hour's pay for every two hours in exc:ess of 240). Any sick leave in excess of 240 hours is accrued at fiscal year-end, and a liability is reported in the govemment-wide and proprietary fund financial statements. Sick leave that is due and payable at year-end is reported as an expenditure and a fund liability of the General fund. Pensions: For purposes of measuring the net pension asset and deferred outflows/inflows of resources related to pensions and pension expense, information about the fidudary net position of the Commission's California Public Errployees' Retirement System (CalPERS) plans (Plans) and additions to/deduction from Plans' fidudary net position have been detemined on the same basis as they are reported by CaIPERS. For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with benefit terms. Investments are reported at fair value. Post -employment Benefits Other Than Pensions: For purposes of measuring the net other post -employment benefits (OPEB) asset, deferred outflows/inflows of resources related to the OPEB asset and OPEB expense, information about the fidudary net position of the Commission's OPEB plan, and additions to/deductions from the OPEB fidudary net position have been determined on the same basis as they are reported by Califomia Er i ployers' Retiree Benefit Trust (CERBT) administered by CaIPERS. For this purpose, benefit payments are recognized when due and payable in accordance with benefit terms. Investments are reported at fair value, except for money markets and participating interest -earning investment contracts that have a rrurlurity at the time of purchase of one year or less, which is reported at cost. Risk management: The Commission is exposed to various risks of lass related to workers' compensation; torts; theft of, damage to, or destruction of assets; and errors or omissions. The Commission protects itself against such losses by a balanced program of risk retention, risk transfers, and the purchase of conlTerdal insurance. Less exposures retained by the Commission are treated as normal expenditures and indude any kiss contingency not covered by the Commission's purchased insurance polices. Construction projects and rail properties are protected through a combination of oormherdal insurance, insurance required of Commission consultants, and a self-insurance fund established by the Southern Califomia Regional Rail Authority (SCRRA). Settled daims have not exceeded insurance coverage in any of the past three fiscal years. The ROTC 91 Express Lanes and 15 Express Lanes Enterprise funds have purchased commercial property insurance, induding basins interruption, earthquake and flood coverage related to the ROTC 91 Express Lanes and 15 Express Lanes. Deferred outflows of resources: In addition to assets, the statement of net position reports a separate section for deferred outflows of resources. This separate financial statement element represcnts a consumption of net assets that applies to future periods and will not be recognized as an outflow of resources, or expenditure, until then. The Commission has the following items — loss on refunding of bonds, net differences between projected and actual pension eamings, pension contributions subsequent to measurement date, differences between expected and actual pension experiences, the proportionate share of pension contributions, pension changes in Commission's proportion, changes in OPEB assumptions, and OPEB contributions subsequent to measurement date — which qualify for reporting in this category in the applicable column for governmental and business -type activities on the statement of net position. 40 Riverside County Transportation Commission Notes to Basic Financial Statements June 30, 2022 Note 1. Sunmary of Significant Accounting Policies, Continued Deferred inflows of resources: In addition to liabilities, the statement of net position reports a separate section for deferred inflows of resources. This separate financial statement element represents an acquisition of net assets that applies to future periods and will not be recognized as an inflow of resources, or revenue, until then. The Commission has the fdlowing items — leases, changes in pension assumptions, pension changes in Commssion's proportion, pension changes in Conrrrission's proportion, changes in OPEB assumptions, differences between expected and actual OPEB experiences, and net differences between projected and actual eamings on OPEB plan investments — which qualify for reporting in this category in the applicable governmental and business -type activities on the statement of net position. At the fund level, the Commission has deferred inflows of resources related to interest earned but not available. Fund equity: In the fund financial statements, the governmental funds report fund balances in various categories based on the nature of any limitations requiring the use of the resources for specific purpos : Nonspendable fund balances cannot be spent, because they are in nonspendable form such as prepaid expenditures and leases or are required to be maintained intact. Restricted fund balances are restricted for specific purposes by third parties or enabling legislation. Committed fund balances include amounts that can be used only for specific purposes determined by adoption of a resolution of the Board. These cormitted amounts cannot be used for any other purpose unless the Commission removes or changes the specified use through the same type of formal action taken to establish the comrritrr ent. Assigned fund balances comprise amounts intended to be used by the Commission for specific purposes but are not restricted or cons itted. The Board delegates the authority to assign amounts to be used for specific purprnce to the Chief Finandal Officer. Assignments generally only exist temporarily; an additional action does not have to be taken for the removal of an assignment. Unassigned fund balance is residual positive net resources of the General Fund in excess of what can properly be dassified in one of the other four categories. In all other governmental funds, it is the negative residual fund balance of any other governmental fund that cannot be eliminated by offsetting assigned fund balance amounts. When both restricted and unrestricted resources are available for an incurred expenditure, it is the Commssion's policy to spend restricted resources first and then unrestricted resources, as necessary. When unrestricted resources are available for an incurred expenditure, it is the Commission's policy to use corrinitted amounts first, followed by assigned amounts, and then unassigned amounts. In June 2012, the Commission adopted a resolution to establish a policy on reporting and dassifying fund balance in the General fund. Net position (deficit): In the government -wide and proprietary fund financial statements, net position (deficit) represents the difference between assets and deferred outflows of resources and liabilities and deferred inflows and is classified into three categories: Net investment (deficit) in capital assets consists of capital assets, net of accumulated depredation and amortization, reduced by the outstanding balances of any borrowings used for the acquisition, construction, or improvement of those assets and excludes unspent debt proceeds. Restricted -net position represents restricted assets less liabilities and deferred inflows of resources related to those assets. Restricted assets are recorded when there are limitations imposed by creditors (such as through debt covenants), contributions, or laws and regulations of other governments or constraints imposed by law through constitutional provisions or through enabling legislation. 41 Riverside County Transportation Commission Notes to Basic Financial Statements June 30, 2022 Note 1. Summary of Significant Accounting Policies, Continued Unrestricted —(deficit) represents the amount of unrestricted resources that will need to be provided for in future periods. Wien both restricted and unrestricted resources are available for use, it is the Commission's policy to use restricted —net position resources first and then unrestricted —met position resources, as they are needed. Administration expenditures: The Commission's staff and resources are used in the performance of its responsibilities relating to the activities of the Commission and its corrponent unit. Accordingly, the Commission allocates salaries and benefits to each applicable fund on the basis of actual hours spent by activity, and other indirect overhead is allocated based on a systematic basis. Administrative salaries and benefits, net of adrrinistrative cost allocations of $1,800,143 allocated to Measure A in 2022 were less than 1% of revenues and in compliance with the law. Use of estimates: The preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect certain reported amounts and disdosures during the reporting period. As such, actual results could differ from those estimates. Note 2. Cash and Investments 1 Cash and investrrents at June 30, 2022 consist of the following: Restricted Cash Investments Total Cash in bank $ 24,638,763 $ — $ 24,638,763 $ 502,883 $ Petty cash 1,018 — 1,018 - RCPIF — 995,595,777 995,595,777 - Operations pooled investrrents — 54,099,432 54,099,432 — Investments with fiscal agents — — — - Total cash and investrrents $ 24,639,781 $ 1,049,695,209 $ 1,074,334,990 $ 502,883 $ 175,513,715 $ 176,016,598 $ 1,250,351,588 Total cash and investments are reported in the following funds: — $ 502,883 175,513,715 175,513,715 Unrestricted cash and investments Govemrrental funds $ 978,370,947 Enterprise fund 95,964,043 Subtotal 1,074,334,990 Restricted rash and investments Govemrrental funds 32,406,419 Enterprise fund 143,610,179 Subtotal 176,016,598 Total cash and investments $ 1,250,351,588 $ 25,141,646 1,018 995,595,777 54,099,432 175,513,715 Restricted cash and investments at June 30, 2022 represent investments held by bond trustees for project costs and debt service and for cash held by a bank for the 15 Express Lanes toll customer deposits. 42 Riverside County Transportation Commission Notes to Basic Financial Statements June 30, 2022 Note 2. Cash and Investments, Continued w Fair Value Hierarchy: The Commission categorizes its fair value measurements within the fair value hierarchy established by generally accepted accounting principles. The hierarchy is based on the valuation inputs used to measure fair value of the assets. Level 1 inputs are quoted prices in an active market for identical assets; Level 2 inputs are based on similar observable assets either directly or indirectly, which nay include inputs in markets that are not considered to be active; and Level 3 inputs are significant unobservable inputs (the Commission does not value any of its investments using Level 3 inputs). The following is a sur r rr>dry of the fair value hierarchy of the fair value of investments of the Commission as of June 30, 2022: Investments by fair value level: Investments subject to fair value hierarchy: U.S. Troosury obligations Mortgage and asset -backed securities Corporate notes Money market mutual funds U.S. agency securities Municipal bonds Corry erdal paper notes Negotiable certificates of deposit Total investments nxured at fair value Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Investments not subject to fair value hierarchy: RCPI F Total investments $ 57,889,926 $ 57,889,926 $ 38,584,562 29,396,647 84,785,339 84,785,339 4,687,623 12,994,621 1,049,528 224,901 38,584,562 29,396,647 4,687,623 12,994,621 1,049,528 224,901 229,613,147 $ 142,675,265 $ 86,937,882 995,595,777 $ 1,225,208,924 Investments classified in Level 1 of the value hierarchy, valued at $143,178,148 are valued using quoted prices in active markets. Mortgage and asset -backed securities totaling $38,584,562, corporate notes totaling $29,396,647, U.S. agency seci arities totaling $4,687,623, municipal bonds totaling $12,994,621, commercial paper totaling $1,049,528, and negotiable certificates of deposit totaling $224,901 in 2022, dassifed in Level 2 of the fair value hierarchy, are valued using matrix pridng techniques maintained by various pricing vendors. Matrix pridng is used to value securities based on the securities' relationship to benchmark quoted prices. Fair value is defined as the quoted market value on the last trading day of the period. These prices are obtained from various pridng sources by the custodian bank. 43 Riverside County Transportation Commission Notes to Basic Financial Statements June 30, 2022 Note 2. Cash and Investments, Continued INF As of June 30, 2022, the Commission had the following investments: Unrestricted: RCPI F Operations pooled investments: Corporate notes Money market mutual funds Municipal bonds U.S. agency securities U.S. Treasury obligations Total unrestricted investments $ 995,595,777 $ 1,014,566,542 12,256,875 1,231,112 7,155,170 2,724,522 30,731,753 12,671,469 1,231,746 7,300,458 2,834,360 31,793,353 $ 1,049,695,209 $ 1,070,397,928 Restricted: Negotiable certificates of deposit $ 224,901 $ 225,000 Commercial paper notes 1,049,528 1,049,140 Corporate notes 17,139,773 17,434,915 Money market mutual funds Mortgage and asset -backed sere rrities Municipal bonds U.S. agency securities U.S. Treasury obligations Total restricted investments 83,554,228 83,554,228 38,584,562 39,162,400 5,839,452 5,902,764 1,963,101 2,035,548 27,158,170 27,626,436 Interest Rate Range Maturity Range 0.125%-4.700% 7/1/22— 6/30/27 V4kighted Average Maturity (Year) 1.190 0.409%— 3.966% 8/16/22 — 6/22/26 2.220 0.010— 0.980% N/A 0.386%— 3.307% 7/1/22 — 6/15/25 0.481%— 3.319% 1/25/23-2/12/26 0.127%-2.///% 1/31/23-5/15/25 23 days or 0.063 0.940 1.725 1.554 Unrestricted investment portfolio weighted average 1.282 $ 175,513,715 $ 176,990,431 0.202% 0.000% 0.000%-4.081% 0.O10-0.980% 0.170%— 5.909% 0.453%-4.199% 0.311%— 3.994% 0.000°k-2.289% 9/27/22 7/5/22 — 7/15/22 7/1/22 —11/20/45 N/A 7/25/22 — 9/16/55 7/1/22 — 6/1/45 10/27/23-11/16/28 9/30/22 — 8/15/30 0.244 0.029 1.318 23 days or 0.063 4.866 2.436 2.704 1.541 Restricted investment portfolio weighted average 1.650 The weighted average maturity is calculated using the investment's effective duration weighted by the investment's fair value. As of June 30, 2022, mortgage and asset -backed securities totaled $38,584,562. The underlying assets are consumer receivables that include credit cards, auto//equiprrent, and home loans. The securities have a fixed interest rate and are rated AANAaa by at least two of the three nationally recognized statistical rating organizations. Intcrcst rate risk: While the Commission does not have a formal policy related to the interest rate risk of investments, the Commission's investment policy follows the Code as it relates to lirrits on investment maturities as a means of managing exposure to fair value losses arising from increasing interest rates. In accordance with the Commssion's investment policy, restricted investments are invested in accordance with the maturity provisions of the specific bond indenture, which may extend beyond five years. Custodial credit risk: Custodial credit risk for deposits is the risk that, in the event of the failure of a depository financial institution, a govemrrtent will not be able to recover its deposits or will not be able to recover collateral securities that are in the possession of an outside party. The custodial credit risk for investments is the risk that, in the event of the failure of the counterparty (e.g., broker -dealer) to a transaction, a government will not be able to recover the value of its investment or collateral securities that are in the possession of another party. The Commission's investment policy requires that a third -party bank trust department hold all securities owned by the Conrrrission. All trades are settled on a delivery versus payment basis through the Commission's safekeeping agent. 44 Riverside County Transportation Commission Notes to Basic Financial Statements June 30, 2022 Note 2. Cash and Investments, Continued The Commission has deposits with a bank balance of $24,638,763 with a financial institution; bank balances over $5,000,000 are swept daily into a money market account. Of the bank balance, up to $250,000 is federally insured under the Federal Depository Insurance Corporation with balances in excess of $250,000 cdlateralized in accordance with the Code; however, the collateralized securities are not held in the name of the Commission. Credit risk: The Commission's investment policy as well as the specific bond indentures set rrinimum act -Potable credit ratings for investments from any of the three nationally recognized statistical rating organizations. The following is a sur n r ary of the credit quality distribution and concentration of credit risk by investment type as a percentage of each categorys fair value at June 30, 2022; securities denoted as NR are not rated by one of the nationally recognized statistical rating organizations. %of Portfolio RCPIF Negotiable certificates of deposit Deposit Co7rrerdal paper notes Various Various Corporate Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Money market mutual funds Funds Aaa bf A-1 A-2 A-1 P-2 P-1 81.23% 0.02% 0.03% 0.06% Al A 0.28% Al A- 0.22% Al A+ 0.24% Al M 0.30% Al AA 0.17% Al BBB+ 0.08% P2 A 0.12% A2 A- 0.07% A2 A+ 0.07% A2 BBB+ 0.02% A3 Ak 0.02% A3 A+ 0.04% A3 BBB+ 0.03% AA2 AA 0.04% AA2 AA,- 0.08% AAA AA 0.02% AAA AA+ 0.02% AAA AAA 0.14% AAA N/A 0.19% BAA1 BBB 0.15% BAA1 BBB+ 0.03% NR AAA 0.07% /!ao of AAAm 6.95% Mortgage and asset -backed securities Securities NR AA2 0.03% Securities NR AAA 0.40% Securities A-1+ P-1 0.01% Securities A-1+ NR 0.01% Securities AA AAA 0.04% Securities AA+ NR 1.52% Securities AA+ NR 0.36% Securities AAA AAA 0.71% Securities AAA NR 0.03% Securities P-1 F1+ 0.01% Securities NR NR 0.02% 45 Riverside County Transportation Commission Notes to Basic Financial Statements June 30, 2022 Note 2. Cash and Investments, Continued S&P %of Portfolio Municipal bonds Alameda County Joint Powers Authority Bay Area Toll Authority Toil Bridge Califomia State University Oty of Corona Qty of Dallas Area Rapid Transit City of F-buston Airport System Qty of San Antonio Oty of San Diego Redevelopment Agency Successor Qty of San Francisco Redevelopment Agency Contra Costa Community College District County of Riverside County of Riverside County of San Dego Regional Airport Authority Forsyth County, Georgia School District Glendale Unified School District Golden State Tobacco Securitization Corporation Los Altos Scholl District Los Angeles Municipal Irrpact Corporation Mountain ViewWisrrlen School District Port Authority of New York and New Jersey San Bernardino Community College I]strct San Diego Community College District Southem Califomia Public Posner Authority State of Connecticut State of Massachusetts State of Massachusetts Clean Energy Cooperative Corporation State of Michigan Building Authority State of New York Domitory Authority State of New York State of New York Housing Finance Authority State of Oklahoma Capitol Irrpact Authority State of Oregon State of Texas University of Washington Upper Santa Clara Valley Joint Power Authority Virginia Port Authority U.S. agency notes Notes AAA AA+ 0.23% Notes AAA NR 0.04% Notes NR AA+ 0.11% U.S. Treasuries Treasury NR NR 4.73% Total 100.00% AA1 M+ 0.05% AA3 AA 0.05% AA2 M 0.05% NR M+ 0.04% AA2 M+ 0.04% Al A 0.01 AAA AAA 0.05% NR M 0.02% NR M 0.04% AA1 AA+ 0.07% NR M- 0.03% Al M 0.05% A2 NR 0.02% AAA AAA 0.02% AA1 NR 0.03% AM A+ 0.03% NR AA+ 0.03% NR M 0.04% AAA M+ 0.02% AA3 M 0.01% AA1 M 0.02% AAA AAA 0.01% NR M 0.01% AA3 A+ 0.04% NR NR 0.02% Al NR 0.02% AA2 NR 0.02% NR M+ 0.03% AA2 M 0.01% VMIG1 NR 0.02% NR A4 0.04% AA1 M+ 0.02% VMIG1 A-1+ 0.01% AAA AA+ 0.01 NR M 0.01 AA1 M+ 0.07% Concentration of credit risk: The Commssion's investment policy places a limit of 10% on the amount of investment holdings with any one non-U.S. Government or non-federal agency issuer. As of June 30, 2022, the Commission did not have investments in any one issuer that represent more than 5% of the Commission's total investments. 46 Riverside County Transportation Commission Notes to Basic Financial Statements June 30, 2022 Note 3. Advances The Commission approved interest -bearing advances, which may be funded by debt proceeds, to the Coachella Valley Association of Governments (CVAG) in the amount of $43,300,000. CVAG pledged its share of 2009 Measure A highway and regional road revenue allorations in accordance with repayment terms specified in each agreement for actual advances. Repayment amounts are withheld from revenue allocations on a monthly hasis. The final maturities of the CVAG advances are due on or before September 1, 2029. Interest rates range from .910% to 7.307%, exduding the portion of rash subsidy payments (as discussed in Note 6) that may be received by CVAG to reduce its repayment obligations. The outstanding interest -bearing advances, induding capitalized interest of $539,819, as of June 30, 2022 were $17,480,280. Note 4. I PaGP Receivable u For the year ended June 30, 2022, the financial statements include the adoption of GASB Statement No. 87, Leases. The primary objective of this statement is to enhance the relevance and consistency of information about govemrrents' leasing activities. This statement establishes a single model for lease accounting based on the principle that loam are financings of the right to use and an underlying asset. Under this statement, a lessee is required to recognize a lease liability and an intangible right to use lease asset, and a lessor is required to recognize a lease receivable and a deferred inflow of resources. On 6/2312015, the Commission entered into a 60 -month lease as lessor for the use of 6001 Pedley Road, Jurupa Valley, Ca. An initial lease receivable was recorded in the amount of $391,784. As of 6/30/2022, the value of the lease receivable is $372,687. The lessee is required to make monthly fixed payments of $2,251. The lease has an interest rate of 2.2610%. The value of the deferred inflow of resources as of 6/30/2022 was $363,694, and the Commission recognized lease revenue of $28,090 during the fiscal year. The lessee has three extension option(s), each for 60 months. On 10/10/2016, the Comrrission entered into a 240 -month lease as lessor for the use of real property adjacent to the SR -91. An initial Icsc receivable was recorded in the amount of $306,635. As of 6/30/2022, the value of the lease receivable is $289,034. The lessee is required to make monthly fixed payments of $2,000. The lease has an interest rate of 2.3460%. The value of the deferred inflow of resources as of 6/30/2022 was $286,417, and the Commission recognized lease revenue of $20,218 during the fiscal year. The lessee has two extension option(s), each for 60 months. On 10/31/2016, the Commission entered into a 60 -month lease as lessor for the 1 use of 2550 Cajalco Road, Corona, Ca. An initial lease receivable in the amount of $437,708. As of 6/30/2022, the value of the lease receivable is $419,774. The lessee is required to make monthly fixed payments of $2,251. The lease has an interest rate of 2.4320% The value of the deferred inflow of resources as of 6/30/2022 was $409,469, and the Commission recognized lease revenue of $28,239 during the fiscal year. The lessee has three extension option(s), each for 60 months. On 10/31/2017, the Commission entered into a 60 -month lease as lessor for the use of the San Jacinto Branch Line right of way. An initial lease receivable was recorded in the amount of $3,925. As of 6/30/2022, the value of the lease receivable is $0. The lessee is required to make annual fixed payments of $3,933. The lease has an interest rate of 0.6240%. The value of the deferred inflow of resources as of 6/30/2022 was $785, and the Commission recognized lease revenue of $3,140 during the fiscal year. On 8/3/2015, the Commission entered into a 120 -month lease as Icssor for the use of 202 North State Street, Hemet, Ca. An initial lease receivable was recorded in the amount of $10,083. As of 6/30/2022, the value of the lease receivable is $7,526. The lessee is required to make annual fixed payments of $2,568. The lease has an interest rate of 1.1690%. The value of the deferred inflow of resources as of 6/30/2022 was $7,617, and the Commission recognized lease revenue of $2,466 during the fiscal year. 47 Riverside County Transportation Commission Notes to Basic Financial Statements June 30, 2022 Note 4. I ase Receivable, Continued • On 12/20/2021, the Corrrriission entered into a 419 -month lease as lessor for the use of real property adjacent to the SR-60/SR- 91/1-215 Interchange. Ai initial lease receivable was recorded in the amount of $1,106,235. As of 6/30/2022, the value of the lease receivable is $1,092,768. The lessee is required to make monthly fixed payments of $4,167. The lease has an interest rate of 2.8600°k The value of the deferred inflow of resources as of 6/30/2022 was $1,089,426, and the Commission recognized lease revenue of $16,809 during the fiscal year. The lessee has one extension option for 168 months Cn 7/13/2015, the Commission entered into a 240 -month lease as lessor for real property adjacent to 1-215, north of Orange Avenue, Perris, Ca. An initial lease receivable was recorded in the amount of $242,894. As of 6/30/2022, the value of the lease receivable is $229,788. The lessee is required to make monthly fixed payments of $1,500. The lease has an interest rate of 2.2610%. The value of the deferred inflow of resources as of 6/30/2022 was $225,748, and the Commission recognized lease revenue of $17,145 during the fiscal year. In accordance with the standard, the principal and interest expected to maturity for governmental activities is as follows: Year ending June 30 2023 $ 89,724 $ 60,982 $ 150,706 2024 93,613 58,778 152,391 2025 97,646 56,479 154,125 2026 101,784 54,060 155,844 2027 106,661 51,523 158,184 2028-2032 604,878 215,635 820,513 2033-2037 575,278 137,145 712,423 2038-2042 154,532 95,503 250,035 2043-2047 178,258 71,777 250,035 2048-2052 205,626 44,409 250,035 2053-2057 203,579 13,118 216,697 Total lease receivable $ 2,411,579 $ 859,409 $ 3,270,988 Cmh November 1, 2019, the 15 Express Lanes fund entered a 120 -month lease for the use of 301 Corporate Terrace Cirde, Corona, Ca with the Orange County Transportation Authority. An initial lease receivable was recorded in the amount of $379,833. As of June 30, 2022, the value of the lease receivable is $335,578. The lessee is required to make quarterly fixed payments of $12,171. The lease has an interest rate of 1.7670% The value of the deferred inflow of resources as of June 30, 2022 was $330,823 and the Fund recognized lease revenue of $49,011. In accordance with the standard, the principal and interest expected to rrEilurity for business -type activities is as fellows: 2023 $ 44,402 $ 5,637 $ 50,039 2024 45,947 4,843 50,790 2025 47,975 4,018 51,993 2026 50,038 3,157 53,195 2027 51,989 2,259 54,248 2028-2032 95,227 1,698 96,925 Total lease receivable $ 335,578 $ 21,612 $ 357,190 48 Riverside County Transportation Commission Notes to Basic Financial Statements June 30, 2022 Note 5. Capital Assets Capital assets activity for the year ended June 30, 2022 was as fellows: Qivanniinlat au hides Balance June 30, 2021 Additions Balance Deb ietions Trarusfers June 30, 2022 Capital assets not being depredated: Land and land irrproverrents Constrt ion in progress Rail operating easerents ConstrKtion easements Development in progress Total capital assets rot being depredated Capital assets being depredated: Rail stations Rail trades Construction easements Office improvements Office fumiture, equipment, and vehides Total capital assets being depredated I ess accurrulated depredation for Rail stations Rail trades Construction easements Office improvements Office fumiture, equipment, and vehides Total accumulated depreciation Total capital assets being depredated, net Fight to i LSP leased assets: Land Building Equipment Total right to use Ic a ;cd assets Less aocurrulated amortization for: Land Building Equipment Total acaumuulated amortization Total right to use leased assets, net Govemmental activities capital assets, net $ 170,315,513 $ 364,645 111,489,211 88,356,190 63,846,199 4,167,671 34,824 249,184 587,910 $ (664,365) $ — $ 170,015,793 (195,443) (13,138,929) 186,511,029 63,846,199 - 4,202,495 &8,094 350,067,778 89,338,569 209,736,141 828,142 154,791,511 1,027,663 899,084 434,187 102,795 2,008,581 (859,808) (13,138,929) 425,407,610 — — 210,564,283 — — 154,791,511 (5,277) — 1,921,470 — — 536,982 — — 2,008,581 (5,277) 367,998,083 1,830,021 (80,366,402) (25,730,557) (988,090) (232,058) (1,870,965) (109,188,072) 258,810,011 25,205 3,856,996 94,026 3,976,227 (7,209,227) (5,179,704) (19Z606) (56,562) (85,391) (12,723,490) (10,893,469) (5,277) - 369,822,827 - (87,575,629) - (30,910,261) - (1,180,696) (288,620) (1,956,356) (121,911,562) - 247,911,265 25,205 - 3,856,996 94,026 - 3,976,227 (8,402) - (610,338) (30,116) - (648,856) - (648,856) (8,402) - (610,338) (30,116) - (648,856) - 3,327,371 $ 612,854,016 $ 77,796,244 $ (865,085) $ (13,138,929) $ 676,646,246 49 Riverside County Transportation Commission Notes to Basic Financial Statements June 30, 2022 Note 5. Capital Assets, Continued u Capital assets not being depredated: Land and land improvements Construction easements Construction in progress Development in progress Total capital assets not being depredated Capital assets being depredated and amortized: TdI infrastructure Transponders Buildings Equipment, furniture, and fixtures TdI facility franchise Total capital assets being depredated and amortized Less accumulated depredation and amortization for: TdI infrastructure Transponders Buildings Equipment, furniture, and fixtures TdI fadlity franchise Total accumulated depredation and amortization Total capital assets being depredated and amortized, net Business -type activities capital assets, net $ 25,608,011 $ 53,350 2,417,207 28,078,568 40,786,274 453,818 7,382,207 162,691 599,120,308 647,905,298 (23,778,298) (365,930) (527,987) (55,960) (22,677,514) (47,405,689) 206,307 4,614,768 4,821,075 4,093,335 31,614 18,319 4,143,268 (7,583,571) (78,001) (858,476) (34,455) (12,009,985) (20,564,488) 600,499,609 (16,421,220) $ 628,578,177 $ (11,600,145) $ (13,617,725) $ (2,417,207) (16,034,932) — 16,864,711 $ 11,990,286 259,657 4,614,768 9,333,706 3,805,223 13,138,929 54,213,315 453,818 7,413,821 181,010 602,925,531 665,187,495 — (31,361,869) (443,930) — (1,386,464) (90,415) - (34,687,499) - (67,970,177) - 597,217,318 $ (16,034,932) $ 13,138,929 $ 614,082,029 On May 14, 2012, the Commission entered into a toll fadlities agreement with Caltrans providing the Commission with authorization to toll the SR -91 from Crange/Riverside County line to 1-15 for 50 years commencing as of the first day on which the ROTC 91 Expre r Lanes open for public use and toll operations. Cn September 29, 2016, the Commission entered into a toll facilities agreement with Caltrans providing the Commission with authorization to toll the 1-15 from Cajalco Road to SR -60 for 50 years commenting as of the first day on which the 15 Express Lanes open for public use and toll operations. The agreements also set forth the Commission's rights to Caltrans' right of way and Caltrans' oversight role in the operations and maintenance of the RCTC 91 Express Lanes and 15 Express Lanes. Depredation and amortization expense was charged to functions/programs of the Commission's governmental and business -type activities during the year ended June 30, 2022 as fellows: Governmental activities: General governrr ent $ 135,333 Corrmuter rail 12,387,577 Highway 200,580 Total depredation expense —governmental activities $ 12,723,490 «i1 ROTC 91 Express Lanes Toll fadlity franchise Lease asset 15 Express Lanes TdI fadlity franchise Total depredation and amortization expense — business -type activities $ 4,642,736 5,022,014 49,011 3,911,767 6,987,971 $ 20,613,499 50 Riverside County Transportation Commission Notes to Basic Financial Statements June 30, 2022 Note 5. Capital Assets, Continued ii The Commission has recorded right to use assets. The assets are a right to use leased land, buildings, and equipment. The related lease is discussed in the long-term obligations section. The right to use lease assets are amortized on a straight-line basis over the terms of the related lease agreement. Note 6 Interfund Transactions Due frorrito other funds: The total due from other funds and due to other funds of $32,654,848, specifically $30,107,613 and $2,547,235 in Governmental fund and Enterprise fund, respectively. The composition of balances related to due from other funds and due to other funds at June 30, 2022 is as follows: General fund General fund General fund General fund General fund General fund General fund General fund General fund General fund General fund General fund General fund General fund General fund General fund Nbasure A Vstem County Special Revenue fund Measure A Coachella Valley Special Revenue fund Transportation Uniform Mitigation Fee Special Revenue fund Commercial Paper Capital Projects fund Bonds Capital Projects fund RCTC 91 Express Lanes Enterprise fund Total due from'to other funds Nonmajor Governmental funds $ 158,356 Nonmajor Governmental funds Transportation Uniform Mitigation Fee Special Revenue fund Measure A VVestem County Special Revenue fund Measure A Coachella Valley Special Revenue fund ROTC 91 Express Lanes Enterprise fund 15 Express Lanes Enterprise 72,000 fund Local Transportation Fund 565,900 Local Transportation Fund 213,887 State Transit Assistance fund 33,800 Transportation Uniform Mitigation 12,838 Fee Special Revenue fund Mloacure A Western County 162,122 Special Revenue fund SB 132 fund 14,111/1 RCTC 91 Express Lanes 48,801 Enterprise fund 15 Express Lanes Enterprise 29,434 fund SB 132 fund 14,013,230 Transportation Uniform Mitigation 11,910,843 Fee Special Revenue fund Debt Service fund 124,086 6,433 Measure A Vestem County Special Revenue fund Measure A Coachella Valley Special Revenue fund Measure A Coachella Valley Special Revenue fund Measure A VVestem County Special Revenue fund 434,145 67,894 2,547,235 $ 32,654,848 363,800 281,700 Fringe benefits allocation Administrative cost allocation Administrative cost allocation 1,113,600 Adrrinistrative cost allocation 101,400 Adrrinistrative cost allocation 378,900 Administrative cost allocation Adrrinistrative cost allocation Adrrinistrative cost allocation Planning and prograrrrring project cost allocation Administrative cost allocation Fringe benefits allocation Fringe benefits allocation Fringe benefits allocation Fringe benefits allocation Fringe benefits allocation Cash deficit Highway project costs allocations Advance loan payment adjustment Regional arterial project costs allocations Advance loan payment adjustment Advance loan payment adjustment Project costs allocations retumed 51 Riverside County Transportation Commission Notes to Basic Financial Statements June 30, 2022 Note 6. Interfund Transactions, Continued Advances to/from other funds: The Measure A VVestem County Special Revenue fund advanced $9,000,000 to the Bonds Capital Projects fund to establish an $18,000,000 Transportation Infrastructure Finance and Innovation Act (T1FIA) debt service reserve for the 1-15 Express Lanes project as required no later than June 30, 2024. Upon opening of the 15 Express Lanes in April 2021, the TI FIA debt service reserve funded to date and the related advance due to the Measure A Western County Special Revenue fund recorded in the Bonds Capital Projects fund were transferred to the 15 Express Lanes Enterprise fund. Capitalized interest on the advance as of June 30, 2022 was $969,509. Repayment of this initial Commission advance is subject to satisfying certain conditions under the related indenture, induding the occurrence of the second anniversary of the 11FIA debt service payment conlTenoement date. Additionally, the IVbasure A Western County Special Revenue fund has advanced $2,727,273 to the Bonds Capital Projects fund in the event that the 15 Express Lanes does not have sufficient funds to meet the annual 11FIA debt service rcscrve. Interfund transfers: During 2022, interfund transfers were as fellows: Transfers Out Transfers In Explanation Measure A W stem County Special Revenue fund Measure A Western County Special Revenue fund Measure A VVestem County Special Revenue fund Transportation Uniform Mitigation Fee Special Revenue fund Luual Transportation Fund State Transit Assistance Fund State Transit Assistance Fund Commercial Paper fund Bonds Capital Projects fund Bonds Capital Projects fund Bonds Capital Projects fund Bonds Capital Projects fund Debt Service fund Debt Service fund Debt Service fund Nonmajor Governmental funds Nonmajor Governmental funds Nonmajor Governmental funds Nonmajor Governmental funds ROTC 91 Express Lanes Enterprise fund 15 Express Lanes Enterprise fund Transportation Uniform Mitigation Fee Special Revenue fund Debt Service fund ROTC 91 Express Lanes Enterprise fund Measure A Western County Special Revenue fund General fund Nonmajor Governmental funds Measure A Western County Special Revenue fund Debt Service fund Measure A VVestem County Special Revenue fund Debt Service fund Measure A VVestem County Special Revenue fund 15 Express Lanes Enterprise fund Measure A Western County Special Revenue fund Bonds Capital Projects fund Measure A Coachella Valley Special Revenue fund Measure A Western County Spedal Revenue fund Measure A VVestem County Special Revenue fund Measure A VVestem County Special Revenue fund Nonmajor Governmental funds Measure A Western County Special Revenue fund Measure A Western County Special Revenue fund Total transfers $ 118,015,183 $ 41,511 F1ghway project costs allocations 66,574,399 Debt service funding related to highway projects for VVestem County and to advance agreements for VVestem County jurisdictions 2,547,235 Surplus funds returned for the 91 Corridor Operations Project 15,433,120 Highway project costs allocations 5,438,987 Adrrrnistration, planning and programming, commuter rail operating and station maintenance, and grade separation costs allocations 412,892 Coachella Valley commuter rail costs allocations 6,642 VVestem County carrn.rter rail costs allocations 2,608,694 11,960,026 Debt service funding l highway project costs allocations 407,945 Debt service funding 1,062,724 Ramp up reserves for operations 35,380 Accumulated interest earned on 11FIAdebt service rceave 2,812,132 Cash subsidies available after debt service payment 272,727 11FIA debt service reserve allocations 124,086 Share of cash subsidy related to CVAG advance agreement 1,438,262 Commuter rail costs allocations 20,000 Commuter assistance costs allocations 2,024 Interest allocation adjustment 2,260,000 Call box program augmentation of freeway service patrd operations 230,689 Surplus funds used for the 91 Corridor Operations project 4,325,708 11FIA loan proceeds for project costs 52 Riverside County Transportation Commission Notes to Basic Financial Statements June 30, 2022 Note 6. Interfund Transactions, Continued In connection with the substantial oorrpletion of the 15 Express Lanes project in April 2021 and the corrmencernent of toll operations on the 15 Express Lanes, the Commission contributed $13,138,929 of capital and intangible costs from the govemrrental activities to the 15 Express Lanes. Note 7. Long-term Obligations The following is a sun rfury of the changes in long-term obligations for the year ended June 30, 2022: Gavemmental activities Sales tax revenue bonds: 2010 Bonds 2013 Bonds 2016 Refunding Bonds 2017 Bonds, series A 2017 Refunding Bonds, series B 2018 Refunding Bonds Total bonds payable June 30, 2021 Accretion Reductions Balance June 30, 2022 Due Within One Year Sales tax revenue bonds premium Total bonds payable, net Lease liability Compensated absences liability Total log -term obligations $ 112,370,000 $ 28,690,000 52,965,000 141,055,000 392,730,000 49,505,000 $ (13,995,000) (5,720,000) (5,075,000) — (5,205,000) $ 112,370,000 14,695,000 47,245,000 135,980,000 392,730,000 44,300,000 14,695,000 6,005,000 5,280,000 5,425,000 777,315,000 94,246,216 — (29,995,000) — (10,827,477) 747,320,000 83,418,739 31,405,000 10,458,492 871,561,216 3,976,227 1,368,862 $ 876,906,305 — (40,822,477) 695,051 $ 695,051 (578,211) (887,280) $ (42,319,690) 830,738,739 3,398,016 1,176,633 $ 835,313,388 Balance June 30, 2022 41,863,492 599,606 566,653 $ 43,029,751 Due Within di the Year TdI revenue bonds: 2013 Bonds 2021 Bonds Tell revenue bonds premium Tell revenue bonds discount Total bonds payable, net 11 FIA loan Compensated absences liability Total long-term obligations $ 212,071,347 $ 4,279,344 — 615,059,000 (1,855,227) 210,216,120 656,943,710 114,838 $ 8867,274,668 55,968,468 675,306,812 15,240,301 255,025 $ 690,802,138 $ (152,743,739) $ 63,606,952 $ 615,059,000 (1,599,956) 1,855,227 (152,488,468) (509,798,158) (232,996) $ (662,519,622) $ 54,368,512 733,034,464 162,385,853 136,867 895,557,184 2,537,375 2,537,375 65,914 $ 2,603,289 53 Riverside County Transportation Commission Notes to Basic Financial Statements June 30, 2022 Note 7. Long-term Obligations, Continued m The Commission has pledged a portion of future sales tax revenues through maturities of the bonds to repay $747,320,000 in outstanding sales tax revenue bonds payable issued in November 2010 (2010 Bonds), July 2013 (2013 Sales Tax Bonds), September 2016 (2016 Refunding Bonds), July 2017 (2017A Sales Tax Bonds), December 2017 (2017B Refunding Bonds), and March 2018 (2018 Refunding Bonds) outstanding at June 30, 2022 plus related interest. The bonds are payable solely from the 2009 Measure A sales tax revenues on a senior and subordinate lien basis, respectively. Annual principal and interest payments on the bonds, are expected to require less than 27% of 2009 Measure A revenues. For the current year, interest paid on the bonds was $39,599,288. Cash subsidies of $2,812,132 related to the bonds were received from the U.S. Treasury during the current year and were recorded as intergovernmental revenues. In July 2010, the Commission authorized the issuance and sale of not to exceed $900 million of toll revenue bonds related to the 91 Project. In March 2020, the Corrrrission authorized the issuance and sale of not to exceed $725 million of toll revenue refunding bonds related to the RCTC 91 Express Lanes. In October 2021, the Commission authorized the issuance of toll revenue refunding bonds (2021 Toll Refunding Bonds) consisting of $88,735,000 senior lien federally taxable bonds, $450,629,000 senior lien tax-exempt bonds, and $75,695,000 second lien tax-exempt bonds. The proceeds of the 2021 Toll Refunding Bonds were used to refund a portion of the ROTC 91 Express Lanes 2013 Toll Revenue CI Bs, pay the purchase price of the 2013 Toll Revenue ClBs accepted tender for cash, refund and prepay the 11FIA loan, fund capitalized interest, make deposits to required reserves, and pay costs of issuance. Certain senior lien tax-exempt bonds issued were exchanged for certain 2013 Toll Revenue CIBs accepted for exchange. Additionally, the Commission deposited available funds with an escrow agent to defease approximately $28,919,000 in accreted value of the 2013 Toll Revenue CABs rTraluring in the years 2022 through 2025 and 2027 through 2029. Cost of issuance of $3.8 million was expended in connection with the issuance of the 2021 Toll Refunding Bonds. I ass on refunding of $6.7 million was recognized in connection with the issuance of the 2021 Toll Refunding Bonds. The Commission executed a 11FIA loan agreement for up to $152,214,260 in July 2017 as a senior toll revenue bond on the trust estate, which consists primarily of toll revenues and account revenues less operating and maintenance expenses of the 15 Express Lanes. The 15 Express Lanes opened to motorists on April 10, 2021, and tilling corrrnenced on April 14, 2021. The amount outstanding under the 11FIA loan at June 30, 2022 is $152,214,260, induding compounded interest of $10,171,593. Sales tax revenue bonds payable: Under the provisions of the 2009 Measure A, as amended by Measure K approved by the voters in November 2010, the Commission has the authority to issue bonds subject to a bond debt limitation of $975,000,000. The following is a sum n wry of bonds issued and secured by 2009 Measure A revenues that are outstanding at June 30, 2022: In November 2010, the Commission issued sales tax revenue bonds consisting of the $37,630,000 Series A (2010A Bonds) and $112,370,000 Series B (2010B Bonds), for a total issuance of $150,000,000 (collectively, the 2010 Bonds). For the Series B Build Arrerica Bonds (BABs), $44,800,000 was designated as recovery zone ecoiorric development bonds (RZEDBs). A portion of the 2010 Bonds was used to retire $103,284,000 of the outstanding commercial paper notes with the remaining proceeds used to fund 2009 IVleasure AVVestem County and Coachella Valley capital projects and pay costs of issuance for the 2010 Bonds. In December 2017, the 2010A Bonds were refunded. The remaining 2010B Bonds r r &lure in annual installments ranging from $530,000 to $17,980,000 on various dates from June 1, 2032 to June 1, 2039 at an interest rate of 6.807% The Commission expects, but is not guaranteed, to receive a cash subsidy from the U.S. Treasury equal to 35% of the interest payable on the BABs or 45% of the interest payable on the 2010B Bonds additionally designated as RZEDBs $ 112,370,000 During 2022 the cash subsidy related to the 2010 Bonds that was received from the U.S. Treasury was approxir r elely $2,812,132, or $169,968 Tess than the amount anticipated. The subsidy reduction resulted from federal sequestration cuts of 5.7% for federal fiscal year ending September 30, 2022. The federal sequestration cuts may continue for an unknown duration. 54 Riverside County Transportation Commission Notes to Basic Financial Statements June 30, 2022 Note 7. Long-term Obligations, Continued r� In accordance with the bond rwlurity schedule, and assuming no subsidy reduction, the approximate annual debt service requirements to maturity for the 2010B Bonds payable throughout the term of the bonds are as fellows: 2023 2024 2025 2026 2027 2028-2032 2033-2037 2038-2039 530,000 76,530,000 35,310,000 $ 112,370,000 7,649,000 7,649,000 7,649,000 7,649,000 7,649,000 38,245,100 28,096,900 3,627,700 $ 108,214,700 $ 7,649,000 7,649,000 7,649,000 7,649,000 7,649,000 38,775,100 104,626,900 38,937,700 $ 220,584,700 $ (2,982,100) $ 4,666,900 (2,982,100) 4,666,900 (2,982,100) 4,666,900 (2,982,100) 4,666,900 (2,982,100) 4,666,900 (14,910,600) 23,864,500 (11,358,700) 93,268,200 (1,632,600) 37,305,100 $ (42,812,400) $ 177,772,300 In July 2013, the Commission issued $462,200,000 principal amount of serial bonds at a premium of $38,328,775 to retire all, or $60,000,000, of the outstanding principal amount of commercial paper notes, fund a portion of the 91 Project costs, pay capitalized interest during construction, and pay cost of issuance. In December 2017, the Commission refunded the callable portion of the outstanding 2013 Sales Tax Bonds. The remaining 2013 Sales Tax Bonds mature in an annual installment of $14,695,(X)0 on June 1, 2023 at an interest rate of 5.00% $ 14,695,000 In accordance with the bond rmaturity schedule, the approximate annual debt service requirements to rrraturity for the 2013 Sales Tax Bonds payable throughout the term of the bonds are as follows: 2023 $ 14,695,000 $ 734,600 $ 15,429,600 2016 Sales Tax Revenue Refunding Bonds (Limited Tax Bonds), Series A (Tax-exempt): In October 2016, the Commission issued sales tax revenue bonds of $76,140,000. A portion of the 2016 Refunding Bonds was used to refund all of the outstanding Series A bonds issues in 2009, retire all of the outstanding commercial paper notes, finance a termination payment in connection with an interest rate swap agreement and pay costs of issuance. The outstanding 2016 Refunding Bonds mature in annual installments ranging from $6,005,000 to $7,305,000 on various dates from June 1, 2023 through June 1, 2029 at interest rates ranging from 2.00% to 5.00% $ 47,245,000 In accordance with the bond maturity schedule, the approxirwle annual debt service requirements to ruiturity for the 2016 Refunding Bonds payable throughout the term of the bonds are as fellows: 2023 2024 2025 2026 2027 2028-2029 $ 6,005,000 6,305,000 6,620,000 6,820,000 7,025,000 14,470,000 $ 47,245,000 $ 1,448,600 1,148,300 833,100 634,500 429,900 435,500 $ 7,453,600 7,453,300 7,453,100 7,454,500 7,454,900 14,905,500 $ 4,929,900 $ 52,174,900 55 Riverside County Transportation Commission Notes to Basic Financial Statements June 30, 2022 Note 7. Long-term Obligations, Continued 2017 Sales Tax Revenue Bonds (Limited Tax Bonds), Series A (Tax-exempt): In July 2017, the Commission issued sales tax revenue bonds of $158,760,000 at a premium of $28,931,909 to fund a portion of the 1-15 Express Lanes project and oorrplete the 91 Project. The outstanding 2017A Bonds nature in annual installments ranging from $5,280,000 to $11,440,000 on various dates from June 1, 2023 to June 1, 2039 at interest rates ranging from 3.00% to 5.00%. $ 135,980,000 In accordance with the bond r r ralurity schedule, the approxi r r>rrle annual debt service requirements to maturity for the 2017A Sales Tax Bonds payable throughout the term of the bonds are as follows: 2023 2024 2025 2026 2027 2028-2032 2033-2037 2038-2039 $ 5,280,000 5,540,000 5,820,000 6,110,000 6,415,000 37,220,000 47,260,000 22,335,000 $ 135,980,000 $ 6,736,600 6,472,600 6,195,600 5,904,600 5,599,100 22,850,800 12,810,700 1,688,600 $ 68,258,600 $ 204,238,600 $ 12,016,600 12,012,600 12,015,600 12,014,600 12,014,100 60,070,800 60,070,700 24,023,600 In connection with the issuance of the 2017A Sales Tax Bonds, the Commission provided for the establishment of an 1-15 Trust Fund for deposits of sales tax revenues as required by the tell indenture for the 1-15 Express Lanes project. 2017 Sales Tax Revenue Refund • Bonds Limited Tax Bonds Series B ax r In December 2017, the Commission issued sales tax revenue bonds of $392,730,000 at a premium of $80,058,109 to refund all of the outstanding 2010A Bonds and refund a portion of the 2013 Sales Tax Bonds. The 2017B Refunding Bonds rruture in annual installments ranging from $15,045,000 to $30,980,000 on various dates from June 1, 2024 to June 1, 2039 at interest rates ranging from 4.00% to 5.00°k $ 392,730,000 In accordance with the bond maturity schedule, the approxirrrdte annual debt service requirements to maturity for the 2017B Refunding Bonds payable throughout the term of the bonds are as fellows: 2023 2024 2025 2026 2027 2028-2032 2033-2037 2038-2039 15,045,000 15,800,000 16,590,000 17,415,000 138,690,000 128,700,000 60,490,000 $ 19,366,300 19,366,300 18,614,100 17,824,100 16,994,600 69,159,500 33,948,100 4,573,600 $ 19,366,300 34,411,300 34,414,100 34,414,100 34,409,600 207,849,500 162,648,100 65,063,600 $ 592,576,600 $ 392,730,000 $ 199,846,600 The refunding was undertaken to advance refund all of the outstanding 2010A Bonds and the callable portion of the outstanding 2013 Sales Tax Bonds in the amounts of $37,630,000 and $372,445,000, respectively, and reduce future debt service payments. The reacquisition price exceeded the net carrying amount of the dd debt by approximately $41,742,900. This amount is reflected as a deferred outflow of resources and amortized over the life of the dd debt, which is the same as the 2017B Refunding Bonds obligation. At June 30, 2022, the unarriortized deferred amount on refunding was $30,719,848. The transaction also resulted in an econorrrc gain (difference between the present values of the debt service payments on the dd debt and the new debt) of approxit m ralely $39,936,000 and a reduction in future debt payments of approver r ralely $52,013,000. 56 Riverside County Transportation Commission Notes to Basic Financial Statements June 30, 2022 Note 7. Long-term Obligations, Continued Outstanding In April 2018, the Commission issued sales tax revenue bonds of $64,285,000 at a premium of $10,723,789 to refund all of the outstanding Series B and Series C bonds issued in 2009 and finance a temination payment in connection with an interest rate swap agreement with Bank of America. The outstanding 2018 Refunding Bonds ri uture in annual installments ranging from $5,425,000 to $7,290,000 on various dates from June 1, 2023 through June 1, 2029 at interest rates ranging from 4.00% to 5.00%. $ 44,300,000 In accordance with the bond maturity schedule, the approximate annual debt service requirements to maturity for the 2018 Refunding Bonds payable throughout the term of the bonds are as follows: Prins Interest 2023 $ 5,425,000 2024 5,745,000 2025 5,970,000 2026 6,295,000 2027 6,620,000 2028-2029 14,245,000 $ 2,215,000 $ 7,640,000 1,943,800 7,688,800 1,656,500 7,626,500 1,358,000 7,653,000 1,043,200 7,663,200 1,076,700 15,321,700 $ 44,300,000 $ 9,293,200 $ 53,593,200 This refunding was undertaken to eliminate certain risks associated with managing the Comrrission's variable rate debt. The transaction resulted in a decrease in future debt payments of approximately $802,000 and an economic gain of approximately $746,000 (difference between the prcsont value of the debt service payments on the old debt and the newdebt). The reacquisition price and the net carrying amount of the old debt were the same. Toll revenue bonds payable: In July 2010, the Commission authorized the issuance and sale of not to exceed $900 Trillion of toll revenue bonds related to the 91 Project. In March 2020, the Commission authorized the issuance and sale of not to exceed $725 million of toll revenue refunding bonds related to the RCTC 91 Express Lanes. In October 2021, the Commission authorized the issuance of toll revenue refunding bonds (2021 Toll Refunding Bonds) consisting of $88,735,000 senior lien federally taxable bonds, $450,629,000 senior lien tax-exempt bonds, and $75,695,000 second lien tax-exempt bonds. The proceeds of the 2021 Toll Refunding Bonds were used to refund a portion of the RCTC 91 Express Lanes 2013 Toll Revenue capital interest bonds (CIBs), pay the purchase price of the 2013 Toll Revenue GBs accepted for tender for cash, refund and prepay the 11FIA loan, fund capitalized interest, make deposits to required reserves, and pay msts of issuance. Certain senior lien tax exempt bonds issued were exchanged for certain 2013 Toll Revenue ClBs accepted for exchange. Additionally, the Commission deposited available funds with an escrow agent to defease approximately $28,919,000 in accreted value of the 2013 Toll Revenue capital appreciation bonds (CABs) rrraluring in the years 2022 through 2025 and 2027 through 2029. Cost of issuance of $3.8 million was expended in connection with the issuance of the 2021 Toll Refunding Bonds. Loss on refunding of $6.7 million was recognized in connection with the issuance of the 2021 TdI Refunding Bonds. In July 2013, the Commission issued $52,829,602 principal amount of serial CABs to fund a portion of the 91 Project, pay capitalized interest during construction, fund a debt service reserve fund, fund an initial amount for an operations and maintenance fund, and pay costs of issuance. In October 2021, the Commission refunded a portion of the 2013 Series B Senior Bonds. The CABs will not pay current interest as interest will be compounded commencing December 2021 semiannually and paid at maturity. Therefore, the CABs will increase in value, or accrete, by the accumulation of such compounded interest from its initial principal amount to the rrraturity value in installments ranging from $4,580,000 to $34,220,000 on various dates from June 1, 2025 through June 1, 2043. Interest rates and yield to maturity range from 3.00% to 4.00%. During 2022, the accretion amount was $2,623,752; the aggregate accretion through June 30, 2022 is $2,623,752. $ 63,606,952 57 Riverside County Transportation Commission Notes to Basic Financial Statements June 30, 2022 Note 7. Long-term Obligations, Continued mmmmmmr In accordance with the bond maturity schedule, the approximate annual debt service requirements to rrralurity for the 2013 Toll Bonds CABs payable throughout the term of the bonds are as fellows: PP 2023 $ — 2024 — 2025 3,696,600 2026 3,681,000 2027 3,312,500 2028-2032 19,427,100 2033-2037 9,784,400 2038-2042 13,594,300 2043 7,487,300 Interest 4,394,600 4,699,700 5,025,700 5,095,100 7,702,600 22,822,600 20,630,800 24,805,100 2,321,800 4,394,600 4,699,700 8,722,300 8,776,100 11,015,100 42,249,700 30,415,200 38,399,400 9,809,100 $ 60,983,200 $ 97,498,000 $ 158,481,200 In October 2021, the Commission issued $88,735,000 principal amount to (i) refund a portion of the Commission's outstanding Toll Revenue Senior Lien Bonds, 2013 Series A (current interest obligations), (ii) fund capitalized interest with respect to the 2021 Series A Senior Bonds, (iii) rake a deposit to the 2013 Bonds Reserve Account (which secured the 2021 Series A Senior Bonds and the 2013 Series B Senior Bonds), and (iv) pay certain costs of issuance of the 2021 Series A Senior Bonds. The outstanding 2021 Toll Revenue Refunding Bonds, Series A nature in annual installments ranging from $2,305,000 to $27,750,000 on various dates from June 1, 2030 to June 1, 2041 at interest rates from 2.477% to 3.335% $ 88,735,000 2023 2024 2025 2026 2027 2028-2032 2033-2037 2038-2041 $ 2,725,300 $ 2,725,300 2,725,300 2,725,300 2,725,300 2,725,300 2,725,300 2,725,300 2,725,300 2,725,300 9,865,000 13,327,300 23,192,300 64,265,000 8,778,100 73,043,100 14,605,000 1,948,500 16,553,500 $ 88,735,000 $ 37,680,400 $ 126,415,400 2021 Toll Revenue Refunding Bonds, Series B-1: mA In October 2021, the Commission issued $437,895,000 principal amount at a prenium of $46,512,600 to (i) refund and prepay a portion of the Commission's outstanding Toll Revenue Subordinate Bonds, 2013 T1FIA Series by prepaying a corresponding portion of its obligations under the related T1FIA Loan Agreement, (ii) pay the purchase price of 2013 Series A Senior Bonds accepted for tender for cash, (iii) make a deposit to the 2021 Series B Senior Bonds Rcscrve Account, and (iv) pay certain costs of issuance of the 2021 Series B Senior Bonds. The outstanding 2021 Toll Revenue Refunding Bonds, Series B-1 mature in annual installments ranging from $5,010,000 to $65,105,000 on various dates from June 1, 2037 to June 1, 2049 at interest rates from 3.000 to 4.000%. $ 437,895,000 58 Riverside County Transportation Commission Notes to Basic Financial Statements June 30, 2022 Note 7. Long-term Obligations, Continued m»»mE 2023 2024 2025 2026 2027 2028-2032 2033-2037 2038-2042 2043-2047 2048-2049 $ 16,065,850 16,065,850 16,065,850 16,065,850 16,065,850 80,329,250 31,315,000 80,329,250 150,160,000 59,625,650 155,400,000 31,576,450 101,020,000 4,108,050 $ 16,065,850 16,065,850 16,065,850 16,065,850 16,065,850 80,329,250 111,644,250 209,785,650 186,976,450 105,128,050 $ 437,895,000 $ 336,297,900 $ 774,192,900 2021 Toll Revenue Refunding Bonds, Series B-2: In October 2021, the Commission issued $12,734,000 principal amount together with the 2021 Series B-1 Senior Bonds, the 2021 Series B Senior Bonds exchanged for the 2013 Series A Senior Bonds accepted a tender for exchange. The outstanding 2021 Toll Revenue Refunding Bonds, Series B-2 rrrature in annual installments ranging from $1,894,000 to $5,420,000 on various dates from June 1, 2044 to June 1, 2048 at an interest rates of 3.000%. $ 12,734,000 2023 2024 2025 2026 2027 2028-2032 2033-2037 2038-2042 2043-2047 2048 $ 382,000 $ 382,000 382,000 382,000 382,000 382,000 382,000 382,000 382,000 382,000 1,910,100 1,910,100 1,910,100 1,910,100 1,910,100 1,910,100 7,314,000 1,739,600 9,053,600 5,420,000 162,700 5,582,700 $ 12,734,000 $ 9,542,600 $ 22,276,600 2021 Toll Revenue Refunding Bonds, Series C:.. In October 2021, the Commission issued $75,695,000 principal amount at a premium of $9,455,800, to (i) refund and prepay the remaining portion of the Commission's outstanding TIFIA Obligations and (ii) pay certain costs of issuance of the 2021 Series C Second Lien Bonds. The outstanding 2021 Toll Revenue Refunding Bonds, Series C mature in annual installments ranging from $17,585,000, to $58,110,000 on various dates from June 1, 2046 to June 1, 2047 at an interest rate of 4.000%. $ 75,695,000 59 Riverside County Transportation Commission Notes to Basic Financial Statements June 30, 2022 Note 7. Long-term Obligations, Continued 2023 2024 2025 2026 2027 2028-2032 2033-2037 2038-2042 2043-2047 $ 3,027,800 3,027,800 — 3,027,800 — 3,027,800 3,027,800 15,139,000 15,139,000 15,139,000 75,695,000 12, 814,600 $ 3,027,800 3,027,800 3,027,800 3,027,800 3,027,800 15,139,000 15,139,000 15,139,000 88,509,600 $ 75,695,000 $ 73,370,600 $ 149,065,600 In July 2017, the Cormission executed a T1F1A loan of up to $152,214,260, which precis will finance a portion of the costs for the 1-15 Express Lanes project. During construction and for a period of up to five years following substantial completion, interest is compounded and added to the initial 11FIA loan. The 11 FIA loan requires mandatory debt service payments at a minimum and scheduled debt service payments to the extent additional funds are available. T1FIA debt service payments are expected to commence on June 1, 2025, which is five years after substantial completion of the 1-15 Express Lanes project, through June 1, 2055. The interest rate of the 11FIA loan is 2.84%. During 2022, $4,325,708 was drawn on the 11FIA loan and $4,454,626 in interest was corrpo.nded for a total compounded interest of $10,171,593. $ 162,385,853 The TI FIA loan is a senior toll revenue bond per the 1-15 Express Lanes project indenture. In accordance with the projected 11FIA loan maturity schedule, the approximate annual debt service requirements to maturity for the 11FIA loan payable throughout the term of the loan are as follows: Year endi • June 30 2026 2027 2028-2032 2033-2037 2038-2042 2043-2047 2048-2052 2053-2055 Total Future compounded interest Total T1FIA loan $ — $ 5,018,900 $ 5,018,900 5,018,900 5,018,900 2,308,000 25,074,900 27,382,900 14,139,900 24,157,100 38,297,000 21,264,400 21,456,800 42,721,200 35,455,400 18,015,200 53,470,600 60,861,300 11,443,800 72,305,100 42,692,700 2,449,600 45,142,300 176,721,700 $ 112,635,200 $ 289,356,900 (14,335,800) $ 162,385,900 Pursuant to the I-15 Express Lanes project toll indenture, the Corrrnission is required to establish the following to support the 15 Express Lanes: • A $16.5 million ramp -up reserve was funded prior to substantial completion and oomnhuncement of express lanes operations; • An $18 Trillion Tl FIA loan rescrve from an advance of Measure A sales tax revenues up to $3 million per year from 2019 through 2024 to the extent that 15 Express Lanes revenues are not sufficient to fund the T1FIA loan rescrve. Through FY 2020/21 $9 rrillion was funded by Measure A Sales Tax revenues and $3 rrillion was funded by 15 Express Lanes toll revenues for a total of $12 Trillion funded through FY 2021/22; and • Up to a $38.5 million backstop loan from Measure A sales tax revenues of up to $3.85 Trillion per year to the extent 15 Express Lanes revenues are not sufficient to cover operations and maintenance costs, 11FIA loan mandatory debt service, and TIFIAscheduled interest. 60 Riverside County Transportation Commission Notes to Basic Financial Statements June 30, 2022 Note 7. Long-term Obligations, Continued Em The Commission has funded $9,000,000 required for the 11FIA loan reserve with an advance of Measure A sales tax revenues. The loan is included in advances from the Measure AVuestem County Special Revenue fund to the 15 Express Lanes Enterprise fund. Commercial paper notes payable: In February 2005, the Commission authorized the issuance of tax-exempt corrrrrercial paper notes in an amount not to exceed $200,000,000 for the primary purpose of financing right of way and mitigation land acquisition and prgect development costs of capital projects under the 2009 Measure A The Commission reduced the authorization to $60,000,000 in September 2013. As of June 30, 2022, $0 was outstanding in co r mrerdal paper notes. The source of revenue to repay the corrrmterdal paper notes and any subsequent long-term debt refinancing is the 2009 Measure A sales tax. Interest is payable on the respective r r ulurity dates of the commercial paper notes, which is up to 270 days from the date of issuance. The maximum allowable interest rate on the commercial paper notes is 12%. As a requirement for the issuance of the commercial paper notes, the Commission entered into a $60,750,000 irrevocable direct draw letter of credit and reimbursement agreement with State Street Bank and Trust Company (State Street) as credit and liquidity support for the oommerdal paper notes through October 2025. The cormitrrent fees paid to State Street were $258,694 in 2022. Funds are drawn under the letter of credit to pay debt service on the commercial paper notes, and the Commission is required to reimburse the bank for such drawings. Amounts drawn on the letter of credit and not reimbursed within 30 days are not due until five years after the date of such draw. Accordingly, the comrrerdal paper notes are dassified as long-term liabilities in the Conmission's govemment-wide financial statements. There were no unreimbursed draws by the Comriission on the remaining letter of credit during the year ended June 30, 2022, nor were there any amounts outstanding under the remaining letter of credit agreement at June 30, 2022. The Commission's cormBrdal paper program functions similar to bond anticipation notes for reporting purp scs, as the commercial paper notes are issued and retired with long-term debt issuances. Commerdal paper notes are dassified as long- term debt as long as the Corrrrission's letter of credit facility extends at least one year past its fiscal year end; otherwise, the commercial paper notes are classified as a fund liability. Arbitrage rebate: The Tax Reform Act of 1986 instituted certain arbitrage restrictions with respect to the issuance of tax-exempt bonds and commercial paper notes after August 31, 1986. In general, arbitrage regulations deal with the investment of all tax- exempt bond and oarrrordal paper note proceeds at an interest yield greater than the interest yield paid to bondholders or noteholders. Failure to follow the arbitrage regulations could result in all interest paid to bondholders or noteholders retroactively rendered taxable. In accordance with the arbitrage regulations, if excess eamings were calculated, 90% of the amount calculated would be due to the Internal Revenue Service at the end of each five-year period. The remaining 10% would be recorded as a liability and paid after all bonds had been redeemed. During the current year, the Commission performed calculations of excss investment eamings on all bond and cornTerdal paper financings. There was no arbitrage liability at June 30, 2022. 61 Riverside County Transportation Commission Notes to Basic Financial Statements June 30, 2022 Note 8. Net Position and Fund Balances Net position: Net investment in capital assets of $243,845,427, as reported on the statement of net position, represents capital assets, net of am rmulated depredation and amortization, of $1,290,728,275 less the related debt of $1,046,882,848. The related debt includes the portion of the sales tax revenue and tdl revenue bonds that was used for the development of tolled express lane capital assets. The defidt in business -type activities will be reduced by future tdl revenues for the payment of outstanding tdl obligations. Capital assets, net Less: related debt Total $ 676,646,246 (261,150,469) 415,495,777 614,082,029 (785,732,379) (171,650,350) $ 243,845,427 $ 1,290,728,275 (1,046,882,848) Additionally, the statement of net position reports $1,245,854,326 of restricted net position, of which $529,039,259 is restricted by enabling legislation with the remaining balance reported as an unrestricted deficit of $540,884,718. Fund balances: Govemmental Funds: Measure A Measure A sales tax revenues are allocated to the three defined geographic areas of Riverside County, consisting of Westem County, Coachella Valley, and Palo Verde Valley in proportion to the funds generated within those areas. Revenues must then be allocated to the programs of the geographic areas according to percentages as defined by the Measure A ordinance and are legally restricted for applicable program expenditures. Bond and corn erdal paper note proceeds are allocated to the geographic areas based on the estimated u..,co. Accordingly, the related fund balances are dassified as follows: Highways: Funds are to be used for project costs induding engineering, right of way acquisitions, and construction of the VVestem County highways and Coachella Valley highways and regional arterials. Funds for new corridors are to be used for environmental dearance, right of way acquisition, and construction of four new Western County transportation conidors identified through CETAP. In order to attract commercial and industrial development and jobs in the VVestem County, funds are expended to create an infrastructure improvement bank to improve and construct interchanges, provide public transit linkages or stations, and make other improvements to the transportation system Funds are also provided to support bond financing costs. These program funds are intended to supplement existing federal, state, and local resources. Coachella Valley highway and regional arterial funds are matched by TUMF revenues generated in the Coachella Valley. Accordingly, funds for highways, Coachella Valley regional arterials, new corridors, economic development, and bond financing are reflected as restricted for these specific purposes as stipulated by the 1989 Moavure A and 2009 Measure A Commuter rail: Funds for rail operations and to match federal funds for capital are restricted as stipulated by the 2009 Mca,ure A VVestem County public transit program Certain state revenues are restricted for the planning and development of the new Coachella Valley/San Gorgonio Pass corridor rail service. Regional arterials: Funds for regional arterials are used to implement the planned Western County regional arterial system, as defined by WRCOG. Local streets and roads: Funds to be expended by local jurisdictions for the construction, repair, and maintenance of local streets and roads are reflected as restricted as stipulated by the 2009 Measure A The County and local sties are required to supplement those expenditures with other previously dedicated revenue sources to maintain road improvements. Monies are disbursed to the jurisdictions which comply with the requirements to maintain the same level of funding for streets and roads as existed prior to the passage of the 2009 Measure A and participate in TUMF (as applicable in the Westem County and Coachella Valley arms) and the MSHCP in Westem County and which annually subrrit a five- year capital improvement plan. 62 Riverside County Transportation Commission Notes to Basic Financial Statements June 30, 2022 Note 8. Net Position and Fund Balances, Continued Commuter assistance and transit: Funds for public transit are used to promote and subsidize commuter assistance programs such as ridesharing and telecomrruting and specialized transportation to guarantee reduced transit fares, expand existing transit services, and implement new transit services for seniors and persons with disabilities. Those funds are restricted as stipulated by the 2009 Measure A Funds for intercity bus services in VVestern County and bus replacement and more frequent service in the Coachella Valley are restricted as stipulated by the 2009 Measure A Debt service: Certain bond proceeds that have been used to make required sinking fund payments in the Debt Service fund as required by the bond agreements are classified as restricted. Amounts held by the trustee equal to the maximum annual debt service are recorded in the Debt Service fund as restricted. Transportation Development Act: Restricted fund balance for the LTF represents the apportionments related to transit programs by geographic area, bicycle and pedestrian facilities, and planning and programming services and unapportioned revenues. Restricted fund balance for the STA and State of Good Repair represents the apportionments for transit by geographic area. The TDA restrictions at June 30, 2022 are as follows: Bicycle and pedestrian facilities Transit and specialized transportation Westem County: Bus transit: City of Banning City of Beaumont City of Corona City of Riverside Riverside Transit Agency Apportioned and unallocated Commuter rail: Commission Apportioned and unallocated Total Westem County Coachella Valley: R LsTransit SunLine Transit Agency Apportioned and unallocated Commuter rail: Commission Apportioned and unallocated Total Coachella Valley Palo Verde Valley: Palo Verde Valley Transit Agency Apportioned and unallocated for transit Total Palo Verde Valley $ 8,347,486 19,286 2,458,675 149,268,100 37,098,886 188,844,947 3,159,278 4,983,218 1,270,193 283,361 47,479,550 19,882,507 1,893,358 40,154,995 45,722 235,653 433,130 404,448 4,393,403 1,348,193 $ 8,347,486 3,224,286 5,218,871 1,703,323 687,809 54,331,628 170,498,800 968,068 2,861,426 77,253,881 119,106,460 7,828,617 315,780,024 1,361,560 37,462,926 10,038,917 1,880,037 2,428,349 907,935 13,828,826 40,250,898 35,447 — 35,447 194,421 — 194,421 38,824,486 12,148,822 3,336,284 54,309,592 2,220,581 2,220,581 98,151 58,546 156,697 301,981 51,000 2,573,562 400,132 109,546 2,730,259 Unapportioned funds 38,617,395 Total transit and specialized transportation 38,617,395 $ 276,854,895 $ 131,655,414 $ 11,274,447 $ 419,784,756 63 Riverside County Transportation Commission Notes to Basic Financial Statements June 30, 2022 Note 8. Net Position and Fund Balances, Continued Commuter rail: Restricted fund balances in the General fund and a nonrrajor governmental fund represent TDA monies to be used for commuter rail operations and capital. Transportation Uniform Mitigation Fee: TUMF revenues to be received by the Commission are to be used for new CEL4P corridors and the regional arterial system in 'in Western County and are restricted as fellows: CETAP: Funds for the development of new transportation corridors are used to provide congestion relief and mobility within the County and between the County and its neighboring Orange and San Bernardino counties. Funds wiII betrothed by revenues of $370 Trillion generated from the 2009 Measure A Regional arterials: Funds for regional arterials are used to implement the planned Western County regional arterial system Funds will be matched by revenues of $300 million generated from the 2009 Measure A Prepaid amounts: Prepaid amounts are reported as nonspendable fund balance as they are in nonspendable form. Leases: Leases are reported as nonspendable fund balance as they are in nonspendable form Motorist assistance: Funds in the Service Authority for Freeway Emergencies and Freeway Service Patrol Spedal Revenue funds are reported as nonmajor governmental funds of $5,482,971 and $6,944,472, respectively, to assist motorists on County roads are restricted as stipulated by the State. General govemment: Funds allocated by Measure A, TUMF, LTF, motorist assistance, STA, Coachella Valley Rail, and SB 132 programs to the General Fund have been assigned by the Commission for general government administration. Unassigned: The SB 132 Spedal Revenue fund and Regional Conservation Nonmajor fund reported a negative unassigned fund balance of $385,823 and $3,933, respectively. The Commission anticipates future reimbursements from Caltrans will reduce the negative fund balance. Proprietary Funds: RCTC 91 Express Lanes: Restricted net position for tell operations consists of net tell revenues from toll operations in the ROTC 91 Express Lanes Enterprise fund in accordance with the tell bond indenture. 15 Express Lanes: Restricted net position for toll operations consist of net toll revenues from toll operations in the 15 Express Lanes Enterprise fund in accordance with the toll bond indenture. Note 9. Commitments and Contingencies L Real property and project agreements: The Commission has entered into other agreements in the ordinary course of business with companies and other governmental agencies for the acquisition of real property as well as the engineering and construction of certain highway and commuter rail projects. These agreements, wtlich are significant, are funded with available and future revenues and debt proceeds. Litigation: Certain claims involving disputed construction costs and property acquisition casts, including goodwill dairrs, have arisen in the ordinary course of business. Additionally, the Commission is a defendant in lawsuits. Although the outcome of these nutters is not presently deteminable, management does not expect that the resolution of these matters will have a material adverse impact on the financial condition of the Commission. 64 Riverside County Transportation Commission Notes to Basic Financial Statements June 30, 2022 Note 10. Joint Agreements 1 Joint ventures: The Commission is one of five members of the SCRRA, an independent joint powers authority created in June 1992. The SCRRAs board consists of one member from the Ventura County Transportation Commission; two each from the Orange County Transportation Authority (OCTA), the San Bernardino Associated Governments, and the Commission; and four members from the Los Angeles County Metropolitan Transportation Authority. The SCRRA is responsible for implementing and operating a regional commuter rail system (Metrolink) in five southern California counties. As a member of SCRRA, the Commission makes capital and operating contributions for its pro rata share of rail lines servicing the County. The Commission expended $2,437,202 and $4,732,401 during 2022 for its share of Metrdink operating and capital costs, respectively. As of June 30, 2022, cumulative capital contributions were $63,725,409. Other funds for rail service are contributed to the SCRRA by the State from state rail bonds on behalf of the Commission. Separate financial statements are prepared by and available from the SCRRA, which is located at 900 WIshire Boulevard, Suite 1500, Los Angeles, California 90017. In May 2013 the Commission became a full voting member of the Los Angeles —San Diego --San Luis Obispo (LOSSAN) Rail Corridor Agency with the intent to have greater involvement in regional rail issues because of its legal ownership rights regarding passenger rail service between Fullerton and Los Angeles. The LOSSAN Rail Corridor Agency is a locally govemed joint powers authority comprised of 13 agencies created to oversee the intercity passenger rail service in the travel corridor between San Diego and San Luis Obispo County. The Commission's share of adrrinistration costs is subject to future negotiations; however, during 2022 the Commission contributed $0 for adrrinistration efforts. In May 2017, the Commission became a member of the Califomia Vanpod Authority (CalVans) to share resources and provide public vanpod transportation options for the traveling public. CalVans is ajoint powers authority comprised of 12 agencies created to operate vanpool services within the territories of the menter agencies. The Cormssion did not expend any funds during 2022 for CalVans. RCTC 91 Express Lanes cooperative agreements: The RCTC 91 Express Lanes are jointly operated with the existing OCTA 91 Express Lanes and collectively referred to as the 91 Express Lanes. Under the Orange -Riverside Cooperative Agreement, which was entered into in December 2011, the Commission and OCTA agreed on the use of the same initial toll operator, cost and revenue sharing, toll policies, business rules, interoperability of technology, and marketing activities as well as OCTA review of design plans and construction activities for the 91 Project. In May 2013 the Commission entered into a three -party agreement with OCTA and the third -party toll operator, for the operations of the 91 Express Lanes. This ensures a streamlined and consistent intercounty travel for motorists on the OCTA 91 Express Lanes in Orange County and RCTC 91 Express Lanes in Riverside County. The third -party toll operator provides operating services in the annual amount of $6,087,538 plus inflation for five initial years with two extension options, sutlect to Board of Commissioners approval. The third -party toil operator is responsible for the day-to-day operations of the toll facility; another contractor is responsible for maintaining the roadside toil collection system under a separate agreement with the Corrrission. The three -party agreement expired on March 6, 2022 and was arronded March 7, 2022 for an initial five-year terra with two 36 month options, not to exceed 13 years. In November 2019, the Commission awarded an agreement to the third -party operator to develop and install a new back office system and to provide express lane operator services, induding the back office and customer services center. The agreement is a throe party contract induding OCTA The contract has a five-year term beginning upon completion and irrplerrentation of the new back -office system, plus two 3 -year options, to operate both the OCTA and RCTC 91 Express Lanes. The operating term began on March 7, 2022 with the conversion to the new back -office system 65 Riverside County Transportation Commission Notes to Basic Financial Statements June 30, 2022 Note 10. Joint Agreements, Continued m»»F Management services agreement: The Conrrission and RCA entered into an Implementation and Management Services Agreement effective January 1, 2021. Under the agreement, the Commission shall adrrinister, coordinate, and supervise the activities of the RCA as set forth in the RCA Joint Exercise of Powers Agreement and shall act for RCA in accomplishing its purposes. The RCA oversees and administers the Multiple Species Habitat Conservation Plan (MSHCP), one of America's most ambitious environmental efforts, in support of its member agencies. The MSHCP is a corrprehensive, multi jurisdictional habitat conservation plan focusing on the permanent conservation of 500,000 acres and the protection of 146 covered species, including 33 that are currently listed as threatened or endangered. RCA reimbursed the Comrrission $3,974,227 during the year ended June 30, 2022 in connection with the management services provided under this agreement. Note 11. Employees' Pension Plans General Information about the CaIPERS Pension Plan: The Commission contracts with CaIPERS to provide its employees retirerrent as well as death and retirerrent disability benefits, which are paid by the CaIPERS under a cost sharing multiple - employer plan. CaIPERS issues publicly available reports that include a full description of the pension plan regarding benefit provisions, assumptions and membership information that can be obtained from its executive office located at 400 P Street, Sacramento, Califomia 95814, or by visiting the Cal PERSwebsite at www.calpers.ca.gov. All permanent Commission employees are eligible to participate in the Mscellaneous Enployee Pension Ran, cast -sharing multiple employer defined benefit pension plan administered by CaIPERS. Benefit provisions under the Plan are established by State statute and Commission resolution. Benefits Provided — CaIPERS provides service retirement and disability benefits, annual cost of living adjustments and death benefits to plan members, who must be pubic employees and beneficiaries. Benefits are based on years of credited service, equal to one year of full-time errployment. Employees hired prior to January 1, 2013 and attaining the age of 55 with five years of credited Califomia service (service) are eligible for normal retirement and are entitled to a monthly benefit of 2.7% of their final compensation for each year of service. Final compensation is defined as the highest annual salary eamed. Retirement may begin at age 50 with a reduced benefit rate. The plan also credits employees for unused sick leave. Employees hired on or after January 1, 2013 who are not "classic" members and attaining the age of 62 with five years of credited service are eligible for nominal retirement and are entitled to a monthly benefit of 2% of their three-year final compensation for each year of service. Retirement may begin at age 52 with a reduced benefit rate. Upon separation from the plan prior to retirement, renters' accumulated contributions are refundable with interest credited through the date of separation. All members are eligible for non -duty disability benefits after 10 years of service. The pre -retirement death benefit is one of the following: the 1957 Survivor Benefit — level 3 or the Optional Settlement 2W Death Benefit. The post -retirement death benefit is one of the following: lump sum or survivor allowance. The cost -of -living adjustments for each plan are applied as specified by the Public Employees' Retirement Law. The Ran provisions and benefits in effect at June 30, 2022, are surrrrrarized as fellows: Benefit formula Benefit vesting schedule Benefit payments Retirement age Monthly benefits, as a % of eligible compensation Required employee contribution rates Required Commission contribution rates Miscellaneous Prior to January 1, 2013 On 2.7%@55 5 years of service Monthly for life 50-55 2.0%to 2.7% 8.00% 16.18% or after January 1, 201 2%@62 5 years of service Monthly for life 52-62 1.0%to 2.0% 8.00% 7.90% 66 Riverside County Transportation Commission Notes to Basic Financial Statements June 30, 2022 Note 11. Employees' Pension Plans, Continued i Contributions - Section 20814(c) of the Califomia Public Employees' Retirement Law requires that the employer contribution rates for all public employers be determined on an annual basis by the actuary and shall be effective on the July 1 following notice of a change in rate. Funding contributions for the Plan are determined annually on an actuarial basis as of June 30 by CaIPERS. The actuarially determined rate is the estimated amount necessary to finance the costs of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability. The Commission is required to contribute the difference between the actuarially determined rate and the contribution rate of employees. For the year ended June 30, 2022, the contributions recognized as part of pension expense for the Ran were as fdlows: Contributions - Corrrrission Contributions - Errployee $ 1,203,364 708,067 Pension Liabilities, Pension Expenses, and Deferred Outflows/Inflows of Resources Related to Pensions: As of June 30, 2022, the Commission reported a net pension asset for its proportionate shares of the net pension asset of the Plan as follows: Proportionate Share of Net Pension Asset Miscellaneous $ 6,394,605 The Commission's net pension asset for the Plan is measured as the proportionate share of the net pension asset. The net pension asset of the Plan is moo:ured as of June 30, 2021, and the total pension asset for the Plan used to calculate the net pension asset was detemined by an actuarial valuation as of June 30, 2020 rolled forward to June 30, 2021 using standard update procedures. The Commission's proportion of the net pension asset was based on a projection of the Commission's long- term share of contributions to the pension plan relative to the projected contributions of all participating employers, actuarially determined. The Commission's proportionate share of the net pension asset for the Ran as of June 30, 2020 and 2021 is as follows: Proportion -June 30, 2021 Proportion -June 30, 2022 Change - Increase (Decrease) 0.00482% (0.11824%) (0.12305%) For the year ended June 30, 2022, the Commission recognized pension expense/(credit) of ($10,720,764). At June 30, 2022, the Commission reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: Deferred Outflows of Deferred Inflows of Resources Resources Pension contributions subsequent to measurement date Differences between actual and expected experience Changes in assurrptions Differences between contributions and the proportionate share of contributions Changes in Cormission's proportion Net differences between projected and actual earnings on plan investments Total 1,203,364 4,030,875 958,404 5,582,152 717,086 780,840 3,687,517 $ 11,774,795 $ 5,185,443 The $1,203,364 reported as deferred outflows of resources related to contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the subsequent fiscal year. Other amounts reported as deferred outflows of resources and deferred (inflows) of resources related to pensions will be recognized as pension expense as follows: 67 Riverside County Transportation Commission Notes to Basic Financial Statements June 30, 2022 Note 11. Employees' Pension Plans, Continued i 2023 $ 1,292,034 2024 1,275,377 2025 1,275,959 2026 1,542,619 $ 5,385,989 Actuarial Methods and Assumptions —The total pension liability in the June 30, 2021 actuarial valuation was detemined using the following actuarial assumptions: Valuation Date Measurement Date Actuarial Cost Method Actuarial Assumptions: Discount Rate Inflation Projected Salary Increase Investment Rate of Return Mortality June 30, 2020 June 30, 2021 Entry -Age Normal Cost Method 7.15% 250% Varies by entry age and service 7.15% net of pension plan investment and administrative expenses, indudes inflation Derived using CaIPERS' membership data for all funds The underlying mortality assumptions and all other actuarial assurrptions used in the June 30, 2020 valuation were based on the results of a December 2017 actuarial experience study report (based on demographic data for the period 1997 to 2015). Further details of the experience study can be found on the CalPERS website. Discount Rate — The discount rate used to rnoasure the total pension liability was 7.15% for the Ran. The projection of cash flows used to detemine the discount rate assumed that contributions from plan members will be made at the current member contribution rates and that contributions from employers will be made at statutorily required rates, actuarially detemined. Based on those assurrptions, the Plan's fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of retum on plan investments was applied to all periods of projected benefit payments to determine the total pension liability. Long -Term Expected Rate of Retum — The long-term expected rate of retum on pension plan investments was deterined using a building-block method in which expected future real rates of retum (expected returns, net pension plan investment expense and inflation) are developed for each major asset dass. In detemining the long-term expected rate of return, CaIPERS considered both short-term and long-term market retum expectations as well as the expected pension fund cash flows. Using historical returns of all the funds' asset classes, expected corrpound (geometric) returns were calculated over the short-term (first 10 years) and the long-term (11 years +) using a building- block approach. Using the expected noninal retums for both short -temp and long -temp the prcscnt value of benefits was calculated for each fund. The expected rate of retum was set by calculating the rounded single equivalent expected retum that arrived at the same present value of benefits for cash flows as the one calculated using both short-term and long-term returns. The expected rate of return was then set equal to the single equivalent rate calculated above and adjusted to account for assumed admnistrative expenses. 68 Riverside County Transportation Commission Notes to Basic Financial Statements June 30, 2022 Note 11. Employees' Pension Plans, Continued a The table below reflects the expected real rates of retum by asset class. Fixed Income Inflation Assets Private Equity Public Equity Real Estate Liquidity Total 28.0% 8.0% 50.0% 13.0% 1.0% 100% 1.00% 0.77% 6.30% 4.80% 3.75% 2.62% 1.81% 7.23% 5.98% 4.93% (0.92%) (a) In the CaIPERS annual report, fixed income is included in Gobal Debt Securities; Inflation Assets are included in both Gobal Equity Securities and Gobal Debt Securities; and Liquidity is included in short-term investments. (b) Ai expected inflation rate of 2.0% used for this period. (c) An expected inflation rate of 2.92% used for this period. Sensitivity of the Collective Net Pension Liability to Changes in the Discount Rate — The following presents the Commission's collective net pension liability/(asset) for the Plan, calculated using the discount rate for the Plan, as well as what the Commission's collective net pension asset would be if it were calculated using a discount rate that is 1% below or 1% higher than the current rate: 1% Decrease Net Pension Asset Current Discount Rate Net Pension Asset 1% Increase Net Pension Asset 6.15% ($540,175) 7.15% ($6,394,605) 8.15% ($11,234,379) Pension Plan Fiduciary Net Position — Detailed information about the pension plan's fiduciary net position is available in the separately issued CaIPERS financial reports. Payable to the Pension Plan — At June 30, 2022, the Commission reported a payable of $0 for the outstanding amount of contributions to the pension plan required for the year ended June 30, 2022. 401(a) plan: The Commission offers its employees a 401(a) single employer defined contribution plan referred to as the Money Purchase Ran & Trust (Plan), which covers all permanent full-time employees. Er r ployees are fully vested in the Plan after five years. The Ran, which is administered by the International City/County Management Association (ICMA), requires the Commission to make a contribution of 7.5% of the employees' eamings for the Ran year. Fiduciary responsibility and reporting of the Ran assets rests with ICMA The Commission has the authority to amend the contribution requirements. Total payroll for covered employees for the current year was $9,301,613. The Commission's contributions to the Plan were $672,801 for the year ended June 30, 2022. Plan description — The Commission's OPEB plan through the CERBT, is an agent multiple employer defined benefit plan for eligible retirees and their dependents. CERBT issues a publidy available financial report that can be obtained from its executive office or its website. 69 Riverside County Transportation Commission Notes to Basic Financial Statements June 30, 2022 Note 12. Post -employment Benefits Other Than Pensions (OPEB) Benefits provided — The Commission provides post -employment health benefits for eligible retirees and their dependents at retirement. For employees hired on or after January 1, 2007, retirees must have a minimum of 10 years of PERS service and no less than five years of Corrnission service in order to receive post -employment health benefits in accordance with PERS as per Government Code Section 22893. For employees hired prior to January 1, 2007, retirees are not required to meet the eligibility criteria and may receive post -employment health benefits at the monthly health benefit rate paid for active employees, which was $750 at June 30, 2022. The Commission's contributions toward premiums for retiree health insurance are coordinated with Medicare and other benefits provided by federal and state law, when available, to the extent it reduces the cost of insurance premiums. Employees covered by benefit terns at June 30, 2022 are as fellows: Inactive employees or beneficiaries currently receiving benefit payments 29 Active employees 67 Total 96 Contributions — The contribution requirements of plan members are established and may be amended by the Commission. The Commission has adopted a policy to fund 100% of the actuarially determined amount. For the year ended June 30, 2022, the Commssion's average contribution rate was 10.7% of covered -employee payroll. Employees are not required to contribute to the plan. Net OPEB Liability —The Cornrrission's net CPEB liability was measured as of June 30, 2021, and the total OPEB liability used to calculate the net OPEB liability was determined by an actuarial valuation as of that date. Actuarial assumptions — The total OPEB liability in the June 30, 2021 actuarial valuation was determined using the following assumptions, applied to all periods included in the measurement, unless otherwise specified: Inflation Salary increases Investment rate of retum Healthcare cost trend rates 2.75% per annum 3.00% aggregate 5.25% Non -Medicare: 7.0% for 2022, decreasing to an ultimate rate of 4.0% in 2076 and later years Medicare: 6.1% for 2022, decreasing to an ultir r cite rate of 4.0% in 2076 and later years Mortality rates are based on projected fully generational with Scale MP -2020. The actuarial assumptions used in the June 30, 2021 actuarial valuation were based on the results of an actuarial experience study for the period July 1, 2020 to June 30, 2021. The Iong-term expected rate of retum on OPEB plan investments was determined using a building-block method in which expected future real rates of retum (expected retums, net of OPEB plan investment expense and inflation) are developed for each major asset class. In determining the long-term expected rate of retum, CaIPERS considered both short-term and long-term market retum expectations as well as the expected pension fund cash flows. Using historical retums of all the funds' asset dasses, expected compound (geometric) retums were calculated over the short-term (first 10 years) and the long-term (11 years +) using a building- block approach. Using the expected nominal returns for both short-term and long -temp the present value of benefits was calculated for each fund. The expected rate of retum was set by calculating the rounded single equivalent expected retum that arrived at the same present value of benefits for rash flows as the one calculated using both short-term and long-term retums. 70 Riverside County Transportation Commission Notes to Basic Financial Statements June 30, 2022 Note 12. Postemployment Benefits Other Than Pensions (OPEB), Continued The expected rate of retum was then set equal to the single equivalent rate calculated above and adjusted to account for assumed administrative expen . Asset Class Target Expected Real Allocation Rate of Return Strategy 2 Global equity Fixed income TIPS Commodities REITs Assumed long -teen rate of inflation Expected long-term net rate of retum 40% 43% 5% 4.56% 0.78% (0.08%) 4% 1.22% 8% 4.06% 2.75% 5.25% Discount rate — The discount rate to measure the total CPEB liability was 5.25%. The projection of cash flows used to determine the discount rate assumed that contributions from the Corrrrission will be made at contractually required rates, actuarially detemined. Based on this assumption, the OPEB plan's fiduciary net position was projected to be available to make projected OPEB payments for current and inactive employees. Therefore, the long-term expected rate of retum on OPEB plan investments was applied to all periods of projected benefit payments to determine the total CPEB liability. Changes in the Net OPEB Liability —The changes in the net OPEB liability (asset) from the measurement date of June 30, 2020 to June 30, 2021 are as follows: Balances at June 30, 2020 (measurement date) Changes for the year: Service cost Interest Assumption changes Contributions — employer Experience Net investment income Benefit payments Administrative expense Net changes Balances at June 30, 2021 (moasurement date) Increase(Decrease) Total OPFB Plan Fiduciary Net Net OPEB Liability Liability A Position (Asset) 8,363,400 $ 9,102,600 $ (739,200) 421,100 — 421,100 496,000 — 496,000 161,400 161,400 728,300 (728,300) (388,000) — (388,000) 1,825,700 (1,825,700) (315,700) (315,700) — (5,700) 5,700 374,800 2,232,600 (1,857,800) $ 8,738,200 $ 11,335,200 $ (2,597,000) Sensitivity of the net OPEB liability to changes in the discount rate — The following table presents the Commission's net OPEB liability (asset), as MI as what the Commission's net OPEB liability would be if it were calculated using a discount rate that is 1% below or 1% higher than the current discount rate: 71 Riverside County Transportation Commission Notes to Basic Financial Statements June 30, 2022 Note 12. Postemployment Benefits Other Than Pensions (OPEB), Continued 1% Decrease Net OPEB Asset Current Discount Rate Net OPEB Asset 1% Increase Net OPEB Asset 4.25% ($1,307,600) 5.25% ($2,597,000) 6.25% ($3,644,000) Sensitivity of the net OPEB liability to changes in the healthcare cost trend rates — The following table presents the net OPEB liability (asset) as well as what the Cormission's net OPEB liability would be if it were calculated using healthcare cost trend rates that are V/0 below or 1% higher than the current healthcare cost trend rates: 119 1°/0 Decrease Net OPEB Asset 1% Decrease ($3,726,x) Current Healthcare Trend Rate Current Trend Net OPEB Asset ($2,597,000) 1%Increase Net OPEB Asset 1% Increase ($1,188,000) OPEB plan fiduciary net position — Detailed inforrration about the OPEB plan's fiduciary net position is available in the separately issued CERBT financial reports at https://www.oalpers.ca.gov/page/errployers/benefit-programs/cerbt. OPEB expense and deferred outflows of resources and deferred inflows of resources related to OPEB — For the year ended June 30, 2022, the Commission recognized OPEB expense/(income) of ($40,700). At June 30, 2022 the Commission reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following sources. Deferred Outflows of Deferred Inflows of Resources Resources Contributions subsequent to measurement date Changes in as a iv ions Differences between actual and expected experiences Net differences between projected and actual earnings on plan investments Total $ 884,100 221,000 108,700 535,900 1,074,700 $ 1,105,100 $ 1,719,300 The $884,100 reported as deferred outflows of resources related to oontributions subsequent to the measurement date will be recognized as a reduction of the net OPEB liability in the subsequent fiscal year. Arnounts reported as deferred outflows of resources and deferred inflows of resources related to OPEB will be recognized in OPEB expense as fellows: 2023 $ (371,300) 2024 (350,300) 2025 (325,100) 2026 (334,000) 2027 (53,500) Thereafter (64,100) $ (1,498,300) Payable to the OPEB Plan — At June 30, 2022 the Commission reported a payable of $0 for the outstanding amount of contributions to CERBT required for the year ended June 30, 2022. 72 Riverside County Transportation Commission Notes to Basic Financial Statements June 30, 2022 Note 13. Measure A Conformance Requirements Measure A requires that the sales taxes collected may only be used for transportation purposes induding administration and the construction, capital acquisition, maintenance, and operation of streets, roads, highways induding state highways, and public transit systerrs and for related purposes. These purposes indude expenditures for planning, environmental reviews, engineering and design 'posts, and related right of way acquisition. Note 14. Adoption of GASB Statement No. 87, Leases As of July 1, 2021, the Commission adopted GASB Statement No. 87, Leases. The Statement requires recognition of certain lease assets and liabilities for leases that previously were classified as operating leases and recognized as inflows of resources or outflows of resources based on the payment provisions of the contract. Beginning balances of lease receivables, assets, liabilities, and deferred inflows were restated to adopt the provisions of GASB Statement No. 87, Leases as fellows: Recognition of right to use IP2se asset Recognition of lease receivable Recognition of lease liability Recognition of deferred inflows from leases Net position / fund balance at July 1, 2021, as adjusted Governmental Measure A Transportation Uniform Activities lAbstem County Mitigation Fee 736,724,900 $ 78,416,512 $ 123,065,220 3,976,227 (3,976,227) 1,150,135 242,894 (1,150,135) (242,894) $ 736,724,900 $ 78,416,512 $ 123,065,220 Net position / fund balance at July 1, 2021, as previously reported Recognition of right to use IPA asset Recognition of lease receivable Recognition of lease liability Recognition of deferred inflows from Icx..cs Net position / fund balance at July 1, 2021, as adjusted Note 15. Pronouncements ents Issued, Not Yet Effective $ (54,265,000) $ 379,833 231,197,152 379,833 (379,833) (379,833) $ (54,265,0W) $ 231,197,152 The GASB pronouncements issued prior to June 30, 2022 that have an effective date that may impact future financial presentations indude: • GASB Statement No. 91, Conduit L bt Obligations, effective for fiscal years beginning after December 31, 2022; • GASB Statement No. 94, Public -Private and Public -Public Partnerships and Availability Payment Arrangements, effective for the fiscal year that ends June 30, 2023; • GASB Statement No. 96, Subscnption-Based Information TechnologyArrangerrents, effective for the fiscal year that ends June 30, 2023; • GASB Statement No. 99, Crrnibus 2022 (The requirements related to extension of the use of LIBOR accounting for SNAP distributions, disclosures of nonmonetaty transactions, pledges of future revenues by pledging govemments, clarification of certain provisions in Statement 34, as amended, and terinology updates related to Statement 53 and Statement 63 are effective upon issuance.), effective for fiscal years beginning after June 15, 2022; • GASB Statement No. 100, Accounting Changes and Error Corrections, effective for fiscal years beginning after June 15, 2023; and • GASB Statement No. 101, Compensated Absences, effective for fiscal year ending June 30, 2024. 73 Required Supplementary Information Riverside County Transportation Commission Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual - General Fund Year Ended June 30, 2022 General Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Revenues Intergovemrrental $ 19,015,500 $ 19,015,500 $ 7,209,094 $ (11,806,406) Investment income (lass) 17,600 17,600 (488,441) (506,041) Other 1,300 1,300 1,271,282 1,269,982 Total revenues 19,034,400 19,034,400 7,991,935 (11,042,465) Expenditures Current: General government 10,658,400 10,692,400 - 10,692,400 Commuter rail 32,492,700 31,072,700 8,326/1'1'1 22,746,256 Planning and programming 4,981,200 4,495,900 3,760,366 735,534 Transit and specialized transportation 1,329,800 1,326,100 823,213 502,887 Total programs 49,462,100 47,587,100 12,910,023 34,677,077 Debt service: Principal - - 556,019 (556,019) Interest - - 49,958 (49,958) Total debt service - - 605,977 (605,977) Capital outlay 1,230,000 3,368,000 2,044,443 1,323,557 Total expenditures 50,692,100 50,955,100 15,560,443 35,394,657 Excess (deficiency) of revenues over (under) expenditures (31,657,700) (31,920,700) (7,568,508) 24,352,192 Other financing sources (us> ) Transfers in 25,036,200 26,579,200 5,438,987 (21,140,213) Transfers out (1,618,100) (1,618,100) - 1,618,100 Total other financing sources (us,cs) 23,418,100 24,961,100 5,438,987 (19,522,113) Net change in fund balances $ (8,239,600) $ (6,959,600) (2,129,521) $ 4,830,079 Fund balances at beginning of year 37,918,031 Fund balances at end of year $ 35,788,510 See notes to required supplementary inforimtion 75 Pfverside County Transportation Conrrission Schedule of Revenues, Expenditures and Changes in Fund Balance Budget oodd Actual - Major ',al Revenue Funds Year Ended June 30, 2022 Naas se Masten, County Reams ACoachella Valley Variance vtith Variancevdlh Final Budget Rnal Ekidget Qigiral Final Positive Quin Rral Positive Bad Budget Acted (Negative) 9ABA Budget Actual ( os) Firivaxes Selestaxes $ 164,100.000 $ 195,357,000 $ 224,230,486 $ 28,873,486 $ 44,983,000 $ 53,549,000 $ 54,599,526 $ 1,050,526 Tradspxtafim UJn'tamM5gaficn Fee - - - - - - Intergovernmental 124,945,700 124,945,700 68,884,142 (56,061,558) Investment income (loss) 25,9,600 259,600 (4,451,865) (4,711,465) 49900 49,000 (1,396,589) (1,445,569) Ctler 11,084,600 11,084,600 1,607,074 (9,477,526) - - - - Total re enus 300,389,900 331,646,9170 290,269,837 (41,377,1763) 45,029,000 53,5E6,003 53,202937 (39.5,063) EN:en:M res Cunene C -stool goverment 667,500 668,500 329,937 338,565 - - - - Beydeand pedestrian failNes - - - - CETPP - - - - - - - Carmrterassistance 4,487,100 4,487,100 3,434,404 1,052,696 - - - - CormUerrail 26,344,200 26,195,200 12,079,835 14,115,365 - - - Figluays 188,026,300 2)0,925,000 108,061,204 92,863,796 30,019,300 25,399,300 21,137,761 4,261,x"39 Loral steels and roads 47,260,700 64,563,900 64,733,276 (169,306) 15,627,700 18,940,500 19,106834 (169,334) Banning and programing - - - - - Regional arterials 5,568,690 8,036,670 3,207,422 4,829,178 - - - Transit and specialized transportation 12788,500 12791,500 6,810,521 5,980,979 7,000,000 7,000,000 7,152400 (152,400) Total programs 285,142,930 317,667$)0 198;658,5.29 119,011271 52,617,000 51,369,800 47,399,995 3,939,835 Ilet8service: Ftircip9 - 22,192 (7{192) Interest - - 728 (725) Total deft senrice - - 22,920 (22,920) Capital outlay 4,949,700 4,811,000 3,905,970 935930 Toted evencit ores 290,052,690 3224766)0 .202,585,419 119,893,381 52,647,000 51,369,800. 47,699;995 3,939,615 Excess (deficiency) of revalues over (alder) eryerditues 10,297,300 9,168,100 87,684,418 78,516,318 (7,618,000) 2,258,270 5,692,942 3,544,742 Clher financing sources (uses) Debt issuance 6,919,000 6,919,000 - (6,919,000) - - - - Leaseliabilifiesissued - - - - - Tr in 57,753,200 57,753,200 37,291,327 (20,461,873) 124,046 124,086 Tref fors out (104,840,700) (104,840,700) (fe,163,145) 35,677,555 (345,800) (345,800) 345,800 Total atlerfirv7drg sources (uses) (40,168,500) (40,168,500) (31,871,818) 8296682 (345,800) (345,800) 124,066 469,886 N9 change infuse balances $ (29,871,200) $ (31,000,400) 55,812800 $ 86,813,000 $ (7,963,800) $ 1,912,400 5,977,028 $ 4,014,678 Fund baannces at begming ofyear 323,627,591 78416,512 Fi d Manses ated of year $ 379,440,191 $ 84,343,540 See hares to rey7dred s prplerrer4ay irdonr06al Riverside County Transportation Comrission Schedule of Revenues, Expendtures and Changes in Fund Balance Budget and Actual - Major Special Revenue Funds, Continued Year Ended June 30, 2022 Transportation Uniform M6ga6on Fee Local Transportation Fund Variancevith Vaiancevdth Frei Budget Final Budget Original Final Positive trigirW Anal Positive Budget Budget Actual (Negative) Bui}t Budget Actual (Negmve) Ftvennes Sales taxes $ - $ - $ - $ - $ 105,000,000 $ 127,000,600 $ 150,693950 $ 73,693,950 Tra q xtafim UniformMfigatrm Fee 11,000,0% 30,000,000 35,509,031 5,509,031 Intergovernmental - 4,673,378 4,873,378 1,996,0% 1,996,063 IrrvesNrnt income )loss) 50,333 50,300 (2,081,095) (2,132195) 174,400 174,460 (3,996,140) (4,170,540) Clher 18,000 18,000 23,285 11,E - - - - Total revs nEs 11,0%,300 30,068300 38,129,799 8,061,499 1175,174,400 127,174,400 148,%3,873 21,519,473 Ecerditu s anent General gosmens Bicycle and pedestrian facilities CETPP 9,290,209 8,286270 5,279,295 3,000,935 Camuterassistance - - Corrmterrall 1-821.eys - Local streets and roads - - Ranirgand pogcarrnrg - - - Regionalatenals 26,162600 26,172,%0 21,171,922 5,080,678 Transit and specialized traoµ.C>b n Tad prgrars 35,452,800 34,452800 26451,217 8,001,583 Debt senke Rirdpal Interest Total debt service Capital outlay Totalelgendtres 35,452800 34,452800 26,451217 8,901,5% 67,913,000 88,298,080 50;946,413 17,351,587 Excess (deficiency) d revenues over (coder) expenditures (24,384,9:0) (4,384,500) 11,678,582 16,0%,082 37,281,400 56876,400 97,747,4% 38,871,060 12000 l21700 12000 2509,000 2500,009 1,587,819 912181 788,000 1,173,000 1,173,000 64,613,000 64,613,000 48,173,554 16,439,406 67,913,000 68,298,00 56946,413 17,351,557 Otherfinmdrg sources (uses) Debt issuance - - - - Leese liabili0esissued - - - - Traoraain 125,000 125,000 41,511 (83,489) Tr a ofera cut (28,133,100) (28,133,100) (15,433,127) 12699,980 (13,258,100) (14,801,103) (5,438,987) 9,352113 Tad otherfinancirg maces (uses) (28,038,100) (28,008,100) (15,391,6179) 12616,491 (13258,100) (14,831,100) (5,438,987) 9,352113 Islet change in fund fiances Find balances at bejnrnrg of year Red telanesat end dyes See netestoregcerredsµple y5ulnarrt $ (52392,603) $ (32392800) ($713,027) $ 2&679.573 $ 24,603,330 $ 44,075,300 92308,473 $ 48,233,173 123,065,210 1E4,546,472 $ 119,352193 $ 276,854,895 Riverside County Transportation Commission Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual-Fvmjor Special Revenue Funds, Continued Year Ended June 30, 2022 State Transit Assistance 58132 Variaioevith Varian:8%th Final Budget Find Budget Original Final Positive Original Final Positive Budget Bagal Actual (rive) Budget Budget Pahl ( ve) Ftven es Sales taxes $ 19,657,806 $ 19,657,006 $ 26773,517 $ 6,115,717 $ - $ - $ - $ - TraqucxtatimUniform M5ga5mFEe _ _ - Intergovernmental - 167,914,40D 167,914,400 118238,582 (49,675,818) Invesnrnt income (loss) 112,400 112400 (2638,954) (2151,354) - (372119) (372,119) Cther - - - - - 346,800 34$800 Total revs nuns 19,770,200 19,770,200 23,734,563 3,964,363 167,914,400 167,914,400 118,215,23 (49,696137) Egerditit s an -E (dal goverrrrent - - - - E3cycleandped,estrixnfacilities CETPP Camuterassistance CarmAerrail Hylueys _ _ _ 209,874,400 204,996700 118,457,972 86,532,728 Local streets and roads Ranirg and prgrarrrnrg FEgional aterids Transit and specialized traoµ.CA n 29,651,700 29,651,700 20,241,793 9,419,907 - Tdalprgrars 29,661,700 29,861,700 20,241,793. 9,419,907 209,874,400 204,990,700. 118457,972 86532,728 Debtsenke: Rindpd Interest Total debt service Capital outlay Total e,aidtres Excess (deficiency) d revenues over (doter) exile d'Nse; Otherfirencirg sauces (uses) Debt issuance Leese liabilities issued Tr a ofaa in Tr a ofera cut Tad other finarci g sasces (uses) 29,661,700 79,661,700 20,241,793 9,419,907 70$874,460 204,990,709 118,457:972 86,532,728 (9,891,500) (9,891,500) 3,492,770 13,384,270 (41,910,000). (37,076,300) (242709) 36,833,591 - 41,932,000 41,932,000 - (41,932,000) (2204,560) (2463,500) (419,534) 2043,966 - - - - (2,20,500) (2463,500) (419,534) 2013,966 41,932000 41,932000 - (41,932000) Net change in fund bdatoas $ (12096,600) $ (12,355,000) 3,073,236 $ 15,428,236 $ (28,000) $ 4,855,706 (242709) $ (5,098409) Find balances at begrrirg of year 128,582,178 (143,114) Fund telanses at end ciyew $ 131,655,414 $ (3&5,823) See rx to regtiredsuppleataytiiorrt Riverside County Transportation Camission Sctie Ue of Proportionate Share of Net Pension Liability Last Ten Fiscal Years' June 30, 2022 Fiscal Year 2022 2021 2020 2019 2018 2017 2016 20151 Nbasurement Date 2021 2020 2019 2018 2017 2016 2015 2014 Proportion of the net pension liability/(asset) -0.11824% 0.(7)4£2% 0.08706% 0.08656% 0.08794% 0.08829% 0.09176% 0.08559% Proportionate share of the net pension liability/(asset) $ (6,394,605) $ 524,003 $ 8,921,123 $ 8,340,905 $ 8,721,456 $ 7,639,639 $ 6,298,052 $ 5,325,565 Covered payroll (maasuieiei it year) $ 7,470,675 $ 6,327,777 $ 5,870,876 $ 5,653,205 $ 5,536,781 $ 5,287,151 $ 4,792,270 $ 4,316,567 Proportionate share of the net pension liability/(asset) as percentage of oovened payroll -85.60% 8.28% 151.96% 147.54% 157.52% 144.49% 131.42% 12338% Ran fiduciary net position as a percentage of the total pension liability/(asset) 88.29% 75.10% 7526% 75.26% 73.31% 74.06% 78.40% 78.21% See rotes to required supNemcvrtay information 1 Rseel year 2015 xas the first year of inplenentation, therefore, only seven years are shown. Represents most i ,red data mailable. 79 Riverside County Transportation Conirission Schedule of Pension Contributions Last Ten Fiscal Years' June 30, 2022 Fiscal Year 2022 2021 2020 2019 2018 2017 2016 20151 Contractually required contribution (actuarially determined) Contributions in relation to the actuarially detenrired contributions Contribution deficiency (excess; Covered payroll Contributions as a percentage of covered payed Valuation date Actuarial cost rrethoc Amortizations nethoc Remaining amortization perioc Asset valuation rrrtl xx Inflation Projected salary irrreasa Discount rate Re6rarrstage Mortality $ - 2 $ 1,525,557 $ 1,675,734 $ 1,507,484 $ 1,321,564 $ 1,222,802 $ 1,101,641 $ 1,044,018 (1,203,364) (925,486) (10,221,550) 2 (1,443,593) (1,308877) (1,238,891) (1,132,393) (1,125,317) $ (1,203,364) $ 600,071 $ (8,545,816) $ 63,891 $ 12,687 $ (16,089) $ (30,752) $ (81,299) $ 9,301,613 $ 7,470,675 $ 6,327,777 $ 5,870,876 $ 5,653,205 $ 5,536,781 $ 5,287,151 $ 4,792,270 12.94% 12.39% 161.53% 24.59% 23.15% 22.38% 21.42% 23.48% 6/W/2019 6/30/2018 6/30/2017 6/30/2016 630/2015 630/2014 6/30/2013 6/30/2012 Entry age i xxi rr4 oast n ttl "xi Level of percentage of payroll 20 years as of valuation date 15 year snout ed rrerket 2.50% Varies by entry age and service 7.15% (net of administrative expenses) 55 years Society of Actuaries Scale 90% of sole MP 2016 SeerO(estorequired sLpdementaryirdcsAldo ' Fiscal year 2015 was the first year of inpleneriafion, therefore, only seven years are shown. Represents most recent data available. 2 In FY 2019/20 the Ccrrrrission pad off the California Public Employees' Retina r rs6 System net pension liability of $8.1 pillion, resulting in $0 required actuarially determined contritwticn beginning in FY 2021/22. 80 Riverside County Transportation Commission Schedule of Changes in the Net OPEB Liability (Asset) and Related Ratios Last Ten Fiscal Years.' June 30, 2022 Fiscal Year 2022 2021 2020 2019 2018 20171 Meaanerrent date 2021 2020 2019 2018 2017 2016 Total CPEB liability (asset) Service cost $ 421,100 $ 408,900 $ 477,000 $ 463,000 $ 449,000 $ 437,000 Interest 496,000 470,500 462,000 416000 377,00D 338,000 Charges of benefit terns - - 80,000 74,000 - - C ifererxes between expected and actual experience (388,000) - (338,000) - Changes otassurrntions 161,400 (148,300) 137,000 - - Benefit payments (315,700) (282700) (719,000) (192,000) (172,000) (155,000) Net doge in total OPEB liability (asset) 374,800 448,400 589,000 761,000 664,000 520,000 Beginning total (PEBliability (asset) 8,363,400 7,915,000 7,326,000 6,565,000 5,911,000 5,291,000 Erx5rgtotal OPRBliability (asset) $ 8,738,200 $ 8,363,400 $ 7,915,000 $ 7,326,000 $ 6,565,000 $ 5,911,000 Plan fiduciary net position Err payercontribrtios $ 728,300 $ 448,000 $ 778,000 $ 725,000 $ 666,000 $ 634,000 Net irrvesrnartiruaie 1,825,700 452,700 577,000 522000 597,030 86,000 Benefit payments (315,700) (282700) (229,000) (192,000) (172000) (155,000) Pdlrinistrativeexperse (5,700) (5,400) (2,000) (12,000) (3,000) (2000) Net change in plan fiduciary net position 2,232600 612600 1,124,000 1,043,000 1,088,000 563,000 Beginring fiduciary net positior 9,102,600 8,490,000 7,366,000 6,323,000 5,235,000 4,672,000 Ending fidudarynet posihm $ 11,335,200 $ 9,102600 $ 8,490,000 $ 7,366,000 $ 6,323,000 $ 5,235,000 Ending net OPEB liability (asset) $ (2,597,000) $ (739,200) $ (575,000) $ (40,000) $ 242000 $ 676,000 Ran fiduciary net position as a percentage of the total OPEB liability (asset) 129.72% 1138.84% 107.26% 100.55% 96.31% 88.56% Covered payroll (rreld cement year) $ 7,470,675 $ 6,327,777 $ 5,870,876 $ 5,653,205 $ 5,536,781 $ 5,287,151 Net OPEB liability (asset) as a percentage of covered payroll -3476% -11.69% -9.79% -0.71% 4.37% 1279°/ See notes to required supplenu ntary infometicr Fiscal year 2017 was the first year of irrplerrentation, therefore, only five years are shown. Represents most recent data available. 81 I5verside Courtly Transportation Comrission Schedule of CPEB Contributions Last Ten Fiscal Years' June 30, 2022 Fiscal Year 2022 2021 2020 2019 2018 2017 Pduaiellydete inedcaiiibuticn Contributions in relation to the actuarially determined oontribufion Contribution deficiency (excess) Covered payroll Contributions as a percentage of need -employee payroll Valuation date: $ 517,000 $ 412,000 $ 393,000 $ 549,000 $ 533,000 $ 494,000 884,1W 728,300 448,000 778,000 725.000 666,000 $ (367,100) $ (316,300) $ (49,000) $ (229,000) $ (192,000) $ (172,000) $ 9,301,613 $ 7,470,675 $ 6,327,777 $ 5,870,876 $ 5,653,205 $ 5536,781 9.50% 9.75% 7.08% 1a25% 12.82% 1203% Privaially determined conhibution rates are cola latui as of June 30, three years prior to the end of the fiscal year in which contributions are reported. Mbthods and assumptions used to Actuarial oast r r eft cal Amortization method Amortization period Asset valuation method Inflation Healthcare oust trend rates Salary increases Investment rated return RFtIItligt age deternine oonhibution rates: Entry age r urn el - level percentage of payroll Led percentage of payroll Ten years Investment gains and losses spread over five-year rdling period 2.75% NonfvIedcare: 7.0% for 2022, decreasing to an ultirate rate of 4.0% in 2076 and later years Medicare: 6.3% for 2021, degreasing to an ultimate rated 4.0%in 2076 and later years Nbrtality See notes torequired sqoa'errentaryirn1rndtiar 3.00%0 aggregate 5.25% Classic employees: 50- 55 Runic Employees' Pension Reform Act: 52-62 Mortality projected fully generatiorel with Scale NP -2020 Fiscal year 2017 was the first year of irrplem entatlon, therefore, only five yes are shown. • ....,.rL most recent data avalable. 82 RIVERSIDE COUNTY TRANSPORTATION COMMISSION Riverside County Transportation Commission Notes to Required Supplementary Information June 30, 2022 Budgetary Data In February of each year, department heads begin the process of compiling budget data for the upcoming fiscal year. Budget numbers along with supporting documentation are provided to the Chief Financial Officer by March 15. That budget data is compiled and presented to the Executive Director for review and approval and is submitted to the Budget and Implementation Committee at its April meeting. After review by the Budget and Implementation Committee, the proposed budget is scheduled for preliminary review and comment as well as public hearing at the Commission's May meeting. The final budget for the new fiscal year is then adopted by motion of the Board of Commissioners (Board) no later than June 15 of the current year. This appropriated budget covers substantially all Commission expenditures by financial responsibility unit [e.g., General fund and Measure A (for each of the three county areas), Local Transportation Fund, and Transportation Uniform Mitigation Fee special revenue funds] by fund. All appropriated amounts are as originally adopted or as amended by the Commission. Unexpended appropriations lapse at year-end. All budgets are adopted on a basis consistent with generally acrepted accounting principles. As adopted by the Board, expenditure activities of the funds with adopted budgets are controlled at the budgetary unit, which is the financial responsibility level, for each function (i.e., administration, prograrrs, intergovernmental distributions, and capital outlay). These functions provide the legal level of budgetary control (i.e., the level at which expenditures cannot legally exceed the appropriated amount). Management has the discretion to transfer the budgeted amounts within the financial responsibility unit according to function. Supplemental budget appropriations were necessary during the year. Pension Plan Schedule of Proportionate Share of Net Pension Liability — The schedule provides the proportion (percentage) of the collective net pension liability (asset), proportionate share (arrount) of the collective net pension liability (asset), the Commission's covered payroll, proportionate share (amount) of the collective net pension liability (asset) as a percentage of Commission's covered payroll, and the pension plan's fidudary net position as a percentage of the total pension liability (asset). Schedule of Pension Contributions — The schedule provides the Commission's actuarially determined contributions to the pension plan, the Commission's actual contributions, the difference between the actual and actuarially determined contributions, and a ratio of the actual contributions divided by covered payroll. Postemployment Benefits Other Than Pensions Schedule of Changes in the Net OPEB Liability (Asset) and Related Ratios — The schedule provides the schedule of changes in the net OPEB liability (asset), the plan fidudary net position as a percentage of the total OPEB liability (asset), the Commission's covered payroll, and the net OPEB liability (asset) as a percentage of covered payroll. Schedule of OPEB Contributions — The schedule provides the Commission's actuarially determined contributions to the OPEB plan, the Commission's actual contributions, the difference between the actual and actuarially determined contributions, and a ratio of the actual contributions divided by covered payroll. 83 RIVERSIDE COUNTY TRANSPORTATION COMMISSION Other Supplementary Information RIVERSIDE COUNTY TRANSPORTATION COMMISSION Riverside County Transportation Commission Nonmajor Governmental Funds Description Special Revenue Funds Measure A Palo Verde Valley: This fund is used to account for the revenues from sales taxes which are restricted to expenditures for Palo Verde Valley programs and activities. Freeway Service Patrol: This fund is used to record the revenues received from state funds for the purpose of implementing a freeway service patrol for motorists. Service Authority for Freeway Emergencies: This fund is used to record the revenues received from Department of Nbtor Vehicle user registration fees for the purpose of implementing an e ergency call box system for motorists. State of Good Repair: This fund is used to account for revenues from sales taxes on gasoline and vehide fee revenues restricted for transit projects. Coachella Valley Rail: This fund is used to account for revenues from state funds for the planning and development of the new Coachella Valley/San Gorgonio Pass corridor rail service. Other Agency Projects: This fund is used to account for revenues from the Riverside County Regional Park and Open Space District for the interagency cooperative planning and development of projects in the County. Regional Conservation: This fund is used to account for revenues related to management and oversight services provided to the RCA 86 F5verside County Transportation Comission Combining Balance Sheet - Nonmajor Governmental Funds June 30, 2022 Special Revenue Service Arne A Freeway Authority State of Palo Verde Service for Freeway Good Valley Patrol Emergencies Repair Assets Cash and investrnents $ 104,635 $ 6,243,968 $ 5,140,229 $ 10,694,456 Receivables: Accounts 234,422 1,181,177 393,038 725,768 Interest 12184 9,247 21,309 Prepaid expenditures and other assets 1,394 - - Total assets $ 339,057 $ 7,438,723 $ 5,542,514 $ 11,441,533 Liabilities and fund balances Liabilities: Accounts payable $ 323,757 $ 431,619 $ 49,618 $ 133,286 Due to other funds 15,300 62,632 9,925 33,800 Other liabilities - - - Total liabilities 339,057 494,251 59,543 167,086 Fund balances: Nonspendable-prepaid amounts 1,394 Restricted for. Corrrruter rail - - - Motorist assistance 6,943,078 5,482,971 Planing and prograrrrring - - - Transit and spedalized transportation - - 11,274,447 Unassigned: - - Total fund balances 6,944,472 5,482,971 11,274,447 Total liabilities and fund balances $ 339,057 $ 7,438,723 $ 5,542,514 $ 11,441,533 87 Riverside County Transportation Commission Combining Balance Sheet - Nonmajor G,ovemrnental Funds, Continued June 30, 2022 Special Revenue Total Coachella Nommajor Valley Other Regional Goeemmental Rail Agency Projects Conservation Funds Assets Cash and investments $ 2,256,897 $ 648,763 $ 185,090 $ 25,274,038 Receivables: Accounts 292,000 826,460 3,652,865 Interest 3,987 1,069 244 48,040 Prepaid expenditures and other assets - - 1,394 Total assets $ 2,260,884 $ 941,832 $ 1,011,794 $ 28,976,337 Liabilities and fund baba ices Liabilities: Accounts payable $ 51,872 $ 261,265 $ 126,349 $ 1,377,766 Due to other funds 8,668 2,453 389,378 x,156 Other liabilities 666,418 500,000 1,166,418 Total liabilities 60,540 930,136 1,015,727 3,066,340 Fund balances: Nonspendable-prepaid amounts - - 1,394 Restricted for. Oorrrruter rail 2,200,344 - - 2,200,344 Motorist assistance - - 12426,049 Flaming and programming 11,696 - 11,696 Transit and specialized transportation - - 11,274,447 Unassigned: - (3,933) (3,933) Total fund balances 2,200,344 11,696 (3,933) 25,909,997 Total liabilities and fundbalair $ 2,260,884 $ 941,R37 $ 1,011,794 $ 28,976,337 Fdverside County Transportation Commission Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds Year Ended June 30, 2022 Special Revenue Service Measure A Freeway Authority State of Palo Verde Service for Freeway Good Valley Patrol Emergencies Repair Revenues Sales taxes $ 1,340,570 $ - $ $ 4,214,813 Intergovemrrental 2,964,449 2,271,166 17,000 Investment it w re (loss) (17) (98,577) (77,356) (159,532) Other 17,853 - Total revenues 1,340,553 2,883,725 2,193,810 4,072,281 Expenditures Current: Commuter rail Local streets and roads 1,340,570 Motorist assistance 4,045,869 429,101 Ranning and prograrming - Regional conservation - Transit and specialized transportation 2,723,296 Iota expenditures 1,340,570 4,045,869 429,101 2723,296 Exc (deficiency) of revenues over (ur rJer ) expendtures (17) (1,162,144) 1,764,709 1,348,985 Other financing sources (uses): Transfers in - 2,260,000 - Transfers cut (2280,000) (1,438,262) Total other financing sources (uses) 2260,000 (2,280,000) (1,438,262) Net change in fund balances (17) 1,097,856 (515,291) (89,277) Fund lie R.ea at beginning of year 17 5,846,616 5,998,262 11,363,724 Fund bdarLes at end of year $ - $ 6,944,472 $ 5,482,971 $ 11,274,447 Riverside County Transportation Cormission Combining Statement of Revenues, Expenditures, and Chanyes in Fund Balances Nonnajor Governmental Funds, Continued Year Ended June 30, 2022 Special Revenue Total Coachella Other Nonmajor Valley Agency Regional Governmental Rail Projects Conservation Funds Revenues Sales taxes Intergovernmental Investment inoorre (loss) Other Total revenues (34,491) $ - $ - $ 5,555,383 767,776 3,974,222 9,994,613 (9,826) (4,138) (363,937) - 17,853 (34,491) 757,950 3,970,084 15,183,912 Expenditures Current: Commuter rail 813,548 - 813,548 Local streets and roads - - 1,340,570 Motorist assistance - - 4,474,970 Planning and programing 768,665 - 768,665 Regional conservation - 3,974,222 3,974,222 Transit and specialized transportation - 2,723,296 Total expenditures 813,548 768,665 3,974,222 14,095,271 Exoess (defidency) of revenues over (under) expencitures (848,039) (10,715) (4,138) 1,088,641 Other financing sorts (uses): Transfers in 412,892 - 2,672,892 Transfers art (2,024) - (3,720,286) Total other financing sources (uses) 410,868 - (1,047,394) Net change in fund balances Fund balances at beg nning of year Fund balances at end of year (437,171) 2,637,515 2,200,344 $ 11,696 $ (3,933) $ 25,909,997 (10,715) (4,138) 22,411 205 41,247 25,868,750 Riverside County Transportation Conrrission Schedule of Revenues, F penditures and Changes in Fund Balances Budget and Actual--Nonmajor Special Revenue Funds Year Ended June 30, 2022 Measure A Palo Verde Valley Freeway Service Patrol Variance with Variance with Final Budget Final Budget Original Final Positive Original Final Positive Budget Budget Actual (Negative) Budget Budget Actual (Negative) Revenues Sales taxes $ 920,000 $ 1,094,000 $ 1,340,570 $ 246,570 $ - $ - $ - $ - Intergovemrrental - - - 3,012000 3,012000 2,964,449 (47,551) Investment iiwiie(loss) - (17) (17) 5,600 5,600 (98,577) (104,177) Other - - - 95,000 95,000 17,853 (77,147) Total revenues 920,000 1,094,000 1,340,553 246,553 3,112600 3,112600 2,883,725 (228,875) E qwrditures Current: Cormuter rail - - - - Loral streets arid roads 813,900 1,296,900 1,340,570 (43,670) - - - Nbtorist assistance - - 5,518,500 5,518,530 4,045,869 1,472,631 Ranting aid prcgrarrrrin9 - - Pagiora conservation Transit and specialiced transportation - - TotN expenditures 813,900 1,296,900 1,340,570 (43,670) 5,518,500 5,518,500 4,045,869 1,472,631 Excess (defiderxy) of revenues over (under) exoencitmes 106,100 (202900) (17) 202883 (2,405,900) (2,405,900) (1,162144) 1243,756 Other financing sources (uses) Transfers in Transfers out Total other financing sources (uses) Net change in fund balances Fund balances at begiming of year Fund balances at end of year - - - 2,260,000 2,260,000 2,260,000 - (106,100) (106,100) 106,100 (199,100) (199,100) 199,100 (106,100) (106,100) 106,100 2060,900 2060,900 2,260,000 199,100 $ - $ (309,000) (17) $ 308,983 $ (345,000) $ (345,000) 1,097,856 $ 1,442856 17 5,846,616 $ $ 6,944,472 Riverside County Transportation Corn ission Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actuate-Nomijor 0 e,,ial Revenue Funds, Continued Year Ended June 30, 2022 Revenues Salestaxes Intergovernmental lnvestrrent ii IWrre (loss) Other Total revenues Expenditures Current Cormuter rail toot streets and roads Motorist assistance Planning and prograrrrrirg Regional conservation Transit and specialized transportation Total expenditures Excess (defiderxy) of revenues over (under) expea>ditrres Other finandng sauces (uses) Transfers in Transfers out Total direr financing wares (uses) Not change in fund balances Fund balances a begiming of year Fund balances at end of year Service Authority for Free+ney Emergencies Original Budget Final Budget Variance with Final Budget Positive Actual (Negative) $ - $ 2241,600 4,600 - $ 2,241,600 4,600 2,271,166 (77,356) 29,566 (81,956) 2246,200 2246,200 2193,810 (52,390) 670,900 670,900 429,101 241,799 670,900 670,900 429,101 241,799 1,575,300 1,575,300 1,764,709 189,409 (2708,100) (2708,100) (2708,100) (2708,100) (2280,000) 428,100 (2280,000) 428,100 $ (1,132,800) $ (1,132,800) (515,291) $ 5,998,262 $ 5,482,971 State of Good Repair Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 4,204,400 $ 4,251,300 $ 4,214,813 $ (36,487) 477,000 1,033,500 17,000 (1,016,500) 6,500 6,500 (159,532) (166,032) 230,000 - - - 4,917,900 5,291,300 4,072,281 (1,219,019) 7,296,400 7,297,100 2723,296 4,573,804 7,296,400 7,297,100 2723,296 4,573,804 (2,378,500) (2005,800) 1,348,985 3,354,785 (2452200) (2,452,200) (1,438,262) (2452200) (2452200) (1,438,262) 1,013,938 1,013,938 617,509 $ (4,830,700) $ (4,458,000) (89,277) $ 4,368,723 11,363,724 $ 11,274,447 92 Riverside County Transportation Commission Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual —Nona jor Special Revenue Funds, Continued Year Ended June 30, 2022 Coachella Valley Rail Other Agency Projects Variance with Variance with Final Budget Final Budget Original Final Positive Original Final Positive Budget Budget Actual (Negative) Budget Budget Actual (Negative) Revenues Salestaxes $ - $ - $ $ - $ - $ - $ - $ - Intercpvernnental - - - 2,374,400 2,374,400 767,776 (1,606,624) Investrrentiitiure(loss) 1,300 1,300 (34,491) (35,791) - (9,826) (9,826) Other - - - - - - - Total revenues 1,300 1,300 (34,491) (35,791) 2,374,403 2,374,400 757,950 (1,616,450) Expenditures Current Commuter rail 1,337,600 1,586,600 813,548 773,052 Local streets and roads - - Motorist assistance - - - Planning and programming 2374,400 2374,400 768,665 1,605,735 Regional conservation - - Transit and specialized transportation - - Total ag3enditures 1,307,600 1,586,600 813,548 773,052 2,374,400 2,374,400 768,685 1,605,735 Excess (defidency) of revenues over (under) eye -cities (1,308,300) (1,585,300) (848,039) 737,261 (10,715) (10,715) other finandng sauces (uses) Transfers in 189,300 448,300 412,892 (35,408) Transfers out (130,600) (130,600) (2,024) 128,576 Total other financing sources (uses) 58,700 317,700 410,868 93,168 NA change in fund balances Fund balances at begiming of yea - Fund balances at end of year $ (1,247,600) $ (1,267,600) (437,171) $ 830,429 $ - $ (10,715) $ 2,637,515 22,411 $ 2,200,344 $ 11,658 (10,715) 93 Rverside County Transportation Cormission Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual --Nunn jor Spedal Revenue Funds, Continued Year Ended June 30, 2022 Regional Conservation Revenues Salestaxes Intergovernmental Investrrent ii IWrre (loss) Other Total revenues Expenditures Current C.ormuter rail toot streets and roads Motorist assistance Original Final Budget Budget Actual Variance with Final Budget Positive (Negative) 5,527,400 5,527,400 3,974,222 (1,553,178) (4,138) (4,138) 5,527,400 5,527,400 3,970,084 (1,557,316) Planning and pmgrarrrrirg - Regional conservation 4,113,500 4,113,500 3,974,222 139,278 Transit and specialized transportation Total exKrenditures 4,113,500 4,113,500 3,974,222 139,278 Excess (defiderxy) of revenues over (under) expenditures 1,413,900 1,413,900 (4,138) (1,418,038) Other finandng sauces (uses) Transfers in Transfers out Total direr financing waxes (uses) Not change in fund balances Fund balances at begiming of yea Fund balances at end of year (1,413,900) (1,413,900) 1,413,900 (1,413,900) (1,413,900) 1,413,900 $ - $ - (4,138) $ 205 $ (3,933) (4,138) Riverside County Transportation Commission Schedule of Revenues, Fxpenddtures and Changes in Fund Balances Budget and Actual Capital Projects Funds Year Ended June 30, 2022 Capital Projects Funds Camrercial Paper Bonds Variance with Variance vith Frel Budget Final Budget Ceginal Final Positive Qiginal Final Positive Budget Budget Actual (wive) Budget Budget Actual (eve) Revenues Intergoverrrrental Investment ent inoorre (loss) Other Teta revenues $ -$ -$ -$ - $ -$ -$ -$ - 19,030 19,000 1,028,470 1,009,470 41,300 41,303 13,447 (27,853) 19,000 19,000 1,028,470 1,009,470 41,300 41,300 13,447 (27,853) F uertditures service: Prindpal - - - - - !Memel - - - - Tdal a penittures - - - - Excess (defiaency) cf revenes over (under) e> saes 19,000 19,000 1,028,470 1,009,470 41,300 41,300 13,447 (27,853) Otherfinandrg wires (uses) Tier oferb in - - - - 272,727 272727 Traofes out - - (2,038,e94) (2,698,694) (16,x,300) (16,685,300) (13,466,075) 3,219,225 Total other financing souses (uses) (2,630,484) (2,608,694) (16,685,300) (16,685,300) (13,193,348) 3,491,952 Net orange in fund maces $ 19,000 $ 19,000 (1,563,224) $ (1,599,714) $ (16,644,000) $ (16,644,000) (13,179,901) $ 3,464,0999 Fund balares at beginning of yea 16,623,510 36,755,608 Fund balances at end of yea $ 15043,286 $ 25,576,707 Ftverside County Transportation Commission Schedule of Revenues, Expenditures and Charges in Fred Balances Budget and Pdual—Debt Service Fund Year Filed June 30, 2022 Debt Service Fund Variance with Final Budget Original Aral Positive Budget Budget Actual (Negative) Revenues Intergovernmental $ 2,809,103 $ 2809,i00 $ 2812,132 $ 3,032 Investmentn lRb(loss) 11,70D 11,703 (62751) (74,451) Otter - - 118 118 Tote) revenues 2820,800 2820,&10 2749.499 (71,301) Expenditu es l7slk service: Principal 29,995,000 29,995,000 29,995,OOD Interest 39,599,300 39,599,300 39,599,288 Total scendtures 69,594,300 69,594$W 69,594,288 12 Fxn3SS (deficiency) of revenues over (under) egencitures (68,773,500) (66773,500) (86,844,703) (71,289) 12 Ct erfirandd g sautes (uses) Tier offs in 69,594,300 03,594,300 03,591,038 (3,262) Traokas out (28]9,100) (2&19,100) (3,208,945) (399,845) Tdal oar financing sauces (uses) 68,785,200 68,785,200 68,382,093 (403,107) Nat change in furel Dances Fund fiances at beginning of yea- Fund balances at end of year 11,700 $ 11,70D (462696) $ (474,396) 11,529,992 $ 11,067,296 Riverside County Transportation Commission Schedule of Expenditures for Local Streets and Roads by Geographic Area - All Special Revenue Funds Year Ended June 30, 2022 VVestem County: Qty of Banning $ 939,198 Qty of Beaumont 1,657,131 Qty of Calin esa 300,718 Qty of Canyon Lake 286,884 Oty of Corona 6,274,539 Qty of Fastvale 2,188,250 Oty of Hemet 2,773,454 Oty of Jurupa Valley 3,897,841 Oty of Lake Elsinore 2,175,035 Oty of Ivlenifee 2,899,174 Oty of Moreno Valley 6,257,359 Oty of Murrieta 3,818,410 Qty of Norco 1,019,731 Oty of Penis 3,288,621 Oty of Riverside 11,240,015 Qty of San Jacinto 1,435,546 Oty of Teri r la 4,515,210 Qty of Wldomar 1,017,090 Riverside County 8,579,600 Other 169,400 64,733,206 Coachella Valley: Oty of Cathedral Qty 2,074,478 Qty of Coachella 825,442 Oty of Desert I -lot Springs 679,935 Qty of Indian VVeIIs 278,348 Oty of Indio 2,672,415 Oty of La Quinta 2,031,006 Oty of Palm Do:,crt 3,483,227 Qty of Palm Springs 3,184,660 Oty of Rancho Mirage 1,209,568 Riverside County 2,501,355 Other 169,400 19,109,834 Palo Verde Valley: Qty of Blythe 1,029,850 Riverside County 267,020 Other 43,700 1,340,570 Total local streets and roads expenditures $ 85,183,610 97 Riverside County Transportation Corrrrission Schedule of Expencitures for Transit and Specialized Transportation by Geographic Area and Some - All Special Revenue Funds Year Ended June 30, 2022 Sales Taxes Local State State Transportation Transit of Good Measure Fund Assistance Repair Total Western County: Boys and Gras Club of Menifee Valley $ 92,948 $ $ - $ $ 92,948 Boys and Girls Club of Southmst County 109,122 - 109,122 Care -/-Van 108,187 - 108,187 Care Connexxus 183,694 - 183,694 OtyofBanning - 1,767,714 - (4,122) 1,763,592 City of Baurirart 124,000 2,411,849 161,226 51,999 2,749,074 OtyofCorona - 746,710 1,629 28,510 776,849 City of Norco 62,862 - 62,862 OtyofRiverside - 4,239,596 - 4,239,596 Carrmunity Connect (4,889) - (4,889) Exceed 85,384 - 85,384 Friends of Moreno Valley Center, Inc 94,477 - 94,477 Forest Folk 54,784 - 54,784 Independent Living Partnership 430,446 - 430,446 Mdielle's Place 8,695 - 8,695 Operation Safehouse 37,082 - 37,0 Riverside University Health Systems 843,947 - 843,947 l versideTransitAgency 4,000,000 16,086,240 2,541,575 22,627,815 United States Veterans Initiative 48,657 - 48,657 Voices for Children 86,062 - 86,062 Other 445,063 211,600 121,705 101,600 879,968 6,810,521 9,377,469 16,370,8C0 2,719,562 35, 278,352 Coachella Valley: SunUneTransit Agency 7,000,000 8,814,552 3,819,663 3,734 19,637,949 Riverside County Transportation Commission - 29,164,619 - 29,164,619 Other 152,400 - 152,400 Palo Verde Valley: Palo Verde Valley Transit Agency 7,152,400 37,979,171 3,819,663 3,734 48,954,968 816,954 51,330 868,284 816,954 51,330 868,284 Total transit and specialized transportation expenditures $ 13,962,921 $ 48,173,594 $ 20,241, fW $ 2,723,296 $ 85,101,604 98 Riverside County Transportation Conrrission Schedule of Uses of Debt Proceeds and Fund Balances Year Ended June 30, 2022 Capital Projects Commercial Paper Sales Tax Revenue Notes Bonds 1-15 Express Lanes, advance ageen nts, and other 1-15 Express Lanes, 91 Project, advance agreements, and other Total Revenues Invest-rentit re $ 1,028,470 $ 13,447 $ 1,041,917 Total revenues 1,028,470 13,447 1,041,917 Other financing sources (uses) Transfers in Pccunulated interest payable related to advance to establish TIF1A debt service reserve 272,727 272,727 Transfers out Debt service offset (2,608,694) (407,945) (3,016,639) 1-15 Express Lanes rap up resee - (1,062,724) (1,062,724) Requisitions to reirrbu se Corrrission funds Salaries and benefits - (163,864) (163,864) Professional services (334,902) (334,902) SuppatsenAoes - (669,831) (669,831) Program operations (147,653) (147,653) Construction - (2386,746) (2386,746) Right of way (778) (778) Design -build (7,342,818) (7,342,818) B ilding irrproverrents - (913,434) (913,434) Total other finandrgsouroes(uses) (2,608,694) (13,193,348) (15,802,042) Net change infund balance (1,580,224) (13,179,901) (14,760,125) Fund balarxes at beginning of year 16,623,510 38,756,608 55,380,118 Fund Minxes at end of year $ 15,043,286 $ 25,576,707 $ 40,619,993 99 Statistical Section BLANK- BACK OF STATISTICAL DIVIDER Riverside County Transportation Commission Statistical Section Overview This part of the Riverside County Transportation Commission's annual comprehensive financial report presents detailed information as a context for understanding what the information in the financial statements, note disclosures, and required supplementary information says about the Commission's overall financial health. Financial Trends: Thcsc schedules contain trend information to help the reader understand how the govemrrent's financial performance and well-being have changed over time. The schedules indude: Net Position By Component Changes in Net Position Fund Balances of Governmental Funds Changes in Fund Balances of Govemrrental Funds Revenue Capacity: These schedules contain information to help the reader assess the govemrrent's most significant local revenue source, the Measure A sales tax. These schedules indude: Sources of County of Riverside Taxable Sales by Business Type Dired and Overlapping Sales Tax Rates Principal Taxable Sales Generation by Qty Measure A Sales Tax Revenues by Program and Geographic Area Measure A Sales Tax by Economic Category Debt Capacity: These schedules present information to help the reader assess the affordability of the government's current levels of outstanding debt and the govemment's ability to issue additional debt in the future. Thcsc schedules indude: Pledged Revenue Coverage Ratios of Outstanding Debt by Type Computation of Legal Debt Margin Demographic and Economic Information: These schedules offer demographic and econorric indicators to help the reader understand the environment within which the government's finandal activities take place. Those schedules include: Demographic and Economic Statistics for the County of Riverside Employment Statistics by Industry for the County of Riverside Operating Information: These schedules contain service and infrastructure data to help the reader understand how the information in the government's financial report relates to the services the government provides and the activities it performs. These schedules include: Full-time Equivalent Employees by Fundion/Program Operating Indicators Capital Asset Statistics by Program 100 Riverside County Transportation Conirission Primary Government Net Position by Component Last Ten Fiscal Years (Accrual Basis) Fiscal Year 2022 2021 2020 2019 2018 Governmental activities: Net Investment in capital assets $ 415,495,777 $ 353,189,808 $ 552,756,477 $ 706,935,587 $ 529,178,100 Restricted 1,115,074,082 977,192,934 816,331,290 794,875,222 801,401,752 Unrestricted (deficit) (540,884,718) (593,657,822) (652,278,554) (887,668,580) (857,485,575) Total governmental activities net position $ 989,685,141 ' $ 736,724,920 $ 716,809,213 6 $ 614,142,229 $ 473,094,277 Business -type activities: Net Investment (deficit) in capital moot $ (171,650,350) $ (109,184,608) 6 $ (320,213,988) $ (299,852,425) $ (286,349,191) Restricted 130,780,244 54,919,608 43,981,932 25,256,125 8,581,857 4 Unrestricted (deficit) - - - _ 4 Total bush -type activities net position (deficit) $ (40,870,106)' $ (54,265,000) 5,6 $ (276,232,056) $ (274,596,300) $ (277,767,334) Source: Finance Depart[ i rx It Net investment in capital assets incra'Gcd in 2014 primarily as a result of oanstruction related to the Penis Valley Line project. 2 In FY 2015, the Commission implemented GASB Statement No. 68, Am,ib'ng and Rnanaal Reporting for Fbnacns, and GASB Statement No. 71, Pension Transition for Contributions Made Subsequent to the A, aaaurement Late - An Arnetxtn> nt of GASB Statement Ab. 68 Rior year amounts in this presentation have not been revised to reflect this change. 3 In FY 2017, the Corrrrission !eddied substantial Completion on the 91 Project and in March 2017 the ROTC 91 Express Lanes opened to motorists. " In FY 2018, the Commission changed its presentation of net position related to intangible assets. 5 In FY2021, the Commission [earl led substantial completion on the I-15 Express Lanes project and in April 2021 the 15 Express Lanes opened to motorists. 6 Calculation of Net Investment in Capital Assets aid Unrestricted (Deficit) was restated based on FY2021 calculation; prior year amounts in this presentation have not been revised to reflect this change. In FY 2022, the Commission implemented GASB Statement No. 87, t ass. Prior year amounts in this presentation have rot been revised to reflect this change. Business -type Activities Net Position by Component $200,000,000 $150,000,000 $100,000,000 $50,000,000 $(50,000,000) $(100,000,000) $(150,000,000) $(200,000,000) $(250,000,000) $(300,000,000) $(350,000,000) 11 •Net Investment (deficit) in capital assets D Restricted 101 • Unrestricted (deficit) ▪ Restricted ■ Net Investment in capital assets Riverside County Transportation Commission Primary Govemment Net Position by Component, Continued Last Ten Fiscal Years (Accrual Basis) Fiscal Year 2017 2016 2015 2014 2013 Governmental activities: Net Investment in capital assets $ 377,309,766 $ 389,646,370 $ 509,106,481 $ 381,796,683 Restricted 596,214,012 615,457,192 578,207,942 642,385,244 Unrestricted (deficit) (538,356,445) (668,395,594) (513,769,876) (470,327,554) Total governmental activities net position $ 435,167,333 $ 336,707,968 $ 463,544,547 2 $ 553,854,373 Business -type activities: Net Investment (defdt) in capital assets $ (301,737,495) Restricted 24Z134,144 Unrestricted (deficit) (234,075,489) Total bush iess-type activities net position (defat) $ (293,678,840) 3 Governmental Activities Net Position by Component $2,000,000,000 $1,500,000,000 $1,000,000,000 $500,000,000 $(500,000,000) $(1,000,000,000) $(1,500,000,000) 336,834,025 619,089,707 (216,162,697) 739,761,035 1 Wverside Canty Transportation Connission Charges in Binary Govemment Net Position Last Ten Fiscal Years (Accrual Basis) Fiscal Year Ended June 30 2021 2020 2019 2018 Bcpenses Governmental activities: Wneral90 $ (2666799) $ 1,127,083 $ (1,488,917) $ 1,295,384 $ 3,654,628 Bcyde and pedestrian projects 1,587519 3,386,814 1,367,800 2,319,895 1,142,306 CETAP 5,181,055 5,723,555 1,441,976 1,396238 22,285,913 Carrri,a assistance 3,229,524 3,110,681 3,673,416 3,61285 3,668,307 Camila' rail 34,291,250 37,367,041 50,573511 48,553,45 36,578320 Rghneys 159,525,490 122,407,790 134515,656 91,086,621 79,234,802 Local streets and roads 85,183,610 74,0,952 5,474,65 61,470,E 53,639,698 Motorist assistance 4,322,295 4,496,883 4,618,036 4,403;671 3,835,612 Rannirg and pragarrrirg 4,774,012 3,730,032 7,798,197 4,34065 4,758,50(3 Regional arterials 24,256688 30,965,584 11,918,666 17,046413 12897;57 Regional conservation 1,492799 1,832340 - - - Trarsit and specialized transportation 85,415,249 50,535,684 99,413296 117,766,548 93,185,227 Interest e>gterse 30,512934 35,083,824 34,633,146 33,663,673 46,421,211 Total gore Tersntal activities expenses 435,905,896 373871,393 408,45,443 385,95,778 356372884 Business -type activities RCTC91Eg7ressLanes 5,463,323 56,311,332 5,962,158 55,05,168 49,452,297 15 Express Lanes 27,233,103 5,540,819 - - Tcdpnnaygovernment expenses $ 533,602,322 $ 435,723,544 $ 468,401,601 $ 441,998,946 $ 407,754,981 Program Reveries Governmental activities: Chagas far services CETAP $ 5,313 $ - $ $ - $ - COnT>Ltaas9stance Cc alder rail 250,600 249,825 251,064 155,587 254,627 Rghneys 137,555 81,533 95,002 132681 51,629 Motorist assistance 35,95 4,149 Barring and prayamning Other 8 133 326 479 Operating gaits and contributions 179,656,964 154,817,75 125,725,762 93,084,55 45,363,624 Capital gents andcatriblias 71,849,461 71,536,414 44,793,683 74,558,45 66,910,285 Total governmental a ivities prograrn revenues 251,59,293 226,685,55 170,55,654 167,967,818 112586,793 Business -type activities: Chsrgasfar senioes ROTC 91 E>g>res Lanes 65,119,434 46,302018 56440,35 58,423,461 50,446,624 15 Egress Lanes 37,25,442 5,544,148 Operating giants and oontribltions - Tctel business-41maivities progarnrevenues 102378576 51,846,166 5,440,35 53,423461 50,446,824 Total pitmen/goRmment revenues 354,278,15 278,531,675 227,306,033 226,391,279 163,031,617 Net Revenues (Expenses) Govemrrental activities (165,0:06,603) (147,185,884) (237,573,779) (218,51,95) (245,717,51) Business -type activities 5,652450 (10,005,985) (3521,75) 3,384,293 994,527 Totapimay government net expense $ (179,324,153) $ (157,191,85) $ (241,55,568) $ (215,607,667) $ (244,723,364) General Revenues and Other Changes in Net Position Governmental activities: tvtescreA sales taxes $ 283,170,562 $ 242943,840 $ 195,036,321 $ 201,204,995 $ 176301,656 Transportation Develcgrend Ad sales taxes 180,682,280 146615,629 139,080,154 131,021,210 110,876557 Unrestricted investment earnings (loss) (14,295,090) 2326345 14,537,908. 21,130,957 6916,321 Other nisosilae us rsenue 2574,199 5,765,473 574,705 3,261,873 2497,942 Lease finadrg - Gain on sale of capital assets 443,461 Tras(ns (11,165,147) (23354656) 2,010,675 2977,56 (14,949,641) Trial governmental activities 437,956,824 167,10251 340239,763 35,039,912 283,644,835 Business -type activities: Unrestricted investment earnings (loss) (3,452703) 324,156 3,56708 2764,137 (32662) Cther nisodlanec s revenue Win an sale of capital asrcis 1,160,15 Traafas 11,165,147 230,548,56 (2010,675) (2977,56) 14,949,641 Total business -type activities 7,712,444 231,973,041 1,886033 (213,259) 14,916,979 Tod piney government $ 445,679,268 $ 399,075,632 $ 342,125,796 $ 35,826,653 $ 296551,814 Changes in Net Position Governmental activities Business -type activities Total primary government Source: France Departmart 25295,221 $ 19,916,707 $ 102,665,984 $ 141,047,952 $ 37,925,944 1354,894 221,967,0$ (1,635,756) 3,171,034 15911,566 X6355,115 $ 241,883763 $ 101,036228 $ 144216966 $ 53838,45 In FY2022 the°orrrrission inplerrented GASBSteterrent No. 87l s. Ria yeararrairts in this presentation have not been revised to reflect this large. In FY 2721 the Carrrission reacted substantial completion on the 15 Ex secs Lams project and in April 3721 the 15 Express Lanes opened to motorists. Adritiondly, the Carrrissicn baarre the rrenajrg egex y for the Vthstern Rverside Canty Regional Conservation Authority. 103 17verside County Transportation Cortnission Charges in Primary Government Net Position, Continued Last Ten Fiscal Years (Accrual Basis) Fiscal Year Ended June 30 2017 2016 2015 2014 2013 Ecpenses Governmental activities: Cameral gvaerrrrent $ 7,256,051 $ 6,614285 $ 7,48,725 $ 6,994,832 $ 6959,827 Bcyde and pedestrian projects 1,314,932 212,547 1,747,090 1,05,5,476 95%308 C 7AP 2489,440 1,871,426 4,130,374 2195,074 954,700 Carrrrrlter assistance 265%782 2,615,610 2,914,990 3,171,842 2904,048 Corrrruter rail 38,964,217 41,449,269 20,455178 17,255,402 23,531,252 FighAeys 264,283,974 245,666,543 718,857,938 339,194,681 59,604,916 Local streets and roads 51,664,011 49,826,564 48,615,706 46,677,580 44,594,891 Motorist assistance 4,164,892 4,149,320 4,314,601 3,498,420 3,563,581 Planning andpr0garrrrirg 3,141,759 3,%5,071 3,064,115 3,216,441 3,725703 Regional arterials 19,040,012 23,095,562 21,010,990 23,886,840 17,047,135 Regional mreervatin - - - - Transt and spedalized transportation 80,724,511 70,611,967 86,712958 78,722898 55,659,188 Interest expense 49214,579 53,558.472 50,037,270 52939,78 15,364,677 Total governmental activities elgrerses 525,119,240 503,638,636 479,263,927 578,820,248 234,86%22 Business -type activities: ROTC 91 Express Lanes 13269,254 - - - - 15 Egress Lanes - Total prinEry government expenses $ 53%379,494 $ 50(3,638,636 $ 475263,927 $ 578,820,248 $ 234,886,226 Program Revenues Gave manta) activities: Charges far seiwoes CETAP $ - $ - $ - $ - $ Carrrruder assistance 1,500 Co rrn.er rail 250,416 255,847 786,869 297,911 107,194 Fighaays 90,655 412535 796,385 Motorist assistance 635373 1,076,751 21,307 15,026 13,915 Ohs( 447 421 450 999 14,873 Operating grants and oxNibudi0rs 35,611,287 42568,860 57,784,238 61,767,456 46,567,900 Capital grads and con ributiars 16,451,903 54,062314 70,133,121 71,744,926 4,697,301 Total worn/anti activities program revenues 52949,426 97,964,193 12581%640 134,23%853 52399,068 Business -type activities: Charges far services RCTC 91 Express Lanes 10,123,572 - - - - 15 Erloress Laes - - Cperaling grants and contributions 1,723 - - - - Cmital grants and contributions - - - - Total business -type activities program reveries 10,1255,295 Total Orrery goverrrnad revenues 63,074,721 97,964,193 12,816,640 134,23%8,53 52393,068 Net Revenues (Bapenses) Gove-mr atal activities (472,169,814) (405,674,443) (350,447,287) (444,581,395) (182467,158) &5iress-typeativities (3134,959) - - Total prirrerygoverment rtet ease $ (476304,773) $ (405,674,443) $ (350447,27) $ (444,581,395) $ (162467,159) Gerard Revenues and Cther Changes in Net Position Governmental aiivities: M1easire ASales taxes $ 175,328207 $ 167,630,239 $ 163,092776 $ 156,355,894 $ 149,42,124 Transportation Development Ad sales taxes 94,639,514 97,134,594 94,816,814 91,953554 66,999,018 Urn estiided investment earnings 4,22323 8,383,732 6,063,400 9,794,652 1,664,759 Ctha rrisodlaeaus revenue 58%,819 4,950,964 1,643,078 55%049 604,181 Lease financing - G3in on sale of capital assets 73%335 - 14,574 - Tiaoftaa 290,547,316 Total govemmental activities 570,629,179 278,837,864 25,612168 2%674,733 23%63%112 Bsinesstype activities: Unrestricted investrrad earnings 3,435 - C then rrisoellaeas revenue - - - - Geinonsaleofcapitalassets - - - Transfers (290,547,316) - - - - Total business -type activities (290,543,681) Total Orrerygovznment $ 2120,085,299 $ 278,837,864 $ 25,612168 $ 2%674,733 $ 238,69%112 Charges in Net Position Governmental activities $ 9%459,365 $ (12,836,579) $ (84,834,219) $ (185906,662) $ 56,22,954 Business -type activities (293,678,840) - Tdal prinlay government $ (195,219,475) $ (12,83%579) $ (84,834,219) $ (185,906,652) $ 56,22,954 Source: Finance Department 3 �11�7 In FY2017 the Comris ran leaded siatan3 l o�rrpletion on the 91 Project and in March%1,1the RCrC91 Express Lames opened to motorists. Arki8omlly, the Comdssion early inplenerfed GASB Staterrent Na. 75, Acmertirgand RraderF 8n39xR5-Errployma'0 Benefits Cther Ilan FEnsion. and G.S13Staterrent No. 85, Qrrvpus 217. 104 Riverside County Transportation Commission Changes in Primary Govemment Net Position (Continued) Last Ten Fiscal Years (Accrual Basis) Expenses by Function $598,500,000 — $498,500,000 $398,500,000 $298,500,000 $198,500,000 r $98,500,000 $(1,500,000) 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 o General gavemrrent • Bicycle and pedestrian facilities 0 CETAP o C mmter assistance ■ Cor m ter rail O Hgh ays • Loral streets and roads o Motorist assistance • Planning and programring O Regional arterials • Regional conservation G Transit and specialized transportation GTdI operations • Interest egerse 105 Riverside County Transportation Commission Changes in Primary Govemment Net Position (Continued) Last Ten Fiscal Years (Accrual Basis) Revenues by Source $882,000,000 $782,000,000 $682,000,000 $582,000,000 $482,000,000 $382,000,000 $282,000,000 $182,000,000 $82,000,000 $(18,000,000) 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 o Charges for services ■ Operating grants and contributions D Capital grants and contributions O Measure Asales taxes ■ Transportation Development Pct sales taxes ■ LA rca r icted investment eamirgs (loss) El Otter rriscdlareous revenue ire' Leasefnandrg ■ Gain on sale of capital assets, net 106 Riverside County Transportation Corrrrission Fund Balances of Governmental Funds Last Ten Fiscal Years (Modified Accrual Basis) Fiscal Year 2022 2021 2020 2019 2018 GENERAL FUND General fund: Nonspendable $ 479,416 $ 164,621 $ 136,038 $ 345,881 $ 717,793 Restricted 32,259,329 34,147,160 22,458,450 25,551,922 22,470,358 Assigned 3,049,765 3,606,250 3,267,803 3,226,466 3,337,343 Total general fund $ 35,788,510 $ 37,918,031 $ 25,862,291 $ 29,124,269 $ 26,040,494 ALL OTHER GO'VERNMENfAL FUNDS Al other govemrrental funds: Nonspendable $ 3,168,147 $ 3,393,790 $ 3,033,953 $ 3,675,091 $ 4,627,240 Restricted 1,066,079,305 927,0,993 781,460,503 758,687,069 745,638,560 Unassigned (389,756) (143,114) (30,566) (1,272,356) (268,754) Total all other govern! rt,italfunds $ 1,068,857,696 $ 930,873,669 $ 784,463,890 $ 761,089,804 $ 749,997,046 Source: Finance Depart rre t 107 Riverside County Transportation Conrrission Fund Balances of Governmental Funds, Continued Last Ten Fiscal Years (Nbdified Accrual Basis) Fiscal Year 2017 2016 2015 2014 2013 GB'ERAL FUND Gerard fund: l`brspendable $ 219,759 $ 192,235 $ 255,446 $ 257,721 $ 194,794 Restricted 16,321,159 7,143,844 5,680,411 5,073,685 7,412686 Assigned 2,572182 3,456,111 4246,940 5,258,703 577,871 Total general fund $ 19,126,100 $ 10,/82,190 $ 10,182,797 $ 10,590,109 $ 12,840,351 ALL OTHER GOVERNMENTAL FUNDS Al other govemrrental funds: Nonspendable $ 9,162,068 $ 10,848,614 $ 21,510,571 $ 31,978,235 $ 3,274,483 Restrided 678,147,954 718,780,598 772,109,076 988,908,077 606,072,061 Unassigned (23,054) - - Total all other govemrrental funds $ 687,286,968 $ 729,629,212 $ 793,619,647 $ 1,020,886,312 $ 609,346,544 Source: Finance Departrrent 108 Rverside County Transportation Cormission Changes in Fund Balances of Governmental Funds Last Ten Fiscal Years (Modified Accrual Basis) Fiscal Year 2022 2021 2020 2019 2018 Revenues Sales taxes $ 460,852,862 $ 389,559,469 $ 323,116,475 $ '32226,225 $ 287,180,213 Transportation Uniform Mtigation Fee 35,509,031 28,301,547 23,257,905 29,968,449 23,699,764 Intergovernmental 213,808,004 203,029,590 145,904,252 138,541,133 88,207,011 Irwestnetrtincorne (14,230,774) 2,387,089 14,594,910 21,311,968 9,149,672 Other 3,274,412 5,863,647 2,283,994 6,418,190 3,199,483 Total revenues 699,213,535 629,141,342 509,157,536 528,465,965 411,436,143 Expencitures Current: General Government 341,937 410,552 546,338 1,044,403 977,898 Programs: Bicyde and pedestrian facilities 1,587,819 3,388,814 1,367,800 2,319,895 1,142,306 CETAP 5,279,295 2,016,814 11,104,808 1,394,120 22,275,429 Connuterassistance 3,434,404 3,071,831 3,938,474 3,603,353 3,647,662 Commuter rail 21,219,827 29,379,805 41,069,694 40,805,316 37,700,157 highways 247,656,937 197,817,830 285,955,203 203,662,390 187,087,621 Local streets and roads 85,183,610 74,082,952 59,475,694 61,470,359 53,639,698 Motorist assistance 4,474,970 4,486,182 4,934,056 4,398,842 3,825,722 Planning and prograrniing 5,702,031 3,640,958 8,828,203 4,307,859 4,677,940 Regional arterials 24,379,344 30,972,795 12,059,400 17,042,375 12,888,439 Regional conservation 3,974,712 1,721,498 - Transit and specialized transportation 85,924,817 50,489,119 99,777,205 117,748,091 90,153,923 Debt service: Principal 30,573,211 28,505,099 27,253,683 25,977,461 62,140,974 Interest 39,649,974 41,255,647 42511,371 43,595,769 50,606,912 Cost ofIssuance - - - - 2,256,061 Payment to escrowdyra It - - - - 70,800,000 Capital outlay 5,950,413 4,750,342 3,536,042 5,663,109 2,606,851 Total expenditures 565,332,811 475,990,238 602,357,971 533,033,342 606,427,593 Excess (deficiency) of revenues over (under) expenditures 133,880,724 153,151,104 (93,200,435) (4,567,377) (194,991,450) Other financing sources (uses): Refunding debt issuance - - 457,015,000 Debt issuance - 15,660,996 111,301,868 14,946,136 158,760,000 D srxx mt on debt issuance - - - - - Prerriumondebt issuance - - 119,713,807 Payment to refunded bond escrow ayrxrt - - - 55,000 (471,089,840) Transfers in 115,432,568 116,427,274 119,642,321 116,363,248 300,623,670 Transfers out (113,458,786) (126,773,855) (117,631,646) (112620,474) (300,406,715) Total other finandng sources (uses) 1,973,782 5,314,415 113,312,543 18,743,910 264,615,922 Net charge in fund balances $ 135,854,506 $ 158,465,519 $ 20,112,108 $ 14,176,533 $ 69,624,472 Debt service as a percentage of noncapital expenditures 14.8% 17.7% 15.8% 16.7% 23.7%2 Source: Finance Department ' Debt service as a percentage of noncapital expenditures in 2014 inaaocd significantly as a result of the retirement of $60,000,000 of corrrrerdal paper, Midi is induded in principal payments and interest payments and cost of issuance as a result of the issuance of $638,854,602 in debt. 2 Debt service as a percentage of noncapital expenditures in 2018 inamscd significantly as a result of the retirerrent of corrrrexdal paper and a current refunding of debt, vvhich induded a swap temination payment. 109 Ffiverside County Transportation Conrrission Changes in Fund Balances of Governmental Funds, Continued Last Ten Fiscal Yeas (Mocified Accrual Basis) Fiscal Year 2017 2016 2015 2014 2013 Revenues Sales taxes $ 269,959,721 $ 264,764,833 $ 257,909,590 $ 248,309,448 $ 236,427,142 Transportation Uniform Mitigation Fee 19,594,829 19,831,327 17,400,782 11,284,394 12,421,110 Intergovernmental 32,467,616 76,821,362 110,515,661 122,486,605 38,817,347 Investment irtiure 4,483,174 8,592,753 6,258,226 9,979,912 1,769,709 Other 6,746,055 7,295,648 2,542,359 1,282,520 1,540,542 Total revenues 333,251,395 377,305,923 394,626,618 393,342,879 290,975,850 Expenditures Current: General Gwen 6,558,752 6,514,255 7,302,325 6,991,303 6,692,187 Programs: Rcydeand pedestrian facilities 1,314,932 233,815 1,747,090 1,065,476 956,308 CETAP 4,028,104 5,249,516 4,135,996 6,509,915 954,700 Corrmrterassistance 2,686,073 2,648,632 2,891,431 3,136,150 2,868,356 Cormuterrail 32,820,139 95,717,909 112424,851 68,072,414 27,118,480 Fighwrays 250,383,800 372,657,029 325,128,109 299,398,122 118,750,336 Local streets and roads 51,864,011 49,826,564 48,615,815 46,677,580 44,594,891 Motoristassistance 4,177,349 4,159,520 4,317,961 3,498,420 3,563,581 Planning and prograrming 3,248,031 4,090,731 3,099,358 3,204,073 3,712,596 Regional arterials 19,056,339 23,111,109 21,016,097 23,886,840 17,047,135 Regional conservation - - Transit and specialized transportation 80,764,125 70,652,804 86, (2b,394 78,723,898 55,659,188 Debt service: Principal 27,317,242 7,814,176 7,411,654 67,112884 6,824,654 Interest 44,684,153 45,620,922 45,913,275 43,410,203 15,404,719 Cost of Issuance 654,007 - - 7,050,855 - Payment to escrow agent 63,900,000 - - - Capital outlay 5,670,356 1,182,208 475,334 143,888 220,443 Total expendtures 599,127,413 689,479,190 671,204,690 658,882,021 304,367,574 Excess (deficiency) of revenues over (under) expenditures (265,876,018) (312173,267) (276,578,072) (265,539,142) (13,391,724) Other financing sources (uses): Refunding debt issuance - - - Debt issuance 249,498,089 248,792,225 48,904,095 638,854,602 60,000,000 Dsoount on debt issuance - - (2433,315) - Prerriumondebtissuanoe 8,414,007 - 38,328,775 Payment to refunded bond escrow agent - - - Transfers in 182,713,859 162,708,720 232,626,156 481,987,735 133,065,312 Transfers out (208,758,271) (162,708,720) (232,626,156) (481,987,735) (133,065,312) Total other financing sources (uses) 231,867,684 248,792,225 48,904,095 674,750,062 60,000,000 Net change in fund balances $ (34,008,334) $ (63,381,042) $ (227,673,977) $ 409,210,920 $ 46,608,276 Debt service as a percentage of noncapital expenditures Source: Finance Department 12.2% 10.6% 11.0% 19.1% r 9.3% 110 Riverside County Transportation Conmssion Sources of County of Riverside Taxable Sales by Business Type Last Ten Calendar Years (In Thousands) 2021 t 2020 2019 2018 2017 Apparel stores $ 2,787,245 $ 1,834,633 $ 2,361,700 $ 2,315,433 $ 2,199,511 General rrerdiandisestores 4,756,624 4,123,079 3,967,112 3,560,755 3,101,256 Food stores 2,121,729 1,953,653 1,822,075 1,790,507 1,666,910 Eating & drinking 4,936,088 3,615,577 4,282,201 4,004,657 3,852,674 Household 1,999,156 2,106,383 2,104,126 1,962,650 1,730,702 Building materials 3,598,/28 3,103,094 2,500,049 2,346,508 2,161,593 Automotive 11,430,453 8,509,066 8,938,497 8,788,907 8,282,532 Other retail sales 9,700,524 5,076,176 3,087,294 3,2/3,276 2,586,770 Total all other outlets 14,204,649 11,991,812 11,563,944 10,876,806 10,550,866 $ 55,535,196 $ 42,313,473 $ 40,626,998 $ 38,919,499 $ 36,132,814 Measure A direct sales tax rate (Ordinance 88-1 through 2009 and 02-001 thereafter) 0.50% 0.50% 0.50% 0.50% 0.50% Source: California Departn er t of Tax and Fee Administration, as successor to California State Board of Equalization 1 Year represents mist recent data available. Sources of County of Riverside Taxable Sales by Business Type for 2021 Total all other outlets._.. 26% Other retail sales _ 17% Apparel stores 5% Automotive 21% General merchandise stores 8% Food stores 4% Eating & drinking 9% Household 4% Building materials 6% 111 Riverside County Transportation Conrrission Sources of County of Riverside Taxable Sales by Business Type, Continued Last Ten Calendar Years (In Thousands) 2016 2015 2014 2013 2013 Apparel stores $ 2,190,228 $ 2136,728 $ 1,989,623 $ 1,771,603 $ 1,771,603 General merdiandise stores 3,052,409 3,040,244 3,289,057 3,298,920 3,298,920 Food stores 1,574,030 1,727,518 1,509,404 1,421,590 1,421,590 Eating &drinking 3,648,980 3,384,494 3,093,861 2,836,388 2,836,388 Household 1,386,985 1,135,235 1,030,455 996,484 996,484 Building materials 1,965,101 1,826,294 1,706,184 1,535,178 1, .1.9,178 Autonrtive 7,751,812 7,693,173 7,844,773 7,421,523 7,421,523 Other retail sales 2,452,591 2,338,039 2,182,987 2,025,088 2,025,088 Total all other outlets 10,209,008 9,629,185 9,389,345 8,758,693 8,758,693 $ 34,231,144 $ 32,910,910 $ 32,035,689 $ 30,065,467 $ 30,065,467 Measure A direct sales tax rate (Ordinance 88-1 through 2009 and 02-001 thereafter) Source: State Board of Equalization 0.50% 0.50% 0.50% 0.50% 0.50% Riverside County Transportation Commission Direct and Overlapping Sales Tax Rates Last Ten Fiscal Years Fiscal Year Measure A Direct Rate County of Riverside 2022 0.50% 7.75% 2021 0.50% 7.75% 2020 0.50% 7.75% 2019 0.50% 7.75% 2018 0.50% 7.75% 2017 0.50% 7.75% 2016 0.50% 8.00% 2015 0.50% 8.00% 2014 0.50% 8.00% 2013 0.50% 8.00% Source: Cormission Finance Department and Califomia Department of Tax and Fee Administration, as successor to Califomia State Board of Equalization. 1 The Measure A sales tax rate may be changed only with the approval of 2/3 of the voters. 2 Effective January 1, 2013, the State of California increased the state sales tax rate by 0.25%. Riverside County Transportation Corrrrission Principal Taxable Sales Generation by City Current Year and Nine Years Ago 2021 1 2012 Taxable Sales (in Percentage of Taxable Sales (in Percentage of thousands) Rank Total thousands) Rank Total City of Riverside $ 7,073,303 2 127°% $ 4,238,975 2 15.1% Qty of Corona 4,151,932 3 7.5% 2,855,833 3 10.2% Qty of Temecula 3,943,889 4 7.1% 2,535,380 4 9.0% City d Eastvale 3,832112 5 6.9% 490,881 16 1.7% City dMvbrenoValley 3,047,751 6 5.5% 1,275,922 6 4.5% City of Ferris 2,202950 7 4.0% 622,840 15 22% City dM meta 2113,469 8 a8% 1,035,828 7 37% City d Palm Desert 2024,581 9 3.6% 1,470,982 5 53% City ofJuupeValley 1,814,595 10 33% 726,309 10 26% QtydPam $xirgs 1,526,784 11 27% 955,731 8 3.4% City dHenet 1,467,550 12 26% 859,861 9 31% City dLake Bsinore 1295,868 13 23% 665,409 13 2.4% City ofIndio 1,293,694 14 23% 724,256 11 26% City dBeaumont 1,229,150 15 21% 334,876 20 12e% City of Cathedra City 1,111,885 16 20% 648,817 14 23% City d La Ctinta 996,048 17 1.8% 710,127 12 25% City ofMerifee 974,142 18 1.8% 449,121 17 1.6% QtyofNorm 844,878 19 1.5% 429,119 18 1.5% Qtyof Rancho Mrage 548,912 20 1.0% 378,753 19 1.3% City d Coachella 405,030 21 0.7% 302053 21 1.1% City of Sal Jacinto 366,451 22 0.7% 202,402 22 0.7% City ofBanning 305,168 23 05% 165,579 24 0.6% Qty of Desert Fbt Springs 254,521 24 0.5°% 128,734 25 0.5% City dWIdo ar 223,007 25 0.4% 122891 26 0.4% City ofBIyI1e 162023 26 0.3% 169,341 23 0.6% City dCalirresa 109,303 27 0.2% 60,894 28 02e% City d Indian VVells 86,759 28 0.2% 87,861 27 0.3% City d Canyon Lake 32,372 29 0.1% 15,611 29 0.1% Irxaxpuated 43439,127 78.2% 22,654,386 80.7°% Unincorporated 12,096,06,9 1 21.8% 5,431,623 1 19.3% Ccuntyw,ide $ 55,535,196 100.0°% $ 28,096,009 1C0.0% Cslifania $ 862,712178 $ 558,387,250 Same: Cdtfania Deparbrerrt of Tax ad FeeAdrrinistration, as successor to Califorria Slate Board d Equalization, for the calendar year indicated. 1 Year represents most recent data available. $8,000,000 T $7,000,000 $6,000,000 - $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 Taxable Sales by City e fwd° o) S o 0�1° o >r1 G� G`� `� pa G O so 230 - 2021 1 - 2012 Riverside County Transportation Corrnission Measure A Sales Tax Revenues by Program and Geogaphic Area Year Ended June 30, 2022 Special Revenue Funds Vlkstem Coachella Palo County Valley Verde Total HghvVeys $ 68,069,969 $ - $ $ 68,069,969 Regional arterials 20,020,579 - - 20,020,579 l igh eys and regional arterials 27,299,763 - 27,299,763 New conidors 24,692,048 - - 24,692,048 Ecrn rric develc Trent incentives 2,669,411 - - 2,669,411 Local streets and roads 64,733,206 19,109,834 1,340,570 85,183,610 Public transit: Corrnuterassistance 3,336,763 - - 3,336,763 Comruter rail 13,613,994 - - 13,613,994 Bus 3,403,498 - - 3,403,498 Specialized transportation 5,672,497 - - 5,672,497 Bus and specialized transportation 8,189,929 - 8,189,929 Bond financing 18,018,521 - 18,018,521 Source: Finance Department $90,000,000 $80,000,000 $70,000,000 $60,000,000 $50,000,000 $40,000,000 $30,000,000 $20,000,000 $10,000,000 s- $ 224,230,486 $ 54,599,526 $ 1,340,570 $ 280,170,582 Sales Tax Revenues by Program and Geographic Area e oac`,ea a`oaa5 5�aaoa Jig �a ea5 �apOSc o oa ac��A a� �o c as ay5 cc eQo eQ c Quo aAoo ae Q�e�� 0``ee�e FJ GoF eac aa�ac 0oca K‘,;?'a� 1e 0 roc* God aG' a\' 4a� ° oQ ayQ ocoa �Jyac Geographic Distribution by Area Coachella Valley 20% Palo Verde 0% Western County 80% • Palo Verde aCoachella Valley • Western County 115 Riverside County Transportation Commission Measure A Sales Tax by Economic Category Last Ten Calendar Years %of Total Economic Category 2021' 2020 2019 2018 2017 2016 2015 2014 2013 2012 General retail 30.9 31.6 28.1 28.9 28.3 28.9 28.8 28.4 28.7 28.8 Transportation 24.0 22.4 24.2 24.6 25.3 25.1 25.9 26.6 27.0 26.9 Food products 15.8 15.2 17.7 17.8 17.6 17.7 17.3 16.6 16.1 16.2 Po iciness to busir rfe,,s 14.8 15.8 16.7 16.3 15.6 15.3 15.0 14.4 14.5 15.0 Construction 10.9 11.5 10.7 10.8 10.8 10.8 10.8 12.0 11.8 11.1 Mscellaneous 3.6 3.5 2.6 1.6 2.4 2.2 2.2 2.0 1.9 2.0 Total 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 Source: ManiServioes LLC., an Avenu Corrpany ' Year represents rrwt recent data available. 116 Riverside County Transportation Commission Measure A Revenues and Pledged Revenue Coverage1 Last Ten Fiscal Years Sales Tax Revenue Bonds Net Measure A Sales Tax Fiscal Year Revenues2 Measure A Sales Tax Total Debt Revenue Growth Total Debt Service (Decline) Rate Service Coverage Ratio 2022 $ 280,170,582 15.32% $ 69,594,288 4.03 2021 242,943,840 24.56% 69,519,038 3.49 2020 195,036,321 -3.07% 3 69,537,488 2.80 2019 201,204,995 14.13% 69,555,738 2.89 2018 176,301,656 0.56% 75,159,543 2.35 2017 175,320,207 4.59% 51,889,982 3.38 2016 167,630,239 2.78% 53,400,019 3.14 2015 163,092,776 4.31% 53,300,072 3.06 2014 156,355,894 4.64% 50,499,417 3.10 2013 149,428,124 10.70% 22,156,116 6.74 Source: Finance Department 1 2 This schedule meets the requirements for Continuing Disdosure of historical Measure A sales tax revenues. Sales tax revenue bonds are backed by the sales tax revenues, net of Califomia Department of Tax and Fee Administration, as successor to Board of Equalization, administrative fees. 3 Sales tax revenues decreased in FY 2020 due to COMD-19 impacts. 117 RIVERSIDE COUNTY TRANSPORTATION COMMISSION Riverside County Transportation Commission Ratios of Outstanding Debt by Type Last Ten Fiscal Years Governmental Activities Year Sales Tax Revenue Bonds, net of premium and Commercial MSI-ICP Funding Lease Capital discount Paper Liability Liabilities2 Leases 11F1ALoan 2022 $ 830,738,739 $ - $ $ 3,398,016 $ - $ 2021 871,561,216 31,722 - 2020 911,246,727 41,821 128,092,018 2019 950,003,406 3,000,000 50,504 15,121,739 2018 987,810,267 6,000,000 - 7,965 2017 792,916,124 30,000,000 9,000,000 28,939 2016 782,532,106 20,000,000 12,000,000 46,181 2015 792,297,152 15,000,000 60,357 2014 801,782,659 18,000,000 - 72,011 2013 310,435,508 60,000,000 6,289 Sources: Finance Depart!' er d for outstanding debt for the fi dl year ended June 30 and Califomia State Department of Finance for population as of January 1. 1 SPp the Schedule of Democgraphic and Economc Statistics on page 123 for personal income and population data. 2 In FY 2022, the Corrrrission irrplemented GPSB Statement No. 87,1 PARP_S. Prior year amounts in this presentation have not been revised to reflect this change. Riverside County Transportation Corrrrission Ratios of Outstanding Debt by Type, Continued Last Ten Fiscal Years Business -Type Activities Year Toll Revenue Bonds, net of discount, Rau and accretion 11FiA Loan Total Primary Government Percentage of Personal Income capita Debt per 1 2022 $ 733,034,464 $ 162,385,853 $ 1,729,557,072 NWA $ 710.14 2021 210,216,120 656,943,710 1,738,752,768 NA 708.41 2020 204,647,796 486,319,336 1,730,367,698 1.52% 708.50 2019 199,423,911 469,870,660 1,637,470,220 1.56% 671.06 2018 194, 522,170 453,980,866 1,642, 321,268 1.65% 689.29 2017 189,923,251 438,628,419 1,460,496,733 1.54% 612.42 2016 185,607,330 2//,696,320 1,277,881,937 1.45% 551.30 2015 181,557,045 48,934,095 1,037, 818,649 1.24% 436.30 2014 177,755,391 997,610,061 1.28% 423.81 2013 - 370,441,797 0.49% 167.47 Sources: Finance Departr r u d for outstanding debt for the fiscal year ended June 30 and California State Departrrent of France for population as of January 1. Riverside County Transportation Coimission Computation of Legal Debt Margin' Last Ten Fiscal Years Fiscal Year 2022 Measure A Ordinance No. 02-001, as amended by Ordinance No. 10-0022 2021 2020 2019 2018 Total debt lint authorized $ 975,000,000 $ 975,000,000 $ 975,000,000 $ 975,000,000 $ 975,000,000 Amount of debt applicable to debt lint 747,320,000 777,315,000 805,810,000 833,055,000 859,020,000 Legal debt margin $ 227,680,000 $ 197,685,000 $ 169,190,000 $ 141,945,000 $ 115,980,000 % of debt to legal debt lint 76.6% 79.7% 82.6% 85.4% 88.1% grime: Finance Departrrerrt 1 The Comrission's debt lirrit was approved by the voters of Riverside County as part of the sales tax ordinance and is specific to the Corrrrission; accordingly, there are no overlapping debt considerations. 2 Ordinance No. 02-001 was approved by a 2/3 nnlority of the voters in Noverrber 2002. In Noverber 2010, a majority of the voters approved Ordinance No. 10-002 to increase the debt lint from $5W pillion to $975 million. Measure A Ordinance No. 02-001, as amended by Ordinance No. 10-002 • Total debt limit authorized • Amount of debt applicable to debt limit $1,200,000,000 $1,000,000,000 $800,000,000 $600,000,000 $400,000,000 $200,000,000 $- 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 121 Riverside County Transportation Corrrrission Computation of Legal Debt Margin, Continued' Last Ten Fiscal Years Fiscal Year 2017 2016 2015 2014 2013 Measure A Ordinance No. 02-001, as amended by Ordinance No.10-0022 Total debt limit authorized Amount of debt applicable to debt lirrit Legal debt nargin %of debt to legal debt lint grime: Finance Department $ 975,000,000 $ 975,000,000 $ 975,000,000 $ 975,000,000 $ 975,000,000 786,240,000 771,300,000 759,100,000 766,500,000 371,400,000 $ 188,760,000 $ 203,700,000 $ 215,900,000 $ 208,500,000 $ 603,600,000 80.6% 79.1% 77.9% 78.6% 38.1% 122 Riverside County Transportation Commission Demographic and Economic Statistics for the County of Riverside Last Ten Calendar Years Per Capita Personal Income Personal Unemployment Calendar Year Population' (thousands)2 Income 2 Rate3 2022 2,435,525 N/A N/A N/A 2021 2,454,453 N/A N/A 7.3% 2020 2,442,304 $ 114,090,413 $ 45,834 10.2% 4 2019 2,'1'10,124 104,794,676 42,418 4.2% 2018 2,415,955 99,591,680 40,637 4.4% 2017 2,382,640 95,140,992 39,261 5.2% 2016 2,347,828 87,827,068 36,782 6.1% 2015 2,317,924 84,025,987 35,589 6.7% 2014 2,329,271 78,239,388 33,590 8.2% 2013 2,255,059 76,289,477 33,278 10.3% Sources: 1 Califomia State Department of Finance as of January 1. 2 U.S. Department of Commerce Bureau of Economic Analysis. Represents most recent data available. 3 Califomia State Employment Development Department. Represents r i ost recent data available. 4 2020 reflects the irrpacts from COVID-19 pandemic 123 Riverside County Transportation Commission Employment Statistics by Industry for the County of Riverside Calendar Year 2021 and Nine Years Prior Industry Type Agricultural services, forestry, fishing and other !Vining Construction Manufacturing Transportation, warehousing, and public utilities 1Mndcsale trade Retail trade Professional & business services Education & health services Leisure & hospitality Finance, insurance, and real estate Information Other services Federal government, civilian State government Local government Total enployrnent 2021 1 11,600 400 70,600 43,500 71,000 25,500 91,300 75,900 124,000 88,100 21,200 5,300 21,400 7,400 18,300 95,900 771,400 Source: State of California Economic Development Department Year represcnts rnost recent data available. % of Total Employment 1.5% 0.1% 9.2% 5.6% 9.2% 3.3% 11.8% 9.8% 16.1% 11.4% 2.7% 0.7% 2.9% 1.0% 2.4% 12.4% 100.0% % of Total 2012 Ennployrnent 12,500 400 35,900 39,400 21,000 20,700 81,400 54,000 78,900 72,300 19,300 6,400 19,200 6,800 15,700 89,600 573,500 2.2% 0.1% 6.3% 6.9% 3.7% 3.6% 14.2% 9.4% 13.8% 12.6% 3.3% 1.1% 3.4% 1.3% 2.7% 15.6% 100.0% 124 Riverside County Transportation Carmission Full-time Equivalent Employees by FunctionlProgram Last Ten Fiscal Years As ofJune30 Function>✓Program 2022 2021 1 2020 2019 2018 2017 2016 2015 2014 2013 Management services and administration 21.1 18.5 18.7 18.0 19.2 17.1 14.7 16.2 13.8 14.1 Planning and prograrrrring 4.0 5.3 5.5 3.5 4.2 4.9 6.2 6.1 5.9 4.9 Rail operations and maintenance 3.8 4.4 3.5 3.4 4.1 4.3 4.5 4.0 3.1 2.9 S ali�cl transit/transportation 2.7 2.6 2.4 2.9 2.4 2.7 2.3 2.3 3.4 2.5 Commuter assistance 0.9 1.8 1.4 1.4 1.7 1.4 1.8 3.0 1.7 1.8 Motorist assistance 0.5 1.0 0.9 0.8 0.9 0.8 0.7 0.7 0.9 0.9 Capital project development and delivery and toll operations 20.7 16.6 17.6 16.0 15.5 15.8 15.8 13.7 15.2 1a9 Regional conservation 13.3 12.8 - - - - Total full-time equivalents 67.0 63.0 50.0 46.0 48.0 47.0 46.0 46.0 44.0 41.0 Source: Finance Department 1 Effective January 1, 2021, ROTC became the managing agency for the Western Riverside County Regional Conservation Authority. 125 RIVERSIDE COUNTY TRANSPORTATION COMMISSION Riverside County Transportation Cormissian Operating Inckcators Last Ten Fiscal Years AsofJune30 2022 2021 2020 2019 2018 Toll operations: ROTC 91 Express Lanes Gross trips 16,778,526 13,025,785 13,119,123 15,143,222 14,518,302 Gross potential revenue $ 63,190,923 $ 43,734,242 $ 56,058,450 $ 57,172,266 $ 47,941,733 Average gross potential revenue per trip $ 3.77 $ 3.36 $ 4.12 $ 3.78 $ 3.30 15 Express Lanes Gross transactions 23,465,946 4,172,026 Cross potential revenue $ 29,850,618 5,361,524 Average gross potential revenue per transadior $ 1.27 $ 1.29 Comruter rail operations: 2 CiaMh of average daily ridership on oomnrter lines: Riverside line - 469 3,961 3,868 3,863 IECCIine - 1,028 4,784 4,656 4,874 91 line - 685 3,731 3,293 3,109 Faaetux recovery ratio: Riverside line 0.0% 6.6% 19.8% 43.0% 45.4% 1E03 line 0.0% 5.4% 21.1% 27.5% 29.2% 91 line 0.0% 5.7% 16.4% 24.1% 26.5% Spedalized transit/transportation: Specialized transit grants averded 15 18 18 18 16 Corrmrter assistance: 2 RdeshareIntuitive rrerrbus 203 97 519 526 573 Rideshare Plus Re ardsrrerrtx�s 88 107 630 917 1,114 R ideshare pledges 391 NYA 8,349 7,836 5,959 R ideguides produced 3,320 2,748 5,901 6,246 4,606 VanC7ubvanpools 33 29 32 67 31 Corrrruter Exchange events N/A WA N/A NYA NYA Nbtorist assistance: Call boxes 158 158 158 231 241 Calls made fion ncall boxes 935 936 979 1,384 1,598 Contracted Freeway Service Patrol vehides 26 26 26 26 20 Assists by Freevoy Service Patrd 54,217 59,711 49,051 44,607 41,417 IE511 vrebvisits 160,930 204,259 296,339 213,689 408,021 IE511 call volumes 77,868 65,046 95,164 114,045 142,287 Transportation Uniform Mtigation Fee program Approved regional arterial projects 25 23 23 23 20 Measure A program Fighways $ 129,198,965 $ 123,154,255 $ 209,530,745 $ 148,387,823 $ 180,565,301 Courtlier rail 12,079,835 16,871,212 16,744,864 13,218,370 14,118,997 Regional arterials 3,207,422 1,249,823 4,939,979 12,533,037 6,158,736 Local streets and roads 85,183,610 74,082,952 59,475,694 61,470,359 53,639,698 Specialized transit and corrmater assistance 17,397,325 11,629,836 16,568,400 16,708,843 15,197,859 Total program expenditures $ 247,067,157 $ 226,988,078 $ 307,259,682 $ 252,318,432 $ 269,680,591 Source: Commission Depart rerits 1 In FY 2021, the Commission readied substantial completion on the 1-15 Express Lanes project and in April 2021 the 15 Express Lanes opened to motorists. 2 In FY2021, the decease in conmler rail operations and cormuter assistance is a result of the inpads of CCMD-19 and stay at 1 are orders. 127 Riverside County Transportation Corrrrission Operating Indicators, Continued Last Ten Fiscal Years As ofJune 30 2017 2016 2015 2014 2013 Toll operations: ROTC 91 Express Lanes Gross trips 4,049,067 - Gross potential revenue $ 9,618,429 - Average gross potential revenue per trip $ 2.38 - 15 Express Lanes Cross trarsadions - Gross potential revenue - - Average grass potential revenue per transaction - Corrrruter rail operations: GraMh of average daily ridership al oornnrter lines: Riverside line 4,050 4,404 4,651 4,715 4,911 IE0CIine 4,900 4,438 4,613 4,522 4,317 91 line 3,258 2,610 2,419 2,340 2,407 Farebox recovery ratio: Riverside line 47.2% 45.7% 49.6% 50.9% 57.0% IE0Cline 31.8% 33.4% 32.6% 37.6% 34.9% 91 line 26.5% 27.7% 38.6% 51.3% 42.2% Spedalized transit/transportation: Specialized transit grants awarded 17 17 20 22 22 Corrrruter assistance: FadeshareInorartiverrerrburs 505 597 736 1,106 926 FadeshareRrsRewards rrerrtxrs 792 1,142 3,723 5,770 6,786 Fadeshare pledges Fadeguides produced Varraub vanpods Corrmater Exchange events 4,886 4,249 11,180 11,661 12765 5,219 8,607 6,527 10,059 14,813 WA WA NIA WA NIA NIA N/A 48 54 55 MVbtaist assistance: Call boxes 240 545 549 570 580 Calls made fruncall boxes 2,161 3,053 3,882 4,685 5,337 Contracted Freeway Service Patrol vehides 20 21 21 21 21 Assists by Freeway Service Patrd 40,180 36,711 42,471 44,278 43,633 IE511 web visits 618,130 473,462 452,713 443,359 399,730 IE511 call vdurres 201,099 233,895 263,757 306,108 351,161 Transportation Uniform Mtigation Fee progarrr Approved regional arterial projects 20 24 24 24 24 Measure A program Figl ays $ 250,360,723 $ 372,657,029 $ 325,128,109 $ 299,398,122 $ 118,750,336 Commuter rail 8,528,984 75,831,961 98,302,229 56,148,017 15,895,661 Regional arterials 14,739,703 17,090,247 5,012,254 1,441 1,787 Local streets and roads 51,864,011 49,826,564 48,615,815 46,677,580 44,594,891 Specialized transit and commuter assistance 13,826,624 14,499,642 14,063,310 13,378,223 11,927,634 Total program expenditures $ 339,320,045 $ 529,905,443 $ 491,121,717 $ 415,603,383 $ 191,170,309 Source: Commission Departrrerds RIVERSIDE COUNTY TRANSPORTATION COMMISSION Riverside County Transportation Commission Capital Asset Statistics by Program Last Ten Fiscal Years As ofJune30 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 Commuter rail: Transit centers owned and managed 1 1 1 1 1 1 1 1 1 1 Computer rail stations owned and managed 9 9 9 9 9 9 9 5 5 5 Niles of commuter rail easements 104.6 104.6 104.6 104.6 104.6 104.6 104.6 104.6 104.6 104.6 Commuter Assistance: Commuter Exchange Vehide TdI operations: RCTC 91 Expres: Lanes Storage and maintenance building - - 1 1 1 1 Customer service center 1 1 1 1 - TdI utility buildings 2 2 3 3 3 3 Niles of express lanes 36 36 36 36 36 36 Tdl cdlection system gantries 4 4 4 4 4 4 Cn-road dosed dreuit TV cameras 36 36 36 36 36 36 Traffic operations center system 1 1 1 1 1 1 Communications network 1 1 1 1 1 1 Changeable message signs 5 5 6 6 6 6 15 Express, Lanes Storage and maintenance building 1 1 Customer service center 1 1 Regional operations center buildings 1 1 Niles of express lanes 56 56 TdI collection system gantries 8 8 Cu -road dosed drcuit TV cameras 27 27 Traffic detection monitoring devices 37 37 Traffic operations center system 1 1 Communications network 1 1 Changeable message signs 3 3 Variable tdl message signs 12 12 Source: Commission Departments 1 1 129 ATTACHMENT 2 Local Transportation Fund of the County of Riverside, as Administered by the Riverside County Transportation Commission Financial and Compliance Reports Year Ended June 30, 2022 Contents Independent Auditor's Report 1-3 Financial Statements Balance Sheet 4 Statement of Revenues, Expenditures and Change in Fund Balance 5 Notes to Financial Statements 6-8 Supplementary Information Schedule of Allocations and Disbursements Schedule of Unclaimed Apportionments (Article 3) Schedule of Unclaimed Apportionments (Articles 4 and 8) Independent Auditor's Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance With Government Auditing Standards 9 10 11 12-13 EideBailly CPAs & BUSINESS ADVISORS Independent Auditor's Report Board of Commissioners Riverside County Transportation Commission Riverside, California Report on the Audit of the Financial Statements Opinion We have audited the financial statements of the Local Transportation Fund (the Fund) of the County of Riverside, California, as administered by the Riverside County Transportation Commission (Commission) as of and for the year ended June 30, 2022, and the related notes to the financial statements, as listed in the table of contents. In our opinion, the accompanying financial statements referred to above present fairly, in all material respects, the financial position of the Fund of the County of Riverside, California, as administered by the Commission, as of June 30, 2022, and the changes in financial position for the year then ended in accordance with accounting principles generally accepted in the United States of America. Basis for Opinion We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS) and the standards applicable to financial audits contained in Government Auditing Standards (Government Auditing Standards), issued by the Comptroller General of the United States. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the Commission and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. Emphasis of Matter As discussed in Note 1 to the financial statements, the financial statements present only the Fund and do not purport to, and do not, present fairly the financial position of the Commission or the County of Riverside, California, as of June 30, 2022 and the changes in financial position for the year then ended, in accordance with accounting principles generally accepted in the United States of America. Our opinion is not modified with respect to this matter. 1 What inspires you, inspires us. eidebailly.com 10681 Foothill Blvd., Ste. 300 Rancho Cucamonga, CA 91730-3831 T 909.466.4410 F 909.466.4431 EOE Responsibilities of Management for the Financial Statements Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America; and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor's Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS and Government Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements. In performing an audit in accordance with GAAS and Government Auditing Standards, we: • Exercise professional judgment and maintain professional skepticism throughout the audit. • Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Commission's internal control. Accordingly, no such opinion is expressed. • Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements. We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control —related matters that we identified during the audit. Required Supplementary Information Management has omitted management's discussion and analysis that accounting principles generally accepted in the United States of America require to be presented to supplement the basic financial statements. Such missing information, although not a part of the financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the financial statements in an appropriate operational, economic or historical context. Our opinion on the financial statements is not affected by this missing information. 2 Supplementary Information Our audit was conducted for the purpose of forming an opinion on the financial statements that collectively comprise the Fund's basic financial statements. The statements listed in the table of contents as supplementary information are presented for purposes of additional analysis and are not a required part of the basic financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements. The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the statements listed in the table of contents are fairly stated, in all material respects, in relation to the basic financial statements as a whole. Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated October 31, 2022, on our consideration of the Commission's internal control over the Fund's financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the Commission's internal control over financial reporting or on compliance related to the Fund. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the Commission's internal control over the Fund's financial reporting and compliance. SGT Rancho Cucamonga, California October 31, 2022 3 Local Transportation Fund of the County of Riverside, as Administered by the Riverside County Transportation Commission Balance Sheet June 30, 2022 Assets Cash and investments in Riverside County Pooled Investment Fund Accounts receivable Interest receivable Total assets Liabilities and Fund Balance $ 249,779,594 28, 505, 370 421,281 $ 278,706,245 Liabilities: Accounts payable Due to other Commission funds Total liabilities Restricted: Unapportioned Local Transportation Funds Rail and bus transit and local streets and roads apportionments Bicycle and pedestrian projects Total fund balance Total liabilities and fund balance See Notes to Financial Statements. $ 1,071,563 779,787 1,851,350 38,617,396 229, 890, 013 8,347,486 276, 854, 895 $ 278,706,245 4 Local Transportation Fund of the County of Riverside, as Administered by the Riverside County Transportation Commission Statement of Revenues, Expenditures and Change in Fund Balance Year Ended June 30, 2022 Revenues: Sales taxes Other reimbursements Interest income (loss) Total revenues $ 150,693,950 1,996,063 (3,996,140) 148, 693, 873 Expenditures: Bicycle and pedestrian projects 1,587,819 Transit 47, 961, 994 Planning, programming, and administration 6,835,587 Total expenditures 56,385,400 Excess of revenues over (under) expenditures 92,308,473 Net change in fund balance 92,308,473 Fund balance, beginning of year 184,546,422 Fund balance, end of year $ 276,854,895 See Notes to Financial Statements. 5 Local Transportation Fund of the County of Riverside, as Administered by the Riverside County Transportation Commission Notes to Financial Statements June 30, 2022 Note 1. Nature of Operations and Significant Accounting Policies The Riverside County Transportation Commission (the Commission), in its capacity as the transportation planning agency for the County of Riverside, California (the County), is responsible for administering funds provided through the Local Transportation Fund (the Fund), which was created in accordance with the provisions of the Transportation Development Act of 1971. The significant revenue to the Fund is derived from 0.25 percent of the 7.75 percent statewide sales tax collected in the County by the State Board of Equalization (State). The accounting policies of the Fund, a special revenue fund of the Commission, conform to accounting principles generally accepted in the United States as applicable to governmental units. Presentation: The accompanying financial statements of the Fund are intended to present the financial position and the changes in financial position of only that portion of the governmental activities of the Commission that is attributable to the transactions of the Fund of the Commission. They do not purport to, and do not, present fairly the financial position of the Commission or the County as of June 30, 2022 and the related changes in its financial position for the year then ended, in conformity with accounting principles generally accepted in the United States of America. Basis of accounting: In accordance with the requirements for governmental funds, the modified accrual basis of accounting is followed in the Fund. Under the modified accrual basis of accounting, expenditures are recorded when they are expected to be liquidated with expendable available resources, and revenue is recorded when it becomes both measurable and available. "Measurable" means the amount of the transaction can be determined, and "available" means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. For this purpose, the Commission considers revenues to be available if they are collected within 180 days of the end of the current fiscal period. Those revenues susceptible to accrual include sales taxes collected and held by the State at year-end on behalf of the Commission and interest revenue. Funding: There is a three -step process for obtaining funds from the Fund: apportionment, allocation and payment. Annually, the Commission determines each area's share of the anticipated Fund. This share is the area apportionment. Once funds are apportioned to a given area, they are typically available only for allocation to claimants in that area. Allocation is the discretionary action by the Commission that designates funds for a specific claimant for a specific purpose. Payment is authorized by disbursement instructions issued by the Commission. Cash: It is the Commission's policy to deposit all funds received in the Riverside County Pooled Investment Fund (RCPIF), as legally required, until the funds are required for disbursement. Interest income is earned while these funds are deposited. Accounts receivable: Accounts receivable consist primarily of Fund sales tax revenues from the State on all taxable sales within the County of Riverside, California through June 30, 2022. Accounts payable: Accounts payable consist primarily of claims approved by the Commission, but not paid by the Commission, to the appropriate transit operators by June 30, 2022. 6 Local Transportation Fund of the County of Riverside, as Administered by the Riverside County Transportation Commission Notes to Financial Statements June 30, 2022 Note 1. Nature of Operations and Significant Accounting Policies (Continued) Fund balance restrictions: The Fund reports restricted fund balances to show the level of constraint governing the use of the funds as set forth by enabling State legislation. Expenditures: Expenditures represent disbursements to the Commission, Southern California Association of Governments, cities, the County of Riverside and transit operators that have met the claimant eligibility requirements to receive Fund allocations that are approved by the Commission, per various Public Utilities Code Sections. All disbursements are to be used for transportation purposes. Note 2. Cash and Investments with County Treasurer The funds in the RCPIF are pooled with those of other entities and invested in accordance with the County's investment policy. These pooled funds are carried at fair value. Investments in U.S.Treasury, federal agency, mortgage and asset -backed, municipal, corporate, negotiable certificates of deposit, and commercial paper securities are carried at fair value based on quoted market prices. Money market mutual funds are carried at fair value based on each fund's share price. The pooled funds are not subject to level 1, 2 or 3 of the fair value hierarchy prescribed by Governmental Accounting Standards Board Statement No. 72, Fair Value Measurement and Application. An Investment Oversight Committee has been established by the County, which acts as a regulator of the pool. As of June 30, 2022, the Commission had $249,779,594 invested in the RCPIF, with an average maturity of 434 days. Additional information on investment types, fair value measurement and credit risk of the RCPIF may be obtained from the County of Riverside Treasurer -Tax Collector located at 4080 Lemon Street, 41h Floor, Riverside, California 92502 or by visiting the Treasurer -Tax Collector website at www.countytreasurer.org. Interest rate risk: While the Commission does not have a formal policy related to the interest rate risk of investments, the Commission's investment policy follows the California Government Code as it relates to limits on investment maturities as a means of managing exposure to fair value losses arising from increasing interest rates. Credit risk: As of June 30, 2022 the Commission's investment in the RCPIF was rated Aaa/bf by Moody's Investors Service and AAAf/S1 by Fitch Ratings. The Commission's investment policy only requires credit quality ratings for repurchase agreements, U.S. corporate debt, commercial paper, bankers' acceptances, and certificates of deposit. 7 Local Transportation Fund of the County of Riverside, as Administered by the Riverside County Transportation Commission Notes to Financial Statements June 30, 2022 Note 3. Fund Balance The restricted fund balance represents the apportionments related to transit programs by geographic area, bicycle and pedestrian projects, planning and programming, and unapportioned Local Transportation Funds. For Western County transit programs, commuter rail and bus allocations are in accordance with the Commission's policy. At June 30, 2022, amounts in fund balance are restricted as follows: Rail and bus transit and local streets and roads apportionments: Western County: Commuter rail: Apportioned and unallocated $ 37,098,885 Bus transit: Allocated and unclaimed — City of Banning 19,286 Allocated and unclaimed — RNerside Transit Agency 2,458,675 Apportioned and unallocated 149,268,100 Total rail and bus transit—Westem County 188,844,946 Coachella Valley: Allocated and unclaimed Apportioned and unallocated Total bus transit — Coachella Valley 1,361,560 37, 462, 926 38,824,486 Palo Verde Valley: Allocated and unclaimed — Transit 2,220,581 Total bus transit — Palo Verde Valley 2,220,581 Total for rail and bus transit apportionments $ 229,890,013 Bicycle and pedestrian projects: Allocated and unclaimed $ 6,188,478 Unallocated 2,159, 008 Total for bicycle and pedestrian projects $ 8,347,486 Unapportioned Local Transportation Funds $ 38, 617, 396 Total fund balance $ 276,854,895 8 Supplementary Information Local Transportation Fund of the County of Riverside, as Administered by the Riverside County Transportation Commission Schedule of Allocations and Disbursements Year Ended June 30, 2022 Article 3 Ranning, Programrring SB 821 Article 3 Article 4 and Administrative (Expirations Allocations Disbursements / Allocations Returned) Allocations Disbursements (Allocations Returned) Totals (Expirations / Allocations Ds bursements Allocations Disbursements Allocations Returned) Expenditures: Qty of Banning $ - $ - $ - $ 1,787,000 $ 1,767,714 $ - $ $ $ 1,787,000 $ 1,767,714 $ Qty of Beaumont - - - 1,875,092 2,411,849 (536,757) - 1,875,092 2,411,849 (536,757) Qty of Cathedral City 360,320 21,920 - - 360,320 21,920 Qty of Coachella - (7) - - - - (7) City of Corona - 556,563 746,710 (190,147) - 556,563 746,710 (190,147) City of Desert Hot Springs 330,906 - 330,906 City of Eastvale 432,500 - - - - 432,500 City of Jurupa Valley 364,880 - - - - 364,880 City of Lake Bsinore 285,023 - - - - - 285,023 - City of La Quinta 97,700 - - - - 97,700 City of Menifee 772,032 499,765 - - - 772,032 499,765 City of Moreno Valley 1,150,000 392,369 (127,631) - - 1,150,000 392,369 (127,631) City of Norco 96,000 - - 96,000 City of Palm Desert 85,000 66,817 (18,183) - - - - 85,000 66,817 (18,183) City of Palm Springs 168,500 - 168,500 City of Perris 100,000 100,000 - - 100,000 100,000 City of Rancho Mirage 865,000 - 865,000 City of Riverside 772,500 (76,763) (76,763) 4,239,596 4,239,596 - 5,012,096 4,162,833 (76,763) City of Wildomar 1,088,825 - 1,088,825 County of Riverside: Auditor/Controller - 12,000 12,000 12,000 12,000 Road Department 1,982,981 583,711 (147,770) 1,982,981 583,711 (147,770) Palo Verde Valley Transit Agency - 605,691 816,954 (211,263) 605,691 816,954 (211,263) Commission - - - - - 5,650,587 5,650,587 5,650,587 5,650,587 Riverside Transit Agency - - - 30,565,407 29,164,619 (1,057,889) 30,565,407 29,164,619 (1,057,889) SCAG - - - - 1,173,000 1,173,000 1,173,000 1,173,000 Sunline Transit Agency 10,176,110 8,814,552 - - 10,176,110 8,814,552 $8,952,167 $ 1,587,819 $(370,354) $ 49,805,459 $ 47,961,994 $ (1,996,056) $6,835,587 $ 6,835,587 $ 65,593,213 $ 56,385,400 $ (2,366,410) 9 Local Transportation Fund of the County of Riverside, as Administered by the Riverside County Transportation Commission Schedule of Unclaimed Apportionments (Article 3) Year Ended June 30, 2022 Unclaimed Unclaimed Apportionment Interest Apportionment July 1, 2021 Apportionment Reimbursements Disbursements Income (Loss) June 30, 2022 Bicycle and pedestrian projects $ 7,091,610 $ 2,986,000 $ 7 $ (1,587,819) $ (142,312) $ 8,347,486 10 Local Transportation Fund of the County of Riverside, as Administered by the Riverside County Transportation Commission Schedule of Unclaimed Apportionments (Articles 4 and 8) Year Ended June 30, 2022 Fiscal Year 2021/22 Prior Fiscal Year Apportionment Amounts Claimed Unclaimed Apportionment Amounts Apportionment aaimed Amount Returned Unclaimed Apportionment Total Unclaimed Interest Apportionment Allocation June 30, 2022 Western County: Rail Bus Coachella Valley $ 23,100,000 81,900,000 $ - $ 23,100,000 $ 14,631,367 $ - $ - $ 14,631,367 $ (632,482) $ 37,098,885 38,009,818 43,890,182 108,936,557 320,671 1,784,793 110,400,679 (2,544,800) 151,746,061 25,286,000 8,741,451 16,544,549 22,991,725 73,100 22,918,625 (638,688) 38,824,486 Palo Verde Valley: Transit 1,389,000 816,954 572,046 1,475,130 - 211,263 1,686,393 (37,858) 2,220,581 Total transportation 131,675,000 47,568,223 84,106,777 148,034,779 393,771 1,996,056 149,637,064 (3,853,828) 229,890,013 Auditor/Controller 12,000 12,000 Commission administration 743,700 743,700 - Commission planning 4,906,887 4,906,887 - - SCAG planning 1,173,000 1,173,000 - Total administration and planning 6,835,587 6,835,587 Total apportionments $ 138,510,587 $ 54,403,810 $ 84,106,777 $ 148,034,779 $ 393,771 $ 1,996,056 $ 149,637,064 $ (3,853,828) $ 229,890,013 11 EideBailly CPAs & BUSINESS ADVISORS Independent Auditor's Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards Board of Commissioners Riverside County Transportation Commission Riverside, California We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States, the financial statements of the Local Transportation Fund (the Fund) of the County of Riverside, California, as administered by the Riverside County Transportation Commission (Commission), as of and for the year ended June 30, 2022 , and the related notes to the financial statements, and have issued our report thereon dated October 31, 2022. Our report included an emphasis of matter paragraph indicating that the financial statements present only the Fund and do not purport to, and do not, present fairly the financial position of the Commission or the County of Riverside, California, as of June 30, 2022, and the changes in its financial position for the year ended in accordance with accounting principles generally accepted in the United States of America. Report on Internal Control over Financial Reporting In planning and performing our audit of the financial statements, we considered the Commission's internal control over the Fund's financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the Commission's internal control related to the Fund. Accordingly, we do not express an opinion on the effectiveness of the Commission's internal control related to the Fund. A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the Fund's financial statements will not be prevented, or detected and corrected, on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance. Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies. Given these limitations, during our audit, we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses or significant deficiencies may exist that have not been identified. 12 What inspires you, inspires us. eidebailly.com 10681 Foothill Blvd., Ste. 300 Rancho Cucamonga, CA 91730-3831 T 909.466.4410 F 909.466.4431 EOE Report on Compliance and Other Matters As part of obtaining reasonable assurance about whether the Fund's financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts and grant agreements, noncompliance with which could have a direct and material effect on the financial statements. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards. Purpose of this Report The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the Commission's internal control or on compliance as it relates to the Fund. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the Commission's internal control and compliance related to the Fund. Accordingly, this communication is not suitable for any other purpose. SGT Rancho Cucamonga, California October 31, 2022 13 ATTACHMENT 3 State Transit Assistance Fund of the County of Riverside, as Administered by the Riverside County Transportation Commission Financial and Compliance Reports Year Ended June 30, 2022 Contents Independent Auditor's Report 1-3 Financial Statements Balance Sheet Statement of Revenues, Expenditures and Change in Fund Balance Notes to Financial Statements 4 5 6-8 Supplementary Information Schedule of Allocations and Disbursements Approved During the Year 9 Independent Auditor's Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance With Government Auditing Standards 10-11 EideBailly CPAs & BUSINESS ADVISORS Independent Auditor's Report Board of Commissioners Riverside County Transportation Commission Riverside, California Report on the Audit of the Financial Statements Opinion We have audited the financial statements of the State Transit Assistance Fund (the Fund) of the County of Riverside, California, as administered by the Riverside County Transportation Commission (Commission) as of and for the year ended June 30, 2022, and the related notes to the financial statements, as listed in the table of contents. In our opinion, the accompanying financial statements referred to above present fairly, in all material respects, the financial position of the Fund, as of June 30, 2022, and the changes in financial position for the year then ended in accordance with accounting principles generally accepted in the United States of America. Basis for Opinion We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS) and the standards applicable to financial audits contained in Government Auditing Standards (Government Auditing Standards), issued by the Comptroller General of the United States. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of Commission's and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Emphasis of Matter As discussed in Note 1 to the financial statements, the financial statements present only the Fund and do not purport to, and do not, present fairly the financial position of the Commission or the County of Riverside, California, as of June 30, 2022 and the changes in financial position for the year then ended, in accordance with accounting principles generally accepted in the United States of America. Our opinion is not modified with respect to this matter. 1 What inspires you, inspires us. eidebailly.com 10681 Foothill Blvd., Ste. 300 Rancho Cucamonga, CA 91730-3831 T 909.466.4410 F 909.466.4431 EOE Responsibilities of Management for the Financial Statements Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America; and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor's Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS and Government Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements. In performing an audit in accordance with GAAS and Government Auditing Standards, we: • Exercise professional judgment and maintain professional skepticism throughout the audit. • Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of Commission's internal control. Accordingly, no such opinion is expressed. • Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements. We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control —related matters that we identified during the audit. Required Supplementary Information Management has omitted the management's discussion and analysis that accounting principles generally accepted in the United States of America require to be presented to supplement the basic financial statements. Such missing information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. Our opinion on the basic financial statements is not affected by the missing information. 2 Supplementary Information Our audit was conducted for the purpose of forming an opinion on the financial statements that collectively comprise the Fund's basic financial statements. The schedules listed in the table of contents are presented for purposes of additional analysis and are not a required part of the basic financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements. The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the schedules listed in the table of contents are fairly stated, in all material respects, in relation to the basic financial statements as a whole. Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated October 31, 2022, on our consideration of the Commission's internal control over the Fund's financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of Commission's internal control over financial reporting or on compliance related to the Fund. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering Commission's internal control over the Fund's financial reporting and compliance. SGT Rancho Cucamonga, California October 31, 2022 3 State Transit Assistance Fund of the County of Riverside, as Administered by the Riverside County Transportation Commission Balance Sheet June 30, 2022 Assets Cash and investments Accounts receivable Interest receivable Total assets Liabilities and Fund Balance $ 124,637,846 7,321,447 240,241 $ 132,199,534 Liabilities Accounts payable Due to other Commission funds Total liabilities Fund Balance Restricted allocations available for programming Restricted for unclaimed allocations Total fund balance Total liabilities and fund balance See Notes to Financial Statements. $ 510,320 33,800 544,120 62,413,941 69,241,473 131,655,414 $ 132,199,534 4 State Transit Assistance Fund of the County of Riverside, as Administered by the Riverside County Transportation Commission Statement of Revenues, Expenditures and Change in Fund Balance Year Ended June 30, 2022 Revenues: Sales taxes Interest income (loss) Total revenues $ 25,773,517 (2,038,954) 23, 734, 563 Expenditures: Administration 121,705 Transit 20,539,622 Total expenditures 20,661,327 Net change in fund balance 3,073,236 Fund balance, beginning of year 128,582,178 Fund balance, end of year $ 131,655,414 See Notes to Financial Statements. 5 State Transit Assistance Fund of the County of Riverside as Administered by the Riverside County Transportation Commission Notes to Financial Statements June 30, 2022 Note 1. Nature of Operations and Significant Accounting Policies The Riverside County Transportation Commission (the Commission), in its capacity as the transportation planning agency for the County of Riverside, California (the County), is responsible for administering funds provided through the State Transit Assistance Program, which was created in 1979 under Chapter 161 (SB 620) of the California statutes to provide a second source of Transportation Development Act funding for the development of transit systems. The funds are derived from fuel sales tax revenue and are budgeted through legislation and appropriated to the State Controller's Office (the State) for allocation to local agencies. The accounting policies of the State Transit Assistance Fund (the Fund), a special revenue fund of the Commission, conform to accounting principles generally accepted in the United States as applicable to governmental units. A summary of the Commission's significant accounting policies is as follows: Presentation: The accompanying financial statements of the Fund are intended to present the financial position and the changes in financial position of only that portion of the governmental activities of the Commission that is attributable to the transactions of the Fund of the Commission. They do not purport to, and do not, present fairly the financial position of the Commission or the County as of June 30, 2022 and the related changes in its financial position for the year then ended, in conformity with accounting principles generally accepted in the United States of America. Basis of accounting: In accordance with the requirements for governmental funds, the modified accrual basis of accounting and current resources measurement focus is followed in the Fund. Under this method of accounting, expenditures are recorded when they are expected to be liquidated with expendable available resources, and revenue is recorded when it becomes both measurable and available. "Measurable" means the amount of the transaction can be determined, and "available" means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. For this purpose, the Commission considers revenues to be available if they are collected within 180 days of the end of the fiscal year. Those revenues susceptible to accrual include fuel sales tax revenue and interest revenue. Allocations to local agencies: State transit assistance funds are allocated to the operators within the County. Public Utilities Code (PUC) Section 99313 allocates funds to regional transportation planning agencies based on the ratio of area population to state population. PUC Section 99314 allocates funds to public operators based on their share of fares and local support to other operators in the state. The allocations must be made in a resolution adopted by the Commission. Cash and investments: It is the Commission's policy to deposit all funds received in the Riverside County Pooled Investment Fund (RCPIF) or US Bank for investment until the funds are required for disbursement. Interest income is earned while these funds are deposited. Accounts receivable: Accounts receivable consist primarily of fuel sales tax revenues from the State of California not received as of June 30, 2022. 6 State Transit Assistance Fund of the County of Riverside as Administered by the Riverside County Transportation Commission Notes to Financial Statements June 30, 2022 Note 1. Nature of Operations and Significant Accounting Policies (Continued) Fund balance restrictions: The Fund reports restricted fund balances to show the level of constraint governing the use of the funds as set forth by enabling State legislation. The restricted fund balance for allocations available for programming represents amounts apportioned but not allocated to claimants. The restricted fund balance for unclaimed allocations represents amounts allocated by the Commission and due to claimants but not yet paid, as claimants have not yet provided the appropriate claim documentation to the Commission as of June 30, 2022. Accounts payable: Accounts payable consist primarily of claims approved by the Commission, but not paid by the Commission, to the appropriate transit operators by June 30, 2022. Expenditures: Expenditures represent funds disbursed to transit operators that have met the eligibility requirements to receive State Transit Assistance Program funds per PUC Sections 99313 and 99314. All disbursements are to be used for transit purposes. Note 2. Cash and Investments Cash and investments at June 30, 2022 consist of the following: Cash and investments with RCPIF Commission operating investment pool Cash in bank $ 113, 817, 959 10, 819, 887 $ 124,637,846 The funds in the RCPIF are pooled with those of other entities in the RCPIF and invested in accordance with the County's investment policy. The funds in the Commission's operating investment pool are pooled with those of other Commission operating funds and invested in accordance with the Commission's investment policy. These pooled funds are carried at fair value. Investments in U.S.Treasury, federal agency, mortgage and asset -backed, municipal, corporate, negotiable certificates of deposit, and commercial paper securities are carried at fair value based on quoted market prices. Money market mutual funds are carried at fair value based on each fund's share price. The pooled funds are not subject to level 1, 2 or 3 of the fair value hierarchy prescribed by Governmental Accounting Standards Board Statement No. 72, Fair Value Measurement and Application. The Commission is a voluntary participant in the RCPIF. An Investment Oversight Committee has been established by the County, which acts as a regulator of the RCPIF. As of June 30, 2022, the Fund had $113,817,959 invested in the RCPIF, with a weighted average maturity of 434 days, and $10,819,887 invested in the Commission operating investment pool. Additional information on investment types, fair value measurement and credit risk of the RCPIF and the Commission operating investment pool may be obtained from the County of Riverside Treasurer -Tax Collector located at 4080 Lemon Street, 41h Floor, Riverside, California 92502 or by visiting the Treasurer -Tax Collector website at www.countytreasurer.org and the notes to the Commission's basic financial statements included in the Commission's Annual Comprehensive Financial Report, respectively. Interest rate risk: While the Commission does not have a formal policy related to the interest rate risk of investments, the Commission's investment policy follows the California Government Code as it relates to limits on investment maturities as a means of managing exposure to fair value losses arising from increasing interest rates. 7 State Transit Assistance Fund of the County of Riverside as Administered by the Riverside County Transportation Commission Notes to Financial Statements June 30, 2022 Note 2. Cash and Investments (Continued) Credit risk: As of June 30, 2022 the Commission's investment in the RCPIF was rated Aaa/bf by Moody's Investors Service and AAAf/S1 by Fitch Ratings. The Commission's investment policy only requires credit quality ratings for repurchase agreements, U.S. corporate debt, commercial paper, bankers' acceptances, and certificates of deposit. Note 3. Fund Balance At June 30, 2022, amounts are restricted for apportioned and unallocated amounts and for unpaid allocations by geographic area. For Western County transit programs, commuter rail and bus allocations are in accordance with the Commission's policy. Restricted for allocations available for programming: Western County: Commuter rail $ 40,154,995 Bus 19,882,507 Coachella Valley: Commuter rail 194,421 Bus 1,880,037 Palo Verde Valley 301,981 62,413,941 Restricted for unclaimed allocations: Western County: Commuter rail 1,893,358 City of Banning 3,159,278 City of Beaumont 4,983,218 City of Corona 1,270,193 City of Riverside 283,361 Riverside Transit Agency 47,479,550 Coachella Valley: SunLine Transit Agency 10,038,917 Rail 35,447 Palo Verde Valley: Palo Verde Valley Transit Agency 98,151 69,241,473 Total fund balance $ 131,655,414 8 Supplementary Information State Transit Assistance Fund of the County of Riverside, as Administered by the Riverside County Transportation Commission Schedule of Allocations and Disbursements Approved During the Year Year Ended June 30, 2022 California Code of Regulations Current Year Amount Section No. Recipient Allocation Disbursed Reference Western County: City of Banning $ 1,659,707 $ - 6731 City of Beaumont 1,484,000 161,226 6731 City of Corona 81,000 1,629 6731 City of Riverside 23,802 - 6731 Riverside Transit Agency 11,339,161 16,086,240 6730 Commission Commuter Rail Program 1,900,000 6,642 6730 Total Western County 16,487,670 16,255,737 Coachella Valley: SunLine Transit Agency 3,848,400 3,819,663 6730 Rail Program 448,339 412,892 6730 Total Coachella Valley 4,296,739 4,232,555 Palo Verde Valley Transit Agency 53,297 51,330 6730 Other - 121,705 $ 20,837,706 $ 20,661,327 9 EideBailly CPAs & BUSINESS ADVISORS Independent Auditor's Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards Board of Commissioners Riverside County Transportation Commission Riverside, California We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States, the financial statements of the State Transit Assistance Fund (the Fund) of the County of Riverside, California, as administered by the Riverside County Transportation Commission (Commission), as of and for the year ended June 30, 2022, and the related notes to the financial statements, and have issued our report thereon dated October 31, 2022. Our report included an emphasis of matter paragraph indicating that the financial statements present only the Fund and do not purport to, and do not, present fairly the financial position of the Commission or the County of Riverside, California, as of June 30, 2022, and the changes in its financial position for the year ended in accordance with accounting principles generally accepted in the United States of America. Report on Internal Control over Financial Reporting In planning and performing our audit of the financial statements, we considered the Commission's internal control over the Fund's financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the Commission's internal control related to the Fund. Accordingly, we do not express an opinion on the effectiveness of the Commission's internal control related to the Fund. A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the Fund's financial statements will not be prevented, or detected and corrected, on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance. Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies. Given these limitations, during our audit, we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses or significant deficiencies may exist that have not been identified. 10 What inspires you, inspires us. eidebailly.com 10681 Foothill Blvd., Ste. 300 Rancho Cucamonga, CA 91730-3831 T 909.466.4410 F 909.466.4431 EOE Report on Compliance and Other Matters As part of obtaining reasonable assurance about whether the Fund's financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts and grant agreements, noncompliance with which could have a direct and material effect on the financial statements. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards. Purpose of this Report The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the Commission's internal control or on compliance as it relates to the Fund. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the Commission's internal control and compliance related to the Fund. Accordingly, this communication is not suitable for any other purpose. SGT Rancho Cucamonga, California October 31, 2022 11 ATTACHMENT 4 State of Good Repair Fund of the County of Riverside, as Administered by the Riverside County Transportation Commission Financial and Compliance Reports Year Ended June 30, 2022 Contents Independent Auditor's Report 1-3 Financial Statements Balance Sheet Statement of Revenues, Expenditures and Change in Fund Balance Notes to Financial Statements 4 5 6-8 Supplementary Information Schedule of Allocations and Disbursements Approved During the Year 9 Independent Auditor's Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance With Government Auditing Standards 10-11 EideBailly CPAs & BUSINESS ADVISORS Independent Auditor's Report Board of Commissioners Riverside County Transportation Commission Riverside, California Report on the Audit of the Financial Statements Opinion We have audited the financial statements of the State of Good Repair Fund (the Fund) of the County of Riverside, California, as administered by the Riverside County Transportation Commission (Commission) as of and for the year ended June 30, 2022 and the related notes to the financial statements, as listed in the table of contents. In our opinion, the accompanying financial statements referred to above present fairly, in all material respects, the financial position of the Fund of the Commission, as of June 30, 2022, and the changes in financial position for the year then ended in accordance with accounting principles generally accepted in the United States of America. Basis for Opinion We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS) and the standards applicable to financial audits contained in Government Auditing Standards (Government Auditing Standards), issued by the Comptroller General of the United States. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the Commission and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Emphasis of Matter As discussed in Note 1, the financial statements present only the Fund and do not purport to, and do not, present fairly the financial position of the Commission or the County of Riverside, California, as of June 30, 2022 and the changes in financial position for the year then ended, in accordance with accounting principles generally accepted in the United States of America. Our opinion is not modified with respect to this matter. 1 What inspires you, inspires us. eidebailly.com 10681 Foothill Blvd., Ste. 300 Rancho Cucamonga, CA 91730-3831 T 909.466.4410 F 909.466.4431 EOE Responsibilities of Management for the Financial Statements Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America; and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor's Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS and Government Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements. In performing an audit in accordance with GAAS and Government Auditing Standards, we: • Exercise professional judgment and maintain professional skepticism throughout the audit. • Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of Commission's internal control. Accordingly, no such opinion is expressed. • Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements. We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control —related matters that we identified during the audit. Required Supplementary Information Management has omitted the management's discussion and analysis that accounting principles generally accepted in the United States of America require to be presented to supplement the basic financial statements. Such missing information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. Our opinion on the basic financial statements is not affected by the missing information. 2 Supplementary Information Our audit was conducted for the purpose of forming an opinion on the financial statements that collectively comprise the Fund's basic financial statements. The schedule listed in the table of contents is presented for purposes of additional analysis and is not a required part of the basic financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements. The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the schedule listed in the table of contents is fairly stated, in all material respects, in relation to the basic financial statements as a whole. Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated October 31, 2022, on our consideration of the Commission's internal control over the Fund's financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of Commission's internal control over financial reporting or on compliance related to the Fund. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering Commission's internal control over the Fund's financial reporting and compliance. SGT Rancho Cucamonga, California October 31, 2022 3 State of Good Repair Fund of the County of Riverside, as Administered by the Riverside County Transportation Commission Balance Sheet June 30, 2022 Assets Cash and investments Accounts receivable Interest receivable Total assets Liabilities and Fund Balance $ 10,694,456 725,768 21,309 $ 11,441,533 Liabilities Accounts payable Due to other Commission funds Total liabilities Fund Balance Restricted allocations available for programming Restricted for unclaimed allocations Total fund balance Total liabilities and fund balance See Notes to Financial Statements. $ 133,286 33,800 167,086 2,307,128 8,967,319 11,274,447 $ 11,441,533 4 State of Good Repair Fund of the County of Riverside, as Administered by the Riverside County Transportation Commission Statement of Revenues, Expenditures and Change in Fund Balance Year Ended June 30, 2022 Revenues: Sales taxes Interest income (loss) Total revenues $ 4,214,813 (159, 532) 4,055,281 Expenditures: Administration 84,600 Transit 4,059,958 Total expenditures 4,144,558 Net change in fund balance (89,277) Fund balance, beginning of year 11,363,724 Fund balance, end of year $ 11,274,447 See Notes to Financial Statements. 5 State of Good Repair Fund of the County of Riverside as Administered by the Riverside County Transportation Commission Notes to Financial Statements June 30, 2022 Note 1. Nature of Operations and Significant Accounting Policies The Riverside County Transportation Commission (the Commission), in its capacity as the transportation planning agency for the County of Riverside, California (the County), is responsible for administering funds provided through the State of Good Repair Program, which was created in 2017 under Chapter 5, (SB 1) of the California statutes to provide additional revenues for transit infrastructure repair and service improvements. The funds are derived from fuel sales tax and vehicle fee revenues and are budgeted through legislation and appropriated to the State Controller's Office (the State) for allocation to local agencies based on the State Transit Assistance formula. The accounting policies of the State of Good Repair Fund (the Fund), a special revenue fund of the Commission, conform to accounting principles generally accepted in the United States as applicable to governmental units. A summary of the Commission's significant accounting policies is as follows: Presentation: The accompanying financial statements of the Fund are intended to present the financial position and the changes in financial position of only that portion of the governmental activities of the Commission that is attributable to the transactions of the Fund of the Commission. They do not purport to, and do not, present fairly the financial position of the Commission or the County as of June 30, 2022 and the related changes in its financial position for the year then ended, in conformity with accounting principles generally accepted in the United States of America. Basis of accounting: In accordance with the requirements for governmental funds, the modified accrual basis of accounting and current resources measurement focus is followed in the Fund. Under this method of accounting, expenditures are recorded when they are expected to be liquidated with expendable available resources, and revenue is recorded when it becomes both measurable and available. "Measurable" means the amount of the transaction can be determined, and "available" means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. For this purpose, the Commission considers revenues to be available if they are collected within 180 days of the end of the fiscal year. Those revenues susceptible to accrual include fuel sales tax, vehicle fee, and interest revenue. Allocations to local agencies: State of Good Repair funds are allocated to the operators within the County. Public Utilities Code (PUC) Section 99313 allocates funds to regional transportation planning agencies based on the ratio of area population to state population. PUC Section 99314 allocates funds to public operators based on their share of fares and local support to other operators in the state. The allocations must be made in a resolution adopted by the Commission. Cash and investments: It is the Commission's policy to deposit all funds received in the Riverside County Pooled Investment Fund (RCPIF) for investment until the funds are required for disbursement. Interest income is earned while these funds are deposited. Accounts receivable: Accounts receivable consist primarily of fuel sales tax and vehicle fee revenues from the State of California not received as of June 30, 2022. Due to other Commission funds: Due to other Commission funds represents payables from the State of Good Repair program to the Commission for administrative allocation expenditures as of June 30, 2022. 6 State of Good Repair Fund of the County of Riverside as Administered by the Riverside County Transportation Commission Notes to Financial Statements June 30, 2022 Note 1. Nature of Operations and Significant Accounting Policies (Continued) Fund balance restrictions: The Fund reports restricted fund balances to show the level of constraint governing the use of the funds as set forth by enabling State legislation. The restricted fund balance for allocations available for programming represents amounts apportioned but not allocated to claimants. The restricted fund balance for unclaimed allocations represents amounts allocated by the Commission and due to claimants but not yet paid, as claimants have not yet provided the appropriate claim documentation to the Commission as of June 30, 2022. Expenditures: Expenditures represent funds disbursed to transit operators that have met the eligibility requirements to receive State of Good Repair Program funds per PUC Sections 99313 and 99314. All disbursements are to be used for transit purposes. Note 2. Cash and Investments Cash and investments at June 30, 2022 consist of the following: Cash and investments with RCPIF Cash in bank $ 10,694,266 190 $ 10,694,456 The funds in the RCPIF are pooled with those of other entities in the RCPIF and invested in accordance with the County's investment policy. The funds with the custodian are pooled with those of other Commission operating funds and invested in accordance with the Commission's investment policy. These pooled funds are carried at fair value. Investments in U.S.Treasury, federal agency, mortgage and asset - backed, municipal, corporate, negotiable certificates of deposit, and commercial paper securities are carried at fair value based on quoted market prices. Money market mutual funds are carried at fair value based on each fund's share price. The pooled funds are not subject to level 1, 2 or 3 of the fair value hierarchy prescribed by Governmental Accounting Standards Board Statement No. 72, Fair Value Measurement and Application. The Commission is a voluntary participant in the RCPIF. An Investment Oversight Committee has been established by the County, which acts as a regulator of the RCPIF. As of June 30, 2022, the Fund had $10,694,266 invested in the RCPIF, with a weighted average maturity of 434 days. Additional information on investment types, fair value measurement and credit risk of the RCPIF may be obtained from the County of Riverside Treasurer -Tax Collector located at 4080 Lemon Street, 41h Floor, Riverside, California 92502 or by visiting the Treasurer -Tax Collector website at www.countytreasurer.org. Interest rate risk: While the Commission does not have a formal policy related to the interest rate risk of investments, the Commission's investment policy follows the California Government Code as it relates to limits on investment maturities as a means of managing exposure to fair value losses arising from increasing interest rates. Credit risk: As of June 30, 2022 the Commission's investment in the RCPIF was rated Aaa/bf by Moody's Investors Service and AAAf/S1 by Fitch Ratings. The Commission's investment policy only requires credit quality ratings for repurchase agreements, U.S. corporate debt, commercial paper, bankers' acceptances, and certificates of deposit. 7 State of Good Repair Fund of the County of Riverside as Administered by the Riverside County Transportation Commission Notes to Financial Statements June 30, 2022 Note 3. Fund Balance At June 30, 2022, amounts are restricted for apportioned and unallocated amounts and for unpaid allocations by geographic area. For Western County transit programs, commuter rail and bus allocations are in accordance with the Commission's policy. Restricted for allocations available for programming: Western County: Bus $ 1,348,193 Coachella Valley 907,935 Palo Verde Valley 51,000 2,307,128 Restricted for unclaimed allocations: Western County: Commuter rail City of Banning City of Beaumont City of Corona City of Riverside Riverside Transit Agency Coachella Valley: SunLine Transit Agency Palo Verde Valley: Palo Verde Valley Transit Agency 968,068 45,722 235,653 433,130 404,448 4,393,403 2,428,349 58,546 8,967,319 Total fund balance $ 11,274,447 8 Supplementary Information State of Good Repair Fund of the County of Riverside, as Administered by the Riverside County Transportation Commission Schedule of Allocations and Disbursements Approved During the Year Year Ended June 30, 2022 California Code of Regulations Current Year Amount Disbursed Section No. Recipient Allocation (Accrual Reversal) Reference Western County: City of Banning $ - $ (4,122) 6731 City of Beaumont 60,000 51,999 6731 City of Corona 102,399 28,510 6731 City of Riverside 5,091 - 6731 Riverside Transit Agency 2,124,034 2,541,575 6730 Commission Commuter Rail Program 1,500,000 1,438,262 6730 Total Western County 3,791,524 4,056,224 SunLine Transit Agency 918,150 3,734 6730 Palo Verde Valley Transit Agency 50,465 - 6730 Other - 84,600 $ 4,760,139 $ 4,144, 558 9 EideBailly CPAs & BUSINESS ADVISORS Independent Auditor's Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards Board of Commissioners Riverside County Transportation Commission Riverside, California We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States, the financial statements of the State of Good Repair Fund (the Fund) of the County of Riverside, California, as administered by the Riverside County Transportation Commission (Commission), as of and for the year ended June 30, 2022, and the related notes to the financial statements, and have issued our report thereon dated October 31, 2022. Our report included an emphasis of matter paragraph indicating that the financial statements present only the Fund and do not purport to, and do not, present fairly the financial position of the Commission or the County of Riverside, California, as of June 30, 2022, and the changes in its financial position for the year ended in accordance with accounting principles generally accepted in the United States of America. Report on Internal Control over Financial Reporting In planning and performing our audit of the financial statements, we considered the Commission's internal control over the Fund's financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the Commission's internal control related to the Fund. Accordingly, we do not express an opinion on the effectiveness of the Commission's internal control related to the Fund. A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the Fund's financial statements will not be prevented, or detected and corrected, on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance. Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies. Given these limitations, during our audit, we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses or significant deficiencies may exist that have not been identified. 10 What inspires you, inspires us. eidebailly.com 10681 Foothill Blvd., Ste. 300 Rancho Cucamonga, CA 91730-3831 T 909.466.4410 F 909.466.4431 EOE Report on Compliance and Other Matters As part of obtaining reasonable assurance about whether the Fund's financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts and grant agreements, noncompliance with which could have a direct and material effect on the financial statements. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards. Purpose of this Report The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the Commission's internal control or on compliance as it relates to the Fund. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the Commission's internal control and compliance related to the Fund. Accordingly, this communication is not suitable for any other purpose. SGT Rancho Cucamonga, California October 31, 2022 11 ATTACHMENT 5 Proposition 1B Rehabilitation, Safety and Security Project Accounts, Accounts of the Riverside County Transportation Commission Financial and Compliance Reports Years Ended June 30, 2022 and 2021 Contents Independent Auditor's Report 1-3 Financial Statements Balance Sheets 4 Statements of Revenues, Expenditures and Change in Fund Balance 5 Notes to Financial Statements 6-8 Independent Auditor's Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance With Government Auditing Standards 9-10 EideBailly CPAs & BUSINESS ADVISORS Independent Auditor's Report Board of Commissioners Riverside County Transportation Commission Riverside, California Report on the Audit of the Financial Statements Opinion We have audited the financial statements of the Proposition 1B Rehabilitation, Safety and Security Project Accounts (the Accounts), Accounts of the Riverside County Transportation Commission (Commission), as of and for the years ended June 30, 2022 and 2021, and the related notes to the financial statements, as listed in the table of contents. In our opinion, the accompanying financial statements referred to above present fairly, in all material respects, the respective financial position of the Accounts of the Commission, as of June 30, 2022 and 2021, and the respective changes in financial position for the years then ended in accordance with accounting principles generally accepted in the United States of America. Basis for Opinion We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS) and the standards applicable to financial audits contained in Government Auditing Standards (Government Auditing Standards), issued by the Comptroller General of the United States. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the Commission and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Emphasis of Matter As discussed in Note 1 to the financial statements, the financial statements present only the Accounts and do not purport to, and do not, present fairly the financial position of the Commission as of June 30, 2022 and 2021, and the respective changes in financial position for the years then ended, in accordance with accounting principles generally accepted in the United States of America. Our opinion is not modified with respect to this matter. 1 What inspires you, inspires us. eidebailly.com 10681 Foothill Blvd., Ste. 300 Rancho Cucamonga, CA 91730-3831 T 909.466.4410 F 909.466.4431 EOE Responsibilities of Management for the Financial Statements Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America; and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor's Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS and Government Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements. In performing an audit in accordance with GAAS and Government Auditing Standards, we: • Exercise professional judgment and maintain professional skepticism throughout the audit. • Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of Commission's internal control. Accordingly, no such opinion is expressed. • Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements. We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control —related matters that we identified during the audit. Required Supplementary Information Management has omitted the management's discussion and analysis that accounting principles generally accepted in the United States of America require to be presented to supplement the basic financial statements. Such missing information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. Our opinion on the basic financial statements is not affected by the missing information. 2 Supplementary Information Our audit was conducted for the purpose of forming an opinion on the financial statements that collectively comprise the Account's basic financial statements. The statements listed in the table of contents as supplementary information are presented for purposes of additional analysis and are not a required part of the basic financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements. The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the statements listed in the table of contents are fairly stated, in all material respects, in relation to the basic financial statements as a whole. Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated October 31, 2022, on our consideration of the Commission's internal control over the Account's financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of Commission's internal control over financial reporting or on compliance related to the Accounts. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering Commission's internal control over the Account's financial reporting and compliance. SGT Rancho Cucamonga, California October 31, 2022 3 Proposition 1B Rehabilitation, Safety and Security Project Accounts, Accounts of the Riverside County Transportation Commission Balance Sheets June 30, 2022 and 2021 2022 2021 Assets PTMISEA PTMISEA Cash and investments in Riverside County Pooled Investment Fund $ 624,422 $ 1,254,960 Interest receivable 268 732 Total assets $ 624,690 $ 1,255.692 Liabilities and Fund Balance Liabilities Accounts payable Total liabilities Fund Balance Restricted: Rail projects Total fund balance Total liabilities and fund balance See Notes to Financial Statements. $ 46,595 $ 225,167 46,595 225,167 578,095 1,030,525 578,095 1,030,525 $ 624,690 $1,255,692 Proposition 1B Rehabilitation, Safety and Security Project Accounts, Accounts of the Riverside County Transportation Commission Statements of Revenues, Expenditures and Change in Fund Balance Years Ended June 30, 2022 and 2021 2022 2021 PTMISEA PTMISEA Revenues: Interest $ 1,425 $ 7,785 Total revenues 1,425 7,785 Expenditures: Rail 453,855 1,481,602 Net change in account fund balance Fund balance, beginning of year Fund balance, end of year $ 578,095 $ 1,030,525 (452,430) (1,473,817) 1,030,525 2,504,342 See Notes to Financial Statements. Proposition 1B Rehabilitation, Safety and Security Project Accounts, Accounts of the Riverside County Transportation Commission Notes to Financial Statements June 30, 2022 and 2021 Note 1. Nature of Operations and Summary of Significant Accounting Policies Nature of operations: On November 7, 2006, the voters of California approved the Highway Safety, Traffic Reduction, Air Quality, and Port Security Bond Act of 2006 (Proposition 1 B). Proposition 1B included a state program of funding in the amount of $4 billion and $1 billion to be deposited in the Public Transportation Modernization, Improvement, and Service Enhancement Account (PTMISEA) and Transit System Safety, Security, and Disaster Response Account (TSSSDRA), respectively. The California Transit Security Grant Program —California Transit Assistance Fund (CTSGP-CTAF) is a TSSSDRA program. The PTMISEA funds, which are administered by the California Department of Transportation (Caltrans), and the CTSGP- CTAF funds, which are administered by the California Emergency Management Agency (CalEMA), are made available to project sponsors in California for eligible public transportation projects and related security and safety projects, respectively. The Riverside County Transportation Commission (the Commission) owns and operates nine commuter rail stations and a transit center in Riverside County (the County). As a project sponsor, the Commission has applied for and obtained approval for PTMISEA and CTSGP-CTAF funds for various projects related to its commuter rail stations. These funds are accounted for in the Measure A Western County Rail and Coachella Valley Station Development Special Revenue Funds in project accounts (the Accounts). The revenue to the Accounts is derived from allocations approved by the Controller of the State of California (the Controller). The accounting policies of the Commission conform to accounting principles generally accepted in the United States of America as applicable to governmental units. A summary of the Commission's significant accounting policies is as follows: Presentation: The accompanying financial statements of the Accounts are intended to present the financial position and the changes in financial position of only that portion of the governmental activities of the Commission that is attributable to the transactions of the PTMISEA and CTSGP-CTAF Accounts of the Commission. They do not purport to, and do not, present fairly the financial position of the Commission as of June 30, 2022 and 2021 and the changes in its financial position for the years then ended, in conformity with accounting principles generally accepted in the United States of America. Basis of accounting: In accordance with the requirements for governmental funds, the modified accrual basis of accounting is followed in the PTMISEA and CTSGP-CTAF Accounts. Under the modified accrual basis of accounting, expenditures are recorded when they are expected to be liquidated with expendable available resources, and revenue is recorded when it becomes both measurable and available. "Measurable" means the amount of the transaction can be determined, and "available" means collectible within the current period, or soon enough thereafter to be used to pay liabilities of the current period. For this purpose, the Commission considers revenues to be available if they are collected within 180 days of the end of the current fiscal period. Those revenues susceptible to accrual include PTMISEA and CTSGP- CTAF allocations and interest revenue. For the years ended June 30, 2022 and 2021, the Commission did not recognize an allocation of revenues, respectively, for the Station Rehabilitation and Coachella Valley Station Development, or Station Security projects. 6 Proposition 1B Rehabilitation, Safety and Security Project Accounts, Accounts of the Riverside County Transportation Commission Notes to Financial Statements June 30, 2022 and 2021 Note 1. Nature of Operations and Summary of Significant Accounting Policies (Continued) Funding: Project sponsors may submit applications for funding of eligible transit capital projects to Caltrans or CaIEMA, which approve projects for funding related to PTMISEA and CTSGP-CTAF, respectively. PTMISEA eligible projects include rehabilitation, safety or modernization improvements; capital service enhancements or expansions; new capital projects; bus rapid transit improvements; and rolling stock procurement, rehabilitation, expansion or replacement. CTSGP-CTAF eligible projects include capital projects that provide increased protection against a security or safety threat; increase the capacity of transit operators to prepare for disaster -response transportation systems to move people, goods, emergency personnel and equipment in the aftermath of a disaster; and other allowable costs under California Government Code 16727(a). The Controller will disburse funds upon receipt of the approved PTMISEA and CTSGP-CTAF projects. Funds must be encumbered within three years of receipt and must be expended within three years of being encumbered. Cash: It is the Commission's policy to deposit all funds received in the Riverside County Pooled Investment Fund (RCPIF) for investment until the funds are required for disbursement. Interest income is earned while these funds are deposited. Fund balance restrictions: The Accounts report restricted account fund balances to show the level of constraint governing the use of the funds. Restricted account fund balances are restricted for specific purposes by third parties. Expenditures: Expenditures represent rail capital projects as identified in PTMISEA and CTSGP-CTAF applications submitted by the Commission. For the year ended June 30, 2022, the Commission incurred qualifying expenditures of $453,855 for the Coachella Valley Station Development project. For the year ended June 30, 2021, the Commission incurred qualifying expenditures $1,481,602 for the Coachella Valley Station Development project. Note 2. Cash and Investments With County Treasurer The funds in the RCPIF are pooled with those of other entities and invested in accordance with the County's investment policy. These pooled funds are carried at fair value. Investments in U.S.Treasury, federal agency, mortgage and asset -backed, municipal, corporate, negotiable certificates of deposit, and commercial paper securities are carried at fair value based on quoted market prices. Money market mutual funds are carried at fair value based on each fund's share price. The pooled funds are not subject to level 1, 2 or 3 of the fair value hierarchy prescribed by Governmental Accounting Standards Board Statement No. 72, Fair Value Measurement and Application. The Commission is a voluntary participant in the pool. An Investment Oversight Committee has been established by the County, which acts as a regulator of the pool. 7 Proposition 1B Rehabilitation, Safety and Security Project Accounts, Accounts of the Riverside County Transportation Commission Notes to Financial Statements June 30, 2022 and 2021 Note 2. Cash and Investments With County Treasurer (Continued) As of June 30, 2022 and 2021, the Account has $624,422 and $1,254,960, respectively, included in the Commission's investment with the RCPIF, with an average maturity of 434 days and 420 days, respectively. Additional information on investment types, fair value measurement and credit risk of the RCPIF may be obtained from the County of Riverside Treasurer -Tax Collector located at 4080 Lemon Street, 4th Floor, Riverside, California 92502 or by visiting the Treasurer -Tax Collector website at www.countytreasurer.org. Interest rate risk: While the Commission does not have a formal policy related to the interest rate risk of investments, the Commission's investment policy follows the California Government Code as it relates to limits on investment maturities as a means of managing exposure to fair value losses arising from increasing interest rates. Credit risk: As of June 30, 2022 and 2021 the Commission's investment in the RCPIF was rated Aaa/bf by Moody's Investors Service and AAAf/S1 by Fitch Ratings. The Commission's investment policy only requires credit quality ratings for repurchase agreements, U.S. corporate debt, commercial paper, bankers' acceptances, and certificates of deposit. 8 EideBailly CPAs & BUSINESS ADVISORS Independent Auditor's Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards Board of Commissioners Riverside County Transportation Commission Riverside, California We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States, the financial statements of the Proposition 1B Rehabilitation, Safety and Security Project Accounts (the Accounts), Accounts of the Riverside County Transportation Commission (Commission), as of and for the year ended June 30, 2022, and the related notes to the financial statements, and have issued our report thereon dated October 31, 2022. Our report included an emphasis of matter paragraph indicating that the financial statements present only the Accounts and do not purport to, and do not, present fairly the financial position of the Commission as of June 30, 2022, and the changes in its financial position for the year ended in accordance with accounting principles generally accepted in the United States of America. Report on Internal Control over Financial Reporting In planning and performing our audit of the financial statements, we considered the Commission's internal control over the Accounts' financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the Commission's internal control related to the Accounts. Accordingly, we do not express an opinion on the effectiveness of the Commission's internal control related to the Accounts. A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the Accounts' financial statements will not be prevented, or detected and corrected, on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance. Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies. Given these limitations, during our audit, we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses or significant deficiencies may exist that have not been identified. 9 What inspires you, inspires us. eidebailly.com 10681 Foothill Blvd., Ste. 300 Rancho Cucamonga, CA 91730-3831 T 909.466.4410 F 909.466.4431 EOE Report on Compliance and Other Matters As part of obtaining reasonable assurance about whether the Accounts' financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts and grant agreements, noncompliance with which could have a direct and material effect on the Accounts' financial statements. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards. Purpose of this Report The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the Commission's internal control or on compliance as it relates to the Accounts. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the Commission's internal control and compliance related to the Accounts. Accordingly, this communication is not suitable for any other purpose. SGT Rancho Cucamonga, California October 31, 2022 10 ATTACHMENT 6 Low Carbon Transit Operations Program Account, an Account of the Riverside County Transportation Commission Financial and Compliance Reports Years Ended June 30, 2022 and 2021 Contents Independent Auditor's Report 1-3 Financial Statements Balance Sheets 3 Statements of Revenues, Expenditures and Change in Fund Balance 4 Notes to Financial Statements 5-6 Independent Auditor's Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance With Government Auditing Standards 8-9 EideBailly CPAs & BUSINESS ADVISORS Independent Auditor's Report Board of Commissioners Riverside County Transportation Commission Riverside, California Report on the Audit of the Financial Statements Opinion We have audited the financial statements of the Low Carbon Transit Operations Program(LCTOP) Account, an Account of the Riverside County Transportation Commission (Commission) as of and for the years ended June 30, 2022 and 2021, and the related notes to the financial statements, as listed in the table of contents. In our opinion, the accompanying financial statements referred to above present fairly, in all material respects, the respective financial position of the LCTOP Account of the Commission as of June 30, 2022 and 2021, and the respective changes in financial position for the years then ended in accordance with accounting principles generally accepted in the United States of America. Basis for Opinion We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS) and the standards applicable to financial audits contained in Government Auditing Standards (Government Auditing Standards), issued by the Comptroller General of the United States. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the Commission and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Emphasis of Matter As discussed in Note 1 to the financial statements, the financial statements present only the LCTOP Account and do not purport to, and do not, present fairly the financial position of the Commission as of June 30, 2022 and 2021 and the changes in financial position for the years then ended, in accordance with accounting principles generally accepted in the United States of America. Our opinion is not modified with respect to this matter. 1 What inspires you, inspires us. eidebailly.com 10681 Foothill Blvd., Ste. 300 Rancho Cucamonga, CA 91730-3831 T 909.466.4410 F 909.466.4431 EOE Responsibilities of Management for the Financial Statements Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America; and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor's Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS and Government Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements. In performing an audit in accordance with GAAS and Government Auditing Standards, we: • Exercise professional judgment and maintain professional skepticism throughout the audit. • Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of Commission's internal control. Accordingly, no such opinion is expressed. • Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements. We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control —related matters that we identified during the audit. Required Supplementary Information Management has omitted the management's discussion and analysis that accounting principles generally accepted in the United States of America require to be presented to supplement the basic financial statements. Such missing information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. Our opinion on the basic financial statements is not affected by the missing information. 2 Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated October 31, 2022, on our consideration of the Commission's internal control over the LCTOP Account's financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of Commission's internal control over financial reporting or on compliance related to the LCTOP Account. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering Commission's internal control over the LCTOP Account's financial reporting and compliance. SGT Rancho Cucamonga, California October 31, 2022 3 Low Carbon Transit Operations Program Account, an Account of the Riverside County Transportation Commission Balance Sheets June 30, 2022 and 2021 2022 2021 Assets Cash and investments in Riverside County Pooled Investment Fund $ $ 1,084,311 Total assets $ $ 1,084,311 Liabilities and Fund Balance Liabilities Accounts payable $ $ 1,084,311 Total liabilities 1,084,311 Fund Balance Restricted: Rail operations Total fund balance Total liabilities and fund balance $ $ 1,084,311 See Notes to Financial Statements. Low Carbon Transit Operations Program Account, an Account of the Riverside County Transportation Commission Statements of Revenues, Expenditures and Change in Fund Balance Years Ended June 30, 2022 and 2021 2022 2021 Revenues: State allocations $ 864,540 $ Interest 670 3,009 Total revenues 865,210 3,009 Expenditures: Rail 865,210 1,084,311 Net change in fund balance (1,081,302) Fund balance, beginning of year 1,081,302 Fund balance, end of year See Notes to Financial Statements. $ $ Low Carbon Transit Operations Program Account, an Account of the Riverside County Transportation Commission Notes to Financial Statements June 30, 2022 and 2021 Note 1. Nature of Operations and Summary Significant Accounting Policies Nature of Operations: In 2014, the California Legislature established Senate Bill 862 (SB 862), Low Carbon Transit Operations Program (LCTOP), one of several programs that is part of the Transit, Affordable Housing, and Sustainable Communities Program. LCTOP was created to provide operating and capital assistance for transit agencies to reduce greenhouse gas emissions and improve mobility, with a priority on serving disadvantaged communities. For agencies whose service area includes disadvantaged communities, at least 50 percent of the total moneys received shall be expended on projects that will benefit disadvantaged communities. The accounting policies of the Riverside County Transportation Commission (Commission) conform to accounting principles generally accepted in the United States as applicable to governmental units. A summary of the Commission's significant accounting policies is as follows: Presentation: The accompanying financial statements of the LCTOP Account are intended to present the financial position and the changes in financial position of only that portion of the governmental activities of the Commission that is attributable to the transactions of the LCTOP Account of the Commission. They do not purport to, and do not, present fairly the financial position of the Commission as of June 30, 2022 and 2021 and the changes in its financial position for the years then ended, in conformity with accounting principles generally accepted in the United States of America. Basis of accounting: In accordance with the requirements for governmental funds, the modified accrual basis of accounting is followed in the LCTOP Account. Under the modified accrual basis of accounting, expenditures are recorded when they are expected to be liquidated with expendable available resources, and revenue is recorded when it becomes both measurable and available. "Measurable" means the amount of the transaction can be determined, and "available" means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. For this purpose, the Commission considers revenues to be available if they are collected within 180 days of the end of the current fiscal period. Those revenues susceptible to accrual include LCTOP Account allocations and interest revenue. For the years ended June 30, 2022 and 2021 the Commission recognized revenues related to an allocation of $864,540 and $0, respectively, for the Perris Valley Line station operations and rehabilitation. Funding: Project sponsors may submit expenditure proposals for funding of LCTOP to Caltrans and the California Air Resources Board to determine compliance with the requirements of SB 862 and the LCTOP guidelines. Caltrans submits a final list of approved expenditures to the State Controller's Office, and the approved amounts of funds will be available for release, not to exceed 75 percent of each eligible recipient's share of the full appropriation, with the remaining 25 percent available for release by fiscal year end. Cash: It is the Commission's policy to deposit all funds received in the Riverside County Pooled Investment Fund (RCPIF) for investment until the funds are required for disbursement. Interest income is earned while these funds are deposited. Fund balance restrictions: The LCTOP Account reports restricted account fund balance to show the level of constraint governing the use of the funds. Restricted account fund balances are restricted for specific purposes by third parties. Expenditures: Expenditures represent rail operations as identified in the LCTOP application submitted by the Commission. For the years ended June 30, 2022 and 2021, the Commission incurred qualifying expenditures of $865,210 and $1,084,311, respectively, for the Perris Valley Line station operations and rehabilitation. 6 Low Carbon Transit Operations Program Account, an Account of the Riverside County Transportation Commission Notes to Financial Statements June 30, 2022 and 2021 Note 2. Cash and Investments with County Treasurer The funds in the RCPIF are pooled with those of other entities and invested in accordance with the County's investment policy. These pooled funds are carried at fair value. Investments in U.S.Treasury, federal agency, mortgage and asset -backed, municipal, corporate, negotiable certificates of deposit, and commercial paper securities are carried at fair value based on quoted market prices. Money market mutual funds are carried at fair value based on each fund's share price. The pooled funds are not subject to level 1, 2 or 3 of the fair value hierarchy prescribed by Governmental Accounting Standards Board Statement No. 72, Fair Value Measurement and Application. The Commission is a voluntary participant in the pool. An Investment Oversight Committee has been established by the County, which acts as a regulator of the pool. As of June 30, 2022 and 2021, the LCTOP Account has $0 and $1,084,311, respectively, in the Commission's investment with the RCPIF, with an average maturity of 434 days and 420 days, respectively. Additional information on investment types, fair value measurement and credit risk of the RCPIF may be obtained from the County of Riverside Treasurer -Tax Collector located at 4080 Lemon Street, 4th Floor, Riverside, California 92502 or by visiting the Treasurer -Tax Collector website at www.countytreasurer.org. Interest rate risk: While the Commission does not have a formal policy related to the interest rate risk of investments, the Commission's investment policy follows the California Government Code as it relates to limits on investment maturities as a means of managing exposure to fair value losses arising from increasing interest rates. Credit risk: As of June 30, 2022 and 2021 the Commission's investment in the RCPIF was rated Aaa/bf by Moody's Investors Service and AAAf/S1 by Fitch Ratings. The Commission's investment policy only requires credit quality ratings for repurchase agreements, U.S. corporate debt, commercial paper, bankers' acceptances, and certificates of deposit. 7 EideBailly CPAs & BUSINESS ADVISORS Independent Auditor's Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards Board of Commissioners Riverside County Transportation Commission Riverside, California We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States, the financial statements of the Low Carbon Transit Operations Program (LCTOP) Account, an Account of the Riverside County Transportation Commission (Commission), as of and for the year ended June 30, 2022, and the related notes to the financial statements, and have issued our report thereon dated October 31, 2022. Our report included an emphasis of matter indicating that the financial statements present only the LCTOP Account and do not purport to, and do not, present fairly the financial position of the Commission as of June 30, 2022 and the changes in its financial position for the year then ended, in accordance with accounting principles generally accepted in the United States of America. Report on Internal Control over Financial Reporting In planning and performing our audit of the financial statements, we considered the Commission's internal control over the LCTOP Account's financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the Commission's internal control related to the LCTOP Account. Accordingly, we do not express an opinion on the effectiveness of the Commission's internal control related to the LCTOP Account. A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the LCTOP Account financial statements will not be prevented, or detected and corrected, on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance. Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies. Given these limitations, during our audit, we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses or significant deficiencies may exist that have not been identified. 8 What inspires you, inspires us. eidebailly.com 10681 Foothill Blvd., Ste. 300 Rancho Cucamonga, CA 91730-3831 T 909.466.4410 F 909.466.4431 EOE Report on Compliance and Other Matters As part of obtaining reasonable assurance about whether the LCTOP Account financial statements are free from material misstatement, we performed tests of the Commission's compliance with certain provisions of laws, regulations, contracts and grant agreements, noncompliance with which could have a direct and material effect on the LCTOP Account financial statements. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards. Purpose of this Report The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the Commission's internal control or on compliance as it relates to the LCTOP Account. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the Commission's internal control and compliance related to the LCTOP Account. Accordingly, this communication is not suitable for any other purpose. SGT Rancho Cucamonga, California October 31, 2022 9 ATTACHMENT 7 Single Audit Report Fiscal Year Ended June 30, 2022 Riverside County Transportation Commission EideBai11y eidebailly.com Riverside County Transportation Commission Table of Contents Fiscal Year Ended June 30, 2022 Independent Auditor's Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards 1 Independent Auditor's Report on Compliance for Each Major Federal Program; Report on Internal Control Over Compliance; and Report on Schedule of Expenditures of Federal Awards Required by the Uniform Guidance 3 Schedule of Expenditures of Federal Awards 6 Notes to Schedule of Expenditures of Federal Awards 7 Schedule of Findings and Questioned Costs Section I — Summary of Auditor's Results 9 Section II — Financial Statement Findings 10 Section II I — Federal Award Findings and Questioned Costs 11 Summary Schedule of Prior Audit Findings 12 EideBailly CPAs & BUSINESS ADVISORS Independent Auditor's Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards Board of Commissioners Riverside County Transportation Commission Riverside, California We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of the governmental activities, the business -type activities, each major fund, and the aggregate remaining fund information of the Riverside County Transportation Commission (Commission) as of and for the year ended June 30, 2022, and the related notes to the financial statements, which collectively comprise the Commission's basic financial statements, and have issued our report thereon dated October 31, 2022. Our report included an emphasis of matter paragraph regarding the Commission's adoption of Governmental Accounting Standards Board (GASB) Statement No. 87, Leases, for the year ended June 30, 2022. Report on Internal Control over Financial Reporting In planning and performing our audit of the financial statements, we considered the Commission's internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the Commission's internal control. Accordingly, we do not express an opinion on the effectiveness of the Commission's internal control. A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the Commission's financial statements will not be prevented, or detected and corrected, on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance. Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses or significant deficiencies may exist that have not been identified. What inspires you, inspires us. eidebailly.com 1 10681 Foothill Blvd., Ste. 300 Rancho Cucamonga, CA 91730-3831 T 909.466.4410 F 909.466.4431 EOE Report on Compliance and Other Matters As part of obtaining reasonable assurance about whether the Commission's financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the financial statements. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards. Purpose of this Report The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the Commission's internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the Commission's internal control and compliance. Accordingly, this communication is not suitable for any other purpose. .4 L71) Rancho Cucamonga, California October 31, 2022 2 EideBailly CPAs & BUSINESS ADVISORS Independent Auditor's Report on Compliance for Each Major Federal Program; Report on Internal Control Over Compliance; and Report on Schedule of Expenditures of Federal Awards Required by the Uniform Guidance Board of Commissioners Riverside County Transportation Commission Riverside, California Report on Compliance for Each Major Federal Program Opinion on Each Major Federal Program We have audited the Riverside County Transportation Commission's (Commission) compliance with the types of compliance requirements identified as subject to audit in the OMB Compliance Supplement that could have a direct and material effect on each of the Commission's major federal programs for the year ended June 30, 2022. The Commission's major federal programs are identified in the summary of auditor's results section of the accompanying schedule of findings and questioned costs. In our opinion, the Commission complied, in all material respects, with the compliance requirements referred to above that could have a direct and material effect on each of its major federal programs for the year ended June 30, 2022. Basis for Opinion on Each Major Federal Program We conducted our audit of compliance in accordance with auditing standards generally accepted in the United States of America (GAAS); the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States (Government Auditing Standards); and the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Our responsibilities under those standards and the Uniform Guidance are further described in the Auditor's Responsibilities for the Audit of Compliance section of our report. We are required to be independent of the Commission and to meet our other ethical responsibilities, in accordance with relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion on compliance for each major federal program. Our audit does not provide a legal determination of the Commission's compliance with the compliance requirements referred to above. Responsibilities of Management for Compliance Management is responsible for compliance with the requirements referred to above and for the design, implementation, and maintenance of effective internal control over compliance with the requirements of laws, statutes, regulations, rules and provisions of contracts or grant agreements applicable to the Commission's federal programs. What inspires you, inspires us. eidebailly.com 3 10681 Foothill Blvd., Ste. 300 Rancho Cucamonga, CA 91730-3831 T 909.466.4410 F 909.466.4431 EOE Auditor's Responsibilities for the Audit of Compliance Our objectives are to obtain reasonable assurance about whether material noncompliance with the compliance requirements referred to above occurred, whether due to fraud or error, and express an opinion on the Commission's compliance based on our audit. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS, Government Auditing Standards, and the Uniform Guidance will always detect material noncompliance when it exists. The risk of not detecting material noncompliance resulting from fraud is higher than for that resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Noncompliance with the compliance requirements referred to above is considered material, if there is a substantial likelihood that, individually or in the aggregate, it would influence the judgment made by a reasonable user of the report on compliance about the Commission's compliance with the requirements of each major federal program as a whole. In performing an audit in accordance with GAAS, Government Auditing Standards, and the Uniform Guidance, we: • Exercise professional judgment and maintain professional skepticism throughout the audit. • Identify and assess the risks of material noncompliance, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the Commission 's compliance with the compliance requirements referred to above and performing such other procedures as we considered necessary in the circumstances. • Obtain an understanding of the Commission's internal control over compliance relevant to the audit in order to design audit procedures that are appropriate in the circumstances and to test and report on internal control over compliance in accordance with the Uniform Guidance, but not for the purpose of expressing an opinion on the effectiveness of the Commission's internal control over compliance. Accordingly, no such opinion is expressed. We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and any significant deficiencies and material weaknesses in internal control over compliance that we identified during the audit. Report on Internal Control over Compliance A deficiency in internal control over compliance exists when the design or operation of a control over compliance does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, noncompliance with a type of compliance requirement of a federal program on a timely basis. A material weakness in internal control over compliance is a deficiency, or combination of deficiencies, in internal control over compliance, such that there is a reasonable possibility that material noncompliance with a type of compliance requirement of a federal program will not be prevented, or detected and corrected, on a timely basis. A significant deficiency in internal control over compliance is a deficiency, or a combination of deficiencies, in internal control over compliance with a type of compliance requirement of a federal program that is less severe than a material weakness in internal control over compliance, yet important enough to merit attention by those charged with governance. 4 Our consideration of internal control over compliance was for the limited purpose described in the Auditor's Responsibilities for the Audit of Compliance section above and was not designed to identify all deficiencies in internal control over compliance that might be material weaknesses or significant deficiencies in internal control over compliance. Given these limitations, during our audit we did not identify any deficiencies in internal control over compliance that we consider to be material weaknesses, as defined above. However, material weaknesses or significant deficiencies in internal control over compliance may exist that were not identified. Our audit was not designed for the purpose of expressing an opinion on the effectiveness of internal control over compliance. Accordingly, no such opinion is expressed. The purpose of this report on internal control over compliance is solely to describe the scope of our testing of internal control over compliance and the results of that testing based on the requirements of the Uniform Guidance. Accordingly, this report is not suitable for any other purpose. Report on Schedule of Expenditures of Federal Awards Required by the Uniform Guidance We have audited the financial statements of the governmental activities, the business -type activities, each major fund and the aggregate remaining fund information of the Commission as of and for the year ended June 30, 2022, and the related notes to the financial statements, which collectively comprise the Commission's basic financial statements. We issued our report thereon dated October 31, 2022, which contained unmodified opinions on those financial statements. Our report included an emphasis of matter paragraph regarding the Commission's adoption of Governmental Accounting Standards Board (GASB) Statement No. 87, Leases, for the year ended June 30, 2022. Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the basic financial statements. The accompanying schedule of expenditures of federal awards is presented for purposes of additional analysis as required by the Uniform Guidance and is not a required part of the basic financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements. This information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the schedule of expenditures of federal awards is fairly stated in all material respects in relation to the basic financial statements as a whole. SGT Rancho Cucamonga, California October 31, 2022 5 Riverside County Transportation Commission Schedule of Expenditures of Federal Awards Fiscal Year Ended June 30, 2022 Federal Financial Federal Agency Assistance Direct or Passed Direct or Pass -Through Agency Listing/CFDA Pass -Through Entity Through to Federal CFDA Program Title or Cluster Number Identifying Number Subrecipients Expenditures U.S. Department of Transportation Passed through California Department of Transportation: Highway Planning and Construction Cluster: Highway Planning and Construction - SR60 Truck Lanes 20.205 CMLN-6054(090) $ - $ 13,954,833 Highway Planning and Construction - 115ELP Southern Extension 20.205 CMLN-6054(094) 2,388,663 Highway Planning and Construction - Pachappa Overcrossing 20.205 FERPLN16-6054(082) - 39,203 Highway Planning and Construction - 115 Smart Freeways 20.205 CMLN 6054(103) - 1,592,800 Highway Planning and Construction - SR91 Corridor Operations Project 20.205 STPLN-6054(098) - 9,696,086 Highway Planning and Construction - Mid County Parkway Phase 2 ROW 20.205 STBGSB1L 6054(101) - 68,338 Highway Planning and Construction - SR71/91 Connectors 20.205 HPLU21LN-6054(066) 914,546 Total Highway Planning and Construction Cluster 28,654,469 Direct: Transportation Infrastructure Finance and Innovation Act (TIFIA) Program: TIFIA I-15 Express Lanes Project 20.223 TIFIA-2017-1011A - 152,214,260 TIFIA 91 Project 20.223 TIFIA-2012-1006A 421,054,409 Total TIFIA Program - 573,268,669 Direct: Federal Transit Cluster: Federal Transit Capital Investment Grant: Commuter Rail 5 Year Rehab 5309 20.500 CA -05-0268-00 672 1,131,993 Commuter Rail Rehab Final 5309 20.500 CA -05-0283-00 32,876 43,500 Transit Oriented Communities Strategic Plan 20.500 CA -2021-132-00 - 313,409 Federal Transit Urbanized Area Formula Grant: CMAQ Funds for Perris Valley Line Operations 20.507 CA -95-X339-00 - 611,811 Commuter Rail Pax Upgrades 5307 20.507 CA -90-Z234-00 17,391 2,932,233 Moreno Valley/March Field Station Rail Rehab 20.507 CA -2017-112-00 1,331,550 1,616,588 COVID-19 - CARES Act: Rail Stations Operating Assistance 5307 20.507 CA -2020-231-00 - 1,166,433 COVID-19 - CARES Act: Vanpool Operating Assistance 5307 20.507 CA -2020-274-00 - 166,211 Commuter Rail Rehabilitation and Maintenance 20.507 CA -2021-131-00 1,266,071 State of Good Repair Grants Program: Rail State of Good Repair 5337 20.525 CA -05-0033-00 253,765 2,924,308 Commuter Rail 5 Year Rehab 5309 20.525 CA -2017-121-00 937,345 3,481,269 2020 Commuter Rail State of Good Repair 5337 20.525 CA -2020-261-00 36,433 455,903 Total Federal Transit Cluster 2,610,032 16,109,729 Total Expenditures of Federal Awards $ 2,610,032 $ 618,032,867 See Notes to Schedule of Expenditures of Federal Awards 6 Riverside County Transportation Commission Notes to Schedule of Expenditures of Federal Awards Fiscal Year Ended June 30, 2022 Note 1- Basis of Presentation The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of the Riverside County Transportation Commission (Commission) under programs of the federal government for the year ended June 30, 2022. The information in this Schedule is presented in accordance with the requirements of Title 2 Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Commission, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Commission. Note 2 - Summary of Significant Accounting Policies Expenditures of governmental funds reported on the Schedule are reported on the modified accrual basis of accounting. Expenses of enterprise funds are reported on the accrual basis of accounting. Such expenditures/expenses are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures/expenses are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures/expenses in the prior years. Note 3 - Direct and Indirect (Pass -Through) Federal Awards Federal awards may be granted directly to the Commission by a federal granting agency or may be granted to other government agencies which pass -through federal awards to the Commission. The Schedule includes both of these types of Federal award programs when they occur. Note 4 - Transportation Infrastructure Finance and Innovation Act (TIFIA) Program Loans In July 2013 and July 2017, the Commission executed TIFIA loan agreements with the United States Department of Transportation in an amount not to exceed $421,054,409 and $152,214,260, respectively, to finance portions of the Commission's 91 Project and 1-15 Express Lanes Project. The TIFIA loans are evidenced by toll revenue bonds of the Commission issued pursuant to the master indentures and supplemental indentures. During construction and for a period of to five years following substantial completion, interest is compounded and added to each respective initial TIFIA loan. The TIFIA loans require mandatory debt service payments at a minimum and scheduled debt service payments to the extent additional funds are available. TIFIA debt service payments related to the 91 Project and 1-15 Express Lanes Project are expected to commence on December 1, 2021, and December 1, 2025, respectively, which is five years after substantial completion of the 91 Project and the 1-15 Express Lanes Project, through June 1, 2051 and June 1, 2055, respectively. The interest rate of each TIFIA loan was 3.47% and 2.84%, respectively. During the fiscal year ended June 30, 2022, the Commission issued 2021 Toll Revenue Refunding Bond which were used to prepay the TIFIA loan obligation related to the 91 Project of $509,798,157, and other debt obligations. There were $4,325,708 of 1-15 Express Lanes Project TIFIA loan proceeds expended during the fiscal year ended June 30, 2022, and the outstanding loan payable at June 30, 2022 is $162,385,853 (which includes accreted interest). 7 Riverside County Transportation Commission Notes to Schedule of Expenditures of Federal Awards Fiscal Year Ended June 30, 2022 Note 5 - Indirect Cost Rate The Commission has not elected to use the 10 -percent de minimis indirect cost rate allowed under the Uniform Guidance. 8 Riverside County Transportation Commission Schedule of Findings and Questioned Costs Fiscal Year Ended June 30, 2022 Section I — Summary of Auditor's Results FINANCIAL STATEMENTS Type of auditor's report issued Unmodified Internal control over financial reporting: Material weaknesses identified No Significant deficiencies identified not considered to be material weaknesses None reported Noncompliance material to financial statements noted? No FEDERAL AWARDS Internal control over major federal programs: Material weaknesses identified No Significant deficiencies identified not considered to be material weaknesses None reported Type of auditor's report issued on compliance for major federal programs: Unmodified Any audit findings disclosed that are required to be reported in accordance with 2 CFR 200.516: No Identification of major federal programs: Name of Major Federal Program/Cluster Federal Financial Assistance Listing/ CFDA Number Highway Planning and Construction Cluster 20.205 Transportation Infrastructure Finance and Innovation Act (TIFIA) Program Federal Transit Cluster Dollar threshold used to distinguish between type A and type B programs: 20.223 20.500, 20.507, 20.525 $1,342,926 Auditee qualified as low -risk auditee? Yes 9 Riverside County Transportation Commission Schedule of Findings and Questioned Costs Fiscal Year Ended June 30, 2022 Section II — Financial Statement Findings None identified. 10 Riverside County Transportation Commission Schedule of Findings and Questioned Costs Fiscal Year Ended June 30, 2022 Section III — Federal Award Findings and Questioned Costs None identified. 11 Riverside County Transportation Commission Summary Schedule of Prior Audit Findings Fiscal Year Ended June 30, 2022 None identified. 12 ATTACHMENT 8 itt4 Express i Lanes RCTC 91 Express Lanes Fund (Enterprise Fund of the Riverside County Transportation Commission) Financial Statements For the Year Ended June 30, 2022 RIVERSIDE COUNTY TRANSPORTATION COMMISSION RCTC 91 Express Lanes Fund (Enterprise Fund of the Riverside County Transportation Commission) Financial Statements For the Year Ended June 30, 2022 Contents Independent Auditor's Report Management's Discussion and Analysis 1 4 Financial Statements Statement of Net Position 9 Statement of Revenues, Expenses and Change in Fund Net Position 10 Statement of Cash Flows 11 Notes to Financial Statements 13 EideBailly CPAs & BUSINESS ADVISORS Independent Auditor's Report Board of Commissioners Riverside County Transportation Commission Riverside, California Report on the Audit of the Financial Statements Opinion We have audited the financial statements of the RCTC 91 Express Lanes Fund (the Fund), an enterprise fund of the Riverside County Transportation Commission (the Commission) as of and for the year ended June 30, 2022, and the related notes to the financial statements, as listed in the table of contents. In our opinion, the accompanying financial statements referred to above present fairly, in all material respects, the financial position of the RCTC 91 Express Lanes Fund of the Commission, as of June 30, 2022, and the changes in financial position and cash flows thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America. Basis for Opinion We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the Commission and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Adoption of New Accounting Standard As discussed in Note 9 to the financial statements, the Commission has adopted the provisions of Government Accounting Standards Board (GASB) Statement No. 87, Leases, for the year ended June 30, 2022. Accordingly, a restatement has been made to the Fund's net position as of July 1, 2021, to restate beginning net position. Our opinion is not modified with respect to this matter. Emphasis of Matter As discussed in Note 1, the financial statements present only the RCTC 91 Express Lanes Fund and do not purport to, and do not, present fairly the financial position of the Commission as of June 30, 2022, the changes in its financial position, or, where applicable, its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America. Our opinion is not modified with respect to this matter. What inspires you, inspires us. eidebailly.com 10681 Foothill Blvd., Ste. 300 Rancho Cucamonga, CA 91730-3831 T 909.466.4410 F 909.466.4431 EOE Responsibilities of Management for the Financial Statements Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America; and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor's Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements. In performing an audit in accordance with GAAS, we: • Exercise professional judgment and maintain professional skepticism throughout the audit. • Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Commission's internal control. Accordingly, no such opinion is expressed. • Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements. We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control —related matters that we identified during the audit. Required Supplementary Information Accounting principles generally accepted in the United States of America require that management's discussion and analysis, as listed in the table of contents, be presented to supplement the basic financial statements. Such information is the responsibility of management and, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United 2 States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. Rancho Cucamonga, California October 31, 2022 3 RCTC 91 Express Lanes Fund Management Discussion and Analysis For the Year Ended June 30, 2022 As rmenagerrent of the ROTC 91 Express Lanes Fund (the Fund), an enterprise fund of the Riverside County Transportation Commission, we offer readers of the Fund financial statements this narrative overview and analysis of the Fund's financial activities for the fiscal year ended June 30, 2022. VVe encourage readers to consider information on financial performance presented in conjunction with the finandal statements that begin on page 8. Financial Highlights • At the end of fiscal year (FY) 2021/22, the total net position (deficit) of the Fund was ($290,512,183) and consisted of net investment (deficit) in capital assets of ($387,552,790) and restricted net position of $97,040,607. • Net position (deficit) of ($290,512,183) during FY 2021/22 reflects the position after the fifth full year of toll operations. Specifically, the net position deficit increased $5,050,031 largely due to one-time non -operating losses resulting from the prepayment of the Transportation Innovation Finance and Infrastructure Act (TIFIA) loan and partially paying off the 2013 Toll Revenue Bonds in October 2021. The eight -mile stretch between Interstate (I) 15 and the Crange/Riverside County line and a tolled direct connector reached substantial completion and opened to motorists on March 20, 2017. • During FY 2021/22, operating income for the Fund totaled $37,911,058. Positive operating income was due to operating revenues of $65,119,434 which indude toll, vitiation penalty, and account fee revenues along with Orange County Transportation Authority (CCTA) reimbursements. Total operating expenses of $27,208,376 indude roadway and toll systems maintenance, customer service, back -office operations, other support costs, and depredation and amortization. Overview of the Financial Statements This discussion and analysis is intended to serve as an introduction to the Fund's financial statements. The financial statements are comprised of the Fund finandal statements and notes to the financial statements. The statement of net position presents information on all of the Fund's assets, liabilities, and deferred outflows/inflows of resources, with the difference reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the Fund is improving or deteriorating. The statement of revenues, expen scs and changes in fund net position presents information showing how the Fund's net position changed during the fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change cocairs, regardless of the timing of related cash flows. Thus, revenues and expen:co are reported for some items that will only result in cash flows in future fiscal periods. The statement of cash flows presents information on the cash flows related to operating, noncapital financing, capital and related financing, and investing activities. The Fund financial statements �n be found on pages 8-11 of this report. Notes to the financial statements provide additional information that is essential to a full understanding of the data provided in the financial statements. The notes to the financial statements can be found on pages 12-26 of this report. 4 RCTC 91 Express Lanes Fund Management Discussion and Analysis For the Year Ended June 30, 2022 91 Express Lanes Financial Analysis As noted previously, net position rray serve over time as a useful indicator of the Fund's financial position. At June 30, 2022, the Fund's net position reflected a deficit of $290,512,183. Our analysis belowfocus on net position and changes in net position of the Fund's financial activities. RCTC 91 Express Lanes Fund Net Position 2022 2021 Current and other assets $ 97,713,096 $ 83,994,079 Restricted assets 96,659,743 88,696,432 Capital asets, net 246,296,153 262,716,411 Total assets 440,668,992 435,406,955 Deferred outflows of resources Total assets and deferred outflows of resources 15,575,869 579,674 456, 244,861 435,986, 629 Current liabilities 15,522,016 11,173,191 Long-term liabilities 730,832,526 709,830,638 Total liabilities 746,354,542 721,003,829 Deferred inflows of resources Total liabilities and deferred inflows of resources 402,502 444,952 746,757,0'l -1 721,448,781 Net position Net in'estrnent in capital assets (387,552,790) (73,137,341) Restricted 97,040,607 47,675,189 Total net position (deficit) $ (290,512,183) $ (285,462,152) FY 2021/22 represents the fifth full year of toll operations for the Fund. Total assets and deferred outflows of resources increased $20,258,232, or 5%, due primarily to increases in cash and investments related to operations and the deferred outflows of resources loss on refunding related to the 2021 Toll Revenue Refunding Bonds issued in October 2021 to partially pay the 2013 Toll Revenue Bonds and prepayment of the 11FIA loan with the issuance of the 2021 Toll Revenue Refunding Bonds. Total liabilities and deferred inflows of resources increased $25,308,263 or 4%, primarily due to incroascs in toll supported long-term debt related to the partial refunding of the 2013 Toll Revenue Bonds and prepayment of the 11FIA loan with the issuance of the 2021 Toll Revenue Refunding Bonds in October 2021. The Fund's net investment in capital assets reflects a deficit of $387,552,790 and represents (133%) of the total net position (deficit) in FY 2021/22. The Fund's net position reflects its investment in capital assets (i.e., land and land improvements; buildings; toll infrastructure; equipment, fumiture, and fixtures; transponders; and toll facility franchise), less any related outstanding debt used to acquire these assets. The Fund u,,cs these capital assets, which include intangible assets, to provide improved mobility for the Fund customers and corrrruters along the State Route (SR) -91 corridor. Restricted net position, representing resources subject to external restrictions on how they may be used, was $97,040,607 and represents 33% of the total net position at June 30, 2022. The analysis below focuscs on the changes in net position. 5 RCTC 91 Express Lanes Fund Management Discussion and Analysis For the Year Ended June 30, 2022 RCTC 91 Er s Lanes Fund Changes in Net Position 2022 2021 Operating revenues Toll, penalties, and fees Total operating revenues Operating expenses Management and operational services Pdmi ni strative overhead Other operating expenses Professional services General and administrative Depreciation and amortization Total operating expenses Operating income Nonoperati ng revenues (expen cs) Investment income (loss) Interest expense Cost of i ssi iance Loss on refunding Gain (lcss) on sale of capital assets Total nonoperating revenues (expen ) Income before transfers Transfers from (to) the Commission, net Change in net position Total net position at beginning of war (deficit) Total net position at end of year (deficit) $ 65,119,434 $ 46,302,018 65,119,434 10,471,038 1,127,200 4,140,069 1,751,986 4,323 9,713,760 27,208,376 37,911,058 (3,022,688) (24,395,855) (3,783,480) (6,733,662) (7,341,950) 46,302,018 10,527,308 875,400 2,176,684 1,349,767 874,718 10,768,067 26,571,941 19,730,074 323,792 (29,739,388) 1,100,189 (45,277,635) (28,315,407) (7,366,577) (8.585,333) 2,316,546 (611,763) (5,050,031) (9,230,096) (285,462,152) (276,232,056) $ (290,512,183) $ (285,462,152) The Fund's total operating revenues increased $18,817,416, or 41%, due to decreased traffic volumes in the prior fiscal year resulting from the COVID-19 pandemic impacts. During FY 2021/22 periodic toll rate changes were made based on changes in traffic volumes according to the approved toll policy. Total operating experkes increased $636,432, or 2%, due to increases in various operations costs and remains relatively flat from the prior fiscal year. Nonoperating expenscs (net of nonoperating revenues) increased $16,962,228, or 60%, primarily due to increa, in toll supported long-term debt related to the partial refunding of the 2013 Toll Revenue Bonds and prepayment of the 11FIA loan with the issuance of the 2021 Toll Revenue Refunding Bonds, investment Icss, and a loss on the sale of exr ss land purchased for the 91 Project. Net transfers to the Commission increased by $2,961,309 as a result of an increase in the retum of surplus funds previously transferred to fund the 91 Corridor Operations project, offset by the transfer of cost of issuance reimbursements related to the issuance of the 2021 Toll Revenue Refunding Bonds. Total traffic volume on the ROTC 91 Express Lanes Fund during FY 2021/22 was approx rtEilely 16,779,000 trips compared to 13,026,000 trips in FY 2020/21. 6 RCTC 91 Express Lanes Fund Management Discussion and Analysis For the Year Ended June 30, 2022 Capital Assets AS of June 30, 2022, the Fund had $246,296,153, net of amimulated depredation and amortization, invested in a broad range of capital assets induding: land and land improvements; construction easements; construction in progress; buildings; toll infrastructure comprised of communication equipment and computer hardware and software; equipment, furniture, and fixtures; tdl facility franchise; leased assets, and transponders. The decrease of $16,420,291, or 6%, was due to the sale of excess land and the depredation and amortization of the Fund's toll infrastructure, toll facility franchise, and other capital assets, offset by the increase in construction in progress and right to use lease assets. RCTC 91 Express Lanes Fund Capital Assets, Net of Depreciation and Amortization 2022 2021 Capital assets not being depreciated: Land and land improements $ 11,431,881 $ 25,049,606 Construction easements 206,307 Construction in progress 4,614,768 Capital assets being depreciated and amorliz;d: Toll infrastructure 4,436,388 4,766,012 Toll facilityfranchise 224,735,103 229,757,117 Transponders 9,888 87,888 De' elopment in progress 2,417,207 Buildings 514,764 626,521 Equipment, furniture, and fixtures 16,231 12,093 Right to use lease assets being amortized: Buildings 330,823 Total capital assets, net $ 246,296,153 $ 262,716,41`141 More detailed information about the Fund's capital assets is presented in note 4 to the financial statements. Debt Administration As of June 30, 2022, the Fund had $733,034,464 outstanding in toll revenue bonds. The increase of $19,480,153, or 3%, is due to the increases in tdl supported long-term debt related to the partial refunding of the 2013 TdI Revenue Bonds and prepayment of the T1FIA loan with the issuance of the 2021 TdI Revenue Refunding Bonds, induding the compounded and accreted interest on the toll -supported long-term debt, including premium RCTC 91 Express Lanes Fund Outstanding Debt 2022 2021 Toll re\,enue bonds $ 733,034,464 $ 210,216,120 TIFIAIoan - 503,338,191 Total outstanding debt $ 733,034,464 $ 713,554,311 7 RCTC 91 Express Lanes Fund Management Discussion and Analysis For the Year Ended June 30, 2022 Additional information on long-term debt can be found in note 6 to the finandal statements. Economic and Other Factors The Fund makes up $64,157,000 or 8% of Commission's FY 2022/23 revenue budget. In FY 2022/23, till and non - toll revenues are forecasted to increase by 51 % over the FY 2021/22 budget. This increase is based on estii i rated till transactions and current traffic and revenue data resulting from the recovery from the COM D-19 pandemic. The RCTC 91 Express Lanes have exceeded initial financing expectations, and the Commission's traffic consultant updated the investment grade and traffic and revenue study in December 2018. The average projected long-term rate of growth for till road revenues beyond FY 2022/23 is 4.6%. The majority of expenses related to the Fund within FY 2022/23 budget are on -going general costs related to day-to- day operations of the till facility. AS a fully electronic till fadlity, motorists pay tills through the convenient use of FasTrak®transponders that automatically deduct toll charges from a prepaid account. Under a cooperative agreement entered into with OCTA in December 2011, the ROTC 91 Express Lanes are jointly operated with the OCTA 91 Express Lanes and collectively referred to as the 91 Express Lanes. The Commission and OCTA agreed on the use of the same initial operator, cost and revenue sharing, toll pdides, business rules, interoperability of technology, and shared marketing activities. The joint operation allows for the sharing of costs and a seamless customer experience. Contacting 91 Express Lane's Management This financial report is designed to provide a general overview of the Fund's finances for all those with an interest in the government's finances and to demonstrate the Fund's accountability for the money it receives. Questions conceming any of the information provide in this report or requests for additional information should be addressed to the Chief Financial Officer, Finance Department at the Riverside County Transportation Commission, 4080 Lemon Street, 3rd Floor, P.O. Box 12008, Riverside, CA 92502-2208. 8 RCTC 91 Express Lanes Fund (Enterprise Fund of the Riverside County Transportation Commrission) Statement of Net Position June 30, 2022 Assets Current a'm'ts: Cash and investments $ 91,652,700 Receivables Pccounts 2,424,538 Inter l 302,067 Violations 43,866 Due from other Commission funds 2,547,235 Prepaid expend 157,793 Total current a_s�ts 97,128,199 Noncurrent assets: Restricted cash and in estrnents 96,659,743 Net pension asset 415,964 Net other post-employnent benefits assets 168,933 Capital acts, net Nondepneciable 16,252,956 Depreciable and amortizable 229,712,374 Right to use leasp. asset 330,823 Total noncurrent mats 343,540,793 Total acts 440,668,992 Deferred outflows of resources Pension benefits 719,294 Other post-employnent benefits 71,886 I rxss on refunding bonds 14,784,6R9 Total a-r�ts and deferred outflows of resources 456,244,861 Liabilities Current liabilities: Pccounts payable 10,619,';.'33 Interest payable 1,851,551 Due to other Commission funds 427,701 Other liabilities 537 Compensated absences liability 41,117 Lease payable 44,402 Bonds payable - due within one year 2,537,375 Total current liabilities 15,522,016 Noncurrent liabilities: Compensated absences liability 44,261 Lease payable 291,176 Bonds payable - due in r r lute than one year 730,497,089 Total noncurrent liabilities 730,832,526 Total liabilities 746,354,542 Defei i er1 inflows of resources Pension benefits Other post -employment benefits Total liabilities and deferred inflows of resources Net position Net investment (deficit) in capital amts Restricted for exprc:a_, lanes Total net position (deficit) See notes to financial statements 9 290,663 111,839 746,757,044 (387,552,790) 97,040,607 $ (290,512,183) RCTC 91 Express Lanes Fund (Enterprise Fund of the Riverside County Transportation Commission) Statement of Revenues, Expenses and Change in Fund Net Position For the Year Ended June 30, 2022 Operating re\enues Tolls, penalties, and fees $ 65,119,434 Operating expensPs Management and operational services 10,471,038 Admi nistrati\de o'erhead 1,127,200 Other operating expenses 4,140,069 Professional services 1,751,986 General and administratihe experk,cs 4,323 Depreciation and amortization 9,713,760 Total operating expen,cs 27,208,376 Operating income 37,911,058 Nonoperating revenues (expen,c:s) !mesh -rent income (loss) (3,022,688) Interest expense (24,395,855) Cost of isq lance (3,783,480) Lass on refunding (6,733,662) Gain (loss) on sale of capital assets (7,341,950) Total nonoperating revenues (expenses) (45,277,635) Income before transfers (7,366,577) Transfers Transfers in from Commission gmemment funds 2,547,235 Transfers out to Commission enterprise funds (230,689) Total transfers 2,316,546 Change in net position (5,050,031) Net position (deficit) at beginning of year (285,462,152) Net position (deficit) at end of year $ (290,512,183) See notes to financial statements 10 RCTC 91 Express Lanes Fund (Enterprise Fund of the Riverside County Transportation Commission) Statement of Cash Flows For the Year Ended June 30, 2022 Cash flows from operating activities Receipts from customers and users $ 62,741,773 Payments to vendors (12,923,546) Payments to empl oyccs (840,113) Payments for RCTC interfund services used (979,800) Payments for shared costs (665,945) Net cash provided byoperating activities 47,332,369 Cash flows from capital and related financing activities principal payment on long-term debt (635,248,737) Cash defeasance on long-term debt (28,918,779) Interest paid on long-term debt (13,998,974) Loss on refunding (6,733,622) Proceeds from the issuance of long-term debt 655,437,555 Debt issuance costs (927,067) Pcquisition of capital a'ts (2,504,722) Proceeds from sale of capital assets 6,623,248 Net cash used for capital and related financing activities (26,271,098) Cash flows from investing activities Interest Net cash provided byinvest ng activities (685,106) (685,106) Net increase in cash and cash equivalents 20,376,165 Cash and cash equivalents at beginning of year 169,656,613 Cash and cash equivalents at end of year $ 190,032,778 Reconciliation of cash and cash equivalents to statement of net position Cash and investments $ 91,652,700 Pdd: fair value adjustment 1,720,335 Restricted cash and investments 93,373,035 96,659,743 Total cash and cash equivalents $ 190,032,778 See notes to financial statenents 11 RCTC 91 Express Lanes Fund (Enterprise Fund of the Riverside County Transportation Commission) Statement of Cash Flows, Continued For the Year Ended June 30, 2022 Reconciliation of operating income to net cash prodded by (used for) operating activities Operating income $ 37,911,058 Pdjush i iCnts to reconcile operating income to net cash prodded by (used for) operating activities Depreciation and amortization expense 9,713,760 Change in assets and liabilities (Increase) Decrease in violations receivables (43,866) (Increase) r1errease in other receivables, net (759,819) (Increase) Decrease in due from other Commission funds (2,547,235) (Increase) reerrease in prepaid aas,=ts 30,934 Increase (Decrease) in pension and post-ernployrnent benefit ari-c ts, net of deferred items (823,615) Increase (rerrease) in accounts payable 4,360,688 Increase (r]ec-rease) in due to other Commission funds (490,907) Increase (r>Prrease) in compensated absences liability (18,629) Total adj ush r i nts 9,421,311 Net cash provided byoperating activities $ 47,332,369 Noncash capital, financing and investing activities Pt r x,rlicdtion of bond discount $ 1,R-5,227 A r rc,r Uzation of bond premium 1,599,956 Amor Uation of Ic-ss on bond refunding (390,058) Accreted and compounded interrat 4,279,344 Net decrease in the fair value of i n estrnents (1,736,437) .See notes to financial statements 12 RCTC 91 Express Lanes Fund Notes to Financial Statements June 30, 2022 Note 1. Reporti • Enti After more than a decade of vvork, Mich includes approxirrErlely three years of construction, the Riverside County Transportation Commission (Commission) achieved substantial completion on the SR -91 Corridor Improvement (91 Project) on March 20, 2017, induding express lane and general-purpose lane improvements. In achieving substantial completion, the ROTC 91 Express Lanes opened to traffic and tilling commenced. The ROTC 91 Express Lanes cover an eight -mile stretch on SR -91 between 1-15 and the Orange/Riverside County line and a tilled direct connector. The ROTC 91 Express Lanes Fund (Fund) is reported as a major enterprise fund in the Cor rrission's basic financial statements. The accompanying financial statements present the net position, changes in net position, and rash flows of the Fund only. They do not purport to, and do not, prcscnt the overall financial position of the Commission or its changes in net position as of June 30, 2022. The accounting polities of the Fund are in conformity with generally accepted accounting principles applicable to govemmental units. The Governmental Accounting Standards Board (GASB) is the accepted standard -setting body for establishing accounting and financial reporting principles. Basis of Accounting: The financial statements of the Fund are reported using the eoononic resources measurement focus and the accrual hasis of accounting. Revenues consisting substantially of tolls and fees, are recorded when earned, and expenses are recorded Wien a liability is incurred, regardless of the timing of related cash flows. Toll revenue is recognized when the customers utilize the till road facility and payment is collected. Enterprise funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and expel -Lies generally result from providing services in connection with an enterprise fund's principal and ongoing operations. The principal operating revenues of the Fund are charges to customers for use of the toll facility. Operating expenses for the Fund include the cost of services, administrative expenses, and depredation and amortization on capital and intangible assets. All revenues and expenses not meeting this definition are reported as nonoperating revenues and expenses. Violations: Violations consist of uncollected vitiation tolls and penalties. Unpaid vitiations of $59,410,312 as of June 30, 2022 are not recognized as revenue until payment is received. If vitiations and penalties remain owed for more than 90 days, they are turned over to the collection agency. Unpaid violations remain recorded for a period of four years in accordance with the statute of limitations, at which time, they will be deemed unoollec tible. Cash and investments: The Commission maintains cash and investments in accordance with the Investment Policy adopted by the Board of Commissioners in December 2021. The Investrrent Policy complies with the California Government Code (Code). Investments of bond proceeds as permitted by the applicable debt documents are maintained with U.S. Bank as trustee. Separate investment accounts are maintained for the proceeds of bond issues, with the earnings for each bond issue accounted for separately. The Fund participates in the Riverside County Pooled Investrrent Fund (RCPIF). Cash from other Commission revenue sources is commingled for investment purposes in the RCPIF, with investment eamings allocated to the different accounts based on average daily account balances. The Commission holds investments that are measured at fair value on a recurring basis. Investments in U.S. Treasury obligations, U.S. agency securities, corporate notes, mortgage and asset -backed securities, and munidpal bonds are carried at fair value based on quoted market prices, except for money market investments, which are carried at amortized cost which approximates fair value. The RCPIF is carried at fair value based on the value of each participating dollar as provided by RCPIF. 13 ROTC 91 Express Lanes Fund Notes to Financial Statements June 30, 2022 Cash and cash equivalents: For the purpose of the statement of cash flows, the Commission considers all short-term investments with an initial maturity of three months or less to be cash equivalents. AI deposits, commercial paper notes, money market funds, negotiable certificates of deposit, and the Fund's share of the RCPIF represent rash and cash equivalents for cash flow purposes. Restricted cash and investments: Investments set aside in the Senior Lien Cbligations Reserve Fund, Senior Lien Capitalized Interest Fund, Senior Lien Prindpal Fund, Senior Lien Interest Fund, Second Lien Obligation Reserve Fund, Repair and Rehabilitation Fund, and Toll Revenue Fund are pursuant to the terms of the 2013 Indenture, as amended by the fourth Supplemental Indenture and its use is Iirrited by applicable debt terms and conditions. Permitted investments per the debt indentures include government obligations, State of Califomia and local agency obligations, banker's aoceptanoes, commmerdal paper notes, negotiable certificates of deposit, repurchase agreements, money market funds, other mutual funds, investment agreerrents, RCPIF, and variable and floating rate securities. Receivables: Accounts receivables include amounts due from other Califomia toll road agencies related to their customers' use of the RCTC 91 Express Lanes, as wel I as amounts owed from the Orange County Transportation Authority (OCTA) in accordance with a cooperative agreement. Capital assets: Capital assets include land and land improvements; construction easements; construction in progress; toll infrastructure; buildings; equipment, fumiture, and fixtures; leased assets, toll facility franchise; and transponders. Capital assets are defined by the Fund as assets with an initial, individual cost of more than $5,000 and a useful life in excess of three years. It is also the Fund's policy to capitalize transponder purchases, as they are considered a significant class of assets even though individually under $5,000. Such assets are recorded at historical cost. The costs of normal maintenance and repairs that do not add value to the asset or materially extend asset lives are not capitalized. Capital assets are depredated using the straight-line method over the following estimated useful lives: Asset Type Useful Life Buildings 10 years Equipment, fumiture and fixtures 3 to 5 years Temporary construction easements 1 to 3 years Toll facility franchise 50 years Toll infrastructure 5 to 10 years Transponders 5 years In May 2012 the Commission entered into a toll facility agreement with Califomia's Department of Transportation (Caltrans) and obtained authority to toll the SR -91 from the Orange County/Riverside County line to 1-15 for 50 years commenting as of the first day on which the RCTC 91 Express Lanes open for public i ise and toll operations. The ROTC 91 Express Lanes opened on March 20, 2017. Right to use leased assets: The right to use assets are initially measured at an amount equal to the initial measurement of the related lease liability plus any lease payments made prior to the lease tern less lease incentives, and plus andllary charges necessary to place the lease asset into place. The right to use assets are amortized on a straight-line basis over the life of the related lease. 14 RCTC 91 Express Lanes Fund Notes to Financial Statements June 30, 2022 Note 2. Summary of Significant Accounting Policies, Continued Deferred outflows of resources: In addition to assets, the statement of net position reports a separate section for deferred outflows of resources. This separate financial statement element represents a consumption of net position that applies to a future period and so will not be recognized as an outflow of resources (expense) until then. As of June 30, 2022, the Fund has deferred outflows of resources related to pension, other post -employment benefits (OPEB), and lass on refunding bonds. Due to other Commission funds: During the course of operations, transactions occur between Corrmission governmental funds involving goods provided and services rendered. Compensated absences: Vacation hours accumulated and not taken at year-end is reported as a long-term liability, net of current portion, in the Fund. Sick leave is recorded as an expense when taken by the employee. Employees with continuous five years of service have the option of being paid for sick leave accumulated in excss of 240 hours at a rate of 50% (i.e., one hour's pay for every two hours in excess of 240). Any sick leave in excess of 240 hours is accrued at fiscal year-end, and a liability is reported in the Fund. Pensions: For purposes of measuring the net pension asset and deferred outflows/inflows of resources related to pensions and pension expense, information about the fidudary net position of the Commission's Califomia Public Employees' Retirement System (CaIPERS) plans (Plans) and additions to✓deduction from Plans' fidudary net position have been determined on the same basis as they are reported by CalPERS. For this purpose, benefit payments (induding refunds of employee contributions) are recognized when due and payable in accordance with benefit terms. Investments are reported at fair value. Post -employment benefits other than pensions: For purposes of measuring the net CPEB asset, deferred outflows/inflows of resources related to the OPEB asset and CPEB expense, information about the fidudary net position of the Commission's OPEB plan, and additions to/deductions from the OPEB fidudary net position have been determined on the same basis as they are reported by Califomia Employers' Retiree Benefit Trust administered by CaIPERS. For this purpose, benefit payments are recognized when due and payable in accordance with benefit terms. Investments are reported at fair value, except for money markets and participating interest-eaming investment contracts that have a maturity at the time of purchase of one year or less, which is reported at cost. Lease Payable: During the year ended June 30, 2022, the Fund adopted GASB Statement No. 87, Leases. The Fund established lease liabilities of $335,578 with no adjustments to opening net position. The liability is the right to use leased building. Deferred inflows of resources: In addition to liabilities, the statement of net position reports a separate section for deferred inflows of resources. This separate finandal statement element represents an acquisition of net position that applies to a future period and will not be recognized as an inflow of resources, or revenue, until then. The Fund has deferred inflows of resources related to pension and other post -employment benefits. Risk management: The Fund purchases corrrrerdal property insurance induding business interruption, earthquake, and flood coverage related to the toll facility. 15 ROTC 91 Express Lanes Fund Notes to Financial Statements June 30, 2022 Note 2. Summary of Significant Accounting Policies, Continued Net position: Net position represents the difference between assets plus deferred outflow of resources and liabilities plus deferred inflow of resources and is dassified into two categories: • Net investment (deficit) in capital assets consists of capital and intangible assets, net of accumulated depredation, reduced by the outstanding balances of any borrowings used for the acquisition, construction, or improvement of those assets and exdudes unspent debt proceeds. • Restricted net position represents restricted assets less liabilities related to those assets. Restricted assets are recorded when there are limitations imposed by creditors (such as through debt covenants). The statement of net position includes restricted net position for the portion of net toll revenues restricted by the 2013 Master Indenture, as amended by the fourth Supplemental Indenture for toll operations. The deficit in net investment in capital assets will be reduced by future toll revenues for the payment of outstanding toll obligations. Use of estimates: The preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumption that affect certain reported amounts and disclosures during the reporting period. As such, actual results could differ from those estit r rtes. Note 3. Cash and Investments Cash and investments are comprised of the following at June 30, 2022: Cash in bank Investments Wth RCPIF Wth Trustee Total investments Total cash and investments $ 1,368,611 90,284,089 96,659,743 186,943,832 $ 188,312,443 Total cash and investments are reported in the financial statements as: Unrestricted cash and investments $ 91,652,700 Restricted cash and investments 96,659,743 Total cash and investments $ 188,312,443 Fair Value Hierarchy: The Commission categorizes its fair value measurements within the fair value hierarchy established by generally accepted accounting principles. The hierarchy is based on the valuation inputs used to measure fair value of the assets. Level 1 inputs are quoted prices in an active market for identical assets; Level 2 inputs are based on similar observable assets either directly or indirectly, which may include inputs in markets that are not considered to be active; and Level 3 inputs are significant unobservable inputs (the Commission does not value any of its investments using Level 3 inputs). 16 RCTC 91 Express Lanes Fund Notes to Financial Statements June 30, 2022 The following is a sur r miry /dry of the fair value hierarchy of the fair value of investments of the Fund as of June 30, 2022: Investments by fair value level: Investments subjed to fair value hierarchy: Mortgage and asset -backed securities U.S. Treasury obligations Money market mutual funds U.S. agency securities Corporate rotes Municipal bonds Total investments measured at fair value Investments not subject to fair value hierarchy: RCPI F Total investments Fair Value Measurements Using (noted Prices in Active Significant Other Markets for Identical Observable June 30, 2022 Assets (Level 1) Inputs (Level 2) $ 26,802,009 $ 13,313,495 42,740,048 1,263,599 8,588,550 3,952,042 - $ 26,802,009 13,313,495 42,740,048 1,263,599 8,588,550 3,952,042 96,659,743 $ 56,053,543 $ 40,606,200 90,284,089 $ 186,943,832 Investments classified in Level 1 of the value hierarchy, valued at $56,053,543 are valued using quoted prices in active markets. Mortgage and asset -backed securities totaling $26,802,009, U.S. agency securities totaling $1,263,599, corporate notes totaling $8,588,550, and municipal bonds totaling $3,952,042, dassified in Level 2 of the fair value hierarchy, are valued using matrix pricing techniques maintained by various pricing vendors. Matrix pricing is used to value securities based on the securities' relationship to benchmark quoted prices. Fair value is defined as the quoted market value on the last trading day of the period. Thcso prices are obtained from various pricing sources by the custodian bank. As of June 30, 2022, the Fund has the fdlowing investments: Investments RCPT F Held by Trustee Corporate notes Money market mutual funds Mortgage and asset -backed si'rities Municipal bonds U.S. agency securities U.S. Troosury obligations Total Investments Fair Value Principal $ 90,284,089 $ 92,004,424 0.125%- 4.700% 8,588,550 8,695,332 0.000%- 3.973% 42,740,048 42,740,048 0.10%- 0.980% 26,802,009 27,131,231 0.170% - 4.445% 3,952,042 4,011,236 0.453%- 3.974% 1,263,599 1,315,346 0.647%- 3.994% 13, 313, 495 13,534,106 0.000% - 2.289% $ 186,943,832 $ 189,431,723 Interest Rate Range Maturity Range 7/1/22 - 6/30/27 7/1/22-11/20/45 wa 9/25/22 - 9/16/55 7/1/22 - 2/1/24 12/30/24-11/16/28 7/31/23 - 8/15/30 Portfolio mighted average wreighted Average Maturity (Years) 1.148 1.541 23 daysor0.063 5.209 0.573 3.273 1.792 1.943 The weighted average rrulurity is calculated using the investment's effective duration weighted by the investment's fair value. 17 RCTC 91 Express Lanes Fund Notes to Financial Statements June 30, 2022 Note 3. Cash and Investments, Continued As of June 30, 2022, mortgage and asset -backed securities totaled $26,802,009. The underlying assets are consumer receivables that include credit cards, autdequiprrent, and home loans. The securities have a fixed interest rate and are rated Aaa/AAA by least two of the three nationally recognized statistical rating organizations. Deposits and withdrawals in the RCPIF are made on the basis of $1.00 (cost basis) and not fair value. Accordingly, the Fund's investment at June 30, 2022 is uncategorized, not defined as Level 1, Level 2, or Level 3 input. Intcrct rate risk: \ vhile the Commission does not have a formal policy related to the interest rate risk of investments, the Commission's investment policy follows the Code as it relates to lirrits on investrrent rrrcrlurities as a means of managing exposure to fair value losses arising from increasing interest rates. In accordance with the Commission's investrrent policy, restricted investments are invested in accordance with the rrhiturity provisions of the specific bond indenture, which may extend beyond five years. Custodial credit risk: Custodial credit risk for deposits is the risk that, in the event of the failure of a depository financial institution, a govemment will not be able to recover its deposits or will not be able to recover collateral securities that are in the possession of an outside party. The custodial credit risk for investments is the risk that, in the event of the failure of the counterparty (e.g., broker -dealer) to a transaction, a government will not be able to recover the value of its investment or collateral securities that are in the possession of another party. The Comrrission's investrrent policy requires that a third - party bank trust department hold all securities owned by the Comrission. Al trades are settled on a delivery versus payment basis through the Commission's safekeeping agent. The Fund has deposits with a bank balance of $1,368,611 with a financial institution; bank balances over $5,000,000 are swept daily into a money market account. Of the bank balance, up to $250,000 is federally insured under the Federal Depository Insurance Corporation with balances in excess of $250,000 collateralized in accordance with the Code; however, the collateralized securities are not held in the name of the Commission. Credit risk: The Commission's investment policy as well as the specific bond indentures set minimum acceptable credit ratings for investments from any of the three nationally recognized statistical rating organizations. The following table is a sur r i rury of the credit quality distribution and concentration of credit risk by investment type as a percentage of each categorys fair value at June 30, 2022; securities denoted as NR are not rated by one of the nationally recognized statistical rating organizations. Investments Moody's S&P %of Portfolio RCPI F Aaa-bf AAA/f/S1 48.29% Corporate Notes Al A 0.79% Notes Al Ar 0.93% Notes Al BBB+ 0.27% Notes A2 A 0.51% Notes A2 A- 0.61% Notes A2 BBB+ 0.29% Notes A3 A- 0.88% Notes A3 BBB+ 0.32% 18 RCTC 91 Express Lanes Fund Notes to Financial Statements June 30, 2022 Note 3. Cash and Investments, Continued Investments Moocly's S&P %of Portfolio Money market mutual funds Funds Mortgage and asset backed securities Securities Securities Securities Securities Securities Securities Securities Securities Securities Securities Securities Municipal bonds Aaa-nf AAA i 22.86% AA2 NR 0.18% AAA M 0.20% Aaa AA+ 0.14% AAA AAA 1.82% AM NR 1.46% F1+ P-1 0.06% P-1 A-1+ 0.41% NR A-1+ 0.04% NR AAA 2.63% NR AA+ 7.24% NR NR 0.15% Qty of Dallas Area Rapid Transit AA2 AA+ 0.34% County of Forsyth School District AAA AAA 0.25% County of San Dego A2 NR 0.17% Massachusetts Clean Energy Coop A2 NR 0.28% New Jersey Pat Authority AA3 M 0.22% San Diego Community College District W AAA 0.24% State of New York AA2 M 0.14% State of Oklahoma NR A4 0.32% University of Washington AAA AA+ 0.16% U.S. agency securities Notes AAA AA+ 0.53% Notes AAA NR 0.15% U.S. Treasuries Treasury NR NR 7.12% Total 100.00% Concentration of credit risk: The Commission's investment policy places a limit of 10% on the amount of investment holdings with any one non-U.S. Government or non-federal agency issuer. As of June 30, 2022, the Commission did not have investrrents in any one issuer that represents more than 5% of the Commission's total investrrents. 19 ROTC 91 Express Lanes Fund Notes to Financial Statements June 30, 2022 Capital assets activity for the Fund for the year ended June 30, 2022 is as follows: Balance June 30, 2021 Additions Deletions Balance June 30, 2022 Capital assets not being depredated: Land and land improvements Construction easements Construction in progress Development in progress Total capital assets not being depredated Capital assets being depredated and amortized: Toll infrastructure Transponders Buildings Equipment, furniture, and fixtures Toll facility franchise Total capital assets being depredated and amortized Lass accumulated depredation and amortization for: Toll infrastructure Transponders Buildings Equipment, furniture, and fixtures Toll fadlityfranchise Total am emulated depredation Total capital assets being depredated and amortized, net Right to use lease assets Buildings Accumulated amortization Total right to use lease assets Capital assets, net $ 25,049,606 $ — $ (13,617,725) — 206,307 2,417,207 27,466,813 27,899,996 453,818 1,138,849 60,695 250,692,492 280,245,850 $ 11,431,881 206,307 4,614,768 — 4,614,768 — (2,417,207) — 4,821,075 (16,034,932) 16,252,956 4,093,335 24,998 9,160 4,127,493 31,993,331 453,818 1,163,847 69,855 250,692,492 284,373,343 (23,133,984) (365,930) (512,328) (48,602) (20,935,375) (44,996,219) 235,249,631 (4,422,959) (78,000) (136,755) (5,022) (5,022,014) (9,664,750) (5,537,257) (27,556,943) (443,930) (649,083) (53,624) (25,957,389) (54,660,969) 229,712,374 379,834 379,834 (49,011) — (49,011) 379,834 (49,011) — 330,823 $ 263,096,278 $ (765,193) $ (16,034,932) $ 246,296,153 On May 14, 2012, the Corrrrission entered into a toll facilities agreement with Caltrans providing the Corrmission with authorization to toll the SR -91 from Orange/Rverside County line to 1-15 for 50 years commencing as of the first day on which the ROTC 91 Express Lanes open for public use and toll operations. The agreement also set forth the Commission's rights to Caltrans' right of way and Caltrans' oversight role in the operations and maintenance of the RCTC 91 Express Lanes. The Fund has recorded one right to use leased asset. The asset is a right to r use leased building. The related lease liability is discussed in the long-term obligations section. The right to use lease assets are amortized on a straight-line basis over the terms of the related lease. 20 RCTC 91 Express Lanes Fund Notes to Financial Statements June 30, 2022 Due from'to other Commission funds: The composition of balances related to due from other funds and due to other funds of the Comrission at June 30, 2022 is as fellows: Payable Fund Receivable Fund Amount Explanation RCTC91 Express Lanes Enterprise fund Commission's General fund RCTC 91 Express Lanes Enterprise fund Corrrrission's General fund Commission's Special Revenue fund ROTC 91 Express Lanes Enterprise fund Total due from (to) other Commission funds, net $ (378,900) Administrative cost allocation (48,801) Fringe benefits allocation 2,547,235 91 Corridor Operations project reimbursements $ 2,119,534 Transfers to/from other Commssion funds: During 2022, transfers to/from other Commission funds vvere as follcvvs: Transfer Out Transfer In Arnount Explanation ROTC 91 Express Lanes Commission's Special Revenue fund $ (230,689) Enterprise fund Commission's Special RCTC 91 Express Lanes Enterprise 2,547,235 Revenue fund fund Total transfers cut to other Comrission funds $ 2,316,546 Transfer of surplus funds to fund the 91 Corridor Operations project Transfer return of surplus funds to fund the 91 Corridor Operations project Note 6. Long Term Obligations The following is a surriwry of changes in long-term obligations for the year ended June 30, 2022: Balance Additions / June 30, 2021 Accretion Balance Due Within Reductions June 30, 2022 One Year Toll revenue bonds: 2013 Bonds $ 212,071,347 $ 4,279,344 $(152,743,739) 2021 Bonds — 615,059,000 — Toll revenue bonds discount (1,855,227) 18,268 1,836,959 TdI revenue prerrium — 55,968,468 (1,599,956) $ 63,606,952 $ 615,059,000 54,368,512 2,537,375 Total bonds payable, net 210,216,120 675,325,080 (152,506,736) 11 FIA loan Lease liability Compensated absences liability Total long-term obligations 733,034,464 2,537,375 503,338,191 379,834 104,007 $ 714,038,152 6,459,967 (509,798,158) (44,256) 67,358 (85,987) $681,852,405 $(662,435,137) 335,578 85,378 $ 733,455,420 44,402 41,117 $ 2,622,894 21 RCTC 91 Express Lanes Fund Notes to Financial Statements June 30, 2022 Note 6. Long -Term Obligations, Continued In July 2010, the Commission authorized the issuance and sale of not to exceed $900 Trillion of toll revenue bonds related to the 91 Project. In March 2020, the Commssion authorized the issuance and sale of not to exceed $725 million of toll revenue refunding bonds related to the RCTC 91 Express Lanes. In October 2021, the Corr fission authorized the issuance of toll revenue refunding bonds (2021 Toll Refunding Bonds) consisting of $88,735,000 senior lien federally taxable bonds, $450,629,000 senior lien tax-exempt bonds, and $75,695,000 second lien tax-exempt bonds. The procesais of the 2021 Toll Refunding Bonds were used to refund a portion of the RCTC 91 Express Lanes 2013 Toll Revenue capital interest bonds (CIBs), pay the purchase price of the 2013 Toll Revenue ClBs accepted for tender for rash, refund and prepay the 11FIA loan, fund capitalized interest, make deposits to required reserves, and pay costs of issuance. Certain senior lien tax-exempt bonds issued were exchanged for certain 2013 Toll Revenue °Bs accepted for exchange. Additionally, the Commission deposited available funds with an escrow agent to defease approdiirately $28,919,000 in accreted value of the 2013 Toll Revenue capital appreciation bonds (CABs) maturing in the years 2022 through 2025 and 2027 through 2029. Cost of issuance of $3.8 million was expended in connection with the issuance of the 2021 Toll Refunding Bonds. Loss on refunding of $6.7 Trillion was recognized in connection with the issuance of the 2021 Toll Refunding Bonds. A portion of the proceeds from the sale of the 2021 Toll Refunding Bonds and the available funds deposited with an escrow agent in separate irrevocable trusts will be used to service the future debt requirements of the refunded 2013 Toll Revenue ClBs and 2013 Toll Revenue CABs. This refunding resulted in an economic gain as well as savings from the refunding. The eoononic gain realized was approximately $85,278,000 and the savings resulting from the refunding was approximately $110,495,100, as calculated below. Cash flow requirements to service refunded debt $ 1,127,324,500 Less: rash flow requirements to service new debt (1,016,829,400) Net savings from refunding $ 110,495,100 2013 Toll Revenue Bonds, Series B (Capital Appreciation Obligation): Outstanding In July 2013, the Corrrrrssion issued $52,829,602 principal amount of serial CABs to fund a portion of the 91 Project, pay capitalized interest during construction, fund a debt service reserve fund, fund an initial amount for an operations and maintenance fund, and pay costs of issuance. In October 2021, the Commission refunded a portion of the 2013 Series B Senior Bonds. The CABs will not pay current interest as interest will be compounded corrrnencing December 2021 semiannually and paid at maturity. Therefore, the CABs will increase in value, or accrete, by the accumulation of such compounded interest from its initial principal amount to the maturity value in installments ranging from $4,580,000 to $34,220,000 on various dates from June 1, 2025 through June 1, 2043. Interest rates and yield to maturity range from 3.00% to 4.00% During 2022, the accretion amount was $2,623,752; the aggregate accretion through June 30, 2022 is $2,623,752. $ 63,606,952 22 RCTC 91 Express Lanes Fund Notes to Financial Statements June 30, 2022 Note 6. Long -Term Obligations, Continued In accordance with the bond maturity schedule, the approximate annual debt service requirements to rr raturity for the 2013 Toll Revenue Bonds CABs payable throughout the term of the bonds are as follows: Year Ending June 30 2023 2024 2025 2026 2027 2028-2032 2033-2037 2038-2042 2043 Principal Accreted Interest Total $ $ 4,394,600 $ 4,394,600 4,699,700 4,699,700 3,696,600 5,025,700 8,722,300 3,681,000 5,095,100 8,776,100 3,312,500 7,702,600 11,015,100 19,427,100 22,822,600 42,249,700 9,784,400 20,630,800 30,415,200 13,594,300 24,805,100 38,399,400 7,487,300 2,321,800 9,809,100 $ 60,983,200 $ 97,498,000 $ 158,481,200 2021 Toll Revenue Refunding Bonds, Series A Outstanding In October 2021, the Corrrrission issued $88,735,000 principal amount to (i) refund a portion of the Commission's outstanding Toll Revenue Senior Lien Bonds, 2013 Series A (current interest o obligations), (ii) fund capitalized interest with respect to the 2021 Series A Senior Bonds, (iii) make a deposit to the 2013 Bonds Reserve Account (which secured the 2021 Series A Senior Bonds and the 2013 Series B Senior Bonds), and (iv) pay certain costs of issuance of the 2021 Series A Senior Bonds. The outstanding 2021 Toll Revenue Refunding Bonds, Series A mature in annual installments ranging from $2,305,000 to $27,750,000 on various dates from June 1, 2030 to June 1, 2041 at interest rates from 2.477% to 3.335%. Year Ending June 30 2023 2024 2025 2026 2027 2028-2032 2033-2037 2038-2041 Principal 9,865,000 64,265,000 14,605,000 $ 88,735,000 Interct Total $ 2,725,300 $ 2,725,300 2,725,300 2,725,300 2,725,300 2,725,300 2,725,300 2,725,300 2,725,300 2,725,300 13,327,300 23,192,300 8,778,100 73,043,100 1,948,500 16,553,500 $ 88,735,000 $ 37,680,400 $ 126,415,400 23 RCTC 91 Express Lanes Fund Notes to Financial Statements June 30, 2022 Note 6. Long -Term Obligations, Continued 2021 Toll Revenue Refunding Bonds, Series B-1: Outstanding In October 2021, the Commission issued $437,895,000 principal armunt at a premium of $46,512,600 to (i) refund and prepay a portion of the Commission's outstanding Toll Revenue Subordinate Bonds, 2013 IIFIA Series by prepaying a corresponding portion of its obligations under the related 11FIA Loan Agreement, (ii) pay the purchase price of 2013 Series A Senior Bonds accepted for tender for cash, (iii) make a deposit to the 2021 Series B Senior Bonds Reserve Account, and (iv) pay certain costs of issuance of the 2021 Series B Senior Bonds. The outstanding 2021 Toll Revenue Refunding Bonds, Series B-1 mature in annual installments ranging from $5,010,000 to $65,105,000 on various dates from June 1, 2037 to June 1, 2049 at interest rates from 3.000 to 4.000%. $ 437,895,000 Year Ending June 30 Principal Interest Total 2023 2024 2025 2026 2027 2028-2032 2033-2037 2038-2042 2043-2047 2048-2049 $ 16,065,900 $ 16,065,900 16,065,900 16,065,900 16,065,900 16,065,900 16,065,900 16,065,900 16,065,900 16,065,900 80,329,200 80,329,200 31,315,000 80,329,200 111,644,200 150,160,000 59,625,600 209,785,600 155,400,000 31,576,400 186,976,400 101,020,000 4,108,000 105,128,000 $ 437,895,000 $ 336,297,900 $ 774,192,900 2021 Toll Revenue Refunding Bonds, Series B-2: Outstanding In October 2021, the Commission issued $12,734,000 principal amount together with the 2021 Series B-1 Senior Bonds, the 2021 Series B Senior Bonds exchanged for the 2013 Series A Senior Bonds accepted a tender for exchange. The outstanding 2021 Toll Revenue Refunding Bonds, Series B-2 mature in annual installments ranging from $1,894,000 to $5,420,000 on various dates from June 1, 2044 to June 1, 2048 at an interest rates of 3.000%. $ 12,734,000 Year Ending June 30 Principal Interest Total 2023 2024 2025 2026 2027 2028-2032 2033-2037 2038-2042 2043-2047 2048 $ — $ 382,000 $ 382,000 382,000 382,000 382,000 382,000 382,000 382,000 382,000 382,000 1,910,100 1,910,100 1,910,100 1,910,100 1,910,100 1,910,100 7,314,000 1,739,600 9,053,600 5,420,000 162,700 5,582,700 $ 12,734,000 $ 9,542,600 $ 22,276,600 24 RCTC 91 Express Lanes Fund Notes to Financial Statements June 30, 2022 Note 6. Long -Term Obligations, Continued 2021 Toll Revenue Refunding Bonds, Series C: Outstanding In October 2021, the Commission issued $75,695,000 principal amount at a premium of $9,455,800, to (i) refund and prepay the remaining portion of the Commission's outstanding 11FIA Obligations and (ii) pay certain costs of issuance of the 2021 Series C Second Lien Bonds. The outstanding 2021 Toll Revenue Refunding Bonds, Series C mature in annual installments ranging from $17,585,000, to $58,110,000 on various dates from June 1, 2046 to June 1, 2047 at an interest rate of 4.000%. $ 75,695,000 Year Ending June 30 Principal Intercwt Total 2023 2024 2025 2026 2027 2028-2032 2033-2037 2038-2042 2043-2047 $ $ 3,027,800 $ 3,027,800 3,027,800 3,027,800 3,027,800 3,027,800 3,027,800 3,027,800 3,027,800 3,027,800 15,139,000 15,139,000 15,139,000 15,139,000 15,139,000 15,139,000 75,695,000 12,814,600 88,509,600 $ 75,695,000 $ 73,370,600 $ 149,065,600 The Fund has entered into agreements to lease certain assets. The lease agreements qualify as other than short-term leases under GASB Statement No. 87 Leases, and therefore, have been recorded at the present value of the future minimum lease payments at the date of its inception. On November 11, 2019 the Fund entered into a 120 -month lease as a lessee for the use of 301 Corporate Terrace COrde, Corona Ca. An initial lease liability was recorded in the amount of $379,833. As of June 30, 2022, the value of the lease liability is $335,578. The Fund is required to make quarterly fixed payments of $12,172. The lease has an interest rate of 1.7670%. The value of the right to use asset as of June 30, 2022 of $379,834 with accumulated amortization of $49,011. The following table presents the principal and interest payments to rlralurity: Year Ending June 30 Principal Interest Total 2023 $ 44,402 $ 5,638 $ 50,040 2024 45,948 4,844 50,792 2025 47,975 4,018 51,993 2026 50,039 3,157 53,196 2027 51,988 2,259 54,247 2028-2030 95,226 1,698 96,924 Total $ 335,578 $ 21,614 $ 357,192 25 ROTC 91 Express Lanes Fund Notes to Financial Statements June 30, 2022 Cooperative agreements: The ROTC SR -91 Express lanes are jointly operated with the existing OCTA 91 Express Lanes and collectively referred to as the 91 Express Lanes. Under the Orange -Riverside Cooperative Agreement, which was entered into in December 2011, the Commission and OCTA agreed on the Ise of the same initial toll operator, cost and revenue sharing, tell polices, business rules, interoperability of technology, and marketing activities as well as OCTA review of design plans and construction activities for the 91 Project. In May 2013 the Commission entered into a throe party agreement with OCTA and the third -party toll operator, for the operations of the 91 Express Lanes. This will ensure streamlined and consistent intercounty travel for motorists on the OCTA 91 Express Lanes in Orange County and RCTC 91 Express Lanes in Riverside County. The third -party operator provides operating services to the Commission in the annual amount of $6,08,538 plus inflation for five initial years with two extension options, subject to Board of Commissioners approval. The third -party operator is responsible for the day-to-day operations of the toll facility; another contractor is responsible for maintaining the roadside toll collection system under a separate agreement with the Comrrission. The agreement with the third -party operator expired March 6, 2022. In November 2019, the Commission awarded an agreement to the third -party operator to develop and install a new back - office system and to provide express lane operator services, induding the back office and customer services center. The agreement is a three -party contract induding OCTA The contract has a five-year term beginning upon completion and implementation of the new back -office system, plus two 3 -year options, to operate both the OCTA and ROTC 91 Express Lanes. The operating term began on March 7, 2022 with the conversion to the new back -office system Purchase commitments: The Fund has entered into other agreements in the ordinary course of business with companies and other governmental agendes related to operations and maintenance. Those agreements, which are significant, are funded with available and future revenues. The Fund participates in the Commissions cost -sharing multiple employer defined benefit pension plan administered by the California Public Err vloyees' Retirement System and the Commission's OPEB. Employees of the Fund are employees of the Commission as a while. The required note disdosures regarding pension plans and OPEB are induded in the Comrission's financial statements. Please sco those financial statements for information about the pension plans and OPEB as a Mole. The net pension asset of $415,964 and net OPEB asset of $168,933, reported by the Fund, represent the Fund's proportional share of the Commission's net pension asset of $6,394,605 and net OPEB asset of $2,597,000. The Fund's net pension asset and net OPEB asset each represent 6.5% of the Commission's net pension liability and net OPEB asset, respectively. For the year ended June 30, 2022, the Fund's contributions recognized as part of pension and OPEB expenses were ($769,551) and ($54,064), respectively. 26 RCTC 91 Express Lanes Fund Notes to Financial Statements June 30, 2022 Note 9. Adoption of GASB Statement No. 87, Leases 1 As of July 1, 2021, the Fund adopted GASB Statement No. 87, Leases. The Statement requires recognition of certain lease assets and liabilities for leases that previously were dassified as operating leases and recognized as inflows of resources or outflows of resources based on the payment provisions of the contract. Beginning balances of lease receivables, assets, liabilities, and deferred inflows were restated to adopt the provisions of GASB Statement No. 87, Leases as fellows: Net position / fund balance at July 1, 2021, as previously reported Recognition of right to use lease asset Recognition of lease receivable Recognition of lease liability Recognition of deferred inflows from leases Net position / fund balance at July 1, 2021, as adjusted $ (285,462,152) 379,834 (379,834) $ (285,462,152) The GASB pronouncements issued prior to June 30, 2022 that have an effective date that may impact future financial presentations include: • GASB Staterrent No. 91, Conduit Debt Obligations, effective for fiscal years beginning after December 31, 2022; • GASB Staterrent No. 94, Public -Private and Public -Public Partnerships and Availability Payment Arrangenents, effective for the fiscal year that ends June 30, 2023; • GASB Statement No. 96, Subscription -Based Information Technology Arrangenents, effective for the fiscal year that ends June 30, 2023; • GASB Statement No. 99, Omnibus 2022 (The requirements related to extension of the use of LIBOR accounting for SNAP distributions, disdosures of nonnonetary transactions, pledges of future revenues by pledging govemrrents, clarification of certain provisions in Statement 34, as amended; and tem nology updates related to Statement 53 and Statement 63 are effective upon issuance.), effective for fiscal years beginning after June 15, 2022 • GASB Statement No. 100, Accounting Changes and Error Corrections, effective for fiscal years beginning after June 15, 2023; and • GASB Statement No. 101, Corrpensated Absences, effective for fiscal year ending June 30, 2024. 27 ATTACHMENT 9 RiversideExpress 15 Express Lanes Fund (Enterprise Fund of the Riverside County Transportation Commission) Financial Statements For the Year Ended June 30, 2022 RIVERSIDE COUNTY TRANSPORTATION COMMISSION 15 Express Lanes Fund (Enterprise Fund of the Riverside County Transportation Commission) Financial Statements For the Year Ended June 30, 2022 Contents Independent Auditor's Report Management's Discussion and Analysis 1 4 Financial Statements Statement of Net Position 9 Statement of Revenues, Expen and Change in Fund Net Position 10 Statement of Cash Rows 11 Notes to Financial Statements 13 EideBailly CPAs & BUSINESS ADVISORS Independent Auditor's Report Board of Commissioners Riverside County Transportation Commission Riverside, California Report on the Audit of the Financial Statements Opinion We have audited the financial statements of the 15 Express Lanes Fund (the Fund), an enterprise fund of the Riverside County Transportation Commission (the Commission) as of and for the year ended June 30, 2022 and the related notes to the financial statements as listed in the table of contents. In our opinion, the accompanying financial statements referred to above present fairly, in all material respects, the financial position of the 15 Express Lanes Fund of the Commission, as of June 30, 2022, and the changes in financial position and cash flows thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America. Basis for Opinion We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of Commission and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Adoption of New Accounting Standard As discussed in Note 10 to the financial statements, the Commission has adopted the provisions of Government Accounting Standards Board (GASB) Statement No. 87, Leases, for the year ended June 30, 2022. Accordingly, a restatement has been made to the Fund's net position as of July 1, 2021, to restate beginning net position. Our opinion is not modified with respect to this matter. Emphasis of Matter As discussed in Note 1, the financial statements present only the 15 Express Lanes Fund and do not purport to, and do not, present fairly the financial position of the Commission as of June 30, 2022, the changes in its financial position, or, where applicable, its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America. Our opinion is not modified with respect to this matter. What inspires you, inspires us. eidebailly.com 1 10681 Foothill Blvd., Ste. 300 Rancho Cucamonga, CA 91730-3831 T 909.466.4410 F 909.466.4431 EOE Responsibilities of Management for the Financial Statements Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America; and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor's Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements. In performing an audit in accordance with GAAS, we: • Exercise professional judgment and maintain professional skepticism throughout the audit. • Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of Commission's internal control. Accordingly, no such opinion is expressed. • Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements. We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control —related matters that we identified during the audit. Required Supplementary Information Accounting principles generally accepted in the United States of America require that the management's discussion and analysis, as listed in the table of contents, be presented to supplement the basic financial statements. Such information is the responsibility of management and, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United 2 States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. Rancho Cucamonga, California October 31, 2022 3 15 Express Lanes Fund Management Discussion and Analysis For the Year Ended June 30, 2022 As management of the 15 Express Lanes Fund (the Fund), an enterprise fund of the Riverside County Transportation Commission, we offer readers of the Fund financial statements this narrative overview and analysis of the Fund's financial activities for the fiscal year ended June 30, 2022. We encourage readers to consider information on finandal performance presented in conjunction with the finandal statements that begin on page 7. Financial Highlights • At the end of fiscal year (FY) 2021/22, the total net position of the Fund was $249,642,077 consisting of net investment in capital assets of $215,902,1410 and restricted net position of $33,739,637. The net position increased $18,4414,925 due to operating revenues outpacing operating expenditures and transfers. • Net position of $249,642,077 during FY 2021/22 reflects the position after the first full year of toll operations. The 15-rrile stretch that indudes two express lanes in each direction of the center rrredian along the Interstate (I) 15 corridor between Cajalco Road in Corona and State Route (SR) 60 in Jurupa Valley reached substantial completion and opened to motorists on April 10, 2021. • In FY 2021/22, total operating revenues of $37,259,442 indude toll, violation penalty, account fee, and miscellaneous revenues. Total operating expen of $22,373,269 indude but not limited to: roadway and toll systems maintenance, customer service, back -office operations, other support costs, and depredation and amortization. Overview of the Financial Statements This discussion and analysis is intended to serve as an introduction to the Fund's finandal statements. The finandal statements are comprised of the Fund finandal statements and notes to the finandal statements. The statement of net position presents information on all of the Fund's assets, liabilities, and deferred outflows/inflows of resources, with the difference reported as net position. Cver time, increases or decreases in net position may serve as a useful indicator of whether the finandal position of the Fund is improving or deteriorating. The statement of revenues, expen cs and changes in fund net position presents information showing how the Fund's net position changed during the fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenues are reported for some items that will only result in cash flows in future fiscal periods. The statement of cash flows presents information on the cash flows related to operating, noncapital financing, capital and related finandng, and investing activities. The Fund finandal statements can be found on pages 8-11 of this report. Notes to the finandal statements provide additional information that is essential to a full understanding of the data provided in the finandal statements. The notes to the finandal statements can be found on pages 12-22 of this report. 15 Express Lanes Financial Analysis As noted previously, net position may serve over time as a useful indicator of the Fund's finandal position. At June 30, 2022, the Fund's net position was $249,642,077. Our analysis below focu cs on net position and changes in net position of the Fund's finandal activities. 4 15 Express Lanes Fund Management Discussion and Analysis For the Year Ended June 30, 2022 15 Express Lanes Fund Net Position 2022 2021 Current and other assets Restricted acts Capital as -41s, net Total amts Deferred outflows of resources Total amts and deferred outflows of resources Current liabilities Long-term liabilities Total liabilities Deferred inflows of resources Total liabilities and deferred inflows of resources Net position Net investment in capital acts Restricted $ 11,458,973 46,950,436 368,116,699 $ 3,409,775 27,552,677 365,861,733 426,526,108 396,824,185 477,196 62,140 427,W3,304 396,886,325 5,044,271 171,412,545 3,025,812 162,615,664 176,456,816 165,641,476 904,411 47,697 177,361,227 165,689,173 215,902,440 33,739,637 223,952,733 7,244,419 Total net position $ 249,642,077 $ 231,197,152 FY 2021/22 represents the first full year of toll operations for the Fund. Total assets and deferred outflows of resources increased $30,116,979, or 8%, largely due to increases in capital assets and restricted assets related to toll operations. Total liabilities and deferred inflows of resources increased $11,672,054, or 7%, primarily due to increases in toll supported long-term debt related to accreted and compounded interest. The Fund's net investment in capital assets was $215,902,440 in FY 2021/22. The Fund's net position reflects its investment in capital assets (i.e., land and land improvements; buildings; toll infrastructure; equipment, fumiture and fixtures; and toll facility franchise), less any related outstanding debt used to acquire thcsc assets. The Fund uses these capital assets, which include intangible assets, to provide improved mobility for the Fund customers and commuters along the I-15 corridor. Restricted net position, representing resources subject to external restrictions on how they may be used, was $33,739,637 and represents 14% of the total net position at June 30, 2022. The analysis below focu,,es on the changes in net position. 5 15 Express Lanes Fund Management Discussion and Analysis For the Year Ended June 30, 2022 15 Express Lanes Fund Changes in Net Position 2022 2021 Cperafingrevenues Tot, penalties, and fees $ 37,259,442 $ 5,544,148 Total operating revenues 37,259,442 5,544,148 Operating expenses Management and operational services 10,514,267 2,018,801 Adminisbatveoverhead 305,200 53,500 Other operating expenses 173,980 25,193 Professional services 499,955 70,071 General and administrative (19,871) 71,834 Depredation and amortization 10,899,738 2,611,474 Total operating expenses 22,373,269 4,850,873 Cperating income 14,886,173 693,275 Nonoperating revenues (expenses) Investment income (lass) InAblest expense Total naxperating revenues (e eases) before contributions and transfers (430,015) 364 (4,859,834) (689,946) (5,289,849) (689,587) 9,596,324 3,693 Contributions from Commissiongovernmentalfunds 13,138,929 384,098,430 Transfers from enterprise funds - 891,711 Transfers from Commission governmental funds 35,380 - Transfers to Commission govern!' e itial funds (4,325,708) (153,796,682) Total contributions and transfers Change in net position Total net position at beginning of year Total net position at end of year $ 249,642,077 $ 231,197,152 8,848,601 231,193,459 18,441,925 231,197,152 231,197,152 - The Fund's operating revenues increased $31,715,294, or 572%, due to a full year of toll operations compared to three months of toll operations in FY 2020/21. Total operating expenses increased $17,522,396, or 361 % due to a full year of tdl operations compared to three months of tdl operations in FY2020/21. General and administrative expenscs reflect a negative $19,871 due to the credit of net pension and other post -employment benefits. Nonoperating expens , net increased $4,169,888, or 604%, due to tdl supported long-term debt related to accreted and compounded interest. Net contributions and transfers from the Commission decreased by $221,453,147, or 96%, as a result of the prior year's contribution of capital and intangible assets, offset by the transfer of tdl-supported long-term debt related to the 1-15 Express Lanes project. Net transfers from the Enterprise fund decreased $891,711, or 100°/q as a result of the prior year's transfer of capital assets. Total traffic volume on the 15 Express Lanes Fund during FY 2021/22 was appro)dmately 23,465,900 transactions. 6 15 Express Lanes Fund Management Discussion and Analysis For the Year Ended June 30, 2022 Capital Assets AS of June 30, 2022, the Fund had $368,116,699, net of amimulated depredation and amortization, invested in a broad range of capital assets induding: land and land improvements; buildings; toll infrastructure comprised of communication equipment and computer hardware and software; equipment, fumiture, and fixtures; and toll facility franchise. 15 Express Lanes Fund Capital Assets, Net of Depreciation 2022 2021 Land and land improvements $ 611,755 $ 611,755 Toll infrasfruckre 18,415,058 12,241,964 Toll facility franchise 343,502,929 346,685,677 Buildings 5,512593 6,277,699 Equipment, furniture, and fixtures 74,364 94,638 Total capital assets, net $ 368,116,699 $ 365,861,733 More detailed information about the Fund's capital assets is presented in note 5 to the financial statements. Debt Administration As of June 30, 2022, the Fund had $162,385,853 outstanding in a Transportation Innovation Finance and Infrastructure Act (TTFIA) loan and $9,000,000 outstanding from an advance from Commission Measure A revenues. 15 Express Lanes Fund Outstanding Debt 2022 2021 TTFIA loan $ 162,385,853 $ 153,605,519 Advance from Commission fund 9,000,000 9,000,000 Total outstanding debt $ 171,385,853 $ 162,605,519 Additional information on long-term debt can be found in note 7 to the financial statements. Economic and Other Factors The Fund makes up $33,886,200 or 4% of Corrrrission's FY 2022/23 revenue budget. In FY 2022/23, toll and non - toll revenues are forecasted to increase by 43% over the FY 2021/22 budget. This increase is due to higher than antidpated revenues received during FY 2021/22 largely as a result of tolls collected within the southern terminus of the Enterprise. The average projected long-term rate of growth for toll road revenues beyond FY 2022/23 is 2.4%. The majority of expenses related to the Fund within FY 2022/23 budget are on -going general costs related to day-to- day operations of the toll fadlity. As a fully electronic toll fadlity, motorists pay tolls through the convenient use of FasTrak®transponders that automatically deduct toll charges from a prepaid account. 7 15 Express Lanes Fund Management Discussion and Analysis For the Year Ended June 30, 2022 Contacting 15 Express Lane's Management This financial report is designed to provide a general overview of the Fund's finances for all those with an interest in the government's finances and to derrbnstrate the Fund's accountability for the money it receives. Questions conceming any of the infommtion provide in this report or requests for additional information should be addressed to the Chief Financial Officer, Finance Department at the Riverside County Transportation Conmmission, 4080 Lemon Street, 3rd Floor, P.O. Box 12008, Riverside, CA 92502-2208. 8 15 Express Lanes Fund (Enterprise Fund of the Riverside County Transportation Commission) Statement of Net Position June 30, Nll Assets Current assets: Cash and i nest vents $ 4,311,343 Receivables Accounts 5,902,990 Intermit 27,336 Lease 88,805 Prepaid expenses 193,371 Total current crrr'ts 10,523,845 Noncurrent assets: Restricted cash and investments 46,950,436 Lease receivable 582,351 Net pension assets 250,886 Net oil ter post -employment benefits assets 101,891 Capital assets, r let Nondepredable 611,755 Depreciable and at r to Iizable 367,504,944 Total noncurrent assets 416,002,263 Total assets 426,526,108 Defer t ed outflows of resources Pension benefits alder post -employment benefits Total assets and deferred outflows of rent rroes Liabilities Current liabilities: Arm tats payable Interest payable Due to other Commission funds Cher liabilities Compensated absences liability Total current liabilities Noncurrent liabilities: Compensated absences liability Advance from other Commission funds Bonds payable - due in more than me year Total noncurrent liabilities Total liabilities Defe t ed inflows of ran irces Pension benefits Other post -employment benefits I east= revenues Total liabilities and deferred inflcans of resources 433,838 43,358 427,003,304 3,251,686 1,286,319 101,434 380,035 24,797 5,011,271 26,692 9,000,000 162385,853 171,412545 176,456,816 175,311 67,455 661,645 177,361,227 Net position Net investment in capital assets 215,902,440 Restricted for exp-esc lanes 33,739,637 Total net position $ 249,642,077 See notes to financial stateneits 9 15 Express Lanes Fund (Enterprise Fund of the Riverside County Transportation Commission) Statement of Revenues, Expenses and Change in Fund Net Position For the Year Ended June 30, 2022 Operating revenues Tolls, penalties, and fees $ 37,259,442 Operating expenses Management and operational services 10,514,267 Administrative overhead 305,200 Other operating expenses 173,980 Profo sional services 499,955 General and administrative expenses (19,871) Depredation and amortization 10,899,738 To operating expenses 22,373,269 Operating income 14,886,173 Nonoperating revenues (expenses) Investment income (loss) (430,015) Interest expense (4,859,834) Total nonoperating revenues (expenses) (5,289,849) Income before contributions and transfers 9,596,324 Contributions and transfers Contributions from Commission governmental activities 13,138,929 Transfers in from Commission governmental activities 35,380 Transfers out to Commission governmental activities (4,325,708) Total contributions and transfers 8,848,601 Change in net position 18,14/1,925 Net position at beginning of year 231,197,152 Net position at end of year $ 249,642,077 See motes to financial staterents 10 15 Express Lanes Fund (Enterprise Fund of the Riverside County Transportation Commission) Statement of Cash Flows For the Year Ended June 30, 2022 Cash flows from operating adivities Receipts from ajstaiiers and users $ 34,048,840 Payments to vendors (9,835,736) Payments to employees (485,583) Payments for RCTC interfund services used (285,400) Reimbursements received for Icn-c costs 48,988 Net cash provided by operating activities 23,491,109 Cash flows from capital and related financing activities Payment for acquisition of capital assets Net cash used for capital and related financing adivities Cash flows from investing activities Interest Net cash used for investing activities (15,775) (15,775) (367,719) (367,719) Net increase in cash and cash equivalents 23,107,615 Cash and cash equivalents at beginning of year 28,208,051 Cash and cash equivalents at end of year $ 51,315,666 Reconciliation of cash and rash equivalents to statement of net position Cash and investments $ 4,311,343 Add: fair value adjustment 53,887 Restricted cash and investments Total cash and cash equivalents See notes to financial statenEnts 11 4,365,230 46,950,436 $ 51,315,666 15 Express Lanes Fund (Enterprise Fund of the Riverside County Transportation Comrission) Statement of Cash Flans, Continued For the Year Ended June 30, 2022 Reconciliation of operating income (lass) to net cash provided by (used for) operating activities Operating income $ 14,886,173 Adjustments to reoondle operating income b net cash provided by (used for) operating activities Depredation and amortization expense 10,899,738 Change in asls and liabilities (Increase) Decrease in other receivables, net (3,772,815) (Increase) Decrease in prepaid assets 424,881 Increase (Decrease) in pennon and post -employment benefit liabilities, net of deferred items (571,131) Increase (Decrease) in lease receivable, net of deferred items (9,511) Inarc r (Decrease) in arm mis payable 1,348,182 Increase (Decrease) in due b other Commission funds 20,283 Increase (Decrease) in compensated absences liability 40,658 Ina ear (Decrease) in other liabilities 224,651 Total adjustments 8,604,936 Net cash provided by operating adivities $ 23,491,109 Noncash capital, financing and investing adivities Aoa eted and compounded interest on 11FIA Loan $ 4,475,122 Compounded interest on advance from other Commission fund 384,712 Net increase (decrcrrr) in the fair value of investments 53,887 Contributions of capital and intangible fits from Commission governmental adivities 13,138,929 Transfers in of accrued investment income from Commission governmental adivities 35,380 See notes to financial statenEnts 12 15 Express Lanes Fund Notes to Financial Statements June 30, 2022 Note 1. Reporti • Enti After more than a decade of work, which includes approxiirbilely three years of construction, the Riverside County Transportation Commission (Commission) achieved substantial completion on the 1-15 Express Lanes Project on April 10, 2021. In achieving substantial completion, the 15 Express Lanes opened to traffic; tolling cormrenced on April 14, 2021. The 15 -mile stretch includes two lanes in each direction of the center !median along the Interstate (I) 15 corridor between Cajalco Road in Corona and State Route (SR) 60 in Jurupa Valley. The 15 Express Lanes Fund (Fund) is reported as a major enterprise fund in the Commission's basic financial statements. The accompanying financial statements present the net position, changes in net position, and cash flows of the Fund only. They do not purport to, and do not, present the overall financial position of the Commission or its changes in net position as of June 30, 2022. Note 2. wry of Significant Accounting Policies The accounting polities of the Fund are in conformity with generally accepted accounting principles applicable to govemrr ntal units. The Governmental Accounting Standards Board (GASB) is the accepted standard -setting body for establishing accounting and financial reporting principles. Basis of Accounting: The financial statements of the Fund are reported using the economic resources measurement focus and the accrual hasis of accounting. Revenues consisting substantially of tolls and fees, are recorded when eamed, and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Toll revenue is recognized when the customers utilize the toll road facility and payrrent is collected. Enterprise funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and expel -Lies generally result from providing services in connection with an enterprise fund's principal and ongoing operations. The principal operating revenues of the Fund are charges to customers for use of the toll facility. Operating expenses for the Fund include the cost of services, administrative expenses, and depredation and amortization on capital and intangible assets. All revenues and expenses not meeting this definition are reported as nonoperating revenues and expenses. Violations: Violations consist of uncollected vitiation tolls and penalties. Unpaid vitiations of $17,580,047 as of June 30, 2022 are not recognized as revenue until payrrent is received. If vitiations and penalties remain owed for more than 90 days, they are attached to the registration for the violation vehide. Unpaid vitiations will remain recorded for a period of four years in accordance with the statute of limitations, at which time, they will be deemed uncdlectible. Cash and investments: The Commission maintains cash and investments in accordance with the Investment Policy adopted by the Board of Commissioners in December 2021. The Investrrent Policy complies with the California Government Code (Code). Investments of bond proceeds as permitted by the applicable debt documents are maintained with U.S. Bank as trustee. Separate investment accounts are maintained for the proceeds of bond issues, with the earnings for each bond issue accounted for separately. The Fund participates in the Riverside County Pooled Investrrent Fund (RCPIF). Cash from other Commission revenue sources is commingled for investment purposes in the ROPIF, with investment eamings allocated to the different accounts based on average daily account balances. The Commission holds investments that are measured at fair value on a recurring hasis. Investments in U.S. Treasury obligations, U.S. agency securities, and mortgage and asset -backed securities are carried at fair value based on quoted market prices, except for money market investments, which are carried at amortized cost which approximates fair value. The ROPIF is carried at fair value based on the value of each partidpating dollar as provided by ROPIF. 13 15 Express Lanes Fund Notes to Financial Statements June 30, 2022 Cash and cash equivalents: For the purpose of the statement of cash flows, the Commission considers all short-term investments with an initial maturity of three months or less to be cash equivalents. Al deposits, commercial paper notes, money market funds, negotiable certificates of deposit, and the Fund's share of the RCPIF represent rash and cash equivalents for cash flow purpoece. Restricted cash and investments: Investments set aside in the Senior Lien Obligations Reserve Fund, Second Lien Obligations Reserve Fund, Subordinate Lien Obligations Reserve Fund, and Residual Fund Scheduled Retained Balance Fund are pursuant to the terms of the 2017 Indenture and their use is limited by applicable debt terms and conditions. Permitted investments per the debt indentures include government obligations, State of California and local agency obligations, banker's acceptances, corrnerdal paper notes, negotiable certificates of deposit, repurchase agreements, money market funds, other mutual funds, investment agreerrents, RCPIF, and variable and floating rate securities. Receivables: Accounts receivables include amounts due from other California toll road agencies related to their customers' use of the 15 Express Lanes. Capital assets: Capital assts tS indude land and land improvements; toll infrastructure; buildings; equipment, fumiture and fixtures; and toll facility franchise. Capital assets are defined by the Fund as assets with an initial, individual cost of more than $5,000 and a useful life in excess of three years. Such assets are recorded at historical cost. The costs of normal maintenance and repairs that do not add value to the asset or materially extend asset lives are not capitalized. Capital assets are depredated using the straight-line method over the following estimated useful lives: Asset Type Useful Life Buildings 10 years Equipment, fumiture and fixtures 3 to 5 years Toll facility franchise 50 years Toll infrastructure 5 to 10 years The Commission entered into a toll fadlity agreement with Califomia's Department of Transportation (Caltrans) and obtained authority to toll the 1-15 corridor between Cajalco Road and SR -60 for 50 years comrrendng as of the first day on which the 15 Express Lanes open for public use and toll operations through April 2071. The 15 Express Lanes opened on April 10, 2021. Deferred outflows of resources: In addition to assets, the staterrent of net position reports a separate section for deferred outflows of resources. This separate financial staterrent element represents a consumption of net position that applies to a future period and so will not be recognized as an outflow of resources (expense) until then. As of June 30, 2022, the Fund has deferred outflows of resources related to pension and other post -employment benefits (OPEB). Due to other Commission funds: During the course of operations, transactions occur between Commission govemmental funds involving goods provided and services rendered. 14 15 Express Lanes Fund Notes to Financial Statements June 30, 2022 Compensated absences: Vacation hours accumulated and not taken at year-end is reported as a long-term liability, net of current portion, in the Fund. Sick leave is recorded as an expense when taken by the employee. El r ployees with continuous five years of service have the option of being paid for sick leave accumulated in excess of 240 hours at a rate of 50% (i.e., one hour's pay for every two hours in excess of 240). Any sick leave in excess of 240 hours is accrued at fiscal year-end, and a liability is reported in the Fund. Pensions: For purposes of measuring the net pension asset and deferred outflows/inflows of resources related to pensions and pension expense, infomnation about the fidudary net position of the Commission's California Public Employees' Retirement System (CaIPERS) plans (Plans) and additions to/deduction from Plans' fidudary net position have been detemined on the same basis as they are reported by CalPERS. For this purpose, benefit payments (induding refunds of employee contributions) are recognized when due and payable in accordance with benefit teals. Investments are reported at fair value. Post -employment benefits other than pensions: For purposes of measuring the net OPEB asset, deferred outflows/inflows of resources related to the OPEB asset and OPEB expense, information about the fidudary net position of the Commission's OPEB plan, and additions to/deductions from the OPEB fidudary net position have been detemined on the same basis as they are reported by California Errployers' Retiree Benefit Trust administered by CaIPERS. For this purpose, benefit payments are recognized when due and payable in accordance with benefit terms. Investments are reported at fair value, except for money markets and participating interest-eaming investment contracts that have a maturity at the time of purchase of one year or less, which is reported at cost. Deferred inflows of resources: In addition to liabilities, the statement of net position reports a separate section for deferred inflows of resources. This separate finandal statement element represents an acquisition of net position that applies to a future period and will not be recognized as an inflow of resources, or revenue, until then. The Fund has deferred inflows of resources related to pension, OPEB, and leases. Risk management: The Fund purchases cahlTerdal property insurance induding business interruption, earthquake, and flood coverage related to the toll facility. Net position: Net position represents the difference between assets plus deferred outflow of resources and liabilities plus deferred inflow of resources and is dassified into two categories: • let investment in capital assets consists of capital and intangible assets, net of accumulated depredation, reduced by the outstanding balances of any borrowings used for the acquisition, construction, or improvement of those assets and exdudes unspent debt proceeds. • Restricted net position represents restricted assets less liabilities related to those assets. Restricted assets are recorded when there are lirritations imposed by creditors (such as through debt covenants). The statement of net position includes restricted net position for the portion of net toll revenues restricted by the 2017 Master Indenture for toll operations. 15 15 Express Lanes Fund Notes to Financial Statements June 30, 2022 Use of estimates: The preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumption that affect certain reported amounts and disdosures during the reporting period. As such, actual results could differ from those estir r>rrtes. Note 3. Cash and Investments Cash and investments are comprised of the fdlowing at June 30, 2022: Cash in bank Investments Wth RCPIF Wth Trustee Total investments Total cash and investments $ 1,483,308 2,828,035 46,950,436 49,778,471 $ 51,261,779 Total rash and investrrents are reported in the financial statements as: Unrestricted cash and investments $ 4,311,343 Restricted cash and investments 46,950,436 Total rash and investments $ 51,261,779 Fair Value Hierarchy: The Commission categorizes its fair value measurements within the fair value hierarchy established by generally accepted accounting principles. The hierarchy is based on the valuation inputs used to measure fair value of the assets. Level 1 inputs are quoted prices in an active market for identical assets; Level 2 inputs are based on similar observable assets either directly or indirectly, which may indude inputs in markets that are not considered to be active; and Level 3 inputs are significant unobservable inputs (the Commission does not value any of its investments using Level 3 inputs). The following is a sur r r nary of the fair value hierarchy of the fair value of investments of the Fund as of June 30, 2022: Investments by fair value level: Investments subject to fair value hierarchy: Mortgage and asset -backed sen rrities U.S. Treasury obligations Ivbney market rrutual funds U.S. agency seri rrities Total investrrents moacured at fair value Investments not subject to fair value hierarchy: RCPI F Total investrrents Fair Value Measurements Usi Quoted Prices in Active Markets for Identical June 30, 2022 Assets (Level 1) Significant Other Observable Inputs (Level 2) $ 4,185,381 $ 10,357,532 31,708,020 699,503 $ 4,185,381 10,357,532 31,708,020 699,503 46,950,436 $ 42,065,552 $ 4,884,884 2,828,035 $ 49,778,471 16 15 Express Lanes Fund Notes to Financial Statements June 30, 2022 Investments dassified in Level 1 of the value hierarchy, valued at $42,065,552 are valued using quoted prices in active markets. Mortgage and asset -backed securities totaling $4,185,381 and U.S. agency securities totaling $699,503 dassified in Level 2 of the fair value hierarchy, are valued using rrratrix pricing techniques maintained by various pricing vendors. Matrix pricing is used to value securities based on the securities' relationship to benchmark quoted prices. Fair value is defined as the quoted market value on the last trading day of the period. These prices are obtained from various pricing sources by the custodian bank. As of June 30, 2022, the Fund has the following investments: Investments Fair Value Principal Intcrc t Rate Range Maturity Range 7/1/22 - 6/30/27 Weighted Average Maturity (Years) RCPT F Held by Trustee Money market mutual funds Mortgage and asset -backed securities U.S. agency senarities U.S. Treasuryobligations Total Investments $ 2,828,035 31,708,020 4,185,381 699,503 10,357,532 $ 2,881,923 0.125%- 4.700% 31,708,020 4,358,911 720,201 10,582,993 $ 49,778,471 $ 50,252,048 0.100 - 0.980% 0.749%-1.234% 0.311% - 3.994% 0.128%-1.806% NIA 7/25/22 - 12/15/42 10/27/23 - 2/28/25 9/30/22 - 3/31/25 Portfolio weighted average 1.190 23 days or 0.063 6.758 1.676 1.396 2.216 The weighted average maturity is calculated using the investment's effective duration weighted by the investment's fair value. As of June 30, 2022, mortgage and asset -backed securities fair value totaled $4,185,381. The underlying assets are consumer receivables that indude credit cards, auto/equipment, and home loans. The sec rites have a fixed interest rate and are rated Aaa/AAA by least two of the three nationally recognized statistical rating organizations. Deposits and withdrawals in the RCPIF are made on the basis of $1.00 (cast basis) and not fair value. Accordingly, the Fund's investment at June 30, 2022 is uncategorized, not defined as Level 1, Level 2, or Level 3 input. Interest rate risk: Wile the Commission does not have a formal policy related to the interest rate risk of investments, the Commission's investment policy fellows the Code as it relates to limits on investment ri raturities as a rreans of managing exposure to fair value losses arising from increasing interest rates. In accordance with the Commission's investment policy, restricted investnents are invested in accordance with the maturity provisions of the specific bond indenture, which may extend beyond five years. Custodial credit risk: Custodial credit risk for deposits is the risk that, in the event of the failure of a depository financial institution, a government will not be able to recover its deposits or will not be able to recover collateral securities that are in the possession of an outside party. The custodial credit risk for investments is the risk that, in the event of the failure of the counterparty (e.g., broker -dealer) to a transaction, a government will not be able to recover the value of its investment or collateral securities that are in the possession of another party. The Commission's investment policy requires that a third party bank trust department hold all securities owned by the Commission. Al trades are settled on a delivery versus payment hasis through the Commission's safekeeping agent. 17 15 Express Lanes Fund Notes to Financial Statements June 30, 2022 The Fund has deposits with a bank balance of $1,483,308 with a financial institution; bank balances over $5,000,000 are swept daily into a money market account. Of the bank balance, up to $250,000 is federally insured under the Federal Depository Insurance Corporation with balances in excess of $250,000 collateralized in accordance with the Code; however, the cdlateralized securities are not held in the name of the Commission. Credit risk: The Commission's investment pdicy as well as the specific bond indentures set ninimum acceptable credit ratings for investments from any of the three nationally recognized statistical rating organizations. The following table is a sum rury of the credit quality distribution and concentration of credit risk by investment type as a percentage of each categorys fair value at June 30, 2022; securities denoted as NR are not rated by one of the nationally recognized statistical rating organizations. Investments Nbody's S&P %of Portfolio RCPI F Aaa-bf AAA/f/S1 5.68% Money market mutual funds Funds A rrf AAAm 63.70% Mortgage and asset backed securities Securities NR AAA 0.42% Securities AAA NR 0.20% Securities NR AA+ 7.79% U.S. agency securities Notes AAA AA+ 0.63% Notes AAA NR 0.78% U.S. Treasuries Traasury NR NR 20.80% Total 100.00% Concentration of credit risk: The Commission's investment pdicy places a limit of 10% on the amount of investment holdings with any one non-U.S. Government or non-federal agency issuer. As of June 30, 2022, the Commission did not have investments in any one issuer that represents more than 5% of the Commission's total investments. 18 15 Express Lanes Fund Notes to Financial Statements June 30, 2022 Note 4. Lease Receivable For the year ended June 30, 2022, the financial statements include the adoption of GASB Statement No. 87, Leases. The primary objective of this statement is to enhance the relevance and consistency of information about the Commission's leasing activities. This statement establishes a single model for lease accounting based on the principle that leap are financings of the right to use an underlying asset. Under this statement, a lessee is required to recognize a lease liability and an intangible right to use lease asset, and a lessor is required to recognize a lease receivable and a deferred inflow of resources. The 15 Express Lanes is the owner of a building within the Qty of Corona which is leased by both Orange County Transportation Authority (OCTA) and the Riverside Transportation Commission (RCTC) 91 Express Lanes. Detailed information for each lease is noted below. Cn November 1, 2019, the Fund entered a 120 -month lease for the use of 301 Corporate Terrace Cirde, Corona, Ca with the Orange County Transportation Authority. An initial lease receivable was recorded in the amount of $379,833. As of June 30, 2022, the value of the lease receivable is $335,578. The lessee is required to make quarterly fixed payments of $12,171. The lease has an interest rate of 1.7670% The value of the deferred inflow of resources as of June 30, 2022 was $330,823 and the Fund recognized lease revenue of $49,011. On November 1, 2019, the Fund entered a 120 -month lease for the use of 301 Corporate Terrace Circle, Corona, Ca with the ROTC 91 Express Lanes Enterprise Fund. An initial lease receivable was recorded in the amount of $379,833. As of June 30, 2022, the value of the lease receivable is $335,578. The lessee is required to make quarterly fixed payments of $12,171. The lease has an interest rate of 1.7670% The value of the deferred inflow of resources as of June 30, 2022 was $330,822 and the Fund recognized lease revenue of $49,011. In accordance with the standard, the principal and interest expected to rrraturity is as fdlovvs: Year ending June 30 2023 2024 2025 2026 2027 2028-2032 Total (ease receivable Principal Interest Total $ 88,805 91,895 95,950 100,077 103,977 190,452 $ 671,156 $ 11,275 9,687 8,037 6,314 4,518 3,396 $ 43,227 $ 714,383 $ 100,080 101,582 103,987 106,391 108,495 193,848 19 15 Express Lanes Fund Notes to Financial Statements June 30, 2022 Capital assets activity for the Fund for the year ended June 30, 2022 is as follows: Balance Capital Balance June 30, 2021 Contributions Additions June 30, 2022 Capital assets not being depredated: Land and land improvements $ 558,405 $ $ - $ 558,405 Construction easements 53,350 - - 53,350 Total capital assets not being depredated 611,755 - - 611,755 Capital assets being depredated and amortized: Toll infrastructure 12,886,278 9,333,706 - 22,219,984 Buildings 6,445,362 - 6,616 6,451,978 Equipment, furniture, and fixtures 101,996 - 9,159 111,155 TdI facility franchise 348,427,816 3,805,223 - 359,233,039 Total capital assets being depredated and amortized 367,861,452 13,138,929 15,775 381,016,156 Less accumulated depredation and amortization for TdI infrastructure (644,314) - (3,160,612) (3,804,926) Buildings (217,663) - (721,722) (939,385) Equipment, furniture, and fixtures (7,358) - (29,433) (36,791) TdI fadlityfranchise (1,742,139) - (6,987,971) (8,730,110) Total accumulated depredation (2,611,474) - (10,899,738) (13,511,212) Total capital assets being depredated and amortized, net 365,249,978 13,138,929 (10,883,963) 367,504,944 Capital assets, net $ 365,861,733 $ 13,138,929 $ (10,883,963) $ 368,116,699 Cry September 29, 2016, the Commission entered into a tdl facilities agreement with Caltrans providing the Corrrrission with authorization to tdl the I-15 from Cajalco Road to SR -60 for 50 years commencing as of the first day on which the 15 Express Lanes open for public use and tdl operations. The agreement also set forth the Commission's rights to Caltrans' right of way and Caltrans' oversight role in the operations and maintenance of the 15 Express Lanes. Note 6. Intertund Transactions dollh Due fromito other Commission funds: The composition of balances related to due from other funds and due to other funds of the Commission at June 30, 2022 is as follows: Payable Fund Receivable Fund Amount Explanation 15 Express Lanes Enterprise fund Commission's General fund 15 Express Lanes Enterprise fund Corrrrission's General fund Total due from (to) other Commssion funds, net $ (72,000) Administrative cost allocation (29,434) Fringe benefits allocation $ (101,434) 20 15 Express Lanes Fund Notes to Financial Statements June 30, 2022 Contributions and transfers to/from other Commission funds: During 2022, contributions and transfers to/from other Corrrrission funds were as follows: Contribution and Transfer Out Contribution and Transfer In Amount Explanation Commission's Governmental activities 15 Express Lanes Enterprise fund Commission's Capital Projects fund Total contributions/transfers in from other Corrrrission funds, net 15 Express Lanes Enterprise fund $ 13,138,929 Commission's Governmental (4,325,708) activities 15 Express Lanes Enterprise fund 35,380 $ 8,848,601 Contribution of capital and intangible assets Transfer of long-term debt proceeds Transfer of reserves for rarrp up toll operations and maintenance Advances from other funds: A Commission governmental fund advanced $9,000,000 to the 15 Express Lanes Fund to establish an $18,000,000 Transportation Infrastructure Finance and Innovation Act (11FIA) debt service rcecrve for the I- 15 Express Lanes project as required no later than June 30, 2024. Capitalized interest on the advance as of June 30, 2022, was $969,509. Repayment of this initial Commission advance is subject to satisfying certain conditions under the related indenture, induding the occurrence of the second anniversary of the 11FIA debt service payment commencement date. Note 7. Long Term Obligations The following is a sur r merry of changes in longterm obligations for the year ended June 30, 2022: Balance Additions / June 30, 2021 Accretion Balance Due Within Reductions June 30, 2022 One Year TIFIA loan $153,605,519 Compensated absences liability 10,831 Total long-term obligations $ 153,616,350 $ 8,968,001 $ (147,009) $ 162,437,342 $ 24,797 $ 8,780,334 $ — $ 162,385,853 $ — 187,667 (147,009) 51,489 24,797 In May 2017, the Corrrrission authorized the issuance and sale of not to exceed $165 million of toll revenue bonds related to the 15 Express Lanes Project The 11 FIA loan is a senior toll revenue bond per the 1-15 Express Lanes Project indenture. 11FIA Loan Agreement: In July 2017, the Commission executed a 11FIA loan of up to $152,214,260, which proceeds financed a portion of the costs for the 1-15 Express Lanes Project. During construction and for a period of up to five years fdlovving substantial completion, interest is compounded and added to the initial 11FIA loan. The TIFIA loan requires mandatory debt service payrrents at a minimum and scheduled debt service payments to the extent additional funds are available. TIFIA debt service payrrents are expected to commence on December 1, 2025, which is five years after substantial completion of the 1-15 Express Lanes Project, through December 1, 2055. The interest rate of the 11FIA loan is 2.84%. During 2022, $4,325,708 was drawn on the TIFIA loan and $4,454,626 in interest vvas compounded. Outstanding $ 162,385,853 21 15 Express Lanes Fund Notes to Financial Statements June 30, 2022 Note 7. Long -Term Obligations, Continued In accordance with the T1FIA loan schedule, the approximate annual debt service requirements to naturity for the TIFIA loan payable throughout the term of the loan are as fellows: Year ending June 30 2026 2027 2028-2032 2033-2037 2038-2042 2043-2047 2048-2052 2053-2055 Total Future corrpounded interest Total 11 FIA loan Principal 2,308,000 14,139,900 21,264,400 35,455,400 60,861,300 42,692,700 Interest $ 5,018,900 5,018,900 25,074,900 24,157,100 21,456,800 18,015,200 11,1^3,800 2,449,600 $ 112,635,200 $ 289,356,900 Total $ 5,018,900 5,018,900 27,382,900 38,297,000 42,721,200 53,470,600 72,305,100 45,142,300 176,721,700 (14,335,800) $ 162,385,900 Pursuant to the 1-15 Express Lanes Project tell indenture the Commission is required to establish the following to support the 15 Express Lanes: • A $16.5 million rarrp-up reserve prior to substantial oorrpletion and oon n encerrent of express lanes operations; • An $18 million TTFIA loan reserve from an advance of Commission Measure A sales tax revenue up to $3 million per year from 2019 through 2024 to the extent that 15 Express lanes revenues are not sufficient to fund the Tl FIA loan reserve; and • Up to a $38.5 million backstop loan from Corrrrission Measure A sales tax revenues of up to $3.85 million per year to the extent 15 Express Lanes revenues are not sufficient to cover operations and maintenance costs, 11 FIA loan mandatory debt service, and TTFIAscheduled interest. Cooperative agreements: In January 2017 the Comrrission entered into a toll operator agreement, for the operations of the 15 Expres' Lanes. The tell operator is responsible for day-to-day operations of the toll collection system The tell operator agreement expires in April 2026. There are five years of extension options available should the Corrrrission elect to use them The toll operator agreement provides operating services to the Commission in the annual amount of $7,755,600 for the first two years of operations. Thereafter, annual amounts will be based on variable pricing. Purchase commitments: The Fund has entered into other agreements in the ordinary course of business with companies and other govemrrental agencies related to operations and maintenance. Thcee agreements, which are significant, are funded with available and future revenues. 22 15 Express Lanes Fund Notes to Financial Statements June 30, 2022 The Fund participates in the Conrrrission's cost -sharing multiple employer defined benefit pension plan administered by the Califomia Public Employees' Retirement System and the Commission's OPEB. Er rployees of the Fund are employees of the Commission as a while. The required note disdosures regarding pension plans and OPEB are induded in the Commission's financial statements. Please see those financial statements for information about the pension plans and OPEB as a while. The net pension asset of $250,886 and net OPEB asset of $101,891, reported by the Fund, represent the Fund's proportional share of the Commission's net pension asset of $6,394,605 and net OPEB asset of $2,597,000. The Fund's net pension and OPEB assets each represent 3.9% of the Commission's net pension and OPEB assets. For the year ended June 30, 2022, the Fund's contributions recognized as part of pension and OPEB expense were ($501,368) and ($69,763), respectively. Note 10. Adoption of GASB Statement No. 87, Leases As of July 1, 2021, the Fund adopted GASB Statement No. 87, Leases. The Statement requires recognition of certain lease assets and liabilities for leases that previously were classified as operating leascs and recognized as inflows of resources or outflows of resources based on the payment provisions of the contract. Beginning balances of lease receivables, assets, liabilities, and deferred inflows were restated to adopt the provisions of GASB Statement No. 87, Leases as fellows: Net position / fund balance at July 1, 2021, as previously reported Recognition of right to use lease asset Recognition of lease receivable Recognition of lease liability Recognition of deferred inflows from leases Net position / fund balance at July 1, 2021, as adjusted $ 231,197,152 759,667 (759,667) $ 231,197,152 The GASB pronouncements issued prior to June 30, 2022 that have an effective date that may impact future financial presentations include: • GASB Statement No. 91, Conduit Debt Obligations, effective for fiscal years beginning after December 31, 2022; • GASB Statement No. 94, Public -Private and Public -Public Partnerships and Availability Payment Arrangerrents, effective for the fiscal year that ends June 30, 2023; • GASB Statement No. 96, Subscription -Based Information Technology Arrangements, effective for the fiscal year that ends June 30, 2023; • GASB Statement No. 99, Orrnibus 2022 (The requirements related to extension of the use of UBOR accounting for SNAP distributions, disdosures of nonrrpnetary transactions, pledges of future revenues by pledging govemments, clarification of certain provisions in Statement 34, as amended, and temindogy updates related to Statement 53 and Statement 63 are effective upon issuance.), effective for fiscal years beginning after June 15, 2022; • GASB Statement No. 100, Accounting Changes and Error Corrections, effective for fiscal years beginning after June 15, 2023; and • GASB Statement No. 101, Corrpensated Absences, effective for fiscal year ending June 30, 2024. 23 ATTACHMENT 10 EideBailly CPAs & BUSINESS ADVISORS Independent Auditor's Report on Compliance With Aspects of Contractual Agreements Board of Commissioners Riverside County Transportation Commission Riverside, California We have audited, in accordance with auditing standards generally accepted in the United States of America the financial statements of the Riverside County Transportation Commission (Commission) as of and for the year ended June 30, 2022, and the related notes to the financial statements, which collectively comprise the Commission's basic financial statements, and have issued our report thereon dated October 31, 2022. In connection with our audit, nothing came to our attention that caused us to believe that the Commission failed to comply with the terms, covenants, provisions or conditions of Sections 6.2(g) and 6.2(1) contained in the Reimbursement Agreement, dated October 1, 2014, with State Street Bank and Trust Company, a wholly -owned subsidiary of State Street Corporation, related to the Commercial Paper Notes (Limited Tax Bonds) Series A, insofar as they relate to accounting matters. However, our audit was not directed primarily toward obtaining knowledge of such noncompliance. Accordingly, had we performed additional procedures, other matters may have come to our attention regarding the Commission's noncompliance with the above -referenced terms, covenants, provisions or conditions of the Reimbursement Agreement, insofar as they relate to accounting matters. The report is intended solely for the information and use of the Board of Commissioners and management of the Commission and State Street Bank and Trust Company and is not intended to be, and should not be, used by anyone other than these specified parties. Rancho Cucamonga, California October 31, 2022 What inspires you, inspires us. eidebailly.com 1 10681 Foothill Blvd., Ste. 300 Rancho Cucamonga, CA 91730-3831 T 909.466.4410 F 909.466.4431 EOE ATTACHMENT 11 EideBailly CPAs & BUSINESS ADVISORS October 31, 2022 To the Audit Ad Hoc Committee Riverside County Transportation Commission Riverside, California We have audited the financial statements of Riverside County Transportation Commission (Commission), as of and for the year ended June 30, 2022, and have issued our report thereon dated as indicated below: Report Annual Comprehensive Financial Report (ACFR) RCTC 91 Express Lanes Fund RCTC 15 Express Lanes Fund State Transit Assistance Fund Local Transportation Fund State of Good Repair Fund Proposition 1B Rehabilitation, Safety and Security Project Accounts, Accounts Low Carbon Transit Operations Program Account Single Audit Audit Report Date October 31, 2022 October 31, 2022 October 31, 2022 October 31, 2022 October 31, 2022 October 31, 2022 October 31, 2022 October 31, 2022 October 31, 2022 Professional standards require that we advise you of the following matters relating to our audit. Our Responsibility in Relation to the Financial Statement Audit under Generally Accepted Auditing Standards and Government Auditing Standards and our Compliance Audit under the Uniform Guidance As communicated in our letter dated June 20, 2022, our responsibility, as described by professional standards, is to form and express an opinion about whether the financial statements that have been prepared by management with your oversight are presented fairly, in all material respects, in accordance with accounting principles generally accepted in the United States of America and to express an opinion on whether the Commission complied with the types of compliance requirements described in the OMB Compliance Supplement that could have a direct and material effect on each of the Commission's major federal programs. Our audit of the financial statements and major program compliance does not relieve you or management of its respective responsibilities. Our responsibility, as prescribed by professional standards, is to plan and perform our audit to obtain reasonable, rather than absolute, assurance about whether the financial statements are free of material misstatement. An audit of financial statements includes consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control over financial reporting. Accordingly, as part of our audit, we considered the internal control of the Commission solely for the purpose of determining our audit procedures and not to provide any assurance concerning such internal control. What inspires you, inspires us. eidebailly.com 1 10681 Foothill Blvd., Ste. 300 Rancho Cucamonga, CA 91730-3831 T 909.466.4410 F 909.466.4431 EOE Our responsibility, as prescribed by professional standards as it relates to the audit of the Commission's major federal program compliance, is to express an opinion on the compliance for each of the Commission's major federal programs based on our audit of the types of compliance requirements referred to above. An audit of major program compliance includes consideration of internal control over compliance with the types of compliance requirements referred to above as a basis for designing audit procedures that are appropriate in the circumstances and to test and report on internal control over compliance in accordance with the Uniform Guidance, but not for the purpose of expressing an opinion on the effectiveness of internal control over compliance. Accordingly, as a part of our major program compliance audit, we considered internal control over compliance for these purposes and not to provide any assurance on the effectiveness of the Commission's internal control over compliance. We are also responsible for communicating significant matters related to the audit that are, in our professional judgment, relevant to your responsibilities in overseeing the financial reporting process. However, we are not required to design procedures for the purpose of identifying other matters to communicate to you. We have provided our comments regarding internal controls during our audit in our Independent Auditor's Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards dated October 31, 2022. We have also provided our comments regarding compliance with the types of compliance requirements referred to above and internal controls over compliance during our audit in our Independent Auditor's Report on Compliance with Each Major Federal Program and Report on Internal Control Over Compliance Required by the Uniform Guidance dated October 31, 2022. Planned Scope and Timing of the Audit We conducted our audit consistent with the planned scope and timing we previously communicated to you. Compliance with All Ethics Requirements Regarding Independence The engagement team, others in our firm, as appropriate, our firm, and other firms utilized in the engagement, if applicable, have complied with all relevant ethical requirements regarding independence. Significant Risks Identified As stated in our auditor's report, professional standards require us to design our audit to provide reasonable assurance that the financial statements are free of material misstatement whether caused by fraud or error. In designing our audit procedures, professional standards require us to evaluate the financial statements and assess the risk that a material misstatement could occur. Areas that are potentially more susceptible to misstatements, and thereby require special audit considerations, are designated as "significant risks". We have identified the following as significant risks. • Management override • Revenue recognition • Leases • Toll refunding bonds 2 Qualitative Aspects of the Entity's Significant Accounting Practices Significant Accounting Policies Management has the responsibility to select and use appropriate accounting policies. A summary of the significant accounting policies adopted by the Commission is included in Note 1 to the financial statements. As described in Note 14, the Commission changed accounting policies related to accounting for leases to adopt the provisions of GASB Statement No. 87, Leases. Accordingly, the accounting change has been retrospectively applied to the financial statements beginning July 1, 2021. No matters have come to our attention that would require us, under professional standards, to inform you about (1) the methods used to account for significant unusual transactions and (2) the effect of significant accounting policies in controversial or emerging areas for which there is a lack of authoritative guidance or consensus. Significant Accounting Estimates Accounting estimates are an integral part of the financial statements prepared by management and are based on management's current judgments. Those judgments are normally based on knowledge and experience about past and current events and assumptions about future events. Certain accounting estimates are particularly sensitive because of their significance to the financial statements and because of the possibility that future events affecting them may differ markedly from management's current judgments. The most sensitive accounting estimates affecting the financial statements are: • Net pension assets and net other postemployment benefits (OPEB) assets, disclosures, and related deferred inflows/outflows and expenses are based on actuarial valuations which include assumptions adopted by the California Public Employees' Retirement System (CaIPERS) and the Commission. We evaluated the key factors and assumptions used to develop these estimates and determined that they are reasonable in relation to the basic financial statements taken as a whole. Financial Statement Disclosures Certain financial statement disclosures involve significant judgment and are particularly sensitive because of their significance to financial statement users. The most sensitive disclosures affecting Commission's financial statements relate to: • Net Pension assets and Net OPEB assets in Notes 11 and 12, respectively, are sensitive to the underlying actuarial assumptions used including, but not limited to, the investment rate of return and discount rate. As disclosed in Notes 11 and 12, a 1% increase or decrease in the discount rate has a significant effect on the pension and OPEB liabilities/assets. Significant Difficulties Encountered during the Audit We encountered no significant difficulties in dealing with management relating to the performance of the audit. 3 Uncorrected and Corrected Misstatements For purposes of this communication, professional standards require us to accumulate all known and likely misstatements identified during the audit, other than those that we believe are trivial, and communicate them to the appropriate level of management. Further, professional standards require us to also communicate the effect of uncorrected misstatements related to prior periods on the relevant classes of transactions, account balances or disclosures, and the financial statements as a whole. Uncorrected misstatements or matters underlying those uncorrected misstatements could potentially cause future -period financial statements to be materially misstated, even though the uncorrected misstatements are immaterial to the financial statements currently under audit. The following summarizes uncorrected financial statement misstatements whose effects in the current and prior periods, as determined by management, are immaterial, both individually and in the aggregate, to the financial statements taken as a whole. Governmental Activities Overstatement of Lease Liabilities $2,166,420 Overstatement of Right -To -Use Assets 2,075,148 Overstatement of expense 91,272 The effect of these uncorrected misstatements, including the effect of the reversal of prior year uncorrected misstatements as of and for the year ended June 30, 2022, is an understatement of net position of $91,272. Schedule of Expenditures of Federal Awards (SEFA) The SEFA for the year ended June 30, 2022 included expenditures of $5,262,145 that were incurred in fiscal years ended June 30, 2021 and June 30, 2020. These expenditures were deemed eligible for reimbursement by the Commission during fiscal year 2022. Disagreements with Management For purposes of this letter, professional standards define a disagreement with management as a matter, whether or not resolved to our satisfaction, concerning a financial accounting, reporting, or auditing matter, which could be significant to the financial statements or the auditor's report. No such disagreements arose during the course of the audit. Circumstances that Affect the Form and Content of the Auditor's Report For purposes of this letter, professional standards require that we communicate any circumstances that affect the form and content of our auditor's report. As described in Note 14 to the financial statements, due to the adoption of GASB Statement No. 87, Leases, the Commission restated opening balances as of July 1, 2021. We have included an emphasis of matter in our report regarding this restatement. Representations Requested from Management We have requested certain written representations from management which are included in the management representation letter dated October 31, 2022. 4 Management's Consultations with Other Accountants In some cases, management may decide to consult with other accountants about auditing and accounting matters. Management informed us that, and to our knowledge, there were no consultations with other accountants regarding auditing and accounting matters. Other Significant Matters, Findings, or Issues In the normal course of our professional association with the Commission, we generally discuss a variety of matters, including the application of accounting principles and auditing standards, significant events or transactions that occurred during the year, operating conditions affecting the entity, and operating plans and strategies that may affect the risks of material misstatement. None of the matters discussed resulted in a condition to our retention as Commission's auditors. Other Information Included in Annual Reports Pursuant to professional standards, our responsibility as auditors for other information, whether financial or nonfinancial, included in the Commission's annual reports, does not extend beyond the financial information identified in the audit report, and we are not required to perform any procedures to corroborate such other information. Additionally, in accordance with such standards, we have read the introductory and statistical sections of the Commission's annual report and considered whether such information, or the manner of its presentation was materially inconsistent with its presentation in the financial statements. Our responsibility also includes communicating to you any information which we believe is a material misstatement of fact. Nothing came to our attention that caused us to believe that such information, or its manner of presentation, is materially inconsistent with the information, or manner of its presentation, appearing in the financial statements. Group Audits The financial statements include the financial statements of the Service Authority for Freeway Emergencies (SAFE), a blended component unit of the Commission, which for the purposes of our audit we do not consider to be a significant component within the financial statements. Consistent with the audit of the financial statements as a whole, our audit included obtaining an understanding of SAFE and its environment, including internal control, sufficient to assess the risks of material misstatement of the financial statements and completion of further audit procedures. This report is intended solely for the information and use of the Board of Commissioners, the Audit Ad Hoc Committee, and management of the Commission and is not intended to be, and should not be, used by anyone other than these specified parties. Rancho Cucamonga, California 5 ATTACHMENT 12 EideBailly CPAs & BUSINESS ADVISORS Independent Accountant's Report on the Article XII-B Appropriations Limit Calculation Board of Commissioners Riverside County Transportation Commission Riverside, California We have performed the procedures enumerated below, on the Appropriations Limit Calculation of the Riverside County Transportation Commission (Commission) prepared in accordance with Article XIII-B of the California Constitution for the fiscal year ended June 30, 2022. The Commission's management is responsible for the Appropriations Limit Calculation. The Commission has agreed to and acknowledged that the procedures performed are appropriate to meet the intended purpose of evaluating the Appropriations Limit Calculation and we will report on findings based on the procedures performed. This report may not be suitable for any other purpose. The procedures performed may not address all the items of interest to a user of this report and may not meet the needs of all users of this report and, as such, users are responsible for determining whether the procedures performed are appropriate for their purposes. The procedures and the associated findings are as follows: 1. We obtained the completed worksheets setting forth the calculations necessary to establish the Commission's 2021-22 appropriations limit and compared the limit and annual adjustment factors included in those worksheets to the limit and annual adjustment factors that were adopted by resolution of the Board of Commissioners. We also compared the population and inflation options included in the aforementioned worksheets to those that were selected by a recorded vote of the Board of Commissioners. Finding: No exceptions were found as a result of this procedure. 2. We added last year's limit to the annual adjustment amount and compared the resulting amount to the 2021-22 appropriations limit. Finding: No exceptions were found as a result of this procedure. 3. We compared the current year information to the worksheets described in Procedure 1 above and to information provided by the California State Department of Finance. Finding: No exceptions were found as a result of this procedure. What inspires you, inspires us. eidebailly.com 1 10681 Foothill Blvd., Ste. 300 Rancho Cucamonga, CA 91730-3831 T 909.466.4410 F 909.466.4431 EOE 4. We agreed the prior year appropriations limit to the prior year appropriations limit adopted by the Board of Commissioners. Finding: No exceptions were found as a result of this procedure. We were engaged by the Commission to perform this agreed -upon procedures engagement and conducted our engagement in accordance with attestation standards established by the American Institute of Certified Public Accountants. We were not engaged to and did not conduct an examination or review, the objective of which would be the expression of an opinion or conclusion, respectively, on the Appropriations Limit Calculation. Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you. We are required to be independent of the Commission and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements related to our agreed -upon procedures engagement. No procedures have been performed with respect to the determination of the appropriation limit for the base year, as defined by Article XIII-B of the California Constitution. This report is intended solely for the information and use of the Board of Commissioners and management of the Commission and is not intended to be and should not be used by anyone other than these specified parties. Rancho Cucamonga, California October 31, 2022 2 ATTACHMENT 13 Measure A Commuter Assistance Program Agreed -Upon Procedures June 30, 2022 Riverside County Transportation Commission EideBai11y eidebailly.com Riverside County Transportation Commission Measure A Commuter Assistance Program Table of Contents June 30, 2022 Independent Accountant's Agreed -Upon Procedures Report 1 Schedule of Selected Purchases of Gift Cards by the Contractor 4 Schedule of Selected Employee Incentive Payments Made by the Contractor 5 EideBailly CPAs & BUSINESS ADVISORS Independent Accountant's Agreed -Upon Procedures Report To the Board of Commissioners Riverside County Transportation Commission Riverside, California We have performed the procedures enumerated below, on certain requirements of the Riverside County Transportation Commission's (Commission or RCTC) agreement with William Sale Partnership USA Inc. (WSP) to administer its Measure A Commuter Assistance Program (Program) for the year ended June 30, 2022. The Commission's management is responsible for the administration and operation of the Program. As background information for this engagement to perform agreed -upon procedures, we were provided with: Resolution No. 03-025, Resolution of the Commission Amending Guidelines for the administration of the Measure A funded Commuter Incentive Programs, and Agreement No.15-41-038-00, Agreement for Commuter Assistance Program Graphic Design and Program Administration Services between WSP USA Inc. and the Commission, entered into as of June 1, 2015 for the period of June 1, 2015 to June 30, 2022, as amended per Amendments Nos. 1 to 5, and the Inland Empire (IE) Commuter Incentives Programs and Processes Standard Operating Procedures. In addition, we received an explanation of the WSP registration process with the employer and employee from staff at WSP. The Commission has agreed to and acknowledged that the procedures performed are appropriate to meet the intended purpose of assessing WSP's compliance with the agreement and we will report on findings based on the procedures performed. This report may not be suitable for any other purpose. The procedures performed may not address all the items of interest to a user of this report and may not meet the needs of all users of this report and, as such, users are responsible for determining whether the procedures performed are appropriate for their purposes. The procedures and the associated findings are as follows: 1. Obtain an understanding of the Administration of the Measure A Commuter Assistance Program by reading Resolution No. 03-025, Resolution of the Commission Amending Guidelines for the Administration of the Measure A Funded Commuter Incentive Program. Finding: No exceptions were found as a result of performing this procedure. What inspires you, inspires us. eidebailly.com 1 10681 Foothill Blvd., Ste. 300 Rancho Cucamonga, CA 91730-3831 T 909.466.4410 F 909.466.4431 EOE 2. Obtain a listing of all disbursements to vendors and invoiced to the Commission for reimbursement by WSP for the purchase of gift cards for the year ending June 30, 2022, and haphazardly select a sample of 10 items for the year for the testing and report any findings (see Exhibit 1). The procedures related to Exhibit 1 are as follows: a. Agree the amount recorded as disbursed by WSP to checks or proof of payment. b. Agree the amount recorded as itemized in WSP invoices to the Commission's accounting records. c. Agree the amount recorded and the payee on the Check Request Register to the log of requested gift cards maintained by WSP. Finding: We noted there were 3 purchases made from the following vendors: Stater Bros, Wal-Mart, and Amazon. No exceptions were found as a result of performing these procedures. 3. Obtain the "Commission Payments by Employer" reports that list recorded disbursements made to recipients by WSP for the year and haphazardly select a sample of 10 items for the year for testing and report any findings (see Exhibit 2). Our procedures and findings related to Exhibit 2 are as follows: a. Determine that the employer was registered by inspecting the Employer Partnership Agreement (EPA). b. Determine that the employee was registered by inspecting the Incentive Application Form (Application). c. Agree WSP's disbursements to the Application and note proper approval of the Application. d. Recalculate the number of days the employee participated in each rideshare mode and the incentive earned for each rideshare mode and agree those totals to the amounts listed on the monthly incentive claim form in order to mathematically test the monthly claim form. e. Agree the daily amount per mode of transportation to the amount approved in the EPA. f. Agree the recorded disbursement amount per the WSP Incentive Payment Report to the employer transmittal letter. Finding: We noted that in one instance, the incentive amount was calculated at $130, however the employee was provided gift cards in the amount of $125, resulting in a $5 underpayment. The noted exception pertains to the SW Distribution Center employer on Exhibit 2. No other exceptions were noted. 4. Compare WSP's total gift card inventory balance as of June 30, 2022, to the inventory schedule which denotes the amount of gift cards on hand at that date and report the results. In addition, 100% of the gift cards as reported on the inventory schedule on June 30, 2022, will be selected for recount. Finding: We met with the WSP Incentive Specialist virtually to conduct a gift card inventory of gift cards for RCTC and the San Bernardino County Transportation Authority (SBCTA) (both funded by RCTC). No exceptions were found as a result of performing this procedure. Amazon Stater Bros. Target Wal-Mart Total RCTC Advantage Rideshare Program $ 11,545 $ 10,925 $ 6,330 $ 12,075 $ 40,875 SBCTA Option Rideshare Program 13,750 5,135 6,270 14,745 39,900 $ 80,775 2 5. Confirm that the storage and security of gift cards by WSP is consistent with IE Commuter Standard Operating Procedures. Finding: The Incentives Programs and Processes Standard Operating Procedures note that gift cards are secured in a safe. Monthly, the gift cards are manually counted by the Incentives Specialist and Manager where they are logged on the Monthly Inventory Spreadsheet. No exceptions were found as a result of performing these procedures. We were engaged by the Commission to perform this agreed -upon procedures engagement and conducted our engagement in accordance with attestation standards established by the American Institute of Certified Public Accountants. We were not engaged to and did not conduct an examination or review, the objective of which would be the expression of an opinion or conclusion, respectively, on compliance with the Commission's agreement with WSP to administer the Program. Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you. We are required to be independent of the Commission and WSP and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements related to our agreed -upon procedures engagement. This report is intended solely for the information and use of the Board of Commissioners and management of the Commission and is not intended to be and should not be used by anyone other than these specified parties. Rancho Cucamonga, California October 31, 2022 3 Exhibit 1 Riverside County Transportation Commission Measure A Commuter Assistance Program Schedule of Selected Purchases of Gift Cards by the Contractor Fiscal Year Ended June 30, 2022 Voucher Date Project Vendor Check Number Amount 02/23/2022 IE Commuter Incentive Program Amazon 02162022 $ 26,600 08/17/2021 IE Commuter Incentive Program Stater Bros* 4044917 $ 13,231 02/16/2022 IE Commuter Incentive Program Wal-Mart 02142022 $ 20,800 * Gross amount of the script received was $14,075. 4 Exhibit 2 Riverside County Transportation Commission Measure A Commuter Assistance Program Schedule of Selected Employee Incentive Payments Made by the Contractor Fiscal Year Ended June 30, 2022 Employer Name Participant Incentive Disbursement Commute Initials Type Date Mode Amount Loma Linda University Health (LLUH) J.L. Stater Bros 10/15/2021 Carpool $ 130.00 SW Distribution Center A.B. Walmart 9/30/2021 Carpool $ 125.00 Harris Corporation T.R. Stater Bros 7/20/2021 Vanpool $ 105.00 County of Riverside D.C. Amazon 11/18/2021 Carpool $ 90.00 Superior Courts of Riverside S.R. Amazon 12/22/2021 Carpool $ 125.00 City of Fontana J.S. Target 1/26/2022 Carpool $ 100.00 City of Riverside F.M. Amazon 5/31/2022 Bike $ 65.00 County of San Bernardino P.S. Amazon 4/13/2022 Carpool $ 5.00 Riverside County Transportation Commission F.G. Amazon 3/16/2022 Carpool $ 35.00 Pechanga Resort Casino R.C. Amazon 2/17/2022 Walk $ 130.00 5 ATTACHMENT 14 RIVERSIDE COUNTY TRANSPORTATION COMMISSION October 31, 2022 4080 Lemon Street, 3rd Floor • Riverside, CA Mailing Address: P.O. Box 12008 • Riverside, CA 92502.2208 951.787.7141 • 951.787.7920 • www.rctc.org Board of Commissioners Riverside County Transportation Commission Riverside, California The Annual Comprehensive Financial Report (ACFR) of the Riverside County Transportation Commission (Commission) for the year ended June 30, 2022 is hereby submitted for your receipt and acceptance. The ACFR is presented in three sections consisting of Introductory, Financial, and Statistical. The Financial Section includes the audited financial statements and other supplementary information and the independent auditor's report on those financial statements. Management of the Commission is responsible for the financial statements and other information presented in the ACFR. As the Executive Director and Chief Financial Officer of the Commission, we have reviewed the ACFR for the year ended June 30, 2022. Based on our knowledge, the ACFR does not contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements made in the ACFR not misleading with respect to the period covered by the ACFR. Additionally, based on our knowledge, the financial statements and other financial information included in the ACFR fairly present in all material respects the financial condition and results of operations of the Commission as of and for the year ended June 30, 2022. Anne Mayer, Executi 'rector Sergio Vidal, Chief Financial Officer ATTACHMENT 15 RIVERSIDE COUNTY TRANSPORTATION COMMISSION October 31, 2022 4080 Lemon Street, 3rd Floor • Riverside, CA Mailing Address: P.O. Box 12008 • Riverside, CA 92502-2208 951.787.7141 • 951.787.7920 • www.rctc.org Board of Commissioners Riverside County Transportation Commission Riverside, California In connection with the submission of the Annual Comprehensive Financial Report (ACFR) of the Riverside County Transportation Commission (Commission) for the year ended June 30, 2022, as the management and Directors of the Commission, we understand that we are responsible for the operations and activities of the Commission's programs, projects, and administration. Accordingly, we hereby make the following representations based upon our knowledge. We are responsible for establishing and maintaining controls and procedures related to these operations and activities. We have designed such controls and procedures to ensure that material information is made known to us, particularly during the year ended June 30, 2022. The controls and procedures have been effective for the year ended June 30, 2022 and through the date of this letter. There have been and are no significant deficiencies in the design or operation of internal controls regarding financial reporting for the same period which could adversely affect the Commission's ability to record, process, summarize and report financial data. There have been and are no material weaknesses in internal controls. There have been no significant changes in internal control or in other factors that could significantly affect internal controls subsequent to June 30, 2022. Management also recognizes its responsibility for fostering a strong ethical climate so that the Commission's affairs are conducted according to the highest standards of personal and organizational conduct. In connection with this responsibility, we are not aware of any fraud, whether or not material, that involves management or other e • ees who have a significant role in the Commission's internal control. Sergio Vidal, Chief Financial Officer L l Aarn Hake, Deputy Execu 've Director Jil li. n Guizado, Planning sj . Programming Director Lofelle Moe -Luna, Multimodal Services Director David Thomas, Toll Project Delivery Director Jenni'r Crosson, Toll Operations Director Davi nudsen, Interim External Affairs Director w> EideBailly® CPAs & BUSINESS ADVISORS RIVERSIDE COUNTY TRANSPORTATION COMMISSION Communication With Those Charged With Governance November 28, 2022 AUDIT SERVICES • Audits of the following: • Annual Comprehensive Financial Report (Annual Report) • 91 Express Lanes Fund • 15 Express Lanes Fund • Local Transportation Fund (LTF) • State Transit Assistance Fund (STAF) • State of Good Repair Fund (SGR) • Proposition 1B Rehabilitation, Safety, and Security Project Accounts (Proposition 1 B) • Low Carbon Transit Operations Program (LCTOP) Account • Audit report on compliance over major federal programs, schedule of expenditures of federal awards and internal control in accordance with 2 CFR 200 (Single Audit) • Reports on internal control over financial reporting and on compliance in accordance with Government Auditing Standards • Report on compliance with aspects of contractual agreements — Commercial Paper • Perform Agreed Upon Procedures (AUP) on the following: • Appropriations Limit Calculation • Measure A Commuter Assistance Program OUR RESPONSIBILITY IN ACCORDANCE WITH PROFESSIONAL STANDARDS • Form and express an opinion about whether the financial statements which are the responsibility of management, with your oversight, are presented fairly, in all material respects, in accordance with U.S. GAAP. • Express an opinion as to whether RCTC complied with direct and material compliance requirements described in the OMB Compliance Supplement for major federal programs. • Our responsibility is to plan and perform our audit to obtain reasonable, rather than absolute, assurance about whether the financial statements are free of material misstatement. • We considered internal control over financial reporting and over direct and material compliance requirements for major federal programs. Such considerations were solely for the purpose of determining our audit procedures and not to provide any assurance concerning such internal control. SUMMARY OF AUDIT RESULTS Financial Statements • Unmodified opinion on the Commission's Annual Report and stand-alone reports Government Auditing Standards • No material weaknesses or significant deficiencies were reported Single Audit • Unmodified opinion on compliance • No material weaknesses, significant deficiencies or compliance findings were reported AUDITOR COMMUNICATIONS Ethics and Independence • We have complied with all relevant ethical requirements regarding independence. Significant Accounting Policies • Summary of significant accounting polices — Note 1 • Adopted GASB 87, Leases, effective July 1, 2021- Note 14 Significant Risks Identified • Management Override • Revenue Recognition • Leases • Toll Refunding Bonds AUDITOR COMMUNICATIONS Significant Estimates/ Sensitive Disclosures • Net Pension Liability (Note 1 1) • Net Other Postemployment Benefit (OPEB) Asset (Note 1 2) Uncorrected Misstatements • Governmental Activities -Overstatement of lease liabilities and right -to -use assets of $2.1 million and $2 million, respectively. Net impact on net position and expenses is $91 thousand. • Schedule of Expenditures of Federal Awards - $5.2 million of federal expenditures reported in the current year were for expenditures incurred in prior years. These expenditures were deemed eligible for reimbursements during the current year. AUDITOR COMMUNICATIONS Significant Difficulties • We encountered no significant difficulties in dealing with management. Disagreements with Management • No disagreements arose during the course of the audit. THANK YOU Roger Alfaro Partner ralfaro@eidebailly.com 909.466.4410 EideBailly CPAs & BUSINESS ADVISORS This presentation is presented with the understanding that the information contained does not constitute legal, accounting or other professional advice. It is not intended to be responsive to any individual situation or concerns, as the contents of this presentation are intended for general information purposes only. Viewers are urged not to act upon the information contained in this presentation without first consulting competent legal, accounting or other professional advice regarding implications of a particular factual situation. Questions and additional information can be submitted to your Eide Bailly representative, or to the presenter of this session. AGENDA ITEM 6F RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: December 14, 2022 TO: Riverside County Transportation Commission FROM: Budget and Implementation Committee Michele Cisneros, Deputy Director of Finance THROUGH: Anne Mayer, Executive Director SUBJECT: Quarterly Financial Statements BUDGET AND IMPLEMENTATION COMMITTEE AND STAFF RECOMMENDATION: This item is for the Commission to: 1) Receive and file the Quarterly Financial Statements for the three months ended September 30, 2022. BACKGROUND INFORMATION: During the first three months of the fiscal year, staff monitored the revenues and expenditures of the Commission. The first quarter of the fiscal year is primarily directed toward completing fiscal year-end activities for the prior year. Staff expects most categories to present a more realistic outlook beginning in the second quarter. The operating statement shows the Measure A and Local Transportation Fund (LTF) sales tax revenues for the first quarter at 8 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 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 July 2022. On a cash basis, the Measure A and LTF sales tax receipts are 0.24 and 8.75 percent higher, respectively, than the same period last fiscal year. State Transit Assistance revenues, including State of Good Repair for the first quarter of Fiscal Year 2022/23, are expected to be received in the second quarter of FY 2022/23. Staff will continue to monitor the trends in the sales taxes and report to the Commission any necessary adjustments in revenue projections. 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 Agenda Item 6F 112 the respective agencies. The negative revenue amounts for federal, state, and local reimbursements reflect the reversal of the FY 2021/22 accrued revenues at the beginning of FY 2022/23 in excess of amounts billed during the first quarter. Reimbursement invoices for expenditures for the first quarter will be prepared and submitted in the second quarter. During the FY 2022/23 budget process, the Commission estimated the Transportation Uniform Mitigation Fee (TUMF) revenues at $31 million passed through from Western Riverside Council of Governments. During the first quarter of FY 2022/23, the Commission received TUMF revenues for the month of July of $2.2 million. The Commission expects to receive the August and September TUMF revenues in the second quarter. The RCTC 91 Express Lanes and 15 Express Lanes toll revenues, penalties, and fees are at $15,426,898 and $4,587,511, respectively, totaling $20,014,409 for the first quarter of FY 2022/23. The operating statement shows toll revenues, penalties, and fees at 20 percent of the budget. This reflects periodic toll rate changes made based on traffic volumes according to the approved toll policy on the RCTC 91 Express Lanes. Staff will continue to monitor the toll transactions and/or trips and non -toll revenues. The operating statement shows other revenues at 23 percent of the $707,000 budget and reflects property management lease revenues. During the FY 2022/23 budget process, the Commission conservatively estimated investment income at $1,168,400 due to interest rate volatility in the current market. The operating statement shows investment income, which includes net unrealized investment gains and losses at $(961,328). The expenditures/expenses and other financing sources/uses categories are in line overall with the expectations with the following exceptions: • Salaries and benefits are under budget primarily due to unfilled positions for an Accounting Supervisor, Accounting Technician, IT Administrator, three Senior Management Analysts, Management Analyst, two Senior Capital Projects Manager, Regional Conservation Director, and Reserve Management/Monitoring Manager; • Professional services are under budget primarily due to unused budget authority for general legal services; financial advisory services; rail operations and development activities; and highway, commuter assistance, and specialized transportation other professional services; • Support costs are under budget due to unused budget authority for rail station maintenance, repairs, and utilities; express lanes operations and maintenance; call box maintenance and repairs; and software and computer maintenance and repairs; • Program operations are under budget due to unused budget authority for rail station security; toll operations; motorist and commuter assistance program operations; and highway and rail program management; Agenda Item 6F 113 • The status of significant Commission capital projects (engineering, construction, design - build, and right of way/land) with budget amounts exceeding $5 million is discussed within Attachment 1; • Operating and capital disbursements are made as claims are submitted to the Commission by transit operators; • Special studies unused budget authority is related to feasibility studies; • Local street and roads expenditures are related to Measure A sales tax revenues. These financial statements reflect the turnback payments through July 2022; • Regional arterial expenditures represent expenditures for the highway and regional arterial program administered by the 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. In accordance with the applicable accounting standards related to the Enterprise funds, both the RCTC 91 and 15 Express Lanes Enterprise funds record accrued and compounded interest on its related debt such as the RCTC 91 Express Lanes 2021 Toll Refunding Bonds and 2013 Toll Revenue Bonds, Series B capital appreciation bonds for the 91 Project as well as the Transportation Infrastructure Finance and Innovation Act (TIFIA) loan for the 15 Express Lanes project. Therefore, $L3 million of the $6.9 million interest cost through the first quarter will not be paid in the current year for the RCTC 91 and 15 Express Lanes Enterprise funds and therefore, not included in the FY 2022/23 budget; • Capital outlay expenditures are under budget due to unused budget authority for office and property improvements for station rehabilitation, toll operations equipment, and Commission office, network, hardware, and software improvements; • Depreciation is recorded as part of the accrual adjustments in the RCTC 91 and 15 Express Lanes Enterprise funds accounting records; however, depreciation is considered a non -cash transaction and not included in the FY 2022/23 budget; and • Transfers in and out include the first quarter administrative cost allocation process, Measure A Sales Tax Bonds debt funding, and LTF disbursements for planning and programming activities. FISCAL IMPACT: This is an information item. There is no fiscal impact. Attachments: 1) Quarterly Project Status — September 2022 2) Quarterly Financial Statements — September 2022 Agenda Item 6F 114 ATTACHMENT 1 RIVERSIDE COUNTY TRANSPORTATION COMMISSION QUARTERLY PROJECT STATUS 1St QUARTER FOR THREE MONTHS ENDED 9/30/2022 Project Description FY 2022/23 through 15t Quarter Budget Expenditures through 1St Quarter Actuals 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 2022/23 budget amount is $15,359,000. 91 Express Lanes (P009103 & P009104) These projects provide repair and rehabilitation of SR -91 general purpose and express lanes, as well as the implementation of a new back -office system. The FY2022/23 budget amount is $13,741,600. 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 2022/23 budget amount is $5,121,300. $202,100 $(1,860,508) 3,180,400 1,181,300 1,353,267 The under run of the FY 2022/23 budget at the first quarter is due to an accrual reversal for the Army Corps of Engineering Reach 9 project ($1.7 million) and an accrual reversal for plant establishment from the design builder ($0.3 million). The under run of the FY 2022/23 budget at the first quarter is due lower than anticipated expended costs for Phase 2 corridor improvements ($1.5 million) and associated project construction management ($0.2 million), and an accrual reversal for toll pass -through costs ($0.1 million). 42,152 The under run of the FY 2022/23 budget at the first quarter is due to lower than anticipated expended costs for the preliminary engineering and environmental document contract ($1.1 million). 115 RIVERSIDE COUNTY TRANSPORTATION COMMISSION QUARTERLY PROJECT STATUS 1St QUARTER FOR THREE MONTHS ENDED 9/30/2022 Project Description FY 2022/23 through 15t Quarter Budget Expenditures through 1St Quarter Actuals 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 2023. The FY 2022/23 budget amount is $82,288,300. Mid County Parkway (MCP) (P002302, P002317, P002320, P002324, & P002328) The environmental document for a new corridor from 1-215 to SR -79 was approved in April 2015. The first design package is under construction. 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 $2.1 billion. The FY 2022/23 budget amount is $35,832,500. 19,391,300 3,831,625 4,757,113 1,801,848 The under run of the FY 2022/23 budget at the first quarter is due to delayed invoicing from the design builder ($12.0 million), the toll services contractor ($1.0 million), and lower than anticipated expended costs from the project construction management contract ($0.8 million) and Caltrans ($0.6 million). The under run of the FY 2022/23 budget at the first quarter is primarily due to the following for each project: • MCP: An under run in right of way (ROW) acquisition and ROW support is due to accrual reversals not yet offset by invoices ($0.1 million). • MCP I-215/Placentia Interchange: The under run is due to construction ($0.3 million) and construction management ($0.3 million). • MCP Mitigation: The first year of plant establishment was completed at the beginning of the third quarter in FY 2020/21 and the minimal under run in the first quarter of FY 2022/23 was due to mitigation property monitoring ($0.8 million). • MCP2 and MCP3: The Commission approved the shift from MCP2 to MCP3 at the May 2022 Commission meeting. The underrun was due to combined ROW support services ($0.4 million). 116 RIVERSIDE COUNTY TRANSPORTATION COMMISSION QUARTERLY PROJECT STATUS 1St QUARTER FOR THREE MONTHS ENDED 9/30/2022 Project Description FY 2022/23 through 15t Quarter Budget Expenditures through 1St Quarter Actuals Project Status 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 2022/23 budget amount is $49,625,200. Smart Freeways (P003051) The project includes environmental clearance, design, and commence construction of a pilot project to install a smart freeway system on northbound 1-15 in the city of Temecula. The FY 2022/23 budget amount is $12,533,000. Moreno Valley -March Field station upgrade (P004026) The project will remove and replace approximately 2.5 miles of existing rail and wood ties with new rail and concrete ties, remove / replace / regrade track ballast, improve track drainage, install new track signals and Positive Train Control system, connect to existing signals and communication systems, build a new second passenger loading platform, extend the existing passenger loading platform to current Metrolink station standards, and perform other improvements necessary to bring the tracks into compliance with Metrolink standards. The FY 2022/23 budget amount is $15,485,100. 2,555,050 587,000 217,260 The under run of the FY 2022/23 budget at the first quarter is due to pre -construction management services ($1.4 million), and less than anticipated expended costs for construction support ($0.3 million) and ROW acquisition ($0.4 million). (114,143) The under run of the FY 2022/23 budget at the first quarter is due to accrual reversals not yet offset by invoices for final design ($0.5 million) and program management ($0.1 million). 871,275 97,523 The under run of the FY 2022/23 budget at the first quarter is due to construction management and construction support ($0.6 million) and accrual reversals not yet offset by invoices for final design ($0.1 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. 117 RIVERSIDE COUNTYTRANSPORTATION COMMISSION QUARTERLY BUDGETTO ACTUAL 1ST QUAkIER FO R THREE MONTHS ENDED 9/30/2022 ATTACHMENT 2 FY2022/23 1ST QUARTER REMAINING PERCENT BUDGET ACTUAL BALANCE UTILIZATION Revenues Salestax $ 415,964,600 $ 33,428,270 $ 382,536,330 8% Federal reimbursements 83,605,900 (6,885,634) 90,491,534 -8% State reimbursements 148,621,900 (11,380,984) 160,002,884 -8% Local reimbursements 17,032,700 1,448,308 15,584,392 9% Transportation Uniform Mitigation Fee 31,000,000 2,172,289 28,827,711 7% Tolls, penalties, and fees 97,771,800 20,014,409 77,757,391 20% Other revenues 707,000 164,066 542,934 23% Investment income 1,168,400 (961,328) 2,129,728 -82% Total revenues 795,872,300 37,999,396 757,872,904 5% Expenditures/Expenses Salariesand benefits 17,367,100 3,092,035 14,275,065 18% Professional and support Professional services 18,479,800 1,725,468 16,754,332 9% Support costs 18,106,200 3,555,590 14,550,610 20% Total Professional and support costs 36,586,000 5,281,058 31,304,942 14% Projectsand operations Program operations 40,556,800 1,132,973 39,423,827 3% Engineering 28,494,200 (1,758,746) 30,252,946 -6% Construction 224,588,900 (6,270,489) 230,859,389 -3% Design Build 83,586,800 4,603,194 78,983,606 6% Right of way/land 57,610,800 (3,639,343) 61,250,143 -6% Operating and capital disbursements 210,211,900 35,870,488 174,341,412 17% Soecialstudies 2,216,200 44,156 2,172,044 2% Local streetsand roads 77,101,900 6,589,109 70,512,791 9% Regional arterials 30,000,000 (1,869,215) 31,869,215 -6% Total projectsand operations 754,367,500 34,702,127 719,665,373 5% Debt service Principal Interest Total debt service Capital outlay Depreciation Total Expenditures/Expenses Excess revenuesover (under) expenditures/expenses Other financing sources/(uses) Tra nsfe r in Transfer out Total financing sources/(uses) Net change in fund balances Fund balance July 1, 2022 Fund balance September30, 2022 31,405,000 60,351,300 6,929,187 91,756,300 6,929,187 6,362,900 906,439,800 309,352 4,723,489 31,405,000 N/A 53,422,113 11% 84,827,113 8% 6,053,548 (4,723,489) 5% N/A 55,037,248 851,402,552 6% (110,567,500) (17,037,852) (93,529,648) 15% 245,703,200 23,356,422 222,346,778 10% (245,703,200) (23,356,422) (222,346,778) 10% (110,567,500) (17,037,852) 93,529,648 1,278,326,000 1,063,776,100 (214,549,900) $ 1,167,758,500 $ 1,046,738,248 $ (121,020,252) N/A 15% 83% 90% 118 RVERSIDECOUN1Y TRANSPORTATION COMMISSION QUARTERLY BUDGETTO ACTUAL BY FUND 1 ST Q UARIE O FOR THREE MONTHS ENDED 9/30/2022 SPECIAL REVENUE RINDS MEASUIEA SALES TAX TRANSPORTATION DEVHDPMH4TACT GENERALFUND F5Po SAFE WESTERN COUNTY COACHELA PALO VERDE LDCALTRANSPORTATION STATETRAN5IT STATEOF GOOD VALLEY VALLEY FUND ASSISTANCE REPAIR TRANSPORTATION UNIFORM MUIGA1ION FEE (111MF) COACHBIA OTHB2 AGENCY REGIONAL VALLEY RAIL PROJECTS CONSERVATION SB132 Revenues Selestax $ . $ - $ 17,418,290 $ 4,204,345 $ 89,093 $ 11,716,542 $ $ - $ - $ - $ - $ $ Federal reimbursements (3,525,131) - (3,360,503) - - - - - - - - - 3ate reimbureements 1,692,729 (63,838) (388,402) - - - - (4,112) (392,688) - - - (12,224,673) Local reimbursements - (1,011) 89,135 - - - - - - - (29,620) 1,389,804 Transportation Uniform Mitigation Fee - - - 2,172,289 Tolls penalties and fees - - - - - - - - Other revenues 68 134,553 - - - - 4,500 Investment income (308,502) (57,147) - (114294) (114,294) Total revenues (1,832,334) (64,849) 13,584,571 4,147,198 89,093 11,716,542 (114,294) (4,112) 1,669,807 - (29,620) 1,389,804 (12,224,673) ExpendituredExpenses Sala ries and benefits 1,494,506 45,065 568,553 - - - 39,655 21,439 16,913 511,470 60,762 Professional and support Professonal services 552,567 (15,047) 447,086 1,565 - - 2,906 5,500 35,744 6,515 1,275 417,413 11,119 Support cods 998,037 13,504 569,830 - - - - 9,851 572 - 205,270 2,075 Total Professional and support costs 1,550,604 (1,543) 1,016,916 1,565 - - 2,906 5,500 45,595 7,087 1,275 622,683 13,194 Projectsand operations Program operations 4,723 527,209 1,380,811 - - - 41,187 - 31,186 176,797 97,067 Engineering (356,553) - - - - - 30,459 - 67,348 (1,500,000) Construction - (2,198,646) - 305,283 - - - (5,343,438) Design Build - - (634,346) - - - - - - - - - 4,535,598 Rght of way/land - - (1,601,294) - - - - (107,272) 91,223 (2,022,000) Operating and capital disbursements (1,547,835) 1,099,273 1,816,667 30,673,778 3,214,210 614,395 - - $pecialstudles 41,989 - 2,167 - - - - - - Localstreetsand roads - - 5,028,495 1,471,521 89,093 - - - - - - - Regional arterials - - (1,869,215) - - - - - - - - Total projectsand operations (1,501,123) 527,209 2,719,907 1,418,973 89,093 30,673,778 3,214,210 614,395 269,657 - 98,534 268,020 (4,232,773) Debt service Rincipal Interest Total debt Ervice Capital outlay 205,076 - 104,276 Depreciation - - Total Expend itured Expenses 1,749,063 570,731 4,409,652 1,420,538 89,093 30,673,778 3,217,116 619,895 354,907 28,526 116,722 1,402,173 (4,158,817) Excess revenuesover (under) (3,581,397) (635,580) 9,174,919 2,726,660 Other financing so urced(uses) Tra nster in 5,967,600 Transfer out (215,100) (54,600) Total financing sourced(uses) 5,752,500 (54,600) (16,957,236) (3,331,410) (624,007) 1,314,900 (28,526) (146,342) (12,369) (8,065,856) (17,954,922) (128,400) (5,700) (3,964,200) (64,200) (39,800) (34,200) (6,500) (17,954,922) (128,400). (5,700) (3,964,200) (64,200) (39,800) (34,200) (6,500) (244,700) (244,700) Net change in fund balances 2,171,103 (690,180) (8,780,003) 2,598,260 (5,700) (22,921,436) (3,395,610) (663,807) Fund balance July 1, 2022 35,788,510 12,427,443 379,440,191 84,343,540 - 276,854,895 131,655,414 11,274,447 Fund balance Saptember 30, 2022 $ 37,959,613 $ 11,737,263 $ 370,660,188 $ 86,941,800 $ (5.700) $ 253,933,459 $ 128,259,804 $ 10,610,640 $ 1,280,700 (35,026) (146,342) (257,069) (8,065,856) 119,352,193 2,200,344 11,696 (3,933) (385,823) 120,632,893 $ 2,165,318 $ (134,646) $ (261,002) $ (8,451,679) 119 RIVERSIDE COUNTYTRANSPORTATION COMMISSION QUARTERLY BUDG ETTO AC TUAL BY FUND 1STQUAR1ER FOR THREE MONTHS ENDED 9/30/2022 ENTERPRISE FUND CAPITALPROJEC TS FUNDS 15 EXPRESS LANES 91 EXPRESS LANES COMMERCIAL PAPER SALES TAX BONDS DESTSERVICE COMBINED TOTAL Revenues Selestsx $ - S - $ $ - $ - $ 33,428,270 Federal reimburements - - - - - (6,885,634) Sate reimburements - - - - - (11,380,984) Local reimbursements - - - - - 1,448,308 Transportation Uniform Mitigation Fee - - - - 2,172,289 Tolls penalties, and fees 4,587,511 15,426,898 - - - 20,014,409 Other revenues 24,945 - - - 164,066 Investment income (99,200) (588,959) 227,754 68,068 25,246 (961,328) Total revenues 4,513,256 14,837,939 227,754 68,068 25,246 37,999,396 ExpenditurestExpenes Sslariesa nd benefits Profeseional and support Professonal services Support costs Total Professional and support costs 116,271 217,401 - - - 3,092,035 118,265 958,534 140,560 797,917 1,725,468 3,555,590 1,076,799 938,477 - - - 5,281,058 Projectsand operations Program operations 56,231 (1,182,238) - - 1,132,973 Engineering - - - (1,758,746) Construction - 966,312 - (6,270,489) Design Build - 701,942 - - - 4,603,194 Right of way/land - - - (3,639,343) Operating and capital disburements - - - - 35,870,488 Special studies - 44,156 Local streetsand roads - - - - - 6,589,109 Regional arterials - - - (1,869,215) Total pojectsand operations 56,231 486,016 - - - 34,702,127 Debt service Principal Interest Total debt service Capital outlay Depreciation Total Expend ituredExpen es Excess revenuesover (under) Other finenc ing souroed(uses) Tra nster in Transfer out Total financing eurced(uses) 750,452 6,178,735 - - - 6,929,187 750,452 6,178,735 - 6,929,187 309,352 3,178,382 1,545,107 - - - 4,723,489 5,178,135 9,365,736 - 55,037,248 (664,879) 5,472,203 227,754 68,068 25,246 (17,037,852) - - - - 17,388,822 23,356,422 (100,800) (543,300) - - (23,356,422) (100,800) (543,300) - - 17,388,822 Net change in fund balances (765,679) 4,928,903 227,754 68,068 17,414,068 (17,037,852) Fund balance July 1, 2022 249,642,077 (290,512,183) 15,043,286 25,576,707 11,067,296 1,063,776,100 Fund balance Sapternber 30, 2022 $ 248,876,398 $ (285,583,280) $ 15,271,040 $ 25,644,775 $ 28,481,364 $ 1,046,738,248 120 AGENDA ITEM 6G RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: December 14, 2022 TO: Riverside County Transportation Commission FROM: Budget and Implementation Committee Megan Kavand, Senior Financial Analyst Michele Cisneros, Deputy Finance Director THROUGH: Anne Mayer, Executive Director SUBJECT: Quarterly Investment Report BUDGET AND IMPLEMENTATION COMMITTEE AND STAFF RECOMMENDATION: This item is for the Commission to: 1) Receive and file the Quarterly Investment Report for the quarter ended September 30, 2022. BACKGROUND INFORMATION: The Commission's quarterly investment reports have generally reflected investments primarily concentrated in the Riverside County Pooled Investment Fund as well as investments in mutual funds for sales tax revenue bonds debt service payments. 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 engaged MetLife Investment Management, LLC, formerly Logan Circle Partners, L.P. (MetLife), as the investment manager for the bond proceeds and other required funds. Additionally, the Commission engaged Payden & Rygel Investment Management (Payden & Rygel) to make specific investments for Commission operating funds. The Commission approved initial agreements with the investment managers in May 2013 following a competitive procurement and has extended the agreements through the annual recurring contracts process. MetLife invested the debt proceeds and subsequent other required contributions for the 91 Project and 1-15 ELP in separate accounts of the Short -Term Actively Managed Program (STAMP). The Commission completed the 91 Project financing in 2013, the 1-15 ELP and 91 Project completion financing (2017 Financing) in July 2017 and the 2021 91 Project refinancing (2021 Financing) in October 2021. Consistent with financing expectations, the Commission expended all 91 Project debt proceeds and equity contributions, except for the toll revenue bonds debt service reserve, and after commencement of operations, established other required accounts. The Commission continues to expend the 2017 Financing bond proceeds on the 1-15 ELP and funded required reserve accounts. Agenda Item 6G 121 The quarterly investment report for the first quarter of FY 2022/23, as required by state law and Commission policy, reflects the investment activities resulting from the 91 Project, 2017 Financing, 2021 Financing and available operating cash. As of September 30, 2022, the Commission's cash and investments were comprised of the following: CASH AND INVESTMENTS PORTFOLIO Operating Trust Commission -managed STAMP for 91 CIP STAMP for 2017 Financing Total AMOUNTS $ 799,688,859 258,354,859 152,940,986 55,906,403 37,989,486 $ 1,304,880,594 The quarterly investment report includes the following information: • Investment Portfolio Report; • 91 CIP STAMP Portfolio Statements; • 2017 Financing STAMP Portfolio Statements; • MetLife Short Duration Third Quarter 2022 Review; • Payden & Rygel Operating Portfolio Statement; • Payden & Rygel Operating Portfolio Third Quarter 2022 Review; and • County of Riverside Investment Report for the Quarter Ended September 30, 2022. As of September 30, 2022, the Commission's cash and investments are in compliance with both the Commission's investment policy adopted on December 10, 2021, and permitted investments described in 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. FISCAL IMPACT: This is an information item. There is no fiscal impact. Attachments: 1) Investment Portfolio Report 2) 91 CIP STAMP Portfolio Statements 3) 2017 Financing STAMP Portfolio Statements 4) Payden & Rygel Operating Portfolio Statement 5) MetLife Short Duration Quarterly Review 6) Payden & Rygel Operating Portfolio Quarterly Review 7) County of Riverside Investment Report Agenda Item 6G 122 ATTACHMENT 1 Riverside County Transportation Commission Investment Portfolio Report Period Ended: September 30, 2022 OPERATING FUNDS City National Bank Deposits County Treasurer's Pooled Investment Fund Subtotal Operating Funds FUNDS HELD IN TRUST County Treasurer's Pooled Investment Fund: Local Transportation Fund Subtotal Funds Held in Trust COMMISSION MANAGED PORTFOLIO US Bank Payden & Rygel Operating First American Government Obligation Fund Subtotal Commission Managed Portfolio STAMP PORTFOLIO for 91 CIP 2013 Series A & Series B Reserve Fund 2021 Series B Reserve Fund 2021 Series C 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 FAIR VALUE FINANCIAL INSTUTION STATEMENTS RATING MOODYS / S&P 9,595,668 City National Bank Available upon request A3/BBB+ 790,093,191 County Treasurer Available upon request 799,688,859 258,354,859 County Treasurer Available upon request 258,354,859 53,502,642 US Bank Attached 99,438,344 US Bank Available upon request N/A 152,940,986 12,204,258 36,456,685 7,245,459 55,906,403 22,876,220 15,113,266 37,989,486 $ 1,304,880,594 US Bank US Bank US Bank US Bank US Bank $900,000,000 $800,000,000 $700,000,000 $600,000,000 $500,000,000 $400,000,000 $300,000,000 $200,000,000 $100,000,000 20.05% Attached Attached Attached Attached Attached COUPON RATE N/A N/A Nature of Investments PAR VALUE • 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 PURCHASE MATURITY YIELD TO PURCHASE MARKET UNREALIZED DATE DATE MATURITY COST VALUE GAIN (LOSS) N/A See attached report for details See attached report for details See attached report for details N/A 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 Mutual Funds, Fixed Income, 7.62% 1130% County Pool/Cash, 81.08% 123 ATTACHMENT 2 embank 00- -M -PF-PC -274-04 02695804 26958 0215094-00-01445-04 Page 3 of 56 ACCOUNT NUMBER: 256350023 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN BONDS 2013 SERIES A AND 2013 SERIES B 2013A AND B RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc Cash Equivalents 125,000.000 26,723.180 Federal Home Loan Bks Discount Note 10/13/2022 313385K47 First American Government Oblig Fd CI D #3802 31846V401 124,896.25 99.9170 26,723.18 1.0000 124,878.13 99.90 26,723.18 1.00 1.0 .00 0.01 0.2 618.11 2.31 Total Cash Equivalents $151,619.43 $151,601.31 1.2 $618.12 US Government Issues 224,186.990 74,734.950 196,407.940 37,242.750 27,826.060 FHLMC Multiclass Mtg Partn C M 0 Ser K026 CI A2 2.510 11/25/2022 3137B1BSO Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser K SO1 CI A2 2.522 01/25/2023 3137B1U75 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser K027 CI A2 2.637 01/25/2023 3137B1UG5 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser K029 CI A2 3.320 02/25/2023 3137B36J2 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cert Pool #AI3382 2.355 03/01/2023 3138EKXL4 Standard & Poors Rating: N/A Moodys Rating: N/A 223,689.29 99.7780 74,477.86 99.6560 195,755.87 99.6680 37,107.19 99.6360 225,817.37 100.73 1.8 5,627.09 2.52 75,984.11 0.6 1,884.81 101.67 2.53 202,493.64 103.10 1.6 5,179.28 2.65 37,346.73 0.3 1,236.46 100.28 3.33 27,775.14 27,825.16 0.2 667.27 99.8170 100.00 2.40 124 embank 00- -M -PF-PC -274-04 02695804 26958 0215094-00-01445-04 Page 4 of 56 ACCOUNT NUMBER: 256350023 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN BONDS 2013 SERIES A AND 2013 SERIES B 2013A AND B RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 17,287.150 17,594.390 5,327.580 9,300.560 1,385,000.000 625,000.000 1,900,000.000 180,000.000 FNMA GtdREMICPass Thru CMOSer2013M6Cl2A 03/25/2023 Var 3136AC7J4 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cart Pool#Bm1757 2.493 04/01/2023 3140J55T2 Standard & Poors Rating: N/A Moodys Rating: N/A FNMAGtdREMICPassThru C M 0 Ser 2013 36 CI KC 1.500 04/25/2023 3136ADFF1 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA GtdREMICPass Thru C M 0 Ser 2013 M14 CI Apt 04/25/2023 Var 3136AHAEO Standard & Poors Rating: N/A Moodys Rating: N/A U S Treasury Note 07/31/2023 Var 91282CCQ2 Standard & Poors Rating: N/A Moodys Rating: Aaa U S Treasury Note 0.125 10/15/2023 91282CAP6 Standard & Poors Rating: N/A Moodys Rating: Aaa U S Treasury Note 10/31/2023 Var 91282CDE8 Standard & Poors Rating: N/A Moodys Rating: Aaa U S Treasury Note 0.125 12/15/2023 91282CBA8 Standard & Poors Rating: N/A Moodys Rating: Aaa 17,125.34 99.0640 17,106.53 98.96 2.70 0.1 461.91 17,549.70 17,591.29 0.1 424.55 99.7460 99.98 2.42 5,292.15 5,251.00 99.3350 0.0 79.91 98.56 1.51 9,235.64 9,322.10 99.3020 1,386,551.20 100.1120 598,681.25 95.7890 1,901,919.00 100.1010 171,280.80 95.1560 0.1 249.72 100.23 2.70 1,385,319.97 100.02 614,809.57 98.37 1,902,574.13 100.14 179,444.53 99.69 11.3 0.14 .00 4.9 781.25 .13 15.6 6,175.00 .32 1.4 225.00 .13 125 embank 00- -M -PF-PC -274-04 02695804 26958 0215094-00-01445-04 Page 5 of 56 ACCOUNT NUMBER: 256350023 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN BONDS 2013 SERIES A AND 2013 SERIES B 2013A AND B RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 25,772.870 301,052.850 1,000,000.000 17,352.310 119,398.090 39,854.780 760,000.000 70,000.000 FHLMC Multiclass Mtg Partn C M 0 Ser K729 CI Al 2.951 02/25/2024 3137FCM35 Standard & Poors Rating: N/A Moodys Rating: Aaa FHLMC Multiclass Mtg Partn C M 0 Ser K726 CI A2 2.905 04/25/2024 3137BYPQ7 Standard & Poors Rating: AAA Moodys Rating: N/A U S Treasury Note 0.250 06/15/2024 91282CCG4 Standard & Poors Rating: N/A Moodys Rating: Aaa FNMAGtdREMICPassThru C M 0 Ser 2014 M13 CI A2 3.021 08/25/2024 3136ALYF2 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser Q 015 CI A 08/26/2024 Var 3137FYUR5 Standard & Poors Rating: N/A Moodys Rating: N/A 25,596.07 25,899.66 0.2 760.56 99.3140 100.49 2.97 294,080.47 97.6840 934,020.00 93.4020 16,885.36 97.3090 118,981.39 99.6510 306,612.05 101.85 951,875.00 95.19 17, 301.48 99.71 3.10 2.4 8,745.59 2.97 7.7 2,500.00 .27 119,422.82 100.02 0.1 524.21 1.0 2,476.94 2.08 F H L M C Multiclass Mtg Partn 38,678.67 41,624.53 0.3 210.82 C M 0 Ser Kbx1 CI Al 97.0490 104.44 .54 2.920 09/25/2024 3137F4CY6 Standard & Poors Rating: N/A Moodys Rating: N/A U S Treasury Note 2.250 11/15/2024 912828G38 Standard & Poors Rating: N/A Moodys Rating: Aaa FHLMCMTN 4.000 12/30/2024 3134GXA61 Standard & Poors Rating: AA+ Moodys Rating: Aaa 729,007.20 95.9220 69,022.80 98.6040 770,127.32 101.33 6.0 17,100.00 2.35 70,000.00 0.6 2,800.00 100.00 4.06 126 embank 00- -M -PF-PC -274-04 02695804 26958 0215094-00-01445-04 Page 6 of 56 ACCOUNT NUMBER: 256350023 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN BONDS 2013 SERIES A AND 2013 SERIES B 2013A AND B RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 134,886.100 125,000.000 365,000.000 175,000.000 15,000.000 37,000.000 86,124.510 300,000.000 FHLMC Multiclass Mtg Partn C M 0 Ser K050 CI Al 2.802 01/25/2025 3137BLW87 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMCMTN 4.000 02/28/2025 3134GXS88 Standard & Poors Rating: AA+ Moodys Rating: Aaa U S Treasury Note 0.500 03/31/2025 912828ZF0 Standard & Poors Rating: N/A Moodys Rating: Aaa FHLMC Multiclass Mtg Partn C M 0 Ser Kplb CI A 2.770 05/25/2025 3137BJQ71 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser K047 CI A2 3.329 05/25/2025 3137BKRJ1 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser K048 CI A2 06/25/2025 Var 3137BLAC2 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA GtdREMICPass Thru C M 0 Ser 2015 M13 CI A2 2.800 06/25/2025 3136AQHL7 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMCMTN 0.600 08/12/2025 3134GWND4 Standard & Poors Rating: N/A Moodys Rating: Aaa 131,790.46 97.7050 123,581.25 98.8650 332,993.15 91.2310 166,727.75 95.2730 139,010.05 103.06 125,000.00 100.00 362,889.84 99.42 188,024.41 107.44 1.1 3,779.51 2.87 1.0 5,000.00 4.05 2.7 1,825.00 .55 1.4 4,847.43 2.91 14,517.60 14,944.34 0.1 499.35 96.7840 99.63 3.44 35,756.80 40,815.63 0.3 1,215.08 96.6400 110.31 3.40 81,997.42 95.2080 269,220.00 89.7400 85,101.79 0.7 2,331.16 98.81 2.84 299,580.00 99.86 2.2 1,800.00 .67 127 embank 00- -M -PF-PC -274-04 02695804 26958 0215094-00-01445-04 Page 7 of 56 ACCOUNT NUMBER: 256350023 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN BONDS 2013 SERIES A AND 2013 SERIES B 2013A AND B RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 75,000.000 970,000.000 134,775.490 43,865.600 15,999.580 55,000.000 28,956.770 51,061.890 FHLMC Multiclass Mtg Partn C M 0 Ser K733 CI A2 08/25/2025 Var 3137FJXQ7 Standard & Poors Rating: N/A Moodys Rating: N/A U S Treasury Note 0.250 09/30/2025 91282CAM3 Standard & Poors Rating: N/A Moodys Rating: Aaa FNMA GtdREMICPass Thru C M 0 Ser 2016 M3 CI A2 2.702 02/25/2026 3136ARTE8 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cert Pool#An1613 2.550 07/01/2026 3138LDYK3 Standard & Poors Rating: N/A Moodys Rating: N/A GNMAGtdREMICPassThru C M O Ser 2011 158 CI Ca 3.000 10/20/2026 38378AU90 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser K062 CI A2 3.413 12/25/2026 3137BUX60 Standard & Poors Rating: N/A Moodys Rating: N/A FNMAGtdREMICPassThru C M 0 Ser 2017 M4 CI A2 12/25/2026 Var 3136AVY52 Standard & Poors Rating: N/A Moodys Rating: N/A G N M A II Pass Thru Cert Pool #005276 3.000 01/20/2027 36202F2H8 Standard & Poors Rating: N/A Moodys Rating: N/A 73,101.75 97.4690 862,087.50 88.8750 126,841.26 94.1130 40,926.60 93.3000 15,920.70 99.5070 52,566.80 95.5760 26,775.75 92.4680 49,666.37 97.2670 73,924.81 0.6 2,812.50 98.57 3.85 957,882.03 98.75 133,153.98 98.80 7.1 2,425.00 .28 1.0 3,641.63 2.87 42,912.99 0.3 1,118.57 97.83 2.73 16,166.52 101.04 3.01 0.1 479.99 55,023.63 0.4 1,877.15 100.04 3.57 27,029.34 93.34 2.85 0.2 764.17 51,485.12 0.4 1,531.86 100.83 3.08 128 embank 00- -M -PF-PC -274-04 02695804 26958 0215094-00-01445-04 Page 8 of 56 ACCOUNT NUMBER: 256350023 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN BONDS 2013 SERIES A AND 2013 SERIES B 2013A AND B RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 56,923.550 27,607.380 23,311.920 41,633.280 32,513.620 23,869.730 25,557.260 250,000.000 FNMA Partn Cert Pool #615365 2.110 02/01/2027 3140HW6B3 Standard & Poors Rating: N/A Moodys Rating: N/A GNMA II Pass Thru Cert Pool #005300 3.000 02/20/2027 36202F3H7 Standard & Poors Rating: N/A Moodys Rating: N/A GNMA Partn Cart Pool #779250 3.000 05/15/2027 36176XQB8 Standard & Poors Rating: N/A Moodys Rating: N/A GNMA IIPartn Cert Pool #Ma0138 2.500 06/20/2027 36179MEK2 Standard & Poors Rating: N/A Moodys Rating: N/A GNMAGtdREMICPassThru C M 0 Ser 2012 96 CI Ad 1.500 08/20/2027 38378HAU0 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA GtdREMICPass Thru C M 0 Ser 2012 102 CI Bj 1.500 09/15/2027 3136A8SX9 Standard & Poors Rating: N/A Moodys Rating: N/A GNMA II Pass Thru Cert Pool #Ma0601 2.500 12/20/2027 36179MU24 Standard & Poors Rating: N/A Moodys Rating: N/A F H L M C Multiclass Mtg Partn C M 0 Ser K073 CI A2 3.350 01/25/2028 3137FETNO Standard & Poors Rating: N/A Moodys Rating: N/A 51,579.00 90.6110 26,836.58 97.2080 22,648.70 97.1550 52,245.14 0.4 1,201.09 91.78 2.33 28,181.09 102.08 3.09 23,899.16 102.52 3.09 0.2 828.22 0.2 699.36 39,990.01 41, 389.01 0.3 1,040.83 96.0530 99.41 2.60 30,610.92 94.1480 22,454.26 94.0700 24,461.88 95.7140 236,110.00 94.4440 32,815.49 100.93 1.59 24,115.05 101.03 1.59 0.3 487.70 26,056.07 101.95 2.61 0.2 358.05 246,718.75 98.69 0.2 638.93 1.9 1,006.20 .43 129 embank 00- -M -PF-PC -274-04 02695804 26958 0215094-00-01445-04 Page 9 of 56 ACCOUNT NUMBER: 256350023 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN BONDS 2013 SERIES A AND 2013 SERIES B 2013A AND B RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 34,718.730 17,766.040 27,623.410 50,000.000 56,263.920 5,885.130 185,000.000 37,885.310 G N M A 11 Pass Thru Cert Pool #Ma0756 2.500 02/20/2028 36179MZV5 Standard & Poors Rating: N/A Moodys Rating: N/A G N M A II Pass Thru Cert Pool #Ma0909 3.000 04/20/2028 36179NAJ7 Standard & Poors Rating: N/A Moodys Rating: N/A FNMAGtdREMICPassThru C M 0 Ser 2013 70 CI Dg 1.750 07/25/2028 3136AEY84 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cert Pool #109412 3.680 08/01/2028 313637N55 Standard & Poors Rating: N/A Moodys Rating: N/A GN MA II Partn Cert Pool #Ma1202 2.500 08/20/2028 36179NKP2 Standard & Poors Rating: N/A Moodys Rating: N/A F H L M C Multiclass Mtg Partn C M 0 Ser 4257 CI Ek 2.500 10/15/2028 3137B5A60 Standard & Poors Rating: N/A Moodys Rating: N/A Federal Home Loan Bks 3.250 11/16/2028 3130AFFX0 Standard & Poors Rating: AA+ Moodys Rating: Aaa FNMA Partn Cert Pool #B11077 4.000 12/01/2028 3140HSFT3 Standard & Poors Rating: N/A Moodys Rating: N/A 33,166.11 95.5280 17,195.22 96.7870 26,178.71 94.7700 47,975.50 95.9510 53,576.76 95.2240 35,408.48 101.99 2.62 18,236.21 102.65 3.10 0.3 867.97 0.1 532.98 27,949.14 0.2 483.41 101.18 1.85 48,171.88 0.4 1,840.00 96.34 3.83 57,521.51 0.4 1,406.60 102.24 2.63 5,733.23 5,818.93 97.4190 176,521.45 95.4170 36,901.43 97.4030 0.1 147.13 98.88 2.57 205,766.25 111.23 1.5 6,012.50 3.41 39,277.54 0.3 1,515.41 103.67 4.11 130 embank 00- -M -PF-PC -274-04 02695804 26958 0215094-00-01445-04 Page 10 of 56 ACCOUNT NUMBER: 256350023 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN BONDS 2013 SERIES A AND 2013 SERIES B 2013A AND B RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 16,914.190 59,408.730 90,000.000 27,580.000 250,757.670 FNMA Partn Cert Pool #AI5851 3.500 10/01/2029 3138ENQD4 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cert Pool #As4860 2.500 05/01/2030 3138WEMJ5 Standard & Poors Rating: N/A Moodys Rating: N/A 16,117.70 95.2910 55,129.52 92.7970 17,701.00 104.65 3.67 0.1 592.00 61, 389.77 0.5 1,485.22 103.33 2.69 U S Treasury Note 70,520.40 87,148.83 0.6 562.50 0.625 08/15/2030 78.3560 96.83 .80 91282CAE1 Standard & Poors Rating: N/A Moodys Rating: Aaa FHLMC Partn Cert Mirror Pool #Zs8585 3.000 10/01/2030 3132A9RE9 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Partn Cert Umbs Pool #Zt1963 3.500 11/01/2030 3132AEFC5 Standard & Poors Rating: N/A Moodys Rating: N/A 37,043.160 FNMA Partn Cert Pool #AI7688 3.500 11/01/2030 3138EQRJ3 193,191.170 53,824.320 FNMA Partn Cert Umbs Pool #Ma4309 2.000 03/01/2031 31418DYF3 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cert Pool #A18561 3.500 06/01/2031 3138ETQP4 Standard & Poors Rating: N/A Moodys Rating: N/A 25,978.15 94.1920 237,943.95 94.8900 35,224.71 95.0910 173,441.24 89.7770 27,218.42 0.2 827.40 98.69 3.18 261,849.64 104.42 38,805.45 104.76 198,268.69 102.63 2.0 8,776.52 3.69 0.3 1,296.51 3.68 1.4 3,863.82 2.23 51,211.69 56,734.43 0.4 1,883.85 95.1460 105.41 3.68 131 embank 00- -M -PF-PC -274-04 02695804 26958 0215094-00-01445-04 Page 11 of 56 ACCOUNT NUMBER: 256350023 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN BONDS 2013 SERIES A AND 2013 SERIES B 2013A AND B RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 137,991.040 130,494.190 43,138.230 50,112.180 48,052.290 130, 548.170 56,908.700 26,606.230 FNMA Partn Cert Pool #Ma2803 2.500 11/01/2031 31418CDH4 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMCPartnCert Pool #Zs8063 2.500 09/01/2032 3132A85Y1 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cert Umbs Pool #Bm3956 3.000 12/01/2032 3140J8ME0 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Partn Cert Pool #Zt1970 3.500 04/01/2033 3132AEFK7 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMCPartn Cert Umbs Pool#Sb8026 2.500 12/01/2034 3132D54K5 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cert Pool #Fm6017 3.000 02/01/2035 3140X9VK8 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cert Umbs Pool #Ma4112 3.000 08/01/2035 31418DSA1 Standard & Poors Rating: N/A Moodys Rating: N/A GNMAGtdREMICPassThru C M 0 Ser 2013 105 CI A 1.705 02/16/2037 38378KXW4 Standard & Poors Rating: N/A Moodys Rating: N/A 128,032.23 92.7830 121,084.25 92.7890 40,709.98 94.3710 143,070.45 103.68 135,001.20 103.45 1.1 3,449.78 2.69 1.0 3,262.35 2.69 45,185.44 0.3 1,294.15 104.75 3.18 47,512.36 53,024.99 0.4 1,753.93 94.8120 105.81 3.69 43,717.49 90.9790 123,050.79 94.2570 52,907.45 92.9690 26,137.43 98.2380 45,832.10 0.4 1,201.31 95.38 2.75 137,430.66 105.27 1.0 3,916.45 3.18 55,918.29 0.4 1,707.26 98.26 3.23 0.20 0.00 1.74 0.2 453.64 132 embank 00- -M -PF-PC -274-04 02695804 26958 0215094-00-01445-04 Page 12 of 56 ACCOUNT NUMBER: 256350023 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN BONDS 2013 SERIES A AND 2013 SERIES B 2013A AND B RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 32,786.600 23,457.150 13,293.280 14,857.930 7,171.350 10,732.210 41,331.370 41,471.120 GNMAGtdREMICPassThru C M O Ser 2010 4 CI Pd 3.000 01/16/2039 38376T5Z1 Standard & Poors Rating: N/A Moodys Rating: N/A GNMAGtdREMICPassThru C M 0 Ser 2010 166 CI Gp 3.000 04/20/2039 38377RVK8 Standard & Poors Rating: N/A Moodys Rating: N/A GNMAGtdREMICPassThru C M 0 Ser 2010 6 CI Ab 3.000 11/20/2039 38376TTT9 Standard & Poors Rating: N/A Moodys Rating: N/A GNMAGtdREMICPassThru C M O Ser 2011 136 CI Ga 2.000 05/20/2040 38377YTL4 Standard & Poors Rating: N/A Moodys Rating: N/A GNMAGtdREMICPassThru CMOSer 201118CIPg 3.000 08/20/2040 38377QKH9 Standard & Poors Rating: N/A Moodys Rating: N/A GNMAGtdREMICPassThru C M 0 Ser 2013 47 CI Ec 1.500 12/20/2040 38378JZD7 Standard & Poors Rating: N/A Moodys Rating: N/A GNMAGtdREMICPassThru C M O Ser 2013 71 CI Ga 2.500 07/20/2041 38378TAF7 Standard & Poors Rating: N/A Moodys Rating: N/A GNMAGtdREMICPassThru CMOSer 2013116CIMa 2.250 12/16/2041 38378VC45 Standard & Poors Rating: N/A Moodys Rating: N/A 31,802.02 96.9970 8,593.13 26.21 3.09 0.3 983.60 23,154.79 11,590.77 0.2 703.71 98.7110 49.41 3.04 13,006.68 97.8440 14,660.77 98.6730 13,467.61 101.31 3.07 14,695.06 98.90 2.03 0.1 398.80 7,078.12 7,239.38 98.7000 10,498.14 97.8190 40,057.12 96.9170 40,037.46 96.5430 0.1 297.16 0.1 215.14 100.95 3.04 10,598.06 98.75 1.53 0.1 160.98 0.16 0.3 1,033.28 0.00 2.58 39,974.28 96.39 2.33 0.3 933.10 133 embank 00- -M -PF-PC -274-04 02695804 26958 0215094-00-01445-04 Page 13 of 56 ACCOUNT NUMBER: 256350023 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN BONDS 2013 SERIES A AND 2013 SERIES B 2013A AND B RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 25,965.760 13,666.380 16,252.230 41,776.880 355,925.880 9,701.350 38,283.340 FNMA GtdREMICPass Thru CMOSer 2012148CIMc 2.000 11/25/2042 3136ABNZ2 Standard & Poors Rating: N/A Moodys Rating: N/A GNMAGtdREMICPassThru C M 0 Ser 2013 78 CI Ag 2.388 07/16/2043 38378KRS0 Standard & Poors Rating: N/A Moodys Rating: N/A GNMAGtdREMICPassThru C M 0 Ser 2018 153 CI Wj 3.000 11/20/2045 38381AZ58 Standard & Poors Rating: N/A Moodys Rating: N/A GNMAGtdREMICPassThru C M 0 Ser 2016 147 CI Da 3.000 04/20/2046 38380AZ34 Standard & Poors Rating: N/A Moodys Rating: N/A GNMAGtdREMICPassThru C M 0 Ser 2013 74 CI Al 12/16/2046 Var 38378KSL4 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cert Pool #Bm6007 06/01/2049 Var 3140JAU97 Standard & Poors Rating: N/A Moodys Rating: N/A GNMAGtdREMICPassThru C M 0 Ser 2015 29 CI Ad 09/16/2055 Var 38379KDN5 Standard & Poors Rating: N/A Moodys Rating: N/A 25,148.36 96.8520 26,352.28 0.2 519.32 101.49 2.06 13,567.71 13,194.47 0.1 326.43 99.2780 96.55 2.41 15,956.93 98.1830 39,096.06 93.5830 336,880.29 94.6490 16, 335.92 100.51 3.06 0.1 487.57 42,129.98 0.3 1,253.31 100.85 3.21 161,986.38 45.51 9,683.79 9,994.94 99.8190 2.8 9,198.51 2.73 0.1 251.85 103.03 2.60 34,167.88 37,305.34 0.3 967.42 89.2500 97.45 2.83 Total US Government Issues $12,052,638.77 $12,308,300.49 98.8 $167,182.16 Total Assets $12,204,258.20 $12,459,901.80 100.0 $167,800.28 134 embank 00- -M -PF-PC -274-04 02695804 26958 0215094-00-01445-04 Page 16 of 56 ACCOUNT NUMBER: 256350023 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN BONDS 2013 SERIES A AND 2013 SERIES B 2013A AND B RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL Date Income Principal Tax Posted Description Cash Cash Cost Beginning Balance 09/01/2022 - $697.92 09/01/22 Interest Earned On First Am Govt Ob Fd CI D Interest From 8/1/22 To 8/31/22 31846V401 09/02/22 Purchased 374.82 Units Of First Am Govt Ob Fd CI D Trade Date 9/2/22 31846V401 09/15/22 Interest Earned On F H L M C Mltcl Mtg 2.500% 10/15/28 $0.00208/Pv On 6,242.79 Pv Due 9/15/22 3137B5A60 09/15/22 Paid Down 357.66 Par Value Of F H L M C Mltcl Mtg 2.500% 10/15/28 Trade Date 9/15/22 3137B5A60 09/15/22 Amortized Premium On GNMA #779250 3.000% 5/15/27 Fed Basis Decreased By 24.04 USD To 24,668.99 USD 9/15/22 Current Year Amortization 36176XQB8 09/15/22 Paid Down 750.91 Par Value Of GNMA #779250 3.000% 5/15/27 For Record Date Of August Due 9/15/22 August GNMA Due 9/15/22 36176XQB8 09/15/22 Interest Earned On GNMA #779250 3.000% 5/15/27 August GNMA Due 9/15/22 36176XQB8 09/15/22 Purchased 1,181.74 Units Of First Am Govt Ob Fd CI D Trade Date 9/15/22 31846V401 09/16/22 Amortized Premium On G N M A Gtd Remic 3.000% 1/16/39 Fed Basis Decreased By 4.20 USD To 8,955.28 USD 9/16/22 Current Year Amortization 38376T5Z1 09/16/22 Interest Earned On G N M A Gtd Remic 3.000% 1/16/39 $0.00250/Pv On 34,125.91 Pv Due 9/16/22 38376T5Z1 09/16/22 Paid Down 1,339.31 Par Value Of G N M A Gtd Remic 3.000% 1/16/39 Trade Date 9/16/22 38376T5Z1 374.82 13.01 60.16 85.31 $697.92 $12,448,392.64 - 374.82 374.82 357.66 - 353.64 - 24.04 750.91 - 769.83 - 1,181.74 1,181.74 1,339.31 - 4.20 - 362.15 135 embank 00- -M -PF-PC -274-04 02695804 26958 0215094-00-01445-04 Page 17 of 56 ACCOUNT NUMBER: 256350023 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN BONDS 2013 SERIES A AND 2013 SERIES B 2013A AND B RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/16/22 Interest Earned On G N M A Gtd Remic 2.38858% 7/16/43 $0.00199/Pv On 20,106.52 Pv Due 9/16/22 38378KRS0 09/16/22 Paid Down 6,440.14 Par Value Of G N M A Gtd Remic 2.38858% 7/16/43 Trade Date 9/16/22 38378KRS0 09/16/22 Interest Earned On G N M A Gtd Remic 2.604% 12/16/46 $0.00215/Pv On 357,378.77 Pv Due 9/16/22 38378KSL4 09/16/22 Paid Down 1,452.89 Par Value Of G N M A Gtd Remic 2.604% 12/16/46 Trade Date 9/16/22 38378KSL4 09/16/22 Interest Earned On G N M A Gtd Remic 1.705% 2/16/37 $0.00142/Pv On 27,084.24 Pv Due 9/16/22 38378KXW4 09/16/22 Paid Down 478.01 Par Value Of G N M A Gtd Remic 1.705% 2/16/37 Trade Date 9/16/22 38378KXW4 09/16/22 Interest Earned On G N M A Gtd Remic 2.250% 12/16/41 $0.00188/Pv On 43,123.52 Pv Due 9/16/22 38378VC45 09/16/22 Paid Down 1,652.4 Par Value Of G N M A Gtd Remic 2.250% 12/16/41 Trade Date 9/16/22 38378VC45 09/16/22 Interest Earned On G N M A Gtd Remic 2.527% 9/16/55 $0.00211/Pv On 38,360.16 Pv Due 9/16/22 38379KDN5 09/16/22 Paid Down 76.82 Par Value Of G N M A Gtd Remic 2.527% 9/16/55 Trade Date 9/16/22 38379KDN5 09/16/22 Cash Disbursement Transfer To Principal Income Earnings 09/16/22 Cash Receipt Transfer From Income Income Earnings 09/16/22 Purchased 12,534.7 Units Of First Am Govt Ob Fd CI D Trade Date 9/16/22 31846V401 40.02 769.67 38.48 80.86 80.79 - 845.20 6,440.14 - 6,217.75 1,452.89 - 661.22 478.01 1,652.40 - 1,592.76 76.82 - 74.86 845.20 - 12,534.70 12,534.70 136 embank 00- -M -PF-PC -274-04 02695804 26958 0215094-00-01445-04 Page 18 of 56 ACCOUNT NUMBER: 256350023 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN BONDS 2013 SERIES A AND 2013 SERIES B 2013A AND B RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/20/22 Amortized Premium On GNMAII #Ma0138 2.500% 6/20/27 Fed Basis Decreased By 95.35 USD To 42,535.86 USD 9/20/22 Current Year Amortization 36179MEK2 09/20/22 Paid Down 1,153.62 Par Value Of GNMAII #Ma0138 2.500% 6/20/27 P & I Due 09/20/22 36179MEK2 09/20/22 Interest Earned On GNMAII #Ma0138 2.500% 6/20/27 P & I Due 09/20/22 36179MEK2 09/20/22 Amortized Premium On GNMAII #Ma0601 2.500% 12/20/27 Fed Basis Decreased By 18.12 USD To 26,958.51 USD 9/20/22 Current Year Amortization 36179MU24 89.14 - 95.35 1,153.62 - 1,146.85 - 18.12 09/20/22 Paid Down 885.16 Par Value Of 885.16 - 902.44 GNMAII #Ma0601 2.500% 12/20/27 P & I Due 09/20/22 36179MU24 09/20/22 Interest Earned On GNMAII #Ma0601 2.500% 12/20/27 P & I Due 09/20/22 36179MU24 09/20/22 Amortized Premium On GNMAII #Ma0756 2.500% 2/20/28 Fed Basis Decreased By 24.27 USD To 36,441.34 USD 9/20/22 Current Year Amortization 36179MZV5 09/20/22 Paid Down 1,012.74 Par Value Of GNMAII #Ma0756 2.500% 2/20/28 P & I Due 09/20/22 36179MZV5 09/20/22 Interest Earned On GNMAII #Ma0756 2.500% 2/20/28 P & I Due 09/20/22 36179MZV5 09/20/22 Amortized Premium On G N M A II #Ma1202 2.500% 8/20/28 Fed Basis Decreased By 41.33 USD To 59,007.88 USD 9/20/22 Current Year Amortization 36179NKP2 09/20/22 Paid Down 1,453.88 Par Value Of G N M A II #Ma1202 2.500% 8/20/28 P & I Due 09/20/22 36179N KP2 55.09 74.44 - 24.27 1,012.74 - 1,032.86 - 41.33 1,453.88 - 1,486.37 137 embank 00- -M -PF-PC -274-04 02695804 26958 0215094-00-01445-04 Page 19 of 56 ACCOUNT NUMBER: 256350023 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN BONDS 2013 SERIES A AND 2013 SERIES B 2013A AND B RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/20/22 Interest Earned On G N M A II #Ma1202 2.500% 8/20/28 P & I Due 09/20/22 36179NKP2 09/20/22 Purchased 4,844.32 Units Of First Am Govt Ob Fd CI D Trade Date 9/20/22 31846V401 09/20/22 Interest Earned On G N MA Gtd Remic 3.000% 11/20/39 $0.00250/Pv On 13,759.46 Pv Due 9/20/22 38376TTT9 09/20/22 Amortized Premium On G N MA Gtd Remic 3.000% 11/20/39 Fed Basis Decreased By 3.08 USD To 13,939.90 USD 9/20/22 Current Year Amortization 38376TTT9 09/20/22 Paid Down 466.18 Par Value Of G N MA Gtd Remic 3.000% 11/20/39 Trade Date 9/20/22 38376TTT9 09/20/22 Interest Earned On G N MA Gtd Remic 3.000% 8/20/40 $0.00250/Pv On 7,580.90 Pv Due 9/20/22 38377QKH9 09/20/22 Amortized Premium On G N MA Gtd Remic 3.000% 8/20/40 Fed Basis Decreased By 1.19 USD To 7,652.81 USD 9/20/22 Current Year Amortization 38377QKH9 09/20/22 Paid Down 409.55 Par Value Of G N MA Gtd Remic 3.000% 8/20/40 Trade Date 9/20/22 38377QKH9 09/20/22 Amortized Premium On G N MA Gtd Remic 3.000% 4/20/39 Fed Basis Decreased By 1.00 USD To 12,066.08 USD 9/20/22 Current Year Amortization 38377RVK8 09/20/22 Interest Earned On G N MA Gtd Remic 3.000% 4/20/39 $0.00250/Pv On 24,419.10 Pv Due 9/20/22 38377RVK8 09/20/22 Paid Down 961.95 Par Value Of G N MA Gtd Remic 3.000% 4/20/39 Trade Date 9/20/22 38377RVK8 120.25 34.40 18.95 61.05 - 4,844.32 4,844.32 - 3.08 466.18 - 472.29 - 1.19 409.55 - 413.43 - 1.00 961.95 - 475.31 138 embank 00- -M -PF-PC -274-04 02695804 26958 0215094-00-01445-04 Page 20 of 56 ACCOUNT NUMBER: 256350023 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN BONDS 2013 SERIES A AND 2013 SERIES B 2013A AND B RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/20/22 Amortized Premium On G N MA Gtd Remic 2.000% 5/20/40 Fed Basis Decreased By 1.19 USD To 15,145.71 USD 9/20/22 Current Year Amortization 38377YTL4 09/20/22 Interest Earned On G N MA Gtd Remic 2.000% 5/20/40 $0.00167/Pv On 15,313.57 Pv Due 9/20/22 38377YTL4 09/20/22 Paid Down 455.64 Par Value Of G N MA Gtd Remic 2.000% 5/20/40 Trade Date 9/20/22 38377YTL4 09/20/22 Interest Earned On G N MA Gtd Remic 3.000% 10/20/26 $0.00250/Pv On 18,097.90 Pv Due 9/20/22 38378AU90 09/20/22 Amortized Premium On G N MA Gtd Remic 3.000% 10/20/26 Fed Basis Decreased By 7.91 USD To 18,286.73 USD 9/20/22 Current Year Amortization 38378AU90 09/20/22 Paid Down 2,098.32 Par Value Of G N MA Gtd Remic 3.000% 10/20/26 Trade Date 9/20/22 38378AU90 09/20/22 Amortized Premium On G N MA Gtd Remic 1.500% 8/20/27 Fed Basis Decreased By 11.53 USD To 33,757.87 USD 9/20/22 Current Year Amortization 38378HAU0 09/20/22 Interest Earned On G N MA Gtd Remic 1.500% 8/20/27 $0.00125/Pv On 33,447.33 Pv Due 9/20/22 38378HAU0 09/20/22 Paid Down 933.71 Par Value Of G N MA Gtd Remic 1.500% 8/20/27 Trade Date 9/20/22 38378HAU0 09/20/22 Interest Earned On G N MA Gtd Remic 1.500% 12/20/40 $0.00125/Pv On 11,198.43 Pv Due 9/20/22 38378JZD7 25.52 45.24 41.81 14.00 - 1.19 455.64 - 450.65 - 7.91 2,098.32 - 2,120.21 - 11.53 933.71 - 942.38 09/20/22 Paid Down 466.22 Par Value Of 466.22 - 460.39 G N MA Gtd Remic 1.500% 12/20/40 Trade Date 9/20/22 38378JZD7 139 embank 00- -M -PF-PC -274-04 02695804 26958 0215094-00-01445-04 Page 21 of 56 ACCOUNT NUMBER: 256350023 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN BONDS 2013 SERIES A AND 2013 SERIES B 2013A AND B RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/20/22 Interest Earned On G N MA Gtd Remic 2.500% 7/20/41 $0.00208/Pv On 42,545.88 Pv Due 9/20/22 38378TAF7 09/20/22 Paid Down 1,214.51 Par Value Of G N MA Gtd Remic 2.500% 7/20/41 Trade Date 9/20/22 38378TAF7 09/20/22 Interest Earned On G N MA Gtd Remic 3.000% 4/20/46 $0.00250/Pv On 42,630.53 Pv Due 9/20/22 38380AZ34 09/20/22 Amortized Premium On G N MA Gtd Remic 3.000% 4/20/46 Fed Basis Decreased By 4.73 USD To 42,990.84 USD 9/20/22 Current Year Amortization 38380AZ34 09/20/22 Paid Down 853.65 Par Value Of G N MA Gtd Remic 3.000% 4/20/46 Trade Date 9/20/22 38380AZ34 09/20/22 Interest Earned On G N MA Gtd Remic 3.000% 11/20/45 $0.00250/Pv On 17,354.26 Pv Due 9/20/22 38381AZ58 09/20/22 Amortized Premium On G N MA Gtd Remic 3.000% 11/20/45 Fed Basis Decreased By 1.50 USD To 17,443.62 USD 9/20/22 Current Year Amortization 38381AZ58 09/20/22 Paid Down 1,102.03 Par Value Of G N MA Gtd Remic 3.000% 11/20/45 Trade Date 9/20/22 38381AZ58 09/20/22 Amortized Premium On GNMAII #005276 3.000% 1/20/27 Fed Basis Decreased By 18.75 USD To 53,014.33 USD 9/20/22 Current Year Amortization 36202F2H8 09/20/22 Paid Down 1,516.49 Par Value Of GNMAII #005276 3.000% 1/20/27 For Record Date Of August Due 9/20/22 August GNMA Due 9/20/22 36202F2H8 09/20/22 Interest Earned On GNMAII #005276 3.000% 1/20/27 August GNMA Due 9/20/22 36202F2H8 88.64 106.58 43.39 131.45 1,214.51 - 4.73 853.65 - 860.86 - 1.50 1,102.03 - 1,107.70 - 18.75 1,516.49 - 1,529.21 140 embank 00- -M -PF-PC -274-04 02695804 26958 0215094-00-01445-04 Page 22 of 56 ACCOUNT NUMBER: 256350023 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN BONDS 2013 SERIES A AND 2013 SERIES B 2013A AND B RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/20/22 Amortized Premium On G N M All #Ma0909 3.000% 4/20/28 Fed Basis Decreased By 18.06 USD To 18,873.19 USD 9/20/22 Current Year Amortization 36179NAJ7 09/20/22 Paid Down 620.56 Par Value Of GNMAII #Ma0909 3.000% 4/20/28 For Record Date Of August Due 9/20/22 August GNMA Due 9/20/22 36179NAJ7 09/20/22 Interest Earned On GNMAII #Ma0909 3.000% 4/20/28 August GNMA Due 9/20/22 36179NAJ7 09/20/22 Amortized Premium On GNMAII #005300 3.000% 2/20/27 Fed Basis Decreased By 24.20 USD To 29,100.88 USD 9/20/22 Current Year Amortization 36202F3H7 09/20/22 Paid Down 901.06 Par Value Of GNMAII #005300 3.000% 2/20/27 For Record Date Of August Due 9/20/22 August GNMA Due 9/20/22 36202F3H7 09/20/22 Interest Earned On GNMAII #005300 3.000% 2/20/27 August GNMA Due 9/20/22 36202F3H7 09/20/22 Cash Disbursement Transfer To Principal Income Earnings 09/20/22 Cash Receipt Transfer From Income Income Earnings 09/20/22 Purchased 12,728.14 Units Of First Am Govt Ob Fd CI D Trade Date 9/20/22 31846V401 09/21/22 Cash Disbursement Transfer To Principal Income Earnings 09/21/22 Cash Receipt Transfer From Income Income Earnings 45.97 71.27 - 728.27 - 338.92 - 18.06 620.56 - 636.98 - 24.20 901.06 - 919.79 728.27 - 12,728.14 12,728.14 338.92 141 embank 00- -M -PF-PC -274-04 02695804 26958 0215094-00-01445-04 Page 23 of 56 ACCOUNT NUMBER: 256350023 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN BONDS 2013 SERIES A AND 2013 SERIES B 2013A AND B RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/23/22 Purchased 75,000 Par Value Of F H L M C Mltcl Mt 3.750% 8/25/25 Trade Date 9/20/22 Purchased Through Toronto Dominion Securities (U Swift External Ref#: 00600600005940A 75,000 Par Value At 98.56641333 % 3137FJXQ7 09/23/22 Paid Accrued Interest On Purchase Of F H L M C Mltcl Mt 3.750% 8/25/25 Income Debit 171.88- USD 3137FJXQ7 09/23/22 Sold 74,096.69 Units Of First Am Govt Ob Fd CI D Trade Date 9/23/22 31846V401 09/26/22 Accreted Discount On FNMA #AI3382 2.398% 3/01/23 Fed Basis Increased By 0.39 USD To 79,870.43 USD 9/26/22 Market Discount 3138EKXL4 09/26/22 Accreted Discount On FNMA #AI3382 2.398% 3/01/23 Fed Basis Increased By 0.21 USD To 33,668.75 USD 9/26/22 Market Discount 3138EKXL4 09/26/22 Accreted Discount On FNMA #AI3382 2.398% 3/01/23 Fed Basis Increased By 0.20 USD To 30,115.34 USD 9/26/22 Market Discount 3138EKXL4 09/26/22 Paid Down 52,047.35 Par Value Of FNMA #AI3382 2.398% 3/01/23 P & I Due 09/25/22 3138EKXL4 09/26/22 Interest Earned On FNMA #AI3382 2.398% 3/01/23 P & I Due 09/25/22 3138EKXL4 09/26/22 Accreted Discount On FNMA #An 1613 2.550% 7/01/26 Fed Basis Increased By 21.52 USD To 43,001.22 USD 9/26/22 Market Discount 3138LDYK3 - 171.88 164.38 - 73,924.81 73,924.81 74,096.69 - 74,096.69 0.39 0.21 0.20 52,047.35 - 52,045.68 21.52 09/26/22 Paid Down 90.19 Par Value Of 90.19 - 88.23 FNMA #An 1613 2.550% 7/01/26 P & I Due 09/25/22 3138LDYK3 142 embank 00- -M -PF-PC -274-04 02695804 26958 0215094-00-01445-04 Page 24 of 56 ACCOUNT NUMBER: 256350023 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN BONDS 2013 SERIES A AND 2013 SERIES B 2013A AND B RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Interest Earned On FNMA #An1613 2.550% 7/01/26 P & I Due 09/25/22 3138LDYK3 09/26/22 Interest Earned On FNMA #Bm6007 2.596% 6/01/49 Int Due 9/25/22 3140JAU97 09/26/22 Interest Earned On FNMA Gtd Remic 3.021% 8/25/24 Penalty Payment 3136ALYF2 09/26/22 Interest Earned On FNMA Gtd Remic 2.702% 2/25/26 Penalty Payment 3136ARTE8 09/26/22 Amortized Premium On F H L M C Mltcl Mt 2.905% 4/25/24 Fed Basis Decreased By 303.94 USD To 318,556.34 USD 9/25/22 Current Year Amortization 3137BYPQ7 09/26/22 Interest Earned On F H L M C Mltcl Mt 2.905% 4/25/24 $0.00262/Pv On 312,780.58 Pv Due 9/25/22 3137BYPQ7 09/26/22 Paid Down 11,727.73 Par Value Of F H L M C Mltcl Mt 2.905% 4/25/24 Trade Date 9/25/22 3137BYPQ7 09/26/22 Interest Earned On F H L M C Mltcl Mt 3.284% 6/25/25 0.002737 USD/$1 Pv On 37,000 Par Value Due 9/25/22 3137BLAC2 09/26/22 Interest Earned On F H L M C Mltcl Mt 3.320% 2/25/23 $0.00277/Pv On 38,073.56 Pv Due 9/25/22 3137B36J2 09/26/22 Amortized Premium On F H L M C Mltcl Mt 3.320% 2/25/23 Fed Basis Decreased By 43.08 USD To 38,179.86 USD 9/25/22 Current Year Amortization 3137B36J2 09/26/22 Paid Down 830.81 Par Value Of F H L M C Mltcl Mt 3.320% 2/25/23 Trade Date 9/25/22 3137B36J2 96.52 21.39 0.32 2.52 819.78 101.26 105.34 - 303.94 11,727.73 - 11,944.29 - 43.08 830.81 - 833.13 143 embank 00- -M -PF-PC -274-04 02695804 26958 0215094-00-01445-04 Page 25 of 56 ACCOUNT NUMBER: 256350023 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN BONDS 2013 SERIES A AND 2013 SERIES B 2013A AND B RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Interest Earned On F H L M C MItcl Mt 2.522% 1/25/23 $0.00210/Pv On 129,312.90 Pv Due 9/25/22 3137B1U75 271.77 09/26/22 Amortized Premium On F H L M C MItcl Mt 2.522% 1/25/23 Fed Basis Decreased By 67.34 USD To 131,474.30 USD 9/25/22 Current Year Amortization 3137B1U75 09/26/22 Paid Down 54,577.95 Par Value Of F H L M C MItcl Mt 2.522% 1/25/23 Trade Date 9/25/22 3137B1U75 09/26/22 Amortized Premium On F H L M C Mltcl Mtg 2.637% 1/25/23 Fed Basis Decreased By 308.09 USD To 226,380.52 USD 9/25/22 Current Year Amortization 3137B1UG5 09/26/22 Interest Earned On F H L M C Mltcl Mtg 2.637% 1/25/23 $0.00220/Pv On 219,576.93 Pv Due 9/25/22 3137B1UG5 09/26/22 Paid Down 23,168.99 Par Value Of F H L M C MItcl Mtg 2.637% 1/25/23 Trade Date 9/25/22 3137B1UG5 09/26/22 Interest Earned On F H L M C Mltcl Mtg 2.778% 9/25/22 $0.00232/Pv On 0.00 Pv Due 9/25/22 3137B3NW4 09/26/22 Interest Earned On F H L M C Mltcl Mt 2.76996% 5/25/25 $0.00231/Pv On 175,000.00 Pv Due 9/25/22 3137BJQ71 09/26/22 Interest Earned On F H L M C Mltcl Mtg 3.329% 5/25/25 $0.00277/Pv On 15,000.00 Pv Due 9/25/22 3137BKRJ1 09/26/22 Interest Earned On F H L M C MItcl Mtg 2.802% 1/25/25 $0.00234/Pv On 138,954.37 Pv Due 9/25/22 3137BLW87 482.52 1.87 403.96 41.61 324.46 09/26/22 Amortized Premium On F H L M C Mltcl Mtg 2.802% 1/25/25 Fed Basis Decreased By 153.14 USD To 143,202.70 USD 9/25/22 Current Year Amortization 3137BLW87 - 67.34 54,577.95 - 55,490.19 - 308.09 23,168.99 - 23,886.88 - 153.14 144 embank 00- -M -PF-PC -274-04 02695804 26958 0215094-00-01445-04 Page 26 of 56 ACCOUNT NUMBER: 256350023 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN BONDS 2013 SERIES A AND 2013 SERIES B 2013A AND B RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Paid Down 4,068.27 Par Value Of F H L M C Mltcl Mtg 2.802% 1/25/25 Trade Date 9/25/22 3137BLW87 09/26/22 Interest Earned On F H L M C Mltcl Mtg 3.413% 12/25/26 $0.00284/Pv On 55,000.00 Pv Due 9/25/22 3137BUX60 09/26/22 Interest Earned On F H L M C Mltcl Mt 0.52896% 9/25/24 $0.00243/Pv On 39,870.52 Pv Due 9/25/22 3137F4CY6 09/26/22 Amortized Premium On F H L M C Mltcl Mt 0.52896% 9/25/24 Fed Basis Decreased By 54.83 USD To 41,640.97 USD 9/25/22 Current Year Amortization 3137F4CY6 156.43 97.02 4,068.27 - 4,192.65 - 54.83 09/26/22 Paid Down 15.74 Par Value Of 15.74 - 16.44 F H L M C Mltcl Mt 0.52896% 9/25/24 Trade Date 9/25/22 3137F4CY6 09/26/22 Interest Earned On F H L M C Mltcl Mtg 2.951% 2/25/24 $0.00246/Pv On 26,681.03 Pv Due 9/25/22 3137FCM35 09/26/22 Amortized Premium On F H L M C Mltcl Mtg 2.951% 2/25/24 Fed Basis Decreased By 7.86 USD To 26,812.29 USD 9/25/22 Current Year Amortization 3137FCM35 09/26/22 Paid Down 908.16 Par Value Of F H L M C Mltcl Mtg 2.951% 2/25/24 Trade Date 9/25/22 3137FCM35 09/26/22 Interest Earned On F H L M C Mltcl Mt 0.40248% 1/25/28 $0.00279/Pv On 250,000.00 Pv Due 9/25/22 3137FETNO 09/26/22 Interest Earned On F H L M C Mltcl 2.07452% 8/26/24 $0.00173/Pv On 119,398.09 Pv Due 9/25/22 3137FYUR5 09/26/22 Purchased 151,496.28 Units Of First Am Govt Ob Fd CI D Trade Date 9/26/22 31846V401 65.61 697.92 206.41 - 7.86 908.16 - 912.63 - 151,496.28 151,496.28 145 embank 00- -M -PF-PC -274-04 02695804 26958 0215094-00-01445-04 Page 27 of 56 ACCOUNT NUMBER: 256350023 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN BONDS 2013 SERIES A AND 2013 SERIES B 2013A AND B RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Interest Earned On FNMA Gtd Remic 1.500% 9/25/27 $0.00125/Pv On 24,662.60 Pv Due 9/25/22 3136A8SX9 09/26/22 Amortized Premium On FNMA Gtd Remic 1.500% 9/25/27 Fed Basis Decreased By 9.26 USD To 24,916.07 USD 9/25/22 Current Year Amortization 3136A8SX9 09/26/22 Paid Down 792.87 Par Value Of FNMA Gtd Remic 1.500% 9/25/27 Trade Date 9/25/22 3136A8SX9 09/26/22 Interest Earned On FNMA Gtd Remic 2.000% 11/25/42 $0.00167/Pv On 26,449.53 Pv Due 9/25/22 3136ABNZ2 09/26/22 Amortized Premium On FNMA Gtd Remic 2.000% 11/25/42 Fed Basis Decreased By 4.60 USD To 26,843.25 USD 9/25/22 Current Year Amortization 3136ABNZ2 09/26/22 Paid Down 483.77 Par Value Of FNMA Gtd Remic 2.000% 11/25/42 Trade Date 9/25/22 3136ABNZ2 09/26/22 Interest Earned On FNMA Gtd Remic 2.672% 3/25/23 $0.00223/Pv On 18,042.26 Pv Due 9/25/22 3136AC7J4 09/26/22 Paid Down 755.11 Par Value Of FNMA Gtd Remic 2.672% 3/25/23 Trade Date 9/25/22 3136AC7J4 09/26/22 Interest Earned On FNMA Gtd Remic 1.500% 4/25/23 $0.00125/Pv On 6,441.17 Pv Due 9/25/22 3136ADFF1 09/26/22 Paid Down 1,113.59 Par Value Of FNMA Gtd Remic 1.500% 4/25/23 Trade Date 9/25/22 3136ADFF1 09/26/22 Interest Earned On FNMA Gtd Remic 1.750% 7/25/28 $0.00146/Pv On 28,267.08 Pv Due 9/25/22 3136AEY84 30.83 44.08 40.17 8.05 41.22 - 9.26 792.87 - 801.02 - 4.60 483.77 - 490.97 755.11 - 747.21 1,113.59 - 1,097.58 146 embank 00- -M -PF-PC -274-04 02695804 26958 0215094-00-01445-04 Page 28 of 56 ACCOUNT NUMBER: 256350023 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN BONDS 2013 SERIES A AND 2013 SERIES B 2013A AND B RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Amortized Premium On FNMA Gtd Remic 1.750% 7/25/28 Fed Basis Decreased By 10.64 USD To 28,600.40 USD 9/25/22 Current Year Amortization 3136AEY84 09/26/22 Paid Down 643.67 Par Value Of FNMA Gtd Remic 1.750% 7/25/28 Trade Date 9/25/22 3136AEY84 09/26/22 Interest Earned On FNMA Gtd Remic 2.623% 4/25/23 $0.00224/Pv On 9,302.14 Pv Due 9/25/22 3136AHAEO 09/26/22 Amortized Premium On FNMA Gtd Remic 2.623% 4/25/23 Fed Basis Decreased By 2.63 USD To 9,323.68 USD 9/25/22 Current Year Amortization 3136AHAEO 09/26/22 Paid Down 1.58 Par Value Of FNMA Gtd Remic 2.623% 4/25/23 Trade Date 9/25/22 3136AHAEO 09/26/22 Interest Earned On FNMA Gtd Remic 3.021% 8/25/24 $0.00252/Pv On 18,414.51 Pv Due 9/25/22 3136ALYF2 09/26/22 Paid Down 1,062.2 Par Value Of FNMA Gtd Remic 3.021% 8/25/24 Trade Date 9/25/22 3136ALYF2 09/26/22 Interest Earned On FNMA Gtd Remic 2.702% 2/25/26 $0.00225/Pv On 140,659.17 Pv Due 9/25/22 3136ARTE8 09/26/22 Paid Down 5,883.68 Par Value Of FNMA Gtd Remic 2.702% 2/25/26 Trade Date 9/25/22 3136ARTE8 09/26/22 Interest Earned On FNMA Gtd Remic 2.70674% 6/25/25 $0.00233/Pv On 86,236.17 Pv Due 9/25/22 3136AQHL7 09/26/22 Paid Down 111.66 Par Value Of FNMA Gtd Remic 2.70674% 6/25/25 Trade Date 9/25/22 3136AQHL7 20.81 46.36 316.72 200.72 - 10.64 643.67 - 651.26 - 2.63 1.58 - 1.58 1,062.20 - 1,059.09 5,883.68 - 5,812.89 111.66 - 110.33 147 embank 00- -M -PF-PC -274-04 02695804 26958 0215094-00-01445-04 Page 29 of 56 ACCOUNT NUMBER: 256350023 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN BONDS 2013 SERIES A AND 2013 SERIES B 2013A AND B RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Accreted Discount On FHLMC #Zs8585 3.000% 10/01/30 Fed Basis Increased By 9.54 USD To 27,741.96 USD 9/26/22 Market Discount 3132A9RE9 09/26/22 Paid Down 530.49 Par Value Of FHLMC #Zs8585 3.000% 10/01/30 For Record Date Of August Due 9/25/22 August FHLMC Due 9/25/22 3132A9RE9 09/26/22 Interest Earned On FHLMC #Zs8585 3.000% 10/01/30 August FHLMC Due 9/25/22 3132A9RE9 70.28 09/26/22 Amortized Premium On FHLMC #Zs8063 2.500% 9/01/32 Fed Basis Decreased By 98.82 USD To 137,713.74 USD 9/25/22 Current Year Amortization 3132A85Y1 09/26/22 Paid Down 2,621.98 Par Value Of FHLMC #Zs8063 2.500% 9/01/32 For Record Date Of August Due 9/25/22 August FHLMC Due 9/25/22 3132A85Y1 09/26/22 Interest Earned On FHLMC #Zs8063 2.500% 9/01/32 August FHLMC Due 9/25/22 3132A85Y1 277.33 09/26/22 Amortized Premium On FHLMC #Zt1963 3.500% 11/01/30 Fed Basis Decreased By 301.41 USD To 268,342.50 USD 9/25/22 Current Year Amortization 3132AEFC5 09/26/22 Paid Down 6,217.82 Par Value Of FHLMC #Zt1963 3.500% 11/01/30 For Record Date Of August Due 9/25/22 August FHLMC Due 9/25/22 3132AEFC5 09/26/22 Interest Earned On FHLMC #Zt1963 3.500% 11/01/30 August FHLMC Due 9/25/22 3132AEFC5 749.51 09/26/22 Amortized Premium On FHLMC #Zt1970 3.500% 4/01/33 Fed Basis Decreased By 66.15 USD To 53,989.77 USD 9/25/22 Current Year Amortization 3132AEFK7 9.54 530.49 - 523.54 - 98.82 2,621.98 - 2,712.54 - 301.41 6,217.82 - 6,492.86 - 66.15 148 embank 00- -M -PF-PC -274-04 02695804 26958 0215094-00-01445-04 Page 30 of 56 ACCOUNT NUMBER: 256350023 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN BONDS 2013 SERIES A AND 2013 SERIES B 2013A AND B RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Paid Down 911.78 Par Value Of FHLMC #Zt1970 3.500% 4/01/33 For Record Date Of August Due 9/25/22 August FHLMC Due 9/25/22 3132AEFK7 09/26/22 Interest Earned On FHLMC #Zt1970 3.500% 4/01/33 August FHLMC Due 9/25/22 3132AEFK7 09/26/22 Accreted Discount On FHLMC #Sb8026 2.500% 12/01/34 Fed Basis Increased By 41.64 USD To 46,503.35 USD 9/26/22 Market Discount 3132D54K5 09/26/22 Paid Down 703.77 Par Value Of FHLMC #Sb8026 2.500% 12/01/34 For Record Date Of August Due 9/25/22 August FHLMC Due 9/25/22 3132D54K5 09/26/22 Interest Earned On FHLMC #Sb8026 2.500% 12/01/34 August FHLMC Due 9/25/22 3132D54K5 09/26/22 Amortized Premium On FNMA #BI1077 4.000% 12/01/28 Fed Basis Decreased By 31.47 USD To 39,328.01 USD 9/25/22 Current Year Amortization 3140HSFT3 148.82 101.58 911.78 - 964.78 41.64 703.77 - 671.25 - 31.47 09/26/22 Paid Down 48.68 Par Value Of 48.68 - 50.47 FNMA #BI1077 4.000% 12/01/28 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 3140HSFT3 09/26/22 Interest Earned On FNMA #B11077 4.000% 12/01/28 August FNMA Due 9/25/22 3140HSFT3 09/26/22 Accreted Discount On FNMA #Bm1757 2.413% 4/01/23 Fed Basis Increased By 0.70 USD To 24,194.87 USD 9/26/22 Market Discount 3140J55T2 09/26/22 Paid Down 6,604.75 Par Value Of FNMA #Bm1757 2.413% 4/01/23 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 3140J55T2 130.66 0.70 6,604.75 - 6,603.58 149 embank 00- -M -PF-PC -274-04 02695804 26958 0215094-00-01445-04 Page 31 of 56 ACCOUNT NUMBER: 256350023 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN BONDS 2013 SERIES A AND 2013 SERIES B 2013A AND B RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Interest Earned On FNMA #Bm1757 2.413% 4/01/23 August FNMA Due 9/25/22 3140J55T2 09/26/22 Amortized Premium On FNMA #AI5851 3.500% 10/01/29 Fed Basis Decreased By 24.02 USD To 18,184.92 USD 9/25/22 Current Year Amortization 3138ENQD4 09/26/22 Paid Down 462.41 Par Value Of FNMA #AI5851 3.500% 10/01/29 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 3138ENQD4 09/26/22 Interest Earned On FNMA #AI5851 3.500% 10/01/29 August FNMA Due 9/25/22 3138ENQD4 09/26/22 Amortized Premium On FNMA #A18561 3.500% 6/01/31 Fed Basis Decreased By 75.86 USD To 58,161.60 USD 9/25/22 Current Year Amortization 3138ETQP4 09/26/22 Paid Down 1,353.97 Par Value Of FNMA #A18561 3.500% 6/01/31 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 3138ETQP4 09/26/22 Interest Earned On FNMA #A18561 3.500% 6/01/31 August FNMA Due 9/25/22 3138ETQP4 09/26/22 Amortized Premium On FNMA #Ma2803 2.500% 11/01/31 Fed Basis Decreased By 118.28 USD To 145,859.08 USD 9/25/22 Current Year Amortization 31418CDH4 09/26/22 Paid Down 2,689.63 Par Value Of FNMA #Ma2803 2.500% 11/01/31 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 31418CDH4 09/26/22 Interest Earned On FNMA #Ma2803 2.500% 11/01/31 August FNMA Due 9/25/22 31418CDH4 50.28 50.68 160.94 293.08 - 24.02 462.41 - 483.92 - 75.86 1,353.97 - 1,427.17 - 118.28 2,689.63 - 2,788.63 150 embank 00- -M -PF-PC -274-04 02695804 26958 0215094-00-01445-04 Page 32 of 56 ACCOUNT NUMBER: 256350023 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN BONDS 2013 SERIES A AND 2013 SERIES B 2013A AND B RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Amortized Premium On FNMA #As4860 2.500% 5/01/30 Fed Basis Decreased By 53.34 USD To 62,879.49 USD 9/25/22 Current Year Amortization 3138WEMJ5 09/26/22 Paid Down 1,441.65 Par Value Of FNMA #As4860 2.500% 5/01/30 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 3138WEMJ5 09/26/22 Interest Earned On FNMA #As4860 2.500% 5/01/30 August FNMA Due 9/25/22 3138WEMJ5 126.77 09/26/22 Amortized Premium On FNMA #AI7688 3.500% 11/01/30 Fed Basis Decreased By 48.38 USD To 39,833.68 USD 9/25/22 Current Year Amortization 3138EQRJ3 09/26/22 Paid Down 981.53 Par Value Of FNMA #AI7688 3.500% 11/01/30 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 3138EQRJ3 09/26/22 Interest Earned On FNMA #AI7688 3.500% 11/01/30 August FNMA Due 9/25/22 3138EQRJ3 110.91 09/26/22 Amortized Premium On FNMA #Bm3956 3.000% 12/01/32 Fed Basis Decreased By 44.71 USD To 46,038.40 USD 9/25/22 Current Year Amortization 3140J8ME0 09/26/22 Paid Down 814.32 Par Value Of FNMA #Bm3956 3.000% 12/01/32 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 3140J8ME0 09/26/22 Interest Earned On FNMA #Bm3956 3.000% 12/01/32 August FNMA Due 9/25/22 3140J8ME0 109.88 09/26/22 Accreted Discount On FNMA #Ma4112 3.000% 8/01/35 Fed Basis Increased By 22.37 USD To 56,880.17 USD 9/26/22 Market Discount 31418DSA1 - 53.34 1,441.65 - 1,489.72 - 48.38 981.53 - 1,028.23 - 44.71 814.32 - 852.96 22.37 151 embank 00- -M -PF-PC -274-04 02695804 26958 0215094-00-01445-04 Page 33 of 56 ACCOUNT NUMBER: 256350023 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN BONDS 2013 SERIES A AND 2013 SERIES B 2013A AND B RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Paid Down 978.91 Par Value Of FNMA #Ma4112 3.000% 8/01/35 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 31418DSA1 09/26/22 Interest Earned On FNMA #Ma4112 3.000% 8/01/35 August FNMA Due 9/25/22 31418DSA1 09/26/22 Amortized Premium On FNMA #Fm6017 3.000% 2/01/35 Fed Basis Decreased By 131.56 USD To 139,762.71 USD 9/25/22 Current Year Amortization 3140X9VK8 09/26/22 Paid Down 2,215.26 Par Value Of FNMA #Fm6017 3.000% 2/01/35 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 3140X9VK8 09/26/22 Interest Earned On FNMA #Fm6017 3.000% 2/01/35 August FNMA Due 9/25/22 3140X9VK8 09/26/22 Amortized Premium On FNMA #Ma4309 2.000% 3/01/31 Fed Basis Decreased By 121.80 USD To 201,493.35 USD 9/25/22 Current Year Amortization 31418DYF3 09/26/22 Paid Down 3,142.08 Par Value Of FNMA #Ma4309 2.000% 3/01/31 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 31418DYF3 09/26/22 Interest Earned On FNMA #Ma4309 2.000% 3/01/31 August FNMA Due 9/25/22 31418DYF3 09/26/22 Purchased 56,923.55 Par Value Of FNMA #BI5365 Trade Date 9/21/22 Purchased Through Brean Capital LLC Swift External Ref#: 00600600005960A 56,923.55 Par Value At 91.78124218 % 3140HW6B3 09/26/22 Paid Accrued Interest On Purchase Of FNMA #BI5365 Income Debit 83.41- USD 3140HW6B3 144.72 331.91 327.22 - 83.41 978.91 - 961.88 - 131.56 2,215.26 - 2,332.05 - 121.80 3,142.08 - 3,224.66 - 52,245.14 52,245.14 152 embank 00- -M -PF-PC -274-04 02695804 26958 0215094-00-01445-04 Page 34 of 56 ACCOUNT NUMBER: 256350023 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN BONDS 2013 SERIES A AND 2013 SERIES B 2013A AND B RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Purchased 28,956.77 Par Value Of FNMA Gtd Remic 2.639% 12/25/26 Trade Date 9/21/22 Purchased Through Millennium Advisors, LLC Swift External Ref#: 00600600005950C 28,956.77 Par Value At 93.3437518 % 3136AVY52 09/26/22 Paid Accrued Interest On Purchase Of FNMA Gtd Remic 2.639% 12/25/26 Income Debit 53.09- USD 3136AVY52 09/26/22 Amortized Premium On F H L M C Mltcl Mtg 2.778% 9/25/22 Fed Basis Decreased By 0.66 USD To 809.64 USD 9/25/22 Current Year Amortization 3137B3NW4 - 53.09 - 27,029.34 27,029.34 - 0.66 09/26/22 Matured 809.49 Par Value Of 809.49 - 809.64 F H L M C Mltcl Mtg 2.778% 9/25/22 Trade Date 9/25/22 809.49 Par Value At 100 % 3137B3NW4 09/26/22 Cash Disbursement Transfer To Principal Income Earnings 09/26/22 Cash Receipt Transfer From Income Income Earnings 09/26/22 Sold 32,100.8 Units Of First Am Govt Ob Fd CI D Trade Date 9/26/22 31846V401 09/27/22 Interest Earned On F H L M C MItcl Mt 2.510% 11/25/22 $0.00209/Pv On 258,197.34 Pv Due 9/25/22 3137B1BSO 09/27/22 Amortized Premium On F H L M C Mltcl Mt 2.510% 11/25/22 Fed Basis Decreased By 61.86 USD To 260,075.06 USD 9/25/22 Current Year Amortization 3137B1BSO 09/27/22 Paid Down 34,010.35 Par Value Of FHLMCMItcl Mt 2.510% 11/25/22 Trade Date 9/25/22 3137B1BSO 09/27/22 Purchased 34,550.41 Units Of First Am Govt Ob Fd CI D Trade Date 9/27/22 31846V401 - 3,625.15 540.06 3,625.15 32,100.80 - 32,100.80 - 61.86 34,010.35 - 34,257.69 - 34,550.41 34,550.41 153 embank 00- -M -PF-PC -274-04 02695804 26958 0215094-00-01445-04 Page 35 of 56 ACCOUNT NUMBER: 256350023 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN BONDS 2013 SERIES A AND 2013 SERIES B 2013A AND B RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/27/22 Purchased 50,000 Par Value Of FNMA #109412 3.680% 8/01/28 Trade Date 9/22/22 Purchased Through Brean Capital LLC Swift External Ref#: 00600600005970A 50,000 Par Value At 96.34376 % 313637N55 09/27/22 Paid Accrued Interest On Purchase Of FNMA #109412 3.680% 8/01/28 Income Debit 132.89- USD 313637N55 09/27/22 Cash Disbursement Transfer To Principal Income Earnings 09/27/22 Cash Receipt Transfer From Income Income Earnings 09/27/22 Sold 48,304.77 Units Of First Am Govt Ob Fd CI D Trade Date 9/27/22 31846V401 09/28/22 Cash Disbursement Transfer To Principal Income Earnings 09/28/22 Cash Receipt Transfer From Income Income Earnings 09/30/22 Sold 124,878.13 Units Of First Am Govt Ob Fd CI D Trade Date 9/30/22 31846V401 09/30/22 Interest Earned On U S Treasury Nt 0.250% 9/30/25 0.00125 USD/$1 Pv On 970,000 Par Value Due 9/30/22 91282CAM3 09/30/22 Interest Earned On U S Treasury Nt 0.500% 3/31/25 0.0025 USD/$1 Pv On 365,000 Par Value Due 9/30/22 912828ZF0 09/30/22 Cash Disbursement Transfer To Principal Income Earnings 09/30/22 Cash Receipt Transfer From Income Income Earnings 09/30/22 Purchased 2,125 Units Of First Am Govt Ob Fd CI D Trade Date 9/30/22 31846V401 - 132.89 - 3,928.20 - 540.06 1,212.50 912.50 - 2,125.00 - 48,171.88 48,171.88 3,928.20 48,304.77 540.06 - 48,304.77 124,878.13 - 124,878.13 2,125.00 - 2,125.00 2,125.00 154 embank 00- -M -PF-PC -274-04 02695804 26958 0215094-00-01445-04 Page 36 of 56 ACCOUNT NUMBER: 256350023 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN BONDS 2013 SERIES A AND 2013 SERIES B 2013A AND B RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/30/22 Purchased 125,000 Par Value Of FHLB Disc Nts 10/13/22 Trade Date 9/30/22 Purchased Through Bny Capital Markets, Inc. Swift External Ref#: 00600600005990A 125,000 Par Value At 99.902504 % 313385K47 - 124,878.13 124,878.13 Ending Balance 09/30/2022 $0.00 $0.00 $12,459 901.80 155 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 3 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc Cash Equivalents 1,025,000.000 1,815,540.310 Federal Home Loan Bks Discount Note 10/13/2022 313385K47 First American Government Oblig Fd CI Y #3763 31846V203 1,024,149.25 99.9170 1,815,540.31 1.0000 1,024,000.63 99.90 1,815,540.31 1.00 2.8 .00 0.10 5.0 44,717.12 2.46 Total Cash Equivalents $2,839,689.56 $2,839,540.94 7.8 $44,717.22 US Government Issues 143,214.110 18,585.550 133,162.390 FHLMC Multiclass Mtg Partn C M 0 Ser K027 CI A2 2.637 01/25/2023 3137B1UG5 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cert Pool #A13168 2.409 02/01/2023 3138EKQW8 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cert Pool #AI3251 2.366 02/01/2023 3138EKTH8 Standard & Poors Rating: N/A Moodys Rating: N/A 209,490.490 FHLMC Multiclass Mtg Partn C M 0 Ser K029 CI A2 3.320 02/25/2023 3137B36J2 Standard & Poors Rating: N/A Moodys Rating: N/A 117,160.460 FHLMC Multiclass Mtg Partn C M 0 Ser K722 CI A2 2.406 03/25/2023 3137BQBZ9 Standard & Poors Rating: AAA Moodys Rating: N/A 142,738.64 99.6680 144,567.94 100.95 0.4 3,776.56 2.65 18,548.94 18,576.84 0.1 444.38 99.8030 99.95 2.40 132,930.69 99.8260 208,727.94 99.6360 116, 585.20 99.5090 133,099.97 99.95 211,012.57 100.73 118,075.77 100.78 0.4 3,167.93 2.38 0.6 6,955.08 3.33 0.3 2,818.88 2.42 156 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 4 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 52,215.570 93,311.380 112,948.870 4,125,000.000 377,181.160 525,000.000 62,216.120 72,301.300 FNMA Partn Cert Pool#Bm1757 2.493 04/01/2023 3140J55T2 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser K030 CI A2 04/25/2023 Var 3137B3NA2 Standard & Poors Rating: N/A Moodys Rating: Aaa FNMA Partn Cert Pool #An1746 2.150 09/01/2023 3138LD5G4 Standard & Poors Rating: N/A Moodys Rating: N/A U S Treasury Note 10/31/2023 Var 91282CDE8 Standard & Poors Rating: N/A Moodys Rating: Aaa FHLMC Multiclass Mtg Partn C M 0 Ser K726 CI A2 2.905 04/25/2024 3137BYPQ7 Standard & Poors Rating: AAA Moodys Rating: N/A U S Treasury Note 0.250 06/15/2024 91282CCG4 Standard & Poors Rating: N/A Moodys Rating: Aaa FNMA GtdREMICPass Thru C M 0 Ser 2014 M9 CI A2 07/25/2024 Var 3136AKXVO Standard & Poors Rating: N/A Moodys Rating: N/A FNMA GtdREMICPass Thru C M 0 Ser 2014 M13 CI A2 3.021 08/25/2024 3136ALYF2 Standard & Poors Rating: N/A Moodys Rating: N/A 52,082.94 52,199.25 0.1 1,259.96 99.7460 99.97 2.42 92,874.68 99.5320 111,400.34 98.6290 4,129,166.25 100.1010 368,445.64 97.6840 490, 360.50 93.4020 60, 518.86 97.2720 70,355.67 97.3090 93,792.53 0.3 3,032.62 100.52 3.26 111,819.38 99.00 4,126,117.50 100.03 376,488.69 99.82 522,662.11 99.55 0.3 2,428.40 2.18 11.3 13,406.25 .32 1.0 10,957.11 2.97 1.3 1,312.50 .27 61,943.93 0.2 1,930.57 99.56 3.19 72,089.49 0.2 2,184.22 99.71 3.10 157 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 5 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 205,000.000 116,901.280 347,340.300 410,000.000 109,702.960 1,250,000.000 35,000.000 215,000.000 FHLMC MTN 4.000 12/30/2024 3134GXA61 Standard & Poors Rating: AA+ Moodys Rating: Aaa FHLMC Multiclass Mtg Partn C M 0 Ser K050 CI Al 2.802 01/25/2025 3137BLW87 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser K731 CI A2 02/25/2025 Var 3137F4WZ1 Standard & Poors Rating: N/A Moodys Rating: N/A Federal Home Loan Bks 2.200 02/28/2025 3130AR2C4 Standard & Poors Rating: AA+ Moodys Rating: Aaa FHLMC Multiclass Mtg Partn C M 0 Ser K 051 CI Al 2.887 04/25/2025 3137BM7B6 Standard & Poors Rating: N/A Moodys Rating: N/A U S Treasury Note 2.125 05/15/2025 912828X81 Standard & Poors Rating: N/A Moodys Rating: Aaa FHLMC Multiclass Mtg Partn C M 0 Ser K047 CI A2 3.329 05/25/2025 3137BKRJ1 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser K048 CI A2 06/25/2025 Var 3137BLAC2 Standard & Poors Rating: N/A Moodys Rating: N/A 202,138.20 98.6040 114,218.40 97.7050 339,681.45 97.7950 387,905.10 94.6110 107,127.13 97.6520 1,184,037.50 94.7230 205,000.00 100.00 116,499.45 99.66 349,714.69 100.68 410,000.00 100.00 108,678.79 99.07 1,273,691.74 101.90 0.6 8,200.00 4.06 0.3 3,275.57 2.87 0.9 12,504.25 3.68 1.1 9,020.00 2.32 0.3 3,167.12 2.96 3.3 26,562.50 2.24 33,874.40 34,870.12 0.1 1,165.15 96.7840 99.63 3.44 207,776.00 96.6400 210,364.06 97.84 0.6 7,060.60 3.40 158 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 6 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 170,000.000 375,000.000 300,000.000 350,000.000 375,000.000 88,162.140 449,251.600 372,857.570 FHLMC Multiclass Mtg Partn C M 0 Ser K733 CI A2 08/25/2025 Var 3137FJXQ7 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser 1484 CI J 3.308 09/25/2025 3137BM7C4 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser K052 CI A2 3.151 11/25/2025 3137BMTX4 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cert Pool #611359 3.460 01/01/2026 3140HSQM6 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser Kbxl CI A2 2.920 01/25/2026 3137F4CZ3 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cert Pool#An0992 3.120 02/01/2026 3138LDC68 Standard & Poors Rating: N/A Moodys Rating: N/A FNMAGtdREMICPassThru C M 0 Ser 2016 M3 CI A2 2.702 02/25/2026 3136ARTE8 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cert Pool#An1613 2.550 07/01/2026 3138LDYK3 Standard & Poors Rating: N/A Moodys Rating: N/A 165,697.30 97.4690 361,496.25 96.3990 287,466.00 95.8220 343,063.00 98.0180 359,902.50 95.9740 83,938.29 95.2090 422,804.16 94.1130 347,876.11 93.3000 167,562.89 98.57 370,250.00 98.73 298,675.78 99.56 352,802.73 100.80 372,128.91 99.23 0.5 6,375.00 3.85 1.0 12,405.15 3.43 0.8 9,452.88 3.29 0.9 12,110.00 3.53 1.0 2,776.50 .77 87,445.83 0.2 2,750.66 99.19 3.28 440,898.34 98.14 364,147.85 97.66 1.2 12,138.78 2.87 1.0 9,507.87 2.73 159 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 7 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 30,102.190 500,000.000 398,155.650 94,872.580 71,106.430 100,000.000 FHLMC Multiclass Mtg Partn C M 0 Ser 4272 CI Yg 2.000 11/15/2026 3137B6DF5 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser K062 CI A2 3.413 12/25/2026 3137BUX60 Standard & Poors Rating: N/A Moodys Rating: N/A FNMAGtdREMICPassThru C M 0 Ser 2017 M4 CI A2 12/25/2026 Var 3136AVY52 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cert Pool #615365 2.110 02/01/2027 3140HW6B3 Standard & Poors Rating: N/A Moodys Rating: N/A G N M A Pass Thru Cert Pool #778953 3.000 03/15/2027 36176XE21 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser S8Fx CI A2 3.291 03/25/2027 3137BXRT1 Standard & Poors Rating: N/A Moodys Rating: N/A 53,444.480 FHLMC Multiclass Mtg Partn C M 0 Ser 4039 CI Qb 1.500 05/15/2027 3137AQQE1 Standard & Poors Rating: N/A Moodys Rating: N/A 39,016.320 GNMAGtdREMICPassThru C M 0 Ser 2012 96 CI Ad 1.500 08/20/2027 38378HAU0 Standard & Poors Rating: N/A Moodys Rating: N/A 29,516.10 98.0530 477,880.00 95.5760 368,166.57 92.4680 85,964.99 90.6110 69,166.65 97.2720 30,600.04 101.65 2.04 501,484.38 100.30 382,680.47 96.11 0.1 602.04 1.3 17,065.00 3.57 1.0 10,507.33 2.85 87,075.24 0.2 2,001.81 91.78 2.33 73,251.41 0.2 2,133.19 103.02 3.08 94,730.00 96,703.13 0.3 3,291.00 94.7300 96.70 3.47 50,820.89 95.0910 36,733.08 94.1480 54,209.28 101.43 1.58 37,041.83 94.94 1.59 0.1 801.67 0.1 585.24 160 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 8 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 200,000.000 117,457.080 45,211.890 45,325.650 158,000.000 750,000.000 75,221.900 117,640.100 FHLMC Multiclass Mtg Partn C M 0 Ser Kir3 CI A2 3.281 08/25/2027 3137FBAJ5 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser Kir3 CI Al 3.038 08/25/2027 3137FBAB2 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser 4328 CI Ea 2.500 12/15/2027 3137B9RN7 Standard & Poors Rating: N/A Moodys Rating: N/A GNMAIIPass Thru Cert Pool #Ma0602 3.000 12/20/2027 36179MU32 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser K072 CI A2 3.444 12/25/2027 3137FEBQ2 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser K073 CI A2 3.350 01/25/2028 3137FETNO Standard & Poors Rating: N/A Moodys Rating: N/A G N M A II Pass Thru Cert Pool #Ma0908 2.500 04/20/2028 36179NAH1 Standard & Poors Rating: N/A Moodys Rating: N/A G N M A II Pass Thru Cert Pool #Ma0909 3.000 04/20/2028 36179NAJ7 Standard & Poors Rating: N/A Moodys Rating: N/A 188,700.00 94.3500 113,405.99 96.5510 44,501.16 98.4280 43,808.15 96.6520 149,962.54 94.9130 708,330.00 94.4440 210,479.94 105.24 127,624.21 108.66 0.5 6,562.00 3.48 0.3 3,261.83 2.88 45,960.48 0.1 1,130.30 101.66 2.54 46,921.44 0.1 1,359.77 103.52 3.10 159,681.13 101.06 740,156.25 98.69 0.4 5,441.52 3.63 1.9 3,018.60 .43 71,811.34 77,807.76 0.2 1,880.55 95.4660 103.44 2.62 113,860.32 96.7870 116,426.95 98.97 0.3 3,529.20 3.10 161 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 9 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 62,121.850 FNMA GtdREMICPass Thru CMOSer 201327CIKa 1.250 04/25/2028 3136ADZA0 Standard & Poors Rating: N/A Moodys Rating: N/A 82,114.150 GNMAII Partn Cert Pool #Ma1134 3.000 07/20/2028 36179NHK7 100,000.000 127,478.270 118,391.580 350,000.000 172,970.110 173,360.810 FNMA Partn Cert Pool #109412 3.680 08/01/2028 313637N55 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser K095 CI Al 2.631 11/25/2028 3137FNAD2 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cert Pool #BI1077 4.000 12/01/2028 3140HSFT3 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser K089 CI A2 3.563 01/25/2029 3137FL6P4 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser K099 CI Al 2.258 06/25/2029 3137FPJF3 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn CMOSerK101 CI Al 2.190 07/25/2029 3137FQ3Y7 Standard & Poors Rating: N/A Moodys Rating: N/A 58,431.81 94.0600 79,139.15 96.3770 95,951.00 95.9510 119,739.06 93.9290 115, 316.95 97.4030 331,950.50 94.8430 159,212.07 92.0460 158,798.50 91.6000 62,730.44 0.2 776.52 100.98 1.33 84,347.52 102.72 96,343.75 96.34 129,616.71 101.68 122,840.51 103.76 350,601.56 100.17 174,011.42 100.60 173,806.58 100.26 0.2 2,463.42 3.11 0.3 3,680.00 3.83 0.3 3,664.95 3.06 0.3 4,735.66 4.11 0.9 2,174.76 .65 0.4 3,905.67 2.45 0.4 4,354.75 2.74 162 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 10 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 381,472.060 55,744.910 266,812.140 118,443.650 125,226.540 43,412.640 118,787.210 63,539.940 FHLMC Multiclass Mtg Partn C M 0 Ser K159 CI Al 3.950 12/25/2029 3137FKKM7 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cert Pool #Ma0293 4.500 01/01/2030 31417YKF3 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser K152 CI Al 2.830 05/25/2030 3137BPVM8 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Gold Partn Cert Pool #G18561 3.000 07/01/2030 3128MMTTO Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Gold Partn Cert Pool #J32243 3.000 07/01/2030 31307NP40 Standard & Poors Rating: N/A Moodys Rating: N/A GNMAII Partn Cert Pool #Ma2936 3.500 07/20/2030 36179RHM4 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Gold Partn Cert Pool #G18568 2.500 09/01/2030 3128MMT29 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Gold Partn Cert Pool #G18569 3.000 09/01/2030 3128MMT37 Standard & Poors Rating: N/A Moodys Rating: N/A 375,830.09 98.5210 54,282.72 97.3770 247,951.19 92.9310 111,988.47 94.5500 118,206.34 94.3940 41,259.37 95.0400 110,356.88 92.9030 60,076.38 94.5490 387,566.67 101.60 1.0 15,045.41 4.00 28,279.21 0.2 2,508.52 50.73 4.62 255,972.90 95.94 117,111.16 98.88 132,895.19 106.12 0.7 7,550.68 3.04 0.3 3,553.31 3.17 0.3 3,756.80 3.18 45,391.90 0.1 1,519.44 104.56 3.68 115,149.36 96.94 0.3 2,969.68 2.69 62,656.34 0.2 1,906.20 98.61 3.17 163 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 11 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 176,483.950 91,933.330 66,996.500 114,831.200 65,417.070 42,501.250 45,761.390 93,939.370 F H L M C Multiclass Mtg Partn C M O Ser 2020 P003 CI A1 0.826 09/25/2030 3137FWHY9 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Partn Cert Mirror Pool #Zs8585 3.000 10/01/2030 3132A9RE9 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Gold Partn Cert Pool #G18571 2.500 10/01/2030 3128MMT52 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cert Umbs Pool #Ma4226 2.000 12/01/2030 31418DVU3 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Gold Partn Cert Pool #G18586 2.500 02/01/2031 3128MMUL5 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cert Pool #Ma2803 2.500 11/01/2031 31418CDH4 Standard & Poors Rating: N/A Moodys Rating: N/A FNMAGtdREMICPassThru C M 0 Ser 2015 89 CI Ke 2.000 11/25/2031 3136AQZK9 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cert Umbs Pool#Fm1155 2.500 06/01/2032 3140X4H90 Standard & Poors Rating: N/A Moodys Rating: N/A 147,487.64 83.5700 86,593.84 94.1920 62,241.09 92.9020 103,097.75 89.7820 60,771.15 92.8980 39,433.93 92.7830 42,820.31 93.5730 87,165.40 92.7890 175,601.52 99.50 0.4 1,457.76 .99 90,640.52 0.2 2,758.00 98.59 3.18 69,727.26 0.2 1,674.91 104.08 2.69 119,197.23 103.80 0.3 2,296.62 2.23 67,705.80 0.2 1,635.43 103.50 2.69 41,093.40 0.1 1,062.53 96.69 2.69 47,000.98 102.71 2.14 0.1 915.23 98,452.97 0.2 2,348.48 104.80 2.69 164 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 12 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 87,810.180 60,063.080 42,520.640 77,929.950 61,716.860 96,387.130 51,767.990 49,284.200 FHLMCPartnCart Mirror Pool #Zs8665 3.000 07/01/2032 3132A9TW7 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Partn Cert Pool #Zs8063 2.500 09/01/2032 3132A85Y1 Standard & Poors Rating: N/A Moodys Rating: N/A GNMAII Partn Cart Pool #Ma4691 3.500 09/20/2032 36179TF83 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Partn Cert Mirror Pool #Zs8673 3.000 10/01/2032 3132A9T64 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cert Pool#Bm1978 3.000 10/01/2032 3140J6FU6 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Partn Cert Pool #Zt1989 3.500 01/01/2033 3132AEF68 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMCPartn Cert Umbs Pool#Sb8015 2.500 11/01/2034 3132D53Y6 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA PartnCart Pool #Fm3935 2.500 11/01/2034 3140X7LR8 Standard & Poors Rating: N/A Moodys Rating: N/A 81,837.33 93.1980 55,731.93 92.7890 40,418.84 95.0570 72,628.38 93.1970 57,514.56 93.1910 91,212.10 94.6310 47,098.00 90.9790 45,679.06 92.6850 86,259.78 0.2 2,634.31 98.23 3.22 58,129.80 0.2 1,501.58 96.78 2.69 44,684.92 0.1 1,488.22 105.09 3.68 81,208.07 0.2 2,337.90 104.21 3.22 65,121.17 0.2 1,851.51 105.52 3.22 103,575.31 107.46 0.3 3,373.55 3.70 49,252.39 0.1 1,294.20 95.14 2.75 47,774.84 0.1 1,232.11 96.94 2.70 165 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 13 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 144,156.850 563,516.430 138,407.710 55,531.510 82,673.540 170,726.120 159,563.940 136,006.910 FHLMC Partn Cert Umbs Pool#Sb8026 2.500 12/01/2034 3132D54K5 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA PartnCart Pool #Fm3340 3.500 05/01/2035 3140X6WA5 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cert Umbs Pool #Ma4074 2.000 06/01/2035 31418DQ47 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Partn Cert Pool#Sb8057 2.000 08/01/2035 3132D55S7 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cert Pool #Fm3936 2.500 08/01/2035 3140X7LS6 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cert Umbs Pool #Ma4112 3.000 08/01/2035 31418DSA1 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMCPartnCert Pool#Sb8505 2.500 10/01/2035 3132D6NW6 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA PartnCart Umbs Pool #Ma4279 2.000 03/01/2036 31418DXH0 Standard & Poors Rating: N/A Moodys Rating: N/A 131,152.46 90.9790 535,673.08 95.0590 122,112.97 88.2270 48,993.79 88.2270 76,699.55 92.7740 158,722.37 92.9690 144,968.63 90.8530 119,986.66 88.2210 137,151.74 95.14 558,794.80 99.16 142,809.82 103.18 0.4 3,603.92 2.75 1.5 19,723.08 3.68 0.3 2,768.15 2.27 51, 505.47 0.1 1,110.63 92.75 2.27 86,526.23 0.2 2,066.84 104.66 2.69 167,578.37 98.16 153,505.50 96.20 140,539.14 103.33 0.4 5,121.78 3.23 0.4 3,989.10 2.75 0.3 2,720.14 2.27 166 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 14 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 410,922.660 167,221.800 44,162.210 59,811.110 36,850.020 76,883.780 130,069.150 41,864.530 FNMA PartnCart Umbs Pool #Ma4497 2.000 11/01/2036 31418D7K2 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA PartnCart Umbs Pool #Ma4603 2.500 04/01/2037 31418EDH0 Standard & Poors Rating: N/A Moodys Rating: N/A GNMAGtdREMICPassThru C M 0 Ser 2010 19 CI Ua 4.000 07/16/2039 38376V2E6 Standard & Poors Rating: N/A Moodys Rating: N/A GNMAGtdREMICPassThru C M 0 Ser 2010 15 CI Pd 4.000 10/20/2039 38376WA62 Standard & Poors Rating: N/A Moodys Rating: N/A GNMAGtdREMICPassThru C M O Ser 2011 136 CI Ga 2.000 05/20/2040 38377YTL4 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA GtdREMICPass Thru C M 0 Ser 2010 123 CI Pm 4.000 07/25/2040 31398NY24 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMCPartn Cart Pool #Sc0096 3.000 10/01/2040 3132D9C93 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA GtdREMICPass Thru C M 0 Ser 2012 113 CI Pb 2.000 10/25/2040 3136A8V64 Standard & Poors Rating: N/A Moodys Rating: N/A 362,499.53 88.2160 151,484.56 90.5890 43,938.75 99.4940 59,036.56 98.7050 36,361.02 98.6730 384,212.70 93.50 159,017.47 95.09 1.0 8,218.45 2.27 0.4 4,180.55 2.76 46,190.91 0.1 1,766.49 104.59 4.02 49,802.62 0.2 2,392.44 83.27 4.05 35,698.46 96.88 2.03 0.1 737.00 75,625.96 77,256.18 0.2 3,075.35 98.3640 100.48 4.07 117,032.32 89.9770 39,460.25 94.2570 137,921.00 106.04 39,391.91 94.09 2.12 0.3 3,902.07 3.33 0.1 837.29 167 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 15 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 90,909.180 139,436.170 96,895.590 43,339.270 200,000.000 108,087.290 GNMAGtdREMICPassThru CMOSer 20135CIJe 2.000 07/20/2042 38378FRB8 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA GtdREMICPass Thru C M 0 Ser 2012 148 CI Mc 2.000 11/25/2042 3136ABNZ2 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser 4165 CI Te 1.750 12/15/2042 3137AYSH5 Standard & Poors Rating: N/A Moodys Rating: N/A GNMAGtdREMICPassThru C M 0 Ser 2018 153 CI Wj 3.000 11/20/2045 38381AZ58 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser K063 CI A2 02/25/2050 Var 3137BVZ82 Standard & Poors Rating: N/A Moodys Rating: N/A GNMAGtdREMICPassThru C M 0 Ser 2014 166 CI PI 05/16/2055 Var 38378XP62 Standard & Poors Rating: N/A Moodys Rating: N/A 82,944.63 91.2390 135,046.72 96.8520 88,343.59 91.1740 42,551.80 98.1830 191,208.00 95.6040 95,431.35 88.2910 89,573.96 0.2 1,818.18 98.53 2.19 134,294.47 96.31 0.4 2,788.72 2.06 98,910.98 0.2 1,695.67 102.08 1.92 43, 583.05 0.1 1,300.18 100.56 3.06 201,195.31 100.60 109,216.54 101.04 0.5 6,860.00 3.59 0.3 2,702.18 2.83 Total US Government Issues $19,810,592.20 $20,622,704.90 54.3 $433,123.86 Corporate Issues .010 Capital One Prime Auto 0.01 0.01 0.0 0.00 A B S Ser 2019 1 CI A3 100.0000 @ 100.00 .00 2.510 11/15/2023 14042WAC4 Standard & Poors Rating: AAA Moodys Rating: Aaa Date Last Priced: 09/16/22 168 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 16 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 411,000.000 18,530.870 450,000.000 84,846.970 140,000.000 500,000.000 500,000.000 500,000.000 Ford Credit Auto Ls Tr A B S Ser 2020 B CI B 1.000 11/15/2023 34531 RAF4 Standard & Poors Rating: AAA Moodys Rating: Aaa Nissan Auto Receivable Owner A B S Ser 2019 B CI A3 2.500 11/15/2023 65479HAC1 Standard & Poors Rating: N/A Moodys Rating: Aaa Caterpillar Finl Service Medium Term Note 3.650 12/07/2023 14913Q2S7 Standard & Poors Rating: A Moodys Rating: A2 John Deere Owner Trust ABSSer 2019BCIA3 2.210 12/15/2023 477870AC3 Standard & Poors Rating: N/A Moodys Rating: Aaa Simon Ppty Group L P 01/11/2024 Var 828807DR5 Standard & Poors Rating: A- Moodys Rating: A3 Wells Fargo Company Medium Term Note 3.750 01/24/2024 95000U2C6 Standard & Poors Rating: BBB+ Moodys Rating: Al National Rural Util Coop 2.950 02/07/2024 637432NL5 Standard & Poors Rating: A- Moodys Rating: Al IBM Corp 3.625 02/12/2024 459200HU8 Standard & Poors Rating: A- Moodys Rating: A3 410,112.24 99.7840 18,523.64 99.9610 444,978.00 98.8840 84,751.94 99.8880 138,881.40 99.2010 492,200.00 98.4400 488,435.00 97.6870 493,270.00 98.6540 410,341.76 99.84 18,695.69 100.89 2.50 1.1 4,110.00 1.00 456,489.00 101.44 0.1 463.27 1.2 16,425.00 3.69 85,377.26 0.2 1,875.12 100.62 2.21 140,000.00 100.00 505,015.00 101.00 501,670.00 100.33 508,175.00 101.64 0.4 1,705.98 1.23 1.4 18,750.00 3.81 1.3 14,750.00 3.02 1.4 18,125.00 3.67 169 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 17 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 455,000.000 54,901.180 154,892.620 455,000.000 500,000.000 450,000.000 500,000.000 5,788.180 Goldman Sachs Group Inc 03/08/2024 Var 38141 GXW9 Standard & Poors Rating: BBB+ Moodys Rating: A2 Carmax Auto Owner Trust A B S Ser 2019 2 CI A3 2.680 03/15/2024 14316LAC7 Standard & Poors Rating: AAA Moodys Rating: N/A Ford Credit Auto Owner Trust A B S Ser 2019 CI A3 1.870 03/15/2024 34531 KAD4 Standard & Poors Rating: AAA Moodys Rating: Aaa Jpmorgan Chase Co 03/16/2024 Var 46647PCA2 Standard & Poors Rating: A- Moodys Rating: Al Bank Of America Corp Medium Term Note 4.000 04/01/2024 06051 GFF1 Standard & Poors Rating: A- Moodys Rating: A2 Southern Ca Edison Co 1M GIbI 2021 C 24 04/01/2021 Var 842400HC0 Standard & Poors Rating: A- Moodys Rating: A3 Suntrust Bank 3.200 04/01/2024 86787EBC0 Standard & Poors Rating: A Moodys Rating: A2 CNH Equipment Trust A B S Ser 2019 A CI A3 3.010 04/15/2024 12596JAC7 Standard & Poors Rating: AAA Moodys Rating: Aaa 451,027.85 99.1270 54,874.28 99.9510 154,486.80 99.7380 451,737.65 99.2830 494,235.00 98.8470 443,007.00 98.4460 488,125.00 97.6250 455,399.95 100.09 1.2 10,671.57 2.37 55,529.54 0.2 1,471.35 101.14 2.68 155,812.30 100.59 456,879.15 100.41 508,285.00 101.66 450,958.50 100.21 503,100.00 100.62 5,786.79 5,827.52 99.9760 0.4 2,896.49 1.88 1.2 2,863.50 .63 1.4 20,000.00 4.05 1.2 13,490.33 3.04 1.4 16,000.00 3.28 0.0 174.22 100.68 3.01 170 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 18 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 90,929.040 500,000.000 32,903.290 173,056.070 172, 540.450 84,428.270 350,000.000 500,000.000 Honda Auto Receivables A B S Ser 2020 1 CI A3 1.610 04/22/2024 43813RAC1 Standard & Poors Rating: N/A Moodys Rating: Aaa Morgan Stanley Medium Term Note 3.875 04/29/2024 61746BDQ6 Standard & Poors Rating: A- Moodys Rating: Al World Omni Auto Receivables A B S Ser 2019 B CI A3 2.590 07/15/2024 98162VAD 1 Standard & Poors Rating: AAA Moodys Rating: N/A Carmax Auto Owner Trust A B S Ser 2019 3 CI A3 2.180 08/15/2024 14315PAD7 Standard & Poors Rating: AAA Moodys Rating: N/A Gm Fin Cons Auto Rec Tr A B S Ser 2021 3 CI A2 0.210 08/16/2024 380140AB9 Standard & Poors Rating: AAA Moodys Rating: N/A Captial One Prime Auto A B S Ser 2020 1 CI A3 1.600 11/15/2024 14043MAC5 Standard & Poors Rating: AAA Moodys Rating: N/A Discover Card Execution Note Trust A B S Ser 2017 A7 CI A7 04/15/2025 Var 254683CC7 Standard & Poors Rating: AAA Moodys Rating: Aaa American Express Credit Account A B S Ser 2017 7 CI A 2.350 05/15/2025 02582JHL7 Standard & Poors Rating: AAA Moodys Rating: N/A 90,163.42 99.1580 490,855.00 98.1710 32,886.84 99.9500 172,261.74 99.5410 171,353.37 99.3120 83,670.95 99.1030 350,007.00 100.0020 499,850.00 99.9700 90,648.44 0.3 1,463.96 99.69 1.62 505,350.00 101.07 33,114.07 100.64 2.59 1.4 19,375.00 3.95 174,009.23 100.55 172,122.57 99.76 0.1 852.20 0.5 3,772.62 2.19 0.5 362.33 .21 84,085.28 0.2 1,350.85 99.59 1.61 350,437.50 100.13 501,582.03 100.32 1.0 11,122.30 3.18 1.4 11,750.00 2.35 171 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 19 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 320,000.000 300,000.000 350,000.000 500,000.000 60,000.000 344,481.680 249,706.810 250,000.000 Carmax Auto Owner Trust ABSSer20222CIA2A 2.810 05/15/2025 14317HAB7 Standard & Poors Rating: AAA Moodys Rating: Aaa Citibank Credit Card Issuance Trust A B S Ser 2018 A3 CI A3 3.290 05/23/2025 17305EGM1 Standard & Poors Rating: AAA Moodys Rating: Aaa Discover Card Execution Note Trust A B S Ser 2018 A2 CI A2 08/15/2025 Var 254683CE3 Standard & Poors Rating: AAA Moodys Rating: Aaa American Express Credit Account A B S Ser 2018 3 CI A 10/15/2025 Var 02582JHS2 Standard & Poors Rating: N/A Moodys Rating: Aaa Sunchrony Credit Card Master Note A B S Ser 2017 2 CI A 2.620 10/25/2025 87165LBU4 Standard & Poors Rating: AAA Moodys Rating: N/A Carmax Auto Owner Tr ABSSer20211 CIA3 12/15/2025 Var 14316NAC3 Standard & Poors Rating: AAA Moodys Rating: N/A Santander Drive Auto Tr 2020 3 A B S Ser 2020 3 CI C 1.120 12/015/2025 80285WAF4 Standard & Poors Rating: N/A Moodys Rating: Aaa Carmax Auto Own A B S Ser 2021 2 CI A3 02/17/2026 Var 14314QAC8 Standard & Poors Rating: AAA Moodys Rating: N/A 317,603.20 99.2510 297,975.00 99.3250 349,958.00 99.9880 499,930.00 99.9860 59,986.80 99.9780 333,341.14 96.7660 247,888.94 99.2720 241,670.00 96.6680 319,975.49 99.99 305,398.44 101.80 350,410.16 100.12 501,328.13 100.27 0.9 8,992.00 2.83 0.8 9,870.00 3.31 1.0 9,840.95 2.81 1.4 14,006.83 2.80 60,206.25 0.2 1,572.00 100.34 2.62 339,260.63 98.48 249,345.90 99.86 246,103.52 98.44 0.9 1,171.24 .35 0.7 2,796.72 1.13 0.7 1,300.00 .54 172 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 20 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 350,000.000 277,000.000 150,000.000 350,000.000 Capital One Multi Asset Execution A B S Ser 2018 A2 CI A2 03/16/2026 Var 14041NFS5 Standard & Poors Rating: AAA Moodys Rating: N/R Ford Credit Floorplan Master A B S Ser 2019 4 CI A 2.440 09/15/2026 34528QHF4 Standard & Poors Rating: AAA Moodys Rating: Aaa Capital One Multi Asset A B S Ser 2022 Al CI Al 2.800 03/15/2027 14041NFZ9 Standard & Poors Rating: AAA Moodys Rating: N/A American Express Credit C M 0 Ser 2022 2 CI A 3.390 05/17/2027 02582JJT8 Standard & Poors Rating: AAA Moodys Rating: N/A 349,846.00 99.9560 264,219.22 95.3860 143,572.50 95.7150 338,614.50 96.7470 350,533.20 100.15 268,906.41 97.08 146,015.63 97.34 347,210.94 99.20 1.0 9,913.29 2.83 0.7 6,758.80 2.56 0.4 4,200.00 2.92 0.9 11,865.00 3.50 Total Corporate Issues $10,450,086.22 $10,613,599.50 28.7 $276,107.92 Foreign Issues 450,000.000 455,000.000 500,000.000 Royal Bk Of Canada Medium Term Note 10/26/2023 Var 78015K7K4 Standard & Poors Rating: A Moodys Rating: Al Credit Suisse Ag New York 02/02/2024 Var 22550UAB7 Standard & Poors Rating: A Moodys Rating: A2 Toronto Dominion Bank Medium Term Note 2.350 03/08/2024 89114TZR6 Standard & Poors Rating: A Moodys Rating: Al 448,330.50 99.6290 446, 391.40 98.1080 482,395.00 96.4790 451,887.75 100.42 455,728.00 100.16 494,710.00 98.94 1.2 6,499.30 1.45 1.2 12,130.30 2.72 1.3 11,750.00 2.44 173 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 21 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc Total Foreign Issues $1,377,116.90 $1,402,325.75 3.8 $30,379.60 Municipal Issues 520,000.000 215,000.000 350,000.000 280,000.000 245,000.000 410,000.000 Dallas Tx Area Rapid Tran Sales Tax Rev Taxable Sr Lien Ref Bds 2021 A 4.00012/01/2022 Taxable 235241VW3 Standard & Poors Rating: AA+ Moodys Rating: Aa2 New York Ny Taxable Go Bds Fiscal 1.150 03/01/2023 Taxable 64966QJD3 Standard & Poors Rating: AA Moodys Rating: Aa2 Port Auth N Y N J Taxable Consolidated Nts AAA Ny 1.086 07/01/2023 Taxable 73358W4V3 Standard & Poors Rating: AA- Moodys Rating: Aa3 San Diego Cnty Calif Regl Arptauth Arpt Rev Taxable Sub Ref Bds 2021 Ca 0.654 07/01/2023 Taxable 79739GPB6 Standard & Poors Rating: N/A Moodys Rating: A2 University Wa Univ Revs Taxable Gen Ref Bds 2022 B 1.470 07/01/2023 Taxable 91523NWT9 Standard & Poors Rating: AA+ Moodys Rating: Aaa Ref Bds 2021 0.921 02/01/2024 Taxable 346604LK5 Standard & Poors Rating: AAA Moodys Rating: Aaa 520,410.80 100.0790 212,637.15 98.9010 341,194.00 97.4840 271,493.60 96.9620 240,278.85 98.0730 393,185.90 95.8990 539,016.40 103.66 215,503.10 100.23 348,143.50 99.47 280,000.00 100.00 245,000.00 100.00 410,000.00 100.00 1.4 20,800.00 4.00 0.6 2,472.50 1.16 0.9 3,801.00 1.11 0.7 1,831.20 .67 0.7 3,601.50 1.50 1.1 3,776.10 .96 Total Municipal Issues $1,979,200.30 $2,037,663.00 5.4 $36,282.30 Total Assets $36,456,685.18 $37,515,834.09 100.0 $820,610.90 174 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 24 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL Date Income Principal Tax Posted Description Cash Cash Cost Beginning Balance 09/01/2022 - $2,093.75 09/01/22 Interest Earned On Citigroup Inc 3.02786% 9/01/23 0.007693 USD/$1 Pv On 500,000 Par Value Due 9/1/22 172967KX8 09/01/22 Sold 22.27 Units Of First Am Govt Ob Fd CI Y Trade Date 9/1/22 31846V203 09/01/22 Sold 200,000 Par Value Of U S Treasury Nt 0.325% 10/31/23 Trade Date 8/31/22 Sold Through Mtgsus6Sfic BofA Secs New York Swift External Ref#: 00953900003530A 200,000 Par Value At 100.074065 % 91282CDE8 09/01/22 Received Accrued Interest On Sale Of U S Treasury Nt 0.325% 10/31/23 Income Credit 474.56 USD 91282CDE8 09/01/22 Full Call 500,000 $1 Pv Citigroup Inc 3.02786% 9/01/23 On 09/01/22 At 1.00 USD ST Capital Loss Of 4,058.00- USD On Federal Cost Federal Tax Cost 504,058.00 USD Corporate Action Id: 177175 172967KX8 09/01/22 Interest Earned On New York Ny 1.150% 3/01/23 0.00575 USD/$1 Pv On 215,000 Par Value Due 9/1/22 64966QJD3 09/01/22 Cash Disbursement Transfer To Principal 1 09/01/22 Cash Receipt Transfer From Income 1 09/01/22 Purchased 705,727.87 Units Of First Am Govt Ob Fd CI Y Trade Date 9/1/22 31846V203 09/01/22 Interest Earned On First Am Govt Ob Fd CI Y Interest From 8/1/22 To 8/31/22 31846V203 09/02/22 Cash Disbursement Transfer To Principal 1 3,846.66 474.56 1,236.25 - 3,485.99 2,902.13 - 2,830.71 $2,093.75 $37,474,058.71 22.27 - 22.27 200,148.13 - 200,044.55 500,000.00 - 504,058.00 3,485.99 - 705,727.87 705,727.87 175 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 25 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/02/22 Cash Receipt 2,830.71 Transfer From Income 1 09/02/22 Sold 498,065.52 Units Of First Am Govt Ob Fd CI Y Trade Date 9/2/22 31846V203 09/06/22 Sold 257,364.54 Units Of First Am Govt Ob Fd CI Y Trade Date 9/6/22 31846V203 09/08/22 Interest Earned On Toronto Mtn 2.350% 3/08/24 0.011619 USD/$1 Pv On 500,000 Par Value Due 9/8/22 89114TZR6 09/08/22 Purchased 5,809.72 Units Of First Am Govt Ob Fd CI Y Trade Date 9/8/22 31846V203 09/08/22 Interest Earned On Goldman Sachs 2.3454% 3/08/24 0.005994 USD/$1 Pv On 455,000 Par Value Due 9/8/22 38141GXW9 09/08/22 Cash Disbursement Transfer To Principal 1 09/08/22 Cash Receipt Transfer From Income 1 09/08/22 Purchased 2,727.18 Units Of First Am Govt Ob Fd CI Y Trade Date 9/8/22 31846V203 09/09/22 Cash Disbursement Transfer To Principal 1 09/09/22 Cash Receipt Transfer From Income 1 09/12/22 Purchased 12,388.38 Units Of First Am Govt Ob Fd CI Y Trade Date 9/12/22 31846V203 09/12/22 Matured 450,000 Par Value Of Mizuho Financial 2.60129% 9/11/22 Trade Date 9/11/22 450,000 Par Value At 100 60687YAN9 5,809.72 2,727.18 - 2,621.78 - 5,809.72 498,065.52 - 498,065.52 257,364.54 - 257,364.54 - 5,809.72 5,809.72 2,621.78 - 2,727.18 2,727.18 5,809.72 - 12,388.38 12,388.38 450,000.00 - 452,286.45 176 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 26 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/12/22 Interest Earned On Mizuho Financial 2.60129% 9/11/22 0.006503 USD/$1 Pv On 450,000 Par Value Due 9/11/22 60687YAN9 09/12/22 Cash Disbursement Transfer To Principal 1 09/12/22 Cash Receipt Transfer From Income 1 09/12/22 Purchased 452,926.45 Units Of First Am Govt Ob Fd CI Y Trade Date 9/12/22 31846V203 09/12/22 Purchased 493,076.88 Par Value Of FNMA #Fm3340 3.500% 5/01/35 Trade Date 8/30/22 Purchased Through Mitsubishi Ufj Securities (USA 493,076.88 Par Value At 99.07812753 3140X6WA5 09/12/22 Paid Accrued Interest On Purchase Of FNMA #Fm3340 3.500% 5/01/35 Income Debit 47.93- USD 3140X6WA5 09/13/22 Cash Disbursement Transfer To Principal 1 09/13/22 Cash Receipt Transfer From Income 1 09/15/22 Interest Earned On Capital One Prime 2.510% 11/15/23 $0.00209/Pv On 6,910.64 Pv Due 9/15/22 14042WAC4 09/15/22 Paid Down 6,910.63 Par Value Of Capital One Prime 2.510% 11/15/23 Princ/Int Due 14042WAC4 09/15/22 Paid Down 236,000 Par Value Of Capital One Multi 2.290% 7/15/25 Cmo Final Paydown 14041 N FQ9 09/15/22 Paid Down 13,859.92 Par Value Of Carmax Auto Owner 3.050% 3/15/24 Cmo Final Paydown 14315NAC4 09/15/22 Paid Down 200,000 Par Value Of Ford Credit 2.480% 9/15/24 Cmo Final Paydown 34528QFU3 2,926.45 - 2,926.45 - 47.93 - 1.22 14.46 2,926.45 - 452,926.45 452,926.45 - 488,531.34 488,531.34 1.22 6,910.63 236,000.00 13,859.92 200,000.00 - 6,933.83 - 236,709.84 - 13,966.04 - 200,523.44 177 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 27 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/15/22 Paid Down 500,000 Par Value Of Ford Credit 3.0907% 9/15/24 Cmo Final Paydown 34528QHB3 09/15/22 Paid Down 2,369.39 Par Value Of World Omni 1.700% 1/15/23 Cmo Final Paydown 98162HAC4 09/15/22 Interest Earned On CNH Equipment Trust 3.010% 4/15/24 $0.00251/Pv On 19,354.79 Pv Due 9/15/22 12596JAC7 09/15/22 Paid Down 13,566.61 Par Value Of CNH Equipment Trust 3.010% 4/15/24 Trade Date 9/15/22 12596JAC7 09/15/22 Interest Earned On Santander Drive 1.120% 12/15/25 $0.00093/Pv On 288,465.12 Pv Due 9/15/22 80285WAF4 09/15/22 Paid Down 38,758.31 Par Value Of Santander Drive 1.120% 12/15/25 Trade Date 9/15/22 80285WAF4 09/15/22 Purchased 1,186,797.1 Units Of First Am Govt Ob Fd CI Y Trade Date 9/15/22 31846V203 09/15/22 Interest Earned On F H L M C Mltcl Mtg 1.500% 5/15/27 $0.00125/Pv On 55,157.06 Pv Due 9/15/22 3137AQQE1 09/15/22 Paid Down 1,712.58 Par Value Of F H L M C Mltcl Mtg 1.500% 5/15/27 Trade Date 9/15/22 3137AQQE1 09/15/22 Interest Earned On F H L M C MItcl Mtg 1.750% 12/15/42 $0.00146/Pv On 98,419.48 Pv Due 9/15/22 3137AYSH5 09/15/22 Paid Down 1,523.89 Par Value Of F H L M C Mltcl Mtg 1.750% 12/15/42 Trade Date 9/15/22 3137AYSH5 09/15/22 Interest Earned On F H L M C Mltcl Mtg 2.000% 11/15/26 $0.00167/Pv On 32,328.60 Pv Due 9/15/22 3137B6DF5 48.55 269.23 68.94 143.53 53.88 500,000.00 - 500,390.62 2,369.39 - 2,389.38 13,566.61 - 13,658.82 38,758.31 - 38,702.29 - 1,186,797.10 1,186,797.10 1,712.58 - 1,737.10 1,523.89 - 1,555.60 178 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 28 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/15/22 Paid Down 2,226.41 Par Value Of FHLMCMItcl Mtg 2.000% 11/15/26 Trade Date 9/15/22 3137B6DF5 09/15/22 Interest Earned On F H L M C MItcl Mtg 2.500% 12/15/27 $0.00208/Pv On 48,231.04 Pv Due 9/15/22 3137B9RN7 09/15/22 Paid Down 3,019.15 Par Value Of F H L M C MItcl Mtg 2.500% 12/15/27 Trade Date 9/15/22 3137B9RN7 09/15/22 Interest Earned On American Express 2.350% 5/15/25 $0.00196/Pv On 500,000.00 Pv Due 9/15/22 02582JHL7 09/15/22 Interest Earned On American Express 2.80137% 10/15/25 $0.00233/Pv On 500,000.00 Pv Due 9/15/22 02582JHS2 09/15/22 Interest Earned On American Express 3.390% 5/17/27 $0.00283/Pv On 350,000.00 Pv Due 9/15/22 02582JJT8 09/15/22 Interest Earned On Capital One Multi 2.290% 7/15/25 $0.00191/Pv On 236,000.00 Pv Due 9/15/22 14041 N FQ9 09/15/22 Interest Earned On Capital One Multi 2.83237% 3/16/26 $0.00236/Pv On 350,000.00 Pv Due 9/15/22 14041NFS5 09/15/22 Interest Earned On Capital One Multi 2.800% 3/15/27 $0.00233/Pv On 150,000.00 Pv Due 9/15/22 14041 N FZ9 09/15/22 Interest Earned On Captial One Prime 1.600% 11/15/24 $0.00133/Pv On 94,369.98 Pv Due 9/15/22 14043MAC5 09/15/22 Paid Down 9,941.71 Par Value Of Captial One Prime 1.600% 11/15/24 Trade Date 9/15/22 14043MAC5 09/15/22 Interest Earned On Carmax Auto Own 0.520% 2/17/26 $0.00043/Pv On 250,000.00 Pv Due 9/15/22 14314QAC8 100.48 979.17 1,167.24 988.75 450.37 826.11 350.00 125.83 108.33 2,226.41 - 2,263.23 3,019.15 - 3,068.93 9,941.71 - 9,901.32 179 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 29 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/15/22 Interest Earned On Carmax Auto Owner 3.050% 3/15/24 $0.00254/Pv On 13,859.92 Pv Due 9/15/22 14315NAC4 09/15/22 Interest Earned On Carmax Auto Owner 2.180% 8/15/24 $0.00182/Pv On 200,291.36 Pv Due 9/15/22 14315PAD7 09/15/22 Paid Down 27,235.29 Par Value Of Carmax Auto Owner 2.180% 8/15/24 Trade Date 9/15/22 14315PAD7 09/15/22 Interest Earned On Carmax Auto Owner 2.680% 3/15/24 $0.00223/Pv On 80,097.95 Pv Due 9/15/22 14316LAC7 09/15/22 Paid Down 25,196.77 Par Value Of Carmax Auto Owner 2.680% 3/15/24 Trade Date 9/15/22 14316LAC7 09/15/22 Interest Earned On Carmax Auto Owner 0.340% 12/15/25 $0.00028/Pv On 365,796.23 Pv Due 9/15/22 14316NAC3 09/15/22 Paid Down 21,314.55 Par Value Of Carmax Auto Owner 0.340% 12/15/25 Trade Date 9/15/22 14316NAC3 09/15/22 Interest Earned On Carmax Auto Owner 2.810% 5/15/25 $0.00234/Pv On 320,000.00 Pv Due 9/15/22 14317HAB7 09/15/22 Interest Earned On Discover Card 2.8427% 4/15/25 $0.00237/Pv On 350,000.00 Pv Due 9/15/22 254683CC7 09/15/22 Interest Earned On Discover Card 2.8117% 8/15/25 $0.00234/Pv On 350,000.00 Pv Due 9/15/22 2546830E3 09/15/22 Interest Earned On Ford Credit 2.480% 9/15/24 $0.00207/Pv On 200,000.00 Pv Due 9/15/22 34528QFU3 09/15/22 Interest Earned On Ford Credit 3.0907% 9/15/24 $0.00258/Pv On 500,000.00 Pv Due 9/15/22 34528QHB3 35.23 363.86 178.89 103.65 749.33 829.12 820.08 413.33 1,287.79 27,235.29 - 27,385.30 25,196.77 - 25,485.15 21,314.55 -20,991.51 180 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 30 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/15/22 Interest Earned On Ford Credit 2.440% 9/15/26 $0.00203/Pv On 277,000.00 Pv Due 9/15/22 34528QH F4 09/15/22 Interest Earned On Ford Credit Auto 1.870% 3/15/24 $0.00156/Pv On 196,432.14 Pv Due 9/15/22 34531 KAD4 09/15/22 Paid Down 41,539.52 Par Value Of Ford Credit Auto 1.870% 3/15/24 Trade Date 9/15/22 34531 KAD4 09/15/22 Interest Earned On Ford Credit Auto Ls 1.000% 11/15/23 $0.00083/Pv On 411,000.00 Pv Due 9/15/22 34531 RAF4 09/15/22 Interest Earned On John Deere Owner 2.210% 12/15/23 $0.00184/Pv On 114,423.82 Pv Due 9/15/22 477870AC3 09/15/22 Paid Down 29,576.85 Par Value Of John Deere Owner 2.210% 12/15/23 Trade Date 9/15/22 477870AC3 09/15/22 Interest Earned On Nissan Auto 2.500% 11/15/23 $0.00208/Pv On 32,023.63 Pv Due 9/15/22 65479HAC1 09/15/22 Paid Down 13,492.76 Par Value Of Nissan Auto 2.500% 11/15/23 Trade Date 9/15/22 65479HAC1 09/15/22 Interest Earned On Synchrony Credit 2.620% 10/15/25 $0.00218/Pv On 60,000.00 Pv Due 9/15/22 87165LBU4 09/15/22 Interest Earned On World Omni 1.700% 1/15/23 $0.00142/Pv On 2,369.39 Pv Due 9/15/22 98162HAC4 09/15/22 Interest Earned On World Omni Auto 2.590% 7/15/24 $0.00216/Pv On 55,799.92 Pv Due 9/15/22 98162VAD1 09/15/22 Paid Down 22,896.63 Par Value Of World Omni Auto 2.590% 7/15/24 Trade Date 9/15/22 98162VAD1 563.23 306.11 342.50 210.73 66.72 131.00 3.36 120.44 41,539.52 - 41,786.16 29,576.85 - 29,761.70 13,492.76 - 13,612.78 22,896.63 - 23,043.31 181 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 31 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/15/22 Paid Down 2,604.85 Par Value Of GNMA #778953 3.000% 3/15/27 For Record Date Of August Due 9/15/22 August GNMA Due 9/15/22 36176XE21 09/15/22 Interest Earned On GNMA #778953 3.000% 3/15/27 August GNMA Due 9/15/22 36176XE21 09/15/22 Paid Down 2,472.67 Par Value Of FHLMC Gd G18561 3.000% 7/01/30 For Record Date Of August Due 9/15/22 August FHLMC Due 9/15/22 3128MMTTO 09/15/22 Interest Earned On F H L M C Gd G18561 3.000% 7/01/30 August FHLMC Due 9/15/22 3128MMTTO 09/15/22 Paid Down 2,996.12 Par Value Of FHLMC Gd G18568 2.500% 9/01/30 For Record Date Of August Due 9/15/22 August FHLMC Due 9/15/22 3128MMT29 09/15/22 Interest Earned On FHLMC Gd G18568 2.500% 9/01/30 August FHLMC Due 9/15/22 3128MMT29 09/15/22 Paid Down 1,458.9 Par Value Of F H L M C Gd G18569 3.000% 9/01/30 For Record Date Of August Due 9/15/22 August FHLMC Due 9/15/22 3128MMT37 09/15/22 Interest Earned On FHLMC Gd G18569 3.000% 9/01/30 August FHLMC Due 9/15/22 3128MMT37 09/15/22 Paid Down 1,265.08 Par Value Of FHLMC GdG18571 2.500% 10/01/30 For Record Date Of August Due 9/15/22 August FHLMC Due 9/15/22 3128MMT52 09/15/22 Interest Earned On F H L M C Gd G18571 2.500% 10/01/30 August FHLMC Due 9/15/22 3128MMT52 09/15/22 Paid Down 1,414.8 Par Value Of FHLMC Gd G18586 2.500% 2/01/31 For Record Date Of August Due 9/15/22 August FHLMC Due 9/15/22 3128MMUL5 184.28 302.29 253.72 162.50 142.21 2,604.85 - 2,683.43 2,472.67 - 2,444.85 2,996.12 - 2,904.36 1,458.90 - 1,438.61 1,265.08 - 1,316.64 1,414.80 - 1,464.30 182 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 32 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/15/22 Interest Earned On FHLMC Gd G18586 2.500% 2/01/31 August FHLMC Due 9/15/22 3128MMUL5 09/15/22 Paid Down 1,532.88 Par Value Of F H L M C Gd J32243 3.000% 7/01/30 For Record Date Of August Due 9/15/22 August FHLMC Due 9/15/22 31307NP40 09/15/22 Interest Earned On FHLMC Gd J32243 3.000% 7/01/30 August FHLMC Due 9/15/22 31307NP40 09/15/22 Cash Disbursement Transfer To Principal 1 09/15/22 Cash Receipt Transfer From Income 1 09/15/22 Purchased 211,043.53 Units Of First Am Govt Ob Fd CI Y Trade Date 9/15/22 31846V203 09/16/22 Interest Earned On Gm Fin Cons Auto 0.210% 8/16/24 $0.00018/Pv On 207,688.00 Pv Due 9/16/22 380140AB9 09/16/22 Paid Down 35,147.55 Par Value Of Gm Fin Cons Auto 0.210% 8/16/24 Trade Date 9/16/22 380140AB9 09/16/22 Sold 564,553.1 Units Of First Am Govt Ob Fd CI Y Trade Date 9/16/22 31846V203 09/16/22 Interest Earned On G N M A Gtd Remic 4.000% 7/16/39 $0.00333/Pv On 45,605.15 Pv Due 9/16/22 38376V2E6 09/16/22 Paid Down 1,442.94 Par Value Of G N M A Gtd Remic 4.000% 7/16/39 Trade Date 9/16/22 38376V2E6 09/16/22 Interest Earned On G N M A Gtd Remic 2.500% 5/16/55 $0.00208/Pv On 108,360.20 Pv Due 9/16/22 38378XP62 139.23 316.90 - 13,379.49 36.35 152.02 225.75 1,532.88 - 1,626.75 13, 379.49 -211,043.53 211,043.53 35,147.55 - 35,062.43 564,553.10 - 564,553.10 1,442.94 - 1,509.22 183 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 33 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/16/22 Paid Down 272.91 Par Value Of G N M A Gtd Remic 2.500% 5/16/55 Trade Date 9/16/22 38378XP62 09/16/22 Purchased 215,000 Par Value Of F H L M C Mltcl Mt 3.284% 6/25/25 Trade Date 9/13/22 Purchased Through Wfslus33 Wells Fargo Charl Nc Swift External Ref#: 00953900003580A 215,000 Par Value At 97.84374884 % 3137BLAC2 09/16/22 Paid Accrued Interest On Purchase Of F H L M C Mltcl Mt 3.284% 6/25/25 Income Debit 294.19- USD 3137BLAC2 09/16/22 Purchased 100,000 Par Value Of F H L M C Mltcl Mtg 3.291% 3/25/27 Trade Date 9/13/22 Purchased Through Brean Capital LLC Swift External Ref#: 00953900003590B 100,000 Par Value At 96.70313 % 3137BXRT1 09/16/22 Paid Accrued Interest On Purchase Of F H L M C Mltcl Mtg 3.291% 3/25/27 Income Debit 137.13- USD 3137BXRT1 09/16/22 Interest Earned On Jpmorgan Chase Co 0.62934% 3/16/24 0.006335 USD/$1 Pv On 455,000 Par Value Due 9/16/22 46647PCA2 09/16/22 Cash Disbursement Transfer To Principal 1 09/16/22 Cash Receipt Transfer From Income 1 09/16/22 Sold 302,522.69 Units Of First Am Govt Ob Fd CI Y Trade Date 9/16/22 31846V203 09/16/22 Purchased 600,000 Par Value Of Virginia Elec Pwr Co C P 9/22/22 Trade Date 9/16/22 Purchased Through Mizuho Securities USA Inc. Swift External Ref#: 00953900003620A 600,000 Par Value At 99.95616667 92780KJN9 09/19/22 Sold 175,000 Units Of First Am Govt Ob Fd CI Y Trade Date 9/19/22 31846V203 - 294.19 - 137.13 2,882.20 - 3,160.89 272.91 - 275.76 - 210,364.06 210,364.06 - 96,703.13 96,703.13 3,160.89 302,522.69 - 302,522.69 - 599,737.00 599,737.00 175,000.00 - 175,000.00 184 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 34 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Posted Description Income Principal Tax Cash Cash Cost 09/19/22 Cash Disbursement Transfer To Principal 1 09/19/22 Cash Receipt Transfer From Income 1 09/20/22 Paid Down 1,800.98 Par Value Of GNMAII #Ma0908 2.500% 4/20/28 P & I Due 09/20/22 36179NAH1 09/20/22 Interest Earned On GNMAII #Ma0908 2.500% 4/20/28 P & I Due 09/20/22 36179NAH 1 09/20/22 Interest Earned On Gm Fin Auto Lease 0.80003% 7/20/23 $0.00067/Pv On 19,120.98 Pv Due 9/20/22 36259PAD8 09/20/22 Paid Down 19,120.98 Par Value Of Gm Fin Auto Lease 0.80003% 7/20/23 Cmo Final Paydown 36259PAD8 09/20/22 Purchased 21,535.32 Units Of First Am Govt Ob Fd CI Y Trade Date 9/20/22 31846V203 09/20/22 Interest Earned On G N M A Gtd Remic 4.000% 10/20/39 $0.00333/Pv On 61,983.62 Pv Due 9/20/22 38376WA62 09/20/22 Paid Down 2,172.51 Par Value Of G N M A Gtd Remic 4.000% 10/20/39 Trade Date 9/20/22 38376WA62 09/20/22 Interest Earned On G N M A Gtd Remic 2.000% 5/20/40 $0.00167/Pv On 37,980.07 Pv Due 9/20/22 38377YTL4 09/20/22 Paid Down 1,130.05 Par Value Of G N M A Gtd Remic 2.000% 5/20/40 Trade Date 9/20/22 38377YTL4 09/20/22 Interest Earned On G N M A Gtd Remic 2.000% 7/20/42 $0.00167/Pv On 92,044.19 Pv Due 9/20/22 38378FRB8 09/20/22 Paid Down 1,135.01 Par Value Of G N M A Gtd Remic 2.000% 7/20/42 Trade Date 9/20/22 38378FRB8 - 36.35 160.46 12.75 206.61 63.30 153.41 36.35 1,800.98 - 1,862.89 19,120.98 - 19,137.41 -21,535.32 21,535.32 2,172.51 - 1,829.44 1,130.05 - 1,094.74 1,135.01 - 1,118.34 185 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 35 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/20/22 Interest Earned On G N M A Gtd Remic 3.000% 11/20/45 $0.00250/Pv On 46,278.01 Pv Due 9/20/22 38381AZ58 09/20/22 Paid Down 2,938.74 Par Value Of G N M A Gtd Remic 3.000% 11/20/45 Trade Date 9/20/22 38381AZ58 09/20/22 Paid Down 4,109.12 Par Value Of GNMAII #Ma0909 3.000% 4/20/28 For Record Date Of August Due 9/20/22 August GNMA Due 9/20/22 36179NAJ7 09/20/22 Interest Earned On GNMAII #Ma0909 3.000% 4/20/28 August GNMA Due 9/20/22 36179NAJ7 09/20/22 Paid Down 2,377.55 Par Value Of GNMAII #Ma1134 3.000% 7/20/28 For Record Date Of August Due 9/20/22 August GNMA Due 9/20/22 36179NHK7 09/20/22 Interest Earned On GNMAII #Ma1134 3.000% 7/20/28 August GNMA Due 9/20/22 36179NHK7 09/20/22 Paid Down 956.5 Par Value Of GNMAII #Ma0602 3.000% 12/20/27 For Record Date Of August Due 9/20/22 August GNMA Due 9/20/22 36179MU32 09/20/22 Interest Earned On GNMAII #Ma0602 3.000% 12/20/27 August GNMA Due 9/20/22 36179MU32 09/20/22 Paid Down 840.2 Par Value Of GNMAII #Ma4691 3.500% 9/20/32 For Record Date Of August Due 9/20/22 August GNMA Due 9/20/22 36179TF83 09/20/22 Interest Earned On GNMAII #Ma4691 3.500% 9/20/32 August GNMA Due 9/20/22 36179TF83 09/20/22 Paid Down 1,430.68 Par Value Of GNMAII #Ma2936 3.500% 7/20/30 For Record Date Of August Due 9/20/22 August GNMA Due 9/20/22 36179RHM4 115.70 304.37 211.23 115.71 126.47 2,938.74 - 2,955.27 4,109.12 - 4,066.74 2,377.55 - 2,442.22 956.50 - 990.18 840.20 - 882.97 1,430.68 - 1,495.91 186 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 36 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/20/22 Interest Earned On GNMAII #Ma2936 3.500% 7/20/30 August GNMA Due 9/20/22 36179RHM4 09/20/22 Purchased 139,436.17 Par Value Of FNMA Gtd Remic 2.000% 11/25/42 Trade Date 9/15/22 Purchased Through Oppenheimer & Co. Inc. Swift External Ref#: 00953900003600A 139,436.17 Par Value At 96.31250339 % 3136ABNZ2 09/20/22 Paid Accrued Interest On Purchase Of FNMA Gtd Remic 2.000% 11/25/42 Income Debit 147.18- USD 3136ABNZ2 09/20/22 Cash Disbursement Transfer To Principal 1 09/20/22 Cash Receipt Transfer From Income 1 09/20/22 Sold 115,923.7 Units Of First Am Govt Ob Fd CI Y Trade Date 9/20/22 31846V203 09/20/22 Purchased 16,065.54 Par Value Of G N M A Gtd Remic 1.500% 8/20/27 Trade Date 9/12/22 Purchased Through Millennium Advisors, LLC 16,065.54 Par Value At 95.34376062 % 38378HAU0 09/20/22 Paid Accrued Interest On Purchase Of G N M A Gtd Remic 1.500% 8/20/27 Income Debit 9.37- USD 38378HAU0 09/21/22 Interest Earned On Honda Auto 1.610% 4/22/24 $0.00134/Pv On 103,049.93 Pv Due 9/21/22 43813RAC1 09/21/22 Paid Down 12,120.89 Par Value Of Honda Auto 1.610% 4/22/24 Trade Date 9/21/22 43813RAC1 09/21/22 Purchased 12,259.15 Units Of First Am Govt Ob Fd CI Y Trade Date 9/21/22 31846V203 09/21/22 Cash Disbursement Transfer To Principal 1 130.79 - 147.18 - 1,280.41 - 9.37 138.26 - 173.48 - 134,294.47 134,294.47 1,280.41 115,923.70 - 115,923.70 - 15,317.49 15,317.49 12,120.89 - 12,083.49 - 12,259.15 12,259.15 187 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 37 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/21/22 Cash Receipt 173.48 Transfer From Income 1 09/22/22 Matured 600,000 Par Value Of Virginia Elec Pwr Co C P 9/22/22 Trade Date 9/22/22 600,000 Par Value At 100 % 92780KJN9 09/22/22 Interest Earned On Virginia Elec Pwr Co C P 9/22/22 600,000 Par Value At 100 % 92780KJN9 09/22/22 Cash Disbursement Transfer To Principal 1 09/22/22 Cash Receipt Transfer From Income 1 09/22/22 Purchased 600,000 Units Of First Am Govt Ob Fd CI Y Trade Date 9/22/22 31846V203 09/23/22 Purchased 170,000 Par Value Of F H L M C Mltcl Mt 3.750% 8/25/25 Trade Date 9/20/22 Purchased Through Toronto Dominion Securities (U Swift External Ref#: 00953900003710A 170,000 Par Value At 98.56640588 % 3137FJXQ7 09/23/22 Paid Accrued Interest On Purchase Of F H L M C Mltcl Mt 3.750% 8/25/25 Income Debit 389.58- USD 3137FJXQ7 09/23/22 Sold 450,000 Par Value Of Hsbc Hldgs Plc 2.00319% 11/22/24 Trade Date 9/22/22 Sold Through Hsbc Securities, Inc. Swift External Ref#: 00953900003760A 450,000 Par Value At 97.9845 % 404280CZ0 09/23/22 Received Accrued Interest On Sale Of Hsbc Hldgs Plc 2.00319% 11/22/24 Income Credit 1,144.49 USD 404280CZ0 09/23/22 Cash Disbursement Transfer To Principal 1 09/23/22 Cash Receipt Transfer From Income 1 263.00 - 401.26 - 389.58 1,144.49 - 754.91 599,737.00 - 599,737.00 401.26 - 600,000.00 600,000.00 - 167,562.89 167,562.89 440,930.25 - 450,224.75 754.91 188 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 38 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/23/22 Purchased 274,122.27 Units Of First Am Govt Ob Fd CI Y Trade Date 9/23/22 31846V203 - 274,122.27 274,122.27 09/26/22 Paid Down 266,171.34 Par Value Of 266,171.34 - 273,477.49 FNMA #An2905 2.550% 10/01/28 P & I Due 09/25/22 3138LFGP7 09/26/22 Interest Earned On FNMA #An2905 2.550% 10/01/28 P & I Due 09/25/22 3138LFGP7 09/26/22 Paid Down 766.61 Par Value Of FNMA #An 1613 2.550% 7/01/26 P & I Due 09/25/22 3138LDYK3 09/26/22 Interest Earned On FNMA #An 1613 2.550% 7/01/26 P & I Due 09/25/22 3138LDYK3 09/26/22 Interest Earned On FNMA #B11359 3.460% 1/01/26 Int Due 9/25/22 3140HSQM6 09/26/22 Interest Earned On FNMA Gtd Remic 3.021% 8/25/24 Penalty Payment 3136ALYF2 09/26/22 Interest Earned On FNMA Gtd Remic 3.103% 7/25/24 Penalty Payment 3136AKXVO 09/26/22 Interest Earned On FNMA Gtd Remic 2.702% 2/25/26 Penalty Payment 3136ARTE8 09/26/22 Interest Earned On F H L M C Mltcl Mt 2.905% 4/25/24 $0.00262/Pv On 391,874.52 Pv Due 9/25/22 3137BYPQ7 09/26/22 Paid Down 14,693.36 Par Value Of F H L M C Mltcl Mt 2.905% 4/25/24 Trade Date 9/25/22 3137BYPQ7 09/26/22 Interest Earned On F H L M C Mltcl Mt 3.320% 2/25/23 $0.00277/Pv On 214,163.81 Pv Due 9/25/22 3137B36J2 584.47 820.42 1,042.80 1.32 0.29 8.41 1,027.09 592.52 766.61 - 748.70 14,693.36 - 14,666.38 189 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 39 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Paid Down 4,673.32 Par Value Of F H L M C Mltcl Mt 3.320% 2/25/23 Trade Date 9/25/22 3137B36J2 09/26/22 Paid Down 222,235.84 Par Value Of F H L M C Mltcl Mtg 2.682% 10/25/22 Cmo Final Paydown 3137AYCE9 09/26/22 Interest Earned On F H L M C Mltcl Mt 2.573% 9/25/22 $0.00214/Pv On 38,286.60 Pv Due 9/25/22 3137AXHP1 09/26/22 Interest Earned On F H L M C MItcl Mtg 2.637% 1/25/23 $0.00220/Pv On 160,108.17 Pv Due 9/25/22 3137B1UG5 09/26/22 Paid Down 16,894.06 Par Value Of F H L M C Mltcl Mtg 2.637% 1/25/23 Trade Date 9/25/22 3137B1UG5 09/26/22 Interest Earned On F H L M C Mltcl Mtg 3.329% 5/25/25 $0.00277/Pv On 35,000.00 Pv Due 9/25/22 3137BKRJ1 09/26/22 Interest Earned On F H L M C Mltcl Mtg 2.802% 1/25/25 $0.00234/Pv On 120,427.12 Pv Due 9/25/22 3137BLW87 09/26/22 Paid Down 3,525.84 Par Value Of FHLMCMItcl Mtg 2.802% 1/25/25 Trade Date 9/25/22 3137BLW87 09/26/22 Interest Earned On F H L M C Mltcl Mtg 2.887% 4/25/25 $0.00241/Pv On 120,440.87 Pv Due 9/25/22 3137BM7B6 09/26/22 Paid Down 10,737.91 Par Value Of F H L M C Mltcl Mtg 2.887% 4/25/25 Trade Date 9/25/22 3137BM7B6 09/26/22 Interest Earned On F H L M C Mltcl Mt 3.30804% 9/25/25 $0.00276/Pv On 375,000.00 Pv Due 9/25/22 3137BM7C4 09/26/22 Interest Earned On F H L M C Mltcl Mt 3.15096% 11/25/25 $0.00263/Pv On 300,000.00 Pv Due 9/25/22 3137BMTX4 82.09 351.84 97.10 281.20 289.76 1,033.75 787.75 4,673.32 - 4,707.27 222,235.84 - 222,669.89 16,894.06 - 17,053.76 3,525.84 - 3,513.72 10,737.91 - 10,637.66 190 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 40 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Interest Earned On F H L M C Mltcl Mtg 2.406% 3/25/23 $0.00201/Pv On 130,378.67 Pv Due 9/25/22 3137BQBZ9 09/26/22 Paid Down 13,218.21 Par Value Of F H L M C Mltcl Mtg 2.406% 3/25/23 Trade Date 9/25/22 3137BQBZ9 09/26/22 Interest Earned On F H L M C Mltcl Mtg 3.413% 12/25/26 $0.00284/Pv On 500,000.00 Pv Due 9/25/22 3137BUX60 09/26/22 Interest Earned On F H L M C MItcl Mtg 0.7404% 1/25/26 $0.00243/Pv On 375,000.00 Pv Due 9/25/22 3137F4CZ3 09/26/22 Interest Earned On F H L M C Mltcl Mtg 3.600% 2/25/25 $0.00300/Pv On 347,812.73 Pv Due 9/25/22 3137F4WZ1 09/26/22 Paid Down 472.43 Par Value Of F H L M C Mltcl Mtg 3.600% 2/25/25 Trade Date 9/25/22 3137F4WZ1 09/26/22 Interest Earned On F H L M C Mltcl Mt 2.77704% 8/25/27 $0.00253/Pv On 119,215.20 Pv Due 9/25/22 3137FBAB2 09/26/22 Paid Down 1,758.12 Par Value Of F H L M C Mltcl Mt 2.77704% 8/25/27 Trade Date 9/25/22 3137FBAB2 09/26/22 Interest Earned On F H L M C Mltcl Mt 3.281% 8/25/27 $0.00273/Pv On 200,000.00 Pv Due 9/25/22 3137FBAJ5 09/26/22 Interest Earned On F H L M C MItcl Mt 3.444% 12/25/27 $0.00287/Pv On 158,000.00 Pv Due 9/25/22 3137FEBQ2 09/26/22 Interest Earned On F H L M C Mltcl Mt 0.40248% 1/25/28 $0.00279/Pv On 750,000.00 Pv Due 9/25/22 3137FETNO 09/26/22 Interest Earned On F H L M C Mltcl Mt 3.94404% 12/25/29 $0.00329/Pv On 382,582.78 Pv Due 9/25/22 3137FKKM7 261.41 1,422.08 912.50 1,043.44 301.81 546.83 453.46 2,093.75 1,259.34 13,218.21 - 13,321.48 472.43 - 475.66 1,758.12 - 1,910.30 191 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 41 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Paid Down 1,110.72 Par Value Of F H L M C Mltcl Mt 3.94404% 12/25/29 Trade Date 9/25/22 3137FKKM7 09/26/22 Interest Earned On F H L M C MItcl Mt 0.62136% 1/25/29 $0.00297/Pv On 350,000.00 Pv Due 9/25/22 3137FL6P4 09/26/22 Interest Earned On F H L M C Mltcl Mt 2.87496% 11/25/28 $0.00219/Pv On 127,896.86 Pv Due 9/25/22 3137FNAD2 09/26/22 Paid Down 418.59 Par Value Of F H L M C Mltcl Mt 2.87496% 11/25/28 Trade Date 9/25/22 3137FNAD2 09/26/22 Interest Earned On F H L M C Mltcl Mt 2.258% 6/25/29 $0.00188/Pv On 173,509.65 Pv Due 9/25/22 3137FPJF3 09/26/22 Paid Down 539.54 Par Value Of F H L M C Mltcl Mt 2.258% 6/25/29 Trade Date 9/25/22 3137FPJF3 09/26/22 Interest Earned On F H L M C Mltcl Mt 2.51196% 7/25/29 $0.00183/Pv On 173,809.95 Pv Due 9/25/22 3137FQ3Y7 09/26/22 Paid Down 449.14 Par Value Of F H L M C Mltcl Mt 2.51196% 7/25/29 Trade Date 9/25/22 3137FQ3Y7 09/26/22 Interest Earned On F H L M C Mltcl Mt 3.250% 4/25/23 $0.00271/Pv On 95,908.85 Pv Due 9/25/22 3137B3NA2 09/26/22 Paid Down 2,597.47 Par Value Of F H L M C Mltcl Mt 3.250% 4/25/23 Trade Date 9/25/22 3137B3NA2 09/26/22 Purchased 322,989.99 Units Of First Am Govt Ob Fd CI Y Trade Date 9/26/22 31846V203 09/26/22 Interest Earned On FNMA Gtd Remic 1.250% 4/25/28 $0.00104/Pv On 63,516.53 Pv Due 9/25/22 3136ADZA0 1,039.21 280.41 326.49 317.20 259.75 66.16 1,110.72 - 1,128.47 418.59 - 425.61 539.54 - 542.79 449.14 - 450.29 2,597.47 - 2,610.86 - 322,989.99 322,989.99 192 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 42 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Paid Down 1,394.68 Par Value Of FNMA Gtd Remic 1.250% 4/25/28 Trade Date 9/25/22 3136ADZA0 09/26/22 Interest Earned On FNMA Gtd Remic 3.103% 7/25/24 $0.00259/Pv On 63,950.19 Pv Due 9/25/22 3136AKXVO 09/26/22 Paid Down 1,734.07 Par Value Of FNMA Gtd Remic 3.103% 7/25/24 Trade Date 9/25/22 3136AKXVO 09/26/22 Interest Earned On FNMA Gtd Remic 3.021% 8/25/24 $0.00252/Pv On 76,727.14 Pv Due 9/25/22 3136ALYF2 09/26/22 Paid Down 4,425.84 Par Value Of FNMA Gtd Remic 3.021% 8/25/24 Trade Date 9/25/22 3136ALYF2 09/26/22 Interest Earned On FNMA Gtd Remic 2.000% 11/25/31 $0.00167/Pv On 47,382.98 Pv Due 9/25/22 3136AQZK9 09/26/22 Paid Down 1,621.59 Par Value Of FNMA Gtd Remic 2.000% 11/25/31 Trade Date 9/25/22 3136AQZK9 09/26/22 Interest Earned On FNMA Gtd Remic 2.702% 2/25/26 $0.00225/Pv On 468,863.88 Pv Due 9/25/22 3136ARTE8 09/26/22 Paid Down 19,612.28 Par Value Of FNMA Gtd Remic 2.702% 2/25/26 Trade Date 9/25/22 3136ARTE8 09/26/22 Interest Earned On FNMA Gtd Remic 2.639% 12/25/26 $0.00220/Pv On 398,585.59 Pv Due 9/25/22 3136AVY52 09/26/22 Paid Down 429.94 Par Value Of FNMA Gtd Remic 2.639% 12/25/26 Trade Date 9/25/22 3136AVY52 09/26/22 Interest Earned On F H L M C Mltcl 0.826% 9/25/30 $0.00069/Pv On 177,519.43 Pv Due 9/25/22 3137FWHY9 165.36 193.16 78.97 1,055.73 876.84 122.25 1,394.68 - 1,408.33 1,734.07 - 1,726.48 4,425.84 - 4,412.87 1,621.59 - 1,665.52 19,612.28 - 19,247.61 429.94 - 413.23 193 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 43 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Paid Down 1,035.48 Par Value Of F H L M C Mltcl 0.826% 9/25/30 Trade Date 9/25/22 3137FWHY9 09/26/22 Interest Earned On FNMA Gtd Remic 4.000% 7/25/40 $0.00333/Pv On 79,579.97 Pv Due 9/25/22 31398NY24 09/26/22 Paid Down 2,696.19 Par Value Of FNMA Gtd Remic 4.000% 7/25/40 Trade Date 9/25/22 31398NY24 09/26/22 Paid Down 1,768.3 Par Value Of FHLMC #Zs8585 3.000% 10/01/30 For Record Date Of August Due 9/25/22 August FHLMC Due 9/25/22 3132A9RE9 09/26/22 Interest Earned On FHLMC #Zs8585 3.000% 10/01/30 August FHLMC Due 9/25/22 3132A9RE9 09/26/22 Paid Down 1,618.99 Par Value Of FHLMC #Zs8673 3.000% 10/01/32 For Record Date Of August Due 9/25/22 August FHLMC Due 9/25/22 3132A9T64 09/26/22 Interest Earned On FHLMC #Zs8673 3.000% 10/01/32 August FHLMC Due 9/25/22 3132A9T64 09/26/22 Paid Down 1,718.54 Par Value Of FHLMC #Zs8665 3.000% 7/01/32 For Record Date Of August Due 9/25/22 August FHLMC Due 9/25/22 3132A9TW7 09/26/22 Interest Earned On FHLMC #Zs8665 3.000% 7/01/32 August FHLMC Due 9/25/22 3132A9TW7 09/26/22 Paid Down 1,206.83 Par Value Of FHLMC #Zs8063 2.500% 9/01/32 For Record Date Of August Due 9/25/22 August FHLMC Due 9/25/22 3132A85Y1 09/26/22 Interest Earned On FHLMC #Zs8063 2.500% 9/01/32 August FHLMC Due 9/25/22 3132A85Y1 265.27 234.25 198.87 223.82 127.65 1,035.48 - 1,030.30 2,696.19 - 2,709.25 1,768.30 - 1,743.43 1,618.99 - 1,687.09 1,718.54 - 1,688.20 1,206.83 - 1,167.99 194 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 44 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Paid Down 2,092.81 Par Value Of FHLMC #Zt1989 3.500% 1/01/33 For Record Date Of August Due 9/25/22 August FHLMC Due 9/25/22 3132AEF68 09/26/22 Interest Earned On FHLMC #Zt1989 3.500% 1/01/33 August FHLMC Due 9/25/22 3132AEF68 09/26/22 Paid Down 2,111.32 Par Value Of FHLMC #Sb8026 2.500% 12/01/34 For Record Date Of August Due 9/25/22 August FHLMC Due 9/25/22 3132D54K5 09/26/22 Interest Earned On FHLMC #Sb8026 2.500% 12/01/34 August FHLMC Due 9/25/22 3132D54K5 09/26/22 Paid Down 628.05 Par Value Of FHLMC #Sb8057 2.000% 8/01/35 For Record Date Of August Due 9/25/22 August FHLMC Due 9/25/22 3132D55S7 09/26/22 Interest Earned On FHLMC #Sb8057 2.000% 8/01/35 August FHLMC Due 9/25/22 3132D55S7 09/26/22 Paid Down 1,200.72 Par Value Of FHLMC #Sc0096 3.000% 10/01/40 For Record Date Of August Due 9/25/22 August FHLMC Due 9/25/22 3132D9C93 09/26/22 Interest Earned On FHLMC #Sc0096 3.000% 10/01/40 August FHLMC Due 9/25/22 3132D9C93 09/26/22 Paid Down 2,289.8 Par Value Of FHLMC #Sb8505 2.500% 10/01/35 For Record Date Of August Due 9/25/22 August FHLMC Due 9/25/22 3132D6NW6 09/26/22 Interest Earned On FHLMC #Sb8505 2.500% 10/01/35 August FHLMC Due 9/25/22 3132D6NW6 09/26/22 Paid Down 910.34 Par Value Of FHLMC #Sb8015 2.500% 11/01/34 For Record Date Of August Due 9/25/22 August FHLMC Due 9/25/22 3132D53Y6 287.23 304.73 93.60 328.17 337.20 2,092.81 - 2,248.75 2,111.32 - 2,008.72 628.05 - 582.52 1,200.72 - 1,273.20 2,289.80 - 2,202.86 910.34 - 866.10 195 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 45 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Interest Earned On F H L M C #Sb8015 2.500% 11/01/34 August FHLMC Due 9/25/22 3132D53Y6 09/26/22 Paid Down 75,760.51 Par Value Of FNMA #AI3168 2.391% 2/01/23 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 3138EKQW8 09/26/22 Interest Earned On FNMA #AI3168 2.391% 2/01/23 August FNMA Due 9/25/22 3138EKQW8 09/26/22 Paid Down 21,201.29 Par Value Of FNMA #AI3251 2.379% 2/01/23 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 3138EKTH8 09/26/22 Interest Earned On FNMA #AI3251 2.379% 2/01/23 August FNMA Due 9/25/22 3138EKTH8 09/26/22 Paid Down 152.14 Par Value Of FNMA #811077 4.000% 12/01/28 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 3140HSFT3 09/26/22 Interest Earned On FNMA #BI1077 4.000% 12/01/28 August FNMA Due 9/25/22 3140HSFT3 09/26/22 Paid Down 166.35 Par Value Of FNMA #An0992 3.120% 2/01/26 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 3138LDC68 09/26/22 Interest Earned On FNMA #An0992 3.120% 2/01/26 August FNMA Due 9/25/22 3138LDC68 09/26/22 Paid Down 19,601.21 Par Value Of FNMA #Bm1757 2.413% 4/01/23 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 3140J55T2 09/26/22 Interest Earned On FNMA #Bm1757 2.413% 4/01/23 August FNMA Due 9/25/22 3140J55T2 109.75 194.25 316.23 408.32 237.31 149.23 75,760.51 - 75,725.00 21,201.29 - 21,191.35 152.14 - 157.86 166.35 - 165.00 19,601.21 - 19,595.09 196 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 46 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Paid Down 199.98 Par Value Of FNMA #An1746 2.150% 9/01/23 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 3138LD5G4 09/26/22 Interest Earned On FNMA #An1746 2.150% 9/01/23 August FNMA Due 9/25/22 3138LD5G4 209.48 199.98 - 197.98 09/26/22 Paid Down 1,441.04 Par Value Of 1,441.04 - 752.45 FNMA #Ma0293 4.500% 1/01/30 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 31417YKF3 09/26/22 Interest Earned On FNMA #Ma0293 4.500% 1/01/30 August FNMA Due 9/25/22 31417YKF3 09/26/22 Paid Down 828.41 Par Value Of FNMA #Ma2803 2.500% 11/01/31 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 31418CDH4 09/26/22 Interest Earned On FNMA #Ma2803 2.500% 11/01/31 August FNMA Due 9/25/22 31418CDH4 09/26/22 Paid Down 1,788.04 Par Value Of FNMA #Fm1155 2.500% 6/01/32 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 3140X4H90 09/26/22 Interest Earned On FNMA #Fm 1155 2.500% 6/01/32 August FNMA Due 9/25/22 3140X4H90 09/26/22 Paid Down 1,752.16 Par Value Of FNMA #Ma4074 2.000% 6/01/35 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 31418DQ47 09/26/22 Interest Earned On FNMA #Ma4074 2.000% 6/01/35 August FNMA Due 9/25/22 31418DQ47 09/26/22 Paid Down 1,129.99 Par Value Of FNMA #Fm3935 2.500% 11/01/34 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 3140X7LR8 214.45 90.27 199.43 233.60 828.41 - 800.97 1,788.04 - 1,873.95 1,752.16 - 1,807.72 1,129.99 - 1,095.38 197 NA' embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 47 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Interest Earned On FNMA #Fm3935 2.500% 11/01/34 August FNMA Due 9/25/22 3140X7LR8 09/26/22 Paid Down 2,936.72 Par Value Of FNMA #Ma4112 3.000% 8/01/35 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 31418DSA1 09/26/22 Interest Earned On FNMA #Ma4112 3.000% 8/01/35 August FNMA Due 9/25/22 31418DSA1 09/26/22 Paid Down 1,825.88 Par Value Of FNMA #Fm3936 2.500% 8/01/35 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 3140X7LS6 09/26/22 Interest Earned On FNMA #Fm3936 2.500% 8/01/35 August FNMA Due 9/25/22 3140X7LS6 09/26/22 Paid Down 1,514.43 Par Value Of FNMA #Bm1978 3.000% 10/01/32 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 3140J6FU6 09/26/22 Interest Earned On FNMA #Bm1978 3.000% 10/01/32 August FNMA Due 9/25/22 3140J6FU6 09/26/22 Paid Down 1,760.68 Par Value Of FNMA #Ma4226 2.000% 12/01/30 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 31418DVU3 09/26/22 Interest Earned On FNMA #Ma4226 2.000% 12/01/30 August FNMA Due 9/25/22 31418DVU3 09/26/22 Paid Down 1,444.43 Par Value Of FNMA #Ma4279 2.000% 3/01/36 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 31418DXH0 09/26/22 Interest Earned On FNMA #Ma4279 2.000% 3/01/36 August FNMA Due 9/25/22 31418DXH0 105.03 434.16 176.04 158.08 194.32 229.09 2,936.72 - 2,882.57 1,825.88 - 1,910.97 1,514.43 - 1,597.97 1,760.68 - 1,827.62 1,444.43 - 1,492.56 198 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 48 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Paid Down 1,786.06 Par Value Of FNMA #Fm3340 3.500% 5/01/35 For Record Date Of August Due 9/25/22 August FHLMC Due 9/25/22 3140X6WA5 09/26/22 Interest Earned On FNMA #Fm3340 3.500% 5/01/35 August FHLMC Due 9/25/22 3140X6WA5 09/26/22 Paid Down 3,937.11 Par Value Of FNMA #Ma4497 2.000% 11/01/36 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 31418D7K2 09/26/22 Interest Earned On FNMA #Ma4497 2.000% 11/01/36 August FNMA Due 9/25/22 31418D7K2 09/26/22 Paid Down 1,283.65 Par Value Of FNMA #Ma4603 2.500% 4/01/37 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 31418EDH0 09/26/22 Interest Earned On FNMA #Ma4603 2.500% 4/01/37 August FNMA Due 9/25/22 31418EDH0 09/26/22 Purchased 41,864.53 Par Value Of FNMA Gtd Remic 2.000% 10/25/40 Trade Date 9/21/22 Purchased Through Stonex Financial Inc./Bd Rates Swift External Ref#: 00953900003730A 41,864.53 Par Value At 94.09376133 % 3136A8V64 09/26/22 Paid Accrued Interest On Purchase Of FNMA Gtd Remic 2.000% 10/25/40 Income Debit 58.15- USD 3136A8V64 09/26/22 Purchased 22,950.78 Par Value Of G N M A Gtd Remic 1.500% 8/20/27 Trade Date 9/21/22 Purchased Through Millennium Advisors, LLC Swift External Ref#: 00953900003720D 22,950.78 Par Value At 94.65622885 % 38378HAU0 09/26/22 Paid Accrued Interest On Purchase Of G N M A Gtd Remic 1.500% 8/20/27 Income Debit 23.91- USD 38378HAU0 210.66 691.43 351.05 - 58.15 - 23.91 1,786.06 - 1,781.59 3,937.11 - 3,681.20 1,283.65 - 1,220.67 -39,391.91 39,391.91 - 21, 724.34 21, 724.34 199 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 49 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Purchased 94,872.58 Par Value Of FNMA #B15365 Trade Date 9/21/22 Purchased Through Brean Capital LLC Swift External Ref#: 00953900003740A 94,872.58 Par Value At 91.78124921 % 3140HW6B3 09/26/22 Paid Accrued Interest On Purchase Of FNMA #B15365 Income Debit 139.01- USD 3140HW6B3 09/26/22 Cash Disbursement Transfer To Principal 1 09/26/22 Cash Receipt Transfer From Income 1 09/26/22 Purchased 50,464.73 Units Of First Am Govt Ob Fd CI Y Trade Date 9/26/22 31846V203 09/26/22 Purchased 266,812.14 Par Value Of F H L M C Mltcl Mt 2.82996% 5/25/30 Trade Date 8/31/22 Purchased Through Stonex Financial Inc./Bd Rates 266,812.14 Par Value At 95.93750119 % Revs/Repost Ctas Adjust 9/26/22 3137BPVM8 09/26/22 Paid Accrued Interest On Purchase Of F H L M C Mltcl Mt 2.82996% 5/25/30 Income Debit 104.87- USD 3137BPVM8 09/27/22 Interest Earned On F H L M C Mltcl Mt 3.430% 2/25/50 3137BVZ82 09/27/22 Interest Earned On F H L M C Mltcl Mtg 2.682% 10/25/22 0.002235 USD/$1 Pv On 222,235.84 Par Value Due 9/25/22 3137AYCE9 09/27/22 Purchased 295,432.74 Units Of First Am Govt Ob Fd CI Y Trade Date 9/27/22 31846V203 09/27/22 Purchased 100,000 Par Value Of FNMA #109412 3.680% 8/01/28 Trade Date 9/22/22 Purchased Through Brean Capital LLC Swift External Ref#: 00953900003770A 100,000 Par Value At 96.34375 % 313637N55 - 139.01 - 9,650.37 - 104.87 571.67 496.70 - 87,075.24 87,075.24 9,650.37 - 50,464.73 50,464.73 - 255,972.90 255,972.90 - 295,432.74 295,432.74 - 96,343.75 96,343.75 200 embank 00- -M -PF-PC -274-01 00260201 2602 0455205-00-01445-01 Page 50 of 68 ACCOUNT NUMBER: 226122002 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SENIOR LIEN REF BDS 2021 SERIES A (TAX)AND 2021 SERIES B SENIOR BDS RESERVE ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/27/22 Paid Accrued Interest On Purchase Of FNMA #109412 3.680% 8/01/28 Income Debit 265.78- USD 313637N55 09/27/22 Cash Disbursement Transfer To Principal 1 09/27/22 Cash Receipt Transfer From Income 1 09/27/22 Sold 96,609.53 Units Of First Am Govt Ob Fd CI Y Trade Date 9/27/22 31846V203 09/27/22 Matured 38,286.6 Par Value Of F H L M C Mltcl Mt 2.573% 9/25/22 Trade Date 9/25/22 38,286.6 Par Value At 100 % 3137AXHP1 09/28/22 Cash Disbursement Transfer To Principal 1 09/28/22 Cash Receipt Transfer From Income 1 09/30/22 Sold 1,024,000.63 Units Of First Am Govt Ob Fd CI Y Trade Date 9/30/22 31846V203 09/30/22 Purchased 1,025,000 Par Value Of FHLB Disc Nts 10/13/22 Trade Date 9/30/22 Purchased Through Bny Capital Markets, Inc. Swift External Ref#: 00953900003820A 1,025,000 Par Value At 99.90250049 % 313385K47 - 265.78 - 17,148.37 - 1,173.24 17,148.37 96,609.53 - 96,609.53 38,286.60 - 38,322.49 1,173.24 1,024,000.63 - 1,024,000.63 - 1,024,000.63 1,024,000.63 Ending Balance 09/30/2022 $0.00 $0.00 $37,515,834.09 201 embank 00- -M -PF-PC -274-01 00260201 2602 0455256-00-01445-01 Page 3 of 51 ACCOUNT NUMBER: 238302001 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SECOND LIEN REF BONDS 2021 C SERIES C SEC LIEN BDS RESERVE ACCT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc Cash Equivalents 18,117.890 First American Government Oblig Fd CI Y #3763 31846V203 18,117.89 18,117.89 1.0000 0.3 446.25 1.00 2.46 Total Cash Equivalents $18,117.89 $18,117.89 0.3 $446.25 US Government Issues 28,642.830 500,000.000 46,553.440 10,216.090 5,641.000 11,124.180 FHLMC Multiclass Mtg Partn C M 0 Ser K027 CI A2 2.637 01/25/2023 3137B1UG5 Standard & Poors Rating: N/A Moodys Rating: N/A U S Treasury Note 0.125 01/31/2023 91282CBG5 Standard & Poors Rating: N/A Moodys Rating: Aaa FHLMC Multiclass Mtg Partn C M 0 Ser K029 CI A2 3.320 02/25/2023 3137B36J2 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cert Pool#Bm1757 2.493 04/01/2023 3140J55T2 Standard & Poors Rating: N/A Moodys Rating: N/A FNMAGtdREMICPassThru C M 0 Ser 2013 36 CI KC 1.500 04/25/2023 3136ADFF1 Standard & Poors Rating: N/A Moodys Rating: N/A FNMAGtdREMICPassThru C M 0 Ser 2013 M14 CI Apt 04/25/2023 Var 3136AHAEO Standard & Poors Rating: N/A Moodys Rating: N/A 28,547.74 99.6680 494,210.00 98.8420 46,383.99 99.6360 28,913.60 0.4 755.31 100.95 2.65 493,828.13 98.77 6.8 625.00 .13 46,891.67 0.6 1,545.57 100.73 3.33 10,190.14 10,212.90 0.1 246.51 99.7460 99.97 2.42 5,603.49 5,559.91 99.3350 11,046.53 99.3020 0.1 84.62 98.56 1.51 11,166.38 100.38 2.70 0.2 298.68 202 embank 00- -M -PF-PC -274-01 00260201 2602 0455256-00-01445-01 Page 4 of 51 ACCOUNT NUMBER: 238302001 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SECOND LIEN REF BONDS 2021 C SERIES C SEC LIEN BDS RESERVE ACCT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 350,000.000 155,000.000 189,310.230 40,000.000 17,984.820 29,923.630 85,000.000 50,000.000 U S Treasury Note 10/31/2023 Var 91282CDE8 Standard & Poors Rating: N/A Moodys Rating: Aaa U S Treasury Note 0.250 06/15/2024 91282CCG4 Standard & Poors Rating: N/A Moodys Rating: Aaa FHLMC Multiclass Mtg Partn C M 0 Ser Kbx1 CI Al 2.920 09/25/2024 3137F4CY6 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMCMTN 4.000 12/30/2024 3134GXA61 Standard & Poors Rating: AA+ Moodys Rating: Aaa FHLMC Multiclass Mtg Partn C M 0 Ser K050 CI Al 2.802 01/25/2025 3137BLW87 Standard & Poors Rating: N/A Moodys Rating: N/A G N M A Pass Thru Cert Pool #711168 4.500 02/15/2025 36297GCD0 Standard & Poors Rating: N/A Moodys Rating: N/A Federal Home Loan Bks 2.200 02/28/2025 3130AR2C4 Standard & Poors Rating: AA+ Moodys Rating: Aaa U S Treasury Note 2.125 05/15/2025 912828X81 Standard & Poors Rating: N/A Moodys Rating: Aaa 350,353.50 100.1010 144,773.10 93.4020 183,723.69 97.0490 39,441.60 98.6040 17,572.07 97.7050 29,627.09 99.0090 80,419.35 94.6110 47,361.50 94.7230 350,739.66 100.21 147,358.99 95.07 194,315.63 102.64 4.8 1,137.50 .32 2.0 387.50 .27 2.5 1,001.38 .54 40,000.00 0.6 1,600.00 100.00 4.06 17,923.00 99.66 2.87 0.2 503.93 30,345.97 0.4 1,346.56 101.41 4.54 85,000.00 1.1 1,870.00 100.00 2.32 51,148.44 0.7 1,062.50 102.30 2.24 203 embank 00- -M -PF-PC -274-01 00260201 2602 0455256-00-01445-01 Page 5 of 51 ACCOUNT NUMBER: 238302001 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SECOND LIEN REF BONDS 2021 C SERIES C SEC LIEN BDS RESERVE ACCT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 15,000.000 150,000.000 200,000.000 74,571.510 17,397.610 37,627.730 39,818.330 77,328.230 FHLMC Multiclass Mtg Partn C M 0 Ser K047 CI A2 3.329 05/25/2025 3137BKRJ1 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser K048 CI A2 06/25/2025 Var 3137BLAC2 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser Kir1 CI A2 2.849 03/25/2026 3137BP4K2 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cert Pool#An1613 2.550 07/01/2026 3138LDYK3 Standard & Poors Rating: N/A Moodys Rating: N/A GNMAGtdREMICPassThru CMOSer2011158CICa 3.000 10/20/2026 38378AU90 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser 4272 CI Yg 2.000 11/15/2026 3137B6DF5 Standard & Poors Rating: N/A Moodys Rating: N/A G N M A II Pass Thru Cert Pool #005300 3.000 02/20/2027 36202F3H7 Standard & Poors Rating: N/A Moodys Rating: N/A G N MA Pass Thru Cert Pool #778953 3.000 03/15/2027 36176XE21 Standard & Poors Rating: N/A Moodys Rating: N/A 14,517.60 96.7840 144,960.00 96.6400 188,352.00 94.1760 69,575.22 93.3000 17,311.84 99.5070 36,895.12 98.0530 14,944.34 99.63 3.44 158,296.50 105.53 208,911.36 104.46 0.2 499.35 2.0 4,926.00 3.40 2.6 5,698.00 3.02 72,229.51 1.0 1,901.57 96.86 2.73 17,671.99 101.58 3.01 37,236.77 98.96 2.04 0.2 521.93 0.5 752.55 38,706.60 41,192.95 0.5 1,194.55 97.2080 103.45 3.09 75,218.72 97.2720 79,660.92 1.0 2,319.85 103.02 3.08 204 embank 00- -M -PF-PC -274-01 00260201 2602 0455256-00-01445-01 Page 6 of 51 ACCOUNT NUMBER: 238302001 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SECOND LIEN REF BONDS 2021 C SERIES C SEC LIEN BDS RESERVE ACCT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 25,000.000 61,883.100 26,898.380 38,633.800 200,000.000 127,245.170 27,638.630 53,152.960 FHLMC Multiclass Mtg Partn CMOSer S8FxCIA2 3.291 03/25/2027 3137BXRT1 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser 4039 CI Qb 1.500 05/15/2027 3137AQQE1 Standard & Poors Rating: N/A Moodys Rating: N/A GNMA Partn Cert Pool #779250 3.000 05/15/2027 36176XQB8 Standard & Poors Rating: N/A Moodys Rating: N/A GNMAGtdREMICPassThru C M 0 Ser 2012 96 CI Ad 1.500 08/20/2027 38378HAU0 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser Kir3 CI A2 3.281 08/25/2027 3137FBAJ5 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser Kir3 CI Al 3.038 08/25/2027 3137FBAB2 Standard & Poors Rating: N/A Moodys Rating: N/A FNMAGtdREMICPassThru C M 0 Ser 2012 102 CI Bj 1.500 09/15/2027 3136A8SX9 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser 4328 CI Ea 2.500 12/15/2027 3137B9RN7 Standard & Poors Rating: N/A Moodys Rating: N/A 23,682.50 24,175.78 0.3 822.75 94.7300 96.70 3.47 58,845.26 95.0910 26,133.12 97.1550 36,372.95 94.1480 188,700.00 94.3500 122,856.48 96.5510 25,999.66 94.0700 52,317.40 98.4280 62,768.65 101.43 1.58 27,878.33 103.64 3.09 0.8 928.25 39,153.61 101.35 1.59 0.4 806.95 210,479.94 105.24 138,259.55 108.66 28,052.76 101.50 1.59 0.5 579.51 2.6 6,562.00 3.48 1.7 3,533.65 2.88 0.4 414.58 54,032.45 0.7 1,328.82 101.65 2.54 205 embank 00- -M -PF-PC -274-01 00260201 2602 0455256-00-01445-01 Page 7 of 51 ACCOUNT NUMBER: 238302001 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SECOND LIEN REF BONDS 2021 C SERIES C SEC LIEN BDS RESERVE ACCT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 49,102.780 25,000.000 19,206.520 GNMAIIPass Thru Cert Pool #Ma0602 3.000 12/20/2027 36179MU32 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser K072 CI A2 3.444 12/25/2027 3137FEBQ2 Standard & Poors Rating: N/A Moodys Rating: N/A G N M A II Pass Thru Cert Pool #Ma0909 3.000 04/20/2028 36179NAJ7 Standard & Poors Rating: N/A Moodys Rating: N/A 54,742.720 GNMAII Partn Cert Pool #Ma1134 3.000 07/20/2028 36179NHK7 31,985.010 15,000.000 5,373.390 141,642.520 FNMAGtdREMICPassThru C M 0 Ser 2013 70 CI Dg 1.750 07/25/2028 3136AEY84 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cert Pool #109412 3.680 08/01/2028 313637N55 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser 4257 CI Ek 2.500 10/15/2028 3137B5A60 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser K095 CI Al 2.631 11/25/2028 3137FNAD2 Standard & Poors Rating: N/A Moodys Rating: N/A 47,458.82 96.6520 50,831.58 0.7 1,473.08 103.52 3.10 23,728.25 24,608.40 0.3 861.00 94.9130 98.43 3.63 18,589.41 96.7870 52,759.39 96.3770 30,312.19 94.7700 14,392.65 95.9510 19,922.41 103.73 3.10 57,134.24 104.37 32,511.84 101.65 14,451.56 96.34 3.83 0.3 576.20 0.7 1,642.28 3.11 0.4 559.74 1.85 5,234.70 5,402.68 97.4190 133,043.40 93.9290 0.2 552.00 0.1 134.33 100.55 2.57 144,018.54 101.68 1.8 4,072.17 3.06 206 embank 00- -M -PF-PC -274-01 00260201 2602 0455256-00-01445-01 Page 8 of 51 ACCOUNT NUMBER: 238302001 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SECOND LIEN REF BONDS 2021 C SERIES C SEC LIEN BDS RESERVE ACCT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 23,678.310 186,994.720 88,568.700 187,417.110 31,731.290 146,876.170 50,648.060 176,483.950 FNMA Partn Cert Pool #611077 4.000 12/01/2028 3140HSFT3 Standard & Poors Rating: N/A Moodys Rating: N/A F H L M C Multiclass Mtg Partn C M 0 Ser K099 CI Al 2.258 06/25/2029 3137FPJF3 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser KCO5 CI Asb 2.230 07/25/2029 3137FPJP1 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn CMOSerK101 CI Al 2.190 07/25/2029 3137FQ3Y7 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cert Pool #Ma0293 4.500 01/01/2030 31417YKF3 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Gold Partn Cert Pool #J32243 3.000 07/01/2030 31307NP40 Standard & Poors Rating: N/A Moodys Rating: N/A GNMAII Partn Cert Pool #Ma2936 3.500 07/20/2030 36179RHM4 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser 2020 P003 CI Al 0.826 09/25/2030 3137FWHY9 Standard & Poors Rating: N/A Moodys Rating: N/A 23,063.38 97.4030 172,121.16 92.0460 82,344.98 92.9730 171,674.07 91.6000 30,898.98 97.3770 138,642.29 94.3940 48,135.92 95.0400 147,487.64 83.5700 24,568.10 103.76 4.11 188,120.41 100.60 0.3 947.13 2.4 4,222.34 2.45 92,914.67 1.1 1,962.72 104.91 2.38 187,898.96 100.26 2.4 4,707.84 2.74 33,696.38 0.4 1,427.91 106.19 4.62 155,870.61 106.12 1.9 4,406.29 3.18 52,957.23 0.7 1,772.68 104.56 3.68 175,601.52 99.50 2.0 1,457.76 .99 207 embank 00- -M -PF-PC -274-01 00260201 2602 0455256-00-01445-01 Page 9 of 51 ACCOUNT NUMBER: 238302001 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SECOND LIEN REF BONDS 2021 C SERIES C SEC LIEN BDS RESERVE ACCT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 9,193.330 131,235.670 53,998.440 47,835.720 83,924.570 67,888.550 27,138.770 34,145.220 FHLMC Partn Cert Mirror Pool #Zs8585 3.000 10/01/2030 3132A9RE9 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cert Umbs Pool #Ma4226 2.000 12/01/2030 31418DVU3 Standard & Poors Rating: N/A Moodys Rating: N/A FNMAGtdREMICPassThru C M 0 Ser 2015 89 CI Ke 2.000 11/25/2031 3136AQZK9 Standard & Poors Rating: N/A Moodys Rating: N/A GNMAII Partn Cert Pool #Ma4691 3.500 09/20/2032 36179TF83 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMCPartn Cert Mirror Pool #Zs8673 3.000 10/01/2032 3132A9T64 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cert Pool#Bm1978 3.000 10/01/2032 3140J6FU6 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cert Umbs Pool #Ma4074 2.000 06/01/2035 31418DQ47 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cert Umbs Pool #Ma4112 3.000 08/01/2035 31418DSA1 Standard & Poors Rating: N/A Moodys Rating: N/A 8,659.38 9,064.06 94.1920 117,826.01 89.7820 50,527.96 93.5730 0.1 275.80 98.59 3.18 136,225.42 103.80 1.6 2,624.71 2.23 55,461.20 0.7 1,079.97 102.71 2.14 45,471.20 50,270.53 0.6 1,674.25 95.0570 105.09 3.68 78,215.18 93.1970 63,266.02 93.1910 23,943.72 88.2270 31,744.47 92.9690 87,454.85 1.1 2,517.74 104.21 3.22 71,633.28 0.9 2,036.66 105.52 3.22 27,932.85 102.93 2.27 0.3 542.78 33,515.68 0.4 1,024.36 98.16 3.23 208 embank 00- -M -PF-PC -274-01 00260201 2602 0455256-00-01445-01 Page 10 of 51 ACCOUNT NUMBER: 238302001 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SECOND LIEN REF BONDS 2021 C SERIES C SEC LIEN BDS RESERVE ACCT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 16,020.470 FHLMC Partn Cart Pool#Sb8505 2.500 10/01/2035 3132D6NW6 Standard & Poors Rating: N/A Moodys Rating: N/A 155,436.480 FNMA Partn Cart Umbs Pool #Ma4279 2.000 03/01/2036 31418DXH0 Standard & Poors Rating: N/A Moodys Rating: N/A 28,992.120 40,351.230 33,259.210 14,449.180 29,479.990 7,737.520 GNMAGtdREMICPassThru C M 0 Ser 2010 166 CI Gp 3.000 04/20/2039 38377RVK8 Standard & Poors Rating: N/A Moodys Rating: N/A GNMAGtdREMICPassThru C M 0 Ser 2010 19 CI Ua 4.000 07/16/2039 38376V2E6 Standard & Poors Rating: N/A Moodys Rating: N/A GNMAGtdREMICPassThru C M 0 Ser 2010 15 CI Pd 4.000 10/20/2039 38376WA62 Standard & Poors Rating: N/A Moodys Rating: N/A GNMAGtdREMICPassThru C M 0 Ser 2010 6 CI Ab 3.000 11/20/2039 38376TTT9 Standard & Poors Rating: N/A Moodys Rating: N/A GNMAGtdREMICPassThru CMOSer2011136CIGa 2.000 05/20/2040 38377YTL4 Standard & Poors Rating: N/A Moodys Rating: N/A GNMAGtdREMICPassThru C M O Ser 2011 18 CI Pg 3.000 08/20/2040 38377QKH9 Standard & Poors Rating: N/A Moodys Rating: N/A 14,555.08 90.8530 137,127.62 88.2210 28,618.41 98.7110 40,147.05 99.4940 32,828.50 98.7050 14,137.66 97.8440 29,088.79 98.6730 15,412.21 0.2 400.51 96.20 2.75 160,616.16 103.33 29, 558.86 101.95 3.04 1.9 3,108.73 2.27 0.4 869.76 41, 380.05 0.6 1,614.05 102.55 4.02 34,349.27 0.5 1,330.37 103.28 4.05 14,677.82 0.2 433.48 101.58 3.07 29,120.70 98.78 2.03 7,636.93 7,825.60 98.7000 0.4 589.60 0.1 232.13 101.14 3.04 209 embank 00- -M -PF-PC -274-01 00260201 2602 0455256-00-01445-01 Page 11 of 51 ACCOUNT NUMBER: 238302001 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SECOND LIEN REF BONDS 2021 C SERIES C SEC LIEN BDS RESERVE ACCT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 151,161.450 11,402.980 44,775.720 95,959.710 30,942.530 113,388.380 8,126.120 10,583.290 FHLMC Partn Cert Pool #Sc0096 3.000 10/01/2040 3132D9C93 Standard & Poors Rating: N/A Moodys Rating: N/A GNMAGtdREMICPassThru C M 0 Ser 2013 47 CI Ec 1.500 12/20/2040 38378JZD7 Standard & Poors Rating: N/A Moodys Rating: N/A GNMAGtdREMICPassThru C M O Ser 2013 71 CI Ga 2.500 07/20/2041 38378TAF7 Standard & Poors Rating: N/A Moodys Rating: N/A GNMAGtdREMICPassThru C M 0 Ser 2013 5 CI Je 2.000 07/20/2042 38378FRB8 Standard & Poors Rating: N/A Moodys Rating: N/A FNMAGtdREMICPassThru C M 0 Ser 2012 148 CI Mc 2.000 11/25/2042 3136ABNZ2 Standard & Poors Rating: N/A Moodys Rating: N/A F H L M C Multiclass Mtg Partn C M 0 Ser 4165 CI Te 1.750 12/15/2042 3137AYSH5 Standard & Poors Rating: N/A Moodys Rating: N/A GNMAGtdREMICPassThru C M 0 Ser 2018 153 CI Wj 3.000 11/20/2045 38381AZ58 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cert Pool #Bm6007 06/01/2049 Var 3140JAU97 Standard & Poors Rating: N/A Moodys Rating: N/A 136,010.54 89.9770 11,154.28 97.8190 43,395.28 96.9170 87, 552.68 91.2390 29,968.46 96.8520 103, 380.72 91.1740 160,286.59 106.04 11,260.43 98.75 1.53 1.9 4,534.84 3.33 0.2 171.04 44,826.67 0.6 1,119.39 100.11 2.58 94, 550.30 1.2 1,919.19 98.53 2.19 31,476.24 0.4 618.85 101.72 2.06 115,731.85 102.07 7,978.47 8,171.83 98.1830 10,564.13 99.8190 1.4 1,984.30 1.92 0.1 243.78 100.56 3.05 10,983.55 103.78 2.60 0.2 274.74 210 embank 00- -M -PF-PC -274-01 00260201 2602 0455256-00-01445-01 Page 12 of 51 ACCOUNT NUMBER: 238302001 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SECOND LIEN REF BONDS 2021 C SERIES C SEC LIEN BDS RESERVE ACCT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc Total US Government Issues $4,903,384.03 $5,270,644.82 67.7 $107,251.87 Corporate Issues .010 Capital One Prime Auto 0.01 0.01 0.0 0.00 A B S Ser 2019 1 CI A3 100.0000 @ 100.00 .00 2.510 11/15/2023 14042WAC4 Standard & Poors Rating: AAA Moodys Rating: Aaa Date Last Priced: 09/16/22 85,000.000 3,474.530 30,000.000 100,000.000 100,000.000 90,000.000 Ford Credit Auto Ls Tr A B S Ser 2020 B CI B 1.000 11/15/2023 34531 RAF4 Standard & Poors Rating: AAA Moodys Rating: Aaa Nissan Auto Receivable Owner ABSSer2019BCIA3 2.500 11/15/2023 65479HAC1 Standard & Poors Rating: N/A Moodys Rating: Aaa Simon Ppty Group L P 01/11/2024 Var 828807DR5 Standard & Poors Rating: A- Moodys Rating: A3 IBM Corp 3.625 02/12/2024 459200HU8 Standard & Poors Rating: A- Moodys Rating: A3 American Express Co 3.400 02/22/2024 025816CC1 Standard & Poors Rating: BBB+ Moodys Rating: A2 Goldman Sachs Group Inc 03/08/2024 Var 38141 GXW9 Standard & Poors Rating: BBB+ Moodys Rating: A2 84,816.40 99.7840 84,863.87 99.84 1.00 3,473.17 3,505.47 99.9610 29,760.30 99.2010 98,654.00 98.6540 1.2 850.00 0.1 86.86 100.89 2.50 30,000.00 0.4 365.57 100.00 1.23 100,071.00 100.07 1.4 3,625.00 3.67 98,180.00 99,509.00 1.4 3,400.00 98.1800 99.51 3.46 89,214.30 99.1270 90,079.11 1.2 2,110.86 100.09 2.37 211 embank 00- -M -PF-PC -274-01 00260201 2602 0455256-00-01445-01 Page 13 of 51 ACCOUNT NUMBER: 238302001 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SECOND LIEN REF BONDS 2021 C SERIES C SEC LIEN BDS RESERVE ACCT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 11,358.850 12,391.420 90,000.000 100,000.000 90,000.000 75,000.000 1,544.900 100,000.000 Carmax Auto Owner Trust A B S Ser 2019 2 CI A3 2.680 03/15/2024 14316LAC7 Standard & Poors Rating: AAA Moodys Rating: N/A Ford Credit Auto Owner Trust A B S Ser 2019 CI A3 1.870 03/15/2024 34531KAD4 Standard & Poors Rating: AAA Moodys Rating: Aaa 11,353.28 99.9510 12,358.95 99.7380 11,488.86 0.2 304.42 101.14 2.68 12,465.00 100.59 1.88 0.2 231.72 Jpmorgan Chase Co 89,354.70 90,371.70 1.2 566.41 03/16/2024 Var 99.2830 100.41 .63 46647PCA2 Standard & Poors Rating: A- Moodys Rating: Al Bank Of America Corp Medium Term Note 4.000 04/01/2024 06051 GFF1 Standard & Poors Rating: A- Moodys Rating: A2 Southern Ca Edison Co 1M Gib' 2021C 24 04/01/2021 Var 842400HC0 Standard & Poors Rating: A- Moodys Rating: A3 Suntrust Bank 3.200 04/01/2024 86787EBC0 Standard & Poors Rating: A Moodys Rating: A2 CNH Equipment Trust A B S Ser 2019 A CI A3 3.010 04/15/2024 12596JAC7 Standard & Poors Rating: AAA Moodys Rating: Aaa Comcast Corp 3.700 04/15/2024 20030NCRO Standard & Poors Rating: A- Moodys Rating: A3 98,847.00 98.8470 88,601.40 98.4460 73,218.75 97.6250 102,044.00 102.04 1.4 4,000.00 4.05 90,191.70 1.2 2,698.07 100.21 3.04 74,820.00 1.0 2,400.00 99.76 3.28 1,544.53 1,555.40 99.9760 98, 349.00 98.3490 0.0 46.50 100.68 3.01 100,302.00 100.30 1.4 3,700.00 3.76 212 embank 00- -M -PF-PC -274-01 00260201 2602 0455256-00-01445-01 Page 14 of 51 ACCOUNT NUMBER: 238302001 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SECOND LIEN REF BONDS 2021 C SERIES C SEC LIEN BDS RESERVE ACCT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 18,185.810 100,000.000 2,193.550 37,083.440 6,360.800 32,864.860 100,000.000 15,000.000 Honda Auto Receivables A B S Ser 2020 1 CI A3 1.610 04/22/2024 43813RAC1 Standard & Poors Rating: N/A Moodys Rating: Aaa Morgan Stanley Medium Term Note 3.875 04/29/2024 61746BDQ6 Standard & Poors Rating: A- Moodys Rating: Al World Omni Auto Receivables A B S Ser 2019 B CI A3 2.590 07/15/2024 98162VAD 1 Standard & Poors Rating: AAA Moodys Rating: N/A Carmax Auto Owner Trust A B S Ser 2019 3 CI A3 2.180 08/15/2024 14315PAD7 Standard & Poors Rating: AAA Moodys Rating: N/A Toyota Auto Receivables A B S Ser 2020 B CI A3 1.360 08/15/2024 89239RACO Standard & Poors Rating: AAA Moodys Rating: Aaa 18,032.69 99.1580 98,171.00 98.1710 18,129.69 99.69 1.62 100,224.00 100.22 2,192.45 2,207.60 99.9500 36,913.23 99.5410 0.3 292.79 1.4 3,875.00 3.95 0.0 56.81 100.64 2.59 37,287.69 0.5 808.42 100.55 2.19 6,298.21 6,294.20 99.0160 0.1 86.51 98.95 1.37 Gm Fin Cons Auto Rec Tr 32,638.75 32,785.27 0.5 69.02 A B S Ser 2021 3 CI A2 99.3120 99.76 .21 0.210 08/16/2024 380140AB9 Standard & Poors Rating: AAA Moodys Rating: N/A American Express Credit Account A B S Ser 2017 7 CI A 2.350 05/15/2025 02582JHL7 Standard & Poors Rating: AAA Moodys Rating: N/A Carmax Auto Owner Trust ABSSer20222CIA2A 2.810 05/15/2025 14317HAB7 Standard & Poors Rating: AAA Moodys Rating: Aaa 99,970.00 99.9700 14,887.65 99.2510 100,316.41 100.32 14,998.85 99.99 2.83 1.4 2,350.00 2.35 0.2 421.50 213 embank 00- -M -PF-PC -274-01 00260201 2602 0455256-00-01445-01 Page 15 of 51 ACCOUNT NUMBER: 238302001 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SECOND LIEN REF BONDS 2021 C SERIES C SEC LIEN BDS RESERVE ACCT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 125,000.000 24,177.250 75,000.000 100,000.000 70,662.900 50,000.000 75,000.000 25,000.000 Wells Fargo Co Medium Term Note 0.805 05/19/2025 95000U2T9 Standard & Poors Rating: BBB+ Moodys Rating: Al CNH Equipment Trust A B S Ser 2020 A CI A3 1.160 06/16/2025 12597PAC2 Standard & Poors Rating: AAA Moodys Rating: Aaa Discover Card Execution Note Trust A B S Ser 2018 A2 CI A2 08/15/2025 Var 254683CE3 Standard & Poors Rating: AAA Moodys Rating: Aaa American Express Credit Account A B S Ser 2018 3 CI A 10/15/2025 Var 02582JHS2 Standard & Poors Rating: N/A Moodys Rating: Aaa 115,642.50 92.5140 23,723.68 98.1240 74,991.00 99.9880 99,986.00 99.9860 117,652.50 94.12 1.6 1,006.25 .87 23,897.70 0.3 280.46 98.84 1.18 75,087.89 1.0 2,108.77 100.12 2.81 100,265.63 100.27 1.4 2,801.37 2.80 Carmax Auto Owner Tr 68,377.66 69,591.92 0.9 240.25 A B S Ser 2021 1 CI A 3 96.7660 98.48 .35 12/15/2025 Var 14316NAC3 Standard & Poors Rating: AAA Moodys Rating: N/A Carmax Auto Own 48,334.00 49,220.70 0.7 260.00 A B S Ser 2021 2 CI A3 96.6680 98.44 .54 02/17/2026 Var 14314QAC8 Standard & Poors Rating: AAA Moodys Rating: N/A Capital One Multi Asset Execution ABSSer2018A2CIA2 03/16/2026 Var 14041NFS5 Standard & Poors Rating: AAA Moodys Rating: N/R Capital One Multi Asset A B S Ser 2022 Al CI Al 2.800 03/15/2027 14041NFZ9 Standard & Poors Rating: AAA Moodys Rating: N/A 74,967.00 99.9560 23,928.75 95.7150 75,114.26 1.0 2,124.28 100.15 2.83 24,335.94 97.34 2.92 0.3 700.00 214 embank 00- -M -PF-PC -274-01 00260201 2602 0455256-00-01445-01 Page 16 of 51 ACCOUNT NUMBER: 238302001 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SECOND LIEN REF BONDS 2021 C SERIES C SEC LIEN BDS RESERVE ACCT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc Total Corporate Issues $1,716,780.36 $1,738,677.37 23.7 $41,866.84 Foreign Issues 90,000.000 125,000.000 Royal Bk Of Canada Medium Term Note 10/26/2023 Var 78015K7K4 Standard & Poors Rating: A Moodys Rating: Al Toronto Dominion Bank Medium Term Note 2.350 03/08/2024 89114TZR6 Standard & Poors Rating: A Moodys Rating: Al 89,666.10 90,377.55 1.2 1,299.86 99.6290 100.42 1.45 120,598.75 96.4790 122,986.25 98.39 1.7 2,937.50 2.44 Total Foreign Issues $210,264.85 $213,363.80 2.9 $4,237.36 Municipal Issues 105,000.000 45,000.000 70,000.000 55,000.000 Dallas Tx Area Rapid Tran Sales Tax Rev Taxable Sr Lien Ref Bds 2021 A 4.00012/01/2022 Taxable 235241 VW3 Standard & Poors Rating: AA+ Moodys Rating: Aa2 New York Ny Taxable Go Bds Fiscal 1.150 03/01/2023 Taxable 64966QJD3 Standard & Poors Rating: AA Moodys Rating: Aa2 Port Auth N Y N J Taxable Consolidated Nts AAA Ny 1.086 07/01/2023 Taxable 73358W4V3 Standard & Poors Rating: AA- Moodys Rating: Aa3 105,082.95 100.0790 44,505.45 98.9010 108,839.85 103.66 45,105.30 100.23 1.16 1.5 4,200.00 4.00 0.6 517.50 68,238.80 69,628.05 0.9 760.20 97.4840 99.47 1.11 San Diego Cnty Calif Regl Arptauth 53,329.10 55,000.00 0.7 359.70 Arpt Rev Taxable Sub Ref Bds 2021 Ca 96.9620 100.00 .67 0.654 07/01/2023 Taxable 79739GPB6 Standard & Poors Rating: N/A Moodys Rating: A2 215 embank 00- -M -PF-PC -274-01 00260201 2602 0455256-00-01445-01 Page 17 of 51 ACCOUNT NUMBER: 238302001 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SECOND LIEN REF BONDS 2021 C SERIES C SEC LIEN BDS RESERVE ACCT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 50,000.000 80,000.000 University Wa Univ Revs Taxable Gen Ref Bds 2022 B 1.470 07/01/2023 Taxable 91523NWT9 Standard & Poors Rating: AA+ Moodys Rating: Aaa 49,036.50 98.0730 50,000.00 100.00 1.50 0.7 735.00 Ref Bds 2021 76,719.20 80,000.00 1.1 736.80 0.921 02/01/2024 Taxable 95.8990 100.00 .96 346604LK5 Standard & Poors Rating: AAA Moodys Rating: Aaa Total Municipal Issues $396,912.00 $408,573.20 5.5 $7,309.20 Cash Principal Cash Income Cash 367.57 367.57 - 367.57 - 367.57 Total Cash $0.00 $0.00 0.0 Total Assets $7,245,459.13 $7,649,377.08 100.0 $161,111.52 ASSET DETAIL MESSAGES Time of trade execution and trading party (if not disclosed) will be provided upon request. Publicly traded assets are valued in accordance with market quotations or valuation methodologies from financial industry services believed by us to be reliable. Assets that are not publicly traded may be reflected at values from other external sources. Assets for which a current value is not available may be reflected at a previous value or as not valued, at par value, or at a nominal value. Values shown do not necessarily reflect prices at which assets could be bought or sold. Values are updated based on internal policy and may be updated less frequently than statement generation. For further information, please contact your Analyst. Yield at Market and Estimated Annual Income are estimates provided for informational purposes only and should not be relied on for making investment, trading, or tax decisions. The estimates may not represent the actual value earned by your investments and they provide no guarantee of what your investments may earn in the future. @ No current price is available. 216 embank 00- -M -PF-PC -274-01 00260201 2602 0455256-00-01445-01 Page 19 of 51 ACCOUNT NUMBER: 238302001 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SECOND LIEN REF BONDS 2021 C SERIES C SEC LIEN BDS RESERVE ACCT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL Date Income Principal Tax Posted Description Cash Cash Cost Beginning Balance 09/01/2022 $.00 $.00 $7,639,353.79 09/01/22 Interest Earned On Citigroup Inc 3.02786% 9/01/23 0.007693 USD/$1 Pv On 100,000 Par Value Due 9/1/22 172967KX8 769.33 09/01/22 Sold 4.46 Units Of 4.46 - 4.46 First Am Govt Ob Fd CI Y Trade Date 9/1/22 31846V203 09/01/22 Full Call 100,000 $1 Pv Citigroup Inc 3.02786% 9/01/23 On 09/01/22 At 1.00 USD ST Capital Loss Of 811.60- USD On Federal Cost Federal Tax Cost 100,811.60 USD Corporate Action Id: 177175 172967KX8 09/01/22 Interest Earned On New York Ny 1.150% 3/01/23 0.00575 USD/$1 Pv On 45,000 Par Value Due 9/1/22 64966QJD3 09/01/22 Cash Disbursement Transfer To Principal 1 09/01/22 Cash Receipt Transfer From Income 1 09/01/22 Purchased 101,032.54 Units Of First Am Govt Ob Fd CI Y Trade Date 9/1/22 31846V203 09/01/22 Interest Earned On First Am Govt Ob Fd CI Y Interest From 8/1/22 To 8/31/22 31846V203 09/02/22 Cash Disbursement Transfer To Principal 1 09/02/22 Cash Receipt Transfer From Income 1 09/02/22 Purchased 360.25 Units Of First Am Govt Ob Fd CI Y Trade Date 9/2/22 31846V203 09/08/22 Interest Earned On Toronto Mtn 2.350% 3/08/24 0.011619 USD/$1 Pv On 125,000 Par Value Due 9/8/22 89114TZR6 258.75 - 1,032.54 360.25 - 355.79 1,452.43 100,000.00 - 100,811.60 1,032.54 - 101,032.54 101,032.54 355.79 - 360.25 360.25 217 embank 00- -M -PF-PC -274-01 00260201 2602 0455256-00-01445-01 Page 20 of 51 ACCOUNT NUMBER: 238302001 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SECOND LIEN REF BONDS 2021 C SERIES C SEC LIEN BDS RESERVE ACCT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/08/22 Purchased 1,452.43 Units Of First Am Govt Ob Fd CI Y Trade Date 9/8/22 31846V203 09/08/22 Interest Earned On Goldman Sachs 2.3454% 3/08/24 0.005994 USD/$1 Pv On 90,000 Par Value Due 9/8/22 38141 GXW9 539.44 09/08/22 Cash Disbursement - 539.44 Transfer To Principal 1 - 1,452.43 1,452.43 09/08/22 Cash Receipt 539.44 Transfer From Income 1 09/08/22 Purchased 539.44 Units Of - 539.44 539.44 First Am Govt Ob Fd CI Y Trade Date 9/8/22 31846V203 09/09/22 Cash Disbursement Transfer To Principal 1 09/09/22 Cash Receipt Transfer From Income 1 09/12/22 Matured 200,000 Par Value Of Mizuho Financial 2.60129% 9/11/22 Trade Date 9/11/22 200,000 Par Value At 100 % 60687YAN9 09/12/22 Interest Earned On Mizuho Financial 2.60129% 9/11/22 0.006503 USD/$1 Pv On 200,000 Par Value Due 9/11/22 60687YAN9 09/12/22 Cash Disbursement Transfer To Principal 1 09/12/22 Cash Receipt Transfer From Income 1 09/12/22 Purchased 201,300.65 Units Of First Am Govt Ob Fd CI Y Trade Date 9/12/22 31846V203 09/15/22 Interest Earned On Capital One Prime 2.510% 11/15/23 $0.00209/Pv On 1,382.19 Pv Due 9/15/22 14042WAC4 - 1,452.43 1,300.65 - 1,300.65 2.90 1,452.43 200,000.00 - 201,016.20 1,300.65 -201,300.65 201,300.65 218 embank 00- -M -PF-PC -274-01 00260201 2602 0455256-00-01445-01 Page 21 of 51 ACCOUNT NUMBER: 238302001 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SECOND LIEN REF BONDS 2021 C SERIES C SEC LIEN BDS RESERVE ACCT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/15/22 Paid Down 1,382.18 Par Value Of Capital One Prime 2.510% 11/15/23 Princ/Int Due 14042WAC4 09/15/22 Paid Down 40,000 Par Value Of Capital One Multi 2.290% 7/15/25 Cmo Final Paydown 14041 N FQ9 09/15/22 Paid Down 100,000 Par Value Of Ford Credit 3.0907% 9/15/24 Cmo Final Paydown 34528QHB3 09/15/22 Paid Down 460.72 Par Value Of World Omni 1.700% 1/15/23 Cmo Final Paydown 98162HAC4 09/15/22 Interest Earned On CNH Equipment Trust 3.010% 4/15/24 $0.00251/Pv On 5,165.88 Pv Due 9/15/22 12596JAC7 09/15/22 Paid Down 3,620.98 Par Value Of CNH Equipment Trust 3.010% 4/15/24 Trade Date 9/15/22 12596JAC7 09/15/22 Interest Earned On CNH Equipment Trust 1.160% 6/16/25 $0.00097/Pv On 25,135.66 Pv Due 9/15/22 12597PAC2 12.96 24.30 1,382.18 - 1,386.81 40,000.00 100,000.00 460.72 - 40,150.00 - 100,078.13 - 464.61 3,620.98 - 3,645.60 09/15/22 Paid Down 958.41 Par Value Of 958.41 - 947.33 CNH Equipment Trust 1.160% 6/16/25 Trade Date 9/15/22 12597PAC2 09/15/22 Interest Earned On Toyota Auto 1.360% 8/15/24 $0.00113/Pv On 7,106.22 Pv Due 9/15/22 89239RAC0 8.05 09/15/22 Paid Down 745.42 Par Value Of 745.42 - 737.62 Toyota Auto 1.360% 8/15/24 Trade Date 9/15/22 89239RAC0 09/15/22 Purchased 147,215.92 Units Of First Am Govt Ob Fd CI Y Trade Date 9/15/22 31846V203 09/15/22 Interest Earned On F H L M C Mltcl Mtg 1.500% 5/15/27 $0.00125/Pv On 63,866.10 Pv Due 9/15/22 3137AQQE1 79.84 - 147,215.92 147,215.92 219 embank 00- -M -PF-PC -274-01 00260201 2602 0455256-00-01445-01 Page 22 of 51 ACCOUNT NUMBER: 238302001 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SECOND LIEN REF BONDS 2021 C SERIES C SEC LIEN BDS RESERVE ACCT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/15/22 Paid Down 1,983 Par Value Of F H L M C Mltcl Mtg 1.500% 5/15/27 Trade Date 9/15/22 3137AQQE1 09/15/22 Interest Earned On F H L M C MItcl Mtg 1.750% 12/15/42 $0.00146/Pv On 115,171.66 Pv Due 9/15/22 3137AYSH5 09/15/22 Paid Down 1,783.28 Par Value Of F H L M C MItcl Mtg 1.750% 12/15/42 Trade Date 9/15/22 3137AYSH5 09/15/22 Interest Earned On F H L M C Mltcl Mtg 2.500% 10/15/28 $0.00208/Pv On 5,699.95 Pv Due 9/15/22 3137B5A60 09/15/22 Paid Down 326.56 Par Value Of F H L M C MItcl Mtg 2.500% 10/15/28 Trade Date 9/15/22 3137B5A60 09/15/22 Interest Earned On FHLMCMItcl Mtg 2.000% 11/15/26 $0.00167/Pv On 40,410.74 Pv Due 9/15/22 3137B6DF5 09/15/22 Paid Down 2,783.01 Par Value Of F H L M C Mltcl Mtg 2.000% 11/15/26 Trade Date 9/15/22 3137B6DF5 09/15/22 Interest Earned On FHLMCMItcl Mtg 2.500% 12/15/27 $0.00208/Pv On 56,702.39 Pv Due 9/15/22 3137B9RN7 09/15/22 Paid Down 3,549.43 Par Value Of F H L M C MItcl Mtg 2.500% 12/15/27 Trade Date 9/15/22 3137B9RN7 09/15/22 Interest Earned On American Express 2.350% 5/15/25 $0.00196/Pv On 100,000.00 Pv Due 9/15/22 02582JHL7 09/15/22 Interest Earned On American Express 2.80137% 10/15/25 $0.00233/Pv On 100,000.00 Pv Due 9/15/22 02582JHS2 09/15/22 Interest Earned On Capital One Multi 2.290% 7/15/25 $0.00191/Pv On 40,000.00 Pv Due 9/15/22 14041 N FQ9 167.96 11.87 67.35 118.13 195.83 233.45 76.33 1,983.00 - 2,011.40 1,783.28 - 1,820.13 326.56 - 328.34 2,783.01 - 2,754.09 3,549.43 - 3,607.91 220 embank 00- -M -PF-PC -274-01 00260201 2602 0455256-00-01445-01 Page 23 of 51 ACCOUNT NUMBER: 238302001 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SECOND LIEN REF BONDS 2021 C SERIES C SEC LIEN BDS RESERVE ACCT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/15/22 Interest Earned On Capital One Multi 2.83237% 3/16/26 $0.00236/Pv On 75,000.00 Pv Due 9/15/22 14041 N FS5 09/15/22 Interest Earned On Capital One Multi 2.800% 3/15/27 $0.00233/Pv On 25,000.00 Pv Due 9/15/22 14041 N FZ9 09/15/22 Interest Earned On Carmax Auto Own 0.520% 2/17/26 $0.00043/Pv On 50,000.00 Pv Due 9/15/22 14314QAC8 09/15/22 Interest Earned On Carmax Auto Owner 2.180% 8/15/24 $0.00182/Pv On 42,919.57 Pv Due 9/15/22 14315PAD7 09/15/22 Paid Down 5,836.13 Par Value Of Carmax Auto Owner 2.180% 8/15/24 Trade Date 9/15/22 14315PAD7 09/15/22 Interest Earned On Carmax Auto Owner 2.680% 3/15/24 $0.00223/Pv On 16,571.98 Pv Due 9/15/22 14316LAC7 09/15/22 Paid Down 5,213.13 Par Value Of Carmax Auto Owner 2.680% 3/15/24 Trade Date 9/15/22 14316LAC7 09/15/22 Interest Earned On Carmax Auto Owner 0.340% 12/15/25 $0.00028/Pv On 75,035.12 Pv Due 9/15/22 14316NAC3 09/15/22 Paid Down 4,372.22 Par Value Of Carmax Auto Owner 0.340% 12/15/25 Trade Date 9/15/22 14316NAC3 09/15/22 Interest Earned On Carmax Auto Owner 2.810% 5/15/25 $0.00234/Pv On 15,000.00 Pv Due 9/15/22 14317HAB7 09/15/22 Interest Earned On Discover Card 2.8117% 8/15/25 $0.00234/Pv On 75,000.00 Pv Due 9/15/22 254683CE3 09/15/22 Interest Earned On Ford Credit 3.0907% 9/15/24 $0.00258/Pv On 100,000.00 Pv Due 9/15/22 34528QHB3 177.02 58.33 21.67 77.97 37.01 21.26 35.13 175.73 257.56 5,836.13 - 5,868.28 5,213.13 - 5,272.80 4,372.22 - 4,305.96 221 embank 00- -M -PF-PC -274-01 00260201 2602 0455256-00-01445-01 Page 24 of 51 ACCOUNT NUMBER: 238302001 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SECOND LIEN REF BONDS 2021 C SERIES C SEC LIEN BDS RESERVE ACCT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/15/22 Interest Earned On Ford Credit Auto 1.870% 3/15/24 $0.00156/Pv On 15,714.58 Pv Due 9/15/22 34531KAD4 09/15/22 Paid Down 3,323.16 Par Value Of Ford Credit Auto 1.870% 3/15/24 Trade Date 9/15/22 34531KAD4 09/15/22 Interest Earned On Ford Credit Auto Ls 1.000% 11/15/23 $0.00083/Pv On 85,000.00 Pv Due 9/15/22 34531 RAF4 09/15/22 Interest Earned On Nissan Auto 2.500% 11/15/23 $0.00208/Pv On 6,004.42 Pv Due 9/15/22 65479HAC1 09/15/22 Paid Down 2,529.89 Par Value Of Nissan Auto 2.500% 11/15/23 Trade Date 9/15/22 65479HAC1 09/15/22 Interest Earned On World Omni 1.700% 1/15/23 $0.00142/Pv On 460.72 Pv Due 9/15/22 98162HAC4 09/15/22 Interest Earned On World Omni Auto 2.590% 7/15/24 $0.00216/Pv On 3,719.99 Pv Due 9/15/22 98162VAD1 09/15/22 Paid Down 1,526.44 Par Value Of World Omni Auto 2.590% 7/15/24 Trade Date 9/15/22 98162VAD1 09/15/22 Paid Down 2,832.78 Par Value Of GNMA #778953 3.000% 3/15/27 For Record Date Of August Due 9/15/22 August GNMA Due 9/15/22 36176XE21 09/15/22 Interest Earned On GNMA #778953 3.000% 3/15/27 August GNMA Due 9/15/22 36176XE21 09/15/22 Paid Down 866.44 Par Value Of GNMA #779250 3.000% 5/15/27 For Record Date Of August Due 9/15/22 August GNMA Due 9/15/22 36176XQB8 09/15/22 Interest Earned On GNMA #779250 3.000% 5/15/27 August GNMA Due 9/15/22 36176XQB8 24.49 70.83 12.51 0.65 8.03 200.40 69.41 3,323.16 - 3,342.89 2,529.89 - 2,552.42 1,526.44 - 1,536.22 2,832.78 - 2,918.23 866.44 - 898.01 222 embank 00- -M -PF-PC -274-01 00260201 2602 0455256-00-01445-01 Page 25 of 51 ACCOUNT NUMBER: 238302001 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SECOND LIEN REF BONDS 2021 C SERIES C SEC LIEN BDS RESERVE ACCT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/15/22 Paid Down 1,146.47 Par Value Of GNMA #711168 4.500% 2/15/25 For Record Date Of August Due 9/15/22 August GNMA Due 9/15/22 36297GCD0 09/15/22 Interest Earned On GNMA #711168 4.500% 2/15/25 August GNMA Due 9/15/22 36297GCD0 09/15/22 Paid Down 1,797.89 Par Value Of FHLMC Gd J32243 3.000% 7/01/30 For Record Date Of August Due 9/15/22 August FHLMC Due 9/15/22 31307NP40 09/15/22 Interest Earned On F H L M C Gd J32243 3.000% 7/01/30 August FHLMC Due 9/15/22 31307NP40 09/15/22 Purchased 25,000 Par Value Of F H L M C MItcl Mt 3.444% 12/25/27 Trade Date 9/12/22 Purchased Through Toronto Dominion Securities (U Swift External Ref#: 00954000002360B 25,000 Par Value At 98.4336 % 3137FEBQ2 09/15/22 Paid Accrued Interest On Purchase Of F H L M C Mltcl Mt 3.444% 12/25/27 Income Debit 33.48- USD 3137FEBQ2 09/15/22 09/15/22 09/15/22 Cash Disbursement Transfer To Principal 1 Cash Receipt Transfer From Income 1 Purchased 17,914.91 Units Of First Am Govt Ob Fd CI Y Trade Date 9/15/22 31846V203 09/16/22 Interest Earned On Gm Fin Cons Auto 0.210% 8/16/24 $0.00018/Pv On 39,559.63 Pv Due 9/16/22 380140AB9 09/16/22 Paid Down 6,694.77 Par Value Of Gm Fin Cons Auto 0.210% 8/16/24 Trade Date 9/16/22 380140AB9 09/16/22 Sold 143,232.56 Units Of First Am Govt Ob Fd CI Y Trade Date 9/16/22 31846V203 116.51 371.69 - 33.48 - 2,653.48 6.92 1,146.47 - 1,162.65 1,797.89 - 1,907.99 - 24,608.40 24,608.40 2,653.48 - 17,914.91 17,914.91 6,694.77 - 6,678.56 143,232.56 - 143,232.56 223 embank 00- -M -PF-PC -274-01 00260201 2602 0455256-00-01445-01 Page 26 of 51 ACCOUNT NUMBER: 238302001 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SECOND LIEN REF BONDS 2021 C SERIES C SEC LIEN BDS RESERVE ACCT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/16/22 Interest Earned On G N MA Gtd Remic 4.000% 7/16/39 $0.00333/Pv On 41,669.65 Pv Due 9/16/22 38376V2E6 09/16/22 Paid Down 1,318.42 Par Value Of G N M A Gtd Remic 4.000% 7/16/39 Trade Date 9/16/22 38376V2E6 09/16/22 Purchased 25,000 Par Value Of F H L M C Mltcl Mtg 3.291% 3/25/27 Trade Date 9/13/22 Purchased Through Brean Capital LLC Swift External Ref#: 00954000002370B 25,000 Par Value At 96.70312 % 3137BXRT1 09/16/22 Paid Accrued Interest On Purchase Of F H L M C Mltcl Mtg 3.291% 3/25/27 Income Debit 34.28- USD 3137BXRT1 09/16/22 Interest Earned On Jpmorgan Chase Co 0.62934% 3/16/24 0.006335 USD/$1 Pv On 90,000 Par Value Due 9/16/22 46647PCA2 09/16/22 Cash Disbursement Transfer To Principal 1 09/16/22 Cash Receipt Transfer From Income 1 09/16/22 Sold 22,182.63 Units Of First Am Govt Ob Fd CI Y Trade Date 9/16/22 31846V203 09/16/22 Purchased 150,000 Par Value Of Virginia Elec Pwr Co C P 9/22/22 Trade Date 9/16/22 Purchased Through Mizuho Securities USA Inc. Swift External Ref#: 00954000002380A 150,000 Par Value At 99.95616667 92780KJN9 09/19/22 Cash Disbursement Transfer To Principal 1 09/19/22 Cash Receipt Transfer From Income 1 09/20/22 Interest Earned On G N M A Gtd Remic 3.000% 11/20/39 $0.00250/Pv On 14,955.89 Pv Due 9/20/22 38376TTT9 138.90 - 34.28 570.11 - 722.94 - 6.92 37.39 1,318.42 - 1,352.04 - 24,175.78 24,175.78 722.94 22,182.63 - 22,182.63 - 149,934.25 149,934.25 6.92 224 embank 00- -M -PF-PC -274-01 00260201 2602 0455256-00-01445-01 Page 27 of 51 ACCOUNT NUMBER: 238302001 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SECOND LIEN REF BONDS 2021 C SERIES C SEC LIEN BDS RESERVE ACCT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/20/22 Paid Down 506.71 Par Value Of G N M A Gtd Remic 3.000% 11/20/39 Trade Date 9/20/22 38376TTT9 09/20/22 Interest Earned On G N MA Gtd Remic 4.000% 10/20/39 $0.00333/Pv On 34,467.28 Pv Due 9/20/22 38376WA62 09/20/22 Paid Down 1,208.07 Par Value Of G N M A Gtd Remic 4.000% 10/20/39 Trade Date 9/20/22 38376WA62 09/20/22 Interest Earned On G N M A Gtd Remic 3.000% 8/20/40 $0.00250/Pv On 8,179.41 Pv Due 9/20/22 38377QKH9 09/20/22 Paid Down 441.89 Par Value Of G N M A Gtd Remic 3.000% 8/20/40 Trade Date 9/20/22 38377QKH9 09/20/22 Interest Earned On G N MA Gtd Remic 3.000% 4/20/39 $0.00250/Pv On 30,181.04 Pv Due 9/20/22 38377RVK8 09/20/22 Paid Down 1,188.92 Par Value Of G N M A Gtd Remic 3.000% 4/20/39 Trade Date 9/20/22 38377RVK8 09/20/22 Interest Earned On G N M A Gtd Remic 2.000% 5/20/40 $0.00167/Pv On 30,384.03 Pv Due 9/20/22 38377YTL4 09/20/22 Paid Down 904.04 Par Value Of G N M A Gtd Remic 2.000% 5/20/40 Trade Date 9/20/22 38377YTL4 09/20/22 Interest Earned On G N M A Gtd Remic 3.000% 10/20/26 $0.00250/Pv On 19,679.27 Pv Due 9/20/22 38378AU90 09/20/22 Paid Down 2,281.66 Par Value Of G N M A Gtd Remic 3.000% 10/20/26 Trade Date 9/20/22 38378AU90 09/20/22 Interest Earned On G N M A Gtd Remic 2.000% 7/20/42 $0.00167/Pv On 97,157.78 Pv Due 9/20/22 38378FRB8 114.89 20.45 75.45 50.64 49.20 161.93 506.71 - 514.73 1,208.07 - 1,247.66 441.89 - 446.92 1,188.92 - 1,212.16 904.04 - 893.02 2,281.66 - 2,317.65 225 embank 00- -M -PF-PC -274-01 00260201 2602 0455256-00-01445-01 Page 28 of 51 ACCOUNT NUMBER: 238302001 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SECOND LIEN REF BONDS 2021 C SERIES C SEC LIEN BDS RESERVE ACCT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/20/22 Paid Down 1,198.07 Par Value Of G N MA Gtd Remic 2.000% 7/20/42 Trade Date 9/20/22 38378FRB8 09/20/22 Interest Earned On G N MA Gtd Remic 1.500% 8/20/27 $0.00125/Pv On 39,743.27 Pv Due 9/20/22 38378HAU0 09/20/22 Paid Down 1,109.47 Par Value Of G N MA Gtd Remic 1.500% 8/20/27 Trade Date 9/20/22 38378HAU0 09/20/22 Interest Earned On G N MA Gtd Remic 1.500% 12/20/40 $0.00125/Pv On 11,898.34 Pv Due 9/20/22 38378JZD7 09/20/22 Paid Down 495.36 Par Value Of G N MA Gtd Remic 1.500% 12/20/40 Trade Date 9/20/22 38378JZD7 09/20/22 Interest Earned On G N MA Gtd Remic 2.500% 7/20/41 $0.00208/Pv On 46,091.43 Pv Due 9/20/22 38378TAF7 09/20/22 Paid Down 1,315.71 Par Value Of G N MA Gtd Remic 2.500% 7/20/41 Trade Date 9/20/22 38378TAF7 09/20/22 Interest Earned On G N MA Gtd Remic 3.000% 11/20/45 $0.00250/Pv On 8,677.13 Pv Due 9/20/22 38381AZ58 09/20/22 Paid Down 551.01 Par Value Of G N MA Gtd Remic 3.000% 11/20/45 Trade Date 9/20/22 38381AZ58 09/20/22 Paid Down 670.88 Par Value Of GNMAII #Ma0909 3.000% 4/20/28 For Record Date Of August Due 9/20/22 August GNMA Due 9/20/22 36179NAJ7 09/20/22 Interest Earned On GNMAII #Ma0909 3.000% 4/20/28 August GNMA Due 9/20/22 36179NAJ7 09/20/22 Paid Down 1,299.61 Par Value Of GNMAII #005300 3.000% 2/20/27 For Record Date Of August Due 9/20/22 August GNMA Due 9/20/22 36202F3H7 49.68 14.87 96.02 21.69 49.69 1,198.07 - 1,180.47 1,109.47 - 1,124.40 495.36 - 489.17 1,315.71 - 1,317.21 551.01 - 554.11 670.88 - 695.89 1,299.61 - 1,344.48 226 embank 00- -M -PF-PC -274-01 00260201 2602 0455256-00-01445-01 Page 29 of 51 ACCOUNT NUMBER: 238302001 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SECOND LIEN REF BONDS 2021 C SERIES C SEC LIEN BDS RESERVE ACCT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/20/22 Interest Earned On GNMAII #005300 3.000% 2/20/27 August GNMA Due 9/20/22 36202F3H7 09/20/22 Paid Down 1,585.04 Par Value Of GNMAII #Ma1134 3.000% 7/20/28 For Record Date Of August Due 9/20/22 August GNMA Due 9/20/22 36179NHK7 09/20/22 Interest Earned On GNMAII #Ma1134 3.000% 7/20/28 August GNMA Due 9/20/22 36179NHK7 09/20/22 Paid Down 1,036.21 Par Value Of GNMAII #Ma0602 3.000% 12/20/27 For Record Date Of August Due 9/20/22 August GNMA Due 9/20/22 36179MU32 09/20/22 Interest Earned On GNMAII #Ma0602 3.000% 12/20/27 August GNMA Due 9/20/22 36179MU32 09/20/22 Paid Down 945.23 Par Value Of GNMAII #Ma4691 3.500% 9/20/32 For Record Date Of August Due 9/20/22 August GNMA Due 9/20/22 36179TF83 09/20/22 Interest Earned On GNMAII #Ma4691 3.500% 9/20/32 August GNMA Due 9/20/22 36179TF83 09/20/22 Paid Down 1,669.13 Par Value Of GNMAII #Ma2936 3.500% 7/20/30 For Record Date Of August Due 9/20/22 August GNMA Due 9/20/22 36179RHM4 09/20/22 Interest Earned On GNMAII #Ma2936 3.500% 7/20/30 August GNMA Due 9/20/22 36179RHM4 09/20/22 Cash Disbursement Transfer To Principal 1 09/20/22 Cash Receipt Transfer From Income 1 09/20/22 Purchased 19,812.74 Units Of First Am Govt Ob Fd CI Y Trade Date 9/20/22 31846V203 102.79 140.82 125.35 142.28 152.59 - 1,405.73 1,585.04 - 1,654.29 1,036.21 - 1,072.69 945.23 - 993.34 1,669.13 - 1,745.23 1,405.73 - 19,812.74 19,812.74 227 embank 00- -M -PF-PC -274-01 00260201 2602 0455256-00-01445-01 Page 30 of 51 ACCOUNT NUMBER: 238302001 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SECOND LIEN REF BONDS 2021 C SERIES C SEC LIEN BDS RESERVE ACCT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/21/22 Interest Earned On Honda Auto 1.610% 4/22/24 $0.00134/Pv On 20,609.99 Pv Due 9/21/22 43813RAC1 09/21/22 Paid Down 2,424.18 Par Value Of Honda Auto 1.610% 4/22/24 Trade Date 9/21/22 43813RAC1 09/21/22 Purchased 2,451.83 Units Of First Am Govt Ob Fd CI Y Trade Date 9/21/22 31846V203 09/22/22 Purchased 500,000 Par Value Of U S Treasury Nt 0.125% 1/31/23 Trade Date 9/20/22 Purchased Through Sbnyus33 Citgroup Gbl Mkts Ny Swift External Ref#: 00954000002460A 500,000 Par Value At 98.765626 % 91282CBG5 09/22/22 Paid Accrued Interest On Purchase Of U S Treasury Nt 0.125% 1/31/23 Income Debit 90.01- USD 91282CBG5 09/22/22 Matured 150,000 Par Value Of Virginia Elec Pwr Co C P 9/22/22 Trade Date 9/22/22 150,000 Par Value At 100 92780KJN9 09/22/22 Interest Earned On Virginia Elec Pwr Co C P 9/22/22 150,000 Par Value At 100 % 92780KJN9 09/22/22 Cash Disbursement Transfer To Principal 1 09/22/22 Cash Receipt Transfer From Income 1 09/22/22 Sold 343,918.14 Units Of First Am Govt Ob Fd CI Y Trade Date 9/22/22 31846V203 09/26/22 Paid Down 48,394.79 Par Value Of FNMA #An2905 2.550% 10/01/28 P & I Due 09/25/22 3138LFGP7 09/26/22 Interest Earned On FNMA #An2905 2.550% 10/01/28 P & I Due 09/25/22 3138LFGP7 27.65 - 90.01 65.75 - 3.39 106.27 2,424.18 - 2,416.70 - 2,451.83 2,451.83 - 493,828.13 493,828.13 149,934.25 - 149,934.25 3.39 343,918.14 - 343,918.14 48,394.79 - 49,723.17 228 embank 00- -M -PF-PC -274-01 00260201 2602 0455256-00-01445-01 Page 31 of 51 ACCOUNT NUMBER: 238302001 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SECOND LIEN REF BONDS 2021 C SERIES C SEC LIEN BDS RESERVE ACCT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Paid Down 153.32 Par Value Of FNMA #An 1613 2.550% 7/01/26 P & I Due 09/25/22 3138LDYK3 09/26/22 Interest Earned On FNMA #An 1613 2.550% 7/01/26 P & I Due 09/25/22 3138LDYK3 09/26/22 Interest Earned On FNMA #Bm6007 2.596% 6/01/49 Int Due 9/25/22 3140JAU97 09/26/22 Interest Earned On F H L M C Mltcl Mt 3.284% 6/25/25 0.002737 USD/$1 Pv On 150,000 Par Value Due 9/25/22 3137BLAC2 09/26/22 Interest Earned On F H L M C Mltcl Mt 3.320% 2/25/23 $0.00277/Pv On 47,591.96 Pv Due 9/25/22 3137B36J2 09/26/22 Paid Down 1,038.52 Par Value Of F H L M C Mltcl Mt 3.320% 2/25/23 Trade Date 9/25/22 3137B36J2 09/26/22 Interest Earned On F H L M C Mltcl Mtg 2.637% 1/25/23 $0.00220/Pv On 32,021.64 Pv Due 9/25/22 3137B1UG5 09/26/22 Paid Down 3,378.81 Par Value Of FHLMCMItcl Mtg 2.637% 1/25/23 Trade Date 9/25/22 3137B1UG5 09/26/22 Interest Earned On F H L M C Mltcl Mtg 2.778% 9/25/22 $0.00232/Pv On 0.00 Pv Due 9/25/22 3137B3NW4 09/26/22 Interest Earned On F H L M C Mltcl Mtg 3.329% 5/25/25 $0.00277/Pv On 15,000.00 Pv Due 9/25/22 3137BKRJ1 09/26/22 Interest Earned On F H L M C Mltcl Mtg 2.802% 1/25/25 $0.00234/Pv On 18,527.26 Pv Due 9/25/22 3137BLW87 09/26/22 Paid Down 542.44 Par Value Of F H L M C Mltcl Mtg 2.802% 1/25/25 Trade Date 9/25/22 3137BLW87 164.08 23.33 410.50 131.67 70.37 2.25 41.61 43.26 153.32 - 148.50 1,038.52 - 1,046.07 3,378.81 - 3,410.75 542.44 - 540.58 229 embank 00- -M -PF-PC -274-01 00260201 2602 0455256-00-01445-01 Page 32 of 51 ACCOUNT NUMBER: 238302001 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SECOND LIEN REF BONDS 2021 C SERIES C SEC LIEN BDS RESERVE ACCT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Interest Earned On F H L M C Mltcl Mtg 2.849% 3/25/26 $0.00237/Pv On 200,000.00 Pv Due 9/25/22 3137BP4K2 09/26/22 Interest Earned On F H L M C Mltcl Mt 0.52896% 9/25/24 $0.00243/Pv On 189,384.99 Pv Due 9/25/22 3137F4CY6 09/26/22 Paid Down 74.76 Par Value Of F H L M C Mltcl Mt 0.52896% 9/25/24 Trade Date 9/25/22 3137F4CY6 09/26/22 Interest Earned On F H L M C Mltcl Mt 2.77704% 8/25/27 $0.00253/Pv On 129,149.80 Pv Due 9/25/22 3137FBAB2 09/26/22 Paid Down 1,904.63 Par Value Of F H L M C Mltcl Mt 2.77704% 8/25/27 Trade Date 9/25/22 3137FBAB2 09/26/22 Interest Earned On F H L M C Mltcl Mt 3.281% 8/25/27 $0.00273/Pv On 200,000.00 Pv Due 9/25/22 3137FBAJ5 09/26/22 Interest Earned On F H L M C Mltcl Mt 2.87496% 11/25/28 $0.00219/Pv On 142,107.63 Pv Due 9/25/22 3137FNAD2 09/26/22 Paid Down 465.11 Par Value Of F H L M C MItcl Mt 2.87496% 11/25/28 Trade Date 9/25/22 3137FNAD2 09/26/22 Interest Earned On F H L M C Mltcl Mt 2.258% 6/25/29 $0.00188/Pv On 187,578.01 Pv Due 9/25/22 3137FPJF3 474.83 460.84 326.96 546.83 311.57 352.96 74.76 - 76.74 1,904.63 -2,069.50 465.11 - 472.91 09/26/22 Paid Down 583.29 Par Value Of 583.29 - 586.80 F H L M C Mltcl Mt 2.258% 6/25/29 Trade Date 9/25/22 3137FPJF3 09/26/22 Interest Earned On F H L M C Mltcl Mt 2.21604% 7/25/29 $0.00186/Pv On 89,346.99 Pv Due 9/25/22 3137FPJP1 166.04 09/26/22 Paid Down 778.29 Par Value Of 778.29 - 816.48 F H L M C Mltcl Mt 2.21604% 7/25/29 Trade Date 9/25/22 3137FPJP1 230 embank 00- -M -PF-PC -274-01 00260201 2602 0455256-00-01445-01 Page 33 of 51 ACCOUNT NUMBER: 238302001 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SECOND LIEN REF BONDS 2021 C SERIES C SEC LIEN BDS RESERVE ACCT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Interest Earned On F H L M C Mltcl Mt 2.51196% 7/25/29 $0.00183/Pv On 187,902.66 Pv Due 9/25/22 3137FQ3Y7 09/26/22 Paid Down 485.55 Par Value Of F H L M C Mltcl Mt 2.51196% 7/25/29 Trade Date 9/25/22 3137FQ3Y7 09/26/22 Purchased 61,775.8 Units Of First Am Govt Ob Fd CI Y Trade Date 9/26/22 31846V203 09/26/22 Interest Earned On FNMA Gtd Remic 1.500% 9/25/27 $0.00125/Pv On 28,556.69 Pv Due 9/25/22 3136A8SX9 09/26/22 Paid Down 918.06 Par Value Of FNMA Gtd Remic 1.500% 9/25/27 Trade Date 9/25/22 3136A8SX9 09/26/22 Interest Earned On FNMA Gtd Remic 2.000% 11/25/42 $0.00167/Pv On 31,519.02 Pv Due 9/25/22 3136ABNZ2 342.92 35.70 52.53 485.55 - 486.80 -61,775.80 61,775.80 918.06 - 931.82 09/26/22 Paid Down 576.49 Par Value Of 576.49 - 586.43 FNMA Gtd Remic 2.000% 11/25/42 Trade Date 9/25/22 3136ABNZ2 09/26/22 Interest Earned On FNMA Gtd Remic 1.500% 4/25/23 $0.00125/Pv On 6,820.10 Pv Due 9/25/22 3136ADFF1 09/26/22 Paid Down 1,179.1 Par Value Of FNMA Gtd Remic 1.500% 4/25/23 Trade Date 9/25/22 3136ADFF1 09/26/22 Interest Earned On FNMA Gtd Remic 1.750% 7/25/28 $0.00146/Pv On 32,730.32 Pv Due 9/25/22 3136AEY84 09/26/22 Paid Down 745.31 Par Value Of FNMA Gtd Remic 1.750% 7/25/28 Trade Date 9/25/22 3136AEY84 09/26/22 Interest Earned On FNMA Gtd Remic 2.623% 4/25/23 $0.00224/Pv On 11,126.07 Pv Due 9/25/22 3136AHAEO 8.53 47.73 24.89 1,179.10 - 1,162.15 745.31 - 757.59 231 embank 00- -M -PF-PC -274-01 00260201 2602 0455256-00-01445-01 Page 34 of 51 ACCOUNT NUMBER: 238302001 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SECOND LIEN REF BONDS 2021 C SERIES C SEC LIEN BDS RESERVE ACCT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Paid Down 1.89 Par Value Of FNMA Gtd Remic 2.623% 4/25/23 Trade Date 9/25/22 3136AHAEO 09/26/22 Interest Earned On FNMA Gtd Remic 2.000% 11/25/31 $0.00167/Pv On 55,911.92 Pv Due 9/25/22 3136AQZK9 09/26/22 Paid Down 1,913.48 Par Value Of FNMA Gtd Remic 2.000% 11/25/31 Trade Date 9/25/22 3136AQZK9 09/26/22 Interest Earned On F H L M C Mltcl 0.826% 9/25/30 $0.00069/Pv On 177,519.43 Pv Due 9/25/22 3137FWHY9 09/26/22 Paid Down 1,035.48 Par Value Of F H L M C Mltcl 0.826% 9/25/30 Trade Date 9/25/22 3137FWHY9 09/26/22 Paid Down 176.83 Par Value Of FHLMC #Zs8585 3.000% 10/01/30 For Record Date Of August Due 9/25/22 August FHLMC Due 9/25/22 3132A9RE9 09/26/22 Interest Earned On FHLMC #Zs8585 3.000% 10/01/30 August FHLMC Due 9/25/22 3132A9RE9 09/26/22 Paid Down 1,743.53 Par Value Of FHLMC #Zs8673 3.000% 10/01/32 For Record Date Of August Due 9/25/22 August FHLMC Due 9/25/22 3132A9T64 09/26/22 Interest Earned On FHLMC #Zs8673 3.000% 10/01/32 August FHLMC Due 9/25/22 3132A9T64 09/26/22 Paid Down 1,395.43 Par Value Of FHLMC #Sc0096 3.000% 10/01/40 For Record Date Of August Due 9/25/22 August FHLMC Due 9/25/22 3132D9C93 09/26/22 Interest Earned On FHLMC #Sc0096 3.000% 10/01/40 August FHLMC Due 9/25/22 3132D9C93 93.19 122.25 23.43 214.17 381.39 1.89 - 1.90 1,913.48 - 1,965.31 1,035.48 - 1,030.30 176.83 - 174.34 1,743.53 - 1,816.87 1,395.43 - 1,479.67 232 embank 00- -M -PF-PC -274-01 00260201 2602 0455256-00-01445-01 Page 35 of 51 ACCOUNT NUMBER: 238302001 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SECOND LIEN REF BONDS 2021 C SERIES C SEC LIEN BDS RESERVE ACCT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Paid Down 229.9 Par Value Of FHLMC #Sb8505 2.500% 10/01/35 For Record Date Of August Due 9/25/22 August FHLMC Due 9/25/22 3132D6NW6 09/26/22 Interest Earned On FHLMC #Sb8505 2.500% 10/01/35 August FHLMC Due 9/25/22 3132D6NW6 33.85 229.90 - 221.17 09/26/22 Paid Down 30.43 Par Value Of 30.43 - 31.57 FNMA #811077 4.000% 12/01/28 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 3140HSFT3 09/26/22 Interest Earned On FNMA #811077 4.000% 12/01/28 August FNMA Due 9/25/22 3140HSFT3 09/26/22 Paid Down 3,835.02 Par Value Of FNMA #Bm1757 2.413% 4/01/23 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 3140J55T2 09/26/22 Interest Earned On FNMA #Bm1757 2.413% 4/01/23 August FNMA Due 9/25/22 3140J55T2 09/26/22 Paid Down 820.27 Par Value Of FNMA #Ma0293 4.500% 1/01/30 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 31417YKF3 09/26/22 Interest Earned On FNMA #Ma0293 4.500% 1/01/30 August FNMA Due 9/25/22 31417YKF3 09/26/22 Paid Down 343.56 Par Value Of FNMA #Ma4074 2.000% 6/01/35 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 31418DQ47 09/26/22 Interest Earned On FNMA #Ma4074 2.000% 6/01/35 August FHLMC Due 9/25/22 31418DQ47 09/26/22 Paid Down 587.34 Par Value Of FNMA #Ma4112 3.000% 8/01/35 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 31418DSA1 81.66 29.20 122.07 45.80 3,835.02 - 3,833.82 820.27 - 871.38 343.56 - 353.61 587.34 - 576.51 233 embank 00- -M -PF-PC -274-01 00260201 2602 0455256-00-01445-01 Page 36 of 51 ACCOUNT NUMBER: 238302001 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SECOND LIEN REF BONDS 2021 C SERIES C SEC LIEN BDS RESERVE ACCT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Interest Earned On FNMA #Ma4112 3.000% 8/01/35 August FNMA Due 9/25/22 31418DSA1 09/26/22 Paid Down 1,665.88 Par Value Of FNMA #Bm1978 3.000% 10/01/32 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 3140J6FU6 09/26/22 Interest Earned On FNMA #Bm1978 3.000% 10/01/32 August FNMA Due 9/25/22 3140J6FU6 09/26/22 Paid Down 2,012.21 Par Value Of FNMA #Ma4226 2.000% 12/01/30 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 31418DVU3 09/26/22 Interest Earned On FNMA #Ma4226 2.000% 12/01/30 August FNMA Due 9/25/22 31418DVU3 09/26/22 Paid Down 1,650.77 Par Value Of FNMA #Ma4279 2.000% 3/01/36 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 31418DXH0 09/26/22 Interest Earned On FNMA #Ma4279 2.000% 3/01/36 August FNMA Due 9/25/22 31418DXH0 09/26/22 Matured 971.4 Par Value Of F H L M C Mltcl Mtg 2.778% 9/25/22 Trade Date 9/25/22 971.4 Par Value At 100 % 3137B3NW4 09/26/22 Cash Disbursement Transfer To Principal 1 09/26/22 Cash Receipt Transfer From Income 1 09/26/22 Purchased 23,893.38 Units Of First Am Govt Ob Fd CI Y Trade Date 9/26/22 31846V203 86.83 173.89 222.08 261.81 - 2,061.00 1,665.88 - 1,757.77 2,012.21 - 2,088.72 1,650.77 - 1,705.78 971.40 - 1,092.73 2,061.00 - 23,893.38 23,893.38 234 embank 00- -M -PF-PC -274-01 00260201 2602 0455256-00-01445-01 Page 37 of 51 ACCOUNT NUMBER: 238302001 RIVERSIDE COUNTY TRANSPORTATION COMM TOLL REVENUE SECOND LIEN REF BONDS 2021 C SERIES C SEC LIEN BDS RESERVE ACCT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/27/22 Purchased 15,000 Par Value Of FNMA #109412 3.680% 8/01/28 Trade Date 9/22/22 Purchased Through Brean Capital LLC Swift External Ref#: 00954000002480A 15,000 Par Value At 96.34373333 313637N55 09/27/22 Paid Accrued Interest On Purchase Of FNMA #109412 3.680% 8/01/28 Income Debit 39.87- USD 313637N55 09/27/22 Cash Disbursement Transfer To Principal 1 09/27/22 Cash Receipt Transfer From Income 1 09/27/22 Sold 14,491.43 Units Of First Am Govt Ob Fd CI Y Trade Date 9/27/22 31846V203 09/30/22 Sold 75,471.55 Units Of First Am Govt Ob Fd CI Y Trade Date 9/30/22 31846V203 09/30/22 Purchased 75,000 Par Value Of U S Treasury Nt 0.325% 10/31/23 Trade Date 9/29/22 Purchased Through Nmrius33 Nomura Secs Intl Ny Swift External Ref#: 00954000002500A 75,000 Par Value At 100.13864 % 91282CDE8 09/30/22 Paid Accrued Interest On Purchase Of U S Treasury Nt 0.325% 10/31/23 Income Debit 367.57- USD 91282CDE8 - 39.87 - 3,936.42 - 367.57 - 14,451.56 14,451.56 3,936.42 14,491.43 - 14,491.43 75,471.55 - 75,471.55 - 75,103.98 75,103.98 Ending Balance 09/30/2022 - $367.57 $367.57 $7,649,377.08 235 ATTACHMENT 3 embank 00- -M -PF-PC -274-04 02353104 23531 0313205-00-01445-04 Page 3 of 58 ACCOUNT NUMBER: 240907004 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) PROJECT SALES TAX REVENUE This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc Cash Equivalents 450,000.000 Canadian Tire Corp Ltd Disc C P 10/11/2022 13668MK82 400,000.000 Continental Rubber Of America C P 10/03/2022 21201CK39 164,699.810 First American Government Oblig Fd CI Y #3763 31846V203 400,000.000 Natl Rural Util Coop C P 10/21/2022 63743DKM2 449,689.50 99.9310 400,000.00 100.0000 164,699.81 1.0000 399,380.00 99.8450 449,481.63 99.88 399,720.00 99.93 164,699.81 1.00 399,080.56 99.77 2.0 17,200.46 3.82 1.7 14,600.00 3.65 0.7 4,056.59 2.46 1.7 13,423.82 3.36 Total Cash Equivalents $1,413,769.31 $1,412,982.00 6.2 $49,280.87 US Government Issues 117,598.080 30,483.980 200,000.000 139,660.320 FNMA Partn Cert Pool #Am2182 2.160 01/01/2023 3138L2M87 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser K SO1 CI A2 2.522 01/25/2023 3137B1U75 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser Ksmc CI A2 2.615 01/25/2023 3137B04Y7 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser K029 CI A2 3.320 02/25/2023 3137B36J2 Standard & Poors Rating: N/A Moodys Rating: N/A 117,377.00 99.8120 30,379.12 99.6560 198,794.00 99.3970 139,151.96 99.6360 117,572.44 99.98 30,434.80 99.84 2.53 0.5 2,540.12 2.16 200,696.79 100.35 140,210.86 100.39 0.1 768.81 0.9 5,230.00 2.63 0.6 4,636.72 3.33 236 embank 00- -M -PF-PC -274-04 02353104 23531 0313205-00-01445-04 Page 4 of 58 ACCOUNT NUMBER: 240907004 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) PROJECT SALES TAX REVENUE This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 136,680.750 850,000.000 31,215.830 167,960.510 102,564.500 96,396.270 1,280,000.000 50,000.000 FHLMC Multiclass Mtg Partn C M 0 Ser K028 CI A2 3.111 02/25/2023 3137B2HN3 Standard & Poors Rating: N/A Moodys Rating: N/A U S Treasury Note 0.500 03/15/2023 912828ZD5 Standard & Poors Rating: N/A Moodys Rating: Aaa FNMA Partn Cert Pool#Bm1757 2.493 04/01/2023 3140J55T2 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser K030 CI A2 04/25/2023 Var 3137B3NA2 Standard & Poors Rating: N/A Moodys Rating: Aaa FHLMC Multiclass Mtg Partn C M 0 Ser K037 CI Al 2.592 04/25/2023 3137B7YX1 Standard & Poors Rating: AAA Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser K031 CI A2 3.300 04/25/2023 3137B3NX2 Standard & Poors Rating: N/A Moodys Rating: Aaa U S Treasury Note 0.125 05/15/2023 912828ZP8 Standard & Poors Rating: N/A Moodys Rating: Aaa FHLMC Multiclass Mtg Partn C M 0 Ser K034 CI A2 3.531 07/25/2023 3137B5JM6 Standard & Poors Rating: N/A Moodys Rating: N/A 136,224.24 99.6660 837,148.00 98.4880 136,959.09 100.20 851,500.82 100.18 0.6 4,252.14 3.12 3.7 4,250.00 .51 31,136.54 31,210.33 0.1 753.24 99.7460 99.98 2.42 167,174.45 99.5320 102,042.45 99.4910 95,707.04 99.2850 1,249,203.20 97.5940 49,608.00 99.2160 168,525.06 100.34 102,837.29 100.27 0.7 5,458.72 3.26 0.5 2,658.47 2.60 96,706.58 0.4 3,181.08 100.32 3.32 1,257,238.28 98.22 5.5 1,600.00 .13 50,690.42 0.2 1,765.50 101.38 3.56 237 embank 00- -M -PF-PC -274-04 02353104 23531 0313205-00-01445-04 Page 5 of 58 ACCOUNT NUMBER: 240907004 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) PROJECT SALES TAX REVENUE This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 475,000.000 247,932.690 229,389.030 725,000.000 1,725,000.000 25,541.390 106,065.320 250,000.000 U S Treasury Note 0.125 08/15/2023 91282CAF8 Standard & Poors Rating: N/A Moodys Rating: Aaa FHLMC Multiclass Mtg Partn C M 0 Ser K035 CI A2 08/25/2023 Var 3137B5KW2 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser K723 CI A2 2.454 08/25/2023 3137BSPW7 Standard & Poors Rating: N/A Moodys Rating: N/A U S Treasury Note 0.125 10/15/2023 91282CAP6 Standard & Poors Rating: N/A Moodys Rating: Aaa U S Treasury Note 10/31/2023 Var 91282CDE8 Standard & Poors Rating: N/A Moodys Rating: Aaa FNMA Partn Cert Pool #995265 5.500 01/01/2024 31416BTW8 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser K729 CI Al 2.951 02/25/2024 3137FCM35 Standard & Poors Rating: N/A Moodys Rating: Aaa Federal Home Loan Bks 3.625 02/28/2024 3130ASXL8 Standard & Poors Rating: AA+ Moodys Rating: Aaa 458,299.00 96.4840 245,793.03 99.1370 225,748.63 98.4130 694,470.25 95.7890 1,726,742.25 100.1010 458,504.88 96.53 246,857.66 99.57 229,870.36 100.21 698,124.02 96.29 1,727,603.04 100.15 2.0 593.75 .13 1.1 8,573.51 3.49 1.0 5,629.21 2.49 3.0 906.25 .13 7.5 5,606.25 .32 25,589.92 25,618.52 0.1 1,404.78 100.1900 100.30 5.49 105,337.71 99.3140 247,200.00 98.8800 106,242.29 100.17 250,000.00 100.00 0.5 3,129.99 2.97 1.1 9,062.50 3.67 238 embank 00- -M -PF-PC -274-04 02353104 23531 0313205-00-01445-04 Page 6 of 58 ACCOUNT NUMBER: 240907004 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) PROJECT SALES TAX REVENUE This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 132,650.640 84,505.340 250,000.000 40,763.830 250,000.000 300,000.000 81,794.540 82,524.830 FHLMC Multiclass Mtg Partn CMOSer G037CIJ 6.000 07/17/2024 3133T52K8 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser Ki05 CI A 07/25/2024 Var 3137FQXG3 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA 3.875 08/28/2024 3135G06W8 Standard & Poors Rating: AA+ Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser K046 CI Al 2.697 01/25/2025 3137BJP56 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMCMTN 4.000 02/28/2025 3134GXS88 Standard & Poors Rating: AA+ Moodys Rating: Aaa FHLMC Multiclass Mtg Partn C M 0 Ser Kplb CI A 2.770 05/25/2025 3137BJQ71 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser 3806 CI L 3.500 02/15/2026 3137A6YW6 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA GtdREMICPass Thru C M 0 Ser 2017 83 CI Vn 3.000 10/25/2037 3136AYEV1 Standard & Poors Rating: N/A Moodys Rating: N/A 133,312.57 100.4990 84,078.59 99.4950 247,677.50 99.0710 40,188.65 98.5890 247,162.50 98.8650 285,819.00 95.2730 80,778.65 98.7580 81,637.69 98.9250 135,614.87 102.23 0.6 7,959.04 5.97 84,505.34 0.4 2,359.70 100.00 2.81 249,962.50 99.99 1.1 9,687.50 3.91 41,222.59 0.2 1,099.40 101.13 2.74 250,000.00 100.00 312,529.49 104.18 1.1 10,000.00 4.05 1.3 8,309.88 2.91 82,481.95 0.4 2,862.81 100.84 3.54 82,202.47 0.4 2,475.74 99.61 3.03 239 embank 00- -M -PF-PC -274-04 02353104 23531 0313205-00-01445-04 Page 7 of 58 ACCOUNT NUMBER: 240907004 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) PROJECT SALES TAX REVENUE This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 147,600.810 41,922.710 20,466.300 FNMA GtdREMICPass Thru CMOSer 2013114CIZ 3.000 03/25/2040 3136AGP89 Standard & Poors Rating: N/A Moodys Rating: N/A GNMAGtdREMICPassThru C M 0 Ser 2013 47 CI Ec 1.500 12/20/2040 38378JZD7 Standard & Poors Rating: N/A Moodys Rating: N/A FNMAGtdREMICPassThru C M 0 Ser 2012 83 CI Pc 3.000 07/25/2041 3136A7D25 Standard & Poors Rating: N/A Moodys Rating: N/A 144,502.67 97.9010 41,008.38 97.8190 20,301.14 99.1930 148, 359.10 100.51 42,232.43 100.74 1.53 0.6 4,428.02 3.06 20,261.64 99.00 3.02 0.2 628.84 0.1 613.99 Total US Government Issues $8,289,594.13 $8,376,775.91 36.2 $122,425.96 Corporate Issues 300,000.000 85,000.000 625,000.000 225,000.000 Unitedhealth Group Inc 2.375 10/15/2022 91324PDD1 Standard & Poors Rating: A+ Moodys Rating: A3 Conocophillips Company 2.400 12/15/2022 20826FAA4 Standard & Poors Rating: A- Moodys Rating: A2 John Deere Capital Corp Medium Term Note 0.250 01/17/2023 24422EVM8 Standard & Poors Rating: A Moodys Rating: A2 Nextera Energy Cap 03/01/2023 Var 65339KBV1 Standard & Poors Rating: BBB+ Moodys Rating: Baal 299,781.00 99.9270 301,471.94 100.49 1.3 7,125.00 2.38 84,627.70 85,259.81 0.4 2,040.00 99.5620 100.31 2.41 617,531.25 98.8050 224,709.75 99.8710 624,781.25 99.97 225,000.00 100.00 2.7 1,562.50 .25 1.0 5,025.61 2.24 240 embank 00- -M -PF-PC -274-04 02353104 23531 0313205-00-01445-04 Page 8 of 58 ACCOUNT NUMBER: 240907004 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) PROJECT SALES TAX REVENUE This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 485,000.000 250,000.000 305,000.000 300,000.000 300,000.000 18,460.220 285,000.000 120,000.000 Centerpoint Energy Res Corp 0.700 03/02/2023 15189WAM2 Standard & Poors Rating: BBB+ Moodys Rating: A3 Truist Bank Medium Term Note 1.250 03/09/2023 89788JAB5 Standard & Poors Rating: A Moodys Rating: A2 Berkshire Hathaway Inc 2.750 03/15/2023 0846708R8 Standard & Poors Rating: AA Moodys Rating: Aa2 Capital One Financial Co 2.600 05/11/2023 14040HCD5 Standard & Poors Rating: BBB Moodys Rating: Baal Caterpillar Finl Service Medium Term Note 3.450 05/15/2023 14913Q2L2 Standard & Poors Rating: A Moodys Rating: A2 Daimler Trucks Retail Trust A B S Ser 2020 1 CI A3 1.220 09/15/2023 233854AC2 Standard & Poors Rating: N/A Moodys Rating: Aaa American Express Co Sr 0.750 11/03/2023 025816CK3 Standard & Poors Rating: BBB+ Moodys Rating: A2 Nextera Energy Cap Hldgs Inc 11/03/2023 Var 65339KBX7 Standard & Poors Rating: BBB+ Moodys Rating: Baal 476,076.00 98.1600 246,737.50 98.6950 303,349.95 99.4590 296,520.00 98.8400 298, 362.00 99.4540 18,418.68 99.7750 273,343.50 95.9100 118,894.80 99.0790 484,529.55 99.90 247,470.00 98.99 306,231.15 100.40 300,081.00 100.03 302,727.47 100.91 18,482.04 100.12 1.22 2.1 3,395.00 .71 1.1 3,125.00 1.27 1.3 8,387.50 2.76 1.3 7,800.00 2.63 1.3 10,350.00 3.47 284,971.50 99.99 120,000.00 100.00 0.1 225.21 1.2 2,137.50 .78 0.5 1,884.18 1.58 241 embank 00- -M -PF-PC -274-04 02353104 23531 0313205-00-01445-04 Page 9 of 58 ACCOUNT NUMBER: 240907004 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) PROJECT SALES TAX REVENUE This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc .010 Capital One Prime Auto 0.01 0.01 0.0 0.00 A B S Ser 2019 1 CI A3 100.0000 @ 100.00 .00 2.510 11/15/2023 14042WAC4 Standard & Poors Rating: AAA Moodys Rating: Aaa Date Last Priced: 09/16/22 172,054.830 330,000.000 120,000.000 500,000.000 450,000.000 310,000.000 70,424.960 Mercedes Benz Auto Lease A B S Ser 2020 B CI A3 0.400 11/15/2023 58769EAC2 Standard & Poors Rating: AAA Moodys Rating: N/A Goldman Sachs Group Inc 12/06/2023 Var 38141GZF4 Standard & Poors Rating: BBB+ Moodys Rating: A2 Simon Ppty Group L P 01/11/2024 Var 828807DR5 Standard & Poors Rating: A- Moodys Rating: A3 Bank Of America Corp Medium Term Note 4.125 01/22/2024 06051 GFBO Standard & Poors Rating: A- Moodys Rating: A2 Wells Fargo Company Medium Term Note 3.750 01/24/2024 95000U2C6 Standard & Poors Rating: BBB+ Moodys Rating: Al National Rural Util Coop Medium Term Note 0.350 02/08/2024 63743HEU2 Standard & Poors Rating: A- Moodys Rating: A2 Carmax Auto Owner Trust A B S Ser 2019 2 CI A3 2.680 03/15/2024 14316LAC7 Standard & Poors Rating: AAA Moodys Rating: N/A 171,165.31 99.4830 327,574.50 99.2650 119,041.20 99.2010 495,920.00 99.1840 442,980.00 98.4400 292,348.60 94.3060 172,202.00 100.09 330,000.00 100.00 120,000.00 100.00 524,809.28 104.96 468,753.74 104.17 306,648.90 98.92 0.8 688.22 .40 1.4 7,632.83 2.33 0.5 1,462.27 1.23 2.2 20,625.00 4.16 2.0 16,875.00 3.81 1.3 1,085.00 .37 70,390.45 70,744.55 0.3 1,887.39 99.9510 100.45 2.68 242 embank 00- -M -PF-PC -274-04 02353104 23531 0313205-00-01445-04 Page 10 of 58 ACCOUNT NUMBER: 240907004 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) PROJECT SALES TAX REVENUE This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 26,439.950 154,892.620 340,000.000 220,000.000 85,473.320 430,000.000 92,991.040 260,000.000 CNH Equipment Trust 26,374.38 26,437.88 0.1 60.81 A B S Ser 2021 A CI A2 99.7520 99.99 .23 03/15/2024 Var 12598AAB6 Standard & Poors Rating: AAA Moodys Rating: N/A Ford Credit Auto Owner Trust A B S Ser 2019 CI A3 1.870 03/15/2024 34531KAD4 Standard & Poors Rating: AAA Moodys Rating: Aaa Jpmorgan Chase Co 03/16/2024 Var 46647PCA2 Standard & Poors Rating: A- Moodys Rating: Al Southern Ca Edison Co 1M Gib! 2021C 24 04/01/2021 Var 842400HC0 Standard & Poors Rating: A- Moodys Rating: A3 Honda Auto Receivables A B S Ser 2020 1 CI A3 1.610 04/22/2024 43813RAC1 Standard & Poors Rating: N/A Moodys Rating: Aaa Morgan Stanley 3.737 04/24/2024 61744YAQ1 Standard & Poors Rating: A- Moodys Rating: Al 154,486.80 99.7380 337,562.20 99.2830 216, 581.20 98.4460 84,753.63 99.1580 425,489.30 98.9510 155,353.75 100.30 340,000.00 100.00 220,000.00 100.00 0.7 2,896.49 1.88 1.5 2,139.76 .63 1.0 6,595.27 3.04 85,125.15 0.4 1,376.12 99.59 1.62 443,013.17 103.03 1.9 16,069.10 3.78 Honda Auto Receivables Owner 92,561.42 92,061.13 0.4 762.53 A B S Ser 2020 2 CI A3 99.5380 99.00 .82 0.820 07/15/2024 43813DAC2 Standard & Poors Rating: AAA Moodys Rating: Aaa Salesforce Com Inc 0.625 07/15/2024 79466LAG9 Standard & Poors Rating: A+ Moodys Rating: A2 242,348.60 93.2110 259,867.40 99.95 1.1 1,625.00 .67 243 embank 00- -M -PF-PC -274-04 02353104 23531 0313205-00-01445-04 Page 11 of 58 ACCOUNT NUMBER: 240907004 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) PROJECT SALES TAX REVENUE This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 98,889.200 500,000.000 35,631.320 200,000.000 190,039.910 300,000.000 68,770.330 300,000.000 Carmax Auto Owner Trust A B S Ser 2019 3 CI A3 2.180 08/15/2024 14315PAD7 Standard & Poors Rating: AAA Moodys Rating: N/A Goldman Sachs Group Inc 0.925 10/21/2024 38141 GYL2 Standard & Poors Rating: BBB+ Moodys Rating: A2 Carmax Auto Owner Trust A B S Ser 2020 1 CI A3 1.890 12/16/2024 14315XAC2 Standard & Poors Rating: AAA Moodys Rating: N/A Chase Issuance Trust C M 0 Ser 2020 Al CI Al 1.530 01/15/2025 161571 H P2 Standard & Poors Rating: AAA Moodys Rating: N/R Toyota Auto Receivables A B S Ser 2020 D CI A3 0.350 01/15/2025 89236XAC0 Standard & Poors Rating: AAA Moodys Rating: N/A Gm Fin Cons Atmb Rec Tr 2019 A B S Ser 2019 4 CI B 2.040 02/18/2025 36258MAF1 Standard & Poors Rating: N/A Moodys Rating: Aaa 98,435.30 99.5410 474,575.00 94.9150 35,274.65 98.9990 198,756.00 99.3780 186,351.24 98.0590 294, 510.00 98.1700 99,448.53 0.4 2,155.78 100.57 2.19 500,000.00 100.00 2.1 4,625.00 .97 35,875.30 0.2 673.43 100.68 1.91 199,617.19 99.81 189,230.76 99.57 303,515.44 101.17 0.9 3,060.00 1.54 0.8 665.14 .36 1.3 6,120.00 2.08 Santander Drive Auto Receivables 68,649.98 68,480.20 0.3 343.85 A B S Ser 2021 1 CI B 99.8250 99.58 .50 0.500 04/15/2025 80286NAE6 Standard & Poors Rating: N/A Moodys Rating: Aaa American Express Credit Account A B S Ser 2017 7 CI A 2.350 05/15/2025 02582JHL7 Standard & Poors Rating: AAA Moodys Rating: N/A 299,910.00 99.9700 300,204.00 100.07 1.3 7,050.00 2.35 244 embank 00- -M -PF-PC -274-04 02353104 23531 0313205-00-01445-04 Page 12 of 58 ACCOUNT NUMBER: 240907004 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) PROJECT SALES TAX REVENUE This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 145,000.000 100,000.000 48,354.480 395,000.000 150,000.000 141,325.800 100,000.000 120,000.000 Carmax Auto Owner Trust ABSSer20222CIA2A 2.810 05/15/2025 14317HAB7 Standard & Poors Rating: AAA Moodys Rating: Aaa Citibank Credit Card Issuance Trust A B S Ser 2018 A3 CI A3 3.290 05/23/2025 17305EGM1 Standard & Poors Rating: AAA Moodys Rating: Aaa CNH Equipment Trust A B S Ser 2020 A CI A3 1.160 06/16/2025 12597PAC2 Standard & Poors Rating: AAA Moodys Rating: Aaa Ford Credit Mstr Tr A A B S Ser 2020 1 CI A2 09/15/2025 Var 34528QHL1 Standard & Poors Rating: N/A Moodys Rating: Aaa American Express Credit Account A B S Ser 2018 3 CI A 10/15/2025 Var 02582JHS2 Standard & Poors Rating: N/A Moodys Rating: Aaa Carmax Auto Owner Tr ABSSer20211 CIA3 12/15/2025 Var 14316NAC3 Standard & Poors Rating: AAA Moodys Rating: N/A Santander Drive Auto ABSSer 20211 CI C 0.750 02/17/2026 80286NAF3 Standard & Poors Rating: N/A Moodys Rating: Aaa Carmax Auto Owner Trust A B S Ser 2020 3 CI B 1.090 03/16/2026 14315FAF4 Standard & Poors Rating: AAA Moodys Rating: N/A 143,913.95 99.2510 99,325.00 99.3250 144,988.89 99.99 101,944.05 101.94 0.6 4,074.50 2.83 0.4 3,290.00 3.31 47,447.35 48,561.21 0.2 560.91 98.1240 100.43 1.18 394,470.70 99.8660 149,979.00 99.9860 136,755.32 96.7660 98,375.00 98.3750 113,401.20 94.5010 395,075.78 100.02 150,008.89 100.01 139,161.75 98.47 100,080.13 100.08 120,095.88 100.08 1.7 11,800.10 2.99 0.7 4,202.05 2.80 0.6 480.51 .35 0.4 750.00 .76 0.5 1,308.00 1.15 245 embank 00- -M -PF-PC -274-04 02353104 23531 0313205-00-01445-04 Page 13 of 58 ACCOUNT NUMBER: 240907004 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) PROJECT SALES TAX REVENUE This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 100,000.000 75,000.000 CNH Equipment Tr A B S Ser 2019 A CI B 3.340 07/15/2026 12596JAE3 Standard & Poors Rating: AAA Moodys Rating: Aaa CNH Equip Tr A B S Ser 2019 B CI B 2.870 11/16/2026 12596TAE1 Standard & Poors Rating: AAA Moodys Rating: N/A 99,582.00 99.5820 74,249.25 98.9990 100,440.77 100.44 0.4 3,340.00 3.35 75,101.06 0.3 2,152.50 100.13 2.90 Total Corporate Issues $9,771,890.67 $9,987,852.50 42.7 $191,490.06 Foreign Issues 410,000.000 Credit Suisse Ag New York 02/02/2024 Var 22550UAB7 Standard & Poors Rating: A Moodys Rating: A2 402,242.80 98.1080 410,000.00 100.00 1.8 10,930.60 2.72 Total Foreign Issues $402,242.80 $410,000.00 1.8 $10,930.60 Municipal Issues 250,000.000 150,000.000 135,000.000 Baltimore Md Var Pub Impt Bds 2003D 10/15/2022 Taxable Skg Var 059189QB9 Standard & Poors Rating: A-1+ Moodys Rating: VMIG 1 Michigan ST Bldg Auth Rev Ref Taxable Bds 2020 I 0.461 10/15/2022 Taxable 594615HN9 Standard & Poors Rating: N/A Moodys Rating: Aa2 San Antonio Tx Taxable Gen Impt Ref Bds 2020 0.478 02/01/2023 Taxable 79623PEN1 Standard & Poors Rating: AAA Moodys Rating: Aaa 250,000.00 100.0000 149,859.00 99.9060 133,682.40 99.0240 250,000.00 100.00 149,476.50 99.65 133,903.80 99.19 1.1 6,874.17 2.75 0.7 691.50 .46 0.6 645.30 .48 246 embank 00- -M -PF-PC -274-04 02353104 23531 0313205-00-01445-04 Page 14 of 58 ACCOUNT NUMBER: 240907004 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) PROJECT SALES TAX REVENUE This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 95,000.000 195,000.000 65,000.000 175,000.000 230,000.000 235,000.000 125,000.000 400,000.000 Riverside Cnty Calif Pension 0 Bds 2020 Ca 2.363 02/15/2023 Taxable 76913CAX7 Standard & Poors Rating: AA Moodys Rating: Al New York Ny Taxable Go Bds Fiscal 1.150 03/01/2023 Taxable 64966QJD3 Standard & Poors Rating: AA Moodys Rating: Aa2 Oregon ST Taxable Go Bds 2022 B 2.621 05/01/2023 Taxable 68609T7C6 Standard & Poors Rating: AA+ Moodys Rating: Aa1 Connecticut ST Taxable Go Bds 2022A 4.250 06/15/2023 Taxable 20772KQF9 Standard & Poors Rating: A+ Moodys Rating: Aa3 Port Auth N Y N J Taxable Consolidated Nts AAA Ny 1.086 07/01/2023 Taxable 73358W4V3 Standard & Poors Rating: AA- Moodys Rating: Aa3 Port Seattle Wa Rev Taxable Inter Lien Ref B 2022C 3.325 08/01/2023 Taxable 735389W46 Standard & Poors Rating: AA- Moodys Rating: Al New York ST Thruway Auth Ref Ser M 2.119 01/01/2024 Taxable 650009R88 Standard & Poors Rating: A Moodys Rating: Al Wisconsin Hsg Economic Dev A Home Ownership Rev Bds 2003 S 03/01/2028 Var Taxable Skg 97689PP93 Standard & Poors Rating: A-1+ Moodys Rating: VMIG 1 94,318.85 99.2830 192,856.95 98.9010 64,501.45 99.2330 174,639.50 99.7940 224,213.20 97.4840 233,096.50 99.1900 121,555.00 97.2440 400,000.00 100.0000 94,724.50 0.4 2,244.85 99.71 2.38 192,365.55 98.65 0.8 2,242.50 1.16 65,000.00 0.3 1,703.65 100.00 2.64 177,339.75 101.34 227,936.40 99.10 235,000.00 100.00 122,370.00 97.90 400,000.00 100.00 0.8 7,437.50 4.26 1.0 2,497.80 1.11 1.0 7,813.75 3.35 0.5 2,648.75 2.18 1.8 4,463.04 1.12 247 embank 00- -M -PF-PC -274-04 02353104 23531 0313205-00-01445-04 Page 15 of 58 ACCOUNT NUMBER: 240907004 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) PROJECT SALES TAX REVENUE This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 160,000.000 300,000.000 200,000.000 300,000.000 Colorado Hsg Fin Auth Taxable Single Family Mt 2017 B 05/01/2034 Skg Taxable Var 196479A33 Standard & Poors Rating: A-1+ Moodys Rating: VMIG 1 New York ST Hsg Fin Agy Rev Var Rev Bds 2004B 11/15/2036 Var Taxable 64986MJ63 Standard & Poors Rating: N/A Moodys Rating: VMIG 1 Wisconsin Hsg Economic Dev Auth Home Ownership Rev Rev Bds 2007 D 03/01/2038 Var Taxable Skg 97689P5F1 Standard & Poors Rating: A-1 Moodys Rating: VMIG 1 Texas ST Taxable Go Bds 2005 B 06/01/2045 Var Taxable 882721BN2 Standard & Poors Rating: A-1+ Moodys Rating: VMIG 1 160,000.00 100.0000 300,000.00 100.0000 200,000.00 100.0000 300,000.00 100.0000 160,000.00 100.00 300,000.00 100.00 200,000.00 100.00 300,000.00 100.00 0.7 3,728.00 2.33 1.3 7,011.30 2.34 0.9 160.00 .08 1.3 8,345.00 2.78 Total Municipal Issues $2,998,722.85 $3,008,116.50 13.1 $58,507.11 Cash Principal Cash Income Cash 5,023.42 5,023.42 - 5,023.42 - 5,023.42 Total Cash $0.00 $0.00 0.0 Total Assets $22,876,219.76 $23,195,726.91 100.0 $432,634.60 248 embank 00- -M -PF-PC -274-04 02353104 23531 0313205-00-01445-04 Page 18 of 58 ACCOUNT NUMBER: 240907004 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) PROJECT SALES TAX REVENUE This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL Date Income Principal Tax Posted Description Cash Cash Cost Beginning Balance 09/01/2022 - $1,172.00 09/01/22 Interest Earned On Wisconsin Hsg 0.080% 3/01/38 0.005998 USD/$1 Pv On 200,000 Par Value Due 9/1/22 97689P5F1 09/01/22 Interest Earned On Wisconsin Hsg 2.380% 3/01/28 0.005625 USD/$1 Pv On 400,000 Par Value Due 9/1/22 97689PP93 1,199.61 2,249.86 $1,172.00 $23,165,987.40 09/01/22 Purchased 3,449.47 Units Of - 3,449.47 3,449.47 First Am Govt Ob Fd CI Y Trade Date 9/1/22 31846V203 09/01/22 Amortized Premium On Virginia El Pwr 3.450% 9/01/22 Fed Basis Decreased By 9,916.07 USD To 750,000.00 USD 9/1/22 Current Year Amortization 927804FJ8 09/01/22 Matured 750,000 Par Value Of Virginia El Pwr 3.450% 9/01/22 Trade Date 9/1/22 750,000 Par Value At 100 % 927804FJ8 09/01/22 Interest Earned On New York Ny 1.150% 3/01/23 0.00575 USD/$1 Pv On 195,000 Par Value Due 9/1/22 64966QJD3 09/01/22 Interest Earned On Nextera Energy Cap 2.23361% 3/01/23 0.005708 USD/$1 Pv On 225,000 Par Value Due 9/1/22 65339KBV1 09/01/22 Interest Earned On Texas ST Taxable 2.36774% 6/01/45 0.002011 USD/$1 Pv On 300,000 Par Value Due 9/1/22 882721 BN2 09/01/22 Interest Earned On Virginia El Pwr 3.450% 9/01/22 0.01725 USD/$1 Pv On 750,000 Par Value Due 9/1/22 927804FJ8 09/01/22 Cash Disbursement Transfer To Principal Income Earnings 09/01/22 Cash Receipt Transfer From Income Income Earnings 1,121.25 1,284.32 603.29 12,937.50 - 14,774.36 - 9,916.07 750,000.00 - 750,000.00 14,774.36 249 embank 00- -M -PF-PC -274-04 02353104 23531 0313205-00-01445-04 Page 19 of 58 ACCOUNT NUMBER: 240907004 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) PROJECT SALES TAX REVENUE This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/01/22 Purchased 765,946.36 Units Of First Am Govt Ob Fd CI Y Trade Date 9/1/22 31846V203 09/01/22 Interest Earned On First Am Govt Ob Fd CI Y Interest From 8/1/22 To 8/31/22 31846V203 09/02/22 Sold 250,015.89 Units Of First Am Govt Ob Fd CI Y Trade Date 9/2/22 31846V203 09/02/22 Interest Earned On Centerpoint Energy 0.700% 3/02/23 0.0035 USD/$1 Pv On 485,000 Par Value Due 9/2/22 15189WAM2 09/02/22 Cash Disbursement Transfer To Principal Income Earnings 09/02/22 Cash Receipt Transfer From Income Income Earnings 09/02/22 Purchased 2,496.4 Units Of First Am Govt Ob Fd CI Y Trade Date 9/2/22 31846V203 09/02/22 Purchased 250,000 Par Value Of Baltimore Md Var 2.320% 10/15/22 Trade Date 9/2/22 Purchased Through Citigroup Global Markets Inc Swift External Ref#: 00613000020810B 250,000 Par Value At 100 059189QB9 09/02/22 Paid Accrued Interest On Purchase Of Baltimore Md Var 2.320% 10/15/22 Income Debit 15.89- USD 059189QB9 09/06/22 Interest Earned On Goldman Sachs Grou 2.31298% 12/06/23 0.005911 USD/$1 Pv On 330,000 Par Value Due 9/6/22 38141GZF4 09/06/22 Cash Disbursement Transfer To Principal Income Earnings 09/06/22 Cash Receipt Transfer From Income Income Earnings 798.90 1,697.50 - 5,945.87 - 15.89 1,950.61 - 1,934.72 - 765,946.36 765,946.36 250,015.89 - 250,015.89 5,945.87 - 2,496.40 2,496.40 - 250,000.00 250,000.00 1,934.72 250 embank 00- -M -PF-PC -274-04 02353104 23531 0313205-00-01445-04 Page 20 of 58 ACCOUNT NUMBER: 240907004 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) PROJECT SALES TAX REVENUE This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/06/22 Purchased 1,950.61 Units Of First Am Govt Ob Fd CI Y Trade Date 9/6/22 31846V203 09/07/22 Sold 774,446.98 Units Of First Am Govt Ob Fd CI Y Trade Date 9/7/22 31846V203 09/07/22 Matured 350,000 Par Value Of Koch Inds Inc Disc Coml C P 9/07/22 Trade Date 9/7/22 350,000 Par Value At 100 % 50000EJ70 09/07/22 Interest Earned On Koch Inds Inc Disc Coml C P 9/07/22 350,000 Par Value At 100 % 50000EJ70 09/07/22 Cash Disbursement Transfer To Principal Income Earnings 09/07/22 Cash Receipt Transfer From Income Income Earnings 09/07/22 Purchased 350,000 Units Of First Am Govt Ob Fd CI Y Trade Date 9/7/22 31846V203 09/07/22 Purchased 375,000 Par Value Of Canadian Tire Corp Ltd C P 9/20/22 Trade Date 9/7/22 Purchased Through Rbc Capital Markets, LLC Swift External Ref#: 00613000020850A 375,000 Par Value At 99.901416 % 13668MJL2 09/07/22 Purchased 400,000 Par Value Of Continental Rubr Amer C P 9/13/22 Trade Date 9/7/22 Purchased Through BofA Securities, Inc./Fxd Inc Swift External Ref#: 00613000020840A 400,000 Par Value At 99.9541675 % 21201CJD9 09/09/22 Interest Earned On Truist Bank Mtn 1.250% 3/09/23 0.00625 USD/$1 Pv On 250,000 Par Value Due 9/9/22 89788JAB5 09/09/22 Cash Disbursement Transfer To Principal Income Earnings 09/09/22 Cash Receipt Transfer From Income Income Earnings 750.75 - 750.75 1,562.50 - 1,371.55 - 1,950.61 774,446.98 349,249.25 750.75 1,950.61 - 774,446.98 - 349,249.25 - 350,000.00 350,000.00 - 374,630.31 374,630.31 - 399,816.67 399,816.67 1,371.55 251 embank 00- -M -PF-PC -274-04 02353104 23531 0313205-00-01445-04 Page 21 of 58 ACCOUNT NUMBER: 240907004 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) PROJECT SALES TAX REVENUE This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/09/22 Sold 246,040.16 Units Of First Am Govt Ob Fd CI Y Trade Date 9/9/22 31846V203 09/13/22 Sold 349,595.56 Units Of First Am Govt Ob Fd CI Y Trade Date 9/13/22 31846V203 09/13/22 Matured 400,000 Par Value Of Continental Rubr Amer C P 9/13/22 Trade Date 9/13/22 400,000 Par Value At 100 21201CJD9 09/13/22 Interest Earned On Continental Rubr Amer C P 9/13/22 400,000 Par Value At 100 % 21201CJD9 09/13/22 Cash Disbursement Transfer To Principal Income Earnings 09/13/22 Cash Receipt Transfer From Income Income Earnings 09/13/22 Purchased 400,000 Units Of First Am Govt Ob Fd CI Y Trade Date 9/13/22 31846V203 09/13/22 Purchased 350,000 Par Value Of National Fuel Gas Co C P 9/26/22 Trade Date 9/13/22 Purchased Through BofA Securities, Inc./Fxd Inc Swift External Ref#: 00613000020870A 350,000 Par Value At 99.88444571 % 63616KJS9 09/15/22 Amortized Premium On Capital One Prime 2.510% 11/15/23 Fed Basis Decreased By 1.85 USD To 4,820.41 USD 9/15/22 Current Year Amortization 14042WAC4 09/15/22 Interest Earned On Capital One Prime 2.510% 11/15/23 $0.00209/Pv On 4,807.47 Pv Due 9/15/22 14042WAC4 09/15/22 Paid Down 4,807.47 Par Value Of Capital One Prime 2.510% 11/15/23 Princ/Int Due 14042WAC4 183.33 - 183.33 10.07 246,040.16 349,595.56 399, 816.67 183.33 - 246,040.16 - 349,595.56 - 399,816.67 - 400,000.00 400,000.00 - 349,595.56 349,595.56 - 1.85 4,807.47 - 4,820.41 252 embank 00- -M -PF-PC -274-04 02353104 23531 0313205-00-01445-04 Page 22 of 58 ACCOUNT NUMBER: 240907004 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) PROJECT SALES TAX REVENUE This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/15/22 Paid Down 100,000 Par Value Of American Express 2.000% 4/15/25 Cmo Final Paydown 02582JJM3 09/15/22 Paid Down 155,000 Par Value Of American Express 2.000% 4/15/25 Cmo Final Paydown 02582JJN1 09/15/22 Paid Down 200,000 Par Value Of Ford Credit 3.0907% 9/15/24 Cmo Final Paydown 34528QHB3 09/15/22 Paid Down 987.24 Par Value Of World Omni 1.700% 1/15/23 Cmo Final Paydown 98162HAC4 09/15/22 Interest Earned On CNH Equipment Trust 1.160% 6/16/25 $0.00097/Pv On 50,271.31 Pv Due 9/15/22 12597PAC2 09/15/22 Amortized Premium On CNH Equipment Trust 1.160% 6/16/25 Fed Basis Decreased By 15.94 USD To 50,486.24 USD 9/15/22 Current Year Amortization 12597PAC2 09/15/22 Paid Down 1,916.83 Par Value Of CNH Equipment Trust 1.160% 6/16/25 Trade Date 9/15/22 12597PAC2 09/15/22 Interest Earned On CNH Equipment 0.230% 3/15/24 $0.00019/Pv On 40,670.61 Pv Due 9/15/22 12598AAB6 09/15/22 Paid Down 14,230.66 Par Value Of CNH Equipment 0.230% 3/15/24 Trade Date 9/15/22 12598AAB6 09/15/22 Interest Earned On Santander Drive Auto 0.500% 4/15/25 $0.00042/Pv On 128,656.29 Pv Due 9/15/22 80286NAE6 09/15/22 Paid Down 59,885.96 Par Value Of Santander Drive Auto 0.500% 4/15/25 Trade Date 9/15/22 80286NAE6 09/15/22 Interest Earned On Santander Drive 0.750% 2/17/26 $0.00063/Pv On 100,000.00 Pv Due 9/15/22 80286NAF3 48.60 7.80 53.61 62.51 100,000.00 155,000.00 200,000.00 987.24 - 100,680.59 - 155,164.47 - 200,033.02 - 989.54 - 15.94 1,916.83 - 1,925.03 14,230.66 - 14,229.55 59,885.96 - 59,633.32 253 embank 00- -M -PF-PC -274-04 02353104 23531 0313205-00-01445-04 Page 23 of 58 ACCOUNT NUMBER: 240907004 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) PROJECT SALES TAX REVENUE This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/15/22 Amortized Premium On Santander Drive 0.750% 2/17/26 Fed Basis Decreased By 4.04 USD To 100,080.13 USD 9/15/22 Current Year Amortization 80286NAF3 09/15/22 Interest Earned On Toyota Auto 0.350% 1/15/25 $0.00029/Pv On 208,703.88 Pv Due 9/15/22 89236XAC0 09/15/22 Paid Down 18,663.97 Par Value Of Toyota Auto 0.350% 1/15/25 Trade Date 9/15/22 89236XAC0 09/15/22 Purchased 555,735.59 Units Of First Am Govt Ob Fd CI Y Trade Date 9/15/22 31846V203 09/15/22 Interest Earned On F H L M C Mltcl Mtg 3.500% 2/15/26 $0.00292/Pv On 85,260.84 Pv Due 9/15/22 3137A6YW6 09/15/22 Amortized Premium On F H L M C Mltcl Mtg 3.500% 2/15/26 Fed Basis Decreased By 37.02 USD To 85,977.38 USD 9/15/22 Current Year Amortization 3137A6YW6 60.87 248.68 - 4.04 18,663.97 - 18,584.50 - 555,735.59 555,735.59 - 37.02 09/15/22 Paid Down 3,466.3 Par Value Of 3,466.30 - 3,495.43 F H L M C Mltcl Mtg 3.500% 2/15/26 Trade Date 9/15/22 3137A6YW6 09/15/22 Interest Earned On American Express 2.350% 5/15/25 $0.00196/Pv On 300,000.00 Pv Due 9/15/22 02582JHL7 587.50 09/15/22 Amortized Premium On American Express 2.350% 5/15/25 Fed Basis Decreased By 107.18 USD To 300,204.00 USD 9/15/22 Current Year Amortization 02582JHL7 09/15/22 Interest Earned On American Express 2.80137% 10/15/25 $0.00233/Pv On 150,000.00 Pv Due 9/15/22 02582JHS2 350.17 09/15/22 Amortized Premium On American Express 2.80137% 10/15/25 Fed Basis Decreased By 4.59 USD To 150,008.89 USD 9/15/22 Current Year Amortization 02582JHS2 - 107.18 - 4.59 254 embank 00- -M -PF-PC -274-04 02353104 23531 0313205-00-01445-04 Page 24 of 58 ACCOUNT NUMBER: 240907004 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) PROJECT SALES TAX REVENUE This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/15/22 Interest Earned On American Express 2.000% 4/15/25 $0.00167/Pv On 100,000.00 Pv Due 9/15/22 02582JJM3 166.67 09/15/22 Amortized Premium On American Express 2.000% 4/15/25 Fed Basis Decreased By 28.36 USD To 100,680.59 USD 9/15/22 Current Year Amortization 02582JJM3 09/15/22 Interest Earned On American Express 2.000% 4/15/25 $0.00183/Pv On 155,000.00 Pv Due 9/15/22 02582JJN1 284.17 09/15/22 Amortized Premium On American Express 2.000% 4/15/25 Fed Basis Decreased By 6.85 USD To 155,164.47 USD 9/15/22 Current Year Amortization 02582JJN1 09/15/22 Interest Earned On CNH Equipment Tr 3.340% 7/15/26 $0.00278/Pv On 100,000.00 Pv Due 9/15/22 12596JAE3 278.33 09/15/22 Amortized Premium On CNH Equipment Tr 3.340% 7/15/26 Fed Basis Decreased By 24.84 USD To 100,440.77 USD 9/15/22 Current Year Amortization 12596JAE3 09/15/22 Interest Earned On CNH Equip Tr 2.870% 11/16/26 $0.00239/Pv On 75,000.00 Pv Due 9/15/22 12596TAE1 09/15/22 Amortized Premium On CNH Equip Tr 2.870% 11/16/26 Fed Basis Decreased By 5.36 USD To 75,101.06 USD 9/15/22 Current Year Amortization 12596TAE1 09/15/22 Interest Earned On Carmax Auto Owner 1.090% 3/16/26 $0.00091/Pv On 120,000.00 Pv Due 9/15/22 14315FAF4 179.37 109.00 09/15/22 Amortized Premium On Carmax Auto Owner 1.090% 3/16/26 Fed Basis Decreased By 4.67 USD To 120,095.88 USD 9/15/22 Current Year Amortization 14315FAF4 - 28.36 - 6.85 - 24.84 - 5.36 - 4.67 255 embank 00- -M -PF-PC -274-04 02353104 23531 0313205-00-01445-04 Page 25 of 58 ACCOUNT NUMBER: 240907004 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) PROJECT SALES TAX REVENUE This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/15/22 Amortized Premium On Carmax Auto Owner 2.180% 8/15/24 Fed Basis Decreased By 57.01 USD To 115,099.59 USD 9/15/22 Current Year Amortization 14315PAD7 09/15/22 Interest Earned On Carmax Auto Owner 2.180% 8/15/24 $0.00182/Pv On 114,452.23 Pv Due 9/15/22 14315PAD7 09/15/22 Paid Down 15,563.03 Par Value Of Carmax Auto Owner 2.180% 8/15/24 Trade Date 9/15/22 14315PAD7 09/15/22 Interest Earned On Carmax Auto Owner 1.890% 12/16/24 $0.00158/Pv On 39,231.32 Pv Due 9/15/22 14315XAC2 09/15/22 Amortized Premium On Carmax Auto Owner 1.890% 12/16/24 Fed Basis Decreased By 20.21 USD To 39,499.95 USD 9/15/22 Current Year Amortization 14315XAC2 09/15/22 Paid Down 3,600 Par Value Of Carmax Auto Owner 1.890% 12/16/24 Trade Date 9/15/22 14315XAC2 09/15/22 Amortized Premium On Carmax Auto Owner 2.680% 3/15/24 Fed Basis Decreased By 52.37 USD To 103,212.62 USD 9/15/22 Current Year Amortization 14316LAC7 09/15/22 Interest Earned On Carmax Auto Owner 2.680% 3/15/24 $0.00223/Pv On 102,746.34 Pv Due 9/15/22 14316LAC7 09/15/22 Paid Down 32,321.38 Par Value Of Carmax Auto Owner 2.680% 3/15/24 Trade Date 9/15/22 14316LAC7 09/15/22 Interest Earned On Carmax Auto Owner 0.340% 12/15/25 $0.00028/Pv On 150,070.24 Pv Due 9/15/22 14316NAC3 09/15/22 Paid Down 8,744.44 Par Value Of Carmax Auto Owner 0.340% 12/15/25 Trade Date 9/15/22 14316NAC3 207.93 61.79 229.47 42.52 - 57.01 15,563.03 - 15,651.06 - 20.21 3,600.00 - 3,624.65 - 52.37 32,321.38 - 32,468.07 8,744.44 - 8,610.54 256 embank 00- -M -PF-PC -274-04 02353104 23531 0313205-00-01445-04 Page 26 of 58 ACCOUNT NUMBER: 240907004 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) PROJECT SALES TAX REVENUE This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/15/22 Interest Earned On Carmax Auto Owner 2.810% 5/15/25 $0.00234/Pv On 145,000.00 Pv Due 9/15/22 14317HAB7 09/15/22 Interest Earned On Chase Issuance Trust 1.530% 1/15/25 $0.00128/Pv On 200,000.00 Pv Due 9/15/22 161571 H P2 09/15/22 Interest Earned On Daimler Trucks 1.220% 9/15/23 $0.00102/Pv On 26,970.95 Pv Due 9/15/22 233854AC2 09/15/22 Amortized Premium On Daimler Trucks 1.220% 9/15/23 Fed Basis Decreased By 5.49 USD To 27,002.83 USD 9/15/22 Current Year Amortization 233854AC2 09/15/22 Paid Down 8,510.73 Par Value Of Daimler Trucks 1.220% 9/15/23 Trade Date 9/15/22 233854AC2 09/15/22 Interest Earned On Ford Credit 3.0907% 9/15/24 $0.00258/Pv On 200,000.00 Pv Due 9/15/22 34528QHB3 339.54 255.00 27.42 515.12 09/15/22 Amortized Premium On Ford Credit 3.0907% 9/15/24 Fed Basis Decreased By 11.01 USD To 200,033.02 USD 9/15/22 Current Year Amortization 34528QHB3 09/15/22 Interest Earned On Ford Credit Mstr 2.98737% 9/15/25 $0.00249/Pv On 395,000.00 Pv Due 9/15/22 34528QHL1 983.34 09/15/22 Amortized Premium On Ford Credit Mstr 2.98737% 9/15/25 Fed Basis Decreased By 28.65 USD To 395,075.78 USD 9/15/22 Current Year Amortization 34528QHL1 09/15/22 Interest Earned On Ford Credit Auto 1.870% 3/15/24 $0.00156/Pv On 196,432.14 Pv Due 9/15/22 34531 KAD4 306.11 09/15/22 Amortized Premium On Ford Credit Auto 1.870% 3/15/24 Fed Basis Decreased By 65.92 USD To 197,016.94 USD 9/15/22 Current Year Amortization 34531 KAD4 - 5.49 8,510.73 - 8,520.79 - 11.01 - 28.65 - 65.92 257 . 'Z.: embank 00- -M -PF-PC -274-04 02353104 23531 0313205-00-01445-04 Page 27 of 58 ACCOUNT NUMBER: 240907004 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) PROJECT SALES TAX REVENUE This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/15/22 Paid Down 41,539.52 Par Value Of Ford Credit Auto 1.870% 3/15/24 Trade Date 9/15/22 34531 KAD4 09/15/22 Interest Earned On Honda Auto 0.820% 7/15/24 $0.00068/Pv On 102,987.84 Pv Due 9/15/22 43813DAC2 09/15/22 Paid Down 9,996.8 Par Value Of Honda Auto 0.820% 7/15/24 Trade Date 9/15/22 43813DAC2 09/15/22 Amortized Premium On Mercedes Benz Auto 0.400% 11/15/23 Fed Basis Decreased By 12.86 USD To 206,691.26 USD 9/15/22 Current Year Amortization 58769EAC2 09/15/22 Interest Earned On Mercedes Benz Auto 0.400% 11/15/23 $0.00033/Pv On 206,514.61 Pv Due 9/15/22 58769EAC2 09/15/22 Paid Down 34,459.78 Par Value Of Mercedes Benz Auto 0.400% 11/15/23 Trade Date 9/15/22 58769EAC2 09/15/22 Interest Earned On World Omni 1.700% 1/15/23 $0.00142/Pv On 987.24 Pv Due 9/15/22 98162HAC4 09/15/22 Amortized Premium On World Omni 1.700% 1/15/23 Fed Basis Decreased By 0.59 USD To 989.54 USD 9/15/22 Current Year Amortization 98162HAC4 09/15/22 Interest Earned On Berkshire Hathaway 2.750% 3/15/23 0.01375 USD/$1 Pv On 305,000 Par Value Due 9/15/22 084670BR8 09/15/22 Amortized Premium On Berkshire Hathaway 2.750% 3/15/23 Fed Basis Decreased By 1,829.69 USD To 306,231.15 USD 9/15/22 Current Year Amortization 084670BR8 09/15/22 Interest Earned On New York ST Hsg 2.3371% 11/15/36 0.001985 USD/$1 Pv On 300,000 Par Value Due 9/15/22 64986MJ63 70.37 68.83 1.40 4,193.75 595.48 41,539.52 - 41,663.19 9,996.80 - 9,896.83 - 12.86 34,459.78 - 34,489.26 - 0.59 - 1,829.69 258 embank 00- -M -PF-PC -274-04 02353104 23531 0313205-00-01445-04 Page 28 of 58 ACCOUNT NUMBER: 240907004 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) PROJECT SALES TAX REVENUE This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/15/22 Interest Earned On U S Treasury Nt 0.500% 3/15/23 0.0025 USD/$1 Pv On 850,000 Par Value Due 9/15/22 912828ZD5 09/15/22 Amortized Premium On U S Treasury Nt 0.500% 3/15/23 Fed Basis Decreased By 1,499.73 USD To 851,500.82 USD 9/15/22 Current Year Amortization 912828ZD5 09/15/22 Cash Disbursement Transfer To Principal Income Earnings 09/15/22 Cash Receipt Transfer From Income Income Earnings 09/15/22 Purchased 170,428.94 Units Of First Am Govt Ob Fd CI Y Trade Date 9/15/22 31846V203 09/16/22 Interest Earned On Gm Fin Cons Atmb 2.040% 2/18/25 $0.00170/Pv On 300,000.00 Pv Due 9/16/22 36258MAF1 09/16/22 Amortized Premium On Gm Fin Cons Atmb 2.040% 2/18/25 Fed Basis Decreased By 246.00 USD To 303,515.44 USD 9/16/22 Current Year Amortization 36258MAF1 09/16/22 Purchased 510 Units Of First Am Govt Ob Fd CI Y Trade Date 9/16/22 31846V203 09/16/22 Interest Earned On Jpmorgan Chase Co 0.62934% 3/16/24 0.006335 USD/$1 Pv On 340,000 Par Value Due 9/16/22 46647PCA2 09/16/22 Cash Disbursement Transfer To Principal Income Earnings 09/16/22 Cash Receipt Transfer From Income Income Earnings 09/16/22 Purchased 2,153.73 Units Of First Am Govt Ob Fd CI Y Trade Date 9/16/22 31846V203 2,125.00 - 12,226.96 510.00 2,153.73 - 2,397.19 - 1,499.73 12,226.96 - 170,428.94 170,428.94 - 246.00 - 510.00 510.00 2,397.19 - 2,153.73 2,153.73 259 embank 00- -M -PF-PC -274-04 02353104 23531 0313205-00-01445-04 Page 29 of 58 ACCOUNT NUMBER: 240907004 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) PROJECT SALES TAX REVENUE This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/19/22 Received 0.01 Par Value Of Capital One Prime 2.510% 11/15/23 Market Value Of 0.01 USD Position Still Held Per Dtcc 14042WAC4 09/19/22 Sold 499,816.67 Units Of First Am Govt Ob Fd CI Y Trade Date 9/19/22 31846V203 09/19/22 Cash Disbursement Transfer To Principal Income Earnings 09/19/22 Cash Receipt Transfer From Income Income Earnings 09/19/22 Purchased 500,000 Par Value Of L3Harris Technologies C P 9/23/22 Trade Date 9/19/22 Purchased Through Wells Fargo Securities, LLC Swift External Ref#: 00613000020980A 500,000 Par Value At 99.963334 % 50246YJP0 09/20/22 Interest Earned On G N M A Gtd Remic 1.500% 12/20/40 $0.00125/Pv On 43,743.90 Pv Due 9/20/22 38378JZD7 09/20/22 Amortized Premium On G N M A Gtd Remic 1.500% 12/20/40 Fed Basis Decreased By 5.38 USD To 44,067.07 USD 9/20/22 Current Year Amortization 38378JZD7 09/20/22 Paid Down 1,821.19 Par Value Of G N M A Gtd Remic 1.500% 12/20/40 Trade Date 9/20/22 38378JZD7 09/20/22 Matured 375,000 Par Value Of Canadian Tire Corp Ltd C P 9/20/22 Trade Date 9/20/22 375,000 Par Value At 100 13668MJL2 09/20/22 Interest Earned On Canadian Tire Corp Ltd C P 9/20/22 375,000 Par Value At 100 % 13668MJL2 09/20/22 Cash Disbursement Transfer To Principal Income Earnings 09/20/22 Cash Receipt Transfer From Income Income Earnings - 510.00 54.68 369.69 - 424.37 0.01 499,816.67 - 499,816.67 510.00 - 499,816.67 499,816.67 - 5.38 1,821.19 - 1,834.64 374,630.31 - 374,630.31 424.37 260 embank 00- -M -PF-PC -274-04 02353104 23531 0313205-00-01445-04 Page 30 of 58 ACCOUNT NUMBER: 240907004 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) PROJECT SALES TAX REVENUE This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/20/22 Purchased 376,875.87 Units Of First Am Govt Ob Fd CI Y Trade Date 9/20/22 31846V203 09/21/22 Interest Earned On F H L M C Mltcl Mtg 6.000% 7/17/24 $0.00500/Pv On 144,441.27 Pv Due 9/17/22 3133T52K8 09/21/22 Amortized Premium On F H L M C Mltcl Mtg 6.000% 7/17/24 Fed Basis Decreased By 302.29 USD To 147,668.97 USD 9/17/22 Current Year Amortization 3133T52K8 09/21/22 Paid Down 11,790.63 Par Value Of F H L M C Mltcl Mtg 6.000% 7/17/24 Trade Date 9/17/22 3133T52K8 09/21/22 Interest Earned On Honda Auto 1.610% 4/22/24 $0.00134/Pv On 96,866.95 Pv Due 9/21/22 43813RAC1 09/21/22 Paid Down 11,393.63 Par Value Of Honda Auto 1.610% 4/22/24 Trade Date 9/21/22 43813RAC1 09/21/22 Sold 775,907.53 Units Of First Am Govt Ob Fd CI Y Trade Date 9/21/22 31846V203 09/21/22 Purchased 20,466.3 Par Value Of FNMA Gtd Remic 3.000% 7/25/41 Trade Date 9/16/22 Purchased Through Sncrus44 Stifel, Nicolaus US Swift External Ref#: 00613000020910A 20,466.3 Par Value At 99.00000015 % 3136A7D25 09/21/22 Paid Accrued Interest On Purchase Of FNMA Gtd Remic 3.000% 7/25/41 Income Debit 34.11- USD 3136A7D25 09/21/22 Matured 250,000 Par Value Of Dominion Energy South C P 9/21/22 Trade Date 9/21/22 250,000 Par Value At 100 25731 EJMS 09/21/22 Interest Earned On Dominion Energy South C P 9/21/22 250,000 Par Value At 100 25731 EJM5 722.21 129.96 -34.11 642.22 - 376,875.87 376,875.87 - 302.29 11,790.63 - 12,054.10 11, 393.63 775,907.53 - 20,261.64 - 11,347.22 - 775,907.53 20,261.64 249,357.78 - 249,357.78 261 embank 00- -M -PF-PC -274-04 02353104 23531 0313205-00-01445-04 Page 31 of 58 ACCOUNT NUMBER: 240907004 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) PROJECT SALES TAX REVENUE This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Posted Description Income Principal Tax Cash Cash Cost 09/21/22 Cash Disbursement Transfer To Principal Income Earnings 09/21/22 Cash Receipt Transfer From Income Income Earnings 09/21/22 Purchased 229,704.25 Units Of First Am Govt Ob Fd CI Y Trade Date 9/21/22 31846V203 09/21/22 Purchased 450,000 Par Value Of Cooperatieve Centrale C P 9/22/22 Trade Date 9/21/22 Purchased Through Rbc Capital Markets, LLC Swift External Ref#: 00613000021010A 450,000 Par Value At 99.99364 21687BJN2 09/21/22 Purchased 350,000 Par Value Of Continental Rubr Amer C P 9/22/22 Trade Date 9/21/22 Purchased Through J.P. Morgan Securities LLC Swift External Ref#: 00613000021020A 350,000 Par Value At 99.99216571 21201CJN7 09/22/22 Matured 450,000 Par Value Of Cooperatieve Centrale C P 9/22/22 Trade Date 9/22/22 450,000 Par Value At 100 21687BJN2 09/22/22 Interest Earned On Cooperatieve Centrale C P 9/22/22 450,000 Par Value At 100 % 21687BJN2 09/22/22 Matured 350,000 Par Value Of Continental Rubr Amer C P 9/22/22 Trade Date 9/22/22 350,000 Par Value At 100 % 21201CJN7 09/22/22 Interest Earned On Continental Rubr Amer C P 9/22/22 350,000 Par Value At 100 21201CJN7 09/22/22 Cash Disbursement Transfer To Principal Income Earnings 09/22/22 Cash Receipt Transfer From Income Income Earnings - 608.11 28.62 27.42 - 908.21 608.11 - 229,704.25 229,704.25 - 449,971.38 449,971.38 - 349,972.58 349,972.58 449,971.38 - 449,971.38 349,972.58 - 349,972.58 908.21 262 embank 00- -M -PF-PC -274-04 02353104 23531 0313205-00-01445-04 Page 32 of 58 ACCOUNT NUMBER: 240907004 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) PROJECT SALES TAX REVENUE This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/22/22 Purchased 800,000 Units Of First Am Govt Ob Fd CI Y Trade Date 9/22/22 31846V203 09/23/22 Sold 449,819.5 Units Of First Am Govt Ob Fd CI Y Trade Date 9/23/22 31846V203 09/23/22 Purchased 475,000 Par Value Of U S Treasury Nt 0.125% 8/15/23 Trade Date 9/21/22 Purchased Through Nmrius33 Nomura Secs Intl Ny Swift External Ref#: 00613000021030A 475,000 Par Value At 96.52734316 % 91282CAF8 09/23/22 Paid Accrued Interest On Purchase Of U S Treasury Nt 0.125% 8/15/23 Income Debit 62.92- USD 91282CAF8 09/23/22 Matured 500,000 Par Value Of L3Harris Technologies C P 9/23/22 Trade Date 9/23/22 500,000 Par Value At 100 50246YJP0 09/23/22 Interest Earned On L3Harris Technologies C P 9/23/22 500,000 Par Value At 100 50246YJP0 09/23/22 Cash Disbursement Transfer To Principal Income Earnings 09/23/22 Cash Receipt Transfer From Income Income Earnings 09/23/22 Purchased 41,432.2 Units Of First Am Govt Ob Fd CI Y Trade Date 9/23/22 31846V203 09/23/22 Purchased 450,000 Par Value Of Canadian Tire Corp Ltd C P 9/27/22 Trade Date 9/23/22 Purchased Through Rbc Capital Markets, LLC Swift External Ref#: 00613000021070A 450,000 Par Value At 99.95988889 % 13668MJT5 09/26/22 Purchased 380.54 Par Value Of FNMA Gtd Remic 3.000% 3/25/40 Trade Date 9/25/22 3136AGP89 - 62.92 183.33 - 120.41 - 800,000.00 800,000.00 449,819.50 - 449,819.50 - 458,504.88 458,504.88 499,816.67 - 499,816.67 120.41 - 41,432.20 41,432.20 - 449,819.50 449,819.50 - 380.54 380.54 263 embank 00- -M -PF-PC -274-04 02353104 23531 0313205-00-01445-04 Page 33 of 58 ACCOUNT NUMBER: 240907004 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) PROJECT SALES TAX REVENUE This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Interest Earned On FNMA Gtd Remic 3.000% 3/25/40 Deferred Interest For 9/25/22 On Payup Issue 3136AGP89 09/26/22 Amortized Premium On F H L M C Mltcl Mtg 2.592% 4/25/23 Fed Basis Decreased By 46.03 USD To 118,658.74 USD 9/25/22 Current Year Amortization 3137B7YX1 09/26/22 Interest Earned On F H L M C Mltcl Mtg 2.592% 4/25/23 $0.00216/Pv On 118,343.98 Pv Due 9/25/22 3137B7YX1 09/26/22 Paid Down 15,779.48 Par Value Of F H L M C Mltcl Mtg 2.592% 4/25/23 Trade Date 9/25/22 3137B7YX1 09/26/22 Interest Earned On F H L M C Mltcl Mtg 3.300% 4/25/23 $0.00275/Pv On 100,000.00 Pv Due 9/25/22 3137B3NX2 09/26/22 Amortized Premium On F H L M C Mltcl Mtg 3.300% 4/25/23 Fed Basis Decreased By 47.07 USD To 100,321.91 USD 9/25/22 Current Year Amortization 3137B3NX2 09/26/22 Paid Down 3,603.73 Par Value Of F H L M C Mltcl Mtg 3.300% 4/25/23 Trade Date 9/25/22 3137B3NX2 09/26/22 Interest Earned On F H L M C Mltcl Mt 3.320% 2/25/23 $0.00277/Pv On 142,775.87 Pv Due 9/25/22 3137B36J2 09/26/22 Amortized Premium On F H L M C Mltcl Mt 3.320% 2/25/23 Fed Basis Decreased By 228.07 USD To 143,338.69 USD 9/25/22 Current Year Amortization 3137B36J2 09/26/22 Paid Down 3,115.55 Par Value Of F H L M C Mltcl Mt 3.320% 2/25/23 Trade Date 9/25/22 3137B36J2 09/26/22 Interest Earned On F H L M C Mltcl Mt 2.615% 1/25/23 $0.00218/Pv On 200,000.00 Pv Due 9/25/22 3137B04Y7 255.62 275.00 395.01 435.84 380.54 - 46.03 15,779.48 - 15,821.45 - 47.07 3,603.73 - 3,615.33 - 228.07 3,115.55 - 3,127.83 264 embank 00- -M -PF-PC -274-04 02353104 23531 0313205-00-01445-04 Page 34 of 58 ACCOUNT NUMBER: 240907004 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) PROJECT SALES TAX REVENUE This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Amortized Premium On F H L M C Mltcl Mt 2.615% 1/25/23 Fed Basis Decreased By 177.05 USD To 200,696.79 USD 9/25/22 Current Year Amortization 3137B04Y7 09/26/22 Amortized Premium On F H L M C MItcl Mt 2.522% 1/25/23 Fed Basis Decreased By 3.71 USD To 52,660.94 USD 9/25/22 Current Year Amortization 3137B1U75 09/26/22 Interest Earned On F H L M C Mltcl Mt 2.522% 1/25/23 $0.00210/Pv On 52,746.04 Pv Due 9/25/22 3137B1U75 09/26/22 Paid Down 22,262.06 Par Value Of F H L M C Mltcl Mt 2.522% 1/25/23 Trade Date 9/25/22 3137B1U75 09/26/22 Interest Earned On F H L M C Mltcl Mtg 3.111% 2/25/23 $0.00259/Pv On 147,452.44 Pv Due 9/25/22 3137B2HN3 09/26/22 Amortized Premium On F H L M C Mltcl Mtg 3.111 % 2/25/23 Fed Basis Decreased By 60.84 USD To 147,752.72 USD 9/25/22 Current Year Amortization 3137B2HN3 09/26/22 Paid Down 10,771.69 Par Value Of F H L M C Mltcl Mtg 3.111% 2/25/23 Trade Date 9/25/22 3137B2HN3 09/26/22 Interest Earned On F H L M C Mltcl Mtg 3.531% 7/25/23 $0.00294/Pv On 50,000.00 Pv Due 9/25/22 3137B5JM6 09/26/22 Amortized Premium On F H L M C Mltcl Mtg 3.531% 7/25/23 Fed Basis Decreased By 70.64 USD To 50,690.42 USD 9/25/22 Current Year Amortization 3137B5JM6 09/26/22 Interest Earned On F H L M C Mltcl Mtg 2.697% 1/25/25 $0.00225/Pv On 42,854.01 Pv Due 9/25/22 3137BJP56 110.86 382.27 147.13 96.31 - 177.05 - 3.71 22,262.06 - 22,226.14 - 60.84 10,771.69 - 10,793.63 - 70.64 265 embank 00- -M -PF-PC -274-04 02353104 23531 0313205-00-01445-04 Page 35 of 58 ACCOUNT NUMBER: 240907004 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) PROJECT SALES TAX REVENUE This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Amortized Premium On F H L M C Mltcl Mtg 2.697% 1/25/25 Fed Basis Decreased By 17.53 USD To 43,336.29 USD 9/25/22 Current Year Amortization 3137BJP56 09/26/22 Paid Down 2,090.18 Par Value Of F H L M C Mltcl Mtg 2.697% 1/25/25 Trade Date 9/25/22 3137BJP56 09/26/22 Interest Earned On F H L M C Mltcl Mt 2.76996% 5/25/25 $0.00231/Pv On 300,000.00 Pv Due 9/25/22 3137BJQ71 09/26/22 Amortized Premium On F H L M C Mltcl Mt 2.76996% 5/25/25 Fed Basis Decreased By 399.19 USD To 312,529.49 USD 9/25/22 Current Year Amortization 3137BJQ71 09/26/22 Amortized Premium On F H L M C Mltcl Mtg 2.454% 8/25/23 Fed Basis Decreased By 53.44 USD To 230,140.20 USD 9/25/22 Current Year Amortization 3137BSPW7 09/26/22 Interest Earned On F H L M C Mltcl Mtg 2.454% 8/25/23 $0.00205/Pv On 229,658.30 Pv Due 9/25/22 3137BSPW7 692.50 469.65 - 17.53 2,090.18 - 2,113.70 - 399.19 - 53.44 09/26/22 Paid Down 269.27 Par Value Of 269.27 - 269.84 F H L M C Mltcl Mtg 2.454% 8/25/23 Trade Date 9/25/22 3137BSPW7 09/26/22 Interest Earned On F H L M C Mltcl Mtg 2.951% 2/25/24 $0.00246/Pv On 109,802.76 Pv Due 9/25/22 3137FCM35 09/26/22 Amortized Premium On F H L M C Mltcl Mtg 2.951% 2/25/24 Fed Basis Decreased By 10.96 USD To 109,985.97 USD 9/25/22 Current Year Amortization 3137FCM35 09/26/22 Paid Down 3,737.44 Par Value Of F H L M C Mltcl Mtg 2.951% 2/25/24 Trade Date 9/25/22 3137FCM35 09/26/22 Interest Earned On F H L M C Mltcl Mt 2.79237% 7/25/24 $0.00233/Pv On 84,505.34 Pv Due 9/25/22 3137FQXG3 270.02 196.64 - 10.96 3,737.44 - 3,743.68 266 embank 00- -M -PF-PC -274-04 02353104 23531 0313205-00-01445-04 Page 36 of 58 ACCOUNT NUMBER: 240907004 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) PROJECT SALES TAX REVENUE This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Interest Earned On F H L M C Mltcl Mt 3.250% 4/25/23 $0.00271/Pv On 172,635.95 Pv Due 9/25/22 3137B3NA2 09/26/22 Amortized Premium On F H L M C Mltcl Mt 3.250% 4/25/23 Fed Basis Decreased By 84.85 USD To 173,216.22 USD 9/25/22 Current Year Amortization 3137B3NA2 467.56 - 84.85 09/26/22 Paid Down 4,675.44 Par Value Of 4,675.44 - 4,691.16 F H L M C Mltcl Mt 3.250% 4/25/23 Trade Date 9/25/22 3137B3NA2 09/26/22 Sold 938,969.18 Units Of 938,969.18 - 938,969.18 First Am Govt Ob Fd CI Y Trade Date 9/26/22 31846V203 09/26/22 Amortized Premium On - 9.66 FNMA Gtd Remic 3.000% 3/25/40 Fed Basis Decreased By 9.66 USD To 152,998.43 USD 9/25/22 Current Year Amortization 3136AGP89 09/26/22 Paid Down 4,994.15 Par Value Of FNMA Gtd Remic 3.000% 3/25/40 Trade Date 9/25/22 3136AGP89 09/26/22 Interest Earned On FNMA Gtd Remic 3.000% 10/25/37 $0.00250/Pv On 86,210.83 Pv Due 9/25/22 3136AYEV1 09/26/22 Paid Down 3,686 Par Value Of FNMA Gtd Remic 3.000% 10/25/37 Trade Date 9/25/22 3136AYEV1 09/26/22 Accreted Discount On FNMA #Am2182 2.160% 1/01/23 Fed Basis Increased By 10.77 USD To 117,893.28 USD 9/26/22 Market Discount 3138L2M87 09/26/22 Paid Down 320.91 Par Value Of FNMA #Am2182 2.160% 1/01/23 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 3138L2M87 09/26/22 Interest Earned On FNMA #Am2182 2.160% 1/01/23 August FNMA Due 9/25/22 3138L2M87 215.53 219.33 4,994.15 - 5,019.87 3,686.00 - 3,671.60 10.77 320.91 - 320.84 267 embank 00- -M -PF-PC -274-04 02353104 23531 0313205-00-01445-04 Page 37 of 58 ACCOUNT NUMBER: 240907004 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) PROJECT SALES TAX REVENUE This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Accreted Discount On FNMA #Bm1757 2.413% 4/01/23 Fed Basis Increased By 1.25 USD To 42,926.37 USD 9/26/22 Market Discount 3140J55T2 09/26/22 Paid Down 11,718.11 Par Value Of FNMA #Bm1757 2.413% 4/01/23 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 3140J55T2 09/26/22 Interest Earned On FNMA #Bm1757 2.413% 4/01/23 August FNMA Due 9/25/22 3140J55T2 09/26/22 Amortized Premium On FNMA #995265 5.500% 1/01/24 Fed Basis Decreased By 12.09 USD To 29,534.31 USD 9/25/22 Current Year Amortization 31416BTW8 09/26/22 Paid Down 3,904 Par Value Of FNMA #995265 5.500% 1/01/24 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 31416BTW8 09/26/22 Interest Earned On FNMA #995265 5.500% 1/01/24 August FNMA Due 9/25/22 31416BTW8 09/26/22 Matured 350,000 Par Value Of National Fuel Gas Co C P 9/26/22 Trade Date 9/26/22 350,000 Par Value At 100 % 63616KJS9 09/26/22 Interest Earned On National Fuel Gas Co C P 9/26/22 350,000 Par Value At 100 % 63616KJS9 09/26/22 Cash Disbursement Transfer To Principal Income Earnings 09/26/22 Cash Receipt Transfer From Income Income Earnings 09/26/22 Purchased 375,282.2 Units Of First Am Govt Ob Fd CI Y Trade Date 9/26/22 31846V203 89.21 134.96 404.44 - 1,063.47 1.25 11,718.11 - 11,716.04 - 12.09 3,904.00 - 3,915.79 349,595.56 - 349,595.56 1,063.47 - 375,282.20 375,282.20 268 embank 00- -M -PF-PC -274-04 02353104 23531 0313205-00-01445-04 Page 38 of 58 ACCOUNT NUMBER: 240907004 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) PROJECT SALES TAX REVENUE This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Purchased 247,932.69 Par Value Of F H L M C Mltcl Mt 3.458% 8/25/23 Trade Date 9/6/22 Purchased Through Bofmcat2 Bank Of Montreal 247,932.69 Par Value At 99.56640248 % Revs/Repost Ctas Adjust 9/26/22 3137B5KW2 09/26/22 Paid Accrued Interest On Purchase Of F H L M C Mltcl Mt 3.458% 8/25/23 Income Debit 190.52- USD 3137B5KW2 09/26/22 Purchased 400,000 Par Value Of Continental Rubber Of C P 10/03/22 Trade Date 9/26/22 Purchased Through BofA Securities, Inc./Fxd Inc Swift External Ref#: 00613000021090A 400,000 Par Value At 99.93 % 21201 C K39 09/26/22 Purchased 400,000 Par Value Of Natl Rural Util Coop C P 10/21/22 Trade Date 9/26/22 Purchased Through Rbc Capital Markets, LLC Swift External Ref#: 00613000021100A 400,000 Par Value At 99.77014 % 63743DKM2 09/27/22 Interest Earned On Bank Montreal C D 0.20147% 9/27/22 0.00562 USD/$1 Pv On 225,000 Par Value Due 9/27/22 06367CLT2 09/27/22 Purchased 248,312.62 Units Of First Am Govt Ob Fd CI Y Trade Date 9/27/22 31846V203 09/27/22 Matured 225,000 Par Value Of Bank Montreal C D 0.20147% 9/27/22 Trade Date 9/27/22 225,000 Par Value At 100 06367CLT2 09/27/22 Matured 450,000 Par Value Of Canadian Tire Corp Ltd C P 9/27/22 Trade Date 9/27/22 450,000 Par Value At 100 13668MJT5 09/27/22 Interest Earned On Canadian Tire Corp Ltd C P 9/27/22 450,000 Par Value At 100 % 13668MJT5 09/27/22 Amortized Premium On Citigroup Inc 2.700% 10/27/22 Fed Basis Decreased By 7,447.58 USD To 750,000.00 USD 9/27/22 Current Year Amortization 172967LQ2 - 190.52 1,264.44 180.50 - 246,857.66 246,857.66 - 399,720.00 399,720.00 - 399,080.56 399,080.56 - 248,312.62 248,312.62 225,000.00 - 225,000.00 449,819.50 - 449,819.50 - 7,447.58 269 embank 00- -M -PF-PC -274-04 02353104 23531 0313205-00-01445-04 Page 39 of 58 ACCOUNT NUMBER: 240907004 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) PROJECT SALES TAX REVENUE This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/27/22 Full Call 750,000 $1 Pv Citigroup Inc 2.700% 10/27/22 On 09/27/22 At 1.00 USD Federal Tax Cost 750,000.00 USD Corporate Action Id: 177289 172967LQ2 09/27/22 Full Call 750,000 Shares/Par Value Of Citigroup Inc 2.700% 10/27/22 Payable At 0.0113 USD Due 09/27/22 Total Income 8,437.50 USD 172967L02 09/27/22 Cash Disbursement Transfer To Principal Income Earnings 09/27/22 Cash Receipt Transfer From Income Income Earnings 09/27/22 Purchased 1,397,611.67 Units Of First Am Govt Ob Fd CI Y Trade Date 9/27/22 31846V203 09/28/22 Cash Disbursement Transfer To Principal Income Earnings 09/28/22 Cash Receipt Transfer From Income Income Earnings 09/30/22 Sold 1,481,224.48 Units Of First Am Govt Ob Fd CI Y Trade Date 9/30/22 31846V203 09/30/22 Purchased 450,000 Par Value Of Canadian Tire Corp Ltd C P 10/11/22 Trade Date 9/29/22 Purchased Through Rcmcus31 United States Swift External Ref#: 00613000021140A 450,000 Par Value At 99.88480667 13668MKB2 09/30/22 Purchased 1,025,000 Par Value Of U S Treasury Nt 0.325% 10/31/23 Trade Date 9/30/22 Purchased Through Sbnyus33 Citgroup GbI Mkts Ny Swift External Ref#: 00613000021150A 1,025,000 Par Value At 100.16774927 % 91282CDE8 09/30/22 Paid Accrued Interest On Purchase Of U S Treasury Nt 0.325% 10/31/23 Income Debit 5,023.42- USD 91282CDE8 8,437.50 - 12,622.32 - 1,454.96 - 5,023.42 750,000.00 - 750,000.00 12,622.32 - 1,397,611.67 1,397,611.67 1,454.96 1,481,224.48 - 1,481,224.48 - 449,481.63 449,481.63 - 1,026,719.43 1,026,719.43 270 embank 00- -M -PF-PC -274-04 02353104 23531 0313205-00-01445-04 Page 40 of 58 ACCOUNT NUMBER: 240907004 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) PROJECT SALES TAX REVENUE This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost Ending Balance 09/30/2022 - $5,023.42 $5,023.42 $23,195,726.91 271 embank 00- -M -PF-PC -274-04 02354704 23547 0313237-00-01445-04 Page 3 of 56 ACCOUNT NUMBER: 240907020 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) RAMP UP ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc Cash Equivalents 900,000.000 57,855.900 Federal Home Loan Bks Discount Note 10/13/2022 313385K47 First American Government Oblig Fd CI Y #3763 31846V203 899,253.00 99.9170 57,855.90 1.0000 899,122.50 99.90 57,855.90 1.00 5.9 .00 0.09 0.4 1,425.00 2.46 Total Cash Equivalents $957,108.90 $956,978.40 6.3 $1,425.09 US Government Issues 815,000.000 5,087.860 23,600.480 49,346.640 1,300,000.000 U S Treasury Note 1.375 10/15/2022 912828YK0 Standard & Poors Rating: N/A Moodys Rating: Aaa FNMAGtdREMICPassThru C M 0 Ser 2012 M17 CI A2 2.184 11/25/2022 3136A96F0 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser K SO1 CI A2 2.522 01/25/2023 3137B1U75 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser K029 CI A2 3.320 02/25/2023 3137B36J2 Standard & Poors Rating: N/A Moodys Rating: N/A U S Treasury Note 0.500 03/15/2023 912828ZD5 Standard & Poors Rating: N/A Moodys Rating: Aaa 814,641.40 99.9560 814,014.44 99.88 5,068.83 4,931.45 99.6260 23,519.29 99.6560 5.4 11,206.25 1.38 0.0 111.07 96.93 2.19 23,200.38 98.30 2.53 0.2 595.20 49,167.02 49,484.42 0.3 1,638.31 99.6360 100.28 3.33 1,280,344.00 98.4880 1,299,988.12 100.00 8.5 6,500.00 .51 272 embank 00- -M -PF-PC -274-04 02354704 23547 0313237-00-01445-04 Page 4 of 56 ACCOUNT NUMBER: 240907020 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) RAMP UP ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 11,786.690 22,134.870 16,777.760 1,295,000.000 1,265,000.000 130,000.000 400,000.000 1,255,000.000 FNMA GtdREMICPass Thru CMOSer 2013M6Cl2A 03/25/2023 Var 3136AC7J4 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cert Pool#Bm1757 2.493 04/01/2023 3140J55T2 Standard & Poors Rating: N/A Moodys Rating: N/A FNMAGtdREMICPassThru C M 0 Ser 2003 23 CI Eq 5.500 04/25/2023 31392J6N4 Standard & Poors Rating: N/A Moodys Rating: N/A U S Treasury Note 0.125 05/15/2023 912828ZP8 Standard & Poors Rating: N/A Moodys Rating: Aaa U S Treasury Note 0.125 10/15/2023 91282CAP6 Standard & Poors Rating: N/A Moodys Rating: Aaa FNMA 0.300 10/27/2023 3136G46A6 Standard & Poors Rating: AA+ Moodys Rating: Aaa FHLMCMTN 0.320 11/02/2023 3134GW6E1 Standard & Poors Rating: N/A Moodys Rating: Aaa U S Treasury Note 0.125 12/15/2023 91282CBA8 Standard & Poors Rating: N/A Moodys Rating: Aaa 11,676.37 99.0640 11,592.84 98.36 2.70 0.1 314.94 22,078.65 22,130.97 0.2 534.11 99.7460 99.98 2.42 16,766.02 99.9300 1,263,842.30 97.5940 1,211,730.85 95.7890 124,247.50 95.5750 382,440.00 95.6100 1,194,207.80 95.1560 16,788.56 100.06 5.50 1,288,955.47 99.53 1,257,228.53 99.39 129,967.50 99.98 400,233.80 100.06 1,238,114.84 98.65 0.1 922.78 8.4 1,618.75 .13 8.0 1,581.25 .13 0.8 390.00 .31 2.5 1,280.00 .33 7.9 1,568.75 .13 273 embank 00- -M -PF-PC -274-04 02354704 23547 0313237-00-01445-04 Page 5 of 56 ACCOUNT NUMBER: 240907020 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) RAMP UP ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 209,000.000 565,000.000 1,000,000.000 175,000.000 23,278.600 85,000.000 1,020,000.000 134,886.060 FHLMC Multiclass Mtg Partn C M 0 Ser K037 CI A2 3.490 01/25/2024 3137B7YY9 Standard & Poors Rating: AAA Moodys Rating: N/A U S Treasury Note 0.375 04/15/2024 91282CBV2 Standard & Poors Rating: N/A Moodys Rating: Aaa U S Treasury Note 0.250 06/15/2024 91282CCG4 Standard & Poors Rating: N/A Moodys Rating: Aaa FHLMC Multiclass Mtg Partn C M 0 Ser K039 CI A2 3.303 07/25/2024 3137BDCW4 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser K041 CI Al 2.720 08/25/2024 3137BFE80 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC MTN 4.000 12/30/2024 3134GXA61 Standard & Poors Rating: AA+ Moodys Rating: Aaa U S Treasury Note 1.750 12/31/2024 912828YY0 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser K050 CI Al 2.802 01/25/2025 3137BLW87 Standard & Poors Rating: N/A Moodys Rating: N/A 206,510.81 98.8090 531,958.80 94.1520 934,020.00 93.4020 171,388.00 97.9360 23,006.01 98.8290 83,813.40 98.6040 966,450.00 94.7500 131,790.42 97.7050 216,621.13 103.65 540,192.97 95.61 974,541.01 97.45 183,047.45 104.60 23,759.93 102.07 2.75 1.4 7,294.10 3.53 3.5 2,118.75 .40 6.2 2,500.00 .27 1.1 5,780.25 3.37 0.2 633.18 85,000.00 0.6 3,400.00 100.00 4.06 1,022,919.13 100.29 138,948.25 103.01 6.4 17,850.00 1.85 0.9 3,779.51 2.87 274 embank 00- -M -PF-PC -274-04 02354704 23547 0313237-00-01445-04 Page 6 of 56 ACCOUNT NUMBER: 240907020 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) RAMP UP ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 148,860.130 105,000.000 1,250,000.000 150,000.000 35,000.000 155,000.000 125,000.000 150,000.000 FHLMC Multiclass Mtg Partn C M 0 Ser K731 CI A2 02/25/2025 Var 3137F4WZ1 Standard & Poors Rating: N/A Moodys Rating: N/A Federal Home Loan Bks 2.200 02/28/2025 3130AR2C4 Standard & Poors Rating: AA+ Moodys Rating: Aaa U S Treasury Note 0.500 03/31/2025 912828ZF0 Standard & Poors Rating: N/A Moodys Rating: Aaa FHLMC Multiclass Mtg Partn C M 0 Ser Kplb CI A 2.770 05/25/2025 3137BJQ71 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser K047 CI A2 3.329 05/25/2025 3137BKRJ1 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC MTN 4.050 07/21/2025 3134GXG24 Standard & Poors Rating: AA+ Moodys Rating: Aaa FHLMC Multiclass Mtg Partn C M 0 Ser K052 CI A2 3.151 11/25/2025 3137BMTX4 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cert Pool #BI1359 3.460 01/01/2026 3140HSQM6 Standard & Poors Rating: N/A Moodys Rating: N/A 145,577.76 97.7950 99,341.55 94.6110 1,140,387.50 91.2310 142,909.50 95.2730 149,767.85 100.61 105,000.00 100.00 1,210, 609.18 96.85 157, 569.02 105.05 1.0 5,358.96 3.68 0.7 2,310.00 2.32 7.5 6,250.00 .55 1.0 4,154.94 2.91 33,874.40 34,870.12 0.2 1,165.15 96.7840 99.63 3.44 152,808.30 98.5860 119,777.50 95.8220 147,027.00 98.0180 155,000.00 100.00 124,448.24 99.56 151,104.92 100.74 1.0 6,277.50 4.11 0.8 3,938.70 3.29 1.0 5,190.00 3.53 275 embank 00- -M -PF-PC -274-04 02354704 23547 0313237-00-01445-04 Page 7 of 56 ACCOUNT NUMBER: 240907020 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) RAMP UP ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 175,000.000 52,770.660 153,529.590 28,220.780 54,293.950 10,693.580 12,210.960 25,315.780 FHLMC Multiclass Mtg Partn C M 0 Ser Kbx1 CI A2 2.920 01/25/2026 3137F4CZ3 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser 3806 CI L 3.500 02/15/2026 3137A6YW6 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cert Pool#An1613 2.550 07/01/2026 3138LDYK3 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn CMOSer 4272CIYg 2.000 11/15/2026 3137B6DF5 Standard & Poors Rating: N/A Moodys Rating: N/A FNMAGtdREMICPassThru C M 0 Ser 2017 M4 CI A2 12/25/2026 Var 3136AVY52 Standard & Poors Rating: N/A Moodys Rating: N/A G N M A II Pass Thru Cert Pool #005276 3.000 01/20/2027 36202F2H8 Standard & Poors Rating: N/A Moodys Rating: N/A G N M A II Pass Thru Cert Pool #005300 3.000 02/20/2027 36202F3H7 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser 4039 CI Qb 1.500 05/15/2027 3137AQQE1 Standard & Poors Rating: N/A Moodys Rating: N/A 167,954.50 95.9740 52,115.25 98.7580 143,243.11 93.3000 27,671.32 98.0530 50,204.53 92.4680 10,401.32 97.2670 11,870.03 97.2080 24,073.03 95.0910 173,660.16 99.23 1.1 1,295.70 .77 53,214.16 0.4 1,846.97 100.84 3.54 150,195.43 97.83 1.0 3,915.00 2.73 28,519.18 0.2 564.42 101.06 2.04 52,183.70 0.3 1,432.82 96.11 2.85 10,781.97 100.83 3.08 12,453.86 101.99 3.09 0.1 320.81 25,558.84 100.96 1.58 0.1 366.33 0.2 379.74 276 embank 00- -M -PF-PC -274-04 02354704 23547 0313237-00-01445-04 Page 8 of 56 ACCOUNT NUMBER: 240907020 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) RAMP UP ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 100,061.930 29,836.030 11,306.700 58,458.130 33,039.470 46,095.720 29,649.050 G N M A Partn Cert Pool #779250 3.000 05/15/2027 36176XQB8 Standard & Poors Rating: N/A Moodys Rating: N/A GNMAGtdREMICPassThru C M 0 Ser 2012 96 CI Ad 1.500 08/20/2027 38378HAU0 Standard & Poors Rating: N/A Moodys Rating: N/A FNMAGtdREMICPassThru C M 0 Ser 2012 102 CI Bj 1.500 09/15/2027 3136A8SX9 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser 4138 CI Ha 1.250 12/15/2027 3137AWWM3 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Multiclass Mtg Partn C M 0 Ser 4328 CI Ea 2.500 12/15/2027 3137B9RN7 Standard & Poors Rating: N/A Moodys Rating: N/A G N M A II Pass Thru Cert Pool #Ma0909 3.000 04/20/2028 36179NAJ7 Standard & Poors Rating: N/A Moodys Rating: N/A FNMAGtdREMICPassThru C M 0 Ser 2013 27 CI Ka 1.250 04/25/2028 3136ADZA0 Standard & Poors Rating: N/A Moodys Rating: N/A 54,742.690 GNMAII Partn Cert Pool #Ma1134 3.000 07/20/2028 36179NHK7 97,215.17 97.1550 28,090.03 94.1480 10,636.21 94.0700 55,186.23 94.4030 32,520.09 98.4280 44,614.66 96.7870 27,887.90 94.0600 52,759.36 96.3770 102,501.06 102.44 30,100.04 100.88 1.59 0.6 3,001.86 3.09 11,421.70 101.02 1.59 0.2 447.54 57,190.12 97.83 1.32 0.1 169.60 33,413.71 101.13 2.54 0.4 730.73 0.2 825.99 45,921.05 0.3 1,382.87 99.62 3.10 29,852.26 100.69 1.33 0.2 370.61 55,791.74 0.4 1,642.28 101.92 3.11 277 embank 00- -M -PF-PC -274-04 02354704 23547 0313237-00-01445-04 Page 9 of 56 ACCOUNT NUMBER: 240907020 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) RAMP UP ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 13,084.760 15,886.280 16,080.310 147,765.690 49,351.520 59,246.950 143,563.920 59,234.080 FNMA GtdREM1CPass Thru CMOSer 201370CIDg 1.750 07/25/2028 3136AEY84 Standard & Poors Rating: N/A Moodys Rating: N/A GN MA II Partn Cert Pool #Ma1202 2.500 08/20/2028 36179NKP2 Standard & Poors Rating: N/A Moodys Rating: N/A F H L M C Multiclass Mtg Partn C M 0 Ser 4305 CI Ct 2.000 02/15/2029 3137B84S3 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cert Pool #As4860 2.500 05/01/2030 3138WEMJ5 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Gold Partn Cert Pool #G18561 3.000 07/01/2030 3128MMTTO Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Gold Partn Cert Pool #J32243 3.000 07/01/2030 31307NP40 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Gold Partn Cert Pool #G18571 2.500 10/01/2030 3128MMT52 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Partn Cert Umbs Pool #Zt1963 3.500 11/01/2030 3132AEFC5 Standard & Poors Rating: N/A Moodys Rating: N/A 12,400.43 94.7700 15,127.55 95.2240 15,750.66 97.9500 137,122.13 92.7970 46,661.86 94.5500 55,925.57 94.3940 133,373.75 92.9020 56,207.22 94.8900 13,237.67 101.17 1.85 16,294.07 102.57 2.63 0.1 228.98 15,879.30 98.75 2.04 0.1 397.16 152,530.22 103.22 0.1 321.61 0.9 3,694.14 2.69 48,818.06 0.3 1,480.55 98.92 3.17 62,045.39 0.4 1,777.41 104.72 3.18 148,141.04 103.19 0.9 3,589.10 2.69 61,932.87 0.4 2,073.19 104.56 3.69 278 embank 00- -M -PF-PC -274-04 02354704 23547 0313237-00-01445-04 Page 10 of 56 ACCOUNT NUMBER: 240907020 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) RAMP UP ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 130,151.640 FNMA Partn Cert Pool #AI7688 3.500 11/01/2030 3138EQRJ3 164,044.570 11,993.140 45,736.270 25,688.880 28,978.130 42,100.490 138,560.620 FNMA Partn Cert Umbs Pool #Ma4226 2.000 12/01/2030 31418DVU3 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Gold Partn Cert Pool #G18586 2.500 02/01/2031 3128MMUL5 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Partn Cert Mirror Pool #Zs7403 3.000 05/01/2031 3132A8GL7 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cert Pool #AI8561 3.500 06/01/2031 3138ETQP4 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cert Pool #Ma2803 2.500 11/01/2031 31418CDH4 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA GtdREMICPass Thru C M 0 Ser 2015 89 CI Ke 2.000 11/25/2031 3136AQZK9 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cert Umbs Pool#Fm1155 2.500 06/01/2032 3140X4H90 Standard & Poors Rating: N/A Moodys Rating: N/A 123,762.50 95.0910 147,282.50 89.7820 11,141.39 92.8980 43, 303.56 94.6810 24,441.94 95.1460 136,299.55 104.72 168,228.06 102.55 12,413.45 103.50 2.69 0.8 4,555.31 3.68 1.0 3,280.89 2.23 0.1 299.83 47,807.97 0.3 1,372.09 104.53 3.17 27,068.48 105.37 3.68 0.2 899.11 26,886.78 29,984.10 0.2 724.45 92.7830 103.47 2.69 39, 394.69 93.5730 128,569.01 92.7890 42,980.84 102.09 2.14 143,695.77 103.71 0.3 842.01 0.9 3,464.02 2.69 279 embank 00- -M -PF-PC -274-04 02354704 23547 0313237-00-01445-04 Page 11 of 56 ACCOUNT NUMBER: 240907020 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) RAMP UP ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 19,608.280 30,668.610 43,855.510 62,165.790 74,922.940 56,908.700 374,396.220 55,016.550 FNMA Partn Cert Umbs Pool #Bm3956 3.000 12/01/2032 3140J8ME0 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMC Partn Cert Pool #Zt1989 3.500 01/01/2033 3132AEF68 Standard & Poors Rating: N/A Moodys Rating: N/A FHLMCGtdREMICPassThru Stripped Tr 370 CI 100 1.000 09/25/2033 3133Q5GZ3 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cert Pool #Fm6017 3.000 02/01/2035 3140X9VK8 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cert Pool #Fm3936 2.500 08/01/2035 3140X7LS6 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA PartnCart Umbs Pool #Ma4112 3.000 08/01/2035 31418DSA1 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA Partn Cert Umbs Pool #Ma4497 2.000 11/01/2036 31418D7K2 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA GtdREMICPass Thru C M 0 Ser 2017 83 CI Vn 3.000 10/25/2037 3136AYEV1 Standard & Poors Rating: N/A Moodys Rating: N/A 18,504.53 94.3710 29,022.01 94.6310 40,465.48 92.2700 20,501.34 104.55 3.18 0.1 588.25 32,566.85 0.2 1,073.40 106.19 3.70 44,217.04 100.82 1.08 0.3 438.56 58,595.61 65,428.48 0.4 1,864.97 94.2570 105.25 3.18 69,509.01 92.7740 52,907.45 92.9690 330,277.37 88.2160 54,425.12 98.9250 77,847.17 0.5 1,873.07 103.90 2.69 59,052.59 0.4 1,707.26 103.77 3.23 381,553.62 101.91 2.2 7,487.92 2.27 54,801.64 0.4 1,650.50 99.61 3.03 280 embank 00- -M -PF-PC -274-04 02354704 23547 0313237-00-01445-04 Page 12 of 56 ACCOUNT NUMBER: 240907020 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) RAMP UP ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 18,981.770 7,846.080 3,208.240 4,695.370 32,088.680 18,590.510 47,639.370 12,333.730 GNMAGtdREMICPassThru C M O Ser 2010 4 CI Pd 3.000 01/16/2039 38376T5Z1 Standard & Poors Rating: N/A Moodys Rating: N/A GNMAGtdREMICPassThru C M 0 Ser 2010 19 CI Ua 4.000 07/16/2039 38376V2E6 Standard & Poors Rating: N/A Moodys Rating: N/A GNMAGtdREMICPassThru CMOSer 201118CIPg 3.000 08/20/2040 38377QKH9 Standard & Poors Rating: N/A Moodys Rating: N/A GNMAGtdREMICPassThru C M 0 Ser 2013 47 CI Ec 1.500 12/20/2040 38378JZD7 Standard & Poors Rating: N/A Moodys Rating: N/A FNMAGtdREMICPassThru C M 0 Ser 2012 83 CI Pc 3.000 07/25/2041 3136A7D25 Standard & Poors Rating: N/A Moodys Rating: N/A GNMAGtdREMICPassThru CMOSer 2013116CIMa 2.250 12/16/2041 38378VC45 Standard & Poors Rating: N/A Moodys Rating: N/A GNMAGtdREMICPassThru C M 0 Ser 2013 28 CI Me 1.750 11/20/2042 38378FWR7 Standard & Poors Rating: N/A Moodys Rating: N/A FNMA GtdREMICPass Thru C M 0 Ser 2012 148 CI Mc 2.000 11/25/2042 3136ABNZ2 Standard & Poors Rating: N/A Moodys Rating: N/A 18,411.75 96.9970 19,497.24 0.1 569.45 102.72 3.09 7,806.38 8,007.23 99.4940 0.1 313.84 102.05 4.02 3,166.53 3,237.71 98.7000 0.0 96.25 100.92 3.04 4,592.96 4,636.68 97.8190 31,829.72 99.1930 17,947.84 96.5430 43,639.57 91.6040 11,945.46 96.8520 0.0 70.43 98.75 1.53 31,864.55 99.30 3.02 17,919.51 96.39 2.33 0.2 962.66 44,423.71 93.25 1.91 0.1 418.29 12,516.55 101.48 2.06 0.3 833.69 0.1 246.67 281 embank 00- -M -PF-PC -274-04 02354704 23547 0313237-00-01445-04 Page 13 of 56 ACCOUNT NUMBER: 240907020 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) RAMP UP ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 ASSET DETAIL AS OF 09/30/22 (continued) Shares or Market Value/ Tax Cost/ % of Total Face Amount Security Description Price Unit Cost Yield at Market Est Ann Inc 86,587.500 F H L M C Multiclass Mtg Partn C M 0 Ser 4165 CI Te 1.750 12/15/2042 3137AYSH5 Standard & Poors Rating: N/A Moodys Rating: N/A 78,945.29 91.1740 88,140.33 0.5 1,515.28 101.79 1.92 Total US Government Issues $14,156,157.34 $14,796,358.58 93.7 $175,666.06 Total Assets $15,113,266.24 $15,753,336.98 100.0 $177,091.15 ASSET DETAIL MESSAGES Time of trade execution and trading party (if not disclosed) will be provided upon request. Publicly traded assets are valued in accordance with market quotations or valuation methodologies from financial industry services believed by us to be reliable. Assets that are not publicly traded may be reflected at values from other external sources. Assets for which a current value is not available may be reflected at a previous value or as not valued, at par value, or at a nominal value. Values shown do not necessarily reflect prices at which assets could be bought or sold. Values are updated based on internal policy and may be updated less frequently than statement generation. For further information, please contact your Analyst. Yield at Market and Estimated Annual Income are estimates provided for informational purposes only and should not be relied on for making investment, trading, or tax decisions. The estimates may not represent the actual value earned by your investments and they provide no guarantee of what your investments may earn in the future. 282 embank 00- -M -PF-PC -274-04 02354704 23547 0313237-00-01445-04 Page 15 of 56 ACCOUNT NUMBER: 240907020 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) RAMP UP ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL Date Income Principal Tax Posted Description Cash Cash Cost Beginning Balance 09/01/2022 $.00 $.00 $15,737,023.19 09/01/22 Interest Earned On First Am Govt Ob Fd CI Y Interest From 8/1/22 To 8/31/22 31846V203 92.43 09/02/22 Cash Disbursement - 92.43 Transfer To Principal Income Earnings 09/02/22 Cash Receipt 92.43 Transfer From Income Income Earnings 09/02/22 Purchased 92.43 Units Of - 92.43 92.43 First Am Govt Ob Fd CI Y Trade Date 9/2/22 31846V203 09/15/22 Interest Earned On F H L M C Mltcl Mtg 3.500% 2/15/26 $0.00292/Pv On 55,006.98 Pv Due 9/15/22 3137A6YW6 09/15/22 Amortized Premium On F H L M C Mltcl Mtg 3.500% 2/15/26 Fed Basis Decreased By 23.88 USD To 55,469.27 USD 9/15/22 Current Year Amortization 3137A6YW6 09/15/22 Paid Down 2,236.32 Par Value Of F H L M C Mltcl Mtg 3.500% 2/15/26 Trade Date 9/15/22 3137A6YW6 09/15/22 Amortized Premium On F H L M C Mltcl Mtg 1.500% 5/15/27 Fed Basis Decreased By 9.93 USD To 26,377.85 USD 9/15/22 Current Year Amortization 3137AQQE1 09/15/22 Interest Earned On F H L M C Mltcl Mtg 1.500% 5/15/27 $0.00125/Pv On 26,127.00 Pv Due 9/15/22 3137AQQE1 09/15/22 Paid Down 811.22 Par Value Of F H L M C Mltcl Mtg 1.500% 5/15/27 Trade Date 9/15/22 3137AQQE1 09/15/22 Amortized Premium On F H L M C Mltcl Mtg 1.250% 12/15/27 Fed Basis Decreased By 3.38 USD To 59,202.09 USD 9/15/22 Current Year Amortization 3137AWWM3 160.44 32.66 - 23.88 2,236.32 - 2,255.11 - 9.93 811.22 -819.01 - 3.38 283 embank 00- -M -PF-PC -274-04 02354704 23547 0313237-00-01445-04 Page 16 of 56 ACCOUNT NUMBER: 240907020 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) RAMP UP ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/15/22 Interest Earned On F H L M C Mltcl Mtg 1.250% 12/15/27 $0.00104/Pv On 60,514.72 Pv Due 9/15/22 3137AWWM3 09/15/22 Paid Down 2,056.59 Par Value Of F H L M C Mltcl Mtg 1.250% 12/15/27 Trade Date 9/15/22 3137AWWM3 63.04 09/15/22 Amortized Premium On F H L M C Mltcl Mtg 1.750% 12/15/42 Fed Basis Decreased By 18.69 USD To 89,526.53 USD 9/15/22 Current Year Amortization 3137AYSH5 09/15/22 Interest Earned On F H L M C Mltcl Mtg 1.750% 12/15/42 $0.00146/Pv On 87,949.28 Pv Due 9/15/22 3137AYSH5 09/15/22 Paid Down 1,361.78 Par Value Of F H L M C Mltcl Mtg 1.750% 12/15/42 Trade Date 9/15/22 3137AYSH5 09/15/22 Interest Earned On FHLMCMItcl Mtg 2.000% 11/15/26 $0.00167/Pv On 30,308.04 Pv Due 9/15/22 3137B6DF5 128.26 50.51 09/15/22 Amortized Premium On FHLMCMItcl Mtg 2.000% 11/15/26 Fed Basis Decreased By 14.01 USD To 30,628.51 USD 9/15/22 Current Year Amortization 3137B6DF5 09/15/22 Paid Down 2,087.26 Par Value Of F H L M C Mltcl Mtg 2.000% 11/15/26 Trade Date 9/15/22 3137B6DF5 09/15/22 Interest Earned On F H L M C Mltcl Mtg 2.000% 2/15/29 $0.00167/Pv On 17,367.10 Pv Due 9/15/22 3137B84S3 09/15/22 Paid Down 1,286.79 Par Value Of F H L M C Mltcl Mtg 2.000% 2/15/29 Trade Date 9/15/22 3137B84S3 28.95 09/15/22 Amortized Premium On FHLMCMItcl Mtg 2.500% 12/15/27 Fed Basis Decreased By 14.15 USD To 35,644.99 USD 9/15/22 Current Year Amortization 3137B9RN7 2,056.59 - 2,011.97 - 18.69 1,361.78 - 1,386.20 - 14.01 2,087.26 - 2,109.33 1,286.79 - 1,270.71 - 14.15 284 embank 00- -M -PF-PC -274-04 02354704 23547 0313237-00-01445-04 Page 17 of 56 ACCOUNT NUMBER: 240907020 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) RAMP UP ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/15/22 Interest Earned On F H L M C MItcl Mtg 2.500% 12/15/27 $0.00208/Pv On 35,245.76 Pv Due 9/15/22 3137B9RN7 09/15/22 Paid Down 2,206.29 Par Value Of F H L M C MItcl Mtg 2.500% 12/15/27 Trade Date 9/15/22 3137B9RN7 09/15/22 Amortized Premium On GNMA #779250 3.000% 5/15/27 Fed Basis Decreased By 102.43 USD To 105,802.78 USD 9/15/22 Current Year Amortization 36176XQB8 09/15/22 Paid Down 3,223.15 Par Value Of GNMA #779250 3.000% 5/15/27 For Record Date Of August Due 9/15/22 August GNMA Due 9/15/22 36176XQB8 09/15/22 Interest Earned On GNMA #779250 3.000% 5/15/27 August GNMA Due 9/15/22 36176XQB8 09/15/22 Accreted Discount On FHLMC GdG18561 3.000% 7/01/30 Fed Basis Increased By 14.45 USD To 49,837.21 USD 9/15/22 Market Discount 3128MMTTO 09/15/22 Paid Down 1,030.28 Par Value Of F H L M C Gd G18561 3.000% 7/01/30 For Record Date Of August Due 9/15/22 August FHLMC Due 9/15/22 3128MMTTO 09/15/22 Interest Earned On FHLMC Gd G18561 3.000% 7/01/30 August FHLMC Due 9/15/22 3128MMTTO 09/15/22 Amortized Premium On FHLMC Gd G18571 2.500% 10/01/30 Fed Basis Decreased By 118.21 USD To 150,938.35 USD 9/15/22 Current Year Amortization 3128MMT52 09/15/22 Paid Down 2,710.88 Par Value Of FHLMC Gd G18571 2.500% 10/01/30 For Record Date Of August Due 9/15/22 August FHLMC Due 9/15/22 3128MMT52 73.43 258.21 125.95 2,206.29 - 2,231.28 - 102.43 3,223.15 - 3,301.72 14.45 1,030.28 - 1,019.15 - 118.21 2,710.88 - 2,797.31 285 embank 00- -M -PF-PC -274-04 02354704 23547 0313237-00-01445-04 Page 18 of 56 ACCOUNT NUMBER: 240907020 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) RAMP UP ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/15/22 Interest Earned On FHLMC Gd G18571 2.500% 10/01/30 August FHLMC Due 9/15/22 3128MMT52 09/15/22 Amortized Premium On FHLMC Gd G18586 2.500% 2/01/31 Fed Basis Decreased By 10.48 USD To 12,681.92 USD 9/15/22 Current Year Amortization 3128MMUL5 304.74 - 10.48 09/15/22 Paid Down 259.38 Par Value Of 259.38 - 268.47 FHLMC Gd G18586 2.500% 2/01/31 For Record Date Of August Due 9/15/22 August FHLMC Due 9/15/22 3128MMUL5 09/15/22 Interest Earned On FHLMC Gd G18586 2.500% 2/01/31 August FHLMC Due 9/15/22 3128MMUL5 09/15/22 Amortized Premium On F H L M C Gd J32243 3.000% 7/01/30 Fed Basis Decreased By 71.39 USD To 62,804.88 USD 9/15/22 Current Year Amortization 31307NP40 25.53 - 71.39 09/15/22 Paid Down 725.23 Par Value Of 725.23 - 759.49 FHLMC Gd J32243 3.000% 7/01/30 For Record Date Of August Due 9/15/22 August FHLMC Due 9/15/22 31307NP40 09/15/22 Interest Earned On FHLMC Gd J32243 3.000% 7/01/30 August FHLMC Due 9/15/22 31307NP40 09/15/22 Interest Earned On U S Treasury Nt 0.500% 3/15/23 0.0025 USD/$1 Pv On 1,300,000 Par Value Due 9/15/22 912828ZD5 09/15/22 Amortized Premium On U S Treasury Nt 0.500% 3/15/23 Fed Basis Decreased By 1,414.23 USD To 1,299,988.12 USD 9/15/22 Current Year Amortization 912828ZD5 09/15/22 09/15/22 Cash Disbursement Transfer To Principal Income Earnings Cash Receipt Transfer From Income Income Earnings 149.93 3,250.00 - 4,651.65 4,651.65 - 1,414.23 286 " embank 00- -M -PF-PC -274-04 02354704 23547 0313237-00-01445-04 Page 19 of 56 ACCOUNT NUMBER: 240907020 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) RAMP UP ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/15/22 Purchased 24,646.82 Units Of First Am Govt Ob Fd CI Y Trade Date 9/15/22 31846V203 09/16/22 Interest Earned On G N M A Gtd Remic 3.000% 1/16/39 $0.00250/Pv On 19,757.16 Pv Due 9/16/22 38376T5Z1 09/16/22 Amortized Premium On G N MA Gtd Remic 3.000% 1/16/39 Fed Basis Decreased By 9.53 USD To 20,293.69 USD 9/16/22 Current Year Amortization 38376T5Z1 09/16/22 Paid Down 775.39 Par Value Of G N MA Gtd Remic 3.000% 1/16/39 Trade Date 9/16/22 38376T5Z1 09/16/22 Interest Earned On G N MA Gtd Remic 4.000% 7/16/39 $0.00333/Pv On 8,102.44 Pv Due 9/16/22 38376V2E6 09/16/22 Amortized Premium On G N MA Gtd Remic 4.000% 7/16/39 Fed Basis Decreased By 2.86 USD To 8,268.86 USD 9/16/22 Current Year Amortization 38376V2E6 09/16/22 Paid Down 256.36 Par Value Of G N MA Gtd Remic 4.000% 7/16/39 Trade Date 9/16/22 38376V2E6 09/16/22 Interest Earned On G N MA Gtd Remic 2.250% 12/16/41 $0.00188/Pv On 19,331.24 Pv Due 9/16/22 38378VC45 09/16/22 Paid Down 740.73 Par Value Of G N MA Gtd Remic 2.250% 12/16/41 Trade Date 9/16/22 38378VC45 09/16/22 Cash Disbursement Transfer To Principal Income Earnings 09/16/22 Cash Receipt Transfer From Income Income Earnings 09/16/22 Purchased 1,885.13 Units Of First Am Govt Ob Fd CI Y Trade Date 9/16/22 31846V203 49.39 27.01 36.25 - 112.65 - 24,646.82 24,646.82 - 9.53 775.39 - 796.45 - 2.86 256.36 - 261.63 740.73 - 713.99 112.65 - 1,885.13 1,885.13 287 embank 00- -M -PF-PC -274-04 02354704 23547 0313237-00-01445-04 Page 20 of 56 ACCOUNT NUMBER: 240907020 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) RAMP UP ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/20/22 Amortized Premium On G N M A II #Ma1202 2.500% 8/20/28 Fed Basis Decreased By 13.74 USD To 16,715.12 USD 9/20/22 Current Year Amortization 36179NKP2 09/20/22 Paid Down 410.51 Par Value Of G N M A II #Ma1202 2.500% 8/20/28 P & I Due 09/20/22 36179N KP2 09/20/22 Interest Earned On G N M A II #Ma1202 2.500% 8/20/28 P & I Due 09/20/22 36179NKP2 33.95 - 13.74 410.51 - 421.05 09/20/22 Purchased 444.46 Units Of - 444.46 444.46 First Am Govt Ob Fd CI Y Trade Date 9/20/22 31846V203 09/20/22 Interest Earned On G N M A Gtd Remic 3.000% 8/20/40 $0.00250/Pv On 3,391.46 Pv Due 9/20/22 38377QKH9 09/20/22 Amortized Premium On G N M A Gtd Remic 3.000% 8/20/40 Fed Basis Decreased By 0.53 USD To 3,422.61 USD 9/20/22 Current Year Amortization 38377QKH9 09/20/22 Paid Down 183.22 Par Value Of G N M A Gtd Remic 3.000% 8/20/40 Trade Date 9/20/22 38377QKH9 09/20/22 Interest Earned On G N M A Gtd Remic 1.750% 11/20/42 $0.00146/Pv On 47,894.51 Pv Due 9/20/22 38378FWR7 09/20/22 Paid Down 255.14 Par Value Of G N M A Gtd Remic 1.750% 11/20/42 Trade Date 9/20/22 38378FWR7 09/20/22 Amortized Premium On G N M A Gtd Remic 1.500% 8/20/27 Fed Basis Decreased By 10.26 USD To 30,964.43 USD 9/20/22 Current Year Amortization 38378HAU0 09/20/22 Interest Earned On G N M A Gtd Remic 1.500% 8/20/27 $0.00125/Pv On 30,692.84 Pv Due 9/20/22 38378HAU0 8.48 69.85 38.37 - 0.53 183.22 - 184.90 255.14 - 237.92 - 10.26 288 embank 00- -M -PF-PC -274-04 02354704 23547 0313237-00-01445-04 Page 21 of 56 ACCOUNT NUMBER: 240907020 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) RAMP UP ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/20/22 Paid Down 856.81 Par Value Of G N M A Gtd Remic 1.500% 8/20/27 Trade Date 9/20/22 38378HAU0 09/20/22 Interest Earned On G N M A Gtd Remic 1.500% 12/20/40 $0.00125/Pv On 4,899.34 Pv Due 9/20/22 38378JZD7 09/20/22 Paid Down 203.97 Par Value Of G N M A Gtd Remic 1.500% 12/20/40 Trade Date 9/20/22 38378JZD7 09/20/22 Amortized Premium On GNMAII #005276 3.000% 1/20/27 Fed Basis Decreased By 3.95 USD To 11,102.18 USD 9/20/22 Current Year Amortization 36202F2H8 09/20/22 Paid Down 317.59 Par Value Of GNMAII #005276 3.000% 1/20/27 For Record Date Of August Due 9/20/22 August GNMA Due 9/20/22 36202F2H8 09/20/22 Interest Earned On GNMAII #005276 3.000% 1/20/27 August GNMA Due 9/20/22 36202F2H8 09/20/22 Amortized Premium On GNMAII #Ma0909 3.000% 4/20/28 Fed Basis Decreased By 7.81 USD To 47,510.30 USD 9/20/22 Current Year Amortization 36179NAJ7 09/20/22 Accreted Discount On GNMAII #Ma0909 3.000% 4/20/28 Fed Basis Increased By 14.75 USD To 47,249.84 USD 9/20/22 Market Discount 36179NAJ7 09/20/22 Paid Down 1,610.1 Par Value Of GNMAII #Ma0909 3.000% 4/20/28 For Record Date Of August Due 9/20/22 August GNMA Due 9/20/22 36179NAJ7 09/20/22 Interest Earned On GNMAII #Ma0909 3.000% 4/20/28 August GNMA Due 9/20/22 36179NAJ7 6.12 27.53 119.27 856.81 - 864.39 203.97 - 201.42 - 3.95 317.59 - 320.21 - 7.81 14.75 1,610.10 - 1,604.00 289 embank 00- -M -PF-PC -274-04 02354704 23547 0313237-00-01445-04 Page 22 of 56 ACCOUNT NUMBER: 240907020 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) RAMP UP ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/20/22 Amortized Premium On GNMAII #005300 3.000% 2/20/27 Fed Basis Decreased By 10.70 USD To 12,860.34 USD 9/20/22 Current Year Amortization 36202F3H7 09/20/22 Paid Down 398.55 Par Value Of GNMAII #005300 3.000% 2/20/27 For Record Date Of August Due 9/20/22 August GNMA Due 9/20/22 36202F3H7 09/20/22 Interest Earned On GNMAII #005300 3.000% 2/20/27 August GNMA Due 9/20/22 36202F3H7 09/20/22 Amortized Premium On GNMAII #Ma1134 3.000% 7/20/28 Fed Basis Decreased By 36.41 USD To 57,407.15 USD 9/20/22 Current Year Amortization 36179NHK7 09/20/22 Paid Down 1,585.04 Par Value Of GNMAII #Ma1134 3.000% 7/20/28 For Record Date Of August Due 9/20/22 August GNMA Due 9/20/22 36179NHK7 09/20/22 Interest Earned On GNMAII #Ma1134 3.000% 7/20/28 August GNMA Due 9/20/22 36179NHK7 09/20/22 Cash Disbursement Transfer To Principal Income Earnings 09/20/22 Cash Receipt Transfer From Income Income Earnings 09/20/22 Purchased 5,852.38 Units Of First Am Govt Ob Fd CI Y Trade Date 9/20/22 31846V203 09/21/22 Cash Disbursement Transfer To Principal Income Earnings 09/21/22 Cash Receipt Transfer From Income Income Earnings 31.52 140.82 - 441.96 - 33.95 - 10.70 398.55 - 406.48 - 36.41 1,585.04 - 1,615.41 441.96 - 5,852.38 5,852.38 33.95 290 embank 00- -M -PF-PC -274-04 02354704 23547 0313237-00-01445-04 Page 23 of 56 ACCOUNT NUMBER: 240907020 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) RAMP UP ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Amortized Premium On FHLMC #Zs7403 3.000% 5/01/31 Fed Basis Decreased By 51.95 USD To 48,878.51 USD 9/25/22 Current Year Amortization 3132A8GL7 09/26/22 Paid Down 1,024.15 Par Value Of FHLMC #Zs7403 3.000% 5/01/31 P & I Due 09/25/22 3132A8GL7 09/26/22 Interest Earned On FHLMC #Zs7403 3.000% 5/01/31 P & I Due 09/25/22 3132A8GL7 09/26/22 Accreted Discount On FNMA #An1613 2.550% 7/01/26 Fed Basis Increased By 75.32 USD To 150,504.23 USD 9/26/22 Market Discount 3138LDYK3 09/26/22 Paid Down 315.66 Par Value Of FNMA #An 1613 2.550% 7/01/26 P & I Due 09/25/22 3138LDYK3 09/26/22 Interest Earned On FNMA #An 1613 2.550% 7/01/26 P & I Due 09/25/22 3138LDYK3 09/26/22 Interest Earned On FNMA #B11359 3.460% 1/01/26 Int Due 9/25/22 3140HSQM6 09/26/22 Amortized Premium On FNMA #B11359 3.460% 1/01/26 Fed Basis Decreased By 28.69 USD To 151,104.92 USD 9/25/22 Current Year Amortization 3140HSQM6 09/26/22 Interest Earned On FNMA Gtd Remic 2.183% 11/25/22 $0.00182/Pv On 11,449.56 Pv Due 9/25/22 3136A96F0 09/26/22 Paid Down 6,361.7 Par Value Of FNMA Gtd Remic 2.183% 11/25/22 Trade Date 9/25/22 3136A96F0 09/26/22 Interest Earned On F H L M C Mltcl Mt 3.320% 2/25/23 $0.00277/Pv On 50,447.47 Pv Due 9/25/22 3137B36J2 116.90 337.82 446.92 20.84 139.57 - 51.95 1,024.15 - 1,070.54 75.32 315.66 - 308.80 - 28.69 6,361.70 - 6,166.13 291 embank 00- -M -PF-PC -274-04 02354704 23547 0313237-00-01445-04 Page 24 of 56 ACCOUNT NUMBER: 240907020 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) RAMP UP ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Amortized Premium On F H L M C Mltcl Mt 3.320% 2/25/23 Fed Basis Decreased By 57.07 USD To 50,588.32 USD 9/25/22 Current Year Amortization 3137B36J2 09/26/22 Paid Down 1,100.83 Par Value Of F H L M C Mltcl Mt 3.320% 2/25/23 Trade Date 9/25/22 3137B36J2 09/26/22 Amortized Premium On F H L M C MItcl Mtg 2.682% 10/25/22 Fed Basis Decreased By 33.00 USD To 55,588.86 USD 9/26/22 Current Year Amortization 3137AYCE9 09/26/22 Paid Down 55,558.96 Par Value Of F H L M C MItcl Mtg 2.682% 10/25/22 Cmo Final Paydown 3137AYCE9 09/26/22 Interest Earned On F H L M C Mltcl Mt 2.522% 1/25/23 $0.00210/Pv On 40,835.62 Pv Due 9/25/22 3137B1U75 09/26/22 Paid Down 17,235.14 Par Value Of F H L M C MItcl Mt 2.522% 1/25/23 Trade Date 9/25/22 3137B1U75 09/26/22 Interest Earned On F H L M C Mltcl Mtg 2.778% 9/25/22 $0.00232/Pv On 1,618.97 Pv Due 9/25/22 3137B3NW4 09/26/22 Interest Earned On F H L M C Mltcl Mt 3.490% 1/25/24 $0.00291/Pv On 209,000.00 Pv Due 9/25/22 3137B7YY9 85.82 3.75 607.84 09/26/22 Amortized Premium On F H L M C Mltcl Mt 3.490% 1/25/24 Fed Basis Decreased By 485.12 USD To 216,621.13 USD 9/25/22 Current Year Amortization 3137B7YY9 09/26/22 Interest Earned On F H L M C Mltcl Mtg 3.303% 7/25/24 $0.00275/Pv On 175,000.00 Pv Due 9/25/22 3137BDCW4 481.69 09/26/22 Amortized Premium On F H L M C Mltcl Mtg 3.303% 7/25/24 Fed Basis Decreased By 372.90 USD To 183,047.45 USD 9/25/22 Current Year Amortization 3137BDCW4 - 57.07 1,100.83 - 1,103.90 - 33.00 55,558.96 - 55,588.86 17,235.14 - 16,942.96 - 485.12 - 372.90 292 embank 00- -M -PF-PC -274-04 02354704 23547 0313237-00-01445-04 Page 25 of 56 ACCOUNT NUMBER: 240907020 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) RAMP UP ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Interest Earned On F H L M C Mltcl Mtg 2.720% 8/25/24 $0.00227/Pv On 24,985.98 Pv Due 9/25/22 3137BFE80 09/26/22 Amortized Premium On F H L M C Mltcl Mtg 2.720% 8/25/24 Fed Basis Decreased By 22.88 USD To 25,502.61 USD 9/25/22 Current Year Amortization 3137BFE80 09/26/22 Paid Down 1,707.38 Par Value Of F H L M C Mltcl Mtg 2.720% 8/25/24 Trade Date 9/25/22 3137BFE80 09/26/22 Interest Earned On F H L M C Mltcl Mt 2.76996% 5/25/25 $0.00231/Pv On 150,000.00 Pv Due 9/25/22 3137BJQ71 09/26/22 Amortized Premium On F H L M C Mltcl Mt 2.76996% 5/25/25 Fed Basis Decreased By 241.15 USD To 157,569.02 USD 9/25/22 Current Year Amortization 3137BJQ71 09/26/22 Interest Earned On F H L M C Mltcl Mtg 3.329% 5/25/25 $0.00277/Pv On 35,000.00 Pv Due 9/25/22 3137BKRJ1 09/26/22 Amortized Premium On F H L M C Mltcl Mtg 2.802% 1/25/25 Fed Basis Decreased By 152.08 USD To 143,139.04 USD 9/25/22 Current Year Amortization 3137BLW87 09/26/22 Interest Earned On F H L M C Mltcl Mtg 2.802% 1/25/25 $0.00234/Pv On 138,954.34 Pv Due 9/25/22 3137BLW87 09/26/22 Paid Down 4,068.28 Par Value Of F H L M C Mltcl Mtg 2.802% 1/25/25 Trade Date 9/25/22 3137BLW87 09/26/22 Interest Earned On F H L M C Mltcl Mt 3.15096% 11/25/25 $0.00263/Pv On 125,000.00 Pv Due 9/25/22 3137BMTX4 09/26/22 Interest Earned On F H L M C Mltcl Mtg 0.7404% 1/25/26 $0.00243/Pv On 175,000.00 Pv Due 9/25/22 3137F4CZ3 56.63 346.25 97.10 324.46 328.23 425.83 - 22.88 1,707.38 - 1,742.68 - 241.15 - 152.08 4,068.28 - 4,190.79 293 embank 00- -M -PF-PC -274-04 02354704 23547 0313237-00-01445-04 Page 26 of 56 ACCOUNT NUMBER: 240907020 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) RAMP UP ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Interest Earned On F H L M C Mltcl Mtg 3.600% 2/25/25 $0.00300/Pv On 149,062.60 Pv Due 9/25/22 3137F4WZ1 09/26/22 Amortized Premium On F H L M C Mltcl Mtg 3.600% 2/25/25 Fed Basis Decreased By 31.88 USD To 149,971.55 USD 9/25/22 Current Year Amortization 3137F4WZ1 09/26/22 Paid Down 202.47 Par Value Of F H L M C Mltcl Mtg 3.600% 2/25/25 Trade Date 9/25/22 3137F4WZ1 09/26/22 Purchased 93,460.38 Units Of First Am Govt Ob Fd CI Y Trade Date 9/26/22 31846V203 09/26/22 Interest Earned On FNMA Gtd Remic 1.500% 9/25/27 $0.00125/Pv On 11,682.27 Pv Due 9/25/22 3136A8SX9 09/26/22 Amortized Premium On FNMA Gtd Remic 1.500% 9/25/27 Fed Basis Decreased By 4.38 USD To 11,801.09 USD 9/25/22 Current Year Amortization 3136A8SX9 09/26/22 Paid Down 375.57 Par Value Of FNMA Gtd Remic 1.500% 9/25/27 Trade Date 9/25/22 3136A8SX9 09/26/22 Interest Earned On FNMA Gtd Remic 2.000% 11/25/42 $0.00167/Pv On 12,563.52 Pv Due 9/25/22 3136ABNZ2 09/26/22 Amortized Premium On FNMA Gtd Remic 2.000% 11/25/42 Fed Basis Decreased By 2.18 USD To 12,749.75 USD 9/25/22 Current Year Amortization 3136ABNZ2 09/26/22 Paid Down 229.79 Par Value Of FNMA Gtd Remic 2.000% 11/25/42 Trade Date 9/25/22 3136ABNZ2 09/26/22 Interest Earned On FNMA Gtd Remic 2.672% 3/25/23 $0.00223/Pv On 12,301.54 Pv Due 9/25/22 3136AC7J4 447.19 14.60 20.94 27.39 - 31.88 202.47 - 203.70 - 93,460.38 93,460.38 - 4.38 375.57 - 379.39 - 2.18 229.79 - 233.20 294 embank 00- -M -PF-PC -274-04 02354704 23547 0313237-00-01445-04 Page 27 of 56 ACCOUNT NUMBER: 240907020 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) RAMP UP ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Paid Down 514.85 Par Value Of FNMA Gtd Remic 2.672% 3/25/23 Trade Date 9/25/22 3136AC7J4 09/26/22 Amortized Premium On FNMA Gtd Remic 1.250% 4/25/28 Fed Basis Decreased By 6.98 USD To 30,522.47 USD 9/25/22 Current Year Amortization 3136ADZA0 09/26/22 Interest Earned On FNMA Gtd Remic 1.250% 4/25/28 $0.00104/Pv On 30,314.70 Pv Due 9/25/22 3136ADZA0 09/26/22 Paid Down 665.65 Par Value Of FNMA Gtd Remic 1.250% 4/25/28 Trade Date 9/25/22 3136ADZA0 09/26/22 Interest Earned On FNMA Gtd Remic 1.750% 7/25/28 $0.00146/Pv On 13,389.66 Pv Due 9/25/22 3136AEY84 09/26/22 Amortized Premium On FNMA Gtd Remic 1.750% 7/25/28 Fed Basis Decreased By 5.04 USD To 13,546.13 USD 9/25/22 Current Year Amortization 3136AEY84 31.57 19.53 514.85 - 506.38 - 6.98 665.65 - 670.21 - 5.04 09/26/22 Paid Down 304.9 Par Value Of 304.90 - 308.46 FNMA Gtd Remic 1.750% 7/25/28 Trade Date 9/25/22 3136AEY84 09/26/22 Interest Earned On FNMA Gtd Remic 2.000% 11/25/31 $0.00167/Pv On 43,592.35 Pv Due 9/25/22 3136AQZK9 09/26/22 Amortized Premium On FNMA Gtd Remic 2.000% 11/25/31 Fed Basis Decreased By 20.37 USD To 44,503.90 USD 9/25/22 Current Year Amortization 3136AQZK9 09/26/22 Paid Down 1,491.86 Par Value Of FNMA Gtd Remic 2.000% 11/25/31 Trade Date 9/25/22 3136AQZK9 09/26/22 Interest Earned On FNMA Gtd Remic 2.639% 12/25/26 $0.00220/Pv On 54,352.58 Pv Due 9/25/22 3136AVY52 72.65 119.57 - 20.37 1,491.86 - 1,523.06 295 embank 00- -M -PF-PC -274-04 02354704 23547 0313237-00-01445-04 Page 28 of 56 ACCOUNT NUMBER: 240907020 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) RAMP UP ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Paid Down 58.63 Par Value Of F N M A Gtd Remic 2.639% 12/25/26 Trade Date 9/25/22 3136AVY52 09/26/22 Interest Earned On FNMA Gtd Remic 3.000% 10/25/37 $0.00250/Pv On 57,473.89 Pv Due 9/25/22 3136AYEV1 09/26/22 Paid Down 2,457.34 Par Value Of FNMA Gtd Remic 3.000% 10/25/37 Trade Date 9/25/22 3136AYEV1 09/26/22 Interest Earned On FNMA Gtd Remic 5.500% 4/25/23 $0.00458/Pv On 21,066.16 Pv Due 9/25/22 31392J6N4 09/26/22 Amortized Premium On FNMA Gtd Remic 5.500% 4/25/23 Fed Basis Decreased By 3.44 USD To 21,079.72 USD 9/25/22 Current Year Amortization 31392J6N4 09/26/22 Paid Down 4,288.4 Par Value Of FNMA Gtd Remic 5.500% 4/25/23 Trade Date 9/25/22 31392J6N4 09/26/22 Interest Earned On FHLMC Gtd Remic 1.000% 9/25/33 $0.00083/Pv On 44,918.72 Pv Due 9/25/22 3133Q5GZ3 09/26/22 Amortized Premium On F H L M C Gtd Remic 1.000% 9/25/33 Fed Basis Decreased By 10.79 USD To 45,289.01 USD 9/25/22 Current Year Amortization 3133Q5GZ3 09/26/22 Paid Down 1,063.21 Par Value Of F H L M C Gtd Remic 1.000% 9/25/33 Trade Date 9/25/22 3133Q5GZ3 09/26/22 Amortized Premium On FHLMC #Zt1963 3.500% 11/01/30 Fed Basis Decreased By 74.49 USD To 63,468.57 USD 9/25/22 Current Year Amortization 3132AEFC5 09/26/22 Paid Down 1,468.78 Par Value Of FHLMC #Zt1963 3.500% 11/01/30 For Record Date Of August Due 9/25/22 August FHLMC Due 9/25/22 3132AEFC5 143.68 96.55 37.43 58.63 - 56.35 2,457.34 - 2,447.74 - 3.44 4,288.40 - 4,291.16 - 10.79 1,063.21 - 1,071.97 - 74.49 1,468.78 - 1,535.70 296 embank 00- -M -PF-PC -274-04 02354704 23547 0313237-00-01445-04 Page 29 of 56 ACCOUNT NUMBER: 240907020 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) RAMP UP ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Interest Earned On FHLMC #Zt1963 3.500% 11/01/30 August FHLMC Due 9/25/22 3132AEFC5 09/26/22 Amortized Premium On FHLMC #Zt 1989 3.500% 1/01/33 Fed Basis Decreased By 44.21 USD To 33,273.96 USD 9/25/22 Current Year Amortization 3132AEF68 09/26/22 Paid Down 665.89 Par Value Of FHLMC #Zt1989 3.500% 1/01/33 For Record Date Of August Due 9/25/22 August FHLMC Due 9/25/22 3132AEF68 09/26/22 Interest Earned On FHLMC #Zt1989 3.500% 1/01/33 August FHLMC Due 9/25/22 3132AEF68 09/26/22 Accreted Discount On FNMA #Bm1757 2.413% 4/01/23 Fed Basis Increased By 0.89 USD To 30,438.71 USD 9/26/22 Market Discount 3140J55T2 09/26/22 Paid Down 8,309.21 Par Value Of FNMA #Bm1757 2.413% 4/01/23 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 3140J55T2 09/26/22 Interest Earned On FNMA #Bm1757 2.413% 4/01/23 August FNMA Due 9/25/22 3140J55T2 09/26/22 Amortized Premium On FNMA #A18561 3.500% 6/01/31 Fed Basis Decreased By 36.20 USD To 27,749.39 USD 9/25/22 Current Year Amortization 3138ETQP4 09/26/22 Paid Down 646.21 Par Value Of FNMA #A18561 3.500% 6/01/31 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 3138ETQP4 09/26/22 Interest Earned On FNMA #A18561 3.500% 6/01/31 August FNMA Due 9/25/22 3138ETQP4 177.05 91.39 63.26 76.81 - 44.21 665.89 - 707.11 0.89 8,309.21 - 8,307.74 - 36.20 646.21 - 680.91 297 embank 00- -M -PF-PC -274-04 02354704 23547 0313237-00-01445-04 Page 30 of 56 ACCOUNT NUMBER: 240907020 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) RAMP UP ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Amortized Premium On FNMA #Ma2803 2.500% 11/01/31 Fed Basis Decreased By 23.55 USD To 30,568.53 USD 9/25/22 Current Year Amortization 31418CDH4 09/26/22 Paid Down 564.82 Par Value Of FNMA #Ma2803 2.500% 11/01/31 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 31418CDH4 09/26/22 Interest Earned On FNMA #Ma2803 2.500% 11/01/31 August FNMA Due 9/25/22 31418CDH4 61.55 09/26/22 Amortized Premium On FNMA #As4860 2.500% 5/01/30 Fed Basis Decreased By 129.08 USD To 156,231.61 USD 9/25/22 Current Year Amortization 3138WEMJ5 09/26/22 Paid Down 3,585.77 Par Value Of FNMA #As4860 2.500% 5/01/30 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 3138WEMJ5 09/26/22 Interest Earned On FNMA #As4860 2.500% 5/01/30 August FNMA Due 9/25/22 3138WEMJ5 315.32 09/26/22 Amortized Premium On FNMA #AI7688 3.500% 11/01/30 Fed Basis Decreased By 169.97 USD To 139,911.06 USD 9/25/22 Current Year Amortization 3138EQRJ3 09/26/22 Paid Down 3,448.61 Par Value Of FNMA #AI7688 3.500% 11/01/30 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 3138EQRJ3 09/26/22 Interest Earned On FNMA #AI7688 3.500% 11/01/30 August FNMA Due 9/25/22 3138EQRJ3 389.67 09/26/22 Amortized Premium On FNMA #Bm3956 3.000% 12/01/32 Fed Basis Decreased By 19.60 USD To 20,888.35 USD 9/25/22 Current Year Amortization 3140J8ME0 - 23.55 564.82 - 584.43 - 129.08 3,585.77 - 3,701.39 - 169.97 3,448.61 - 3,611.51 - 19.60 298 embank 00- -M -PF-PC -274-04 02354704 23547 0313237-00-01445-04 Page 31 of 56 ACCOUNT NUMBER: 240907020 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) RAMP UP ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Paid Down 370.15 Par Value Of FNMA #Bm3956 3.000% 12/01/32 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 3140J8ME0 09/26/22 Interest Earned On FNMA #Bm3956 3.000% 12/01/32 August FNMA Due 9/25/22 3140J8ME0 09/26/22 Amortized Premium On FNMA #Fm1155 2.500% 6/01/32 Fed Basis Decreased By 114.57 USD To 146,430.88 USD 9/25/22 Current Year Amortization 3140X4H90 09/26/22 Paid Down 2,637.36 Par Value Of FNMA #Fm1155 2.500% 6/01/32 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 3140X4H90 09/26/22 Interest Earned On FNMA #Fm1155 2.500% 6/01/32 August FNMA Due 9/25/22 3140X4H90 09/26/22 Amortized Premium On FNMA #Ma4112 3.000% 8/01/35 Fed Basis Decreased By 48.43 USD To 60,068.38 USD 9/25/22 Current Year Amortization 31418DSA1 09/26/22 Paid Down 978.91 Par Value Of FNMA #Ma4112 3.000% 8/01/35 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 31418DSA1 09/26/22 Interest Earned On FNMA #Ma4112 3.000% 8/01/35 August FNMA Due 9/25/22 31418DSA1 09/26/22 Amortized Premium On FNMA #Fm3936 2.500% 8/01/35 Fed Basis Decreased By 53.22 USD To 79,566.46 USD 9/25/22 Current Year Amortization 3140X7LS6 09/26/22 Paid Down 1,654.71 Par Value Of FNMA #Fm3936 2.500% 8/01/35 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 3140X7LS6 49.95 294.16 144.72 370.15 - 387.01 - 114.57 2,637.36 - 2,735.11 - 48.43 978.91 - 1,015.79 - 53.22 1,654.71 - 1,719.29 299 embank 00- -M -PF-PC -274-04 02354704 23547 0313237-00-01445-04 Page 32 of 56 ACCOUNT NUMBER: 240907020 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) RAMP UP ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Interest Earned On FNMA #Fm3936 2.500% 8/01/35 August FNMA Due 9/25/22 3140X7LS6 09/26/22 Amortized Premium On FNMA #Ma4226 2.000% 12/01/30 Fed Basis Decreased By 103.68 USD To 170,807.46 USD 9/25/22 Current Year Amortization 31418DVU3 09/26/22 Paid Down 2,515.26 Par Value Of FNMA #Ma4226 2.000% 12/01/30 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 31418DVU3 09/26/22 Interest Earned On FNMA #Ma4226 2.000% 12/01/30 August FNMA Due 9/25/22 31418DVU3 09/26/22 Amortized Premium On FNMA #Fm6017 3.000% 2/01/35 Fed Basis Decreased By 62.64 USD To 66,538.73 USD 9/25/22 Current Year Amortization 3140X9VK8 09/26/22 Paid Down 1,054.89 Par Value Of FNMA #Fm6017 3.000% 2/01/35 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 3140X9VK8 09/26/22 Interest Earned On FNMA #Fm6017 3.000% 2/01/35 August FNMA Due 9/25/22 3140X9VK8 09/26/22 Amortized Premium On FNMA #Ma4497 2.000% 11/01/36 Fed Basis Decreased By 114.29 USD To 385,209.35 USD 9/25/22 Current Year Amortization 31418D7K2 09/26/22 Paid Down 3,587.15 Par Value Of FNMA #Ma4497 2.000% 11/01/36 For Record Date Of August Due 9/25/22 August FNMA Due 9/25/22 31418D7K2 09/26/22 Interest Earned On FNMA #Ma4497 2.000% 11/01/36 August FNMA Due 9/25/22 31418D7K2 159.54 277.60 158.05 629.97 - 103.68 2,515.26 - 2,579.40 - 62.64 1,054.89 - 1,110.25 - 114.29 3,587.15 - 3,655.73 300 embank 00- -M -PF-PC -274-04 02354704 23547 0313237-00-01445-04 Page 33 of 56 ACCOUNT NUMBER: 240907020 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) RAMP UP ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/26/22 Purchased 25,737.93 Par Value Of FNMA Gtd Remic 3.000% 7/25/41 Trade Date 9/21/22 Purchased Through Stonex Financial Inc./Bd Rates Swift External Ref#: 00614900005580A 25,737.93 Par Value At 98.79688638 % 3136A7D25 09/26/22 Paid Accrued Interest On Purchase Of FNMA Gtd Remic 3.000% 7/25/41 Income Debit 53.62- USD 3136A7D25 09/26/22 Cash Disbursement Transfer To Principal Income Earnings 09/26/22 Cash Receipt Transfer From Income Income Earnings 09/26/22 Purchased 20,944.86 Units Of First Am Govt Ob Fd CI Y Trade Date 9/26/22 31846V203 09/27/22 Amortized Premium On FNMA Gtd Remic 3.000% 7/25/41 Fed Basis Decreased By 0.89 USD To 33,877.49 USD 9/25/22 Current Year Amortization 3136A7D25 09/27/22 Interest Earned On FNMA Gtd Remic 3.000% 7/25/41 $0.00250/Pv On 34,115.78 Pv Due 9/25/22 3136A7D25 09/27/22 Paid Down 2,027.1 Par Value Of FNMA Gtd Remic 3.000% 7/25/41 Trade Date 9/25/22 3136A7D25 09/27/22 Interest Earned On F H L M C Mltcl Mtg 2.682% 10/25/22 0.002235 USD/$1 Pv On 55,558.96 Par Value Due 9/25/22 3137AYCE9 09/27/22 Purchased 3,775.3 Units Of First Am Govt Ob Fd CI Y Trade Date 9/27/22 31846V203 09/27/22 Cash Disbursement Transfer To Principal Income Earnings 09/27/22 Cash Receipt Transfer From Income Income Earnings - 53.62 - 3,435.21 20.94 124.17 - 4,266.84 - 25,428.27 25,428.27 3,435.21 - 20,944.86 20,944.86 - 0.89 2,027.10 - 2,012.94 - 3,775.30 3,775.30 4,266.84 301 embank 00- -M -PF-PC -274-04 02354704 23547 0313237-00-01445-04 Page 34 of 56 ACCOUNT NUMBER: 240907020 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (I-15 EXPRESS LANES PROJECT) RAMP UP ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/27/22 Sold 1,618.97 Units Of First Am Govt Ob Fd CI Y Trade Date 9/27/22 31846V203 09/28/22 Matured 1,618.97 Par Value Of F H L M C Mltcl Mtg 2.778% 9/25/22 Trade Date 9/25/22 Matured Through Direct From Issuer 9/25/2022 Maturity Proceeds 3137B3NW4 09/28/22 Purchased 1,618.97 Units Of First Am Govt Ob Fd CI Y Trade Date 9/28/22 31846V203 1,618.97 - 1,618.97 1,618.97 - 1,605.06 - 1,618.97 1,618.97 09/28/22 Cash Disbursement - 129.23 Transfer To Principal Income Earnings 09/28/22 Cash Receipt 129.23 Transfer From Income Income Earnings 09/28/22 Sold 1,618.97 Units Of 1,618.97 - 1,618.97 First Am Govt Ob Fd CI Y Trade Date 9/28/22 31846V203 09/30/22 Sold 899,122.5 Units Of 899,122.50 - 899,122.50 First Am Govt Ob Fd CI Y Trade Date 9/30/22 31846V203 09/30/22 Amortized Premium On - 1,136.89 U S Treasury Nt 1.750% 9/30/22 Fed Basis Decreased By 1,136.89 USD To 725,000.00 USD 9/30/22 Current Year Amortization 912828L57 09/30/22 Matured 725,000 Par Value Of U S Treasury Nt 1.750% 9/30/22 Trade Date 9/30/22 725,000 Par Value At 100 912828L57 09/30/22 Interest Earned On U S Treasury Nt 0.500% 3/31/25 0.0025 USD/$1 Pv On 1,250,000 Par Value Due 9/30/22 912828ZF0 09/30/22 Interest Earned On U S Treasury Nt 1.750% 9/30/22 0.00875 USD/$1 Pv On 725,000 Par Value Due 9/30/22 912828L57 09/30/22 Cash Disbursement Transfer To Principal Income Earnings 3,125.00 6,343.75 - 9,468.75 725,000.00 - 725,000.00 302 embank 00- -M -PF-PC -274-04 02354704 23547 0313237-00-01445-04 Page 35 of 56 ACCOUNT NUMBER: 240907020 RIVERSIDE COUNTY TRANSPORTATION COMMISSION, TOLL REVENUE BONDS 2017 SENIOR LIEN TIFIA SERIES (1-15 EXPRESS LANES PROJECT) AMP UP ACCOUNT This statement is for the period from September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Tax Posted Description Cash Cash Cost 09/30/22 Cash Receipt 9,468.75 Transfer From Income Income Earnings 09/30/22 Purchased 734,468.75 Units Of First Am Govt Ob Fd CI Y Trade Date 9/30/22 31846V203 09/30/22 Purchased 900,000 Par Value Of FHLB Disc Nts 10/13/22 Trade Date 9/30/22 Purchased Through Bny Capital Markets, Inc. Swift External Ref#: 00614900005630A 900,000 Par Value At 99.9025 % 313385K47 - 734,468.75 734,468.75 - 899,122.50 899,122.50 Ending Balance 09/30/2022 $0.00 $0.00 $15,753,336.98 303 ATTACHMENT 4 2080 00- -M -UD-U8 -278-01 0334500-00-00913-01 embank RIVERSIDE COUNTY TRANS COMM Page 5 of 32 ACCOUNT NUMBER: 001050990415 September 1, 2022 to September 30, 2022 ASSET DETAIL Security Description Percent Unrealized of Total Estimated Estimated Shares/Face Amt Price Market Value Tax Cost Gain/Loss Portfolio Annual Income Current Yield Cash & Equivalents Cash/Money Market First American Government - 31846V203 Oblig Fd CI Y #3763 163,016.540 1.0000 163,016.54 163,016.54 0.00 0.3 4,015.13 2.46 Total Cash/Money Market $163,016.54 $163,016.54 $0.00 0.3 $4,015.13 Cash Principal Cash -5,711,108.29 -5,711,108.29 Income Cash 5,711,108.29 5,711,108.29 -10.7 10.7 Total Cash $0.00 $0.00 $0.00 0.0 $0.00 Total Cash & Equivalents $163,016.54 $163,016.54 $0.00 0.3 $4,015.13 Taxable Bonds US Government Issues F H L M C Multiclass Mtg Partn - 3137B1U75 C M 0 Ser K SO1 CI A2 2.522 01/25/2023 U S Treasury Note - 91282CBG5 0.125 01/31/2023 31,467.340 845,000.000 99.6560 31,359.09 31,481.90 -122.81 0.1 793.61 2.53 98.8420 835,214.90 845,002.45 -9,787.55 1.6 1,056.25 0.13 304 2080 00- -M -UD-U8 -278-01 0334500-00-00913-01 embank RIVERSIDE COUNTY TRANS COMM Page 6 of 32 ACCOUNT NUMBER: 001050990415 September 1, 2022 to September 30, 2022 Security Description ASSET DETAIL (continued) Percent Unrealized of Total Estimated Estimated Shares/Face Amt Price Market Value Tax Cost Gain/Loss Portfolio Annual Income Current Yield FHLMC Multiclass Mtg Partn - 3137B36J2 C M 0 Ser K029 CI A2 3.320 02/25/2023 U S Treasury Note - 91282CBU4 0.125 03/31/2023 446,913.030 3,600,000.000 FHLMC Multiclass Mtg Partn - 3137B4GY6 C M 0 Ser K032 CI A2 05/25/2023 Var 510,000.000 FHLMC Multiclass Mtg Partn - 3137B4WB8 C M 0 Ser K033 CI A2 3.060 07/25/2023 490,000.000 U S Treasury Note - 91282CCU3 0.125 08/31/2023 10,000.000 U S Treasury Note - 91282CBA8 0.125 12/15/2023 5,640,000.000 U S Treasury Note - 91282CBE0 0.125 01/15/2024 4,775,000.000 U S Treasury Note - 91282CDV0 0.875 01/31/2024 1,425, 000.000 U S Treasury Note - 91282CEA5 1.500 02/29/2024 550,000.000 U S Treasury Note - 91282CEG2 2.250 03/31/2024 99.6360 445,286.27 449,319.04 98.1640 3,533,904.00 3,598,213.29 -4,032.77 -64,309.29 0.8 14,837.51 3.33 6.6 4,500.00 0.13 99.2010 505,925.10 519,582.76 -13,657.66 0.9 16,881.00 3.34 98.9560 484,884.40 495,935.33 -11,050.93 0.9 14,994.00 3.09 96.2930 9,629.30 9,974.61 -345.31 0.0 12.50 0.13 95.1560 5,366,798.40 5,624,501.37 -257,702.97 10.0 7,050.00 0.13 94.7850 4,525,983.75 4,767,166.02 -241,182.27 8.5 5,968.75 0.13 95.5350 1,361,373.75 1,416,526.56 -55,152.81 2.5 12,468.75 0.92 96.1640 528,902.00 548,173.83 -19,271.83 1.0 8,250.00 1.56 870,000.000 97.0000 843,900.00 305 868,776.56 -24,876.56 1.6 19,575.00 2.32 2080 00- -M -UD-U8 -278-01 0334500-00-00913-01 embank RIVERSIDE COUNTY TRANS COMM Page 7 of 32 ACCOUNT NUMBER: 001050990415 September 1, 2022 to September 30, 2022 ASSET DETAIL (continued) Security Description Percent Unrealized of Total Estimated Estimated Shares/Face Amt Price Market Value Tax Cost Gain/Loss Portfolio Annual Income Current Yield U S Treasury Note - 91282CCC3 0.250 05/15/2024 U S Treasury Note - 91282CCG4 0.250 06/15/2024 980,000.000 280,000.000 FNMA Gtd REMIC Pass Thru - 3136AKQM8 C M 0 Ser 2014 M8 CI A2 3.056 06/25/2024 203,572.680 Federal Home Loan Bks - 3130ASME6 3.000 07/08/2024 U S Treasury Note - 91282CCL3 0.375 07/15/2024 730,000.000 3,855,000.000 F H L M C Multiclass Mtg Partn - 3137FYUR5 CM0Ser 0015CIA 08/26/2024 Var U S Treasury Note - 91282CFG1 3.250 08/31/2024 U S Treasury Note - 91282CCX7 0.375 09/15/2024 U S Treasury Note - 91282CDB4 0.625 10/15/2024 U S Treasury Note - 91282CDH1 0.750 11/15/2024 130,252.470 730,000.000 985,000.000 1,115,000.000 620,000.000 93.6800 918,064.00 978,698.44 -60,634.44 1.7 2,450.00 0.27 93.4020 261,525.60 278,359.38 -16,833.78 0.5 700.00 0.27 97.0190 197,504.18 210,250.75 -12,746.57 0.4 6,221.18 3.15 97.7720 713,735.60 728,583.80 -14,848.20 1.3 21,900.00 3.07 93.3710 3,599,452.05 3,854,743.10 -255,291.05 6.7 14,456.25 0.40 99.6510 129,797.89 130,252.47 -454.58 0.2 2,702.11 2.08 98.1950 716,823.50 728,025.39 -11,201.89 1.3 23,725.00 3.31 92.7700 913,784.50 979,985.93 -66,201.43 1.7 3,693.75 0.40 92.9610 1,036,515.15 1,110,949.41 -74,434.26 1.9 6,968.75 0.67 92.9220 576,116.40 306 619,418.75 -43,302.35 1.1 4,650.00 0.81 2080 00- -M -UD-U8 -278-01 0334500-00-00913-01 ti embank RIVERSIDE COUNTY TRANS COMM Page 8 of 32 ACCOUNT NUMBER: 001050990415 September 1, 2022 to September 30, 2022 Security Description ASSET DETAIL (continued) Percent Unrealized of Total Estimated Estimated Shares/Face Amt Price Market Value Tax Cost Gain/Loss Portfolio Annual Income Current Yield FHLMC MTN - 3134GXDZ4 0.450 11/25/2024 300,000.000 91.6870 275,061.00 300,000.00 -24,939.00 0.5 1,350.00 0.49 U S Treasury Note - 91282CDN8 1.000 12/15/2024 610,000.000 93.1840 568,422.40 610,727.53 -42,305.13 1.1 6,100.00 1.07 FHLMC MTN - 3134GXS88 4.000 02/28/2025 340,000.000 98.8650 336,141.00 340,000.00 -3,859.00 0.6 13,600.00 4.05 U S Treasury Note - 91282CEQ0 2.750 05/15/2025 1,765,000.000 96.2310 1,698,477.15 1,764,547.46 -66,070.31 3.2 48,537.50 2.86 U S Treasury Note - 91282CEU1 2.875 06/15/2025 475,000.000 96.4410 458,094.75 473,181.64 U S Treasury Note - 91282CEY3 3.000 07/15/2025 2,195,000.000 96.6560 2,121,599.20 2,207,432.62 U S Treasury Note 91282CFE6 3.125 08/15/2025 2,165,000.000 Federal Home Loan Bks M T N - 3134GXS47 4.200 08/28/2025 340,000.000 Federal Home Loan Bks - 3134GXR63 4.050 08/28/2025 U S Treasury Note - 91282CFK2 3.500 09/15/2025 340,000.000 1,427, 000.000 -15,086.89 -85,833.42 0.9 13,656.25 2.98 4.0 65,850.00 3.10 96.9300 2,098,534.50 2,143,717.97 -45,183.47 3.9 67,656.25 3.22 98.8770 336,181.80 340,000.00 -3,818.20 0.6 14,280.00 4.25 98.4200 334,628.00 340,000.00 -5,372.00 0.6 13,770.00 4.11 97.9610 1,397,903.47 1,406,161.41 -8,257.94 2.6 49,945.00 3.57 307 2080 00- -M -UD-U8 -278-01 0334500-00-00913-01 embank RIVERSIDE COUNTY TRANS COMM Page 9 of 32 ACCOUNT NUMBER: 001050990415 September 1, 2022 to September 30, 2022 ASSET DETAIL (continued) Security Description Percent Unrealized of Total Estimated Estimated Shares/Face Amt Price Market Value Tax Cost Gain/Loss Portfolio Annual Income Current Yield FHLMC MTN - 3134GX3A0 4.750 09/30/2025 370,000.000 99.2390 367,184.30 370,000.00 -2,815.70 0.7 17,575.00 4.79 Federal Home Loan Bks - 3130AKXQ4 0.600 02/12/2026 560,000.000 87.7960 491,657.60 559,608.00 -67,950.40 0.9 3,360.00 0.68 U S Treasury Note - 91282CFB2 2.750 07/31/2027 680,000.000 94.1640 640,315.20 677,450.00 -37,134.80 1.2 18,700.00 2.92 Total US Government Issues $38,660,680.20 $40,326,747.77 -$1,666,067.57 72.3 $528,234.41 Corporate Issues Amazon Com Inc - 023135AJ5 2.500 11/29/2022 300,000.000 99.8390 Bank Of Ny Mellon Corp - 06406RAM9 Medium Term Note 1.850 01/27/2023 299,517.00 301,682.96 -2,165.96 0.6 7,500.00 2.50 300,000.000 99.3570 298,071.00 299,790.00 -1,719.00 0.6 5,550.00 1.86 Apple Inc - 037833DV9 0.750 05/11/2023 195,000.000 98.0010 191,101.95 194,469.60 -3,367.65 0.4 1,462.50 0.76 Amazon Com Inc Sr Nt - 023135BP0 0.400 06/03/2023 270,000.000 97.5250 263,317.50 269,622.00 -6,304.50 0.5 1,080.00 0.41 Chevron USA Inc - 166756AJ5 0.426 08/11/2023 115,000.000 96.6340 111,129.10 115,000.00 -3,870.90 0.2 489.90 0.44 308 2080 00- -M -UD-U8 -278-01 0334500-00-00913-01 embank RIVERSIDE COUNTY TRANS COMM Page 10 of 32 ACCOUNT NUMBER: 001050990415 September 1, 2022 to September 30, 2022 Security Description ASSET DETAIL (continued) Percent Unrealized of Total Estimated Estimated Shares/Face Amt Price Market Value Tax Cost Gain/Loss Portfolio Annual Income Current Yield Honda Auto Receivables - 43815NAC8 A B S Ser 2019 3 CI A3 1.780 08/15/2023 16,982.190 99.8930 Toyota Auto Receivables Owner - 89238UAD2 ABSSer2019CCIA3 1.910 9/15/2023 Florida Pwr Lt Co - 341081GH4 01/12/2024 Var 11,535.810 285,000.000 Bmw Vehicle Owner Trust - 05588CAC6 ABSSer2019ACIA3 1.920 01/25/2024 US Bancorp - 91159HHG8 Medium Term Note 3.700 01/30/2024 17,465.670 550,000.000 Unitedhealth Group Inc - 91324PDM1 3.500 02/15/2024 Jpmorgan Chase Co - 46647PBZ8 0.697 03/16/2024 Morgan Stanley - 61772BAA1 0.731 04/05/2024 Amazon Com Inc - 023135BW5 0.450 05/12/2024 550,000.000 565,000.000 235,000.000 255,000.000 16,964.02 16,982.05 -18.03 0.0 302.28 1.78 99.9300 11,527.73 11,535.72 -7.99 0.0 220.33 1.91 99.1820 282,668.70 285,000.00 -2,331.30 0.5 3,406.73 1.20 99.7910 17,429.17 17,463.32 -34.15 0.0 335.34 1.92 98.9420 544,181.00 571,591.72 -27,410.72 1.0 20,350.00 3.74 98.4380 541,409.00 574,315.76 -32,906.76 1.0 19,250.00 3.56 97.8900 553,078.50 565,000.00 -11,921.50 1.0 3,938.05 0.71 97.5860 229,327.10 235,000.00 -5,672.90 0.4 1,717.85 0.75 93.7430 239,044.65 254,627.70 -15,583.05 0.4 1,147.50 0.48 309 2080 00- -M -UD-U8 -278-01 0334500-00-00913-01 embank RIVERSIDE COUNTY TRANS COMM Page 11 of 32 ACCOUNT NUMBER: 001050990415 September 1, 2022 to September 30, 2022 ASSET DETAIL (continued) Security Description Percent Unrealized of Total Estimated Estimated Shares/Face Amt Price Market Value Tax Cost Gain/Loss Portfolio Annual Income Current Yield Paccar Financial Corp - 69371 RR81 Medium Term Note 3.150 06/13/2024 170,000.000 Ppl Elec Utils Corp 1st Mtg - 69351UAY9 06/24/2024 Var Salesforce Com Inc - 79466LAG9 0.625 07/15/2024 Suntrust Bank - 86787EAY3 3.689 08/02/2024 Paccar Financial - 69371 RR40 Medium Term Note 0.500 08/09/2024 200,000.000 135,000.000 560,000.000 97.5620 165,855.40 169,960.90 -4,105.50 0.3 5,355.00 3.23 98.8550 197,710.00 200,000.00 -2,290.00 0.4 4,633.30 2.34 93.2110 125,834.85 134,931.15 -9,096.30 0.2 843.75 0.67 98.9140 553,918.40 578,255.19 -24,336.79 1.0 20,658.40 3.73 125,000.000 92.6830 John Deere Owner Trust - 47789KAC7 A B S Ser 2020 A CI A3 1.100 08/15/2024 154,882.840 99.0040 Paccar Financial Corp - 69371 RR57 Medium Term Note 0.900 11/08/2024 Bk Of America Corp - 06051 GKG3 Medium Term Note 1.843 02/04/2025 Abbott Laboratories - 002824885 2.950 03/15/2025 555,000.000 235,000.000 500,000.000 92.2320 115,853.75 124,932.50 153,340.21 154,873.38 511,887.60 554,966.70 -9,078.75 0.2 -1,533.17 0.3 -43,079.10 1.0 625.00 0.54 1,703.71 1.11 4,995.00 0.98 95.0340 223,329.90 235,000.00 -11,670.10 0.4 4,331.05 1.94 96.2070 481,035.00 519,292.92 -38,257.92 0.9 14,750.00 3.07 310 2080 00- -M -UD-U8 -278-01 0334500-00-00913-01 ti embank RIVERSIDE COUNTY TRANS COMM Page 12 of 32 ACCOUNT NUMBER: 001050990415 September 1, 2022 to September 30, 2022 Security Description ASSET DETAIL (continued) Percent Unrealized of Total Estimated Estimated Shares/Face Amt Price Market Value Tax Cost Gain/Loss Portfolio Annual Income Current Yield Nike Inc Sr Nt - 654106AH6 2.400 03/27/2025 20,000.000 94.8240 Bk Of America Corp Fr - 06051 GJR1 Medium Term Note 0.976 04/22/2025 Morgan Stanley - 61747YEA9 0.790 05/30/2025 235,000.000 515,000.000 Drive Auto Receivables Trust - 262108AD5 A B S Ser 20211 CI B 0.650 07/15/2025 118,149.310 Colgate Palmolive Co Sr - 194162AM5 3.100 08/15/2025 Cummins Inc Sr Nt - 231021AU0 0.750 09/01/2025 Walmart Inc - 931142EW9 3.900 09/09/2025 200,000.000 550,000.000 270,000.000 Wells Fargo Company - 95000U2H5 Medium Term Note 2.406 10/30/2025 18,964.80 19,972.80 -1,008.00 0.0 480.00 2.53 92.9470 218,425.45 235,000.00 -16,574.55 0.4 2,293.60 1.05 92.0400 474,006.00 511,412.50 -37,406.50 0.9 4,068.50 0.86 99.6790 117,770.05 118,138.42 -368.37 0.2 767.97 0.65 96.5900 193,180.00 199,816.00 -6,636.00 0.4 6,200.00 3.21 89.8000 493,900.00 532,735.50 -38,835.50 0.9 4,125.00 0.83 98.2500 265,275.00 269,811.00 -4,536.00 0.5 10,530.00 3.97 550,000.000 93.3540 Santander Auto Rec Tr 2022 1 - 80286EAC0 A B S Ser 2022 1 CI A3 1.860 11/17/2025 550,000.000 97.9230 513,447.00 548,641.50 538,576.50 549,923.22 -35,194.50 1.0 -11,346.72 1.0 13,233.00 2.58 10,670.00 1.98 311 2080 00- -M -UD-U8 -278-01 0334500-00-00913-01 embank RIVERSIDE COUNTY TRANS COMM Page 13 of 32 ACCOUNT NUMBER: 001050990415 September 1, 2022 to September 30, 2022 ASSET DETAIL (continued) Security Description Percent Unrealized of Total Estimated Estimated Shares/Face Amt Price Market Value Tax Cost Gain/Loss Portfolio Annual Income Current Yield State Str Corp - 857477BR3 1.746 02/06/2026 255,000.000 93.0880 Bank Of America Corp - 06051GKM0 Medium Term Note 3.384 04/02/2026 Wells Fargo Co - 95000U2X0 Medium Term Note 3.908 04/25/2026 Morgan Stanley - 61747YET8 4.679 07/17/2026 Bk Of America Corp - 06051 GLAS Medium Term Note 4.827 07/22/2026 237,374.40 255,000.00 -17,625.60 0.4 4,452.30 1.88 115,000.000 94.4620 108,631.30 115,000.00 -6,368.70 0.2 3,891.60 3.58 210,000.000 100,000.000 95.5970 200,753.70 210,000.00 -9,246.30 0.4 8,206.80 4.09 97.3720 97,372.00 100,000.00 -2,628.00 0.2 4,679.00 4.80 250,000.000 97.7690 Bank New York Mellon Corp - 06406RBJ5 Medium Term Note 4.414 07/24/2026 295,000.000 97.7020 244,422.50 250,000.00 288,220.90 295,000.00 -5,577.50 0.5 -6,779.10 0.5 12,067.50 4.94 13,021.30 4.52 Total Corporate Issues $10,137,851.13 $10,594,744.51 -$456,893.38 18.9 $223,332.26 Taxable Municipal Issues Los Angeles Ca Mun Impt Corp Lease - 544587Y28 Rev Ref Bds 2020 C 0.515 11/01/2022 Taxable 325,000.000 99.7710 324,255.75 325,000.00 -744.25 0.6 1,673.75 0.52 312 2080 00- -M -UD-U8 -278-01 0334500-00-00913-01 embank RIVERSIDE COUNTY TRANS COMM Page 14 of 32 ACCOUNT NUMBER: 001050990415 September 1, 2022 to September 30, 2022 Security Description ASSET DETAIL (continued) Percent Unrealized of Total Estimated Estimated Shares/Face Amt Price Market Value Tax Cost Gain/Loss Portfolio Annual Income Current Yield Riverside Cnty Calif Pension 0 Bds - 76913CAX7 2020 Ca 2.363 02/15/2023 Taxable 170,000.000 99.2830 Bay Area Ca Toll Auth Toll Bridge - 072024WN8 Revenue Ref San Francisco Bay Area 2.184 04/01/2023 Taxable 680,000.000 99.0620 Connecticut ST Ser A - 20772KGM5 2.921 04/15/2023 Taxable 300,000.000 99.2010 Alameda Cnty Ca Jt Pwrs Auth Lease - 010831005 Revenue Ref 3.095 06/01/2023 Taxable 168,781.10 170,000.00 673,621.60 680,000.00 297,603.00 300,456.67 -1,218.90 0.3 -6,378.40 1.3 -2,853.67 0.6 4,017.10 2.38 14,851.20 2.20 8,763.00 2.94 130,000.000 99.2740 129,056.20 131,777.67 -2,721.47 0.2 4,023.50 3.12 Southern Calif Pub Pwr Auth Pwr Proj - 842475P58 Rev Taxable Ref Bds 2020 B Ca 0.527 07/01/2023 Taxable 370,000.000 San Bernardino Calif Cmnty Col - 796720NP1 Taxable Go Ref Bds 2020 Ca 0.729 08/01/2023 Taxable 150,000.000 California ST Univ Rev Taxable - 130770MJ8 Systemwide Bds 2020 D 0.475 11/01/2023 Taxable 150,000.000 Corona Ca Pension Oblig Taxable Bds - 21969AAC6 2021 0.710 05/01/2024 Taxable 97.3000 97.1030 96.2240 190,000.000 93.8990 360,010.00 370,000.00 145, 654.50 150,000.00 144, 336.00 150, 000.00 178,408.10 190, 000.00 -9,990.00 0.7 -4,345.50 0.3 -5,664.00 0.3 -11,591.90 0.3 1,949.90 0.54 1,093.50 0.75 712.50 0.49 1,349.00 0.76 313 2080 00- -M -UD-U8 -278-01 0334500-00-00913-01 embank RIVERSIDE COUNTY TRANS COMM Page 15 of 32 ACCOUNT NUMBER: 001050990415 September 1, 2022 to September 30, 2022 ASSET DETAIL (continued) Security Description Percent Unrealized of Total Estimated Estimated Shares/Face Amt Price Market Value Tax Cost Gain/Loss Portfolio Annual Income Current Yield Massachusetts ST Spl Oblig Rev - 576004GX7 Taxable Bds 2022 A 3.639 07/15/2024 Taxable 480,000.000 98.4600 472,608.00 480,000.00 -7,392.00 0.9 17,467.20 3.70 Los Altos Ca Sch Dist Taxable Go - 544290JH3 Renewal Bans 2021 1.000 10/01/2024 Taxable 480,000.000 93.6080 Los Angeles Ca Mun Impt Corp Lease - 5445872S6 Rev Taxable Ref Bds 2021A 0.683 11/01/2024 Taxable 230,000.000 91.9530 Riverside Cnty Calif Infrastructure - 76913DFV4 Fing Auth Lease Rev Taxable Ref Ca 0.873 11/01/2024 Taxable 230,000.000 92.0270 New York ST Dorm Auth ST Pers - 64990FD43 Income Tax Rev Taxable Gen Purp 0.887 03/15/2025 Taxable 400,000.000 91.4930 Golden ST Tob Securitization Corp - 38122NA77 Calif Tob Settlement Rev Taxable Ca 1.400 06/01/2025 Taxable 270,000.000 90.7810 449,318.40 485,355.73 211,491.90 230,000.00 211,662.10 230,000.00 365,972.00 400,000.00 245,108.70 270,000.00 -36,037.33 0.8 -18,508.10 0.4 -18,337.90 0.4 -34,028.00 0.7 -24,891.30 0.5 4,800.00 1.07 1,570.90 0.74 2,007.90 0.95 3,548.00 0.97 3,780.00 1.54 314 2080 00- -M -UD-U8 -278-01 0334500-00-00913-01 embank RIVERSIDE COUNTY TRANS COMM Page 16 of 32 ACCOUNT NUMBER: 001050990415 September 1, 2022 to September 30, 2022 Security Description ASSET DETAIL (continued) Percent Unrealized of Total Estimated Estimated Shares/Face Amt Price Market Value Tax Cost Gain/Loss Portfolio Annual Income Current Yield Connecticut ST Taxable Go Bds 2022A - 20772KQH5 3.292 06/15/2025 Taxable 170,000.000 96.0040 163,206.80 170,000.00 -6,793.20 0.3 5,596.40 3.43 Total Taxable Municipal Issues $4,541,094.15 $4,732,590.07 -$191,495.92 8.5 $77,203.85 Total Taxable Bonds $53,339,625.48 $55,654,082.35 -$2,314,456.87 99.7 $828,770.52 Total Assets $53,502,642.02 $55,817,098.89 -$2,314,456.87 100.0 $832,785.65 Estimated Current Yield 1.55 ASSET DETAIL MESSAGES Time of trade execution and trading party (if not disclosed) will be provided upon request. Publicly traded assets are valued in accordance with market quotations or valuation methodologies from financial industry services believed by us to be reliable. Assets that are not publicly traded may be reflected at values from other external sources. Assets for which a current value is not available may be reflected at a previous value or as not valued, at par value, or at a nominal value. Values shown do not necessarily reflect prices at which assets could be bought or sold. Values are updated based on internal policy and may be updated less frequently than statement generation. Cost adjustments made to previously reported sales to reflect the impact of IRS wash sale rules may result in adjustments to reported year-to-date losses. Consequently, this period's beginning cost basis may differ from the basis reported in the prior period. The gain and loss figures reported on this statement are provided for informational purposes only and should not be used for tax reporting purposes. Please consult with your tax or legal advisor for questions concerning your personal tax or financial situation. 315 2080 00- -M -UD-U8 -278-01 0334500-00-00913-01 embank RIVERSIDE COUNTY TRANS COMM Page 17 of 32 ACCOUNT NUMBER: 001050990415 September 1, 2022 to September 30, 2022 TRANSACTION DETAIL Date Income Principal Posted Activity Description Cash Cash Tax Cost Beginning Balance 09/01/2022 $5,666,787.65 09/01/22 Purchase Purchased 30,000 Par Value Of U S Treasury Nt 3.125% 8/31/24 Trade Date 8/30/22 Purchased Through Citigroup Global Markets Inc. Swift External Ref#: 11456270 30,000 Par Value At 99.58983333 % 09/01/22 Purchase Accrued Interest Paid Accrued Interest On Purchase Of U S Treasury Nt 3.125% 8/31/24 Income Debit 2.69- USD 09/01/22 Purchase Purchased 1,895,000 Par Value Of U S Treasury Nt 3.125% 8/15/25 Trade Date 8/31/22 Purchased Through Citigroup Global Markets Inc. Swift External Ref#: 11469077 1,895,000 Par Value At 98.97656253 % 09/01/22 Purchase Accrued Interest Paid Accrued Interest On Purchase Of U S Treasury Nt 3.125% 8/15/25 Income Debit 2,735.65- USD 09/01/22 Sale 09/01/22 Sell Accrued Interest 09/01/22 Return of Capital Sold 121,632.42 Par Value Of Captial One Prime 1.600% 11/15/24 Trade Date 8/30/22 Sold Through Bnp Paribas Sec Corp Swift External Ref#: 11456370 121,632.42 Par Value At 99.12500327 % Received Accrued Interest On Sale Of Captial One Prime 1.600% 11/15/24 Income Credit 86.49 USD Amortized Premium On U S Treasury Nt 0.125% 1/31/23 Fed Basis Decreased By 10.47 USD To 2,735,111.06 USD 9/1/22 Current Year Amortization -2.69 -2,735.65 86.49 -$5,666,787.65 -29,876.95 $55,808,019.88 29,876.95 -1,875,605.86 1,875,605.86 120,568.14 -121,606.57 -10.47 316 2080 00- -M -UD-U8 -278-01 0334500-00-00913-01 embank RIVERSIDE COUNTY TRANS COMM Page 18 of 32 ACCOUNT NUMBER: 001050990415 September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Posted Activity Description Cash Cash Tax Cost 09/01/22 Sale 09/01/22 Sell Accrued Interest 09/01/22 Return of Capital 09/01/22 Sale 09/01/22 Sale 09/01/22 Sale 09/01/22 Asset Income 09/01/22 Asset Income 09/01/22 Asset Income Sold 815,000 Par Value Of U S Treasury Nt 0.125% 1/31/23 Trade Date 8/31/22 Sold Through Bnkofmont,Chbrnch/Cm Swift External Ref#: 11468989 815,000 Par Value At 98.75390675 % Received Accrued Interest On Sale Of U S Treasury Nt 0.125% 1/31/23 Income Credit 88.59 USD Amortized Premium On San Diego Ca 3.250% 9/01/22 Fed Basis Decreased By 991.49 USD To 250,000.00 USD 9/1/22 Current Year Amortization Matured 250,000 Par Value Of San Diego Ca 3.250% 9/01/22 Trade Date 9/1/22 250,000 Par Value At 100 % Matured 250,000 Par Value Of Mountain View Ca 1.043% 9/01/22 Trade Date 9/1/22 250,000 Par Value At 100 % Matured 330,000 Par Value Of Glendale Ca 1.041% 9/01/22 Trade Date 9/1/22 330,000 Par Value At 100 % 88.59 Interest Earned On 2,062.50 Cummins Inc 0.750% 9/01/25 0.00375 USD/$1 Pv On 550,000 Par Value Due 9/1/22 Interest Earned On 1,717.65 Glendale Ca 1.041% 9/01/22 0.005205 USD/$1 Pv On 330,000 Par Value Due 9/1/22 Interest Earned On Mountain View Ca 1.043% 9/01/22 0.005215 USD/$1 Pv On 250,000 Par Value Due 9/1/22 1,303.75 804,844.34 -815,042.49 -991.49 250,000.00 -250,000.00 250,000.00 -250,000.00 330,000.00 -330,000.00 317 2080 00- -M -UD-U8 -278-01 0334500-00-00913-01 embank RIVERSIDE COUNTY TRANS COMM Page 19 of 32 ACCOUNT NUMBER: 001050990415 September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Posted Activity Description Cash Cash Tax Cost 09/01/22 Asset Income 09/01/22 Asset Income 09/02/22 Asset Income 09/06/22 Free Deliver 09/07/22 Sale 09/07/22 Sell Accrued Interest 09/07/22 Fed Tax Cost Adjust 09/07/22 Fed Tax Cost Adjust Interest Earned On San Diego Ca 3.250% 9/01/22 0.01625 USD/$1 Pv On 250,000 Par Value Due 9/1/22 Interest Earned On First Am Govt Ob Fd CI Y Interest From 8/1/22 To 8/31/22 Interest Earned On Spire Missouri 0.53871% 12/02/24 0.005538 USD/$1 Pv On 225,000 Par Value Due 9/2/22 Distributed 0.01 Par Value Of Captial One Prime 1.600% 11/15/24 Valued At 0.01 USD Market Value Of 0.01 USD Sold 270,000 Par Value Of U S Treasury Nt 3.125% 8/15/25 Trade Date 9/6/22 Sold Through Nomura Securities/Fix Income Swift External Ref#: 11510364 270,000 Par Value At 98.76171852 % Received Accrued Interest On Sale Of U S Treasury Nt 3.125% 8/15/25 Income Credit 527.34 USD Fed Basis Of U S Treasury Nt 3.125% 8/15/25 Adjusted By 727.74- USD Old: 267,384.38 USD/New: 266,656.64 USD Fixed Fedrl Tx Cst From $267384.38 To $266656.64 Wash Adjustment Sale Fed Basis Of U S Treasury Nt 3.125% 8/15/25 Adjusted By 727.74 USD Old: 267,236.72 USD/New: 267,964.46 USD Fixed Fedrl Tx Cst From $267236.72 To $267964.46 Wash Adjustment Purchase 4,062.50 1,348.50 1,245.99 527.34 -0.01 266,656.64 -266,656.64 -727.74 727.74 318 2080 00- -M -UD-U8 -278-01 0334500-00-00913-01 ti embank RIVERSIDE COUNTY TRANS COMM Page 20 of 32 ACCOUNT NUMBER: 001050990415 September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Posted Activity Description Cash Cash Tax Cost 09/08/22 Sale 09/08/22 Sell Accrued Interest 09/09/22 Purchase 09/12/22 Sale 09/12/22 Asset Income 09/15/22 Asset Income 09/15/22 Sale 09/15/22 Asset Income 09/15/22 Sale Sold 225,000 Par Value Of Spire Missouri 0.53871% 12/02/24 Trade Date 9/6/22 Sold Through J.P. Morgan Securities LLC Swift External Ref#: 11508758 225,000 Par Value At 99.196 % Received Accrued Interest On Sale Of Spire Missouri 0.53871% 12/02/24 Income Credit 104.63 USD Purchased 270,000 Par Value Of Walmart Inc 3.900% 9/09/25 Trade Date 9/6/22 Purchased Through Barclays Capital Inc. Fixed In Swift External Ref#: 11511206 270,000 Par Value At 99.93 % Matured 355,000 Par Value Of Apple Inc 1.700% 9/11/22 Trade Date 9/11/22 355,000 Par Value At 100 % Interest Earned On Apple Inc 1.700% 9/11/22 0.0085 USD/$1 Pv On 355,000 Par Value Due 9/11/22 Interest Earned On Toyota Auto 1.910% 9/15/23 $0.00159/Pv On 21,652.44 Pv Due 9/15/22 Paid Down 10,116.63 Par Value Of Toyota Auto 1.910% 9/15/23 Trade Date 9/15/22 Interest Earned On Drive Auto 0.650% 7/15/25 $0.00054/Pv On 162,842.75 Pv Due 9/15/22 Paid Down 44,693.44 Par Value Of Drive Auto 0.650% 7/15/25 Trade Date 9/15/22 104.63 3,017.50 34.46 88.21 223,191.00 -225,000.00 -269,811.00 269,811.00 355,000.00 -354,939.65 10,116.63 -10,116.55 44,693.44 -44,689.32 319 2080 00- -M -UD-U8 -278-01 0334500-00-00913-01 embank RIVERSIDE COUNTY TRANS COMM Page 21 of 32 ACCOUNT NUMBER: 001050990415 September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Posted Activity Description Cash Cash Tax Cost 09/15/22 Asset Income 09/15/22 Sale 09/15/22 Asset Income 09/15/22 Sale 09/15/22 Asset Income 09/15/22 Purchase 09/15/22 Asset Income 09/15/22 Return of Capital 09/15/22 Asset Income 09/15/22 Asset Income Interest Earned On Honda Auto 1.780% 8/15/23 $0.00148/Pv On 27,848.88 Pv Due 9/15/22 Paid Down 10,866.69 Par Value Of Honda Auto 1.780% 8/15/23 Trade Date 9/15/22 Interest Earned On John Deere Owner 1.100% 8/15/24 $0.00092/Pv On 172,755.45 Pv Due 9/15/22 Paid Down 17,872.61 Par Value Of John Deere Owner 1.100% 8/15/24 Trade Date 9/15/22 Interest Earned On Santander Auto Rec 1.940% 11/17/25 $0.00162/Pv On 550,000.00 Pv Due 9/15/22 Purchased 567,000 Par Value Of U S Treasury Nt 3.500% 9/15/25 Trade Date 9/13/22 Purchased Through Natwest Mkts Secs/Fixed Income Swift External Ref#: 11565895 567,000 Par Value At 99.28125044 % Interest Earned On Abbott Laboratories 2.950% 3/15/25 0.01475 USD/$1 Pv On 500,000 Par Value Due 9/15/22 Amortized Premium On Abbott Laboratories 2.950% 3/15/25 Fed Basis Decreased By 4,215.63 USD To 519,292.92 USD 9/15/22 Current Year Amortization Interest Earned On New York ST 0.887% 3/15/25 0.004435 USD/$1 Pv On 400,000 Par Value Due 9/15/22 Interest Earned On U S Treasury Nt 0.375% 9/15/24 0.001875 USD/$1 Pv On 985,000 Par Value Due 9/15/22 41.31 158.36 889.17 7,375.00 1,774.00 1,846.88 10,866.69 -10,866.60 17,872.61 -17,871.52 -562,924.69 562,924.69 -4,215.63 320 2080 00- -M -UD-U8 -278-01 0334500-00-00913-01 embank RIVERSIDE COUNTY TRANS COMM Page 22 of 32 ACCOUNT NUMBER: 001050990415 September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Posted Activity Description Cash Cash Tax Cost 09/16/22 Asset Income 09/26/22 Asset Income 09/26/22 Return of Capital 09/26/22 Asset Income 09/26/22 Sale 09/26/22 Asset Income 09/26/22 Return of Capital 09/26/22 Asset Income 09/26/22 Return of Capital 09/26/22 Sale Interest Earned On Jpmorgan Chase Co 0.697% 3/16/24 0.003485 USD/$1 Pv On 565,000 Par Value Due 9/16/22 Interest Earned On FNMA Gtd Remic 3.056% 6/25/24 Penalty Payment Amortized Premium On F H L M C Mltcl Mt 3.320% 2/25/23 Fed Basis Decreased By 996.74 USD To 459,342.48 USD 9/25/22 Current Year Amortization Interest Earned On FHLMC Mite' Mt 3.320% 2/25/23 $0.00277/Pv On 456,882.79 Pv Due 9/25/22 Paid Down 9,969.76 Par Value Of F H L M C Mltcl Mt 3.320% 2/25/23 Trade Date 9/25/22 Interest Earned On F H L M C Mltcl Mtg 3.060% 7/25/23 $0.00255/Pv On 490,000.00 Pv Due 9/25/22 Amortized Premium On F H L M C Mltcl Mtg 3.060% 7/25/23 Fed Basis Decreased By 607.25 USD To 495,935.33 USD 9/25/22 Current Year Amortization Interest Earned On F H L M C Mltcl Mt 2.522% 1/25/23 $0.00210/Pv On 54,447.53 Pv Due 9/25/22 Amortized Premium On F H L M C Mltcl Mt 2.522% 1/25/23 Fed Basis Decreased By 6.40 USD To 54,472.72 USD 9/25/22 Current Year Amortization Paid Down 22,980.19 Par Value Of F H L M C Mltcl Mt 2.522% 1/25/23 Trade Date 9/25/22 1,969.03 18.87 1,264.04 1,249.50 114.43 -996.74 9,969.76 -10,023.44 -607.25 -6.40 22,980.19 -22,990.82 321 2080 ATTACHMENT 4 embank 00- -M -UD-U8 -278-01 0334500-00-00913-01 RIVERSIDE COUNTY TRANS COMM Page 23 of 32 ACCOUNT NUMBER: 001050990415 September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Posted Activity Description Cash Cash Tax Cost 09/26/22 Asset Income 09/26/22 Return of Capital 09/26/22 Asset Income 09/26/22 Asset Income 09/26/22 Return of Capital 09/26/22 Sale 09/26/22 Asset Income 09/26/22 Sale 09/26/22 Fee 09/26/22 Asset Income 09/27/22 Asset Income Interest Earned On F H L M C Mltcl Mt 3.310% 5/25/23 $0.00276/Pv On 510,000.00 Pv Due 9/25/22 Amortized Premium On F H L M C Mltcl Mt 3.310% 5/25/23 Fed Basis Decreased By 1,227.54 USD To 519,582.76 USD 9/25/22 Current Year Amortization Interest Earned On F H L M C Mltcl 2.07452% 8/26/24 $0.00173/Pv On 130,252.47 Pv Due 9/25/22 Interest Earned On FNMA Gtd Remic 3.056% 6/25/24 $0.00255/Pv On 218,366.00 Pv Due 9/25/22 Amortized Premium On FNMA Gtd Remic 3.056% 6/25/24 Fed Basis Decreased By 347.52 USD To 225,529.35 USD 9/25/22 Current Year Amortization Paid Down 14,793.32 Par Value Of FNMA Gtd Remic 3.056% 6/25/24 Trade Date 9/25/22 Interest Earned On Bmw Vehicle Owner 1.920% 1/25/24 $0.00160/Pv On 28,230.20 Pv Due 9/25/22 Paid Down 10,764.53 Par Value Of Bmw Vehicle Owner 1.920% 1/25/24 Trade Date 9/25/22 1,406.75 225.18 556.11 45.17 -1,227.54 -347.52 14,793.32 -15,278.60 10,764.53 -10,763.08 Trust Fees Collected -562.83 Charged For Period 08/01/2022 Thru 08/31/2022 Interest Earned On Ppl Elec Utils 2.31665% 6/24/24 0.00592 USD/$1 Pv On 200,000 Par Value Due 9/24/22 Interest Earned On Nike Inc Sr Nt 2.400% 3/27/25 0.012 USD/$1 Pv On 20,000 Par Value Due 9/27/22 322 1,184.07 240.00 2080 00- -M -UD-U8 -278-01 0334500-00-00913-01 ti embank RIVERSIDE COUNTY TRANS COMM Page 24 of 32 ACCOUNT NUMBER: 001050990415 September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Posted Activity Description Cash Cash Tax Cost 09/30/22 Purchase 09/30/22 Asset Income 09/30/22 Asset Income 09/30/22 Purchase Purchased 370,000 Par Value Of FHLMCMTN4.750%9/30/25 Trade Date 9/14/22 Purchased Through Wells Fargo Securities, LLC Swift External Ref#: 11579277 370,000 Par Value At 100 % Interest Earned On U S Treasury Nt 0.125% 3/31/23 0.000625 USD/$1 Pv On 3,600,000 Par Value Due 9/30/22 Interest Earned On U S Treasury Nt 2.250% 3/31/24 0.01125 USD/$1 Pv On 870,000 Par Value Due 9/30/22 Purchased 860,000 Par Value Of U S Treasury Nt 3.500% 9/15/25 Trade Date 9/29/22 Purchased Through Nomura Securities/Fix Income Swift External Ref#: 11727232 860,000 Par Value At 98.0507814 % 09/30/22 Purchase Accrued Interest Paid Accrued Interest On Purchase Of U S Treasury Nt 3.500% 9/15/25 Income Debit 1,247.24- USD 09/30/22 Return of Capital Amortized Premium On U S Treasury Nt 0.125% 1/31/23 Fed Basis Decreased By 15.23 USD To 1,920,053.34 USD 9/30/22 Current Year Amortization 09/30/22 Sale Sold 1,075,000 Par Value Of U S Treasury Nt 0.125% 1/31/23 Trade Date 9/29/22 Sold Through Citadel Securities LLC Swift External Ref#: 11727167 1,075,000 Par Value At 98.82031256 % 09/30/22 Sell Accrued Interest Received Accrued Interest On Sale Of U S Treasury Nt 0.125% 1/31/23 Income Credit 222.74 USD 2,250.00 9,787.50 -1,247.24 222.74 -370,000.00 370,000.00 -843,236.72 843,236.72 -15.23 1,062,318.36 -1,075,050.89 Purchase Combined Purchases For The Period 9/ 1/22 - 9/30/22 Of -1,090,477.35 1,090,477.35 First Am Govt Ob Fd CI Y 323 2080 00- -M -UD-U8 -278-01 0334500-00-00913-01 embank RIVERSIDE COUNTY TRANS COMM Page 25 of 32 ACCOUNT NUMBER: 001050990415 September 1, 2022 to September 30, 2022 TRANSACTION DETAIL (continued) Date Income Principal Posted Activity Description Cash Cash Tax Cost Sale Combined Sales For The Period 9/ 1/22 - 9/30/22 Of 1,193,539.11 -1,193,539.11 First Am Govt Ob Fd CI Y Ending Balance 09/30/2022 $5,711,108.29 45,711,108.29 $55,817,098.89 324 ATTACHMENT 5 Riverside County TMnsportation Commission SHORT DURATION FIXED INCOME NOVEMBER 2, 2022 Table of Contents MetLife Investment Management Overview Market Review Portfolio Review Appendix MetLife Investment Management 326 1. MetLife Investment Management Overview A MetLife Investment Management 327 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. MIM Highlights Total Assets Under Management of $590.9 billion2 as of June 30, 2022 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 Dublin qv London Tokyo Hong Kong S.A.R. 1.As of June 30, 2022, 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), MIM I LLC, and MetLife Investment Management Europe Limited. 2.As of June 30, 2022. At estimated fair value. See Appendix — End Notes for additional information. 3.IIIustration shown depicts locations of select MIM regional offices, chosen in MIM's discretion; not a complete representation of MIM's regional offices. MetLife Investment Management 4 328 Short Duration Fixed Income Team Portfolio Management Scott Pavlak, CFA Juan Peruyero Responsibility Head of Short Duration Fixed Income Portfolio Manager Industry Experience (yrs) 34 21 Portfolio Management Support David Wheeler, CFA Steve Kelly, CFA Kimberley Slough John Palphreyman, CFA Phil Tran Credit Credit Municipals Structured Products Treasuries, Agencies, Money Markets 36 35 29 23 19 Trading Dana Cottrell Thomas McClintic Jason Valentino 111 # of Traders Head of Investment Grade Trading Head of High Yield Trading Head of Structured Products Trading 5 Average Industry Experience rs 2 16 26 8 17 MetLife Investment Management Research ■ Brian Funk, CFA Ian Bowman Park Benjamin, CFA Scott O'Donnell Richard Davis, CFA Zach Bauer, CFA Susan Young Brent Garrels Joseph Gankiewicz, CFA Jiming Tao, CFA Francisco Paez, CFA Priya Desai Meena Pursnani Cathy Oh Angela Best Er Head of Credit Research Analyst's verage Industry Experience (yrs) 25 Sector Leader — Consumer & Healthcare 7 17 Sector Leader— Energy, Basics, Materials 6 13 Sector Leader — Financials 11 16 Sector Leader— Industrials 6 15 Sector Leader— Telecom, Media, Technology Sector Leader — Utilities & Midstream 8 16 8 14 Sector Leader — Special Situations 2 27 Sector Leader — Municipals Credit Strategy 7 21 i Head of Structured Products Research Sector Leader — ABS Sector Leader— CMBS Sector Leader - RMBS Sector Leader — CLO 1 # of Analysts 20 Average Industry Experience (yrs) 25 2 17 2 23 1 20 2 14 329 5 2. Market Review A MetLife Investment Management 330 Yields (%) As of September 30, 2022 4.50% 4.00% 3.50% 3.27 3.00% 2.50% 2.00% 1.67 1.50% 1.00% 0.50% 0.07 0.04 0.00% U.S. Treasury 3 -Month Source: Bloomberg 0.73 0.12 III 2.96 4.28 4.29 U.S. Treasury 2 -Year 0.17 • 12/31/2020 12/31/2021 MetLife Investment Management 3.01 0.96 1 U.S. Treasury 3 -Year 0.36 ■ 4.09 0.92 I 1.51 3.02 3.83 U.S. Treasury U.S. Treasury 5 -Year 10 -Year • 6/30/2022 • 9/30/2022 331 MOVE Index Interest Rate Volatility As of September 30, 2022 150 130 110 90 70 50 30 2017 2018 2019 2020 2021 2016 Source: Bloomberg 1 MetLife Investment Management 332 8 U.S. Government Securities Liquidity Index As of September 30, 2022 3.50 3.00 2.50 2.00 1.50 1.00 0.50 2016 Source: Bloomberg 2017 MetLife Investment Management 2018 2019 2020 2021 2.86 333 9 Yield Curves As of September 30, 2022 5 -Year Less 3 -Month 400 300 .0 200 d_ u) 100 as m 0 -100 im! 0P\ 00' 00 oix 000g\ 0�b °� 00 Q;\ ff' 00 ()1>t c§`) 00 00 O°) r\O 1\tx 1.\<0 NCO '� O '\°b N0 N0 NCB NC) NC) ,0 NCb N0 N0 ,LO rO rO LO L �O rP ,1O (O �O �O ,P (O rO rO LO rO �O LOS' 99' 5 -Year Less 3 -Month Fed Tightening Recession O 82 10 -Year Less 2 -Year 275 225 c 175 a° 125 ') 75 c� ca 25 -25 -75 r 0� cb 00 05` 0� o A 035 00 o 00 0� 00' 00 0� • 10 -Year Less 2 -Year Source: Bloomberg MetLife Investment Management Pt) OHO 6 Ocb O°� N0 NN '��' NO Nt` � N0 � Nc'b N0 0 �O �O `O �O �O `O (O `O `O `O (O rO (O rig X00' Fed Tightening Recession -45 334 10 Federal Reserve Balance Sheet As of September 30, 2022 0) c 0 10,000 9,000 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 ■ Treasuries • Mortgages ■ Other Billions 12/31/2008 12/31/2019 12/31/2020 12/31/2021 4/30/2022 9/30/2022 Treasuries $475,961 $2,321,676 $4,688,906 $5,651,960 $5,763,654 $5,672,767 Mortgages $0 $1,420,886 $2,066,409 $2,635,024 $2,729,416 $2,707,731 Other $1,792,9591 $464,681 $684,026 $542,075 $511,269 $476,936 Total $2,268,920 $4,207,243 $7,439,341 $8,829,059 $9,004,339 $8,857,434 'Includes Term Auction Credit ($450B), CP Funding Facility ($332B), Other Loans ($187B) and Other Federal Reserve Assets ($622B) Source: Federal Reserve MetLife Investment Management 335 11 Congressional Budget Office As of May 31, 2022 $600 $500 $400 $300 $200 $100 Net Interest Expense q° (1° ti° ti° 4Debt Held By The Public $30,000 $20,000 $10,000 $0 ($ Billions) 1973 1983 1993 2003 2008 2009 2011 2013 2015 2017 2019 2020 2021 20221 20241 231 246 601 808 1,154 1,409 1,782 2,160 2,524 2,983 2,105 3,518 2,303 3,603 2,775 3,455 3,250 3,692 3,316 3,463 3,421 4,047 4,836 4,447 6,554 6,822 5,804 4,924 6,060 Social Security Medicare Medicaid Income Security Retirement & Disability Defense Other Net Interest 48 9 5 14 22 77 53 17 169 302 470 56 143 274 19 76 161 64 117 196 62 89 132 210 292 405 140 192 369 90 199 153 612 456 201 261 173 612 414 253 678 500 251 350 187 657 708 495 187 230 725 808 560 585 275 265 404 340 215 233 699 626 377 221 882 634 350 301 254 583 465 223 939 702 375 294 268 590 551 263 1,038 1,090 775 912 409 458 303 1,051 285 293 676 714 584 1,690 375 345 1,129 1,212 1,409 868 941 1,086 521 589 1,376 561 304 373 742 755 1,531 352 974 545 373 397 819 905 525 -) or Surplus Total -15 -208 -255 -378 ha -1,413 -1,300 -680 -442 -665 -984 -2,775 -1,136 Debt Held by the Public 341 1,137 3,248 3,913 5,803 7,545 10,128 11,983 13,117 14,665 16,801 21,017 22,284 24,173 26,217 U.S. Treasury 5 -Year Yield (%) 6.83 11.53 5.21 3.25 1.55 2.68 0.83 1.74 1.76 2.21 1.69 0.36 1.26 Indicates estimates 2 As of 9/30/2022 Source: Congressional Budget Office MetLife Investment Management 336 12 Federal Reserve Projections 2022 2023 2024 2025 December -19 Projection December -20 Projection December -21 Projection March -22 Projection June -22 Projection September -22 Projection 1.8% 3.2% 4.0% 2.8% 1.7% N/A 2.4% 2.2% 2.2% 1.7% 1.2% N/A N/A 2.0% 2.0% 1.9% 1.7% N/A N/A N/A N/A N/A 1.8% PCE Inflation December -19 Projection December -20 Projection December -21 Projection March -22 Projection June -22 Projection September -22 Projection 2.0% 1.9% 2.6% 4.3% 5.2% N/A 2.0% 2.3% 2.7% 2.6% 2.8% N/A N/A 2.1% 2.3% 2.2% 2.3% N/A N/A N/A N/A N/A 2.0% Core PCE Inflation December -19 Projection December -20 Projection December -21 Projection March -22 Projection June -22 Projection September -22 Projection 2.0% 1.9% 2.7% 4.1% N/A 2.0% 2.3% 2.6% 2.7% 3.1% N/A N/A 2.1% 2.3% 2.3% 2.3% N/A N/A N/A N/A N/A 2.1% Unemployment Rate December -19 Projection December -20 Projection December -21 Projection March -22 Projection June -22 Projection September -22 Projection Source: Federal Reserve MetLife Investment Management 3.7% 4.2% 3.5% 3.5% 3.7% N/A 3.7% 3.5% 3.5% 3.9% 4.4% N/A N/A 3.5% 3.6% 4.1% 4.4% N/A N/A N/A N/A N/A 4.3% 337 13 Real GDP - as of September 30, 2022 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% -1.0% -2.0% -3.0% 2006 2.8% 2007 2.0% 2008 0.1% 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Year Quarter 1 -2.6% 2.7% 1.5% 2.3% 1.8% 2.3% 2.7% 1.7% 2.2% 2.9% 2.3% -2.8% Real GDP QoQ (%) Consumer Spending Fixed Investment Government Spending Net Exports 5.9% Inventories 2018 1Q 2.80 1.80 0.93 0.13 -0.18 0.13 2.9% 2Q 2.80 1.98 1.06 0.49 0.20 -0.91 3Q 2.90 1.73 0.28 0.46 -1.47 1.91 4Q 0.70 1.18 0.17 0.02 -0.43 -0.21 2019 10 2.20 0.26 0.15 0.83 0.37 0.57 2.3% 2Q 2.70 1.73 1.07 0.92 -0.37 -0.62 3Q 3.60 2.27 0.71 0.58 0.28 -0.24 4Q 1.80 1.55 -0.24 0.41 1.30 -1.24 2020 10 -4.60 -4.25 -0.54 0.57 -0.05 -0.35 -2.8% 2Q -29.90 -23.07 -5.30 1.57 1.30 -4.35 3Q 35.30 26.34 5.12 -0.97 -2.74 7.57 4Q 3.90 2.53 2.76 -0.01 -1.68 0.30 2021 10 6.30 6.98 1.70 1.18 -1.02 -2.52 5.9% 2Q 7.00 7.84 1.05 -0.54 -0.60 -0.75 3Q 2.70 1.98 -0.18 -0.02 -1.08 1.96 4Q 7.00 2.14 0.12 -0.16 -0.16 5.01 2022 10 -1.60 0.91 0.83 -0.40 -3.13 0.15 2Q -0.60 1.38 -0.92 -0.29 1.16 -1.91 3Q 2.60 0.97 -0.89 0.42 2.77 -0.70 Average (2011-2022) 2.28 Source: Bureau of Economic Analysis MetLife Investment Management 1.67 0.68 0.05 -0.20 0.08 338 14 U.S. Personal Savings Rate As of August 31, 2022 35.0% 30.0% 25.0% 20.0% 15.0% 10.0% Year over Year 5.0% 0.0% Dec -18 Source: Bloomberg Jun -19 Dec -19 Jun -20 Dec -20 Jun -21 Dec -21 Jun -22 1 MetLife Investment Management 339 15 Case-Shiller and Freddie Mac 3oyr Mortgage Rate As of September 30, 2022 Year over Year Price Change 25% 20% 15% 10% 5% — Source: Case-Shiller, Freddie Mac 7.0% 6.7% 6.5% 6.0% 5.5% 5.0% 13.1% 4.5% 4.0% 3.5% 3.0% 2.5% O O G,yO �0,'� > ,el> el> `0`L `L `L 50 p0 �`a �J 509 p0G �`a � c Case-Shiller Home Prices (LHS) —Freddie Mac 30 -Year Commitment Rate (RHS) ,k MetLife Investment Management 340 16 Inflation As of September 30, 2022 • escription Period Sep- Aug- Jul- Jun- May- Apr- Mar- Feb- Jan- Dec- Nov- Oct- Sep - 22 22 22 22 22 22 22 22 22 21 21 21 21 PCE Deflator Core Deflator Deflator Core Deflator MoM N/A MoM N/A YoY N/A YoY N/A 0.3 0.6 6.2 4.9 -0.1 1.0 0.6 0.2 1.0 0.6 0.5 0.5 0.6 0.6 0.3 0.0 0.6 0.4 0.3 0.4 0.4 0.5 0.5 0.5 0.4 0.2 6.4 7.0 6.5 6.4 6.8 6.4 6.1 6.0 5.9 5.2 4.7 4.7 5.0 4.9 5.0 5.4 5.4 5.2 5.0 4.8 4.3 3.9 All Items All Items ex Food & Energy All Items All Items ex Food & Energy Source: Department of Labor Statistics MoM MoM YoY YoY MetLife Investment Management 0.4 0.6 8.2 6.6 0.1 0.0 1.3 1.0 0.3 1.2 0.8 0.6 0.6 0.7 0.9 0.4 0.6 0.3 0.7 0.6 0.6 0.3 0.5 0.6 0.6 0.5 0.6 0.3 8.3 8.5 9.1 8.6 8.3 8.5 7.9 7.5 7.0 6.8 6.2 5.4 6.3 5.9 5.9 6.0 6.2 6.5 6.4 6.0 5.5 4.9 4.6 4.0 341 17 Inflation Expectations (University of Michigan) As of October 31, 2022 1 -Year Ahead 6.0% 5.5% 5.0% 4.5% 4.0% 3.5% 3.0% 2.5% 2.0% Dec -18 Jun -19 Dec -19 Jun -20 Dec -20 Jun -21 Dec -21 Jun -22 5-10 Years Ahead 3.3% 3.1% 2.9% 2.7% 2.5% 2.3% 2.1% Dec -18 Source: University of Michigan Jun -19 MetLife Investment Management Dec -19 Jun -20 Dec -20 Jun -21 Dec -21 Jun -22 342 18 Layoffs 8z JOLTS Job Openings As of September 30, 2022 12,000 11,000 10,000 9,000 8,000 7,000 6,000 Dec -20 Jun -21 Dec -21 Jun -22 JOLTS Job Openings (LHS) Challenger Job Cuts (RHS) Source: Bureau of Labor Statistics, Challenger, Gray and Christmas, Inc. MetLife Investment Management 150 100 10,053 068% 50 0 -50 -100 343 19 ICE BofA Corporate 1-5 Year Index As of September 30, 2022 Basis Points 125 115 105 95 85 75 65 55 45 Mar -21 Jun -21 Sep -21 Dec -21 Mar -22 Jun -22 Dec -20 OAS (bps) 120 Sep -22 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Corporate(1-5) 174 70 61 65 62 196 639 166 136 227 110 89 99 121 96 61 114 61 60 57 120 Financial(1-5) 165 51 50 57 56 212 663 204 158 308 126 93 96 104 100 60 116 63 62 61 137 Industrial(1-5) 176 86 73 75 69 181 624 135 116 164 96 85 103 134 92 61 112 59 57 52 103 Utility(1-5) 236 79 63 73 71 175 576 155 131 169 110 99 89 120 101 64 126 70 63 66 119 Past performance is not indicative of future results. Source: ICE Data Services MetLife Investment Management 344 20 3. Portfolio Review A MetLife Investment Management 345 Portfolio Review - 2017 Toll Revenue I -i5 Project Fund As of September 30, 2022 Characteristics Yield (%) Effective Duration (years) Average Quality Fixed / Floating or Variable (%) Market Value ($) Sector Distribution (%) U.S. Treasury Agency Corporate RMBS / CMBS ABS Municipal Money Markets 1. Past performance is not indicative of future results. MetLife Investment Management 3/31/22 1.45 0.59 Aa3 68 / 32 $22,929,983 3/31/22 18 0 37 8 22 8 7 6/30/22 2.82 0.58 Aa3 79/21 $22,904,071 6/30/22 15 0 37 12 22 9/30/22 4.19 0.49 Aa2 72 / 28 $22,944,597 9/30/22 22 3 31 11 14 8 13 6 6 346 22 Portfolio Review - 2017 Toll Revenue I -i5 Ramp Up Reserve As of September 30, 2022 Characteristics Yield (%) Effective Duration (years) Average Quality Fixed / Floating or Variable (%) Market Value ($) Sector Distribution (%) U.S. Treasury Agency RMBS CMBS Money Markets 1. Past performance is not indicative of future results. MetLife Investment Management 3/31/22 1.78 1.41 Aaa 81 / 19 $15,384,285 3/31/22 72 4 17 6 1 6/30/22 2.90 1.63 Aaa 97/3 $15,326,470 6/30/22 68 5 16 11 9130/22 4.17 1.47 Aaa 98/2 $15,139,319 9/30/22 62 6 16 10 0 6 347 23 Portfolio Review - Debt Reserve Fund As of September 30, 2022 Characteristics Yield (%) Effective Duration (years) Average Quality Fixed / Floating or Variable (%) Market Value ($) Sector Distribution (%) U.S. Treasury Agency RMBS CMBS Money Markets 1. Past performance is not indicative of future results. MetLife Investment Management 3/31/22 1.55 1.75 Aaa 57 / 43 $12,238,283 3/31/22 59 4 17 19 1 6/30/22 2.66 1.67 Aaa 67/33 $12,206,122 6/30/22 58 4 17 21 9/30/22 4.13 1.64 Aaa 68 / 32 $12,242,526 9/30/22 57 5 15 22 0 1 348 24 Portfolio Review - 2021 Series B Reserve Account As of September 30, 2022 Characteristics 3/31/22 6/30/22 9/30/22 Yield (%) Effective Duration (years) Average Quality Fixed / Floating or Variable (%) Market Value ($) 1.27 0.71 Aa1 50 / 50 $36,133,053 2.80 1.19 Aa1 68/32 $36,181,846 4.17 1.54 Aa1 74/26 $36,593,563 Sector Distribution (%) 3/31/22 6/30/22 9/30/22 U.S. Treasury Agency Corporate RMBS CMBS ABS Municipal Money Markets 1. Past performance is not indicative of future results. MetLife Investment Management 35 1 13 7 5 29 9 1 17 2 21 9 16 16 2 17 13 24 26 15 9 6 0 7 349 25 Portfolio Review - 2021 Series C Reserve Account As of September 30, 2022 Characteristics Yield (%) Effective Duration (years) Average Quality Fixed / Floating or Variable (%) Market Value ($) Sector Distribution (%) U.S. Treasury Agency Corporate RMBS CMBS ABS Municipal Money Markets 1. Past performance is not indicative of future results. MetLife Investment Management 3/31/22 2.06 1.96 Aaa 83/17 $7,210,141 3/31/22 1 1 11 33 25 20 9 0 6/30/22 2.99 1.74 Aa1 85/15 $7,157,260 6/30/22 3 2 12 30 26 9/30/22 4.36 1.88 Aa1 85/15 $7,269,186 9/30/22 14 2 17 27 25 18 10 9 5 0 0 350 26 Portfolio Performance' As of September 30, 2022 Portfolio/Benchmark Returns (%)1 2017 Toll Revenue 1-15 Project Fund (Gross) Duration (Years) 0.49 QTD 0.18 YTD - 0.38 1 -Year -0.42 Annualized Since Inception Portfolio Inception 8/1/2017 1 2017 Toll Revenue 1-15 Ramp Up Reserve (Gross) 1.47 -1.22 - 3.31 -3.69 0.85 1/1/2018 Total Debt Reserve Fund (Gross) 1.64 -1.31 -3.41 -3.85 1.76 7/2/2013 Total 2021 Series B Reserve Account (Gross) 1.54 -1.03 -1.61 11/1/2021 Total 2021 Series C Reserve Account (Gross) 1.88 -1.48 -4.45 11/1/2021 ICE BofA U.S. Treasury Index 0-1 Year2 0.50 0.16 -0.16 -0.21 ICE BofA U.S. Treasury Index 0-2 Year2 0.98 -0.48 -1.81 -2.03 ICE BofA U.S. Treasury Index 1-3 Year2 1.83 -1.49 -4.33 -4.86 ICE BofA U.S. Treasury Index 3-7 Year2 4.41 -3.79 -10.34 -11.08 1. Past performance is not indicative of future results. Performance for periods greater than one year are annualized. The Since Inception performance returns of the portfolio is as of the first full month following the funding date. The performance benchmarks shown are the ICE BofA 0-1 Year U.S. Treasury Index tracks the performance of US dollar denominated sovereign debt publicly issued by the US government in its domestic market with maturities less than a year, 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, 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 the ICE BofA 3-7 Year U.S. Treasury Index, 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 are presented for discussion purposes only. 2 Prior to 1/1/2022 reflects 3:00pm pricing. h MetLife Investment Management 351 27 4. Appendix A MetLife Investment Management 352 Disclosures This material is intended for institutional investor, qualified investor and financial professional use only. Not suitable for use with general retail public. This document is being provided to you at your specific request. This document has been prepared by MetLife Investment Management, LLC (formerly, MetLife Investment Advisors, LLC), a U.S. Securities Exchange Commission -registered investment adviser. MetLife Investment Management, LLC is a subsidiary of MetLife, Inc. and part of MIM.' Registration with the SEC does not imply a certain level of skill or that the SEC has endorsed the investment advisor. MetLife, Inc. provides investment management services to affiliates and unaffiliated/third party clients through various subsidiaries. MetLife Investment Management ("MIM"), MetLife, Inc.'s institutional investment management business, 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. MIM has invested on behalf of unaffiliated/third party clients since 2009. 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. 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. All information has been presented in U.S. dollars. Actual returns may increase or decrease due to currency fluctuations. 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 as of the date indicated on the cover of this document unless otherwise specified 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. 1.As of September 30, 2022, 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. L1022026908[exp0123][All States] MetLife Investment Management 29 353 Disclaimers 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. MetLife Investment Management 354 30 End Notes Explanatory Note The following information is relevant to an understanding of our assets under management ("AUM"). Our definitions may differ from those used by other companies. Total Assets Under Management ("Total AUM") is comprised of GA AUM plus Institutional Client AUM (each, as defined below). General Account AUM ("GA AUM") is used by MetLife to describe assets in its general account ("GA") investment portfolio which are actively managed and stated at estimated fair value. GA AUM is 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 (including commercial, agricultural and residential) 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 deduction for encumbering debt) have been reclassified to exclude them from real estate equity and include them as commercial mortgage loans. Institutional Client AUM is comprised of SA AUM plus TP AUM (each, as defined below). MIM manages Institutional Client AUM in accordance with client guidelines contained in each investment contract ("Mandates"). Separate Account AUM ("SA AUM") is comprised of separate account investment portfolios of MetLife insurance companies, which are managed by MetLife and included in MetLife, Inc.'s consolidated financial statements at estimated fair value. Third Party AUM ("TP AUM") is comprised of non-proprietary assets managed by MetLife on behalf of unaffiliated/third party clients, which are stated at estimated fair value. Such non-proprietary assets are owned by unaffiliated/third-party clients and, accordingly, 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 December 31, 2020, which may be accessed through MetLife's Investor Relations web page at https://investor.metlife.com. MetLife Investment Management 355 31 A MetLife Investment Management © 2022 MetLife Services and Solutions, LLC, New York, NY 10166 - All Rights Reserved. 356 ATTACHMENT 6 Payden&Rygel QUARTERLY PORTFOLIO REVIEW Riverside County Transportation Commission 3rd Quarter 2022 PAYDEN.COM LOS ANGELES I BOSTON I LONDON I MILAN 357 MARKET MEMO From the desk (Pooh Payden: » » Thirty-nine years ago, Payden & Rygel opened its door for operation in downtown Los Angeles. A lot has changed, but then again, not much has changed! Like 39 years ago, inflation is quite high globally, and central banks are hiking rates to "whip inflation right now." Central bank rate hikes have resulted in the worst start to a year on record for bond and 60/40 "balanced" portfolios. Also, like in the early 1980s, the US dollar is strengthening. Since the world is more globalized than ever and the US dollar remains the world reserve currency, many developed and emerging economies are feeling the strain. What's different? Unlike during the early 1980s, unemployment rates are low or falling worldwide. We aren't (yet) in stagflation. Also, there is a more robust menu of options within the global fixed income and equity -income space for client portfolios. TOUGH MEDICINE: GLOBAL CENTRAL BANKS HAVE TO HIKE TO STOP INFLATION GLOBAL HEADLINE INFLATION (WEIGHTED AS SHARE OF GLOBAL CENTRAL BANKS HIKING A SHARE OF COUNTRIES' GLOBAL GDP) 10% 9% 8% 7% 6% 5% 4% 3% 2% 1% 0% 2015 2016 2017 2018 2019 2020 2021 2022 2015 2016 2017 2018 2019 2020 2021 2022 OR CUTTING RATES Inflation is a global problem 80% Almost every central — bank is hiking... 60% v► 40% Hiking 20% V 0% �� Q -20% -40% N -60% 80% Cutting -100% Source: Bloomberg Source: BIS, Payden Calculations MARKET THEMES FOR •3 Interest rates soared globally. In many countries, short-term rates (e.g., two-year note yields) rose more than longer -term rates, resulting in "inverted" yield curves. Most currencies weakened versus the U.S. dollar, highlighted by the euro's fall below parity and the British pound's drop to historical lows. Equities fell worldwide, led by Europe. Fixed income credit sectors outperformed government bonds, helped by strong demand for credit with higher overall yields. » Emerging market and sub -investment grade corporate bonds outpaced most asset classes, though investors preferred higher - quality issuers. » With persistently high inflation worldwide, most central banks will continue hiking interest rates in the year's final quarter. » Central banks may pause in 2023 to assess the effects of tighter monetary policy, giving financial markets a reprieve. 358 Riverside County Transportation Commission Portfolio Review and Market Update - 3rd Quarter 2022 PORTFOLIO CHARACTERISTICS (As of 9/30/2022) Portfolio Market Value $53.7 million Weighted Average Credit Quality AA+ Weighted Average Duration 1.57 years Weighted Average Yield to Maturity 4.32% SECTOR ALLOCATION 70% 60% 50% 40% 30% 20% 10% 0% 2812 DURATION DISTRIBUTION 60% 50% 40% 30% 20% go S� 5 10% re, ,y -c) o 0% 0-1 1-2 2-3 3+ Years PORTFOLIO RETURNS - Periods Ending 9/30/2022 3rd Trailing Trailing Trailing Quarter 1 Yr 3 Yr 5 Yr RCTC Operating Portfolio -1.07% -3.85% 0.01% 0.98% ICE BofA 1-3 Year US Treasury Index -1.56% -4.86% -0.48% 0.57% Periods over one year are annualized 359 Ili OVER 35 YEARS OF INSPIRING CONFIDENCE WITH AN UNWAVERING COMMITMENT TO OUR CLIENTS' NEEDS. LOS ANGELES 1 BOSTON 1 LONDON 1 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 360 ATTACHMENT 7 TREASURER -TAX COLLECTOR'S MANAGED BY Matt Jennings Treasurer -Tax Collector Giovane Pizano Assistant Treasurer John Byerly Chief Investment Officer Steve Faeth Senior Investment Officer Isela Licea Investment Officer COUNIYADM INISTRAITVECEN ItI- 4080 WNI O N STREET, 41H FLOOR, RIVERSIDE, CA 92502-2205 WWW.000NMREASURER. ORG 1 1111111V Ili #. 4110 • • 4. .1. K _ 'Skill is Walla tally • � N+ liii1 .i.: IV u: 1111 i awwJ +uk U' 1 1 ,f 1I 111: TREASURER -TAX COLLECTOR'S POOLED INVESTMENT FUND September 2022 REPORT 361 INFLATION FIGHT CONTINUES September saw inflai on readings con' nue to come in on the high side. The Consumer Price Index released mid -month was up 8.3%, far from the Fed's desired rate of 2.00%. In response to the persistently high infla' on reading, the Fed increased the Federal Funds Rate to a range of 3.00% - 3.25% on September 21st, a 75 -basis point jump, the third consecu' ve increase of that magnitude. Percent 9.5 9A 8.5 8.0 7.5 7.0 6.5 6.0 5.5 5.0 4.5 4.0 3.5 3.0 2.5 2.0 1.5 1.0 CPI —FED 2 -Percent Inflation Target Ccnsumer PAce wide. 4' 2�. o ti fi gaci , �?is , 4 054 v) 4dfi Things were more posit ve than expected for employment. Non -farm payrolls added 315,000 which beat expectai ons of 298,000. Thousands 1500.0 1000.0 -500.0 Nonfarm Paryolls Total M/M Change SA =M/M —M/M 61Ao. Trailing Avg ti` fL` '1> ti` tiry 'CI' `I' tiry ro 11 �L SeQ 0c` ,?d Qe� �a(S <(0> �,o` �Q` 4aa c5" ��` Po Federal Reserve Chair Jerome Powell's public comments, reaffirming the Fed's dedica. on to stamp out inflation, encouraged investors who now estimate the Fed will continue raising rates to nearly 5.00% to slow the economy by cooling the overheated demand for goods. The housing sector has already begun slowing due to higher rates. Higher mortgage rates are limiting the purchasing power of homebuyers, with the National Association of Home Builders Index now down to 46, the ninth straight monthly decline. The index peaked at 90 in late November of 2020. A reading below 50 indicates that more builders report conditions as 'poor' than those who see conditions as 'good'. Even Riverside County, one of the hottest real estate markets in the country over the past 3 years, is seeing a slowdown. In our County, the most recent annual price gain has dropped to 7.4% versus increases as high as 24% during the peak of the boom. Prices may even begin to show a decline as the next few months pass, considering current data shows activity from late summer. In the bond market, September saw 2 -year Treasury yields start the month at 3.50% and end the month at 4.28%. 5 -year Treasury yields began the month at 3.40% and ended at 4.09%. Stocks declined in September, with the Dow Jones Industrial Average beginning the month at 31,500 and ending at 28,725. Matt Jennings Treasurer -Tax Collector CO UN1Y OF RIVERSIDE 1REA SURER -TAX COLLECTOR PO O LID INVEST TFUND 2 PORTFOLIO SUMMARY Month End Values $ are Expressed in 000,000 Sep -22 Mar -22 Sep -21 Principal Value $ 11,388.37 $ 11,359.75 $ Market Value* 11,069.50 11,224.94 Book Value* 11,402.43 11,359.75 9,562.12 9,560.64 9,562.12 Unrealized Gain/Loss* Paper Gain or Loss% Yield WAM (Yrs) (332.93) (134.81) -2.920% -1.187% 1.76 0.56 1.27 1.17 • Market values do not include accrued interest. ' Book Value is amount paid changed by amortization. Accretion, adjustments, write downs ' Unreorzed Goin/Loss is Market Volue - Book Value (1.48) -0.015% 0.28 1.19 Treasurer Tax - Collector Statement The Treasurer's Pooled Investment Fund is comprised of contributions from the county, schools, special districts, and other discretionary depositors throughout 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 funds within the given parameters. the Treasurer -Tax Collector and the Capital Markets team are committed to maintaining the highest credit ratings. The 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. Since its inception, the Treasurer's Pooled Investment Fund hasbeen in full compliance with the Treasurer's Statement of Investment Policy, which is more restrictive than California. Government Code 53646. COUNIYOFRIVERSDETREASURERTAXCOLLEC1ORP00LED INVE,SIIaIWITFUN D 3 TPIF STATS Composite Credit Ratiigs Raring Marker Value '1oody's Rstiug Fitch Rating AAA 5.8,34.041.920.13 Aaa AA+ 300,748.507.72 Aaa AA 86.173.381.80 Aa2 NA 469.567.955.33 NA A-1+ 4,378973,819.55 P-1 AAA AAA AA NA AAA AAA 4,000,000,000 3,000,000,000 2.000.000.000 1.000.000.000 3.387.217.584.00 94,017, 0 0,031,768.36 5.340.933.26 1,369.682,711.91 17-42.348,6211M 588.06 h h O 11.069.505 584.53 .Am AAA ,a�`or 00 0� � °o o - o• � �� ;s h ° Holdup by Security Type Security Type Da} s to Filial Categon Maturity Par Value MaketPrice Yield Principal Agency CM0 445 66,364,591.12 98.7049 3.416 66,035,853.95 Mutual Fund - 93,213,169.12 1.0086 -- 94,017,200.84 Non -US Gov 695 1'.8.895,000.00 93.4560 0.737 128,730,013.14 Muni 690 190335,000.00 95.5731 1.520 191,185,815.00 Repo 3 230,000,000.00 100.0000 2.950 230,000,000.00 Aeencv `v BS 779 255,746,9.4.34 96.9677 3.462 x3,589,4633.16 AM Fund 0 550,955,016.99 1.0000 2.914 550990,000.99 CP 56 1,157,066,000.00 99.5135 2.493 1,147,673,093.74 CD 110 1695,000,000.00 100.0001 2.151 1,695,002,456.82 US Gin• 426 3,070,n000.00 97.0449 1.195 3,059,018,008.14 Agency 817 3,999,744,250.00 93.8835 1.491 3,972,131,101.06 Total 464 11,437,321,971.56 91.2002 1.753 113 983'3.006.95 Ho,dmp by S4emity Type Maud Fund (O.$3%) Non-uS oor (1.13%) Mum tl.Sfl) Repo 12.02% - Agency MB5(2 23%), MM Fund (484%t cp 110.88'4) CD 114.86%) U$ Der (26.N%) Vine, (34U%) Month Required Monthly Monthly Matured Receipts Disbursements Difference Investments Balance Actual Investments Available to Maturing Invest > 1 Year 10/2022 10/2022 11/2022 12/2022 01/2023 02/2023 03/2023 04/2023 05/2023 06/3323 07/2023 08/2023 09/2023 1,500.00 1,600.00 3,500.00 1,600.00 1,500.00 2,350.00 2,750.00 1,600.00 2,300.00 1.400.00 1,800.00 ^,20.00 1,700.00 -200.00 1,700.00 -100.00 100.00 1,830.00 1700.00 2.400.00 -800.00 1,800.00 -300.00 1,800.00 550.00 2,070.00 680.00 2.500.00 -900.00 2,400.00 -100.00 2 100.00 -700.00 1,600.00 200.00 1,750.00 350.00 123.90 76.10 0.00 0.00 1,700.00 900.00 600.00 1,150.00 1,830.00 930.00 830.00 130.00 330.00 080.00 1.891.72 930.00 113.25 1, 370.80 510.56 411.75 73.43 767.19 365.00 94.04 147.69 150.50 TOTAL 24,000.00 20,620.00 9.156.10 6 82o.52 1 1.16 .47 50.04% 98.03' COUNT( 0FRIVERSIDETREASURERTAXCOLLECTOR POOLED INVE,SIAAkiTFUN D 4 FIXED INCOME MARKETS FED FUNDS RATE 4.00'0 a5o% 3.00: 25% Fed Fund Rate: 3.00% to 3.25% Next FOMC Scheduled Meeting: 11/02/2022 v'4 fi NO .'f1 TIMMI 4.00% 3.50% 3.00% 2.50% 2.00% 1.50% 1.00% 0.50% 0.00% —�'— Pool Yield -TIMMI o rCi- ,e9� o(> `\ o'' � pew � ,c ' � • vt- p�'� spa The Treasurer's Institutional Money Market Index (TIMMI) is a composite index of four AAA rated prime institutional money market funds. Their average yield is compared to the yield of the Treasurer's Pooled Investment Fund in the above graph. US Treasury Market 5 v' US Treasury Yield Curve 3Mo 6Mo l Yr 2Yr 3Yr 5Yr 10Yr 30Yr 09/30/2022 - 09/01/2022 09/30/2022 09/01/2022 3.36 3.33 2.97 058 3.92 3.34 4.05 3.51 V. 3.' 4.22 4.25 3.51 3.54 3.6' 4.06 3.39 Li 3.83 3.79 3.26 3.37 C0UNTY0FRIVERSIDE-REASJRER-TAX C 0 LLEC TO R POO LED INVEST3gftFUND 5 Compliance Status: Full Compliance The Treasurer's Pooled Investment Fund was in full compliance with the County of Riverside's Treasurer's Statement of Investment Policy. The County's Statement of Investment Policy is more restrictive than California Government Code 53646. 11Te County's Investment Policy is reviewed annually by the County of Riverside'sOversight Committee and approved by the Board of Supervisors. Investment Category MUNICIPALBONDS (MUNI) U.S TREASURIES LOCALAGENCY OBUGATIONS(LAO) FEDERAL AG BVCIES COMMERCIAL PAPER (CP) CERTIFICATE&TIME DE- POSITS (NCD & TC D) INTLBANK FOR RECON- STRUCT1ON AND DEVEL- OPMENTAND INTLFT- NANCECORPORATION REPURCHASE AG REEM EN TS (REPO) REVERSE REPO S MEDIUM TERM NOTES (MTNO) CAL -RUST SHO RT TERM FUND MONEY MARKET M UTUAL FUNDS (MMF) LOCALAGENCY INVESTMENTFUND (LAIF) CASH/ DEPOSIT AC- COUNT G OVERNM ENT CODE Maxi Authorized S&P/ mum %Limit Moody's Maturity 5 YEARS NO UM IT NA 5YEARS NO LIMIT NA 5YEARS NO LIMIT NA 5 YEARS NO LIMIT AAA 270 DAYS 40% A1/ P1 5 YEARS 30% NA NA NA NA 1 YEARS NO LIMIT NA 92 DAYS 20% NA 5 YEARS 30% A NA NA NA 60 DAYS 20% AAA/ Aaa« NA NA NA NA NA NA COUNTY INVESTMENTPOUCY Maximum Ma- Authorized turity Limit S&P/ Moody's 4 YEARS 15% AA-/Aa3/AA- 5 YEARS 100% NA 3 YEARS 2.50% I N V ES11Vl EN T GRADE 5 YEARS 100% NA 270 DAYS 40% A1/P1/F1 1 YEAR 25% Combined A1/Pl/F1 4 YEARS 20% AA/Aa/AA 45 DAYS 40% ma x, 25% in term repo Al/P1/F1 over 7 days 60 DAYS 10% NA 3 YEARS 20% AA/Aa2/AA DAILY LIQUIDITY 1.00% NA AAA by 2 Of 3 DAILY LIQUIDITY 20% RATINGS AGC. DAILY LIQUIDITY Max $50 million NA NA NA NA Actual 1.68% 26.86% 0.00% 37.11% 10.08% 14.88% 1.13% 2.02% 0.00% 0.00% 0.82% 4.84% 0.00% 0.00% COUNTY OF RIVERSDETREASURERTAXCOLLECTOR POOLED INVEsI TFUND 6 Agency AGO( BOND C usip 3130ATHV2 FEDERAL HOME LOAN BANKS 4.312 1000688 09/11/20-6 1,000,000.00 1,000.688.00 997,784.61 2903,39 3133EKQA7 FEDERAL FARM CREDIT BANKS FUNDING CORP 1.693 95,8108 09/10/2024 2,064,000.00 1,977,534.91 2.079,030.13 (101.495.22) 3135GA2P5 FEDERAL NATIONAL MORTGAGE ASSOCIATION 0.356 94,0132 05/03/2024 3,500,000.00 3,290,462,00 3,499,680,26 (209,218.26) 3)36G4P31 FEDERAL NATIONAL MORTGAGE ASSOCIATION 0.450 93.0291 08/19/2024 3,701,000,00 3,443,006.99 3,701,000.00 (257,993.01) 31340W4C7 FEDERAL HOME LOAN MORTGAGE CORP 3.488 87.2750 10/27/2026 5.000.000.00 4,363,750.00 4.494,878.89 (131,128.89) 3130ATF115 FEDERAL HOME LOAN BANKS 3.941 98.2704 09/11/2026 5,000.000.00 4,913,520.00 4,965,477.37 (51,957.37) 3133ENH45 FEDERAL FARM CREDIT BANKS FUNDING CORP 3.294 96.0314 08/24/2026 5,000,000,00 4,801,570,00 4,969,374,78 (167,804.78) 3133ENKS8 FEDERAL FARM CREDIT BANKS FUNDING CORP 1202 93.1343 01/06/2025 5,000,000,00 4,656.715.00 4,991,461.96 (334,746.96) 3130AL2G8 FEDERAL HOME LOAN BANKS 0.615 88.4534 02/18/2026 5,000,000.00 4,422,670.00 4,997,460.16 (574,790.16) 3133E81445 FEDERAL FARM CREDIT BANKS FUNDING CORP 3.137 96.0314 08/24/2026 5.004000.00 4,801.57000 4.997,856.73 (196,286.73) 3133ENPY0 FEDERAL FARM CREDIT BANKS FUNDING CORP 1.764 94.1482 02/25/2025 5.00(1,00000 4,707.410.00 4,998,397,81 (290,987.81) 3133ELNJ9 FEDERAL FARM CREDIT BANKS FUNDING CORP 1,542 96,3315 02/28/2024 5,000,000.00 4,816,575.00 5.000,000.00 (183,425.00) 31340VWM6 FEDERAL HOME LOAN MORTGAGE CORP 0.730 90.9572 05/28/2025 5,000.000.00 4,547,860.00 5,000,000.00 (452,140.00) 313604XK4 FEDERAL NATIONAL MORTGAGE ASSOCIATION 0.650 90.4686 06/30/2025 5.000.000.00 4,523.430.00 5.000,000.00 (476,570.00) 3134GV5R5 FEDERAL HOME LOAN MORTGAGE CORP 0.570 93,5759 07/15/2024 5.0(10,000.110 4,678.795.00 5,000,000,00 (321,205,00) 3(36042F9 FEDERAL NATIONAL MORTGAGE ASSOCIATION 0.625 89,9182 08/27/2025 5,000,000.00 4,495,910.00 5,000,000.00 (504,090.00) 3136G46N8 FEDERAL NATIONAL MORTGAGE ASSOCIATION 0.600 89.3133 0/29/2025 5,000,000,00 4,465,665.00 5,000,000.00 (534,335.00) 3/3500605 FEDERAL NATIONAL MORTGAGEASSOCIATION 0.310 95.7768 1/16/2023 5.000,000.00 4,788,840.00 5.000,0(10.00 (211,160.00) 3134GXBM5 FEDERAL HOME LOAN MORTGAGE CORP (1,600 89,2777 1/12/2025 5.000,000.00 4.463,885.00 5.000,000,00 (536,115.00) 3134GXBM5 FEDERAL HOME LOAN MORTGAGE CORP 0.600 89.2777 1/12/2025 5,000,000.00 4,463,885.00 5.000,000.00 (536,115.00) 31350A2Z3 FEDERAL NATIONAL MORTGAGE ASSOCIATION 0.560 89.1220 1/17/2025 5,000.000.00 4.456,100.00 5.000,000,00 (543,900,00) 3135GA2Z3 FEDERAL NATIONAL MORTGAGE ASSOCIATION 0.560 89.1220 1/17/2025 5,000.000.00 4,456,100.00 5.000,00000 (543.900.00) 3133EMLP5 FEDERAL FARM CREDIT BANKS FUNDING CORP 0.320 91,5178 2/23/2024 5.000.000,00 4,575,890.00 5,000.000.00 (424110.00) 3130ALF25 FEDERAL HOME LOAN BANKS 0.400 91,9452 1/26/2024 5.000.000.00 4,597,260.00 5.000,000,00 (402,740,00) 3130ALFN9 FEDERAL HOME LOAN BANKS 0.550 89.7337 08/25/2025 5,000.000.00 4,486,685.00 5.000,000.00 (513,315.00) 3133EMSC7 FEDERAL FARM CREDIT BANKS FUNDING CORP 0.480 91.1891 03/03/2025 5,000,000.00 4,559,455.00 5,000,000.00 (440,545.00) 31336MZ54 FEDERAL FARM CREDIT BANKS FUNDING CORP 0.900 88.7459 05/18/2026 5,000.000.00 4,437.295,00 5.000,0(10.00 (562.705.00) 3130AMJN3 FEDERAL HOME LOAN BANKS 1030 89,1106 05/26/2026 5.000,000.00 4.455,530.00 5.000,000,00 (544,470,00) 313604697 FEDERALNATIONAL MORTGAGE ASSOCIATION 0.560 89.2081 10/28/2025 5,000,000.00 4,460,405.00 5.000,000,00 (539,595,00) 3134GWTG1 FEDERAL HOME LOAN MORTGAGE CORP 0.600 89.5525 09/30/2025 5.000.000.00 4,477,625.00 5,000,000.00 (522,375.00) 3134GWP9( FEDERAL HOME LOAN MORTGAGE CORP 0.500 90.2128 06/16/2025 5,000.000.00 4,510,64000 5,000,000.00 (489,360.00) 3136G4XZ1 FEDERAL NATIONAL MORTGAGE ASSOCIATION 0.740 90.6988 06/30/2025 5,000.000.00 4,534,940.00 5,000,000.00 (465,060.00) 3130AMMZ2 FEDERAL HOME LOAN BANKS 1,000 88.9127 06/10/2026 5,000,000.00 4,445,635.00 5,000,000.00 (554,365.00) 3134GV3A4 FEDERAL HOME LOAN MORTGAGE CORP 0.500 93.5680 07/01/2024 5,000.000.00 4,678.400.00 5,000,000.00 (321,600.00) 3130AQRH8 FEDERAL HOME LOAN BANKS 2.000 90.9922 02/25/2027 5.000,000.00 4549,610.00 5,000,000.00 (450,390.00) 3I30AQRH8 FEDERAL HOME LOAN BANKS 2,000 90,9922 02/25/2027 5.000,000.00 4.549.610.00 5,000,/0,00 (450,390.00) 3130AR4V0 FEDERAL HOME LOAN BANKS 2.150 94.8088 03/14/2025 5,000,000.00 4,740,440.00 5.000,000.00 (259,560,00) 3I30AR6U0 FEDERAL HOME LOAN BANKS 2.500 92.5984 03/22/2027 5,000.000.00 4,629,920.00 5,000,000,00 (370,080.00) 3/30A8707 FEDERAL HOME LOAN BANKS 2.050 94.5347 03/25/2025 5,000,000.00 4,726.735.00 5.000,000.00 (273,265.00) 3130ATBV8 FEDERAL HOME LOAN BANKS 4.150 97.6787 09/29/2027 5,000.000,00 4,883,935.00 5,000,000,00 (116,065.00) 3I30ATBVR FEDERAL HOME LOAN BANKS 4.150 97.6787 09/29/2027 5.000,000.00 4,883,935.00 5,000,000.00 (116,065.00) 3I33ELH80 FEDERAL FARM CREDIT BANKS FUNDING CORP 0.680 90.7182 06/10/2025 5.025.000.00 4.558,589.55 5,025,000.00 (466,410,45) 3130ASDK2 FEDERAL HOME LOAN BANKS 3.250 95,9834 06/29/2026 5,250,000.00 5.039,12850 5,250,000.00 (210,871.50) 3130AL6K5 FEDERAL HOME LOAN BANKS 0,580 88.3361 02/25/2026 6,000,000.00 5.300,166.00 6,000,000.00 (699,834,00) 3133EKP75 FEDERAL FARM CREDIT BANKS FUNDING CORP 1,671 94.8805 09/17/2024 6,128,000,00 5,814,277.04 6,119,746.95 (305,469,91) 3130ARHG9 FEDERAL HOME LOAN BANKS 2.180 97.0038 02/28/2024 7.000,000.00 6,790,266.00 6.994,170.64 (203,904.64) 3I30ATH42 FEDERAL HOME LOAN BANKS 4.700 99.4067 09/29/2027 7.000.000.00 6,958.469.00 7,000,000.00 (41,531.00) 3(30ATBV8 FEDERAL HOME LOAN BANKS 4,150 97.6787 09/29/2027 7.225,000,00 7,057,286.08 7,225,000,00 (167,713.93) 3133EMKH4 FEDERAL FARM CREDIT BANKS FUNDING CORP 0,160 99.3316 12/15/2022 8.245,000,00 8,189,890.42 8,245,000.00 (55,109,58( 3136G4Q97 FEDERAL NATIONAL MORTGAGE ASSOCIATION 0.650 89.9856 08/27/2025 8.650,000.00 7,783,754.40 8,650,10(0.00 (866.245.60) 3I30ALGJ7 FEDERAL HOME LOAN BANKS 1.016 89.4481 03/23/2026 8,921 250.00 7,979,888.62 8.916,330.65 (936.442.03) US3130AL2X12 FEDERAL HOME LOAN BANKS 3.001 86.6999 02/17/2027 10.000,000,00 8,669.990.00 9,128.827,27 (458,837.27) 3133EL509 FEDERAL FARM CREDIT BANKS FUNDING CORP 2.905 92.9508 09/03/2024 10.000,000.00 9,295,080,00 9,552,843.24 (257,763.24) 3133EL4J0 FEDERAL FARM CREDIT BANKS FUNDING CORP 2.882 93.0648 08/19/2024 10,000,000.00 9,306,480.00 9,563,888.94 (257,408.94) 3130AKYH3 FEDERAL HOME LOAN BANKS 1.746 86.6672 02/10/2027 10.000,000.00 8,666.720.00 9.619,002.03 (952,282.03) 3/30A6027 FEDERAL HOME LOAN BANKS 1.000 89.4481 03/23/2026 9,750.000.00 8,726189.75 9.750,000,00 (1.028.810.25) 3130ALGJ7 FEDERAL HOME LOAN BANKS 1.000 89,4481 03/23/2026 9.750,000.00 8,721,189.75 9.750,000.00 (1,028,810.25) 3130ALGJ7 FEDERAL HOME LOAN BANKS 1.000 89.4481 03/23/2026 9.750,000,00 8,721,189.75 9.750,000.00 (1,028,810.25) 3)30ANMHO FEDERAL HOME LOAN BANKS 1.668 88.7678 08/20/2026 0,000,000.00 8,876,780.00 9,788188.29 (911.408.29) 3133ENL99 FEDERAL FARM CREDIT BANKS FUNDING CORP 3.830 96.5314 09/15/2027 0.000,000.00 9,653140.00 9,796,620.48 043,480,48) 3130ALHHO FEDERAL HOME LOAN BANKS 3.040 89.4520 03/05/2026 0.500,000.00 9,392,460.00 9,799,192.28 (406,732.28) 3133ENKG4 FEDERAL FARM CREDIT BANKS FUNDING CORP 1.908 89.2895 01/11/2027 0.000,000.00 8,928,950.00 9,821,793,66 (892,843.66) 3130AQHS5 FEDERAL HOME LOAN BANKS 1.984 90.0368 01/28/2027 0,000,000,00 9,003,680.00 9,883,399.67 (879,719.67) 3133ENBK5 FEDERAL FARM CREDIT BANKS FUNDING CORP 1.340 88.5144 10/20/2026 0.000.000,00 8.851.440.00 9,921,758,49 (1,070,318.49) 3133EM1Q6 FEDERAL FARM CREDIT BANKS FUNDING CORP 0,253 95,4853 12/08/2023 9.931.000,00 9,482.645,14 9.931.501,81 (448,856,67) 3133ENBK5 FEDERAL FARM CREDIT BANKS FUNDING CORP 1.249 88,5144 10/202026 0.900.000.00 8,851.440.00 9,957,071.82 (1,105,63182) 3 )33ENL99 FEDERAL FARM CREDIT BANKS FUNDING CORP 3.467 96.5314 09/15/2027 0,000,000.00 9,653,140.00 9,958,46714 (30.5,32714) 3)37EAEX3 FEDERAL HOME LOAN MORTGAGE CORP 0.497 89.0824 09/23/2025 0.000,000,00 8.908,240.00 9.964,095.91 (1,055,855.91) 3133ENLZ1 FEDERAL FARM CREDIT BANKS FUNDING CORP 1860 90,3587 01/26/2027 0.000,000,00 9,035,870,00 9,967,094,62 (931,224.62) 3133ENYX2 FEDERAL FARM CREDIT BANKS FUNDING CORP 3.439 98.2247 06/17/2024 0,000,000.00 9,822,470.00 9,968,963.75 (146,493,75) 3130AQF65 FEDERAL HOME LOAN BANKS 1.306 88.8094 12/21/2026 0.000.000.00 8,880.940.00 9.977,178.40 (1.096,238.40) 3133ENVD9 FEDERAL FARM CREDIT BANKS FUNDING CORP 2.913 94.5423 04/26/2027 0000.00.00 9,454.230.00 9,983,922.89 (529,692.89) 3133ENB33 FEDERAL FARM CREDIT BANKS FUNDING CORP 3.075 95.1444 07/19/2027 0,000,00000 9,514,44) 00 9,988.966.05 (474,526.05) 3133ENB66 FEDERAL FARM CREDIT BANKS FUNDING CORP 3,174 96.1718 07/20/2026 0,000.000.00 9.617,180.00 9,991,449,69 (374,269,69) 3132X03B5 FEDERAL AGRICULTURAL MORTGAGE CORP 2.960 99.0201 06/30/2023 0,000.000.00 9,902,010.00 9,992,116.30 (90,106.30) 3133EMSC7 FEDERAL FARM CREDIT BANKS FUNDING CORP 0.512 911891 03/03/2025 0.000,000.00 9,118,910.00 9,992,431.04 (873,52L04) 3I30ARMT5 FEDERAL HOME LOAN BANKS 2,838 96.7729 0025/2024 0.000,000.00 9.677,290.00 9,992,549,34 (315,259.34) 3133EMLP5 FEDERAL FARM CREDIT BANKS FUNDING CORP 0.339 91.5178 12/23/2024 4000,000.00 9,151,780.00 9,995,803.70 (844,023,70) 3133EMLT7 FEDERAL FARM CREDIT BANKS FUNDING CORP 0.244 95.1955 12/28/2023 0,000.000.00 9.519,550.00 9,995,804.83 (476,254.83) 313361048 FEDERAL FARM CREDIT BANKS FUNDING CORP 3.092 98.8397 10/02/2023 0,000,00000 9,883,971600 9,995,845.88 (111,875.88) 3)3500T94 FEDERAL NATIONAL MORTGAGE ASSOCIATION 2.490 99.5995 0019/2023 0,000,000.00 9.959,950.00 9,996.619.17 (36,669.17) 3137EAEZR FEDERAL HOME LOAN MORTGAGE CORP 0.280 95.7351 11/06/2023 0,000.000.00 9,573,510.00 9,996,703.27 (423,193.27) 31336MKW 1 FEDERAL FARM CREDIT BANKS FUNDING CORP 0.235 95.2689 12/21/2023 0.000.000.00 9,526,890.00 9.996,941.82 (470.051.82) 3135008A6 FEDERAL NATIONAL MORTGAGE ASSOCIATION 0.587 89.3308 10/20/2025 0,000.000.00 8,933,080.00 9,997,842.55 0,064,762.55) 3133EL7E8 FEDERAL FARM CREDIT BANKS FUNDING CORP 0.250 98,4302 03/15/2023 0.000.000.00 9,843,020.00 9,998,637.92 (155,617.92) 31340XEX8 FEDERAL HOME LOAN MORTGAGE CORP 0,270 97.4884 06/01/2023 (1,000,000.00 9,748,840,00 9,998,662.93 (249,822.93) 3135006C2 FEDERAL NATIONAL MORTGAGE ASSOCIATION 0.604 89.3133 10/29/2025 0.000.000.00 8,931,330.00 9.998,768.11 (1,067,438.11) 3133EJKN8 FEDERAL FARM CREDIT BANKS FUNDING CORP 2.719 99.3637 04/11/2023 0.000.000.00 9,936,370.00 9,998,978.49 (62,608.49) 3134GXCA0 FEDERAL HOME LOAN MORTGAGE CORP 0.328 95,7(162 11/24/2023 0,000,000.00 9,570.620.00 9,999,042,29 (428,422.29) 3130ANRB8 FEDERAL HOME LOAN BANKS 0,553 92.0610 12/17/2024 0,000,000.00 9,206.100,00 9,999,319.29 (793,219.29) 3134GXEX8 FEDERAL HOME LOAN MORTGAGE CORP 0.260 97.4884 06/01/2023 0.000.000.00 9,748,840.00 9,999,331.46 (250.491.46) 3134GXEX8 FEDERAL HOME LOAN MORTGAGE CORP 0.256 97.4884 06/012023 0.000.000.00 9,748.840.00 9.999,598.44 (250.758.44) 3130AKDH6 FEDERAL HOME LOAN BANKS 0.176 99.8283 10/21/2022 0.000,000,00 9,982,830.00 9,999.722.33 (16,892.33) 3134GV WM6 FEDERAL HOME LOAN MORTGAGE CORP 0.730 90,9572 05/28/2025 0.000,000,00 9.095,720,00 10.000,000,00 (904,280.00) 3)34GVYX0 FEDERAL HOME LOAN MORTGAGE CORP 0.500 93.8914 06/03/2024 0,000,000.00 9,389140.00 10,000,000.00 (610,860.00) 313604075 FEDERAL NATIONAL MORTGAGE ASSOCIATION 0.600 90.0829 07/29/2025 0.000,000.00 9.008,290.00 10,000,000.00 (991710.00) 313664877 FEDERAL NATIONAL MORTGAGE ASSOCIATION 0.700 90,2920 08/04/2025 0.000.000.00 9,029,200.00 10.000,000,00 (970,800,00) 313604032 FEDERAL NATIONAL MORTGAGE ASSOCIATION 0.600 90.0829 07/29/2025 0.000,000,00 9,008,290.00 10,000,000.00 )991,710,00) 3134GWLW4 FEDERAL HOME LOAN MORTGAGE CORP 0.625 89.9723 08/19/2025 0,000,000.00 8.997,230.00 10,000,000.00 (1,002,770.00) 313664X40 FEDERAL NATIONAL MORTGAGE ASSOCIATION 0.600 89.8595 08/26/2025 0.000,00000 8.985,950.00 10,000,000.00 (1,014050.00) 3136G4Z97 FEDERAL NATIONAL MORTGAGE ASSOCIATION 0.375 94.7501 02/28/2024 0.000,000.00 9,475,010.00 10,000,000,00 (524,990,00) 3130AK3TI FEDERAL HOME LOAN BANKS 0.500 92.0361 12/09/2024 0.000,000.00 9,203,610.00 10,000,000,00 (796,390.00) 31340W638 FEDERAL HOME LOAN MORTGAGE CORP 0.540 89.5187 09/15/2025 0,000,000.00 8,951,870.00 10.000,000.00 (1,048,130,00) 3134GWN85 FEDERAL HOME LOAN MORTGAGE CORP 0.450 92.8187 09/10/2024 0,000.000,00 9,281,870.00 10,000,000.00 (718.130.00) 3134GW3Z7 FEDERAL HOME LOAN MORTGAGE CORP 0.600 89.3216 1028/2025 0.000,000,00 8,932160.00 10.000000.00 (1.067.840.00) 3134GW3Y0 FEDERAL HOME LOAN MORTGAGE CORP 0.550 89,1794 10/28/2025 0.000.000.00 8,917,940.00 10,000,000,00 (1.082,060,00) 3135006A6 FEDERAL NATIONAL MORTGAGE ASSOCIATION 0.580 89.3308 10/20/2025 0.000.000.00 8,933,080.00 10,000,000.00 (1,066,920,00) Description 1 ie10 Market Price Final 8laturitr )'ar \' aluc Market \'aloe Boob Value Net Unrealized Gain/Loss 367 3136045C3 FEDERAL NATIONAL MORTGAGE ASSOCIATION 0,540 89.1595 1027/2025 0,000,000.00 8,915,950.00 (1.000,0(10,00 (1,084,050.00) 3135006C2 FEDERAL NATIONAL MORTGAGE ASSOCIATION 0.600 89,3133 10/29/2025 0,000,000,00 8.931330.01) 0,000,000.00 (1,068.670,00) 3134GW3X2 FEDERAL HOME LOAN MORTGAGE CORP 0.625 89.40(17 10/27/2025 0,000.000.00 8,940,070.00 0.000,000.00 (1,059,930.00) 3135GA2NO FEDERAL NATIONAL MORTGAGE ASSOCIATION 0.550 89.2002 11/04/2025 0.000.000.00 8,920,020.00 0.000,000.00 (1,079,980.00) 3135GA3C3 FEDERAL NATIONAL MORTGAGE ASSOCIATION 0.350 93.8550 05/17/2024 0,000.000.00 9,385,500.00 0,000,000.00 (614,500.00) 3135GA3C3 FEDERAL NATIONAL MORTGAGE ASSOCIATION 0,350 93.8550 05/17/2024 0.000.000,00 9,385,500.00 (1,000,000.00 (614,500,00) 3135006E8 FEDERAL NATIONAL MORTGAGE ASSOCIATION 0.420 92.0679 11/18/2024 0,0(10,000.00 9,206,790,00 0,000,000.00 (793,210.00) 3135GA2Z3 FEDERAL NATIONAL MORTGAGE ASSOCIATION 0.560 89.1220 11/17/2025 0.000,000.00 8,912,200.00 0.000,000.00 (1.087,800,00) 3133EMHL9 FEDERAL FARM CREDIT BANKS FUNDING CORP 0.310 95.6340 11/30/2023 0.00(1.000.00 9,563,400.00 0,000,000.00 (436.600.00) 3134GXEA8 FEDERAL HOME LOAN MORTGAGE CORP 0.200 99,5250 11/23/2022 0,000.000.00 9,952,500.00 0,000,000,00 (47,500.00) 3134GXEAR FEDERAL HOME LOAN MORTGAGE CORP 0.200 99.5250 11/23/2022 0,000,000,00 9.952,500.00 0,000,000.00 (47,500,00) 3 I34GXCF9 FEDERAL HOME LOAN MORTGAGE CORP 0,400 93.8545 05/24/2024 0,000.000.00 9,385,450.00 0,000,000.00 (614,550.00) 3I34GXCF9 FEDERAL HOME LOAN MORTGAGE CORP 0.400 93.8545 05/24/2024 0.000.000.00 9,385,450.00 0.000,000.00 (614,550.00) 3(34GXGQ1 FEDERAL HOME LOAN MORTGAGE CORP 0,200 99.3394 12/15/2022 0,000,000.00 9,933.940.00 0.000.000.00 (66,060,00) 3134GXHLI FEDERAL HOME LOAN MORTGAGE CORP 0.700 89.1888 12/30/2025 0.000,000,00 8,918,880.00 0,000,000,00 (1,081,120,00) 3133EMKH4 FEDERAL FARM CREDIT BANKS FUNDING CORP 0.160 99.3316 12/15/2022 0,000,000.00 9,933,1.60.00 0.000,000.00 (66,840.00) 3133EMLE0 FEDERAL FARM CREDIT BANKS FUNDING CORP 0.190 96.2391 09/22/2023 0.000.000.00 9,623,910.00 0,000,000.00 (376,090.00) 3I30AKKF2 FEDERAL HOME LOAN BANKS 0.270 94.2924 03/28/2024 0.000,000.00 9,429,240.00 0.000,000.00 (570,760.00) 3130AKL79 FEDERAL HOME LOAN BANKS 0.250 95.2431 12/28/2023 0,000,000.00 9,524,310.00 0,000,000.00 (475,690,00) 3134GXHHO FEDERAL HOME LOAN MORTGAGE CORP 0.220 97.1472 06/30/2023 0,000,000.00 9,714,720.00 0,000,000.00 (285 280.00) 3136(143W 1 FEDERAL NATIONAL MORTGAGE ASSOCIATION 0.320 94.3637 03/28/2024 0,000,000.00 9.436,370.00 0,000,000.00 (563,630.00) 3130ALEM2 FEDERAL HOME LOAN BANKS 0.790 88.9862 02/25/2026 0.000,000.00 8,898,620.00 0,000,000.00 (1,101,380.00) 3130ALGR9 FEDERAL HOME LOAN BANKS 0.850 89.1639 02/26/2026 0,000,000.00 8,916,390.00 0,000,000,00 (1,083,610,00) 3130ALH56 FEDERAL HOME LOAN BANKS 0.750 88.7090 03/18/2026 0,000,000,00 8,870.900.00 0,000,000.00 (1,129,100,00) 3130ALH56 FEDERAL HOME LOAN BANKS 0.750 88.7090 03/18/2026 0,000.000.00 8,870,900.00 0.000,000.00 (1.129,100.00) 3130ALI1Z0 FEDERAL HOME LOAN BANKS 0.530 90.2707 06/18/2025 0,000.000.00 9,027.070.00 0.000,000.00 (972,930,00) 3 I33EMUP5 FEDERAL FARM CREDIT BANKS FUNDING CORP 0.710 91.4248 04/01/2025 0,000,000.00 9,142,480.00 0,000,000.00 (857,520,00) 3133EMUP5 FEDERAL FARM CREDIT BANKS FUNDING CORP 0.710 91.4248 04/01/2025 0.000,000.00 9,142,480.00 0,000,000.00 (857,520,00) 3130ALTJ3 FEDERAL HOME LOAN BANKS 0.375 94.3185 04/08/2024 0,000,000.00 9,431,850.00 0,000,000.00 (568,150.00) 3I 30ALNK6 FEDERAL HOME LOAN BANKS 0.625 91.2922 03/25/2025 0.000,000.00 9.129.220.00 0,000.000.00 (870.780.00) 3130ALU93 FEDERAL HOME LOAN BANKS 0.750 90,7257 06/30/2025 0,000,000,00 9,072,570.00 0,000,000.00 (927,430.00) 3133EMVD1 FEDERAL FARM CREDIT BANKS FUNDING CORP 0.330 94.2876 04/05/2024 0,000,000.00 9,428,760.00 0,000,000.00 (571,240,00) 3133EMDM1 FEDERAL FARM CREDIT BANKS FUNDING CORP (1.270 95.9838 10/20/2023 0,000,000.00 9,598,380.00 0,000,000.00 (401,620.00) 3133EMQ62 FEDERAL FARM CREDIT BANKS FUNDING CORP 0.990 88.6517 07/13/2026 0,000.000.00 8,865.170.0() 0,000,000.00 (1,134,830.00) 3133EMQ62 FEDERAL FARM CREDIT BANKS FUNDING CORP 0.990 88.6517 (17/13/2026 0,000,000.00 8,865.170.00 0,000,1)00.00 (1,134,830.00) 3130ANAJ9 FEDERAL HOME LOAN BANKS 1,000 88.5939 07/27/2026 0.000,000,00 8,859,390.00 0.000,000.00 (1,140,610.00) 3130ANE48 FEDERAL HOME LOAN BANKS 1.000 88.4501 08/17/2026 0,000,000.00 8,845,010.00 0,000,000.00 (1,154,990.00) 3I30ANFD7 FEDERAL HOME LOAN BANKS 1,000 88.5287 08/05/2026 0,000,000.00 8,852,870.00 0,000,000.00 (1,147,130.00) 3(30AMME9 FEDERAL HOME LOAN BANKS 1.000 89.0140 05/26/2026 0.000.000.00 8.901,400.00 0.000,000,00 (1,098.601.00) 3130ALHG2 FEDERAL HOME LOAN BANKS 0.750 88.7090 03/18/2026 0,000,000.00 8,870,900.00 0,000,000,00 (1.129,100,00) 3 I30ALN34 FEDERAL HOME LOAN BANKS 0.700 91.4758 03/24/2025 0,000,000.00 9,147,580.00 0,000,000.00 (852,420,00) 3130AKLB0 FEDERAL HOME LOAN BANKS 0,260 93.2485 06/28/2024 0,000.000.00 9,324,850.00 0,000,000.(10 (675,150.00) 3134GWN44 FEDERAL HOME LOAN MORTGAGE CORP 0.450 92:8077 09/11/2024 0,000,000,00 9,280,770.0() 0,000,000.00 (719,230.00) 3134GWR32 FEDERAL HOME LOAN MORTGAGE CORP 0.410 93.5419 06/24/2024 0,000,000.00 9,354,190.00 0.000,00000 (645,810.00) 3I34GVRV2 FEDERAL HOME LOAN MORTGAGE CORP 0.750 91.0152 05/27/2025 0,000,000,00 9,101.520.00 0,000,000.00 (898.480.00) 31344X006 FEDERAL HOME LOAN MORTGAGE CORP 0.190 99.5236 11/23/2022 0,000.000.00 9,952,360.00 0,000.000.00 (47.640.00) 3(30AN3R9 FEDERAL HOME LOAN BANKS 1.130 89.1056 07/20/2026 0,000,000.00 8,910,560.00 0,000,000.00 (1,089,440,00) 3I30ALKL7 FEDERAL HOME LOAN BANKS 0.850 88.9982 03/25/2026 0,000,000.00 8,899,820.00 0,000,000.00 (1,100,180,00) 3156043H4 FEDERAL NATIONAL MORTGAGE ASSOCIATION 0.400 92.6597 09/16/2024 0,000,000.00 9,265,970.00 0,000,000.00 (734,030,00) 3135GAAZ4 FEDERAL NATIONAL MORTGAGE ASSOCIATION 0.500 90.1392 06/24/2025 0,000,000.00 9,013,920.00 0,000,000.00 (986,080.00) 3130ALBX1 FEDERAL HOME LOAN BANKS 0580 88.3511 02/23/2026 0,000.000.00 8,835.110.00 0,000,000.00 (1,164,890.00) 3130AMT69 FEDERAL HOME LOAN BANKS 1.070 89,0646 06/26/2026 0.000,000,00 8,906,460.00 0,000,000.00 (1,093,540,00) 3 135GA3N9 FEDERAL NATIONAL MORTGAGE ASSOCIATION 0300 95.7660 11/16/2023 0,000,000.00 9,576,600.00 0,000,000.00 (423,400.00) 3I30ALKFO FEDERAL HOME LOAN BANKS 0.625 91.2922 03/25/2025 0.000.000.00 9,129220.00 0.000,000.00 (870,780.00) 3I30ALKFO FEDERAL HOME LOAN BANKS 0.625 91.2922 03/25/2025 0,000,000.00 9,09,220.00 0,000.000.00 (870,780.00) 3134GWP26 FEDERAL HOME LOAN MORTGAGE CORP 0500 90.9724 03/28/2025 0.000,000,00 9,097.240.00 0,000,000,00 (902,760,00) 3134GWL79 FEDERAL HOME LOAN MORTGAGE CORP 0.400 92.7267 09/10/2024 0,000,000.00 9,272,670.00 0.000,000.00 (727,330.00) 3134GWL79 FEDERAL HOME LOAN MORTGAGE CORP 0.400 92.7267 09/10/2024 0.000.000.00 9,272.670.00 0.000,000.00 (727,330.00) 3130ANPFI FEDERAL HOME LOAN BANKS 1.000 88.4015 08/25/2026 0.000,000.00 8,840.150.00 0.000,000.00 (1,159,850.00) 3130ANX88 FEDERAL HOME LOAN BANKS 0.500 92.7254 09/27/2024 0,000,000.00 9,272,540,00 0,000,000.00 (727,460,00) 3I30ANYN4 FEDERAL HOME LOAN BANKS 1.000 88.1708 09/30/2026 0,000,000.00 8.817,080.00 0,000,000.00 (1,182,920.00) 3 I30ANMH0 FEDERAL HOME LOAN BANKS 1.100 88.7678 08/20/2026 0,000,000.00 8.876,780.00 0.000,000.00 (1,123,220.00) 3133EN EM8 FEDERAL FARM CREDIT BANKS FUNDING CORP 1.430 892712 11/23/2026 0.000,000.00 8,927,120.00 0,000,000.00 (1,072,880.00) 3133ENGN4 FEDERAL FARM CREDIT BANKS FUNDING CORP 0.970 93.0044 12/09/2024 0,000,000.00 9,300,440.00 0,000,000.00 (699,560,00) 3130AQRQ8 FEDERAL HOME LOAN BANKS 2.000 90,9922 02/25/2027 0,000,000,00 9,099,220.00 0,000,000.00 (900,780,00) 3130ARFS5 FEDERAL HOME LOAN BANKS 2.000 96,7501 03/28/2024 0,000,000.00 9,675,010.00 0.000,000.00 (324,990.00) 3130ARHX2 FEDERAL HOME LOAN BANKS 3.000 94.1750 03/25/2027 0,000.000.00 9,417,500.0(1 0.000,000.00 (582,500,00) 3I30ARHX2 FEDERAL HOME LOAN BANKS 3.000 94.1750 03/25/2027 0,000,000.00 9.417,500.00 0,000,000.00 (582,500.00) 3130ARFIX2 FEDERAL HOME LOAN BANKS 3.000 94.1750 03/25/2027 0.000,000.00 9,417,500.00 0,000,000.00 (582,500.00) 3130ARPV7 FEDERAL HOME LOAN BANKS 3.500 955080 04/28/2027 0,000,000.00 9,550,800.00 0,000,000.00 (449,200.00) 3133ENUL2 FEDERAL FARM CREDIT BANKS FUNDING CORP 3.110 95.1282 04/13/2026 0.000,000.00 9,512,820.00 0.000,000.00 (487.180.00) 3133ENUS7 FEDERAL FARM CREDIT BANKS FUNDING CORP 2.580 97.3862 04/18/2024 0,000,000,00 9.738,620.00 0,000,000.00 (261380.00) 3130ARSF9 FEDERAL HOME LOAN BANKS 3.000 94.1388 04/29/2027 0,000,000.00 9,413,880.00 0,000,000.00 (586,120,00) 3130ARSC6 FEDERAL HOME LOAN BANKS 2.900 95.9564 05/29/2025 0,000,000.00 9,595,640.00 0,000,000.00 (404,360.00) 3I30ARUF6 FEDERAL HOME LOAN BANKS 3.125 94.9798 10/29/2026 0,000.000.00 9,497,980.00 0.000,000.00 (502,020.00) 3130AS3F4 FEDERAL HOME LOAN BANKS 3.770 96.32(14 05/26/2027 0,000,000.00 9,632,040.00 0.000,000.(10 (367.960.00) 3130AS5B1 FEDERAL HOME LOAN BANKS 2.201 98.7546 06/09/2023 0,000,000,00 9,875,460.00 0.000,000.00 (124,540.00) 3130AS4GI FEDERAL HOME LOAN BANKS 2.289 98.7024 06/09/2023 0.000,000.00 9,870,240.00 0,000,000.00 (129,760.00) 3)30AS4T3 FEDERAL HOME LOAN BANKS 2.325 98.7083 06/12/2023 0,000,000,00 9,870,830.00 0,000,000.00 (129,170.00) 3I34GXVS0 FEDERAL HOME LOAN MORTGAGE CARP 2,900 97,504 06/21/2024 0,000.000,00 9,751,140.00 0.000,000.0(1 (248.860,00) 3I30ASDV8 FEDERAL HOME LOAN BANKS 3.300 95.0285 06/28/2027 0,000,000.00 9,502,850.00 0,000,000.00 (497,150,00) 3134GXZW7 FEDERAL HOME LOAN MORTGAGE CORP 4.250 97.8740 06/30/2027 0,000,000.00 9,787,400.00 0,000,000.00 (212,600.00) 3134GXYR9 FEDERAL HOME LOAN MORTGAGE CORP 3.560 97.1027 06/27/2025 0,000.000.00 9,710,270.00 0,000,000.00 (289,730.00) 3133END80 FEDERAL FARM CREDIT BANKS FUNDING CORP 2.873 95.6475 08/03/2026 0,000,000,00 9,564,750.0() 0,045,677.76 (480.927.76) 313500X24 FEDERAL NATIONAL MORTGAGE ASSOCIATION 1.098 94.1913 01/07/2025 0,000,000.00 9,419,130.00 0,116,973.35 (697,843.35) 3 I30ASGU7 FEDERAL HOME LOAN BANKS 3.095 97.0812 06/11/2027 0,000,000.00 9,708,120.00 0,175,030.55 (466,910,55) 3I33ENUS7 FEDERAL FARM CREDIT BANKS FUNDING CORP 2.721 97.3862 04/18/2024 .0,520,000,00 10,245,028.24 0,497.772.49 (252,744.25) 3I34GXCAO FEDERAL HOME LOAN MORTGAGE CORP 0.328 95.7062 11/24/2023 0,710,000.00 10,250,134,02 0,708,965.79 (458,831.77) 3130AQKM4 FEDERAL HOME LOAN BANKS 1.750 90.2179 01/28/2027 1,250,000,00 10,149,513.75 1.250,000,00 (1,100,486,25) 3133824X1 FEDERAL HOME LOAN BANKS 2.691 99.2656 03/10/2023 1,750,000.00 11,663,708.00 1.721,628.26 (57,920,26) 3133EMLRI FEDERAL FARM CREDIT BANKS FUNDING CORP 0.506 88.6764 12/232025 2,430,000.00 11,022.476.52 2,427,588.92 (1,405,112.40) 3130ATFAO FEDERAL HOME LOAN BANKS 5.125 99.5787 09/30/2027 3,000,000.00 12.945,231.00 3,000,000.00 (54,769.00) 3134GW6C5 FEDERAL HOME LOAN MORTGAGE CORP 3.122 87,2685 10/28/2026 5,000,000,00 13,090,275,00 3,685,279.11 (595,004,11) 3I30ANMHO FEDERAL HOME LOAN BANKS 3.132 88.7678 08/20/2026 5,000,000.00 13,315,170.00 .3,895,371.95 (580301.95) 313500663 FEDERAL NATIONAL MORTGAGE ASSOCIATION (1.573 89.0686 11/07/2025 4,000,000.00 12,469.604.00 3,968,796.43 (1,499,192.43) 3130ALED2 FEDERAL HOME LOAN BANKS 2,050 87,3214 02/24/2027 5,000,000.00 13,098,210.00 4.357,466.06 (1,259,256.06) 3I30ALGJ7 FEDERAL HOME LOAN BANKS 1.000 89.4481 03/23/2026 .4,625,000,00 13,081,784.63 4.625,000,00 (1,543,215,38) 3I30ALGJ7 FEDERAL HOME LOAN BANKS 1.000 89.4481 03/23/2026 4,625,000.00 13,081,784.63 4,625,000.00 (1,543,215.38) 3134GWZV 1 FEDERAL HOME LOAN MORTGAGE CORP 1.238 89.5121 10/22/2025 5,000,000.00 13,426.815,00 4,737,278.05 (1,310,463.05) 3I30ALDX9 FEDERAL HOME LOAN BANKS 0.500 90.4330 05/23/2025 4.750,000.00 13,338,867.50 4,750.1100.00 (1,411,132.50) 313604X169 FEDERAL NATIONAL MORTGAGE ASSOCIATION 0.740 90.6385 07/07/2025 4,900,000.00 13,505,136.50 4,900,000.00 (1394,863,50) 3133ENQ29 FEDERAL FARM CREDIT BANKS FUNDING CORP 4.122 99.2980 09/29/2027 5,000,000.00 14,894;700.00 4,918,414.46 (23,714.46) 3130ALEY6 FEDERAL HOME LOAN BANKS 3.157 88.9683 03/04/2026 6,160.000.00 14,377,277.28 4.935,790.36 (558,513.08) 3130ALLP7 FEDERAL HOME LOAN BANKS 0.688 91.4243 03/17/2025 5.000,000.00 13,713.645.00 4,986,084.02 (1,272,439.02) 3130AKKP0 FEDERAL HOME LOAN BANKS 0,235 95.2349 12/22/2023 5,000,000.00 14,285,235.00 4,991,770.68 (706,535,68) 3133EMLT7 FEDERAL FARM CREDIT BANKS FUNDING CORP 0.235 95,1955 12/28/2023 5,000,000,00 14,279,325,00 4,995,332.25 (716,007.25) 3134GXBL7 FEDERAL HOME LOAN MORTGAGE CORP 0.325 95.7660 11/16/2023 5,000,000.00 14,364,900.00 4,995.772.53 (630,872.53) 31340V031 FEDERAL HOME LOAN MORTGAGE CORP 0.760 91.0068 05/28/2025 5.000,000.00 13.651,020.00 4,995.999.95 (1,344.979.95) 3130AKKF2 FEDERAL HOME LOAN BANKS 0,279 94.2924 03/28/2024 5,000,000.00 14,143,860.00 4,997,930.36 (854,070,36) 3134GVE95 FEDERAL HOME LOAN MORTGAGE CORP 0.650 90.7253 06/09/2025 5,000,000.00 13,608,795.00 5,000,000,00 (1391,205.00) 368 3/36O46U1 FEDERAL NATIONAL MORTGAGE ASSOCIATION 0730 90,5440 07/15/2025 5,000,000.00 13,581,600.00 5.000,000.00 (1,418.400.00) 3134GWET9 FEDERAL HOME LOAN MORTGAGE CORP 0.510 91.6059 01/29/2025 5,000,000.00 13,740,885.0(1 5,000,000.00 (1,259,115.00) 313604C27 FEDERAL NATIONAL MORTGAGE ASSOCIATION 0.700 903456 (17/29/2025 5,000.000.00 13,551,840.00 5.000,000.00 (1,448,160.00) 313604077 FEDERAL NATIONAL MORTGAGE ASSOCIATION 0.700 90.2920 08/04/2025 5.000.000.00 13,543,800.00 5.000.00000 (1,456.200.00) 313604H63 FEDERAL NATIONAL MORTGAGE ASSOCIATION 0.550 89.7621 08/19/2025 5,000,00000 13.464,315.00 5,000,000.00 (1,535,685.00) 3 13 60413 8 FEDERAL NATIONAL MORTGAGE ASSOCIATION 0.410 93.0364 08/12/2024 5.000.000.00 13,955,460.00 5,000,000.00 (1,044,540.00) 3(36041(51 FEDERAL NATIONAL MORTGAGE ASSOCIATION 0.310 96.7137 08/17/2023 5,000,000.00 14,507,055.00 5,000,000.00 (492,945.00) 3134GWL38 FEDERAL HOME LOAN MORTGAGE CORP 0.540 89.5187 09/15/2025 5.000.000.00 13,427.805.00 5,000,000.00 (1,572,195.00) 3133EMKG6 FEDERAL FARM CREDIT BANKS FUNDING CORP 0.200 97.2999 06/15/2023 5.000.00000 14,594,985.00 5.000,000.00 (405,015.00) 3130AKKF2 FEDERAL HOME LOAN BANKS 0.270 94.2924 03/28/2024 5,000.000.00 14,143,860.00 5.000,000.00 (856,140.00) 3133EMLP5 FEDERAL FARM CREDIT BANKS FUNDING CORP 0.320 91.5178 12/23/2024 5,000,000.00 13.727,670.00 5.000,000.00 (1,272,330.00) 3130ALEM2 FEDERAL HOME LOAN BANKS 0.790 88.9862 02/25/2026 5.000.00000 13,347,930.00 5.000,000(10 (1,652,070.00) 3130AMK87 FEDERAL HOME LOAN BANKS 1.050 89.1750 05/26/2026 5.000.000.00 13,376.250.00 5.000.000.00 (1,623,750.00) 3131)AMWTS FEDERAL HOME LOAN BANKS 1.050 88.9989 06/26/2026 5.000,000.00 13,349,835.00 5,000,000.00 (1650,165.00) 3130ANAJ9 FEDERAL HOME LOAN BANKS 1.000 88.5939 07/27/2026 5,000,000.00 13,289,085.00 5.000,000.00 (1710,915.00) 3134GWCM6 FEDERAL HOME LOAN MORTGAGE CORP 0.420 95.0673 01/24/2024 5,000,000.00 14,260,095.00 5,000,000.00 (739,905.00) 3130ALFW9 FEDERAL HOME LOAN BANKS 0.790 88.8317 03/18/2026 5.000.000.00 13,324.75500 5,000,000.00 (1675,245.00) 3130AMS52 FEDERAL HOME LOAN BANKS 1.000 88.9510 06/08/2026 5.000.000.00 13,342,650.00 5.000,000.00 (1.657,350.00) 3130AKLBO FEDERAL HOME LOAN BANKS 0.260 93.2485 06/28/2024 5,000.000.00 13,987,275.00 5,000,000.00 (1012,725.00) 3134GWALO FEDERAL HOME LOAN MORTGAGE CORP 0.500 94.2841 04/29/2024 5,000,00000 14,142,615.00 5,000,000.00 (857,385.00) 3130ANBX7 FEDERAL HOME LOAN BANKS 1.000 88.6270 07/22/2026 5.000.000.00 13.294,050.00 5.000,000.00 (1.705.950.00) 3130AN3B4 FEDERAL HOME LOAN BANKS 1.020 88.8308 07/06/2026 5,000,000.00 13,324,620.00 5.000,000,00 (1675,380.00) 3(35GA3Z2 FEDERAL NATIONAL MORTGAGE ASSOCIATION 0.600 89,1998 11/25/2025 5,000,000.00 13,379,970.00 5,000,000.00 (1620,030.00) 3135GA4R9 FEDERAL NATIONAL MORTGAGE ASSOCIATION 0.420 92.9308 08/23/2024 5,000,000.00 13,939,620.00 5.000,000.00 (1,060,380.00) 31340WT22 FEDERAL HOME LOAN MORTGAGE CORP 0.475 90.9527 03/24/2025 5,000,000.00 13,642.905.00 5,000,000.00 (1357,095.00) 3I30ALWL4 FEDERAL HOME LOAN BANKS 0.720 913872 04/08/2025 5,000.000.00 13,708,080.00 5.000.000.00 (129192000) 3130ANSC5 FEDERAL HOME LOAN BANKS 1.000 88.3921 08/26/2026 5,000.000.00 13,258,815.00 5.000,000.00 (1,741,185.00) 3130ANTS9 FEDERAL HOME LOAN BANKS 1.000 88.3951 08/26/2026 5,000.000.00 13,259,265.00 5.000,000.00 (1,740,735.00) 3130APSM3 FEDERAL HOME LOAN BANKS 1.040 88.3120 09/28/2026 5.000,000.00 13246,800.00 5,000,000.00 (1753,200.00) 3I30APAD7 FEDERAL HOME LOAN BANKS 1.035 88.3458 09/28/2026 5.000,000.00 13.251870.00 5,000,000.00 (1748.130.00) 3130ASH44 FEDERAL HOME LOAN BANKS 4.700 98.7597 06/30/2027 5.000,000.00 14,813,955.00 5.000,000,00 (186,045,00) 3134GXVM3 FEDERAL HOME LOAN MORTGAGE CORP 3.001 97.2144 09/23/2024 5,000,000.00 14,582,160.00 5.000,000.00 (417,840.08) 3130ATEZ6 FEDERAL HOME LOAN BANKS 4.200 99.8518 09/20/2023 5.000.000.00 14,977,770.00 5,000,000.00 (22.230.00) 3130ATEFO FEDERAL HOME LOAN BANKS 4.250 97.7045 09/30/2027 5,000,000,00 14,655,675.00 5,000,000.00 (344,325.00) 3)33E13E2 FEDERAL FARM CREDIT BANKS FUNDING CORP 0.320 96.7870 08/10/2023 5,945,000.00 15,432.687.15 5,945.00000 (512,312.85) 3130ALGJ7 FEDERAL HOME LOAN BANKS 3.010 89.4481 03/23/2026 9,500,000.00 17,442,379.50 8.222,544.54 (780,165,04) 3134GW4C7 FEDERAL HOME LOAN MORTGAGE CORP 3.092 87.2750 10/27/2026 20,000.000.00 17,455,000.00 8,262,79106 (807,79106) 3134GW4C7 FEDERAL HOME LOAN MORTGAGE CORP 3.046 87.2750 10/27/2026 20,000,000.00 17,455,000.00 8,303,155.72 (848,155.72) 3130ALED2 FEDERAL HOME LOAN BANKS 3.001 87,3214 02/24/2027 20.000,000.00 17.464,280.00 8.384,344.70 (920,064.70) 3130ALGJ7 FEDERAL HOME LOAN BANKS 1.000 89.4481 03/23/2026 19.500,000.09 17,442,379.50 9.500,000,00 (2,057,620,50) 3130ALGJ7 FEDERAL HOME LOAN BANKS 1.000 89.4481 03/23/2026 19,500.000.00 17,442,379.50 9,500,000.00 (2,057,620.50) 3130APXH3 FEDERAL HOME LOAN BANKS 2.589 96.2086 11/27/2023 20,000,000.00 19,241.720.00 9,597,985.43 (356.265.43) 3130AQHS5 FEDERAL HOME LOAN BANKS 2,086 90.0368 01/28/2027 20,000,000.00 18,007,360.00 9,683.824.35 (1.676.464.35) 3133ENRR3 FEDERAL FARM CREDIT BANKS FUNDING CORP 1.764 96.2188 03/14/2024 20,000,00000 (9,243,760.00 9,960,558.14 (716,798.14) 3130APBH7 FEDERAL HOME LOAN BANKS 0.590 92.8253 09/30/2024 20.000,000.00 18,565,060.00 9.992,007.30 (1426,947.30) 3133EMKWI FEDERAL FARM CREDIT BANKS FUNDING CORP 0.235 95.2689 12/21/2023 20,000,000.00 (9,053.780.00 9,993,866.83 (940,086.83) 3130APWW1 FEDERAL HOME LOAN BANKS 1.503 89.5217 11/24/2026 20.000.000.00 17.904,340.00 9,997,501.37 (2.093,16137) 3130ATETO FEDERAL HOME LOAN BANKS 3.702 97.9607 09/27/2027 20,000,000.00 19,592,140.00 9,998,004.38 (405,864.38) 3(35OA493 FEDERAL NATIONAL MORTGAGE ASSOCIATION 0.650 89.3740 11/18/2025 20,000,000.00 17,874.800.00 20,000,000,00 (2,125,200.00) 3135GA5A5 FEDERAL NATIONAL MORTGAGE ASSOCIATION 0.350 94.7572 02/23/2024 20,000.000.00 18,951,440.00 20,000,000.00 (1.048,560.00) 3130ATBH9 FEDERAL HOME LOAN HANKS 3.700 99.4945 09/27/2023 20,000.000,00 19,898,900.00 20,000,000.00 (101100.00) 3133ENC99 FEDERAL FARM CREDIT BANKS FUNDING CORP 3.629 96.6266 07/27/2026 20,000,000,00 19,325,320.0() 20,049,42149 (724,10149) 3130ALCV4 FEDERAL HOME LOAN BANKS 2.112 88.8701 02/24/2026 25.000.000.00 22,217,525.00 23,896,501.04 (1,678,976.04) 3130AQF57 FEDERAL FIOME LOAN BANKS 0.736 95.6344 12/22/2023 25.000,000.00 23,908.600.00 24.966,321.92 (1057,72192) 3130ALLP7 FEDERAL HOME LOAN BANKS 0.701 914243 03/172025 25.000,000.00 22,856,075.00 24,968,774.73 (2,112,699.73) 3133EMTW2 FEDERAL FARM CREDIT BANKS FUNDING CORP 0.307 943385 03/0/2024 25,000,000,00 23,584,625.00 24,997,386.20 (1412,76120) 3133EMML3 FEDERAL FARM CREDIT BANKS FUNDING CORP 0.125 99.0165 01/12/2023 25,000,000.00 24,754,125.00 24,999,638.71 (245,513.70 3I30ALTH7 FEDERAL HOME LOAN BANKS 0.510 92.71)9 09/30/2024 25000.000.00 23.177,975.00 25,000,000.00 (1822,025.00) 3130ALEH3 FEDERAL HOME LOAN BANKS 0,700 88.5638 03/16/2026 25,0(10,000.00 22.140,950.00 25,000.000.00 (2,859,050,00) 3130AQ6U2 FEDERAL HOME LOAN BANKS 1.000 94.4737 06/28/2024 25,000,000.00 23,618,425.00 25,000,000.00 (1381,575.00) 3130AQAY9 FEDERAL HOME LOAN BANKS 1.500 89.3194 12/30/2026 25,000,000.00 22,329,850.00 25,000,000.00 (2,670,150.00) 3130ASKB4 FEDERAL FIOME LOAN BANKS 3.350 98.9114 12/29/2023 25,000.000.00 24.727,850.00 25,000,000.00 (272,150.00) 3130ASLE7 FEDERAL 11OME LOAN RANKS 3.203 99.0608 09/29/2023 25,000,000.00 24.765,200.00 25.000,000.00 (234,800.00) 3130ATEU7 FEDERAL HOME LOAN BANKS 4.017 99.9030 06/29/2023 25,000,000.00 24,975,750.00 25,000,000.00 (24,250.00) 3(35O8U43 FEDERAL NATIONAL MORTGAGE ASSOCIATION 2.345 98.7508 09/12/2023 30,000.000.00 29.625.240.00 30,145,540.27 (520,300.27) 3133ENEW6 FEDERAL FARM CREDIT BANKS FUNDING CORP 0.457 97.6982 05/23/2023 50,000,000.00 48,849.100.00 49,973,783.33 (1.124,683.33) 3130AQAQ6 FEDERAL HOME LOAN BANKS 0.500 97.3706 06/30/2023 50.000.000.00 48.685.300.00 50,000.000.00 (1314.700,00) 3130AQ7C1 FEDERAL HOME LOAN BANKS 0.500 97.3706 06/30/2023 50,000,000.00 48,085,300.0(1 5(1,000.000.00 (1,314,700.00) 3130ATES2 FEDERAL HOME LOAN BANKS 4.200 90.0557 0929/2023 50.000.000.00 49927.850.00 50.000.000.00 (72.150.00) 1379 93.0856 04/19/2025 3,417.555.250.110 3,190.488.118.61 3,409,520,471.37 (220,032,352,75) Agency AGCY DISC Cusip Description Yield Markel Price Final Maturity Par Value Market Value Bonk Value Net (Unrealized Gain/Loss 3(3385R-4 FEDERAL HOME LOAN BANKS 1.552 99.5093 11/28/2022 15,000,000.00 14,926.395.00 14,962,783.33 (36.388.33) 313384FY0 FEDERAL HOME LOAN BANKS 2.035 97.4359 05/23/2023 17,189.000.00 16.748.256.85 16,964,984.36 (216.727.51) 313384803 FEDERAL HOME. LOAN BANKS 2.484 98.8129 00312023 20,000,000.00 19,762,580.00 19,833,944.44 (71,364.44) 313384804 FEDERAL HOME LOAN BANKS 2.484 98.8722 0026/2023 20,000,000.00 19,774,440.00 19,840,75000 (66,31000) 3(33(3M70 FEDERAL FARM CREDIT BANKS FUNDING CORP 0.401 99.7598 ((/0(2022 20.000.000.00 19,951960.00 19,993,111.11 (41,151.11) 3(33841C1 FEDERAL HOME LOAN BANKS 4.121 96.2084 08/312023 25,000,000.00 24,052,100.00 24,072.222.23 (20,122.23) 313384FQ7 FEDERAL IIOME LOAN BANKS 3.969 97.5306 05/152023 25,000,000.00 24,382,650.00 24,391055.56 (8,40556) 313384FM6 FEDERAL HOME LOAN BANKS 3.938 97.5700 05/12/2023 25,000.000.00 24,392,500.00 24,403,784.72 (11,284.72) 313384075 FEDERAL HOME LOAN BANKS 3.102 98.1837 03/22/2023 25,000,000.00 24,545,925.00 24,635,694.44 (89,769.44) 3(3384600 FEDERAL HOME LOAN BANKS 1.722 97.9160 04/13/2023 25.000.000.00 24.479.000.00 24,770,972.22 (291,972.22) 313384AC3 FEDERAL HOME LOAN BANKS 1.433 99.1315 01/03/2023 25,000.000.00 24.782,875.00 24.907,305.56 (124,430.56) 3(3385P67 FEDERAL HOME LOAN BANKS 1.511 99.6256 11/16/2022 25,000.000.00 24.906.400.00 24,952,083.33 (45,683.33) 313385M60 FEDERAL HOME LOAN BANKS 1.379 99.7720 (0/31/2022 25,000,000.00 24,943,000.00 24,971458.33 (28.458.33) 313385M60 FEDERAL HOME LOAN BANKS 1.359 99.7720 10/31/2022 25.000.000.00 24,943.000.00 24,971,875.00 (28,875.00) 3(33)5K88 FEDERAL FIOME LOAN BANKS 1.358 99.8872 10/17/2022 25,000.000.00 24,971,800.00 24,985,000.00 (13,200.00) 313)51M62 FEDERAL AGRICULTURAL MORTGAGE CORP 1.228 99.7681 10/31/2022 40,000.000.00 39,907,240.00 39,959,333.33 (52,093.33) 313384FM6 FEDERAL HOME LOAN BANKS 3.938 97.5700 05/12/2023 50,000,000.00 48,785,000.00 48,807.569.45 (22,569.45) 3(3384FTI FEDERAL HOME LOAN BANKS 2.061 97.4976 05/0/2023 50,000.000.00 48,748.800.00 49,354.34722 (605,547.22) 3133848A6 FEDERAL HOME LOAN BANKS 1.474 98.8852 01/25/2023 50,0(10,000.00 49.442,600.00 49,764.777.87 (322,177.871 313384408 FEDERAL HOME LOAN HANKS 1.464 98.9754 0002023 50,0(10.000.00 49,487.700.00 49,782,500.00 (294,800.00) 2.152 98.5915 02/14/2023 582,189,000.00 573,934,221.85 576,325,552.50 (2,391,330.65) Agency CMO FHLMC CMO C nsip Description Vicki Markel Price Final Maturity Par Value Market Value Book Value Net Unrealized Gain/Loss 313701(105 FINS K-027 A2 3.419 99,7092 01/252023 52,530.939.22 52,378.17294 52,375,147.79 3.025.15 313781U65 FHMS K-027 A2 3.419 99.7092 01/25/2023 52,530,939.22 52,378,172,94 52,375,147.79 3,025.15 Agency CMO FNMA CMO 369 Cusip Description Yield Market Price Final Maturity Par Value Market Value Book Value Net Unrealized Gain/Loss 3136AW710 FNA 2017-M8 A2 3.406 94:8609 05/25/2027 13,833,651.90 13,122.721.99 13,683,985,32 (561,263.33) 3136AW730 FNA 2017-M8 A2 3.406 94.8609 05/25/2027 13,833,651.90 13,122,721.99 13,683,98532 (561,263.33) Agency MBS FHLMC Cusip 3137BXQY1 FHMS K-064 A2 3137FNWX4 FHMS K-736 A2 3137F2L13 FHMS K-066 A2 3137FMU67 FHMS K-735 A2 313703612 FHMS K-029 A2 3137B4W138 FHMS K-033 A2 3137B3NX2 FHMS K-031 A2 3137/33612 FHMS K-029 A2 3137B5KW2 FHMS K-035 A2 313785JM6 FHMS K-034 A2 Description Yield Market Price Final Maturity Par Value Market Value Book Value 3,154 94.8228 03/25/2027 1,000,000.00 948,227,71 1.001,627,72 3,655 92,0309 07/25/2026 10,000,000.00 9,203,088,70 9,537,677.10 3.111 942024 06/25/2027 11,095,000.00 10,451,750,84 11,084,946.54 3.518 94.4941 05/25/2026 14,966,810.70 14,142,746.48 14,638,765.73 3,287 99,6553 02/25/2023 17,066,491.16 17,007,670.47 17,045,784.30 3,422 98,9896 07/25/2023 19,620,000.00 19,421,75128 19,543,042.24 3.494 99.3473 04/25/2023 24,099,067.75 23,941,773.62 24,033,723.55 3,660 99,6553 02/25/2023 24,733,842.67 24,648,596,00 24,659,347.09 3,667 99,2257 08/25/2023 24,793,268,50 24,601,301,66 24,705,763.07 3,499 99.2423 07/25/2023 25,000,000,00 24,810,565,50 24,959,650,94 Net Unrealized Gain/Loss (53,400.01) (334,588.40) (633,195.69) (496,019.25) (38,113.83) (121,290.96) (91,949.94) (10,75109) (104,461,41) (149,085.44) 3.499 98.1665 02/15/2024 172,374,480.78 169,177,472,27 171,210,328.28 (2,032,856.01) Agency MBS FNMA Cusip Description Yield Market Price Final Maturity Par Value Market Value Book Value Net Unrealized Gain/Loss 3138LEGR6 FN AN2007 3,059 97,8247 07/01/2023 5.019,463.48 4,910,272.93 4,979,855.72 (69,582.79) 3138LHZL1 FN AN5246 3,365 94.7793 05/01/2027 7,100,000.00 6,729,326.89 7,068,797.95 (339,471.06) 3138LCH81 FN AN0254 3.738 95.2492 12/01/2025 7,490,333.28 7,134,484.77 7,359,985.20 (225,500.43) 3138LENE7 FN AN2188 3.543 92.9597 07/01/2026 10,000,000.00 9,295,965,80 9.823,30L08 (527.335.28) 3138LCHR9 FEDERAL NATIONAL MORTGAGE ASSOCIATION 2.939 95,2492 12/01/2025 14,321,860.80 13,641,462,13 14,309,780.90 (668,318,77) 3138LD5W9 EN AN1760 4,176 93,3778 06/01/2026 15,000,000.00 14,006,674.65 14,614,483,05 (607,808.40) 3138LHUZZ5 FN AN5099 3,076 94,3070 04/01/2027 24,442,806.00 23,051,286.10 24.420,685.21 (1,369,399.11) 3.385 94.4821 06/11/2026 83,374,463.55 78,769,473.28 82,576,889.11 (3,807,415.84) CD CD Cusip Description Yield Market Price Final Maturity Par Value Market Value Book Value Net Unrealized Gain/Loss 89114WNL5 Toronto -Dominion Bank -New York Branch 0.440 100.0000 11/22/2022 15,000,000.00 15,000,000,00 15,000,000,00 0.00 09114WPN9 Toronto -Dominion Bank - New York Branch 0,800 100,0000 01/20/2023 20,000.000,00 20,000,000.00 20,000,000.00 0.00 89114WVA0 Toronto -Dominion Bank - New York Branch 2,200 100.0000 03/20/2023 20,000,000.00 20,000,000.00 20.000,000:00 0.00 89115B6S4 Toronto -Dominion Bank -New York Branch 3.850 100.0000 05/15/2023 20,000,000.00 20,000,000.00 20,000,000.00 0.00 70012U2T1 Royal Bank of Canada New York Branch 0.500 100.0000 11/21/2022 25.000,000.00 25,000,000.00 25,000,000.00 0.00 70012113E3 Royal Bank of Canada New York Branch 0.800 100,0000 01/24/2023 25,000,000.00 25,000,000.00 25,000,000,00 0.00 89114WPS8 Toronto -Dominion Bank - New York Branch 0.810 100.0000 01/25/2023 25,000,000.00 25,000,000,00 25.000,000.00 0.00 78012U4P7 Royal Bank of Canada New York Branch 1,800 100.0000 01/23/2023 25,000,000.00 25,000,00000 25,000,000.00 0.00 780121/406 Royal Bank of Canada New York Branch 1,830 100.0000 01/03/2023 25,000.000.00 25,000,000.00 25.000,000,00 0.00 78012U5A9 Royal Bank of Canada New York Branch 2.050 100.0000 02/13/2023 25,000,000.00 25,000,000.00 25,000,000,00 0.00 78012U5E1 Royal Bank of Canada New York Branch 2.000 100,0000 01/I8/2023 25,000,000,00 25,000,000,00 25,000,000.00 0,00 89114WXR1 Toronto -Dominion Bank- New York Branch 1.308 100.0000 05/22/2023 25,000,000.00 25,000,000,00 25,000,000.00 0.00 78012U6X8 Royal Bank of Canada New York Branch 3,710 100.0000 06/22/2023 25,000.00000 25.000,000.00 25,000,000.00 0.00 89114WNEI Toronto -Dominion Bank - New York Branch 0,430 100.0000 11/21/2022 30,000,000.00 30,000,000.00 30,000.000.00 0.00 2I684XVQ6 Rabobank Nederland - New York Branch 1.720 100,0000 11/21/2022 30.000,000.00 30,000,000.00 30.000,000,00 0.00 78012U4T9 Royal Bank of Canada New York Branch 1,870 100,0000 01/25/2023 35,000,000.00 35,000,000.00 35.000,000,00 0.00 78012U5F8 Royal Bank of Canada New York Branch 2,220 100.0000 03/20/2023 35,000,000.00 35,000,00000 35,000,000.00 0.00 21684XWU6 Rabobank Nederland - New York Branch 1.760 100,0000 11/16/2022 40,000,000,00 40,000,000.00 40.000,000,00 0.00 09114W1P1 Toronto -Dominion Bank - New York Branch 0,300 100.0000 10/27/2022 45,000,000.00 45.000,000,00 45,000,000,00 0.00 78012UZ40 Royal Bank of Canada New York Branch 0,340 100.0000 10/18/2022 50,000,000.00 50,000,000.00 50,000,000,00 0.00 78012UZ57 Royal Bank of Canada New York Branch 0.380 100.0000 11/17/2022 50,000,000.00 50,000,000.00 50,000,000.00 0.00 06367CTN7 Bank of Montreal - Chicago Branch 1.640 100,0000 11/30/2022 50,000,000.00 50.000,000.00 50,000,000.00 0.00 06417MXK6 Bank of Nova Scotia- Houston Branch 0.700 100,0000 01/03/2023 50.000,000,00 50,000,000.00 50,000,000,00 0.00 21684XX10 Rabobank Nederland - New York Branch 2.450 100,0000 02/13/2023 50,000,000.00 50,000,000.00 50,000,000,00 0.00 06367CVY0 Bank of Montreal - Chicago Branch 3.060 100,0000 01/23/2023 50,000,000.00 50,000,000.00 50,000,000.00 0.00 23344NXN 1 DNB Bank ASA - New York Branch 2,100 100,0000 10/05/2022 50,000.00000 50,000.00000 50,000.000,00 0.00 23344NXW1 DNB Bank ASA - New York Branch 2.180 100,0000 10/05/2022 50,000,000.00 50.000.000.00 50,000,000.00 0,00 06367CWS2 Bank of Montreal -Chicago Branch 3,330 100.0000 02/17/2023 50,000,000.00 50,000,000,00 50,000,000.00 0.00 89115B6E5 Toronto -Dominion Bank- New York Branch 3.210 100.0000 01/09/2023 50,000,000.00 50.000,000.00 50,000,000.00 0.00 06417M621 Bank of Nova Scotia- Houston Branch 3.400 100.0000 01/23/2023 50,000,000.(10 50,0(10,(100.00 50,000,000,00 0.00 06417M046 Bank of Nova Scotia- Houston Branch 3,400 100.0000 02/28/2023 50,000,000.00 50,000,(10000 50,000,000,00 0,00 23344NZP4 DNB Bank ASA - New York Branch 2,470 100,0000 10/11/2022 50,000,000.00 50,000,000,00 50,000,000.00 0:00. 655581DCB3 Nordea ABP - New York Branch 4.150 100.0000 0328/2023 50,000,000.00 50,000,000.00 50,000,000,00 0.00 89115BWW6 Toronto -Dominion Bank -New York Branch 4.760 100.0000 08/31/2023 50,000,000.00 50,000,000.00 50,000,000.00 0.00 86959RF88 Svenska Handels AB Publ - New York Branch 3.515 100.0041 02/27/2023 50,000,000:00 50,002,033.70 50,002,033.70 0.00 89114WKA2 Toronto -Dominion Bank- New York Branch 0.310 100.0000 11/03/2022 55,000,000.00 55,000.000.00 55,000,000.00 0.00 09114WMP7 Toronto -Dominion Bank- New York Branch 0,430 100,0000 11/10/2022 75,000,000,00 75,000,000,00 75,000,000.00 0.00 7801202000 Royal Bank of Canada New York Branch 0:450 100.0000 11/08/2022 75,000,000,00 75,000,000.00 75,000,000.00 0.00 869590952 Svenska Handels ABPub1- New York Branch 4.200 100.0000 03/17/2023 75,000,000.00 75,000,000.00 75,000,000.00 0.00 21684XZA7 Rabobank Nederland -New York Branch 3.880 100.0000 05/26/2023 100,000,000,00 100,000,000,00 100,000,000.00 0.00 2.151 100,0001 01118/2023 1,695,000,000,00 1,695,002,033.70 1,695,002,033,70 0.00 CP CP Cusip Description Yield Market Price Final Maturity Par Value Market Value Book Value Net Unrealized Gain/Loss 037850K135 Apple Inc. 2.721 99.9083 10/13/2022 17,966,000.00 17,949,531,17 17,949,830.60 (299.43) 7426M5Q31 Private Export Funding Corporation 3,274 98,6315 03/03/2023 25,000,000.00 24,657,875,00 24,657,875.00 0.00 02314QP78 Amazon,com, Inc. 2.792 99,0146 02/07/2023 25,000,000.00 24,753,645,84 24,753,645.83 0.00 02314QP78 Amazun.com, Inc. 2,791 99,0146 02/07/2023 25,000,000.00 24,753,645,84 24,753,645.84 0.00 63763QLP0 National Securities- Clearing Corporation 3,184 99.5363 11/23/2022 25,000,000.00 24,884,062.50 24,884,062.50 0,00 7426M5NP5 Private Export Funding Corporation 1,454 99,5440 01/23/2023 25,000,000.00 24,886,000.00 24,886,000.00 0.00 63763QLE5 National Securities Clearing Corporation 3,263 99.6052 11/14/2022 25,000,000.00 24,901,305.56 24,901,305.56 0.00 7426M5KXI Private Export Funding Corporation 2,524 99.7917 10/31/2022 25,000,000.00 24,947,916.67 24,947,916.67 0.00 7426M3L23 Private Export Funding Corporation 1.551 99.8631 11/02/2022 25,0(10,000.00 24,965,777.78 24,965,777.78 0.00 03795EKD5 Apple Inc. 2.721 99,9083 10/13/2022 25,000,000.00 24,977,083.33 24,977,500.00 (416.67) 03785EKD5 Apple Inc. 2.721 99,9083 10/13/2022 25,00000000 24,977,083.33 24,977,500.00 (416.67) 46640QPH8 LP. Morgan Securities LLC 3.563 98.6486 02/17/2023 27,000,000.00 26,635.125,00 26,635,125.00 (1.00 46640QNLI 1.P. Morgan Securities LLC 2.200 99.3309 01/20/2023 30,000,000.00 29,799,275,00 29,799,275.00 0.00 63763QKX4 National Securities Clearing Corporation 2.674 99.7792 10/31/2022 30,000,000.00 29,933,750,00 29,933,750.00 0.00 77119MKB2 Roche Holdings, Inc. 2.700 99.9256 10/11/2022 30,000,000.00 29,977,666.67 29,977,666.67 0.00 63763QKX4 National Securities Clearing Corporation 0,905 99.7792 10/31/2022 40,000,000.00 39,911,666,66 39.970,000.00 (58,333.34) 02314Q0057 Amazon.com, Inc. 1,026 99.9887 10/05/2022 40,000,000.00 39,995,466,67 39,995,466.67 0,00 46640QSA0 LP, Morgan Securities LLC 4,377 97.3787 05/10/2023 50,000,000,00 48,689,347.23 48,689,347.23 0:00 46640QSW2 J.P. Morgan Securities LLC 3.956 97.4159 05/30/2023 50,000,000.00 48,707,972.22 48,707,972.22 0.00 63763QN94 National Securities Clearing Corporation 3,590 99,0167 01/09/2023 50,000.000.00 49,508,333.34 49,508,333.34 000 63763QL96 National Securities Clearing Corporation 3.131 99.6642 11/09/2027 50,000,000.00 49,832,083.34 49,832,093.34 0,00'. 63763QK15 National Securities Clearing Corporation 2.491 99,8834 10/18/2022 50,000,000.00 49,941,680.55 49,941,680.55 0.00 03785EKQ6 Apple Inc. 1.592 99.8991 10/24/2022 50,000,000.00 49,949,527.78 49,949,527.78 0,00 370 466400KH3 J.P. Morgan Securities LLC 1.006 99.9556 0/17/2022 50,000,000.00 49,977,777.78 49,977,777.78 0.00 02314QKB4 Amazon.com, Inc. 1.137 99.9686 0/11/2022 50,000.000.00 49.984,305.56 49,984,305,56 0.00 02314QICB4 Amazon.com, Inc. 1.026 99.9686 0/11/2022 50,000,000.00 49,984,305.56 49,985,833.33 (1,527.78) 03785EKD5 Apple Inc. 2.721 99.9083 0/13/2022 60.000,000.00 59,945,000.00 59,946.000,00 (1,000.00) 93)14FKB9 Walmart Inc. 2.782 99.9233 0/11/2022 82,100,000.00 82,037,056.67 82,037,056.67 0.00 037850KD5 Apple Inc. 2.772 99.9083 0/13/2022 100,000,000.00 99,908,333.33 99,908,333,33 0.00 2.493 99.5135 1/25/2022 1,157,066,000.00 1,151,372,600.35 1,151,434,594.22 (61,993.87) MINI Fund MMFUND Cusip Description Yield Market Price Final Maturity Par Value Market Value Rook Value Net Unrealized Gain/Loss 09248U700 BLKRK LQ:FEDFUND INSTL 2.770 1.0000 09/30/2022 1.000,000.00 1,000,000.00 1,000,000,00 0.00 949921126 ALLSPRING:GOVT MM SEL 2,780 1.0000 09/30/2022 1,000.000.00 1.000,000,00 1,000,000,00 0.00 608919718 FEDERATED HRMS GV 0 PRMR 2.870 1.0000 09/30/2022 1,000,000.00 1,000,000.00 1,000,000.00 0.00 31607A703 FIDELITY 1MM,00VT INSTL 2.810 1.0000 09/30/2022 1,000,000.00 1,000,000.00 1,000,000.00 0.00 4812CA538 JPMORGAN:US GVT MM EMPWR 2.730 1.0000 09/30/2022 1,000,000.00 1.000,000.00 1,000,000,00 0.00 48123X819 JPMORGAN:PRIME MM EMPWR 2.980 1.0003 09/30/2022 24,975,012.99 24,982,505.50 24,985,003.00 (2,497.50) 617470707 MORO STAN I LQ:GV I 2.810 1.0000 09/30/2022 24,990,002.00 24,990,002.00 24,995,000.00 (4,998.00) 48123X819 JPMORGAN:PRIME MM EMPWR 2.980 1.0003 09/30/2022 24,985,007.00 24,992.502.50 24.995,001.00 (2,498.50) 48123X819 1PMORGAN:PRIME MM EMPWR 2.980 1.0003 09/30/2022 25.004,994.99 25,012,496.49 25,014,996.99 (2,500.50) 85749T5I7 SS INST INV:US GV MM OPP 2,910 1.0000 09/30/2022 76,000,000,00 76,000,000.00 76,000,000.00 0.00 85749T517 SS INST INV:US GV MM OPP 2.910 1.0000 09/30/2022 130,000,000.00 130,000,000.00 130,000,000.00 0.00 38141W273 GOLDMAN:FS GOVT INST 2.910 1.0000 09/30/2022 240,000,000.00 240,000,000.00 240,000.000.00 0.00 Muni MUNI Cusip 8262396X8 SIERRA CALIF JT CMNTY COLLEGE DIST 0.229 96.6670 08/01/2023 260,000.00 251,334.20 260,000,00 (8,665.80) 757710007 REDONDO BEACH CALIF UNI SCH DIST 1.222 97.6900 08/01/2023 260.000.00 253,994.00 260,000.00 (6,006.00) 074457HA5 BEAUMONT CALIF UNI SCH DIST 0.690 92.5680 08/01/2024 275,00000 254,562.00 275,000.00 (20,438.00) 7975081T6 SAN DIEGIJITO CALIF UN HIGH SCH DIST 0,275 96.7420 08/01/2023 425,000.00 411,153.50 425,000.00 (13,846.50) 826239FY6 SIERRA CALIF JT CMNTY COLLEGE DIST 0,344 925240 08/01/2024 500,000.00 463,120.00 500,000.00 (36,880.00) 799017XT0 SAN MATEO CALIF UN HIGH SCH DIST 0.256 96,2900 09/01/2023 500,000,00 481,450.00 500,000.00 (18,550.00) 074437H03 BEAUMONT CALIF UNI SCH DIST 1.109 89.9430 08/01/2025 500,000.00 449,715,00 500,000.00 (50,285.00) 757710055 REDONDO BEACH CALIF UNI SCH DIST 1.571 95.3360 08/01/2024 500,000.00 476.680.00 500,000.00 (23,320.00) 987388GU3 YOSEMITE CALIF CMNTY COLLEGE DIST 1.440 94.7540 08/01/2024 700,000.00 663,278.00 700,000.00 (36,722.00) 8262396E12 SIERRA CALIF JT CMNTY COLLEGE DIST 0.354 92,9720 08/01/2024 720,000,00 669,398.40 720,000.00 (50,601.60) 987388GT6 YOSEMITE CALIF CMNTY COLLEGE DIST 1.140 97.4400 08/01/2023 750,000.00 730,800.00 750,000,00 (19,200.00) 797508HV3 SAN DIEGUITO CALIF UN HIGH SCH DIST 0.275 96.7420 08/01/2023 1,000,000.00 967,420.00 1,000,000.00 (32,580.00) 802498YY5 SANTA MONICA-MALIBU UNI SCH DIST CALIF 0.396 93.2450 08/01/2024 1,000,000.00 932,450.00 1,000,000.00 (67,550.00) 8024907Z2 SANTA MONICA-MALIBU UN! SCR DIST CALIF 0.669 69.5780 08/01/2025 1,000,000.00 895,780.00 1,000,000,00 (104,220.00) 56781RKT3 MARIN CALIF CMNTY COLLEGE DIST 0.763 89.4740 08/01/2025 1,065,000.00 952,898,10 1,065,000.00 (112,101.90) 419792C95 HAWAII ST 0.247 100,0000 10/01/2022 2,305,000.00 2,305,000.00 2,305,000.00 0.00 419792037 HAWAII ST 0.713 92.5340 10/01/2024 2,500,000.00 2,313,350.00 2.500,000.00 (186.650.00) 8014952P6 SANTA CLARA CALIF UNI SCH DIST 0.210 97.2250 07/01/2023 2,870,000.00 2,790.357.50 2,870,000.00 (79,642.50) 419797029 HAWAII ST 0.422 96.0410 10/01/2023 3,260,000.00 3,130,936,60 3,260,000,00 (129,063.40) 419792045 HAWAII ST 1.033 89.9310 10/01/2025 3,660,000.00 3,291,474.60 3,660,000.00 (368,525.40) 7994082E8 SAN RAMON VALLEY CALIF UNI SCH DIST 0.967 90.5700 08/01/2025 4,505,000.00 4,080,178.50 4,505,000.00 (424,821.50) 882724X11 TEXAS ST 0.508 96.4050 10/01/2023 4,745.000.00 4,574,417.25 4,745,000.00 (170,582.75) 882724XK8 TEXAS ST 0.794 93.3540 10/01/2024 5,810,000.00 5.423,867.40 5.810,000,00 (386,132.60) 419792E92 HAWAII ST 1.033 90.6270 08/01/2025 6.250,000.00 5,664,187.50 6,250,000.00 (585,812.50) 419792F84 HAWAII ST 0.713 93.2570 08/01/2024 9,000,000.00 8,393,130.00 9,000,000.00 (606,870.00) 419792A55 HAWAII ST 0.247 100.0000 10/01/2022 0.000,000,00 10,000,000.00 10,000,000.00 0.00 419792A71 HAWAII ST 0,713 92.5340 10/01/2024 0,000,000.00 9.253,400.00 10,000,000.00 (746,600.00) 419792A63 HAWAII ST 0.422' 96.0410 10/01/2023 0,000,000.00 9,604,100.00 10,000,000.00 (395,900.00) 93974EYB6 WASHINGTON ST 3.350 97.0800 08/01/2025 0,065,000.00 9,771,102.00 10,065.000.00 (293,898.00) 4) 9792A89 HAWAII ST 1,033 94.6720 10/01/2025 2,775,000.00 12,094,348.00 13.418,098.79 (L323.750.79) 93974EYA8 WASHINGTON ST 3.350 98.1930 08/01/2024 3,475,000.00 13,231,506.75 13,475,000.00 (243,493.25) 93974ETF3 WASHINGTON ST 0,470 92.8450 08/01/2024 4,995.000.00 13,922,107.75 14,995,000.00 (1,072892.25) 419792F76 HAWAII ST 0.422 96,8800 08/01/2023 5,000,000.00 14,532,000.00 15,000,000.00 (468,000.00) 93974EXZ4 WASHINGTON ST 3.250 99.2390 08/01/2023 8,840,000.00 1E696,627.60 18,840,000.00 (143,372.40) 93974EYC4 WASHINGTON ST 3.370 95.9840 08/01/2026 20,825,000.00 19,988,668.00 20,825,000.00 (836.332.00) Description 2.914 1.0000 09/30/2022 550,955,016.99 550,977,506.49 550,990,000.99 (12,494.50) Yield Market Price Final Maturity Par Value Market Value Book Value Net Unrealized Gain/Loss 1520 95.5731 08/20/2024 190,335,000.00 181,914,792.65 190,978,098.79 (9,063,306.14) Mutual Fund Open -End Fund Cusip Description Yield Market Price Final Maturity Par Value Market Value Book Value Net Unrealized Gain/Loss CLTRSF CALTRUST --- 1.0086 --- 93,213,169.12 94,017,200.84 94,017,200.84 (0.00) CLTRSF CALTRUST - 1.0086 - 93,213,169.12 94,017,200.84 94,017,208.84 (0.00) Non -US Gov SUPRANATIONAL Cusip Description Yield Market Price Final Maturity Par Value Market Value Book Value Net Unrealized Gein/Loss 45906M3C3 INTERNATIONAL BANK FOR RECONSTRUCTION ANDDEVELOPM 2.540 97.1558 03/28/2024 3,895,000.00 3,784,218.4) 3,878,659,33 (94,440.92) 45950VRA6 INTERNATIONAL FINANCE CORP 1,099 93:8340 01/21/2025 25,000;000.00 23,458,500:00 24,966,733.80 (1,508,233.80) 45950VQG4 INTERNATIONAL FINANCE CORP 0.484 92.0601 09/23/2024 25,000,000.00 23,015,025.00 24,978,395.76 (1,963,370.76) 45950VQL3 INTERNATIONAL FINANCE CORPORATION 0.719 92.5400 10/29/2024 25,000,000.00 23,135,000.00 24,980,038.16 (1,845,038.16) 45950VQZ2 INTERNATIONAL FINANCE CORP 0.829 95.8790 01/19/2024 25,000.000.00 23,969,750.00 24,987,523.12 (1,017.773.12) 45950VPQ3 INTERNATIONAL FINANCE CORP 0.273 92.3920 08/22/2024 25,000,000.00 23,098,000.00 24,989,303.72 (1,891,303.72) 0.737 93.4560 08/25/2024 128,895,000.00 120,460,49341 128,780,653.90 (8,320,160.49) Repo REPO O'usip Description Yield Market Price Final Maturity Par Value Market Value Book Value Net Unrealized Gain/Loss RPI0032022295 RIVCOJEFFERIES REPO 2.950 100.0000 10/03/2022 230,000,000.00 230,000,000.00 230,000,000.00 0,00 8P10032022295 RIVCO_JEFFERIES REPO 2.950 100.0000 10/03/2022 230,000,000.00 230,000,000.00 230,000,000.00 0.00 US Gov T -HILL Cusip 912796X53 UNITED STATES TREASURY 912796031 UNTIED STATES TREASURY 912796X79 UNITED STATES TREASURY 9)2796W70 UNITED STATES TREASURY 912796YAI UNITED STATES TREASURY 912796YA1 UNITED STATES TREASURY 912796031 UNITED STATES TREASURY Description Yield Market Price Final Maturity Par Value Market Value Book Value Net Unrealized Gain/Loss 2.850 97.4110 06/15/2023 10,000,000.00 9,741,104.20 9,803,502,11 (62,397.91) 1.723 98.2496 03/23/2023 10,000,000.00 9,824,962.50 9,919,290.69 (94,328.19) 2.188 99.4211 12/15/2022 10,000.000.00 9,942,106.90 9,955,520.84 (13,413.94) 1.532 99.5812 11/25/2022 10,000,000.00 9,958,115.30 9,977,083.33 (18,968.03) 3.099 98.6589 02/16/2023 25,000,000.00 24,664,722.25 24,71),541.71 (46,819.46) 3,099 98.6589 02/16/2023 25,000,000.00 24,664.722.25 24,711,541.71 (46,819.46) 1.623 98,2496 03/23/2023 25,000,000.00 24,562,406.25 24,809,940.25 (247.534.00) 371 912796333 UNITED STATES TREASURY 912796T33 UNITED STATES TREASURY 912796534 UNITED STATES TREASURY 912796P94 UNITED STATES TREASURY 9127960.489 UNITED STATES TREASURY 912796M89 UNITED STATES TREASURY 912796M89 UNITED STATES TREASURY 912796733 UNITED STATES TREASURY 912796N96 UNITED STATES TREASURY 912796X95 UNITED STATES TREASURY 912796X95 UNITED STATES TREASURY 912796534 UNITED STATES TREASURY 912796R27 UNITED STATES TREASURY 912796N96 UNITED STATES TREASURY 912796534 UNITED STATES TREASURY 912796Y84 UNITED STATES TREASURY 912796M89 UNITED STATES TREASURY 912796M89 UNITED STATES TREASURY 1.627 98.5938 02/23/2023 25,,00,000.00 24,648,458.25 1.315 98.5938 02/23/2023 25,000,000.00 24,648,458,25 1.359 98.9139 01/26/2023 25,000,000.00 24,728,472.25 0.244 99.5206 12/01/2022 25.000.000.00 24,880,156.25 0.301 99.9785 10/06/2022 25,000,000.00 24.994,625.00 0.203 99,9785 10/06/2022 25,000.000.00 24,994,625,00 0.119 99.9785 10/06/2022 25,000,000.00 24,994,625.00 1.630 98.5938 02/23/2023 30.000,000.00 29,578,149.90 0.999 99.7645 11/03/2022 35,000.000.00 34,917.570.10 2,650 99,1579 01/05/2023 50,000,000.00 49,578,958,50 2.637 99,1579 01/05/2023 30,00(0000.00 49,578,958.50 1.293 98.9139 01/26/2023 50,000.000.00 49,456,944.50 0.381 99.2230 12/29/2022 50.000,000.00 49,611,521.00 0.203 99.7645 11/03/2022 30,000,000.00 49,887,243.00 1.360 98.9139 01/26/2023 75,000,000.00 74,185,416.75 2.736 99.5889 11/22/2022 75,000,000.00 74,691,666.75 0.435 99.9785 10/06/2022 75,000,000.00 74,983,875.00 0,118 99,9785 10/06/2022 110,000,000.00 109,976,350.00 24,840,147.57 74,870,607,64 24,891,998.44 24,989,833.32 24,998,970.49 24,999,305,50 24,999,592.01 29,807,875.00 34,968,558.33 49,656,000.00 49,657,666.66 49,794,437.50 49,953,645.83 49.990,033.33 74.675,812.50 74,709,617.92 74,995,540.10 109,998,227.78 (191.689.32) (222,149.39) (163,526.19) (109,677.07) (4.345.49) (4,68056) (4967.01) (229,725.10) (50,988.23) (77,041.50) (78,708.16) (337.493.00) (342.124.83) (108,590.33) (490,395.75) (17,951.17) (11.665.10) (21,877.78) UNITED STATES TREASURY US Gov US GOV Cusip 912820E09 UNI'T'ED STATES TREASURY 9!2828R69 UNITED STATES TREASURY 91282CDG3 UNITED STATES TREASURY 91282CAP6 UNITED STATES TREASURY 912828XX3 UNITED STATES TREASURY 912828T91 UNITED STATES TREASURY 912828XT2 UNITED STATES TREASURY 912820683 UNITED STATES TREASURY 912820BI13 UNITED STATES TREASURY 912828069 UNITED STATES TREASURY 91282CEG2 UNITED STATES TREASURY 912820080 UNITED STATES TREASURY 912828401 UNITED STATES TREASURY 9! 28285K2 UNITED STATES TREASURY 912828ZC7 UNITED STATES TREASURY 912828/46 UNITED STATES TREASURY 912828046 UNITED STATES TREASURY 9128208103 UNITED STATES TREASURY 91282CCZ2 UNITED STATES TREASURY 91282CDM0 UNITED STATES TREASURY 912828ZL7 UNITED STATES TREASURY 91282CEW7 UNITED STATES TREASURY 9128284R8 UNITED STATES TREASURY 912828456 UNITED STATES TREASURY 9128206W7 UNITED STATES TREASURY 912810FAI UNITED STATES TREASURY 912810FAI UNITED STATES TREASURY 912810EZ7 UNITED STATES TREASURY 912828Z92 UNITED STATES TREASURY 912820022 UNITED STATES TREASURY 91282CBQ3 UNITED STATES TREASURY 91282CER8 UNITED STATES TREASURY 91282CCJ8 UNITED STATES TREASURY 912820E08 UNITED STATES TREASURY 912828391 UNITED STATES TREASURY 91282CAM3 UNITED STATES TREASURY 91282CDA6 UNITED STATES TREASURY 91282CAM3 UNITED STATES TREASURY 91282CAB7 UNITED STATES TREASURY 912820604 UNITED STATES TREASURY 912828XX3 UNITED STATES TREASURY 91282CCW9 UNITED STATES TREASURY 912828YV6 UNITED STATES TREASURY 912828ZF0 UNITED STATES TREASURY 91282O305 UNITED STATES TREASURY 91282C0''W9 UNITED STATES TREASURY 912828ZF0 UNITED STATES TREASURY 91282CCD1 UNITED STATES TREASURY 9I282CDB4 UNITED STATES TREASURY 912820009 UNITED STATES TREASURY 91282CAR2 UNITED STATES TREASURY 91282CCDI UNITED STATES TREASURY 9(282O13M2 UNITED STATES TREASURY 91282CCX7 UNITED STATES TREASURY 91282CCX7 UNITED STATES TREASURY 9128206X8 UNITED STATES TREASURY 9I282CBU4 UNITED STATES TREASURY 912820BD2 UNITED STATES TREASURY 912820602 UNITED STATES TREASURY 9I282CEF4 UNITED STATES TREASURY 912828ZH6 UNITED STATES TREASURY 9128200F4 UNITED STATES TREASURY 912820E66 UNITED STATES TREASURY 91282CBT7 UNITED STATES TREASURY 912828456 UNITED STATES TREASURY 912828406 UNITED STATES TREASURY 9128284A5 UNITED STATES TREASURY 912828W71 UNITED STATES TREASURY 91282CC18 UNITED STATES TREASURY 9I282CDA6 UNITED STATES TREASURY 912828E123 UNITED STATES TREASURY 912828207 UNITED STATES TREASURY 91282CBG5 UNITED STATES TREASURY 9128201305 UNITED STATES TREASURY 912828Z08 UNITED STATES TREASURY 912820660 UNITED STATES TREASURY 91282CBRI UNITED STATES TREASURY 912820/305 UNITED STATES TREASURY 91282CAX9 UNITED STATES TREASURY 912820B04 UNITED STATES TREASURY 91282CBU4 UNITED STATES TREASURY 912828TY6 UNITED STATES TREASURY 912828592 UNITED STATES TREASURY 912828229 UNITED STATES TREASURY Description 1.276 99.3304 12/14/2022 940,000,000.00 933,689,213.65 936,687,090.63 (2,997,876.98) Yield Market Price Final Maturity Par Value Markel Value Book Value Net Unrealized Gain/Loss 3,269 959668 08/31/2027 5.000,000.00 4,708,437.50 2.304 98.3906 05/312023 5,000,000.00 4,919,531.25 2.884 88.7188 10/31/2026 0,000,000.00 8,871,875.00 2.274 95.8281 10/15/2023 0,000,000.00 9,582,812.50 3.217 96.1719 06/30/2024 0,000.000.00 9,617,187.50 2,617 97.1719 10/31/2023 0,000,000.00 9,717,187.50 2.567 96.3281 05/31/2024 0,000,000.00 9,632,812.50 0.593 88.0938 01/31/2026 0,000,090.00 8,809,375.00 0.586 88.0938 01/31/2026 0.000.000.00 8,809,375.00 2.082 98.3906 05/31/2023 0,000,000.00 9,839,062.50 2.358 97.0000 03/31/2024 0,000.000.00 9,700,000.00 2.647 96.0625 04/15/2025 0.000,000.00 9,606,250.00 2.336 98.9219 06/30/2023 0,000,000.00 9,892,187.50 2.300 98.5156 10/31/2023 0,000.000.00 9,851,562.50 0.540 92.8750 02/28/2025 0,000,000.00 9,287,500.00 0.799 91.8750 02/152026 0,000.000.00 9,187.500.00 0.670 91.8750 02/15/2026 0.000.000.00 9.187,500.00 2.447 88.0938 01/31/2026 5,000,000.00 3,714.062.30 2.540 88.0313 09/30/2026 5,000,000.00 3,204,687.50 2.495 95.7188 11/30/2023 5,000,000.00 4,357,812.50 0.445 90.5625 04/30/2025 5,000,000.00 3,584,375.00 3.213 96.4219 06/302027 5,000.000.00 4,463,281.25 2.799 96.4844 05/31/2025 5,000,000.00 4,472,656.25 2.070 99.1250 05/31/2023 5,000.000.00 4,868,750.00 3.109 96.4219 06/30/2027 5,000,000.00 4,463,281.25 3.483 109.6406 08/15/2027 5,000.000.00 6,446,093.75 3.247 109.6406 08/15/2027 5,000,000.00 6,446,093.75 3.048 109.6563 02/15/2027 5,000,000.00 6,448,437.50 2.845 84.8750 05/31/2027 _0.000,000.00 6,975.000.00 0.982 88.0313 09/30/2026 20,000.000.00 7,606,250.00 0.591 88.2500 02/28/2026 20,000,000.00 7,650,000.00 2.563 97.1250 05/31/2024 20,000,000.00 9,425,000.00 0.882 88.5625 06/30/2026 20,000,000.00 7.712.500.00 2.502 97.1250 05/31/2024 20,000,000.00 9,425,000.00 0.319 97.1719 10/31/2023 20,000,000.00 9,434,375,00 0.950 88.8750 09/30/2025 25,000,000.00 22,218,750.00 2.185 96.0781 09/30/2023 25.000,000.00 24,019,531.25 0.815 88.8750 09/30/2025 25600000.00 22,218,750.00 0.675 89.3750 07/31/2025 25.000,000.00 22,343,750.00 0.700 88.4375 12/31/2025 25,000,000.00 22,109.375.00 2.558 96.1719 06/30/2024 25,000,000.00 24,042,968.75 0.902 87.7344 08/31/2026 25.000,000.00 21,933.593,75 1.747 94.3438 11/30/2024 25,000.000.00 23,585,937.50 0.647 91.2188 03/31/2025 25,000.000.00 22,804,687.50 1.088 98.8125 01/31/2023 25,000,000.00 24,703,125.00 0.832 87.7344 08/302026 25,000,000,00 21,933593.75 0.619 91,2188 03/31/2025 25.000,000,00 22,804,687.30 0.551 97.4219 05/31/2023 25,000,000.00 24,355,468.75 0.754 92.9688 10/15/2024 25,000000.00 23,242.187.50 0.384 96,6875 07/31/2023 25,000,000,00 24171,875.00 2.413 99.7500 10/31/2022 23,000,000.00 24,937500.00 0.330 97.4219 05/31/2023 25.000.000.00 24,355,468.75 0.219 94.4531 02/152024 25,000,000.00 23,613,281.25 0.439 92.7656 09/15/2024 25,000,000,00 23,191406.25 0.438 92.7656 09/15/2024 25.000000.00 23,191,406,23 0.307 97.7500 04/30/2023 25.000,000.00 24,437,500.00 0.288 98.1563 03/31/2023 25,000,000.00 24,539,062.50 (1.448 99.1875 12/31/2022 25,000.000.00 24,796,875.00 0,415 99,1875 12/31/2022 25.000,000.00 24,796,875.00 2.503 93.4531 03/31/2027 25,000,000.00 23,363,281.25 0.266 98.0469 04/15/2023 25,000.000.00 24,511,718.75 2.502 93.4531 03/31/2027 25,000,000,00 23,363,281.25 4.215 100.0781 09/30/2024 25,000,000,00 25,019,531,25 0.715 88.8125 03/31/2026 25,000,000.0() 22,203,125.00 2.083 99.1250 05/31/2023 25.000,000.00 24,781 250.00 2.060 99.1250 05/31/2023 25,000000.00 24,781250.00 0.254 99.5156 02/28/2023 25,000,000,00 24,878,906.25 2.395 96.8281 03/31/2024 30,000,000.00 29,048,437.50 0.906 88.5625 06/30/2026 35,000.000.00 30,996.875.00 2.157 96.0781 09/30/2023 50,000.000.00 48,039,062.50 2.080 98.5938 05/15/2023 50,000,000.00 49,296.875.00 0.469 97.3125 06/15/2023 50,000,000.00 48,656,250.00 0.506 98.8125. 01/31/2023 50,000000.00 49,406,250.00 0.475 98.8125 01/31/2023 50,000,000.00 49,406,250.00 0.293 97.6094 05/15/2023 50,000,000.00 48,804,687.50 0.301 98.5000 02/28/2023 50,000,000.00 49,250,000.00 0.287 94.2969 03/15/2024 50,000,000.00 47,148,437.50 0.259 98.8125 01/31/2023 50.000000.00 49,406.250.00 0.318 99.4688 11/30/2022 50,000000.00 49,734,375.00 0.159 98.1563 03/31/2023 50,000,000.00 49,078,125,00 0.147 98.1563 03/31/2023 50,000,000.00 49,078,125.00 1.482 99.7969 11/15/2022 50,000,000.00 49,898,437.50 0.334 97.5781 07/31/2023 50,000000.00 48,789,062.50 0.581 99.4063 0)/15/2023 100,000.000.00 99,406,250.00 4,967,552.56 4,977,878.24 9.331,710.49 9,782,071.87 9,795,820,78 9,895,622,70 9.908,630.19 9,928,444.96 9.930,749.33 9.970,148.03 9,984,302.33 9,994,699.22 10,021,085.70 10.060,616.63 10,139,646.32 10,272956.82 10,316,769.96 14,017,056.19 14,062,364.65 14,660,769.09 14,973,215.11 15,024,094 95 15,028,809.12 15,066,456.18 15,092,207.66 16>,925,640.82 17,095,120.43 17,175,319.22 17.975,151.89 19,916,712.52 19,938,864.77 19,979,828.77 19,994;877.91 19.999.350.21 20,281,545.69 24,486,095.84 24.528,420.11 24.584,269.12 24.703,019.97 24,740,297.06 24,763,898.03 24.855,081.81 24,870,510.11 24,909,713.31 24,920,208 57 24,922,012.73 23926,44/14 24,929,740.29 24,935,255.70 24.946,491.32 24,953,640.11 24,966,181.32 24,967,916.23 24.968,782.97 24.969,392.12 24.973,687.26 24.979,837.51 24979,949,19 24.981,979.71 24,996,487.37 24,997,885.02 24,998,243.69 25,016,578.85 25,030,104.29 25,108,535.88 25.112,343.17 25,243,548.77 29,882,495.08 34,960,031.67 49.070212.89 49,899,349.68 49,923,116.34 49,936,541.29 49.941,807.92 49,947,979.85 49,963,905.29 49,973,233.44 49.977,725.88 49,984,199.44 49,991,674.69 49,994,605.57 50,008,692.48 50.379,148.15 100,265,690.10 (169.115.06) (58,346.99) (459,835.49) (199,199.371 (178.633.28) (178,435.20) (275.817.69) (1,119.069.96) (1,121374.33) (131,085.33) (284302.33) (388.449.22) (128,898.20) (209.054.13) (852,146.32) (1,085,456.82) (1,129,269.96) (802.993.69) (857.677.15) (302,956.59) (1,388.840.11) (560,813.70) (556,152.87) (197,706.18) (628,926.41) (479.547.07) (649,026.68) (726,881.72) (1000,151.89) (2,31(1.462.52) (2,288,864.77) (554,828.77) (2,282,377.91) (574,350.21) (847,170.69) (2,267,345.84) (508.888.86) (2,365,519,12) (2.359,869.97) (2,630.922.06) (720.929.28) (2.921,488,06) (1.284,572.61) (2.105,025.81) (217,083.57) (2,988,418.98) (2,121,754.64) (574.271.54) (1693,068.20) (774,616.32) (16,140.11) (610,712.57) (1,354,634.98) (1,777,376.72) (1,777,985.87) (536,187.26) (440,775.01) (183,074.19) (185.104.71) (1,633,206.12) (486.166.27) (1,634962.44) 2,952,40 (2,826,979.29) (327,285.88) (331,093.17) (364,642.52) (834,057.58) (3,963,156.67) (1.031.150.39) (60/474.68) (1,266.866.34) (530,291.29) (535.557.92) (1,143,292.35) (713,905.29) (2,824,795.94) (571475.88) (249.824.44) (913,549.69) (916,480.57) (110,254.981 (1590.085.65) (859,440.10) 372 UNITED STATES TREASURY 1.160 96.0388 05/03/2024 2,130,000,000.00 2,044,201,562.50 2,127,853,590.60 (83,652,028.10) Cusip Description Yield Market Price Final Maturity Par Value Market Value Book Value Net Unrealized Gain/Loss 1.758 91.2002 01/07/2024 11,437,321.97156 11,069,505,584.53 11,402,435,638.04 (332,930,053.51) 373 COUNTY O F RIVERSIDE TREASURER -TAX CO LLEC TO R CAPITAL MARKES COUNTYADM INISTRATIVE CENTER 4080 LEMON STREET, 41H FLOOR, RIVERSIDE, CA 92502-2205 AGENDA ITEM 6H RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: December 14, 2022 TO: Riverside County Transportation Commission FROM: Audit Ad Hoc Committee Monica Morales, Senior Management Analyst Lorelle Moe -Luna, Multimodal Services Director THROUGH: Anne Mayer, Executive Director SUBJECT: Federal Transit Administration Triennial Review Fiscal Year 2022 Results AUDIT AD HOC COMMITTEE AND STAFF RECOMMENDATION: This item is for the Commission to: 1) Receive and file a report on the Fiscal Year 2022 Triennial Review of the Commission performed by the Federal Transit Administration (FTA). BACKGROUND INFORMATION: Pursuant to Chapter 53 of Title 49, United States Code Section 5307, the FTA is required to conduct a review at least every three years for recipients of Urbanized Area Formula Grant funds. The Commission is a recipient of Urbanized Area Formula Grant funds, and therefore, subject to FTA review. The last review was competed in June 2018. FTA does not consider this an audit, but rather a review of an agency's compliance with federal requirements, determined by examining a sample of grant management and program implementation practices. The Triennial Review examines the following 23 areas: 1. Legal 2. Financial Management and Capacity 3. Technical Capacity — Award Management 4. Technical Capacity — Program Management and Subrecipient Oversight 5. Technical Capacity — Project management 6. Transit Asset Management (TAM) 7. Satisfactory Continuing Control 8. Maintenance 9. Procurement 10. Disadvantaged Business Enterprise (DBE) 11. Title VI 12. Americans with Disabilities Act (ADA) — General 13. Americans with Disabilities Act (ADA) — Complementary Paratransit (Not applicable) 14. Equal Employment Opportunity Agenda Item 6H 375 15. School Bus (Not applicable) 16. Charter Bus (Not applicable) 17. Drug -free Workplace Act 18. Drug and Alcohol Program 19. Section 5307 Program Requirements 20. Section 5310 Program Requirements (Not applicable) 21. Section 5311 Program Requirements (Not applicable) 22. Public Transportation Agency Safety Plan (Not applicable) 23. Cybersecurity (Not applicable) There were multiple steps of the FTA Triennial review process. Once being notified by FTA in November 2021 that the Commission was going to be reviewed in FY 2022, FTA provided the most recent Contractors Manual (FY 2022) and a self -assessment questionnaire. The FTA Contractor's Manual assists agencies, such as the Commission, in determining what is required to provide FTA for review. The Contractor's Manual provides relevant federal requirements and agency examples in order to reduce the number of questions directed to FTA. The Commission reviewed the materials provided and confirmed that of the 23 areas for review listed above, seven (7) are not applicable to the Commission. The remaining 16 areas were then subject to review by the FTA. Staff provided all requested documents to FTA for review in accordance with the self -assessment questionnaire and FTA Contractor's Manual. The next major step in the FTA Triennial Review process was the site visit. FTA staff and the reviewers met with Commission staff virtually for a site review from June 22 — 24, 2022 to discuss the documents provided and to ask follow-up questions. The FTA reviewers identified seven (7) findings in six (6) areas that were described as deficiencies at the end of the site visit and documented these findings in the final report (Attachment 1). The seven (7) findings are summarized in the table below: Deficiency Section Deficiency Description Status 4. Technical Capacity — Program Management and Subrecipient Oversight. Agreement with the Southern California Regional Rail Authority (SCRRA) missing information on federal subawards Closed as of October 26, 2022. Staff amended the current FY 2023 funding agreement with SCRRA to include additional federal subaward details as necessary. 6. TAM Missing documentation of Accountable Executive approval of the TAM Plan Closed as of August 15, 2023. Staff provided a signed TAM Plan by the Accountable Executive (Executive Director). 7. Satisfactory Continuing Control Property records missing information Closed as of October 5, 2022. Staff provided updated federal property records. Agenda Item 6H 376 7. Satisfactory Continuing Control Property records not submitted annually as required Closed as of October 26, 2022. Staff uploaded the requested federal property records to the FTA database and updated internal procedures accordingly. 9. Procurement Missing FTA Clauses in Procurement Procedures Closed as of August 15, 2022. Staff submitted revised Procurement Procedures to include all applicable FTA clauses. 10. DBE Insufficient documentation of written certification of DBE monitoring Closed as of July 20, 2022. Staff submitted a process for making written certifications of DBE monitoring. 12. Americans with Disabilities Act — General Vanpool procedures missing required ADA requirements Closed as of November 18, 2022. Staff revised the Vanpool Procedures to include the necessary ADA procedures. The last step in the FTA Triennial review process was to complete corrective actions to address the deficiencies identified in the final report. Staff has already taken the necessary steps to correct the deficiencies identified and is fully committed to ensuring the Commission remains in compliance with FTA requirements. FISCAL IMPACT: There is no fiscal impact for this item. Attachment: FY 2020 FTA Triennial Review Final Report Agenda Item 6H 377 rr U.S. Department of Transportation Federal Transit Administration August 26, 2022 REGION IX Arizona, California, Hawaii, Nevada, Guam, American Samoa, Northern Mariana Islands 90 7th Street 888 South Figueroa Street Suite 15-300 Suite 440 San Francisco, CA 94103-6701 Los Angeles, CA 90017-5467 415-734-9490 213-202-3950 Mr. V. Manuel Perez Chair, Riverside County Transportation Commission 4080 Lemon St, 3rd Floor Riverside, CA 92502 RE: Federal Transit Administration FY 2022 Triennial Review — Final Report Dear Mr. Perez: I am pleased to provide you with a copy of this Federal Transit Administration (FTA) report as required by 49 U.S.C. Chapter 53 and other federal requirements. The enclosed final report documents the FTA's Fiscal Year (FY) 2022 Triennial Review of the Riverside County Transportation Commission (RCTC) in Riverside, California. Although not an audit, the Triennial Review is the FTA's assessment of the RCTC's compliance with federal requirements, determined by examining a sample of award management and program implementation practices. As such, the Triennial Review is not intended as, nor does it constitute, a comprehensive and final review of compliance with award requirements. Due to the Coronavirus 2019 (COVID-19) Public Health Emergency, a virtual site visit was conducted for this Triennial Review. In addition, the review was expanded to address the RCTC's compliance with the administrative relief and flexibilities the FTA granted and the requirements of the COVID-19 Relief funds received through the Coronavirus Aid, Relief, and Economic Security (CARES) Act; Coronavirus Response and Relief Supplemental Appropriations Act (CRRSAA) of 2021; and American Rescue Plan (ARP) Act of 2021. The Triennial Review focused on the RCTC's compliance in 23 areas. Deficiencies were found in six (6) areas: (i) Technical Capacity — Program Management and Subrecipient Monitoring, (ii) Transit Asset Management, (iii) Satisfactory Continuing Control, (iv) Procurement, (v) Disadvantaged Business Enterprise, (vi) Americans with Disabilities Act — General. Six (6) areas were not applicable. The RCTC had no repeat deficiencies from the FY 2018 Triennial Review. 378 2 Regulations and Guidance As the RCTC moves forward with its transit program, the FTA would like to provide a look - ahead for future oversight activities related to new and/or updated requirements, below. Cybersecurity Certification for Rail Rolling Stock and Operations The National Defense Authorization Act for Fiscal Year 2020, Pub. L. 116-92, §7613 promulgated the addition of U.S.C. Section 5323(v). This new requirement instructs a recipient that operates a rail fixed guideway public transportation system to certify to the FTA that it established a process to develop, maintain, and execute a written plan for identifying and reducing cybersecurity risks. Recipients are to use the approach described in the voluntary standards and best practices developed by the National Institute of Standards and Technology (NIST) and the Secretary of Homeland Security in consultation and coordination with various stakeholders. Recipients are to also identify hardware and software it determines should be tested and analyzed by a third party to mitigate cybersecurity risk. For the FY 2022 review cycle, the FTA is deploying a "soft launch" in determining, if and how, recipients are developing their plan for identifying and reducing cybersecurity risks. Recipients are to certify in TrAMS by correctly completing Category 20 of the Annual Certifications and Assurances to indicate their compliance with this requirement. For the FY 2025 review cycle, this requirement will be reviewed for full compliance. For additional information about the cybersecurity framework, visit the NIST's website at: https://www.nist.gov/cyberframework/framework. Thank you for your cooperation and assistance during this Triennial Review. If you need any technical assistance or have any questions, please do not hesitate to contact Ms. Mahilet Amare, General Engineer, at (213) 629-8610 or by email at mahilet amare@dot.gov. Sincerely, For Ray Tellis Regional Administrator Enclosure 379 FINAL REPORT FISCAL YEAR 2022 TRIENNIAL REVIEW of Riverside County Transportation Commission (RCTC) Riverside, CA ID: 5807 Performed for: U.S. DEPARTMENT OF TRANSPORTATION FEDERAL TRANSIT ADMINISTRATION REGION 9 Prepared By: Calyptus Consulting Group, Inc. Scoping Meeting Date: March 1, 2022 Site Visit Date: June 22-28, 2022 Draft Report Date: July 28, 2022 Final Report Date: August 26, 2022 380 Table of Contents I. Executive Summary 1 II. Review Background and Process 3 1. Background 3 2. Process 3 3. Metrics 4 III. Recipient Description 5 1. Organization and Services 5 2. Award and Project Activity 6 IV. Results of the Review 8 1. Legal 8 2. Financial Management and Capacity 8 3. Technical Capacity — Award Management 8 4. Technical Capacity — Program Management & Subrecipient Oversight 8 5. Technical Capacity — Project Management 11 6. Transit Asset Management 11 7. Satisfactory Continuing Control 12 8. Maintenance 14 9. Procurement 14 10. Disadvantaged Business Enterprise (DBE) 22 11. Title VI 23 12. Americans with Disabilities Act (ADA) General 23 13. ADA — Complementary Paratransit 25 14. Equal Employment Opportunity 25 15. School Bus 26 16. Charter Bus 26 17. Drug Free Workplace Act 26 18. Drug and Alcohol Program 26 19. Section 5307 Program Requirements 27 20. Section 5310 Program Requirements 27 21. Section 5311 Program Requirements 27 22. Public Transportation Agency Safety Plan (PTASP) 28 23. Cybersecurity 28 V. Summary of Findings 29 VI. Participants 31 VII. Appendices 33 381 I. Executive Summary This report documents the Federal Transit Administration's (FTA) Triennial Review of the Riverside County Transportation Commission (RCTC) of Riverside, California. The FTA wants to ensure that awards are administered in accordance with the requirements of federal public transportation law 49 U.S.C. Chapter 53. The review was performed by Calyptus Consulting Group, Inc. (Reviewer). During the virtual site visit, administrative and statutory requirements were discussed, and documents were reviewed. Due to the Coronavirus 2019 (COVID-19) Public Health Emergency, a virtual site visit was conducted for this Triennial Review. In addition, the review was expanded to address the RCTC's compliance with the administrative relief and flexibilities FTA granted and the requirements of the COVID-19 Relief funds received through the Coronavirus Aid, Relief, and Economic Security (CARES) Act; Coronavirus Response and Relief Supplemental Appropriations Act (CRRSAA) of 2021; and American Rescue Plan (ARP) Act of 2021. The RCTC was also requested to share if and/or how it suspended, deviated from, or significantly updated or altered its transit program due to the public health emergency. The Triennial Review focused on the ROTC's compliance in 23 areas. Six (6) areas were not applicable. Deficiencies related to the COVID-19 Relief funds have been clearly identified as part of the deficiency description in the respective review area. Deficiencies were found in the areas listed below. Review Area Deficiencies Code Description Technical Capacity - Program Management and Subrecipient Oversight (TC-PgM) TC-PgM3-2 Written agreement missing required elements Transit Asset Management (TAM) TAMS -2 Accountable executive responsibilities not implemented Satisfactory Continuing Control (SCC) SCC1-1 Property records missing information SCC1-3 Property reports not submitted as required Procurement (P) P11-1 Missing FTA clauses Disadvantaged Business Enterprise (DBE) DBE 12-3 Insufficient documentation of written certification of DBE monitoring Americans with Disabilities Act - General (ADA-GEN) ADA-GEN5-1 Demand response service deficiency 2022 Triennial Review - Riverside County Transportation Commission 1 1 P a ge 382 Subsequent to the virtual review, RCTC provided corrective action documentation to address the deficiencies noted in the TAM, Procurement, and DBE review areas, closing these deficiencies. 2022 Triennial Review - Riverside County Transportation Commission 2 1 P a g e 383 II. Review Background and Process 1. Background The United States Code, Chapter 53 of Title 49 (49 U.S.C. 5307(f)(2)) requires that "At least once every 3 years, the Secretary shall review and evaluate completely the performance of a recipient in carrying out the recipient's program, specifically referring to compliance with statutory and administrative requirements..." This Triennial Review was performed in accordance with the FTA procedures (published in FTA Order 9010.1B, April 5, 1993). The Triennial Review process includes a review of the recipient's compliance in 23 areas. The basic requirements for each of these areas are summarized in Section IV. This report presents the findings from the Triennial Review of the RCTC. The review concentrated on procedures and practices employed since the RCTC's previous Triennial Review; however, coverage was extended to earlier periods as needed to assess the policies in place and the management of award funds. The specific documents reviewed and referenced in this report are available through the FTA's Los Angeles Office or the recipient's office. 2. Process The Triennial Review includes a pre -review assessment, a desk review and a scoping meeting with the FTA Los Angeles Office, and a virtual site visit. Due to the COVID-19 Public Health Emergency, a virtual site visit was conducted of each recipient. In addition, the review was expanded to address the recipient's compliance with the administrative relief and flexibilities FTA granted and the requirements of the COVID-19 relief funds received through the CARES Act, CRRSAA of 2021, and ARP Act of 2021. Recipients were also requested to share if and/or how it suspended, deviated from, or significantly updated or altered its transit program due to the public health emergency. The Fiscal Year (FY) 2022 process began with the Los Angeles Office transmitting, a recipient information request (RIR) to the RCTC on November 23, 2021, indicating a review would be conducted. While the RCTC prepared its response to the RIR, the Los Angeles Office and review team conducted a desk review and a scoping meeting on March 1, 2022. Necessary files retained by the Los Angeles Office were sent to the Reviewer electronically. Following the desk review and scoping meeting, the Reviewer and the recipient corresponded and exchanged information and documentation in preparation for the virtual site visit. As a result of this review, an agenda package indicating the issues that would be discussed, records to be reviewed, and interviews to be conducted was then sent to the RCTC on June 13, 2022. The virtual site visit occurred June 22-28, 2022. The virtual site visit portion of the review began with an entrance conference, at which the purpose of the Triennial Review and the review process were discussed. The Reviewer conducted additional interviews and reviewed documentation to evidence the RCTC's compliance with FTA requirements. 2022 Triennial Review - Riverside County Transportation Commission 3 I P a g e 384 Upon completion of the review, the FTA and the Reviewer provided a summary of findings to the RCTC at an exit conference. Section VI of this report lists the individuals participating in the review. 3. Metrics The metrics used to evaluate whether a recipient is meeting the requirements for each of the areas reviewed are: • Not Deficient: An area is considered not deficient if, during the review, nothing came to light that would indicate the requirements within the area reviewed were not met. • Deficient: An area is considered deficient if any of the requirements within the area reviewed were not met. • Not Applicable: An area can be deemed not applicable if, after an initial assessment, the recipient does not conduct activities for which the requirements of the respective area would be applicable. 2022 Triennial Review - Riverside County Transportation Commission Wage 385 III. Recipient Description 1. Organization and Services State of California law created the Riverside County Transportation Commission (Commission or RCTC) in 1976 to oversee the funding and coordination of all public transportation services within Riverside County (County). The RCTC's mission is to assume a leadership role in improving mobility in the County. The governing body consists of all five supervisorial districts the County Board of Supervisors, one elected official from each of the County's 28 cities, and one non -voting member appointed by the Governor of California. RCTC is responsible for setting policies, establishing priorities, and coordinating activities among the County's various transit operators and local jurisdictions. The RCTC also programs, delivers projects, and oversees the allocation of federal, state, and local funds for highway, transit, rail, non -motorized travel (bicycle and pedestrian), and other transportation activities. The RCTC serves as the tax authority and implementation agency for the voter approved Measure A Transportation Improvement Program, which was established in 1989 and renewed in 2009. Additionally, the RCTC provides motorist aid services such as Freeway Service Patrol and call box service, which are designed to expedite traffic flow and safety. The RCTC is also legally responsible for allocation of the state Transportation Development Act funds, the major sources of funds for transit in the County. RCTC is also a member of the Southern California Regional Rail Authority (SCRRA), commonly known as "Metrolink"). In 1990, the California legislature required the RCTC and other transportation commissions of the counties of Los Angeles, Orange, Ventura, and San Bernardino to join together and jointly develop a plan for regional transit services within the multi -county region. The effort resulted in the formation in August 1991 SCRRA, a Joint Powers Agency (JPA). The SCRRA plans, designs, constructs, and administers the operation of the regional passenger rail lines servicing the counties of Los Angeles, Orange, San Bernardino, and Ventura. SCRRA operates the regional rail system Metrolink. RCTC owns and maintains nine rail stations in western Riverside County. The funding that is primarily received by FTA is used for capital projects such as station improvements. To help supplement the transit network and expand commuter transportation options, RCTC launched a new vanpool program called VanClub in May 2018. VanClub provides eligible vanpools with up to $400 monthly subsidy toward the cost of the vanpool lease, which includes vehicle maintenance, roadside assistance, and insurance. 2022 Triennial Review - Riverside County Transportation Commission 5 I P a g e 386 Award and Project Activity Below is a list of the RCTC's open awards at the time of the review. Federal Award Identification Number Award Amount Year Executed Award Name CA -2021-132 $950,000 2021 Application Name 2019 Riverside County Transportation Commission - Transit -Oriented Communities Strategic Plan D2020-TODP-004 CA -2020-274 $1,292,223 2020 RCTC FFY20 5307 CARES Act Grant - Operating & Capital Assistance CA -90-Z234 $17,895,032 2018 Commuter Rail Pax Upgrades 5307 CA -2020-261 $18,701,750 2020 Section 5337 2020 Commuter Rail State of Good Repair CA -95-X339 $20,000,000 2015 CMAQ Funds for PVL Operations CA -2021-131 $8,000,000 2021 2020 RCTC Rail Stations Capital Rehabilitation 5307 CA -54-0033 $11,631,985 2015 Commuter Rail State of Good Repair 5337 CA -05-0268 $12,341,791 2012 Commuter Rail 5 Year Rehab 5309 CA -2017-121 $16,816,916 2017 5337 Rail State of Good Repair 2017 CA -05-0283 $2,281,747 2015 Commuter Rail Rehab Final 5309 CA -2017-112 $26,256,682 2021 5307 Rail Passenger Upgrades 2017 The RCTC received supplemental funds for operating assistance in awards numbered CA -2020- 274 and CA -2020-231. This is not the RCTC's first time receiving operating assistance from the FTA. Projects Completed In the past few years, the RCTC completed the following noteworthy project: • Rail — Since the last review, the Riverside Layover Facility, La Sierra parking lot expansion, and a passenger shelter project were completed utilizing the grants from the Commuter Rail Passenger Upgrades and State of Good Repair. Ongoing Projects The RCTC is currently implementing the following noteworthy projects: • Vanpool - The vanpool program began to utilize federal funding (specifically CARES funds) beginning 1/20/20. Since that time, the program has struggled with maintaining the prior service and ridership levels, due to the COVID-19 pandemic. At the pandemic 2022 Triennial Review - Riverside County Transportation Commission 6 1 P a g e 387 onset, routes were reduced from 80 to 30, and the program has remained steady ever since. At the end of FY 1920 the vanpool program had 32 active routes. • Rail - On -going capital projects under the grants for Commuter Rail Passenger Upgrades, State of Good Repair, and CARES Act State of Good Repair funds include the Riverside Downtown - Track and Platform Project, Transit Oriented Communities Strategic Plan study for rail stations, the Moreno Valley/March Field — Track and Platform Project, and station capital rehabilitation projects. Future Projects The RCTC plans to pursue the following noteworthy projects in the next three to five years: • Vanpool - There are no capital projects planned during this period for the vanpool program. RCTC will continue to market the program, procure subcontractors to operate the program, with the goal to expand the program to 126 routes by the end of FY 25/26 • Rail - Future projects include a South Perris Station Track Expansion and Layover Project and parking expansion projects as needed. 2022 Triennial Review - Riverside County Transportation Commission 7 I P a g e 388 IV. Results of the Review 1. Legal Basic Requirement: The recipient must promptly notify the FTA of legal matters and additionally notify the U.S. Department of Transportation (US DOT) Office of Inspector General (OIG) of any instances relating to false claims under the False Claims Act or fraud. Recipients must comply with restrictions on lobbying requirements. Finding: During this Triennial Review of RCTC, no deficiencies were found with the FTA requirements for Legal. 2. Financial Management and Capacity Basic Requirement: The recipient must have financial policies and procedures; an organizational structure that defines, assigns and delegates fiduciary authority; and financial management systems in place to manage, match, and charge only allowable costs to the award. The recipient must conduct required Single Audits, as required by 2 CFR part 200, and provide financial oversight of subrecipients. Finding: During this Triennial Review of RCTC, no deficiencies were found with the FTA requirements for Financial Management and Capacity. 3. Technical Capacity - Award Management Basic Requirement: The recipient must report progress of projects in awards to the Federal Transit Administration (FTA) and close awards timely. Finding: During this Triennial Review of RCTC, no deficiencies were found with the FTA requirements for Technical Capacity - Award Management. 4. Technical Capacity - Program Management & Subrecipient Oversight Basic Requirement: States must document and follow a public involvement process for the development of the long-range statewide transportation plan and State Transportation Improvement Program (STIP). Designated recipients of Sections 5310, 5311, and 5339 funds must develop and submit a State Management/ Program Management Plan to the FTA for approval. Recipients must enter into an agreement with each subrecipient, obtain required certifications from subrecipients, report in the Federal Funding Accountability and Transparency Act Subaward Reporting System (FSRS) on subawards, and ensure subrecipients comply with the terms of the award. Finding: During this Triennial Review of RCTC, one (1) deficiency was found with the FTA requirements for Technical Capacity - Program Management & Subrecipient Oversight. 2022 Triennial Review - Riverside County Transportation Commission 8 1 P a g e 389 Deficiency Description: Written agreement missing required elements (TC-PgM3-2) RCTC's agreement with Southern California Regional Rail Authority (SCRRA) was reviewed and discussed with RCTC staff during the site visit. The agreement does not include the information required by 2 CFR part 200 about the federal award that funds the agreement. Staff explained that the agreement must be in place by July 1 each year in order for RCTC to reimburse SCRRA for its operation of commuter rail service. Details of the FTA award that will be used to support that service are typically not known until later in the year. Following the review, RCTC revised the subrecipient agreement to include Exhibit D: Subrecipient Awards Overview with all required elements. RCTC confirmed this will be attached to the SCRRA Subrecipient Agreement. 2 CFR 200.332 Requirements for pass -through entities All pass -through entities must: (a) Ensure that every subaward is clearly identified to the subrecipient as a subaward and includes the following information at the time of the subaward and if any of these data elements change, include the changes in subsequent subaward modification. When some of this information is not available, the pass -through entity must provide the best information available to describe the Federal award and subaward. Required information includes: (1) Federal award identification. (1) Subrecipient name (which must match the name associated with its unique entity identifier); (ii) Subrecipient's unique entity identifier; (iii) Federal Award Identification Number (FAIN); (iv) Federal Award Date (see the definition of Federal award date in §200.1 of this part) of award to the recipient by the Federal agency; (v) Subaward Period of Performance Start and End Date; (vi) Subaward Budget Period Start and End Date; (vii) Amount of Federal Funds Obligated by this action by the pass -through entity to the subrecipient; (viii) Total Amount of Federal Funds Obligated to the subrecipient by the pass -through entity including the current financial obligation; (ix) Total Amount of the Federal Award committed to the subrecipient by the pass -through entity; (x) Federal award project description, as required to be responsive to the Federal Funding Accountability and Transparency Act (FFATA); 2022 Triennial Review - Riverside County Transportation Commission 9 I P a g e 390 (xi) Name of Federal awarding agency, pass -through entity, and contact information for awarding official of the Pass -through entity; (xii) Assistance Listings number and Title; the pass -through entity must identify the dollar amount made available under each Federal award and the Assistance Listings Number at time of disbursement; (xiii) Identification of whether the award is R&D; and (xiv) Indirect cost rate for the Federal award (including if the de minimis rate is charged) per §200.414. (2) All requirements imposed by the pass -through entity on the subrecipient so that the Federal award is used in accordance with Federal statutes, regulations and the terms and conditions of the Federal award; (3) Any additional requirements that the pass -through entity imposes on the subrecipient in order for the pass -through entity to meet its own responsibility to the Federal awarding agency including identification of any required financial and performance reports; (4)(i) An approved federally recognized indirect cost rate negotiated between the subrecipient and the Federal Government. If no approved rate exists, the pass -through entity must determine the appropriate rate in collaboration with the subrecipient, which is either: (A) The negotiated indirect cost rate between the pass -through entity and the subrecipient; which can be based on a prior negotiated rate between a different PTE and the same subrecipient. If basing the rate on a previously negotiated rate, the pass -through entity is not required to collect information just ing this rate, but may elect to do so; (B) The de minimis indirect cost rate. (ii) The pass -through entity must not require use of a de minimis indirect cost rate if the subrecipient has a Federally approved rate. Subrecipients can elect to use the cost allocation method to account for indirect costs in accordance with §200.405(d). (5) A requirement that the subrecipient permit the pass -through entity and auditors to have access to the subrecipient's records and financial statements as necessary for the pass -through entity to meet the requirements of this part; and (6) Appropriate terms and conditions concerning closeout of the subaward. FTA Frequently Asked Questions from FTA Grantees Regarding Coronavirus Disease 2019 (COVID-19) ER] 1: Does a State DOT need to amend all active operating grants in TrAMS and grant agreements with sub -recipients? 2022 Triennial Review - Riverside County Transportation Commission 10 1 P a g e 391 A: Yes, for grants in which the State DOT and/or its subrecipients will use the expanded flexibilities. Active grant award recipients, under programs Section 5307 and 5311, that would like the increased flexibility offered will need to complete an award amendment or submit a new application. Award recipients will need to realign funds provided to sub -recipients specifically for COVID-19 Response Activities to the "ER" Account Classification Code (ACC), which was set up by the recipient for the increased flexibility. Appendix II to Part 200 —Contract Provisions for Non -Federal Entity Contracts Under Federal Awards Please see Procurement review area for the required clauses. Corrective Action(s) and Schedule: By September 29, 2022, RCTC must submit to the FTA Los Angeles office documentation that the amended award document has been used in the next project application cycle. 5. Technical Capacity - Project Management Basic Requirement: The recipient must be able to implement the Federal Transit Administration (FTA)-funded projects in accordance with the award application, the FTA Master Agreement, and applicable laws and regulations using sound management practices. Finding: During this Triennial Review of RCTC, no deficiencies were found with the FTA requirements for Technical Capacity - Project Management. 6. Transit Asset Management Basic Requirement: Recipients must comply with 49 CFR part 625 to ensure public transportation providers develop and implement transit asset management (TAM) plans. Finding: During this Triennial Review of RCTC, one (1) deficiency was found with the FTA requirements for Transit Asset Management. Deficiency Description: Accountable executive responsibilities not implemented (TAM3-2) RCTC's Executive Director is the TAM accountable executive. The TAM plan is not signed, the Executive Director's job description does not specifically refer to TAM development or implementation, and no documentation was provided of accountable executive activities such as annual sign -off on the plan or performance targets. Following the review, RCTC determined that moving forward, a signature page would be attached to TAM Plan annual updates. The signature page was submitted August 15, 2022. 2022 Triennial Review - Riverside County Transportation Commission 11 1 P a g e 392 49 CFR 625.5 Definitions Accountable Executive means a single, identifiable person who has ultimate responsibility for carrying out the safety management system of a public transportation agency; responsibility for carrying out transit asset management practices; and control or direction over the human and capital resources needed to develop and maintain both the agency's public transportation agency safety plan, in accordance with 49 U.S.C. 5329(d), and the agency's transit asset management plan in accordance with 49 U.S.C. 5326. 49 CFR 625.25 Transit Asset Management Plan Requirements (a) General. (3) A provider's Accountable Executive is ultimately responsible for ensuring that a TAM plan is developed and carried out in accordance with this part. Corrective Action(s) and Schedule: By September 29, 2022, RCTC must submit to the FTA Los Angeles Office evidence that the responsibilities of the accountable executive have been implemented. Following the review, RCTC submitted a signature page signed by the accountable executive and determined this would be attached to annual updates moving forward. This deficiency is closed. 7. Satisfactory Continuing Control Basic Requirement: The recipient must ensure that Federal Transit Administration (FTA)- funded property will remain available to be used for its originally authorized purpose throughout its useful life until disposition. Finding: During this Triennial Review of RCTC, two (2) deficiencies were found with the FTA requirements for Satisfactory and Continuing Control. Deficiency Description #1: Property records missing information (SCC1-1) RCTC owns several federally funded rail stations. Inventory information on those stations, submitted during the site visit, indicated that some of those stations were purchased or constructed with FTA awards after 12/26/14. RCTC provided an inventory with all required elements for the La Sierra station. This inventory did not include the additional stations and improvements purchased and constructed since 12/26/2014. The file titled 7b4_Master Fixed Asset Report does not document required elements consistently. The table does not consistently list the applicable federal award identification number (FAIN), so it is not possible to determine whether the real property was purchased on an award made on or after 12/26/2014. The notes section lists some required elements, but this is not consistently captured in this format. 2022 Triennial Review - Riverside County Transportation Commission 12 1 P a g e 393 FTA Circular 5010.1E Ch. IV, Section 2. Real Property, (i) Property Management (2)-(6)(a)3a-e (2) Use. Real property must be used for the originally authorized purpose as long as needed for that purpose. Recipients must not dispose of modify the use of or encumber its title or other interests in the Federally assisted site and facilities without prior FTA written approval. Recipients are required to use Federally assisted property continuously and appropriately throughout the useful life of the property. Recipients may be required to return the entire amount of Federal assistance spent on the Award or Federally assisted property thereunder if, during the useful life, the recipient has unreasonably delayed or failed to use the Federally assisted property for its originally intended purpose. Recipients are also required to notify FTA before property is removed from the service originally intended at the time of approval of the Award and if property is put to additional or substitute uses. (3) Maintenance. Real property must be appropriately maintained. A description of the improvements, expansions, retrofits, and maintenance of real property must be properly documented in the facility inventory along with parcel address or location, useful life, date placed in service, original acquisition cost and Federal percentage of cost in order to accurately determine an equitable valuation of Federal interest at the time of early disposition of the asset. (5) Reporting on Real Property. Recipients must maintain adequate records on the status of real property in which the Federal Government retains an interest. FTA requires that recipients maintain a real property inventory on file for review upon request by FTA to satisfy the requirements of 2 CFR 5C 200.329, which requires recipients to submit reports on an annual basis for real property in which the Federal Government retains an interest. In instances where the Federal interest in the real property will extend for a period of 15 years or more, a recipient may request FTA's permission to report at multi year frequencies, not to exceed a five-year reporting period. A Real Property Inventory must include: property location/physical address; use and condition of the property; summary of conditions on the title; brief description of improvements, expansions, and retrofits; corresponding useful life for the assets; date placed in service; original acquisition cost; sources of funding; Federal and non -Federal participation ratios; Federal award identification number; appraised value and date; anticipated disposition or action proposed; date of disposal; and sale price of the property. If the property is excess, identi the reasons for having excess property, such as purchase to a logical boundary. This inventory is necessary in order to accurately account for assets and determine an equitable valuation of Federal interest retained in the property. The Excess Real Property Inventory and Utilization Plan requirement applies only to Grants or Cooperative Agreements awarded before December 26, 2014. The Real Property Reporting requirement (Real Property Inventory) replaces the Excess Real Property Inventory and Utilization Plan requirement for Grants and Cooperative Agreements (and funding increments to existing Grants and Cooperative Agreements) awarded on or after December 26, 2014. Corrective Action(s) and Schedule: By September 29, 2022, RCTC must submit to the FTA Los Angeles Office an updated real property report with all required information for all applicable properties. 2022 Triennial Review - Riverside County Transportation Commission 13 1 P a g e 394 Deficiency Description #2: Property reports not submitted as required (SCC1-3) No evidence of annual property reports was found in TrAMS, and RCTC staff indicated that such reports have not been filed. 2 CFR 200.330 Reporting on real property The Federal awarding agency or pass -through entity must require a non -Federal entity to submit reports at least annually on the status of real property in which the Federal government retains an interest, unless the Federal interest in the real property extends 15 years or longer. In those instances where the Federal interest attached is for a period of 15 years or more, the Federal awarding agency or pass -through entity, at its option, may require the non -Federal entity to report at various multi year frequencies (e.g., every two years or every three years, not to exceed a five-year reporting period; or a Federal awarding agency or pass -through entity may require annual reporting for the first three years of a Federal award and thereafter require reporting every five years). Corrective Action(s) and Schedule: By December 31, 2022, RCTC must submit to the FTA Los Angeles Office: 1) A real property report in TrAMS and 2) Procedures for preparing and submitting such reports timely. 8. Maintenance Basic Requirement: Recipients must keep federally funded vehicles, equipment, and facilities in good operating condition. Recipients must keep Americans with Disabilities Act (ADA) accessibility features on all vehicles, equipment, and facilities in good operating order. Finding: During this Triennial Review of RCTC, no deficiencies were found with the FTA requirements for Maintenance. 9. Procurement Basic Requirement: The non -Federal entity must use its own documented procurement procedures which reflect applicable State, local, and tribal laws and regulations, and conform to applicable Federal law and the standards identified in 2 CFR Part 200. State recipients can use the state's overall policies and procedures. When applied to Federal procurements, those policies and procedures must still be compliant with all Federal requirements as applied to non - state recipients. The flexibility afforded by 2 CFR Part 200 should not be misconstrued as absolving a state from Federal requirements. For example, the FTA does not require each State DOT to have policies and procedures separate from the state education department. Finding: During this Triennial Review of RCTC, one (1) deficiency was found with the FTA requirements for Procurement. 2022 Triennial Review - Riverside County Transportation Commission 14 1 P a g e 395 Deficiencies in review of procurement files: During the virtual site visit to the RCTC, five (5) procurement files were reviewed, including two (2) invitation for bid (IFB) for construction, one (1) request for qualifications (RFQ) for engineering services, and two (2) request for proposals (RFP) for on -call maintenance and strategic planning services. The table below provides more details about these procurements. Procurement # Goods/Services Procured iDate Dollar Value Type Method 1 Construction 11/8/2017 $4,095,100 Construction — La Sierra Parking Lot New Start or Small Start Awarded by Contractors or Subrecipients Change Order DBE Goal Protest Deficiencies IFB No No Yes No No P11-1 2 Engineering Services 1/10/2018 $8,200,000 On -Call Design Engineering/ Environmental RFQ No No Ne No No P11-1 3 Construction 6/12/2019 $4,379,858 Construction — DT Riverside Layover IFB 4 Maintenance Services 6/10/2020 $13,282,500 On -Call Maintenance — Station No No Deficiency Description: Missing FTA Clauses (P11-1) Ne No No P11-1 RFP No No Ne No No P11-1 5 Strategic Plan 3/18/2021 $92,674 Transit Oriented Communities Strategic Plan RFP No No Ne No No P11-1 None of the selected procurement files included the required Notice to FTA and DOT Inspector General and the Telecommunications clause was not included with the Strategic Plan procurement (numbered 5). Following the review, RCTC submitted revised Section 23 and 24 of the procurement manual, including the revised clauses. These clauses were included in the On -Call Multimodal Services Consulting RFP. Appendix II to Part 200 —Contract Provisions for Non -Federal Entity Contracts Under Federal Awards In addition to other provisions required by the Federal agency or non -Federal entity, all contracts made by the non -Federal entity under the Federal award must contain provisions covering the following, as applicable. (A) Contracts for more than the simplified acquisition threshold currently set at $150, 000, which is the inflation adjusted amount determined by the Civilian Agency Acquisition Council and the Defense Acquisition Regulations Council (Councils) as authorized by 41 U.S.C. 1908, must address administrative, contractual, or legal remedies in instances where contractors violate or breach contract terms, and provide for such sanctions and penalties as appropriate. 2022 Triennial Review - Riverside County Transportation Commission 15 1 P a g e 396 (B) All contracts in excess of $10,000 must address termination for cause and for convenience by the non -Federal entity including the manner by which it will be affected and the basis for settlement. (C) Equal Employment Opportunity. Except as otherwise provided under 41 CFR Part 60, all contracts that meet the definition of "federally assisted construction contract" in 41 CFR Part 60-1.3 must include the equal opportunity clause provided under 41 CFR 60-1.4(b), in accordance with Executive Order 11246, "Equal Employment Opportunity" (30 FR 12319, 12935, 3 CFR Part, 1964-1965 Comp., p. 339), as amended by Executive Order 11375, "Amending Executive Order 11246 Relating to Equal Employment Opportunity, " and implementing regulations at 41 CFR part 60, "Office of Federal Contract Compliance Programs, Equal Employment Opportunity, Department of Labor." (D) Davis -Bacon Act, as amended (40 U.S. C. 3141-3148). When required by Federal program legislation, all prime construction contracts in excess of $2,000 awarded by non -Federal entities must include a provision for compliance with the Davis -Bacon Act (40 U.S.C. 3141-3144, and 3146-3148) as supplemented by Department of Labor regulations (29 CFR Part 5, "Labor Standards Provisions Applicable to Contracts Covering Federally Financed and Assisted Construction'). In accordance with the statute, contractors must be required to pay wages to laborers and mechanics at a rate not less than the prevailing wages specified in a wage determination made by the Secretary of Labor. In addition, contractors must be required to pay wages not less than once a week. The non -Federal entity must place a copy of the current prevailing wage determination issued by the Department of Labor in each solicitation. The decision to award a contract or subcontract must be conditioned upon the acceptance of the wage determination. The non -Federal entity must report all suspected or reported violations to the Federal awarding agency. The contracts must also include a provision for compliance with the Copeland "Anti -Kickback" Act (40 U.S.C. 3145), as supplemented by Department of Labor regulations (29 CFR Part 3, "Contractors and Subcontractors on Public Building or Public Work Financed in Whole or in Part by Loans or Grants from the United States'). The Act provides that each contractor or subrecipient must be prohibited from inducing, by any means, any person employed in the construction, completion, or repair of public work, to give up any part of the compensation to which he or she is otherwise entitled. The non -Federal entity must report all suspected or reported violations to the Federal awarding agency. (E) Contract Work Hours and Safety Standards Act (40 U.S.C. 3701-3708). Where applicable, all contracts awarded by the non -Federal entity in excess of $100,000 that involve the employment of mechanics or laborers must include a provision for compliance with 40 U.S.C. 3702 and 3704, as supplemented by Department of Labor regulations (29 CFR Part 5). Under 40 U.S. C. 3702 of the Act, each contractor must be required to compute the wages of every mechanic and laborer on the basis of a standard work week of 40 hours. Work in excess of the standard work week is permissible provided that the worker is compensated at a rate of not less than one and a half times the basic rate of pay for all hours worked in excess of 40 hours in the work week. The requirements of 40 U.S.C. 3704 are applicable to construction work and provide that no laborer or mechanic must be required to work in surroundings or under working conditions which are unsanitary, hazardous or dangerous. These requirements do not apply to the purchases of supplies or materials or articles ordinarily available on the open market, or contracts for transportation or transmission of intelligence. 2022 Triennial Review - Riverside County Transportation Commission 16 1 P a g e 397 (F) Rights to Inventions Made Under a Contract or Agreement. If the Federal award meets the definition of `funding agreement" under 37 CFR §401.2 (a) and the recipient or subrecipient wishes to enter into a contract with a small business farm or nonprofit organization regarding the substitution of parties, assignment or performance of experimental, developmental, or research work under that "funding agreement, " the recipient or subrecipient must comply with the requirements of 37 CFR Part 401, "Rights to Inventions Made by Nonprofit Organizations and Small Business Firms Under Government Grants, Contracts and Cooperative Agreements," and any implementing regulations issued by the awarding agency. (G) Clean Air Act (42 U.S.C. 7401-7671q.) and the Federal Water Pollution Control Act (33 U.S.C. 1251-1387), as amended —Contracts and subgrants of amounts in excess of $150, 000 must contain a provision that requires the non -Federal award to agree to comply with all applicable standards, orders or regulations issued pursuant to the Clean Air Act (42 U.S.C. 7401-7671q) and the Federal Water Pollution Control Act as amended (33 U.S.C. 1251-1387). Violations must be reported to the Federal awarding agency and the Regional Office of the Environmental Protection Agency (EPA). (H) Debarment and Suspension (Executive Orders 12549 and 12689)—A contract award (see 2 CFR 180.220) must not be made to parties listed on the government wide exclusions in the System for Award Management (SAM), in accordance with the OMB guidelines at 2 CFR 180 that implement Executive Orders 12549 (3 CFR part 1986 Comp., p. 189) and 12689 (3 CFR part 1989 Comp., p. 235), "Debarment and Suspension." SAM Exclusions contains the names of parties debarred, suspended, or otherwise excluded by agencies, as well as parties declared ineligible under statutory or regulatory authority other than Executive Order 12549. (I) Byrd Anti -Lobbying Amendment (31 U.S.C. 1352) —Contractors that apply or bid for an award exceeding $100, 000 must file the required certification. Each tier certifies to the tier above that it will not and has not used Federal appropriated funds to pay any person or organization for influencing or attempting to influence an officer or employee of any agency, a member of Congress, officer or employee of Congress, or an employee of a member of Congress in connection with obtaining any Federal contract, grant or any other award covered by 31 U.S.C. 1352. Each tier must also disclose any lobbying with non -Federal funds that takes place in connection with obtaining any Federal award. Such disclosures are forwarded from tier to tier up to the non -Federal award. (J) See §200.322 Procurement of recovered materials —A non -Federal entity that is a state agency or agency of a political subdivision of a state and its contractors must comply with section 6002 of the Solid Waste Disposal Act, as amended by the Resource Conservation and Recovery Act. The requirements of Section 6002 include procuring only items designated in guidelines of the Environmental Protection Agency (EPA) at 40 CFR part 247 that contain the highest percentage of recovered materials practicable, consistent with maintaining a satisfactory level of competition, where the purchase price of the item exceeds $10,000 or the value of the quantity acquired by the preceding fiscal year exceeded $10, 000; procuring solid waste management services in a manner that maximizes energy and resource recovery; and establishing an affirmative procurement program for procurement of recovered materials identified in the EPA guidelines. 2022 Triennial Review - Riverside County Transportation Commission 17 1 P a g e 398 FTA Master Agreement (28), Section 16. d. Required Clauses in Third Party Contracts. In addition to other applicable provisions of federal law, regulations, requirements, and guidance, all third party contracts made by the Recipient under the Federal award must contain provisions covering the following, as applicable: (1) Simplified Acquisition Threshold. Contracts for more than the simplified acquisition threshold, which is the inflation adjusted amount determined by the Civilian Agency Acquisition Council and the Defense Acquisition Regulations Council (Councils) as authorized by 41 U.S.C. § 1908, or otherwise set by law, must address administrative, contractual, or legal remedies in instances where contractors violate or breach contract terms, and provide for such sanctions and penalties as appropriate. (Note that the simplified acquisition threshold determines the procurement procedures that must be employed pursuant to 2 C.F.R. §§ 200.317-200.327. The simplified acquisition threshold does not exempt a procurement from other eligibility or processes requirements that may apply. For example, Buy America's eligibility and process requirements apply to any procurement in excess of $150,000. 49 U.S.C. § 53230)(13).) (2) Termination. All contracts in excess of $10,000 must address termination for cause and for convenience by the non-federal entity including the manner by which it will be affected and the basis for settlement. (3) Equal Employment Opportunity. Except as otherwise provided under 41 CFR Part 60, all contracts that meet the definition of "federally assisted construction contract" in 41 CFR Part 60-1.3 must include the equal opportunity clause provided under 41 C.F.R. § 60-1.4(b), in accordance with Executive Order No. 11246, "Equal Employment Opportunity, " 42 U.S. C. 2000e note (30 Fed. Reg. 12319, 12935, 3 C.F.R. 1964-1965 Comp., p. 339), as amended by Executive Order No. 11375, "Amending Executive Order No. 11246 Relating to Equal Employment Opportunity, " (32 Fed. Reg. 14,303) and implementing regulations at 41 CFR Part 60, "Office of Federal Contract Compliance Programs, Equal Employment Opportunity, Department of Labor." (4) Davis -Bacon Act, as amended (40 U.S.C. §§ 3141— 3148). When required by federal program legislation, all prime construction contracts in excess of $2,000 awarded by non- federal entities must include a provision for compliance with the Davis -Bacon Act (40 U.S.C. §§ 3141 — 3144, and 3146 — 3148) as supplemented by Department of Labor regulations (29 CFR Part 5, "Labor Standards Provisions Applicable to Contracts Covering Federally Financed and Assisted Construction'). In accordance with the statute, contractors must be required to pay wages to laborers and mechanics at a rate not less than the prevailing wages specified in a wage determination made by the Secretary of Labor. In addition, contractors must be required to pay wages not less than once a week. The non-federal entity must place a copy of the current prevailing wage determination issued by the Department of Labor in each solicitation. The decision to award a contract or subcontract must be conditioned upon the acceptance of the wage determination. The non-federal entity must report all suspected or reported violations to the federal awarding agency. The contracts must also include a provision for compliance with the Copeland "Anti -Kickback" Act (40 U.S.C. § 3145), as supplemented by Department of Labor regulations (29 CFR Part 3, "Contractors and Subcontractors on Public Building or Public Work Financed in Whole or in Part by Loans or Grants from the United States'). The Act 2022 Triennial Review - Riverside County Transportation Commission 18 1 P a g e 399 provides that each contractor or subrecipient must be prohibited from inducing, by any means, any person employed in the construction, completion, or repair of a public work, to give up any part of the compensation to which he or she is otherwise entitled. The non-federal entity must report all suspected or reported violations to the federal awarding agency. (5) Contract Work Hours and Safety Standards Act (40 U.S.C. §§ 3701- 3708). Where applicable, all contracts awarded by the non-federal entity in excess of $100,000 that involve the employment of mechanics or laborers must include a provision for compliance with 40 U.S.C. §§ 3702 and 3704, as supplemented by Department of Labor regulations (29 CFR Part 5). Under 40 U.S.C. § 3702 of the Act, each contractor must be required to compute the wages of every mechanic and laborer based on a standard work week of 40 hours. Work in excess of the standard work week is permissible provided that the worker is compensated at a rate of not less than one and a half times the basic rate of pay for all hours worked in excess of 40 hours in the work week. The requirements of 40 U.S.C. § 3704 are applicable to construction work and provide that no laborer or mechanic must be required to work in surroundings or under working conditions which are unsanitary, hazardous or dangerous. These requirements do not apply to the purchases of supplies or materials or articles ordinarily available on the open market, or contracts for transportation or transmission of intelligence. (6) Rights to Inventions Made Under a Contract or Agreement. If the federal award meets the definition of `funding agreement" under 37 C.F.R. § 401.2(a) and the recipient or subrecipient wishes to enter into a contract with a small business firm or nonprofit organization regarding the substitution of parties, assignment or performance of experimental, developmental, or research work under that `funding agreement, " the recipient or subrecipient must comply with the requirements of 37 CFR Part 401, "Rights to Inventions Made by Nonprofit Organizations and Small Business Firms Under Government Grants, Contracts and Cooperative Agreements," and any implementing regulations issued by the awarding agency. (7) Clean Air Act (42 U.S.C. §' 7401- 7671q.) and the Federal Water Pollution Control Act (33 U.S.C. §§ 1251-1388), as amended. Contracts and subgrants of amounts in excess of $150, 000 must contain a provision that requires the non-federal award to agree to comply with all applicable standards, orders or regulations issued pursuant to the Clean Air Act (42 U.S.C. §§ 7401- 7671q) and the Federal Water Pollution Control Act as amended (33 U.S.C. §§ 1251 - 1388). Violations must be reported to the Federal awarding agency and the Regional Office of the Environmental Protection Agency (EPA). (8) Debarment and Suspension (Executive Orders 12549 and 12689). A covered transaction (see 2 C.F.R. §§ 180.220 and 1200.220) must not be entered into with any party listed on the governmentwide exclusions in the System for Award Management (SAM), in accordance with the OMB guidelines at 2 C.F.R. 180 that implement Executive Orders 12549 (31 U.S.C. § 6101 note, 51 Fed. Reg. 6370,) and 12689 (31 U.S.C. § 6101 note, 54 Fed. Reg. 34131), "Debarment and Suspension. "SAM Exclusions contains the names of parties debarred, suspended, or otherwise excluded by agencies, as well as parties declared ineligible under statutory or regulatory authority other than Executive Order 12549. The Recipient agrees to include, and require each Third -Party Participant to include, a similar provision in each lower tier covered transaction, ensuring that each lower tier Third Party Participant: 2022 Triennial Review - Riverside County Transportation Commission 19 1 P a g e 400 (i) Complies with federal debarment and suspension requirements; and (it) Reviews the SAM at https://www.sam.gov, if necessary to comply with U.S. DOT regulations, 2 CFR Part 1200. (9) Restrictions on Lobbying (31 U.S.C. § 1352). Contractors that apply or bid for an award exceeding $100, 000 must file the certification required by 49 CFR Part 20. Each tier certifies to the tier above that it will not and has not used federal appropriated funds to pay any person or organization for influencing or attempting to influence an officer or employee of any agency, a member of Congress, officer or employee of Congress, or an employee of a member of Congress in connection with obtaining any federal contract, grant or any other award covered by 31 U.S.C. § 1352. Each tier must also disclose any lobbying with non-federal funds that takes place in connection with obtaining any Federal award. Such disclosures are forwarded from tier to tier up to the non-federal award. (10) Solid Wastes. A Recipient that is a state agency or agency of a political subdivision of a state and its contractors must comply with section 6002 of the Solid Waste Disposal Act, as amended by the Resource Conservation and Recovery Act. The requirements of Section 6002 include procuring only items designated in guidelines of the Environmental Protection Agency (EPA) at 40 CFR Part 247 that contain the highest percentage of recovered materials practicable, consistent with maintaining a satisfactory level of competition, where the purchase price of the item exceeds $10,000 or the value of the quantity acquired during the preceding fiscal year exceeded $10, 000; procuring solid waste management services in a manner that maximizes energy and resource recovery; and establishing an affirmative procurement program for procurement of recovered materials identified in the EPA guidelines. 200.216 Prohibition on certain telecommunications and video surveillance services or equipment. (a) Recipients and subrecipients are prohibited from obligating or expending loan or grant funds to: (1) Procure or obtain; (2) Extend or renew a contract to procure or obtain; or (3) Enter into a contract (or extend or renew a contract) to procure or obtain equipment, services, or systems that uses covered telecommunications equipment or services as a substantial or essential component of any system, or as critical technology as part of any system. As described in Public Law 115-232, section 889, covered telecommunications equipment is telecommunications equipment produced by Huawei Technologies Company or ZTE Corporation (or any subsidiary or affiliate of such entities). (i) For the purpose of public safety, security of government facilities, physical security surveillance of critical infrastructure, and other national security purposes, video surveillance and telecommunications equipment produced by Hytera Communications Corporation, Hangzhou Hikvision Digital Technology Company, or Dahua Technology Company (or any subsidiary or affiliate of such entities). 2022 Triennial Review - Riverside County Transportation Commission 20 1 P a g e 401 (ii) Telecommunications or video surveillance services provided by such entities or using such equipment. (iii) Telecommunications or video surveillance equipment or services produced or provided by an entity that the Secretary of Defense, in consultation with the Director of the National Intelligence or the Director of the Federal Bureau of Investigation, reasonably believes to be an entity owned or controlled by, or otherwise connected to, the government of a covered foreign country. (b) In implementing the prohibition under Public Law 115-232, section 889, subsection (I), paragraph (1), heads of executive agencies administering loan, grant, or subsidy programs shall prioritize available funding and technical support to assist affected businesses, institutions and organizations as is reasonably necessary for those affected entities to transition from covered communications equipment and services, to procure replacement equipment and services, and to ensure that communications service to users and customers is sustained. FTA Master Agreement (28) Section 39(b). Notification to FTA; Flow Down Requirement. If a current or prospective legal matter that may affect the Federal Government emerges, the Recipient must promptly notify the FTA Chief Counsel and FTA Regional Counsel for the Region in which the Recipient is located. The Recipient must include a similar notification requirement in its Third Party Agreements and must require each Third Party Participant to include an equivalent provision in its subagreements at every tier, for any agreement that is a "covered transaction" according to 2 C.F.R. §§ 180.220 and 1200.220. (1) The types of legal matters that require notification include, but are not limited to, a major dispute, breach, default, litigation, or naming the Federal Government as a party to litigation or a legal disagreement in any forum for any reason. (2) Matters that may affect the Federal Government include, but are not limited to, the Federal Government's interests in the Award, the accompanying Underlying Agreement, and any Amendments thereto, or the Federal Government's administration or enforcement offederal laws, regulations, and requirements. (3) Additional Notice to U.S. DOT Inspector General. The Recipient must promptly notify the U.S. DOT Inspector General in addition to the FTA Chief Counsel or Regional Counsel for the Region in which the Recipient is located, if the Recipient has knowledge of potential fraud, waste, or abuse occurring on a Project receiving assistance from FTA. The notification provision applies if a person has or may have submitted a false claim under the False Claims Act, 31 U.S.C. § 3729, et seq., or has or may have committed a criminal or civil violation of law pertaining to such matters as fraud, conflict of interest, bid rigging, misappropriation or embezzlement, bribery, gratuity, or similar misconduct involving federal assistance. This responsibility occurs whether the Project is subject to this Agreement or another agreement between the Recipient and FTA, or an agreement involving a principal, officer, employee, agent, or Third Party Participant of the Recipient. It also applies to subcontractors at any tier. Knowledge, as used in this paragraph, includes, but is not limited to, knowledge of a criminal or 2022 Triennial Review - Riverside County Transportation Commission 21 1 P a g e 402 civil investigation by a Federal, state, or local law enforcement or other investigative agency, a criminal indictment or civil complaint, or probable cause that could support a criminal indictment, or any other credible information in the possession of the Recipient. In this paragraph, "promptly" means to refer information without delay and without change. This notification provision applies to all divisions of the Recipient, including divisions tasked with law enforcement or investigatory functions. Corrective Actions and Schedule: By September 29, 2022, RCTC must submit to the Los Angeles office: 1) Revised procurement procedures that address inclusion of all FTA-required third -party contract clauses through use of a clause checklist or other mechanism. 2) Documentation that the required clauses are included in RCTC contracts for the next procurement. Following the review, RCTC submitted revised procedures and included all applicable clauses with an RFP. This deficiency is closed. 10. Disadvantaged Business Enterprise (DBE) Basic Requirement: Recipients must comply with 49 CFR Part 26 to ensure nondiscrimination in the award and administration of US Department of Transportation (US DOT) -assisted contracts. Recipients also must create a level playing field on which DBEs can compete fairly for US DOT -assisted contracts. Finding: During this Triennial Review of RCTC, one (1) deficiency was found with the US DOT requirements for DBE. Deficiency Description: Insufficient documentation of written certifications of DBE monitoring (DBE 12-3) RCTC's monitoring of contractors for compliance with DBE requirements were discussed during the site visit. RCTC project managers and contracted project managers track work done by DBE subcontractors when reviewing invoices and certified payrolls monthly, and daily inspectors visit worksite to talk with DBE subcontractors and observe work being performed. The results of the monitoring are not certified in writing, however. Following the virtual site visit, RCTC submitted a process for making written certifications of DBE monitoring. 49 CFR 26.37(b) Your DBE program must also include a monitoring and enforcement mechanism to ensure that work committed to DBEs at contract award or subsequently (e.g., as the result of modification to the contract) is actually performed by the DBEs to which the work was committed. This mechanism must include a written certification that you have reviewed contracting records and monitored work sites in your state for this purpose. The monitoring to which this paragraph 2022 Triennial Review - Riverside County Transportation Commission 22 1 P a g e 403 refers may be conducted in conjunction with monitoring of contract performance for other purposes (e.g., close-out reviews for a contract). 49 CFR 26.29 (a) You must establish, as part of your DBE program, a contract clause to require prime contractors to pay subcontractors for satisfactory performance of their contracts no later than 30 days from receipt of each payment you make to the prime contractor. (b) You must ensure prompt and full payment of retainage from the prime contractor to the subcontractor within 30 days after the subcontractors work is satisfactorily completed. You must use one of the following methods to comply with this requirement: (d) Your DBE program must provide appropriate means to enforce the requirements of this section. These means may include appropriate penalties for failure to comply, the terms and conditions of which you set. Your program may also provide that any delay or postponement of payment among the parties may take place only for good cause, with your prior written approval. Corrective Actions and Schedule: By September 29, 2022, RCTC must submit to the FTA Regional Civil Rights Officer (RCRO) evidence that it has implemented a process for making written certifications of DBE monitoring. Following the virtual site visit, RCTC submitted a process for making written certifications of DBE monitoring. This deficiency is closed. 11. Title VI Basic Requirement: The recipient must ensure that no person shall, on the grounds of race, color, or national origin, be excluded from participating in, or be denied the benefits of, or be subject to discrimination under any program or activity receiving Federal financial assistance without regard to whether specific projects or services are federally funded. The recipient must ensure that all transit services and related benefits are distributed in an equitable manner. Finding: During this Triennial Review of RCTC, no deficiencies were found with the FTA requirements for Title VI. 12. Americans with Disabilities Act (ADA) — General Basic Requirement: Titles II and III of the Americans with Disabilities Act of 1990 provide that no entity shall discriminate against an individual with a disability in connection with the provision of transportation service. The law sets forth specific requirements for vehicle and facility accessibility and the provision of service, including complementary paratransit service. Finding: During this Triennial Review of RCTC, one (1) deficiency was found with the US DOT requirements for ADA — General. 2022 Triennial Review - Riverside County Transportation Commission 23 1 P a g e 404 Deficiency Description: Demand response service deficiency (ADA-GEN5-1) Program guidelines and a sample leasing vendor agreement for RCTC's vanpool program, VanClub, were reviewed and discussed during the site visit. Vanpool systems, which are operated by public entities, or in which public entities own or purchase or lease the vehicles, are subject to the requirements of Part 37 for demand responsive service for the general public operated by public entities. A vanpool system in this category is deemed to be providing equivalent service to individuals with disabilities if a vehicle that an individual with disabilities can use is made available to and used by a vanpool in which such an individual chooses to participate (49 CFR 37.31). Program guidelines indicate that if an accessible vehicle is needed, the leasing vendor will modify a vehicle which may result in an additional charge. RCTC, which subsidizes each vanpool at $400/month, will not be responsible for the extra charges. The vendor agreement includes a requirement to comply with federal requirements, including the ADA, but does not include a responsibility for providing accessible vehicles. During the site visit, RCTC's vanpool consultant explained that the participants in each vanpool have a range of vehicle types and options to choose from; monthly costs range from $800-$1,600 per month. If a group selects a standard vehicle, the vanpool consultant noted that the three leasing vendors have accessible vehicles available, which can be assigned to the group at no extra charge. If the group selects a non-standard vehicle, accessibility may require a retrofit, particularly to enable accessibility for a wheelchair user. In that case, the vanpool participants as a whole would bear the cost of modifying the vehicle. As it now operates, the program does not provide equivalent service for people with disabilities with regard to fares, or fees. There is a difference in the rates that would be charged to the participants in a vanpool that requires a retrofitted vehicle for accessibility as compared to participants in other vanpools that either do not need an accessible vehicle or can obtain an accessible standard vehicle at no extra charge. In addition, the participant who needs the accessible vehicle must convince the other participants in that vanpool to share the additional costs of the accessible vehicle or bear those costs alone. 49 CFR 37.5 Nondiscrimination (a) No entity shall discriminate against an individual with a disability in connection with the provision of transportation service. 49 CFR 37.23 Service under contract (a) When a public entity enters into a contractual or other arrangement (including, but not limited to, a grant, subgrant, or cooperative agreement) or relationship with a private entity to operate fixed route or demand responsive service, the public entity shall ensure that the private entity meets the requirements of this part that would apply to the public entity if the public entity itself provided the service. (b) A private entity which purchases or leases new, used, or remanufactured vehicles, or remanufactures vehicles, for use, or in contemplation of use, infixed route or demand responsive 2022 Triennial Review - Riverside County Transportation Commission 24 1 P a g e 405 service under contract or other arrangement or relationship with a public entity, shall acquire accessible vehicles in all situations in which the public entity itself would be required to do so by this part. (c) A public entity which enters into a contractual or other arrangement (including, but not limited to, a grant, subgrant, or cooperative agreement) or relationship with a private entity to provide fixed -route service shall ensure that the percentage of accessible vehicles operated by the public entity in its overall fixed route or demand responsive fleet is not diminished as a result. (d) A private entity that provides fixed route or demand responsive transportation service under contract or other arrangement (including, but not limited to, a grant, subgrant, or cooperative agreement) with another private entity shall be governed, for purposes of the transportation service involved, by the provisions of this part applicable to the other entity. Corrective Action(s) and Schedule: By September 29, 2022, RCTC must submit to the RCRO a plan to bring the VanClub program into compliance with equivalent service requirements and a timeline for implementation. 13. ADA — Complementary Paratransit Basic Requirement: Under 49 CFR 37.121(a), each public entity operating a fixed -route system shall provide paratransit or other special service to individuals with disabilities that is comparable to the level of service provided to individuals without disabilities who use the fixed - route system. "Comparability" is determined by 49 CFR 37.123-37.133. Requirements for complementary paratransit do not apply to commuter bus, commuter rail, or intercity rail systems. Finding: During this Triennial Review of ROTC, the US DOT requirements for ADA— Complementary Paratransit were found to be not applicable. 14. Equal Employment Opportunity Basic Requirement: The recipient must ensure that no person in the United States shall on the grounds of race, color, religion, national origin, sex, age or disability be excluded from participating in, or denied the benefits of, or be subject to discrimination in employment under any project, program or activity receiving Federal financial assistance under the Federal transit laws. Finding: During this Triennial Review of RCTC, the US DOT requirements for Equal Employment Opportunity were found to be not applicable. 2022 Triennial Review - Riverside County Transportation Commission 25 1 P a g e 406 15. School Bus Basic Requirement: Recipients are prohibited from providing school bus service in competition with private school bus operators unless the service qualifies and is approved by the Federal Transit Administration (FTA) Administrator under an allowable exemption. Federally funded equipment or facilities cannot be used to provide exclusive school bus service. Finding: During this Triennial Review of RCTC, no deficiencies were found with the FTA requirements for School Bus. 16. Charter Bus Basic Requirement: Recipients are prohibited from using the FTA-funded equipment and facilities to provide charter service that unfairly competes with private charter operators. Recipient may operate charter only when the service meets a specified exception defined in rule. Finding: During this Triennial Review ofRCTC, no deficiencies were found with the FTA requirements for Charter Bus. 17. Drug Free Workplace Act Basic Requirement: Recipients are required to maintain a drug free workplace for all award - related employees; report any convictions occurring in the workplace timely; and have an ongoing drug free awareness program. Finding: During this Triennial Review of RCTC, no deficiencies were found with the FTA requirements for Drug -Free Workplace Act. 18. Drug and Alcohol Program Basic Requirement: Recipients receiving Section 5307, 5309, 5311, or 5339 funds that have safety -sensitive employees must have a drug and alcohol testing program in place for such employees. Finding: During this Triennial Review of RCTC, no deficiencies were found with the FTA requirements for Drug and Alcohol Program. 2022 Triennial Review - Riverside County Transportation Commission 26 1 P a g e 407 19. Section 5307 Program Requirements Basic Requirement: The recipient must participate in the transportation planning process in accordance with Federal Transit Administration (FTA) requirements and the metropolitan and statewide planning regulations. Recipients shall develop, publish, afford an opportunity for a public hearing on, and submit for approval, a program of projects (POP). Recipients are expected to have a written, locally developed process for soliciting and considering public comment before raising a fare or carrying out a major transportation service reduction. For fixed -route service supported with Section 5307 assistance, fares charged seniors, persons with disabilities or an individual presenting a Medicare card during off peak hours will not be more than one half the peak hour fares. Finding: During this Triennial Review of RCTC, no deficiencies were found with the FTA requirements for Section 5307 Program Requirements. 20. Section 5310 Program Requirements Basic Requirement: Recipients must expend Section 5310 funds on eligible projects that meet the specific needs of seniors and individuals with disabilities. Projects selected for funding must be included in a locally developed, coordinated public transit -human services transportation plan. Recipients must approve all subrecipient leases of Section 5310 -funded vehicles. Leases of Section 5310 -funded vehicles must include required terms and conditions. Either the recipient or subrecipient must hold title to the leased vehicles. Finding: This section only applies to recipients that receive Section 5310 funds directly from the FTA; therefore, the related requirements are not applicable to the review of RCTC. 21. Section 5311 Program Requirements Basic Requirement: States must expend Section 5311 funds on eligible projects to support rural public transportation services and intercity bus transportation. Finding: This section only applies to recipients that receive Section 5311 funds directly from FTA; therefore, the related requirements are not applicable to the review of RCTC. 2022 Triennial Review - Riverside County Transportation Commission 27 1 P a g e 408 22. Public Transportation Agency Safety Plan (PTASP) Basic Requirement: Recipients must comply with the Public Transportation Agency Safety Plan (PTASP) regulation (49 CFR Part 673) to ensure public transportation providers develop and implement an Agency Safety Plan (ASP). Finding: During this Triennial Review of RCTC, the FTA requirements for Public Transportation Agency Safety Plan Requirements were found to be not applicable. 23. Cybersecurity Basic Requirement: Recipients that operate rail fixed guideway public transportation systems must certify compliance with the requirements for establishing a cybersecurity process under 49 U.S.C. § 5323(v), a new subsection added by the National Defense Authorization Act for Fiscal Year 2020, Pub. L. 116-92, § 7613 (Dec. 20, 2019). Finding: During this Triennial Review of RCTC, the FTA requirements for Cybersecurity Requirements were found to be not applicable. 2022 Triennial Review - Riverside County Transportation Commission 28 1 P a g e 409 V. Summary of Findings Review Area Finding Deficiency Code(s) Corrective Action(s) Response Due Date(s) Date Closed 1. Legal ND 2. Financial Management and Capacity ND 3. Technical Capacity — Award Management ND 4. Technical Capacity — Program Management and Subrecipient Oversight D TC-PgM3-2: Written agreement missing required elements RCTC must submit to the FTA Los Angeles office documentation that the amended award document has been used in the next project application cycle. September 29, 2022 5. Technical Capacity — Project Management ND 6. Transit Asset Management D TAM3-2: Accountable executive responsibilities not implemented RCTC must submit to the FTA Los Angeles Office evidence that the responsibilities of the accountable executive have been implemented. Following the review, RCTC submitted a signature page signed by the accountable executive and determined this would be attached to annual updates moving forward. This deficiency is closed. September 29, 2022 August 15, 2022 7. Satisfactory Continuing Control D SCC1-1: Property records missing information RCTC must submit to the FTA Los Angeles Office an updated real property report with all required information for all applicable properties. September 29, 2022 SCC1-3: Property reports not submitted as required RCTC must submit to the FTA Los Angeles Office: 1) A real property report in TrAMS and 2) Procedures for preparing and submitting such reports timely. December 31, 2022 8. Maintenance ND 9. Procurement D P11-1: Missing FTA Clauses RCTC must submit to the Los Angeles office: 1) Revised procurement procedures that address inclusion of all FTA-required third -party contract clauses through use of a clause checklist or other mechanism. 2) Documentation that the required clauses are included in RCTC contracts for the next procurement. Following the review, RCTC submitted revised procedures and included all applicable clauses with an RFP. This deficiency is closed. September 29, 2022 August 15, 2022 2022 Triennial Review - Riverside County Transportation Commission 410 291Page Review Area Finding Deficiency Code(s) Corrective Action(s) Response Due Date(s) Date Closed 10. Disadvantaged Business Enterprise D DBE 12-3: Insufficient documentation of written certifications of DBE monitoring RCTC must submit to the FTA Regional Civil Rights Officer (RCRO) evidence that it has implemented a process for making written September 29, 2022 July 20, 2022 certifications of DBE monitoring. Following the virtual site visit, RCTC submitted a process for making written certifications of DBE monitoring. This deficiency is closed. 11. Title VI ND 12. Americans with Disabilities Act (ADA) — General D ADA-GEN5-1: Demand response service deficiency RCTC must submit to the RCRO a plan to bring the VanClub program into compliance with equivalent service requirements and a timeline for implementation. September 29, 2022 13. ADA — Complementary Paratransit NA 14. Equal Employment Opportunity NA 15. School Bus ND 16. Charter Bus ND 17. Drug -Free Workplace ND 18. Drug and Alcohol Program ND 19. Section 5307 Program Requirements ND 20. Section 5310 Program Requirements NA 21. Section 5311 Program Requirements NA 22. Public Transportation Agency Safety Plan NA 23. Cybersecurity NA The metrics used to evaluate whether a recipient is meeting the requirements for each of the areas reviewed are: Deficient (D)/Not Deficient (ND)/Not Applicable (NA) 2022 Triennial Review - Riverside County Transportation Commission 30 1 P a g e 411 VI. Participants Name Title Phone Number E-mail Address Riverside County Transportation Commission (RCTC) Aaron Hake Regional Conservation Deputy Executive Director 951-787-7965 ahake@rctc.org Anne Mayer Executive Director 951-787-7907 amayer@rctc.org Beatris Megerdichian Management Analyst 951-787-7953 bmegerdichian@rctc.org Brian Cunanan Commuter/Motorist Assistance Manager 951-787-7943 bcunanan@rctc.org Bryce Johnston Sr. Capital Projects Manager 951-787-4016 bjohnston@rctc.org David Knudsen External Affairs Director 951-787-7938 dknudsen@rctc.org David Lewis Capital Projects Manager 951-787-7970 dlewis@rctc.org Eric DeHate Transit Manager 951-787-7989 edehate@rctc.org Erick Gutierrez Sr. Management Analyst (ROW) 951-955-8513 egutierrez@rctc.org Gabriela Montenegro Accounting Technician 951-787-7937 gmontenegro@rctc.org Gary Ratliff Facilities Administrator 951-787-7922 gratliff@rctc.org Hector Casillas Right of Way Manager 951-778-1097 hcasillas@rctc.org Jenny Chan Planning & Programming Manager 951-787-7924 jchan@rctc.org Jillian Guizado Planning & Programming Director 951-787-7923 jguizado@rctc.org John Standiford Deputy Executive Director 951-787-7969 jstandiford@retc.org Jose Mendoza Procurement Manager 951-787-7967 jmendoza@rctc.org Lorelle Moe- Luna Multimodal Services Director 951-787-7934 lmoe-luna@rctc.org 2022 Triennial Review - Riverside County Transportation Commission 412 311Page Matthew Wallace Deputy Director of Financial Administration 951-787-7908 mwallace@rctc.org Megan Kavand Sr. Financial Analyst 951787-4012 mkavand@rctc.org Michele Cisneros Deputy Director of Finance 951-787-7941 mcisnero@rctc.org Monica Morales Sr. Management Analyst (Transit) 951-787-7933 mmorales@rctc.org Pamela Velez- Renteria HR Administrator 951-787-7966 pvelezrenteria@rctc.org Sergio Vidal Chief Financial Officer 951-787-7926 svidal@rctc.org Sheldon Peterson Rail Manager 951-787-7928 speterson@rctc.org Veronica Padilla Human Resources Administrator 951-787-7974 vpadilla@rctc.org A. Haviva Shane Attorney - Best, Best, Krieger Attorneys at Law 951-288-1274 haviva.shane@bbklaw.com Michelle Kirkhoff MK Consulting michelle@mkconsulting.me Erik Galloway Bechtel Contractor 951-787-4015 egalloway@bec-riv.org FTA Ray Tellis Regional Administrator 415-734-9471 ray.tellis@dot.gov Karin Vosgueritchian Regional Civil Rights Officer, Region 9 415-734-9475 karin.vosgueritchian@dot.gov Nicholas Sun Program Manager, Office of Civil Rights 312-705-1267 nicholas.sun@dot.gov Charlene Lee Lorenzo Director, Los Angeles Office 213-202-3952 charlene.leelorenzo@dot.gov Mahilet Amare General Engineer 213-629-8610 mahilet.amare@dot.gov Luis Lopez General Engineer 213-629-8615 l.lopez@dot.gov Calyptus Consulting Group, Inc. Patricia Monahan Reviewer 617-291-8431 patti.monahan@monahanmobility.com Ellen Harvey Reviewer 617-577-0042 eharvey@calyptusgroup.com 2022 Triennial Review - Riverside County Transportation Commission 32 1 P a g e 413 VII. Appendices No appendices are included in this report. 2022 Triennial Review - Riverside County Transportation Commission 33 I P a g e 414 AGENDA ITEM 61 RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: December 14, 2022 TO: Riverside County Transportation Commission FROM: Audit Ad Hoc Committee Monica Morales, Senior Management Analyst Lorelle Moe -Luna, Multimodal Services Director THROUGH: Anne Mayer, Executive Director SUBJECT: Fiscal Years 2019-2021 Transportation Development Act Triennial Performance Audit Results for the Commission and Riverside County Transit Operators AUDIT AD HOC COMMITTEE AND STAFF RECOMMENDATION: This item is for the Commission to: 1) Receive and file the Fiscal Years 2018/2019 through FY 2020/2021 Transportation Development Act (TDA) triennial performance audit results for the Commission; and 2) Receive and file the FYs 2018/2019 through FY 2020/2021 TDA triennial performance audit results for the cities of Banning, Beaumont, Corona, and Riverside; Palo Verde Valley Transit Agency (PVVTA); Riverside Transit Agency (RTA); and SunLine Transit Agency (SunLine). BACKGROUND INFORMATION: In accordance with state law (California Public Utilities Code Section 99246), the Commission is required every three years to arrange for the performance audits of its activities as well as the activities of the transit operators to which it allocates TDA funds such as Local Transportation Funds (LTF) and State Transit Assistance (STA). At its December 2018 meeting, the Commission approved the selection of Michael Baker International Inc. to conduct the triennial performance audits for FYs 2015/16, 2016/17, 2017/18 including a one two-year option for the FYs 2018/19, 2019/20 and 2020/21. The scope of work included review of the seven public transit operators of the cities of Banning, Beaumont, Corona, and Riverside; PVVTA; RTA; SunLine; and the Commission. All audits have been completed and reports were transmitted to Caltrans before the April 2023 deadline, as required by TDA. Agenda Item 61 415 DISCUSSION: TDA Triennial Performance Audit of the Commission The auditors' charge in the Commission's triennial performance audit process was to: • Assess the Commission's compliance with the 14 TDA regulations as outlined in the Performance Audit Guidebook for Transit Operators and Regional Transportation Planning Entities; • Evaluate the efficiency and effectiveness of the Commission activities related to transportation planning, programming, regional coordination, grant management and oversight; and • Review the Commission's actions and progress on the implementation of prior triennial performance audit recommendations. The Commission's FY 2018/2019 — FY 2020/2021Triennial Audit (Attachment 1) concluded that the Commission is in compliance with all TDA regulations. The audit also found that of the five recommendations from the last triennial audit, two have been fully implemented and three will be carried over as they are partially implemented or pending implementation due to uncertainty of the economic conditions of the COVID-19 pandemic. There are no new recommendations or findings. A summary of the last triennial audit recommendations and status updates are provided in the table below. Prior Triennial Audit Recommendations Status 1. Clarify options for operator eligibility to use State Transit Assistance funds for operations. Complete 2. Review the purpose of the Short -Range Transit Plan updates. Complete 3. Commission revisit the TDA funding formula for Western Riverside County bus and commuter rail service, which currently distributes LTF and STA to bus and commuter rail with a split of 78 percent and 22 percent, respectively. Staff is currently monitoring the current economic conditions to determine the appropriate time to revisit the TDA formula for Western Riverside County bus and commuter rail service. 4. Commission enforce and monitor the transit operators' annual financial Transactions Report with separate reports for general public transit and demand response. One remaining operator, the City of Beaumont continues to submit one State Controller Report. Staff will continue to work with the operator to ensure that it is adhering to the proper financial reporting procedures. 5. Develop a comprehensive funding manual as a repository of all localized materials and processes related to the TDA. Project is underway and is anticipated to be completed in fall 2023. Agenda Item 61 416 TDA Triennial Performance Audits of the Public Transit Operators The TDA requires that an operator receiving TDA funds be audited for efficiency, effectiveness and economy of the operation. The major elements of performance audits of transit operators include review of compliance requirements, transit operator functions, and performance indicators. Generally, the transit operators' reports show that they are providing their services effectively and within the requirements of state law, with a few exceptions as noted in each operator report. The auditor is also required to follow-up on the prior performance review recommendations and assess progress made. The auditors outlined findings and made recommendations for each of the public transit operators. Highlights of recommendations for each transit operator are summarized as follows: City of Banning 1. Ensure timely completion and submittal of external TDA financial reports. 2. Consider commissioning the development of a Comprehensive Operational Analysis. 3. Consider the development of an advertising program and other local funds to support farebox recovery. 4. Maintain efforts to hire and retain a transit manager. City of Beaumont 1. Prepare and submit separate State Controller Transit Operators Financial Transactions reports for general public transit and specialized service. 2. Ensure timely completion and submittal of external TDA financial reports. 3. Improve monitoring and verification of vehicle fleet inventory. 4. Re-engage with riders and collect user input. City of Corona 1. Continue process of implementing ADA subscription services on Dial -A -Ride. 2. Include additional locally generated revenue in the farebox recovery. 3. Develop COVID-19 recovery plan and target core ridership including student riders. City of Riverside 1. Continue efforts toward implementing a strategic planning process. 2. Continue leveraging TransTrack reporting capabilities. 3. Enhance aspects of ongoing driver training. RTA 1. Conduct cost benefit for e -procurement alternatives. Agenda Item 61 417 SunLine 1. Resume update of the employee handbook that would address remote work and other changes to the work culture. 2. Continue efforts to coordinate opportunities for SunLine transit redesign with intelligent transportation infrastructure in the Coachella Valley. PVVTA 1. Collaborate with peer transit agencies regarding the implementation of zero -emission vehicles (ZEV) and ensure vehicle purchases are consistent with the ZEV rollout plan. 2. Pursue targeted marketing efforts and rebranding of the service. 3. Revisit fare structure in light of low farebox recovery from passenger revenue. Staff and the transit operators will be tracking the progress on implementing the above recommendations. As part of the annual SRTP updates, the operators describe the current implementation status of each of their recommendations from their most recent TDA triennial performance audits. Staff will also continue to work with the transit agencies to assist them in developing better administrative practices to ensure that any negative findings found in the recent audits are not repeated in the next triennial performance audit period. FISCAL IMPACT: There is no fiscal impact for this item. Attachments: Click on the following Link: https://www.rctc.org/wp- content/uploads/2022/11/61.A1-A8-Triennial-Performance-Audits.pdf 1) RCTC FYs 2019-2021 TDA Triennial Audit 2) City of Banning FYs 2019-2021 TDA Triennial Audit 3) City of Beaumont FYs 2019-2021 TDA Triennial Audit 4) City of Corona FYs 2019-2021 TDA Triennial Audit 5) City of Riverside FYs 2019-2021 TDA Triennial Audit 6) RTA FYs 2019-2021 TDA Triennial Audit 7) SunLine FYs 2019-2021 TDA Triennial Audit 8) PVVTA FYs 2019-2021 TDA Triennial Audit Agenda Item 61 418 ATTACHMENT 1 RCTC RIVERSIDE COUNTY TRANSPORTATION COMMISSION Triennial Performance Audit of Riverside County Transportation Commission September 2022 FY 2019-2021 Submitted to: Riverside County Transportation Commission Submitted by: Michael Baker INTERNATIONAL TABLE OF CONTENTS Section I 1 Introduction — Initial Review of RTPA Functions 1 Audit Methodology 8 Section II 9 RTPA Compliance Requirements 9 Section II I 18 Prior Triennial Performance Audit Recommendations 18 Section IV 23 Detailed Review of RTPA Functions 23 Administration, Management and Coordination 23 Transportation Planning and Programming 28 TDA Claimant Relationships and Oversight 39 Public Information and External Affairs 43 Grant Applications and Management 45 Section V 47 Statement of Facts 47 Triennial Audit Recommendations 49 Appendix A Informational Only, Example Unmet Transit Needs Prioritization and Ranking 51 Triennial Performance Audit i Michael Baker International RCTC Section 1 Introduction — Initial Review of RTPA Functions The Riverside County Transportation Commission (RCTC, Commission) retained Michael Baker International to conduct its Transportation Development Act (TDA) performance audit covering the most recent triennial period, fiscal years (FY) 2018-19 through 2020-21. RCTC is required by California Public Utilities Code (PUC) Sections 99246 to prepare and submit an audit of its performance on a triennial basis to the California Department of Transportation (Caltrans) in order to continue to receive TDA funding. This performance audit is intended to describe how well RCTC is meeting its administrative and planning obligations under the TDA, as well as to present a description of its organizational management and efficiency. To gather information for the TDA performance audit, Michael Baker reviewed various documents, conducted interviews with agency staff and the transit operators within RCTC's jurisdiction, and evaluated RCTC's responsibilities, functions, and performance of the TDA guidelines and regulations. Overview of RCTC RCTC was established by state legislative statute (Assembly Bill [AB] 1276, Chapter 1333) in September 1976. The Commission was initially governed by a board of seven commissioners representing the interests of communities within Riverside County. Today, RCTC's membership totals 34 commissioners comprising one elected official from each of the county's 28 incorporated cities, all five county supervisors, and a non -voting ex officio member from Caltrans, District 8 appointed by the governor. The member jurisdictions include the following entities: Table 1-1 RCTC Member Jurisdictions County of Riverside City of Eastvale City of Norco City of Banning City of Hemet City of Palm Desert City of Beaumont City of Indian Wells City of Palm Springs City of Blythe City of Indio City of Perris City of Calimesa City of Jurupa Valley City of Rancho Mirage City of Canyon Lake City of Lake Elsinore City of Riverside City of Cathedral City City of La Quinta City of San Jacinto City of Coachella City of Menifee City of Temecula City of Corona City of Moreno Valley City of Wildomar City of Desert Hot Springs City of Murrieta Triennial Performance Audit RCTC 1 Michael Baker International Riverside County is geographically located in Southern California, stretching nearly 200 miles across. The County is bordered by San Bernardino County on the north, Orange County on the west, San Diego and Imperial Counties on the south, and the Colorado River on the east. Riverside County was created in 1893 from parts of San Bernardino and San Diego Counties. The county derives its name from the City of Riverside, christened when the upper canal of the Santa Ana River reached it in 1871. The county's geography encompasses over 7,200 square miles and is traversed by 886 miles of highways, 2,600 miles of County and City -maintained roadways, approximately 150 miles of railways for freight, and 35 miles of railways for commuter trains. The 2021 countywide California Department of Finance (DOF) population estimate is 2.45 million residents, which currently ranks fourth largest in the state. The most populous cities in the county based on DOF estimates include Riverside (324,302), Moreno Valley (209,426), Corona (169,454), Murrieta (115,172), and Temecula (112,771). Against a backdrop of rapid population growth, Riverside County's economy has become increasingly diverse and robust. This is attributed to the economy's construction and industrial capacity. Interstates 10 (1-10), 1-15, and 1-215 corridors and State Routes 60 and 91 are major development corridors for employment centers and trade. As such, freight and some commuter trains parallel these corridors including 1-10, sections of 1-215 and sections of State Route's 60 State Route 91. As economic recovery in the Inland Empire continues, the economic and population trends have resulted in a myriad of transportation projects with investments in highway capacity, toll road development, rail transit, and express bus service that link all of it together. RCTC has committed itself to be an effective facilitator of mobility throughout the county. Role of RCTC When RCTC was established by the state legislature in 1976 as part of a reform of transportation planning and programming throughout Southern California, its mission was to plan and program transportation improvements for Riverside County. To this end, RCTC was designated as a regional transportation planning agency (RTPA) for state transportation planning and programming purposes. RCTC is responsible for setting policies, establishing priorities, and coordinating activities among the County's various transit operators and other public agencies. The Commission also programs and/or reviews the allocation of federal, state, and local funds for highway, transit, rail, nonmotorized travel (bicycle and pedestrian), and other transportation activities. The Commission serves as the tax authority and implementation agency for the voter -approved Measure A Transportation Improvement Program. Measure A was originally approved by the County's electorate in 1988. On November 5, 2002, the voters of Riverside County approved the renewal of Measure A commencing in July 2009 and extending through June 2039. Acting in its capacity as the Service Authority for Freeway Emergencies (SAFE), the Commission also provides motorist aid services designed to expedite traffic flow and enhance highway safety. Triennial Performance Audit 2 Michael Baker International RCTC These services include a call box program that provides roadside call box service for motorists; the Freeway Service Patrol (FSP), a roving tow truck service to assist motorists with disabled vehicles on the main highways of the County during peak rush hour traffic periods; and 511 traveler information services. These services are provided at no charge to motorists and are funded through a $1 surcharge on vehicle registrations. As the RTPA, RCTC is legally responsible for allocating TDA funds, the major source of funds for transit in the County. In addition, the Commission is designated as the Congestion Management Agency for the County. As such, the Commission coordinates with local jurisdictions in the establishment of congestion mitigation procedures for the County's roadway system. RCTC also received state and federal tolling authority to pursue major projects that include tolled roadways. In March 2017, the Commission commenced toll operations on the RCTC 91 Express Lanes following substantial completion of the State Route 91 corridor improvement project. These operations are accounted for in an enterprise fund. Also in 2021, RCTC became the managing agency for the Western Riverside County Regional Conservation Authority (RCA). RCA manages the largest habitat conservation plan in the country through the permanent conservation of 500,000 acres and through the protection of 146 native plants and animals, including 33 endangered or threatened species. Also, environmental permits held by RCA help improve Riverside County transportation by expediting freeway and road projects by as many as five years, ultimately saving tax revenues. Organizational Structure As noted above, RCTC's governing body comprises 33 voting members and one non -voting member from Caltrans, District 8. The board has eight committees to assist in providing policy recommendations in its decision -making process. Six committees comprise members of the board while two additional committees comprise non -board members. The committees consist of the following: Committee Executive Committee Purpose Reviews and makes final decisions on personnel issues and office operational matters. The committee is composed of the chair, vice chair, second vice chair, past chair, four representatives from cities in Western and Eastern Riverside County, and three members of the Board of Supervisors. The executive committee meets the second Wednesday of the month. Budget and Implementation Committee Oversees budgetary and financial matters of the Commission as well as construction contracts, grant allocations, and motorist assistance programs. Composed of up to 15 regular Triennial Performance Audit RCTC 3 Michael Baker International Committee Purpose and Function members of the Commission selected by the chair, with at least 9 members being from Western Riverside County and at least 4 members from Eastern Riverside County. The committee provides oversight on annual budget development, competitive state and federal grant programs, countywide communications and outreach programs, countywide strategic plan, legislation, short range transit plans (SRTP), and other areas as may be prescribed by the Commission. This committee meets the fourth Monday of the month. Western Riverside County Programs and Projects Committee Oversees transportation capital projects in Western Riverside County. Composed of up to 12 Western Riverside County regular members of the Commission. The committee provides policy direction on subject matter that may include air quality, capital projects, communications and outreach programs, specific transit projects, intermodal programs, motorist services, new corridors, regional agencies/regional planning, Regional and State Transportation Improvement Programs (RTIP/STIP), and Transportation Uniform Mitigation Fee Program related to Western Riverside County, and other areas as may be prescribed by the Commission. This committee meets the fourth Monday of the month. Toll Policy Operation Committee Addresses policies involving the Commission's toll facilities; sets tolls or rates; considers contracts with vendors working on the toll program; reviews statewide and federal legislative issues regarding tolling; reviews outreach and marketing of the toll facilities; interacts with neighboring jurisdictions regarding toll matters; and addresses user -based funding programs and future opportunities for toll facility development in Riverside County. The committee meets quarterly on the fourth Thursday of the months of February, May, August, and November. State Route 91 Advisory Committee Senate Bill (SB) 1316, as successor to AB 1010, the enabling legislation for the Orange County Transportation Authority's purchase of the State Route 91 toll road, calls for the creation of an advisory committee composed of 10 voting members and 3 non -voting members. The voting members consist of five members from Orange County Transportation Authority and five members from the Riverside County Transportation Triennial Performance Audit RCTC 4 Michael Baker International Committee Purpose and Function Commission. The non -voting members are composed of the Caltrans district directors from Districts 8 and 12, and a member of the San Bernardino County Transportation Authority. The committee meets quarterly on the first Friday of the months of March, June, September, and December. Citizens and Specialized Transit Advisory Committee (non -board member) Formerly called "Social Services Transportation Advisory Council," this committee was renamed in April 2021. Along with the name change, the committee bylaws were updated. The committee is composed of 15 citizen members appointed by the Commission, each serving a three-year term, and achieving geographic equity considerations. As part of the updates, committee term limits expire over the same three year period. This committee meets the statutory requirement for the Social Services Transportation Advisory Council under the TDA. Committee functions include review of SRTPs and transit coordination issues and participating in the transit needs hearings. The committee meets three times a year: in April, August, and December. Recruitment takes place every three years and new members participate in an orientation upon appointment. Technical Advisory Committee (non -board member) Composed of city and county public works directors, city managers, or transit planning managers. This committee meets on the third Monday of every other month. In addition, the Commission chair or the chairs of the policy committees have the authority to create ad hoc committees on specific issues. Ad hoc committees are legally required to be temporary and focused on a single issue and are not required to meet on a regular basis. Prior to hearing by the full Commission, business items related to RCTC's transportation programs are reviewed by the appropriate committees. Committee members are allowed opportunities to examine the items in detail prior to making recommendations to the full Commission. This provides a formal process for staff to communicate its analyses of policies, programs, and projects with its board members, and enables commissioners to make informed public policy decisions. Documentation provided by RCTC shows that during the audit period, RCTC has provided detailed staff reports on a regular basis to its committees. According to the annual Comprehensive Annual Financial Report (CAFR), RCTC's annual revenue for the fiscal years covered by this performance audit ranged from $586.2 million in FY 2019 to Triennial Performance Audit 5 Michael Baker International RCTC $569.4 million in FY 2020, and to $677.6 in FY 2021.1 The revenues include both program revenue and general revenue, including Measure A and TDA, which marginally declined between FYs 2019 and 2020, but then increased along with program grant revenues in FY 2021. RCTC's annual expenses ranged from $442.0 million in FY 2019 to $468.4 million in FY 2020, and to $435.7 million in FY 2021.2 During this period, governmental expenses fluctuated up and down, as highway expenses increased close to 50 percent between FYs 2019 and 2020 while transit expenditures decreased about 16 percent over the same time period. These two expense areas both decreased in FY 2021 compared to the prior year. Bicycle and pedestrian expenses decreased 40 percent between FY 2019 and FY 2020, then more than doubled the following year. It is recognized that RCTC increased its actual staffing levels from 46 FTEs in FY 2019 to 50 FTEs in FY 2020, and then to 63 FTEs in FY 2021. During this time period, RCTC became the managing agency for the Western Riverside County RCA; the increase in FTEs in FY 2021 was necessary to manage this increase in agency responsibility. Management continues to be firmly committed to the intent of the Commission's enabling of legislation that called for a relatively small staff. The RCTC staff organization chart during the audit period is shown in Figure 1-1.3 1 Annual CAFR, Overview of the Financial Statements; Changes in Net Position from governmental and business - type activities. 2 Annual CAFR, Statement of Activities. 3 It is noted that the RCA staff was integrated into RCTC in January 2021, and is shown in the organization chart. Triennial Performance Audit 6 Michael Baker International RCTC Figure 1-1 Staff Organization Chart OFRIVERSIDE COUNTY TRANSPORTATION COMMISSION 1 Executive Ure EP- Notes. (1)Dewty E,mwate Director serving as RCTC's Gut MOP Officer (2) Deputy Deena aJGnome, Ac nmutration serving as Disadvantaged Business Enterprise Daises; Officer (DBELO) and reppRing direr dy to f,grut&e (Amstar in trot capacity. Source: RCTC FY 2021-2022 FY21-22 Effective 7-1-2021 -. RN- Triennial Performance Audit 7 Michael Baker International RCTC Audit Methodology To gather information for this performance audit, Michael Baker International accomplished the following activities: • Document Review: Conducted an extensive review of documents including various RCTC files and internal reports, committee agendas, and public documents. • Interviews: Conducted interviews with RCTC executive and management staff as well as the transit operators under RCTC's jurisdiction. • Analysis: Evaluated the responses from the interviews as well as the documents reviewed about RCTC's responsibilities, functions, and performance to TDA guidelines and regulations. Additional research was conducted in audit areas that required further analysis. The remainder of this report is divided into four sections. In Section II, Michael Baker provides a review of the compliance requirements of the TDA administrative process. Section II I describes RCTC's responses to the recommendations of the previous performance audit. Section IV provides a detailed review of RCTC's functions, while Section V summarizes our statement of facts and recommendations for the current FY 2019-21 triennial cycle. Triennial Performance Audit 8 Michael Baker International RCTC Section 11 RTPA Compliance Requirements Fourteen key compliance requirements are suggested in the Performance Audit Guidebook for Transit Operators and Regional Transportation Planning Entities, which was developed by Caltrans to assess an agency's conformance with TDA. Our findings concerning RCTC's compliance with state legislative requirements are summarized in Table 11-1. TABLE 11-1 RCTC Compliance Requirements Matrix RCTC Compliance Requirements Reference Compliance Efforts All transportation operators and city or county governments which have responsibility for serving a given area, in total, claim no more than those Local Transportation Fund (LTF) monies apportioned to that area. Public Utilities Code, Section 99231 RCTC accounts for its claimants' areas of apportionment and has not allowed those claimants to claim more than what is apportioned for their area. RCTC makes this finding in each adopted resolution approving LTF claims. RCTC has an adopted LTF reserve and funding disbursement policy for the apportionments. RCTC allocates LTF based on population to determine each claimant's apportionments, according to law. Mid- year projections of LTF provide updated apportionment data to the claimants. Conclusion: Complied. The RTPA has adopted rules and regulations delineating procedures for the submission of claims for facilities provided for the exclusive use of pedestrians and bicycles. Public Utilities Code, Sections 99233.3 and 99234 RCTC has an adopted set of policies governing the Article 3 (SB 821) Bicycle and Pedestrian Facilities Program. A call -for -projects occurs biennially where an evaluation committee, comprised of a minimum of five evaluators representing a wide range of interests and geographic areas, evaluates proposed projects according to six evaluation criteria (reduced to five criteria after audit period). The evaluation committee will allocate funds to projects in order of highest ranking to lowest ranking until all Triennial Performance Audit RCTC 9 Michael Baker International TABLE 11-1 RCTC Compliance Requirements Matrix RCTC Compliance Requirements Reference Compliance Efforts Article 3 funds have been allocated. Payment to the claimant is on a reimbursement basis after submittal of sufficient documentation substantiating satisfactory project completion. Conclusion: Complied. The RTPA has established a social services transportation advisory council. The RTPA must ensure that there is a citizen participation process which includes at least an annual public hearing. Public Utilities Code, Sections 99238 and 99238.5 RCTC has established a Citizen and Specialized Transit Advisory Committee (CSTAC) fulfilling the requirements under PUC 99238. The CSTAC also serves as the Citizens Advisory Committee (CAC). In a letter dated May 2010, Caltrans stated that only one public hearing is required anywhere in the county to carry out the citizen participation process under PUC 99238.5. RCTC has since held at least one public hearing annually. As of August 2020, the committee comprises 15 members, which meets the membership requirements under PUC 99238. A chair and vice -chair are selected by the committee, and subcommittees may be formed as needed, according to the adopted bylaws for the RCTC CSTAC. Members represent the constituencies identified in state law and reside in a number of communities throughout the county in order to provide a perspective from a wide geographic area. RCTC identifies the area represented by the member, their categorical membership per TDA, and qualifications. The CSTAC participates on numerous issues including the annual unmet transit needs hearings, development of the coordinated plan for specialized transportation services, Call for Projects Triennial Performance Audit RCTC 10 Michael Baker International TABLE 11-1 RCTC Compliance Requirements Matrix RCTC Compliance Requirements Reference Compliance Efforts for Specialized Transit, and review of SRTPs. The committee meets three times annually in April, August, and December. Conclusion: Complied. The RTPA has annually identified, analyzed and recommended potential productivity improvements which could lower the operating costs of those operators which operate at least 50 percent of their vehicle service miles within the RTPA'sjurisdiction. Recommendations include, but are not limited to, those made in the performance audit. • A committee for the purpose providing advice on productivity improvements may be formed. • The operator has made a reasonable effort to implement improvements recommended by the RTPA, as determined by the RTPA, or else the operator has not received an allocation which exceeds its prior year allocation. Public Utilities Code, Section 99244 The Commission meets this requirement through adoption and approval of the SRTPs, which detail the operating and capital costs for planned transit services for both bus and commuter rail. The Commission also meets this requirement through the Triennial Performance Audit requirement conducted through PUC 99246. Conclusion: Complied. The RTPA has ensured that all claimants to whom it allocates Transportation Development Act (TDA) funds submits to it Public Utilities Code, Section 99245 For the audit period, RCTC received most of the fiscal and compliance audits from the claimants by the established dates set by the State Controller. Select Triennial Performance Audit RCTC 11 Michael Baker International TABLE 11-1 RCTC Compliance Requirements Matrix RCTC Compliance Requirements Reference Compliance Efforts and to the state controller an annual certified fiscal and compliance audit within 180 days after the end of the fiscal year (December 27). The RTPA may grant an extension of up to 90 days as it deems necessary (March 26). fiscal audits by a few claimants (Cities of Banning, Beaumont, Riverside, and Corona) were issued shortly after the time extension. RCTC reviews the audited farebox recovery ratios to determine compliance with this key TDA measure and any audit findings. Conclusion: Complied. The RTPA has designated an independent entity to conduct a performance audit of operators and itself (for the current and previous triennium). For operators, the audit was made and calculated the required performance indicators, and the audit report was transmitted to the entity that allocates the operator's TDA monies and to the RTPA within 12 months after the end of the triennium. If an operator's audit was not transmitted by the start of the second fiscal year following the last fiscal year of the triennium, TDA funds were not allocated to that operator for that or subsequent fiscal years until the audit was transmitted. Public Utilities Code, Sections 99246 and 99248 For the current three-year period, RCTC has retained Michael Baker International to conduct the performance audit of RCTC and the seven transit operators. Michael Baker International was retained to conduct the previous audit of RCTC and the transit operators for the three fiscal years that ended June 30, 2018. Conclusion: Complied. The RTPA has submitted a copy of its performance audit to the Director of the California Department of Transportation. In addition, the RTPA has certified in writing to the Director, that the performance audits of the operators located in the area Public Utilities Code, Section 99246(c) Email communication between RCTC and Caltrans indicated RCTC submitted performance audits of RCTC and each of the seven transit operators in April 2020. Conclusion: Complied. Triennial Performance Audit RCTC 12 Michael Baker International TABLE 11-1 RCTC Compliance Requirements Matrix RCTC Compliance Requirements Reference Compliance Efforts under its jurisdiction have been completed. The performance audit of the operator providing public transportation service shall include a verification of the operator's operating cost per passenger, operating cost per vehicle service hour, passengers per vehicle service mile, and vehicle service hours per employee, as defined in Section 99247. The performance audit shall include, but not be limited to, consideration of the needs and types of passengers being served and the employment of part-time drivers and the contracting with common carriers of persons operating under a franchise or license to provide services during peak hours, as defined in subdivision (a) of Section 99260.2 Public Utilities Code, Section 99246(d) The performance audit of each transit operator in Riverside County includes all required elements such as performance metric trends and verification of compliance measures regarding service delivery methods. Conclusion: Complied. The RTPA has established rules and regulations regarding revenue ratios for transportation operators providing services in urbanized and new urbanized areas. Public Utilities Code, Section 99270.1 and 99270.2 There are two transit operators under RCTC's jurisdiction, RTA and SunLine Transit, that serve both urbanized and non -urbanized areas. RCTC developed rules and regulations with Caltrans approval for determining the minimum fare ratios for these operators using a blended farebox recovery formula. The Commission reviews the blended farebox prepared by the operators by June 30 each year, which are reflected in the annual operator fiscal audits. The formula methodology and fare ratio calculations are annually submitted to Caltrans for concurrence by April 1 Triennial Performance Audit RCTC 13 Michael Baker International TABLE 11-1 RCTC Compliance Requirements Matrix RCTC Compliance Requirements Reference Compliance Efforts preceding the fiscal year for which the calculation takes place. Conclusion: Complied. The RTPA has adopted criteria, rules and regulations for the evaluation of claims under Article 4.5 of the TDA and the determination of the cost- effectiveness of the proposed community transit services. Public Utilities Code, Section 99275.5 RCTC utilizes Measure A local transportation sales tax revenues as well as federal funds to fund specialized community transit services. As such, Article 4.5 funds are not apportioned. Conclusion: Not Applicable. State transit assistance funds received by the RTPA are allocated only for transportation planning and mass transportation purposes. Public Utilities Code, Sections 99310.5 and 99313.3 and Proposition 116 RCTC allocates State Transit Assistance (STA) funds for transit purposes only. By RCTC policy, operators spend down existing TDA capital balances prior to requesting additional TDA capital funds. In June 2019, new RCTC adopted policy for STA enabled use of unallocated and unprogrammed STA funds for transit operating assistance under eligibility standards. Conclusion: Complied. The amount received pursuant to Public Utilities Code, Section 99314.3; by each RTPA for state transit assistance is allocated to the operators in the area of its jurisdiction as allocated by the State Controller's Office. Public Utilities Code, Section 99314.3 RCTC allocates operator revenue -based STA funds to the operators in accordance with the amounts published by the State Controller's Office. Conclusion: Complied. If TDA funds are allocated to purposes not directly related to public or specialized transportation services, or facilities for exclusive use of pedestrians and bicycles, the Public Utilities Code, Section 99401.5 Since 2009, all TDA funds have been used exclusively for public transit in Riverside County. Per a clarification letter issued by Caltrans in May 2010, RCTC continues to hold an annual public hearing to solicit transit comments in compliance with law to gather input on Triennial Performance Audit RCTC 14 Michael Baker International TABLE 11-1 RCTC Compliance Requirements Matrix RCTC Compliance Reference Compliance Efforts Requirements transit planning agency has transit needs for analysis and annually: consultation with the CSTAC and the operators. • Consulted with the Social Services Transportation Conclusion: Complied. Advisory Council (SSTAC) established pursuant to Public Utilities Code, Section 99238; • Identified transit needs, including: o Groups that are transit -dependent or transit disadvantaged, o Adequacy of existing transit services to meet the needs of groups identified, and o Analysis of potential alternatives to provide transportation services; • Adopted or re -affirmed definitions of "unmet transit needs" and "reasonable to meet;" • Identified the unmet transit needs and those needs that are reasonable to meet; Adopted a finding that there are no unmet transit needs that are reasonable to meet; or that there are unmet transit needs including needs that are reasonable to meet. If a finding is adopted that there are unmet transit needs, these needs must have been funded before an allocation Triennial Performance Audit RCTC 15 Michael Baker International TABLE 11-1 RCTC Compliance Requirements Matrix RCTC Compliance Requirements Reference Compliance Efforts was made for streets and roads. The RTPA has caused an audit of its accounts and records to be performed for each fiscal year by the county auditor, or a certified public accountant. The RTPA must transmit the resulting audit report to the State Controller within 12 months of the end of each fiscal year and must be performed in accordance with the Basic Audit Program and Report Guidelines for California Special Districts prescribed by the State Controller. The audit shall include a determination of compliance with the transportation development and accompanying rules and regulations. Financial statements may not commingle the state transit assistance fund, the local transportation fund, or other revenues or funds of any city, county or other agency. The RTPA must maintain fiscal and accounting records and supporting papers for at least four years following the fiscal year close. California Administrative Code, Section 6662 The accounting firm of Macias Gini & O'Connell, LLP, provided the independent auditor's reports of RCTC for FY 2019; for FYs 2020 and 2021, Eide Bailly, LLC, provided the auditor's reports. The Audited Financial Statements and Compliance Reports were submitted to the State Controller within 12 months of the end of each fiscal year. RCTC also maintains fiscal and accounting records and supporting papers for at least four years following the fiscal year close. Conclusion: Complied. Triennial Performance Audit 16 Michael Baker International RCTC Findings and Observations from RTPA Compliance Requirements Matrix RCTC has satisfactorily complied with all relevant state legislative mandates for RTPAs. Since August 2020, the membership of the CSTAC has been revised and stabilized with 15 members. Also, the TDA mandate for RCTC to analyze and recommend potential productivity improvements for the transit operators is accomplished through review and approval of SRTPs for each operator, and utilizing the Triennial Performance Audit recommendations. With regard to the schedule of the annual audit of the TDA financial statements of each operator's transit services fund, formal communications between RCTC finance staff and the operators' finance departments appear limited. Most of the operator TDA financial audits needed the 90 -day extension period for completion and submittal to the State Controller's Office. However, no documented request was made by the operators to the RCTC finance department for approval of such time extension beyond the initial six months following the fiscal year being audited. Notification of the schedule and for making an extension request for the TDA fiscal and compliance audits should be developed by RCTC and sent to the operators to better predict the completion of the financial audit reports, and learn of any impediments to completing the reports within the six-month schedule. These could include events or actions within or not within the control of the operator or the independent auditor. Triennial Performance Audit 17 Michael Baker International RCTC Section 111 Prior Triennial Performance Audit Recommendations This chapter describes RCTC's response to the recommendations included in the prior triennial performance audit cycle (FYs 2016-18). For this purpose, each prior recommendation for the agency is described, followed by a discussion of the agency's efforts to implement the recommendation. Conclusions concerning the extent to which the recommendations have been adopted by the agency are then presented. Prior Recommendation 1 Revisit TDA funding formula for Western Riverside County bus and commuter rail service. Background: A carryover from the prior two performance audits, RCTC implements a TDA funding formula for Western Riverside County for distributing LTF funds between bus and commuter rail service. The formula -78 percent LTF toward public bus and 22 percent to commuter rail —was developed in FY 2004-05 and has remained since. The Western County bus operators are guaranteed a minimum funding base, which was established by the FY 2003-04 LTF/STA apportionment and upwardly adjusted annually by the Consumer Price Index. The Commission has been reviewing its allocation formula in light of the Perris Valley Line rail extension opening in June 2016. To expand the use of TDA transit revenue, RCTC developed a policy allowing STA funds to be used for transit operations under certain statutory conditions. Continued dialog should continue with Western County bus operators and commuter rail staff to determine the appropriate percentage split. Actions taken by RCTC: According to a board report to the Commission, staff is currently monitoring the current economic conditions to determine the appropriate time to revisit the TDA formula for Western Riverside County bus and commuter rail service. The COVID-19 pandemic, federal stimulus funds, and the subsequent changes in transit service have changed the funding landscape for Riverside County operators. In addition, services are still reduced with many riders transitioning from commuting to working from home. Efforts to address the funding formula for Western Riverside County bus and commuter rail service were temporarily placed on hold. Rail funding and Metrolink funding plans are being reviewed by RCTC, which will affect the funding formula. RCTC staff continue to monitor economic conditions and will determine when to revisit this issue once economic conditions and ridership recovery take shape. Triennial Performance Audit 18 Michael Baker International RCTC Conclusion: This recommendation has not been implemented and is carried over in this audit for full implementation. Prior Recommendation 2 Ensure that transit operators complete and submit separate State Controller Reports for general public transit and for specialized services. Background: A carryover from the prior two performance audits, one requirement for the Transit Operators Financial Transactions Report is that the transit operator prepares separate reports for general public transit and for specialized services. Some operators have separated their reports while others continue to submit a single report. It is recommended that the Commission enforce and monitor the requirement that the operators adhere to the proper reporting procedures. Actions taken by RCTC: Several operators changed their reporting to two separate documents, one for general public transit and the second for specialized services, in compliance with State Controller Office rules. Only one operator, Beaumont Transit, continues to submit one State Controller Report rather than the required split between two reports. This requirement is included in the City of Beaumont performance audit recommendation for implementation. RCTC staff also conduct quarterly analyses of TransTrack report data, which includes checking variances in data month over month. It is recommended that the Commission continue to ensure that the operators adhere to the proper reporting procedures for the Transit Operator Financial Transactions Reports. Conclusion: This recommendation has been partially implemented and is carried over in this audit for full implementation. Prior Recommendation 3 Clarify options for operator eligibility to use State Transit Assistance funds for operations. Background: As part of implementing a prior audit recommendation, the June 2019 RCTC staff report titled "Policy Update on the Use of State Transit Assistance Funding by Operators" describes changing the RCTC policy to enable operators to use STA for operating expenses. The eligibility requirements and efficiency standards under TDA law (PUC 99314.6) are cited in the staff report, but do not reflect changes to the law since passage of SB 508 in October 2015. SB 508 qualifies an operator to still be eligible for STA operating funds even if the operator fails to meet either efficiency standard. The qualification is based on a sliding scale rather than a pass/fail Triennial Performance Audit 19 Michael Baker International RCTC proposition so that an operator may still receive less than 100 percent of STA for operations and the balance of funds for capital when the efficiency standard is not met. As an example, if the operator fails to meet both efficiency standards for operating cost per hour by 10 percent each, the operator is eligible to receive 90 percent of STA for operations, and 10 percent for capital. The change in state law was intended to provide funding relief to the operators in light of ridership and farebox issues from economic circumstances. The RCTC policy for STA should be adjusted to reflect this eligibility change to enable operators to access STA for operating expenses even if they fail to meet the state efficiency standards. Actions taken by RCTC: The Commission approved Resolution No. 21-011 in June 2021, which modified its STA guidelines to include additional information regarding the sliding scale metrics outlined in SB 508. This enables an operator to receive less than 100 percent of STA for operations and the balance of funds for capital when the efficiency standard is not met. For additional COVID relief for transit, the state legislature passed state law (AB 90 and AB 149) to suspend the STA eligibility test, including for the last year of this audit period and through FY 2022-23, and allow operators to use 100 percent STA for operating expenses. The current policy also allows for STA funds to be utilized for Commission -owned station operations and right-of-way maintenance of rail properties, pursuant to PUC Sections 99234.9 and 99313.7, which allow an RTPA to file claims for rail passenger service operation and capital improvement expenditures, including construction and maintenance of intermodal transportation facilities. Conclusion: This recommendation has been fully implemented. Prior Recommendation 4 Review purpose of Short -Range Transit Plan updates. Background: RCTC requires annual updates to the SRTPs from the operators as a means to submit TDA claims for funding. Some operators indicated, and RCTC recognized, these annual updates to the SRTPs have essentially become annual budgeting documents with changes that reflect year-to-year service and budget adjustments. This is contrary to the intended purpose of an SRTP, as is typically practiced elsewhere, to be a mid -range plan that forecasts and provides direction on operating and capital projects and service delivery for the next three- to five-year period. The SRTP update process should be reviewed by RCTC with the Transit Operator Working Group. Possible changes could include the frequency of updates from annually to every three or five years, a time frame that can generally show significant changes in transit operations that will need to be planned and funded. Triennial Performance Audit 20 Michael Baker International RCTC Annual performance updates and data tracking could be addressed through existing channels such as regular monitoring by RCTC using TransTrack, operator -provided reports, the annual RCTC Countywide Performance Report, and the annual TDA claims process. RCTC has statutory authority through the TDA to create a claims form and process that meets local conditions; that is to say, to require operators to submit performance information and other details to enable RCTC to make findings for annual allocation of LTF and STA revenue. The SRTP, in turn, should serve as a planning document to enable the operators and RCTC to envision transit for a longer time horizon and coordinate future service delivery, capital projects, and funding for consistency with countywide transportation and regional transportation plan goals. Actions Taken by RCTC: RCTC staff held a workshop in November 2018 to seek operator feedback on current processes and to better understand the purpose and needs that the SRTP serves for each agency. RCTC continued to seek feedback during 2019. Staff developed a revised outline and tables in FY 2021 to assist transit operators in showcasing their operating and capital planning. The SRTPs serve as the county's primary justification for federal and state grants for transit operations and capital and provide a short-term vision of public transportation for the county, including strategies that will help guide transportation decisions over the next three to five years. Under state law, the Commission is tasked with the responsibility to identify, analyze, and recommend potential productivity improvements to ensure federal, state, and local funds are allocated to transit operators to provide needed transit services for county residents. An annual SRTP update is a mechanism to meet this obligation and coordinate transit services throughout the county. The core components of each agency's SRTP include the operating and capital plans and project justifications that are utilized as the basis for receiving transit funding. These plans enable the Commission to adopt an annual resolution to allocate TDA funds and direct staff to add the federally funded and regionally significant projects into the Federal Transportation Improvement Program (FTIP), among other planning and programming benefits. Conclusion: This recommendation has been fully implemented. Prior Recommendation 5: Develop an in-house TDA Administrative Guidance Manual. Background: RTPAs such as RCTC play a critical role in administering TDA funding and meeting the spirit of the law. The statute delegates a level of flexibility that enables the transportation planning agency to administer the funds in a way that is conducive to local conditions while remaining within the framework of the law. RCTC's administrative practices have their nuances, including the apportionment and allocation split of TDA revenue between bus and rail, the general format of the claim form, and use of performance monitoring tools such as TransTrack. Triennial Performance Audit 21 Michael Baker International RCTC Given the relative complexity of the administrative process, from the apportionment to the claim submittal and adoption, and from payment tracking to performance evaluation and monitoring, RTPAs have developed local guidance manuals that contain their procedures and protocol for the TDA. Changes in TDA administration and RCTC's interpretation of the statute warrant development of a comprehensive in-house manual as a repository of all localized materials and processes related to the TDA. Such a guidance document provides transparency in funding administration and also serves as a training tool for both RCTC personnel and the claimants for consistency in regional practice. Actions Taken by RCTC: RCTC staff -initiated development of a scope of work for a transit funding manual, which includes policies and procedures for TDA administration. An RFP was released on May 26, 2022. Conclusion: This recommendation has been partially updated and is being carried forward for full implementation. Triennial Performance Audit 22 Michael Baker International RCTC Section IV Detailed Review of RTPA Functions In this section, a detailed assessment of RCTC's functions and performance as an RTPA during this audit period is provided. Adapted from Caltrans's Performance Audit Guidebook, categories for RCTC's activities can be divided into the following activities: • Administration, Management, and Coordination • Transportation Planning and Programming • TDA Claimant Relationships and Oversight • Public Information and External Affairs • Grant Applications and Management Within the general headers are subtopics for detailed review of specific programs. For example, under Transportation Planning and Programming is the subtopic for transit planning, which includes commuter assistance programs and the relatively new VanClub program. Administration, Management, and Coordination RCTC develops policy goals and objectives each fiscal year as part of the budget process that are consistent with the Commission's overall strategic direction. The Commission policy goals and objectives provide an opportunity to match the Commission's spending priorities in a manner that implements the promises made to the citizens of Riverside County in both Measure A Expenditure Plans and that fulfills other Commission responsibilities. The Commission identifies 17 goals, grouped by four core mission values, covering the below topics: • Choice • Environmental stewardship • Mobility • Access • Goods movement • State of Good Repair • Promises fulfilled • Innovation • Information • Workforce mobility • Population growth • Economic impact • Streets and roads • Transit • Active transportation facilities • Grants • Local Measure A value Triennial Performance Audit 23 Michael Baker International RCTC RCTC continued to balance its growing responsibilities as a transportation planning and programming agency with project delivery and implementation. With continuation of the Measure A program, one of RCTC's primary strategies has been project delivery and getting projects into construction. The increased development and delivery of projects programmed through Measure A renewal, combined with the Transportation Uniform Mitigation Fee (TUMF), remains a priority of the agency together with multimodal planning, rail development, goods movement, and toll lane implementation. RCTC has both state tolling authority and federal tolling authority for the toll projects and has design -build authorization for the State Route 91 corridor improvement project and the 1-15 Express Lanes Project. Despite this increased responsibility, RCTC maintains a relatively small but growing staff (see Table IV -1). The growth in employees during the time period includes the RCA staff starting in January, 2021. Toll operations staff are split between toll operations and project development/delivery functions. Turnover for the three-year period included 28 appointments (including promotions and changes in classifications) and 15 separations. These staffing numbers are complemented by consultants to provide specialized services. Of note during the latter part of the audit period was the retirement of the chief financial officer, as well as other key staff. Management continues to be firmly committed to the intent of the Commission's enabling of legislation that called for a small staff. Table IV -1 Staff Summary by Function/Program FYs 2019-21 Function/Program FY 18-19 FY 19-20 FY 20-21 Management Services and Administration 18.0 18.7 18.5 Planning and Programming 3.5 5.5 5.3 Rail Operations and Maintenance 3.4 3.5 4.4 Specialized Transit/Transportation 2.9 2.4 2.6 Commuter Assistance 1.4 1.4 1.8 Motorist Assistance 0.8 0.9 1.0 Capital Project Development and Delivery 16.0 17.6 16.6 Regional Conservation 12.8 Total Full-time Equivalents 46.0 50.0 63.0 Source: FY 2021 CAFR COVID-19 Impacts RCTC's ability to budget for revenues and expenses was uncertain once the COVID-19 pandemic hit in March 2020 and stay-at-home orders were issued. Since the magnitude and duration of these impacts were uncertain, the Commission continuously monitored, assessed, and adjusted the revised revenue projections and budgeted expenditures as necessary through the economic recovery from the crisis. Under Executive Management's leadership, it was 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 Triennial Performance Audit 24 Michael Baker International RCTC personnel. The Commission expected declines in sales tax revenues during the fiscal year ending June 30, 2020, and the fiscal year ending June 30, 2021, because of the required sheltering, business shutdowns, and the impact of COVID-19 on the economy. This impacted the Commission's sales tax revenue bonds, toll revenue bonds, capital projects, and TDA LTF, among its other budgeted items and program functions. The Commission identified factors that may have affected the results and estimates of its projections, including (1) the severity of the COVID-19 pandemic on Commission employees and users of the State Route 91 Express Lanes, (2) the duration of the suspension of certain express lanes account fees and reduction of certain tolls charged to users of the 91 Express Lanes and the scope and duration of future suspensions or reductions, (3) the scope and duration of future stay- at-home orders by state, county, or local governments, (4) the Commission's operations, (5) the severity of any local, national, or worldwide recession caused by the COVID-19 pandemic and the speed and scope of any recovery, and (6) the extent that public transit and express lanes utilization patterns may permanently change as a result of the COVID-19 pandemic. At the time of the onset of the pandemic, the Commission was unable to predict with certainty the impact of any such factors on the Commission's finances and operations. Capital Project Development The agency's implementation of its strategic plan has played a key role in the success to administer the highway capital program as well as other programs such as for transit in Riverside County. The Measure "A" Expenditure Plan is divided into a 10 -year highway delivery plan, CETAP Corridors, Regional Arterial TUMF network, and rail network improvements. RCTC provides assistance to public agencies that have regionally significant projects that have a nexus to the Measure "A" Expenditure Plan or the State Transportation Improvement Program. Management of the Measure "A" Expenditure Plan has continued with the assistance of the Bechtel Infrastructure Corporation. Bechtel provides program management and construction management services, which includes program managers, project engineers, construction engineers, inspectors, contracts administration, and support staff. Bechtel assists RCTC in forming and managing contracts between RCTC and its consultants and contractors. Construction was completed in April 2021 of the 1-15 Express Lanes project. This $472 million effort adds two tolled express lanes in each direction to an approximately 15 -mile section of 1-15 between State Route 60 and Cajalco Road. The new 15 Express Lanes travel through the Cities of Corona, Eastvale, Norco, and Jurupa Valley. In July 2019, a contractor completed the installation of new roadside toll equipment to allow for interfacility trip pricing between the RCTC 91 Express Lanes and 15 Express Lanes. In FY 2019-20, the Commission initiated project development activities for the 1-15 Express Lanes —Southern Extension. Under a design -build contract awarded by the Commission in March 2020, an express lanes connector will connect the RCTC 91 Express Lanes to the 15 Express Lanes north of the 15/91 interchange. In 2019, construction began on the State Route 60 Truck Lanes project. The project includes an eastbound truck -climbing lane and a westbound truck -descending lane to improve overall safety Triennial Performance Audit 25 Michael Baker International RCTC along a heavily used highway corridor through the Badlands area of Western Riverside County through the installation of a wider median, a higher median barrier, and better visibility in curved areas of the highway. The project was completed and opened to the public in May 2022. In March 2020, the Commission completed its third full year of operation of the RCTC 91 Express Lanes. The completed 91 Project connects the OCTA 91 Express Lanes with the RCTC 91 Express Lanes using a 2 -mile long mixing area. The Commission has the authority to charge tolls on the RCTC 91 Express Lanes for 50 years through March 2067, based on a Toll Facility Agreement between the Commission and Caltrans. Internal Controls As a means for promoting internal coordination and communication among RCTC service lines and achieving greater efficiencies, the agency continues to work with several computer programs. The Commission's Finance Department utilizes the Tyler EDEN enterprise resource planning (ERP) system for invoices, contracts, and claims, although the system is deemed outdated and plans are to change the software in January 2024 to another ERP financial system, Tyler Munis, which is a new platform within the same vendor's products. During the audit period, there were no significant changes in policies and procedures in terms of internal controls. During the COVID-19 pandemic, Finance Department functions such as accounts payables and receivables, and journal entries were moved to a primarily remote, electronic environment. Paper payment checks continued to be processed at the office every other week. Commission IT staff established secure remote working processes, which finance staff learned to perform their functions, given that finance -related activities are normally conducted at the office. 2013 Toll Revenue bonds were partially refinanced in October 2021 and the 91 Express Lanes TIFIA loan was prepaid with issuance of toll revenue refunding bonds including 2021 Series A senior bonds, 2021 Series B-1 senior bonds, 2021 Series B-2 Senior Bonds, and 2021 Series C second lien bonds. The new bonds were refunding outstanding 2013 Series A senior bonds, toll revenue subordinate bonds, and outstanding TIFIA obligations. The 2021 Toll Revenue Refunding Bonds prepaid $509.8 million in the TIFIA obligation and refunded $125.4 million in the 2013 A Toll Bonds (including bonds tendered for purchase and tendered for exchange) and $35.6 million for the cash defeasance of the 2013 B Toll bonds. The agency is committed to maintaining a strong electronic records management system that provides storage and accessibility of the Commission's actions and documents, and the retention capability for incoming and internally created records. Staff migrated to Laserfiche electronic records storage and management, which provides a more organized structure while backing up data regularly. Digital recordings of meetings and electric transcriptions of meeting minutes are kept, and electronic signature policies are in place. Laserfiche managed by RCTC replaces the InfoWorks system, which comprised computer servers kept by Bechtel Corporation, the Commission's program and construction management contractor. All files, from board meetings Triennial Performance Audit 26 Michael Baker International RCTC to capital project documents, have been transferred to RCTC's Laserfiche system from InfoWorks. The RCA also uses Laserfiche for its services combined with geographic information systems overlays. The Commission has a records retention policy, and is working on a records management policy to guide use and control of the Laserfiche program tool, in particular for procurement requirements. Laserfiche also has a public facing portal that can be integrated into RCTC's website to provide information such as procurement public records. Staff is working on this customer service aspect of the tool. RCTC utilizes the PlanetBids procurement platform. RCTC implements a centralized paperless procurements process in order to strengthen controls and ensure consistency in the application of procurement policies and procedures and adherence to applicable laws and regulations. Several benefits are realized from using a digital procurement platform, including automating functions such as cost bidding and submittal of large construction bids, having the ability to conduct virtual pre -bid and bid interviews, and reducing redundancy from paper procurement. Bids over $250,000 in contract value must go through a formal bid process. Similar procurement processes are employed in general for contracts large or small, and depending on whether federal funds are involved, which require additional forms. The PlanetBids platform is tied to the EDEN financial system for financial input and documentation. A report on the usage of single signature authority by the executive director is released quarterly. The Commission's procurement policy manual was updated in March 2021 in consultation with the RCA, and to reflect changes made in the Caltrans Local Assistance Procedures Manual for roadway contracting. RCTC has integrated several software systems to enable greater functionality and benefit to all staff in the management of accounting and project information while automating a paperless workflow system. Ultimately, these improvements result in enhanced customer service to its members and project delivery to the community. Ongoing process improvement underlies the agency's action to continue the replacement of its financial software system in order to better integrate project accounting needs and improve accounting efficiency. Beacon Economics and the University of California, Riverside School of Business Center for Economic Forecasting and Development release revenue forecasts for Measure A and LTF. An independent audit is conducted annually on the Commission's accounting books and records. The Commission is also responsible for ensuring that audits of Measure A and TDA funding recipients are completed and reviewed for compliance and other matters in a timely manner. The chief financial officer or designee in the finance department reviews the TDA financial audits of the claimants that are completed by outside accounting firms. Audit findings are reported to the Audit Committee before the audits go before the board. Personnel Management Personnel benefits and rights are stipulated in the RCTC Personnel Policies and Procedures Manual, which was updated most recently in November 2019, with changes mainly in the areas of elections and campaigns. Triennial Performance Audit 27 Michael Baker International RCTC Employee evaluations are based on a performance rating scale. The updated evaluations improve upon the method and basis for assessing staff performance and provide greater consistency in the process. The Human Resources Department maintains official records of each employee's job performance each year. Multiple steps are involved in the current evaluation, including the employee completing a self -evaluation, the supervisor completing the entire performance evaluation, review by the department director and Human Resources for approval, and an evaluation meeting with the employee to complete the evaluation. Many of the steps are completed electronically including virtual meetings for evaluation given the COVID-19 pandemic. Any area of the performance evaluation that is rated at the lowest includes a performance improvement plan. The Executive Director approves rating/merit percentage increases. The performance criteria and ratings scale differ for evaluations of staff, managers, directors, and executives. Up to 4 percent merit pay raise can be awarded from the ratings. The evaluation form is being reviewed by the Human Resources administrator who joined the agency in September 2019; the form could be revised to include a section on personnel conduct relative to agency culture. More defined roles for staff have been developed, enabling personnel to enhance their focus on their respective responsibilities. RCTC has had an opportunity to evaluate and refine its organizational structure given the challenges of assuming a rapid pace of project delivery and meeting milestones promised to the voters for Measure A. Transportation Planning and Programming This functional area addresses planning functions required of RCTC, including development of the federal transportation improvement program (FTIP) and the Congestion Management Program, Bicycle and Pedestrian Facilities Program, and Rail and Transit Planning, including the SRTP process. Additional transportation programs administered by the agency are also discussed, including the Commuter Assistance Program and VanClub. Federal Transportation Improvement Program RCTC is responsible for preparing the FTIP for Riverside County projects that have been approved for federal and state funding. Federal fund sources that RCTC programs include Congestion Mitigation and Air Quality (CMAQ), Surface Transportation Block Grant Program (STBG), Active Transportation Program (ATP) or Transportation Alternatives Program (TAP) funding, and transit formula and discretionary revenue by the Federal Transit Administration. Through the federal Infrastructure Investment and Jobs Act, new federal funding for multimodal projects will become more available and benefit modes such as active transportation and commuter rail, which were reexamined during the COVID-19 period. State fund sources include SB 821, LTF, STA, SGR, LCTOP, STIP Regional Improvement Program funds, and SB 1. Regional TUMF revenues are also allocated to RCTC by the Western Riverside Council of Governments. Triennial Performance Audit 28 Michael Baker International RCTC Federal regulations require that all projects funded with state and federal funds be included in an FTIP in order to receive the funds. In addition, projects that are regionally significant but locally funded are required to be included in the FTIP. RCTC programming staff indicated that local match requirements by the local jurisdictions as a condition of receiving state and federal funding have been more difficult to meet due to less local contributions such as general fund dollars. Recent cost proposals submitted by firms for construction have significantly overbid project estimates due to economic factors brought on by COVID-19, including skilled worker shortages leading to higher wages, and materials cost increases from supply chain issues. RCTC has been careful to not over program available revenue in light of the cost bid trends. RCTC submits the county's FTIP to Southern California Association of Governments (SCAG), the metropolitan planning organization for the six -county region of Orange, Los Angeles, Imperial, Riverside, San Bernardino, and Ventura counties. SCAG is responsible for ensuring that the FTIP is consistent with the long-range Regional Transportation Plan and Sustainable Communities Strategy and adopted air plans. SCAG is the responsible agency for submittal of the FTIP to Caltrans and federal agencies for approval. The FTIP is generally updated every two years with administrative and formal amendments occurring between updates. When there are sufficient funds to do so, RCTC administers a call for projects for Riverside County local agencies to consider participating in. Project evaluation criteria is developed in coordination with the Technical Advisory Committee prior to each call for projects. More funding requests are being made from RCTC member agencies between calls for projects. Criteria are modified to meet the specific eligibility requirements for each fund source per local, state and federal guidelines. RCTC has used the following criteria for past calls for projects for CMAQ, STBG, and STIP funds: 1. Emphasis on Measure A 2. Regional Significance 3. Economic Development 4. Project Readiness 5. Air Quality 6. Safety 7. Congestion Mitigation 8. Matching Funds 9. System Continuity 10. Geographic Balance In July 2019, the Commission adopted a policy for priority to be given to the 2019-29 Western County Highway Delivery Plan supporting projects for programming of CMAQ (designated under the South Coast Air Basin) and STBG funds. Planning and programming staff are crossed -trained to work on each of the three different programming documents that comprise the FTIP: local highways, state highways, and transit. The programming of projects by RCTC involves a high level of technical capability and coordination among affected agencies. The 2021 SCAG FTIP showed a total transit program cost of $13.7 billion for the six -year FTIP period of FYs 2020-21 through 2025-26. The revenues to support the transit program include Federal Transit Administration (FTA), state, and local sources. The 2019 FTIP Triennial Performance Audit 29 Michael Baker International RCTC covering FYs 2018-19 through 2023-24 showed a total transit program cost of $13.3 billion. The Riverside County Transit FTIP for 2019 showed about $1.1 million for operating assistance and capital projects in Western Riverside County. Transit programming in the FTIP is generally for a shorter time horizon (1-2 years) in comparison to highway projects (6 years). Programming staff are highly involved with SCAG committees and served on several subgroups during the SCAG 2020 Regional Transportation Plan process including finance, transportation modeling, plans and programs, and sustainability. RCTC program staff served as representatives during the 2020 Regional Transportation Plan review. Staff also serve in key statewide associations, such as California Association of Council of Governments, that provide additional opportunities to interface with the California Transportation Commission and Caltrans. In addition, programming staff have responsibility for the TUMF. Based on an amended Memorandum of Understanding with Western Riverside Council of Governments, the Commission receives 45.7 percent of TUMF revenues. The decrease in projected TUMF revenues for FY 2021 compared to prior years was primarily related to the anticipated impacts of COVID- 19 on new residential and commercial development. TUMF funds received by the Commission are split between new corridors and regional arterials. Congestion Management Program RCTC is the designated Congestion Management Agency for Riverside County. As such, RCTC is responsible for updating the Congestion Management Program, which better links land use, transportation, and air quality and prompts growth management strategies, thereby prompting reasonable growth management programs that will effectively utilize new transportation funds, alleviate traffic congestion and related impacts, and improve air quality. The program involves the monitoring of congestion along a designated system that includes all highway facilities and selected major arterials. The Congestion Management Program is incorporated in the Commission's Long -Range Transportation Study, which was adopted in December 2019. The system is monitored to ensure that the level of service along these roadways does not fall below the adopted level of service. Should a roadway fall to a deficient level of service, a deficiency plan would be required to identify mitigation measures, including a cost and schedule of the recommended mitigation measures. Bicycle and Pedestrian Facilities Program As an important piece of the county transportation system, nonmotorized transportation is encouraged by RCTC. In its efforts, the agency administers a biennial call for projects process for bicycle and pedestrian facilities. Article 3 of the TDA provides two percent of funding for the implementation of bicycle and pedestrian facilities. RCTC's Bicycle and Pedestrian Facilities: Biennial Call for Projects Guidelines document was last updated for the FY 2022 grant cycle and details the policies of the program, including project eligibility, scoring, and award. An evaluation committee comprising a minimum of five evaluators —representing a wide range of interests and geographic areas, such as accessibility, bicycling, Coachella Valley, Western Riverside, public Triennial Performance Audit 30 Michael Baker International RCTC transit, and the region —evaluate proposed projects according to the following five evaluation criteria: 1. Destinations Served 2. Safety 3. Multimodal Access 4. Matching Funds 5. Population Equity An average score is given to each project to determine funding priorities. During the audit period, the following allocations were made according to the Commission agenda actions taken: • FY 2019: $0 (biennial cycle included FY 2018 allocations) • FY 2020: $3,901,915 • FY 2021: $900,000 The allocations are based on up to 2 percent of TDA fund apportionments, as allowed by law, plus carryover funds from prior years. Expenditures on bicycle and pedestrian facilities per the CAFR were as follows: • FY 2019: $2,319,895 • FY 2020: $1,367,800 • FY 2021: $3,388,814 An unclaimed balance exists because not all projects that are selected to receive funding are ready for construction. Agencies receiving an award are reimbursed in arrears only upon proof of satisfactory project completion, including but not limited to the RCTC claim form for the fiscal year in which the project was awarded, a signed assurance of maintenance and a copy of the notice of completion, and photographs of the completed project. The adopted Commission policy states that agencies will have up to three years to complete the project, or the agency may request an extension of time to complete the project if there are uncontrollable delays in project delivery. Any unused allocations after this time are reprogrammed into the next year's revenues. Transit Planning including the Short -Range Transit Planning Process RCTC has the responsibility of oversight in both the funding and operations of Riverside County's public and specialized transit operators. The Commission is responsible for the coordination of transit among all the operators in the county to ensure an efficient delivery of services. In this Triennial Performance Audit 31 Michael Baker International RCTC capacity, the agency has provided a regional perspective to facilitating the provision of public transit by the seven transit operators and the Southern California Regional Rail Authority. Transit Operators Working Group Ensuring the efficient distribution and expenditure of funds in developing a countywide transit network is a critical element of RCTC's oversight role. RCTC convenes the Transit Operator Working Group (TOWG) made up of the county transit operators to strengthen ability to coordinate efficient and effective transit service. The coordination of services and operations is intended to reduce redundancy, enable transfers, identify deficiencies in connectivity and the means in which to resolve them and, therefore, provide a more efficient transit system for the people of Riverside County. While not a formal group, the mission critical elements of the TOWG are: • To inform the County's public transit operators, as a group, of new policy, policy interpretations, and other critical information affecting all operators. • To develop appropriate common statements, among the transit operators, providing a mechanism to craft common messages and develop a common voice around key issues of interest to public transit providers. • To provide a forum for input from the County's public transit operators and dialog with RCTC concerning matters affecting public transit. • To share service and operational information to improve the delivery of public transportation services in Riverside County. • To confer and coordinate on key issues where opportunity for collaboration, coordination, or even consolidation will further public transportation services in Riverside County. • To hold at least one annual joint meeting with the CSTAC. The TOWG meets regularly during the annual SRTP update, kicking off each February. Agendas cover several components including operator reports; revenue forecasts for local, state, and federal funds; SRTP timelines and outlines; and current transit program activities such as grant funding opportunities, call for projects, and upcoming audits. The TOWG meetings also enable RCTC to offer assistance with completing the TDA claims. One-on-one assistance is provided to the claimants when requested. Starting in FY 2020-21, RCTC initiated bi-monthly roundtable meetings with the TOWG to discuss transit policy issues, informational sharing, and updates. In addition, RCTC is taking a greater leadership role in the rollout of zero emission vehicles regionally in coordinating with and supporting the transit operators, in particular with the smaller operators. Triennial Performance Audit 32 Michael Baker International RCTC SRTP Process Each operator, including fixed -route bus, specialized transit, and rail, is required to prepare and deliver an SRTP to RCTC that outlines the planned service for the next three years. The SRTP provides the justification for the operator to receive TDA funds for both capital and operating expenditures. Financial tables including cash flow are developed in the SRTP to align annual expenditures and revenues, and to show the level of TDA funds needed each year, which are reflected on the TDA claims submittal. Actual and projected performance data from the Commission's TransTrack data management software tables are included in the SRTP to provide metrics of service delivery. The SRTP also provides the basis for services and capital projects that are programmed into the FTIP and approved by RCTC, SCAG, and federal grant -awarding agencies like the FTA for operating and capital grants. RCTC coordinates the annual update to the SRTP through the TOWG. A schedule is prepared by RCTC to guide the process for the coming year. Draft SRTPs are due in April with formal adoption of the plans by the Commission in June. The CSTAC provides comment on the SRTPs. A follow-up debriefing meeting with the TOWG can also be held to discuss potential improvements to the SRTP for the following year. Amendments to the SRTP are made through TransTrack, which are reviewed by RCTC transit planning and either meet deviation limits or are taken to the board for approval. In addition, the operators have been updating their respective Comprehensive Operational Analyses, which take a long-range planning view, as well as updating their capital improvement plans. In implementing a prior performance audit recommendation, RCTC staff held a workshop in November 2018 to seek operator feedback on current processes and to better understand the purpose and needs that the SRTP serves for each agency. RCTC continued to seek feedback during 2019. Staff developed a revised outline and tables in FY 2021 to assist transit operators in showcasing their operating and capital planning. Four sections were developed for the SRTP: current system characteristics; system performance; future planning; and how to pay for future services over the next five years (three-year financial plan plus one- to two-year outlook). A multimodal SRTP was also developed by RCTC that includes rail and the VanClub vanpool program and entails station planning and improved rail costing. Productivity Performance Monitoring The Commission uses various methods to provide performance monitoring oversight. First, transit operators through the annual SRTP process include the following information into RCTC's TransTrack data management software: planned routes and expansions, ridership, vehicle service hours, vehicle service miles, average passenger trip length, as well as audited and planned financial needs for the upcoming fiscal year. The Commission's TransTrack data management software standardizes the regular reporting of key performance data by the operators into several tables. These tables include the transit operator's fleet inventory, service provider performance targets, SRTP performance report, SRTP service summary, SRTP route statistics, Summary of funding requests, and capital project justification forms. This transit performance Triennial Performance Audit 33 Michael Baker International RCTC monitoring system is fully functional with expanded performance and operational templates for data record keeping and performance trends. TransTrack has provided value in terms of enabling RCTC to monitor and track operator performance by route, analyze new services and service extensions, and calculate performance information with annual targets adjusted by consumer price index. The system flags indicators that are outside the target. Some operator print-outs from TransTrack showed regional performance data rather than for just their own system, implying that ongoing training may be needed to correctly use the software modules. However, on an ongoing basis, transit operators include ridership and financial information monthly and quarterly within the TransTrack data management software which provides the Commission with up-to-date trends and performance data. Second, the Commission meets with transit operators quarterly for updates on the progress of the current SRTP. Agenda topics include existing service planning updates, performance updates, marketing -fare changes updates, financial updates, capital planning/projects updates, and miscellaneous updates. In addition, the Commission utilizes the annual TDA financial and compliance audits as well as the triennial performance audits as a mechanism to provide oversight and recommendations towards performance monitoring. Lastly, the Commission also produces a Biennial -Countywide Transit Report which provides a high level picture of the public transit network in Riverside County. This report has evolved since the previous audit and previous Public Transportation Countywide Performance Report. Since 2015, the Public Transportation Countywide Performance Report has examined the performance of public transportation services of rail, bus, demand -response, and specialized transportation in the County and provides a comprehensive, countywide picture of public transit expenditures and what was provided and consumed for these investments. However, this was seen as a duplicative effort of the SRTP, quarterly meetings with transit operators, and financial and triennial performance audits. Based on comments on this report completed annually, RCTC staff looked at a more simplified report to convey the necessary information in an easy -to -read format. The FYs 2017-18 to 2019-20 Countywide Transit Report provides a high-level picture of the public transit network in Riverside County with fact sheets for five modes of transportation: commuter rail, fixed -route bus, demand response/paratransit bus, specialized transit, and vanpool. These services include nine public transit service providers and 18 community -based service operators. Key performance metrics that are highlighted include the following: • Farebox Recovery Ratio • Passenger Boardings • Operating Costs • Revenue Service Hours • Passengers Per Revenue Hour • Other indicators relevant by mode such as train service miles and subsidy per trip Triennial Performance Audit 34 Michael Baker International RCTC Additionally, the report provides highlights of major ridership trends, future strategies to meet demand, and marketing initiatives underway as the transit providers enter the recovery phase to regain ridership. Ridership and other key performance metrics were showing improvement in 2019, only to have drastic adverse impact by March 2020 from the COVID-19 pandemic and state stay-at-home orders. RCTC personnel will continue review of the performance monitoring program and its value as a tool for the operators to improve service. Increased involvement by RCTC in transit policy, planning, and practice is also being reviewed by staff in light of the current evolution of public transit service and statewide initiatives on transit performance measurement and TDA funding, as well as COVID-19 pandemic impacts on the transit industry. These ongoing efforts of dialogue, oversight and monitoring fulfill the requirement under PUC Section 99244 to monitor and provide productivity recommendations. Rail Rail develops and supports passenger rail transportation options for increased mobility within Riverside County and the region. The Rail Department directs efforts in the areas of regional commuter rail, intercity passenger rail, high speed rail, and capital improvements to support enhanced passenger and freight rail service. To expand passenger rail options throughout the County, the Commission conducts feasibility and planning studies to assess the viability of commuter rail expansion. 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. Other Commission departments, legal counsel, and consultants manage or support many of these elements. The Commission participates in the ongoing funding and governance of Metrolink through SCRRA. Unlike the other SCRRA member agencies, the Commission owns and operates the commuter rail stations serving the County: Riverside Downtown, Jurupa Valley — Pedley, Riverside — La Sierra, Corona — West, Corona — North Main, Riverside — Hunter Park/ UCR, Moreno Valley —March Field, Perris —Downtown, and Perris —South. The Riverside Downtown Operations Control Center (RDOCC), located at the west end of the Riverside Downtown station, provides monitoring of closed circuit televisions 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 maintains the layover facilities. Station operation and maintenance costs are included in the Rail Department budget with services currently coordinated by the Capital Projects Development and Delivery Department through the Facilities Administrator. Station maintenance includes property management, utilities, grounds maintenance, repairs, cleaning, and security services at the Commission -owned rail stations, including the RDOCC. As a result of the new Perris Valley Line service and increased stations, LTF funding allocations are generally used for Metrolink operating contributions and 2009 Measure A Western County rail funds are used for station maintenance. Triennial Performance Audit 35 Michael Baker International RCTC Public Transit -Human Services Transportation Coordination Plan In January 2021, RCTC finalized an update to its Coordinated Public Transit -Human Services Transportation Plan for Riverside County. This document is the result of an almost year -long public involvement process and outreach to stakeholders across the county. These plans are intended to promote mobility by identifying needs and transportation service gaps of five targeted populations: older adults, persons with disabilities, persons of limited income, persons with limited English proficiency, and military veterans. The Coordinated Plan does not provide for funding, but helps to guide funding decisions, specifically those related to the FTA Section 5310 Enhanced Mobility for Seniors and Individuals with Disabilities Program and other federal and state funding sources as they become available. Seven "mobility need themes" were identified regarding network gaps and areas of unmet transit needs. These need themes are addressed through four mobility goals and 20 accompanying strategies to improve mobility to the target groups. The mobility goals are: • Build a more responsive, sustainable public transit network. • Strengthen specialized transportation options. • Equitably distribute transportation resources. • Grow public transportation awareness to rebuild ridership. Riverside County Long -Range Transportation Study The Commission worked on the development of a countywide transportation plan. RCTC conducted a strategic assessment in 2015 to ascertain upcoming transportation priorities and the Commission's ability to address them. The Riverside County Strategic Assessment, completed in 2016, identified $23.4 billion in capital project costs for all projects, as well as project funding gaps. The strategic assessment provided the basis for the Long -Range Transportation Study (LRTS), which was released in December 2019. A major component of the LRTS is the identification and evaluation of highway, major roadway, and transit projects. The LRTS is driven by RCTC's four core goals and underlying objectives for the people of Riverside County and the transportation system upon which they rely. These policy goals are: • Quality of Life: RCTC is focused on improving life for the people of Riverside County and empowering them to live life at their pace. • Operational Excellence: RCTC is a responsible and conservative steward of taxpayer dollars. • Connecting the Economy: RCTC is a driver of economic growth in Riverside County. Triennial Performance Audit 36 Michael Baker International RCTC • Responsible Partner: RCTC partners with local, regional, and state governments to deliver road and transit projects. A total of 130 state highway and major roadway projects and 57 major local and regional transit projects were identified for inclusion in the LRTS due to their size and/or level of regional significance. While transit was part of the study, what remains to be developed, according to RCTC staff, is a long-term vision for transit integration with transportation infrastructure and an associated long-term transit financial plan. For example, bus rapid transit implementation typically benefits from traffic signal synchronization along the route and a dedicated bus lane with ease of passenger access in longer -term transportation planning of key corridors. These infrastructure components need to be planned and programmed by RCTC in coordination with local jurisdictions that have land use control and can make right-of-way decisions. Commuter Assistance Program The focus of the Commuter Assistance Program is to improve mobility throughout the transportation system. While much of the Commission's work focuses on enhancing transportation infrastructure, there is significant value in ensuring that the transportation systems are used efficiently. To foster a more efficient use of infrastructure investments and transit networks, the Commission's Commuter Assistance Program, funded by Measure A, seeks to increase the awareness of and consideration for alternative modes of transportation such as riding a bus or train, carpooling, vanpooling, walking, bicycling, or telecommuting. This transportation demand management strategy, implemented under the "IE Commuter" (www.iecommuter.org) umbrella in partnership with San Bernardino County Transportation Authority, provides services and incentives to 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 fair and rideshare events, and social media to increase the awareness for transportation alternatives; • Partner with and serve as a resource to employers to implement transportation demand management programs, services, and incentives to increase consideration and adoption of transportation alternatives at worksites throughout the region; • Provide both online access (IECommuter.org) and personal support (866-RIDESHARE) to customize commute information and ridematching services; • Incentivize commuters for beginning and/or maintaining an alternative commute mode; and • Leverage technology to deliver easy -to -use online resources and tools to efficiently engage, educate, and serve employer partners, their employees, and other commuters. Triennial Performance Audit 37 Michael Baker International RCTC Incentives in the form of gift cards are provided to eligible rideshare participants. The commuter must rideshare to work at least five days a month for three consecutive months and log trips with IE Commuter. In 2019, RCTC approved Agreement No. 19-45-080-00 with the San Bernardino County Transportation Authority (SBCTA) for a three-year term to reimburse the Commission in an amount not to exceed $4.5 million for commuter/employer rideshare (IE Commuter) and Inland Empire 511 programs administered by the Commission, on behalf of both agencies, and for the Commission to reimburse SBCTA an amount not to exceed $350,000, for SBCTA's provision of rideshare and vanpool program web -based software, as part of an ongoing bi-county partnership. The move to a new rideshare/vanpool platform provisioned by SBCTA paved the way for a regional database integration with Los Angeles, Orange, and Ventura Counties which operate on the same platform. This regional integration targeted for fall 2022 will enhance support to inter - county commuters, broaden the base of users, and improve ridematching potential for all commuter accounts. To provide facilities to support vanpool, carpool, and transit modes, RCTC partners with Caltrans and property owners to lease space for Park & Ride lots. These Park & Ride lease arrangements supplement large state-owned Park & Ride facilities throughout the county. The leases are annual and renewable, allowing for adjustments as needed. RCTC provides the financial resources for the lease while Caltrans insures the facility and provides the signage. VanClub In May 2018, RCTC launched a new vanpool program, VanClub, to help supplement the transit network and expand commuter transportation options in western Riverside County. VanClub provides eligible vanpools with up to $400 monthly subsidy toward the cost of the vanpool lease, which includes vehicle maintenance, roadside assistance, and insurance. Participating vanpools are required to report performance data and out of pocket expenses pursuant to a FTA reporting requirement. The VanClub program is funded through Measure A and a Mobile Source Air Pollution Reduction Review Committee (AB 2766) grant from the South Coast Air Quality Management District. The program began utilizing federal CARES funding via FTA 5307 starting in January 2020, and is subject to NTD reporting as purchased transportation and FTA triennial reviews for compliance with federal regulations. VanClub also began submitting the State Controller Office Transit Operator report in FY 2019-20. The vanpool program subsidizes vanpools from the following RCTC approved 3rd party leasing vendors: AVR Vanpool, the California Vanpool Authority, and Commute with Enterprise. The VanClub is marketed on the regional IE Commuter website; however RCTC's separate front -facing website, VanClub.net, uses TripSpark as the underlying software product powering the application process, reporting, and database maintenance system. Starting in March 2020, in only the second full fiscal year of the program, nearly 47 percent of Triennial Performance Audit 38 Michael Baker International RCTC active vanpools either disbanded or parked their vanpool vehicles due to COVID-19 stay-at-home orders. During this time, the VanClub discontinued subsidies for parked or non -operational vanpools and temporarily relaxed the minimum program requirements to continue subsidy support for the remaining active vanpools. Active vanpool participation continues to grow following the lowest point in the pandemic. The VanClub is helping promote growth post - pandemic and drive performance through its application and database system, and new subsidies and incentives (i.e. $5/Day Rideshare Incentives) launched in April 2022. TDA Claimant Relationships and Oversight This functional area addresses RCTC's interaction with the transit operators in Riverside County and its administration of the provisions of the TDA. The sub -functions described include costs to administer the program, technical and managerial assistance to operators, TDA claims processing, and the unmet transit needs process. RCTC Administration and Planning The uses of LTF revenues apportioned to Riverside County flow through a priority process prescribed in state law. Prior to apportionment of funds to the Bicycle and Pedestrian Facilities Program and the transit operators, the Commission is able to claim LTF revenues for administration of the fund and for transportation planning and programming purposes. By law, the Commission is limited by up to 3 percent of LTF for planning and programming. The limit does not apply to fund administration, but RCTC has been responsible in the amount it claims, which has remained the same for the triennial period. The Commission also allocates revenues to SCAG for planning purposes as a member of the regional agency. The amount is based on a formula of 0.75 of 1 percent of the County's total annual LTF. Mid -year adjustments are made from original projections to better reflect revenue receipts from the economy in the Inland Empire region. During the audit years of 2019 through 2021, RCTC claimed the following amounts: Table IV -2 LTF Allocated for RCTC Administration and Planning Fiscal Year LTF (1) Administration and Planning & Programming (2) Percentage of LTF 2019 $105,937,890 $5,250,405 5.0% 2020 $101,451,464 $2,507,188 2.5% 2021 $123,158,222 $3,543,506 2.9% Triennial Performance Audit RCTC 39 Michael Baker International Source: RCTC Comprehensive Annual Financial Reports for FYs 2019-2021. LTF amounts from Schedule of Revenues, Expenditures and Changes in Fund Balance, Budget and Actual - Major Special Revenue Funds. (1) Actual tax revenue plus interest income. (2) As indicated in the Financial Analysis of the Commission's Funds section of the annual RCTC CAFR. Increased LTF revenues in FY 2019 compared to the prior year were related to the California Department of Tax and Fee Administration (CDTFA) backlog resolution. In FYs 2019, the total amount claimed by RCTC for planning and programming was about 5.0 percent of LTF revenue. In FYs 2020 and 2021, the amounts decreased to 2.5 percent and 2.9 percent, respectively. Technical and Managerial Assistance to Operators RCTC provides an array of administrative and technical services to the operators. Assistance to the operators is offered through meetings, phone and email correspondence, and site visits. Examples of technical and managerial assistance include meetings to prepare the SRTPs as well as discuss policy and technical issues quarterly. Other examples include one-on-one meetings with the operators, release of TDA apportionment data, allocation of local Measure A funds, federal revenue estimates, monitoring of various funding programs, and administration of TDA claims. The Commission also holds calls for projects to disburse federal transit funds for specialized transportation services. An existing LTF reserve policy and funding disbursement policy are in place to ensure that operator budgets do not exceed available funds. The reserve policy sets aside 10 percent of apportionments to transit operators (bus and rail) that could be drawn down pending approval of a request by an operator and a budget and SRTP amendment. The policy also provides a funding disbursement timeline for the LTF allocation where two -twelfths (16.67 percent) of the operating funds are disbursed the first month and the remaining allocation (83.33 percent) is disbursed over the next 11 months. RCTC implements a TDA funding formula for Western Riverside County bus and commuter rail service. Since 1995, the Commission has used a formula for distributing LTF between bus and rail operations in Western Riverside County. The original 80 percent public bus and 20 percent commuter rail funding formula was adopted based on projections that the funds would be enough to fund up to a certain level of rail service. The formula was revised to be 78 percent public bus and 22 percent commuter rail funding in FY 2004-05, where it has remained ever since. This formula also applies to the LTF reserves. The Western County bus operators are guaranteed a minimum funding base which was established by the FY 2003-04 LTF/STA apportionment and upwardly adjusted annually by the Consumer Price Index. The policy is to revisit the funding formula every six years, which has not regularly been observed. As described in the prior performance audit section, staff is currently monitoring the current economic conditions to determine the appropriate time to revisit the TDA formula for Western Triennial Performance Audit 40 Michael Baker International RCTC Riverside County bus and commuter rail service. The COVID-19 pandemic, federal stimulus funds, and the subsequent changes in transit service have changed the funding landscape for Riverside County operators. Efforts to address the funding formula were temporarily placed on hold. To ensure efficient use of existing capital funds, the Commission has policies requiring operators to spend down existing TDA capital balances prior to requesting additional TDA capital funds. For the public transit operators to claim LTF and/or STA funds, the Commission must allocate funds to support the transit services and capital projects contained in the SRTPs. The requested allocations are consistent with the approved SRTPs, and the funds are explicitly for the projects stated in the approved plans. In addition to state transit grants, Commission staff also provide assistance in the planning and programming of federal grants, as the transit operators are eligible for various FTA grant programs. RCTC is the conduit between the operators and SCAG in procuring certain capital grants such as FTA urbanized grants that must pass through SCAG, as the designated recipient of the funds. The Commission must develop and approve a Program of Projects for each urbanized area and adhere to public hearing requirements prior to an operator submitting its Section 5307 grant application to the FTA.6 A separate Program of Projects is developed for rural Section 5311 funds. Projects must be included in an approved FTIP before the operators can access federal transit funds, which include Sections 5337 and 5339 discretionary funds. RCTC tracks the status of capital grants through the quarterly grant tracking program in which each operator submits a quarterly report detailing the status of existing open grants. TDA Claims Processing On an annual basis during this audit period, RCTC was responsible for managing the apportionment of $78.8 million (FY 2019), $81.4 million (FY 2020), and $68.7 million (FY 2021) in LTF revenues for transit, and $17.6 million (FY 2019), $24.5 million (FY 2020) and $13.6 million (FY 2021) in STA funds.' Initial claims are generally submitted in July of the year of the claim. Revised claims are submitted throughout the remainder of the fiscal year as funding amounts or spending priorities change. RCTC prepares and distributes several documents during the TDA claims process. The documents include the findings of apportionment by population area and a packet providing claimants with the necessary forms and funding information needed to prepare TDA claims. The claims are prepared by each operator, adopted by the operator's governing board or council, and must include a sign -off on the implementation of a number of TDA requirements. These requirements 'In the 2018 MOU with SCAG, RCTC relies on SCAG to perform the public hearing when it updates an FTIP and has a public involvement process when it receives a formal amendment. This is for all federal funds but also due to the FTA POP requirements. Typically, each operator conducts a supplemental public hearing when they adopt their budget/SRTP. RCTC's budget includes a public hearing but RCTC does not provide a supplemental public hearing for pass through FTA funds with the exception of 5310. ' RCTC annual revenue estimates for transit operators. Triennial Performance Audit 41 Michael Baker International RCTC are contained in the "Standards Assurances For Applicants" and include compliance with revenue ratios, attachment of specific documentation, and submittal of compliance audits and reports. Each submitting claimant certifies that all conformance requirements are satisfied to receive both LTF and STA funds. Once the claims are processed and funds are allocated by RCTC, operators can amend claims during the fiscal year as actual transit service is delivered. RCTC has transitioned the claims into TransTrack to streamline the process, given that inputs to the claims and SRTPs such as financial and performance data are already entered in that data system. STA funds are claimed under the procedures and formulas established in the TDA statute. RCTC is required to make annual findings prior to allocation of STA funds to the transit operators. These findings are part of the Standard Assurances checklist and are integrated with the claims for LTF revenues. Although RCTC has not developed an in-house TDA guidance document that describes all applicable TDA rules and regulations pertaining to claimants in Riverside County, the Commission adopted Resolution No. 21-011 in June 2021 which modified its STA guidelines to include additional information regarding the sliding scale metrics outlined in SB 508. How TDA is administered and RCTC's interpretation of the statutory language from recent TDA legislation warrant a continued need for a comprehensive in-house guidance workbook as a central repository of all materials and processes related to the TDA. In May 2022, RCTC developed a scope of work and released a request for proposals to develop a comprehensive Transit Funding Handbook. Unmet Transit Needs While no TDA funding has been allocated by the Commission for streets and roads in more than a decade, the Commission must still conduct at least one transit public hearing within its jurisdiction in compliance with PUC Section 99238.5. The annual public hearing was advertised by transit operators, specialized transit providers, and other stakeholders on buses, facilities, and social media. A flyer was developed that invites the community to comment and offers methods to provide input. Staff also published a 30 -day hearing notice in The Press -Enterprise, The Desert Sun, and The Palo Verde Times. The following methods were made available to the public to submit comments via oral or written testimony: 1) Email at info@rctc.org. 2) Postal mail to: Riverside County Transportation Commission Attn: Transit Needs Public Hearing Comments P. O. Box 12008, Riverside, CA 92502-2208 3) Via the website at www.rctc.org/ contact- us/ 4) By phone at (951) 787-7141 Triennial Performance Audit 42 Michael Baker International RCTC 5) In -person via video/ teleconference at the Citizens and Specialized Transit Advisory Committee meeting The newly formed CSTAC participates on the hearing panel during the meeting and in the review of the comments. While not as formal as the unmet transit needs process, the purpose of the hearing is to receive comments from the public on whether there are reasonable transit needs that are not being met in Riverside County. The public hearing is generally held as part of the committee meeting and were held on the following dates during the audit period: July 9, 2019, December 7, 2020, and August 9, 2021. Comments received from the public hearing are turned over to the operators to address, as supported by RCTC. While a full unmet transit needs process and evaluation are not required for RCTC, as a best practice, past and current public hearing comments can be compartmentalized and documented by type such as operational, capital, and/or customer service oriented, and prioritized for implementation in coordination with the transit operators. As an information item, the appendix to this audit includes a sample from another RTPA of unmet transit needs prioritization from past public hearings. Public Information and External Affairs RCTC has developed a comprehensive outreach effort to elicit support for its mission and to educate the public of its role in the delivery and maintenance of transportation infrastructure. The outreach program supports several roles at the agency, including legislative affairs and media relations. The External Affairs Department manages two core functions: legislative affairs and public affairs. These are public -facing functions with high impact on how citizens, stakeholders, and decisionmakers interact with the Commission. External Affairs is tasked with communicating with the state and federal legislative staff and delegations, responding to constituent inquiries, researching pending legislation, identifying and pursuing grant opportunities, and partnering with peer agencies such as the SBCTA. Duties include the following: • Develop effective partnerships with transportation providers to communicate a unified message to Congress regarding mobility needs. • Advocate on behalf of Riverside County's interests regarding the implementation of SB 743. • 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. Triennial Performance Audit 43 Michael Baker International RCTC • Utilize modern technology to support a robust public communication and engagement effort focusing on accessible and transparent communication of the Commission's projects. • Develop marketing and communication plans for the RCTC 91 Express Lanes and the 15 Express Lanes. The legislative affairs efforts involve the utilization of lobbyists to ensure that adequate funding is maintained for transportation projects. As part of its mission in providing transportation projects services to Riverside County, RCTC plays an active role in Washington D.C. and Sacramento in advocating transportation -friendly policies. At the beginning of every year, the Commission adopts a Federal and a State Legislative Program that sets forth basic positions on transportation policy issues. RCTC also works with the SBCTA to establish a unified front in advocating for transportation legislation on behalf of the entire Inland Empire. However, it is noted that the two counties differentiate from one another on other fronts when appropriate, such as for local needs. Adjustments are made to the legislative platform to include equitable access to transportation in rural areas, and further emphasis on equity in the planning, programming, and implementation of transportation projects. RCTC's media relations efforts are conveyed through RCTC's website, publications, and public presentations. The Point is RCTC's electronic newsletter and blog, a monthly email newsletter that covers major transportation news for the county. From construction status to highway improvement projects to funding updates, The Point highlights the actions of the Commission and emerging topics. RCTC's website (https://www.rctc.org/) serves as the primary portal to agency activities. The website's masthead contains a dropdown menu to meetings and agendas, projects, business opportunities, funding and planning, travel information, search feature, and social media links. The website also contains information about major programs and projects and recent posts from The Point blog and newsletter. The main website contains links that provide further details on projects. For example, the Projects section lists each highway and rail project and links to more information about each project. In addition, several major construction projects have an additional link to their own separate project websites, such as for corridor improvements, express lanes, interchanges, and rail project. The separate websites are still managed by RCTC but have their own respective format and design and can be updated by each manager. The Commission provides information to the public through various channels including: 1) participation at public meetings, chambers of commerce, industry associations, and service clubs; 2) production and provision of resource materials and fact sheets; 3) maintenance and enhancement of the Commission's website; and 4) development of press releases, radio and television interviews, cable television spots, and project videos. Publications continue to be provided on its website in a printable format. Triennial Performance Audit 44 Michael Baker International RCTC External Affairs supports community access to Commission activities and has control and presence over four social media platforms: Facebook, lnstagram, Twitter, and YouTube. Metrics for website and social media usage are tracked for determining proper resource distribution of information and communications. A community engagement manager was recently hired to serve as a liaison between RCTC and community -based organizations to build coalitions and strong relations around specific projects being implemented. This position helps provide a continual presence for the agency and to be proactive with outreach. Metrics are collected and displayed through infographics for public engagement. Since 2018, External Affairs staff monitor public engagement activities in a manner and with new tools to prepare Quarterly Public Engagement Metrics Reports. The quarterly report is a data -driven approach to measure progress toward public engagement goals, allow staff to assess the effectiveness of its efforts on an ongoing basis, and provide transparency into how the Commission uses its resources to engage and educate the public. The quarterly report continues to evolve as staff refine approaches to measuring public engagement activities and in response to any feedback from Commissioners. The quarterly report includes different sets of data: • Metrics for RCTC's overall public engagement activities, including website use and access; website top pages visited; email notifications; social media likes, engagement and reach; and public sentiment. • Metrics for major construction projects such as RCTC's 1-15 Express Lanes Project and State Route 60 Truck Lanes Project. Public engagement activities, including email activity, website sessions, and social media, are tracked. • Metrics for RCTC's #RebootMyCommute public engagement program, which launched on March 6, 2019. Grant Applications and Management RCTC uses a variety of local, state, and federal funding sources. The Commission, as needed, assists Riverside County transit operators and local jurisdictions with grant pursuits. In addition to LTF and STA funding, RCTC administers other state funding, including Low Carbon Transit Operations Program and State of Good Repair funds. RCTC assists with competitive state grants such as the Caltrans Sustainable Transportation Planning grants for transit -oriented development planning, and partners with the transit operators such as Riverside Transit Agency and Palo Verde Valley Transit Agency to compete for Clean California grants for transit station enhancements. Local revenues for transit include Measure A. RCTC is responsible for programming the federal funding that public transit operators receive and for providing oversight on regulatory compliance. Project funds for regional transit projects are contained in the FTIP programmed by RCTC. Federal funding sources during the audit period Triennial Performance Audit 45 Michael Baker International RCTC include FTA Sections 5307 urbanized area formula grants (inclusive of CARES Act funding), 5310 enhance mobility of seniors and persons with disabilities, 5311 formula grants for rural areas, 5337 state of good repair, and 5339 funding to construct bus -related facilities, and replace buses and related equipment. The public transit operators that receive federal transit funding, including FTA Sections 5307 and 5311, directly manage their federal grants, with the exception that RCTC has administrative and operational responsibility for rail funding allocated to Riverside County. The SRTPs approved by RCTC contain operating and capital plans and accompanying budget with cost estimates along with an implementation timeline. RCTC receives revenue projections of various funds to support the SRTP projects and prepares a summary of each fund source for approval by the Commission. The Commission develops and approves a Program of Projects for each urbanized area and adheres to public hearing requirements prior to a transit operator submitting its FTA Section 5307 grant application to the FTA. The Program of Projects is included in an approved FTIP and subsequently forwarded to SCAG for review and processing. Prompted by the lack of adequate medical facilities in the Palo Verde Valley, RCTC—in another example of a successful partnership, this time with the City of Blythe —sought and successfully won an FTA Rides to Wellness Grant, an 18 -month pilot project operated by Palo Verde Valley Transit Agency between Blythe and Coachella Valley medical facilities 110 miles to the west including in Indio, Rancho Mirage, and Palm Springs. The service was initiated in July 2017 and has continued to operate through the audit period, with a short suspension period between March and May 2020, due to the pandemic. The service is open to the general public and interlines with SunLine Transit Agency at the Indio Transportation Center located at SR 111 and Flower. Triennial Performance Audit 46 Michael Baker International RCTC Section V Statement of Facts and Recommendations The following summarizes the findings obtained from the triennial audit covering FYs 2019 through 2021. A set of audit recommendations is then provided. Statement of Facts 1. RCTC has satisfactorily complied with all state legislative mandates for regional transportation planning agencies. Management continues to be firmly committed to the intent of the Commission's enabling legislation that called for a relatively small staff to carry out its growing responsibilities in planning, programming, and project delivery. 2. The TDA mandate for RCTC to analyze and recommend potential productivity improvements for the transit operators is accomplished through review and approval of SRTPs for each operator, and utilizing the Triennial Performance Audit recommendations. 3. RCTC has fully implemented two prior performance audit recommendations regarding the clarification of operator eligibility to use State Transit Assistance funds for operations and the review of the purpose of Short Range Transit Plan (SRTP) updates. The prior recommendations pertaining to transit operators' submissions of separate bus and specialized paratransit services reports to the State Controller annually and the development of a transit funding manual regarding TDA administration have been partially implemented and are being carried forward for full implementation. The prior recommendation pertaining to revisiting the TDA funding formula for Western Riverside County bus and commuter rail service has not been implemented due to a number of factors, such as the impacts to transit from the COVID-19 pandemic and a changed funding landscape, and is being carried forward for implementation. 4. Despite increased responsibility placed upon the agency, RCTC continues to maintain a relatively small but growing staff to manage the agency's programs. Actual full-time equivalent employees (FTEs) grew from 46 in FY 2019 to 50 in FY 2020, then to 63 FTEs in FY 2021. Growth in employees during the time period includes the RCA staff starting in January 2021. Of note during the latter part of the audit period was the retirement of the chief financial officer, as well as other key staff. 5. RCTC's ability to budget for revenues and expenses was uncertain once the COVID-19 pandemic hit in March 2020 and stay-at-home orders were issued. Since the magnitude and duration of these impacts were uncertain, the Commission continuously monitored, assessed, and adjusted the revised revenue projections and budgeted expenditures as necessary through the economic recovery from the crisis. Under Executive Management's leadership, it was critical for the Commission to proactively manage and assess the economic Triennial Performance Audit 47 Michael Baker International RCTC consequences of COVID-19 and implement risk management strategies to minimize impacts to programs, projects, and personnel. 6. The agency is committed to maintaining a strong electronic records management system that provides storage and accessibility of the Commission's actions and documents, and the retention capability for incoming and internally created records. Staff migrated to Laserfiche electronic records storage and management, which provides a more organized structure while backing up data regularly. 7. Starting in FY 2020-21, RCTC initiated bi-monthly roundtable meetings with the TOWG to discuss transit policy issues, informational sharing, and updates. In addition, RCTC is taking a greater leadership role in the rollout of zero emission vehicles regionally in coordinating with and supporting the transit operators, in particular with the smaller operators. 8. RCTC staff held a workshop in November 2018 to seek operator feedback on current processes and to better understand the purpose and needs that the SRTP serves for each agency. RCTC continued to seek feedback during 2019. Staff developed a revised outline and tables in FY 2021 to assist transit operators in showcasing their operating and capital planning. Four sections were developed for the SRTP. A multimodal SRTP was also developed by RCTC that includes rail and the VanClub vanpool program and entails station planning and improved rail costing. 9. A Biennial -Countywide Transit Report provides a high level picture of the public transit network in Riverside County. This report has evolved since the previous audit and previous Public Transportation Countywide Performance Report. However, previous reporting was seen as a duplicative effort of the SRTP, quarterly meetings with transit operators, and financial and triennial performance audits. Based on comments on this report completed annually, RCTC staff looked at a more simplified report to convey the necessary information in an easy -to -read format. 10. To help supplement the transit network and expand commuter transportation options, RCTC launched a new vanpool program called VanClub in May 2018. VanClub provides eligible vanpools with a monthly subsidy toward the cost of the vanpool lease. Participating vanpools are required to report performance data pursuant to a new Federal Transit Administration reporting requirement. While pandemic -related impacts greatly hindered the growth of the program in its initial years, the success of the program can be seen in the 11.3 million total miles reduced to date as well as the 4,299 tons of total emissions reduced. Triennial Performance Audit 48 Michael Baker International RCTC Triennial Audit Recommendations 1. Revisit TDA funding formula for Western Riverside County bus and commuter rail service. A carryover from prior performance audits, RCTC implements a TDA funding formula for Western Riverside County for distributing Local Transportation Funds (LTF) between bus and commuter rail service. The formula is 78 percent LTF toward public bus and 22 percent to commuter rail, which was developed in FY 2004-05 and where it has remained since. According to a board report to the Commission, staff is currently monitoring the current economic conditions to determine the appropriate time to revisit the TDA formula for Western Riverside County bus and commuter rail service. The COVID-19 pandemic, federal stimulus funds, and the subsequent changes in transit service have changed the funding landscape for Riverside County operators. In addition, services are still reduced, with many riders transitioning from commuting to working from home. Efforts to address the funding formula for Western Riverside County bus and commuter rail service were temporarily placed on hold. Rail funding and Metrolink funding plans are being reviewed by RCTC, which will affect the funding formula. RCTC staff continue to monitor economic conditions and will determine when to revisit this issue once economic conditions and ridership recovery take shape. 2. Ensure all transit operators complete and submit separate State Controller Reports for general public transit and for specialized services. A carryover from a prior performance audit that was partially implemented, one requirement for the Transit Operators Financial Transactions Report is that the transit operator prepares separate reports for general public transit and for specialized services. Several operators changed their reporting to two separate documents. Only one operator, Beaumont Transit, continues to submit one State Controller Report rather than the required split between two reports. This requirement is included in the City of Beaumont performance audit recommendation for implementation. It is recommended that the Commission continue to ensure that the operators adhere to the proper reporting procedures for the Transit Operator Financial Transactions Reports. One such action is to place a stipulation in the TDA claims form, such as in the Standard Assurances, that the operator complies with State Controller instructions for preparation of the Transit Operators Financial Transactions Report. 3. Develop an in-house TDA Administrative Guidance Manual. RTPAs such as RCTC play a critical role in administering TDA funding and meeting the spirit of the law. RCTC's administrative practices have their nuances, including the apportionment and allocation split of TDA revenue between bus and rail, the general format of the claim form, inclusion of SRTPs in the funding process, and use of performance monitoring tools such as TransTrack. Changes in TDA administration and RCTC's interpretation of the statute continuously warrant development of a comprehensive in-house manual as a repository of Triennial Performance Audit 49 Michael Baker International RCTC all localized materials and processes related to the TDA. Such a guidance document provides transparency in funding administration and also serves as a training tool for both RCTC personnel and the claimants for consistency in regional practice. RCTC staff initiated development of a scope of work for a transit funding manual, which includes policies and procedures for TDA administration. An RFP was released on May 26, 2022. Triennial Performance Audit 50 Michael Baker International RCTC Appendix A Informational Only Example Unmet Transit Needs Prioritization and Ranking (when formal unmet transit needs process under TDA statute is not required) Triennial Performance Audit 51 Michael Baker International RCTC 2021 Final Draft Unmet Paratransit and Transit Needs Prioritization of Need: H — High -priority items are those items that fill a gap or absence of ongoing of service. M — Medium -priority items that supplement existing service. L — Low -priority items should become more specific and then be planned for, as funds are available. 1-3 Graduated scale indicates to what extent the need, if addressed, would: increase the number of individuals who are within a 30 -minute transit trip to key destinations; improve safety; support economic vitality by way of decreasing transportation costs; or improve cost- effectiveness of transportation services. Strategies: Proposals and suggestions to address need, including programs and projects. General 1. H1 - Safe travel paths between senior and/or disabled living areas, medical facilities, educational facilities, employment locations, retail centers, entertainment venues, bus stops, and/or railroad crossings. • Improve accessibility at and to bus stops - such as, but not limited to, sidewalk and crosswalk improvements connecting destinations frequented by senior and disabled individuals and transit stops such as, but not limited to, those identified in the RTC Safe Paths of Travel Final Report. • Secure funding assistance to make Safe Paths of Travel improvements. • Expand publicity regarding sidewalk maintenance. 2. H1 - Transportation services to areas with high concentrations of seniors, disabled and low income individuals. • Support alternative transportation programs, such as vanpool programs, serving low income and senior housing areas outside of the transit service area in south county. • Explore pilot projects, such as regularly scheduled paratransit trips two -three times per week, to serve residents. • Secure funding for taxi voucher programs for senior and low income individuals. • Provide affordable and desirable housing for seniors and low income individuals within the existing transit service area. • Provide incentives for senior and social services and medical and social services providers to be located in existing transit service areas. Triennial Performance Audit 52 Michael Baker International RCTC • Support programs that encourage ridesharing to destinations popular with seniors or high concentrations of seniors. • Seek volunteer drivers to provide transportation services. • Evaluate on -demand transit services. 3. H3 - Transportation services for low-income families with children, including transportation for people transitioning from welfare to work. • Support welfare to work programs and training programs. • Support transportation programs dedicated to serving low-income families with children. • Seek volunteer drivers for transportation family members to visits at detention facilities. • Provide taxi vouchers to low income families. • Reinstate ride to work programs. • Provide youth bus passes to low income households 4. H1 - Transportation services for caregivers of senior and disabled clients. • Support programs providing transportation for caregivers to clients. • Provide taxi voucher to caregivers. • Reinstate ride to work programs. Paratransit/Specialized Transportation Services 1. H1 - Coordinated and seamless -to -the -public system of specialized transportation with a Mobility Management Center (central information point, one stop shop). • Assess feasibility and seek funds for development/start-up of the center, and assess entities already providing information and referral services). • Utilize information technology solutions to provide transit information that is accessible to all users. 2. H1 - Wheel chair accessible vehicles for taxis and transportation network company services • Monitor the Transportation Network Company (TNC) Access for All program. • Evaluate other comparable options to provide services (i.e. new companies, subcontract with services equipped with wheelchair vehicles). • Provide on demand paratransit service. Triennial Performance Audit 53 Michael Baker International RCTC Transit Services 1. H1— Greater frequency and span of transit service in densely populated areas with a mix of land uses. • Increase service level between downtown Santa Cruz and Capitola Mall Transit Center through the Live Oak corridor. • Enhance service on Mission Street. • Extend transit service hours later in the evening and early in the morning serving Cabrillo College and commercial centers of Santa Cruz/Live Oak/ Watsonville. • Enhance service to employment entities. • Enhance service on Scotts Valley Drive. 2. H1— Greater evening frequency and span of transit service in coverage- oriented areas, in keeping with METRO service standards. • San Lorenzo Valley Route 35 variants (Mt. Store and CountryClub) • Local Watsonville services • La Selva Beach 3. M1— More transit service to UCSC. • Increase weekend and weekday UCSC service. • Increase service to UCSC campus. • Increase service to the University of Santa Cruz employment center in Scotts Valley. 4. M1—Freeandlow-costtransportationoptions, includingfixed-route transit services. • Support programsthat providetransportation services, including, but not limited to bus services, for a reduced or no fee. • Seek volunteer drivers to provide transportation services. • Support programs that allow seniors and disabled individuals to ride free during designated time periods. 5. M2 - Faster run times on transit routes. • Investigate opportunities for transit priority lanes and signal priority. • Pursue right turn pockets for bypass lanes for buses service and transit priority on Soquel Ave/Drive and Freedom consistent with the Unified Corridor Investment Study. • Consider direct services between more locations, reducing need for transfers. Triennial Performance Audit 54 Michael Baker International RCTC ATTACHMENT 2 RCTC RIVERSIDE COUNTY TRANSPORTATION COMMISSION Triennial Performance Audit of City of Banning Transit BANNING CONNfCI TRANSIT SYSTEM' October 2022 FY 2019-2021 Submitted to: Riverside County Transportation Commission Submitted by: Michael Baker INTERNATIONAL TABLE OF CONTENTS Section I 1 Introduction 1 Overview of the Transit System 1 Section II 6 Operator Compliance Requirements 6 Section II I 12 Prior Triennial Performance Recommendations 12 Section IV 15 TDA Performance Indicators 15 Section V 24 Review of Operator Functions 24 Operations 24 Maintenance 28 Planning 29 Marketing 30 General Administration and Management 31 Section VI 33 Statement of Facts 33 Recommendations 36 Triennial Performance Audit of Banning Connect — FYs 2019-2021 Section 1 Introduction California's Transportation Development Act (TDA) requires that a triennial performance audit be conducted of public transit entities that receive TDA revenues. The performance audit serves to ensure accountability in the use of public transportation revenue per Public Utilities Code (PUC) section 99246. The Riverside County Transportation Commission (RCTC) engaged Michael Baker International to conduct the TDA triennial performance audit of the public transit operators under its jurisdiction in Riverside County. This performance audit is conducted for Banning Connect Transit covering the most recent triennial period, fiscal years 2018-2019 through 2020-2021. The purpose of the performance audit is to evaluate Banning Connect's effectiveness and efficiency in its use of TDA funds to provide public transportation in its service area. This evaluation is required as a condition for continued receipt of these funds for public transportation purposes. In addition, the audit evaluates Banning Connect's compliance with the conditions specified in the California Public Utilities Code. This task involves ascertaining whether the transit agency is meeting the code's reporting requirements. Moreover, the audit includes calculations of transit service performance indicators and a detailed review of the transit administrative functions. From the analysis that has been undertaken, a set of recommendations has been made which is intended to improve the performance of transit operations. In summary, this TDA audit affords the opportunity for an independent, constructive, and objective evaluation of the organization and its operations that otherwise might not be available. The methodology for the audit included in -person interviews with management, collection and review of agency documents, data analysis, and on -site observations. The Performance Audit Guidebook for Transit Operators and Regional Transportation Planning Entities, published by the California Department of Transportation (Caltrans) was used to guide in the development and conduct of the audit. Overview of the Transit System The City of Banning has provided public transportation service since April 1973, which expanded to two routes in September 1985. As of FY 2021, the transit system comprises four fixed -route services and a Dial -A -Ride system that is limited to seniors and persons with disabilities, including riders certified under the Americans with Disabilities Act (ADA). Banning Connect provides transfer opportunities with Riverside Transit Agency (RTA), SunLine Transit, and Beaumont Transit. RTA runs one intercity route that connects with the local transit system at a Walmart on Highland Springs Road and at Sun Lakes Village in the City of Beaumont, while intercity connection with SunLine Transit also occurs at the Walmart. Connections with Beaumont Transit can be made at the Walmart and at San Gorgonio Hospital. Michael Baker International - 1 Triennial Performance Audit of Banning Connect — FYs 2019-2021 In July 2019, the Cities of Banning and Beaumont adopted an interagency service agreement detailing specific boundaries and operating conditions for each provider through June 30, 2022. This agreement came after the discontinuation of Pass Transit, an initiative to integrate the two cities' transit services into one regional service, which started in 2002. With the termination of the Pass Transit agreement, Pass Transit branding has been phased out and Beaumont Transit Route 2 service was discontinued in the City of Banning; Banning Transit was rebranded at this time as "Banning Connect." Based on the 2020 US Census, Banning's population is 29,505, which is a 0.3 percent decrease in population since the 2010 US Census. The senior citizen population, comprising residents aged 65 and over, is 27.4 percent. The 2021 population for Banning is estimated to be 32,233 as reported by the California Department of Finance, Population Estimates for Cities, Counties, and the State, January 1, 2021. The city covers 23.1 square miles. System Characteristics Banning Connect operates both fixed -route and demand -responsive transit services. During the audit period, the fixed route schedules showed the time range of operations from Monday through Friday from 4:30 a.m. to 10:11 p.m. and weekends from 7:44 a.m. to 5:56 p.m. Dial -A - Ride service operated Monday through Friday from 9:00 a.m. to 2:30 p.m. Banning Connect does not operate on New Year's Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day, and Christmas Day. The transit system operates on a limited schedule (Route 5/6: 7:44 a.m. to 5:44 p.m.; Route 1: 8:00 a.m. to 5:56 p.m.) on Martin Luther King Jr. Day, Presidents' Day, Veterans Day, and the Friday following Thanksgiving. Banning Connect's fixed -route services during the audit period are summarized in Table 1-1. Table 1-1 Banning Connect Fixed Route Services Route Description Frequency/Operation Key Time Points Route 1 Service from Beaumont Every 60 minutes on • San Gorgonio Hospital to Cabazon via the weekdays; every 2 • Beaumont Courthouse Banning commercial hours on weekends • Outlet malls corridor along Ramsey (Monday through • Cabazon Community Street Friday from 4:30 a.m. to 10:11 p.m.; Saturday Center on Carmen • Cabazon Community & Sunday from 8:00 a.m. to 5:56 p.m.; no service on weekends from 12:30 p.m. to Center on Broadway • Casino Cabazon • Sun Lakes Village • Banning Police Dept. 1:30 p.m.) (Post Office) • Walmart • Esperanza & Elm Michael Baker International - 2 Triennial Performance Audit of Banning Connect — FYs 2019-2021 Route Description Route 5 Route 6 Route 5/6 Residential areas of Northern Banning, Indian School, Alessandro, Nicolet and Wilson Street to Walmart Shopping Center in Beaumont via downtown Banning Residential areas of Southern Banning, Hathaway and Williams Street to Walmart Shopping Center in Beaumont via downtown Banning Frequency/Operation Weekdays; approximately every 70 minutes (Monday through Friday from 5:30 a.m. to 6:49 p.m.; no service from 1:59 p.m. to 3:00 p.m.) Weekdays; approximately every 75 minutes (Monday through Friday from 6:00 a.m. to 6:32 p.m.) Weekend only; approximately every 85 minutes (Saturday and Sunday from 7:44 a.m. to 5:44 p.m.; no service from 12:30 p.m. to 1:30 p.m.) Key Time Points • Summit Ridge Apt. Indian School & Alessandro • Banning Library • Banning High School • Hemmerling School & Armory • Oregon Trail & Wilson • Beaver • Walmart • Sun Lakes Village • San Gorgonio Hospital • DMV Depart. Of Social Services • Banning Police Dept. (Post Office) • Banning High School • Smith Correctional Facility • Hathaway & Williams • 8th & Ramsey/DMV • Banning Health Care • MSJC Campus • Walmart • Sun Lakes Village • San Gorgonio Hospital • Sunset & Ramsey Rio Ranch • Banning High School • Smith Correctional Facility • Post Office • Indian School & Alessandro • Banning Library • 19th & Nicolet Armory • Oregon Train & Wilson • Walmart • Sun Lakes Village • San Gorgonio Hospital • Citibank @ Sunset & Ramsey • DMV Source: Banning Connect Michael Baker International - 3 Triennial Performance Audit of Banning Connect — FYs 2019-2021 Banning Connect honors flag stops in residential areas at the corners of the route only. In commercial areas, the bus will only stop at designated marked stops. Dial -A -Ride Dial -A -Ride offers curb -to -curb, demand -responsive transit service to persons with disabilities, the frail elderly, and senior citizens aged 60 years and older who reside one -quarter mile from any Banning Connect fixed route, or persons who are ADA certified. Priority service is given to ADA-certified passengers. Accessibility of the ADA paratransit service is within three quarters of a mile of the fixed -route service. Regular hours of operation for Dial -A -Ride are Monday through Friday from 9:00 a.m. to 2:30 p.m. Persons with ADA certification can access Dial -A -Ride by advance reservation within the City of Banning and into a small portion of the Beaumont area during expanded service days and hours. Such service operates Monday through Friday from 6:00 a.m. to 6:30 p.m., and Saturday and Sunday from 8:00 a.m. to 5:00 p.m. Reservations for service can be made as early as 21 days in advance but no later than 3:00 p.m. the day prior to the trip. Dial -A -Ride does not operate on New Year's Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day, and Christmas Day. Dial -A -Ride operates on a limited schedule for ADA- certified passengers only with a 24 -hour advance reservation on Martin Luther King Jr. Day, Presidents' Day, Veterans Day, and the day following Thanksgiving. Fares Banning Connect's fares are structured based on passenger, route, and service type. Multi -trip passes are also available for purchase. Day passes are only available for purchase from the driver while monthly passes are available for purchase at the Banning Community Center. Ticket booklets and passes do not include the $0.25 zone fare for Cabazon. The fare structures during the audit period are summarized in Table 1-2. Table 1-2 Banning Connect Fare Schedule Fare Category Fares General Public $1.15 Youth (Ages 17 and under) $1.00 Seniors (Ages 65 and Older) $0.65 Persons with Disabilities (ADA or Medicare Card) $0.65 Military Veterans (with photo ID) $0.65 Child (46" tall or under accompanied by full -fare paying adult) $0.25 Zone Charge (One way to/from Cabazon Route 1) $0.25 10 -Ticket Book —General Public $10.35 10 -Ticket Book — Seniors/Disabled/Veterans $5.85 Day Pass — General Public $3.00 Michael Baker International - 4 Triennial Performance Audit of Banning Connect — FYs 2019-2021 Fare Category Fares Day Pass — Seniors/Disabled/Veterans $1.80 Monthly Pass — General Public $36.00 Monthly Pass — Banning High School & Nicolet Middle School Student Pass $10.00 Monthly Pass — Youth $25.00 Monthly Pass — Seniors/Disabled/Veterans $21.50 Dial -A -Ride (one-way) $2.00 Dial -A -Ride 10 -Ride Pass $18.00 Source: Banning Connect Fleet There were 11 vehicles in the transit fleet during the audit period: six fixed -route and five demand -response vehicles. Vehicles operated on the fixed route are powered by compressed natural gas (CNG), whereas most vehicles operated on Dial -A -Ride are gasoline -powered. All vehicles in revenue service are wheelchair accessible with tie -downs in compliance with the ADA. Table 1-3 summarizes the Banning Connect fleet. Table 1-3 Banning Connect Fleet Year Make/Model Quantity Fuel Type Service Mode Seating Capacity 2003 Ford E-450 1 Unleaded Dial -a -Ride 12 (1 W/C) 2008 Ford Econoline 1 Unleaded Dial -a -Ride 14 (1W/C) 2010 El Dorado XHF-3 2 CNG Fixed -Route 31 (2 W/C) 2010 Ford E-450 1 Unleaded Dial -a -Ride 16 (1 W/C) 2013 Ford E-450 1 CNG Dial -a -Ride 18 (1 W/C) 2015 Ford F-550 2 CNG Fixed -Route 30 (2 W/C) 2016 El Dorado EZRM-32 1 CNG Fixed -Route 25 (2 W/C) 2017 El Dorado EZRM-32 1 CNG Fixed -Route 25 (2 W/C) 2018 Ford E-450 1 Unleaded Dial -a -Ride 16 (1 W/C) Total 11 Source: Banning Connect, TransTrack Manager Michael Baker International - 5 Triennial Performance Audit of Banning Connect — FYs 2019-2021 Section 11 Operator Compliance Requirements This section of the audit report contains the analysis of Banning Connect's ability to comply with state requirements for continued receipt of TDA funds. The evaluation uses Caltrans's Performance Audit Guidebook to assess transit operators. The guidebook contains a checklist of 11 measures taken from relevant sections of the California Public Utilities Code and the California Code of Regulations. Each of these requirements is discussed in the table below, including a description of the system's efforts to comply with the requirements. In addition, the findings from the compliance review are described in the text following the table. Table 11-1 Operator Compliance Requirements Matrix Operator Compliance Requirements Reference Compliance Efforts The transit operator has submitted annual reports to the RTPA based upon the Uniform System of Accounts and Records established by the State Controller. Report is due within seven (7) months after the end of the fiscal year (on or before January 31). The report shall contain underlying data from audited financial statements prepared in accordance with generally accepted accounting principles, if this data is available. Public Utilities Code, Section 99243 Completion/submittal dates: Fixed Route: FY 2019: January 27, 2020 FY 2020: January 28, 2021 FY 2021: January 28, 2022 Specialized Services: FY 2019: January 23, 2020 FY 2020: January 28, 2021 FY 2021: January 28, 2022 Separate Transit Operators Financial Transaction Reports for both general and specialized services were submitted. Conclusion: Complied. The operator has submitted annual fiscal and compliance audits to the RTPA and to the State Controller within 180 days following the end of the fiscal year (Dec. 27) or has received the appropriate 90- day extension by the RTPA allowed by law. Public Utilities Code, Section 99245 Completion/submittal dates: FY 2019: April 21, 2020 FY 2020: April 26, 2021 FY 2021: March 31, 2022 Banning Connect requested and was granted a 90 -day extension for the fiscal and compliance Michael Baker International - 6 Triennial Performance Audit of Banning Connect — FYs 2019-2021 Table 11-1 Operator Compliance Requirements Matrix Operator Compliance Requirements Reference Compliance Efforts audits by the RCTC as allowed by law. The FY 2019 and FY 2020 fiscal audits were submitted after the 90 -day extension period. Conclusion: Partial Compliance. The CHP has, within the 13 months prior to each TDA claim submitted by an operator, certified the operator's compliance with Vehicle Code Section 1808.1 following a CHP inspection of the operator's terminal. Public Utilities Code, Section 99251 B Banning Connect participates in the California Highway Patrol (CHP) Transit Operator Compliance Program in which the CHP has conducted inspections within the 13 months prior to each TDA claim. Inspections were conducted at the City of Banning located at 176 East Lincoln Street. Inspection dates applicable to the audit period were July 16 and 17, 2018; July 15 and 16 2019; August 5 and 6, 2020; and July 8, 2021. All inspections conducted were rated satisfactory. Conclusion: Complied. The operator's claim for TDA funds is submitted in compliance with rules and regulations adopted by the RTPA for such claims. Public Utilities Code, Section 99261 As a condition of approval, the Banning Connect's annual claims for Local Transportation Funds and State Transit Assistance are submitted in compliance with the rules and regulations adopted by RCTC. Michael Baker International - 7 Triennial Performance Audit of Banning Connect — FYs 2019-2021 Table 11-1 Operator Compliance Requirements Matrix Operator Compliance Requirements Reference Compliance Efforts Conclusion: Complied. If an operator serves urbanized and non -urbanized areas, it has maintained a ratio of fare revenues to operating costs at least equal to the ratio determined by the rules and regulations adopted by the RTPA. Public Utilities Code, Section 99270.1 This requirement is not applicable, as Banning Connect only serves a nonurbanized area. Conclusion: Not Applicable. The operator's operating budget has not increased by more than 15% over the preceding year, nor is there a substantial increase or decrease in the scope of operations or capital budget provisions for major new fixed facilities unless the operator has reasonably supported and substantiated the change(s). Public Utilities Code, Section 99266 Percentage change in Banning Connect's transit operating budget: FY 2019: +17.2% FY 2020: +10.5% FY 2021: -2.1% The increase above 15 percent in FY 2019 was substantiated in the City's budget documentation. Source: Transit Operator Financial Transactions Reports for FYs 2018-2021. Conclusion: Complied. The operator's definitions of performance measures are consistent with Public Utilities Code Section 99247, including (a) operating cost, (b) operating cost per passenger, (c) operating cost per vehicle service hour, (d) passengers per vehicle service hour, (e) passengers per vehicle service mile, Public Utilities Code, Section 99247 Banning Connect's definition of performance is consistent with Public Utilities Code Section 99247. A review of TransTrack performance data reports generated during the audit period indicates that correct performance data are being collected. Conclusion: Complied. Michael Baker International - 8 Triennial Performance Audit of Banning Connect— FYs 2019-2021 Table 11-1 Operator Compliance Requirements Matrix Operator Compliance Requirements Reference Compliance Efforts (f) total passengers, (g) transit vehicle, (h) vehicle service hours, (1) vehicle service miles, and (j) vehicle service hours per employee. If the operator serves an urbanized area, it has maintained a ratio of fare revenues to operating costs at least equal to one -fifth (20 percent), unless it is in a county with a population of less than 500,000, in which case it must maintain a ratio of fare revenues to operating costs of at least equal to three -twentieths (15 percent), if so determined by the RTPA. Public Utilities Code, Sections 99268.2, 99268.3, 99268.12, 99270.1 This requirement is not applicable, as Banning Connect only serves a nonurbanized area. Conclusion: Not Applicable. If the operator serves a rural area, or provides exclusive services to elderly and disabled persons, it has maintained a ratio of fare revenues to operating costs at least equal to one -tenth (10 percent). Public Utilities Code, Sections 99268.2, 99268.4, 99268.5 Operating ratios for Banning Connect using audited data were as follows: Audited farebox ratio accounts for local support revenue and exclusion of new or expanded service. FY 2019: 9.61% FY 2020: 4.28% FY 2021: 24.10% Banning Connect is subject to a system -wide farebox standard of 10 percent. The system did not meet the minimum farebox ratio in FY 2019 and FY 2020. Source: City of Banning Transit Michael Baker International - 9 Triennial Performance Audit of Banning Connect — FYs 2019-2021 Table 11-1 Operator Compliance Requirements Matrix Operator Compliance Requirements Reference Compliance Efforts Services Fund Financial Statements (Audited) Conclusion: Partial Compliance. The current cost of the operator's retirement system is fully funded with respect to the officers and employees of its public transportation system, or the operator is implementing a plan approved by the RTPA which will fully fund the retirement system within 40 years. Public Utilities Code, Section 99271 To be eligible for TDA funds, the annual TDA claims form requires a sign -off from the transit claimant to comply with standard assurances, one of which is that the City of Banning's retirement system is funded. City staff's retirement is funded through the California Public Employees' Retirement System. Conclusion: Complied. If the operator receives state transit assistance funds, the operator makes full use of funds available to it under the Urban Mass Transportation Act of 1964 before TDA claims are granted. California Code of Regulations, Section 6754(a)(3) As a recipient of State Transit Assistance funds, Banning Connect does not utilize federal funds available under the Urban Mass Transportation Act of 1964 as amended (other than those funds that are passed through RCTC). Conclusion: Not Applicable. Michael Baker International - 10 Triennial Performance Audit of Banning Connect — FYs 2019-2021 Findings and Observations from Operator Compliance Requirements Matrix 1. Of the compliance requirements pertaining to Banning Connect, the operator fully complied with six out of the eight applicable requirements. Banning Connect was in partial compliance with regard to the timely completion and submittal of its annual fiscal and compliance audits and farebox recovery attainment. Three additional compliance requirements did not apply to the operator (intermediate and urban farebox recovery ratio and the use of federal funds). 2. Based on the farebox calculation in the annual Transit Services Fund Financial Statements (audited), Banning's farebox recovery ratio met or exceeded the required minimum standard of 10 percent in one of the three audit years. The system -wide farebox recovery ratios were 9.61 percent in FY 2019, 4.28 percent in FY 2020, and 24.10 percent in FY 2021.1 It is noted that the audited farebox ratio in FY 2020 was adversely impacted from the COVID-19 pandemic and state shelter -in -place order as well as the suspension of fare collection. Banning Connect utilized an allowable combination of additional local support revenues in order to meet minimum farebox recovery attainment in FY 2021. 3. Banning Connect participates in the CHP Transit Operator Compliance Program in which the CHP conducted inspections within the 13 months prior to each TDA claim. The CHP inspection reports submitted for review were found to be satisfactory. 4. The annual operating budget increased above 15 percent in FY 2019 and exhibited fluctuations in subsequent years. Banning saw increases of 17.2 percent and 10.5 percent, respectively, during FY 2019 and FY 2020. The budget exhibited a slight decrease of 2.1 percent in FY 2021. The FY 2019 budgetary increase is attributed to higher salaries and fringe benefits, fuel, tires, casualty, and liability insurance costs. 1 Assembly Bill 90, passed into law and signed by the governor in June 2020 in response to the COVID-19 pandemic impacts, prohibits the imposition of penalties on a transit operator that does not maintain the required ratio of fare revenues to operating cost during the FY 2019-20 or FY 2020-21. Michael Baker International - 11 Triennial Performance Audit of Banning Connect — FYs 2019-2021 Section 111 Prior Triennial Performance Recommendations Banning Connect's efforts to implement the recommendations made in the FY 2016-2018 triennial performance audit are examined in this section of the report. For this purpose, each prior recommendation for the agency is described, followed by a discussion of Banning Connect's efforts to implement the recommendation. Conclusions concerning the extent to which the recommendations have been adopted by the agency are then presented. Prior Recommendation 1 Ensure timely completion and submittal of external TDA financial reports. Background: The prior audit noted that Banning Connect was not in compliance with the timely completion and submittal of its annual Transit Operator Financial Transactions Reports to the State Controller as well as of its fiscal and compliance audits. These late submittals may be attributed to the financial closeout procedures needed to generate the financial information required in the Controller's report. This in turn impacted the timely submittal of its fiscal and compliance audits, which cannot be completed until the financial closeout by the City. The TDA statute provides the submittal timelines and allowable extensions granted by the RCTC. Although City financial closeout procedures were not within the scope of the performance audit, it was suggested that a schedule be coordinated between the City's Finance Department, TDA fiscal auditor, and RCTC to anticipate financial closeout procedures and timelines by the City and completion of the external TDA financial reports. The financial closeout triggers the undertaking of the TDA financial reports, and close tracking of the timeliness of the closeout could advance some aspects and earlier preparation of the TDA reports. Actions taken by Banning Connect During the audit period, Banning Connect has taken steps to ensure the timely completion and submittal of its Transit Operator Financial Transactions Reports to the State Controller pursuant to the TDA statute. Report submittals to the State Controller during the audit period were within the statutory time frame. In addition, Banning Connect implemented procedures that involved the separate preparation and submittal of Transit Operators Financial Transaction Reports for both general and specialized services. However, the operator continued to have issues involving late submittals of the annual fiscal and compliance audits. Banning Connect requested and was granted a 90 -day extension for the fiscal and compliance audits by the RCTC as allowed by law during the audit period. However, the FY 2019 and FY 2020 fiscal audits were submitted after the 90 -day extension period. In light of this, it is suggested that the City's Finance Department continue to work with the auditor and RCTC to improve its financial closeout procedures to ensure more timely completion of the audits. Michael Baker International - 12 Triennial Performance Audit of Banning Connect — FYs 2019-2021 Conclusion This recommendation has been partially implemented and is carried forward for full implementation. Prior Recommendation 2 Continue to pursue a reimbursement agreement from the RTA and Mt. San Jacinto College for Go -Pass riders. Background: This recommendation was carried forward from the prior audit for implementation. Banning Connect serves the San Gorgonio Pass Campus of Mt. San Jacinto College. Students are assessed a $6.00 transportation fee when they enroll at the college, which allows for unlimited transit rides on any RTA bus as part of the Go -Pass program. Students participating in the Go - Pass program may use the Banning Connect system at no additional charge with a "Pass Transit" sticker on the card. Currently, Banning Connect does not receive any of the revenues generated from this program. Given the concerns cited in the prior recommendation about farebox recovery attainment, it was suggested that Banning Connect work with the RTA and Mt. San Jacinto College on a reimbursement agreement whereby Banning Connect receives a share of the revenues generated from this program. Actions taken by Banning Connect In response to this recommendation, Banning Connect took steps to reach a fare revenue reimbursement agreement with Mt. San Jacinto College. In the meantime, Banning Connect has continued to honor RTA's Go -Pass without an agreement in place. Under the Go -Pass program, Mt. San Jacinto College students get unlimited rides on RTA buses. Banning Connect was anticipating that the Mt. San Jacinto College student body would vote on the separate fare revenue agreement in early 2018; however, the vote never materialized. The parties were not able to come to an agreement due to a lack of interest on the part of the college and RTA. Conclusion This recommendation has not been implemented and is no longer applicable due to the inability to secure a fare revenue agreement. Prior Recommendation 3 Include a link to Beaumont Transit on the Banning Connect web page. Background: This recommendation is being carried forward from the prior audit for implementation. Banning Connect's website and transit page were updated during the audit period. While there are links to RTA's and SunLine Transit Agency's websites concerning Michael Baker International - 13 Triennial Performance Audit of Banning Connect — FYs 2019-2021 Commuter Link Route 220 and RTA Routes 31 and 35, there are no links to the Beaumont Transit website. The memorandum of understanding (MOU) or cooperative services agreement between the Cities of Banning and Beaumont that has been in effect since December 2002 was terminated after the audit period and involved phasing out the Pass Transit brand and the removal of Beaumont Transit Route 2 from operating within the City of Banning. In its place, an interagency service agreement between the two cities was adopted in July 2019 and provides continued cooperation of both cities in "providing the public with specific transit information, advertising the operations of both agencies and promoting the general use of transit." Pursuant to the interagency service agreement with the City of Beaumont, it was recommended that Banning include a link to Beaumont Transit on its transit page. Actions taken by Banning Connect Banning Connect added a "Regional Service Providers" web page that is accessible through the main transit page of the website. This web page lists Beaumont Transit, RTA, SunLine, Omnitrans, Metrolink, and 1E511 as regional agencies along with the service areas they cover and links to each agency's website. Conclusion This recommendation has been implemented. Michael Baker International - 14 Triennial Performance Audit of Banning Connect — FYs 2019-2021 Section IV TDA Performance Indicators This section reviews Banning Connect's performance in providing transit service to the community in an efficient and effective manner. The TDA requires that at least five specific performance indicators be reported, which are contained in the following tables. Farebox recovery ratio is not one of the five specific indicators but is a requirement for continued TDA funding. Therefore, farebox calculation is also included. Two additional performance indicators that gauge service effectiveness and revenue, operating cost per mile and average fare per passenger, are included as well. Findings from the analysis are contained in the section following the tables. Tables IV -1 through IV -3 provide the performance indicators for Banning Connect system -wide, fixed route, and Dial -A -Ride. Graphs are also provided to depict the trends in the indicators. It is noted that the system -wide operating costs and fare revenues are based on audited figures, while fixed route and Dial -A -Ride costs and fare revenues are unaudited. The annual fiscal audits do not provide a modal breakdown. Michael Baker International - 15 Triennial Performance Audit of Banning Connect - FYs 2019-2021 Table IV -1 Banning Connect TDA Performance Indicators System -wide Audit Period Performance Data and Indicators FY 2018 FY 2019 FY 2020 FY 2021 % Change FY 2018-2021 Operating Cost (less depreciation)(�) $1,626,239 $1,989,651 $2,148,508 $2,060,262 26.7% Total Passengers 126,793 116,748 112,960 87,388 -31.1% Vehicle Service Hours 22,018 14,189 19,467 13,811 -37.3% Vehicle Service Miles 798,183 393,143 441,497 438,887 -45.0% Employee FTEs 15 14 17 18 20.0% Total Passenger Fares $117,872 $111,068 $91,376 $2,096 -98.2% Other Fare Revenue Contributions $49,848 $80,115 $610 $494,456 891.9% Total Fare Revenue $167,720 $191,183 $91,986 $496,552 196.1% Operating Cost per Passenger $12.83 $17.04 $19.02 $23.58 83.8% Operating Cost per Vehicle Service Hour $73.86 $140.22 $110.37 $149.18 102.0% Operating Cost per Vehicle Service Mile $2.04 $5.06 $4.87 $4.69 130.4% Passengers per Vehicle Service Hour 5.8 8.2 5.8 6.3 9.9% Passengers per Vehicle Service Mile 0.16 0.30 0.26 0.20 25.3% Vehicle Service Hours per Employee 1,467.9 1,013.5 1,145.1 767.3 -47.7% Average Fare per Passenger $0.93 $0.95 $0.81 $0.02 -97.4% Farebox Recovery Ratio (passenger fares only) 7.25% 5.58% 4.25% 0.10% -98.6% Adjusted Farebox Recovery Ratio(2) 10.31% 9.61% 4.28% 24.10% 133.7% Consumer Price Index - (CPI-AII)i3i 3.5% 3.4% 2.5% 2.0% 8.1% Source: City of Banning Transit Services Fund Financial Statements audited); Transit Operators Financial Transactions Reports (1) System -wide operating costs are as shown in Basic Financial Statements. Modal operational costs in subsequent tables are noted in Banning Connect internal financial reports. Modal operational costs do not sum to operational costs due to differing data sources. (2) Audited system -wide passenger fare data include supplemental revenues such as interest, City, and miscellaneous contributions. (3) Percentage change in the three-year CPI is based on the difference between the FY 2021 price index and FY 2018 price index. The annual CPI is the change in the price index from the prior year. Michael Baker International - 16 Triennial Performance Audit of Banning Connect - FYs 2019-2021 Table IV -2 Banning Connect TDA Performance Indicators Fixed Route Audit Period Performance Data and Indicators FY 2018 FY 2019 FY 2020 FY 2021 % Change FY 2018-2021 Operating Cost $1,444,377 $1,695,227 $1,818,789 $1,822,132 26.2% Total Passengers 116,129 106,668 106,908 86,762 -25.3% Vehicle Service Hours 20,590 12,749 18,283 13,593 -34.0% Vehicle Service Miles 771,908 364,946 419,752 433,112 -43.9% Employee FTEs 13 13 16 17 30.8% Passenger Fares $94,990 $91,213 $79,774 $512 -99.5% Operating Cost per Passenger $12.44 $15.89 $17.01 $21.00 68.9% Operating Cost per Vehicle Service Hour $70.15 $132.97 $99.48 $134.05 91.1% Operating Cost per Vehicle Service Mile $1.87 $4.65 $4.33 $4.21 124.8% Passengers per Vehicle Service Hour 5.6 8.4 5.8 6.4 13.2% Passengers per Vehicle Service Mile 0.15 0.29 0.25 0.20 33.2% Vehicle Service Hours per Employee 1,583.8 980.7 1,142.7 799.6 -49.5% Average Fare per Passenger $0.82 $0.86 $0.75 $0.01 -99.3% Fare Recovery Ratio 6.58% 5.38% 4.39% 0.03% -99.6% Consumer Price Index - (CPI-AII) 3.5% 3.4% 2.5% 2.0% 8.1% Source: Transit Operators Financial Transactions Reports Michael Baker International - 17 Triennial Performance Audit of Banning Connect - FYs 2019-2021 Table IV -3 Banning Connect TDA Performance Indicators Dial -A -Ride Audit Period Performance Data and Indicators FY 2018 FY 2019 FY 2020 FY 2021 % Change FY 2018-2021 Operating Cost $180,848 $209,590 $275,330 $238,129 31.7% Total Passengers 10,664 10,080 6,052 626 -94.1% Vehicle Service Hours 1,428 1,440 1,184 218 -84.7% Vehicle Service Miles 26,275 28,197 21,745 5,775 -78.0% Employee FTE's 2 1 1 1 -50.0% Passenger Fares $22,881 $19,855 $11,602 $1,584 -93.1% Operating Cost per Passenger $16.96 $20.79 $45.49 $380.40 2143.1% Operating Cost per Vehicle Service Hour $126.64 $145.55 $232.54 $1,092.33 762.5% Operating Cost per Vehicle Service Mile $6.88 $7.43 $12.66 $41.23 499.1% Passengers per Vehicle Service Hour 7.5 7.0 5.1 2.9 -61.5% Passengers per Vehicle Service Mile 0.41 0.36 0.28 0.11 -73.3% Vehicle Service Hours per Employee 714.0 1,440.0 1,184.0 218.0 -69.5% Average Fare per Passenger $2.15 $1.97 $1.92 $2.53 17.9% Fare Recovery Ratio 12.65% 9.47% 4.21% 0.67% -94.7% Consumer Price Index - (CPI-AII) 3.5% 3.4% 2.5% 2.0% 8.1% Source: Transit Operators Financial Transactions Reports Michael Baker International - 18 Triennial Performance Audit of Banning Connect - FYs 2019-2021 Graph IV -1 Operating Costs System -wide, Fixed Route, and Dial -A -Ride S2,500,000 S2,000,000 S1,500,000 S 1,000,000 5500,000 140,000 120,000 100,000 80,000 60,000 40,000 20,000 ■ P12018 ■ FY 2019 ■ FY 2020 ■ Systemwide ■ Fixed Route ■ Dial -a -Ride Graph IV -2 Ridership System -wide, Fixed Route, and Dial -A -Ride ■ FY 2018 FY 2019 FY 2020 ■ Systemwide ■ Fixed Route ■ Dial -a -Ride • FY 2021 FY 2021 Michael Baker International - 19 Triennial Performance Audit of Banning Connect - FYs 2019-2021 Graph IV -3 Operating Cost Per Passenger System -wide, Fixed Route, and Dial -A -Ride S400.00 5350.00 5300.00 5250.00 S200.00 5150.00 S100.00 550.00 S - umi IIIIIIIII=1.1 MII•III • MI FY 2018 FY 2019 FY 2020 FY 2021 • Systemwide • Fixed Route • Dial -a -Ride S1, 200.00 51,000.00 5800.00 5600.00 5400.00 S200.00 5- Graph IV -4 Operating Cost Per Vehicle Service Hour System -wide, Fixed Route, and Dial -A -Ride • um NMI P12018 FY 2019 FY 2020 FY 2021 • Systemwide • Fixed Route • Dial -a -Ride Michael Baker International - 20 Triennial Performance Audit of Banning Connect — FYs 2019-2021 Graph IV -5 Passengers Per Vehicle Service Hour System -wide, Fixed Route, and Dial -A -Ride 9.0 8.0 7.0 6.0 5.0 4.0 3.0 2.0 1,0 00 30% 25% 20% 15% 10% 0% FY 2018 I FY 2019 FY 2020 ■ Systemwide ■ Fixed Route ■ Dial -a -Ride Graph IV -6 Fare Recovery Ratio System -wide, Fixed Route, and Dial -A -Ride i I 11 Ems FY 2021 FY 2018 FY 2019 FY 2020 FY 2021 ■ Systemwide ■ Fixed Route ■ Dial -a -Ride Michael Baker International - 21 Triennial Performance Audit of Banning Connect - FYs 2019-2021 Findings from Verification of TDA Performance Indicators It is noted that adverse impacts on transit service from the COVID-19 pandemic and statewide shelter -in -place order are reflected in various performance measure trends described below. The operator's response during this period is contained in the functional review section of this audit. 1. Operating cost per vehicle service hour, an indicator of cost efficiency, more than doubled system -wide from $73.86 in the FY 2018 base year to $149.18 in FY 2021. Operating costs (based on audited data) increased 26.7 percent system -wide as Banning Connect kept scheduled service while operating hours decreased by 37.3 percent over the same period due to the COVID-19 pandemic. Operating costs for fixed route rose at a comparable rate as system -wide. However, Dial -A -Ride operating costs grew more quickly in percentage terms, at 31.7 percent compared to 26.2 percent for fixed route for the same period. Cost increases for both services are attributed to higher salaries and fringe benefits, fuel, tires, casualty, and liability insurance costs. 2. Operating cost per passenger, an indicator of cost effectiveness, increased 83.8 percent system -wide from $12.83 in the FY 2018 base year to $23.58 in FY 2021. Ridership system- wide decreased by 31.1 percent, from 126,793 passengers in FY 2018 to 87,388 passengers in FY 2021, while operating costs increased 26.7 percent for the same period. 3. Passengers per vehicle service hour, which measures the effectiveness of the service delivered, increased 9.9 percent system -wide between FY 2018 and FY 2021 from 5.8 passengers per hour to 6.3 passengers per hour. Fixed -route operations reflected the system- wide trend with an increase of 13.2 percent over the same period from 5.6 to 6.4 passengers per hour. Demand -response operations exhibited a decrease of 61.5 percent from 7.5 to 2.9 passengers per hour. The trend in this indicator reflects a drastic overall decline in ridership and vehicle hours on demand -response services during the triennial period due to the COVID-19 pandemic while ridership on fixed route was less impacted percentage -wise. 4. Passengers per vehicle service mile, another indicator of service effectiveness, increased 25.3 percent system -wide, from 0.16 in FY 2018 to 0.20 in FY 2021. For fixed -route operations, the number of passengers per service mile increased 33.2 percent from 0.15 to 0.20 between FY 2018 and FY 2021. In contrast, passengers per service mile for demand - response service decreased 73.3 percent over the same period. 5. Vehicle service hours per employee decreased 47.7 percent system -wide between FY 2018 and FY 2021. Vehicle service hours per employee for fixed -route service decreased 49.5 percent during the reporting period, from 1,583.8 hours in FY 2018 to 799.6 hours in FY 2021, as vehicle service hours decreased, and the number of full-time equivalents (FTEs) increased (from 13 to 17) during the period, which should be verified by Banning Connect via the State Controller's report entry for FTEs to be sure it is not based on head count. For the Dial -A -Ride service mode, vehicle hours per employee decreased 69.5 percent in the reporting period. Michael Baker International - 22 Triennial Performance Audit of Banning Connect — FYs 2019-2021 Vehicle service hours decreased as did Dial -A -Ride employees (from 2 to 1 FTEs). Changes in this indicator reflect staffing shortages and turnover in part-time drivers. 6. Farebox recovery exhibited an overall percentage increase of 133.7 percent system -wide from 10.31 percent in FY 2018 to 24.10 percent in FY 2021 based on audited data. System- wide, passenger fares declined significantly due to the pandemic and suspension of fares, but fare revenue was supplemented by the City's General Fund, interest, and miscellaneous contributions, in particular in FY 2021. However, system -wide operating costs increased by more than 26 percent. At a modal level, fixed -route farebox recovery decreased 99.6 percent whereas Dial -A -Ride farebox recovery decreased 94.7 percent, neither of which account for the inclusion of local support supplemental revenues. Conclusion from the Verification of TDA Performance Indicators Banning Connect's system -wide performance indicators reflect increases in operating costs while sustaining bus ridership to a degree despite service impacts due to the COVID-19 pandemic. Ridership on the fixed route decreased 25.3 percent whereas Dial -A -Ride ridership decreased by about 94 percent. Ridership stabilized in FY 2019 and for much of FY 2020 when Beaumont Transit Route 2 was discontinued through the City of Banning based on the new interagency service agreement between the two cities. System -wide, vehicle service hours and miles decreased 37.3 and 45.0 percent over the three years, respectively, despite exhibiting increases in FY 2020. The vehicle service hours exhibited the highest increase in FY 2019-2020 on the fixed route, which occurred pre-COVID. State Controller operating data for Dial -A -Ride submitted by Banning Connect for FY 2020-21 appear inconsistent; for example, reported vehicle miles are much too high relative to vehicle hours. In such cases, internal performance reports were used in -lieu of the SCO reports. Michael Baker International - 23 Triennial Performance Audit of Banning Connect — FYs 2019-2021 Section V Review of Operator Functions This section provides an in-depth review of various functions in the Banning Connect system. The review highlights accomplishments, issues, and/or challenges that were determined during the audit period. The following functions were reviewed at the City of Banning Public Works Department and Corporation Yard: • Operations • Maintenance • Planning • Marketing • General Administration and Management Within some departments are subfunctions that require review as well, such as Grants Administration that falls under General Administration. Operations Banning Connect is a local, City -operated transit system serving Banning and the neighboring community of Cabazon located to the east. The system is composed of four fixed routes and a demand -response service. The Pass Transit MOU between the Cities of Banning and Beaumont, which began in 2002, allowed for each respective agency to cross jurisdictional boundary lines, allowing simplified travel for passengers throughout the Pass area. However, Banning Connect expressed concerns about the adverse impacts that Beaumont's Route 2 had on its system's ridership along the Ramsey Street corridor. Coordination of fares was also an issue. In June 2019, the City of Banning and the City of Beaumont entered an interagency service agreement for the purpose of providing coordinated transit services. This agreement ended the Pass Transit MOU. With the 2019 agreement, Beaumont Transit Route 2 was discontinued from operating within the City of Banning. Joint Pass Transit branding was also discontinued, and both Banning Connect and Beaumont Transit rebranded their services individually. Under the new branding initiative, Banning Connect adopted "Banning Connect" as its new service name. The system was fully rebranded utilizing the new "Banning Connect" logo in July 2020. The new agreement allows for interline transfers between the two systems at the Walmart in Beaumont and the San Gorgonio Memorial Hospital in Banning. Beaumont will limit Banning to Michael Baker International - 24 Triennial Performance Audit of Banning Connect — FYs 2019-2021 no more than three buses per hour at Walmart and Banning will limit Beaumont to no more than three buses per hour at the San Gorgonio Memorial Hospital bus stop. Major trip generators served by Banning Connect include the Sun Lakes Shopping Center, the 2nd Street Marketplace and Walmart Supercenter in Beaumont, the Banning Justice Center, San Gorgonio Pass Hospital, Beaver and Loma Linda Medical Plazas, the Cabazon Outlet Stores, Desert Hills Premium Outlets, Casino Morongo, and Mt. San Jacinto College, San Gorgonio Pass Campus. The main trunk route, Route 1, operates along Ramsey Street with hourly headways during the weekday and every two hours on weekends. The route also features a circulator loop departing from Casino Morongo and servicing the Cabazon Community Center and the residential areas of Cabazon. Route 1 is the most productive in the system and accounts for 72 percent of the ridership. The route also deviates to Mt. San Jacinto College around 9:00 p.m., Monday through Friday. Route 5 operates in the areas of Banning located north of 1-10 and accounts for 17 percent of the system's ridership. Major stops on this route are the Banning Justice Center, Banning City Hall, the Banning Community Center, library, medical facilities, San Gorgonio Memorial Hospital, and the commercial area of Beaumont. Route 6 serves the southern areas of Banning and comprises 11 percent of the system's ridership. Major stops on this route are the Mid -County Justice Center, Banning City Hall, the Mt. San Jacinto Pass Campus, Banning High School, Smith Correctional Facility, medical offices, San Gorgonio Memorial Hospital, and the commercial area of Beaumont. Route 5/6 offers weekend -only service along an alignment that is a combination of the weekday service of the Route 5 and Route 6. Sunday ridership is reported to be low. Banning Connect's ridership is composed primarily of the transit dependent, many of whom are transfer passengers from the RTA. Student ridership has declined due to the local school district's busing program. Anticipated increased ridership to the Justice Center has yet to materialize. Dial -A -Ride trips are booked a minimum of 24 hours in advance; however, same -day requests can be accommodated. There is a 15 -minute pickup window for Dial -A -Ride scheduling. No- shows occur when the rider is not ready, forgets, fails to call and cancel in advance, or refuses their ride when the driver arrives. If three no-shows accumulate in a 60 -day period, a 30 -day suspension will result. Once the rider is reinstated, if an additional three no-shows occur within another 60 days, the suspension will be extended to 45 days. After the third infraction of three no-shows, the suspension is for 60 days. If an individual continues to misuse the program, a reinstatement fee may be charged. No-shows are tracked manually on a specific log, which records the day and time of the scheduled pickup, passenger name, details, and the fare amount owed. Michael Baker International - 25 Triennial Performance Audit of Banning Connect — FYs 2019-2021 Driver trip sheets for both service modes include sections for recording the passenger count and fare categories, fuel mileage, hours, and mileage. Both actual and revenue hours and mileage are recorded and segregated. One white board and a calendar is used by the dispatcher to track driver availability while a second white board shows the buses on their respective routes. Performance data are entered into TransTrack Manager on a monthly basis. On -time performance data for Dial -A -Ride are entered into TransTrack. If drivers are six to seven minutes behind schedule, they are required to call into dispatch. The Route 6 driver calls in at the San Gorgonio Pass Hospital and high school. As a general practice, drivers call into dispatch upon leaving the corporation yard and during breaks, late runs, and road calls. Communications and dispatching rely on both electronic and manual methods. Banning utilizes Motorola push -talk radios provided by Verizon for communication between the drivers and dispatch. Banning Connect is planning to upgrade its communication system in conjunction with the police department's planned upgrade. Banning has been looking to computerize its dispatching and scheduling functions. Dispatch functions have generally been conducted manually with a reliance on typewritten schedules and manifests. Banning Connect upgraded the surveillance camera systems on its newer vehicles. Video footage can be downloaded with GateKeeper wireless technology. Vehicles are equipped with six surveillance cameras. Older vehicles are equipped with Safety Vision surveillance camera systems. Camera footage is used to investigate customer complaints and for employee discipline. Farebox revenues are counted and reconciled Monday through Thursday. Vehicles are equipped with Diamond vaulted fareboxes. At the end of each shift, the office specialist and lead driver pull out the vaults from the buses and transport them to City Hall by car. The vaults are taken to the Fiscal Services Department, which has a key to the vaults. Fare revenues are counted by the field supervisor and one person from the Fiscal Services Department in a safe room and reconciled with the trip sheets. Pass and ticket sales are also noted on the trip sheets. The driver farebox receipt is placed in the farebox. The Fiscal Services staff is also able to determine any significant overages or shortages during the reconciliation process. In October 2019, Banning Connect began offering riders the ability to purchase fares virtually through a mobile ticketing app called "Token Transit." In May 2020, the City approved Banning Connect's procurement of the Swiftly platform. Swiftly software creates real-time transit data that can be utilized by third -party apps providing real- time arrival predictions to help customers and staff better utilize the transit system. The dispatcher uses Swiftly to help communicate estimated bus arrivals for passengers on both services. Banning Connect approved the use of Proposition 1B funds to purchase Swiftly service for a five-year period. The GPS units in the vehicles have been undergoing replacement to better align with the Swiftly platform. Michael Baker International - 26 Triennial Performance Audit of Banning Connect — FYs 2019-2021 COVID-19 Pandemic Impacts As impacts from the novel coronavirus started to be realized in California, a state of emergency was declared on March 4, 2020. Subsequently, a mandatory statewide shelter -in -place order was implemented on March 19th that same year. In response, Banning Connect implemented measures and protocols to mitigate the spread of the virus. Fare collection was suspended in March 2020. Banning installed driver barriers, enforced mandated masking protocols and social distancing, and implemented enhanced cleaning measures. Banning Connect budgeted $25,000 toward bus disinfecting and contracts with Mobile Turtle Fleet and Auto Detailing to disinfect the vehicles three times a week. Personal protective equipment distributed to the drivers included five pairs of gloves, five face masks, hand sanitizer, goggles, and face shields. Although service levels remained relatively unchanged, Banning decided to shave off time from its schedule in the morning and evening hours to better accommodate rider demand. These necessary activities in response to the rapidly evolving COVID-19 pandemic condition resulted in severe impacts on performance trends, which were pervasive throughout the transit industry during the fourth quarter of FY 2020 and most of FY 2021. Fare collection resumed on all service modes in the summer of 2021. Personnel Banning Connect personnel are City employees. Drivers and nonexempt employees are represented by the International Brotherhood of Electrical Workers (IBEW), Local 47. The City and the IBEW entered into a three-year MOU covering July 1, 2017, through June 30, 2020. Full- time employees are covered under the general bargaining unit referenced in the MOU. Transit has been challenged by staffing shortages and high turnover. Most of the turnover occurred among part-time employees. Banning Connect utilizes a part-time employee for the Dial -A -Ride service. According to the 2021 Transit Division organizational chart, there are 13 positions in the department: transit manager, field supervisor, and 11 drivers. There were seven full-time drivers, 2.5 part-time fixed -route drivers, and 1.39 part-time Dial -A -Ride drivers. Banning Connect perceives full-time drivers as being more invested in the transit program and more reliable compared to part-time personnel. As of October 2021, the transit manager position was vacant and has remained vacant. Banning Connect is recruiting for this hands-on transit management position and advertises on governmental -focused job websites. The field supervisor conducts monthly safety trainings. Most new drivers are recruited from outside of the area or were former school bus and Beaumont Transit drivers. Drivers undergo annual performance evaluations, which include ride -along observations, speed monitoring, and customer service skills. At the time of application, driver candidates are required to have a valid Class B California driver license with air brake and passenger endorsements. In addition, drivers must have one of the following certifications: Verification of Transit Training, School Bus Driver, or School Pupil Activity Bus Certification. Drivers undergo a background investigation and must successfully complete Michael Baker International - 27 Triennial Performance Audit of Banning Connect — FYs 2019-2021 periodic physical examinations as required by federal transportation regulations. The lead driver is a certified trainer and conducts safety meetings on a monthly basis. Safety meetings cover wheelchair placement, emergency evacuations, parking and driving maneuvers, service animals, and passenger etiquette. Banning Connect utilizes training resources from the Transportation Safety Institute. Accruals for vacation and sick time commence on the first day of employment for full-time employees. Employees with one to four years of service accrue 10 vacation days, 15 days with five to nine years, and up to 20 vacation days with 10 or more years of service. Employees accrue 3.69 hours of sick time per 80 -hour pay period. Full-time employees and their dependents are provided employer -paid health insurance benefits. Under the current MOU, the City contributed $1,400 per month to each represented employee toward medical and dental insurance. Maintenance Vehicle maintenance is the responsibility of the City's Fleet Maintenance Division and is performed at the City Yard located at 176 East Lincoln Street. The facility is equipped with five service bays, an outside vehicle wash bay, and a CNG station with both fast- and slow -fill pumps. There are three lifts; two of the lifts are able to accommodate larger buses. Transit vehicles are serviced in a dedicated service bay with one lift. Banning Connect reports being down to one mechanic with two vacancies. Vehicles operated on the fixed route are CNG- powered whereas all the Dial -A -Ride vehicles, except for one, are gasoline -powered. Drivers perform a 15 -minute pre -trip inspection before each run and note any areas that need maintenance attention. Vehicles in need of repair are red tagged. Preventive maintenance inspections (PMIs) are performed on a 6,000 -mile or 45 -day inspection schedule. Banning Connect is considering extending the PMI intervals by using higher grade motor oil and conducting regular oil analyses. The Fleet Maintenance Division utilizes Ron Turley Associates fleet management software to track PMIs and work orders. The maintenance software program interfaces with the fueling system and records vehicle mileage. The CNG station is under the oversight of the Fleet Maintenance Division. Banning Connect sells fuel to the Banning Unified School District and there is potential for sales to the general public. In addition, Banning Connect is looking at refurbishing its CNG fueling facility and has identified TDA funding available as well as $700,000 in Carl Moyer Grant Program funds through the California Air Resources Board. Banning Connect has not deemed it necessary to maintain a large parts inventory; however, the most common parts kept on hand include brakes and tires. Parts are barcoded and scanned. Certain maintenance work is outsourced to local vendors, such as for time-consuming repairs or if the department lacks the proper tools and materials. The CHP is responsible for certifying Banning's maintenance facilities and for inspecting vehicles on an annual basis. Inspections conducted during the audit period were rated satisfactory. Michael Baker International - 28 Triennial Performance Audit of Banning Connect — FYs 2019-2021 Road calls are tracked and recorded in TransTrack Manager. A summary of road calls incurred during the audit period is presented in Table V-1. Table V-1 Banning Connect Road Calls Road Call Categories FY 2019 FY 2020 FY 2021 Fixed Route: Major Mechanical System Failures 62 119 64 Other Mechanical System Failures 321 374 541 Demand Response: Major Mechanical System Failures 6 18 12 Other Mechanical System Failures 61 54 23 Total Major Mechanical System Failures 68 137 76 Total Other Mechanical System Failures 382 428 564 Grand Total: 450 565 640 Source: TransTrack Manager A review of road call summary based on applying FTA definitions shows that the number of road calls due to major mechanical system failures fluctuated during the period from 68 in FY 2019 to 137 in FY 2020 to 76 in FY 2021. Road calls due to other mechanical system failures also fluctuated, although less drastically, with 382 in FY 2019, 428 in FY 2020, and 564 in FY 2021. Banning Connect reported that its newest vehicle in the transit fleet had been involved in an accident. The City Council approved the procurement of two CNG vehicles with the use of SB 1 State of Good Repair funds. Banning Connect also has plans to procure electric vehicles in the future. Planning Banning Connect prepares a Short -Range Transit Plan (SRTP) on an annual basis. The SRTP covers a three-year planning horizon and includes a system overview; services and performance analysis for each route and service provided; service changes; and financial and capital plans. Under the Existing Service and Route Performance chapter, a series of recommendations for service improvements is presented for each route or program. Performance data from TransTrack Manager is also included to provide an annual comparison. In adhering to the SRTP analysis element, Banning must meet at least four out of seven discretionary performance indicators. There is one mandatory indicator, which is the farebox recovery ratio set at 10 percent. Using the SRTP covering FY 2019-2020 through FY 2021-2022, Table V-2 summarizes the FY 2020-2021 performance targets system -wide. Banning met four out of the eight performance indicator targets. Michael Baker International - 29 Triennial Performance Audit of Banning Connect — FYs 2019-2021 Table V-2 Banning Connect Performance Targets Performance Indicators FY 2020-21 Target Actual Performance Met Target Farebox Recovery >=10.00% 11.10%* Yes Operating Cost Per Revenue Hour <=$42.80 $71.13 Fails to Meet Target Subsidy Per Passenger >=$4.54 & <=$6.14 $8.70 Fails to Meet Target Subsidy Per Passenger Mile >=$2.42 & <=$7.79 $2.20 Better Than Target Subsidy Per Hour >=$30.11 & <=$40.73 $63.23 Fails to Meet Target Subsidy Per Mile >=$1.30 & <=$1.76 $2.22 Fails to Meet Target Passengers Per Revenue Hour >=5.64 & <=7.62 7.26 Yes Passengers Per Revenue Mile >=0.25 & <=0.33 0.26 Yes Source: Banning Connect, TransTrack Manager *Farebox recovery ratio is derived from unaudited cost and revenue data. The City is seeking to attract development that could potentially benefit transit usage. Two major growth areas have been identified: the Atwell master planned community in the northwest part of town along Highland Springs Avenue, and a planned development of approximately 3,200 homes south of the 1-10 corridor. Banning Connect has also engaged the Sun Lakes Country Club Homeowners Association about the possibility of providing supplemental service to residents on the weekends. Further, development at the City municipal airport may justify a future bus stop. Nevertheless, Banning Connect does not foresee any formalized service changes planned for the immediate future. Banning Connect has stated its intention to monitor ridership levels as they recover from the COVID-19 pandemic as well as from the implemented changes related to the interagency services agreement with Beaumont. Banning Connect hopes to learn more about possibilities for improving its services through the development of a Comprehensive Operational Analysis. Marketing Banning uses several media approaches in marketing its transit services. Under the current interagency service agreement, Banning Connect and Beaumont Transit have agreed to cooperate in providing the public with specific transit information by advertising the operations of both agencies and promoting the general usage of public transit. Banning honors this agreement on the "Regional Service Providers" page on the City's website. Here users can click on a link that takes them to Beaumont Transit's webpage as well as other regional service providers including RTA, SunLine, Omnitrans, Metrolink, and IE511.org. The most significant marketing effort during the audit period was the rebranding of the service to Banning Connect. Printed brochures and marketing collateral are published in-house. Ride Guide brochures are published for each of the four fixed routes in the system, identifying key local bus stops and timepoints, including interline connections to the RTA, SunLine, and Beaumont Transit. Brochures are distributed to the library, Chamber of Commerce, San Gorgonio Memorial Hospital, Mt. San Jacinto College Pass Campus, local hotels, and other businesses. Michael Baker International - 30 Triennial Performance Audit of Banning Connect — FYs 2019-2021 Banning Connect has identified the need for the addition and replacement of bus shelters throughout the City. According to the latest SRTP, Banning Connect currently has nine bus shelters. Banning Connect plans to replace its existing bus shelters over a five-year period, will be installing mobile SMS codes on all its bus stops for real-time bus tracking. The redesigned Banning Connect website (http://www.banning.ca.us/351/Bus-Schedules) contains a page devoted to the transit program. A separate page provides information on the Dial -A -Ride service (http://www.banning.ca.us/356/Dial-A-Ride). The main Banning Connect web page provides general information, fares, and modal links to the fixed -route and Dial -A -Ride services as well as links to the Swiftly transit app to view real-time bus arrivals by stop. Bus schedules for each route are accessible in PDF. Development of social media is restricted by City policy; therefore, Banning Connect does not have a presence on Facebook or Twitter and instead relies on more traditional channels and its website. Banning Connect participates in the Go -Pass program in conjunction with Mt. San Jacinto College. Student pass holders ride the system for free by presenting their student identification card with the Go -Pass sticker. RTA has an agreement with the college; however, Banning Connect does not receive any of the revenues from the program. Banning Connect was anticipating that the Mt. San Jacinto College student body would vote on the separate fare revenue agreement in early 2018; however, the vote never materialized. The parties were not able to come to an agreement due to a lack of interest on the part of the college and RTA. During the audit interview process, Banning Connect mentioned the possibility of implementing an advertising program to generate extra farebox revenue. Banning Connect currently does not have an advertising policy but has expressed interest in developing one. Given the farebox recovery trends, it is recommended that Banning Connect pursue this measure to incorporate other locally generated revenue in its farebox recovery. General Administration and Management The City of Banning was incorporated February 6, 1913, as a general law city and currently operates under a council/manager form of government. The five -member City Council serves as the City's principal legislative body and members are elected to four-year terms, which are staggered. The mayor and the mayor pro tem are elected from the City Council and serve one- year terms. The City Council meets the second and fourth Tuesdays of each month at 5:00 p.m. in the Banning City Council Chambers. The chief administrative officer for the City is the City manager, who is appointed by the City Council. The City manager oversees and coordinates City departments and services, including Community Services and Public Works. During the audit period, administration of the transit program was transferred from the Community Services Department to the Public Works Department with the retirement of the Community Services director from the City in June 2019. The director has been assisted by an office specialist who has worked with transit for more than 20 years. Michael Baker International - 31 Triennial Performance Audit of Banning Connect — FYs 2019-2021 Under Public Works, transit operations moved out of the Community Services Department and into the City's Corporation Yard where Fleet Maintenance is located. The Public Works Department is the largest department within the City of Banning. Banning Connect had funded a designated transit manager position, which was filled by two different individuals, consecutively, over a year and a half period. The position is currently vacant. An analyst with the City currently conducts data management and assists with transit operations and scheduling. According to the SRTP, Banning Connect is implementing data collection procedures to more accurately collect data related to on -time performance, ridership growth, road calls, complaints, preventable accidents, and rider injuries. A future goal of Banning Connect is to have City Council -approved operating standards and performance metrics. The Swiftly software should be one tool, among others, to help Banning Connect obtain data for developing the standards. The primary source of transit funding support is derived from the Local Transportation Fund (LTF) for operations. Banning Connect submits the annual TDA claim for funds to the RCTC. TDA claims are based on Banning Connect's annual budget projections and the financial element of the SRTP. Banning Connect's LTF allocation was $1,417,294 in FY 2019; $1,463,034 in FY 2020; and $1,683,060 in FY 2021. State Transportation Assistance (STA) funds received by Banning Connect were $108,130. STA is used toward capital projects. There were increased interfund transfer payments. The City implemented a new cost allocation plan in FY 2021, which is anticipated to reduce interfund allocations charged to the Transit Services Fund. In FY 2020, the $500,000 in transfer payments included $220,000 for fleet maintenance expenses. Grants Management Grant funding allocated toward the transit system has been derived from state sources composed of Proposition 1B, SB 1 State of Good Repair (SGR), and Low Carbon Transit Operation Program funds. Under the Proposition 1B Public Transportation Modernization, Improvement & Service Enhancement Account program, Banning received funding for vehicle purchases and bus shelter and CNG facility upgrades. Another component of the Proposition 1B program is the Transit System Safety, Security & Disaster Response Account (TSSSDRA) administered by the Governor's Office of Emergency Services. TSSSDRA funds awarded to Banning Connect have been utilized toward security cameras and equipment. As of June 30, 2021, Banning Connect had an unexpended balance of $16,125 in TSSSDRA funds. In FY 2020, Banning Connect received $76,047 in SGR program funds. Banning does not utilize federal transit funding for operating expenses, thus avoiding federal transit grant and Title VI reporting requirements. Michael Baker International - 32 Triennial Performance Audit of Banning Connect — FYs 2019-2021 Section VI Statement of Facts The following summarizes factual events and trends obtained from this triennial audit covering fiscal years 2019 through 2021. A set of recommendations is then provided. 1. Of the compliance requirements pertaining to Banning Connect, the operator fully complied with six out of the eight applicable requirements. Banning Connect was in partial compliance with regard to the timely completion and submittal of its annual fiscal and compliance audits and farebox recovery attainment. Three additional compliance requirements did not apply to the operator (intermediate and urban farebox recovery ratio and the use of federal funds). 2. Based on the farebox calculation in the annual Transit Services Fund Financial Statements (audited), Banning's farebox recovery ratio met or exceeded the required minimum standard of 10 percent in one of the three audit years. The system -wide farebox recovery ratios were 9.61 percent in FY 2019, 4.28 percent in FY 2020, and 24.10 percent in FY 2021.2 It is noted that the audited farebox ratio in FY 2020 was adversely impacted from the COVID-19 pandemic and state shelter -in -place order as well as the suspension of fare collection. Banning Connect applied local support revenues to the FY 2021 farebox in order to meet minimum farebox recovery attainment. 3. Banning Connect participates in the CHP Transit Operator Compliance Program in which the CHP conducted inspections within the 13 months prior to each TDA claim. The CHP inspection reports submitted for review were found to be satisfactory. 4. The annual operating budget increased above 15 percent in FY 2019 and exhibited fluctuations in subsequent years. Banning saw increases of 17.2 percent and 10.5 percent, respectively, during FY 2019 and FY 2020. The budget exhibited a slight decrease of 2.1 percent in FY 2021. The FY 2019 budgetary increase is attributed to higher salaries and fringe benefits, fuel, tires, casualty, and liability insurance costs. 5. Banning satisfactorily implemented one of the three prior audit recommendations. The implemented recommendation pertained to the inclusion of a link to Beaumont Transit on the Banning Connect web page. One recommendation pertaining to a fare -sharing agreement with the RTA and Mt. San Jacinto College for Go -Pass riders was not implemented and is no longer applicable. The recommendation pertaining to the timely completion and submittal of external TDA financial reports was partially implemented and is being carried forward for full implementation. 2 AB 90, passed into law and signed by the governor in June 2020 in response to the COVID-19 pandemic impacts, prohibits the imposition of penalties on a transit operator that does not maintain the required ratio of fare revenues to operating cost during the FY 2019-20 or FY 2020-21. Michael Baker International - 33 Triennial Performance Audit of Banning Connect - FYs 2019-2021 6. Operating cost per vehicle service hour, an indicator of cost efficiency, more than doubled system -wide from $73.86 in the FY 2018 base year to $149.18 in FY 2021. Operating costs (based on audited data) increased 26.7 percent system -wide as Banning Connect kept scheduled service while operating hours decreased by 37.3 percent over the same period due to the COVID-19 pandemic. Operating costs for fixed route rose at a comparable rate as system -wide. However, Dial -A -Ride operating costs grew more quickly in percentage terms, at 31.7 percent compared to 26.2 percent for fixed route for the same period. Cost increases for both services are attributed to higher salaries and fringe benefits, fuel, tires, casualty, and liability insurance costs. 7. Operating cost per passenger, an indicator of cost effectiveness, increased 83.8 percent system -wide from $12.83 in the FY 2018 base year to $23.58 in FY 2021. Ridership system- wide decreased by 31.1 percent, from 126,793 passengers in FY 2018 to 87,388 passengers in FY 2021, while operating costs increased 26.7 percent for the same period. 8. Passengers per vehicle service hour, which measures the effectiveness of the service delivered, increased 9.9 percent system -wide between FY 2018 and FY 2021 from 5.8 passengers per hour to 6.3 passengers per hour. Fixed -route operations reflected the system- wide trend with an increase of 13.2 percent over the same period from 5.6 to 6.4 passengers per hour. Demand -response operations exhibited a decrease of 61.5 percent from 7.5 to 2.9 passengers per hour. The trend in this indicator reflects a drastic overall decline in ridership and vehicle hours on demand -response services during the triennial period due to the COVID-19 pandemic while ridership on fixed route was less impacted percentage -wise. 9. Passengers per vehicle service mile, another indicator of service effectiveness, increased 25.3 percent system -wide, from 0.16 in FY 2018 to 0.20 in FY 2021. For fixed -route operations, the number of passengers per service mile increased 33.2 percent from 0.15 to 0.20 between FY 2018 and FY 2021. In contrast, passengers per service mile for demand -response service decreased 73.3 percent over the same period. 10. In June 2019, the City of Banning and the City of Beaumont entered an interagency service agreement for the purpose of providing coordinated transit services. This agreement ended the Pass Transit MOU that was previously in place between the two cities and allowed for each respective agency to cross the other's jurisdictional boundary lines. Under the new branding initiative, Banning Transit adopted "Banning Connect" as its new service name. The system was fully rebranded utilizing the new "Banning Connect" logo in July 2020. 11. In May 2020, the City approved Banning Connect's procurement of the Swiftly platform. Swiftly software creates real-time transit data that can be utilized by third -party apps providing real-time arrival predictions to help customers and staff better utilize the transit system. The City approved the use of Proposition 1B funds to purchase Swiftly service for a five-year period. Michael Baker International - 34 Triennial Performance Audit of Banning Connect — FYs 2019-2021 12. Banning Connect personnel are City employees. Drivers and nonexempt employees are represented by the International Brotherhood of Electrical Workers, Local 47. According to the 2021 Transit Division organizational chart, there are 13 positions within the department: transit manager, field supervisor, and 11 drivers. There were seven full-time drivers, 2.5 part- time fixed -route drivers, and 1.39 part-time Dial -A -Ride drivers. As of October 2021, the transit manager position was vacant. 13. Vehicle maintenance is the responsibility of the City's Fleet Maintenance Division and is performed at the City Yard located at 176 East Lincoln Street. The facility is equipped with five service bays, an outside vehicle wash bay, and a CNG station with both fast- and slow -fill pumps. There are three lifts; two of the lifts are able to accommodate larger buses. 14. During the audit period, administration of the transit program was transferred from the Community Services Department to the Public Works Department with the retirement of the Community Services director from the City in June 2019. Under Public Works, transit operations moved out of the Community Services Department and into the City's Corporation Yard where Fleet Maintenance is located. Michael Baker International - 35 Triennial Performance Audit of Banning Connect — FYs 2019-2021 Recommendations 1. Ensure timely completion and submittal of external TDA financial reports. Banning Connect was in partial compliance with the timely completion and submittal of its annual fiscal and compliance audits. The late submittal may be due to the financial closeout procedures needed to generate the financial information required in the Controller's report. This in turn impacts the timely submittal of its fiscal and compliance audits, which cannot be completed until the financial closeout by the City. The TDA statute provides the submittal timelines and allowable extensions granted by the RCTC. Although City financial closeout procedures are not within the scope of this performance audit, it is suggested that a schedule be coordinated between the City's Finance Department, TDA fiscal auditor, and RCTC to anticipate financial closeout procedures and timelines by the City and completion of the external TDA financial reports. The financial closeout triggers the undertaking of the TDA financial reports, and close tracking of the timeliness of the closeout could advance some aspects and earlier preparation of the TDA reports. 2. Consider commissioning the development of a Comprehensive Operational Analysis. The FY 2020-2021 through FY 2022-2023 SRTP references the potential development of a Comprehensive Operational Analysis (COA) by Banning Connect. Given the service changes that have occurred as a result of the interagency services agreement with Beaumont as well as residential development taking place in the northwestern and southern portions of the city, a COA could provide a detailed look at Banning Connect's existing bus services and fare structure and provide recommendations for improving service to meet the needs of the riders. It could also identify new markets and services that could strengthen the brand identity of Banning Connect. 3. Consider the development of an advertising program and other local funds to support farebox recovery. State legislation (SB 508) reinforces current RCTC practice of allowing other locally generated revenues in the farebox ratio. These other revenues could include advertising generated by the transit system, bus wraps on the vehicles, CNG fuel sales, and other local contributions from the City to the transit program. During the audit interview process, Banning Connect mentioned the possibility of implementing an advertising program to generate extra farebox revenue. Banning Connect currently does not have an advertising policy but has expressed interest in developing one. However, staffing and budgetary constraints make it difficult to pursue. Nevertheless, given the farebox recovery trends, Banning Connect should work with the RCTC and pursue this measure to incorporate other locally generated revenue in its farebox recovery. This may also include Banning Connect working with City officials internally to adopt a social media policy enabling the transit system to develop an on-line presence that drives customers to its transit services and provides a communication outlet for updates. Michael Baker International - 36 Triennial Performance Audit of Banning Connect — FYs 2019-2021 4. Maintain efforts to hire and retain a transit manager. The transit system functions without a transit manager, and has been recruiting for the position. Banning Connect advertises the position and description on multiple platforms and online resources, such as Governmentjobs.com and the Municipal Management Association of Northern California, among many others. While the employment market has been challenging in general, Banning Connect should retain efforts to identify recruitment channels for the hiring process above existing methods. Targeted transit industry associations that post jobs online include CaIACT, California Transit Association, and Mass Transit Magazine; however, the most recent job listings on these sites do not advertise the opening for Banning. Banning Connect should consider expanding its advertising resources and target the job posting in industry sites to potentially increase capture of the intended qualified job seeker. Retaining a transit manager will help implement data collection procedures to more accurately collect data related to on -time performance, ridership growth, road calls, complaints, preventable accidents, and rider injuries. The position will help meet a future goal of to have City Council -approved operating standards and performance metrics. Michael Baker International - 37 ATTACHMENT 3 RCTC RIVERSIDE COUNTY TRANSPORTATION COMMISSION FY 2019-2021 Triennial Performance Audit of City of Beaumont Transit R AR IMn T • TRANSIT September 2022 Submitted to: Riverside County Transportation Commission Submitted by: Michael Baker INTERNATIONAL TABLE OF CONTENTS Section I 1 Introduction 1 Overview of the Transit System 1 Section II 7 Operator Compliance Requirements 7 Section II I 13 Prior Triennial Performance Recommendations 13 Section IV 17 TDA Performance Indicators 17 Section V 27 Review of Operator Functions 27 Operations 27 Maintenance 31 Planning 32 Marketing 32 General Administration and Management 34 Section VI 36 Statement of Facts 36 Recommendations 39 Triennial Performance Audit of Beaumont Transit — FYs 2019-2021 Section 1 Introduction California's Transportation Development Act (TDA) requires that a triennial performance audit be conducted of public transit entities that receive TDA revenues. The performance audit serves to ensure accountability in the use of public transportation revenue per Public Utilities Code (PUC) 99246. The Riverside County Transportation Commission (RCTC) engaged Michael Baker International to conduct the TDA triennial performance audit of the public transit operators under its jurisdiction in Riverside County. This performance audit is conducted for the City of Beaumont Transit (Beaumont Transit) covering the most recent triennial period, fiscal years 2018-19 through 2020- 2021. The purpose of the performance audit is to evaluate Beaumont Transit's effectiveness and efficiency in its use of TDA funds to provide public transportation in its service area. This evaluation is required as a condition for continued receipt of these funds for public transportation purposes. In addition, the audit evaluates Beaumont Transit's compliance with the conditions specified in the California Public Utilities Code (PUC). This task involves ascertaining whether the transit agency is meeting the PUC's reporting requirements. Moreover, the audit includes calculations of transit service performance indicators and a detailed review of the transit administrative functions. From the analysis that has been undertaken, a set of recommendations has been made which is intended to improve the performance of transit operations. In summary, this TDA audit affords the opportunity for an independent, constructive, and objective evaluation of the organization and its operations that otherwise might not be available. The methodology for the audit included in -person interviews with management, collection and review of agency documents, data analysis, and on -site observations. The Performance Audit Guidebook for Transit Operators and Regional Transportation Planning Entities, published by the California Department of Transportation (Caltrans), was used to guide the development and conduct of the audit. Overview of the Transit System The City of Beaumont has provided public transportation service since 1975. The current transit system is composed of both fixed -route and Dial -A -Ride services. Fixed -route service began as a single 15 -mile route in 1979, after the existing general public Dial -A -Ride service could not meet the growing demand. The fixed route serves the City of Beaumont and the unincorporated community of Cherry Valley to the north. Dial -A -Ride is limited to elderly and Americans with Disabilities Act (ADA) certified passengers. A combination of Dial -A -Ride and fixed -route deviations are available to assist passengers who are outside the quarter -mile border of each bus route. In July 2019, the Cities of Banning and Beaumont adopted an interagency service Michael Baker International - 1 Triennial Performance Audit of Beaumont Transit — FYs 2019-2021 agreement, which allows the two transit providers to provide interconnected service through June 30, 2022. This agreement came after the discontinuation of Pass Transit, an initiative that began in 2002 to integrate the two cities' transit services into one regional service. With the termination of the Pass Transit agreement, Pass Transit branding has been phased out and Beaumont Transit Route 2 service was discontinued in the City of Banning. Based on the 2020 US Census, Beaumont's population is 53,036, which grew 43.8 percent since the 2010 US Census. The senior citizen population, composed of residents aged 65 and over, is 13.5 percent. The 2021 population for Beaumont is estimated to be 52,686 as reported by the California Department of Finance, Population Estimates for Cities, Counties, and the State January 1, 2021. The city covers a 30.91 -square -mile area. System Characteristics Beaumont Transit operates both fixed -route and demand -responsive transit services. During the audit period, the fixed -route system was composed of three commuter/express regional and five local routes. Local routes serve Beaumont, Cherry Valley, and Cabazon, with transfers to Banning Connect routes. The commuter routes provide service between Beaumont and the San Bernardino Metrolink station, Redlands and the Loma Linda VA Hospital, and the Cabazon Outlets and Morongo Resort and Casino. The system operates Monday through Friday from 5:30 a.m. to 7:00 p.m. and Saturdays from 7:30 a.m. to 5:20 p.m. Beaumont Transit does not operate on New Year's Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day, and Christmas Day. Limited service following a weekend schedule is offered on Martin Luther King Jr. Day, Presidents' Day, Columbus Day, Veterans Day, and day after Thanksgiving. Beaumont Transit's fixed -route services during the audit period are summarized in Table 1-1. Table 1-1 Beaumont Transit Fixed Route Services Route Destination Frequency/Operation Key Time Points Route 3 Beaumont High — Every 60 minutes • Beaumont High School Walmart (Monday through Friday from 6:30 a.m. to 5:25 p.m.) • Cougar Way & Beaumont Avenue • Chatigny Recreation Center • Noble Creek Apartments • Walmart • San Gorgonio Hospital Route 4 Downtown Every 60 minutes • Pennsylvania & 8th Street Beaumont (Monday through Friday from 6:35 a.m. to 6:35 p.m.) • Walmart • San Gorgonio Hospital • Three Rings Ranch Park • Beaumont Library • Beaumont Civic Center • Cougar Way @ Beaumont Avenue • Beaumont High School Michael Baker International - 2 Triennial Performance Audit of Beaumont Transit — FYs 2019-2021 Route Destination Frequency/Operation Key Time Points Route 3/4 (Saturday Only) Walmart — Cherry Valley Every 60 minutes (Saturday from 8:00 a.m. to 5:00 p.m.) • Beaumont High School • Brookside Avenue (Sports Park) • Chatigny Recreation Center • Pennsylvania & 8th Street • Walmart • San Gorgonio Hospital • Beaumont Civic Center • Cougar Way Route 7 Tournament Hills — Fairway Canyon Two a.m. trips & two p.m. trips (Monday through Friday from 6:45 a.m. to 4:50 p.m. when school is in session) • Oak Valley Parkway & Desert Lawn • Palmer & Morris • Palmer & Trevino • Champions & Bay Hill • Monte Verde & Morgan • Beaumont High School • Cougar Way @ Beaumont Avenue • Oak Valley & Rite Aid Route 9 Seneca Springs — Cherry Valley Two a.m. trips & two p.m. trips (Monday through Friday from 6:45 a.m. to 4:23 p.m. when school is in session) • Manzanita Parkway @ Brownie Way • DeForge Park • Walmart • Beaumont Co -Op • Pennsylvania Avenue @ 8th Street • Cougar Way @ Beaumont Avenue • Beaumont High School Commuter Link 120 Beaumont Walmart — San Bernardino Metrolink Three bidirectional a.m. trips & three p.m. trips (Monday through Friday from 5:30 a.m. to 7:00 p.m.). Two bidirectional a.m. trips & two p.m. trips (Saturday from 7:30 a.m. to 5:20 p.m.) • Beaumont Walmart • Beaumont Civic Center • Beaumont Wells Fargo • Cabazon Outlets • Casino Morongo (Saturday service only) • San Bernardino Metrolink Commuter Link 125 Beaumont- Redlands- Loma Linda VA Two a.m. trips & two p.m. trips (Monday through Friday from 6:30 a.m. to 4:30 p.m.) • Walmart • Beaumont Civic Center • Redlands Transit Center • Loma Linda VA Hospital • Kaiser Redlands Medical Offices • Beaumont Wells Fargo Michael Baker International - 3 Triennial Performance Audit of Beaumont Transit — FYs 2019-2021 Route Destination Frequency/Operation Key Time Points Casino Express Beaumont Walmart — Casino Morongo Two a.m. trips & two p.m. trips (Monday through Friday from 7:20 a.m. to 4:45 p.m.) • Walmart • Casino Morongo • San Gorgonio Hospital • Cabazon Outlets Source: Beaumont Transit Commuter Link 125 was implemented in September 2018 and is the second regional route connecting the Pass Area with San Bernardino County. Commuter Link 125 was designed to provide more direct service to Loma Linda Veterans Administration Hospital, thus enabling Commuter Link 120 to operate more frequencies to the San Bernardino Transit Center. The Casino Express route was implemented in August 2020, providing service to the Morongo Casino and Cabazon Outlets. In April 2020, Beaumont Transit adjusted service schedules in response to a March 2020 shelter - in -place order resulting from the COVID-19 pandemic. Service changes included combining Routes 3 and 4 and combining Commuter Links 120 and 125. Dial -A -Ride Dial -A -Ride offers complementary demand -response door-to-door service in the Beaumont/Cherry Valley area to passengers certified under the ADA and seniors (ages 65 years old and older). ADA certification is conducted through the Riverside Transit Agency (RTA). Dial -A - Ride service operates Monday through Friday from 8:00 a.m. to 4:00 p.m. with Saturday and Sunday service offered to ADA-certified persons only from 8:00 a.m. to 6:00 p.m. After March 2020, Sunday service on Dial -A -Ride was no longer offered as an impact from the pandemic. Reservations are required at least 24 hours and up to a month in advance on a first -come, first - served basis. A $2.00 cancellation fee is charged in the event of a no-show or insufficient notice of a cancelled trip. Fares Beaumont Transit's fares are structured based on passenger, route, and service type. Multi -trip passes are also available for purchase. Fare increases were implemented in July 2018 at the beginning of the audit period. That same year, Beaumont Transit began offering mobile ticketing via the Token Transit app. In July 2019, Beaumont increased fares once more for all services except paratransit. The fare structures following the 2019 changes are summarized in Table 1-2. Michael Baker International - 4 Triennial Performance Audit of Beaumont Transit — FYs 2019-2021 Table 1-2 Beaumont Transit Fixed -Route Fare Schedule Fare Category Fares General Public $1.25 Youth (grades K-12) N/A Seniors (ages 65 and older) $0.75 Persons with Disabilities (ADA or Medicare Card) $0.75 Military Veterans (with photo ID) $0.75 Active Military Free Go -Pass (during school session only) Free Child (46" tall or under accompanied by full -fare paying adult) $0.25 Zone Deviations (one way to/from Route 3 and 4) $0.50 Commuter Link & Express — General Public/Go-Pass $3.50 Commuter Link & Express — Youth/Seniors/Disabled/Veterans $2.50 10 -Tripper Punch Pass (youth) N/A 10 -Ticket Book —General Public $12.50 10 -Ticket Book — Seniors/Disabled/Veterans $7.50 Day Pass — General Public $3.10 Day Pass — Youth N/A Day Pass — Seniors/Disabled/Veterans $1.90 Commuter Link Punch Pass —General Public/Go-Pass $31.50 Commuter Link Punch Pass — Youth $22.50 Commuter Link Punch Pass — Seniors/Disabled/Veterans $22.50 Monthly Pass — General Public $39.00 Monthly Pass — Youth N/A Monthly Pass — Seniors/Disabled/Veterans $24.80 Source: Beaumont Transit. fares as of July 1, 2019 Active military personnel with proper identification and students holding the Go -Pass can ride free. All jurors summoned to serve in Banning courthouses can ride free on Beaumont Transit Route 2, directly to and from the courthouse, by showing their current and valid juror summons badge to the bus driver. From October 2020 through October 2021, Beaumont Transit offered fare -free service as part of a Low Carbon Transit Operations Program (LCTOP) Fare Free project. Michael Baker International - 5 Triennial Performance Audit of Beaumont Transit — FYs 2019-2021 Table 1-3 Beaumont Transit Dial -A -Ride Fare Schedule Fare Category Fares One -Way $2.00 Companion $3.00 Personal Care Attendant (with ID) Free No -Show (collected during the next ride) $2.00 Child (46" tall or under accompanied by full -fare paying adult) $3.00 10 -Ride Punch Card $18.00 Source: Beaumont Transit; fares as of July 1, 2019 Fleet There were 20 vehicles in the transit fleet during the audit period: 19 fixed-route/commuter and 1 demand -response. Vehicles are wheelchair accessible with tie -downs in compliance with the ADA. Table 1-4 summarizes the Beaumont Transit fleet. Table 1-4 Beaumont Transit Fleet Year Make/Model Quantity Fuel Type Service Mode Seating Capacity 2009 C5500 Starcraft 1 CNG Fixed Route 28 (2 W/C) 2009 GMC 5500 1 CNG Fixed -Route 28 (2 W/C) 2010 C5500 Starcraft 1 CNG Fixed -Route 28 (2 W/C) 2010 Chevy C5500 Starcraft 1 Gasoline Fixed -Route 30 (2 W/C) 2010 Ford E-450 Starcraft 3 Gasoline Fixed -Route 16 (2 W/C) 2011 El Dorado National 3 Gasoline Fixed -Route 30 (2 W/C) 2011 El Dorado National 1 CNG Fixed -Route 30 (2 W/C) 2015 El Dorado National 3 CNG Fixed -Route 43 (2 W/C) 2016 Ford E-450 El Dorado National 1 CNG Demand Response 20 (2 W/C) 2016 Ford F550 El Dorado National 1 CNG Fixed Route 30 (2 W/C) 2018 EZ Rider El Dorado National 1 CNG Fixed Route 30 (2 W/C) 2019 Glaval Entourage 3 CNG Fixed Route 28 (2 W/C) Total 20 Source: Beaumont Transit As shown, Beaumont Transit's fleet includes three 16 -passenger vehicles with over 300,000 miles each and which have been in service for the past decade. Three new Ford Entourage Type E buses were purchased and delivered in FY 2020-21. A printout of the Beaumont Transit fleet in TransTrack provided to the auditor incorrectly includes three Gillig commuter buses. Beaumont Transit staff verified the incorrect listing and provided the above vehicle list. The TransTrack data should be reviewed and modified to accurately reflect the vehicle fleet. Michael Baker International - 6 Triennial Performance Audit of Beaumont Transit — FYs 2019-2021 Section 11 Operator Compliance Requirements This section of the audit report contains the analysis of Beaumont Transit's ability to comply with state requirements for continued receipt of TDA funds. The evaluation uses the Caltrans guidebook Performance Audit Guidebook for Transit Operators and Regional Transportation Planning Agencies, September 2008 (third edition) to assess transit operators. The guidebook contains a checklist of 11 measures taken from relevant sections of the PUC and the California Code of Regulations. Each of these requirements is discussed in the table below, including a description of the system's efforts to comply with the requirements. In addition, the findings from the compliance review are described in the text following the table. Table 11-1 Operator Compliance Requirements Matrix Operator Compliance Reference Compliance Efforts Requirements The transit operator has Public Utilities Code, Completion/submittal dates: submitted annual reports to the Section 99243 RTPA based upon the Uniform FY 2019: March 17, 2020 System of Accounts and Records FY 2020: February 11, 2021 established by the State FY 2021: January 31, 2022 Controller. Report is due within seven (7) months The FY 2019 Transit Operator after the end of the fiscal year Financial Transactions Report was (on or before January 31). The submitted approximately one report shall contain underlying month and a half after the data from audited financial statutory submittal date. The FY statements prepared in 2020 report was also submitted accordance with generally accepted accounting principles, if this data is available. slightly beyond the submittal date. It is also noted that a single Transit Operators Financial Transaction Report was prepared by Beaumont Transit for both fixed route and Dial -A -Ride for each of the three audit years. Since Dial -A -Ride has been designated as a specialized service for ADA-certified, senior and disabled passengers, State Controller instructions require that separate reports be submitted for each service type. Michael Baker International - 7 Triennial Performance Audit of Beaumont Transit — FYs 2019-2021 Table 11-1 Operator Compliance Requirements Matrix Operator Compliance Requirements Reference Compliance Efforts Conclusion: Partial Compliance. The operator has submitted annual fiscal and compliance audits to the RTPA and to the State Controller within 180 days following the end of the fiscal year (Dec. 27) or has received the appropriate 90 -day extension by the RTPA allowed by law. Public Utilities Code, Section 99245 Completion/submittal dates: FY 2019: May 4, 2020 FY 2020: March 29, 2021 FY 2021: March 4, 2022 Beaumont Transit requested and was granted a 90 -day extension for the FY 2020 and FY 2021 fiscal and compliance audit by RCTC as allowed by law. The FY 2019 fiscal and compliance audits was submitted after the 90 - day extension period. Conclusion: Partial Compliance. The CHP has, within the 13 months prior to each TDA claim submitted by an operator, certified the operator's compliance with Vehicle Code Section 1808.1 following a CHP inspection of the operator's terminal. Public Utilities Code, Section 99251 B Beaumont Transit participates in the California Highway Patrol (CHP) Transit Operator Compliance Program in which the CHP has conducted inspections within the 13 months prior to each TDA claim. Inspections were conducted at the City of Beaumont located at 550 East 6th Street. Inspection dates applicable to the audit period were June 4 & 6, 2018; May 20 & 29, 2019; and May 18 & 19, 2020. Conclusion: Complied. The operator's claim for TDA Public Utilities Code, As a condition of approval, Michael Baker International - 8 Triennial Performance Audit of Beaumont Transit — FYs 2019-2021 Table 11-1 Operator Compliance Requirements Matrix Operator Compliance Requirements Reference Compliance Efforts funds is submitted in compliance with rules and regulations adopted by the RTPA for such claims. Section 99261 Beaumont Transit's annual claims for Local Transportation Funds and State Transit Assistance funds are submitted in compliance with the rules and regulations adopted by RCTC. Conclusion: Complied. If an operator serves urbanized and non -urbanized areas, it has maintained a ratio of fare revenues to operating costs at least equal to the ratio determined by the rules and regulations adopted by the RTPA. Public Utilities Code, Section 99270.1 This requirement is not applicable, as Beaumont Transit only serves a nonurbanized area. Note: In the 2020 Census maps, the City will be in the RIV-SAN UZA and thus be subject to the 20 percent farebox recovery ratio in future fiscal audits, and performance audits. Conclusion: Not Applicable. The operator's operating budget has not increased by more than 15% over the preceding year, nor is there a substantial increase or decrease in the scope of operations or capital budget provisions for major new fixed facilities unless the operator has reasonably supported and substantiated the change(s). Public Utilities Code, Section 99266 Percentage change in Beaumont Transit's operating budget: FY 2019: +1.9% FY 2020: +13.6% FY 2021: -10.2% Source: City of Beaumont Annual Budgets for FYs 2019-2021. Conclusion: Complied. The operator's definitions of performance measures are consistent with Public Utilities Code Section 99247, including (a) operating cost, (b) operating cost per passenger, (c) operating Public Utilities Code, Section 99247 The Beaumont Transit's definition of performance is consistent with PUC Section 99247. A review of trip sheets generated during the audit period indicates that correct performance data are being Michael Baker International - 9 Triennial Performance Audit of Beaumont Transit — FYs 2019-2021 Table 11-1 Operator Compliance Requirements Matrix Operator Compliance Requirements Reference Compliance Efforts cost per vehicle service hour, (d) passengers per vehicle service hour, (e) passengers per vehicle service mile, (f) total passengers, (g) transit vehicle, (h) vehicle service hours, (i) vehicle service miles, and (j) vehicle service hours per employee. collected. Conclusion: Complied. If the operator serves an urbanized area, it has maintained a ratio of fare revenues to operating costs at least equal to one -fifth (20 percent), unless it is in a county with a population of less than 500,000, in which case it must maintain a ratio of fare revenues to operating costs of at least equal to three -twentieths (15 percent), if so determined by the RTPA. Public Utilities Code, Sections 99268.2, 99268.3, 99268.12, 99270.1 This requirement is not applicable, as Beaumont Transit only serves a nonurbanized area. Conclusion: Not Applicable. If the operator serves a rural area, or provides exclusive services to elderly and disabled persons, it has maintained a ratio of fare revenues to operating costs at least equal to one -tenth (10 percent). Public Utilities Code, Sections 99268.2, 99268.4, 99268.5 Operating ratios for Beaumont Transit using audited data were as follows: FY 2019: 11.68% FY 2020: 7.82% FY 2021: 22.52% Audited farebox ratio accounts for local support revenue and exclusion of new or expanded service. Beaumont Transit is subject to a system -wide farebox standard of 10 percent. The system did not meet the minimum farebox ratio in FY 2020. Michael Baker International - 10 Triennial Performance Audit of Beaumont Transit - FYs 2019-2021 Table 11-1 Operator Compliance Requirements Matrix Operator Compliance Requirements Reference Compliance Efforts Source: City of Beaumont Transit System Financial Statements (audited). Conclusion: Partial Compliance. The current cost of the operator's retirement system is fully funded with respect to the officers and employees of its public transportation system, or the operator is implementing a plan approved by the RTPA which will fully fund the retirement system within 40 years. Public Utilities Code, Section 99271 To be eligible for TDA funds, the annual TDA claims form requires a sign -off from the transit claimant to comply with standard assurances, one of which is that the City of Beaumont's retirement system is funded. City staff's retirement is funded through the California Public Employees' Retirement System. Conclusion: Complied. If the operator receives state transit assistance funds, the operator makes full use of funds available to it under the Urban Mass Transportation Act of 1964 before TDA claims are granted. California Code of Regulations, Section 6754(a)(3) As a recipient of State Transit Assistance funds, Beaumont Transit does not utilize federal funds (other than those funds that are passed through RCTC). Conclusion: Not Applicable. Michael Baker International - 11 Triennial Performance Audit of Beaumont Transit — FYs 2019-2021 Findings and Observations from Operator Compliance Requirements Matrix 1. Of the compliance requirements pertaining to Beaumont Transit, the operator fully complied with five out of the eight applicable requirements. Beaumont Transit was in partial compliance with regard to the timely completion and submittal of its Transit Operator Financial Transactions Report to the State Controller, annual fiscal and compliance audits, and farebox recovery attainment. Three additional compliance requirements did not apply to the operator (intermediate and urban farebox recovery ratio and the use of federal funds). 2. Based on the farebox calculation in the annual Transit System Financial Statements (audited), Beaumont's farebox recovery ratio met or exceeded the required minimum standard of 10 percent in two of the three audit years. The system -wide farebox recovery ratios were 11.68 percent in FY 2019, 7.82 percent in FY 2020, and 22.52 percent in FY 2021.1 It is noted that the audited farebox ratio in FY 2020 was adversely impacted from the COVID-19 pandemic and state shelter -in -place order as well as the suspension of fare collection. Beaumont Transit utilized an allowable combination of additional local support revenues plus exclusion of new services costs in order to meet minimum farebox recovery attainment in FY 2021. 3. Beaumont Transit participates in the CHP Transit Operator Compliance Program in which the CHP conducted inspections within the 13 months prior to each TDA claim. The CHP inspection reports submitted for review were found to be satisfactory. 4. The annual operating budget did not increase above 15 percent but did exhibit fluctuations during the audit period due to COVID-19 pandemic impacts. Beaumont saw increases of 1.9 percent and 13.6 percent, respectively, during FY 2019 and FY 2020. The budget exhibited a decrease of 10.2 percent in FY 2021. The FY 2020 budgetary increase is attributed to higher salaries and fringe benefits. 1 AB 90, passed into law and signed by the governor in June 2020 in response to the COVID-19 pandemic impacts, prohibits the imposition of penalties on a transit operator that does not maintain the required ratio of fare revenues to operating cost during FY 2019-20 or FY 2020-21. Michael Baker International - 12 Triennial Performance Audit of Beaumont Transit — FYs 2019-2021 Section 111 Prior Triennial Performance Recommendations Beaumont Transit's efforts to implement the recommendations made in the FY 2016-2018 triennial performance audit are examined in this section of the report. For this purpose, each prior recommendation for the agency is described, followed by a discussion of Beaumont Transit's efforts to implement the recommendation. Conclusions concerning the extent to which the recommendations have been adopted by the agency are then presented. Prior Recommendation 1 Prepare and submit separate State Controller Transit Operators Financial Transactions Reports for general public transit and specialized service. Background: This recommendation is carried over from the prior performance audit. Beaumont's annual Transit Operators Financial Transactions Report to the State Controller has historically combined information for both general public (fixed route/commuter) and specialized service for seniors and persons with disabilities (ADA-certified and noncertified). Although the State Controller's Office has not provided notice to the City, written instructions by the state to prepare this particular report require separate reporting of these modes. In the General Instruction Form completed by Beaumont Transit, a selection must be made as to which mode of transit is represented in the report. The options are general public use or elderly/disabled. The Transit Operators Financial Transactions Report instructions contain the following passages under the General Instruction Form: Transit operators providing two types of service, (general public use and transit service exclusively for the elderly/handicapped) must complete a separate report for each type of service. ... a separate report must be filed for each type of service provided: General Public Use Service or Specialized Service exclusive for elderly and/or handicapped. For example, if an agency has received Article 4 and Article 8(c) monies to provide General Public Use Service, the agency should submit one report. If that agency has also received Article 4 monies to provide Specialized Service for the elderly and/or handicapped, then a report must be submitted for the Specialized Service operations. The submission of separate reports to the State Controller will further demonstrate Beaumont's proactive approach to compliance with state reporting instructions. Michael Baker International - 13 Triennial Performance Audit of Beaumont Transit — FYs 2019-2021 Actions taken by Beaumont Transit A review of the Transit Operators Financial Transactions Reports completed and submitted by the City to the State Controller revealed that Beaumont Transit has continued its practice of including information for both general public (Pass Transit fixed route) and specialized service for seniors and persons with disabilities (ADA-certified and noncertified) in the same report. Since Beaumont Dial -a -Ride is considered a specialized service for ADA-certified and seniors, the City would still need to complete the report entitled "Transit Operators Financial Transactions — Specialized Service." Conclusion This recommendation has not been implemented and is carried forward for full implementation. Beaumont Transit should coordinate preparation of separate reports with the City Finance Department to complete separate financial reporting of general public and specialized services. This will include obtaining a new identification number for Dial -A -Ride reports from the State Controller's Office, and separating financial, asset, and operating data between the two modes in their respective SCO reports. Prior Recommendation 2 Continue to work with RTA and Mt. San Jacinto College on fare revenue reimbursement from the College Go -Pass Revenue Agreement. Background: Beaumont Transit had taken steps to reach a fare revenue reimbursement agreement with Mt. San Jacinto College. In the meantime, Beaumont Transit had continued to honor RTA's Go -Pass without an agreement in place. Under the Go -Pass program, Mt. San Jacinto College students get unlimited rides on RTA buses. Beaumont Transit was anticipating that the Mt. San Jacinto College student body would vote on the separate fare revenue agreement in early 2018; however, the vote never materialized. It was recommended that Beaumont Transit continue to work with the college and RTA on having such an agreement in place as a farebox enhancement measure. Actions taken by the Beaumont Transit Beaumont Transit approached and met with representatives of Mt. San Jacinto College and RTA about executing a fare revenue agreement that would benefit Beaumont Transit. The parties were not able to come to an agreement due to a lack of interest on the part of the college and RTA. Beaumont Transit will propose in the FY 2023 Short -Range Transit Plan to remove the Go - Pass program from the fare schedule. Michael Baker International - 14 Triennial Performance Audit of Beaumont Transit — FYs 2019-2021 Conclusion This recommendation has not been implemented and is no longer applicable due to inability to secure a fare revenue agreement. Prior Recommendation 3 Include a link to Banning Transit on the Beaumont Transit web page. Background: The Memorandum of Understanding (MOU) or cooperative services agreement between the Cities of Banning and Beaumont that has been in effect since December 2002 was terminated during the audit period and involved phasing out the Pass Transit brand and the removal of Beaumont Transit Route 2 from operating within the City of Banning. In its place, an interagency service agreement between the two cities was adopted in July 2019, which provides continued cooperation of both cities in "providing the public with specific transit information, advertising the operations of both agencies and promoting the general use of transit." Pursuant to the interagency service agreement with the City of Banning, it was recommended that Beaumont include a link to Banning Connect on its transit page. Actions taken by Beaumont Transit Beaumont Transit's website and transit page (https://www.beaumontca.gov/90/Transit) were updated during the audit period. Included on the updated transit webpage are regional service provider links to Banning Connect as well as RTA, SunLine Transit Agency, OmniTrans, MetroLink, and 1E511 agency websites. Conclusion This recommendation has been implemented. Prior Recommendation 4 Report mechanical road calls and other vehicle operation metrics in TransTrack Manager. Background: The Transit Division indicated that system road calls were not being regularly tracked. A mechanical failure of a bus in revenue service that causes a delay to service, and which necessitates removing the bus from service until repairs are made, can impact overall system performance. Transit performance data are routinely entered into TransTrack for trends analysis across the different service modes. TransTrack features modules that track customer service complaints, Dial -A -Ride no-shows, accidents, and mechanical road calls. The recent implementation of the Dossier fleet maintenance software and Zonar should allow for road call data to be downloaded or migrated into TransTrack. It was recommended that the Transit Division start reporting road call data in TransTrack. Michael Baker International - 15 Triennial Performance Audit of Beaumont Transit — FYs 2019-2021 Actions taken by Beaumont Transit Beaumont Transit has been tracking system road calls on an Excel spreadsheet, which was provided for the purposes of this performance audit. The road calls are categorized according to the National Transit Database definitions. Commencing in FY 2021, Beaumont started to report mechanical road calls in TransTrack Manager. Conclusion This recommendation has been implemented. Michael Baker International - 16 Triennial Performance Audit of Beaumont Transit — FYs 2019-2021 Section IV TDA Performance Indicators This section reviews Beaumont Transit's performance in providing transit service to the community in an efficient and effective manner. The TDA requires that at least five specific performance indicators be reported, which are contained in the following tables. Farebox recovery ratio is not one of the five specific indicators but is a requirement for continued TDA funding. Therefore, farebox calculation is also included. Two additional performance indicators that gauge service effectiveness and revenue, operating cost per mile and average fare per passenger, are included as well. Findings from the analysis are contained in the section following the tables. Tables IV -1 through IV -3 provide the performance indicators for Beaumont Transit system -wide, fixed route, and Dial -A -Ride. Charts are also provided to depict the trends in the indicators. It is noted that the system -wide operating costs and fare revenues are based on audited data. Total operating costs and fare revenues are shown in the tables and include the exempted services (e.g., new or extended services) to illustrate overall expenses and revenue for the transit system. The exempted services are then excluded from expenses and revenue to generate the farebox recovery ratios as allowed by the TDA and shown in the audit figures. Michael Baker International - 17 Triennial Performance Audit of Beaumont Transit - FYs 2019-2021 Table IV -1 Beaumont Transit TDA Performance Indicators System -wide Audit Period Performance Data and Indicators FY 2018 FY 2019 FY 2020 FY 2021 % Change FY 2018-2021 Operating Cost (less depreciation)(�) $2,679,451 $2,846,002 $2,701,869 $2,646,509 -1.2% Adjusted Operating Costs (less depreciation & exclusions)(�) $2,221,266 $2,302,689 $1,508,389 $1,290,883 -41.9% Total Passengers 197,775 197,775 108,169 39,213 -80.2% Vehicle Service Hours 24,791 24,771 18,437 15,106 -39.1% Vehicle Service Miles 413,009 413,009 392,585 336,542 -18.5% Employee FTEs 24 24 26 24 0.0% Total Passenger Fares $234,182 $184,282 $174,542 $18,116 -92.3% Passenger Fare Exclusions (new/extended services) $32,371 $49,675 $58,940 $9,394 -71.0% Other Fare Revenue Contributions $0 $134,444 $2,288 $281,999 Total Fare Revenue with exclusions $201,811 $269,051 $117,890 $290,721 44.1% Operating Cost per Passenger(2) $13.55 $14.39 $24.98 $67.49 398.2% Operating Cost per Vehicle Service Hour(2) $108.08 $114.89 $146.55 $175.20 62.1% Operating Cost per Vehicle Service Mile(2) $6.49 $6.89 $6.88 $7.86 21.2% Passengers per Vehicle Service Hour 8.0 8.0 5.9 2.6 -67.5% Passengers per Vehicle Service Mile 0.48 0.48 0.28 0.12 -75.7% Vehicle Service Hours per Employee 1,033.0 1,032.1 709.1 629.4 -39.1% Average Fare per Passenger $1.18 $0.93 $1.61 $0.46 -61.0% Farebox Recovery Ratio (passenger fares only)i2l 8.74% 6.48% 6.46% 0.68% -92.2% Adjusted Farebox Recovery Ratio (adjusted operating costs & other fare revenue contributions)i3i 9.09% 11.68% 7.82% 22.52% 147.9% Consumer Price Index - (CPI-AII) (4) 3.5% 3.4% 2.5% 2.0% 8.1% Source: City of Beaumont Transit System Basic Financial Statements (audited); Transit Operator Financial Transactions Report (1) System -wide operating costs are as shown in Basic Financial Statements. Modal operational costs in subsequent tables are noted in Beaumont Transit System internal financial reports. Modal operational costs do not sum to operational costs due to differing data sources. (2) Calculation uses operating costs less depreciation. (3) Calculation uses adjusted operational costs, per the audited financial statements. (4) Percentage change in the three-year CPI is based on the difference between the FY 2021 price index and FY 2018 price index. The annual CPI is the change in the price index from the prior year. Michael Baker International - 18 Triennial Performance Audit of Beaumont Transit - FYs 2019-2021 Table IV -2 Beaumont Transit TDA Performance Indicators Fixed Route Audit Period Performance Data and Indicators FY 2018 FY 2019 FY 2020 FY 2021 % Change FY 2018-2021 Operating Cost' $2,438,004 $2,630,095 $2,457,439 $2,462,029 1.0% Total Passengers 187,489 187,489 102,349 37,130 -80.2% Vehicle Service Hours 21,605 21,605 16,621 14,453 -33.1% Vehicle Service Miles 380,714 380,714 369,039 322,449 -15.3% Employee FTEs 22 22 24 22 0.0% Passenger Fares $219,496 $164,121 $162,239 $12,373 -94.4% Operating Cost per Passenger(2) $13.00 $14.03 $24.01 $66.31 409.9% Operating Cost per Vehicle Service Hour(2) $112.84 $121.74 $147.85 $170.35 51.0% Operating Cost per Vehicle Service Mile(2) $6.40 $6.91 $6.66 $7.64 19.2% Passengers per Vehicle Service Hour 8.7 8.7 6.2 2.6 -70.4% Passengers per Vehicle Service Mile 0.49 0.49 0.28 0.12 -76.6% Vehicle Service Hours per Employee 982.0 982.0 692.5 657.0 -33.1% Average Fare per Passenger $1.17 $0.88 $1.59 $0.33 -71.5% Farebox Recovery Ratio (Total Fixed Route Mode Only)i2i 9.00% 6.24% 6.60% 0.50% -94.4% Consumer Price Index - (CPI-AII) 3.5% 3.4% 2.5% 2.0% 8.1% Source: City of Beaumont Transit System Financial Statements (audited); Transit Operator Financial Transactions; Beaumont Transit System Internal Financial Reports (1) Modal operational costs are as noted in Beaumont Transit System internal financial reports. Modal operational costs do not sum to operational costs due to differing data sources. (2) Calculation uses modal operational cost. Michael Baker International - 19 Triennial Performance Audit of Beaumont Transit - FYs 2019-2021 Table IV -3 Beaumont Transit TDA Performance Indicators Dial -A -Ride Audit Period Performance Data and Indicators FY 2018 FY 2019 FY 2020 FY 2021 % Change FY 2018-2021 Operating Cost(11 $241,447 $215,907 $244,431 $184,480 -23.6% Total Passengers 10,286 10,286 5,820 2,083 -79.7% Vehicle Service Hours 3,186 3,166 1,816 653 -79.5% Vehicle Service Miles 32,295 32,295 23,546 14,093 -56.4% Employee FTEs 2 2 2 2 0.0% Passenger Fares $14,686 $20,161 $12,303 $5,743 -60.9% Operating Cost per Passenger(2) $23.47 $20.99 $42.00 $88.56 277.3% Operating Cost per Vehicle Service Hour(2) $75.78 $68.20 $134.60 $282.51 272.8% Operating Cost per Vehicle Service Mile(2) $7.48 $6.69 $10.38 $13.09 75.1% Passengers per Vehicle Service Hour 3.2 3.2 3.2 3.2 -1.2% Passengers per Vehicle Service Mile 0.32 0.32 0.25 0.15 -53.6% Vehicle Service Hours per Employee 1,593.0 1,583.0 908.0 326.5 -79.5% Average Fare per Passenger $1.43 $1.96 $2.11 $2.76 93.1% Farebox Recovery Ratio(2) 6.08% 9.34% 5.03% 3.11% -48.8% Consumer Price Index - (CPI-AII) 3.5% 3.4% 2.5% 2.0% 8.1% Source: City of Beaumont Transit System Financial Statements (audited); Transit Operator Financial Transactions; Beaumont Transit System Internal Financial Reports (1) Modal operational costs are as noted in Beaumont Transit System internal financial reports. Modal operational costs do not sum to operational costs due to differing data sources. (2) Calculation uses modal operational cost. Michael Baker International - 20 Triennial Performance Audit of Beaumont Transit — FYs 2019-2021 Graph IV -1 Operating Costs (less depreciation, without exemptions) System -wide, Fixed Route, and Dial -A -Ride S3,000,000 52.500 000 52.000,000 51.500,000 51.000.000 5500 000 S- 7 co nn, 200,000 150,000 100,000 50,000 ■ FY 2018 ■ FY 2019 ■ FY 2020 ■ Systemwide s Fixed Route ■ Dial -A -Ride Graph IV -2 Ridership System -wide, Fixed Route, and Dial -A -Ride — It• IIII — FY 2018 FY 2019 i • FY 2021 1 FY 2020 FY 2ut1 ■ Systemwide ■ Fixed Route ■ Dial -A -Ride Michael Baker International - 21 Triennial Performance Audit of Beaumont Transit - FYs 2019-2021 Graph IV -3 Operating Cost per Passenger System -wide, Fixed Route, and Dial -A -Ride 5100.00 590.00 S80.00 570.00 560.00 550.00 540.00 530.00 520.00 510.00 5 - FY 2018 FY 2019 11 1 FY 2020 FY 2021 ■ Systemwide ■ Fixed Route ■ Dial -A -Ride S300.00 5250.00 5200.00 5150.00 S 100.00 S50.00 S - Graph IV -4 Operating Cost per Vehicle Service Hour System -wide, Fixed Route, and Dial -A -Ride III FY 2018 FY 2019 FY 2020 ■ Systemwide ■ Fixed Route • Dial -A -Ride FY 2021 Michael Baker International - 22 Triennial Performance Audit of Beaumont Transit — FYs 2019-2021 Graph IV -5 Passengers per Vehicle Service Hour System -wide, Fixed Route, and Dial -A -Ride 10.0 9.0 8.0 7.0 6.0 5.0 4.0 3.0 2.0 1.0 0.0 FY 2018 FY 2019 FY 2020 FY 2021 • Systemwide ■ Fixed Route • Dial -A -Ride Graph IV -6 Fare Recovery Ratio (passenger fares & operating costs, less depreciation) System -wide, Fixed Route, and Dial -A -Ride 10.00% 9.00% 8.00% 7.00% 6.00% 5.00% 4.00% 3.00% 2.00% 1.00% 0.00% FY 2018 FY 2019 FY 2020 ■ Systemwide • Fixed Route • Dial -A -Ride ■ 111 FY 2021 Michael Baker International - 23 Triennial Performance Audit of Beaumont Transit — FYs 2019-2021 Graph IV -7 Adjusted Fare Recovery Ratio (adjusted operating costs & other fare revenue contributions) System -wide 25.00% 20.00% 15.004%0 10.00% 5.00% 0.00% FY 2018 FY 2019 • Systemwide FY 2020 FY 2021 Michael Baker International - 24 Triennial Performance Audit of Beaumont Transit - FYs 2019-2021 Findings from Verification of TDA Performance Indicators It is noted that adverse impacts on transit service from the COVID-19 pandemic and statewide shelter -in -place order are reflected in various performance measure trends described below. The operator's response during this period is contained in the functional review section of this audit. 1. Operating cost per vehicle service hour, an indicator of cost efficiency, increased 62.1 percent system -wide from $108.08 in the FY 2018 base year to $175.20 in FY 2021. System- wide operating costs (based on audited data) decreased 1.2 percent during the period, while vehicle service hours decreased by 39.1 percent. The average annual decrease in operating costs was 0.3 percent. 2. Operating cost per passenger, an indicator of cost effectiveness, increased 398.2 percent system -wide from $13.55 in FY 2018 to $67.49 in FY 2021. Ridership system -wide decreased 80.2 percent during the review period from 197,775 passengers in FY 2018 to 39,213 passengers in FY 2021, while operating costs decreased by 1.2 percent over the same period. 3. Passengers per vehicle service hour, which measures the effectiveness of the service delivered, decreased 67.5 percent between FY 2018 and FY 2021 system -wide from 8 to 2.6 passengers per hour. Fixed -route operations were consistent with this trend, with a decrease of 70.4 percent over the same period from 8.7 to 2.6 passengers per hour. In contrast, Dial -A - Ride operations exhibited a lesser decrease of 1.2 percent from 3.23 to 3.19 passengers per hour. The trend in this indicator demonstrates a significant decline in passenger trips as compared to the decline in vehicle service hours. 4. Passengers per vehicle service mile, another indicator of service effectiveness, decreased 75.7 percent between FY 2018 and FY 2021 system -wide from 0.48 to 0.12 passengers per mile. For fixed -route operations, the number of passengers per service mile decreased by 76.6 percent from 0.49 to 0.12. Passengers per service mile on Dial -A -Ride decreased by 53.6 percent during the same period, from 0.32 in FY 2018 to 0.15 in FY 2021. From the FY 2018 base year to FY 2021, actual vehicle service miles decreased 18.5 percent system -wide. 5. Vehicle service hours per employee decreased 39.1 percent system -wide between FY 2018 and FY 2021. This decrease was associated with a net decrease in vehicle service hours for both fixed -route and Dial -A -Ride services, and net employee full-time equivalents (FTE) remaining constant over the audit period. This measure is based on the number of employee FTEs using employee pay hours from the State Controller Report and dividing by 2,000 hours per employee. 6. Farebox recovery calculated, taking into consideration passenger fares, fare exclusions, and adjusted operating costs, less depreciation and exclusions, exhibited an overall increase of 147.9 percent system -wide between FY 2018 and FY 2021 from 9.09 percent to 22.52 percent. System -wide, passenger fare revenues decreased 92.3 percent based on audited Michael Baker International - 25 Triennial Performance Audit of Beaumont Transit — FYs 2019-2021 data while operating costs, less depreciation, decreased 1.2 percent. Adjusted operating costs, less depreciation and exclusions, decreased 41.9 percent, indicating that route exclusions increased over the audit period. Other fare contributions also increased substantially over the audit period, yielding an over 44.1 percent increase to total fare revenues system -wide. At a modal level, fixed -route farebox recovery decreased 94.4 percent whereas Dial -A -Ride farebox recovery decreased 48.8 percent. Conclusion from the Verification of TDA Performance Indicators Despite the introduction of new and expanded services along with the associated increases in vehicle service hours and miles, ridership has decreased across both service modes. FY 2019-20 was the first year that Pass Transit split up into Banning Connect and Beaumont Transit, which essentially eliminated Beaumont's ability to effectively get passengers to social service locations in Banning without transfers. The COVID-19 pandemic and statewide shelter -in -place order starting in March 2020 further contributed to the performance decline including suspension of fare collection. After an increase in demand over the prior audit period, passenger trips exhibited an annual decline of 36.4 percent from the FY 2018 base year to FY 2021. The decline on fixed route mirrored the system -wide percentage. On the other hand, average annual decreases in Dial -A - Ride ridership averaged a comparable 35.9 percent. Fixed -route operating costs grew 1.0 percent during the reporting period while Dial -A -Ride operating costs decreased 23.6 percent. The modal changes in cost do not include exclusions for new routes or expanded services. Vehicle service hours decreased overall by 39.1 percent and vehicle service miles decreased by 18.5 percent. Farebox recovery should be monitored closely as the audited ratios with exclusions have hovered or dipped below the minimum standard of 10 percent system -wide. To aid the farebox with local revenue support, in FY 2020, Beaumont purchased a 6.14 -acre parcel in the City's southwest industrial area, in partnership with the Wastewater Fund. This property includes a 28,000 -square -foot public fueling station for compressed natural gas vehicles, which serves as a critical revenue source for Beaumont Transit's farebox recovery. In addition, Beaumont Transit completed a Comprehensive Operational Analysis (COA) in November 2020, which contained a three-phase implementation program to improve on -time performance and increase service into areas of growth. Michael Baker International - 26 Triennial Performance Audit of Beaumont Transit — FYs 2019-2021 Section V Review of Operator Functions This section provides an in-depth review of various functions in the Beaumont Transit System. The review highlights accomplishments, issues, and/or challenges that were determined during the audit period. The following functions were reviewed at the City of Beaumont: • Operations • Maintenance • Planning • Marketing • General Administration and Management Within some departments are subfunctions that require review as well, such as Grants Administration that falls under General Administration. Operations Beaumont Transit has continued to expand and harmonize its transit system to meet the growing area population and service demand from commuters and students. The system was able to sustain basic service despite the COVID-19 pandemic impacts. Routes operate on hourly headways, but as more residents and economic development move into the area, Beaumont Transit sees the potential for implementation of new routes and amenities in the future. An interagency services agreement was adopted between the Cities of Beaumont and Banning in July 2019. The new agreement allows for interline transfers between the two systems at the Walmart in Beaumont and the San Gorgonio Memorial Hospital in Banning. Beaumont limits Banning to no more than three buses per hour at Walmart and Banning will limit Beaumont to no more than three buses per hour at the San Gorgonio Memorial Hospital bus stop. Route 3 has grown to be one of the busiest routes in the system due to the new subdivisions and requests for service in Cherry Valley. Tripper service was added to Route 3 to service Beaumont High School and Cherry Valley. Route 4 was realigned to run in an east —west orientation, while Route 9 was implemented in response to the high student ridership in southern Beaumont. A deviation was built into Route 4 to serve the Amazon Fulfillment Center located at 1010 West 4th Street. Beaumont Transit also placed a bus stop at the Amazon facility. Routes 7 and 9 operate the morning and afternoon peak hours when school is in session. Route 3/4 combines Routes 3 and 4 and operates hourly headway service on Saturday and limited Michael Baker International - 27 Triennial Performance Audit of Beaumont Transit — FYs 2019-2021 service on holidays. More than 50 percent of the local fixed -route ridership is composed of students. Beaumont Transit also interlines with RTA, Banning Connect, and SunLine routes at Walmart, which serves as the main transit hub for the system. At the request of the City of Calimesa and RTA, Beaumont Transit implemented Route 136 to Calimesa in FY 2017. The route was designed with one -hour headways and an alternative route during peak morning afternoon hours to serve local students attending the Yucaipa School District. The route only comprised 1 percent of system -wide trips and was eventually discontinued due to low ridership in its third year of service (FY 2019). A second commuter route, Commuter Link 125, was implemented in September 2018 to provide service to the Loma Linda Veterans Administration Hospital and Kaiser in Redlands. Commuter Link Route 120, which was implemented in 2013, was realigned to provide more direct service to the San Bernardino Transit Center. This has allowed for better coordination and interline connections with Omnitrans pursuant to an interagency agreement. In its capacity as an emergency service provider, Beaumont Transit was dispatched to evacuate mobile home communities impacted by the Apple Fire that burned through the Cherry Valley area north of Beaumont in the summer of 2020. An evacuation center was established at Beaumont High School. Passenger amenities include refurbished bus shelters at the Walmart transit hub. The shelters are larger with lean bars installed. Beaumont Transit has applied for LCTOP funding to make improvements at three busy bus stop locations and for a free fare promotion. Vehicles operated on the commuter routes are equipped with USB ports and luggage racks. Beaumont Transit also received delivery of two electric buses outfitted with a distinctive wrap containing a green stripe and electric bolt livery. Beaumont Transit is looking to procure two EZ Rider buses for the commuter routes. Transit operations are administered by the Community Services Department from Building D at the Beaumont Civic Center Complex from the Fleet Maintenance facility at 550 North California Avenue. A surveillance camera system was installed with 24 -hour monitoring of the bus yard by the Police Department. The City's Transit Division is looking to consolidate its administration, operations, and fleet maintenance functions on a parcel that the City has acquired in an industrial area of town at the intersection of West 4th Street and Veile Avenue. The facility would also feature a CNG fueling station open to the general public with plans to include an electric vehicle charging station in order to meet the state's zero -emission vehicle mandates. Beaumont Transit has seen an increased number of disabled and wheelchair -bound passengers. Delivery of newer electric vehicles to replace aging ones will be able to accommodate three wheelchairs each. In response to a prior audit recommendation, Beaumont Transit reformatted Michael Baker International - 28 Triennial Performance Audit of Beaumont Transit — FYs 2019-2021 its trip sheets to account for the number of wheelchair -bound and disabled passengers, given the higher demand. All buses are equipped with five surveillance cameras and Motorola radio systems. The radio system was upgraded as part of an overall upgrade to the City's communication system spearheaded by the City Police Department. The upgrade to a five -channel trunked 800 - megahertz system has allowed the Beaumont Police and other City departments to be on the same frequency with other county, state, and federal public safety agencies in the event of a major emergency. In addition, the new radio system has allowed for better reception in more remote areas of the service area. Dial -A -Ride serves Beaumont and the unincorporated community of Cherry Valley with service provided on Sunday for ADA-certified passengers. Three peak vehicles are used for Dial -A -Ride. ADA-certified passengers have priority over other eligible riders on Dial -A -Ride, including seniors, when the service accepts both ADA and non-ADA riders. Beaumont Transit uses a self - certification process with professional verification and accepts ADA certification by the RTA. This allows Beaumont to work under the umbrella of RTA's ADA policy as a provider of ADA paratransit. There have been no ADA denials reported. Also, according to the City's website, Beaumont Transit charges a cancellation fee if inadequate notice to cancel is given by the passenger. Beaumont utilizes DoubleMap commuter -aided dispatching with an automatic vehicle locator feature for its fixed and Commuter Link routes. DoubleMap provides real-time bus data which are utilized to track on -time performance. On -time performance has averaged 92 percent for fixed -route and commuter services. Trip Master software is used to schedule Dial -A -Ride trips, generating manifests and tracking no- shows. The Trip Master software contains a module that allows for electronic prepayment of fares. Prior to the adoption of Trip Master, Beaumont Transit utilized Schedule VIEW and Excel spreadsheets for trip scheduling. Driver trip sheets for both service modes include sections for recording the passenger count and fare categories, fuel mileage, revenue hours and miles, and yard hours and miles. The yard hours and miles include deadhead hours and mileage. Drivers also use Samsung -branded tablets to assist with routing and communications with dispatch. Vehicles are equipped with Diamond vaulted fareboxes. At the end of each shift, drivers pull out the vaults but do not handle the revenues. The vaults automatically shut and lock upon removal. The vaults are then placed into a locker and are removed for counting the following day by two Transit Division employees and reconciled with the trip sheets. The count is entered into a computer system and the revenues are sealed for deposit. The Finance Department receives a copy of the deposit record and matches it up with the deposit slip for comparison. Beaumont Transit implemented the Token Transit mobile ticketing platform for online pass and ticket purchases at the beginning of FY 2019. Token Transit receives a 10 percent commission on fares in excess of $2.00 per trip. For all other transactions under $2.00, the fee is $0.06 plus 7 Michael Baker International - 29 Triennial Performance Audit of Beaumont Transit — FYs 2019-2021 percent of the purchase. In addition, Beaumont phased out punch card passes, which were used by students. COVID-19 Pandemic Impacts As impacts from the novel coronavirus started to be realized in California, a state of emergency was declared on March 4, 2020. Subsequently, a mandatory statewide shelter -in -place order was implemented on March 19 of the same year. In response, Beaumont Transit implemented measures and protocols to mitigate the spread of the virus. Fare collection was suspended in March 2020. Beaumont Transit installed driver barriers, enforced mandated masking protocols, and implemented enhanced cleaning measures. During the pandemic, Route 3/4, which generally operates Saturdays, was expanded to operate Monday through Saturday; Commuter Routes 120 and 125 were combined; and Route 2 was eventually eliminated. In addition, office personnel began working from home and drivers were given an opportunity to continue working by doing other tasks since certain routes were suspended. This included shifting some drivers temporarily to assist other City departments, like Parks and Recreation, during transit downtimes. These necessary activities in response to the rapidly evolving COVID-19 pandemic condition resulted in severe impacts on performance trends, which were pervasive throughout the transit industry during the fourth quarter of FY 2020 and most of FY 2021. Fare collection resumed on all service modes effective October 2021. Personnel Beaumont Transit personnel are City employees. The Transit Division is composed of a part-time transit director, part-time assistant director, half-time management analyst, operations manager/scheduler, dispatcher, vehicle maintenance supervisor, 12 full-time equivalent drivers, and 4 full-time equivalent mechanics.2 Drivers and nonexempt employees are represented by Service Employees International Union (SEIU), Local 721. In FY 2021, an operations manager position was created with the promotion of the operations supervisor. The operations manager now oversees all transit operations including vehicle maintenance. Staff turnover and attrition were minimal prior to the pandemic. In FY 2021, Beaumont Transit hired two drivers and saw the departure of six part-time drivers which resulted in a driver shortage during portions of the pandemic. Prospective drivers are recruited through job postings at City Hall and on the City's website as well as through newspaper classified advertising. The City has also utilized GovernmentJobs.com through the NeoGov online platform as a recruitment tool. Candidates are required to submit an H-6 printout from the Department of Motor Vehicles as well as undergoing an interview, background checks, Department of Transportation medical clearance, and fingerprinting. During the audit period, in particular during COVID-19, candidate no-shows for interviews increased to about half, a trend driven by many factors such as availability of other employment, government 2 Vehicle maintenance staff service all City vehicles including transit. Michael Baker International - 30 Triennial Performance Audit of Beaumont Transit — FYs 2019-2021 stimulus checks and unemployment benefits, and required drug and alcohol tests. Drivers are required to have a Class B license with a passenger endorsement. School bus operator experience is considered a plus. Training consists of 40 hours behind -the -wheel instruction. There are two driver trainers on staff. Drivers also undergo sensitivity training that includes wheelchair securement, as well as sessions from the CHP and quarterly police training. Maintenance Vehicle maintenance for Beaumont Transit is conducted by the City. Preventive maintenance inspections (PMIs) are performed on a 6,000 -mile or 90 -day inspection schedule. Tune-ups are performed every three months on the Cummins powered CNG buses. Diesel vehicles are certified annually in October. Fire suppression systems are inspected every six months and CNG tanks are inspected every 36,000 miles. Bus vehicle maintenance occurs at the City Fleet Maintenance facility located at 550 North California Avenue. The garage has three service bays; however, the service bays cannot accommodate the vehicles due to their size. Therefore, a portable lift is used to service the vehicles outside. The City has been seeking Automotive Service Excellence certification for its mechanics. A —Z Bus Sales offers wheelchair lift maintenance training. Beaumont Transit utilizes the Dossier fleet maintenance software program, which operates on a web -based platform. In addition, Beaumont Transit acquired Zonar for pre- and post -trip inspections. Vehicle parts are ordered in bulk from a local vendor, O'Reilly Auto Parts, located at 695 East 6th Street in Beaumont. Inventory cycle counts are conducted on an annual basis. Beaumont Transit has reported supply chain issues with Ford vehicle parts. Flyers Energy is the primary fuel vendor. The CNG vehicles are fueled at stations at the Beaumont Unified School District's transportation yard, located at 1001 Cougar Way. Under construction is a dedicated $1.5 million CNG fueling facility located on a parcel at the intersection of West 4th Street and Veile Avenue. The new facility eliminates Beaumont Transit's reliance and dependence on the limited fueling available at the school district. Fueling the CNG buses has been problematic and, more frequently than not, the school district station is unavailable, forcing the fleet to fuel at stations located as far away as Hemet and Moreno Valley. Additionally, the parcel will include slow -fill stations for each CNG bus in the fleet, with room for expansion, giving Beaumont Transit the ability to fuel CNG vehicles during non -operational hours. The CHP is responsible for certifying Beaumont's maintenance facilities and inspecting vehicles on an annual basis. Inspections conducted during the audit period were rated satisfactory. Road call data were not provided by the operator. The recent implementation of the Dossier fleet maintenance software and Zonar allowed for road call data to be downloaded into TransTrack. Beaumont Transit started reporting road call data in TransTrack pursuant to a prior audit recommendation. Michael Baker International - 31 Triennial Performance Audit of Beaumont Transit — FYs 2019-2021 Planning Beaumont Transit prepares a Short -Range Transit Plan (SRTP) on an annual basis. The SRTP covers a three-year planning horizon and includes a system overview; services and performance analysis for each route and service provided; service changes; and financial and capital plans. Under the Existing Service and Route Performance chapter, a series of recommendations for service improvements is presented for each route or program. Performance data from TransTrack Manager is also included to provide an annual comparison. In adhering to the SRTP analysis element, Beaumont must meet at least four out of seven discretionary performance indicators. There is one mandatory indicator, which is the farebox recovery ratio set at 10 percent. Using the SRTP covering FY 2020-21 through FY 2022-23, Table V-1 summarizes the FY 2020-21 performance targets. Beaumont met five out of the eight performance indicator targets. Table V-1 Beaumont Transit Performance Targets Performance Indicators FY 2020-21 Target Actual Performance Met Target Farebox Recovery >=10.00% 14.43%* Yes Operating Cost Per Revenue Hour <=$72.21 $104.50 No Subsidy Per Passenger >=$15.80 & <=$21.38 $14.53 Yes - Better Subsidy Per Passenger Mile >=$3.32 & <=$4.50 $1.44 Yes - Better Subsidy Per Hour >=$57.43 & <=$77.71 $92.93 No Subsidy Per Mile >=$2.92 & <=$3.94 $4.35 No Passengers Per Revenue Hour >=3.09 & <=4.19 6.39 Yes - Better Passengers Per Revenue Mile >=0.15 & <=0.21 0.30 Yes - Better Source: City of Beaumont, TransTrack Manager *Farebox recovery ratio is derived from unaudited cost and revenue data. In addition to the annual SRTP process, Beaumont conducted a COA which was completed in November 2020. The prior COA was conducted in May 2014. The latest COA involved a 100 percent ride check of all fixed -route, regional, and commuter routes to gauge service demand in light of the demographic changes that have taken place in the city. The COA is a five-year action plan with 15 service and program recommendations. The implementation plan is structured over three phases. The short-term implementation phase is focused on on -time performance adjustments and an update to the Beaumont Transit's bus stop placement policy. The mid- and long-term phases are focused on new service opportunities and capital improvements, including a fleet maintenance and operations facility, an electric vehicle charging station in downtown, and vehicle replacement. Marketing Beaumont uses several media approaches in marketing its transit services. During the audit period, the system underwent an extensive rebranding as the shared Pass Transit branding Michael Baker International - 32 Triennial Performance Audit of Beaumont Transit — FYs 2019-2021 agreement with Banning was phased out. Under the current interagency service agreement, each agency agreed to cooperate in providing the public with specific transit information by advertising the operations of both agencies and promoting the general usage of public transit. In the spirit of this agreement, Beaumont includes a link on its transit page to Banning Transit. Printed schedules and other marketing materials are produced in-house. Nevertheless, Beaumont Transit has relied primarily on electronic media such as its website and social media to promote transit. The City of Beaumont website contains a page devoted to the transit program (https://www.beaumontca.gov/90/Transit), which was updated during the audit period. The transit page provides general information, fares, and modal links to the fixed -route, commuter, and Dial -A -Ride services as well as links to other regional transit services and trip planning tools. The trip planner interactive tool is powered by Google Transit. With the phaseout of the Pass Transit brand, the City implemented a new brand identity, named Beaumont Transit. Given the relatively new branding of the service, emphasis on cleanliness during the COVID pandemic, and alterations of routes, Beaumont could re-engage with its customers to gain feedback firsthand and collect direct input about its operations. Regular surveying of riders could be undertaken either formally or informally as a gauge of the changes made to the transit system. There are quick response (QR) codes on route maps and at bus stops for smartphone users to download transit information. Bus shelters have been equipped with kiosks containing schedule information. In the area of social media, Beaumont Transit posts content on Facebook, Instagram, and Twitter. In addition, transit buses are equipped with GPS locators that can be accessed through a mobile app called DoubleMap, which includes website access (http://beaumont.doublemap.com/map/) so that users can access real-time information and GPS coordinates of all routes currently in service. Beaumont Transit staff engages the community through events and presentations. A free shuttle service is offered during the annual Cherry Festival in Beaumont. During school orientations, staff meets with students and their parents to educate them on their transit options in the service area. In conjunction with the Commuter Link Routes 120 and 125, staff participates in regional veteran committees to promote veteran transportation services from the Pass Area to Loma Linda Veterans Administration Hospital. Travel training presentations have been conducted at local homeowners' associations, though this was suspended during COVID-19. Beaumont Transit participates in the Go -Pass program in conjunction with Mt. San Jacinto College. Student pass holders ride the system for free by presenting their student identification card with the Go -Pass sticker. The agreement for the Go -Pass program is between RTA and the college; however, there are no provisions in the agreement for Beaumont to receive any of the revenues despite participating in the program and offering free rides to the students. Beaumont Transit approached and met with representatives of Mt. San Jacinto College and RTA about executing a fare revenue agreement that would benefit Beaumont Transit. The parties were not able to come to an agreement due to a lack of interest on the part of the college and RTA. Michael Baker International - 33 Triennial Performance Audit of Beaumont Transit — FYs 2019-2021 Beaumont Transit will propose in the FY 2023 Short -Range Transit Plan to remove it from the fare schedule. General Administration and Management The City of Beaumont was incorporated November 18, 1912, as a general law city and currently operates under a council/manager form of government. The five -member City Council serves as the City's principal legislative body and each councilmember is elected for a four-year term. The mayor and the mayor pro tem are elected from the City Council and serve one-year terms but no more than two consecutive terms. The City Council meets the first and third Tuesdays of each month at 6:00 p.m. at the Beaumont Civic Center. The council is reported to be supportive of the transit service. The chief administrative officer for the City is the City manager, who is appointed by the City Council. The City manager oversees and coordinates City departments and services including transit operations. Transit is a division of the Community Services Department and overseen by a transit operations director, who is assisted by two administrative employees: a transit operations manager and a management analyst. The primary source of transit funding support is derived from the Local Transportation Fund (LTF) for operations. Beaumont Transit submits the annual TDA claim for funds to RCTC. TDA claims are based on Beaumont Transit's annual budget projections and the financial element of the SRTP. Based on the audited financial statements, Beaumont Transit's LTF allocation was $2,349,215 in FY 2019; $2,889,230 in FY 2020; and $2,433,985 in FY 2021. State Transportation Assistance (STA) funds received by Beaumont Transit were $1,575,040 in FY 2019; $74,200 in FY 2020; and $851,212 in FY 2021. STA is used primarily toward capital assistance. Beaumont Transit's annual TDA claim and transit budget are based on the prior year's budget and the finance director's analysis of the SRTP projections. Costs for service expansion are estimated and include projected employee compensation and benefit increases. The finance director is tasked with completion and submittal of Beaumont Transit's TDA claim and external reports such as the Transit Operators Financial Transactions Report to the State Controller. The City's recent administrative reorganization has resulted in more financial controls and protocols. Grants Management Grant funding allocated toward the transit system has been derived from state sources composed of Proposition 1B, SB 1 State of Good Repair (SGR), and LCTOP funds. Under the Proposition 1B Public Transportation Modernization, Improvement & Service Enhancement Account (PTMISEA) program, Beaumont received funding for vehicle purchases, bus shelter, and CNG facility upgrades. At the end of June 30, 2021, Beaumont Transit had an unexpended balance of $24,358 in PTMISEA funds. Michael Baker International - 34 Triennial Performance Audit of Beaumont Transit — FYs 2019-2021 Beaumont Transit applied for SB 1 SGR program funds toward the construction of the new consolidated administrative, fleet maintenance, and operations facility. In addition, Beaumont Transit received LCTOP funding toward the rehabilitation of three bus stops and shelter adjacent to the Walmart transfer station as well as toward free fare days. The finance director tracks the financial element of the SRTP and provides quarterly reporting to RCTC through the capital tracking report. A management analyst in Administrative Services updates the grant spreadsheet and the resources director is responsible for capital project management and procurement with approval of the finance director. The management analyst initiates grant application process and prepares the reporting. Beaumont does not utilize federal transit funding for operating expenses, thus avoiding federal transit grant and Title VI reporting requirements. Michael Baker International - 35 Triennial Performance Audit of Beaumont Transit — FYs 2019-2021 Section VI Statement of Facts The following summarizes factual events and trends obtained from this triennial audit covering fiscal years 2019 through 2021. A set of recommendations is then provided. 1. Of the compliance requirements pertaining to Beaumont Transit, the operator fully complied with five out of the eight applicable requirements. Beaumont Transit was in partial compliance with regard to the timely completion and submittal of its Transit Operator Financial Transactions Report to the State Controller, annual fiscal and compliance audits and farebox recovery attainment. Three additional compliance requirements did not apply to the operator (intermediate and urban farebox recovery ratio and the use of federal funds). 2. Based on the farebox calculation in the annual Transit System Financial Statements (audited), Beaumont's farebox recovery ratio met or exceeded the required minimum standard of 10 percent in two of the three audit years. The system -wide farebox recovery ratios were 11.68 percent in FY 2019, 7.82 percent in FY 2020, and 22.52 percent in FY 2021.3 Beaumont Transit utilized an allowable combination of additional local support revenues plus exclusion of new services costs in order to meet minimum farebox recovery attainment in FY 2021. 3. The audited farebox ratio in FY 2019-20 was adversely impacted from several significant factors. That year was the first Pass Transit split up into Banning Transit and Beaumont Transit, which essentially eliminated Beaumont's ability to effectively get passengers to social service locations in Banning without transfers. The COVID-19 pandemic and statewide shelter -in -place order starting in March 2020 further contributed to the performance decline including suspension of fare collection. 4. Beaumont Transit participates in the CHP Transit Operator Compliance Program in which the CHP conducted inspections within the 13 months prior to each TDA claim. The CHP inspection reports submitted for review were found to be satisfactory. 5. The annual operating budget did not increase above 15 percent but did exhibit fluctuations during the audit period due to COVID-19 pandemic impacts. Beaumont saw increases of 1.9 percent and 13.6 percent, respectively, during FY 2019 and FY 2020. The budget exhibited a decrease of 10.2 percent in FY 2021. The FY 2020 budgetary increase is attributed to higher salaries and fringe benefits. 3 AB 90, passed into law and signed by the governor in June 2020 in response to the COVID-19 pandemic impacts, prohibits the imposition of penalties on a transit operator that does not maintain the required ratio of fare revenues to operating cost during the FY 2019-20 or FY 2020-21. Michael Baker International - 36 Triennial Performance Audit of Beaumont Transit - FYs 2019-2021 6. Beaumont satisfactorily implemented two of the four prior audit recommendations. The two recommendations pertained to the inclusion of a link to Banning Transit on the Beaumont Transit web page and the tracking of road calls in TransTrack Manager. One recommendation pertaining to fare sharing agreement with RTA and Mt. San Jacinto College for Go -Pass riders was not implemented and is no longer applicable and the recommendation pertaining to the completion and submittal of separate State Controller Reports for both general and specialized service was not implemented is being carried forward for full implementation. 7. Operating cost per vehicle service hour, an indicator of cost efficiency, increased 62.1 percent system -wide from $108.08 in the FY 2018 base year to $175.20 in FY 2021. System- wide operating costs (based on audited data) decreased 1.2 percent during the period, while vehicle service hours decreased by 39.1 percent. The average annual decrease in operating costs was 0.3 percent. Operating costs held relatively steady while service hours declined due to the COVID-19 pandemic. 8. Operating cost per passenger, an indicator of cost effectiveness, increased 398.2 percent system -wide from $13.55 in FY 2018 to $67.49 in FY 2021. Ridership system -wide decreased 80.2 percent during the review period from 197,775 passengers in FY 2018 to 39,213 passengers in FY 2021, while operating costs decreased by 1.2 percent over the same period. The split of Pass Transit and the COVID-19 pandemic resulted in a significant decline in ridership. 9. Passengers per vehicle service hour, which measures the effectiveness of the service delivered, decreased 67.5 percent between FY 2018 and FY 2021 system -wide from 8 to 2.6 passengers per hour. Fixed -route operations were consistent with this trend, with a decrease of 70.4 percent over the same period from 8.7 to 2.6 passengers per hour. In contrast, Dial -A - Ride operations exhibited a lesser decrease of 1.2 percent from 3.23 to 3.19 passengers per hour. The trend in this indicator demonstrates a significant decline in passenger trips as compared to the decline in vehicle service hours. 10. Passengers per vehicle service mile, another indicator of service effectiveness, decreased 75.7 percent between FY 2018 and FY 2021 system -wide from 0.48 to 0.12 passengers per mile. For fixed -route operations, the number of passengers per service mile decreased by 76.6 percent from 0.49 to 0.12. Passengers per service mile on Dial -A -Ride decreased by 53.6 percent during the same period, from 0.32 in FY 2018 to 0.15 in FY 2021. From the FY 2018 base year to FY 2021, actual vehicle service miles decreased 18.5 percent system -wide. 11. A new interagency services agreement was adopted between the Cities of Beaumont and Banning in July 2019. The new agreement allows for interline transfers between the two systems at the Walmart in Beaumont and the San Gorgonio Memorial Hospital in Banning. This dissolution of the MOU resulted in the two transit systems developing their own distinct identities and service boundaries. Highland Springs Avenue became the boundary between the two systems. Michael Baker International - 37 Triennial Performance Audit of Beaumont Transit — FYs 2019-2021 12. Beaumont Transit implemented measures and protocols to mitigate the spread of COVID-19. Fare collection was suspended in March 2020. Beaumont Transit installed driver barriers, enforced mandated masking protocols, and implemented enhanced cleaning measures. During the pandemic, Route 3/4, which generally operates Saturdays, was expanded to operate Monday through Saturday; Commuter Routes 120 and 125 were combined; and Route 2 was eventually eliminated. 13. In FY 2021, an operations manager position was created with the promotion of the operations supervisor. The operations manager now oversees all transit operations including vehicle maintenance. 14. Beaumont conducted a Comprehensive Operational Analysis (COA) which was completed in November 2020. The latest COA involved a 100 percent ride check of all fixed -route, regional, and commuter routes to gauge service demand in light of the demographic changes that have taken place in the city. The COA is a five-year action plan with 15 service and program recommendations. The implementation plan is structured over three phases. Michael Baker International - 38 Triennial Performance Audit of Beaumont Transit — FYs 2019-2021 Recommendations 1. Prepare and submit separate State Controller Transit Operators Financial Transactions Reports for general public transit and specialized service. This recommendation is carried over from the prior performance audit. Beaumont's annual Transit Operators Financial Transactions Report to the State Controller has historically combined information for both general public (fixed route/commuter) and specialized service for seniors and persons with disabilities (ADA-certified and noncertified). Although the State Controller's Office has not provided notice to the City, written instructions by the state to prepare this particular report require separate reporting of these modes. In the General Instruction Form completed by Beaumont Transit, a selection must be made as to which mode of transit is represented in the report. The options are general public use or elderly/disabled. The Transit Operators Financial Transactions Report Instructions contain the following passages under the General Instruction Form: Transit operators providing two types of service, (general public use and transit service exclusively for the elderly/handicapped) must complete a separate report for each type of service. ... a separate report must be filed for each type of service provided: General Public Use Service or Specialized Service exclusive for elderly and/or handicapped. For example, if an agency has received Article 4 and Article 8(c) monies to provide General Public Use Service, the agency should submit one report. 1f that agency has also received Article 4 monies to provide Specialized Service for the elderly and/or handicapped, then a report must be submitted for the Specialized Service operations. The submission of separate reports to the State Controller will further demonstrate Beaumont's proactive approach to compliance with state reporting instructions. Beaumont Transit should coordinate preparation of separate reports with the City Finance Department to complete separate financial reporting of general public and specialized services. This will include obtaining a new identification number for Dial -A -Ride reports from the State Controller's Office, and separating financial, asset, and operating data between the two modes in their respective SCO reports. 2. Ensure timely completion and submittal of external TDA financial reports. Beaumont Transit was in partial compliance with the timely completion and submittal of its annual fiscal and compliance audits. The late submittal may be due to the financial closeout procedures needed to generate the financial information required in the Controller's report. This in turn also impacts the timely submittal of its fiscal and compliance audits which cannot be completed until the financial closeout by the City. The TDA statute provides the submittal Michael Baker International - 39 Triennial Performance Audit of Beaumont Transit — FYs 2019-2021 timelines and allowable extensions granted by RCTC. Although City financial closeout procedures are not within the scope of this performance audit, it is suggested that a schedule be coordinated between the City's Finance Department, TDA fiscal auditor, and RCTC that anticipates financial closeout by the City and completion of the external TDA financial reports. The financial closeout triggers the undertaking of the TDA financial reports, and close tracking of the timeliness of the closeout could advance some aspects and earlier preparation of the TDA reports. 3. Regularly update the vehicle fleet list in TransTrack. A printout of the Beaumont Transit fleet in TransTrack provided to the auditor incorrectly includes three Gillig commuter buses in FY 2020-21, artificially raising the total fleet number. Beaumont transit staff verified the incorrect listing and provided a separate vehicle list that does not include these commuter bus models. The TransTrack data should be reviewed, modified, and verified regularly to accurately reflect the current vehicle fleet and services type, whether local, commuter, or demand response. 4. Re-engage with riders and collect user input. Given the relatively new branding of the service, emphasis on cleanliness during the COVID pandemic, and alterations of routes, Beaumont Transit has undergone multiple changes over the past several years. As a way to continue to improve, the transit operator should re- engage with its customers to gain feedback firsthand and collect direct input about its operations. Regular surveying of riders could be undertaken as a customer facing activity to gauge public perception of the changes made to the transit system. Various low cost and low barrier survey means should be considered such as an on-line survey on the transit page on Beaumont Transit's website, or informal conversations occurring between passengers and drivers that are reported back to transit management. Additional assets such as electric vehicles also provide opportunity for the system to capitalize on its brand and appeal to its ridership and service area. Michael Baker International - 40 ATTACHMENT 4 RIVERSIDE COUNTY TRANSPORTATION COMMISSION FY 2019-2021 Triennial Performance Audit of City of Corona Transit Service October 2022 Submitted to: Riverside County Transportation Commission Submitted by: Michael Baker INTERNATIONAL TABLE OF CONTENTS Section I 1 Introduction 1 Overview of the Transit System 1 Section II 5 Operator Compliance Requirements 5 Section II I 12 Prior Triennial Performance Recommendations 12 Section IV 15 TDA Performance Indicators 15 Section V 24 Review of Operator Functions 24 Operations 24 Maintenance 28 Planning 29 Marketing 30 General Administration and Management 32 Section VI 35 Statement of Facts 35 Recommendations 38 Triennial Performance Audit of City of Corona Transit Service — FYs 2019-2021 Section 1 Introduction California's Transportation Development Act (TDA) requires that a triennial performance audit be conducted of public transit entities that receive TDA revenues per Public Utilities Code (PUC) 99246. The performance audit serves to ensure accountability in the use of public transportation revenue. The Riverside County Transportation Commission (RCTC) engaged Michael Baker International to conduct the TDA triennial performance audit of the public transit operators under its jurisdiction in Riverside County. This performance audit is conducted for the City of Corona Transit Service (City, Corona) covering the most recent triennial period, fiscal years (FY) 2018-2019 through 2020-2021. The purpose of the performance audit is to evaluate the City's effectiveness and efficiency in its use of TDA funds to provide public transportation in its service area. This evaluation is required as a condition for continued receipt of these funds for public transportation purposes. In addition, the audit evaluates the City's compliance with the conditions specified in the California Public Utilities Code. This task involves ascertaining whether the transit agency is meeting the code's reporting requirements. Moreover, the audit includes calculations of transit service performance indicators and a detailed review of the transit administrative functions. From the analysis that has been undertaken, a set of recommendations has been made which is intended to improve the performance of transit operations. In summary, this TDA audit affords the opportunity for an independent, constructive, and objective evaluation of the organization and its operations that otherwise might not be available. The methodology for the audit included in -person interviews with City transit management and the contract operator's project manager, collection and review of agency documents, data analysis, and on -site observations. The Performance Audit Guidebook for Transit Operators and Regional Transportation Planning Entities published by the California Department of Transportation (Caltrans) was used to guide in the development and conduct of the audit. Overview of the Transit System The City of Corona had provided general public Dial -A -Ride service since April 1977. In February 2001, the City also began operating a fixed -route service under the brand "Corona Cruiser" in response to its rapid growth in population and to provide better connectivity to other transit services. The City of Corona has had a memorandum of understanding (MOU) with the Riverside Transit Agency (RTA) since January 1994 to provide complementary Americans with Disabilities Act (ADA) paratransit service to RTA buses that travel through the city. The City also has formal fare transfer agreements with RTA and the Southern California Regional Rail Authority, which operates the Metrolink rail service. In FY 2018, the City transitioned the Dial -A -Ride from general Michael Baker International - 1 Triennial Performance Audit of City of Corona Transit Service — FYs 2019-2021 public to specialized service. Dial -A -Ride is a shared transportation service that provides curb -to - curb service to eligible riders. The service is available to individuals certified under the ADA, seniors (60+), and persons with disabilities. Based on the 2020 US Census, Corona's population is 157,136, an increase of 3.1 percent since the 2010 US Census. The senior citizen population, comprising residents aged 65 and over, is 9.9 percent. The 2021 population for Corona is estimated to be 169,454 as reported by the California Department of Finance, Population Estimates for Cities, Counties, and the State, January 1, 2021. The city covers approximately 38.8 square miles. System Characteristics Corona operates both fixed -route service for the general public and demand -responsive transit services for ADA-certified residents. The fixed -route service consists of two lines and is branded under the name Corona Cruiser. The system operates Monday through Friday from 6:30 a.m. to 7:09 p.m. and Saturday from 8:52 a.m. to 5:09 p.m. The transit system does not operate on Sunday as well as on the following holidays: New Year's Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day, and Christmas Day. The Corona Cruiser fixed -route services during the audit period are summarized in Table 1-1. Table 1-1 Corona Transit Fixed -Route Services Route Frequency/Operation Key Time Points Blue Line Approximately every 60 • Walmart @ McKinley minutes (Monday through • Magnolia @ McKinley Friday from 6:30 a.m. to 7:09 • Magnolia @ Rimpau p.m.; Saturday from 8:52 • Magnolia @ Fullerton a.m. to 3:50 p.m.) • Mountain Gate Park • Corona Library • Corona Transit Center • Circle City Center • River Run Apartments Red Line Approximately every 60 • Target @ Cajalco minutes (Monday through • Walmart @ California Friday from 6:30 a.m. to 7:05 • Centennial High School p.m.; Saturday from 9:00 • Rimpau @ Magnolia a.m. to 5:09 p.m.) • E. Grand @ E. Sixth Street • Corona Transit Center • Corona Library • Tenth @ Lincoln • W. Sixth Street @ Smith Ave • W. Sixth Street @ Harris • Dos Lagos @ Theater (Saturday only) Source: City of Corona Transit Services Michael Baker International - 2 Triennial Performance Audit of City of Corona Transit Service — FYs 2019-2021 Dial -A -Ride The Corona Dial -A -Ride is a specialized demand -response service designed to provide curb -to - curb transportation for eligible, ADA-certified area residents only. The Dial -A -Ride service area encompasses the City of Corona, satellite locations in Norco, and the unincorporated Riverside County communities of Home Gardens, Coronita, and El Cerrito. Dial -A -Ride offers complementary and priority service to passengers certified under the ADA. ADA certification is provided through RTA. Reservations are accepted 1-14 days in advance. ADA expanded service operates the same days and hours as the Corona Cruiser. Dial -A -Ride does not operate on Sunday as well as on the following holidays: New Year's Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day, and Christmas Day. Fares City of Corona Transit Service fares are structured based on passenger, mode, and media type. Fixed -route fares were last increased in July 2010; the current Dial -A -Ride fares have been in effect since January 2018. To incentivize public transit usage and reduce emissions, Corona uses State Assembly Bill 2766 funds to subsidize the cost of multiday passes on the Corona Cruiser. Tickets and passes are available online or in person at the City Corporation Yard, City Hall, and the Corona Library. The fare structures during the audit period are summarized in Table 1-2. Valid Metrolink pass -holders ride at no charge on Cruiser Blue and Red Lines to and from the Corona Transit Center/North Main Metrolink Station. Table 1-2 Corona Transit Fare Schedule Fare Category Fixed Route Dial -A -Ride Per Trip Day Pass 15 -Day Pass 31 -Day Pass Adult/General $1.50 $4.00 $17.50 $35.00 N/A Student (K-12 Grade) $1.50 $4.00 $12.25 $24.50 N/A Senior (60+)/Disabled $0.70 $2.00 $8.05 $16.10 $2.50 ADA-Certified $0.70 $2.00 $8.05 $16.10 $2.50 Medicare Card Holders $0.70 $2.00 $8.05 $16.10 $2.50 Children (46" tall or under) $0.25 N/A N/A N/A $0.50 Buddy Fare N/A N/A N/A N/A $1.25 Metrolink N/A N/A N/A N/A N/A Source: City of Corona Transit Services The Buddy Fare on Dial -A -Ride allows for two or more seniors or persons with disabilities to ride for half fare ($1.25) when traveling between the same locations. Personal care attendants to an ADA-certified rider may ride at no cost. Michael Baker International - 3 Triennial Performance Audit of City of Corona Transit Service — FYs 2019-2021 Fleet The City maintained 20 revenue vehicles in its active transit fleet during the audit period; 7 were utilized exclusively on the fixed -route service and the remaining 13 vehicles utilized on both service modes. All vehicles in the fleet are wheelchair accessible with tie -downs in compliance with the ADA. All vehicles are fueled by compressed natural gas (CNG). The City took delivery of 11 Glaval/Universal CNG vehicles in 2017 and retired 11 older vehicles when the new vehicles were placed into service during fiscal year 2018-2019. Table 1-3 summarizes the Corona Transit fleet. Table 1-3 Corona Transit Fleet Year Make/Model Quantity Fuel Type Seating Capacity 2012 El Dorado Aerotech 240 2 CNG 16 (2 W/C) 2016 El Dorado/EZ Rider II BRT 7 CNG 29 (2 W/C) 2017 Glaval/Universal/E-450 11 CNG 14 (2 W/C) Total 20 Source: City of Corona Vehicle Fleet Inventory as of September 28, 2021 Michael Baker International - 4 Triennial Performance Audit of City of Corona Transit Service — FYs 2019-2021 Section 11 Operator Compliance Requirements This section of the audit report contains the analysis of the City's ability to comply with state requirements for continued receipt of TDA funds. The evaluation uses Caltrans's Performance Audit Guidebook to assess transit operators. The guidebook contains a checklist of 11 measures taken from relevant sections of the Public Utilities Code and the California Code of Regulations. Each requirement is discussed in the table below, including a description of the system's efforts to comply with the requirements. In addition, findings from the compliance review are described following the table. Table 11-1 Operator Compliance Requirements Matrix Operator Compliance Reference Compliance Efforts Requirements The transit operator has Public Utilities Code, Section Completion/submittal dates: submitted annual reports to 99243 the RTPA based upon the FY 2019: January 28, 2020 Uniform System of Accounts FY 2020: February 1, 2021 and Records established by the FY 2021: January 29, 2022 State Controller. Report is due within seven (7) months It is also noted that the City after the end of the fiscal year submitted a single Transit (on or before January 31). The Operators Financial Transaction report shall contain underlying Report containing both fixed data from audited financial route and general public Dial -A - statements prepared in Ride information prior to FY accordance with generally 2019. Since Dial -A -Ride was accepted accounting principles, if this data is available. designated as a specialized service for ADA-certified, senior, and disabled passengers effective January 2018, State Controller instructions require that separate reports be submitted for each service type. For FY 2020 and FY 2021, the City submitted separate Transit Operators Financial Transactions Reports for both fixed -route and Dial -A -Ride services. Conclusion: Complied. Michael Baker International - 5 Triennial Performance Audit of City of Corona Transit Service — FYs 2019-2021 Table 11-1 Operator Compliance Requirements Matrix Operator Compliance Requirements Reference Compliance Efforts The operator has submitted annual fiscal and compliance audits to the RTPA and to the State Controller within 180 days following the end of the fiscal year (Dec. 27) or has received the appropriate 90- day extension by the RTPA allowed by law. Public Utilities Code, Section 99245 Completion/submittal dates: FY 2019: April 15, 2020 FY 2020: March 29, 2021 FY 2021: January 25, 2022 A 90 -day extension was granted by RCTC pursuant to the TDA statute. The FY 2019 fiscal audit and compliance audit was submitted after the 90 -day extension period. Conclusion: Partial Compliance. The CHP has, within the 13 months prior to each TDA claim submitted by an operator, certified the operator's compliance with Vehicle Code Section 1808.1 following a CHP inspection of the operator's terminal. Public Utilities Code, Section 99251 B The City participates in the California Highway Patrol (CHP) Transit Operator Compliance Program in which the CHP has conducted inspections within the 13 months prior to each TDA claim. Inspections were conducted at the City of Corona Corporation Yard at 735 West Public Safety Way in Corona. Inspection dates applicable to the audit period were July 24, 2019; July 15, 2020; and July 14, 2021. All inspections conducted were rated satisfactory. Conclusion: Complied. The operator's claim for TDA Public Utilities Code, Section As a condition of approval, the Michael Baker International - 6 Triennial Performance Audit of City of Corona Transit Service - FYs 2019-2021 Table 11-1 Operator Compliance Requirements Matrix Operator Compliance Requirements Reference Compliance Efforts funds is submitted in compliance with rules and regulations adopted by the RTPA for such claims. 99261 City of Corona's annual claims for Local Transportation Funds (LTF) and State Transit Assistance (STA) funds are submitted in compliance with the rules and regulations adopted by RCTC. Conclusion: Complied. If an operator serves urbanized and non -urbanized areas, it has maintained a ratio of fare revenues to operating costs at least equal to the ratio determined by the rules and regulations adopted by the RTPA. Public Utilities Code, Section 99270.1 This requirement is not applicable, as Corona Transit only serves an urbanized area. Conclusion: Not Applicable. The operator's operating budget has not increased by more than 15% over the preceding year, nor is there a substantial increase or decrease in the scope of operations or capital budget provisions for major new fixed facilities unless the operator has reasonably supported and substantiated the change(s). Public Utilities Code, Section 99266 Percentage increase in the City of Corona's transit operating budget: FY 2019: +1.9% FY 2020: +11.4% FY 2021: -4.4% Source: City of Corona Transit Services Fund Budgets for FYs 2019-2021. Conclusion: Complied. The operator's definitions of performance measures are consistent with Public Utilities Code Section 99247, including (a) operating cost, (b) operating cost per passenger, (c) operating cost per vehicle service hour, (d) passengers per vehicle service hour, I Public Utilities Code, Section 99247 The City of Corona's definition of performance is consistent with Public Utilities Code Section 99247. A review of internal performance data reports and trip sheets generated during the audit period indicates that correct performance data are being collected. Michael Baker International - 7 Triennial Performance Audit of City of Corona Transit Service - FYs 2019-2021 Table 11-1 Operator Compliance Requirements Matrix Operator Compliance Requirements Reference Compliance Efforts passengers per vehicle service mile, (f) total passengers, (g) transit vehicle, (h) vehicle service hours, (i) vehicle service miles, and (j) vehicle service hours per employee. Conclusion: Complied. If the operator serves an urbanized area, it has maintained a ratio of fare revenues to operating costs at least equal to one -fifth (20 percent), unless it is in a county with a population of less than 500,000, in which case it must maintain a ratio of fare revenues to operating costs of at least equal to three- twentieths (15 percent), if so determined by the RTPA. Public Utilities Code, Sections 99268.2, 99268.3, 99268.12, 99270.1 Operating ratios for Corona Transit using audited data were as follows: FY 2019: 17.56% FY 2020: 17.65% FY 2021: 4.29% *Effective FY 2018, Corona adopted a blended system -wide farebox recovery ratio of 15 percent, in consultation with RCTC. The fixed route is subject to a 20 percent farebox recovery and Dial -A -Ride is subject to a 10 percent farebox recovery. The system did not meet the minimum farebox ratio in FY 2021. Assembly Bill 90, passed into law in June 2020 in response to the COVID-19 pandemic impacts, prohibits the imposition of penalties from not maintaining the farebox ratio. Source: City of Corona Transit Services Fund Financial Statements (Audited) Conclusion: Partial Compliance. If the operator serves a rural area, or provides exclusive Public Utilities Code, Sections 99268.2, 99268.4, 99268.5 This requirement is not applicable, as Corona Transit only Michael Baker International - 8 Triennial Performance Audit of City of Corona Transit Service — FYs 2019-2021 Table 11-1 Operator Compliance Requirements Matrix Operator Compliance Requirements Reference Compliance Efforts services to elderly and disabled persons, it has maintained a ratio of fare revenues to operating costs at least equal to one -tenth (10 percent). serves an urbanized area and has historically operated general public Dial -A -Ride. Since Dial -A -Ride was designated as a specialized service for ADA- certified, senior, and disabled passengers effective January 2018, Dial -A -Ride would be subject to a 10 percent farebox recovery ratio as part of an overall system -wide farebox recovery ratio of 15 percent. Conclusion: Not Applicable. The current cost of the operator's retirement system is fully funded with respect to the officers and employees of its public transportation system, or the operator is implementing a plan approved by the RTPA which will fully fund the retirement system within 40 years. Public Utilities Code, Section 99271 To be eligible for TDA funds, the annual TDA claims form requires a sign -off from the transit claimant to comply with standard assurances, one of which is that the City of Corona's retirement system is funded. The City contracts with a private operator, while the City staff's retirement is funded through the California Public Employees' Retirement System (CaIPERS). Conclusion: Complied. If the operator receives state transit assistance funds, the operator makes full use of funds available to it under the Urban Mass Transportation Act of 1964 before TDA claims are granted. California Code of Regulations, Section 6754(a)(3) As a recipient of STA funds, the City of Corona is making full use of federal funds available under the Urban Mass Transportation Act of 1964 as amended. Federal Transit Administration (FTA) funds are allocated to transit agencies in the Riverside Michael Baker International - 9 Triennial Performance Audit of City of Corona Transit Service — FYs 2019-2021 Table 11-1 Operator Compliance Requirements Matrix Operator Compliance Requirements Reference Compliance Efforts urbanized area, including the City of Corona. FY 2019: $560,831(Operations) FY 2020: $1,128,357 (Operations) FY 2021: $1,810,086 (Operations) Source: Transit Operators Financial Transactions Reports Conclusion: Complied. Findings and Observations from Operator Compliance Requirements Matrix 1. Of the compliance requirements pertaining to the City of Corona Transit Service, the operator fully complied with seven of the nine applicable requirements. The City was in partial compliance regarding the timely submittal of the FY 2019 fiscal and compliance audit and farebox recovery attainment for FY 2021.1 Two additional compliance requirements are not applicable to Corona (i.e., intermediate farebox recovery ratio and rural area farebox recovery ratio). 2. Effective FY 2018, Corona adopted a blended system -wide farebox recovery ratio of 15 percent, in consultation with RCTC, based on the available data from the audited City of Corona Transit Services Fund Financial Statements. Under the revised farebox recovery standard, the fixed route is subject to a 20 percent farebox recovery and Dial -A -Ride would be subject to a 10 percent farebox recovery. The system -wide farebox recovery ratios were 17.56 percent in FY 2019, 17.65 percent in FY 2020, and 4.29 percent in FY 2021.2 It is noted that the audited farebox ratio in FY 2021 was adversely impacted from the COVID-19 pandemic and state shelter -in -place order as well as the suspension of fare collection. The City utilized an allowable combination of additional local support revenues in order to meet minimum farebox recovery attainment in FY 2019 and FY 2020. ' Assembly Bill 90, passed into law and signed by the governor in June 2020 in response to the COVID-19 pandemic impacts, prohibits the imposition of penalties on a transit operator that does not maintain the required ratio of fare revenues to operating cost during the FY 2019-20 or FY 2020-21. 2 While the requirement to meet minimum farebox standards still applied during the pandemic, AB 90 suspended the imposition of a financial penalty by RCTC per TDA law. Michael Baker International - 10 Triennial Performance Audit of City of Corona Transit Service — FYs 2019-2021 3. Through its contract operator, the City participates in the CHP Transit Operator Compliance Program in which the CHP has conducted inspections within the 13 months prior to each TDA claim. The CHP inspection reports submitted for review were found to be satisfactory. 4. The City of Corona Transit Fund operating budget exhibited modest fluctuations during the audit period. The budget increased by 1.9 percent in FY 2019 and 11.4 percent in FY 2020. In FY 2021, the budget decreased by 4.4 percent. The budget increases are attributed to higher salary and benefit costs as well as the new operations and maintenance contract. Michael Baker International - 11 Triennial Performance Audit of City of Corona Transit Service — FYs 2019-2021 Section 111 Prior Triennial Performance Recommendations The City of Corona's efforts to implement the recommendations made in the FY 2016-2018 triennial performance audit are examined in this section of the report. For this purpose, each prior recommendation for the agency is described, followed by a discussion of the City of Corona's efforts to implement the recommendation. Conclusions concerning the extent to which the recommendations have been adopted by the agency are then presented. Prior Recommendation 1 Prepare and submit separate State Controller Transit Operators Financial Transactions Reports for general public transit and specialized service. Background: Corona's annual Transit Operators Financial Transactions Report to the State Controller has historically combined fixed route and Dial -A -Ride, as each provided general public service. With the transition to specialized Dial -A -Ride, written instructions by the state to prepare this particular report require separate reporting of fixed route and specialized service. In the General Instruction Form completed by the City, a selection must be made as to which mode of transit is represented in the report. The options are general public use or elderly/disabled. The Transit Operators Financial Transactions Report Instructions contain the following passages under the General Instruction Form: Transit operators providing two types of service, (general public use and transit service exclusively for the elderly/handicapped) must complete a separate report for each type of service. ... a separate report must be filed for each type of service provided: General Public Use Service or Specialized Service exclusive for elderly and/or handicapped. For example, if an agency has received Article 4 and Article 8(c) monies to provide General Public Use Service, the agency should submit one report. If that agency has also received Article 4 monies to provide Specialized Service for the elderly and/or handicapped, then a report must be submitted for the Specialized Service operations. The prior audit emphasized that the submission of separate reports to the State Controller would demonstrate Corona's proactive approach to compliance with state reporting instructions. Actions taken by the City of Corona In 2019, the City contacted the Office of State Controller regarding the submission of separate annual Transit Operators Financial Transactions Reports for fixed -route service and Dial -A -Ride Michael Baker International - 12 Triennial Performance Audit of City of Corona Transit Service — FYs 2019-2021 service. The State Controller advised Corona to submit a single combined report for FY 2019 pending updates required to the State Controller database to allow for the submission of a separate specialized service report from the agency. For FY 2020 and FY 2021, the City submitted separate Transit Operators Financial Transactions Reports for both fixed -route service and Dial - A -Ride services. Conclusion This recommendation has been implemented. Prior Recommendation 2 Continue process of implementing ADA subscription services on Dial -A -Ride. Background: The City has been in the process of implementing an ADA subscription service. Dial - A -Ride's transition from general public to a specialized service for ADA-certified and senior passengers makes the subscription service option more feasible. Subscription trips to the Inland Empire Adult Day Health Care Center and other adult day care centers have been ongoing. In addition, the City has been monitoring ADA trips to ensure that there are no capacity constraints. Nevertheless, the City has indicated its willingness to work with the contract operator and review the feasibility of establishing a formal ADA Subscription Services Policy. A call-back function to remind riders of their upcoming trips would also improve operating efficiency and effectiveness. The City will be incorporating a call-back function in the next ITS project. Actions taken by the City of Corona City of Corona Transit Service staff in conjunction with the contract operator continue to monitor ADA trips to ensure there are no capacity constraints and continue to work in coordination with the contractor to develop a formal ADA Subscription Services Policy. The City plans to implement a call-back feature in the next ITS project. Conclusion This recommendation is in the process of implementation and will be carried forward for full implementation. Prior Recommendation 3 Include additional locally generated revenue in the farebox recovery. Background: During the audit period, Corona adopted a blended farebox recovery standard of 15 percent. The revenues in the farebox ratio are composed primarily of passenger fares, City supplemental support revenues, and South Coast Air Quality Management District subsidies. State legislation (SB 508) reinforces current RCTC practice of allowing other locally generated Michael Baker International - 13 Triennial Performance Audit of City of Corona Transit Service — FYs 2019-2021 revenues in the farebox ratio. These other revenues could include advertising generated by the transit system, bus wraps on the vehicles, and other local contributions from the City to the transit program. Corona allows advertising space on its bus shelters and has expressed interest in allowing advertising on board its vehicles. The City currently does not have an advertising policy but has expressed interest in developing one. However, staffing and budgetary constraints make it difficult to pursue. Nevertheless, given the farebox recovery trends, it was suggested that the City pursue this measure to incorporate other locally generated revenue in its farebox recovery. Actions taken by the City of Corona City of Corona Transit Service staff have continued to look for additional revenue sources to satisfy the minimum farebox recovery ratios. Based on the farebox recovery ratio calculation contained in the Corona Transit Services Fund Financial Statements prepared during the audit period, the City has included local support revenues from the General Fund, interest, and South Coast Air Quality Management District fare subsidies. In consideration of the new farebox recovery standard, the City has mentioned looking into fare restructuring and a potential fare increase in the Comprehensive Operations Analysis (COA). Current state legislation now allows federal funds to be included in the farebox recovery ratio, which could benefit the transit service meet its recovery standard. Conclusion This recommendation has been partially implemented; however, the City is encouraged to identify other sources of local revenue generation, such as advertising, bus wraps, and fuel sales, and utilize additional revenue allowances from state legislation. Michael Baker International - 14 Triennial Performance Audit of City of Corona Transit Service — FYs 2019-2021 Section IV TDA Performance Indicators This section reviews Corona Transit Service's performance in providing transit service to the community in an efficient and effective manner. The TDA requires that at least five specific performance indicators be reported, which are contained in the following tables. Farebox recovery ratio is not one of the five specific indicators but is a requirement for continued TDA funding. Therefore, farebox calculation is also included. Two additional performance indicators that gauge service effectiveness and revenue, operating cost per mile and average fare per passenger, are included as well. Findings from the analysis are contained in the section following the tables. Tables IV -1 through IV -3 provide the performance indicators for Corona Transit Service system- wide, fixed route, and Dial -A -Ride. Graphs are also provided to depict the trends in the indicators. It is noted that the system -wide operating costs and fare revenues are based on audited figures, while fixed route and Dial -A -Ride costs and fare revenues are unaudited. The annual fiscal audits do not provide a modal breakdown. Michael Baker International - 15 Triennial Performance Audit of City of Corona Transit Service - FYs 2019-2021 Table IV -1 Corona Transit TDA Performance Indicators System -wide Audit Period Performance Data and Indicators FY 2018 FY 2019 FY 2020 FY 2021 % Change FY 2018 - 2021 Operating Cost (1) $2,918,211 $2,489,197 $2,309,461 $1,901,148 -34.9% Total Passengers 234,318 170,946 140,175 90,031 -61.6% Vehicle Service Hours 31,529 29,119 26,261 20,815 -34.0% Vehicle Service Miles 399,240 347,239 317,754 250,039 -37.4% Employee FTEs 34 30 31 27 -20.6% Total Passenger Fares $292,647 $272,356 $212,953 $51,187 -82.5% Local Support Revenues $181,598 $164,819 $194,741 $30,318 -83.3% Total Fare Revenues $474,245 $437,175 $407,694 $81,505 -82.8% Operating Cost per Passenger $12.45 $14.56 $16.48 $21.12 69.6% Operating Cost per Vehicle Service Hour $92.56 $85.48 $87.94 $91.34 -1.3% Operating Cost per Vehicle Service Mile $7.31 $7.17 $7.27 $7.60 4.0% Passengers per Vehicle Service Hour 7.4 5.9 5.3 4.3 -41.8% Passengers per Vehicle Service Mile 0.59 0.49 0.44 0.36 -38.7% Vehicle Service Hours per Employee 927.3 970.6 847.1 770.9 -16.9% Average Fare per Passenger $1.25 $1.59 $1.52 $0.57 -54.5% Fare Recovery Ratio 10.03% 10.94% 9.22% 2.69% -73.2% Fare Recovery Ratio with Local Support (2) 16.25% 17.56% 17.65% 4.29% -73.6% Consumer Price Index - (CPI-AII) (3) 3.5% 3.4% 2.5% 2.0% 8.1% Source: Annual Fiscal & Compliance Audits; NTD; State Controller Reports (1) System -wide operating costs as shown in Basic Financial Statement reports. Modal operational costs in subsequent tables are noted as shown in NTD reports. Modal operational costs do not sum to system -wide due to unaudited data sources. (2) Audited fare recovery ratio is the sum of fares plus local funds, interest and other revenue divided by operating cost. (3) Percentage change in the three-year CPI is based on the difference between the FY 2021 price index and FY 2018 price index. The annual CPI is the change in the price index from the prior year. Michael Baker International - 16 Triennial Performance Audit of City of Corona Transit Service - FYs 2019-2021 Table IV -2 Corona Transit TDA Performance Indicators Fixed Route Audit Period Performance Data and Indicators FY 2018 FY 2019 FY 2020 FY 2021 % Change FY 2018-2021 Operating Cost (1) $1,111,926 $1,205,719 $1,249,395 $1,264,854 13.8% Total Passengers 129,972 118,366 100,186 76,645 -41.0% Vehicle Service Hours 14,559 14,472 14,558 14,471 -0.6% Vehicle Service Miles 173,434 170,411 172,730 167,171 -3.6% Employee FTEs 13 12 14 15 15.4% Passenger Fares $132,810 $126,794 $88,105 $12,508 -90.6% Operating Cost per Passenger $8.56 $10.19 $12.47 $16.50 92.9% Operating Cost per Vehicle Service Hour $76.37 $83.31 $85.82 $87.41 14.4% Operating Cost per Vehicle Service Mile $6.41 $7.08 $7.23 $7.57 18.0% Passengers per Vehicle Service Hour 8.9 8.2 6.9 5.3 -40.7% Passengers per Vehicle Service Mile 0.75 0.69 0.58 0.46 -38.8% Vehicle Service Hours per Employee 1,119.9 1,206.0 1,039.9 964.7 -13.9% Average Fare per Passenger $1.02 $1.07 $0.88 $0.16 -84.0% Fare Recovery Ratio 11.94% 10.52% 7.05% 0.99% -91.7% Consumer Price Index - (CPI-AII) 3.5% 3.4% 2.5% 2.0% 8.1% Source: NTD; State Controller Reports (1) Costs are unaudited since annual fiscal and compliance audits do not include costs by mode. Michael Baker International - 17 Triennial Performance Audit of City of Corona Transit Service - FYs 2019-2021 Table IV -3 Corona Transit TDA Performance Indicators Dial -A -Ride Audit Period Performance Data and Indicators FY 2018 FY 2019 FY 2020 FY 2021 % Change FY 2018-2021 Operating Cost (1) $1,197,411 $1,180,032 $1,077,103 $722,524 -39.7% Total Passengers 58,089 52,580 39,989 13,386 -77.0% Vehicle Service Hours 15,338 14,647 11,703 6,344 -58.6% Vehicle Service Miles 195,419 176,828 145,024 82,868 -57.6% Employee FTE's 18 18 17 12 -33.3% Passenger Fares $162,529 $146,951 $125,260 $45,721 -71.9% Operating Cost per Passenger $20.61 $22.44 $26.93 $53.98 161.8% Operating Cost per Vehicle Service Hour $78.07 $80.56 $92.04 $113.89 45.9% Operating Cost per Vehicle Service Mile $6.13 $6.67 $7.43 $8.72 42.3% Passengers per Vehicle Service Hour 3.8 3.6 3.4 2.1 -44.3% Passengers per Vehicle Service Mile 0.30 0.30 0.28 0.16 -45.7% Vehicle Service Hours per Employee 852.1 813.7 688.4 528.7 -38.0% Average Fare per Passenger $2.80 $2.79 $3.13 $3.42 22.1% Fare Recovery Ratio 13.57% 12.45% 11.63% 6.33% -53.4% Consumer Price Index - (CPI-AII) 3.5% 3.4% 2.5% 2.0% 8.1% Source: NTD; State Controller Reports; TransTrack Manager (1) Costs are unaudited since annual fiscal & compliance audits do not include costs by mode. Michael Baker International - 18 Triennial Performance Audit of City of Corona Transit Service — FYs 2019-2021 Graph IV -1 Operating Costs System -wide, Fixed Route, and Dial -A -Ride S3,500,000 S 3,000,000 S2,500.000 S2,000,000 51,500, 000 51,000,000 5500,000 5- 250,000 200,000 150,000 100,000 50,000 11 FY 2018 11 FY 2019 FY 2020 ■ System -wide • Fixed Route a Dial -a -Ride Graph IV -2 Ridership System -wide, Fixed Route, and Dial -A -Ride FY 2018 1 1 FY 2019 FY 2020 ■ System -wide ■ Fixed Route • Dial -a -Ride 1 FY 2021 FY 2021 Michael Baker International - 19 Triennial Performance Audit of City of Corona Transit Service — FYs 2019-2021 Graph IV -3 Operating Cost per Passenger System -wide, Fixed Route, and Dial -A -Ride S60.00 S50.00 540.00 530.00 520.00 510.00 5- 5120.00 5100.00 580.00 560.00 540.00 520.00 5 - hi 11 FY 2018 FY 2019 hill FY 2020 FY 2021 ■ System -wide • Fixed Route ■ Dial -a -Ride Graph IV -4 Operating Cost per Vehicle Service Hour System -wide, Fixed Route, and Dial -A -Ride FY 2018 1 FY 2019 FY 2020 ■ System -wide ■ Fixed Route • Dial -a -Ride FY 2021 Michael Baker International - 20 Triennial Performance Audit of City of Corona Transit Service — FYs 2019-2021 Graph IV -5 Passengers per Vehicle Service Hour System -wide, Fixed Route, and Dial -A -Ride 10.0 9.0 8.0 7.0 6.0 5.0 4.0 3.0 2.0 1.0 0.0 20.0% 18.0% 16.0% 14.0% 12.0% 10.0% 8.0% 6.0% 4.0% 2.0% 0.096 FY 2018 FY 2019 r I FY 2020 ■ System -wide ■ Fixed Route ■ Dial -a -Ride Graph IV -6 Fare Recovery Ratio System -wide, Fixed Route, and Dial -A -Ride FY 2018 FY 2019 i FY 2021 FY 2020 FY 2021 ■ System -wide • Fixed Route • Dial -a -Ride Note: System -wide farebox ratios include local support revenues while modal ratios do not. Corona Transit is subject to system -wide farebox ratio standard. Michael Baker International - 21 Triennial Performance Audit of City of Corona Transit Service - FYs 2019-2021 Findings from Verification of TDA Performance Indicators It is noted that adverse impacts on transit service from the COVID-19 pandemic and statewide shelter -in -place order are reflected in various performance measure trends described below. The operator's response during this period is contained in the functional review section of this audit. 1. Operating cost per vehicle service hour, an indicator of cost efficiency, decreased 1.3 percent system -wide based on audited data from the FY 2018 base year through FY 2021. Based on the unaudited NTD reports, this indicator increased 14.4 percent and 45.9 percent on the fixed route and Dial -A -Ride, respectively. These relatively high growth rates on a modal basis are negative indicators of cost efficiency, or in other terms, the cost of producing a unit of transit service. 2. Operating cost per passenger, an indicator of cost effectiveness, increased 69.6 percent system -wide based on audited data from the FY 2018 base year through FY 2021. On a modal basis, cost per passenger increased 92.9 percent and 161.8 percent on fixed route and Dial -A - Ride, respectively, during the audit period. The increased indicator is due to increased costs coupled with decreased ridership for both modes due to the COVID-19 pandemic. This higher percentage indicates reduced effectiveness in the delivery of services. Ridership system -wide decreased by 61.6 percent, from 234,318 passengers in FY 2018 to 90,031 passengers in FY 2021, while operating costs decreased 34.9 percent for the same period. 3. Passengers per vehicle service hour, which measures the effectiveness of the service delivered, declined 41.8 percent from the FY 2018 base year through FY 2021. Fixed route experienced a decrease of 40.7 percent from FY 2018. Passengers per hour for Dial -A -Ride declined by 44.3 percent. System -wide, the number of passengers per service hour fell from 7.4 in FY 2018 to 4.3 in FY 2021. On the fixed route, this indicator decreased from 8.9 passengers per hour in FY 2018 to 5.3 passengers in FY 2021. For Dial -A -Ride, the number of passengers per hour decreased from 3.8 to 2.1 during the same time period. 4. Passengers per vehicle service mile, another indicator of service effectiveness, decreased 38.7 percent system -wide, from 0.59 in FY 2018 to 0.36 in FY 2021. For fixed -route operations, the number of passengers per service mile decreased 38.8 percent, from 0.75 to 0.46 between FY 2018 and FY 2021. On Dial -a -Ride, passengers per service mile decreased 45.7 percent over the same period. Passenger trips decreased at a higher percentage rate than vehicle service miles for both service modes. 5. Vehicle service hours per employee decreased 16.9 percent system -wide between FY 2018 and FY 2021. Vehicle service hours per employee for fixed -route service decreased 13.9 percent during the reporting period, from 1,119.9 hours in FY 2018 to 964.7 hours in FY 2021, as vehicle service hours decreased, and the number of full-time equivalents (FTEs) increased (from 13 to 15) during the period. For Dial -A -Ride, vehicle hours per employee decreased 38 percent over the same period. Dial -a -Ride employees decreased from 18 to 12 FTEs while vehicle service hours decreased 58.6 percent. This measure is based on the number of Michael Baker International - 22 Triennial Performance Audit of City of Corona Transit Service — FYs 2019-2021 employee FTEs using employee pay hours from the Transit Operators Financial Transactions Report and dividing by 2,000 hours per employee. 6. Farebox recovery exhibited an overall percentage decrease of 73.6 percent system -wide from 16.25 percent in the FY 2018 base year to 4.29 percent in FY 2021 based on audited data. Effective FY 2018, Corona adopted a blended system -wide farebox recovery ratio of 15 percent. The fixed route is subject to a 20 percent farebox recovery and Dial -A -Ride is subject to a 10 percent farebox recovery. The City's audited farebox recovery is inclusive of interest, South Coast Air Quality Management District revenue, and other local support. System -wide farebox recovery remained above 15 percent in FY 2019 and FY 2020 before dropping below 15 percent in FY 2021. The drop below 15 percent is primarily due to the impacts of the COVID-19 pandemic. Without local support revenues, system -wide farebox recovery decreased by 73.2 percent from 10.03 percent in FY 2018 to 2.69 percent in FY 2021. Farebox for fixed route decreased by 91.7 percent exclusive of local support revenues, due to the increase in modal operating costs coupled with a large decrease in farebox revenue for the service. Dial -A -Ride farebox recovery declined 53.4 percent without local support as the slight growth in operating costs was offset by the decline in Dial -A -Ride fare collection during the audit period. Fare collection was suspended in April 2020 but resumed in July 2021. The City used CARES Act funding to cover operation costs. Conclusion from the Verification of TDA Performance Indicators The City of Corona's system -wide performance indicators reflect decreases in operating costs while exhibiting higher declines in ridership due to the service impacts of the COVID-19 pandemic. Ridership decreased 61.6 percent system -wide during the audit period. Fixed -route ridership, comprising about 85 percent of total passengers, decreased by 41 percent, while Dial - A -Ride ridership decreased 77 percent. System -wide, ridership decreased steadily from year to year (27 percent annualized). Dial -A -Ride ridership exhibited steady declines due to the Dial -A - Ride service provision changing from general public to specialized service in FY 2018 as well as the COVID-19 pandemic in the fourth quarter of FY 2020 and extending through FY 2021. The initial decline was expected as Dial -A -Ride no longer serves the general public, which included many student riders. Operating costs system -wide decreased 34.9 percent over the review period from the FY 2018 base year through FY 2021 based on audited data. By mode (using unaudited data), fixed -route services experienced a 13.8 percent increase in operating costs during the audit period while Dial -A -Ride decreased by 39.7 percent. Vehicle service hours decreased system -wide during the audit period; fixed -route decreased .06 percent and Dial -A -Ride decreased 58.6 percent. Fixed - route vehicle service miles decreased 3.6 percent while Dial -A -Ride vehicle service miles decreased 57.6 percent. The rates of decline in Dial -A -Ride hours and miles were lower than the rate of decline in Dial -A -Ride ridership. Michael Baker International - 23 Triennial Performance Audit of City of Corona Transit Service — FYs 2019-2021 Section V Review of Operator Functions This section provides an in-depth review of various functions within the City of Corona Transit Service. The review highlights accomplishments, issues, and/or challenges that were determined during the audit period. The following functions were reviewed at the City of Corona: • Operations • Maintenance • Planning • Marketing • General Administration and Management Within some departments are subfunctions that require review as well, such as Grants Administration that falls under General Administration. Operations The City of Corona Transit Service is composed of two fixed routes and a specialized Dial -A -Ride service available to individuals certified under the ADA, seniors (60+), and persons with disabilities. The City changed Dial -A -Ride to a specialized service from general public service on in FY 2018. The Dial -A -Ride operates the same hours as the fixed -route service. The transit system serves to augment RTA's routes in Corona, which are more commuter oriented. Corona Cruiser has been averaging 6 to 7 passengers an hour whereas Dial -A -Ride has been averaging nearly 3 passengers an hour. On July 18, 2018, the City Council awarded MV Transportation the contract for the operation of City of Corona Transit Service. Previously, the service was operated under contract by Irvine - based Transportation Concepts. MV Transportation commenced operations effective September 1, 2018. The transition from Transportation Concepts to MV Transportation took approximately one year. MV Transportation uses Optibus for bus run cuts. Optibus is a software -as -a -service platform that plans and schedules the movements of vehicles and drivers. The Routematch dispatching and scheduling program has an automated vehicle locator (AVL) feature and is used for scheduling and organizing Dial -A -Ride trips, communication between the bus operators and dispatching staff regarding pick-ups and drop-offs, messaging, navigation and tracking of vehicles. Foremost it is a scheduling software that allows report generation. Routematch software is provided by the City whereas Optibus is provided by MV. Corona has reported issues Michael Baker International - 24 Triennial Performance Audit of City of Corona Transit Service — FYs 2019-2021 with setting the reporting parameters and has not been using the system's optimization tools. In July 2019, Routematch provided optimization training and adjusted the reporting parameters. Each vehicle is equipped with eight security cameras. In addition, Corona utilizes DriveCam, a video -based driver safety program that harnesses the power of video, predictive analytics, and a cloud -based platform to help improve driver safety, exonerate drivers from false claims, and significantly reduce collisions and related costs. Another safety feature that was implemented is Mobileye, which is a collision avoidance system that prevents tailgating. Before the start of each run, drivers clock in and receive the daily manifest. The drivers perform a pre -trip inspection and note the beginning mileage. Mileage is manually reported and entered into an Access spreadsheet. The contractor's administrative assistant or project manager inputs the data and submits to the City for review. According to monthly and annual operations reports, on average 5.81 percent of Dial -A -Ride trips are no-shows. This is a 0.4 decrease in no-shows as compared to the last audit period. While the frequency of no-shows remains above general industry norms of less than 5 percent, the notable decline indicates that the City's revised no-show policy and procedure, implemented in March 2019, is leading to some efficiency improvements. The on -time performance standard is 95 percent and monitored by the Routematch AVL system and calls into dispatch. Road supervisors conduct periodic time checks. For the fixed route during the audit period, drivers made calls into dispatch at designated time points, generally about four per route. In the event a fixed -route bus is running behind schedule, a Dial -A -Ride vehicle may be dispatched to allow the fixed -route bus to get back on schedule. On -time performance for Dial - A -Ride is tracked through the trip sheets. There is a 30 -minute pickup window that is monitored by dispatch. On -time performance for all service modes averaged just under 93 percent in FY 2021, which is an improvement from the prior two fiscal years. While some of the improved performance was attributed to less traffic during the pandemic, traffic congestion continues to threaten the ability to efficiently maintain a high level of on -time performance. City transit staff have been adjusting bus time schedules to accommodate the increased congestion. Schedule adherence is being met on the Corona Cruiser. The City looked at peak times and construction impacts from the ongoing freeway and road construction from the SR -91 Corridor Improvement Projects and the Cajalco Road/I-15 Interchange Improvement Project. Corona's on -time performance for the audit period is summarized in Table V-1: Michael Baker International - 25 Triennial Performance Audit of City of Corona Transit Service — FYs 2019-2021 Table V-1 Corona Transit Service On -Time Performance FY 2018-19 FY 2019-20 FY 2020-21 Blue Line 78.3% 83.2% 92.4% Red Line 73.0% 79.0% 89.8% Dial -A -Ride (ADA) 91.2% 85.0% 96.1% Source: City of Corona Productivity Reports Corona Transit vehicles are equipped with non -electronic Diamond fareboxes. Drivers verify on the spot that proper fares are placed into the farebox. After each run has been completed, the farebox vaults are secured in the dispatch office. Revenues are counted the following day by two contract staff, composed of the general manager and assistant general manager or the assistant general manager and a dispatcher. The count is conducted in a camera -equipped room. After the count is completed and reconciled, the revenues are transported to the bank for deposit. The City conducts periodic spot checks of the fare revenues. In addition, MV Transportation has conducted an audit of its fare counting and reconciliation procedures. The audit found that there was more of a variance on the fixed route, with projected revenues being higher than the actual. This variance may be attributed to the day passes used by most student riders and the possibility that some of the drivers were entering the wrong passenger category on the trip sheets. Personnel When operations were transferred from the previous contracted operator, Transportation Concepts, to MV Transportation in September 2018, the drivers and dispatchers remained on staff. In addition, more support personnel were added to operations, including road supervisors. MV Transportation personnel are composed of a general manager, assistant general manager, three maintenance employees, one utility worker, two dispatchers, two road supervisors, one trainer, and 18 drivers. Two drivers are classified as part-time and dispatchers are designated backup drivers. Non-exempt employees are non-union and there is no extraboard. The average years of experience span between 15 and 20 years. There has been limited employee turnover and five drivers were hired over the audit period. Drivers are trained on both service modes. Routes are bidded annually in February based on service needs. The bidding process begins with the Dial -A -Ride runs and extends to the fixed route. MV Transportation uses layover points to guide the bidding process. In 2020, there were a number of split shifts on the fixed route that would have drivers assigned to the Red Route in the morning and the Blue Route in the afternoon. Recruitment takes place through MV Transportation's corporate website as well as through online advertisements on Craigslist and Indeed. Drivers are required to have a Class B license and an air brake endorsement is encouraged. Fixed -route drivers are Verification Transit Training - certified. General Public Paratransit Vehicle certification is no longer required. Driver candidates with a Class B license undergo 15 hours of classroom training and 20 hours of behind -the -wheel Michael Baker International - 26 Triennial Performance Audit of City of Corona Transit Service — FYs 2019-2021 transit, plus two to three days of cadet training involving the trainee riding along with an experienced driver. Driver candidates without a Class B license undergo 40 hours of classroom training and 30 or more hours of behind -the -wheel training, plus two to three days of cadet training. New drivers are sent to MV Transportation's Paramount facility for training and DMV testing prior to cadet training. Monthly safety meetings are held on Saturdays and on two weekdays. Topics are provided by MV Transportation's corporate office and include defensive driving, passenger awareness, operational updates, accidents, work -related injuries, COVID-19/personal protective equipment, and customer service. The road supervisor conducts a 45- and 90 -day evaluation of the drivers, which includes retraining if necessary. Observations are conducted on board the vehicle or from a remote vantage point. Preventative accidents trigger retraining. Most accidents have been minor. Footage from MV Transportation's proprietary on -board camera system, DriveCam, is reviewed daily. The Mobileye collision avoidance system has been installed on the windshields of the vehicles to prevent tailgating. The system will activate when the vehicle is less than two car lengths ahead. In addition to MV Transportation personnel, there were also multiple City staff positions that were responsible for administrative functions at Corona Transit. During the audit period, the public works director and an administrative assistant contributed 9 percent and 13 percent of their work time to Corona Transit tasks, respectively. Additionally, a transportation planning supervisor and associate engineer were both fully dedicated to Corona Transit tasks.3 COVID-19 Pandemic Impacts Personal protective equipment distributed to the drivers included gloves, face masks, hand sanitizer, goggles, and face shields. Service levels for fixed route remained unchanged; however, Dial -A -Ride service hours were reduced. These necessary activities in response to the rapidly evolving COVID-19 pandemic condition resulted in impacts on performance trends which were pervasive throughout the transit industry during the fourth quarter of FY 2020 and most of FY 2021. Fare collection resumed on all service modes in the summer of 2021. 3 Slightly after the audit period, City staffing changes occurred for the transit program due to restructuring in August 2021. Both the Associate Engineer and Administrative Assistant were transitioned out of transit by October 2021. Currently, the entire transit program is being overseen by the Transportation Planning Supervisor in the Community Services Department. The staff transitions create additional challenges to balance increased day-to-day transit responsibilities from the shortage in assistance to carry out the various functions including grant administration, capital improvement, oversight, marketing, budgeting, regulatory compliance, etc. Michael Baker International - 27 Triennial Performance Audit of City of Corona Transit Service — FYs 2019-2021 As a result of the stay-at-home order, Corona Transit experienced a drastic decline in ridership. Corona Transit also implemented various measures to help prevent the spread of the virus including: • Increased sanitation of buses and bus stop shelters and equipment; • Suspension of fare collection to reduce contact and increased social distancing; • Enforcing the mask mandate policy on board buses; • Providing hand sanitizer and masks on board buses; and • Installation of driver barriers on board buses. Maintenance MV Transportation conducts vehicle maintenance in-house and employed two full-time mechanics, one A level and one B level mechanic, as well as a maintenance manager. The contract with the City included a provision for the contractor to pay prevailing wages under the state prevailing wage laws for public works, which include mechanics. The mechanics are Automotive Service Excellence (ASE) certified and the maintenance manager has ASE certification for CNG. Mechanics received incentive pay for certifications. Vehicles are maintained at an off -site facility located in the city of Ontario. The maintenance facility is located at 1930 South Rochester Avenue in Ontario, approximately 13 miles from Corona. The facility has up to three service bays, a parts room, maintenance manager's office, and a large upstairs storage room. The facility can accommodate up to three vehicles. Body work and the fire suppression system and engine control module inspections are outsourced. Vehicle maintenance follows City standards of 45 days or 3,000 miles, which conform to the CHP regulations. To allow a scheduling cushion, the transit contractor schedules each preventative maintenance inspection (PMI) every 40 days or 2,500 miles. The City's engineering technician reviews the PMIs. The relatively long distance between the contractor's maintenance facility and the City Corporation Yard provides a two-way road test for the vehicles. Fueling is the responsibility of the City, which has a CNG slow -fill fueling facility at the Corporation Yard where the transit fleet is fueled. Cycle counts of the parts inventory are conducted twice annually in June and December. The contractor utilizes Trapeze EAM fleet maintenance software. Pre -trip inspection procedures involve the drivers clocking in with dispatch. The maintenance manager is present for the rollout of each vehicle. The driver vehicle inspection report is composed of a two carbon -copy booklet that remains in the vehicle for a period of 30 days. The CHP is responsible for certifying the transit system's maintenance facilities and for inspecting vehicles on an annual basis. Corona Transit vehicles have received satisfactory terminal inspections from the CHP. In addition to the mechanic positions, MV Transportation is responsible for staffing bus stop/shelter maintenance and bus washer and detailer staff within the maintenance Michael Baker International - 28 Triennial Performance Audit of City of Corona Transit Service - FYs 2019-2021 department. Currently, the bus stop/shelter maintenance role is filled by a full-time staff person. This position is responsible for the upkeep of 185 bus stops and 27 bus shelters within the Corona Transit's service area, including maintaining the cleanliness of bus stops and repairing or replacing any damaged bus stop signs or amenities. Bus washers and detailers are responsible for the cleaning, washing, and detailing the interior and exterior of all vehicles. In January 2019, Corona Transit completed its Shelter Battery and Light project. Through this project, the agency replaced the deteriorating batteries and components within bus stop shelter solar lighting systems at 25 Corona Cruiser bus stops throughout the service area. Part of the project included the relocation of a bus shelter from an out -of -service stop to a high ridership stop to better serve customers. Planning The City of Corona prepares a Short -Range Transit Plan (SRTP) on an annual basis. The SRTP covers a three-year planning horizon and includes a system overview; services and performance analysis for each route and service provided; service changes; and financial and capital plans. Under the existing services and route performance chapter, a series of recommendations for service improvements is presented for each route or program. Performance data from TransTrack Manager is also included in the SRTP to provide an annual comparison. In adhering to the SRTP analysis element, Corona must meet at least four out of seven discretionary performance targets. These indicators are in relation to RCTC's Productivity Improvement Program. There is one mandatory target, which is the farebox recovery ratio set at a blended rate of 15 percent for fixed route and Dial -A -Ride. The following table shows the performance targets during the audit period. Table V-2 Corona Transit Performance Target Performance Indicators FY 2018-19 Target FY 2019-20 Target FY 2020-21 Target Farebox Recovery >=14.82% >=15.00% >=20.00% Operating Cost Per Revenue Hour <=$76.48 <=$79.16 <=$78.67 Subsidy Per Passenger >=$8.47 & <=$11.47 >=$9.40 & <=$12.72 >=$10.46 & <=$14.15 Subsidy Per Passenger Mile >=$1.98 & <=$2.68 >=$2.19 & <=$2.97 >=$2.41 & <=$3.27 Subsidy Per Hour >=$53.87 & <=$72.89 >=$55.37 & <=$74.91 >=$54.88 & <=$74.24 Subsidy Per Mile >=$4.34 & <=$5.88 >=$4.65 & <=$6.29 >=$4.56 & <=$6.18 Passengers Per Revenue Hour >=5.44 & <=7.36 >=5.02 & <=6.79 >=4.45 & <=6.04 Passengers Per Revenue Mile >=0.43 & <=0.59 >=0.42 & <=0.56 >=0.37 & <=0.51 Source: City of Corona SRTP, TransTrack Manager As shown in the SRTP, the City met the mandatory farebox ratio in FYs 2018-2019, 2019-2020, and 2020-2021. The City met two out of seven discretionary performance targets in FY 2019: passengers per hour and per mile. In FY 2020 and FY 2021, the City met six out of seven discretionary performance targets, failing to meet only operating cost per hour. Michael Baker International - 29 Triennial Performance Audit of City of Corona Transit Service — FYs 2019-2021 As part of the FY 2020 budgeting process, Corona Transit requested that the City allocate $48,000 in FTA Section 5307 funding toward the development of a Comprehensive Operational Analysis (COA) and, in FY 2021, requested an additional $52,000 in CARES act funding to go toward this project. Corona commissioned the development of the COA in late 2021 for the Corona Cruiser fixed route and Dial -A -Ride service as well as a customer satisfaction survey of the transit system. The COA effort was delayed because of the pandemic. The primary objective of the COA is to develop a plan that will enhance the efficiency and effectiveness of existing transit services while responding to the changing demands for transit throughout its service area and to provide recommendations for service improvements for a period of one to ten years. The trend in ridership for the three-year period shows a significant shift away from student riders. According to City ridership reports during the audit period, the number of student riders relative to total fixed -route ridership declined from about 23 percent in FY 2019 to about 7 percent in FY 2021. In contrast, students made up a larger percentage of general Dial -A -Ride ridership when that type of service was offered pre -pandemic. The COVID-19 pandemic was the largest culprit in the overall decline when schools closed. However, while the route schedule accommodates school bell times, much has changed in the city such as new developments and increased congestion which contribute to slower bus speeds and difficulty in meeting the schedule during peak hours. Although the COA is addressing this change in ridership, and as schools continue to return to more normal operations, the City should remain aware of this trend and focus on operational and marketing efforts to bring students back onto the transit system. The bus schedule also needs to be adjusted to reflect current travel times and improve on -time performance. In accordance with FTA's compliance deadline of July 20, 2021, Corona Transit adopted and self - certified its first Public Transit Agency Safety Plan (PTASP). City Council formally adopted the plan on September 3, 2020. The plan details the process and procedures Corona Transit utilizes to implement the agency's Safety Management Systems. Annual updates to the PTASP are required; while only self -certification and board adoption are required for ratification of a PTASP, FTA will formally review the plan for compliance during the federal triennial review process. Marketing Corona's transit services are marketed in electronic and print formats. The City has included a budget line item in the transit budget for marketing. The City's website contains a dedicated page with information about the transit system. The Corona Transit Services web page (www.CoronaCA.gov/transit) includes information about fares, routes, service hours, and tips in both English and Spanish. Brochures and schedules are available as PDF downloads. In the menu on the web page is a link to the Title VI Statement in English and Spanish with links to complaint procedures and forms and disclosures regarding passenger accommodation and non- discrimination. Quick response (QR) codes have been created for mobile devices to access information about the Corona Cruiser. Michael Baker International - 30 Triennial Performance Audit of City of Corona Transit Service — FYs 2019-2021 The City of Corona makes transit stop and schedule data available in the General Transit Feed Specification format, subject to the City of Corona Transit Data License Agreement. Downloading and usage of the transit data is based on acceptance and agreement to the data license agreement. Printed brochures are available for both service modes. The fixed -route colored trifold brochure, last updated in November 2020, provides a service area map with fare, schedule, and service hour information. The Dial -A -Ride color brochure was last updated in November 2020 and includes the updated no-show policy, as well as a service area map with the fixed -route lines. Brochures are published in-house. The City has requested the contract operator to document marketing efforts. Complaints are tracked by the contract operator and recorded onto the monthly report to the City. The MV Transportation general manager and assistant general manager will investigate complaints in- house. Complaints of a more serious nature are forwarded to the City for follow-up. Complaints are placed into the driver's file for reference. The website also has an email feedback form that transfers customer comments to City transit staff. To help with advertising transit and promoting ridership, the City is planning on implementing a new program for transit travel training and has asked the contract operator to attend and set up transit booths at various events. As policy, advertising is not sold on the bus. Rather, the City promotes a "Poetry and Art on the Bus" contest in partnership with local high schools to showcase local and cultural talent. Poetry and visual art are judged by a committee composed of students and school and Corona Transit staff. Winners are selected for their originality, awareness of experience, expressiveness, and imagination. The winning art is showcased on transit vehicles for one month; the winning artist receives a 31 -day bus pass, a certificate, and a $150 gift card. Corona allows advertising space on its bus shelters and has expressed interest in allowing advertising on board its vehicles. The City currently does not have an advertising policy and is looking to develop one. Revenue from advertising could be a potential source of farebox support under the provisions of the TDA. Pursuant to the federal Civil Rights Act of 1964, the City of Corona has adopted a Title VI Program. Title VI of the Civil Rights Act of 1964 requires that no person in the United States, on the grounds of race, color, or national origin, be excluded from, be denied the benefits of, or be subjected to discrimination under any program or activity receiving federal financial assistance. Program compliance includes a link to the Title VI policy on the Corona Transit Services web page (https://www.coronaca.gov/government/departments-divisions/public-works/title-vi) along with a complaint form in English and Spanish. Michael Baker International - 31 Triennial Performance Audit of City of Corona Transit Service — FYs 2019-2021 General Administration and Management The City of Corona was incorporated on July 13, 1896, as a general law city and has a council- manager form of government. The City Council serves as the principal legislative body and each councilmember is elected for a four-year term. Regular meetings of the City Council are convened on the first and fourth Wednesdays of each month at 6:30 p.m. in the Council Chambers at Corona City Hall. The City treasurer, who is also elected to a four-year term, acts as the fiscal agent for the City. The City experienced turnover in administration and leadership during the period with the election of new councilmembers as well as receiving a new city manager, assistant city manager, and public works director. The City manager is responsible for administrative and budgetary oversight of City departments. The City's public transit operations have been under the purview of the Public Works Department and managed and administered daily by the transportation planning supervisor and engineering technician. Managerial support was provided by the Public Works director. Effective August 16, 2021, transit administration comprised solely of the Transportation Planning Supervisor was moved under Community Services. The City Finance director and transit staff are responsible for the completion and submittal of the Transit Operators Financial Transactions Report to the State Controller. During the audit period, the City's Public Services Committee met monthly and reviewed proposed changes to the transit service. The Public Services Committee comprised two councilmembers, the City manager (or representative), assistant City manager, and department heads. This committee also reviewed the SRTP. The Public Services Committee was disbanded in December 2020, and the annual SRTP and most transit items go straight to the City Council for adoption. Other committees exist such as the Committee of the Whole, consisting of all five members of the City Council, which provides a workshop setting for Council to discuss issues, deliberate, and give feedback, direction, or preliminarily review. However, there have not been any transit items that were required to be taken and reviewed by this committee. In addition, the T -NOW local chapter, which an elected official from Corona attends, addresses transit issues in Corona. The City's transit facility is located at 735 West Public Safety Way in the City's Corporation Yard. From this location the contract operator provides administrative and dispatching services as well as vehicle parking and fueling. The contract operator has an on -site project manager who oversees the day-to-day transit functions and staff. An RFP for contracted fixed -route and Dial -a -Ride operations and maintenance was released by the City in March 2018. MV Transportation was selected by the City to operate the transit system. The contract start date was pushed out to September 1, 2018, from the initial start date of July 1, 2018. In the interim, the City and Transportation Concepts executed a contract amendment for an additional two -month period prior to MV Transportation taking over as contractor. The new contract with MV Transportation contains increased oversight and accountability provisions as well as liquidated damages clauses. The City also consulted the RTA for guidance on contract administration. Michael Baker International - 32 Triennial Performance Audit of City of Corona Transit Service — FYs 2019-2021 Upon becoming contract operator, MV Transportation submitted an implementation plan to the City and provides daily reports. The contractor and the City meet every three weeks; meetings include the City's transportation planning supervisor, engineering technician, and public works director. Monthly performance reports are due on the tenth of the month and are formatted on an Excel spreadsheet. The City transportation planning supervisor selects sample performance reports in the invoice to investigate, and assesses liquidated damages or awards incentives for actual service measures. Liquidated damages are assessed on the contractor for not meeting specific operational standards in the contract, such as excessive early or late trips. Penalty amounts range from $50 to $1,000 per incident depending on the infraction, including on -time performance, complaints, late pullouts, and non -compliant PMIs. Incentives are given for exceeding on -time performance and no preventable accidents in a quarter. The primary source of transit funding support is derived from the LTF. The City submits the annual TDA claim for funds to RCTC. TDA claims are based on the City's annual transit budget and the financial element of the SRTP. Reserve allocations for LTF and STA funds are included as separate line items on the claim form. The City's LTF allocation goes toward operations whereas STA funds are allocated toward capital purchases and improvements. During the audit period, an FTA triennial review took place virtually on March 29 through April 12, 2021, with the final report being released on June 9, 2021. The triennial review focused on the City's compliance in 21 areas. No deficiencies were found with FTA requirements in any of the 21 areas. On June 8, 2021, the FTA issued a report closure letter. Grants Management Grant funding allocated toward the transit system has been derived from state and federal sources. The City uses an Open Capital Grants report spreadsheet to track grant activity on a quarterly basis. The spreadsheet is configured based on the allocation year, assigned project number, project name, allocation of funds by source, funds spent during the quarter and to date, remaining balance, and project status and milestones. Corona received state Public Transportation Modernization, Improvement and Service Enhancement Account (PTMISEA) funds as a part of the Proposition 1B bond act. Funds were used for the purchase of the Dial -A -Ride buses in 2018 while remaining residual PTMISEA funds were used towards the CNG slow -fill hose replacement project also completed in 2018. South Coast Air Quality Management District funds (AB2766 Subvention funds) were used for a bus pass subsidy program, and to pay for Western Riverside Council of Governments coalition fees. Low Carbon Transit Operations Program (LCTOP) funds have been used toward free fare days to boost ridership. The City started using LCTOP funds in July 2021 for free fare for seniors on Fridays and during the first week of school for students.' FTA Section 5307 funds have been 5 Most recently, free fares for all was implemented starting February 2022 through June 2022 in order to utilize as much LCTOP funds. Michael Baker International - 33 Triennial Performance Audit of City of Corona Transit Service — FYs 2019-2021 applied towards vehicle procurement in the past in addition to being used primarily to cover operating costs. LTF and STA revenues are also used as matching funds for FTA grants. LTF funds are used for operating match while STA funds are used for capital match. In addition, over the past decade, Corona has been receiving a $10,000 annual contribution from the Corona Regional Medical Center. The annual SRTP identifies and lists capital projects for funding that are approved through the SRTP process. Using a matrix worksheet for transit grant revenues, the City tracks and categorizes projects by source, project allocation, appropriation, drawdown availability, the amount spent, and amount remaining. Capital project activity over the last three years during the performance period includes purchase of replacement Dial -A -Ride buses, CNG slow -fill hose replacement, Cruiser bus stop solar battery replacement project, relocation of bus shelter and procurement of support equipment & software. Future projects include the following: • Intelligent Transportation System (includes advanced fare payment system) • Route Development Buses (4) • ADA Accessible Van (2) • Support Equipment and Software • Digital Land Mobile Radio System • Bus Stop Improvements and Amenities • Canopy/Roof Structure for Bus Parking Area • Replacement Buses Michael Baker International - 34 Triennial Performance Audit of City of Corona Transit Service — FYs 2019-2021 Section VI Statement of Facts The following summarizes factual events and trends obtained from this triennial audit covering fiscal years 2019 through 2021. A set of recommendations is then provided. 1. Of the compliance requirements pertaining to the City of Corona Transit Service, the operator fully complied with seven of the nine applicable requirements. The City was in partial compliance regarding the timely submittal of the FY 2019 fiscal and compliance audit and farebox recovery attainment for FY 2021.6 Two additional compliance requirements are not applicable to Corona (i.e., intermediate farebox recovery ratio and rural area farebox recovery ratio). 2. Effective FY 2018, Corona adopted a blended system -wide farebox recovery ratio of 15 percent, in consultation with RCTC, based on the available data from the audited City of Corona Transit Services Fund Financial Statements. Under the revised farebox recovery standard, the fixed route is subject to a 20 percent farebox recovery and Dial -A -Ride would be subject to a 10 percent farebox recovery. The system -wide farebox recovery ratios were 17.56 percent in FY 2019, 17.65 percent in FY 2020, and 4.29 percent in FY 2021. It is noted that the audited farebox ratio in FY 2021 was adversely impacted from the COVID-19 pandemic and state shelter -in -place order as well as the suspension of fare collection. The City utilized an allowable combination of additional local support revenues in order to meet minimum farebox recovery attainment in FY 2019 and FY 2020. 3. Through its contract operator, the City participates in the CHP Transit Operator Compliance Program in which the CHP has conducted inspections within the 13 months prior to each TDA claim. The CHP inspection reports submitted for review were found to be satisfactory. 4. The City of Corona Transit Fund operating budget exhibited modest fluctuations during the audit period. The budget increased by 1.9 percent in FY 2019 and 11.4 percent in FY 2020. In FY 2021, the budget decreased by 4.4 percent. The budget increases are attributed to higher salary and benefit costs as well as the new operations and maintenance contract. 5. Corona satisfactorily implemented one of the three prior audit recommendations. The recommendation pertained to the completion and submittal of separate State Controller Reports for both general and specialized service. The two remaining recommendations were partially implemented and pertain to the continued implementation of ADA subscription services on Dial -A -Ride and the inclusion of additional locally generated revenue in the 6 Assembly Bill 90, passed into law and signed by the governor in June 2020 in response to the COVID-19 pandemic impacts, prohibits the imposition of penalties on a transit operator by RCTC that does not maintain the required ratio of fare revenues to operating cost during the FY 2019-20 or FY 2020-21. Michael Baker International - 35 Triennial Performance Audit of City of Corona Transit Service - FYs 2019-2021 farebox recovery. The ADA subscription service recommendation is being carried forward for full implementation. 6. Operating cost per vehicle service hour, an indicator of cost efficiency, decreased 1.3 percent system -wide based on audited data from the FY 2018 base year through FY 2021. Based on the unaudited NTD reports, this indicator increased 14.4 percent and 45.9 percent on the fixed route and Dial -A -Ride, respectively. These relatively high growth rates on a modal basis are negative indicators of cost efficiency, or in other terms, the cost of producing a unit of transit service. 7. Operating cost per passenger, an indicator of cost effectiveness, increased 69.6 percent system -wide based on audited data from the FY 2018 base year through FY 2021. On a modal basis, cost per passenger increased 92.9 percent and 161.8 percent on fixed route and Dial -A - Ride, respectively, during the audit period. The increased indicator is due to increased costs coupled with decreased ridership for both modes due to the COVID-19 pandemic. This higher percentage indicates reduced effectiveness in the delivery of services. Ridership system -wide decreased by 61.6 percent, from 234,318 passengers in FY 2018 to 90,031 passengers in FY 2021, while operating costs decreased 34.9 percent for the same period. 8. Passengers per vehicle service hour, which measures the effectiveness of the service delivered, declined 41.8 percent from the FY 2018 base year through FY 2021. Fixed route experienced a decrease of 40.7 percent from FY 2018. Passengers per hour for Dial -A -Ride declined by 44.3 percent. System -wide, the number of passengers per service hour fell from 7.4 in FY 2018 to 4.3 in FY 2021. On the fixed route, this indicator decreased from 8.9 passengers per hour in FY 2018 to 5.3 passengers in FY 2021. For Dial -A -Ride, the number of passengers per hour decreased from 3.8 to 2.1 during the same time period. 9. Passengers per vehicle service mile, another indicator of service effectiveness, decreased 38.7 percent system -wide, from 0.59 in FY 2018 to 0.36 in FY 2021. For fixed -route operations, the number of passengers per service mile decreased 38.8 percent, from 0.75 to 0.46 between FY 2018 and FY 2021. On Dial -a -Ride, passengers per service mile decreased 45.7 percent over the same period. Passenger trips decreased at a higher percentage rate than vehicle service miles for both service modes. 10. On July 18, 2018, the City Council awarded MV Transportation the contract for the operation of City of Corona Transit Service. Previously the service was operated under contract by Irvine -based Transportation Concepts. MV Transportation commenced operations effective September 1, 2018. The transition from Transportation Concepts to MV Transportation took approximately one year. 11. Corona implemented measures and protocols to mitigate the spread of COVID-19 that included increased sanitation of buses and bus stop shelters and equipment; suspension of fare collection to reduce contact and increased social distancing; enforcement of the mask mandate policy on board buses; provision of hand sanitizer and masks on board buses; and the installation of driver barriers on board buses. Michael Baker International - 36 Triennial Performance Audit of City of Corona Transit Service — FYs 2019-2021 12. The trend in ridership for the three-year period shows a significant shift away from student riders on fixed route, declining from about 23 percent in FY 2019 to about 7 percent in FY 2021. The COVID-19 pandemic was the largest culprit in the overall decline when schools closed. However, while the route schedule accommodates school bell times, much has changed in the city such as new developments and increased congestion which contribute to slower bus speeds and difficulty in meeting the schedule during peak hours. 13. MV Transportation conducts vehicle maintenance in-house and employed two full-time mechanics, one A level and one B level mechanic, as well as a maintenance manager. Vehicles are maintained at an off -site facility located in the city of Ontario, approximately 13 miles from the City Corporation Yard. The facility has up to three service bays, a parts room, maintenance manager's office, and a large upstairs storage room. The facility can accommodate up to three vehicles. 14. The City's public transit operations have been under the purview of the Public Works Department and managed and administered daily by the transportation planning supervisor and engineering technician. Managerial support was provided by the Public Works director. Effective August 16, 2021, transit administration was moved under Community Services. 15. Corona underwent a virtual FTA triennial review from March 29 through April 12, 2021, with the final report being released on June 9, 2021. The triennial review focused on the City's compliance in 21 areas. No deficiencies were found with FTA requirements in any of the 21 areas. On June 8, 2021, the FTA issued a report closure letter. Michael Baker International - 37 Triennial Performance Audit of City of Corona Transit Service — FYs 2019-2021 Recommendations 1. Continue process of implementing ADA subscription services on Dial -A -Ride. This recommendation is being carried forward from the prior audit. The City is still in the process of implementing an ADA subscription service. Dial -A -Ride's transition from general public to a specialized service for ADA-certified and senior passengers makes the subscription service option more feasible. Subscription trips to the Inland Empire Adult Day Health Care Center and other adult day care centers have been ongoing. In addition, the City already monitors ADA trips to ensure that there are no capacity constraints. Nevertheless, the City has indicated its willingness to work with the contract operator and review the feasibility of establishing a formal ADA Subscription Services Policy. A call-back function to remind riders of their upcoming trips will also improve operating efficiency and effectiveness. The City will be incorporating a call-back function in the next ITS project. 2. Include additional locally generated revenue in the farebox recovery. During the audit period, Corona adopted a blended farebox recovery standard of 15 percent. The revenues in the farebox ratio are composed primarily of passenger fares, City supplemental support revenues, and South Coast Air Quality Management District subsidies. State legislation (SB 508) reinforces current RCTC practice of allowing other locally generated revenues in the farebox ratio. These other revenues could include advertising generated by the transit system, bus wraps on the vehicles, and other local contributions from the City to the transit program. Additional state legislation (Assembly Bill 149) allows other support revenue such as free and reduced transit fares to be counted toward farebox recovery at full retail value, and federal funds to be counted as "local funds." Corona allows advertising space on its bus shelters and has expressed interest in allowing advertising on board its vehicles. The City currently does not have an advertising policy but has expressed interest in developing one. However, staffing and budgetary constraints make it difficult to pursue. Nevertheless, given the farebox recovery trends, the City should pursue this measure to incorporate other locally generated revenue in its farebox recovery. 3. Develop COVID-19 recovery plan and target core ridership including student riders. Significant student ridership declines were shown in City ridership reports during the audit period. The COVID-19 pandemic was the largest culprit in the overall decline when schools closed. However, while the route schedule accommodates school bell times, much has changed in the city such as new developments and increased congestion which contribute to slower bus speeds and difficulty in meeting the schedule during peak hours. Although the COA is addressing this change in ridership, and as schools continue to return to more normal operations, the City should remain aware of this trend and focus on operational and marketing efforts to bring students back into the transit system. A COVID-19 recovery plan should be developed that focuses on core rider markets including students. The recovery plan could include steps to improve bus service to continue meeting school bell times and be Michael Baker International - 38 Triennial Performance Audit of City of Corona Transit Service — FYs 2019-2021 part of SRTP planning. Surveys of students would help provide primary data. An evaluation of route schedules and school bell times should be conducted to address the decline and improve on -time performance over the longer term. Targeted marketing and fare pricing should also be considered in the COA process. Michael Baker International - 39 ATTACHMENT 5 RCTC RIVERSIDE COUNTY TRANSPORTATION COMMISSION FY 2019-2021 Triennial Performance Audit of City of Riverside Special Transportation Services RIVERSIDE CLt:NNECT October 2022 Submitted to: Riverside County Transportation Commission Submitted by: Michael Baker INTERNATIONAL TABLE OF CONTENTS Section I 1 Introduction 1 Overview of the Transit System 1 Section II 4 Operator Compliance Requirements 4 Section II I 10 Prior Triennial Performance Recommendations 10 Section IV 13 TDA Performance Indicators 13 Section V 20 Review of Operator Functions 20 Operations 20 Maintenance 24 Planning 26 Marketing 26 General Administration and Management 27 Section VI 30 Statement of Facts 30 Recommendations 32 Triennial Performance Audit of City of Riverside Special Transportation Services — FYs 2019-2021 Section 1 Introduction California's Transportation Development Act (TDA) requires that a triennial performance audit be conducted of public transit entities that receive TDA revenues. The performance audit serves to ensure accountability in the use of public transportation revenue. The Riverside County Transportation Commission (RCTC) engaged Michael Baker International to conduct the TDA triennial performance audit of the public transit operators under its jurisdiction in Riverside County. This performance audit is conducted for the City of Riverside Special Transportation Services (City, STS) covering the most recent triennial period, fiscal years 2018- 2019 through 2020-2021. The purpose of the performance audit is to evaluate the City's effectiveness and efficiency in its use of TDA funds to provide public transportation in its service area. This evaluation is required as a condition for continued receipt of these funds for public transportation purposes. In addition, the audit evaluates the City's compliance with the conditions specified in the California Public Utilities Code (PUC). This task involves ascertaining whether the transit agency is meeting the PUC's reporting requirements. Moreover, the audit includes calculations of transit service performance indicators and a detailed review of the transit administrative functions. From the analysis that has been undertaken, a set of recommendations has been made which is intended to improve the performance of transit operations. In summary, this TDA audit affords the opportunity for an independent, constructive, and objective evaluation of the organization and its operations that otherwise might not be available. The methodology for the audit included in -person interviews with management, collection and review of agency documents, data analysis, and on -site observations. The Performance Audit Guidebook for Transit Operators and Regional Transportation Planning Entities published by the California Department of Transportation (Caltrans) was used to guide in the development and conduct of the audit. Overview of the Transit System The City of Riverside has provided Dial -A -Ride service for the elderly and disabled since the summer of 1975. The service was initially conceived to provide seniors with transportation to nutrition programs. The Dial -A -Ride service has since grown with rides being provided anywhere within the city limits —a service area encompassing close to 82 square miles. Seniors using the service are transported to a variety of destinations, including shopping, adult education, work, social activities, and medical appointments. Based on the 2020 US Census, Riverside's population is 314,998, which has grown 3.7 percent since the 2010 US Census. The senior citizen population, comprising residents aged 60 and over, is 15.1 percent. The 2021 population for Riverside is estimated to be 324,302, as reported by the Michael Baker International - 1 Triennial Performance Audit of City of Riverside Special Transportation Services — FYs 2019-2021 California Department of Finance, Population Estimates for Cities, Counties, and the State January 1, 2021. The city covers 81.14 square miles. Riverside STS is administered by the City's Parks, Recreation and Community Services Department as part of the social service programs offered by the City. The department also administers senior centers and programs, youth opportunity centers, and BRIDGE, a gang prevention program. In August 1992, the City entered into a memorandum of understanding (MOU) with the Riverside Transit Agency (RTA) to provide complementary paratransit service to RTA's fixed -route service within the city boundaries under the Americans with Disabilities Act (ADA) of 1990. An amendment to the MOU was approved in September 1994, which eliminated STS's obligation for the provision of evening ADA service because of low ridership and transferred the hours to increase day service to meet growing demand. In April 2003, an MOU was executed between the City of Riverside and RTA (later amended and restated in November 2012) that reaffirmed the City's commitment to provide ADA service and included specific criteria for the provisions of service pursuant to the ADA. To raise its visibility within the community, the City launched a rebranding effort for STS, which went "live" on July 1, 2021, with STS becoming "Riverside Connect." Rebranded media included new advertisements, a revised website, and new bus wraps showcasing a new logo and brand identity. These efforts were made possible through assistance from the City's Marketing Division and Riverside TV. STS staff plans to capitalize on the new attention resulting from the rebranding and focus future marketing efforts on attracting key demographics ,including disabled veterans and new seniors. System Characteristics STS provides curb -to -curb demand -responsive transit services within the city limits of Riverside to senior citizens aged 60 and older as well as to persons with disabilities certified under the ADA. Operating hours are Monday through Friday from 8:00 a.m. to 5:00 p.m. and Saturdays, Sundays, and holidays from 9:00 a.m. to 3:00 p.m. Service does not operate on Thanksgiving, Christmas, and New Year's Day. Rides are scheduled in 15 -minute intervals. STS provides ADA complementary paratransit service during the service hours of RTA fixed -route service within the city limits. Fares The fare for a one-way trip is $3.00 and $2.00 for a one-way medical trip. General multi -trip booklets are $30.00 and medical multi -trip booklets are $20.00. Attendants accompanying ADA- certified passengers ride free. Michael Baker International - 2 Triennial Performance Audit of City of Riverside Special Transportation Services — FYs 2019-2021 Fleet STS operates a fleet of 36 revenue vehicles, including 34 minibuses powered by compressed natural gas (CNG) and two 9 -passenger unleaded fuel vans. All vehicles comply with the ADA requirements by being equipped with wheelchair lifts. A detailed description of STS's fleet is presented in Table 1-1. Table 1-1 STS Fleet Year Make/Model Quantity Fuel Type Seating Capacity 2010 Ford E450 Glaval III 4 CNG 16 (2 W/C) 2011 Ford E450 3 CNG 16 (2 W/C) 2012 Ford E450 2 CNG 16 (2 W/C) 2013 Ford E450 5 CNG 16 (2 W/C) 2014 Ford E450 9 CNG 16 (2 W/C) 2017 Ford E450 8 CNG 16 (2 W/C) 2019 Ford E450 3 CNG 16 (2 W/C) 2019 Ford TR Van 2 Gasoline 9 (2 W/C) Total 36 Source: City of Riverside Specialized Transportation Services Note: W/C=wheelchair Michael Baker International - 3 Triennial Performance Audit of City of Riverside Special Transportation Services — FYs 2019-2021 Section 11 Operator Compliance Requirements This section of the audit report contains the analysis of the City's ability to comply with state requirements for continued receipt of TDA funds. The evaluation uses the Performance Audit Guidebook for Transit Operators and Regional Transportation Planning Agencies, September 2008 (third edition), developed by Caltrans, to assess transit operators. The guidebook contains a checklist of 11 measures taken from relevant sections of the Public Utilities Code and the California Code of Regulations. Each of these requirements is discussed in the table below, including a description of the system's efforts to comply with the requirements. In addition, the findings from the compliance review are described in the text following the table. Table 11-1 Operator Compliance Requirements Matrix Operator Compliance Requirements Reference Compliance Efforts The transit operator has submitted annual reports to the RTPA based upon the Uniform System of Accounts and Records established by the State Controller. Report is due within seven (7) months after the end of the fiscal year (on or before January 31). The report shall contain underlying data from audited financial statements prepared in accordance with generally accepted accounting principles, if this data is available. Public Utilities Code, Section 99243 Completion/submittal dates: FY 2019: January 22, 2020 FY 2020: January 26, 2021 FY 2021: January 26, 2022 Conclusion: Complied. The operator has submitted annual fiscal and compliance audits to the RTPA and to the State Controller within 180 days following the end of the fiscal year (Dec. 27) or has received the appropriate 90 -day extension by the RTPA allowed by law. Public Utilities Code, Section 99245 Completion/submittal dates: FY 2019: April 13, 2020 FY 2020: March 31, 2021 FY 2021: January 25, 2022 A 90 -day extension was granted by the RCTC pursuant to the TDA statute. Michael Baker International - 4 Triennial Performance Audit of City of Riverside Special Transportation Services — FYs 2019-2021 Table 11-1 Operator Compliance Requirements Matrix Operator Compliance Requirements Reference Compliance Efforts The FY 2019 fiscal and compliance audits were submitted after the 90 -day extension period. Conclusion: Partial Compliance. The CHP has, within the 13 months prior to each TDA claim submitted by an operator, certified the operator's compliance with Vehicle Code Section 1808.1 following a CHP inspection of the operator's terminal. Public Utilities Code, Section 99251 B The City participates in the California Highway Patrol (CHP) Transit Operator Compliance Program in which the CHP has conducted inspections within the 13 months prior to each TDA claim. Inspections were conducted at the City of Riverside General Services Division located at 8095 Lincoln Avenue. Inspection dates applicable to the audit period were March 6, 7, and 9, 2018; April 3, 4, and 5, 2019; April 29 and 30, 2020; and May 15 and 19, 2020. All inspections conducted were rated satisfactory. Conclusion: Complied. The operator's claim for TDA funds is submitted in compliance with rules and regulations adopted by the RTPA for such claims. Public Utilities Code, Section 99261 As a condition of approval, the City's annual claims for Local Transportation Funds and State Transit Assistance are submitted in compliance with the rules and regulations adopted by the RCTC. Conclusion: Complied. If an operator serves Public Utilities Code, Section This requirement is not Michael Baker International - 5 Triennial Performance Audit of City of Riverside Special Transportation Services — FYs 2019-2021 Table 11-1 Operator Compliance Requirements Matrix Operator Compliance Requirements Reference Compliance Efforts urbanized and non- urbanized areas, it has maintained a ratio of fare revenues to operating costs at least equal to the ratio determined by the rules and regulations adopted by the RTPA. 99270.1 applicable, as STS only serves an urbanized area. Conclusion: Not Applicable. The operator's operating budget has not increased by more than 15% over the preceding year, nor is there a substantial increase or decrease in the scope of operations or capital budget provisions for major new fixed facilities unless the operator has reasonably supported and substantiated the change(s). Public Utilities Code, Section 99266 Percentage change in STS's operating budget: FY 2019: -7.0% FY 2020: +4.5% FY 2021: +9.7% Operating budget increases are attributed to salaries and benefits, contract services, and non -personnel costs. Source: City of Riverside Short - Range Transit Plan. Conclusion: Complied. The operator's definitions of performance measures are consistent with Public Utilities Code Section 99247, including (a) operating cost, (b) operating cost per passenger, (c) operating cost per vehicle service hour, (d) passengers per vehicle service hour, (e) passengers per vehicle service mile, (f) total passengers, (g) transit vehicle, (h) vehicle service hours, (i) vehicle Public Utilities Code, Section 99247 STS's definition of performance is consistent with Public Utilities Code Section 99247. A review of TransTrack Manager reports and trip sheets generated during the audit period indicates that correct performance data are being collected. Conclusion: Complied. Michael Baker International - 6 Triennial Performance Audit of City of Riverside Special Transportation Services — FYs 2019-2021 Table 11-1 Operator Compliance Requirements Matrix Operator Compliance Requirements Reference Compliance Efforts service miles, and (j) vehicle service hours per employee. If the operator serves an urbanized area, it has maintained a ratio of fare revenues to operating costs at least equal to one -fifth (20 percent), unless it is in a county with a population of less than 500,000, in which case it must maintain a ratio of fare revenues to operating costs of at least equal to three -twentieths (15 percent), if so determined by the RTPA. Public Utilities Code, Sections 99268.2, 99268.3, 99268.12, 99270.1 This requirement is not applicable, as STS provides exclusive services to ADA- certified individuals and seniors. Conclusion: Not Applicable. If the operator serves a rural area, or provides exclusive services to elderly and disabled persons, it has maintained a ratio of fare revenues to operating costs at least equal to one -tenth (10 percent). Public Utilities Code, Sections 99268.2, 99268.4, 99268.5 Operating ratios for STS using audited data were as follows: FY 2019: 11.33% FY 2020: 9.23% FY 2021: 1.65% Riverside STS is subject to a system -wide farebox standard of 10 percent. The system did not meet the minimum farebox ratio in FY 2020 and FY 2021. Source: City of Riverside Special Transit Fund Financial Statements (Audited) Conclusion: Partial Compliance. The current cost of the operator's retirement system is fully funded with respect to the officers and Public Utilities Code, Section 99271 To be eligible for TDA funds, the annual TDA claims form requires a sign -off from the transit claimant to comply with standard Michael Baker International - 7 Triennial Performance Audit of City of Riverside Special Transportation Services — FYs 2019-2021 Table 11-1 Operator Compliance Requirements Matrix Operator Compliance Requirements Reference Compliance Efforts employees of its public transportation system, or the operator is implementing a plan approved by the RTPA which will fully fund the retirement system within 40 years. assurances, one of which is that the City of Riverside's retirement system is funded. City staff's retirement is funded through the California Public Employees Retirement System (CaIPERS). Conclusion: Complied. If the operator receives state transit assistance funds, the operator makes full use of funds available to it under the Urban Mass Transportation Act of 1964 before TDA claims are granted. California Code of Regulations, Section 6754(a)(3) As a recipient of State Transit Assistance funds, the City of Riverside is making full use of federal funds available under the Urban Mass Transportation Act of 1964 as amended. FY 2019: $96,000 (Capital) $254,766 (Capital assistance on Operations) FY 2020: $457,483 (Capital) $284,861 (Capital assistance on Operations) FY 2021: $3,733,207 (Operations) $1,458 (Capital) $152,182 (Capital assistance on Operations) Source: Transit Operator Financial Transactions Reports Conclusion: Complied. Michael Baker International - 8 Triennial Performance Audit of City of Riverside Special Transportation Services — FYs 2019-2021 Findings and Observations from Operator Compliance Requirements Matrix 1. Of the compliance requirements pertaining to the City, the operator fully complied with seven out of the nine applicable requirements. The City was in partial compliance with regard to the timely completion and submittal of its annual fiscal and compliance audits and farebox recovery attainment. Two additional compliance requirements did not apply to the operator (intermediate and urban farebox recovery ratios). 2. Based on the farebox calculation in the annual Transit Services Fund Financial Statements (audited), Riverside's farebox recovery ratio met or exceeded the required minimum standard of 10 percent in one of the three audit years. The system -wide farebox recovery ratios were 11.33 percent in FY 2019, 9.23 percent in FY 2020, and 1.65 percent in FY 2021.1 It is noted that the audited farebox ratios in FY 2020 and FY 2021 were adversely impacted from the COVID-19 pandemic and state shelter -in -place order as well as the suspension of fare collection. 3. The City participates in the CHP Transit Operator Compliance Program in which the CHP conducted inspections within the 13 months prior to each TDA claim. The CHP inspection reports submitted for review were found to be satisfactory. 4. Annual operating budget fluctuations remained below 15 percent during the audit period. The budget decreased 7.0 percent in FY 2019 followed by increases of 4.5 percent in FY 2020 and 9.7 percent in FY 2021. Operating budget increases are attributed to salaries and benefits, contract services, and non -personnel costs. 1 Assembly Bill 90, passed into law and signed by the governor in June 2020 in response to the COVID-19 pandemic impacts, prohibits the imposition of penalties on a transit operator that does not maintain the required ratio of fare revenues to operating cost during the FY 2019-20 or FY 2020-21. Michael Baker International - 9 Triennial Performance Audit of City of Riverside Special Transportation Services — FYs 2019-2021 Section 111 Prior Triennial Performance Recommendations STS's efforts to implement the recommendations made in the FY 2016-2018 triennial performance audit are examined in this section of the report. For this purpose, each prior recommendation for the agency is described, followed by a discussion of STS's efforts to implement the recommendation. Conclusions concerning the extent to which the recommendations have been adopted by the agency are then presented. Prior Recommendation 1 Pursue targeted marketing efforts and rebranding of the service. Background: STS is tasked with serving the mobility needs of seniors, ADA-certified persons, and persons with disabilities in the City of Riverside. The prior audit found that the senior population in the city (those 60 years of age and over) accounted for approximately 15.1 percent of the population based on the 2018 American Community Survey estimates. Riverside remained below the national average of seniors aged 60 and over, which is 21.8 percent; however, due to the Baby Boomer generation aging into their sixties, it has been anticipated that the senior population will continue to increase. With the slow erosion in ridership in recent years, STS had been contemplating strategies to improve its messaging and outreach to the community. The transportation supervisor was encouraged to conduct outreach and brainstorm ways to better engage the customer base. There is a perception in the community that the name "Special Transportation" is not particularly appealing and conveys a stodgy image. In the spirit of the City's innovative philosophy, it was suggested that STS work with the City's marketing team to develop a brand identity for the transit service. This could be done in concert with the implementation of STS's fleet of nine - passenger minibuses and mobile fare collection. With the adoption of the $2.00 medical fare, STS could collaborate with local medical providers and services (such as dialysis centers and adult day-care facilities) that would market trips to their patients. Veterans are also another market that STS could target. Actions taken by STS In response to this recommendation as well as due to internal planning efforts, STS embarked on a total rebranding of its service name and brand identity. With the assistance of the City's Marketing Division and Riverside TV, the service, beginning July 1, 2021, officially became known as "Riverside Connect." Along with new advertisements and a revised website, all of the buses in the STS fleet were rewrapped with a new logo and image to create a brand identity for the service. Subsequently, the Special Transportation Division intends to look at other ways to market the service to key demographic markets such as disabled veterans and new seniors who Michael Baker International - 10 Triennial Performance Audit of City of Riverside Special Transportation Services — FYs 2019-2021 have turned 60 years of age but may not know that the City offers this type of transportation service specifically for their age group. Conclusion This recommendation has been implemented. Prior Recommendation 2 Conduct a strategic planning process. Background: The prior audit noted that the annual Short -Range Transit Plan (SRTP) process has been a useful tool in monitoring operational trends, but it does not provide a strategic vision over a 5-, 10-, or 20 -year time frame. STS is self-sustaining in that it does not rely on City General Fund revenues for support. However, given changes in the transit funding landscape and the challenges in recruitment and marketing that pose potential impediments to growth and sustainability, the prior audit stressed that STS needed a process that could provide guidance and momentum. A 5- or 10 -year strategic plan would establish guiding principles of how STS can build upon its 45 - year legacy as a demand -response transit operator by setting goals, objectives, and strategies for attaining its vision. A strategic plan would also build on the recent efforts of STS to be more technically innovative and offer direction on potential funding opportunities and partnerships. As part of this effort, it was suggested that STS assess its strengths, weaknesses, opportunities, and challenges for providing service in a dynamic transit market and capitalize on its position as a regional mobility provider. Furthermore, it was suggested that STS consider emerging trends and innovative strategies being implemented or considered within the industry. Actions taken by STS In response to this recommendation, staff determined that in order to create a strategic plan that addressed all areas of concern, a thorough analysis of the operation would be necessary. As a result, it was decided that the City would hire a consultant to complete a Comprehensive Operational Analysis (COA). In collaboration with the City's Purchasing Division, staff researched other agencies' efforts in completing this process and developed a scope of work. On June 7, 2021, the City's Purchasing Division issued a Request for Proposals (RFP) for professional services for the development of a COA. Part of the scope was also for consulting services for the preparation for the upcoming Federal Transit Administration (FTA) Triennial Review. One proposal was received; however, the bid was ultimately rejected on August 30, 2021, due to the timing of the upcoming FTA Triennial Review. Since then, RCTC staff has alluded to the possibility of hiring a consultant to conduct COAs for transit agencies in its jurisdiction. With this information, City of Riverside staff is considering Michael Baker International - 11 Triennial Performance Audit of City of Riverside Special Transportation Services — FYs 2019-2021 whether to proceed on its own or in partnership with the RCTC. Strategic planning efforts will follow the completion of the COA phase. Conclusion This recommendation has not been implemented; however, STS is considering whether to proceed with its own COA effort or to partner with the RCTC. This recommendation is being carried forward for full implementation. Michael Baker International - 12 Triennial Performance Audit of City of Riverside Special Transportation Services — FYs 2019-2021 Section IV TDA Performance Indicators This section reviews STS's performance in providing transit service to the community in an efficient and effective manner. TDA requires that at least five specific performance indicators be reported, which are contained in the following tables. Farebox recovery ratio is not one of the five specific indicators but is a requirement for continued TDA funding. Therefore, farebox calculation is also included. Two additional performance indicators that gauge service effectiveness and revenue, operating cost per mile and average fare per passenger, are included as well. Findings from the analysis are contained in the section following the tables. Table IV -1 provides the performance indicators for STS, and the following graphs depict the trends in the indicators. It is noted that the operating costs and fare revenues are based on audited figures. Michael Baker International - 13 Triennial Performance Audit of City of Riverside Special Transportation Services - FYs 2019-2021 Table IV -1 City of Riverside Special Transportation Services TDA Performance Indicators Audit Period Performance Data and Indicators FY 2018 FY 2019 FY 2020 FY 2021 % Change FY 2018 - 2021 Operating Cost (less depreciation) $4,053,083 $3,886,137 $4,119,034 $4,086,508 0.8% Total Passengers 153,559 139,878 97,080 26,518 -82.7% Vehicle Service Hours 45,472 42,557 31,454 14,051 -69.1% Vehicle Service Miles 615,113 576,393 423,571 182,643 -70.3% Employee FTEs 40 42 49 48 20.0% Total Passenger Fares $443,070 $440,478 $309,027 $65,367 -85.2% Local Support Revenues $0 $0 $70,972 $2,202 n/a Total Fare Revenues (1) $443,070 $440,478 $379,999 $67,569 -84.7% Operating Cost per Passenger $26.39 $27.78 $42.43 $154.10 483.9% Operating Cost per Vehicle Service Hour $89.13 $91.32 $130.95 $290.83 226.3% Operating Cost per Vehicle Service Mile $6.59 $6.74 $9.72 $22.37 239.6% Passengers per Vehicle Service Hour 3.4 3.3 3.1 1.9 -44.1% Passengers per Vehicle Service Mile 0.25 0.24 0.23 0.15 -41.8% Vehicle Service Hours per Employee 1,136.8 1,013.3 641.9 292.7 -74.2% Average Fare per Passenger $2.89 $3.15 $3.18 $2.47 -14.6% Fare Recovery Ratio (1) 10.93% 11.33% 9.23% 1.65% -84.9% Consumer Price Index - (CPI -Los Angeles)(�) 3.5% 3.4% 2.5% 2.0% 8.1% Source: Annual Fiscal & Compliance Audits; State Controller Reports (1) Inclusive of other local contributions including interest revenue and damage claim recoveries (2) Percentage change in the three-year CPI is based on the difference between the FY 2021 price index and FY 2018 price index. The annual CPI is the change in the price index from the prior year. It is noted that the LA- Riverside- Orange CPI was updated as two separate CPI's. RCTC utilizes the Riverside -San Bernardino -Ontario CPI index as of FY 21. Michael Baker International - 14 Triennial Performance Audit of City of Riverside Special Transportation Services — FYs 2019-2021 Graph IV -1 Operating Costs S4,150,000 54,100,000 S4,050,000 S4,000,000 S3,950,000 S3,900,000 S3,850,000 S3,800,000 53,750,000 180,000 160,000 140,000 120.000 100,000 80,000 60,000 40,000 20, 000 FY 2018 'Y 201`_) Graph IV -2 Ridership FY 2018 FY 2019 FY 2020 FY 2021 f FY 2020 FY 2021 Michael Baker International - 15 Triennial Performance Audit of City of Riverside Special Transportation Services — FYs 2019-2021 Graph IV -3 Operating Cost per Passenger 5180.00 S160.00 5140.00 5120.00 5100.00 580.00 560.00 540.00 520.00 5- S350.00 5300.00 S250.00 5200.00 S150.00 5100.00 550.00 5 - FY 2018 FY 2019 FY 2020 FY 2021 Graph IV -4 Operating Cost per Vehicle Service Hour FY 2018 FY 2019 FY 2020 FY 2021 Michael Baker International - 16 Triennial Performance Audit of City of Riverside Special Transportation Services — FYs 2019-2021 Graph IV -5 Passengers per Vehicle Service Hour 4.00 3.50 3.00 2 50 2.00 1.50 1.00 0.50 0.00 12.00% 10.0096 8.00% 6.0(7'.6 4.00% 2.00 0.00% FY2018 FY 2019 FY2021 Graph IV -6 Fare Recovery Ratio FY 2018 FY2019 FY 2020 FY 2021 Michael Baker International - 17 Triennial Performance Audit of City of Riverside Special Transportation Services - FYs 2019-2021 Findings from Verification of TDA Performance Indicators It is noted that adverse impacts on transit service from the COVID-19 pandemic and statewide shelter -in -place order are reflected in various performance measure trends described below. The operator's response during this period is contained in the functional review section of this audit. 1. Operating cost per vehicle service hour, an indicator of cost efficiency, increased 226.3 percent from $89.13 in the FY 2018 base year to $290.83 in FY 2021. This trend is consistent with the increase in STS operating costs of 0.8 percent and the 69.1 percent decrease in vehicle service hours during the same period. 2. Operating cost per passenger, an indicator of cost effectiveness, increased 483.9 percent from $26.39 in FY 2018 base year to $154.10 in FY 2021. As noted above, STS operating costs increased 0.8 percent during the period; however, STS ridership decreased 82.7 percent, from 153,559 passengers in FY 2018 to 26,518 passengers in FY 2021. 3. Passengers per vehicle service hour, which measures the effectiveness of the service delivered, decreased 44.1 percent from 3.4 to 1.9 passengers per hour between FY 2018 and FY 2021. The trend in this indicator reflects the 82.7 percent decrease in trips as vehicle service hours exhibited a decrease of 69.1 percent. 4. Passengers per vehicle service mile, another indicator of service effectiveness, decreased 41.8 percent, from 0.25 in FY 2018 to 0.15 in FY 2021. In the same period, vehicle service miles decreased 70.3 percent from 615,113 vehicle service miles to 182,643 vehicle service miles. 5. Vehicle service hours per employee decreased 74.2 percent between FY 2018 and FY 2021. This decrease was associated with the 69.1 percent decrease in STS vehicle service hours, while the number of full-time employee equivalent (FTE) hours increased 20 percent from 40 to 48 FTEs. This measure is based on the number of FTEs reported in the Transit Operators Financial Transactions Report. 6. Farebox recovery exhibited an overall decrease of 84.9 percent between FY 2018 and FY 2021. After a 3.7 percent increase in FY 2019, farebox recovery decreased by 18.6 percent in FY 2020 and 82.1 percent in FY 2021. The average annual decrease in the farebox recovery ratio was 32.3 percent. Total fare revenues decreased 84.7 percent while operating costs increased 0.8 percent. Local support funding was applied primarily during FY 2020, comprising interest revenue. Michael Baker International - 18 Triennial Performance Audit of City of Riverside Special Transportation Services — FYs 2019-2021 Conclusion from the Verification of TDA Performance Indicators The City of Riverside STS performance indicators reflect sharp decreases in ridership, vehicle service hours, and mileage during the triennial period. The primary factor impacting all performance trends is the onset of the COVID-19 pandemic, which started in March 2020 and persisted throughout the audit period. Ridership saw an 8.9 percent decrease in FY 2019 followed by decreases in FY 2020 and FY 2021 of 30.6 and 72.7 percent, respectively. Vehicle service hours and vehicle service miles followed similar trends: vehicle service hours exhibited deceases of 6.4 percent, 26.1 percent, and 55.3 percent in FY 2019, FY 2020, and FY 2021, respectively, while vehicle service miles exhibited decreases of 6.3, 26.5, and 56.9 percent in FY 2019, FY 2020, and FY 2021, respectively. However, STS operating costs grew at an annualized rate of 0.4 percent between the FY 2018 base year and FY 2021 as the City received federal CARES stimulus funds to maintain operations. Total fare revenue decreased significantly over the audit period, by 0.6 percent in FY 2019, 13.7 percent in FY 2020, and 82.2 percent in FY 2021. Michael Baker International - 19 Triennial Performance Audit of City of Riverside Special Transportation Services — FYs 2019-2021 Section V Review of Operator Functions This section provides an in-depth review of various functions in the City of Riverside STS. The review highlights accomplishments, issues, and/or challenges that were determined during the audit period. The following functions were reviewed at the City of Riverside STS office: • Operations • Maintenance • Planning • Marketing • General Administration and Management Within some departments are subfunctions that require review as well, such as Grants Administration that falls under General Administration. Operations Riverside STS offers demand -responsive transit services to senior citizens and ADA-certified individuals daily. STS also operates as a complementary service to the RTA within the Riverside city limits. ADA-certified passengers can make their reservations 24 hours in advance. The non- ADA reservation period is between two and seven days in advance. The audit period saw STS undergo a brand overhaul and enhancements to its service delivery with regard to electronic fare collection, vehicle deployment, and the response to the COVID-19 pandemic. The rebranding campaign resulted in the service taking on a new name: "Riverside Connect." In addition, the City's marketing team developed an eye-catching logo, and new driver uniforms were designed consisting of blue shirts and khaki pants in keeping with the logo color scheme. As a result, STS saw an increase in new passengers, with 169 new passengers using the service in August 2020 alone. Rebranding has enabled STS to distinguish its service from RTA's Dial -A -Ride service. STS operations are located at 8095 Lincoln Avenue within the City of Riverside Corporation Yard. Facilities include an administration building containing offices, a dispatch center, restrooms, and a break room. Adjacent to the administration building is a parking lot for the transit vehicles with each space equipped with a CNG slow -fill station, and a maintenance bay for vehicle repair and servicing. STS has also been moving toward the adoption of an electronic fare collection platform as part of its goal to offer Mobility on Demand services. The initiative involved the implementation of "RM Michael Baker International - 20 Triennial Performance Audit of City of Riverside Special Transportation Services — FYs 2019-2021 Pay," an app made available through RouteMatch. RM Pay allows riders or their designees to add fare funds to a rider account after setting up a user account. This allows payments to be uploaded electronically online, allowing for less dwell time. With RouteMatch's acquisition by Uber, the mobile app was rebranded Amble. After a period of beta testing, STS was anticipating the rollout of Amble by July 1, 2021; however, the system was eventually implemented in January 2022. In addition to the mobile pay function offered through Amble, STS offers customers a second app called "RM Mobility." This allows riders to make reservations for transportation electronically and gives them the ability to track the status of their scheduled reservation and cancel if needed electronically. Prior to COVID-19, STS provided between 400 and 500 rides daily. Most STS trips are generated by local senior programs or workshops conducted by the Friendly Stars program or other services for developmentally disabled adults. The main subscription service is to the Inland Regional Center, which conducts morning workshops for the developmentally disabled. Other subscription services include Easter Seals; Unlimited Quest, an adult day care and independent living facility; and Care Conexxus, which serves Alzheimer's patients. The Inland Regional Center shut down during the COVID-19 pandemic. In FY 2021, no-shows comprised less than 4 percent of the total ridership. The transit supervisor will follow up and counsel repeat offenders. There is a formal no-show policy that conforms to FTA regulations and mirrors that of the RTA. The no-show policy is included in the STS rider brochure. STS defines a no-show as "a passenger's failure to show up or cancel a ride before 6 p.m. the day before a scheduled pick-up. Penalty points will be assessed to the passenger if the passenger does not show." Overall, the number of cancellations and no-shows exhibited downward trends over the audit period, though this trend can be partly attributed to the decline in ridership from the pandemic. Cancellations and no-shows are presented in Table V-1. Table V-1 Cancellations and No -Shows FY 2018 FY 2019 FY 2020 FY 2021 Cancellations 9,007 14,539 10,400 3,559 No -Shows 2,453 3,950 2,937 1,006 Source: RouteMatch; City of Riverside STS STS uses RouteMatch dispatch and scheduling software, which underwent optimization and migration to a Cloud -based platform during the audit period. The operator reports that the software program works well and is compatible with National Transit Database reporting. The driver manifest generated by RouteMatch is configured to account for the proper recording of operating data. STS started using expanded RouteMatch functions, such as a passenger notification module. This feature makes automated calls to passengers to confirm their scheduled pickup one day and one hour in advance. It also allows the passenger to cancel their trip the day before. The automated feature can also dial calls in Spanish. Michael Baker International - 21 Triennial Performance Audit of City of Riverside Special Transportation Services — FYs 2019-2021 Through its global positioning system (GPS) feature, RouteMatch can transmit road and traffic condition data to the drivers. Another feature of the scheduling software is that it does not schedule for more wheelchair trips than the vehicles can accommodate. With growth in wheelchair -bound riders and those using mobility devices, STS actively tracks ridership trends for these types of passengers using RouteMatch, which will help with dispatching and deployment of vehicles. STS utilizes the Q-Straint wheelchair securement system on the vehicles. There is an online training and certification program for the use of Q-Straint. STS also documents those passengers who prefer to remain in their wheelchair instead of transferring to a seat. Vehicle wheelchair lifts were upgraded to a 1,000 -pound capacity rating. The driver manifest generated by RouteMatch contains the driver's name, vehicle number, and duration of the run, and accounts for deadhead time and mileage (including breaks) as well as service time and mileage commencing with the first pickup and ending with the last drop-off. In addition, customer information includes the name, requested pickup time, actual pickup time, origin and destination addresses, and actual drop-off time and odometer readings. There is a 30 - minute window (15 minutes before and after scheduled pickup time) for all reservations to track on -time performance. On -time performance data are entered into TransTrack Manager for trend analysis and data storage. System on -time performance averaged 97.63 percent over the audit period and exhibited improvement during the COVID-19 pandemic. STS's on -time performance for the audit period is summarized in Table V-2. Table V-2 On -Time Performance Summary FY 2018 FY 2019 FY 2020 FY 2021 Late Trips 4,199 3,866 2,357 230 Total Trips 128,895 119,019 81,416 23,964 Percent of Trips On -time 96.74% 96.75% 97.10% 99.04% Source: RouteMatch; City of Riverside STS STS employs Samsung mobile data tablets in its vehicles. In addition, STS improved the safety features on its vehicles by increasing the number of interior cameras from one to four. The cameras have been useful for investigating complaints and driver training. They also can obscure the faces of passengers on board the vehicle. In addition to the RouteMatch optimization, TransTrack Manager was upgraded during the audit period. The upgrades included the tracking of customer service feedback and road calls as well as more efficient National Transit Database reporting. STS is also able to track DMV pull notices through TransTrack. The City continues to review TransTrack capabilities and mine available data modules through upgrades pertinent to functional areas of operations. For example, staff has interest in upgrading the preventative maintenance module of the software to enhance tracking and reporting of transit maintenance activities separately from the program used by the maintenance department that applies to all City -owned vehicles. Michael Baker International - 22 Triennial Performance Audit of City of Riverside Special Transportation Services — FYs 2019-2021 Farebox collection and reconciliation procedures involve a combination of manual and automated methods. STS vehicles are not equipped with fareboxes. The manifest details how much the drivers are supposed to collect from the passenger. Fares are paid in cash or by check and placed into a pouch. A daily reconciliation is performed using the RouteMatch manifests. Each morning, two administrative staff count the fare revenue from the previous day, a process taking approximately two hours. Another staff person takes the fare receipts and makes the deposit. The whole process is overseen by the transit supervisor. COVID-19 Pandemic Impacts As impacts from the novel coronavirus started to be realized in California, a state of emergency was declared on March 4, 2020. Subsequently, a mandatory statewide shelter -in -place order was implemented on March 19. In response, the City implemented measures and protocols to mitigate the spread of the virus. STS was one of the first operators in the region to adopt face - masking protocols. Ionizers were used to sterilize vehicles and office space. The City mandated that all non -essential part-time employees be furloughed. Full-time employees were retained, and staff rotations were implemented in a two weeks on/two weeks off schedule. Social distancing and capacity limits were implemented on the vehicles and in the office. Drivers were assigned the same vehicle in order to reduce virus transmission. There were no service changes; however, earlier runs were added to accommodate senior retail hours and same -day rides were offered. In an effort to ensure the health and welfare of the senior and disabled population during the pandemic, STS began offering free rides for testing and vaccinations for participants of the program. These necessary activities in response to the rapidly evolving COVID-19 pandemic condition resulted in severe impacts on performance trends which were pervasive throughout the transit industry during the fourth quarter of FY 2020 and most of FY 2021. Nevertheless, the policies and protocols adopted by the City helped to control the spread of COVID-19. Personnel Over the audit period, STS restructured the organizational chart through the introduction of two addition supervisory positions. The new structure includes a field supervisor, operations supervisor, and management analyst, each reporting to the transit manager. A total of 33 full- time drivers and 4.25 part-time drivers report to field supervisor. A full-time lead dispatcher/scheduler with five full-time dispatcher/schedulers report to the operations supervisor. A full-time office specialist reports to the management analyst. Part-time drivers were generally assigned weekend trips. Routes are bid out based on driver seniority, with drivers selecting the same route about 70 to 80 percent of the time. Driver shifts are assigned based on service demand. Nonexempt personnel are represented by the Service Employees International Union (SEIU), Local 721. In January 2021, City Council formally approved the most recent MOU between the City and the SEIU, which had a one-year term from July 1, Michael Baker International - 23 Triennial Performance Audit of City of Riverside Special Transportation Services — FYs 2019-2021 2020, to June 30, 2021. The City and the SEIU enjoy a good working relationship. There are two shop stewards at STS. Operators select routes and timeslots through a bidding process dictated by the MOU. Driver recruitment has been challenging, resulting in driver shortages. Personnel separations have been attributed to retirements and staff leaving for agencies that offer higher pay and compensation. STS staff indicated that median pay is below average. A classification and compensation study is being undertaken by the City. One of the operations supervisors is also a driver and trainer. STS conducts training bimonthly with a focus on wheelchair lift operations, sensitivity training, defensive driving, and vehicle inspection training. In addition to possessing a Class B license, driver candidates undergo four hours of orientation on the first day, two weeks (20 hours per week) of classroom and behind - the -wheel training, Vehicle for Developmentally Disabled Persons certification, and live scan fingerprinting. School Pupil Activity Bus certification training is also available, which involves a written and behind -the -wheel test. The bimonthly safety meetings have been revamped with refreshed content. STS has brought in presenters and topics have covered railroad crossings, team building, sensitivity training, and defensive driving. Wheelchair securement training is conducted every two years. Transit management has indicated preference for an elevated training regimen for wheelchair securement, including having drivers serve as passengers during wheelchair securement training. This role-playing will help drivers further understand the challenges with wheelchair securement from both the passenger and driver perspectives. The City's safety officer has also been invited to give presentations on senior health awareness. The vehicle incidence review board reviews accidents and offers retraining. Accruals for vacation and sick time vary according to the length of service and employment classification. Employees with up through 5 years of continuous service accrue 80 hours of annual vacation time; 120 hours for 6 to 10 years of service; and 160 hours for 11 or more years of service. The City has a two-year maximum vacation hour accumulation policy. Employees accrue 4 hours of sick leave per month. In addition, the City contributes toward employees' retirement through CaIPERS based on three tiers, depending on date of hire, which define the various retirement levels for the member's retirement formula, final compensation calculation, and employee contribution/cost sharing. Employee appreciation efforts have included the distribution of thank you packages containing swag. Maintenance Vehicle maintenance is performed at the Corporation Yard adjacent to STS's administrative offices. Mechanics from City Fleet Services assigned to STS vehicles are Automotive Service Excellence certified and have undergone CNG tank inspection training. STS vehicles are serviced in a state-of-the-art maintenance facility by a dedicated mechanic assigned to STS. The facility comprises five service bays, a CNG ventilation system, brake shop, an administrative office, and Michael Baker International - 24 Triennial Performance Audit of City of Riverside Special Transportation Services — FYs 2019-2021 parts storage room. This dedicated facility has resulted in improved maintenance efficiencies. Facility service hours are from 2:30 p.m. until 11:00 p.m. In addition, there are 36 slow -fill CNG pumps, which allow for every vehicle to be fueled overnight. The station supports both 3,000 PSI (earlier vehicles) and 3,600 PSI pressures. The maintenance bay has experienced multiple issues with the CNG detection system. The issues have caused multiple false alarms, resulting in emergency responses from the Riverside Police Department and other City agencies throughout all hours of the day and night. Additional costs have been incurred in the attempts to repair the current detection system. Preventive maintenance schedules are managed electronically through the AssetWorks FleetFocus M5 software program. This system is fully integrated and encompasses asset tracking, work orders, workflow, preventive maintenance inspections (PMI) scheduling, billing, and inventory management. PMIs are set up in the M5 system and scheduled according to time, mileage, usage, or a combination of each. Usage is gathered either at fueling times, which are tracked in the M5 Fleet System, through an updated vehicle work order entry, or from manual updates as needed. PMIs are performed every 3,000 miles. Fleet Services can transmit alerts on upcoming PMIs, allowing for a 100 percent schedule adherence rate. Vehicle parts are managed and tracked by the FleetFocus M5 software. Stock part purchases such as brakes, filters, and tires are procured through competitive bidding. Annual purchase orders are approved by the City Council, and then awarded by the Purchasing Division. State contract pricing is also utilized for items such as automotive and pickup tires. Other non -stock parts are either competitively bid on an as -needed basis through the Purchasing Division or quoted through vendors with whom the City already has annual purchase orders. Road calls are recorded when a tow truck and/or mechanic responds to a mechanical/service problem for a disabled transit vehicle that is in revenue service. Overall, the number of road calls decreased from the FY 2018 base year due to the procurement of newer vehicles and fewer trips during the COVID-19 pandemic. A summary of road calls is presented in Table V-3. Table V-3 STS Road Call Summary FY 2018 FY 2019 FY 2020 FY 2021 Road Calls 29 12 12 17 Source: City of Riverside STS The CHP is responsible for certifying the maintenance facilities and for inspecting vehicles on an annual basis. STS vehicles have received satisfactory terminal inspections from the CHP. The latest vehicle in the STS fleet is a 2019 model. STS has been looking at the procurement of additional smaller profile vehicles such as the Ford Transit vans, which are configured to accommodate two wheelchairs. In addition, STS recently procured its first 16 -passenger electric - Michael Baker International - 25 Triennial Performance Audit of City of Riverside Special Transportation Services — FYs 2019-2021 powered vehicle manufactured by Diamond. Training on the new electric vehicle will be provided. Planning The City of Riverside STS prepares an SRTP on an annual basis. The SRTP covers a three-year planning horizon and includes a system overview, performance analysis, service changes, and financial and capital plans. Under the services and performance chapter, a series of recommendations for service improvement is presented for the transit service. Performance data from TransTrack Manager is also included in the SRTP to provide an annual comparison. In adhering to the SRTP analysis element, STS must meet at least four out of seven discretionary performance indicators. There is one mandatory indicator: the farebox recovery ratio set at 10 percent. Using the SRTP covering FY 2020-2021 through FY 2022-2023, Table V-4 summarizes the FY 2019-2020 performance targets for STS. STS met five of the seven performance indicator targets and the mandatory farebox recovery ratio. The two targets that STS failed to meet were Subsidy Per Passenger Mile and Passengers Per Revenue Hour. Table V-4 STS Performance Targets Performance Indicators FY 2019-20 Target Actual Performance Met Target Farebox Recovery >=10.00% 11.03% Yes Operating Cost Per Revenue Hour <=$88.26 $70.04 Yes Subsidy Per Passenger >=$19.72 & <=$26.68 $23.95 Yes Subsidy Per Passenger Mile >=$3.79 & <=$5.13 $5.94 Failed to Meet Target Subsidy Per Hour >=$64.67 & <=$87.49 $62.31 Yes, exceeded Target Subsidy Per Mile >=$4.78 & <=$6.46 $5.94 Yes Passengers Per Revenue Hour >=2.81 & <=3.80 2.60 Failed to Meet Target Passengers Per Revenue Mile >=0.20 & <=0.28 0.25 Yes Source: City of Riverside STS, TransTrack Manager STS has expressed interest in developing a strategic plan. Given the changes in the transit funding landscape and challenges in recruitment and marketing that pose potential impediments to growth and sustainability, STS would benefit from a strategic planning process that can provide guidance and momentum. As described in the prior performance audit section, staff determined that in order to conduct a thorough strategic plan which addresses all areas of concern, the City would hire a consultant to complete a COA. The RCTC also has alluded to the possibility of hiring a consultant to conduct COAs for transit agencies in its jurisdiction. Marketing In July 2021, STS Marketing Department staff launched a major initiative to rebrand "Specialized Transportation" as "Riverside Connect." The rebranding efforts included a redesigned logo, a revised website, new bus wraps on all vehicles, new driver uniforms, and new print and media Michael Baker International - 26 Triennial Performance Audit of City of Riverside Special Transportation Services — FYs 2019-2021 advertisements. These efforts were made possible through assistance from the City's Marketing Division and Riverside TV. The new branding is intended to raise the visibility of the service within the community; STS staff plans to capitalize on the new attention resulting from the rebranding and focus future marketing efforts on attracting key demographics, including disabled veterans and new seniors. The rebranding effort bore immediate results with an increase in new passengers and greater social media exposure. STS has used several marketing strategies to promote its transportation services such as brochures, newspaper advertisements, community events, speakers' bureaus, and electronic media. The STS brochure is a bilingual trifold publication that provides service overview, hours of operation, fares and rider etiquette, and policy information. Brochures are distributed primarily at local senior centers. Other printed collateral includes a brochure in Braille for the sight - impaired, a one -page flyer, placement of ads on the prescription bags at Ralph's Pharmacy, and advertisements in the Parks and Recreation Activity Guide and Senior Guide. The Activity Guide is published three times annually and is mailed to over 55,000 residents as well as being available online at the City's website. The service is also advertised on the rear of the vehicles. STS has started utilizing magnetic ribbons affixed to vehicles to highlight veteran, Alzheimer's, and other causes, which have received positive feedback from the community. Electronic marketing approaches have included the City of Riverside website (https://www.riversideca.gov/park_rec/programs-sports/seniors/special-transportation- division), public access cable Channel 3, and announcements on an electronic billboard located near the SR 91 and 14th Street interchange. Further outreach has consisted of presentations at senior centers and during quarterly transit operators meetings with RCTC. Social media outreach is conducted through the marketing division of the Parks, Recreation and Community Services Department. The department coordinates structured postings on Facebook and Twitter. Passenger surveys are conducted annually. As was previously mentioned, STS added 169 new passengers in August 2020 with the increased social media exposure. Pursuant to the federal Civil Rights Act of 1964, a Title VI Program was developed and adopted by the City. Title VI of the Civil Rights Act of 1964 requires that no person in the United States, on the grounds of race, color, or national origin, be excluded from, be denied the benefits of, or be subjected to discrimination under any program or activity receiving federal financial assistance. Program compliance includes a link to the Title VI policy on the STS web page directed to the General Services page along with a complaint form in English and Spanish. General Administration and Management The City of Riverside was incorporated in 1883 and has a council-manager form of government. The Riverside City Charter sets forth the number of elected officials for the city and their method of election. The mayor is elected at -large by voters of the entire city while the members of the City Council are voted into office by electors in each of the city's seven wards. Regular elections for members of the City Council occur in June of odd -numbered years. The mayoral election is held in June of US presidential election years. The Council serves as the principal legislative body Michael Baker International - 27 Triennial Performance Audit of City of Riverside Special Transportation Services — FYs 2019-2021 and each councilmember is elected for a four-year term. Except for the months of July, August, and September, the regular meetings of the mayor and City Council are convened on the first, second, third, and fourth Tuesdays of each month at 2:00 p.m. During the months of July, August and September, the regular meetings are held on the second and fourth Tuesdays at 2:00 p.m. The City manager is responsible for administrative and budgetary oversight of City departments. STS is overseen by the director of Parks, Recreation and Community Services. The director is assisted administratively by the deputy director and the community services superintendent. Occurring after the audit period, the director retired from the City and was replaced by a new director in October 2021. The new director has a transit and parks planning background, having worked for the City of Anaheim and the Orange County Transportation Authority. Transit operations are administered by a transit manager and two special transportation operations supervisors. Administrative support personnel are composed of a management analyst and an office specialist. The current transit manager joined STS in August 2015 and is tasked with transportation and grants management and interaction with the RCTC. The transit manager develops a dashboard of performance statistics to better evaluate the transit service. The operations supervisors attend to staff performance, vehicle operations, and maintenance. The primary source of transit funding support is derived from the Local Transportation Fund (LTF). Based on audited financial data, total LTF revenues received during the audit period were $3,645,130 in FY 2019; $3,319,442 in FY 2020; and $1,081,008 in FY 2021 (carried over from FY 2020). State Transportation Assistance (STA) funds received by the City were $24,000 in FY 2019 and $160,881 in FY 2020 applied toward capital. Cost allocation involves a two-step process based on the City's General Fund and personnel costs at the departmental level. The City submits the annual TDA claim for funds to the RCTC. TDA claims are based on the City's annual budget for STS and the financial element of the SRTP. Reserve allocations for LTF and STA funds are included as separate line items on the claim form. STA funds are utilized toward vehicle replacement, fueling infrastructure, and office equipment. The City Finance director and staff are responsible for the completion and submittal of the Transit Operators Financial Transactions Report to the State Controller. The City's most recent FTA triennial review took place on March 27 and 28, 2018, with the final report being released on May 25, 2018. The triennial review focused on the City's compliance in 20 areas. No deficiencies were found with FTA requirements in 19 areas. The one area where the City was found to be deficient was in technical capacity and award management. This finding was prompted by late submittals of the City's Federal Financial Reports and Milestone Progress Reports in the Transit Award Management System (TrAMS). The City had until October 30, 2018, to submit to the FTA regional office procedures for submitting future reports on time. In response to the triennial review finding, the City created a protocol of office procedures that ensure the timely submittal of financial and milestone reports in TrAMS. As of this audit, the City is currently undergoing its latest FTA triennial review and anticipates that it would serve as the basis for a potential strategic planning process and COA. Michael Baker International - 28 Triennial Performance Audit of City of Riverside Special Transportation Services — FYs 2019-2021 Grants Management Grant funding allocated toward STS has been derived from state and federal sources. The City maintains an annual project summary report listing the grants being managed in a general ledger format. The grants tracked are derived from STA, Proposition 1B (capital and security), and FTA Sections 5307 and 5339 (formula and discretionary). The summary report shows the allocation of funds by source, amount spent during the quarter, amount spent to date, and the remaining balance. The grant allocation year, project grant number, and project name are listed along the left-hand margin. FTA grants have been awarded for operating and capital assistance. FTA Section 5307 grant funds (combined with 20 percent STA match) have been spent on preventative maintenance, vehicle replacement, CNG slow -fill stations communications, and office equipment. The City has also received FTA Section 5339 for vehicle replacement. STS purchased two Ford Transit 9 - passenger transit vans. These vehicles are smaller than the standard Glaval 16 -passenger buses that comprise most of the fleet, allowing for safer access to areas around the City that are too narrow or congested for the standard buses to access. The City has continued to receive funding through the State Proposition 1B Public Transportation Modernization, Improvement & Service Enhancement Account (PTMISEA) program, which has been extended through FY 2022. Another component of the Proposition 1B program is the Transit System Safety, Security & Disaster Response Account (TSSSDRA) administered by the Governor's Office of Emergency Services. TSSSDRA funds awarded to the City have been utilized toward the installation of an electronic access control system for all interior and exterior doors in the STS administrative office. At the end of June 30, 2021, the City had an unexpended balance of $452,447 in PTMISEA funds and $130,656 in TSSSDRA funds. Michael Baker International - 29 Triennial Performance Audit of City of Riverside Special Transportation Services — FYs 2019-2021 Section VI Statement of Facts The following summarizes factual events and trends obtained from this triennial audit covering fiscal years 2019 through 2021. A set of recommendations is then provided. 1. Of the compliance requirements pertaining to the City, the operator fully complied with seven out of the nine applicable requirements. The City was in partial compliance with regard to the timely completion and submittal of its annual fiscal and compliance audits and farebox recovery attainment. Two additional compliance requirements did not apply to the operator (intermediate and urban farebox recovery ratios). 2. Based on the farebox calculation in the annual Transit Services Fund Financial Statements (audited), Riverside's farebox recovery ratio met or exceeded the required minimum standard of 10 percent in one of the three audit years. The system -wide farebox recovery ratios were 11.33 percent in FY 2019, 9.23 percent in FY 2020, and 1.65 percent in FY 2021.2 It is noted that the audited farebox ratios in FY 2020 and FY 2021 were adversely impacted from the COVID-19 pandemic and state shelter -in -place order as well as the suspension of fare collection. 3. The City participates in the CHP Transit Operator Compliance Program in which the CHP conducted inspections within the 13 months prior to each TDA claim. The CHP inspection reports submitted for review were found to be satisfactory. 4. Annual operating budget fluctuations remained below 15 percent during the audit period. The budget decreased 7.0 percent in FY 2019 followed by increases of 4.5 percent in FY 2020 and 9.7 percent in FY 2021. Operating budget increases are attributed to salaries and benefits, contract services, and non -personnel costs. 5. Riverside satisfactorily implemented one of the two prior audit recommendations. The recommendation pertained to targeted marketing efforts and rebranding. The second recommendation, which concerned a strategic planning process, was not implemented and is being carried forward for full implementation. 6. Operating cost per vehicle service hour, an indicator of cost efficiency, increased 226.3 percent from $89.13 in the FY 2018 base year to $290.83 in FY 2021. This trend is consistent with the increase in STS operating costs of 0.8 percent and the 69.1 percent decrease in vehicle service hours during the same period. 2 Assembly Bill 90, passed into law and signed by the governor in June 2020 in response to the COVID-19 pandemic impacts, prohibits the imposition of penalties on a transit operator that does not maintain the required ratio of fare revenues to operating cost during the FY 2019-20 or FY 2020-21. Michael Baker International - 30 Triennial Performance Audit of City of Riverside Special Transportation Services — FYs 2019-2021 7. Operating cost per passenger, an indicator of cost effectiveness, increased 483.9 percent from $26.39 in FY 2018 base year to $154.10 in FY 2021. As noted above, STS operating costs increased 0.8 percent during the period; however, STS ridership decreased 82.7 percent, from 153,559 passengers in FY 2018 to 26,518 passengers in FY 2021. 8. Passengers per vehicle service hour, which measures the effectiveness of the service delivered, decreased 44.1 percent from 3.4 to 1.9 passengers per hour between FY 2018 and FY 2021. The trend in this indicator reflects the 82.7 percent decrease in trips as vehicle service hours exhibited a decrease of 69.1 percent. 9. Passengers per vehicle service mile, another indicator of service effectiveness, decreased 41.8 percent, from 0.25 in FY 2018 to 0.15 in FY 2021. In the same period, vehicle service miles decreased 70.3 percent from 615,113 vehicle service miles to 182,643 vehicle service miles. 10. A successful rebranding campaign resulted in the service taking on a new name: "Riverside Connect." In addition, the City's marketing team developed an eye-catching logo, and new driver uniforms were designed consisting of blue shirts and khaki pants in keeping with the logo color scheme. As a result, STS saw an increase in new passengers with 169 new passengers using the service in August 2020 alone. 11. STS has also been moving toward the adoption of an electronic fare collection platform as part of its goal to offer Mobility on Demand services. The initiative involved the implementation of the Amble app made available through RouteMatch. After a period of beta testing, STS was anticipating the rollout of Amble by July 1, 2001; however, the system was eventually implemented in January 2022. 12. In addition to the RouteMatch optimization, TransTrack Manager was upgraded during the audit period. The upgrades included the tracking of customer service feedback and road calls as well as more efficient National Transit Database reporting. STS is also able to track DMV pull notices through TransTrack. 13. STS implemented measures and protocols to mitigate the spread of COVID-19. STS was one of the first operators in the region to adopt face -masking protocols. Ionizers were used to sterilize vehicles and office space. Social distancing and capacity limits were implemented on the vehicles and in the office. Drivers were assigned the same vehicle in order to reduce virus transmission. 14. Transit operations are administered by a transit manager and two special transportation operations supervisors. Administrative support personnel are composed of a management analyst and an office specialist. The transit manager develops a dashboard of performance statistics to better evaluate the transit service. The operations supervisors attend to staff performance, vehicle operations, and maintenance. Michael Baker International - 31 Triennial Performance Audit of City of Riverside Special Transportation Services — FYs 2019-2021 Recommendations 1. Continue efforts toward implementing a strategic planning process. This recommendation is being carried forward for full implementation. In consideration of this recommendation, staff determined that in order to create a strategic plan that addresses all areas of concern, a thorough analysis of the operation would be necessary. As a result, it was decided that the City would hire a consultant to complete a Comprehensive Operational Analysis (COA). The City released an RFP for a COA to be conducted but only received one proposal which was ultimately rejected given the timing of the FTA Triennial Review. In anticipation of the FTA Triennial Review findings under development, STS is encouraged to resume efforts at facilitating a strategic planning process, whether it's through a COA or some other document, and/or coordinating with the RCTC on the procurement of professional services. 2. Continue leveraging TransTrack reporting capabilities. STS staff continue to review TransTrack capabilities and mine available data modules through upgrades pertinent to functional areas of operations. For example, staff has interest in pursuing upgrades to the preventative maintenance module of the software to enhance tracking and reporting of transit maintenance activities separately from the program used by the maintenance department that applies to all City -owned vehicles. The rebranding efforts require collection of data that impact daily operations as part of maintaining a high level of public visibility, followed by keen interpretation of results and implementation steps to maintain and improve upon service. Staff should prioritize those existing and new capabilities in TransTrack that provide meaningful data necessary for transit performance management and business analytics. 3. Enhance aspects of ongoing driver training. STS is proactive in providing the required active training to its drivers. One training aspect that evolves from advancement in mobility and technology is wheelchair securement. The number of riders who use mobility devices is growing and this group is an integral part of the City's transit program. Transit management has indicated a preference for an elevated training regimen for wheelchair securement, including having drivers serve as passengers during wheelchair securement training. This role playing will help drivers further understand the challenges with wheelchair securement from both the passenger and driver perspectives, in particular increasing empathy when securing these riders and their mobility devices, which could vary substantially in model, type (e.g., wheelchair scooters), and weight. Michael Baker International - 32 ATTACHMENT 6 RIVERSIDE COUNTY TRANSPORTATION COMMISSION Triennial Performance Audit of Riverside Transit Agency ItMt Riverside Transit Agency September 2022 FY 2019-2021 Submitted to: Riverside County Transportation Commission Submitted by: Michael Baker INTERNATIONAL TABLE OF CONTENTS Section I 1 Introduction 1 Overview of the Transit System 1 Section II 12 Operator Compliance Requirements 12 Section III 18 Prior Triennial Performance Audit Recommendations 18 Section IV 20 TDA Performance Indicators 20 Section V 32 Review of Operator Functions 32 Operations/Contract Operations 32 Maintenance 39 Administration and Management 44 Planning 49 Marketing 50 Human Resources and Risk Management 52 Procurement 55 Information Technology 56 Section VI 58 Statement of Facts 58 Recommendations 60 List of Figures, Tables & Graphs Figure 1-1 Organization Chart 2 Table 1-1 4 RTA Route Summary 4 Table 1-2 8 Fare Structure 8 Table 1-3 10 Vehicle Fleet 10 Table 11-1 12 Operator Compliance Requirements Matrix 12 Table IV -1 21 TDA Performance Indicators System -wide 21 Table IV -2 22 TDA Performance Indicators Fixed Route, Directly Operated 22 Table IV -3 23 TDA Performance Indicators Fixed Route, Contracted 23 Table IV -4 24 TDA Performance Indicators General Public Service 24 Table IV -5 25 TDA Performance Indicators Dial -A -Ride Demand Response Service 25 Graph IV -1 26 Operating Costs System -wide, General Public, and Demand Response 26 Graph IV -2 26 Ridership System -wide, General Public, and Demand Response 26 Graph IV -3 27 Operating Cost per Passenger System -wide, General Public, and Demand Response 27 Graph IV -4 27 Operating Cost per Veh Service Hour System -wide, General Public, and Demand Response27 Graph IV -5 28 Passengers per Vehicle Service Hour System -wide, General Public, and Demand Response 28 Graph IV -6 28 Fare Recovery Ratio System -wide, General Public, and Demand Response 28 Table V-1 35 Vehicle Operations Performance Indicators Directly Operated Fixed Route 35 Table V-2 37 Vehicle Operations Performance Indicators Contracted Fixed Route 37 Table V-3 38 Vehicle Operations Performance Indicators Dial -A -Ride Demand Response 38 Table V-4 42 Maintenance Performance Indicators Directly Operated Fixed Route 42 Table V-5 43 Maintenance Performance Indicators Contracted Fixed Route 43 Table V-6 44 Maintenance Performance Indicators Demand Response 44 Table V-7 47 Administration Performance Indicators Directly Operated Fixed Route 47 Table V-8 48 Administration Performance Indicators Contracted Fixed Route 48 Table V-9 48 Administration Performance Indicators Demand Response 48 Table V-10 52 Customer Complaints 52 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 Section 1 Introduction The Riverside County Transportation Commission (RCTC) engaged the Michael Baker International consultant team to conduct the Tra nsportation Development Act (TDA) triennial performance audit of the public transit operators under its jurisdiction. This performance audit is conducted for Riverside Transit Agency (RTA, Agency) covering the most recent triennial period, fiscal years (FYs) 2018-2019 through 2020-2021. The purpose of the performance audit is to evaluate RTA's effectiveness and efficiency in its use of TDA funds to provide public transit in its service area. This evaluation is required as a condition for continued receipt of these funds for public transportation purposes. In addition, the audit evaluates RTA's compliance with the conditions specified in the California Public Utilities Code (PUC). This task involves ascertaining whether RTA is meeting the PUC's reporting requirements and is endeavoring to implement prior audit recommendations made to the Agency. Moreover, the audit includes calculations of transit service performance indicators and a detailed review of the Agency's departments and organizational functioning. From the analysis that has been undertaken, a single recommendation has been made for the Agency which is intended to improve the performance of transit operations. This TDA audit is intended to provide RTA with an independent, constructive, and objective evaluation of the organization and its operations. The methodology for the audit included interviews conducted via videoconference platform with transit management, collection and review of agency documents, data evaluation and remote observation.' The Performance Audit Guidebook for Transit Operators and Regional Transportation Planning Entities published by the California Department of Transportation (Caltrans) was used to guide in the development and conduct of the audit. Overview of the Transit System RTA is the largest transit operator within Riverside County and has one of the largest service areas in the United States. The Agency was established as a Joint Powers Agency on August 15, 1975, and began operating bus service on March 16, 1977. RTA is the Consolidated Transportation Service Agency (CTSA) for western Riverside County and is responsible for coordinating transit services throughout the approximate 2,500 -square -mile service area, including providing driver training, assisting with grant applications, and developing short-range transit plans. In FY 2021, RTA provided both local and regional services throughout the region with 36 regional, local, rural and trolley service routes, 3 CommuterLink Express routes, and Dial -A -Ride (DAR) services. In the Cities of Corona, Beaumont, and Banning, RTA coordinates regional services with municipal transit systems. In the City of Riverside, RTA coordinates with the Riverside Special Transportation Services, which provides Americans with Disabilities Act (ADA) complementary service to RTA's fixed - route services. 1 For this engagement, videoconferencing was employed in lieu of on -site visitation as part of this audit's methodology. Michael Baker International -1 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 RTA is governed by a board of directors comprising 22 elected officials, 18 representing cities in western Riverside County and four members of the County Board of Supervisors. The member jurisdictions include the Cities of Banning, Beaumont, Calimesa, Canyon Lake, Corona, Eastvale, Hemet, Jurupa Valley, Lake Elsinore, Moreno Valley, Menifee, Murrieta, Norco, Perris, Riverside, San Jacinto, Temecula, Wildomar, and the unincorporated areas of Riverside County Supervisorial Districts 1, 11, III, and V. The RTA Chief Executive Officer reports directly to the Board. RTA is managed and administered by the Chief Executive Officer with support from the entire executive team. RTA's primary facility is located in the City of Riverside and houses the majority of the administration, operations, and maintenance departments with approximately 341 active employees on -site. RTA's secondary facility, located in Hemet, opened in June 2000. It now has approximately 83 maintenance, administrative, and operations employees assigned to the division. Figure 1-1 shows the RTA organization chart. Figure 1-1 Organization Chart =R . Rive side Transit Agency Board of Directors Creel Executive Officer Chief Operations Officer Director of Operations SMveaance SPlteiafsl Operations Manager Operation Supervisors (19) Bargaining Unit Coach Operators Contract Operations Manager Assisting Contract Operations Manager Contract Dowelled. Speciafins (3) Operations Analyst Training Manager Stop & Zones Supervisor Bargaining Unit S&Z stoniness Transit Clerk ked0rof Naming Grams Plannng Analyst Scheduling Analysts (2) Arecterer Meellemnse Clete/dm BoaNAdMn. sneaafiu Fleet Analyst Matt ono e Manager Mantenatoe Supervisors (10) Bargaining Unit Mechanics Body Mechanics Servicer Tire Servicer Electronic Technician Sr. Facilities/ Cando n Project Manager Facdrties Super Bargaining Unit Property Mairdalner CAMAdmvi9rarire Services OrficafEEO Ofirt•dcmil MOM Meer HR Manager Be. Admn.elretr Human Resources Gammons, nkeaa. Aem mstramae Assistant Human Re Clerk MM.RIM a7 netteaealm* Risk Manager Manadenent Specialist Transit Safety & Secumy Manager Surveillance Clerk ORGANIZATIONAL STRUCTURE FY 2022 Chief Marketing Media 8 Public Relations Manager — Cotmnunity Re) Cooed Marketing Coordinator Customer info. Supervisor 1 Customer Info. Clerk. Sr. Lead Customer nfo. Clerk (15) Chief Procurement & Logistic Officer/ DBE Liaison Officer olrectorof Contracts Serve Contracts Aaeuvvtrae Ammtimaeer Buyer Storeroom Supervisor Pala Unit Unit Pala Clarke Chief Chief Technology Financial Officer Officer SYslerns fTS Controller Grant Financial Amalyst Currency Processor (2) -� Accountant AP Clem Revenue Clark Payroll Administrator Updated December 31, 2021 Source: RTA Michael Baker International - 2 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 Transit Services RTA has both directly operated services and contracted services. Southland Transit is a private transportation company that provides RTA's DAR service. A supplemental taxi service was used prior to the pandemic and played an important role in accommodating unproductive paratransit trips, such as trips during peak period with capacity constraints or trips to remote areas. Empire Transportation, which began providing fixed -route service in FY 2012, was the fixed -route contractor for the entirety of the current audit period. The hours of operations are based on the route classification and service area. The overall span of services is from 3:50 a.m. to 11:55 p.m. The DAR service span mirrors the hours of fixed -route service, excluding the CommuterLink Express service. Transit Centers: RTA has two primary transit centers to support its bus network: the Corona Transit Center and the Perris Station Transit Center. RTA's major transfer points include the Galleria at Tyler Mall, La Sierra Metrolink Station, Moreno Valley Mall, and Riverside Downtown Metrolink Station. Other key transfer points throughout the system include University of California, Riverside (UCR), Riverside University Health System Medical Center, Moreno Valley College, Hemet Valley Mall, Mt. San Jacinto College, Lake Elsinore Outlet Center, Temecula Promenade Mall, and the County Administration Building. New mobility hubs are located at the Temecula Promenade Mall to provide increased transit access to the Cities of Temecula and Murrieta, and the Vine Street Layover next to the Riverside Downtown Metrolink Station. RTA provides connections to Metrolink stations located within the RTA service area, including stations serving the relatively new Metrolink Perris Valley Line. These stations include North Main Corona, Riverside -La Sierra, Pedley, Riverside -Downtown, Hunter Park/UCR, Moreno Valley/March Field, Perris, and South Perris. An overview of each service follows. Regional and Local Fixed Routes: Regional routes comprise the backbone of the bus network between metropolitan areas along primary corridors (including freeways). Local routes supplement regional routes by circulating through various neighborhoods and serving secondary corridors. Local routes also serve as feeders to regional and express routes by transporting customers within a community on shorter trips. All 36 routes operate Monday through Friday with many routes operating on the weekends. CommuterLink Express Routes: These regional express routes provide limited -stop service designed to primarily transport commuters to and from employment sites and provide connectivity to transit operations heading outside of western Riverside County, such as Metrolink. These buses use the freeway system to provide faster service. CommuterLink routes provide service for long-distance commuters traveling to Metrolink, Coaster, and Sprinter rail stations; business parks; shopping malls; and regional transit facilities. Service operates on weekdays only. Table 1-1 provides a summary of local, regional, and CommuterLink routes: Michael Baker International - 3 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 Table 1-1 RTA Route Summary Route Number Destinations Service Days/Frequency (minutes) Weekday Saturday Sunday 1 UCR, Downtown Riverside, Riverside - Downtown Metrolink Station, Smith & 6tn W. Corona Metrolink 15-20 15-20 15-20 3 Eastvale, Norco, Corona Transit Center 120 120 120 8 Lake Elsinore, Wildomar 60-75 60-75 60-75 9 Perris Station Transit Center, Lake Elsinore Outlet Center 70-100 70-100 70-100 10 Big Springs & Watkins, Downtown Riverside, Galleria at Tyler 90 90 90 11 Moreno Valley Mall, March ARB, Alessandro & Frederick 60 60 60 12 La Cadena & Interchange, Downtown Riverside, Corona Hills Plaza 60 60 60 13 Hunter Park/UCR Metrolink Station, Downtown Riverside, Galleria at Tyler - Riverside 60 60 60 14 Galleria at Tyler, Downtown Riverside, Loma Linda VA Hospital 60 60 60 15 Riverside -Downtown Metrolink Station, Downtown Riverside, Merced & Magnolia 40 40 40 16 UCR, Moreno Valley Mall 15-30 15-30 15-30 18 Sunnymead Ranch, Moreno Valley Mall 50 50 50 19 Moreno Valley Mall, Perris Station Transit Center — Trumble Road 15-60 15-60 15-60 20 Magnolia & Elizabeth, Social Security Office, Moreno Valley/March Field Metrolink Station, RUMC, Kaiser Permanente, Moreno Valley College 60 60 60 21 Galleria at Tyler, Country Village/Fontana 70 70 70 22 Downtown Riverside, Perris Station Transit Center 30-60 30-60 30-60 23 Temecula, Murrieta, Wildomar 60-70 60-70 60-70 24 Promenade Mall, Temecula, Pechanga Resort 75 75 75 27 Galleria at Tyler, Perris Station Transit Center 50-60 50-60 50-60 28 Perris Station, Hemet, Lincoln & Florida 30-45 30-45 30-45 29 Riverside -Downtown Metrolink Station, Downtown Riverside, Eastvale, via Jurupa Valley 60-70 60-70 60-70 30 Perris Station Transit Center, May Ranch 90 90 90 31 Moreno Valley Mall, Beaumont, Banning, San Jacinto, Hemet Valley Mall 60-70 60-70 60-70 32 Hemet Valley Mall, Mt. San Jacinto College - San Jacinto 70-75 70-75 70-75 Michael Baker International - 4 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 Route Number Destinations Service Days/Frequency (minutes) Weekday Saturday Sunday 33 Hemet Valley Mall -Sanderson, Thorton- Standford & Stetson 120 120 120 41 Mead Valley Comm. Center, Moreno Valley College, RUMC 110 110 110 42 Hemet Valley Mall, San Jacinto, Soboba Casino 100 100 100 49 Riverside -Downtown Metrolink Station, Downtown Riverside, Country Village, Fontana 60 50 50 50 Jury Trolley — Eden Lutheran Church, Riverside County Courthouse, Downtown Riverside Runs Mon - Thurs: 15-30 No Service 61 Perris Metrolink Station, Sun City, Menifee, Murrieta, Temecula 90 60-70 60-70 74 San Jacinto, Hemet, Winchester, Menifee, Sun City, South Perris Metrolink Station, Perris 90 90 90 79 San Jacinto, Hemet, Winchester, Temecula 90 90 90 200 San Bernardino Downtown Transit Center, Downtown Riverside, Riverside -Downtown Metrolink Station, Galleria at Tyler, La Sierra Metrolink Station, Village at Orange, Anaheim, Disneyland 90-120 90-120 90-120 204 UCR, Downtown Riverside, Country Village, Ontario Mills Mall, Montclair Transcenter 75 Peak No Service 205/206 Temecula, Murrieta, Lake Elsinore, Outlet Center Park and Ride, Tom's Farms, Dos Lagos, Corona Transit Center, Promenade Mall 3 northbound P.M. trips daily No Service Source: RTA May 2021 Ride Guide RTA implemented the following service changes during the audit period: • Routes 22 and 27, two of RTA's longest local bus routes (35 and 52 miles long, respectively) were each split into two separate routes at Perris to improve reliability. o Route 22 (Perris -Riverside Downtown) o New Route 9 (Lake Elsinore -Perris) o Route 27 (Perris -Riverside Galleria Mall) o New Route 28 (Hemet -Perris) • A comprehensive revision of weekend service in the RTA service area allowed seven-day service on all RTA local routes (excluding special weekday shuttle routes), adding Saturday and/or Sunday service on the following routes and route segments: o Route 30 Perris East loop o Route 31 Beaumont -Moreno Valley Michael Baker International - 5 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 o Route 33 East Hemet o Route 42 Hemet -San Jacinto-Soboba Casino o Route 61 Temecula-Murrieta-Menifee-Perris o Route 74 San Jacinto-Hemet-Winchester-Menifee-Perris o Route 79 Hemet -Winchester -Temecula • Route 1 weekend frequency increased from every 30 to every 15 minutes during peak period. • Increased weekend frequency on Routes 16 and 19 from every 30 to every 15 minutes. • Additional weekday trips were added through the midday period on the following CommuterLink routes to meet increasing demand for regional and intercounty trips, variable working hours of many riders, and to connect with all weekday Metrolink trains: o Route 204 (Montclair, Ontario, Jurupa Valley, Riverside) o Route 206 (Corona, Lake Elsinore, Murrieta, Temecula, Temescal Valley) • Implementation of the Free Fares for Youth and College Students Program. Using Low Carbon Transit Operations Program (LCTOP) funding, passengers 18 and younger and college students who attend Cal Baptist University, La Sierra University, Moreno Valley College, Mt. San Jacinto College, Norco College, Riverside City College, and UCR ride for free. The program began on August 1, 2020, and is scheduled to run through July 31, 2022. • In April 2019, the Board approved a two-phase fare increase, the first of which was implemented in July 2019. The second fare increase was scheduled to be implemented in July 2021. However, on February 25, 2021, the Board unanimously approved delaying the July 2021 fare increase for one year until July 2022 due to the financial impacts of the COVID-19 pandemic. Prior to this, fares had not been increased in a decade. On April 28, 2022, the Board unanimously approved canceling the July 2022 fare increase until a new fare policy study can be conducted. • In FY 2019, RTA launched a pilot mobile ticketing program with full implementation in FY 2020. Riders are now able to purchase and use their passes on their phones resulting in fast, convenient, contactless payments. • Due to the COVID-19 pandemic, the following items were implemented in FY 2020 and FY 2021: o Sunday service schedule implemented on all seven days of the week. o Sweeper bus service utilized to pick up passengers when scheduled bus reaches capacity. o No service on major holidays. o Daily cleaning regimens with US Environmental Protection Agency -approved disinfectants on all areas and extra cleaning of high -contact surfaces aboard buses such Michael Baker International - 6 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 as handrails and seatbacks. o Installation of driver barriers. o Continuation of DAR service at available pre-COVID levels as the Agency continues to serve the most vulnerable populations. o Completion of the Service Reduction Plan which evaluated RTA's transit network and to create a more efficient and sustainable system by modifying underperforming and/or duplicative routes and trips. After extensive community outreach and approval from the RTA Board of Directors, most of the recommended changes from the Service Reduction Plan were implemented during the May 2021 service change. The remaining recommendations will be further studied in FY 2022. • In FY 2020, the Vine Street Mobility Hub Conceptual Plan was completed. It was Presented to and approved by the Board in July 2020. The Architectural and Engineering phase for the Vine Street Mobility Hub began in December 2020 and was approved by the Board of Directors in September 2021. • Completion of the Zero -Emission Bus Implementation and Rollout Plan (ZEB Plan). At the November 2020 Board meeting, results of the energy consumption modeling and financial study were presented to the Board along with the recommendation that RTA move forward with an all -hydrogen fuel cell electric bus fleet, which the Board subsequently approved. In December 2020, RTA's ZEB Plan was presented to the Board and approved. RTA submitted the ZEB Plan to the California Air Resources Board, and it was approved in February 2021. Dial -A -Ride Service: RTA is the designated CTSA for western Riverside County and offers three types of DAR services: ADA Priority DAR, Senior/Disabled DAR, and DAR Plus Lifeline. Reservations for service must be made at least 24 hours in advance, with the option to call up to 3 days in advance. DAR operates during the same days and hours as fixed -route buses within a .75 mile range of routes. Pickup times are scheduled within one hour before or one hour after each rider's requested pickup time. The base fare for DAR service is $3.50 per passenger, per boarding. The maximum fare is $10.50 per one-way trip and is based on the number of city zones that the rider travels. Depending on where the trip begins and ends, the rider may be required to transfer. In an effort to improve the availability of appointment time slots and make DAR service more efficient for passengers, RTA has adopted a no-show policy that is designed to limit the number of late cancellations and no-shows. Any DAR rider who is a no-show or cancels their trip after 6:00 p.m. the day before their scheduled pickup may be given penalty points. If a passenger accumulates a specific number of points over a period of time, their service will be temporarily suspended. ADA Priority DAR service offers wheelchair lift -equipped vehicles for curb -to -curb, shared -ride transportation services for persons who are ADA-certified. All ADA Priority DAR riders must apply and be certified for the service to become eligible. RTA has reduced the application processing time to an average of 10 days. Personal care attendants (PCAs) and companions are also able to ride DAR service with an ADA Priority DAR rider. PCAs can ride at no cost; however, companions and children are Michael Baker International - 7 Triennial Performance Audit of Riverside Transit Agency - FYs 2019-2021 required to pay a fare. ADA Priority DAR riders are eligible for trips throughout the RTA service area within .75 miles of fixed routes. Senior/Disabled DAR service offers persons 65 years and older and persons with disabilities who do not meet ADA Priority DAR criteria are eligible for local DAR service within a single city and within .75 miles of fixed routes. Companions are not eligible for these riders. This policy ensures that space is available for those attending to ADA Priority DAR passengers. No application is required. However, on the first trip, riders are required to present proof of disability or age eligibility at the pickup location; photo identification will be required for each trip. Fares In April 2019, the RTA's Board approved a two-phase fare increase, the first of which was implemented in July 2019 and is shown in Table 1-2 below. The second fare increase was scheduled to be implemented in July 2021. However, on February 25, 2021, the Board unanimously approved delaying the July 2021 fare increase for one year until July 2022 due to the financial impacts of the COVID-19 pandemic. Prior to this, fares had not been increased in a decade. On April 28, 2022, the Board unanimously approved canceling the July 2022 fare increase until a new fare policy study can be conducted. Table 1-2 Fare Structure Fixed Route (includes Rapid Link) Prior to July 2019 As of July 2019 Base Fare Day Pass 7 -Day Pass 30 -Day Pass Base Fare Day Pass 7 -Day Pass 30 -Day Pass General $1.50 $4.00 $16.00 $50.00 $1.75 $5.00 $20.00 $60.00 Student (grades 1-12) $1.50 $4.00 $16.00 $35.00 $1.75 $5.00 520.00 $45.00 Senior (60+)/Disabled $0.70 $2.00 $16.00 $23.00 $0.75 $2.50 $20.00 $30.00 Medicare Card Holder $0.70 $2.00 516.00 $23.00 $0.75 $2.50 $20.00 $30.00 Veteran $0.70 $2.00 $16.00 $23.00 $0.75 $2.50 $20.00 $30.00 Children 46" tall or under $0.25 n/a n/a n/a $0.50 n/a n/a n/a CommuterLink Base Fare Day Pass 30 -Day Pass Base Fare Day Pass 30 -Day Pass General $3.00 $7.00 $75.00 $3.50 $10.00 $95.00 Student (grades 1-12) $3.00 $7.00 $75.00 $3.50 $10.00 $95.00 Senior (60+)/Disabled $2.00 $5.00 $50.00 $2.75 $7.00 $70.00 Medicare Card Holder $2.00 $5.00 $50.00 $2.75 $7.00 $70.00 Veteran $2.00 $5.00 $50.00 $2.75 $7.00 $70.00 Children 46" tall or under $2.00 n/a n/a $2.75 n/a n/a Dial -A -Ride Base Fare 10 -Ticket Books Base Fare 10 -Ticket Books Senior/Disabled $3.00 $30.00 $3.50 $35.00 Medicare Card Holder $3.00 $30.00 $3.50 $35.00 Children under46" $0.50 n/a $0.75 n/a Source: RTA Michael Baker International - 8 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 RTA administers the following cooperative fare agreements and subsidy programs: ■ University of California, Riverside — U -Pass Program, Route 51 Crest Cruiser ■ Riverside Community College — Go -Pass Program ■ Moreno Valley College — Go -Pass Program ■ La Sierra University — U -Pass Program ■ California Baptist University — U -Pass Program ■ Mt. San Jacinto College — Go -Pass Program ■ City of Temecula — Route 55 Temecula Trolley ■ Riverside County Transportation Commission — Festival of Lights Shuttle ■ Norco College — Go -Pass Program RTA has transfer agreements with the following transit agencies: • Corona Cruiser, Omnitrans, SunLine, Banning Connect, and City of Beaumont Transit: 1 -Day and multi -day passes are accepted for base fare ($1.50 for General/Youth and $0.70 for Senior/ Disabled with proper ID) on local fixed -route buses at transfer locations only. Transfer media are not valid for DAR service on SunLine, Banning Connect, and Beaumont Transit. Omnitrans transfer media is valid on CommuterLink with payment of any fare differential. Omnitrans transfer media is not valid on DAR, and RTA transfer media is not valid on Access (Omnitrans demand -response service). • Orange County Transportation Authority (OCTA): 1-Day,multi-day, and Agency -issued ID fares are accepted on Routes 15, 200, and 205 only in Orange County and only for base fare ($1.50 for General/Youth and $0.70 for Senior/Disabled/Veteran with proper ID). Additional fare is required. OCTA passes are not accepted in Riverside County. • Metrolink (RCTC has agreement with Metrolink): RTA accepts valid Metrolink passes for the full fare on routes that serve Metrolink stations for customers traveling to or from a Metrolink station during the period from one hour before to one hour after Metrolink's service hours. The Metrolink pass must be valid on the day of travel. New, unvalidated 10 -trip Metrolink passes carried by passengers traveling to Metrolink stations are also accepted on boardings as those pass -holders are required to validate their new passes at the stations. Metrolink passes are not valid on DAR service. RTA has service agreements or memorandums of understanding (MOU) with the following agencies/organizations: • Soboba Band of Luiseno Indians — bus stop agreement • PLACE Performance — Trolley dances • Moreno Valley Mall Holding LLC — bus stop agreement • Menifee Valley Medical Center — bus stop agreement Michael Baker International - 9 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 • City of Riverside — Bike share facility at bus stop (Magnolia & Terracina) • Family Service Association — bus stop agreement • Wakeland Housing and Development Corporation — applying for funds to make sustainable transportation infrastructure improvements and the construction of transit amenities • RCTC — ATIS equipment and maintenance of restrooms at transit centers • Southern California Regional Rail Authority — Metrolink bus bridge service Vehicle Fleet In FY 2021, there were a total of 334 revenue vehicles in the RTA fleet. Fixed -route vehicles totaled 224 (145 for directly operated service and 79 for contracted service), while demand- response vehicles totaled 110 (excluding taxis). The entire fixed -route fleet has been converted to compressed natural gas (CNG) fuel. Table 1-3 Vehicle Fleet Vehicle Type Year Number of Vehicles Service Mode Seating Directly Operated Fixed Route/CommuterLink (145 vehicles) Gillig G27D102N4 2013 78 Fixed 38 Gillig G27D102N4 2013 4 CommuterLink 38 Gillig G27D102N4 2014 13 Fixed 38 Gillig G27D102N4 2014 13 CommuterLink 38 Gillig G27D102N4 2016 15 Fixed 38 Gillig G27D102N4 2016 7 CommuterLink 38 Gillig G27D102N4 2016 15 Bus Rapid Transit 38 Contracted Fixed Route/CommuterLink (79 vehicles) Startrans Senator II HD 2018 4 Fixed 28 Hometown Trolley Villager 2018 5 Fixed 28 Glaval Entourage 2018 7 CommuterLink 28 Glaval Entourage 2018 3 Fixed 28 Glaval Entourage 2019 60 Fixed 28 Contracted Demand Response (110 vehicles) El Dorado National Aero Tech 220 2016 4 Dial -A -Ride 12 Glaval Universal 2017 30 Dial -A -Ride 12 Startrans Senator II 2018 39 Dial -A -Ride 12 Startrans Senator II 2020 37 Dial -A -Ride 12 Source: RTA, as of 06/30/2021 In addition to the revenue vehicles, RTA has a fleet of 65 non -revenue support vehicles. Replacement and expansion of the fleet is determined by the Fleet Management Plan. Due to the shorter useful life of the contracted vehicles, replacement of contracted vehicles ison-going. The contracted fixed - route vehicles have been operated and maintained by Empire Transportation since FY 2012. DAR vehicles were operated and maintained by Transdev starting in February 2014 until Southland Transit took over the operations and maintenance for DAR service in February 2018. Michael Baker International -10 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 Fleet Facilities RTA operates directly operated fixed -route service out of two facilities, one located in the City of Riverside and the other in the City of Hemet. While operations and maintenance are provided at both facilities, most of RTA's administrative employees are located in the main Riverside office. Contracted fixed- route and DAR services are operated out of two facilities in the City of Perris. CNG is available at the Riverside and Hemet facilities for the Agency's alternative fueled fleet. Because of the extensive investment needed for CNG technology and fueling stations, RTA's maintenance facility in Hemet also serves as a public fueling station for CNG vehicles. RTA generates additional revenue from the sale and use of CNG. The current facilities can accommodate present operations and have room for limited expansion if necessary. Michael Baker International -11 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 Section 11 Operator Compliance Requirements This section of the audit report contains the analysis of RTA's ability to comply with state requirements for continued receipt of TDA funds. The evaluation uses the Performance Audit Guidebook for Transit Operators and Regional Transportation Planning Agencies, which was developed by Caltrans to assess transit operators. The guidebook contains a checklist of eleven measures taken from relevant sections of the PUC and the California Code of Regulations. Each of these requirements is discussed in the table below, including a description of the system's efforts to comply with the requirements. In addition, the findings from the compliance review are described in the text following the table. Table 11-1 Operator Compliance Requirements Matrix Operator Compliance Requirements Reference Compliance Efforts The transit operator has submitted annual reports to the RTPA based upon the Uniform System of Accounts and Records established by the State Controller. Report is due within seven (7) months after the end of the fiscal year (on or before January 31). The report shall contain underlying data from audited financial statements prepared in accordance with generally accepted accounting principles, if this data is available. Public Utilities Code, Section 99243 Completion/submittal dates: (For General Public and Specialized Service Submissions) FY 2019: December 19, 2019 FY 2020: November 17, 2020 FY 2021: December 6, 2021 Conclusion: Complied. The operator has submitted annual fiscal and compliance audits to the RTPA and to the State Controller within 180 days following the end of the fiscal year (Dec. 27), or has received the appropriate 90- day extension by the RTPA allowed by law. Public Utilities Code, Section 99245 Completion/submittal dates: FY 2019: October 4, 2019 FY 2020: September 22, 2020 FY 2021: October 1, 2021 Source: FY2019-2021 RTA Basic Financial Reports Conclusion: Complied. Michael Baker International -12 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 Table 11-1 Operator Compliance Requirements Matrix Operator Compliance Requirements Reference Compliance Efforts The CHP has, within the 13 months prior to each TDA claim submitted by an operator, certified the operator's compliance with Vehicle Code Section 1808.1 following a CHP inspection of the operator's terminal. Public Utilities Code, Section 99251 B RTA and its contract operators participate in the California Highway Patrol (CHP) Transit Operator Compliance Program in which the CHP has conducted inspections within the 13 months prior to each TDA claim. Terminal inspections were conducted at RTA operation facilities located in Hemet at 700 Scaramella Circle, and in Riverside at 1825 3rd Street. Inspections were also conducted at the contract operator facilities located at 110 South G Street, Perris (Transdev/Southland Transit), and at 340 Mountain Avenue, Perris (Empire Transportation). RTA—Hemet: Inspection dates applicable to the audit period were May 13 and 14, 2019; June 3 and 4, 2020; and June 16 and 17, 2021. RTA — Riverside: Inspection dates applicable to the audit period were May 1, 2019; May 12, 13, and 14, 2020; and May 19, 20, and 21, 2021. Transdev/Southland Transit — Perris: Inspection dates applicable to the audit period were March 5, 6, and 7, 2019; March 2, 3, 4, and 5, 2020; and April 5 and 6, 2021. Empire Transportation — Perris: Inspection dates applicable to the Michael Baker International -13 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 Table 11-1 Operator Compliance Requirements Matrix Operator Compliance Requirements Reference Compliance Efforts audit period were March 14, 18, and 20, 2019; March 11 and 12, 2020; and March 16 and 17, 2021. Inspections were rated satisfactory by the CHP. Conclusion: Complied. The operator's claim for TDA funds is submitted in compliance with rules and regulations adopted by the RTPA for such claims. Public Utilities Code, Section 99261 As a condition of approval, RTA's annual claims for Local Transportation Funds and State Transit Assistance are submitted in compliance with the rules and regulations adopted by RCTC. Conclusion: Complied. If an operator serves urbanized and non -urbanized areas, it has maintained a ratio of fare revenues to operating costs at least equal to the ratio determined by the rules and regulations adopted by the RTPA. Public Utilities Code, Section 99270.1 RTA is subject to Section 99270.1 and is required to achieve or exceed a mandatory blended farebox recovery ratio target established by RCTC. Target Actual * FY 2019: 16.72% 24.77% FY 2020: 16.81% 20.07% FY 2021:** 17.81% 9.80% *Includes eligible non -fare revenue in calculation. ** Assembly Bill 90, passed into law and signed by the governor in June 2020 in response to the COVID-19 pandemic impacts, prohibits the imposition of penalties on a transit operator that does not maintain the required ratio of fare revenues to operating cost during the FY 2019-20 or FY 2020-21. Source: FY 2019-2021 RTA Basic Michael Baker International -14 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 Table 11-1 Operator Compliance Requirements Matrix Operator Compliance Requirements Reference Compliance Efforts Financial Statements Conclusion: Complied. The operator's operating budget has not increased by more than 15% over the preceding year, nor is there a substantial increase or decrease in the scope of operations or capital budget provisions for major new fixed facilities unless the operator has reasonably supported and substantiated the change(s). Public Utilities Code, Section 99266 Percentage change in the annual RTA operating budget: FY 2019: + 8.3% FY 2020: + 2.0% FY 2021: -8.8% Source: FYs 2019-2021 RTA Basic Financial Reports; Adopted RTA Budgets for FYs 2018-2021 Conclusion: Complied. The operator's definitions of performance measures are consistent with Public Utilities Code Section 99247, including (a) operating cost, (b) operating cost per passenger, (c) operating cost per vehicle service hour, (d) passengers per vehicle service hour, (e) passengers per vehicle service mile, (f) total passengers, (g) transit vehicle, (h) vehicle service hours, (i) vehicle service miles, and (j) vehicle service hours per employee. Public Utilities Code, Section 99247 RTA's performance measures are defined in accordance with PUC requirements. RTA collects data electronically and employs a verification method including auto - entry into TransTrack. Conclusion: Complied. If the operator serves an urbanized area, it has maintained a ratio of fare revenues to operating costs at least equal to one -fifth (20 percent), unless it is in a county with a population of Public Utilities Code, Sections 99268.2, 99268.3, 99268.1 RTA must meet a blended farebox recovery ratio target that is under a separate operator compliance requirement. Conclusion: Not Applicable. Michael Baker International -15 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 Table 11-1 Operator Compliance Requirements Matrix Operator Compliance Requirements Reference Compliance Efforts less than 500,000, in which case it must maintain a ratio of fare revenues to operating costs of at least equal to three - twentieths (15 percent), if so determined by the RTPA. If the operator serves a rural area, or provides exclusive services to elderly and disabled persons, it has maintained a ratio of fare revenues to operating costs at least equal to one -tenth (10 percent). Public Utilities Code, Sections 99268.2, 99268.4, 99268.5 RTA must meet a blended farebox recovery ratio target that is under a separate operator compliance requirement. Conclusion: Not Applicable. The current cost of the operator's retirement system is fully funded with respect to the officers and employees of its public transportation system, or the operator is implementing a plan approved by the RTPA which will fully fund the retirement system within 40 years. Public Utilities Code, Section 99271 As described in the annual basic financial statements, RTA contributes to the California Public Employees' Retirement System (CaIPERS) under the 2% @ 62 provision on or after January 1, 2013 (2% @ 55 provision prior to January 1, 2013). Participants are required to contribute 6.25%-7% of their annual covered salary. In accordance with labor union MOUs, RTA contributes 8.018% to its employees' retirement. Conclusion: Complied. If the operator receives state transit assistance funds, the operator makes full use of funds available to it under the Urban Mass Transportation Act of 1964 before TDA claims are granted. California Code of Regulations, Section 6754(a)(3) RTA utilizes federal funds that are available to the Agency, as reported in the Transit Operator Financial Transactions Reports as follows: FY 2019: $19,793,222 (Operations) $15,054,008 (Capital) FY 2020: $25,576,580 (Operations) $3,139,825 (Capital) FY 2021: 56,452,454(Operations) 8,834,663(Capital) Michael Baker International -16 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 Table 11-1 Operator Compliance Requirements Matrix Operator Compliance Requirements Reference Compliance Efforts Conclusion: Complied. Findings and Observations from Operator Compliance Requirements Matrix 1. Of the compliance requirements pertaining to RTA, the operator fully complied with all nine applicable requirements. Two additional compliance requirements did not apply to RTA (rural and urbanized farebox recovery ratios), as the transit operator is subject to the blended ratio under PUC 99270.1. 2. The blended farebox recovery ratio target approved by RCTC for RTA service was met in FY 2019 and FY 2020. RTA did not meet the farebox recovery ratio target in FY 2021; however, Assembly Bill 90, passed into law and signed by the governor in June 2020 in response to the COVID-19 pandemic impacts, prohibits the imposition of penalties on a transit operator that does not maintain the required ratio of fare revenues to operating cost during the FY 2019- 20 or FY 2020-21. Including eligible non -fare revenue, the farebox recovery ratio was 24.77 percent in FY 2019; 20.07 percent in FY 2020; and 9.80 percent in FY 2021, according to the audited basic financial statements. The average annual farebox recovery ratio was 18.21 percent. 3. RTA and its contract operators participate in the CHP Transit Operator Compliance Program and received vehicle inspections within the 13 months prior to each TDA claim. Terminal inspections received satisfactory ratings by the CHP. 4. The operating budget exhibited modest increases and did not exceed 15 percent during the period. After a 8.3 percent increase in FY 2019, the budget increased 2.0 percent in FY 2020. The FY 2021 operating budget decreased by 8.8 percent. Total Agency salaries and purchased transportation costs declined in the last fiscal year as a result of the pandemic, though insurance premiums increased. Michael Baker International -17 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 Section 111 Prior Triennial Performance Audit Recommendations RTA's efforts to implement the recommendations made in the prior triennial audit are examined in this section of the report. For this purpose, each prior recommendation for the Agency is described, followed by a discussion of the Agency's efforts to implement the recommendation. Conclusions concerning the extent to which the recommendations have been adopted by the Agency are then presented. Prior Recommendation 1 Focus efforts on evaluating the commuter ridership market. Background: The RTA FY 2018-2020 Short Range Transit Plan (SRTP) indicated that the CommuterLink ridership market has been hit the hardest by the low gas prices as well as the opening of the 91/Perris Valley passenger rail line. Ridership reports during the audit period show the decline in ridership and subsequent farebox recovery from this particular service. CommuterLink riders are the most likely to have the greatest discretion when deciding to use RTA, as found in the 2018 RTA Market Assessment and Strategic Directions Study. The market assessment found that riders on the CommuterLink routes are more likely to cite traveling more in general and driving alone; however, the awareness of RTA's specialized services such as CommuterLink is lower than RTA's other services. Amenities on CommuterLink routes such as the high -back upholstered seating, reading lights, free Wi-Fi and USB charging stations are added values to the service that attract and retain customers. The SRTP indicated this service type will continue to be monitored, and service levels adjusted, in line with demand. Findings from the market assessment study and changes in ridership patterns show a need to continue a focused effort on meeting the varying and growing demand from commuters to employment centers. A new change in demand cited by RTA is from shift -work employees who do not have regular peak morning and afternoon work hours. Additional focused surveys for CommuterLink customers and evaluation of these routes using data analytic tools from RTA's investment in technology should help enable the planning and improvement of services to meet the commuter ridership market, which will boost performance measures and farebox recovery. Actions taken by RTA: In October 2018, RTA completed a Market Assessment and Strategic Directions Study, which evaluated ridership and identified strategies that can be implemented to encourage additional ridership, including an evaluation of CommuterLink service. In January 2020, RTA secured grant funding to add off-peak CommuterLink service in response to new residential developments, increasing nontraditional work hours, and high travel demand on the main corridors linking south and north of western Riverside County. RTA plans to continue to market CommuterLink service via billboards, Rider Alerts, Rider News, RTA Reader, Ride Guide, RTA website, and social media. In April Michael Baker International -18 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 2021, RTA surveyed Route 200 riders at major transit centers to identify their needs and ensure that service levels were meeting demand, given capacity limits of 10 people per 40 -foot bus due to the COVID-19 pandemic. RTA staff was compiling and analyzing the results of these efforts at the time of Michael Baker's staff interviews. Conclusion: This recommendation has been implemented. Prior Recommendation 2 Evaluate plans for RTA facility growth that align with increased transit services in the southern section of the service area. Background: Existing RTA operations and maintenance facility divisions are located in the northern and central portions of western Riverside County, including in the Cities of Riverside and Hemet, and contractor locations in the City of Perris. Tremendous population growth has occurred around the RTA service area, including the Cities of Temecula and Murrieta in the southwestern county. RTA bus services include a growing proportion of local, regional, and commuter routes in these community areas. However, with limited bus facilities available in this service area, vehicles incur relatively high non -revenue service hours and miles prior to and after revenue service by traveling to and from the existing operations facilities. This is shown, for example, in the contracted services data for commuter services. RTA has been reviewing potential options for facility locations that can more efficiently serve the southern service area, including consolidation of contractor facilities in Hemet on RTA property. Whether through expansion of existing facilities or new locations, RTA should factor in the level of non -revenue service in its planning and implementation of routes connecting the southern areas, and the infrastructure needs that align with this growth. Actions taken by RTA: With the RTA's Board of Directors formally adopting an all -hydrogen fuel cell electric bus fleet (FCEB) via the approval of RTA's ZEB Plan in November 2020, and the drastic decrease in ridership resulting from the COVID-19 pandemic, all facility growth and service increase plans have been paused until ridership and service demand returns. RTA continues to evaluate service needs and is completing a study in FY 2023 to assess whether routes need to be modified due to the range limitations associated with current FCEBs when compared to CNG fleets. Conclusion: This recommendation is no longer applicable. Michael Baker International -19 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 Section IV TDA Performance Indicators This section reviews RTA's performance in providing transit service to the community in an efficient and effective manner. TDA requires that at least five specific performance indicators be reported, which are contained in the following tables. Farebox recovery ratio is not one of the five specific indicators but is a requirement for continued TDA funding. Therefore, farebox calculation is also included. Two additional performance indicators, operating cost per mile and average fare per passenger, are included as well. Findings from the analysis are contained in the section following the tables. Tables IV -1 through IV -5 provide the performance indicators for the followingservices: • System -wide • Fixed Route, Directly Operated • Fixed Route, Contracted • General Public (total of fixed route directly operated and contracted) • Demand Response (Dial -A -Ride) Graphs are also provided to depict the trends in the indicators. Data in the tables and graphs were derived from several sources, including National Transit Database (NTD) reports and RTA's State Controller employee count. Sources are noted in footnotes below the tables. Michael Baker International - 20 Triennial Performance Audit of Riverside Transit Agency - FYs 2019-2021 Table IV -1 TDA Performance Indicators, System -wide Verified TDA Statistics & Performance Indicators Base Year FY 2018 Audit Review Period Change FY 2018 - 2021 FY 2019 FY 2020 FY 2021 Operating Costs (less depreciation) (1) $79,372,860 $85,930,268 $87,610,155 $79,902,271 0.7% Adjusted Operating Costs (less depreciation, grant expenses, & expenses from exempt routes) (1) $76,320,585 $73,902,008 $78,761,943 $64,462,242 -15.5% Unlinked Passengers 8,583,410 8,697,652 6,977,135 3,015,434 -64.9% Vehicle Service Hours 871,286 880,027 793,966 527,715 -39.4% Vehicle Service Miles 13,276,908 13,376,950 12,009,470 8,206,886 -38.2% Employee FTEs 815 819 762 611 -25.0% Total Passenger Fare Revenue $10,712,941 $11,003,883 $9,320,568 $3,217,731 -70.0% Other Fare Revenue Contributions $5,838,896 $7,298,277 $6,488,999 $3,100,820 -46.9% Total Fare Revenue $16,551,837 $18,302,160 $15,809,567 $6,318,551 -61.8% Operating Cost per Passenger (2) $9.25 $9.88 $12.56 $26.50 186.5% Operating Cost per Vehicle Service Hour (2) $91.10 $97.65 $110.34 $151.41 66.2% Operating Cost per Vehicle Service Mile (2) $5.98 $6.42 $7.30 $9.74 62.9% Passengers per Vehicle Service Hour 9.85 9.88 8.79 5.71 -42.0% Passengers per Vehicle Service Mile 0.65 0.65 0.58 0.37 -43.1% Vehicle Service Hours per Employee FTE 1,069 1,075 1,042 864 -19.2% Average Fare per Passenger $1.25 $1.27 $1.34 $1.07 -14.4% Farebox Recovery Ratio (passenger fares only) (Z) 13.5% 12.8% 10.6% 4.0% -70.4% Adjusted Farebox Recovery Ratio (adjusted operating costs & other fare revenue contributions) (3) 21.69% 24.77% 20.07% 9.80% -54.80% System -wide Adjusted Farebox Recovery Ratio Target 17.44% 16.72% 16.81% 17.81% 2.12% Percentage Change in Consumer Price Index (CPI -All Items & Consumers, LA- Riverside -Orange Co.) (4) 3.5% 3.4% 2.5% 2.0% 8.1% Sources: NTD and Basic Financial Statements (1) System -wide operating costs as shown in RTA's Basic Financial Statement reports. Modal operational costs in subsequent tables are noted as shown in RTA's NTD reports. Modal operational costs do not sum to operational costs due to differing data sources. (2) Calculation uses operating costs less depreciation. (3) Calculation uses adjusted operational costs. (4) Percentage change in the three-year CPI is based on the difference between the FY 2021 price index and FY 2018 price index. The annual CPI is the change in the price index from the prior year. It is noted that the LA -Riverside - Orange CPI was updated as two separate CPI's. RCTC utilizes the Riverside -San Bernardino -Ontario CPI index as of FY 21. Michael Baker International - 21 Triennial Performance Audit of Riverside Transit Agency - FYs 2019-2021 Table IV -2 TDA Performance Indicators Fixed Route, Directly Operated Verified TDA Statistics & Performance Indicators Base Year FY 2018 Audit Review Period Change FY 2018 - 2021 FY 2019 FY 2020 FY 2021 Operating Costs (1) $48,439,902 $52,752,258 $56,480,634 $54,432,769 12.4% Unlinked Passengers 6,733,159 6,825,680 5,506,023 2,468,106 -63.3% Vehicle Service Hours 454,084 477,158 455,048 335,063 -26.2% Vehicle Service Miles 6,414,376 6,634,855 6,398,536 4,999,256 -22.1% Employee FTEs 444 458 455 387 -12.8% Passenger Fare Revenue $6,357,771 $6,627,589 $6,090,859 $1,893,398 -70.2% Operating Cost per Passenger (2) $7.19 $7.73 $10.26 $22.05 206.7% Operating Cost per Vehicle Service Hour (2) $106.68 $110.56 $124.12 $162.46 52.3% Operating Cost per Vehicle Service Mile (2) $7.55 $7.95 $8.83 $10.89 o 44.2% Passengers per Vehicle Service Hour 14.83 14.3 12.1 7.37 -50.3% Passengers per Vehicle Service Mile 1.05 1.03 0.86 0.49 -53.3% Vehicle Service Hours per Employee FTE 1,023 1,042 1,000 866 -15.3% Average Fare per Passenger $0.94 $0.97 $1.11 $0.77 -18.1% Farebox Recovery Ratio (Fixed Route Directly Operated Mode Only) (2) 13.1% 12.6% 10.8% 3.5% 73.3% Percentage Change in Consumer Price Index (CPI -All Items & Consumers, LA -Riverside -Orange Co.) 3.5% 3.4% 2.5% 2.0% 8.1% Sources: NTD and RTA's Pay Hours Report (1) Modal operating costs as shown in RTA's NTD reports. Modal operational costs do not sum to system -wide operational costs due to differing data sources. System -wide operating costs as shown in RTA's Basic Financial Statement reports. (Z) Calculation uses modal operational cost. Michael Baker International - 22 Triennial Performance Audit of Riverside Transit Agency - FYs 2019-2021 Table IV -3 TDA Performance Indicators Fixed Route, Contracted Verified TDA Statistics & Performance Indicators Base Year FY 2018 Audit Review Period Change FY 2018 - 2021 FY 2019 FY 2020 FY 2021 Operating Costs (1) $15,620,000 $16,656,222 $16,362,192 $13,510,095 -13.5% Unlinked Passengers 1,434,349 1,465,889 1,187,470 451,701 -68.5% Vehicle Service Hours 206,028 209,163 193,171 128,888 -37.4% Vehicle Service Miles 3,437,415 3,424,493 3,118,952 2,025,881 -41.1% Employee FTEs 162 170 145 127 -21.6% Passenger Fare Revenue $2,850,017 $2,897,244 $1,826,340 $685,229 -76.0% Operating Cost per Passenger (2) $10.89 $11.36 $13.78 $29.91 174.7% Operating Cost per Vehicle Service Hour (2) $75.81 $79.63 $84.70 $104.82 o 38.3% Operating Cost per Vehicle Service Mile (2) $4.54 $4.86 $5.25 $19.72 o 334.4/ Passengers per Vehicle Service Hour 6.96 7.01 6.15 3.5 -49.7% Passengers per Vehicle Service Mile 0.42 0.43 0.38 0.66 57.1% Vehicle Service Hours per Employee FTE 1,272 1,230 1,332 1,015 -20.2% Average Fare per Passenger $1.99 $1.98 $1.54 $1.52 -23.6% Farebox Recovery Ratio (Fixed Route, Contracted Mode Only) (2) 18.2% 17.4% 11.2% 5.1% -72.0% Percentage Change in Consumer Price Index (CPI -All Items & Consumers, LA -Riverside -Orange Co.) 3.5% 3.4% 2.5% 2.0% 8.1% Sources: NTD and RTA's Pay Hours Report (1) Modal operating costs as shown in RTA's NTD reports. Modal operational costs do not sum to system -wide operational costs due to differing data sources. System -wide operating costs as shown in RTA's Basic Financial Statement reports. (2) Calculation uses modal operational cost. Michael Baker International - 23 Triennial Performance Audit of Riverside Transit Agency - FYs 2019-2021 Table IV -4 TDA Performance Indicators General Public Service (Directly Operated and Contracted Fixed Route) Verified TDA Statistics & Performance Indicators Base Year FY 2018 Audit Review Period % Change FY 2018 - 2021 FY 2019 FY 2020 FY 2021 Operating Costs (1) $64,059,902 $69,408,480 $72,842,826 $67,942,864 6.1% Unlinked Passengers 8,167,508 8,291,569 6,693,493 2,919,807 -64.3% Vehicle Service Hours 660,112 686,321 648,219 463,951 -29.7% Vehicle Service Miles 9,851,791 1.0,059,348 9,517,488 7,025,137 -28.7% Employee FTEs 606 628 600 514 -15.2% Passenger Fare Revenue $9,207,788 $9,524,833 $7,917,199 $2,578,627 -72.0% Operating Cost per Passenger (2) $7.84 $8.37 $10.88 $23.27 196.8% Operating Cost per Vehicle Service Hour (2) $97.04 $101.13 $112.37 $146.44 50.9% Operating Cost per Vehicle Service Mile (2) $6.50 $6.90 $7.65 $9.67 u 48.8% Passengers per Vehicle Service Hour 12.37 12.08 10.33 6.29 -49.2% Passengers per Vehicle Service Mile 0.83 0.82 0.7 0.42 -49.4% Vehicle Service Hours per Employee FTE 1,089 1,093 1,032 903 -17.1% Average Fare per Passenger $1.13 $1.15 $1.18 $0.88 -22.1% Farebox Recovery Ratio (Total Fixed Route Mode Only) (2) 14.4% 13.7% 10.9% 3.8% -73.6% Percentage Change in Consumer Price Index (CPI -All Items & Consumers, LA -Riverside -Orange Co.) 3.5% 3.4% 2.5% 2.0% 8.1% Sources: NTD and RTA's Pay Hours Report (1) Modal operating costs as shown in RTA's NTD reports. Modal operational costs do not sum to system -wide operational costs due to differing data sources. System -wide operating costs as shown in RTA's Basic Financial Statement reports. (2) Calculation uses modal operational cost. Michael Baker International - 24 Triennial Performance Audit of Riverside Transit Agency - FYs 2019-2021 Table IV -5 TDA Performance Indicators Dial -A -Ride Demand Response Service Verified TDA Statistics & Performance Indicators Base Year FY 2018 Audit Review Period % Change FY 2018-2021 FY 2019 FY 2020 FY 2021 Operating Costs (1) $13,645,526 $14,484,987 $12,941,221 $9,032,504 -33.8% Unlinked Passengers 415,902 406,083 283,642 95,627 -77.0% Vehicle Service Hours 211,174 193,706 145,747 63,764 -69.8% Vehicle Service Miles 3,425,117 3,317,602 2,491,982 1,181,749 -65.5% Employee FTEs 209 191 162 97 -53.6% Passenger Fare Revenue $1,505,152 $1,479,050 $1,424,495 $835,971 -44.5% Operating Cost per Passenger (2) $32.81 $35.67 $45.63 $94.46 187.9% Operating Cost per Vehicle Service Hour (2) $64.62 $74.78 $88.79 $141.66 119.2% Operating Cost per Vehicle Service Mile (2) $3.98 $4.37 $5.19 $7.64 92.0% Passengers per Vehicle Service Hour 1.97 2.1 1.95 1.5 -23.9% Passengers per Vehicle Service Mile 0.12 0.12 0.11 0.08 -33.3% Vehicle Service Hours per Employee FTE 1,010 1,014 900 657 -35.0% Average Fare per Passenger $3.62 $3.64 $5.02 $8.74 141.4% Farebox Recovery Ratio (2) 11.0% 10.2% 11.0% 9.3% -15.5% Percentage Change in Consumer Price Index (CPI -All Items & Consumers, LA- Riverside -Orange Co.) 3.5% 3.4% 2.5% 2.0% 8.1% Sources: NTD and RTA's Pay Hours Report (1) Modal operating costs as shown in RTA's NTD reports. Modal operational costs do not sum to system -wide operational costs due to differing data sources. System -wide operating costs as shown in RTA's Basic Financial Statement reports. (Z) Calculation uses modal operational cost. Michael Baker International - 25 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 System -wide, $100,000,000 $90,000,000 $80,000,000 $70,000,000 $60,000,000 $50,000,000 $40,000,000 $30,000,000 $20,000,000 $10,000,000 $- Graph IV -1 Operating Costs General Public (Direct & Contracted), and Demand Response 1 11 FY 2018 FY 2019 • Systemwide • Total Fixed Route • Fixed Route, Contracted • Dial -a -Ride 11 FY 2020 Note: Graph displays non -adjusted operating cost, less depreciation. 11. FY 2021 • Fixed Route, Directly Operated Graph IV -2 Ridership System -wide, General Public (Direct & Contracted), and Demand Response 10,000,000 9,000,000 8,000,000 7,000,000 6,000,000 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 I11. FY 2019 FY 2020 FY 2021 • Systemwide • Total Fixed Route • Fixed Route, DO • Fixed Route, Contracted • Dial -a -Ride Michael Baker International - 26 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 Graph IV -3 Operating Cost per Passenger System -wide, General Public (Direct & Contracted), and Demand Response $100.00 $90.00 $80.00 $70.00 $60.00 $50.00 $40.00 $30.00 $20.00 $10.00 0.00 11.11 11111 11111 FY 2018 FY 2019 FY 2020 FY 2021 1 • Systemwide • Total Fixed Route • Fixed Route, DO • Fixed Route, Contracted • Dial -a -Ride System -wide, $180.00 $160.00 $140.00 $120.00 $100.00 $80.00 $60.00 $40.00 $20.00 $0.00 1 Graph IV -4 Operating Cost per Vehicle Service Hour General Public (Direct & Contracted), and Demand Response 11 FY 2018 11 FY 2019 FY 2020 FY 2021 • Systemwide • Total Fixed Route ® Fixed Route, DO ■ Fixed Route, Contracted • Dial -a -Ride Michael Baker International - 27 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 Graph IV -5 Passengers per Vehicle Service Hour System -wide, General Public (Direct & Contracted), and Demand Response 16.0 14.0 12.0 10.0 8.0 6.0 4.0 2.0 0.0 20% 18% 16% 14% 12% 10% 8% 6% 4% 2% 0% i FY 2018 1 FY 2019 1 11 Ohl FY 2020 FY 2021 ■ Systemwide ■ Total Fixed Route ® Fixed Route, DO ■ Fixed Route, Contracted ■ Dial -a -Ride Graph IV -6 Fare Recovery Ratio (Passenger Fares Only) System -wide, General Public (Direct & Contracted), and Demand Response FY 2018 FY 2019 lid FY 2020 FY 2021 ■ Systemwide ■ Total Fixed Route • Fixed Route, DO ■ Fixed Route, Contracted ■ Dial -a -Ride Note: System -wide ratio is audited; modal ratios are unaudited. Michael Baker International - 28 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 Graph IV -7 System -wide Fare Recovery Ratio: Actuals & Targets (Using Adjusted Operating Costs & Other Fare Contributions) 30.00% 25.00% 20.00% 15.00% - 10.00% • 5.00% 0.00% E FY 2018 FY 2019 FY 2020 Actual Target FY 2021 Michael Baker International - 29 Triennial Performance Audit of Riverside Transit Agency - FYs 2019-2021 Statement of Facts from Verification of TDA Performance Indicators It is noted that adverse impacts on transit service from the COVID-19 pandemic and statewide shelter - in -place order are reflected in various performance measure trends described below. The operator's response during this period is contained in the functional review section of this audit. 1. Operating costs (less depreciation) for RTA's general public service increased by 6.1 percent over the audit period while DAR service decreased by 33.8 percent. System -wide operating costs increased nominally by 0.7 percent. 2. Ridership on general public service decreased by 64.3 percent from FY 2018 to FY 2021, from 8.2 million to 3 million passengers. Ridership on DAR service decreased by 77 percent, from 416,000 to 96,000. System -wide ridership decreased by 64.9 percent during the audit period, which was symptomatic of transit industry trends during the same time period due to the COVID-19 pandemic as well as trends that were in play before the pandemic including the economy, gas prices, automobile ownership, low interest rates on auto loans, and population and demographic changes. 3. The provision of vehicle service hours and miles for general public service decreased by 29.7 percent and 28.7 percent, respectively, as RTA decreased service levels in response to the COVID- 19 pandemic. DAR vehicle service hours and miles decreased by 69.8 percent and 65.5 percent, respectively. 4. Operating cost per passenger increased by 186.5 percent system -wide, by 196.8 percent for general public service, and by 187.9 percent for DAR service (as compared to an 8.1 percent change in inflation during the audit period). This performance measure reflects the drastic impacts of sudden decreases in ridership resulting from the COVID-19 pandemic. 5. Operating cost per vehicle service hour increased by 66.2 percent system -wide, by 119.2 percent for DAR service, and by 50.9 percent for general public service. Operating cost per vehicle service mile increased by 62.9 percent system -wide, by 92.0 percent for DAR service, and by 48.8 percent for general public service. 6. Passengers per vehicle service hour decreased by 42 percent system -wide, by 49.2 percent for general public service, and by 23.9 percent for DAR service. Passengers per vehicle service mile decreased by 43.1 percent system -wide, by 49.4 percent for general public service, and by 33.3 percent for DAR service. 7. Vehicle service hours per employee full time equivalent (FTE) for general public service decreased by 17.1 percent, from 1,089 in FY 2018 to 903 in FY 2021. Michael Baker International - 30 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 8. The average fare per passenger decreased 14.4 percent system -wide, from $1.25 in FY 2018 to $1.07 in FY 2021. Average fare for DAR service increased by 141.4 percent, from $3.62 in FY 2018 to $8.74 in FY 2021. The average fare for general public service decreased by 22.1 percent, from $1.13 in FY 2018 to $0.88 in FY 2021. 9. The fare recovery ratio for general public service decreased from 14.4 percent in FY 2018 to 3.8 percent in FY 2021, while the fare recovery ratio for DAR service decreased from 11 percent in FY 2018 to 9.3 percent in FY 2021. These fare recovery ratios do not include eligible non -fare revenue allowed by RCTC. 10. The RCTC-allowed farebox is based on a system -wide, audited, blended farebox recovery ratio target that accounts for both fixed -route and DAR service and includes multiple eligible non -fare revenue such as local Measure A sales tax contributions, LCTOP operating grant funds, Renewable Identification Numbers and Low Carbon Fuel Standard Revenues, and other locally generated revenue. The adjusted system -wide farebox recovery ratio targets for RTA are 16.72 percent, 16.81 percent, and 17.81 percent for FY 2019, FY 2020, and FY 2021, respectively. The non -fare revenues raise the farebox recovery ratio well beyond the minimum standard in FY 2019 and FY 2020, with adjusted farebox recovery ratios of 24.77 percent and 20.07 percent, respectively. In FY 2021, RTA failed to meet the adjusted system -wide farebox recovery ratio target, achieving a farebox recovery rate of 9.80 percent; however, AB 90 prohibits the imposition of penalties on a transit operator that does not maintain the required ratio of fare revenues to operating cost during FY 2019-20 or FY 2020-21. Michael Baker International - 31 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 Section V Review of Operator Functions This section provides a review of various functions within RTA. The review highlights accomplishments, issues, and challenges that were determined during the audit period. The following functions were reviewed: • Operations/Contract Operations • Maintenance • Administration and Management • Planning • Marketing • Human Resources/Risk Management • Procurement • Information Technology Operations/Contract Operations RTA Mission Statement The Riverside Transit Agency, Riverside County's multi -modal transportation provider, shall provide for a variety of transportation needs in a cost-effective and efficient manner for all the residents of our member communities. The Agency is committed to providing safe, reliable, courteous, accessible, and user-friendly services to our customers. The Operations and Contract Operations Departments are responsible for delivering transit service for all the Agency's fixed- route and demand- response operations, both directly and via private contractors. These departments comprise the coach operators, dispatchers, supervisors, and managers who provide the daily interface between RTA and the riding public. Operations and Contract Operations work to maintain scheduled service, manage contracted services, adhere to regulatory requirements, and improve labor relations. The Operations and Contract Operations Departments prepare key performance indicators (KPI) reports that track indicators on a system -wide level, including discipline violations, overtime hours, accidents, and lost service hours. Each KPI is reported at least on a monthly basis. Major accomplishments during the audit period include: • Continued Cooperative Agreements with other transit operators in the region and RCTC for Michael Baker International - 32 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 transit station facilities and the operation and maintenance of the Advanced Traveler Information System. • Transitioned contracted fixed -route commuter service to directly operated service. • Extended all pass agreements with colleges and universities an additional year, allowing additional time for ridership to normalize before reassessing new contract terms. • Entered into a formal bus bridge service agreement with Metrolink to formalizing the billing process that was already being utilized. As impacts from the novel coronavirus (COVID-19) started to be realized in California, a state of emergency was declared on March 4, 2020. Subsequently, a mandatory statewide shelter -in -place order was implemented on March 19. In response to the order and pursuant to Centers for Disease Control and Prevention (CDC) protocols, RTA enacted many new protocols. Nearly all departments within the Agency were affected in some way by the impacts of COVID-19; the Operations Department was impacted most directly. In response to the COVID-19 pandemic and the immediate drastic decline in ridership that RTA experienced as a result of the stay-at-home order, RTA began work on a virus response plan to help guide decision -making on service levels and Agency protocols during the pandemic. As part of this plan, Sunday service levels were implemented seven days a week starting in April 2020. RapidLink Gold Line service was suspended. Service in this corridor is available to riders via Route 1, which operates along the same alignment as the Gold Line. At the time of publication of this audit, no reinstatement date has been determined. An emergency bid was used so that operators could pick new work assignments resulting from the schedule adjustment. Regular communications between RTA staff and Amalgamated Transit Union 1277 members occurred throughout the pandemic to ensure that operator and maintenance staff needs were being met. As a result of these communications, RTA staff changed extraboard policies to allow extraboard operators to remain at home on stand-by, rather than requiring operators to stand by at the RTA facility as had been required prior. In an effort to maintain social distancing measures, a 10 -passenger limit was placed on all 40 -foot buses. In the event that demand exceeded this limit, operators informed dispatchers and a shadow vehicle was deployed, if an operator was available, to pick up passenger overflow. Automated passenger counter (APC) and automated vehicle locator (AVL) software was utilized by dispatch to monitor live vehicle loads and proactively dispatch vehicles when possible. Header signage and exterior audio announcements were used to inform customers waiting at bus stops if a bus had reached capacity. In addition to increased cleaning supplies and access to personal protective equipment (PPE), RTA made further efforts to stop the spread of the virus through the adoption of a one -bus -one - operator policy. Electromagnetic cleaners were also routinely used on vehicles and throughout RTA facilities to disinfect high -touch surfaces. Additionally, new air filters were installed on vehicles and in facilities for air purification and sanitation purposes. Michael Baker International - 33 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 In 2021, RTA, in partnership with UCR and the City of Riverside, completed a mobility hub construction project near the intersection of Canyon Crest and University. The project included the installation of new sawtooth bus bays, as well as passenger amenities including bus shelters, benches, and trash cans. In FY 2019, RTA experienced a 1.33 percent increase in ridership. However, any potential ridership growth trends were derailed with the onset of the COVID-19 pandemic; in FY 2020, RTA's system- wide ridership exhibited a 19.78 percent decrease. Even more severe impacts to ridership were seen in FY 2021 when RTA's system -wide ridership decreased by 56.78 percent. A great deal of the loss of ridership can be attributed to local colleges and universities switching to virtual learning, drastically reducing the number of faculty, staff, and students which historically have comprised such a large portion of RTA's overall ridership. In December 2020, the RTA Board of Directors approved RTA's ZEB Plan. The plan details how RTA plans to transition to an all -hydrogen fuel cell electric bus fleet, a direction that was informed by a system -wide analysis of the feasibility of operating electric versus hydrogen -powered vehicles in the Agency's western Riverside County service area in response to the California Air Resources Board mandate. RTA expects its first hydrogen fuel cell vehicles to be in fixed -route service in 2026 and plans to phase out its current CNG vehicle fleet in response to the mandate. Additionally, in 2020, RTA purchased 12 Chevy Bolt vehicles and the necessary charging equipment to be used as support vehicles. It should be noted that, unlike many transit operators in the country at this time, RTA has not faced large-scale operator shortages. At the onset of the pandemic, there were some operators who, due to health concerns, chose to stay home and not work, using COVID-19 leave time. However, as information, PPE, and vaccines became more widely available, these operators returned to work. While some operators were given alternative duties, such as bus servicers/cleaners, RTA did not lay off any operators due to lack of available work. Michael Baker International - 34 Triennial Performance Audit of Riverside Transit Agency - FYs 2019-2021 Operations Performance Tables V-1, V-2, and V-3 provide several indicators based on NTD data (Form 30) of operations performance for RTA's directly operated fixed route, contracted fixed route, and contracted demand - response services, respectively. Table V-1 Vehicle Operations Performance Indicators Directly Operated Fixed Route Operations Data Base Year FY 2018 Audit Review Period % Change FY 2018 - FY 2021 FY 2019 FY 2020 FY 2021 Cost for Operations $24,307,423 $26,425,133 $27,659,736 $25,714,321 5.8% Operator Salaries and Wages $11,052,357 $14,551,539 $15,064,453 $13,227,788 19.7% Operator Pay Hours 569,969 585,490 580,164 469,228 -17.7% Vehicle Service Hours (VSH) 454,084 477,158 455,048 335,063 -26.2% Vehicle Service Miles (VSM) 6,414,376 6,634,855 6,398,536 4,999,256 -22.1% Total Vehicle Hours 491,436 519,653 494,005 390,613 -20.5% Total Vehicle Miles 7,439,877 7,755,931 7,506,116 6,425,390 -13.6% Unlinked Passenger Trips 6,733,159 6,825,680 5,506,023 2,468,106 -63.3% Passenger Miles 52,106,284 50,940,523 42,340,612 18,775,771 -64.0% Preventable Accidents 75 77 98 113 50.7% Preventable Accidents per 100,000 miles 1.01 0.99 1.31 1.76 74.3% Performance Indicators Veh Ops Cost per VSH $53.53 $55.38 $60.78 $76.74 43.4% Veh Ops Cost per VSM $3.79 $3.98 $4.32 $5.14 35.7% Veh Ops Cost per Passenger Trip $3.61 $3.87 $5.02 $10.42 188.6% Veh Ops Cost per Passenger Mile $0.47 $0.52 $0.65 $1.37 193.6% Average Wage per Operator Pay Hour $19.39 $24.85 $25.97 $28.19 45.4% VSH per Operator Pay Hour 0.80 0.81 0.78 0.71 -10.4% VSM per Operator Pay Hour 11.25 11.33 11.03 10.65 -5.3% Service Miles per Service Hour 14.13 13.90 14.06 14.92 5.6% Service Hours / Total Hours 92.4% 91.8% 92.1% 85.8% -7.2% Service Miles / Total Miles 86.2% 85.5% 85.2% 77.8% -9.8% Avg Psgr Miles per Psgr Trip 7.74 7.46 7.69 7.61 -1.7% Passengers per Revenue Vehicle Hour 14.83 14.30 12.10 7.37 -50.3% Prev Accidents per 100,000 Total Miles 1.01 0.99 1.31 1.76 74.5% On -Time Performance 90.0% 90.0% 91.0% 90.0% 0.0% Percentage Change Consumer Price Index (CPI-AII) 3.4% 2.5% 2.0% 8.1% Source: NTD Reports Michael Baker International - 35 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 Operations costs for directly operated fixed -route service increased 5.8 percent over the triennial period. Vehicle service hours per operator pay hour decreased by 10.4 percent. Vehicle service miles per operator pay hour decreased by 5.3 percent. Service hours per total hour and service miles per total mile decreased by 7.2 percent and 9.8 percent, respectively. Passenger miles per passenger trip, a reflection of average passenger trip length, decreased by 1.7 percent, from 7.74 miles to 7.61 miles. The number of directly operated fixed -route preventable accidents per 100,000 miles was 1.01 in FY 2018, 0.99 in FY 2019, 1.31 in FY 2020, and 1.76 in FY 2021 for a net increase of 74.5 percent over the audit period. On -time performance (OTP) remained stable during the audit period with little variance. In FY 2018 and FY 2019, OTP for directly operated fixed -route service was 90 percent, in FY 2020 there was a slight increase to 91 percent, and in FY 2021 OTP returned to 90 percent. The OTP target of 85 percent for directly operated fixed -route service was met for all three years of the audit period. Michael Baker International - 36 Triennial Performance Audit of Riverside Transit Agency - FYs 2019-2021 Table V-2 Vehicle Operations Performance Indicators Contracted Fixed Route Operations Data Base Year FY 2018 Audit Review Period % Change FY2018- FY 2021 FY 2019 FY 2020 FY 2021 Cost for Operations $10,648,071 $11,297,691 $10,829,779 $8,898,168 -16.4% Vehicle Service Hours (VSH) 206,028 209,163 193,171 128,888 -37.4% Vehicle Service Miles (VSM) 3,437,415 3,424,493 3,118,952 2,025,881 -41.1% Total Vehicle Hours 254,043 254,761 231,957 153,294 -39.7% Total Vehicle Miles 4,844,391 4,725,228 4,233,057 2,699,547 -44.3% Unlinked Passenger Trips 1,434,349 1,465,889 1,187,470 451,701 -68.5% Passenger Miles 14,335,956 14,664,160 12,777,998 5,331,529 -62.8% Preventable Accidents 4 22 22 22 450.0% Performance Indicators Veh Ops Cost per VSH $51.68 $54.01 $56.06 $69.04 33.6% Veh Ops Cost per VSM $3.10 $3.30 $3.47 $4.39 41.8% Veh Ops Cost per Passenger Trip $7.42 $7.71 $9.12 $19.70 165.4% Veh Ops Cost per Passenger Mile $0.74 $0.77 $0.85 $1.67 124.7% Service Miles Per Service Hour 16.68 16.37 16.15 15.72 -5.8% Service Hours / Total Hours 81.1% 82.1% 83.3% 84.1% 3.7% Service Miles / Total Miles 71.0% 72.5% 73.7% 75.0% 5.8% Avg Psgr Miles per Psgr Trip 9.99 10.00 10.76 11.80 18.1% Passengers per Revenue Vehicle Hour 6.96 7.01 6.15 3.50 -49.7% Prev Accidents per 100,000 Total Miles 0.08 0.47 0.52 0.81 887.0% On -Time Performance 91.0% 88.0% 87.0% 93.0% 2.2% Percentage Change Consumer Price Index (CPI-AII) 3.4% 2.5% 2.0% 8.1% Sources: NTD Reports, Contractor Performance Indicator, Monthly, and Preventable Accidents Reports Vehicle operations costs for contracted fixed -route service decreased by 16.4 percent during the audit period, which was due in part to RTA transitioning contracted fixed -route commuter service to directly operated service. By contrast, CPI increased by 8.1 percent during the audit period. Operations cost per vehicle service hour and cost per vehicle service mile increased by 33.6 percent and 41.8 percent, respectively. Cost per passenger trip and cost per passenger mile increased drastically, by 165.4 percent and 124.7 percent, respectively. Michael Baker International - 37 Triennial Performance Audit of Riverside Transit Agency - FYs 2019-2021 The number of contracted fixed -route preventable accidents per 100,000 miles was 0.08 in FY 2018, 0.47 in FY 2019, 0.52 in FY 2020, and 0.81 in FY 2021 for a net increase of 887 percent over the audit period. Over the audit period the OTP fluctuated slightly, averaging 89.3 percent. The OTP target of 90 percent established for the contract operators was not met in FY 2019 and FY 2020 and was exceeded in FY 2021. Table V-3 Vehicle Operations Performance Indicators Dial -A -Ride Demand Response Operations Data Base Year FY 2018 Audit Review Period % Change FY 2018 - FY 2021 FY 2019 FY 2020 FY 2021 Cost for Operations $7,581,264 $9,066,757 $8,666,223 $4,678,171 -38.3% Vehicle Service Hours (VSH) 211,174 193,706 145,747 63,764 -69.8% Vehicle Service Miles (VSM) 3,425,117 3,317,602 2,491,982 1,181,749 -65.5% Unlinked Passenger Trips 415,902 406,083 283,642 95,627 -77.0% Passenger Miles 4,052,981 3,588,828 2,325,148 1,088,666 -73.1% Preventable Accidents 40 60 30 10 -75.0% Performance Indicators Veh Ops Cost per VSH $35.90 $46.81 $59.46 $73.37 104.4% Veh Ops Cost per VSM $2.21 $2.73 $3.48 $3.96 78.8% Veh Ops Cost per Psgr Trip $18.23 $22.33 $30.55 $48.92 168.4% Veh Ops Cost per Psgr Mile $1.87 $2.53 $3.73 $4.30 129.7% Service Miles Per Service Hour 16.22 17.13 17.10 18.53 14.3% Passengers per Revenue Vehicle Hour 1.97 2.10 1.95 1.50 -23.9% Passenger Miles per Passenger Trip 9.75 8.84 8.20 11.38 16.8% Prev Accidents per 100,000 Total Miles 1.17 1.81 1.20 0.85 -27.5% On -Time Performance 89.0% 90.0% 90.0% 91.0% 2.2% Percentage Change Consumer Price Index (CPI-AII) 3.4% 2.5% 2.0% 8.1% Sources: NTD Reports, Contractor Performance Indicator, Monthly, and Preventable Accidents Reports Vehicle operations costs for DAR service decreased by 38.3 percent during the audit period. Operations cost per vehicle service hour and cost per vehicle service mile increased by 104.4 percent Michael Baker International - 38 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 and 78.8 percent, respectively. Cost per passenger trip also increased by 168.4 percent, while cost per passenger mile increased by 129.7 percent. The number of contracted DAR preventable accidents per 100,000 miles was 1.17 in FY 2018, 1.81 in FY 2019, 1.20 in FY 2020, and 0.85 in FY 2021 for a net decrease of 27.5 percent over the audit period. OTP increased by 2.2 percent from 89 percent in FY 2018 to 91 percent in FY 2021. The OTP target of 90 percent established for the contract operators was met during the audit period. Review of Methodology for Collection and Reporting Operations Data Data collection and reporting of operations data, including hours and miles of service, are performed by several departments within RTA. For Dial -A -Ride operations, Trapeze dispatch and scheduling software is utilized, which ensures the proper calculation of revenue service hours and miles. Initially, hours and miles are estimated by the Planning Department based on the service changes that occur three times per year. The Operations Department measures schedule variances. RTA's primary source of ridership and fare revenue data for directly operated and contracted services is the GFI fareboxes, which show passengers by fare type. Ridership counts from the APCs are used to validate the farebox data. For directly and contracted operated fixed -route service, OTP is measured using a Global Positioning Systems (GPS) based AVL system. Since the AVL system has more observations, it is believed to be moreaccurate. Trapeze is used to monitor Dial -A -Ride OTP. RTA staff and the contractors are each responsible for collecting and handling cash from fares. For fixed route bus services, the cash reported is compared to what is projected by the GFI farebox. For DAR service, the cash reported is compared to paper slips. The Finance Department reconciles the actual and expected revenues. In the event of a discrepancy with a contractor, RTA charges the contractor the higher revenue number. RTA also conducts surprise in-house audits to maintain staff accountability. Fare revenue and ridership go into the Quarterly Comprehensive Route Performance Report produced by Finance. The Contract Operations Department oversees contracted transportation services for performance indicators, including OTP, miles between road calls, DAR no-shows, and DAR call abandonment rates. Maintenance The Maintenance Department maintains the directly operated fixed -route fleet. CHP and Federal Motor Vehicle Safety Standards recommendations and requirements are being met or exceeded. For directly operated buses, the current Preventative Maintenance Vehicle Inspections (PMVIs) are due every 6,000 to 9,000 miles or as per manufacturers' recommendations during thewarranty period up to 12,000 miles. Each bus that is out of warranty is due for inspection every 10,000 vehicle miles. The inspections are conducted within a variance of 500 miles from the target mileage. Beginning in FY 2020, vehicle revenue mileage decreased drastically due to the service reductions made in response to the pandemic. To ensure all vehicles were still being properly maintained and monitored, RTA's Maintenance Department switched from a mileage -based PMI schedule to a day - Michael Baker International - 39 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 based schedule with inspections taking place every 90 days. These inspections were conducted using US Department of Transportation safety inspection guidelines. The Maintenance Department can perform most service and repairs, including body work. RTA reviews the PMVI for contracted buses on a weekly basis to ensure quality control. Contractors perform preventative maintenance on each vehicle in accordance with the contract, OEM specifications, and/or prescribed bylaw. If any mechanical defect is found, the vehicle is "red -tagged" and pulled out of service. The contractor uses Zonar for daily vehicle inspections and to identify maintenance issues. Non -revenue licensed vehicles (relief, staff, and service vehicles) are inspected every 7,500 miles in accordance with OEM recommendations and/or as prescribed by law. In response to the COVID-19 pandemic, the Maintenance Department enacted new sanitation protocols in compliance with CDC guidelines. The new protocol includes the sanitation of vehicles using an electromagnetic sprayer and disinfectants on -board each vehicle. The vehicles are sealed with a timestamp that indicates at what time the vehicle will be done disinfecting and is ready to return to service. RTA increased the number of servicers to be able to accommodate both mid -day vehicle sanitation and nightly sanitation. Clear operator barriers were installed on all vehicles to shield operators from unnecessary contact with the public. Vehicle and facility air filters were replaced, and hand sanitizer dispensers were installed on all vehicles. Maintenance staff was also responsible for the sanitation of the facility and for maintaining RTA's PPE and sanitation supplies inventory. In November 2020, Maintenance began using a new maintenance tracking software called Infor, which replaced the previous Spear Technologies platform. While many Infor features are similar in function and process to the previous system, including generating work orders, logging PMI data, accessing and updating parts inventory information, generating purchase orders, and running reports, one notable improvement is the ability for maintenance staff to utilize tablets for data entry. Previously, maintenance staff utilized two stationary kiosks to log vehicle maintenance data. The new tablet system allows staff the convenience of entering vehicle data at their workstation as well as the ability to take and log photographs. The Riverside maintenance facility has six service bays and one bus wash bay. Portable lifts are utilized. The Hemet facility has three service bays. There are two fast -fill CNG fueling pumps at the Riverside facility and two fast -fill CNG pumps at the Hemet facility. The Maintenance Department prepares a monthly maintenance standards and performance indicators report that tracks indicators including average miles per gallon, attendance, overtime, OSHA 300 log, maintenance expenses, cost per mile, vehicle availability, daily average of buses down for parts, inventory value, training hours, road calls, miles between road calls, and inspections. Some data is oriented by base facility and is tabulated for each base such as miles per gallon, road calls, and headcounts. The remaining indicators are tracked at a system -wide level. Maintenance staff forecast vehicle replacement needs by mileage. Mileage and age for each individual vehicle are tracked in four separate reports according to service type: directly operated Michael Baker International - 40 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 fixed -route buses, contracted fixed -route buses, DAR vehicles, and other support/staff vehicles. It is the joint responsibility of Maintenance Department staff and the Parts Department to identify all potential warrantable items. During their routine repair and inspection of vehicles, Maintenance Department staff will mark known parts that have failed and may be eligible for warranty claims. The Parts Department then determines if an item is eligible to be processed for a warranty claim. The storeroom supervisor gathers all supporting documentation and submits a warranty request in to the vendor. The storeroom supervisor tracks warranty recoveries by month. Major accomplishments of the Maintenance Department during the audit period include: • Maintenance facilities passed annual CHP terminal inspections. • In light of RTA's new direction toward hydrogen fuel cell vehicles established in the ZEB Plan, previous planning efforts for a centralized operations, maintenance, and administration facility have been halted. The ZEB Plan identified that both the Riverside and Hemet facilities have room for expansion which can be utilized to accommodate the new vehicles at existing service levels. • CNG control panel updates at both the Riverside and Hemet facilities. Accompanying new software allows maintenance staff to understand the cause of alarm activations remotely. The Maintenance Department experienced turnover in the director position during the audit period. In May 2021, the former maintenance manager took on the director role. Under new directorship, the Maintenance Department continues efforts to update standard operating procedures for all tasks performed, including vehicle sanitation and cleaning procedures, and continues to cross -train staff across all tasks. There are three levels of mechanics categorized as A, B, and C. The C category is an entry-level position. Mechanic applicants undergo a hands-on and written test for qualifications. Some mechanics are certified according to specialty and carry Automotive Service Excellence certification. Maintenance Performance Tables V-4, V-5, and V-6 show the trends in maintenance performance based on NTD data (Form 30) for RTA directly operated fixed route, contracted fixed route, and contracted demand -response services, respectively. Michael Baker International - 41 Triennial Performance Audit of Riverside Transit Agency - FYs 2019-2021 Table V-4 Maintenance Performance Indicators Directly Operated Fixed Route Maintenance Data Base Year FY 2018 Audit Review Period % Change FY 2018 - FY 2021 FY 2019 FY 2020 FY 2021 Cost for Maintenance $8,759,097 $9,639,459 $10,190,014 $10,093,835 15.2% Maintenance Pay Hours 136,871 142,974 150,313 138,689 1.3% Total Vehicle Hours 491,436 519,653 494,005 390,613 -20.5% Total Vehicle Miles 7,439,877 7,755,931 7,506,116 6,425,390 -13.6% Active Vehicles 145 145 145 145 0.0% Peak Vehicles 115 119 121 115 0.0% Performance Indicators Maintenance Cost per Veh Hour $17.82 $18.55 $20.63 $25.84 45.0% Maintenance Cost per Veh Mile $1.18 $1.24 $1.36 $1.57 33.4% Maintenance Cost per Active Veh $60,407 $66,479 $70,275 $69,612 15.2% Veh Hours per Maint Pay Hour 3.59 3.63 3.29 2.82 -21.6% Veh Miles per Maint Pay Hour 54.36 54.25 49.94 46.33 -14.8% Veh Hours per Active Vehicle 3,389 3,584 3,407 2,694 -20.5% Veh Miles per Active Vehicle 51,309 53,489 51,766 44,313 -13.6% Spare Ratio 26.1% 21.8% 19.8% 26.1% 0.0% Miles Between Road Calls 27,969 23,503 22,012 23,886 -14.6% Percentage Change Consumer Price Index (CPI-AII) 3.4% 2.5% 2.0% 8.1% Source: NTD Reports, Miles Between Road Call Reports Maintenance costs for directly operated fixed -route services increased from $8.7 million in FY 2018 to $10 million in FY 2021, a 15.2 percent increase. The increase in cost parallels the 8.1 percent growth in the CPI. Maintenance costs per vehicle hour and per vehicle mile increased by 45 percent and 33.4 percent, respectively. Maintenance cost per active vehicle increased by 15.2 percent. Vehicle hours per maintenance pay hour and vehicle miles per maintenance pay hour, functions of maintenance productivity, decreased by 21.6 percent and 14.8 percent, respectively. Vehicle hours per active vehicle and vehicle miles per active vehicle decreased by 20.5 percent and 13.6 percent, respectively. Total directly operated fixed -route vehicle miles between road calls showed a 14.6 percent decrease during the audit period from 27,969 miles in FY 2018 to 23,886 miles in FY 2021. The overall percentage change in vehicle spare ratio over the course of the audit period was zero percent; however, there were some fluctuations from year to year. The vehicle spare ratio was 26.1 percent in FY 2018, 21.8 percent in FY 2019, 19.8 percent in FY 2020, and 26.1 percent in FY 2021. The number of peak vehicles and active vehicles showed a zero percent net change over the audit period. Michael Baker International - 42 Triennial Performance Audit of Riverside Transit Agency - FYs 2019-2021 Table V-5 Maintenance Performance Indicators Contracted Fixed Route Maintenance Data Base Year FY 2018 Audit Review Period % Change FY 2018 -FY 2021 FY 2019 FY 2020 FY 2021 Cost for Maintenance $2,046,563 $2,173,322 $2,083,508 $1,712,194 -16.3% Total Vehicle Hours 254,043 254,761 231,957 153,294 -39.7% Total Vehicle Miles 4,844,391 4,725,228 4,233,057 2,699,547 -44.3% Active Vehicles 70 79 86 72 2.9% Peak Vehicles 66 67 64 41 _ -37.9% Performance Indicators Maintenance Cost per Veh Hour $8.06 $8.53 $8.98 $11.17 38.6% Maintenance Cost per Veh Mile $0.42 $0.46 $0.49 $0.63 50.1% Maintenance Cost per Active Veh $29,236 $27,510 $24,226 $23,780 -18.7% Veh Hours per Active Vehicle 3,629 3,225 2,697 2,129 -41.3% Veh Miles per Active Vehicle 69,206 59,813 49,222 37,494 -45.8% Miles Between Road Calls 18,923 19,771 27,487 22,310 17.9% Spare Ratio 6.1% 17.9% 34.4% 75.6% 1147.6% Percentage Change Consumer Price Index (CPI-AII) 3.4% 2.5% 2.0% 8.1% Sources: NTD Reports, Contractor Performance Indicator, Monthly, and Preventable Accidents Reports Maintenance costs for contracted fixed -route service decreased by 16.3 percent during the audit period. Maintenance cost per vehicle hour and per vehicle mile increased by 38.6 percent and 50.1 percent, respectively. Maintenance cost per active vehicle decreased by 18.7 percent. Vehicle hours per active vehicle and vehicle miles per active vehicle decreased by 41.3 percent and 45.8 percent, respectively. Michael Baker International - 43 Triennial Performance Audit of Riverside Transit Agency - FYs 2019-2021 Table V-6 Maintenance Performance Indicators Demand Response Maintenance Data Base Year FY 2018 Audit Review Period % Change FY 2018 - FY 2021 FY 2019 FY 2020 FY 2021 Cost for Maintenance $4,426,093 $3,211,947 $2,257,085 $1,890,007 -57.3% Total Vehicle Hours (1) 255,740 230,972 176,371 78,191 -69.4% Total Vehicle Miles (1) 4,352,588 4,078,022 3,102,598 1,486,640 -65.8% Active Vehicles 113 126 126 110 -2.7% Peak Vehicles 112 117 113 40 -64.3% Performance Indicators Maintenance Cost per Veh Hour $17.31 $13.91 $12.80 $24.17 39.7% Maintenance Cost per Veh Mile $1.02 $0.79 $0.73 $1.27 25.0% Maintenance Cost per Active Veh $39,168 $25,491 $17,913 $17,181 -56.1% Veh Hours per Active Vehicle 2,263 1,833 1,400 711 -68.6% Veh Miles per Active Vehicle 38,518 32,365 24,624 13,515 -64.9% Miles Between Road Calls 77,844 127,600 92,296 62,197 -20.1% Spare Ratio 0.9% 7.7% 11.5% 175.0% 19500% Percentage Change Consumer Price Index (CPI-AII) 3.4% 2.5% 2.0% 8.1% Sources: NTD Reports, Contractor Performance Indicator, Monthly, and Preventable Accidents Reports (1) Total Vehicle Hours and Miles exclude Supplemental Taxi service. Maintenance costs for DAR service decreased by 57.3 percent during the audit period, according to the NTD. Consequently, maintenance cost per vehicle hour and per vehicle mile increased by 39.7 percent and 25 percent, respectively. Maintenance cost per active vehicle decreased by 56.1 percent. Vehicle hours per active vehicle and vehicle miles per active vehicle decreased by 68.6 percent and 64.9 percent, respectively. Miles between road calls decreased by 20.1 percent from 77,844 in FY 2018 to 62,197 in FY 2021. The vehicle spare ratio increased from 0.9 percent to 175 percent during the audit period, as the number of peak vehicles decreased by 72 while the number of active vehicles decreased by only 3 from FY 2018 to FY 2021. Administration and Management Functions of various administrative departments include human resources, labor relations, risk management, marketing, information technology, finance/accounting, and training. Each year, the department heads collaboratively develop overarching Agency goals. Each department then forms specific department goals with identified activities and measurements. Performance for each department goal is tracked and reported quarterly with an annual presentation to the RTA Board. Some of the identified goals include increased ridership, maximizing cost efficiencies, and continuous service improvements. Major accomplishments by administration and management during the audit period include Michael Baker International - 44 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 continued use of innovative revenue -generating practices to offset declining funding. Examples of such programs include leasing of facilities, interest income, and commercial sale of CNG fuel at the RTA facility in Hemet. Many of these locally generated revenue strategies are included in the farebox recovery ratio enabled under RCTC policy and state legislation (Senate Bill [SB] 508). The annual budgeting process for RTA commences with a kickoff meeting with RCTC in February. Projected funding for the upcoming fiscal year is reviewed along with revenue guidance for the SRTP. An estimate of aggregate revenue sources is determined. LTF revenues are administered through RCTC and in conjunction with the calculation of and comparison against RTA's blended farebox ratio recovery target. RTA utilizes zero -based budgeting, which is a method of budgeting in which all expenses must be justified for each new period. The process starts from a "zero base," and every function within the Agency is analyzed for its needs and costs. Working within the total revenue projected, each department provides an estimate for the draft budget. The RTA Budget and Finance Committee convenes in early May to review the draft budget before the RTA Board adopts the final budget in late May. Once the budget is adopted for the fiscal year, the performance against budget is reviewed monthly. RTA's expenditures generally come in under budget. Following the completion of the annual fiscal audit, budget surpluses may be rolled over into the following fiscal year, excluding any revenues that must be returned to its source. In February 2018, prior to the audit period, the RTA Board authorized staff to enter into a second multi -year contract with GHI Energy LLC (GHI) for the Agency's natural gas commodity requirements for conversion to CNG. The new contract commenced August 1, 2018. GHI provided a fixed 10 percent discount off the Southern California Gas Co. commodity cost from August 2018 through June 2021. The Agency's financial software license is renewed annually. The RTA Board has authorized that all legacy software be grandfathered. This measure ensures more transparency with the inclusion of licensing fees and life cycle costs. At the beginning of the audit period, RTA began efforts to transition existing desktop -based financial software to a cloud -based version of the same program. These efforts were temporarily placed on hold to allow the Information Technology (IT) Department to focus on other more pressing initiatives related to the COVID-19 pandemic. RTA plans to continue this effort. A Federal Transit Administration (FTA) triennial review was conducted in 2019 and involved site visits on October 3 and 4, 2019. The review examined compliance in 21 areas; zero deficiencies were found in any of the FTA requirement areas. Grants Management RTA tracks grant status through the Capital Project Balances Report. The report includes federal grants (FTA Sections 5307, 5309, 5316, 5317, 5339), state grants (LTF, STA, Proposition 1-B, LCTOP), and other grant programs. The report tracks grant status by project. Projects are updated based on activities which occurred during the quarter. Quarterly updates are made to project completion dates, major Michael Baker International - 45 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 milestones achieved, and projected milestones for the coming quarter. Additionally, the report tracks total allocation of funds by funding source, funds spent, and remaining funds for each project. These provisions enable RTA to stay abreast of outstanding grant monies and to spend down balances of its various grant allocations. In addition, RTA reviews relevant grant opportunities, which get presented quarterly at the Management Review meeting. The SRTP tracks upcoming grant requests via the Summary of Funds Requested report. The report tracks requested funding at the project level. Each project lists funding requests of federal grants (FTA Sections 5307, 5309, 5316, 5317), state grants (LTF, STA, Proposition 1-B), and other grant programs. An appendix to the report provides project description and project justification for capital projects. FY 2019 was the first year that RTA has been able to program projects under the SB 1 State of Good Repair Program as per the guidance of RCTC. FY 2020 was the first year that RTA was able to program SB 1 funds toward service. During the audit period, a grants manager position was created. Duties of this position include seeking out available grant opportunities RTA may be eligible for, presenting eligible grant opportunities to the RTA executive team, requesting compatible project ideas from RTA departments, and applying for grant opportunities RTA wishes to pursue. Additionally, this position plays a critical role in facilitating coordination with partnering organizations on grant funding pursuits that require external support. The success of this coordination and cooperation with external parties was evident in a $31.2 million grant award from the State of California's Strategic Growth Council to integrate transit, urban greening, and affordable housing in Riverside's Eastside neighborhood. Transit initiatives made possible through this funding include the future construction of the Vine Street Mobility Hub project, providing over 6,000 transit passes available to Entrada and Eastside residents, and access to travel training programs. RTA plans to continue seeking out future public -private partnership opportunities that support enhanced transit service and improved transit access to the community. Administrative Performance Tables V-7, V-8, and V-9 show the trends in administration performance based on NTD data (Form 30) for RTA directly operated fixed route, contracted fixed route, and contracted demand -response services, respectively. Michael Baker International - 46 Triennial Performance Audit of Riverside Transit Agency - FYs 2019-2021 Table V-7 Administration Performance Indicators Directly Operated Fixed Route Administrative Data Base Year FY 2018 Audit Review Period % Change FY 2018 -FY 2021 FY 2019 FY 2020 FY 2021 Administration Costs $15,373,382 $16,687,666 $18,630,884 $18,624,613 21.1% Administration Pay Hours 103,020 113,715 91,699 73,842 -28.3% Casualty & Liability Costs $2,644,621 $3,040,751 $3,370,118 $4,650,640 75.9% Vehicle Service Hours (VSH) 454,084 477,158 455,048 335,063 -26.2% Vehicle Service Miles (VSM) 6,414,376 6,634,855 6,398,536 4,999,256 -22.1% Unlinked Passenger Trips 6,733,159 6,825,680 5,506,023 2,468,106 -63.3% Passenger Miles 52,106,284 50,940,523 42,340,612 18,775,771 -64.0% Performance Indicators Admin Cost per VSH $33.86 $34.97 $40.94 $55.59 64.2% Admin Cost per VSM $2.40 $2.52 $2.91 $3.73 55.4% Admin Cost per Psgr Trip $2.28 $2.44 $3.38 $7.55 230.5% Admin Cost per Psgr Mile $0.30 $0.33 $0.44 $0.99 236.2% Casualty & Liability Costs per VSM $0.41 $0.46 $0.53 $0.93 125.6% VSH per Admin Pay Hour 4.41 4.20 4.96 4.54 2.9% VSM per Admin Pay Hour 62.26 58.35 69.78 67.70 8.7% Percentage Change Consumer Price Index (CPI-AII) 3.4% 2.5% 2.0% 8.1% Source: NTD Reports As shown in the NTD, administrative costs allocated to directly operated fixed -route service increased for the period between FYs 2018 and 2021. The increase in administration costs was primarily due to the 75.9 percent increase, from $2.64 million to $4.6 million, in casualty and liability costs during the audit period. As a result of the increase in costs and decrease in ridership, performance indicators measured by cost per vehicle hour, per vehicle mile, and per passenger trip showed significant increases. Michael Baker International - 47 Triennial Performance Audit of Riverside Transit Agency - FYs 2019-2021 Table V-8 Administration Performance Indicators Contracted Fixed Route Administration Data Base Year FY 2018 Audit Review Period % Change FY 2018 - FY 2021 FY 2019 FY 2020 FY 2021 Cost for Administration $2,925,366 $3,185,209 $3,448,905 $2,899,733 -0.9% Vehicle Service Hours (VSH) 206,028 209,163 193,171 128,888 -37.4% Vehicle Service Miles (VSM) 3,437,415 3,424,493 3,118,952 2,025,881 -41.1% Unlinked Passenger Trips 1,434,349 1,465,889 1,187,470 451,701 -68.5% Passenger Miles 14,335,956 14,664,160 12,777,998 5,331,529 -62.8% Performance Indicators Admin Cost per VSH $14.20 $15.23 $17.85 $22.50 58.4% Admin Cost per VSM $0.85 $0.93 $1.11 $1.43 68.2% Admin Cost per Psgr Trip $2.04 $2.17 $2.90 $6.42 214.8% Admin Cost per Psgr Mile $0.20 $0.22 $0.27 $0.54 166.5% Percentage Change Consumer Price Index (CPI-AII) 3.4% 2.5% 2.0% 8.1% Source: NTD Reports Administration costs for contracted fixed -route service decreased by 0.9 percent during the audit period. Administration cost per vehicle hour and per vehicle mile increased by 58.4 percent and 68.2 percent, respectively; administrative cost per passenger trip and per passenger mile increased by 214.8 percent and 166.5 percent, respectively. Table V-9 Administration Performance Indicators Demand Response Administration Data Base Year FY 2018 Audit Review Period % Change FY 2018 - FY 2021 FY 2019 FY 2020 FY 2021 Cost for Administration $1,638,169 $2,206,283 $2,017,913 $2,464,326 50.4% Vehicle Service Hours (VSH) 211,174 193,706 145,747 63,764 -69.8% Vehicle Service Miles (VSM) 3,425,117 3,317,602 2,491,982 1,181,749 -65.5% Unlinked Passenger Trips 415,902 406,083 283,642 95,627 -77.0% Passenger Miles 4,052,981 3,588,828 2,325,148 1,088,666 -73.1% Performance Indicators Admin Cost per VSH $7.76 $11.39 $13.85 $38.65 398.2% Admin Cost per VSM $0.48 $0.67 $0.81 $2.09 336.0% Admin Cost per Psgr Trip $3.94 $5.43 $7.11 $25.77 554.3% Admin Cost per Psgr Mile $0.40 $0.61 $0.87 $2.26 460.0% Percentage Change Consumer Price Index (CPI-AII) 3.4% 2.5% 2.0% 8.1% Source: NTD Reports Michael Baker International - 48 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 Administration costs for DAR service increased by 50.4 percent during the audit period. Combined with decreases in service hours and miles, and ridership, administration cost per vehicle service hour, per vehicle service mile, per passenger trip, and per passenger mile increased significantly. Planning The Planning Department develops short- and long-range plans and programs, including the SRTP and Comprehensive Operations Analysis. The SRTP is prepared by the Planning Department on a regular basis and serves as RTA's primary financial, planning, and service policy document. Planning is also responsible for NTD reporting, Title VI analyses, and route/trip-specific surveys. In July 2018, at the beginning of the audit period, RTA finished its Attitude and Awareness Study. The study gathered information from riders and the greater public regarding their view of RTA's existing service and desired service changes or enhancements. CommuterLink riders expressed a desire for increased service during the mid -day time period; RTA responded by adding mid -day trips on the below routes: • Route 204 (Montclair, Ontario, Jurupa Valley, Riverside) • Route 206 (Corona, Lake Elsinore, Murrieta, Temecula, Temescal Valley) • Route 208 (Murrieta, Perris, Riverside, Temecula) • Route 217 (Escondido, Temecula) Riders also indicated that two RTA routes, Route 22 and Route 27, were too long; RTA responded by splitting each of these routes into two separate routes, which improved reliability and shortened headways. As part of a comprehensive revision of weekday service, RTA was able to implement seven-day service on all local routes (excluding special weekday shuttle routes). Saturday and/or Sunday service was added on the below routes: • Route 30 Perris East loop • Route 31 Beaumont -Moreno Valley • Route 33 East Hemet • Route 42 Hemet -San Jacinto-Soboba Casino • Route 61 Temecula-Murrieta-Menifee-Perris • Route 74 San Jacinto-Hemet-Winchester-Menifee-Perris • Route 79 Hemet -Winchester -Temecula At the onset of the COVID-19 pandemic, the Agency went to Sunday -level service with peak CommuterLink trips. Then, the Planning Department began to create a service reduction plan that reduced service levels on trips that were underutilized and/or unproductive and reallocated vehicle and operator resources to higher demand trips. The Planning Department continues to consider rider feedback and monitor ridership levels on all routes, analyzing not only which routes may require additional service to accommodate demand, but also to ensure that any added service meets new Michael Baker International - 49 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 travel patterns resulting from changes in key destinations that may have occurred during the pandemic. RTA is researching microtransit options, which could be particularly advantageous for the more rural areas within the service area. RTA is moving forward with the new Vine Street Mobility Hub, one of the preferred locations identified in the city of Riverside's General Plan 2025. The project site is approximately 4.7 acres owned by RTA and is located adjacent to the Downtown Riverside Metrolink Station and the public park -and -ride lot. The design phase was completed in 2021. At the time of this audit, the RFP for construction had been released; selection of a contractor is pending. RTA is also continuing to implement the Bus Stop Amenities Strategic Policy, adopted in 2015. The policy is coupled with an inventory of all stop amenities in the service area and is used to implement a priority plan for the allocation of amenities such as benches, shelters, kiosks, signage, and lighting based on ridership and equitable distribution. A portion of the Capital Budget was set aside for the upgrade of existing bus stop amenities and another portion set aside for the installation of entirely new amenities; in FY 2020 RTA updated amenities at 30 bus stops, and installed 25 new bus shelters. RTA continues to look for partnership opportunities with private developers to ensure the transit needs of the community are considered as part of development plans and to incorporate bus stop improvements into project designs. Marketing The Marketing and Planning Departments are responsible for providing information about RTA services, programs, projects, and activities to existing and potential customers, the community at large, other agencies, and the media. The Marketing Department prepares informational materials to support transit operations, including bus schedules, how-to guides, newsletters, and fare media information. Additional marketing initiatives include: • The completion of the RTA website update project in June 2019, which included the creation of a more user-friendly mobile site, a more streamlined shopping cart, integration of a trip planner tool, and a digital Ride Guide. • Transitioned from distribution of a printed Ride Guide to a fully digital Ride Guide, which was received well by customers. • Use of several media outlets to promote and market RTA services, including billboards and radio, and email and social media. • Hired a community relations coordinator position to help continue RTA's efforts to grow a larger, more effective social media presence across multiple social media platforms including Facebook, Twitter, Instagram, YouTube, and Linkedln. • Used the Customer Information Center, social media, and print flyers to keep riders informed of safety protocols and service changes made in response to the COVID-19 pandemic. • RTA continued the "Freedom to Go" Travel Training Program to encourage capable Dial -A - Ride customers to learn how to take general bus service and for RTA to save money on DAR. This program was funded using FTA Section 5310 — Enhanced Mobility of Seniors & Individuals with Disabilities program funding. Michael Baker International - 50 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 In response to the ridership decline RTA has experienced in recent years, RTA's Marketing and Planning Departments conducted a Market Assessment and Strategic Directions Study in October 2018. The study identified strategies that can be immediately implemented to encourage additional transit ridership, including adjustments to routes, scheduling, and frequencies, to better meet rider demands. A second phase of this study was conducted in December 2021, which consisted of an on- board survey. The aim of the survey was to gain a better understanding of existing and potential rider needs in light of the COVID-19 pandemic. At the time of this audit, the results of this survey were not yet available. RTA plans to use the results to inform service planning efforts and ensure service levels, routing, and frequencies are meeting customer needs. RTA's Customer Information Center is in Hemet. As a result of decreased ridership resulting from the COVID-19 pandemic, the call center experienced a decline in call volumes. However, for those customers that were still utilizing public transit, the ability to call in to get service questions addressed was critical. RTA staff understood the vital role the call center played for riders during this time and kept the center staffed and operational throughout the entirety of the pandemic. In -person travel training was discontinued in response to the COVID-19 pandemic. During the pandemic, customer service representatives took on additional responsibilities including over -the - phone travel training and ADA application assistance and processing. RTA continues to seek out opportunities to train potential fixed -route riders who may be apprehensive about using public transit for the first time, through its call center. In addition to utilizing social media, RTA runs advertisements over local radio stations such as KGGI and Spanish radio station KRQB "La Que Buena." Ads are also broadcast over Internet radio platforms such as I -Heart Radio and Pandora. RTA also sponsors booths at local community festivals and events. During the pandemic, RTA made use of more virtual ads than they had prior and also used flyers posted on bus stop sign poles as a means to disseminate critical information to riders regarding service changes and safety protocol changes, like the FTA's mask mandate requirements. The Marketing Department handles customer complaints and comments. Most customer comments are made through the call center, although RTA also receives comments through email/online, mail, and front desk. Comments are entered into a database with the date, time, and customer contact information. Each comment that requires follow-up is assigned to a department. All comments have to be closed out with a date stamp entered into the database. Each department can run a report to see what items are still open for their specific department. Total customer complaints are provided in Table V-10. Michael Baker International - 51 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 Table V-10 Customer Complaints Customer Complaint Data Base Year Audit Review Period % Change FY 2018 -FY FY 2018 FY 2019 FY 2020 FY 2021 2021 Unlinked Passenger Trips 8,583,410 8,697,652 6,977,135 3,015,434 -64.9% Complaints 915 970 1,185 695 -24.0% Complaints per 100,000 Psgr Trips 11 11 17 23 116.2% Sources: NTD Reports, CustomerComplaints The total number of complaints decreased by 24 percent. However, the number of complaints per 100,000 passenger trips increased by 116.2 percent, from 11 in FY 2018 to 23 in FY 2021, due to the trend of significant decline in ridership during the audit period. The number of complaints did not decline at the same rate of ridership, hence the increase in this measure per number of trips. The various complaints are categorized for trend analysis. Complaint statistics for operators are monitored to encourage positive behavior by RTA staff. RTA recognizes best performers (operators with commendations and zero complaints). If three or more valid complaints are found against a specific coach operator in a quarter such as for rudeness or passing up a rider, the driver may be subject to corrective action including additional training, coaching, counseling, or ride-alongs. Human Resources and Risk Management The Human Resources Department and Risk Management Department fall under the purview of the chief administrative services officer. Human Resources recruits new hires for the Agency, including providing initial assessment and screening tests. Human Resources is also responsible for worker pay and benefits, and certain labor issues. During the audit period the Agency saw an increase in operator salaries and wages of 19.7 percent. Other maintenance salaries and wages increased 24.7 percent during the audit period from $606,000 in FY 2018 to FY $755,00 in FY 2021. However, operator labor hours decreased by 17.7 percent while maintenance labor hours increased nominally by 1.3 percent. Directly operated services are provided by both represented and non -represented employees. All RTA drivers and maintenance personnel, excluding management, supervisory, professional, and confidential employees, are represented by the Amalgamated Transit Union Local 1277. All work performed on buses that seat 30 or more passengers must be performed by union employees. Contracted fixed -route Empire Transportation employees are represented by the Teamsters Union effective July 2011. Paratransit employees are represented by the International Association of Sheet Metal, Air, Rail, and Transportation Workers Union. This representation began in 2013. RTA administrative employees are not represented. In addition, the following trends in fringe benefits costs and liability costs were identified from RTA NTD reports: Michael Baker International - 52 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 • Directly operated fixed -route fringe benefit costs decreased by 15.8 percent during the audit period, from $13.9 million in FY 2018 to $11.7 million in FY 2021. • Directly operated fixed -route casualty and liability costs nearly doubled during the audit period, for the second audit period in a row, from $2.64 million in FY 2018 to $4.6 million in FY 2021. The chief administrative services officer is supported by a human resources manager. At the time of this audit, the Human Resources Department has ten positions, three of which are vacant. The recruitment protocol for coach operators is composed of an online application that leads to the candidate screening process. In addition, candidates undergo an essential duties assessment, a physical assessment and a 75 -question Bus Operator Selection System survey. Candidates are also subject to Live Scan fingerprinting, criminal background checks, and an integrity test. Once the screening is completed, viable candidates are invited to an initial interview and a second interview. RTA utilizes the NEOGOV/governmentjobs.com public employment portal as well as Indeed, Facebook, Instagram, billboards, and local radio advertising for job postings. The Agency also holds all -day hiring events on designated Saturdays that encompass the employee screening process. Hiring events offer testing, a computer assessment, and same -day conditional offers of employment. The process averages 4.5 hours. Customer service skills and an alignment of RTA's core values are the key attributes that RTA looks for in potential employees. In -person hiring events were temporarily put on hold during the pandemic; RTA is considering additional safety protocols that can be used to minimize virus spread for future events. The new hire orientation involves Human Resources, Risk Management, and Training Departments. RTA offers several career development initiatives. One such initiative is a tuition reimbursement program for administrative employees and training opportunities for maintenance employees. In an effort to remain competitive, the Human Resources Department regularly evaluates job titles and roles to determine whether they can be performed more efficiently. RTA's compensation and salary policies are updated annually. Implementation of salary increases for administrative employees was put on hold during the pandemic. RTA plans to conduct a salary study to better understand salary trends Agency -wide as well as RTA's relationship with comparative salaries industry- and region -wide. The Agency's drug and alcohol policy and equal opportunity policy were updated during the audit period. Turnover of coach operators was 11 percent towards the end of the audit period and is attributed to retirements and disciplinary action. Most employee separations from RTA occur during the first year of employment. RTA also saw several of its supervisory personnel separate from the Agency due to retirement. Administrative employees are subject to a six-month introductory period with an annual evaluation afterwards. The annual evaluation is conducted on the anniversary of the date of hire and includes a self -evaluation. At the organizational level, the Agency and each department set goals for the Michael Baker International - 53 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 upcoming fiscal year. Goals are communicated to the employees and feedback is solicited from each department. Training procedures have remained the same other than for DMV testing standards. Coach operators undergo six weeks of training at the regular starting salary. Operators are required to have a Class B commercial license with air brake and passenger endorsements. Training is conducted on -site and involves classroom, behind -the -wheel, and line instruction or cadetting. RTA maintains a recruitment calendar based on service needs and changes in staffing. During the pandemic, RTA temporarily put operator and mechanic recruitment efforts on hold as service reductions alleviated the need for additional staff. Servicer positions and a select number of administrative roles were back -filled during this time. Fortunately, RTA has not experienced the operator and mechanic shortages that many other transit agencies have experienced nationally, allowing RTA to continue to provide comprehensive reliable service throughout the pandemic. However, in an effort to proactively avoid any negative impacts from the national bus operator and mechanic shortages in the future, RTA does plan to reinstate recruitment efforts. RTA implemented a telework policy for administrative staff in response to the pandemic. At the time of this audit, the majority of administrative staff was working remotely due to the Omicron virus surge. Human Resources continues to monitor the situation and is working towards staff's return to the office. Risk Management The department covers risk, safety, and security, and reviews risk stemming from incidents and accidents, whether during revenue service or at any of RTA's properties. Public passenger behavior is monitored on -board buses and at bus stations. The department implements safety and development courses and is responsible for the coaching of drivers and retraining of operators after accidents, incidents, orcustomerservice issues. Facilities also undergo inspections for compliance with the safety screening plan, and audits are conducted as needed. A safety committee convenes to discuss risk topics, solutions to issues, and implementable actions. During the audit period, the Risk Management Department implemented a root cause analysis protocol for analyzing and preventing incidents and accidents. This analysis is conducted by a supervisor in response to every incident or accident that occurs and is intended to help determine if any changes to safety policies or processes could yield safer results. If new procedures are developed as a result of the root analysis findings, policy changes are conveyed to staff through a variety of means including safety bulletins, safety meetings, and trainings. For example, the backing up of a bus could require a modified procedure such as having a second person watch the backside. The department increased its communication and cooperation with law enforcement. There are over 200 cameras at RTA facilities that capture incidents that could prove helpful to both RTA and law enforcement. Daily checks of the camera function are conducted. The Riverside facility is guarded at all times, while the Hemet facility has night shift security. The downtown Vine Street Mobility Hub will also receive 24/7 security surveillance. Security personnel is contracted with an outside firm to Michael Baker International - 54 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 actively report and enforce safety rules at RTA facilities. RTA receives reports from the security firm on incidents and activity at patrol check points. Liquidated damages are included in the security contract for failing to carry out responsibilities. In response to the pandemic, RTA implemented a health screening process for each shift. The screenings include temperature scans and completion of a questionnaire for all personnel entering the facility. These screenings were intended to reduce the spread of the virus and keep staff healthy and available for work by identifying personnel who might have contracted the virus unknowingly. A team of two screeners were utilized each shift; screening roles were filled by RTA administrative employees. RTA partnered with the County of Riverside Emergency Response Team to keep informed of all testing and vaccine opportunities in the community. Vaccine clinics were also conducted at RTA facilities. In accordance with FTA's July 2020 deadline, RTA adopted and self -certified its first Public Transit Agency Safety Plan (PTASP). This plan details the process and procedures RTA utilizes to implement the Agency's Safety Management Systems. RTA staff utilized the recourses offered through FTA's PTASP Technical Assistance Center throughout the production of this plan. Annual updates to the PTASP are required; while only self -certification and board adoption are required for ratification of a PTASP, FTA will formally review the plan for compliance during the federal triennial review process. Procurement The Procurement Department is responsible for procuring a wide range of equipment, parts, supplies, contractors, vendors, and professional services that are used by RTA. Selected accomplishments and challenges of the department during the audit period included: • Coordinated with Maintenance Department to ensure adequate PPE inventory kept on -site amid national supply shortages. • Began a procurement for an initial 35 fixed -route vehicles in FY 2021. There is an option to purchase an additional 35 vehicles on this contract. • Procured 12 Chevy Bolt support vehicles. • In November 2020, began using the new Infor EAM software, which replaced the Spear Technologies eMaintenance software. The department maintains the Agency's vendor list, and filters bid notifications by vendor industry and interest. RTA does not use procurement platforms such as PlanetBids. The reason given is that the cost -to -benefit does not warrant its usage; however, staff does see potential efficiencies and staff time savings that could result from the use of such e -procurement software. This trade-off analysis should continue as e -procurement technology matures and better economies can be realized for an Agency like RTA such as through personnel cost savings, process efficiencies, procurement risk reduction, and increased competitive bidding. Procurement tasks are delegated among the employees in the department. For any purchases in excess of $100,000, Board approval is required. During the pandemic, the Procurement Department utilized virtual meetings for all pre -bid and Michael Baker International - 55 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 contractor interview meetings. Contractor feedback and high participant turnout indicated that virtual meetings were more appealing than in -person meetings for many contractors; as a result RTA plans to continue offering contractors a virtual meeting option for required meetings. The RTA website provides the online conduit for bid opportunities, which RTA must coordinate with the contracted webmaster to publish, a repeated, manually driven process that uses an Access database. Information Technology The IT Department is responsible for the provision of RTA IT services. Accomplishments of the IT Department during the audit period included: • Outfitted administrative staff with necessary equipment and programs to work remotely during pandemic. • Proactively upgraded firewall to ensure added network security. • Migrated Agency to new cloud -based Infor EAM software in November 2020, replacing the previously used Spear Technologies system. • Implemented DocuSign program Agency -wide, enabling administrative staff to digitally sign documents while in a telework environment. • Continued to utilize and maintain the IT help desk system, including ticket tracking and troubleshooting. • Continued to maintain CCTV and access controls at Vine Street Mobility Hub site and La Sierra and Eastvale-Amazon layover restrooms. • Replaced recorders on all directly operated fixed -route buses; increased storage time from 30 days to 60 days with accompanying software updates. The IT Department is staffed with three employees assigned to two facilities. The department handles the Agency's software and ERP/EAM infrastructure as well as providing technical and help desk assistance. RTA outsources hosting; this vendor manages RTA's network functions and hosts equipment needs. The IT Department was also involved in the upgrade of the probing computers and server for the GFI fareboxes. Vehicles are equipped with video and audio recording devices, Wi-Fi, and CAD/AVL/APC equipment and accompanying software from Clever Devices Limited. Software updates were done to video and audio recording software to increase recording storage from 30 days of memory to 60 days. CAD/AVL/APC functionalities allow RTA staff access to real-time vehicle location, ridership, passenger loads, OTP, and vehicle maintenance data. System updates were completed to allow the transmittal of updated data every 20 seconds, rather than the 30 -second interval that was possible previously. IT is working on a customer -facing app feature that would utilize this data to allow riders to view vehicle capacity/bus crowding in real time. RTA anticipates that this feature will be available to the public in 2022. RTA is also currently working with Caltrans on a California Integrated Travel Project to implement General Transit Feed Specification Real Time (GTFS-real-time) technology. The result of this project would allow RTA to publish real-time vehicle information to the public in an open data format that can be easily integrated by third -party app developers. Michael Baker International - 56 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 Transit signal priority (TSP) is currently being used on Route 1 along the University Avenue and Magnolia Avenue corridors. RTA continues to work with other jurisdictions to explore the deployment of this technology to other corridors. TSP was approved on two corridors in the City of Riverside encompassing 14 intersections, and in the City of Moreno Valley. Michael Baker International - 57 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 Section VI Statement of Facts The following summarizes factual events and trends obtained from this triennial audit covering fiscal years 2019 through 2021. A single recommendation is then provided. 1. Of the compliance requirements pertaining to RTA, the operator fully complied with all nine applicable requirements. Two additional compliance requirements did not apply to RTA (rural and urbanized farebox recovery ratios), as the transit operator is subject to the blended ratio under PUC 99270.1. 2. The blended farebox recovery ratio target approved by RCTC for RTA service was met in FY 2019 and FY 2020. RTA did not meet the farebox recovery ratio target in FY 2021; however, AB 90 prohibits the imposition of penalties on a transit operator that does not maintain the required ratio of fare revenues to operating cost during FY 2019-20 or FY 2020-21. Including eligible non - fare revenue, the farebox recovery ratio was 24.77 percent in FY 2019; 20.07 percent in FY 2020; and 9.80 percent in FY 2021, according to the audited basic financial statements. The average annual farebox recovery ratio was 18.21 percent. 3. RTA and its contract operators participate in the CHP Transit Operator Compliance Program and received vehicle inspections within the 13 months prior to each TDA claim. Terminal inspections received satisfactory ratings by the CHP. 4. The operating budget exhibited modest increases and did not exceed 15 percent during the period. After a 8.3 percent increase in FY 2019, the budget increased 2.0 percent in FY 2020. The FY 2021 operating budget decreased by 8.8 percent. Total Agency salaries and purchased transportation costs declined in the last fiscal year as a result of the pandemic, though insurance premiums increased. 5. RTA satisfactorily implemented one of the two prior audit recommendations, with the second recommendation no longer being relevant due to Agency policy changes and vehicle limitations. The recommendation pertaining to the evaluation of the commuter ridership market was fully implemented through the implementation of a Market Assessment and Strategic Directions Study in October 2018 and a follow-up survey of Route 200 riders in April 2021. The recommendation not implemented suggested analysis of RTA facility growth in the southern section of the service area. The Agency's adoption of its ZEB Plan along with the decreased ridership resulting from the COVID-19 pandemic eliminated the need and ability for facility expansion into the southern section of RTA's service area. 6. Operating cost per passenger increased by 186.5 percent systemwide, by 196.8 percent for general public service, and by 187.9 percent for DAR service (as compared to an 8.1 percent Michael Baker International - 58 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 change in inflation during the audit period). This performance measure reflects the drastic impacts of sudden decreases in ridership resulting from the COVID-19 pandemic. 7. Operating cost per vehicle service hour increased by 66.2 percent system -wide, by 119.2 percent for DAR service, and by 50.9 percent for general public service. Operating cost per vehicle service mile increased by 62.9 percent system -wide, by 92.0 percent for DAR service, and by 48.8 percent for general public service. 8. Passengers per vehicle service hour decreased by 42 percent system -wide, by 49.2 percent for general public service, and by 23.9 percent for DAR service. Passengers per vehicle service mile decreased by 43.1 percent system -wide, by 49.4 percent for general public service, and by 33.3 percent for DAR service. 9. In response to the immediate drastic decline in ridership from the COVID-19 pandemic, RTA began work on a virus response plan to help guide decision -making on service levels and Agency protocols. Other reductions were also implemented. In an effort to maintain social distancing measures, a 10 -passenger limit was placed on all 40 -foot buses, while RTA adopted a one -bus - one -operator policy, among other measures. 10. In April 2019, the RTA's Board approved a two-phase fare increase, the first of which was implemented in July 2019 and is shown in Table 1-2 below. The second fare increase was scheduled to be implemented in July 2021. However, on February 25, 2021, the Board unanimously approved delaying the July 2021 fare increase for one year until July 2022 due to the financial impacts of the COVID-19 pandemic. Prior to this, fares had not been increased in a decade. On April 28, 2022, the Board unanimously approved canceling the July 2022 fare increase until a new fare policy study can be conducted. 11. In December 2020, the RTA Board of Directors approved RTA's ZEB Plan. The plan details how RTA plans to transition to an all -hydrogen fuel cell electric bus fleet, a direction that was informed by a system -wide analysis of the feasibility of operating electric versus hydrogen - powered vehicles in the Agency's western Riverside County service area in response to the California Air Resources Board mandate. 12. Beginning in FY 2020, vehicle revenue mileage decreased drastically due to the service reductions made in response to the pandemic. To ensure all vehicles were still being properly maintained and monitored, RTA's Maintenance Department switched from a mileage -based PMI schedule to a day -based schedule with inspections taking place every 90 days. These inspections were conducted using US Department of Transportation safety inspection guidelines. 13. RTA and the City of Riverside are moving forward on the planning for the new Vine Street Mobility Hub, one of the preferred locations identified in the City of Riverside's General Plan 2025. The project site is approximately 4.7 acres owned by RTA and is located adjacent to the Downtown Riverside Metrolink Station and the public park -and -ride lot. The design phase was Michael Baker International - 59 Triennial Performance Audit of Riverside Transit Agency — FYs 2019-2021 completed in 2021. At the time of this audit, the RFP for construction had been released; selection of a contractor is pending. Recommendations 1. Conduct cost benefit for e -procurement alternatives. The Procurement Department solicits bids through the RTA website and experiences increased competitive bids and vendor interest from a virtual, web -based environment. The department maintains the Agency's vendor list, and filters bid notifications by vendor registration. Procurement tasks are delegated among the employees in the department. For any purchases in excess of $100,000, Board approval is required. The RTA website provides the online conduit for bid opportunities which RTA must coordinate with the contracted webmaster to publish, a repeated, manually driven process that involves use of an Access database. RTA does not currently use established external procurement platforms such as PlanetBids due to cost -to -benefit results that do not currently warrant investment. However, procurement staff do see potential efficiencies and staff time savings that could result from the use of such e -procurement software, especially because of greater automation, increased remote vendor participation, and acceptance of electronic documentation. This trade-off analysis of transitioning to an e -procurement service should continue as the technology matures and better economies can be realized for an Agency like RTA that will see increases in the number and value of procurements. The cost -benefit analysis should include variables such as personnel time cost savings, process efficiencies, vendor profile maintenance, and increased competitive bidding, which could offset and justify the investment cost. As examples, transit agencies that use procurement services like PlanetBids include RCTC, North County Transit District, Sacramento Regional Transit District, and Long Beach Transit. Michael Baker International - 60 ATTACHMENT 7 RCTC RIVERSIDE COUNTY TRANSPORTATION COMMISSION Triennial Performance Audit of SunLine Transit Agency Suflhlflhl TRANSIT AGENCY October 2022 FY 2019-2021 Submitted to: Riverside County Transportation Commission Submitted by: Michael Baker INTERNATIONAL TABLE OF CONTENTS Section I 1 Introduction 1 Overview of the Transit System 1 Section II 7 Operator Compliance Requirements 7 Section III 13 Prior Triennial Performance Recommendations 13 Section IV 15 TDA Performance Indicators 15 Section V 26 Review of Operator Functions 26 Operations 26 Maintenance 34 Planning 39 Marketing 40 General Administration and Management 42 Section VI 49 Statement of Facts 49 Recommendations 52 Michael Baker International Triennial Performance Audit of SunLine Transit Agency — FYs 2019-2021 Section 1 Introduction California's Transportation Development Act (TDA) requires that a triennial performance audit be conducted of public transit entities that receive TDA revenues. The performance audit serves to ensure accountability in the use of public transportation revenue. The Riverside County Transportation Commission (RCTC) engaged Michael Baker International to conduct the TDA triennial performance audit of the public transit operators under its jurisdiction in Riverside County. This performance audit is conducted for SunLine Transit Agency covering the most recent triennial period, fiscal years 2018-2019 through 2020-2021. The purpose of the performance audit is to evaluate SunLine's effectiveness and efficiency in its use of TDA funds to provide public transportation in its service area. This evaluation is required as a condition for continued receipt of these funds for public transportation purposes. In addition, the audit evaluates SunLine's compliance with the conditions specified in the California Public Utilities Code (PUC). This task involves ascertaining whether the transit agency is meeting the PUC's reporting requirements. Moreover, the audit includes calculations of transit service performance indicators and a detailed review of the transit administrative functions. From the analysis that has been undertaken, a set of recommendations has been made which is intended to improve the performance of transit operations. In summary, this TDA audit affords the opportunity for an independent, constructive, and objective evaluation of the organization and its operations that otherwise might not be available. The methodology for the audit included in -person interviews with management and staff, collection and review of agency documents, data analysis, and on -site observations. The Performance Audit Guidebook for Transit Operators and Regional Transportation Planning Entities published by the California Department of Transportation (Caltrans) was used to guide in the development and conduct of the audit. Overview of the Transit System SunLine was established under a Joint Powers Agreement (JPA) on July 1, 1977, between the County of Riverside and the cities in the Coachella Valley, which at the time included the City of Coachella, City of Desert Hot Springs, City of Indio, City of Palm Desert, and the City of Palm Springs. The JPA was later amended to include the Cities of Cathedral City, Indian Wells, La Quinta, and Rancho Mirage. The JPA's governing board is composed of one elected official from each member entity and one county supervisor. SunLine is headquartered in Thousand Palms. SunLine's service area encompasses 1,120 square miles of the Coachella Valley from the San Gorgonio Pass in the west to the Salton Sea in the southeast. From 2010 to 2020, the Coachella Valley population grew from 346,518 to 370,135, for a net gain of 23,617 people, or 6.8 percent. The Southern California Association of Governments (SCAG) projects there will be 600,000 people Michael Baker International - 1 Triennial Performance Audit of SunLine Transit Agency — FYs 2019-2021 in the Coachella Valley by 2040, a nearly 62 percent increase in population between 2020 and 2040. Projected growth rates vary significantly across SunLine's service area and not all communities are anticipating significant growth. Development is occurring predominantly in the southeastern end of the valley (Coachella and Indio), south of La Quinta, north of Interstate 10 (I- 10) in Palm Desert, Cathedral City and Desert Hot Springs. A demographic snapshot of incorporated cities located in the Coachella Valley is presented in Table 1-1: Table 1-1 Coachella Valley Demographics City 2020 US Census Population Percent Change from 2010 US Census Population 65 Years & Older (ACS) 2021 California DOF Estimate Land Area (square miles) Cathedral City 51,493 0.57% 17.0% 53,973 21.50 Coachella 41,941 3.04% 8.2% 47,825 28.95 Desert Hot Springs 32,512 25.35% 13.6% 30,086 23.62 Indian Wells 4,757 -4.05% 58.6% 5,428 14.32 Indio 89,137 17.23% 19.2% 91,621 29.18 La Quinta 37,558 0.24% 26.0% 41,247 35.12 Palm Desert 51,163 5.61% 36.0% 53,892 26.81 Palm Springs 44,575 0.05% 31.7% 47,754 94.12 Rancho Mirage 16,999 -1.27% 51.7% 18,799 24.45 Source: US Census, California Department of Finance, January 1, 2021 System Characteristics In January 2021, SunLine launched its "SunLine Refueled" initiative, a newly redesigned transit system. The new system is composed of a new fixed -route network with accompanying ADA paratransit service, a new commuter line (which launched in July 2021, just after the audit period), and an accompanying micro transit service. In 2022, a new express route is planned to be introduced. SunBus, SunLine's fixed -route service, is composed of 10 routes (10 local routes, and 1 regional/express route) and operates throughout the Coachella Valley. SunDial, SunLine's complementary paratransit service, provides rides to those certified under the Americans with Disabilities Act (ADA) who cannot ride the fixed -route service. SunLine's micro transit service, SunRide, is available in four zones across Coachella Valley. Riders can connect to fixed -route service or any destination along the fixed -route network in the designated zone by requesting service via a mobile app. SunRide vehicles pick up passengers within walking distance of their location and drop them off at a fixed -route bus stop or other point destination within the designated zones. SunRide service is available weekdays from 5:30 a.m. to 6:30 p.m. Fares are $3.00 per trip and include free transfers to local fixed -route service. Michael Baker International - 2 Triennial Performance Audit of SunLine Transit Agency — FYs 2019-2021 The system operates Monday through Sunday from 5:00 a.m. to 11:23 p.m. SunLine does not operate on Thanksgiving Day and Christmas Day but operates regular service on all other holidays. The Commuter Link 10 service does not operate on weekends, New Year's Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day, and Christmas Day. The SunBus and Commuter Link 10 routes are summarized in Table 1-2. Table 1-2 SunBus Fixed -Route Services Route Description Frequency/Operation Key Time points 1 Coachella Via- HWY 111- Palm Springs Daily every 20 minutes (Weekdays from 5:00 a.m. to 11:12 p.m.) • Palm Canyon & Stevens • Indian Canyon & Ramon • B Street & Buddy Rogers • Town Center Way & Hahn • Hwy 111 & Adams • Hwy 111 & Golf Center • 5th & Vine 2 Desert Hot Springs- Palm Springs- Cathedral City Weekdays every 20 minutes (from 5:15 a.m. to 11:23 p.m.); Weekends every 40 minutes (from 5:15 a.m. to 10:54 p.m.) • B Street & Buddy Rogers • Ramon & Date Palm • Indian Canyon & Ramon • Sunrise & Vista Chino • West & Pierson 3 Desert Edge- Desert Hot Springs Daily every 60 minutes (Weekdays from 6:00 a.m. to 8:46 p.m.; weekends 6:45 a.m. to 8:40 p.m.) • West & Pierson • Dillon & Corkill 4 Westfield Palm Desert- Palm Springs Weekdays every 40 minutes (from 5:00 a.m. to 11:13 p.m.); weekends every 60 minutes (from 6:10 a.m. to 9:50 p.m.) • El Cielo & Kirk Douglas • Vista Chino & Sunrise Way • Ramon & Date Palm • Dinah Shore & Shoppers Lane • Town Center Way & Hahn • Palm Canyon & Stevens • Indian Canyon & Ramon 5 Desert Hot Springs- CSUSB Palm Desert- Westfield Palm Desert Weekdays every 60 minutes (from 6:10 a.m. to 6:51 p.m.) • Town Center Way & Hahn • Cook & Berger • Cook & University Park • West & Pierson Michael Baker International - 3 Triennial Performance Audit of SunLine Transit Agency — FYs 2019-2021 Route Description Frequency/Operation Key Time points 6 Coachella- Via Fred Waring- Westfield Palm Desert Weekdays every 45 minutes (from 5:50 a.m. to 8:45 p.m.); weekends every 60 minutes (from 6:00 a.m. to 9:18 p.m.) • Town Center Way & Hahn • Fred Waring & Washington • 5th & Vine 7 Bermuda Dunes- Indian Wells- La Quinta Weekdays every 45 minutes (from 5:15 a.m. to 8:51 p.m.); weekdays every 90 minutes (from 5:10 a.m. to 9:20 p.m.) • Calle Madrid & Avenida Vallejo • Adams & Hwy 111 • Washington & Fred Waring • Harris Lane & Washington 8 North Indio- Coachella — Thermal/Mecca Weekdays every 40 minutes (from 5:30 a.m. to 10:42 p.m.); weekends every 60 minutes (from 5:35 a.m. to 10:59 p.m.) • 66th & Mecca Health Clinic • 62nd & Buchanan • 5th & Vine • Showcase & Monroe 9 North Shore- Mecca- Oasis Daily every 60 minutes (weekdays from 5:45 a.m. to 10:34 p.m.; weekends from 5:40 a.m. to 10:29 p.m.) • Ave 66 & Date Palm • Club View & Windlass • 66th & Mecca Health Clinic • Mountain View & Harrison Commuter Link 10 Indio- CSUSB (PDC)- Beaumont- CSUSB (San Bernardino)- SBTC/Metrolink Two AM trips in each direction & two PM trips in each direction. (Monday through Friday from 5:20 a.m. to 8:00 p.m., no weekend or holiday service) • HWY 11 & Golf Center Pkwy • Cook & Berger (CSUSB- PDC) • 2nd & Commerce • Cal State San Bernardino • San Bernardino & Transit Center Source: SunLine Transit Agency, September 2021 Michael Baker International - 4 Triennial Performance Audit of SunLine Transit Agency — FYs 2019-2021 SunDial ADA Paratransit Service SunDial is a curb -to -curb paratransit service for passengers certified under the ADA, who are unable to access the regular SunBus fixed -route service. Service is available at the same time as the fixed route and within .75 miles of any local SunBus route (not including Commuter Link 10). Reservations for service are required prior to pickup. Trips not cancelled a minimum of two hours prior to the scheduled pickup time are considered no-shows. The service does not operate on Thanksgiving Day and Christmas Day. One-way fare, which includes a transfer, is $3.00. Half -fare is available for qualifying riders. Fares SunLine's fares are structured based on passenger, media, and service type. It is also worth noting that SunLine implemented mobile ticketing through the Token Transit platform in May 2019. The fare structures are summarized in Table 1-3. Table 1-3 SunLine Fare Schedule Fixed Route Commuter Link 10 Category Fare Category Fare Adult $1.00 Adult/Youth $6.00 Youth (Ages 5 to 17) $0.85 Senior (Age 60+)/Disabled $4.00 Senior (Age 60+)/Disabled $0.50 CSUSB Students, Staff, & Faculty Free with valid CSUSB ID Transfer (Valid for two hours) $0.25 Passes Children (Ages 4 and under) Free 30 -Day Pass Passes Adult/Youth $150.00 31 -Day Pass Senior (Age 60+)/Disabled $100.00 Adult $34.00 Day Pass Youth (Ages 5 to 17) $24.00 Adult/Youth $14.00 Senior (Age 60+)/Disabled $17.00 Senior (Age 60+)/Disabled $10.00 Transfers Included SunRide Day Pass Standard Fare (one-way, includes transfer) $3.00 Adult $3.00 Youth (Ages 5 to 17) $2.00 Senior (Age 60+)/Disabled $1.50 Transfers Included 10 -Ride Pass Adult $10.00 Youth (Ages 5 to 17) $8.50 Senior (Age 60+)/Disabled $5.00 Transfers $0.25 Source: SunLine Transit Agency, September 2021 Michael Baker International - 5 Triennial Performance Audit of SunLine Transit Agency — FYs 2019-2021 Fleet The SunLine fleet is composed of 135 vehicles, 129 of which are clean fuel vehicles, with 109 powered by compressed natural gas (CNG), 16 by hydrogen fuel cell, and 4 electric -battery. Ninety large -sized vehicles are used for the SunBus fixed -route service, and 39 are smaller cutaway -type vehicles used for SunDial service. All vehicles in fixed route and SunDial revenue service are wheelchair accessible with tie -downs in compliance with ADA. There are an additional 48 non - revenue support vehicles, most of which are powered by CNG. The fleet also includes six gasoline - powered vans that are used for vanpool service. Table 1-4 summarizes the active SunLine fleet during the audit period. Table 1-4 SunLine Active Fleet Inventory During Audit Period Year Make/Model Quantity Fuel Type Seating Capacity Service Mode 2008 New Flyer C4OLF 37 CNG 39 (2 W/C) Fixed Route 2009 El Dorado Easy Rider 10 CNG 29 (2 W/C) Fixed Route 2012 El Dorado Axcess 40 1 Hydrogen Fuel Cell 37 (2 W/C) Fixed Route 2014 Classic Trolley 5 CNG 24 (1 W/C) Fixed Route 2014 El Dorado/Axcess 3 CNG 37 (2 W/C) Fixed Route 2015 El Dorado E-450 4 CNG 12 (2 W/C) SunDial 2015 El Dorado Axcess 40 1 CNG 37 (2 W/C) Fixed Route 2016 El Dorado E-450 13 CNG 12 (2 W/C) SunDial 2016 New Flyer/XN40 6 CNG 39 (2 W/C)_ Fixed Route 2017 El Dorado/Axess 1 CNG 37 (2 W/C) Fixed Route 2018 El Dorado/Axess 40 5 CNG 37 (2 W/C) Fixed Route 2018 BYD Electric Bus 4 Electric Battery 35 (2 W/C) Fixed Route 2018 New Flyer Fuel Cell 3 Hydrogen Fuel Cell 39 (2 W/C)_ Fixed Route 2018 New Flyer/XHE40 2 Hydrogen Fuel Cell 39 (2 W/C)_ Fixed Route 2018 STARTRANS Senator II 14 CNG 12 (2 W/C)_ SunDial 2019 New Flyer/XN40 10 Hydrogen Fuel Cell 39 (2 W/C)_ Fixed Route 2019 Ford Flex Van 1 Gasoline 7 Van Pool 2020 MCI D4500 -15816C 2 CNG 55 (2 W/C)_ Fixed Route 2020 Arboc Freedom 8 CNG 12 (2 W/C) SunDial 2020 Dodge Durango Van 1 Gasoline 7 Van Pool 2020 Ford Transit 3LP Van 1 Gasoline 8 Van Pool 2021 Ford Expedition Van 1 Gasoline 8 Van Pool 2021 Ford Transit 3LP Van 1 Gasoline 10 Van Pool 2021 Ford Transit 3LP Van 1 Gasoline 13 Van Pool Total 135 Source: SunLine Vehicle Listing, SunLine NTD Revenue Vehicle Inventory Michael Baker International - 6 Triennial Performance Audit of SunLine Transit Agency — FYs 2019-2021 Section 11 Operator Compliance Requirements This section of the audit report contains the analysis of the agency's ability to comply with state requirements for continued receipt of TDA funds. The evaluation uses the guidebook Performance Audit Guidebook for Transit Operators and Regional Transportation Planning Agencies, developed by Caltrans to assess transit operators. The guidebook contains a checklist of 11 measures taken from relevant sections of the PUC and the California Code of Regulations. Each of these requirements is discussed in the table below, including a description of the system's efforts to comply with the requirements. In addition, the findings from the compliance review are described in the text following the table. Table 11-1 Operator Compliance Requirements Matrix Operator Compliance Requirements Reference Compliance Efforts The transit operator has submitted annual reports to the RTPA based upon the Uniform System of Accounts and Records established by the State Controller. Report is due within seven (7) months after the end of the fiscal year (on or before January 31). The report shall contain underlying data from audited financial statements prepared in accordance with generally accepted accounting principles, if this data is available. Public Utilities Code, Section 99243 Completion/submittal dates: FY 2019: January 21, 2020 FY 2020: January 15, 2021 FY 2021: January 27, 2022 Conclusion: Complied. The operator has submitted annual fiscal and compliance audits to the RTPA and to the State Controller within 180 days following the end of the fiscal year (Dec. 27) or has received the appropriate 90- day extension by the RTPA allowed by law. Public Utilities Code, Section 99245 Completion/submittal dates: FY 2019:January 22, 2020 FY 2020: December 2, 2020 FY 2021: November 19, 2021 Conclusion: Complied. Michael Baker International - 7 Triennial Performance Audit of SunLine Transit Agency — FYs 2019-2021 Table 11-1 Operator Compliance Requirements Matrix Operator Compliance Requirements Reference Compliance Efforts The CHP has, within the 13 months prior to each TDA claim submitted by an operator, certified the operator's compliance with Vehicle Code Section 1808.1 following a CHP inspection of the operator's terminal. Public Utilities Code, Section 99251 B The agency participates in the California Highway Patrol (CHP) Transit Operator Compliance Program in which the CHP has conducted inspections within the 13 months prior to each TDA claim. Inspections for both fixed route (SunBus) and Dial -a -Ride (SunDial) vehicles were conducted at SunLine Transit Agency headquarters located at 32505 Harry Oliver Trail in Thousand Palms. Inspection dates applicable to the audit period were May 20, 22, 23, and 24, 2019; June 11, 12, and 16, 2020; July 8, 2020; May 26 and 27, 2021 and June 2, 2021. All inspections conducted were rated satisfactory. Conclusion: Complied. The operator's claim for TDA funds is submitted in compliance with rules and regulations adopted by the RTPA for such claims. Public Utilities Code, Section 99261 As a condition of approval, SunLine's annual claims for Local Transportation Funds and State Transit Assistance funds are submitted in compliance with the rules and regulations adopted by RCTC. Conclusion: Complied. If an operator serves urbanized and non -urbanized Public Utilities Code, Section 99270.1 Pursuant to PUC Section 99270.1, RCTC is responsible for Michael Baker International - 8 Triennial Performance Audit of SunLine Transit Agency — FYs 2019-2021 Table 11-1 Operator Compliance Requirements Matrix Operator Compliance Requirements Reference Compliance Efforts areas, it has maintained a ratio of fare revenues to operating costs at least equal to the ratio determined by the rules and regulations adopted by the RTPA. calculating an intermediate farebox recovery ratio for SunLine Transit Agency since it serves both urbanized and non - urbanized areas. The farebox is inclusive of passenger fares and local support revenue. SunLine Minimum Fare Ratio Ratio FY 2019: 17.55% 17.53% FY 2020: 23.74% 19.74% FY 2021: 23.34% 19.12% Source: Annual Fiscal & Compliance Audits Conclusion: Complied. The operator's operating budget has not increased by more than 15% over the preceding year, nor is there a substantial increase or decrease in the scope of operations or capital budget provisions for major new fixed facilities unless the operator has reasonably supported and substantiated the change(s). Public Utilities Code, Section 99266 Percentage change in SunLine Transit Agency's operating budget: FY 2019: +11.5% FY 2020: +5.0% FY 2021: +0.0% Source: SunLine Transit Agency Approved Budgets for FYs 2019, 2020 and FY 2021. Conclusion: Complied. The operator's definitions of performance measures are consistent with Public Utilities Code Section 99247, including (a) operating cost, (b) operating cost per Public Utilities Code, Section 99247 SunLine Transit Agency's definition of performance is consistent with PUC Section 99247. A review of SunLine's monthly miles and hours reports generated during the audit Michael Baker International - 9 Triennial Performance Audit of SunLine Transit Agency — FYs 2019-2021 Table 11-1 Operator Compliance Requirements Matrix Operator Compliance Requirements Reference Compliance Efforts passenger, (c) operating cost per vehicle service hour, (d) passengers per vehicle service hour, (e) passengers per vehicle service mile, (f) total passengers, (g) transit vehicle, (h) vehicle service hours, (i) vehicle service miles, and (j) vehicle service hours per employee. period indicates that correct performance data are being collected. Conclusion: Complied. If the operator serves an urbanized area, it has maintained a ratio of fare revenues to operating costs at least equal to one -fifth (20 percent), unless it is in a county with a population of less than 500,000, in which case it must maintain a ratio of fare revenues to operating costs of at least equal to three -twentieths (15 percent), if so determined by the RTPA. Public Utilities Code, Sections 99268.2, 99268.3, 99268.12, 99270.1 This requirement is not applicable, as SunLine Transit Agency serves both urbanized and non -urbanized areas and is subject to an intermediate farebox recovery ratio. Conclusion: Not Applicable. If the operator serves a rural area, or provides exclusive services to elderly and disabled persons, it has maintained a ratio of fare revenues to operating costs at least equal to one -tenth (10 percent). Public Utilities Code, Sections 99268.2, 99268.4, 99268.5 This requirement is not applicable, as SunLine Transit Agency serves both urbanized and non -urbanized areas and is subject to an intermediate farebox recovery ratio. Conclusion: Not Applicable. The current cost of the operator's retirement system is fully funded with respect to the officers and employees of its public transportation system, or the operator is implementing a plan approved Public Utilities Code, Section 99271 To be eligible for TDA funds, the annual TDA claims form requires a sign -off from the transit claimant to comply with standard assurances, one of which is that the SunLine Transit Michael Baker International - 10 Triennial Performance Audit of SunLine Transit Agency — FYs 2019-2021 Table 11-1 Operator Compliance Requirements Matrix Operator Compliance Requirements Reference Compliance Efforts by the RTPA which will fully fund the retirement system within 40 years. Agency's retirement system is funded. Agency staff retirement is funded through SunLine Transit Retirement Income Plans for Bargaining and Non -Bargaining Personnel Plans, single employer defined benefit plans. The agency administers the plans through a Retirement Committee appointed by the agency's Board of Directors. Conclusion: Complied. If the operator receives state transit assistance funds, the operator makes full use of funds available to it under the Urban Mass Transportation Act of 1964 before TDA claims are granted. California Code of Regulations, Section 6754(a)(3) As a recipient of State Transit Assistance funds, SunLine is making full use of federal funds available under the Urban Mass Transportation Act of 1964 as amended. FY2019: $4,540,322 (Operating) $6,525,076(Capital) FY2020: $8,488,692 (Operating) $4,928,041 (Capital) FY2021: $18,152,562 (Operating) $1,368,394 (Capital) Source: Annual Fiscal & Compliance Audits Conclusion: Complied. Michael Baker International - 11 Triennial Performance Audit of SunLine Transit Agency — FYs 2019-2021 Findings and Observations from Operator Compliance Requirements Matrix 1. Of the nine compliance requirements pertaining to SunLine Transit Agency, the operator fully complied with all nine applicable requirements. Two additional compliance requirements did not apply to SunLine (i.e., separate urbanized and rural farebox recovery ratios). 2. SunLine is subject to an intermediate farebox recovery ratio standard set by RCTC pursuant to PUC Section 99270.1. The intermediate ratio is a blended ratio that accounts for both rural and urbanized areas. The minimum farebox recovery ratios that SunLine was required to meet were 17.53 percent in FY 2019; 19.74 percent in FY 2020; and 19.12 percent in FY 2021. SunLine's farebox recovery ratios based on audited data were 17.55 percent in FY 2019; 23.74 percent in FY 2020; and 23.34 percent in FY 2021. SunLine exceeded the minimum standard in all three audit years. The average farebox recovery ratio was 21.54 percent. 3. SunLine Transit Agency participates in the CHP Transit Operator Compliance Program and received vehicle inspections within the 13 months prior to each TDA claim. Inspections conducted during the audit period were rated satisfactory. All fixed -route and Dial -a -Ride vehicles were inspected at SunLine's Thousand Palms facility. 4. The annual changes in the operating budget exhibited moderate increases during the audit period. SunLine's budget for FY 2019 increased by 11.5 percent, by 5.0 percent in FY 2020, and by zero percent in FY 2021. Michael Baker International - 12 Triennial Performance Audit of SunLine Transit Agency — FYs 2019-2021 Section 111 Prior Triennial Performance Recommendations SunLine Transit Agency's efforts to implement the recommendations made in the FY 2016-2018 triennial performance audit are examined in this section of the report. For this purpose, each prior recommendation for the agency is described, followed by a discussion of SunLine's efforts to implement the recommendation. Conclusions concerning the extent to which the recommendations have been adopted by the agency are then presented. Prior Recommendation 1 Update the employee handbook. Background: The employee handbook was last updated in April 2016. Since that time, the latest memorandum of understanding (MOU) between SunLine and the Amalgamated Transit Union has included provisions for specialized training opportunities and employee contributions to the pension plan. In addition, SunLine has implemented several initiatives to nurture career growth and advancement. SunLine University offers in -services courses for employee development. A pilot employee referral program was also implemented in July 2019. Recently initiated, the update to the employee manual can incorporate these latest policies as well as changes that reflect the agency's organization structure and culture. SunLine University in -services courses are also under consideration for addition to the handbook. Actions taken by SunLine Transit Agency Due to the COVID-19 pandemic, SunLine Transit Agency has temporarily placed the employee handbook update initiative on hold. SunLine's Human Resources Department has indicated that the update resumed in late 2021/early 2022 and has convened three meetings pertaining to the handbook. Conclusion This recommendation has been partially implemented and will be carried forward for full implementation. Prior Recommendation 2 Coordinate opportunities for SunLine transit redesign with intelligent transportation infrastructure in the Coachella Valley. Background: According to the FY 2019-2020 Short -Range Transit Plan (SRTP), SunLine's transit redesign would consolidate existing routes and create micro transit service areas. In addition, SunLine will introduce a pilot Route 111 -Express service that will offer service with less travel time Michael Baker International - 13 Triennial Performance Audit of SunLine Transit Agency — FYs 2019-2021 between Coachella and Palm Springs. While the transit redesign and pilot programs from SunLine's Transit Redesign study may not immediately require heavy investment in new or additional transportation infrastructure, longer term success of next generation transit will likely rely on multiple improvements including vehicle technology and related intelligent infrastructure, such as transit priority systems. Intelligent transportation infrastructure is being planned and studied in the Coachella Valley, including studies conducted by the Coachella Valley Association of Governments (CVAG). One of the studies develops the concept for a regional traffic signal synchronization program and interagency coordination and communication needs. A signal priority system could benefit transit innovations such as bus rapid transit in key corridors. As SunLine progresses through implementation of the transit redesign and identifies opportunities to use advanced technology for its routes, a coordination effort should be outlined with partner agencies to plan for the necessary infrastructure for transit. Partner agencies could include the local municipalities, County of Riverside, RCTC, CVAG, and Caltrans District 8. A listing of priority corridors for signal prioritization is identified in the CVAG study, and SunLine should outline the interagency coordination to align the needs of enhanced transit with planned infrastructure investment in these corridors. Actions taken by SunLine Transit Agency The express route SunLine planned to implement that would address this recommendation was delayed due to COVID-19. Route 1X, which was scheduled to begin service in May 2021 between Indio and Palm Springs, will be operational once SunLine returns to Level 1 service in FY 2022. SunLine continues to work with CVAG on transit needs in the area and will continue to closely monitor the progress of the traffic signal prioritization project as well as other transit infrastructure projects in the region. Conclusion This recommendation has been partially implemented and will be carried forward for full implementation. Michael Baker International - 14 Triennial Performance Audit of SunLine Transit Agency — FYs 2019-2021 Section IV TDA Performance Indicators This section reviews SunLine Transit Agency's performance in providing transit service to the community in an efficient and effective manner. The TDA requires that at least five specific performance indicators be reported, which are contained in the following tables. Farebox recovery ratio is not one of the five specific indicators but is a requirement for continued TDA funding. Therefore, farebox calculation is also included. Two additional performance indicators that gauge service effectiveness and revenue, operating cost per mile and average fare per passenger, are included as well. Findings from the analysis are contained in the section following the tables. Tables IV -1 through IV -5 provide the performance indicators for SunLine system -wide, fixed route, SunDial paratransit, vanpool, and taxi service modes. Graphs are also provided to depict the trends in the indicators. It is noted that the system -wide operating costs and fare revenues are based on audited figures, while fixed -route and Dial -A -Ride costs and fare revenues are derived from unaudited data. The annual fiscal audits do not provide a modal breakdown. Michael Baker International - 15 Triennial Performance Audit of SunLine Transit Agency - FYs 2019-2021 Table IV -1 SunLine Transit Agency TDA Performance Indicators System -wide Performance Data and Indicators FY 2018 Audit Period % Change FY 2018-2021 FY 2019 FY 2020 FY 2021 Operating Cost (l)la) $32,478,309 $33,375,691 $36,749,538 $38,029,995 17.1% Total Passengers (b) 4,122,539 4,217,807 3,517,269 2,088,342 -49.3% Vehicle Service Hours (b) 303,329 299,655 288,260 251,837 -17.0% Vehicle Service Miles (b) 4,679,727 4,647,048 4,346,985 3,854,597 -17.6% Employee FTEs (b) 332 359 373 361 8.7% Passenger Fares (a) $2,900,114 $2,866,072 $2,032,866 $2,202,017 -24.1% Local Support Funds (2)(a) $4,078,029 $2,990,153 $6,690,163 $6,675,414 63.7% Total Revenues $6,978,143 $5,856,225 $8,723,029 $8,877,431 27.2% Operating Cost per Passenger $7.92 $7.96 $10.49 $18.36 132.0% Operating Cost per Vehicle Service Hour $108.76 $113.51 $129.02 $154.11 41.7% Operating Cost per Vehicle Service Mile $7.40 $7.70 $8.83 $10.41 40.8% Passengers per Vehicle Service Hour 13.7 14.3 12.3 8.4 -38.9% Passengers per Vehicle Service Mile 0.93 0.97 0.84 0.57 -39.3% Vehicle Service Hours per Employee 899.5 819.1 763.6 683.6 -24.0% Average Fare per Passenger $0.71 $0.68 $0.58 $1.06 50.4% Fare Recovery Ratio (Passenger fares only) 8.93% 8.59% 5.53% 5.79% -35.2% Fare Recovery Ratio w/local support funds(3) 21.49% 17.55% 23.74% 23.34% 8.6% Consumer Price Index - (CPI-AII) (4) 3.5% 3.4% 2.5% 2.0% 8.1% Source: (a) Annual Fiscal & Compliance Audits (b) National Transit Database Notes: (1) Operating costs exclude depreciation and vehicle leasing. (2) Includes outside CNG and hydrogen fuel sale revenues; state emission credits and CNG rebates; advertising; and interest income. Local support is calculated as the difference between total revenues shown in Note 12, and passenger fares (Combining Statement of Revenues, Expenses, and Changes in Net Positioning) of the annual audited financial statements. (3) System -wide farebox recovery is inclusive of local support funds as allowed by RCTC's Fare Box Recovery Ratio Policy. (4) Percentage change in the three-year CPI is based on the difference between the FY 2021 price index and FY 2018 price index. The annual CPI is the change in the price index from the prior year. Michael Baker International - 16 Triennial Performance Audit of SunLine Transit Agency - FYs 2019-2021 Table IV -2 SunLine Transit Agency TDA Performance Indicators SunBus - Fixed Route Performance Data and Indicators FY 2018 Audit Period % Change FY 2018-2021 FY 2019 FY 2020 FY 2021 Operating Cost (l)ia) $26,286,982 $27,310,333 $27,859,559 $24,170,286 -8.1% Total Passengers(a) 3,947,023 4,039,450 3,379,520 2,000,077 -49.3% Vehicle Service Hours(a) 231,781 228,131 225,942 192,662 -16.9% Vehicle Service Miles(a) 3,402,692 3,364,995 3,329,355 2,921,253 -14.1% Employee FTE's(a) 253 275 294 285 12.6% Passenger Fares(2)(a) $2,574,580 $2,536,138 $1,779,753 $1,990,921 -22.7% Operating Cost per Passenger $6.66 $6.76 $8.24 $12.08 81.5% Operating Cost per Vehicle Service Hour $113.41 $119.71 $123.30 $125.45 10.6% Operating Cost per Vehicle Service Mile $7.73 $8.12 $8.37 $8.27 7.1% Passengers per Vehicle Service Hour 17.0 17.7 15.0 10.4 -39.0% Passengers per Vehicle Service Mile 1.16 1.20 1.02 0.68 -41.0% Vehicle Service Hours per Employee 916.1 829.6 768.5 676.0 -26.2% Average Fare per Passenger $0.65 $0.63 $0.53 $1.00 52.6% Fare Recovery Ratio 9.79% 9.29% 6.39% 8.24% -15.9% Consumer Price Index - (CPI-AII) 3.5% 3.4% 2.5% 2.0% 8.1% Source: (a) National Transit Database Notes: (1) Data is unaudited. Audited financial statements do not provide modal breakdown. (2) Data is unaudited. Audited financial statements do not provide modal breakdown. Michael Baker International - 17 Triennial Performance Audit of SunLine Transit Agency - FYs 2019-2021 Table IV -3 SunLine Transit Agency TDA Performance Indicators SunDial - Dial -A -Ride Performance Data and Indicators FY 2018 Audit Period % Change FY 2018 - 2021 FY 2019 FY 2020 FY 2021 Operating Cost (l)ia) $5,827,953 $5,870,229 $5,790,325 $4,590,154 -21.2% Total Passengers(a) 156,292 155,332 122426 71,129 -54.5% Vehicle Service Hours(a) 66,851 65,911 58,884 54,113 -19.1% Vehicle Service Miles(a) 989,084 971,701 833,825 732,186 -26.0% Employee FTE's(a) 79 84 79 76 -3.8% Passenger Faresiziiai $325,536 $329,938 $253,113 $211,096 -35.2% Operating Cost per Passenger $37.29 $37.79 $47.41 $64.53 73.1% Operating Cost per Vehicle Service Hour $87.18 $89.06 $98.33 $84.83 -2.7% Operating Cost per Vehicle Service Mile $5.89 $6.04 $6.94 $6.27 6.4% Passengers per Vehicle Service Hour 2.3 2.4 2.1 1.3 -43.8% Passengers per Vehicle Service Mile 0.16 0.16 0.15 0.10 -38.5% Vehicle Service Hours per Employee 846.2 784.7 745.4 712.0 -15.9% Average Fare per Passenger $2.08 $2.12 $2.07 $2.97 42.5% Fare Recovery Ratio 5.59% 5.62% 4.37% 4.60% -17.7% Consumer Price Index - (CPI-AII) 3.5% 3.4% 2.5% 2.0% 8.1% Source: (a) National Transit Database Notes: (1) Data is unaudited. Audited financial statements do not provide modal breakdown. (2) Data is unaudited. Audited financial statements do not provide modal breakdown. Michael Baker International - 18 Triennial Performance Audit of SunLine Transit Agency - FYs 2019-2021 Table IV -4 SunLine Transit Agency TDA Performance Indicators Vanpool Performance Data and Indicators FY 2018 Audit Review Period % Change FY 2018 - FY 2021 FY 2019 FY 2020 FY 2021 Operating Costs(a) $445,876 $293,631 $286,129 $229,917 -48.4% Unlinked Passengers(a) 19,224 23,025 15,623 16,028 -16.6% Vehicle Service Hours(a) 4,697 5,613 3,434 3,613 -23.1% Vehicle Service Miles(a) 287,951 310,352 183,805 191,501 -33.5% Employee FTEs(a) 1.0 1.0 1.0 1.0 0.0% Passenger Fare Revenue(a) $121,917 $164,276 $108,896 $120,280 -1.3% Operating Cost per Passenger $23.19 $12.75 $18.31 $14.34 -38.2% Operating Cost per Vehicle Service Hour $94.93 $52.31 $83.32 $63.64 -33.0% Operating Cost per Vehicle Service Mile $1.55 $0.95 $1.56 $1.20 -22.5% Passengers per Vehicle Service Hour 4.09 4.10 4.55 4.44 8.4% Passengers per Vehicle Service Mile 0.07 0.07 0.08 0.08 25.4% Veh Service Hours per Employee FTE 4,697 5,613 3,434 3,613 -23.1% Average Fare per Passenger $6.34 $7.13 $6.97 $7.50 18.3% Farebox Recovery Ratio 27.3% 55.9% 38.1% 52.3% 91.3% Consumer Price Index (CPI -U) 3.5% 3.4% 2.5% 2.0% 8.1% Source: (a) National Transit Database Michael Baker International - 19 Triennial Performance Audit of SunLine Transit Agency — FYs 2019-2021 Table IV -5 SunLine Transit Agency TDA Performance Indicators Taxi Performance Data and Indicators FY 2021 Operating Costs $198,493 Unlinked Passengers 1,108 Vehicle Service Hours 1,448 Vehicle Service Miles 9,655 Employee FTEs 1.0 Passenger Fare Revenue $1,882 Operating Cost per Passenger $179.15 Operating Cost per Vehicle Service Hour $137.08 Operating Cost per Vehicle Service Mile $20.56 Passengers per Vehicle Service Hour 0.77 Passengers per Vehicle Service Mile 0.11 Veh Service Hours per Employee FTE 1,448 Average Fare per Passenger $1.70 Farebox Recovery Ratio 0.9% Consumer Price Index (CPI -U) 2.0% Source: NTD Reports Michael Baker International - 20 Triennial Performance Audit of SunLine Transit Agency — FYs 2019-2021 Graph IV -1 Operating Costs System -wide, Fixed Route, SunDial, Vanpool, & Taxi $40,000,000 $35,000,000 $30,000,000 $25,000,000 $20,000,000 $15,000,000 $10,000,000 $5,000,000 $- 4,500,000 4,000,000 3,500,000 3,000,000 2,500,000 2,000,000 1,500,000 1,000,000 500,000 FY 2018 1 FY 2019 1 FY 2020 ■ System -wide ■ Fixed Route ■ SunDial VanPool ■ Taxi Graph IV -2 Ridership System -wide, Fixed Route, SunDial, Vanpool, & Taxi FY 2018 FY 2019 1 FY 2021 FY 2020 FY 2021 ■ System -wide ■ Fixed Route ■ SunDial VanPool ■ Taxi Michael Baker International - 21 Triennial Performance Audit of SunLine Transit Agency — FYs 2019-2021 Graph IV -3 Operating Cost Per Passenger System -wide, Fixed Route, SunDial, Vanpool, & Taxi $200.00 $180.00 $160.00 $140.00 $120.00 $100.00 $80.00 $60.00 $40.00 $20.00 $- $180.00 $160.00 $140.00 $120.00 $100.00 $80.00 $60.00 $40.00 $20.00 $- __ _um I ._ FY 2018 FY 2019 FY 2020 • System -wide • Fixed Route i SunDial VanPool • Taxi 11 Graph IV -4 Operating Cost Per Vehicle Service Hour System -wide, Fixed Route, SunDial, Vanpool, & Taxi FY 2018 FY 2021 1 INI IIII FY 2019 FY 2020 • System -wide • Fixed Route • SunDial VanPool • Taxi FY 2021 Michael Baker International - 22 Triennial Performance Audit of SunLine Transit Agency — FYs 2019-2021 Graph IV -5 Passengers Per Vehicle Service Hour System -wide, Fixed Route, SunDial, Vanpool, & Taxi 20.0 18.0 16.0 14.0 12.0 10.0 8.0 6.0 4.0 2.0 0.0 60% 50% 40% 30% 20% 10% 0% h 1 Y L FY 2018 I.. 1 FY 2019 1 FY 2020 ■ System -wide ■ Fixed Route ■ SunDial VanPool ■ Taxi L Graph IV -6 Fare Recovery Ratio System -wide, Fixed Route, SunDial, Vanpool, & Taxi FY 2018 1 FY 2019 FY 2020 ■ System -wide ■ Fixed Route ■ SunDial • VanPool . Taxi 1 FY 2021 Note: System -wide fare recovery includes other revenue such as CNG revenue. Modal fares do not include other revenues. Michael Baker International - 23 Triennial Performance Audit of SunLine Transit Agency - FYs 2019-2021 Findings from Verification of TDA Performance Indicators It is noted that adverse impacts on transit service from the COVID-19 pandemic and statewide shelter -in -place order are reflected in various performance measure trends described below. The operator's response during this period is contained in the functional review section of this audit. 1. Operating cost per vehicle service hour, an indicator of cost efficiency, increased 41.0 percent system -wide from $107.07 in FY 2018 to $151.01 in FY 2021. System -wide operating costs experienced an increase of 2.8 percent between FY 2018 and FY 2019, increasing by 10.1 percent the following year and 3.5 percent between FY 2020 and FY 2021. Vehicle service hours decreased by 17.0 percent between FY 2018 and FY 2021 systemwide. 2. Operating cost per passenger, an indicator of cost effectiveness, increased 131.2 percent system -wide from $7.88 in FY 2018 to $18.21 in FY 2021. Ridership system -wide decreased by 49.3 percent during the triennial period from 4,122,539 passengers in FY 2018 to 2,088,342 passengers in FY 2021, while operating costs increased by 17.1 percent during that period. 3. Passengers per vehicle service hour, which measures the effectiveness of the service delivered, decreased 39.0 percent between FY 2018 and FY 2021 system -wide from 13.6 passengers per hour to 8.3 passengers per hour. Fixed -route operations were consistent with this trend, with a rate of decrease of 39 percent over the same period from 17.0 to 10.4 passengers per hour. SunDial operations exhibited a decrease of 43.8 percent, averaging 1.9 passengers per hour. The trend in this indicator reflects the larger decrease in passengers resulting from the COVID-19 pandemic. Conversely, the vanpool service exhibited an 8.4 percent increase in passengers per vehicle service hour over the audit period. Taxi service carried 0.8 passengers per vehicle service hour in FY2021, the inaugural year of this service. 4. Passengers per vehicle service mile, another indicator of service effectiveness, decreased 38.5 percent between FY 2018 and FY 2021 system -wide from 0.88 passengers per mile to 0.54 passengers per mile. For fixed -route operations, the number of passengers per service mile decreased by 41 percent from 1.16 to 0.68. SunDial exhibited a decrease in passengers per service mile of 38.5 percent during the audit period, from 0.16 in FY 2018 to 0.10 in FY 2021. For vanpool service, the number of passengers per service mile increased 25.4 percent from 0.07 in FY 2018 to 0.08 in FY 2021. Taxi service carried 0.11 passengers per vehicle service hour in FY2021, the inaugural year of this service. From the FY 2018 base year to FY 2021, total vehicle service miles decreased 17.6 percent system -wide. 5. Vehicle service hours per employee decreased 13.3 percent system -wide between FY 2018 and FY 2021. This decrease resulted from a net decrease in vehicle service hours of 17.0 percent and a 4.2 percent decrease in FTEs between FY 2018 and FY 2021. This measure is based on the number of employee full-time equivalents (FTE) using employee pay hours from the National Transit Data Report (NTD) and dividing by 2,000 hours per employee. Michael Baker International - 24 Triennial Performance Audit of SunLine Transit Agency — FYs 2019-2021 6. Farebox recovery exhibited an overall annual decrease of 8.6 percent system -wide between FY 2018 and 2021 based on audited data inclusive of ancillary revenues. SunLine is subject to the provisions of PUC Section 99270.1 and was required to maintain a minimum farebox recovery ratio of 17.53 percent in FY 2019; 19.74 percent in FY 2020; and 19.12 percent in FY 2021. SunLine attained the required farebox recovery standard for all three years through a combination of passenger fares and other revenue including CNG and hydrogen fuel sales, interest, and other revenues. Farebox recovery without ancillary revenue for fixed route decreased 92.4 percent, while the SunDial ADA paratransit service saw a decrease of 71.7 percent. Farebox recovery for vanpool service increased 91.3 percent over the audit period while taxi service had a 0.95 percent farebox recovery in the first year of service in FY 2021. Total system -wide revenues decreased 24.1 percent while fixed -route revenues decreased 90.9 percent and ADA paratransit revenues decreased 70.1 percent, vanpool decreased 1.3 percent and taxi passenger fares totaled $1,882 in FY 2021. It is noted that CNG and hydrogen revenue generated by SunLine from commercial sale of the fuel and from fuel rebates is a growing component of operations revenue counted toward the farebox ratio. This allowable revenue source under RCTC farebox policy comprised 33 percent of operations revenue in FY 2019, 58 percent in FY 2020, and 65 percent in FY 2021. Conclusion from the Verification of TDA Performance Indicators SunLine Transit Agency's performance indicators reflect increasing operating costs along with notable decreased in vehicle service hours and miles due to impacts of the COVID-19 pandemic. Increased revenue fleet maintenance, facility maintenance, administration costs, and personnel costs increases (pension, insurance, health coverage costs) also contributed significantly to total operating costs. The onset of the COVID-19 pandemic in March 2020 prompted SunLine to implement service reductions. The system went to Level 3 service, in which all routes were operating on a Sunday service schedule 7 days a week and with the SunRide service operating Monday through Friday only. System -wide operating costs grew by 17.1 percent during the triennial period, whereas ridership decreased system -wide 49.3 percent. System -wide vehicle service hours decreased 17.0 percent and vehicle service miles decreased 17.6 percent between FY 2019 and FY 2021. Farebox revenues decreased while operating costs increased. Local support funding, including CNG fuel sales, increased by 63.7 percent during the audit period. Michael Baker International - 25 Triennial Performance Audit of SunLine Transit Agency — FYs 2019-2021 Section V Review of Operator Functions This section provides an in-depth review of various functions within SunLine Transit Agency. The review highlights accomplishments, issues, and/or challenges that were determined during the audit period. The following functions were reviewed with staff at the SunLine Transit Agency headquarters in Thousand Palms: • Operations • Maintenance • Planning • Marketing • General Administration and Management Within some departments are subfunctions that require review as well, such as Grants Administration that falls under General Administration. Operations SunLine moved forward with a number of bold service initiatives aimed at minimizing transfers, reducing travel times, and realigning routes to growing and more productive areas. Although the COVID-19 pandemic resulted in a significant downturn in ridership, SunLine continued to maintain a forward and innovative outlook in keeping with its mission statement: To provide safe and environmentally conscious public transportation services and alternative fuel solutions to meet the mobility needs of the Coachella Valley. In 2019, SunLine announced the launch of a network redesign initiative called "SunLine Refueled." This project aimed to improve mobility, reduce the number of transfers necessary, decrease rider wait times, and offer a more user-friendly route numbering system. Rider input and public feedback was collected through 8 public hearings and 97 community outreach events, which were held in both English and Spanish. The feedback from the community was focused on speed of service and improved infrastructure such as bus shelters and benches. The resulting system was the outcome of a nearly three-year planning effort and was adapted to accommodate new travel concerns brought to light during the COVID-19 pandemic. It is the largest service overhaul SunLine had experienced in over 40 years, and has more appeal to the choice rider market. The new system was launched in phases, which streamlined the route network from 15 to 9 routes based on land use patterns. The first phase went into operation on January 3, 2021, and consisted of the consolidated fixed -route network. On January 4, 2021, the Route 10 Commuter Link was Michael Baker International - 26 Triennial Performance Audit of SunLine Transit Agency — FYs 2019-2021 introduced into service, which provides weekday service between Indio and San Bernardino. This commuter route is designed in partnership with California State University, San Bernardino (CSUSB), which participates in the funding of the service. The final phase of the network redesign, a micro -transit program called "SunRide," went into service on May 4, 2021. The service is available in four zones in Coachella Valley. Riders are able to request service via a smartphone app and be picked up at destinations within the designated zones and brought to bus stops within the same zone. Route 1X, which was scheduled to begin service in May 2021 between Indio and Palm Springs, will be operational once SunLine returns to Level 1 service. In addition, SunLine has been engaged in the repurposing of its Indio facility. This has included studying options to rehabilitate or replace the Indio satellite operating and maintenance facility, which was a former car dealership. The facility is currently utilized as a base for bus stop maintenance. The agency has applied for a grant toward renovations. The key transfer point for passengers transferring among routes in Indio is located just outside of this facility. Each route is subject to monthly metric reporting, which allows the agency to identify trends in passenger trips and route performance. SunLine is seeking to attract more choice riders. This target market is being reached through large employers in the service area and the local tourism industry. Schedules are updated three times annually in January, May, and September. The updates involve a service standard and on -time performance analysis. SunLine continues to implement its FTA compliant cancellation and no-show policy. The agency has been proactive in addressing no-shows and cancellations by calling passengers, sending follow-up letters, and informing them on how no-shows impact the system overall. Over the audit period, late cancellations and no-shows have decreased 69.17 percent and 69.84 percent, respectively, contributing to a net savings to the agency. In July 2018, SunLine and the Desert Community College District executed an MOU to implement the Haul Pass program. CSUSB-Palm Desert Campus joined the program in September 2019. Students enrolled at the community college and CSUSB-Palm Desert may swipe their student ID on -board fixed -route buses and ride at no further charge. CSUSB has covered program costs from inception. SunLine looks forward to including other college campuses in the service area, such as the University of California, Riverside, and other California State University campuses. On -time performance is one of the metrics closely monitored by the agency. SunLine maintains a summary report driven by its software program detailing on -time performance per route for each service day in the system. The data are categorized by early, late, and the percentage of trips within the on -time window. Daily and monthly averages are calculated as part of the summary. SunLine met internal on -time performance goals for both fixed -route and demand -response service throughout the audit period. The fixed -route on -time performance goal was 85 percent in FYs 2019, 2020, and 2021. For fixed -route, average on -time performance was 87.4 percent in FY 2019; 89.3 in FY 2020; and 90.5 in FY 2021. The demand -response on -time performance target was 90 percent in FYs 2019, 2020, and 2021. For demand -response, average on -time performance was 90.7 percent in FY 2019; 91.1 in FY 2020; and 96.9 percent in FY 2021. Michael Baker International - 27 Triennial Performance Audit of SunLine Transit Agency — FYs 2019-2021 Fare counting and reconciliation procedures utilize both manual and electronic handling methods. Trip sheets are counted, and revenue is recorded daily, which has resulted in more accurate accounting. There is a dedicated coin room accessible by a badge lock key, and the counting cage is equipped with multiple cameras. Vehicles are also equipped with GFI/Genfare electronic fareboxes to provide further fare collection accuracy. At the end of the day, the GFI is probed and unlocked, and the farebox vaults are exchanged. Only select administrative personnel have access to the vault keys for handling the fare. GFI software also provides financial printouts for revenue reconciliation. Following the revenue collection process, an armored vehicle picks up the farebox proceeds three times a week to deposit. In May 2019, SunLine implemented a mobile ticketing option via the Token Transit App. Once riders download the app on their smartphones, they are able to purchase fares virtually for both immediate and future use. Approximately 11 percent of the ridership utilizes mobile ticketing. The goal is to have about one-third of riders use the app. In July 2020, SunLine's Board of Directors approved its Zero Emissions Bus Rollout Plan, three years before the submission date required by the state. SunLine's plan outlines how the agency plans to implement a fully hydrogen fuel cell revenue fleet by 2035, five years prior to the 2040 deadline established by the California Air Resources Board's Innovative Clean Transit Regulation. A critical aspect of SunLine's ability to implement and support a zero -emission fleet is the agency's adoption of innovative technologies that enable them to produce renewable hydrogen at their fueling station in Thousand Palms and is made possible through partnership with Southern California gas Company. In May 2021, SunLine was a recipient of SCAG's 2021 Sustainability Award under the Clean Cities — Alternative Fuels and Infrastructure category. The agency was recognized for its legacy of serving the Coachella Valley and Riverside County with a clean -fueled fleet of vehicles. Moreover, the agency was recognized for the completion of the nation's largest hydrogen fueling station dedicated to transit, using electricity and renewable energy to generate clean hydrogen. It also is the first agency to develop a comprehensive workforce training program in transportation technologies — the West Coast Center of Excellence in Zero Emission Technology and Renewable Energy. COVID-19 Pandemic Impacts As impacts from the novel coronavirus (COVID-19) started to be realized in California, a state of emergency was declared on March 4, 2020. Subsequently, a mandatory statewide shelter -in -place order was implemented on March 19. In response to the order and pursuant to Centers for Disease Control and Prevention protocols, SunLine enacted many new protocols. Nearly all departments within the agency were affected in some way by the impacts of COVID-19; the Operations were impacted most directly. Michael Baker International - 28 Triennial Performance Audit of SunLine Transit Agency — FYs 2019-2021 On March 17, 2020, SunLine initiated fare -free service in response to the COVID-19 pandemic. Operating fare -free service allowed SunLine to require rear -door boarding for all riders without mobility impairments, drastically reducing the amount of close contact operators had with riders and therefore reducing their potential exposure to the virus. Fare -free service also provided a financial benefit to riders, during an economically challenging time for many who continued to rely on the service, especially essential workers. In response to the sudden drastic drop in ridership resulting from the stay-at-home orders, on March 21, 2020, SunLine implemented a series of service reductions. The service level categories are described as follows: • Level 1: Regular service • Level 2: On weekdays, all routes operating with frequency modifications. Saturday and Sunday service remain unchanged. • Level 3: All routes operating on a Sunday service schedule 7 days a week. SunRide service operating Monday through Friday only. • Level 4: Limited service based on available resources. Paratransit service reductions. • Level 5: No service. Level 3 service was initiated, switching service on all routes to seven -days -a -week Sunday service levels. The 10 Commuter Link, the Palm Springs Buzz, Route 20, Route 21, and Route 54 were temporarily discontinued at this service level. The reduction of service allowed SunLine to reallocate limited operator resources to those routes that were more heavily utilized during this time. On April 5, 2020, SunLine began enforcing a mask mandate as directed by the Riverside County Department of Health. This mandate required riders to wear face coverings in order to ride on any SunLine route. Operators were also required to wear face masks. In addition to the face mask mandate, SunLine took additional measures to protect the health of operators, including the installation of operator shields on all revenue vehicles. These transparent safety partitions create a physical barrier between operators and riders, helping to reduce operator exposure to the virus. Other safety measures implemented during the pandemic included increased disinfecting of vehicles using a two-step cleaning and disinfecting procedure that includes fogging with a hospital - grade disinfectant through each bus's HVAC operating system each night, installation of hand sanitizer stations on every bus, and the implementation of a mobile app that helps riders effectively practice social distancing. The myStop Mobile app allows riders to view the number of passengers on board a bus in real time so that they can make a conscious decision about whether or not to board a vehicle before it reaches their stop. On May 2, 2021, SunLine resumed fare collection and front door boarding. Personnel For FY 2021, SunLine budgeted 401 FTE employees. Most non-exempt personnel (except for some Michael Baker International - 29 Triennial Performance Audit of SunLine Transit Agency — FYs 2019-2021 hourly employees) are represented by the Amalgamated Transit Union (ATU), Local 1277 based in Los Angeles. The current MOU between SunLine and the ATU Local went into effect during the audit period on April 1, 2019, and remained in effect until March 31, 2022. Negotiation preparation began one year in advance. Research included a peer review of other transit agencies' MOUs. A facilitator was involved during the negotiation process. Article G-29 of the MOU provides a breakdown of hourly compensation based on job classification. For employees covered under the MOU, accruals for vacation and sick time off commence on the first day of employment for full-time employees. There are two more accrual rates for 1) Non - Bargaining, non-exempt and 2) Non -Bargaining, exempt classifications. Employees with one to four years of service accrue 10 vacation and 8 floating days, while those with 25 or more years of service accrue up to 30 vacation and 8 floating days. Employees accrue 3.08 hours of sick time off per 80 hours each pay period. Full-time employees and their dependents are provided employer - paid health insurance benefits. New hires are subject to a 120 -day probationary period. Employees not covered by MOU have a six-month introductory period. The selection of vacation time off is open to bid in March. Signups for shifts occur three times per year and go into effect in January, May, and September. The agency has been focused on improving attendance as part of the performance indicator management program. Absences and sick leave are tracked carefully and classified, which has resulted in fewer absences. Candidates for driver -operators are required to have a California Class B license or permit, passenger endorsement, and air brake certification prior to hire. New operators receive more than 150 hours combined of classroom and behind the wheel training. Training includes defensive driving, customer service, and ADA compliance. Two new segments were added to the curriculum, Smart Drive and Avail System. The Avail System is SunLine's electronic communication system that reduces paper manifests and run guides as well as aids with driving directions. The system makes all ADA announcements, changes destination signs, and keeps track of bus location. SunLine recruits through its website, Transit Talent, Indeed, Government Jobs/NeoGov, job fairs, veteran services, the Employment Development Department, and partnerships with local colleges. The agency also uses social media sites such as Linkedln for management and professional positions. New employee orientations are scheduled with the employee's date of joining. SunLine reports a low rate of turnover during the audit period. An employee referral program was implemented in July 2019. The pandemic brought about the need to conduct employee recruitment and interviews virtually through the Zoom videoconferencing platform. Prior to the pandemic, SunLine participated at the job fair held at the Indio Fairgrounds. The Operations office has continued to implement the reporting protocols and procedures that had been established between drivers and supervisors prior to the audit period. A new employee orientation protocol was established that is very structured and meets all federal requirements. The agency is better able to track Family and Medical Leave Act claims, state leave mandates, and workers compensation. In addition, it has been able to piggyback the California Family Rights Act and Family and Medical Leave Act programs. Employment and duty plans have been modified for Michael Baker International - 30 Triennial Performance Audit of SunLine Transit Agency - FYs 2019-2021 those employees out on workers' compensation leave. The agency has seen a reduction of workers' compensation claims as older cases have fallen off. The SunLine employee manual was last updated in April 2016. Pursuant to a prior audit recommendation, an update to the employee manual can incorporate the latest policies as well as changes that reflect the agency's organization structure and culture. SunLine provides employee medical plan benefits through the California Public Employees' Retirement System, which is able to tailor plans to family needs and conditions. Other employee benefits include the employee assistance program (EAP) and stress management classes. The EAP is tied into the agency's discipline program that requires employees to undergo anger management classes with mandatory referrals. Under the most recent MOU, represented employees contribute 3 percent to the pension plan. Operations Performance Tables V-1, V-2, V-3, and V-4 show performance metrics for SunBus, SunDial, vanpool, and taxi services, respectively. Table V-1 SunBus Transportation Performance Indicators Base Data & Performance Indicators Base Year Audit Review Period % Change FY 2018 -FY 2021 FY 2018 FY 2019 FY 2020 FY 2021 Cost for Operations $12,310,863 $12,993,726 $13,022,152 $14,042,099 14.1% Operator Salaries and Wages $6,356,399 $6,613,817 $6,597,783 $6,537,145 2.8% Cost of Fuel and Lubricants $1,238,759 $1,457,909 $1,572,251 $2,100,727 69.6% Operator Pay Hours 327,996 312,586 324,898 295,947 -9.8% Vehicle Service Hours (VSH) 231,781 228,131 225,942 192,663 -16.9% Vehicle Service Miles (VSM) 3,402,692 3,364,995 3,329,355 2,921,255 -14.1% Total Vehicle Hours 246,941 243,710 241,533 208,966 -15.4% Total Vehicle Miles 3,808,757 3,778,101 3,760,624 3,405,858 -10.6% Unlinked Passenger Trips 3,947,023 4,039,450 3,379,520 2,000,077 -49.3% Passenger Miles 27,069,767 32,850,476 25,998,612 12,102,290 -55.3% Veh Ops Cost per VSH $53.11 $56.96 $57.63 $72.88 37.2% Veh Ops Cost per VSM $3.62 $3.86 $3.91 $4.81 32.9% Veh Ops Cost per Psgr Trip $3.12 $3.22 $3.85 $7.02 125.1% Veh Ops Cost per Psgr Mile $0.45 $0.40 $0.50 $1.16 155.1% Avg Wage per Operator Pay Hour $19.38 $21.16 $20.31 $22.09 14.0% Fuel & Lubricants Cost per VSM $0.36 $0.43 $0.47 $0.72 97.5% VSH per Operator Pay Hour 0.71 0.73 0.70 0.65 -7.9% VSM per Operator Pay Hour 10.37 10.77 10.25 9.87 -4.9% Service Miles per Service Hour 14.7 14.8 14.7 15.2 3.3% Michael Baker International - 31 Triennial Performance Audit of SunLine Transit Agency - FYs 2019-2021 Base Data & Performance Indicators Base Year Audit Review Period % Change FY 2018 -FY 2021 FY 2018 FY 2019 FY 2020 FY 2021 Service Hours / Total Hours 93.9% 93.6% 93.5% 92.2% -1.8% Service Miles / Total Miles 89.3% 89.1% 88.5% 85.8% -4.0% Avg Psgr Miles per Psgr Trip 6.9 8.1 7.7 6.1 -11.8% Consumer Price Index (CPI -U) 3.5% 3.4% 2.5% 2.0% 8.1% Source: National Transit Database Reports for FY 2018 -FY 2021 SunBus operations costs saw notable changes over the triennial period, increasing by 14.1 percent. Operator salaries and wages exceeded the rate of inflation in FY 2019, increasing by 4.05 percent versus the CPI rate of 3.4 percent. In FY 2020, salaries and wages decreased by 0.24 percent versus a 2.5 percent increase in the CPI, and again in FY 2021 salaries and wages decreased by 0.92 percent while CPI increased by 2 percent. Fuel and lubricants costs increased in each year of the audit period, increasing 17.7 percent in FY 2019, 7.8 percent in FY 2020, and 33.6 percent in FY 2021. The increase in operations cost over the base year had a significant effect on the performance indicators such as cost per vehicle hour and per vehicle mile, with each increasing by 37.2 and 32.9 percent, respectively. Table V-2 SunDial Transportation Performance Indicators Base Data & Performance Indicators Base Year Audit Review Period % Change FY 2018 - FY 2021 FY 2018 FY 2019 FY 2020 FY 2021 Cost for Operations $4,151,717 $4,141,367 $4,002,114 $4,051,895 -2.4% Operator Salaries and Wages $1,698,520 $1,760,695 $1,736,275 $1,644,835 -3.2% Cost of Fuel and Lubricants $200,086 $221,283 $197,046 $205,788 2.8% Operator Pay Hours 135,001 118,970 120,167 108,656 -19.5% Vehicle Service Hours (VSH) 66,851 65,911 58,884 54,113 -19.1% Vehicle Service Miles (VSM) 989,084 971,701 833,825 732,186 -26.0% Total Vehicle Hours 75,800 75,474 69,967 64,192 -15.3% Total Vehicle Miles 1,183,817 1,182,562 1,043,480 946,875 -20.0% Unlinked Passenger Trips 156,292 155,332 122,126 71,129 -54.5% Passenger Miles 1,801,819 1,691,066 1,294,396 568,982 -68.4% Veh Ops Cost Per VSH $62.10 $62.83 $67.97 $74.88 20.6% Veh Ops Cost Per VSM $4.20 $4.26 $4.80 $5.53 31.8% Veh Ops Cost Per Psgr Trip $26.56 $26.66 $32.77 $56.97 114.4% Veh Ops Cost Per Psgr Mile $2.30 $2.45 $3.09 $7.12 209.1% Avg Wage per Operator Pay Hour $12.58 $14.80 $14.45 $15.63 24.2% Fuel & Lubricants Cost per VSM $0.20 $0.23 $0.24 $0.27 35.1% VSH per Operator Pay Hour 0.50 0.55 0.49 0.50 0.6% VSM per Operator Pay Hour 7.33 8.17 6.94 6.74 -8.0% Michael Baker International - 32 Triennial Performance Audit of SunLine Transit Agency - FYs 2019-2021 Base Data & Performance Indicators Base Year Audit Review Period % Change FY 2018 - FY 2021 FY 2018 FY 2019 FY 2020 FY 2021 Service Miles Per Service Hr 14.8 14.7 14.2 13.5 -8.5% Service Hours / Total Hours 88.2% 87.3% 84.2% 84.3% -4.4% Service Miles / Total Miles 83.6% 82.2% 79.9% 77.3% -7.4% Avg Psgr Miles per Psgr Trip 11.5 10.9 10.6 8.0 -30.6% Consumer Price Index (CPI -U) 3.5% 3.4% 2.5% 2.0% 8.1% Source: National Transit Database Reports for FY 2018 -FY 2021 SunDial operations costs decreased by 2.4 percent over the triennial period. Operator salaries and wages decreased by 3.2 percent, which is below the 8.1 percent rate of inflation for the three years. The cost of fuel and lubricants increased by 2.8 percent from the FY 2018 base year, from $200,086 in FY 2018 to $205,788 in FY 2021. Due to the significant decrease in vehicle service hours and miles and the relatively unchanged total operational cost, performance indicators such as cost per vehicle hour and vehicle mile increased by 20.6 percent and 31.8 percent, respectively. Table V-3 VanPool Transportation Performance Indicators Base Data & Performance Indicators Base Year FY 2018 Audit Review Period % Change FY 2018 -FY 2021 FY 2019 FY 2020 FY 2021 Cost for Operations $58,830 $64,262 $38,246 $42,030 -28.6% Vehicle Service Hours (VSH) 4,697 5,613 3,434 3,613 -23.1% Vehicle Service Miles (VSM) 287,951 310,352 183,805 191,501 -33.5% Total Vehicle Hours 4,697 5,613 3,434 3,613 -23.1% Total Vehicle Miles 287,951 310,352 183,805 191,501 -33.5% Unlinked Passenger Trips 19,224 23,025 15,623 16,028 -16.6% Passenger Miles 1,438,799 1,580,691 906,984 929,468 -35.4% Veh Ops Cost Per VSH $12.53 $11.45 $11.14 $11.63 -7.1% Veh Ops Cost Per VSM $0.20 $0.21 $0.21 $0.22 7.4% Veh Ops Cost Per Psgr Trip $3.06 $2.79 $2.45 $2.62 -14.3% Veh Ops Cost Per Psgr Mile $0.04 $0.04 $0.04 $0.05 10.6% Service Miles Per Service Hr 61.3 55.3 53.5 53.0 -13.5% Service Hours / Total Hours 100% 100% 100% 100% 0.0% Service Miles/Total Miles 100% 100% 100% 100% 0.0% Avg Psgr Miles per Psgr Trip 74.8 68.7 58.1 58.0 -22.5% Consumer Price Index (CPI -U) 3.5% 3.4% 2.5% 2.0% 8.1% Source: National Transit Database Reports for FY 2018 -FY 2021 Michael Baker International - 33 Triennial Performance Audit of SunLine Transit Agency — FYs 2019-2021 Vanpool operations costs decreased by 28.6 percent over the triennial period. Due to the significant decrease in vehicle service hours, miles, and operational cost, performance indicators such as cost per vehicle hour decreased by 7.1 percent and cost per vehicle miles increased 7.4 percent. Table V-4 Taxi Transportation Performance Indicators Base Data & Performance Indicators FY 2021 Cost for Operations $117,134 Cost of Fuel and Lubricants $57 Vehicle Service Hours (VSH) 1,448 Vehicle Service Miles (VSM) 9,655 Unlinked Passenger Trips 1,108 Passenger Miles 4,352 Veh Ops Cost Per VSH $80.89 Veh Ops Cost Per VSM $12.13 Veh Ops Cost Per Psgr Trip $105.72 Veh Ops Cost Per Psgr Mile $26.91 Service Miles Per Service Hr 6.7 Avg Psgr Miles per Psgr Trip 3.9 Consumer Price Index (CPI -U) 2.0% Source: National Transit Database Reports Since SunLine's taxi service went into effect in FY 2021, there are no trends to analyze within the audit period; however, initial performance indicators illustrate relatively high operational costs in relation to how many passengers were transported using the service. Vehicle operating cost per vehicle service hour and vehicle operating cost per mile in FY 2021 were $80.89 and $12.13, respectively, while vehicle operating costs per passenger trip and per passenger mile were $105.72 and $26.91, respectively. Maintenance SunLine maintains a revenue fleet of 135 vehicles (90 buses, 39 paratransit vans, and 6 vans), consisting of CNG, hydrogen fuel cell, and electric vehicles. The newest vehicles delivered during the audit period were ten 2019 New Flyer 40 -foot fixed route buses, eight 2020 ARBOC Freedom buses used for paratransit, and 2 MCI coaches for the Route 10 Commuter Link. The agency retired its fleet of 2005 Orion buses during the audit period. The Maintenance Department oversees the maintenance of vehicles, facilities, and 659 bus stops, of which 424 have shelters. SunLine's vehicle maintenance takes place at the Thousand Palms facility. The Thousand Palms facility is equipped with six maintenance bays and one overflow bay. Michael Baker International - 34 Triennial Performance Audit of SunLine Transit Agency — FYs 2019-2021 There are two in -ground, three aboveground, and two portable lifts at that facility. During the audit period, the in -ground lifts were replaced. The maintenance facility is in operation 24 hours a day, 7 days a week. All CHP terminal inspections have been conducted at the Thousand Palms facility since 2014. Approximately 12 to 14 vehicles are staged at the Indio facility where evening shift operations take place. SunLine employs 20 mechanics out of 22 mechanics budgeted for FY 2021. Entry-level mechanics start at the "C" level and will shadow the "B" and "A" level mechanics. During the audit period, specialized training for mechanics was implemented and included in the MOU for advancement from the "C" to the "A" level. Junior -level mechanics are sent to Orange County Transportation Authority's apprenticeship program. In addition, several mechanics on staff have been through the Automotive Service Excellence certification program. The SunLine Vehicle Maintenance Plan was updated in January 2022. New protocols were added and reflect the newer vehicles added to the fleet. The plan outlines the agency's preventive maintenance inspection (PMI) program based on an A -B -C -D mileage schedule. FleetNet maintenance software is utilized for PMI tracking and forecasts each category of preventative maintenance scheduled. The agency is looking to move towards more of an electronic filing format that would be more streamlined and efficient with less paperwork. Engine oil sample checks and oil changes are taken every 6,000 miles. The PMI plan is detailed in Table V-3. Mileage must be manually entered into FleetNet at the facility after bus runs since the fuel reader device does not have the capability to transfer mileage data automatically to FleetNet. All PMIs must be completed within a 10 percent plus or minus mileage window before they are due, as summarized in Table V- 5. Table V-5 SunLine Transit Agency PMI Schedule PM Type PM Due Mileage Forecast Mileage Completion Window Fixed Route APM 6,000 5,400 5,400 to 6,600 BPM 12,000 11,400 11,400 to 12,600 CPM 24,000 23,400 23,400 to 24,600 DPM 48,000 47,400 47,400 to 48,600 Dial -A -Ride APM 6,000 5,400 5,400 to 6,600 BPM 12,000 11,400 11,400 to 12,600 CPM 24,000 23,400 23,400 to 24,600 Source: SunLine Transit Agency The majority of maintenance work is performed in-house; however, any outside repairs would fall under micro -purchases including alternators, smog testing, and wheel alignments. Pre -trip inspections involve oversight of the road supervisor during the morning pull-out. At that time, the operator will report any issues to dispatch, which get conveyed to maintenance. The post -trip Michael Baker International - 35 Triennial Performance Audit of SunLine Transit Agency — FYs 2019-2021 inspection involves the operator being queried on the condition of the vehicle. The GFI fareboxes are also probed at that time. Cycle counts are performed on a monthly basis. Only supervisory staff and lead mechanics are allowed to retrieve parts. Parts are bar-coded and categorized according to vehicle make and model. SunLine maintains minimum and maximum inventory thresholds. The Finance Department conducts an annual inventory count involving personnel from accounting, procurement, and maintenance. Vehicle warranties help dictate which parts are ordered. Each part is scanned with a video checkout unit connected to the FleetNet software system. The Parts Department is camera monitored. FleetNet keeps a history of each item in inventory. This program is also utilized for cost pricing comparisons (less than $2,500). The micro -purchase threshold was increased from $3,000 to $10,000. For items or services exceeding $100,000, an Invitation for Bid or a Request for Proposals is made. The majority of inventory as measured in value is at the Thousand Palms facility. SunLine procures parts from a variety of vendors such as Napa Auto Parts, the local Ford dealership, and Carquest for the Orion vehicles. Some after -market parts are procured directly from New Flyer and Cummins. Tires are leased through a contract. Maintenance Performance Tables V-6, V-7, V-8 and V-9 show performance metrics for SunBus, SunDial, VanPool, and Taxi, respectively. Table V-6 SunBus Maintenance Performance Indicators Base Data & Performance Indicators Base Year FY 2018 Audit Review Period % Change FY 2018 - FY 2021 FY 2019 FY 2020 FY 2021 Cost for Maintenance $4,993,411 $5,173,585 $5,413,888 $5,781,209 15.8% Maintenance Pay Hours 78,857 78,173 82,535 80,629 2.2% Total Vehicle Hours 246,941 243,710 241,533 208,966 -15.4% Total Vehicle Miles 3,808,757 3,778,101 3,760,624 3,405,858 -10.6% Active Vehicles 77 88 85 89 15.6% Peak Vehicles 57 58 62 52 -8.8% Total Vehicle Failures 563 624 478 517 -8.2% Maintenance Cost per Veh Hour $20.22 $21.23 $22.41 $27.67 36.8% Maintenance Cost per Veh Mile $1.31 $1.37 $1.44 $1.70 29.5% Maintenance Cost per Active Veh $64,849 $58,791 $63,693 $64,957 0.2% Veh Hours per Maint Pay Hour 3.13 3.12 2.93 2.59 -17.2% Veh Miles per Maint Pay Hour 48.30 48.33 45.56 42.24 -12.5% Veh Hours per Active Vehicle 3,207 2,769 2,842 2,348 -26.8% Veh Miles per Active Vehicle 49,464 42,933 44,243 38,268 -22.6% Michael Baker International - 36 Triennial Performance Audit of SunLine Transit Agency - FYs 2019-2021 Base Data & Performance Indicators Base Year FY 2018 Audit Review Period % Change FY 2018 - FY 2021 FY 2019 FY 2020 FY 2021 Veh Miles Between Failures 6,765 6,055 7,867 6,588 -2.6% Spare Ratio 35.1% 51.7% 37.1% 71.2% 102.8% Consumer Price Index (CPI -U) 3.5% 3.4% 2.5% 2.0% 8.1% Source: National Transit Database Reports for FY 2018 -FY 2021 Maintenance costs for SunBus increased from $4.9 million in FY 2018 to $5.7 million in FY 2021, a 15.8 percent increase. The increase in cost is contrasted with the 8.1 percent growth in the CPI. The number of vehicle failures reported by SunLine to the FTA decreased by 8.2 percent over the audit period, going from 563 failures in FY 2018 to 517 failures in FY 2021. Maintenance costs using performance metrics such as cost per vehicle hour and per vehicle mile increased by 36.8 percent and 29.5 percent, respectively, due to the increasing cost trend. Also, miles between failures decreased 2.6 percent during the audit period, going from 6,765 miles in FY 2018 to 6,588 miles in FY 2021. Table V-7 SunDial Maintenance Performance Indicators Base Data & Performance Indicators Base Year FY 2018 Audit Review Period % Change FY 2018 - FY 2021 FY 2019 FY 2020 FY 2021 Cost for Maintenance $993,920 $1,079,850 $1,038,589 $1,184,127 19.1% Maintenance Pay Hours 16,307 18,489 19,705 19,823 21.6% Total Vehicle Hours 75,800 75,474 69,967 64,192 -15.3% Total Vehicle Miles 1,183,817 1,182,562 1,043,480 946,875 -20.0% Active Vehicles 39 48 39 39 0.0% Peak Vehicles 30 30 30 29 -3.3% Total Vehicle Failures 144 71 53 49 -66.0% Maintenance Cost Per Veh Hour $13.11 $14.31 $14.84 $18.45 40.7% Maintenance Cost Per Veh Mile $0.84 $0.91 $1.00 $1.25 48.9% Maintenance Cost Per Active Veh $25,485 $22,497 $26,630 $30,362 19.1% Veh Hours per Maint Pay Hour 4.65 4.08 3.55 3.24 -30.3% Veh Miles per Maint Pay Hour 72.60 63.96 52.96 47.77 -34.2% Veh Hours Per Active Vehicle 1,944 1,572 1,794 1,646 -15.3% Veh Miles Per Active Vehicle 30,354 24,637 26,756 24,279 -20.0% Veh Miles Between Failures 8,221 16,656 19,688 19,324 135.1% Spare Ratio 30.0% 60.0% 30.0% 34.5% 14.9% Consumer Price Index (CPI -U) 3.5% 3.4% 2.5% 2.0% 8.1% Source: National Transit Database Reports for FY 2018 -FY 2021 Michael Baker International - 37 Triennial Performance Audit of SunLine Transit Agency - FYs 2019-2021 Maintenance costs for SunDial increased 19.1 percent, exceeding the rate of inflation during the audit period. Maintenance cost performance metrics such as cost per vehicle hour and per vehicle mile both increased significantly, by 40.7 percent and 48.9 percent, respectively. Maintenance cost per vehicle increased by 19.1 percent over the audit period. SunDial vehicle miles between failures increased by 135.1 percent over the three-year period from 8,221 in FY 2018 to 19,324 in FY 2021. Table V-8 Vanpool Maintenance Performance Indicators Base Data & Performance Indicators Base Year FY 2018 Audit Review Period % Change FY 2018 - FY 2021 FY 2019 FY 2020 FY 2021 Cost for Maintenance $8,773 $27,270 $4,449 $4,522 -48.5% Total Vehicle Hours 4,697 5,613 3,434 3,613 -23.1% Total Vehicle Miles 287,951 310,352 183,805 191,501 -33.5% Active Vehicles 9 7 7 6 -33.3% Peak Vehicles 9 9 9 6 -33.3% Maintenance Cost Per Veh Hour $1.87 $4.86 $1.30 $1.25 -33.0% Maintenance Cost Per Veh Mile $0.03 $0.09 $0.02 $0.02 -22.5% Maintenance Cost Per Active Veh $975 $3,896 $636 $754 -22.7% Veh Hours Per Active Vehicle 522 802 491 602 15.4% Veh Miles Per Active Vehicle 31,995 44,336 26,258 31,917 -0.2% Spare Ratio 0.0% -22.2% -22.2% 0.0% 0.0% Consumer Price Index (CPI -U) 3.5% 3.4% 2.5% 2.0% 8.1% Source: National Transit Database Reports for FY 2018 -FY 2021 Maintenance costs for SunLine's vanpool service decreased 48.5 percent during the audit period. Maintenance cost performance metrics such as cost per vehicle hour and per vehicle mile both decreased significantly, by 33.0 percent and 22.5 percent, respectively. Maintenance cost per vehicle decreased by 22.7 percent from FY 2018 to FY 2021. Table V-9 Taxi Maintenance Performance Indicators Base Data & Performance Indicators FY 2021 Cost for Maintenance $15,991 Active Vehicles 4 Peak Vehicles 4 Maintenance Cost Per Active Veh $3,998 Spare Ratio 0.0% Michael Baker International - 38 Triennial Performance Audit of SunLine Transit Agency - FYs 2019-2021 Base Data & Performance Indicators FY 2021 Consumer Price Index (CPI -U) 2.0% Source: National Transit Database Reports for FY 2018 -FY 2021 Maintenance costs for SunLine's taxi in the first year of service totaled $15,991 with maintenance costs per active vehicle totaling $3,998. Planning SunLine prepares a Short -Range Transit Plan (SRTP) on an annual basis as part of the funding requirements of RCTC. The SRTP is developed internally and involves the solicitation of input from the nine incorporated cities and the County of Riverside. The process involves review of local municipal planning developments such as single-family housing tracts. In addition, SunLine engages the community and local stakeholder groups, including for input on unmet transit needs. Samples of stakeholders engaged during the process included Lideres Campesinas, the Leadership Counsel for Justice and Accountability, and the Torres Martinez Desert Cahuilla Indians. The SRTP covers a three-year planning horizon and establishes objectives for the agency's transit services and capital improvement program. Under the Planned Services Changes and Implementation chapter, a series of recommendations for service improvements is presented for each route or program. Performance data from TransTrack Manager is also included in the SRTP to provide an annual comparison. In adhering to the SRTP analysis element, SunLine must meet at least four out of seven discretionary performance indicators, with the exception of FY 2018-2019 where there were only targets set for six performance indicators. There is one mandatory indicator which is the farebox recovery ratio set by formula by RCTC each year. Table V-10 shows the general targets for the performance indicators during the triennial period. The RCTC shows TransTrack data compared against the targets in Table V-10. Table V-10 SunLine System -wide Performance Targets Performance Indicators FY 2018-19 Target FY 2019-20 Target FY 2020-21 Target Farebox Recovery >=17.5% >=19.7% >=20.00% Operating Cost Per Revenue Hour none <=$79.38 <=$123.43 Subsidy Per Passenger >=$5.51 & <=$7.45 >=$4.98 & <=$6.74 >=$7.73 & <=$10.45 Subsidy Per Passenger Mile >=$0.75 & <=$1.01 >=$0.56 & <=$0.76 >=$0.96 & <=$1.30 Subsidy Per Revenue Hour >=$74.83 & <=$101.23 >=$55.01 & <=$74.43 >=$90.81 & <=$122.85 Subsidy Per Revenue Mile >=$4.88 & <=$6.60 >=$4.50 & <=$6.08 >=$5.99 & <=$8.11 Passengers Per Revenue Hour >=11.56 & <=15.64 >=9.35 & <=12.65 >=9.99 & <=13.51 Passengers Per Revenue Mile >=0.76 & <=1.02 >=0.77 & <=1.04 >=0.66 & <=0.90 Source: Riverside County Transportation Commission, TransTrack Service Provider Performance Targets Report Michael Baker International - 39 Triennial Performance Audit of SunLine Transit Agency — FYs 2019-2021 According to the Performance Target Reports, SunLine met two out of six performance indicator targets for FY 2018-19; for FY 2019-20, SunLine met one of seven performance indicator targets; and in FY 2019-20 the agency met all but one performance target. On September 29, 2020, the SunLine Board of Directors approved and officially adopted SunLine's Public Transit Agency Safety Plan (PTASP). The plan, which is required by the FTA for all urbanized transit providers, must detail the processes and procedures transit providers utilize to implement Safety Management Systems as well as establishing safety performance targets. The PTASP final rule became effective in July 2019 with plan enforcement beginning in July 2021. Plan updates and agency self -certification confirming compliance is required annually. FTA will formally review SunLine's PTASP in the next federal triennial review. Marketing In its FY 2022-2024 SRTP, SunLine details implementation strategies, target audiences, and areas of focus that agency marketing initiatives will focus on to assist in branding and retaining current riders and attracting new riders. The agency uses targeted marketing of transit services through print media, including advertisements in local newspapers, as a cost-effectiveness strategy to promote its services. Marketing is also conducted through a variety of other means including social media and its website. Customer service personnel are composed of three representatives and one receptionist. The SunLine website (http://www.sunline.org/) contains information about routes, schedules, services, and fares, including a system -wide map. The website underwent a major upgrade during the audit period. Passengers are also able to purchase passes online. The website features a quick links menu bar to route and schedule information, service alerts, pass purchases, employment opportunities, taxi services, and contact links. There is also a Google trip planner and link to the SunBus Tracker Mobile App. SunLine developed the app in partnership with Avail Technologies to provide riders a real-time bus tracking system powered by global positioning system technology. SunLine also launched an auxiliary website that highlights the Refueled initiative (https://www.sunlinerefueled.org/). This website contains information about SunLine's route and service redesign including the 10 Commuter Link, SunRide rideshare service, the consolidated fixed route network, and Route 1X. In 2021, SunLine received Caltrans' Excellence in Transportation for the Refueled campaign. SunLine publishes a bilingual (English/Spanish) consolidated timetable or Rider's Guide of its routes. The Rider's Guide provides fare information, schedules, rider etiquette, SunDial information, and a system map. The guide is updated two to three times annually to reflect route and schedule changes. The agency is considering publishing fewer copies of the Rider's Guide as it expands mobile and electronic platforms. Other publications include the SunDial Curb -to -Curb ADA Paratransit Service brochure; the SunRide user guide pamphlet; the Taxi Voucher Program brochure; and the Half -Fare Program for SunBus. Information is posted at bus stops and other major activity centers such as schools, senior centers, retail outlets, and public facilities. Brochures and schedules are available on buses, at the various activity centers, and online. Michael Baker International - 40 Triennial Performance Audit of SunLine Transit Agency — FYs 2019-2021 SunLine utilizes four social media platforms: Facebook, Instagram, Twitter, and YouTube. Social media, particularly Facebook, are used to announce promotions, community events ("Pack the Bus"), service changes, and route detours. SunLine reports increased levels of followers and engagement on its social media platforms. Other social media platforms where SunLine has a presence are Linkedln and TikTok. There are creative marketing promotions and events such as the 111 Music Festival held in November that feature live musical performances on Route 111 buses as well as the Coachella Valley Arts Scene. Quick response or QR codes are utilized in marketing materials that direct users to the website. Additional technology enhancements include Wi-Fi on the buses and the SunBus Tracker, which can be accessed through the website and the myStop mobile app. The Operations office can view live footage on board the buses. The agency also continues to run advertising spots over local radio stations and Spanish -language television as well as on bus shelters and in print publications. SunLine produces an annual report highlighting the agency's accomplishments and activities for the past year. The annual report is distributed to the communities in the Coachella Valley to communicate the message that investment in transit delivers a return beyond simply helping those that ride the bus. There has been a greater emphasis on Spanish language outreach, particularly in the East Valley. The last annual report was published in May/June 2019. The agency is looking to resume publication of the report. Travel training outreach is tailored to both groups and individuals. Travel training presentations are given at area high school campuses, civic groups, senior centers, and disabled groups to provide education about destinations and services available. Individual travel training involves meeting the prospective rider at home and walking to the nearest bus stop. The agency also works with special needs individuals such as the visually impaired and the Guide Dogs of the Desert organization. Requests for travel training are facilitated through the website. SunLine encourages each one of its employees to become "Transit Ambassadors," empowered with the knowledge and communications skills to educate existing and potential riders about SunLine service and programs. SunLine is a member of the Southern California Community Outreach Transit Group, composed of peer agencies such as Foothill Transit, Orange County Transportation Authority, Metrolink, Omnitrans, and Mountain Transit. The group meets quarterly at Omnitrans and Foothills Transit offices by conference call or in person. SunLine retains an outside media consultant for graphic design, press releases, and media interface. Pursuant to the federal Civil Rights Act of 1964, a Title VI Program has been developed and adopted by the agency. Title VI of the Civil Rights Act of 1964, which requires that no person in the United States, on the grounds of race, color, or national origin, be excluded from, be denied the benefits of, or be subjected to discrimination under any program or activity receiving federal financial assistance. Program compliance includes Title VI notices and complaint forms published in English Michael Baker International - 41 Triennial Performance Audit of SunLine Transit Agency — FYs 2019-2021 and Spanish that are posted on the transit website and vehicles. SunLine's Title VI Policy Statement is posted on the website (https://www.sunline.org/civil-rights). Customer service requests and issues are logged into the COMS module in Trapeze from the feedback form on the website. The most common complaints reported pertain to bus pass -ups, missed transfers, rude operators, and the conduct of other passengers. The most common compliments received involve extra assistance provided by the operators and personable conduct. Throughout the audit period, the Marketing department undertook multiple marketing campaigns, increasing SunLine's visibility and involvement in the community. Such campaigns include: • "Get on Board" — On April 25, 2019, SunLine showcased the benefits of public transportation to the community and showed rider appreciation by handing out treats at high ridership stops. • "#CoachellaValleyStrong" — On April 29, 2020, SunLine unveiled two new bus wraps showcasing the messages "Together We Are Strong" and "Thank You to All Those Who Have Kept Us Moving." These buses act as a tribute to essential workers during the COVID- 19 pandemic and aimed to unify the nine cities and unincorporated areas of the Coachella Valley. • "Ride with Confidence" — In July 2020, SunLine launched this campaign to highlight the work the agency has done to maintain the health and safety of its service throughout the pandemic, intended to help bolster the public's trust and improve the perception of public transit in the area. • "A Drive to Change Lives" — As part of National Travel & Tourism Week, on May 7, 2021, SunLine partnered with the Greater Palm Springs Convention & Visitor Bureau to host a donation drive benefitting "Well in the Desert." This organization provides clothing, showers, cooling centers, and hot meals to individuals in need in the Western Coachella Valley. • Annual Student Art Contest — SunLine invites students in grades K through9 to submit art showcasing themes including sustainability and public transit in the community. The winning students' artwork is showcased on the bus wrap of an in-service bus for the following year. General Administration and Management SunLine is a JPA made up of the nine incorporated cities in the Coachella Valley and the County of Riverside. The 10 -member Board of Directors is composed of elected officials from each of the nine incorporated cities plus a representative from the Riverside County Board of Supervisors, Fourth District. The Board meets 10 times each year on the fourth Wednesday of the month at noon. The July and August meetings are combined and usually held on the last Wednesday in July. The November and December meetings are also combined and are held on the first Wednesday in December. Special meetings may be convened by the chairman as needed. The chair and vice - Michael Baker International - 42 Triennial Performance Audit of SunLine Transit Agency — FYs 2019-2021 chair are elected by the other board members for annual terms that commence on July 1 of each year. Prior to the pandemic, all meetings were being held in the Board Room at the SunLine Transit Agency Thousand Palms Administration Building located at 32-505 Harry Oliver Trail. Pursuant to the Governor's Executive Orders issued on March 4, 2020, and March 18, 2020, Board and committee meetings were moved to the Zoom videoconferencing platform. Serving in an advisory role to the Board are five standing committees: Finance/Audit Committee, Board Operations Committee, Strategic Planning & Operational Committee, Taxi Committee, and ACCESSS Advisory Committee. The committees have been more empowered and engaged by bringing more items before the Board. Restructuring efforts have been ongoing over the past two audit periods and include the creation of three new chief positions and adjustments to which departments report to each chief. The agency's five departments are summarized below in Table V-11: Table V-11 SunLine Departmental Structure Department/Office Key Functions & Responsibilities Executive Office Responsible for the overall administration and operation of the agency. This office provides support to the agency Board of Directors and maintains all records of the agency's business. Performance Management Office Responsible for improving the overall efficiency of the systems and processes that support SunLine daily operations. This office focuses on maximizing performance across all agency functions through ongoing performance reviews. It oversees the management of SunFuels, and key capital projects. Safety and Security Office Responsible for providing a safe working environment for employees and ensuring the safety of all passengers. This office investigates and documents all traffic collisions, passenger injuries, and incidents that might cause a liability to the agency. The department is also responsible for reporting to various federal and state regulatory agencies such as Cal -OSHA and the National Transit Database, training all new fixed -route and paratransit operators, and conducting ongoing perishable skills training and remedial training for employees involved in preventable incidents. Operations Office Focuses on all aspects of quality service delivery by utilizing staff, fleet, facilities, and equipment. Finance Office Responsible for the budget, accounting, sales, contracts/procurement, materials management and inventory control, warranty administration, cash management, investment portfolio, payroll, risk management and lost and found for the agency. The office is also responsible for the development of all financial statements, coordination of financial audits, and development of sales and taxation documents and specialized reports for SunFuels. Michael Baker International - 43 Triennial Performance Audit of SunLine Transit Agency — FYs 2019-2021 Department/Office Administration Office Key Functions & Responsibilities Provides a wide range of support functions for SunLine Transit Agency, including Human Resources, Information Technology, Service Planning, and Community and Customer Relations. Source: SunLine Transit Agency The agency's budget process commences in January. The Finance Department compiles two years of information along with current year projections. Protected spreadsheets are sent out to department heads and followed up by a series of three to four meetings with each department. Budget requests are reviewed by the budget analyst and CFO who in turn review the budget data with the CEO/General Manager. A final budget draft is presented to the Board in May for comment as an information item, adopted in June, and becomes effective July 1. The agency's most recent FTA triennial review during the audit period was conducted on June 10, 2019 (scoping meeting) with site visits on August 29 and 30, 2019. The final report was completed October 24, 2019. No deficiencies were found in any of the 21 areas of FTA requirements. The agency received its triennial review closeout letter on October 24, 2019. SunLine University SunLine has implemented several initiatives to nurture career growth and advancement and provide greater empowerment in decision -making. SunLine University was created in-house and offers in -services courses for employee development. This program is managed under the Performance Office. Employees from different departments are invited to participate in reviewing other department performance metrics and interact with different staff to ask questions about their office performance. These reviews are structured regularly on a monthly basis. The training provided to employees in different departments has enabled more management level advancement for a number of younger personnel who will be in line to succeed higher -level managers. An employee referral program was also implemented in July 2019. The employee handbook was last updated in April 2016 and does not reflect these developments, including modifications to and formalization of the organization chart and movement of personnel positions. An update to the employee handbook can incorporate these latest policies as well as changes that reflect the agency's organization structure and culture. Administrative Performance Tables V-12, V-13, V-14, and V-15 show performance indicators for administration relative to SunBus, SunDial, VanPool, and Taxi operations, respectively. Michael Baker International - 44 Triennial Performance Audit of SunLine Transit Agency - FYs 2019-2021 Table V-12 SunBus Administrative Performance Indicators Base Data & Performance Indicators Base Year FY 2018 Audit Review Period % Change FY 2018 - FY 2021 FY 2019 FY 2020 FY 2021 Costs for Administration $8,982,708 $9,143,022 $9,423,519 $11,699,605 30.2% Administration Pay Hours 99,575 111,645 117,226 123,999 24.5% Vehicle Service Hours (VSH) 231,781 228,131 225,942 192,663 -16.9% Vehicle Service Miles (VSM) 3,402,692 3,364,995 3,329,355 2,921,255 -14.1% Unlinked Passenger Trips 3,947,023 4,039,450 3,379,520 2,000,077 -49.3% Passenger Miles 27,069,767 32,850,476 25,998,612 12,102,290 -55.3% Admin Cost Per VSH $38.76 $40.08 $41.71 $60.73 56.7% Admin Cost Per VSM $2.64 $2.72 $2.83 $4.00 51.7% Admin Cost per Psgr Trip $2.28 $2.26 $2.79 $5.85 157.0% Admin Cost per Psgr Mile $0.33 $0.28 $0.36 $0.97 191.3% VSH per Admin Pay Hour 2.33 2.04 1.93 1.55 -33.2% VSM per Admin Pay Hour 34.17 30.14 28.40 23.56 -31.1% Consumer Price Index (CPI -U) 3.5% 3.4% 2.5% 2.0% 8.1% Source: National Transit Database Reports for FY 2018 -FY 2021 As shown in the National Transit Database, administrative costs allocated to fixed -route service increased by 30.2 percent during the period between FYs 2018 and 2021. The primary increase was for the liability cost item in the NTD report (including insurance premiums), which increased by over 70 percent in the past three years. As a result of the increase in administrative costs and decrease in service miles, service hours, and ridership, performance indicators measured by cost per vehicle hour, vehicle mile, and per passenger trip showed significant increases as illustrated by growth in each cost measure. Table V-13 SunDial Administrative Performance Indicators Base Data & Performance Indicators Base Year FY 2018 Audit Review Period % Change FY 2018 - FY 2021 FY 2019 FY 2020 FY 2021 Costs for Administration $682,316 $649,012 $749,622 $908,091 33.1% Administration Pay Hours 6,793 7,215 7,724 5,282 -22.2% Vehicle Service Hours (VSH) 66,851 65,911 58,884 54,113 -19.1% Vehicle Service Miles (VSM) 989,084 971,701 833,825 732,186 -26.0% Unlinked Passenger Trips 156,292 155,332 122,126 71,129 -54.5% Passenger Miles 1,801,819 1,691,066 1,294,396 568,982 -68.4% Admin Cost Per VSH $10.21 $9.85 $12.73 $16.78 64.4% Admin Cost Per VSM $0.69 $0.67 $0.90 $1.24 79.8% Admin Cost per Psgr Trip $4.37 $4.18 $6.14 $12.77 192.4% Michael Baker International - 45 Triennial Performance Audit of SunLine Transit Agency - FYs 2019-2021 Base Data & Performance Indicators Base Year FY 2018 Audit Review Period % Change FY 2018 - FY 2021 FY 2019 FY 2020 FY 2021 Admin Cost per Psgr Mile $0.38 $0.38 $0.58 $1.60 321.5% VSH per Admin Pay Hour 9.84 9.14 7.62 10.24 4.1% VSM per Admin Pay Hour 145.60 134.68 107.95 138.62 -4.8% Consumer Price Index (CPI -U) 3.5% 3.4% 2.5% 2.0% 8.1% Source: National Transit Database Reports for FY 2018 -FY 2021 Administrative costs allocated to Dial -A -Ride service as shown in the National Transit Database increased significantly for the period between FYs 2018 and 2021. Costs increased by 33.1 percent, while administrative pay hours allocated to Dial -A -Ride decreased. Similar to fixed route, the primary increase was for the liability cost item in the NTD report (including insurance premiums), which increased by more than two -fold in the past three years. As a result of the increase in costs coupled with decreases in vehicle hours, vehicle miles, and ridership, performance indicators measured by cost per vehicle hour, per vehicle mile, and per passenger trip showed significant increased as illustrated by growth in each cost measure. Table V-14 VanPool Administrative Performance Indicators Base Data & Performance Indicators Base Year Audit Review Period % Change FY2018- FY 2021 FY 2018 FY 2019 FY 2020 FY 2021 Costs for Administration $378,273 $202,099 $243,434 $183,365 -51.5% Vehicle Service Hours (VSH) 4,697 5,613 3,434 3,613 -23.1% Vehicle Service Miles (VSM) 287,951 310,352 183,805 191,501 -33.5% Unlinked Passenger Trips 19,224 23,025 15,623 16,028 -16.6% Passenger Miles 1,438,799 1,580,691 906,984 929,468 -35.4% Admin Cost Per VSH $80.54 $36.01 $70.89 $50.75 -37.0% Admin Cost Per VSM $1.31 $0.65 $1.32 $0.96 -27.1% Admin Cost per Psgr Trip $19.68 $8.78 $15.58 $11.44 -41.9% Admin Cost per Psgr Mile $0.26 $0.13 $0.27 $0.20 -25.0% Consumer Price Index (CPI -U) 3.5% 3.4% 2.5% 2.0% 8.1% Source: National Transit Database Reports for FY 2018 -FY 2021 Administrative costs allocated with vanpool service, as shown in the National Transit Database, decreased significantly for the period between FYs 2018 and 2021. Costs decreased by 51.5 percent over the audit period, while administrative costs per vehicle service hour and vehicle service mile decreased by 37.0 percent and 27.1 percent, respectively. Administrative costs per passenger trip and per passenger mile also decreased significantly over the audit period, by 41.9 percent and 25.0 percent, respectively. Michael Baker International - 46 Triennial Performance Audit of SunLine Transit Agency — FYs 2019-2021 Table V-15 Taxi Administrative Performance Indicators Base Data & Performance Indicators FY 2021 Costs for Administration $65,368 Vehicle Service Hours (VSH) 1,448 Vehicle Service Miles (VSM) 9,655 Unlinked Passenger Trips 1,108 Passenger Miles 4,352 Admin Cost Per VSH $45.14 Admin Cost Per VSM $6.77 Admin Cost per Psgr Trip $59.00 Admin Cost per Psgr Mile $15.02 Consumer Price Index (CPI -U) 2.0% Source: National Transit Database Reports for FY 2018 -FY 2021 In the first year of taxi service, the total costs of administrative for the service mode totaled $65,368 in FY 2021 while the administrative cost per vehicle service hour and vehicle service mile totaled $45.14 and $6.77, respectively. Administrative costs per passenger trip and per passenger mile totaled $59.00 and $15.02, respectively. Performance Management SunLine utilizes a metric -focused performance management initiative to ensure accountability and transparency. SunLine applies performance metrics to continuously review and improve its operations in at least three areas —growing efficiencies, meeting compliance with rules and regulations, and better serving the customer. Since this initiative launched, SunLine has worked to restructure the organization in an attempt to shift the organizational culture. Since the last audit period, SunLine has continued restructuring efforts, most notably incorporating three new Chief positions to its organizational chart: Chief of Public Affairs, Chief of Human Relations, and Chief Planning Officer. With these new positions, multiple departments were realigned to report to a new or different chief. Led by the Chief Performance Officer, monthly administrative and operations performance indicator reviews are conducted that involve a panel of three to four staff members reviewing data to determine trends and efficiencies. A detailed Performance Management system is maintained that reports on key performance indicators for each department. Staff are given ownership to present their own performance measures from their respective operational departments. Key performance indicators are selected for data collection and review as part of goal setting and development of dashboard performance measures. Data are made accessible to the public in the Board packets and on the agency's website. SunLine management recognizes the importance of Michael Baker International - 47 Triennial Performance Audit of SunLine Transit Agency — FYs 2019-2021 making the performance management system a living program and looks to refocus some of its metrics program to account for the suite of evolving and new services such as SunRide microtransit. Grants Management The Performance Management Office oversees key capital projects and monitors grant activity and milestones. The office has been tasked with upgrading the agency's Capital Improvement Program as well as prioritizing grant fund balances to be spent down. This effort has resulted in helping to better align revenues with expenditures which are tracked through key performance indicators. Older grant funds have been used toward the Operations Facility. SunLine utilizes grant funding from local, state, and federal sources to support operations and capital procurement and projects. Grant status is tracked on a grant summary spreadsheet that is configured based on the project type or operational function. The grants summary worksheet details the original grant, budgeted and expended amounts, and remaining grant funds. Estimated completion dates are identified while closed grants are highlighted. A grants analyst keeps track of the status of each grant and ensures the sign -off by the project initiation team. This process also involves the review and approval of allowable expenditures. The analyst is also responsible for programming projects into the SRTP for submittal to RCTC. FTIP programming sheets are submitted by RCTC to SCAG. The senior accountant is authorized to expedite FTA Electronic Clearing House Operation requests. SunLine employs stringent financial control procedures that include a check signing protocol requiring two wet signatures. Any checks issued over $50,000 require the signatures of the CEO and one Board member. Checks issued between $25,000 and $50,000 require the signatures of the CEO and CFO. Checks issued under $25,000 involve monthly drawdowns. Prompted by the COVID-19 emergency declaration, SunLine added two positions that have signature authority. Grant funds are derived from FTA Sections 5307, 5310, 5311, and 5339 as well as the State Proposition 1B Public Transportation Modernization, Improvement & Service Enhancement Account program, California Transit Assistance Fund, State Transit Assistance, Low Carbon Transit Operations Program, California Energy Commission, federal Congestion Mitigation and Air Quality program, and the California Air Resources Board. Funding for operations is based on a 50/50 federal and state revenue split. SunLine has been utilizing more toll credits as a match for federal grants. Michael Baker International - 48 Triennial Performance Audit of SunLine Transit Agency - FYs 2019-2021 Section VI Statement of Facts The following summarizes factual events and trends obtained from this triennial audit covering fiscal years 2019 through 2021. A set of recommendations is then provided. 1. Of the nine compliance requirements pertaining to SunLine Transit Agency, the operator fully complied with all nine applicable requirements. Two additional compliance requirements did not apply to SunLine (i.e., separate urbanized and rural farebox recovery ratios). 2. SunLine is subject to an intermediate farebox recovery ratio standard set by RCTC pursuant to PUC Section 99270.1. The intermediate ratio is a blended ratio that accounts for both rural and urbanized areas. The minimum farebox recovery ratios that SunLine was required to meet were 17.53 percent in FY 2019; 19.74 percent in FY 2020; and 19.12 percent in FY 2021. SunLine's farebox recovery ratios based on audited data were 17.55 percent in FY 2019; 23.74 percent in FY 2020; and 23.34 percent in FY 2021. SunLine exceeded the minimum standard in all three audit years. The average farebox recovery ratio was 21.54 percent. 3. SunLine Transit Agency participates in the CHP Transit Operator Compliance Program and received vehicle inspections within the 13 months prior to each TDA claim. Inspections conducted during the audit period were rated satisfactory. All fixed -route and Dial -a -Ride vehicles were inspected at SunLine's Thousand Palms facility. 4. The annual changes in the operating budget exhibited moderate increases during the audit period. SunLine's budget for FY 2019 increased by 11.5 percent, by 5.0 percent in FY 2020, and by zero percent in FY 2021. 5. SunLine partially implemented the two prior audit recommendations. The first recommendation, pertaining to the update of the employee handbook, was temporarily placed on hold during the COVID-19 pandemic but update has resumed in late 2021/early 2022. The second recommendation pertained to the coordination of intelligent transportation infrastructure implementation in the Coachella Valley. Both recommendations have been carried forward in this audit for full implementation. 6. Operating cost per vehicle service hour, an indicator of cost efficiency, increased 41.0 percent system -wide from $107.07 in FY 2018 to $151.01 in FY 2021. System -wide operating costs experienced an increase of 2.8percent between FY 2018 and FY 2019, increasing by 10.1 percent the following year and 3.5 percent between FY 2020 and FY 2021. Vehicle service hours decreased by 17.0 percent between FY 2018 and FY 2021. 7. Operating cost per passenger, an indicator of cost effectiveness, increased 131.2 percent system -wide from $7.88 in FY 2018 to $18.21 in FY 2021. Ridership system -wide decreased by Michael Baker International - 49 Triennial Performance Audit of SunLine Transit Agency - FYs 2019-2021 49.3 percent during the triennial period from 4,122,539 passengers in FY 2018 to 2,088,342 passengers in FY 2021, while operating costs increased by 17.1 percent during that period. 8. Passengers per vehicle service hour, which measures the effectiveness of the service delivered, decreased 39.0 percent between FY 2018 and FY 2021 system -wide from 13.6 passengers per hour to 8.3 passengers per hour. Fixed -route operations were consistent with this trend, with a rate of decrease of 39 percent over the same period from 17.0 to 10.4 passengers per hour. SunDial operations exhibited a decrease of 43.8 percent, averaging 1.9 passengers per hour. The trend in this indicator reflects the larger decrease in passengers resulting from the COVID- 19 pandemic. Conversely, vanpool service exhibited an 8.4 percent increase in passengers per vehicle service hour over the audit period. Taxi service carried 0.8 passengers per vehicle service hour in FY2021, the inaugural year of this service. 9. Passengers per vehicle service mile, another indicator of service effectiveness, decreased 38.5 percent between FY 2018 and FY 2021 system -wide from 0.88 passengers per mile to 0.54 passengers per mile. For fixed -route operations, the number of passengers per service mile decreased by 41 percent from 1.16 to 0.68. SunDial exhibited a decrease in passengers per service mile of 38.5 percent during the triennial period, from 0.16 in FY 2018 to 0.10 in FY 2021. For VanPool service, the number of passengers per service mile increased 25.4 percent from 0.07 in FY 2018 to 0.08 in FY 2021. Taxi service carried 0.11 passengers per vehicle service hour in FY2021, the inaugural year of this service. From the FY 2018 base year to FY 2021, total vehicle service miles decreased 17.6 percent system -wide. 10. In 2019, SunLine announced the launch of a network redesign initiative called "SunLine Refueled." This project aimed to improve mobility, reduce the number of transfers necessary, decrease rider wait times, and offer a more user-friendly route numbering system. The new system was launched in phases, which streamlined the route network from 15 to 9 routes based on land use patterns. 11. In May 2019, SunLine implemented a mobile ticketing option via the Token Transit App. Once riders download the app on their smartphones, they are able to purchase fares virtually for both immediate and future use. Approximately 11 percent of the ridership utilizes mobile ticketing. The goal is to have about one-third of riders use the app. 12. SunLine implemented measures and protocols to mitigate the spread of COVID-19. On March 17th, 2020, SunLine initiated fare -free service Level 3 Service was initiated, switching service on all routes to seven -days -a -week Sunday service levels. The reduction of service allowed SunLine to reallocate limited operator resources to those routes that were more heavily utilized during this time. 13. In May 2021, SunLine was a recipient of SCAG's 2021 Sustainability Award under the Clean Cities -Alternative Fuels and Infrastructure category. The agency was recognized for its legacy of serving the Coachella Valley and Riverside County with a clean -fueled fleet of vehicles. Moreover, the agency was recognized for the completion of the nation's largest hydrogen Michael Baker International - 50 Triennial Performance Audit of SunLine Transit Agency — FYs 2019-2021 fueling station dedicated to transit, using electricity and renewable energy to generate clean hydrogen. 14. SunLine's most recent FTA triennial review during the audit period was conducted on June 10, 2019 (scoping meeting) with site visits on August 29 and 30, 2019. The final report was completed October 24, 2019. No deficiencies were found in any of the 21 areas of FTA requirements. The agency received its triennial review closeout letter in on October 24, 2019. Michael Baker International - 51 Triennial Performance Audit of SunLine Transit Agency — FYs 2019-2021 Recommendations 1. Resume update of the employee handbook that would address remote work and other changes to the work culture. This recommendation is being carried forward for full implementation. The employee handbook was last updated in April 2016. Since that time, the latest MOU between SunLine and the Amalgamated Transit Union has included provisions for specialized training opportunities and employee contributions to the pension plan. In addition, SunLine has implemented several initiatives to nurture career growth and advancement. SunLine University offers in -services courses for employee development. A pilot employee referral program was also implemented in July 2019. Due to the COVID-19 pandemic, SunLine Transit Agency has temporarily placed the employee handbook update initiative on hold. SunLine's Human Resources Department has indicated that the update resumed in late 2021/early 2022 and has convened three meetings pertaining to the handbook. Given the recent pivot to remote work and the use of videoconferencing through platforms such as Zoom, such an update is timely and could address such changes in the organizational culture. 2. Continue efforts to coordinate opportunities for SunLine transit redesign with intelligent transportation infrastructure in the Coachella Valley. This recommendation is being carried forward for full implementation. The express route that SunLine planned to implement that would address this recommendation was delayed due to COVID-19. Route 1X, which was scheduled to begin service in May 2021 between Indio and Palm Springs, will be operational once SunLine returns to Level 1 service in FY 2022. SunLine has emphasized its commitment to work with CVAG on transit needs in the area and will continue to closely monitor the progress of the traffic signal prioritization project as well as other transit infrastructure projects in the region. Given that other facets of the SunLine Refueled plan have been implemented, SunLine already has the momentum towards engaging its local partners in implementing vehicle technology and related intelligent infrastructure, such as transit priority systems. Michael Baker International - 52 ATTACHMENT 8 RIVERSIDE COUNTY TRANSPORTATION COMMISSION FY 2019-2021 Triennial Performance Audit of Palo Verde Valley Transit Agency September 2022 Submitted to: Riverside County Transportation Commission Submitted by: Michael Baker INTERNATIONAL TABLE OF CONTENTS Section I 1 Introduction 1 Overview of the Transit System 1 Section II 6 Operator Compliance Requirements 6 Section II I 12 Prior Triennial Performance Recommendations 12 Section IV 14 TDA Performance Indicators 14 Section V 21 Review of Operator Functions 21 Operations 21 Maintenance 26 Planning 27 Marketing 29 General Administration and Management 30 Section VI 32 Statement of Facts 32 Recommendations 34 Triennial Performance Audit of Palo Verde Valley Transit Agency — FYs 2019-2021 Section 1 Introduction California's Transportation Development Act (TDA) requires that a triennial performance audit be conducted of public transit entities that receive TDA revenues. The performance audit serves to ensure accountability in the use of public transportation revenue. The Riverside County Transportation Commission (RCTC) engaged Michael Baker International to conduct the TDA triennial performance audit of the public transit operators under its jurisdiction in Riverside County. This performance audit is conducted for the Palo Verde Valley Transit Agency (PVVTA, Agency) covering the most recent triennial period, fiscal years 2018-2019 through 2020- 2021. The purpose of the performance audit is to evaluate the transit agency's effectiveness and efficiency in its use of TDA funds to provide public transportation in its service area. This evaluation is required as a condition for continued receipt of these funds for public transportation purposes. In addition, the audit evaluates the transit agency's compliance with the conditions specified in the California Public Utilities Code (PUC). This task involves ascertaining whether the transit agency is meeting the PUC's reporting requirements. Moreover, the audit includes calculations of transit service performance indicators and a detailed review of the transit administrative functions. From the analysis that has been undertaken, a set of recommendations has been made which is intended to improve the performance of transit operations. In summary, this TDA audit affords the opportunity for an independent, constructive, and objective evaluation of the organization and its operations that otherwise might not be available. The methodology for the audit included in -person interviews with management, collection and review of Agency documents, data analysis, and on -site observations. The Performance Audit Guidebook for Transit Operators and Regional Transportation Planning Entities, published by the California Department of Transportation (Caltrans), was used to guide the development, and conduct of the audit. Overview of the Transit System Under a Joint Powers Agreement (JPA) between the County of Riverside and the City of Blythe executed on January 24, 1978, PVVTA was created to provide demand -response and fixed -route transit service branded as PVVTA to the City of Blythe, the adjacent unincorporated areas of Riverside County, and neighboring Ehrenberg, Arizona. PVVTA currently operates as a deviated fixed -route system. Prior to the creation of PVVTA, there were no transit services in the Palo Verde Valley. PVVTA services are operated under contract by Irvine -based Transportation Concepts, Inc. Based on the 2020 US Census, Blythe's population was 18,317, showing a population decrease of 12 percent since the 2010 US Census. The senior citizen population, comprising residents aged 65 and over, is 9.8 percent. The 2021 population for Blythe is estimated to be 18,556 as reported by the Michael Baker International -1 Triennial Performance Audit of Palo Verde Valley Transit Agency — FYs 2019-2021 California Department of Finance, Population Estimates for Cities, Counties, and the State, January 1, 2021. The city covers a 26.19 -square -mile area. Agriculturally based and a winter "snow bird" destination, Blythe is located on the California -Arizona border along the Colorado River and serves as a commercial center for eastern Riverside County. The area's population varies seasonally. The area's largest employer is the California State Department of Corrections and Rehabilitation, which operates the Chuckawalla Valley and Ironwood State Prisons, located approximately 20 miles west of Blythe. Major highway connections serving Blythe and the Palo Verde Valley are Interstate 10 (1-10), State Route (SR) 78 and US Highway 95. 1-10 is the main east —west highway connecting Blythe with the Coachella Valley and Inland Empire to the west and Arizona to the east. SR 78 connects Blythe with the community of Ripley and the Imperial Valley to the southwest. US Highway 95 runs northerly along the Colorado River to Needles. Major arterial streets traversing Blythe include Broadway, Hobsonway, Intake Boulevard, Lovekin Boulevard, and 7th Street. System Characteristics PVVTA operates a deviated fixed -route system. The transit system operates Monday through Friday from 5:20 a.m. to 6:25 p.m. and Saturdays from 8:10 a.m. to 12:10 p.m. PVVTA does not operate on Sundays and the following holidays: New Year's Day, Martin Luther King Jr. Day, Presidents' Day, Memorial Day, Independence Day, Labor Day, Columbus Day, Veterans Day, Thanksgiving Day, and Christmas Day. Only Silver Route 5 operates the day following Thanksgiving, Christmas Eve, and New Year's Eve. Red Route 3 Express does not operate on any observed California state or federal holiday. PVVTA's deviated fixed -route services during the audit period are summarized in Table 1-1. Table 1-1 PVVTA Route Summary Route Description Frequency/Operation Key Time Points Blue Route 1 City of Blythe Weekdays; every 60 • Kmart Transfer Center Circulator minutes; approximately 30 minutes at peak (from • Palo Verde High School • 7th Street/Rite Aid • 14th Avenue/7th Street 6:25 a.m. to 5:40 p.m.) • Juliana Lane at Casa Encinas (must call to request pick up) • Palo Verde Hospital • Civic Center Gold Route 2 Palo Verde College Weekdays; every 60 • Hobsonway WB/7th Crosstown minutes (from 6:45 a.m. to 4:35 p.m.) Street • Palo Verde Hospital • Civic Center • Kmart Transfer Center • Palo Verde College • 7th Street/Rite Aid Michael Baker International -2 Triennial Performance Audit of Palo Verde Valley Transit Agency — FYs 2019-2021 Route Description Frequency/Operation Key Time Points • Hobsonway/Intake US 95 Red Route 3 Express Peak Service to California State Prisons Weekdays; three a.m. peak trips and three p.m. peak trips (from 5:20 a.m. to 4:30 p.m.); no service on Thanksgiving Day, day after Thanksgiving, Christmas Eve, Christmas Day, New Year's Eve • Main Street Park & Ride • Palos Verde Hospital • Hobsonway/SR 78 Neighbours (must call to request pick up) • Hobsonway WB/Mesa (must call to request pick up) • Carlton at DPSS (must call to request pick up) • Chuckawalla Valley State Prison • Ironwood State Prison Green Route 4 Rural Rider Ripley/Mesa Verde Weekdays; five round trips (from 7:00 a.m. to 6:25 p.m. — with the 5:30 p.m. trip offered upon request only). Note: Service to Ehrenberg, AZ, was eliminated from this route. • 7th Street/Rite Aid • Kmart • Hobsonway/SR 78 Neighbours • Ripley — Desert Rose Apts. • Mesa Verde — Roy Wilson Community Center Silver Route 5 Saturday & In -Service Holidays Blythe/Ripley/Mesa Verde Saturdays & in-service holidays (day after Thanksgiving, Christmas Eve, New Year's Eve); three round trips (from 8:10 a.m. to 12:10 p.m.) • Kmart Transfer Center • 7th Street East/Albertsons • Hobsonway/Intake US 95 • Hobsonway/SR-78 Neighbours • Ripley — Desert Rose Apts. • Mesa Verde — Roy Wilson Community Center (must call to request pick up) Route 6 Wellness Express On -Demand Blythe Wellness Express One round trip Monday, Wednesday, & Friday (departing Blythe @ 6:30 a.m., returning @ 4:00 p.m.) • Main Street Park and Ride • Mesa Verde • Desert Center Post Office Michael Baker International -3 Triennial Performance Audit of Palo Verde Valley Transit Agency — FYs 2019-2021 Route Description Frequency/Operation Key Time Points • Chiriaco Summit • Hwy 111 @ Flower SunLine Transfer Center • Indio-JFK Hospital • Rancho Mirage — Eisenhower Med Center • Palm Springs — Desert Regional Med Center Source: PVVTA Desert RoadTRIP Desert RoadTRIP is short for the Desert Road Transportation Reimbursement and Information Project, which is a partnership between PVVTA and the Partnership to Preserve Independent Living for Seniors and Persons with Disabilities. Since 1995, the Desert RoadTRIP program has offered this specialized transit service for seniors 60 years of age and disabled persons living in isolated locations in the Palo Verde Valley and eastern Riverside County, who are unable to drive and do not have access to transportation. This service utilizes qualified volunteer drivers, who are reimbursed on a mileage basis. The volunteer drivers are required to have a valid driver's license, a registered vehicle, and auto liability insurance. Each qualified rider identifies his/her own volunteer driver. The driver could be a family friend, neighbor, or some other trusted individual known to the rider. The eligible rider files a reimbursement claim based on the mileage traveled during the month with Desert RoadTRIP and, after receiving the claim, reimburses the driver. The reimbursement is paid at $0.32 per mile. An individual is allowed up to 460 miles per month, and an eligible family is entitled to 690 miles per month. A $5.00 per one- way trip fee is charged to riders. A 2018 SRTP recommendation is for Desert RoadTRIP to be integrated into the Blythe Wellness Express to expand the service to Riverside University Medical Center in Moreno Valley and medical services in Loma Linda. X -Tend -A -Ride In addition to PVVTA's fixed route, Blythe Wellness Express, and Desert RoadTRIP services, the X - Tend -A -Ride demand -responsive service operates during special events during the evening or on non - service days. The service is accessible to the public for $5.00 a trip. It is designed to be a guaranteed ride home service when the regular fixed route is not in operation. Fares On June 20, 2018, the PVVTA Board of Directors adopted a new fare schedule; new fare rates went into effect on July 1, 2019. PVVTA's fares are structured based on passenger, route, and service type. Multi -trip passes are also available for purchase in person or by mail at the PVVTA operations office at 415 North Main Street in Blythe. The fare structure is summarized in Table 1-2. Michael Baker International -4 Triennial Performance Audit of Palo Verde Valley Transit Agency — FYs 2019-2021 Table 1-2, PVVTA Fare Schedule Fare Category Fares General Public (Ages 5 to 59 Years Old) $1.75 Seniors (Ages 60 and Older) $0.85 Persons with Disabilities (ADA or Medicare Card) $0.85 Children (Under 5 Years of Age) First Boarding with Full Fare Adult Free Children (Under 5 Years of Age) Second & Third Boarding with Full Fare Adult $0.85 Red Route 3 Express (All Adult Categories) $3.50 Route Deviations (One Way To/From Route) $0.85 DV8-Card (8 One Way Deviation Fares) $6.80 10 -Ride Punch Pass (Routes 1, 2, 3 Local & 4 & 5) $17.50 Senior/Disabled 10 -Ride Punch Pass (Routes 1, 2, 3 Local & 4 & 5) $8.50 General Public 31 -Day Pass (Routes 1, 2, 3 Local & 4 & 5) $45.00 Seniors 31 -Day Pass (Routes 1, 2, 3 Local & 4 & 5) $30.00 Persons with Disabilities 31 -Day Pass (Routes 1, 2, 3 Local & 4 & 5) $30.00 10 -Ride Punch Pass (Ehrenberg, Arizona) $50.00 10 -Ride Punch Pass (Red Route 3 Express) $35.00 20 -Ride Punch Pass (Red Route 3 Express) $70.00 General Public 31 -Day Pass (Red Route 3 Express) $125.00 Other Cash Fare —X -Tend -A -Ride & Blythe Wellness Express (BWE) X -Tend -A -Ride, General Public, Seniors & Persons with Disabilities $5.00 BWE, General Public, Seniors & Persons with Disabilities, One -Way $10.00 BWE, General Public, Seniors & Persons with Disabilities, Round Trip $15.00 Source: PVVTA Fleet Ten vehicles were in revenue service during the audit period. In addition, PVVTA has six support vehicles and two contingency vehicles for emergency usage. Vehicles in the fleet are wheelchair accessible with tie -downs in compliance with the Americans with Disabilities Act of 1990 (ADA). Table 1-3 summarizes the PVVTA fleet. Table 1-3 PVVTA Fleet — Revenue Service Year Make/Model Quantity Fuel Type Seating Capacity 2013 Ford 2 CNG 32 (2 W/C) 2016 Chevrolet 1 Gasoline 18 (2 W/C) 2016 Ford 1 Gasoline 18 (2 W/C) 2018 Ford 1 Gasoline 20 (2 W/C) 2019 Ford 1 Gasoline 20 (2 W/C) 2019 Ford 2 CNG 20 (2 W/C) 2019 Ford 1 CNG 14 (2 W/C) 2019 Dodge 1 Gasoline 6 (2 W/C) Total 10 Source: PVVTA Michael Baker International -5 Triennial Performance Audit of Palo Verde Valley Transit Agency — FYs 2019-2021 Section 11 Operator Compliance Requirements This section of the audit report contains the analysis of PVVTA's ability to comply with state requirements for continued receipt of TDA funds. The evaluation uses the Caltrans guidebook Performance Audit Guidebook for Transit Operators and Regional Transportation Planning Agencies to assess transit operators. The guidebook contains a checklist of 11 measures taken from relevant sections of the PUC and the California Code of Regulations. Each of these requirements is discussed in the table below, including a description of the system's efforts to comply with the requirements. In addition, the findings from the compliance review are described in the text following the table. Table 11-1 Operator Compliance Requirements Matrix Operator Compliance Requirements Reference Compliance Efforts The transit operator has submitted annual reports to the RTPA based upon the Uniform System of Accounts and Records established by the State Controller. Report is due within seven (7) months after the end of the fiscal year (on or before January 31). The report shall contain underlying data from audited financial statements prepared in accordance with generally accepted accounting principles, if this data is available. Public Utilities Code, Section 99243 Completion/submittal dates: FY 2019: January 31, 2020 FY 2020: January 25, 2021 FY 2021: January 27, 2022 Conclusion: Complied. The operator has submitted annual fiscal and compliance audits to the RTPA and to the State Controller within 180 days following the end of the fiscal year (Dec. 27) or has received the appropriate 90 - day extension by the RTPA allowed by law. Public Utilities Code, Section 99245 Completion/submittal dates: FY 2019: December 18, 2019 FY 2020: December 14, 2020 FY 2021: December 16, 2021 Conclusion: Complied. Michael Baker International -6 Triennial Performance Audit of Palo Verde Valley Transit Agency — FYs 2019-2021 Table 11-1 Operator Compliance Requirements Matrix Operator Compliance Requirements Reference Compliance Efforts The CHP has, within the 13 months prior to each TDA claim submitted by an operator, certified the operator's compliance with Vehicle Code Section 1808.1 following a CHP inspection of the operator's terminal. Public Utilities Code, Section 99251 B PVVTA, through its contract operator, participates in the California Highway Patrol (CHP) Transit Operator Compliance Program in which the CHP has conducted inspections within the 13 months prior to each TDA claim. Inspections were conducted at the PVVTA operations facility located at 415 North Main Street, Blythe. Inspection dates applicable to the audit period were May 21, 2019; May 12, 2020; and July 7, 2021. Inspections were rated satisfactory. Conclusion: Complied. The operator's claim for TDA funds is submitted in compliance with rules and regulations adopted by the RTPA for such claims. Public Utilities Code, Section 99261 As a condition of approval, PVVTA's annual claims for Local Transportation Funds (LTF) and State Transit Assistance are submitted in compliance with the rules and regulations adopted by RCTC. Conclusion: Complied. If an operator serves urbanized and non -urbanized areas, it has maintained a ratio of fare revenues to operating costs at least equal to the ratio determined by the rules and Public Utilities Code, Section 99270.1 This requirement is not applicable, as PVVTA only serves a non -urbanized area. Conclusion: Not Applicable. Michael Baker International -7 Triennial Performance Audit of Palo Verde Valley Transit Agency — FYs 2019-2021 Table 11-1 Operator Compliance Requirements Matrix Operator Compliance Requirements Reference Compliance Efforts regulations adopted by the RTPA. The operator's operating budget has not increased by more than 15% over the preceding year, nor is there a substantial increase or decrease in the scope of operations or capital budget provisions for major new fixed facilities unless the operator has reasonably supported and substantiated the change(s). Public Utilities Code, Section 99266 Percentage increase in PVVTA's transit operating budget: FY 2019: FY 2020: FY 2021: +6.2% -1.9% +3.9% The increase in the FY 2019 operating budget is attributed to the implementation of the Blythe Wellness Express and higher operations contract costs. Source: PVVTA TDA Article 4 Financial Statements (Audited) for FYs 2019-2021 Conclusion: Complied. The operator's definitions of performance measures are consistent with Public Utilities Code Section 99247, including (a) operating cost, (b) operating cost per passenger, (c) operating cost per vehicle service hour, (d) passengers per vehicle service hour, (e) passengers per vehicle service mile, (f) total passengers, (g) transit vehicle, (h) vehicle service hours, (i) vehicle service miles, and (j) vehicle service hours per employee. Public Utilities Code, Section 99247 PVVTA's definition of performance is consistent with PUC Section 99247. A review of trip sheets and TransTrack reports generated during the audit period indicates that correct performance data are being collected. Conclusion: Complied. Michael Baker International -8 Triennial Performance Audit of Palo Verde Valley Transit Agency — FYs 2019-2021 Table 11-1 Operator Compliance Requirements Matrix Operator Compliance Requirements Reference Compliance Efforts If the operator serves an urbanized area, it has maintained a ratio of fare revenues to operating costs at least equal to one -fifth (20 percent), unless it is in a county with a population of less than 500,000, in which case it must maintain a ratio of fare revenues to operating costs of at least equal to three -twentieths (15 percent), if so determined by the RTPA. Public Utilities Code, Sections 99268.2, 99268.3, 99268.12, 99270.1 This requirement is not applicable, as PVVTA only serves a non -urbanized area. Conclusion: Not Applicable. If the operator serves a rural area, or provides exclusive services to elderly and disabled persons, it has maintained a ratio of fare revenues to operating costs at least equal to one -tenth (10 percent). Public Utilities Code, Sections 99268.2, 99268.4, 99268.5 Operating ratios for PVVTA using audited data including local support revenue and exempting new services were as follows: FY 2019: 10.43% FY 2020: 9.30% FY 2021: 17.80% Source: PVVTA TDA Article 4 Financial Statements (Audited) for FYs 2019-2021 Conclusion: Partial Compliance. The current cost of the operator's retirement system is fully funded with respect to the officers and employees of its public transportation system, or the operator is implementing a plan approved by the RTPA which will fully fund the retirement system within 40 years. Public Utilities Code, Section 99271 To be eligible for TDA funds, the annual TDA claims form requires a sign -off from the transit claimant to comply with standard assurances, one of which is that PVVTA's retirement system is funded. PVVTA contracts with a private provider for operations, but the Michael Baker International -9 Triennial Performance Audit of Palo Verde Valley Transit Agency — FYs 2019-2021 Table 11-1 Operator Compliance Requirements Matrix Operator Compliance Requirements Reference Compliance Efforts Agency participates in the California Public Employees' Retirement (CaIPERS) System covering all regular Agency employees. The participation in CaIPERS aligns with the City of Blythe's retirement program. Conclusion: Complied. If the operator receives state transit assistance funds, the operator makes full use of funds available to it under the Urban Mass Transportation Act of 1964 before TDA claims are granted. California Code of Regulations, Section 6754(a)(3) As a recipient of State Transit Assistance funds, PVVTA utilizes federal funds that are available to the Agency, as reported in the Transit Operator Financial Transactions Reports and fiscal audits as follows: FY 2019: $66,678 (Operations) FY 2020: $191,289 (Operations) FY 2021: $130,461 (Operations) Source: Transit Operators Financial Transactions Reports Conclusion: Complied. Michael Baker International -10 Triennial Performance Audit of Palo Verde Valley Transit Agency — FYs 2019-2021 Findings and Observations from Operator Compliance Requirements Matrix 1. Of the compliance requirements pertaining to PVVTA, the operator fully complied with eight of the nine applicable requirements. PVVTA was in partial compliance regarding farebox recovery attainment for FY 2020. Two additional compliance requirements did not apply to PVVTA (i.e., intermediate farebox recovery ratio under PUC 99270.1 and exclusive urbanized farebox recovery ratio). 2. Based on the farebox calculation in the annual TDA Article 4 Financial Statements (Audited), PVVTA's farebox recovery ratio met or exceeded the required minimum standard of 10 percent during two of the three audit years. The system -wide farebox recovery ratios were 10.43 percent in FY 2019, 9.30 percent in FY 2020, and 17.80 percent in FY 2021.1 It is noted that the audited farebox ratio in FY 2020 was adversely impacted from the COVID-19 pandemic and state shelter - in -place order. Local support revenue such as from fuel sales, private contributions, and the Low Carbon Transit Operations Program (LCTOP) included in the ratio helped to prop up the farebox calculation. 3. Through its contract operator, PVVTA participates in the CHP Transit Operator Compliance Program in which the CHP has conducted inspections within the 13 months prior to each TDA claim. The CHP inspection reports submitted for review were found to be satisfactory. 4. The operating budget exhibited moderate fluctuations during the audit period. PVVTA saw an increase of 6.2 percent in the operating budget in FY 2019 followed by a 1.9 percent decrease in FY 2020. In FY 2021, the budget increased by 3.9 percent. The increase in the FY 2019 operating budget is attributed to the implementation of the Blythe Wellness Express and higher operations contract costs. 1 Assembly Bill 90, passed into law and signed by the governor in June 2020 in response to the COVID-19 pandemic impacts, prohibits the imposition of penalties on a transit operator that does not maintain the required ratio of fare revenues to operating cost during FY 2019-20 or FY 2020-21. Michael Baker International -11 Triennial Performance Audit of Palo Verde Valley Transit Agency — FYs 2019-2021 Section 111 Prior Triennial Performance Recommendations PVVTA's efforts to implement the recommendations made in the prior triennial audit are examined in this section of the report. For this purpose, each prior recommendation for the Agency is described, followed by a discussion of PVVTA's efforts to implement the recommendation. Conclusions concerning the extent to which the recommendations have been adopted by the Agency are then presented. Prior Recommendation 1 Work with local elected officials and stakeholders to expand upon the Blythe Wellness Express to serve veterans. Background: The implementation of the Blythe Wellness Express during the prior audit period has provided the means for Palo Verde Valley residents to better access medical facilities and services in the Coachella Valley. This service is open to the general public and operates several days during the week. An important subcomponent of medical transportation concerns access to veteran services. Currently, veterans residing in the Palo Verde Valley have been known to access VA services in Arizona. There are VA services in the Coachella Valley that could be accessed, such as the VA Clinic in Palm Desert. The representative for the 36th Congressional District, which encompasses eastern Riverside County, is a strong advocate for veterans and PVVTA has indicated its intent to work with the congressman to secure federal funding support towards veterans' transportation. It is recommended that PVVTA continue to work with the congressman as well as other stakeholders for such a service. Actions taken by PVVTA PVVTA has engaged stakeholders, including RCTC, and secured additional LCTOP funding to provide an additional day of service for the Blythe Wellness Express, making its service available three days per week. The Agency worked with the congressional district representative to support veteran trips, and pursued grant funding from the Mohave Desert Air Quality Management District, and state and federal transit sources. This resulted in PVVTA receiving over $65,000 in a federal grant specifically for Blythe Wellness Express in FY 2020. PVVTA continues to work with legislative stakeholders and advocacy groups to keep Blythe Wellness Express service at the forefront of transit discussions in spite of slowdowns due to the COVID-19 pandemic. Efforts to build and strengthen ridership has included outreach to physicians and medical facilities located in the Coachella Valley. Conclusion This recommendation has been implemented. Prior Recommendation 2 Ensure that Board meeting agendas and minutes are posted on the PVVTA website. Michael Baker International -12 Triennial Performance Audit of Palo Verde Valley Transit Agency — FYs 2019-2021 Background: The PVVTA website contains links at the bottom of the home page pertaining to the Agency's administration, including the Board of Directors and meeting minutes and agendas. Upon clicking the link entitled "Meeting Minutes/Agency Files" under Administration, the result was a page containing broken links for two meetings in 2018 and some miscellaneous verbiage. Furthermore, there were no other links to meeting agendas and minutes conducted recently. In the interest of public outreach and transparency, the prior audit noted that having the agendas and minutes accessible on the website would keep community stakeholders informed about the issues and developments in the transit system. Therefore, it was recommended that the Agency upload and archive agendas and minutes from its Board meetings on the website. Actions taken by PVVTA Through a contract with Trillium and their use of General Transit Feed Specification, PVVTA updated its website to include an "Agency Files/Agendas/Minutes" web page that takes users to a Dropbox file sharing site where many relevant documents are posted, including Board of Directors agenda packets and minutes for all meetings spanning the audit period. Archived or historical documentation can be requested through an email link provided on the web page. Conclusion This recommendation has been implemented. Prior Recommendation 3 Pursue further discussions with the City of Blythe about defining roles and responsibilities. Background: The prior audit noted that the City was still involved in certain PVVTA administrative functions such as cutting checks for purchase orders. PVVTA's purchasing guidelines involved a bidding process and signing off on purchase orders once the procurement is complete. In addition, PVVTA still utilized the City's Eden financial management software program for the Short -Range Transit Plan and financial projections. Since most of the PVVTA service area encompasses the City of Blythe, the Agency continued to rely on city infrastructure and services. A master agreement between the Agency and the City that has been under consideration would further define roles and responsibilities such as police support services. Actions taken by PVVTA On June 8, 2021, PVVTA and the City of Blythe entered a formal Memorandum of Understanding (MOU) making PVVTA the sole public transit provider in the City of Blythe. This agreement formalized a long-standing informal agreement allowing PVVTA to share facilities, equipment, services, and personnel with the City of Blythe. The MOU has a five-year term with automatic one-year renewals until either party wishes to terminate. Conclusion This recommendation has been implemented. Michael Baker International -13 Triennial Performance Audit of Palo Verde Valley Transit Agency — FYs 2019-2021 Section IV TDA Performance Indicators This section reviews PVVTA's performance in providing transit service to the community in an efficient and effective manner. TDA requires that at least five specific performance indicators be reported, which are contained in the following tables. Farebox recovery ratio is not one of the five specific indicators but is a requirement for continued TDA funding. Therefore, farebox calculation is also included. Two additional performance indicators, operating cost per mile and average fare per passenger, are included as well. Findings from the analysis are contained in the section following the tables. Table IV -1 provides the performance indicators for PVVTA system -wide. Graphs are also provided to depict the trends in the indicators. It is noted that operating costs and fare revenues are based on audited figures. Operating costs exclude depreciation and extension of services permissible by the TDA. Fare revenue generated from service extensions are also exempt. Michael Baker International -14 Triennial Performance Audit of Palo Verde Valley Transit Agency - FYs 2019-2021 Table IV -1 PVVTA TDA Performance Indicators Audit Period Performance Data and Indicators FY 2018 FY 2019 FY 2020 FY 2021 % Change FY 2018 - 2021 Operating Cost $1,124,884 $1,194,417 $1,172,129 $1,217,303 8.2% Operating Costs Related to New Services/Expansion $259,011 $271,835 $85,205 $451,068 74.2% Adjusted Operating Cost (1) $865,873 $922,582 $1,086,924 $766,235 -11.5% Total Passengers 44,047 45,511 35,553 17,892 -59.4% Vehicle Service Hours 7,956 7,222 6,464 5,032 -36.8% Vehicle Service Miles 182,286 174,456 145,163 121,463 -33.4% Employee FTEs 13 13 12 12 -7.7% Total Passenger Fares $71,496 $82,448 $69,696 $39,572 -44.7% Local Support Revenue (2) $48,365 $93,364 $116,594 $112,712 133.0% Total Revenue $119,861 $175,812 $186,290 $152,284 27.1% Fare Revenue Related to New Services/Expansion $29,700 $79,609 $85,204 $15,894 -46.5% Adjusted Passenger Fare Revenue $90,161 $96,203 $101,086 $136,390 51.3% Operating Cost per Passenger $25.54 $26.24 $32.97 $68.04 166.4% Operating Cost per Vehicle Service Hour $141.39 $165.39 $181.33 $241.91 71.1% Operating Cost per Vehicle Service Mile $6.17 $6.85 $8.07 $10.02 62.4% Passengers per Vehicle Service Hour 5.5 6.3 5.5 3.6 -35.8% Passengers per Vehicle Service Mile 0.24 0.26 0.24 0.15 -39.0% Vehicle Service Hours per Employee 612.0 555.5 538.6 419.3 -31.5% Average Fare per Passenger $1.62 $1.81 $1.96 $2.21 36.3% Fare Recovery Ratio 6.36% 6.90% 5.95% 3.25% -48.9% Fare Recovery Ratio with Local Support 10.41% 10.43% 9.30% 17.80% 70.9% Consumer Price Index - (CPI-AII) (3) 3.48% 3.40% 2.48% 1.98% 8.10% Source: Annual Fiscal & Compliance Audits, Transit Operators Financial Transactions Reports Operating costs exclude depreciation and extension of services, permissible by the TDA. Includes interest, fuel sales, private contributions, and LCTOP. Percentage change in the three-year CPI is based on the difference between the FY 2021 price index and FY 2018 price index. The annual CPI is the change in the price index. Michael Baker International -15 Triennial Performance Audit of Palo Verde Valley Transit Agency — FYs 2019-2021 Graph IV -1 Operating Costs $1,240,000 $1,220,000 $1,200,000 $1,180,000 $1,160,000 $1,140,000 $1,120,000 $1,100,000 $1,080,000 $1,060,000 50,000 45,000 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5,000 FY 2018 FY 2019 FY 2020 FY 2021 Graph IV -2 Ridership FY 2018 FY 2019 FY 2020 FY 2021 Michael Baker International -16 Triennial Performance Audit of Palo Verde Valley Transit Agency — FYs 2019-2021 Graph IV -3 Operating Cost Per Passenger $80.00 $70.00 $60.00 $50.00 $40.00 $30.00 $20.00 $10.00 $- $300.00 $250.00 $200.00 $150.00 $100.00 $50.00 $- i FY 2018 FY 2019 FY 2020 FY 2021 1 1 1 FY 2018 Graph IV -4 Operating Cost Per Vehicle Service Hour Michael Baker International -17 Triennial Performance Audit of Palo Verde Valley Transit Agency — FYs 2019-2021 Graph IV -5 Passengers Per Vehicle Service Hour 5.0 4.0 3.0 2.0 1.0 0.0 20% 18% 16% 14% 12% 10% 8% 6% 4% 2% 0% FY 2018 FY 2019 FY 2018 FY 2019 FY 2020 FY 2021 Graph IV -6 Fare Recovery Ratio with Local Support FY 2020 FY 2021 Michael Baker International -18 Triennial Performance Audit of Palo Verde Valley Transit Agency - FYs 2019-2021 Findings from Verification of TDA Performance Indicators It is noted that adverse impacts on transit service from the COVID-19 pandemic and statewide shelter - in -place order are reflected in various performance measure trends described below. The operator's response during this period is contained in the functional review section of this audit. 1. Operating cost per vehicle service hour, an indicator of cost efficiency, increased 71.1 percent from $141.39 in the FY 2018 base year to $241.91 in FY 2021. Operating costs (before new service exclusions) increased 8.2 percent while vehicle service hours decreased by 36.8 percent during the period. Pursuant to the TDA statute, PVVTA was allowed to exempt new service expansion from its operating cost and farebox revenue calculation for up to two years. 2. Operating cost per passenger, an indicator of cost effectiveness, increased 166.4 percent system- wide from $25.54 in FY 2018 to $68.04 in FY 2021. Ridership system -wide decreased by 59.4 percent, from 44,047 passengers in FY 2018 to 17,892 passengers in FY 2021, while operating costs increased for the same period. 3. Passengers per vehicle service hour, which measures the effectiveness of the service delivered, decreased 35.8 percent system -wide between FY 2018 and FY 2021 from 5.5 passengers per hour to 3.6 passengers per hour. Overall ridership and vehicle service hours decreased by 59.4 percent and 36.8 percent, respectively, during the audit review period. 4. Passengers per vehicle service mile, another indicator of service effectiveness, decreased 39 percent with an annual average of 0.22 passengers. Passengers per service mile decreased from 0.24 passengers in FY 2018 to 0.15 passengers in FY 2021. The passenger trips and vehicle service miles decreased by 59.4 percent and 33.4 percent, respectively, between FY 2018 and FY 2021. 5. Vehicle service hours per employee decreased 31.5 percent system -wide between the FY 2018 base year and FY 2021 from 612 hours in FY 2018 to 419.3 hours in FY 2021, as vehicle hours decreased, and the number of full-time equivalents (FTEs) decreased from 13 to 12 during the period. This measure is based on the number of employee FTEs using employee pay hours from the State Controller's Report and dividing by 2,000 hours per employee. 6. Farebox recovery exhibited a decrease of 48.9 percent system -wide between FY 2018 and 2021, excluding local support revenues. System -wide, passenger fares decreased by 44.7 percent. Local support revenue is composed of fuel sales, interest, private contributions, and LCTOP. With the auxiliary revenues factored in, farebox recovery increased 70.9 percent. Fare revenues related to new services and system expansion were excluded during the audit period from the fare recovery ratio with auxiliary revenue. In FY 2019, Routes 3 and 5 as well as Blythe Wellness Express expenditures and revenues were exempted from the farebox recovery calculation; in FY 2020, Blythe Wellness Express expenditures and revenues were exempted; and in FY 2021, Route 1 expenditures and revenues were exempted. Michael Baker International -19 Triennial Performance Audit of Palo Verde Valley Transit Agency — FYs 2019-2021 Conclusion from the Verification of TDA Performance Indicators PVVTA's performance indicators reflect a declining ridership due to the COVID-19 pandemic as well as a stagnant service area population, and competition from vanpools to the local state prisons. Vehicle service hours and service miles decreased by 36.8 percent and 33.4 percent, respectively. The number of passenger trips decreased by 59.4 percent. Overall operating costs increased 8.2 percent and includes a portion of the new service contract in effect during FY 2017 and FY 2018. FY 2018 saw the highest increase in operating costs of 13.2 percent due to the implementation of the Blythe Wellness Express in July 2017 as well as higher contract and maintenance costs. Local support revenues are required to help the transit system maintain its farebox recovery standard, even during pre -pandemic times. Michael Baker International -20 Triennial Performance Audit of Palo Verde Valley Transit Agency — FYs 2019-2021 Section V Review of Operator Functions This section provides an in-depth review of various functions in the PVVTA transit system. The review highlights accomplishments, issues, and/or challenges that were determined during the audit period. The following functions were reviewed with PVVTA personnel via videoconference in January 2022: • Operations • Maintenance • Planning • Marketing • General Administration and Management Within some departments are subfunctions that require review as well, such as Grants Administration that falls under General Administration. Operations The mission statement for PVVTA declares its intention: To provide the residents and visitors of the Palo Verde Valley a public transportation system that maximizes passenger use, comfort, convenience, safety and satisfaction while efficiently using financial resources that benefits our community. As the only public transit operator in eastern Riverside County, PVVTA has been challenged with declines in the service area population and ridership as well as a limited number of trip generators. The Agency's approach has been to have transit grow in tandem with the region's growth. On June 20, 2018, the PVVTA Board of Directors adopted a new fare schedule; new fare rates went into effect on July 1, 2019. During the audit period, PVVTA realigned local routes to meet up at the Main Street Park -and -Ride lot adjacent to the PVVTA administration and operations facility. Blue Route 1, the City of Blythe Circulator, continued to operate on hourly headways. Most of Blythe's population lives within 0.75 miles of this route. PVVTA has proposed 30 -minute headways on this route as ridership continues to recover from the effects of the pandemic. The Agency has continued to reach out to Palo Verde College (PVC), which is served by Gold Route 2. The route operates with one vehicle on a bidirectional alignment with 60 -minute headways. PVVTA reduced its evening schedule from 6:40 p.m. to 4:30 p.m. and is serving the Main Street Park -and - Ride on request at 4:32 p.m. PVC purchases 31 -day passes and tickets for its student body. Passes are purchased in lump sum quantities two to three times annually. Prior audit recommendations have Michael Baker International -21 Triennial Performance Audit of Palo Verde Valley Transit Agency — FYs 2019-2021 suggested a formal subsidy agreement between PVVTA and PVC as a means to secure stable farebox revenues. Nevertheless, PVC's Extended Opportunity Programs and Services and Cooperative Agencies Resources for Education programs allocate a portion of their budgets for transit and track ridership. PVVTA Red Route 3, which serves the Chuckawalla and Ironwood State Prisons, was modified in the previous audit period in response to the increase in vanpool usage to access these destinations. Service to the state prisons was suspended during the pandemic. The Green Route 4 connects Blythe with the rural communities of Ripley and Mesa Verde. The route operates on two-hour headways and serves four Park -and -Ride lots and local public housing developments. Due to an increase in ridership in 2019, the Agency added three round trips to Ripley and Mesa Verde. The final trip, departing the Main Street Park -and -Ride, is offered upon request only. Service to Ehrenberg, Arizona, is no longer offered on this route. In lieu of the Ehrenberg service, PVVTA entered into an interagency service agreement with Quartzite Transit to provide service between Blythe and Ehrenberg. The service was suspended during the COVID-19 pandemic. Buses can deviate three-quarters of a mile from the scheduled route with a 30 -minute advance reservation or upon request when boarding. There is a maximum of three deviations per loop and deviation requests may be denied if a bus is running 15 minutes or more late. The PVVTA X -Tend -A - Ride program operates as a demand -responsive community -based service with limited weekday afternoon service to the state prisons and the fair, as well as during special community events and outside normal operating hours. X -Tend -A -Ride does not operate in place of fixed -route services. Saturday service is offered on the Silver Route 5 between the hours of 8:10 a.m. and 12:10 p.m. A community circulator response route was implemented on a temporary basis at the outset of the pandemic. The route was a hybrid of the Silver Route 5. Prompted by the lack of adequate medical facilities in the Palo Verde Valley, PVVTA implemented the Blythe Wellness Express Route 6 to provide transport from Blythe to major medical facilities in the Coachella Valley. The service was initiated in July 2017 and operates Monday, Wednesday, and Friday. The service is open to the general public and interlines with SunLine Transit Agency at the Indio Transportation Center located at SR 111 and Flower. During the COVID-19 pandemic, service was initially suspended and later modified to operate two days a week as safety protocols were implemented. Grant funding for the Blythe Wellness Express was received from the Mojave Desert Air Quality Management District and the LCTOP. Federal grant funds were also applied toward the new service and the Agency was awarded rural formula Federal Transit Administration (FTA) Section 5311 funds to support the service. The implementation of a participant fee on the Desert RoadTRIP has helped with system farebox attainment. PVVTA also requires backup documentation and medical receipts for reimbursement. Michael Baker International -22 Triennial Performance Audit of Palo Verde Valley Transit Agency — FYs 2019-2021 Desert RoadTRIP participants can travel up to 460 miles a month, including using Greyhound (690 miles for a family). The contract operator prepares an operations data report for review by PVVTA on a quarterly basis. The operations data report contains a detailed breakdown of ridership, revenue miles, total miles, revenue hours, total hours, deviations, and fare revenue. The data are categorized by route and month. The US Department of Transportation defines an accident as an occurrence involving a commercial motor vehicle which results in: a) a fatality; b) bodily injury to a person who, as a result of the injury, immediately receives medical treatment away from the scene of the accident; or c) one or more of the vehicles incurs disabling damage, requiring it to be towed from the scene. According to the Federal Motor Carrier Safety Administration, a preventable accident is one that occurs because the driver fails to act in a reasonably expected manner to prevent it. Incidents include accidents plus personal casualties (inside vehicles and while boarding and alighting vehicle) and fires. Table V-1 summarizes accidents and incidents that occurred during the audit period for PVVTA. Table V-1 Accidents and Incidents FY 2018 FY 2019 FY 2020 FY 2021 Accidents 1 0 2 0 Incidents 7 2 6 3 Total 8 2 8 3 Source: PVVTA The number of accidents has fluctuated during the audit period from the FY 2018 base year to FY 2021. There were two reported accidents in FY 2020 and zero incidents reported in FY 2019 and FY 2021. Incidents increased from 2 in FY 2019 to 6 in FY 2020 followed by a 50 percent decrease in FY 2021. This reduction of accidents and incidents is due to driver training and the modified service changes due to the pandemic. Each vehicle is equipped with between four and six cameras that can be accessed by wireless remote from dispatch. Dispatching functions are currently handled on a manual basis with no electronic software utilized other than an Excel spreadsheet. On -time performance is monitored by having drivers call in when running five minutes late or longer. Field supervisors also perform periodic checks to ensure schedule adherence. In addition to its bus cameras, PVVTA can access video footage from City security cameras mounted near bus stops. Table V-2 summarizes on -time performance during the audit period on PVVTA. Table V-2 On -time Performance FY 2018 FY 2019 FY 2020 FY 2021 On -time Performance 98.00% 98.81% 97.59% 98.00% Source: PVVTA Michael Baker International -23 Triennial Performance Audit of Palo Verde Valley Transit Agency — FYs 2019-2021 The industry standard is 95 percent on -time performance. PVVTA exceeded the minimum standard during the audit period. Fareboxes installed on the vehicles are standard Diamond F1 rectangular fareboxes. Fares deposited into the farebox are not accessible until the end of the run. Farebox vaults are pulled at the end of the shift and placed in a secure area. The fares are counted by the lead dispatcher and by another designated employee in a secured room monitored by cameras. The cash reconciliation form contains a line item for any overages and shortages. Once counted, fare proceeds are placed into a secured locked money pouch and a secondary count is performed by the finance director before being deposited. Random fare checks are conducted on the vehicles. Trip sheets are reviewed for accuracy and the dispatcher inputs the operations data into monthly and quarterly reports. ADA certification is conducted at the PVVTA facility with the whole process typically taking about 24 hours to turn around. Physician verification is not required in every case. Travel training is also offered to passengers as needed. PVVTA staff has attended mobility trainings offered through CaIACT to improve its capability to educate and transition riders onto transit. PVVTA also tracks and responds to customer complaints. Table V-3 summarizes complaints received during the audit period on PVVTA: Table V-3 Complaints FY 2018 FY 2019 FY 2020 FY 2021 Complaints 0 8 1 2 Source: PVVTA PVVTA received an average of 3.6 complaints per year over the audit period, with 2019 being the year with the highest complaint volume. Declining ridership in the latter two years also could be a factor in the trend. COVID-19 Pandemic Impacts As impacts from the novel coronavirus (COVID-19) started to be realized in California, a state of emergency was declared on March 4, 2020. Subsequently, a mandatory statewide shelter -in -place order was implemented on March 19. In response to the initial order and the resulting changes in demand, PVVTA implemented a series of service changes and the adoption of a formal COVID-19 response plan. Nearly all departments within the Agency were affected in some way by the impacts of COVID-19, the operations department being impacted most directly. COVID-19 related service changes implemented by PVVTA during the pandemic are summarized as follows: • On March 13, 2020, Gold Route 2 service was suspended. • On March 17, 2020, Blythe Wellness Express Route 6 service was suspended. Michael Baker International -24 Triennial Performance Audit of Palo Verde Valley Transit Agency — FYs 2019-2021 • From March 22, 2020, to June 1, 2020, all regular service was temporarily suspended and a new Community Circulator Response Route (CCRR) was implemented with scheduled service Monday through Friday from 7:00 a.m. to 3:00 p.m. The CCRR was a hybrid of the Silver Route 5, free to riders. The PVVTA Operations Center closes to the general public. • On April 4, 2020, a mask mandate was implemented requiring all riders and operators to wear face masks while on PVVTA vehicles. • On June 1, 2020, regular service was reinstated with some schedule modifications and the CCRR was discontinued. Fare collection resumed. Blue Route 1 service operated without extra midday peak service. Gold Route 2 continued to be temporarily suspended. Red Route 3 service was reinstated with Wednesday service only. Blythe Wellness Express Route 6 service was reinstated on Wednesdays only. • On August 2, 2020, Blythe Wellness Express Route 6 Monday service was reinstated; on September 8, 2020, Friday service was reinstated. • On September 8, 2020, PVVTA reinstated Route 3 regular service, along with fare collection. In addition to these service changes, PVVTA implemented disinfecting protocols on high -touch surfaces within the facility, on vehicles, and at transit amenities at high -volume bus stops. Drivers were assigned to specific vehicles in order to mitigate against virus transmission. All protocols were compliant with Centers for Disease Control and Prevention and Riverside County Public Health Department guidelines. Personal protection equipment was made available to operators including masks, gloves, hand sanitizer, and disinfecting sprays. Personnel PVVTA personnel is composed of administrative and operations staff employed by Transportation Concepts. Administrative staff includes a general manager, administrative supervisor/mobility manager, one field supervisor, a finance manager, and an accounts specialist. The current general manager was appointed by the PVVTA board whereas in the past the general manager position was filled by the Blythe City manager. This distinction is important, as the designation of a general manager with true transit management experience shows the independence of the Agency from the City and the ability of the Board to provide focused guidance on transit policy and operations. At the onset of the COVID-19 pandemic, PVVTA had already established the necessary infrastructure to accommodate remote work. The Agency set up an online Dropbox site to serve as a document exchange. PVVTA has found driver recruitment and retention challenging. This is attributed to the relatively small labor pool, competition from the solar industry, DMV, and drug testing issues. Although the medicinal and recreational use of cannabis is legal in California, the transportation industry is subject to a different set of regulations that preclude the use of cannabis. Operations staff includes eight drivers (two full-time, six part-time) and three dispatchers (one full- time, two part-time). Prior to the pandemic, PVVTA employed 12 drivers. Part-time drivers generally work between 20 to 30 hours weekly. Entry-level drivers are hired as part-time. Full-time drivers are generally assigned 30 to 40 hours a week and receive benefits after six months of employment. Routes are assigned weekly based on seniority. The X -Tend -A -Ride driver serves as the extraboard. Michael Baker International -25 Triennial Performance Audit of Palo Verde Valley Transit Agency — FYs 2019-2021 All personnel are non-union. The contractor operator Transportation Concepts has supplemented personnel levels with drivers from outside of the service area. The average years of service for employees is 10 years. Recruitment efforts have been through word-of-mouth as well as through Indeed, social media, and the Transportation Concepts website. An incentive program provides a $1,500 hiring bonus for new employees. PVVTA has not been at full staffing since the onset of the pandemic even though a few employees were hired during the pandemic. Turnover in personnel during the audit period has been attributed to retirements, medical and family leave, and recruitment by other local firms such as solar energy companies. PVVTA management expressed that competition for employees comes from various industries including the school district, express delivery services, trucking, skilled agriculture, solar, and the prison. Driver training is based on the Transportation Safety Institute model and consists of 40 hours classroom and 80 hours behind -the -wheel training. Overall, candidates undergo a minimum of 100 hours of training including 40 hours of cadet training with a tenured driver. Mobility and customer service training are provided through the Community Transportation Association of America. Drivers are required to have a Class B license with passenger endorsement. Drivers are evaluated every 90 days, a process which involves unobserved road checks, scheduled ride-alongs, and reviews of bus surveillance videos. Safety training is conducted once a month. During the pandemic, these trainings were conducted via the Zoom videoconference platform. In -person trainings were reinstated in 2021 with social distancing and safety protocols. Maintenance During the audit period, vehicle maintenance was transferred from the City to Transportation Concepts. Transportation Concepts provides maintenance service with its own staff mechanic at the PVVTA operations facility. Prior to this, vehicles were serviced at the City garage located at 440 South Main Street. Vehicle maintenance is performed on a 5,000 -mile or 45 -day inspection schedule. Additional preventive maintenance is conducted every 15,000 miles and annually at 36,000 miles. Maintenance duties include tire mounting and engine overhauls. Warranty repairs are performed at Larry Green Ford located at 410 East Hobsonway in Blythe. Drivers are allotted 15 minutes to conduct pre -trip inspections. The driver vehicle inspection report (DVIR) is configured into 10 categories. The DVIR is completed in triplicate and includes post -trip details. The top white sheet stays with the vehicle during its operation, the pink copy stays in dispatch, and the yellow copy remains on the vehicle as a record. The CHP is responsible for certifying PVVTA's maintenance facilities and for inspecting vehicles on an annual basis. PVVTA vehicles have received satisfactory terminal inspections from the CHP. Preventive maintenance is tracked using Dossier maintenance software and by using service due stickers which are placed in each vehicle. Given Blythe's remote location, vehicle parts are generally ordered in bulk so as to have an ample supply on hand such as fluids and tires. The Agency solicits Michael Baker International -26 Triennial Performance Audit of Palo Verde Valley Transit Agency — FYs 2019-2021 bids for bulk purchases. Parts and equipment such as tires, filters, belts, and Freon are stored in a warehouse behind the operations facility. Vehicle fueling is conducted on a card -lock basis at the Blythe CNG Station in the City Corporation Yard located at 440 South Main Street at 14th Street. The CNG station opened in May 2014 and is accessible by the general public 24 hours daily and has portable restroom facilities with wash station, 24 -hour closed-circuit surveillance cameras, free Blythe visitor information, and free Wi-Fi. Revenues from CNG fueling contribute to the system farebox recovery. In 2020, PVVTA entered an MOU with the Palo Verde Unified School District allowing them to utilize the fueling station. The property where the CNG station is located will be transferred to PVVTA in five years. Road calls are recorded when a tow truck and/or mechanic responds to a mechanical/service problem for a disabled transit vehicle that is in revenue service. Table V-4 summarizes road calls that occurred during the audit period. Table V-4 Road Calls FY 2018 FY 2019 FY 2020 FY 2021 Road Calls 10 0 5 0 Source: PVVTA There have been issues with the air conditioning units due to the extreme summer temperatures. Newer vehicles are equipped with higher -efficiency air conditioning units of 110 British thermal units. Solar tinting is being considered to further cooling efficiencies on the vehicles. SunLine provides operational emergency support to the Blythe Wellness Express when the vehicle operates in the SunLine service area. PVVTA has also been planning for the implementation of zero -emission vehicles (ZEV) and infrastructure in accordance with the California Air Resources Board mandates. The Agency was awarded a $65,000 voucher from the Volkswagen (VW) Environmental Mitigation Trust towards the procurement of two ZEVs to be delivered in FY 2023 and FY 2024. The VW Trust provides about $423 million for California to mitigate excess nitrogen oxide emissions. PVVTA has also approached Southern California Edison about the installation of electric charging infrastructure. As the Agency moves towards the adoption of ZEV, it is suggested that it reach out to peer agencies in Riverside and San Bernardino Counties that have already adopted or are in the process of adopting such technology. The Agency is also looking to procure smaller vehicles in order to attract a wider pool of drivers who do not already have their commercial license. Planning PVVTA prepares a Short -Range Transit Plan (SRTP) on an annual basis. The SRTP covers a three-year planning horizon and includes a system overview, performance analysis for each route and service, service changes, and financial and capital plans. Under the services and performance chapter, a series of recommendations for service improvements is presented for each route or program. Performance Michael Baker International -27 Triennial Performance Audit of Palo Verde Valley Transit Agency - FYs 2019-2021 data from TransTrack Manager is also included in the SRTP to provide an annual comparison. In adhering to the SRTP analysis element, PVVTA must meet at least four out of seven discretionary performance indicators. These indicators are in relation to RCTC's Productivity Improvement Program. There is one mandatory indicator which is the farebox recovery ratio set at 10 percent. Table V-5 PVVTA Performance Targets Performance Indicators FY 2018-19 Target FY 2019-20 Target FY 2020-21 Target Farebox Recovery >=10.00% >=10.00% >=10.00% Operating Cost Per Revenue Hour <=$145.56 <=$169.97 <=$169.97 Subsidy Per Passenger >=$19.27 & <=$26.07 >=$19.07 & <=$25.79 >=$19.07 & <=$25.79 Subsidy Per Passenger Mile >=$1.38 & <=$1.86 >=$1.36 & <=$1.84 >=$1.36 & <=$1.84 Subsidy Per Hour >=$110.94 & <=$150.10 >=$126.24 & <=$170.80 >=$126.24 & <=$170.80 Subsidy Per Mile >=$4.73 & <=$6.39 >=$5.21 & <=$7.05 >=$5.21 & <=$7.05 Passengers Per Revenue Hour >=4.93 & <=6.67 >=5.61 & <=7.59 >=5.61 & <=7.59 Passengers Per Revenue Mile >=0.21 & <=0.29 >=0.23 & <=0.31 >=0.23 & <=0.31 Source: PVVTA, TransTrack Manager According to the RCTC SRTP review data, in FY 2018-19 PVVTA failed to meet the mandatory farebox recovery target and the operating cost per revenue hour targets and met the six other discretionary performance indicator targets. For FY 2019-20, PVVTA failed to meet the operating costs per revenue hour and subsidy per passenger mile targets and met the mandatory farebox recovery target and the five other discretionary performance indicator targets. In FY 2020-21, PVVTA failed to meet the operating costs per revenue hour target and met the mandatory farebox recovery target and the six other discretionary performance indicator targets. PVVTA exceeded performance targets in two discretionary indicator categories: subsidy per passenger and subsidy per revenue mile. During the spring of 2021, PVVTA released an RFP to provide a Comprehensive Operational Analysis (COA) that would also feed into the development of the FY 2022-2024 SRTP. After only receiving one proposal, PVVTA rereleased the RFP to include a marketing analysis component as well as for assistance with writing an RFP for the renewal of the operations contract in 2022. The COA will assess its strengths, weaknesses, opportunities, and challenges for providing service in a dynamic transit market and capitalize on its position as a regional mobility provider. On a local level, PVVTA participates in the City of Blythe's project review committee process to determine how transit can better serve new development. PVVTA is working with the City to add a transit component or incentives to potential cannabis businesses that are looking to locate to the area. Michael Baker International -28 Triennial Performance Audit of Palo Verde Valley Transit Agency — FYs 2019-2021 Marketing PVVTA has used several marketing strategies to promote its transit services such as brochures, newspaper and radio advertisements, community events, electronic and social media, and mobility management training. The PVVTA Riders Guide serves as the Agency's principal informational brochure and contains a route map, schedules, fares, and general information about service hours and rider etiquette. The Riders Guide was updated as necessary to reflect the various route changes that have been implemented during the audit period. The PVVTA's website (http://pvvta.com/) provides much of the same information as the Riders Guide, but also includes a trip planning tool, service updates, and links to social media sites such as Facebook and Twitter. The trip planner interactive tool is powered by Google Transit. The website contains links at the bottom of the home page pertaining to the Agency's administration, including the Board of Directors and meeting minutes and agendas. The website is hosted by Trillium. Social media outreach includes a Facebook page and a Twitter feed. Standard multi -ride passes are available for purchase at the PVVTA operations office. Radio spots are broadcast over local stations such as KJMB 100.3 FM and Spanish language Radio Bilingue KERU 88.5 FM. The Blythe Wellness Express is branded separately from the mainline routes. Posters and flyers were posted in local hospitals and medical offices. USB chargers are installed on the vehicles. Semi -seats at bus stops are attached to the poles. Water is sold to passengers on the vehicles during the summer months. Another effective outreach tool has been the Mobility Management Program, which is the direct result of needs identified in the RCTC Public Transit Human Services Transportation Plan, funded through FTA Section 5316 and 5317 grants. This program offers training to riders interested in using the transit system. Travel training sessions have been held at local primary and middle schools. PVVTA has also provided safe -ride shuttles through the X -Tend -A -Ride program during homecoming and New Year's Eve events, which have reduced the number of driving under the influence arrests. With the development of the COA, PVVTA has included a marketing component that could potentially identify how the Agency could raise its profile and attract new ridership. Some elements for consideration would include a rebranding initiative. PVVTA should work with the consultant to develop a brand identity for the transit service that could center around a new name, logo, or new vehicle procurement. This could be done in concert with the implementation of ZEVs, smaller -sized vehicles, and mobile fare collection. Pursuant to the federal Civil Rights Act of 1964, PVVTA has an adopted Title VI Program. Title VI of the Civil Rights Act of 1964 requires that no person in the United States, on the grounds of race, color, or national origin, be excluded from, be denied the benefits of, or be subjected to discrimination under any program or activity receiving federal financial assistance. Program compliance includes Title VI notices and complaint forms posted at the PVVTA operations office and on the transit vehicles and website. Michael Baker International -29 Triennial Performance Audit of Palo Verde Valley Transit Agency — FYs 2019-2021 General Administration and Management The PVVTA Board of Directors is composed of five members: three members of the Blythe City Council, one member from the County of Riverside Board of Supervisors, and one public member appointed by the County of Riverside Board of Supervisors. The secretary to the board is the City Clerk of the City of Blythe. Regular meetings of the PVVTA Board of Directors are generally held the first Wednesday of the month at noon at the PVVTA administrative and operations facility located at 415 North Main Street in Blythe. The PVVTA Board has been supportive in its advocacy of transit and staff. A board member attends RCTC Board meetings to advocate for the interests of PVVTA. Parking Concepts, Inc. dba Transportation Concepts, has served as the PVVTA contract operator since 2003 and was awarded a 2.75 -year contract from October 1, 2014, through June 30, 2017. Amendment No. 3 to the professional services agreement between PVVTA and Parking Concepts extended the contract to June 30, 2018, increased the compensation to Parking Concepts, and added the Blythe Wellness Express service to the scope of services. Through consecutive amendments, PVVTA has extended the contract through June 30, 2022. PVVTA operations were previously managed by the contract general manager provided under the Agency's agreement with Parking Concepts, Inc. In July 2021, the PVVTA Board entered into an employment agreement with the contract general manager to serve as the Agency's general manager. The agreement spells out the duties and responsibilities of the position, employment benefits, and terms of the contract. The employment contract is in effect for a five-year period through June 2026. As mentioned in the prior audit recommendation section, on June 8, 2021, PVVTA and the City of Blythe entered into a formal MOU making PVVTA the sole public transit provider in the City of Blythe. This agreement formalized a long-standing informal agreement allowing PVVTA to share facilities, equipment, services, and personnel with the City of Blythe. The MOU has a five-year term with automatic one-year renewals until either party wishes to terminate. The City is still involved in certain administrative functions such as cutting checks for purchase orders. A separate tracking spreadsheet is maintained for each project or purchase along with its specific funding source. PVVTA still utilizes the City's EDEN financial management software program for the SRTP and financial projections. The MOU signifies formal progress in distinguishing roles and asset management between the two entities. PVVTA examines Agency functions that continue to be provided by the City, such as the accounting system, with an eye towards further independence from City -provided services. The Transit Advisory Committee (TAC) meets twice annually in a town hall format. The TAC addresses SRTP development and any other major service changes planned by PVVTA. According to PVVTA's administration, it has been difficult to recruit and sustain membership of the TAC. According to the general manager, the TAC met only once during the audit period. PVVTA's Transit Operators Financial Transactions Report submitted to the State Controller is prepared by an independent CPA firm and signed off by the PVVTA finance director. PVVTA submits the annual TDA claim for funds to RCTC. TDA claims are based on the PVVTA annual budget and the financial Michael Baker International -30 Triennial Performance Audit of Palo Verde Valley Transit Agency — FYs 2019-2021 element of the SRTP. Reserve allocations for LTF and State Transit Assistance (STA) funds are included as separate line items on the claim form. The primary source of transit funding support is derived from TDA for operations and capital. LTF is used primarily for operations and STA funds are used for both operation and capital expenditures. Based on Transit Operator Financial Transactions Report and Agency budget data, the Agency's LTF revenue was $945,456 in FY 2019; $785,774 in FY 2020; and $873,926 in FY 2021. STA funds received by the Agency were $186,135 in FY 2019; $138,385 in FY 2020; and $238,000 in FY 2021. STA funds are utilized toward operations, vehicle replacement, bulk supplies, and bus stop amenities. Grants Management Grant funding allocated toward the transit system has been derived from state and federal sources. Capital grants are tracked quarterly on an Excel spreadsheet that is configured into sections showing each grant and its funding amount, running balance, purpose, and drawdowns. The finance manager prepares the financial element of the SRTP and provides quarterly reporting to RCTC through the capital tracking report. The administrative supervisor/mobility manager oversees project management, and the general manager oversees vehicle procurement. Bus procurement encompasses bulk maintenance supplies, support vehicles, bus shelters, and radio equipment. PVVTA received State Proposition 1B Public Transportation Modernization, Improvement & Service Enhancement Account program funds for vehicle purchases. Another component of the Proposition 1B program is the Transit System Safety, Security and Disaster Response Account (TSSSDRA) administered by the Governor's Office of Emergency Services. The Agency was awarded $8,476 in TSSSDRA grant funds in FY 2019 for security cameras at the operations facility and Park -and -Ride lot and on the vehicles. The Agency secured $20,000 in FY 2020 and an additional $20,000 in FY 2021 in grants from the Mojave Desert Air Quality Management District for the CNG station. PVVTA received LCTOP funding for free fares in the amount of $18,948 in FY 2019, $50,011 in FY 2020, and $79,431 in FY 2021. The Agency received $65,181 in federal funds in FY 2019 for the Blythe Wellness Express Route 6 service. In FY 2020, PVVTA began receiving FTA Section 5311 funding. PVVTA received $35,510 in SB 1 State of Good Repair grant funds in FY 2019, $35,758 in FY 2020, and $36,955 in FY 2021. These funds were used for the installation of an outdoor shade structure used to maintain alternative fleet vehicles. The shade structure allows for fleet vehicles to be maintained in a safe and secure area adjacent to the vehicle maintenance facility. Michael Baker International -31 Triennial Performance Audit of Palo Verde Valley Transit Agency — FYs 2019-2021 Section VI Statement of Facts The following summarizes factual events and trends obtained from this triennial audit covering fiscal years 2019 through 2021. A set of recommendations is then provided. 1. Of the compliance requirements pertaining to PVVTA, the operator fully complied with eight of the nine applicable requirements. PVVTA was in partial compliance regarding farebox recovery attainment for FY 2020. Two additional compliance requirements did not apply to PVVTA (i.e., intermediate farebox recovery ratio under PUC 99270.1 and exclusive urbanized farebox recovery ratio). 2. Based on the farebox calculation in the annual TDA Article 4 Financial Statements (Audited), PVVTA's farebox recovery ratio met or exceeded the required minimum standard of 10 percent during two of the three audit years. The system -wide farebox recovery ratios were 10.43 percent in FY 2019, 9.30 percent in FY 2020, and 17.80 percent in FY 2021.2 It is noted that the audited farebox ratio in FY 2020 was adversely impacted from the COVID-19 pandemic and state shelter - in -place order. Local support revenue such as from fuel sales, private contributions, and LCTOP included in the ratio helped to prop up the farebox calculation. 3. Through its contract operator, PVVTA participates in the CHP Transit Operator Compliance Program in which the CHP has conducted inspections within the 13 months prior to each TDA claim. The CHP inspection reports submitted for review were found to be satisfactory. 4. The operating budget exhibited moderate fluctuations during the audit period. PVVTA saw an increase of 6.2 percent in the operating budget in FY 2019 followed by a 1.9 percent decrease in FY 2020. In FY 2021, the budget increased by 3.9 percent. The increase in the FY 2019 operating budget is attributed to the implementation of the Blythe Wellness Express and higher operations contract costs. 5. PVVTA satisfactorily implemented the three prior audit recommendations. The recommendations pertained to working with local elected officials and stakeholders to expand upon the Blythe Wellness Express to serve veterans, posting Board meeting agendas and minutes on the PVVTA website, and defining roles and responsibilities between the City of Blythe and PVVTA. 6. Operating cost per vehicle service hour, an indicator of cost efficiency, increased 71.1 percent from $141.39 in the FY 2018 base year to $241.91 in FY 2021. Operating costs (before new service exclusions) increased 8.2 percent while vehicle service hours decreased by 36.8 percent during 2 Assembly Bill 90, passed into law and signed by the governor in June 2020 in response to the COVID-19 pandemic impacts, prohibits the imposition of penalties on a transit operator that does not maintain the required ratio of fare revenues to operating cost during FY 2019-20 or FY 2020-21. Michael Baker International -32 Triennial Performance Audit of Palo Verde Valley Transit Agency — FYs 2019-2021 the period. Pursuant to the TDA statute, PVVTA was allowed to exempt new service expansion from its operating cost and farebox revenue calculation for up to two years. 7. Operating cost per passenger, an indicator of cost effectiveness, increased 166.4 percent system- wide from $25.54 in FY 2018 to $68.04 in FY 2021. Ridership system -wide decreased by 59.4 percent, from 44,047 passengers in FY 2018 to 17,892 passengers in FY 2021, while operating costs increased for the same period. 8. Passengers per vehicle service hour, which measures the effectiveness of the service delivered, decreased 35.8 percent system -wide between FY 2018 and FY 2021 from 5.5 passengers per hour to 3.6 passengers per hour. Overall ridership and vehicle service hours decreased by 59.4 percent and 36.8 percent, respectively, during the audit review period. 9. The PVVTA Board of Directors adopted a new fare schedule, which went into effect on July 1, 2019. In addition, PVVTA realigned local routes to meet up at the Main Street Park -and -Ride lot adjacent to the PVVTA administration and operations facility. 10. PVVTA implemented measures and protocols to mitigate the spread of COVID-19. From March 22, 2020, to June 1, 2020, all regular service was temporarily suspended, and a new Community Circulator Response Route (CCRR) was implemented with scheduled service Monday through Friday from 7:00 a.m. to 3:00 p.m. The CCRR was a hybrid of the Silver Route 5, free to riders. 11. At the onset of the COVID-19 pandemic, PVVTA had already established the necessary infrastructure to accommodate remote work. The Agency set up an online Dropbox site to serve as a document exchange. 12. The Agency was awarded a $65,000 voucher from the VW Environmental Mitigation Trust towards the procurement of two ZEVs to be delivered in FY 2023 and FY 2024. The VW Trust provides about $423 million for California to mitigate excess nitrogen oxide emissions. PVVTA has also approached Southern California Edison about the installation of electric charging infrastructure. 13. PVVTA operations was previously managed by the contract general manager provided under the Agency's agreement with Parking Concepts, Inc. In July 2021, the PVVTA board entered into employment negotiations with the contract general manager to serve as the Agency's general manager. The employment contract has been renewed through June 2026. 14. On June 8, 2021, PVVTA and the City of Blythe entered into a formal MOU making PVVTA the sole public transit provider in the City of Blythe. This agreement formalized a long-standing informal agreement allowing PVVTA to share facilities, equipment, services, and personnel with the City of Blythe. The MOU has a five-year term with automatic one-year renewals until either party wishes to terminate. PVVTA examines Agency functions that continue to be provided by the City, such as the accounting system, with an eye towards further independence from City -provided services. Michael Baker International -33 Triennial Performance Audit of Palo Verde Valley Transit Agency — FYs 2019-2021 Recommendations 1. Consult and collaborate with peer transit agencies regarding the implementation of zero emission vehicle technologies. PVVTA has been planning for the implementation of zero emission vehicles (ZEV) and infrastructure in accordance with the California Air Resources Board mandates. The Agency was recently awarded a $65,000 voucher from the Volkswagen (VW) Environmental Mitigation Trust towards the procurement of two ZEVs to be delivered in FY 2023 and FY 2024. PVVTA has also approached Southern California Edison about the installation of electric charging infrastructure at its facilities. As the Agency moves towards the adoption of ZEV, it is suggested that it reach out to peer agencies in Riverside and San Bernardino Counties, which could prove helpful in the evaluation process. Those peer agencies would include neighboring transit systems such as the SunLine Transit Agency and the Victor Valley Transit Authority. 2. Pursue targeted marketing efforts and rebranding of the service. PVVTA has been tasked with serving the mobility needs of eastern Riverside County residents, particularly in the City of Blythe. In recent years, the Agency has implemented route restructuring and the Blythe Wellness Express route to the Coachella Valley to more efficiently serve the needs of riders. PVVTA has been contemplating strategies to improve its messaging and outreach to the community. With the development of the COA, PVVTA has included a marketing component that could potentially identify how the Agency could raise its profile and attract new ridership. Some elements for consideration would include a rebranding initiative. PVVTA should work with the consultant to develop a brand identity for the transit service that could center around a new name, logo, or new vehicle procurement. This could be done in concert with the implementation of ZEVs, smaller -sized vehicles, and mobile fare collection. 3. Revisit fare structure in light of low farebox recovery from passenger revenue. While the fares were adjusted by PVVTA only a few years ago, the farebox ratio without local support for deviated fixed -route service remains well below the TDA standard of 10 percent, even before the pandemic. Trends in fare recovery and recent state legislation generally enable non -fare revenue to be included in the ratio; however, PVVTA should evaluate its fare policy and test fare scenarios in complying with the farebox recovery standard. The COA can provide operational insight on transit services that could be aligned with the various fares charged on the route. PVVTA should balance the level of fare pricing with its ridership market, and undertake a review to verify whether a rebalancing is needed to better align fares and ridership with the ability to meet the recovery standard. Michael Baker International -34 AGENDA ITEM 6J RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: December 14, 2022 TO: Riverside County Transportation Commission FROM: Budget and Implementation Committee Ariel Alcon Tapia, Senior Management Analyst David Knudsen, External Affairs Director THROUGH: Anne Mayer, Executive Director SUBJECT: Quarterly Public Engagement Metrics Report, July -September 2022 BUDGET AND IMPLEMENTATION COMMITTEE AND STAFF RECOMMENDATION: This item is for the Commission to: 1) Receive and file the Quarterly Public Engagement Metrics Report for July -September 2022. BACKGROUND INFORMATION: The Commission's digital communication efforts continue to provide information about vital transportation projects, programs, and initiatives affecting Riverside County residents and other stakeholders. The digital communication also outlines Measure A investments across Riverside County. The External Affairs staff monitors and measures these efforts to understand how audiences respond to the digital information presented across RCTC's social media platforms. This report covers the third quarter of 2022, from July to September. Public engagement activities are summarized in this report and in the attached Public Engagement Metrics. This quarter paid digital advertisements focused on informing the public about the Interim 15 Corridor Operations Project and eastbound 91 weekend closures. While there were increases in followers across all three platforms, advertising drives reach and engagement. Staff strategically boosts and places digital advertising based on the need to increase visibility for specific projects and advocacy efforts. It is important to note that the metrics show comparisons to the previous quarter, which featured a robust public awareness effort with paid advertisements about three proposed assembly bills that would have affected the future of transportation funding. That second quarter public awareness effort drew heavy public engagement and reach that did not continue into this quarter, causing some metrics to show a decline. Agenda Item 6J 419 This quarter's report includes three sets of data: 1) Metrics for RCTC's overall public engagement activities including public sentiment on social media; social media followers, engagement, and reach; email notifications; website use and access; and website top pages visited 2) Metrics for the 1-215 Placentia Avenue Interchange Project including email activity, website sessions, and social media 3) Metrics for RCTC's 15/91 Express Lanes Connector Project including email activity, text messages, website sessions, and social media RCTC Overall Public Engagement 1) Social Media a. Public sentiment was positive with some minor negative dips. Sentiment was mixed on a post related to the opening of the 1-15 Interim Corridor Operations Project in July. Comments relating to widened freeways and need to do more in the area were recorded as negative. Other posts relating to Metrolink offers, IE Commuter information, and the 1-215 Placentia Interchange construction garnered positive reactions. b. Facebook: Followers continue to increase steadily. This quarter, followers grew by 2%, from 12,544 to 12,759. The page had 81,175 forms of engagement, such as likes, comments, and video viewing and shares, a 35% decrease from last quarter's 125,814 forms of engagement. The page reached 1,123,157 unique users for the quarter (followers and non -followers), a decrease of 35% from last quarter's 1,521,409. c. Twitter: The page showed an 8% increase in followers, from 1,469 to 1,594. Engagement increased 3%, from 6,176 to 6,363 while impressions decreased by 80%, from 260,770 to 52,000. While there were fewer paid advertisements on Twitter this past quarter, engagement continued to be strong as more followers and non -followers engaged with organic tweets. d. Instagram: Followers grew by 3%, from 2,480 to 2,550. Engagement increased 972% from 3,702 forms of engagement to 39,696. This significant increase in engagement is attributed to IG stories. In previous reports, engagement with Instagram stories were not captured accurately by Meta, Instagram's parent company. This quarter's reach was 481,085 unique users, a 36% decrease from last quarter's 747,547. 2) The Point E -Newsletter: RCTC continues to produce content for its online blog, The Point, and distributes the publication via email to subscribers. Subscribers increased 1% from 6,021 to 6,057. Approximately 37% of the e -newsletter subscribers opened The Point, a 1% decrease from the previous quarter, and 5% clicked on links to learn more. Agenda Item 61 420 3) Website a. There were 49,238 website visits this quarter, a 21% decrease from last quarter's 62,660 visits. There also were 34,552 unique users, an increase of 30% compared to the previous quarter's 46,082 unique users. b. Most visitors (39%) reached the website via directly (keying in rctc.org) this past quarter. Visitors who accessed through a search engine totaled 38%. This reflects a change from previous quarter that showed most users accessing the website via social media. Users who reached the website via social media dropped to 13%. Others reached the website via other website referrals (9%) and email links (1%). c. Website access by device continues to fluctuate. Visits were 37% via desktop and 63% via mobile device this quarter, compared to 26% via desktop and 74% via mobile last quarter. d. The homepage continues to be the most frequently visited page, followed by the 91 Refresh Project, 15/91 Express Lanes Connector Project page, and employment page. The Meetings and Agendas page was knocked out of the top four pages. 1-215 Placentia Avenue Interchange Public Engagement 1) Emails: Total email sign-ups since the start of the project grew to 5,892. This is a 18% increase over the 1,484 sign-ups received through the end of last quarter and may be related due to increased attention to photos showing construction is almost complete and increased interest in the Mid County Parkway as a whole. There was a total of 47 email inquiries, an increase of 15% over the 41 inquiries through the end of last quarter. 2) Webpage: Visits to the project webpage grew to 5,892, a 18% increase from the 4,998 visits through the end of last quarter. 3) Social Media: This project does not have designated social media accounts. RCTC's social media accounts, @theRCTC, are being used for this project. Total social media post engagements totaled 8,026 for this quarter, an 88% increase from the 4,270 engagements through the end of the previous quarter. 15/91 Express Lanes Connector Public Eneaeement 1) Emails: Email sign-ups during the last quarter totaled 3,059, an increase of 11%. The project team received 19 email inquiries to date. 2) Texts: A total of 327 people have registered to receive texts, a 23% increase over the 266 sign-ups through the end of last quarter. 3) Webpage: Visits to the project webpage grew 18% during the quarter, from 22,038 visits last quarter to 26,063 visits this quarter. 1) Social Media: Facebook page likes increased to 3,239 compared to 3,221 last quarter, a 1% increase. Twitter grew by 6% from 359 to 381 followers. Instagram followers increased 5% from 805 to 849 followers. Agenda Item 61 421 FISCAL IMPACT: This is an informational item. There is no fiscal impact. Attachments: 1) RCTC Overall Public Engagement Metrics 2) 1-215 Placentia Interchange Construction Public Engagement Metrics 3) 15/91 Express Lanes Connector Construction Public Engagement Metrics Agenda Item 61 422 i Public Engagement Metrics: Q3 Overall Social Media Sentiment 1.00 -1.00 7/1 7/8 7/15 7/22 7/29 8/6 8/13 8/20 8/27 9/3 9/10 9/17 9/30 7/23 (+/-) Mixed sentiment and engagement relating to 1-15 ICOP opening 8/14 (-) Negative trend due to 91 Refresh full closure announcements 9/15 (+) Sustained positive sentiment from CV Rail support campaign Social Media Facebook Followers 12,759 Engagement 81,175 Reach 1,123,157 Eblasts Subscribers 6,057 Average Open 37% Average Click 5% Instagram Followers 2,550 Engagement 39,696 Reach 481,085 +3% +972% *Significant increase in Instagram engagement is due to metrics accurately counting IG Stories 423 ATTACHMENT 1 49,238 Number of Sessions -21% Top Channels 1% July - September 2022 34,552 Number of Unique Users • Direct (39%) • Organic (38) Social (13%) Referral (9%) • Email (1%) -25% Differences Social media referrals decreased, while direct and organic increased. Top Pages Visited The Homepage was the most visited page, followed by: 2 91 Refresh Project 3 15/91 Express Lanes Connector Project 4 Employment Desktop vs Mobile Users Desktop Mobile 63% • Mid County Parkway PLACENTIA INTERCHANGE Email Sign -Ups 1-215 Placentia Interchar1 I I k.01 %..L Quarterly "At -a -Glance" Metrics Report Number of Sign -Ups 2000 1500 1000 500 0 499 327 155 II � 9 677 868 1,067 1,273 1,484 1,6'2 yeQ� Qea Oat 1 cit Oea 4•ac 1 y09 ,,\ O 'ac V*9 )° Off, ,ac viR �. Website Sessions Total Website visits to Date 6000 5000 4000 3000 2000 1,757 1,243 1000 488 . 0 3,387 3,811 4,446 4,998 5,892 O J n0 J 01' 01' 01''� o1^ 01' J el, ye't : Crac`L )) e Lie9�O GI, fat 42 Emails to Project Team ATTACHMENT 2 July - September 2022 Number of Emails 50 40 30 20 10 0 34 23 41 111 47 ye :0 ,4> 4> v). (43 pea �ac v> cp V). 0 �a v9 �o�� OC lac v9 VI Social Media Post Engagements Number of Post Engagements 10000 8000 6000 4000 12,827 2,915 13,088 3,390 3, 514 2,623 2,016 2000 0 4,270 8,026 i 9 ti019 beer r> ti��� ti��� ,fv ti��� �� �� Oe �a �Jo � Qe �a �J yeQ ��' pZ` Va° PQc vJ o� Sao PQc VJ� ATTACHMENT 3 15/91 EXPRESS LANES CONNECTOR Email R Tpxt Alert Sinn-Uns Quarterly "At -a -Glance" Metrics Report Number of Sign -Ups 3500 3000 2500 2000 1500 1000 500 0 2,825 2,809 2,489 2,538 2,767 3,059 • Email Sign -Ups • Text Sign -Ups Website Sessions 30000 Q 25000 0 20000 10000 15000 12,418 8,834 5,714 a 5000 0 • 17,526 26,063 22,038 - 425 Emails to Proiect Team July - September 2022 Number of Emails and Calls 20 15 10 5 0 7 3 • 14 18 19 19 Social Media Followers Number of Followers 3500 3000 2500 2000 1500 1000 500 0 2,778 2,798 2,736 3,006 3,221 3,239 • Facebook Followers • Instagram Followers Twitter Followers AGENDA ITEM 6K RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: December 14, 2022 TO: Riverside County Transportation Commission FROM: Toll Policy and Operations Committee Reinland Jones, Toll Technology Manager THROUGH: Anne Mayer, Executive Director SUBJECT: Amend the Interstate 15 Express Lanes Project Toll Services Contract with TOLL POLICY AND OPERATIONS COMMITTEE AND STAFF RECOMMENDATION: This item is for the Commission to: 1) Approve Agreement No. 16-31-043-03, Amendment No. 03 to Agreement No. 16-31-043-00, with Kapsch TrafficCom USA Inc. (Kapsch) for the Toll Services Contract for 15 Express Lanes Project to extend the contract term by five years, in the amount of $42,219,382, plus a contingency amount of $4,222,000, for a total amount not to exceed $46,441,382; 2) Authorize the payment of passthrough items in an amount not to exceed $3 million; and 3) Authorize the Chair or Executive Director, pursuant to legal counsel review, to execute the Amendment on behalf of the Commission. BACKGROUND INFORMATION: In late 2015, staff began the process to procure a toll system provider and operator for the 15 Express Lanes. On January 26, 2017, the Commission approved a Toll Service Contract with Kapsch to design, implement, operate and maintain the roadside and customer service operations for the 15 Express Lanes (the Contract). Notice to Proceed was issued to Kapsch and the work required to open the 15 Express Lanes was completed in April of 2021. It took over 5 and % years to procure and implement the systems and services required to operate the 15 express Lanes. The current Commission -approved contract period expires on April 13, 2026. The Contract provides for up to five additional years of operations and maintenance support. The cost for the additional years is the amount of the operations and maintenance services provided in the Contract for the fifth year of services escalated by the Consumer Price Index, with a limit of 3 percent increase each year. In 2018, the Commission approved the addition of the 91 Express Lanes roadside system and to the Contract to allow for the processing of transactions for customers that use both the 15 and Agenda Item 6K 426 91 Express Lanes. In 2022, the Commission approved the addition of the 15/91 Express Lanes Connector roadside system to the Contract. In September 2022, the Commission approved the addition of operations and maintenance to the Contract. The Commission has invested significant capital in the Kapsch roadside and back -office systems. Table 1 below summarizes the cost related to the Kapsch system design and implementation. Roadside Systems Back Office Systems Totals 15 Express Lanes $ 12,332,526 $ 6,359,062 $ 18,691,588 91 Express Lanes $ 7,993,118 NA $ 7,993,118 15/91 Express Lanes Connector $ 6,537,634 NA $ 6,537,634 Total $ 33,222,340 Table 1: Kapsch System Design and Implementation Costs Note: The Back Office System Provider for the 91 Express Lanes is Cofiroute USA. DISCUSSION: Kapsch has designed, installed, and successfully operated a roadside system for the Commission's 15 Express Lanes. The Kapsch roadside system that is currently operated on the 91 and 15 Express Lanes allows Kapsch to identify vehicles at each toll point and assign the correct toll. For the 15 Express Lanes, Kapsch sets the toll rate through a dynamic pricing system they developed for the Commission. For both the 91 and 15 Express Lanes, Kapsch manages the posting of the current toll on the on -road price signs. The roadside system and dynamic pricing are complex systems which operate according to the Commission's unique business rules and express lanes physical configurations. Kapsch has a team that operates and maintains the roadside systems' hardware and software. The Contract requires Kapsch to provide 24 -hour, 7 day a week monitoring and repair of the roadside systems. Additionally, the local maintenance team performs regular preventative maintenance. Kapsch also designed and successfully installed a back -office system for the 15 Express Lanes. The Kapsch roadside system sends transactions to the back -office system for processing. The back -office system identifies transactions and processes them to the 15 Express Lanes customer account, a customer from another toll facility, or through violation processing. Kapsch also provides an account management module, violation collection module, automated phone system and a customer website. Like the roadside systems, the customer service center was designed to meet the specific business rules and requirements of the Commission. The Kapsch team successfully maintains the back -office system in accordance with the requirements set forth in the Contract. In addition to maintaining the systems described above, Kapsch provides the staff required to administer and operate the customer service center. Kapsch staff answers the 15 Express Lanes phones, assists customers in the walk-in customer service center, processes mail, processes Agenda Item 6K 427 contested violations, processes payments and performs the financial duties associated with the collection of tolls and account management. Kapsch has provided excellent customer services since the opening of the 15 Express Lanes. After almost two years of operation, staff is confident in the ability of Kapsch to perform the work required in the Contract. Staff believes the current Contract operations and maintenance costs are fair and reasonable. Considering the significant capital and time spent to procure, design, and implement the current systems and services, staff believes it is in the best interest of the Commission to extend the Contract for the five additional years provided for in the Contract. Extending the Contract beyond April 2026 will provide the following benefits: 1. Ensure continuation of services beyond April 2026; 2. Save staff time and costs related to re -procurement; 3. Save capital investment for new systems that would be required if the toll services provider is reprocured; 4. Allows Commission to lock -down operating costs through April 2031; 5. Allows Commission and Kapsch to continue in their existing working relationship; The payment of operations and maintenance services in the Contract is a mixture of fixed and variable fees based on the number of transactions. As stipulated in the contract terms, the fixed fee is based on year 5 of the contract with an annual escalation of 3 percent. Staff has estimated the variable volumes to determine the amount of contract authority required for the additional five -years (April 14, 2026 thru April 13, 2031) as provided for in Table 2. If approved, Kapsch will be paid according to actual volumes at the rate provided for in the Contract beginning in April 2026 as follows: Roadside Systems Back Office Systems Total Year 6 $ 3,037,614 $ 4,913,849 $ 7,951,463 Year 7 $ 3,128,742 $ 5,061,638 $ 8,190,380 Year 8 $ 3,222,604 $ 5,213,874 $ 8,436,478 Year 9 $ 3,319,282 $ 5,370,691 $ 8,689,973 Year 10 $ 3,418,861 $ 5,532,227 $ 8,951,088 Total $ 42,219,382 Table 2: Kapsch Annual Operations and Maintenance estimated costs In order to obtain the best fixed price from the proposers, as part of the original procurement, staff identified various costs as pass -through items. The contract includes several items which the contractor administers on behalf of the Commission and request reimbursement from the Commission. Such items include credit card processing fees, postage costs, bank fees, and customer material print costs. The amount of costs associated with the eligible passthrough costs varies depending on the number of customers and revenue processed. Staff removed the risk for Agenda Item 6K 428 this estimate from the proposer in an attempt to obtain the best value proposal for the fixed price operations and maintenance periods. The Commission authorized the reimbursement of up to $5 million in pass -through costs for the base five-year period. Staff has worked with the contractor to establish an annual pass -through budget each year. Based on the current pass -through budget and expenditures it is estimated that at the end of the initial five-year Contract period, $1.5 million of the authorized pass -through amount will remain for use in the five-year option period. Based on current trends in pass -through costs, staff recommends $3 million in pass -through authorization for the additional five years. A 10 percent contingency, in the amount of $4,222,000, is being requested to cover any system modifications or increases in the estimated variable pricing components of the contract during the five-year extension. System modifications could arise due to changes related to the regional interoperable process, national interoperable process, legislation or improvements in technology. The Contract has a variable component based on the number of customer accounts managed and violations processed. Estimates were used to arrive at the requested Contract amount. Should the actual volumes exceed those estimated, contingency would be used to pay increase. RECOMMENDATION: Staff recommends approval of Agreement No. 16-31-043-03 to amend the Contract extending the Contract term by five years and authorizing additional operations and maintenance costs for the extended term in the amount of $42,219,382, plus a contingency amount of $4,222,000, for a total amount not to exceed $46,441,382. Further, authorization is requested for payment of pass -through costs up to a total amount of $3 million. FISCAL IMPACT: Funding for this extension will be provided by toll revenue from both the 15 and 91 Express Lanes and will be included in future budgets beginning in April 2026 (Fiscal Year 2025/26). Agenda Item 6K 429 Financial Information In Fiscal Year Budget: N/A Year: FY 2026+ Amount: $49,441,382 Source of Funds: 91 Express Lanes Toll Revenue 15 Express Lanes Toll Revenue Budget Adjustment: No GL/Project Accounting No.: 009199 81041 00000 0000 591 31 81002 001599 81041 00000 0000 515 31 81002 Fiscal Procedures Approved: Date: 11/14/2022 Attachments: Draft Amendment to Kapsch Traffic Com Agreement No. 16-31-043-03 Approved by the Toll Policy and Operations Committee on November 29, 2022 In Favor: 5 Abstain: 0 No: 0 Agenda Item 6K 430 Agreement No. 16-31-043-03 AMENDMENT NO. 3 TO TOLL SERVICES CONTRACT FOR THE 1-15 EXPRESS LANES PROJECT 1. PARTIES AND DATE This Amendment No. 3 to the Toll Services Contract for the 1-15 Express Lanes Project is made and entered into as of this day of , 2022, by and between the RIVERSIDE COUNTY TRANSPORTATION COMMISSION ("RCTC") and KAPSCH TRAFFICCOM USA, INC., a corporation organized under the laws of Delaware ("Toll Services Provider" or "TSP"), f/k/a Kapsch Trafficcom Transportation NA, Inc. RCTC and Toll Services Provider are sometimes referred to herein, collectively, as the "Parties". 2. RECITALS 2.1 RCTC and Toll Services Provider entered into that certain Toll Services Contract for the 1-15 Express Lanes Project, Agreement No. 16-31-043-00, dated January 26, 2017 (the "Contract"). 2.2 RCTC and Toll Services Provider entered into that certain Amendment No. 1 to the Contract, dated August 9, 2017, to revise the definition of "Indemnified Parties" to include the United States Department of Transportation as TIFIA Lender. 2.3 RCTC and Toll Services Provider have entered into twenty six (26) Change Orders to address changes to the Contract, as set forth in said Change Orders. 2.4 RCTC and Toll Services Provider have entered into an Amendment No. 2 to the Contract, dated May 19, 2022, to set forth the agreed upon cost reimbursement to be provided to RCTC for Toll Services Provider delays, and the method for such cost reimbursement to be paid to RCTC by Toll Services Provider in order to resolve all claims related to the delays identified in Amendment No. 2, and any and all potential delay claims related to Request For Change Order Numbers 13, 14, 18, 19 and 22 (the "RFCOs"). 2.5 RCTC and Toll Services Provider now desire to enter into this Amendment No. 3 to the Contract to exercise all five 1 year O&M Options in order to extend the O&M Term by 5 years, and to provide additional compensation for the extended O&M Term. 1 17336.02109\40836571.2 431 3. TERMS 3.1 The recitals set forth above are true and correct and are incorporated into this Amendment No. 3 as if fully set forth herein. Capitalized terms used in this Amendment No. 3 and not otherwise defined shall have the meanings as set forth in the Contract. 3.2 RCTC hereby exercises all five 1 year O&M Options. Pursuant to Section 3.2 of the Contract, the O&M Term shall be extended by 5 years. 3.3 Compensation for each O&M Option Period shall be determined in accordance with Section 3.2.4 of the Contract, as previously amended, with the Escalation Factor applied, as defined and further detailed in the Contract, prior to commencement of each O&M Option Period. 3.4 An additional not to exceed sum of $42,219,382 is allocated to the Contract pursuant to this Amendment No. 3, for the full additional 5 year O&M Term and exercise of O&M Option Periods 1 through 5. 3.5 This Amendment No. 3 may be executed in any number of counterparts, each copy of which shall have the same force and effect as the original agreement. Facsimile signatures, including signatures transmitted by electronic mail, shall have the same force and effect as original signatures. This Amendment No. 3 may be signed using an electronic signature. 3.6 This Amendment No. 3 shall be governed by the laws of the State of California. Venue shall be in Riverside County. 3.7 Except as amended by this Amendment No. 3, all provisions of the Contract, as previously amended, shall remain in full force and effect and shall govern the actions of the Parties under this Amendment No. 3. [Signatures on following page] 2 17336.02109\40836571.2 432 SIGNATURE PAGE TO AGREEMENT NO. 16-31-043-03 IN WITNESS WHEREOF, the Parties have executed this agreement on the date first herein above written. RIVERSIDE COUNTY KAPSCH TRAFFICCOM TRANSPORTATION COMMISSION USA, INC. By: Anne Mayer, Executive Director Signature Name Title APPROVED AS TO FORM: CA Contractor License #: 1021321 By: Best Best & Krieger LLP General Counsel 3 17336.02109\40836571.2 433 AGENDA ITEM 6L RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: December 14, 2022 TO: Riverside County Transportation Commission FROM: Western Riverside County Programs and Projects Committee David Lewis, Capital Projects Manager THROUGH: Anne Mayer, Executive Director SUBJECT: Agreements for On -Call Environmental Consulting Services WESTERN RIVERSIDE COUNTY PROGRAMS AND PROJECTS COMMITTEE AND STAFF RECOMMENDATION: This item is for the Commission to: 1) Award the following agreements to provide on -call environmental consulting services for a three-year term, and one, two-year option to extend the agreements, in an amount not to exceed an aggregate value of $3,000,000; a) Agreement No. 22-31-092-00 to GPA Consulting; b) Agreement No. 22-31-103-00 to HNTB Corporation; c) Agreement No. 22-31-104-00 to ICF Jones & Stokes, Inc.; and d) Agreement No. 22-31-105-00 to Stantec Consulting Services, Inc.; 2) Authorize the Chair or Executive Director, pursuant to legal counsel review, to execute the agreements, including option years, on behalf of the Commission; and 3) Authorize the Executive Director, or designee, to execute task orders awarded to the consultants under the terms of the agreements. BACKGROUND INFORMATION: The Commission requires comprehensive on -call consulting services related to various environmental and archaeological services. These services include, but are not limited to, coordination with resources agencies, Caltrans and local jurisdictions; review of National Environmental Policy Act and California Environmental Quality Act documents; permitting preparation; monitoring and documentation of environmental commitments; and support of the Western Riverside County Multi -Species Habitat Conservation Plan projects. While the Commission typically has most of the environmental -related consulting services described above accomplished through contracts for the preliminary engineering/environmental phase of a project, there are occasions in which these services will be needed outside the environmental phase. Examples of this include the need for permitting prior to construction, construction monitoring, or mitigation. Agenda Item 6L 434 The purpose of this procurement is to provide the Commission with these comprehensive on -call professional environmental consulting services for a variety of Commission capital projects with Caltrans, Federal Highway Administration, and/or Federal Transit Administration funding projects. In November 2018, the Commission approved similar contracts with three firms for up to five-year terms; these contracts have been used successfully to deliver projects and react to new and changing conditions rapidly. The total authorized amount on those contracts was $1.5 million, of which $1.5 million was expended. Procurement Process Pursuant to Government Code 4525 et seq, selection of architect, engineer, and related services shall be on the basis of demonstrated competence and on professional qualifications necessary for the satisfactory performance of the services required. Therefore, staff used the qualification method of selection for the procurement. Evaluation criteria included elements such as qualifications of firm, staffing and project organization, project understanding and approach, and the ability to respond to the requirements set forth under the terms of a request for qualifications (RFQ). RFQ No. 22-31-092-00 for on -call environmental consulting services was released by staff on June 2, 2022. The RFQ was posted on the Commission's Planet Bids website, which is accessible through the Commission's website. Through Planet Bids, 81 firms downloaded the RFQ; 9 of these firms are located in Riverside County. A pre -submittal meeting was held on June 21, 2022 and attended by 10 firms. Staff responded to all questions submitted by potential proposers prior to the July 1, 2022, clarification deadline. Six firms — GPA Consulting (El Segundo); HNTB Corporation (Ontario); ICF Jones & Stokes, Inc. (Irvine); Jennings Environmental, LLC (Yucaipa); Stantec Consulting Services, Inc. (Los Angeles); and UltraSystems Environmental, Inc. (Irvine) — submitted responsive and responsible statements of qualifications prior to the 2:00 p.m. submittal deadline on July 14, 2022. Based on the evaluation criteria set forth in the RFQ, the firms were evaluated and scored by an evaluation committee comprised of Commission, Caltrans and Bechtel staff. As a result of the evaluation committee's assessment of the written statements of qualifications, the evaluation committee determined four firms — GPA Consulting, HNTB Corporation, ICF Jones & Stokes, and Stantec Consulting Services, Inc. — to be the most qualified firms to provide on -call environmental consulting services. The evaluation committee recommends contracts for these four firms for a three-year term, and one, two-year option to extend the agreements, in the aggregate amount of $3,000,000, as these firms earned the highest total evaluation scores. The multiple award, on -call, indefinite delivery/indefinite quantity task order type contracts do not guarantee work to any of the awardees; therefore, no funds are guaranteed to any consultant. Pre -qualified consultants will be selected for specific tasks based on qualification Agenda Item 6L 435 information contained in their proposals and/or competitive fee proposals for the specific tasks. Services will be provided through the Commission's issuance of contract task orders to the consultants on an as -needed basis. The Commission's model on -call professional services agreement will be entered into with each consultant firm, subject to any changes approved by the Executive Director, pursuant to legal counsel review. Staff oversight of the contracts and task orders will maximize the effectiveness of the consultants and minimize costs to the Commission. FISCAL IMPACT: Funding for these services will be provided by Measure A and various local, state, and federal sources. Financial Information In Fiscal Year Budget: Yes Year: FY 2022/23 FY 2023/24+ Amount: $300,000 $2,700,000 Source of Funds: Measure A and various local, state, and federal sources. Budget Adjustment: No GL/Project Accounting No.: 00623999 65520 00000 0000 262 31 65520 00654199 65520 00000 0000 265 33 65520 Fiscal Procedures Approved: Date: 11/09/2022 Attachments: 1) Draft On -Call Professional Services Agreement No. 22-31-092-00 with GPA Consulting 2) Draft On -Call Professional Services Agreement No. 22-31-103-00 with HNTB Corporation 3) Draft On -Call Professional Services Agreement No. 22-31-104-00 with ICF Jones & Stokes 4) Draft On -Call Professional Services Agreement No. 22-31-105-00 with Stantec Consulting Services Approved by the Western Riverside County Programs and Projects Committee on November 28, 2022 In Favor: 11 Abstain: 0 No: 0 Agenda Item 6L 436 ATTACHMENT 1 Agreement No. 22-31-092-00 PROFESSIONAL SERVICES AGREEMENT WITH PROPOSITION 1 B, FTA AND FHWA FUNDING ASSISTANCE RIVERSIDE COUNTY TRANSPORTATION COMMISSION AGREEMENT WITH GPA CONSULTING FOR ON -CALL ENVIRONMENTAL CONSULTING SERVICES Parties and Date. This Agreement is made and entered into this day of , 2022, by and between the RIVERSIDE COUNTY TRANSPORTATION COMMISSION ("the Commission") and GPA CONSULTING ("Consultant"), S -Corporation. The Commission and Consultant are sometimes referred to herein individually as "Party", and collectively as the "Parties". %1Or Recitals. A. On November 8, 1988 the Voters of Riverside County approved Measure A authorizing the collection of a one-half percent (1/2 %) retail transactions and use tax (the "tax") to fund transportation programs and improvements within the County of Riverside, and adopting the Riverside County Transportation Improvement Plan (the "Plan"). B. Pursuant to Public Utility Code Sections 240000 et seq., the Commission is authorized to allocate the proceeds of the Tax in furtherance of the Plan. C. On November 5, 2002, the voters of Riverside County approved an extension of the Measure A tax for an additional thirty (30) years for the continued funding of transportation and improvements within the County of Riverside. D. A source of funding for payment for on -call professional consulting services provided under this Agreement may be State Proposition 1B funds, Federal Highway Administration Funds ("FHWA") administered by the California Department of Transportation ("Caltrans"), and/or funds from the Federal Transit Administration ("FTA"). E. Consultant desires to perform and assume responsibility for the provision of certain on -call environmental consulting services in the County of Riverside, California. Services shall be provided on the terms and conditions set forth in this Agreement and in the task order(s) to be issued pursuant to this Agreement and executed by the Commission and the Consultant ("Task Order"). Consultant represents that it is experienced in providing such services to public clients, is licensed in the State of California (if necessary), and is familiar with the plans of the Commission. 437 F. The Commission desires to engage Consultant to render such services on an on -call basis. Services shall be ordered by Task Order(s) to be issued pursuant to this Agreement for future projects as set forth herein and in each Task Order (each such project shall be designated a "Project" under this Agreement). Terms. 1. General Scope of Services. Consultant shall furnish all technical and professional services, including labor, material, equipment, transportation, supervision and expertise, and incidental and customary work necessary to fully and adequately supply the on -call environmental consulting services for the Projects ("Services"). The Services are generally described in Exhibit "A" attached hereto and incorporated herein by reference. The Services shall be more particularly described in the individual Task Orders issued by the Com ission's Executive Director or designee. No Services shall be performed unless au ► -d by a fully executed Task Order. All Services shall be subject to, and perfor in . .rdance with, this Agreement, the relevant Task Order, the exhibits attache • reto an• corporated herein by reference, and all applicable local, state and federal I. rules ar re• .tions. The Consultant shall commence work upon receipt of a written "Notice to •c- or imited Notice to Proceed" from Commission. 3. Pre -Award Audit. As . sult of t - •eral funding for this Project, and to the extent Caltrans procedures apply c• - • therewith, issuance of a "Notice to Proceed" may be contingent upon c d app oval of a pre -award audit. Any questions raised during the pre -award audit be r d before the Commission will consider approval of this Agreement. The f= -ral pro d under this Agreement is contingent on meeting all Federal requireme s d be drawn, thereby entitling the Commission to terminate this Agreement, i e pro dures not completed. The Consultant's files shall be maintained in a manner to facilitate F and State process reviews. In addition, the applicable federal agency, or Caltra ting behalf of a federal agency, may require that prior to performance of work for which Federal reimbursement is requested and provided, that said federa gency or Caltrans must give to Commission an "Authorization to Proceed". 4. Audit Procedures. Consultant and subconsultant contracts, including cost proposals and ICR, are subject to audits or reviews such as, but not limited to, a contract audit, an incurred cost audit, an Independent Cost Review (ICR) Audit, or a CPA ICR audit work paper review. If selected for audit or review, this Agreement, Consultant's cost proposal and ICR and related work papers, if applicable, will be reviewed to verify compliance with 48 CFR, Part 31 and other related laws and regulations. In the instances of a CPA ICR audit work paper review it is Consultant's responsibility to ensure federal, state, or local government officials are allowed full access to the CPA's work papers including making copies as necessary. This Agreement, Consultant's cost proposal, and ICR shall be adjusted by Consultant and approved by the Commission's contract manager to conform to the audit or review recommendations. Consultant agrees that individual terms of costs identified in the audit report shall be incorporated into this Agreement by this 438 reference if directed by Commission at its sole discretion. Refusal by Consultant to incorporate audit or review recommendations, or to ensure that the federal, state or local governments have access to CPA work papers, will be considered a breach of the Agreement terms and cause for termination of this Agreement and disallowance of prior reimbursed costs. Additional audit provisions applicable to this Agreement are set forth in Sections 23 and 24 of this Agreement. 5. Term. 5.1 This Agreement shall go into effect on the date first set forth above, contingent upon approval by Commission, and Consultant shall commence work after notification to proceed by Commission's Contract Administrator. This Agreement shall end three years from the date set forth above, unless extended by contract amendment. The Commission shall have the option to extend the term for one, two-year option. In no case shall the term of this Agr t-nt exceed five (5) years. All Task Order work should be completed within the t 5.2 not binding on Com Commission. ad : ised that any recommendation for contract award is reement is fully executed and approved by the 5.3 This A• eme unless earlier terminated as provi within the term of this Agreement, deadlines. All applicable indemni effect following the termination of this Agree remain in effect until the date set forth above, herein. ,.nsultant shall complete the Services any other established schedules and ons o. this Agreement shall remain in 6. Commission's Contract Admini a Co p ission hereby designates the Commission's Executive Director, or his her igne= , o act as its Contract Administrator for the performance of this Agreement (" ission's Contract Administrator"). Commission's Contract Administrator shall th..:'.uthority to act on behalf of the Commission for all purposes under this Agree. °' t. Commission's Contract Administrator shall also review and give approval, as nee• •, to the details of Consultant's work as it progresses. Consultant shall not accept direction or orders from any person other than the Commission's Contract Administrator or his or her designee. 7. Consultant's Representative. Consultant hereby designates Richard Galvin to act as its Representative for the performance of this Agreement ("Consultant's Representative"). Consultant's Representative shall have full authority to act on behalf of Consultant for all purposes under this Agreement. The Consultant's Representative shall supervise and direct the Services, using his or her professional skill and attention, and shall be responsible for all means, methods, techniques, sequences and procedures and for the satisfactory coordination of all portions of the Services under this Agreement. Consultant shall work closely and cooperate fully with Commission's Contract Administrator and any other agencies which may have jurisdiction over, or an interest in, the Services. Consultant's Representative shall be available to the Commission staff at all reasonable 439 times. Any substitution in Consultant's Representative shall be approved in writing by Commission's Contract Administrator. 8. Substitution of Key Personnel. Consultant has represented to the Commission that certain key personnel will perform and coordinate the Services under this Agreement. Should one or more of such personnel become unavailable, Consultant may substitute other personnel of at least equal competence upon written approval by the Commission. In the event that the Commission and Consultant cannot agree as to the substitution of the key personnel, the Commission shall be entitled to terminate this Agreement for cause, pursuant to the provisions herein. The key personnel for performance of this Agreement are: Laura Comstock, Richard Galvin, Ryan Todaro, Jennifer Johnson, and Jenna Kachour, or as otherwise identified in the Task Order. 9. Standard of Care; Licenses. Consultant represents and maintains that it is skilled in the professional • necessary to perform all Services, duties and obligations required by this Agree to and adequately complete the Project. Consultant shall perform the Service d dutie in conformance to and consistent with the standards generally recogniz pl ed by professionals in the same discipline in the State of California. C•�� �� . It �`ar �� at all employees and subcontractors shall have sufficient skill and expen to y orm ' a Services assigned to them. Consultant further represents and warrants to th . sio hat its employees and subcontractors have all licenses, permits, qualificatio ` and als of whatever nature that are legally required to perform the Services, and that uch lice and approvals shall be maintained throughout the term of this Agree nt : nt shall perform, at its own cost and expense and without reimbursemen .m ommi , ion, any services necessary to correct errors or omissions which are caused nt's failure to comply with the standard of care provided for herein, and sh. .e resp• : ible to the Commission for all damages and other liabilities provided r 'u :. a ;,.demn ation provisions of this Agreement arising from the Consultant's errors and omissi. Any employee of Consultant or its sub -consultants who is determined by ommission to be uncooperative, incompetent, a threat to the adequate or time) .mple on of the Project, a threat to the safety of persons or property, or any employe- o fails or refuses to perform the Services in a manner acceptable to the Commission, s all be promptly removed from the Project by the Consultant and shall not be re-employed to perform any of the Services or to work on the Project. 10. Independent Contractor. The Services shall be performed by Consultant or under its supervision. Consultant will determine the means, methods and details of performing the Services subject to the requirements of this Agreement. Commission retains Consultant on an independent contractor basis and not as an employee, agent or representative of the Commission. Consultant retains the right to perform similar or different services for others during the term of this Agreement. Any additional personnel performing the Services under this Agreement on behalf of Consultant shall at all times be under Consultant's exclusive direction and control. Consultant shall pay all wages, salaries and other amounts due such personnel in connection with their performance of Services and as required by law. Consultant shall be responsible for all reports and obligations respecting such personnel, including but not limited to, social security taxes, income tax 440 withholdings, unemployment insurance, disability insurance, and workers' compensation insurance. 11. Task Orders; Commencement of Services; Schedule of Services. Consultant shall commence Services under a Task Order within five (5) days of receiving a fully executed Task Order from the Commission. Each Task Order shall identify the funding source(s) to be used to fund the Services under the relevant Task Order, and Consultant shall comply with the requirements specified herein, and in the attached exhibits, applicable to the identified funding source(s). Consultant shall perform the Services expeditiously, within the term of this Agreement, and in accordance with any schedule of Services set forth in a Task Order ("Schedule"). Consultant represents that it has the professional and technical personnel to perform the Services in conformance with such conditions. In order to facilitate Consultant's conformance submittals in a timely Consultant shall prov Schedule of Servic he Schedule, the Commission shall respond to Consultant's pon request of Commission's Contract Administrator, tailed schedule of anticipated performance to meet the 11.1 Mo• io dule. Consultant shall regularly report to the Commission, through corres�, d - • progress reports, its progress in providing required Services within the sched me periods. Commission shall be promptly informed of all anticipated delays. I e event onsultant determines that a schedule modification is necessary, Consults sh- submit a revised Schedule of Services for approval by Commission's Contra.' • • - ator. 11.2 Trend Meetings. Cons I, ; nt II co ,h ct trend meetings with the Commission's Contract Administrator and o e n ted • . ;es, as requested by the Commission, on a bi-weekly basis or as may mutu' '' sche ed by the Parties at a standard day and time. These trend meetings will encomp 4 .. used and informal discussions concerning scope, schedule, and current progre •f Se ices, relevant cost issues, and future Project objectives. Consultant shall be •onsible for the preparation and distribution of meeting agendas to be received '. the Commission and other attendees no later than three (3) working days prior to the meeting. 11.3 Progress Reports. As part of its monthly invoice, Consultant shall submit a progress report, in a form determined by the Commission, which will indicate the progress achieved during the previous month in relation to the Schedule of Services. Submission of such progress report by Consultant shall be a condition precedent to receipt of payment from the Commission for each monthly invoice submitted. 12. Delay in Performance. 12.1 Excusable Delays. Should Consultant be delayed or prevented from the timely performance of any act or Services required by the terms of the Agreement by reason of acts of God or of the public enemy, acts or omissions of the Commission or other governmental agencies in either their sovereign or contractual capacities, fires, 441 floods, epidemics, quarantine restrictions, strikes, freight embargoes or unusually severe weather, performance of such act shall be excused for the period of such delay. 12.2 Written Notice. If Consultant believes it is entitled to an extension of time due to conditions set forth in subsection 12.1, Consultant shall provide written notice to the Commission within seven (7) working days from the time Consultant knows, or reasonably should have known, that performance of the Services will be delayed due to such conditions. Failure of Consultant to provide such timely notice shall constitute a waiver by Consultant of any right to an excusable delay in time of performance. 12.3 Mutual Agreement. Performance of any Services under this Agreement may be delayed upon mutual agreement of the Parties. Upon such agreement, Consultant's Schedule of Services shall be extended as necessary by the Commission. Consultant shall take all reasonable steps to minimize delay in completion, and additional costs, res • from any such extension. 13. Prelimi Revie •f Work. All reports, working papers, and similar work products prepared ubmissi• in t - course of providing Services under this Agreement shall be submitted t• •e C• i . Contract Administrator in draft form, and the Commission may requir- io► .f su • rafts prior to formal submission and approval. In the event plans and desig . r- be veloped as part of the Project, final detailed plans and designs shall be c ., Inge obtaining environmental clearance as may be required in connection with Federa unding. - e event that Commission's Contract Administrator, in his or her sole disc io • '' es the formally submitted work product to be not in accordance with the s . - : re es blished under this Agreement, Commission's Contract Administrator may re e C nt to revise and resubmit the work at no cost to the Commission. 14. Appearance at Hearings. If a wherltrequir';<,., by the Commission, Consultant shall render assistance at public hearings or other a stings related to the Project or necessary to the performance of the Services. How r, C• `'sultant shall not be required to, and will not, render any decision, interpretatio ecommendation regarding questions of a legal nature or which may be construed as ° onstituting a legal opinion. 15. Opportunity to Cure; Inspection of Work. Commission may provide Consultant an opportunity to cure, at Consultant's expense, all errors and omissions which may be disclosed during Project implementation. Should Consultant fail to make such correction in a timely manner, such correction may be made by the Commission, and the cost thereof charged to Consultant. Consultant shall allow the Commission's Contract Administrator, Caltrans and FHWA to inspect or review Consultant's work in progress at any reasonable time. 16. Claims Filed by Contractor. 16.1 If claims are filed by the Commission's contractor for the Project ("Contractor") relating to work performed by Consultant's personnel, and additional information or assistance from the Consultant's personnel is required by the Commission 442 in order to evaluate or defend against such claims; Consultant agrees to make reasonable efforts to make its personnel available for consultation with the Commission's construction contract administration and legal staff and for testimony, if necessary, at depositions and at trial or arbitration proceedings. 16.2 Consultant's personnel that the Commission considers essential to assist in defending against Contractor claims will be made available on reasonable notice from the Commission. Consultation or testimony will be reimbursed at the same rates, including travel costs that are being paid for the Consultant's personnel services under this Agreement. 16.3 Services of the Consultant's personnel and other support staff in connection with Contractor claims will be performed pursuant to a written contract amendment, if necessary, extending the termination date of this Agreement in order to finally resolve the claims 16.4 ing co ined in this Section shall be construed to in any way limit Consultant's inde ication . gat.ns contained in Section 29. In the case of any conflict between this -ctio • 29, Section 29 shall govern. This Section is not intended to obligate t .mr ion reimburse Consultant for time spent by its personnel related to Contrac hich Consultant is required to indemnify and defend the Commission pur ant t. .n 29 of this Agreement. 17. Final Acceptance. U. de - •n by the Commission that Consultant has satisfactorily completed the Se • d and r this Agreement and within the term set forth herein the Commission sha e C ant a written Notice of Final Acceptance. Upon receipt of such notice o an all incur no further costs hereunder, unless otherwise specified in the •t' o al A stance. Consultant may request issuance of a Notice of Final Acceptan when, its o•` ,'.n, it has satisfactorily completed all Services required under the terms of this Agreemer; he event copyrights are permitted under this Agreement, then in connection with , .era nding, it is hereby acknowledged and agreed that the United States Departm- •f Transportation shall have the royalty -free non-exclusive and irrevocable right to repr uce, publish, or otherwise use, and to authorize others to use, the work for governmental purposes. 18. Laws and Regulations. Consultant shall keep itself fully informed of and in compliance with all local, state and federal laws, rules and regulations in any manner affecting the performance of the Project or the Services, including all Cal/OSHA requirements, and shall give all notices required by law. For example, and not by way of limitation, Consultant shall keep itself fully informed of and in compliance with all implementing regulations, design standards, specifications, previous commitments that must be incorporated in the design of the Project, and administrative controls including those of the United States Department of Transportation. Compliance with Federal procedures may include completion of the applicable environmental documents and approved by the United States Department of Transportation. For example, and not by way of limitation, a signed Categorical Exclusion, Finding of No Significant Impact, or published Record of Decision may be required to be approved and/or completed by the United States 443 Department of Transportation. For Consultant shall be liable for all violations of such laws and regulations in connection with Services. If the Consultant performs any work knowing it to be contrary to such laws, rules and regulations and without giving written notice to the Commission, Consultant shall be solely responsible for all costs arising therefrom. Consultant shall defend, indemnify and hold Commission, its officials, directors, officers, employees and agents free and harmless, pursuant to the indemnification provisions of this Agreement, from any claim or liability arising out of any failure or alleged failure to comply with such laws, rules or regulations. 19. Fees and Payment. 19.1 The method of payment for this Agreement will be based on actual cost plus a fixed fee. Commission shall reimburse Consultant for actual costs (including labor costs, employee benefits, travel, equipment rental costs, overhead and other direct costs) incurred by Cons in performance of the Services. Consultant shall not be reimbursed for actual _" s exceed the estimated wage rates, employee benefits, travel, equipment rep overh - d, and other estimated costs set forth in the approved Consultant cost • +osal att. ed ereto as Exhibit "B" and incorporated herein by reference, or any co :' o• • in as part of a Task Order ("Cost Proposal") unless additional reimbursem by written amendment. The overhead rates included in the attached Ex all fixed for the term of the Master Agreement, and shall not be subject to a• stme , -ss required by the applicable funding source. In In no event, shall Consultant be mburse verhead costs at a rate that exceeds Commission's approved overhea• :te ► n the Cost Proposal. In the event that Commission determines that a cha • - .ervic from that specified in the Cost Proposal, this Agreement or any Task Orde re he Agreement time or actual costs reimbursable by Commission shal •e ste written amendment to accommodate the changed work. The maxi of ost a •ecified in Section 19.8 shall not be exceeded, unless authorized by a ritten a endm 19.2 In addition to the allowable incurred c• Co mission shall pay Consultant a fixed fee to be set forth in each Task Order " ed Fee"). The Fixed Fee is nonadjustable for each Task Order, except in the even of a significant change in the Scope of Services, and such adjustment is made by written amendment. 19.3 Reimbursement for transportation and subsistence costs shall not exceed the rates specified in the approved Cost Proposal. In addition, payments to Consultant for travel and subsistence expenses claimed for reimbursement or applied as local match credit shall not exceed rates authorized to be paid exempt non -represented State employees under current State Department of Personnel Administration (DPA) rules, unless otherwise authorized by Commission. If the rates invoiced are in excess of those authorized DPA rates, and Commission has not otherwise approved said rates, then Consultant is responsible for the cost difference and any overpayments shall be reimbursed to the Commission on demand. 19.4 When milestone cost estimates are included in the approved Cost Proposal for a Task Order, Consultant shall obtain prior written approval for a revised 444 milestone cost estimate from the Contract Administrator before exceeding such cost estimate. 19.5 Progress payments shall be made monthly in arrears based on Services provided and allowable incurred costs. A pro rata portion of the Fixed Fee shall be included in the monthly progress payments. If Consultant fails to submit the required deliverable items according to the schedule set forth in the Scope of Services, Commission shall have the right to delay payment or terminate this Agreement in accordance with the provisions of Section 21, Termination. 19.6 No payment shall be made prior to approval of any Services, nor for any Services performed prior to approval of this Agreement. 19.7 Consultant shall be reimbursed, as promptly as fiscal procedures will permit upon receipt by triplicate. Invoices shall of work for which C milestone and eac approved Cost Prop invoice must contain equipment purchased under final invoice should be subm `°' ed wi work. Invoices shall be mailed to address: mission's Contract Administrator of itemized invoices in itted no later than 45 calendar days after the performance illing. Invoices shall detail the work performed on each lic. • le. Invoices shall follow the format stipulated for the ce this Agreement number and project title. Final all credits due Commission including any Purchase provisions of this Agreement. The alendar days after completion of Consultant's mmissioj ontract Administrator at the following Riverside County Transportation Commissi Attention: Accounts Payable P.O. 12008 Riverside, CA 92502 19.8 The total amount payable by Commissi► Ind ng the Fixed Fee, shall not exceed the amount set forth in each Task Order 19.9 Commission has or will enter into four (4) task order contracts for performance of the Scope of Services identified in Exhibit "A", including this Agreement ("Environmental Services Task Order Contracts"). The other Environmental Services Task Order Contracts are HNTB Corporation, ICF Jones & Stokes, Inc., and Stantec Consulting Services, Inc. The total amount payable by Commission for the Environmental Services Task Order Contracts shall not exceed a cumulative maximum total value of Three Million Dollars ($3,000,000) ("NTE Sum"). It is understood and agreed that there is no guarantee, either expressed or implied that this dollar amount will be authorized under the Environmental Services Task Order Contracts through Task Orders. Each time a Task Order is awarded under any of the Environmental Services Task Order Contracts, Commission must send written notification to Consultant and each of the other consultants entering into the Environmental Services Task Order Contracts. The notice must identify the total funds allocated under issued Task Orders, and the remaining unencumbered amount of the NTE Sum. Consultant acknowledges and agrees that Commission must not 445 pay any amount under this Agreement that would exceed the NTE Sum, and Consultant must not enter into a Task Order that exceeds the NTE Sum. 19.10 Salary increases shall be reimbursable if the new salary is within the salary range identified in the approved Cost Proposal and is approved by Commission's Contract Administrator. For personnel subject to prevailing wage rates as described in the California Labor Code, all salary increases, which are the direct result of changes in the prevailing wage rates are reimbursable. 19.11 Consultant shall not be reimbursed for any expenses unless authorized in writing by the Commission's Contract Administrator. 19.12 All subcontracts in excess of $25,000 shall contain the above provisions. 20.1 under this Agreement decided by a committee cons Capital Projects, who may c 20.2 Not later than Agreement, Consultant may reque unresolved claims or disputes, other t writing. than audit, concerning a question of fact arising of by mutual agreement of the Parties shall be 's Contract Administrator and the Director of or verbal information submitted by Consultant. completion of all Services under this e Commission's Executive Director of he r- ' -st for review will be submitted in 20.3 Neither the pendency of disp. -, no committee will excuse Consultant from full and timely performan terms of this Agreement. 21. Termination. consideration by the accordance with the 21.1 Commission reserves the right to terminate this Agreement upon thirty (30) calendar days written notice to Consultant, for any or no reason, with the reasons for termination stated in the notice. Commission may terminate Services under a Task Order, at any time, for any or no reason, with the effective date of termination to be specified in the notice of termination of Task Order. 21.2 Commission may terminate this Agreement with Consultant should Consultant fail to perform the covenants herein contained at the time and in the manner herein provided. In the event of such termination, Commission may proceed with the Services in any manner deemed proper by Commission. If Commission terminates this Agreement with Consultant, Commission shall pay Consultant the sum due to Consultant under this Agreement for Services completed and accepted prior to termination, unless the cost of completion to Commission exceeds the funds remaining in the Agreement. In such 446 case, the overage shall be deducted from any sum due Consultant under this Agreement and the balance, if any, shall be paid to Consultant upon demand. 21.3 In addition to the above, payment upon termination shall include a prorated amount of profit, if applicable, but no amount shall be paid for anticipated profit on unperformed Services. Consultant shall provide documentation deemed adequate by Commission's Contract Administrator to show the Services actually completed by Consultant prior to the effective date of termination. This Agreement shall terminate on the effective date of the Notice of Termination 21.4 Upon receipt of the written Notice of Termination, Consultant shall discontinue all affected Services as directed in the Notice or as otherwise provided herein, and deliver to the Commission all Documents and Data, as defined in this Agreement, as may have been prepared or accumulated by Consultant in performance of the Services, whether completed or in progress. 21.5 In addition to the above, Consultant shall be liable to the Commission for any reasonable additional costs incurred by the Commission to revise work for which the Commission has compensated Consultant under this Agreement, but which the Commission has determined in its sole discretion needs to be revised, in part or whole, to complete the Project because it did not meet the standard of care established in this Agreement. Termination of this Agreement for cause may be considered by the Commission in determining whether to enter into future agreements with Consultant. 21.6 The rights and remedies of the Parties provided in this Section are in addition to any other rights and remedies provided by law or under this Agreement. 21.7 Consultant, in executing this Agreement, shall be deemed to have waived any and all claims for damages which may otherwise arise from the Commission's termination of this Agreement, for convenience or cause, as provided in this Section. 21.8 Consultant may not terminate this Agreement except for cause. 22. Cost Principles and Administrative Requirements. 22.1 Consultant agrees that the Contract Cost Principles and Procedures, 48 CFR, Federal Acquisition Regulations System, Chapter 1, Part 31.000 et seq., shall be used to determine the cost allowability of individual items. 22.2 Consultant also agrees to comply with federal procedures in accordance with 2 CFR, Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. 22.3 Any costs for which payment has been made to CONSULTANT that are determined by subsequent audit to be unallowable under 2 CFR, Part 200 and 48 CFR, Federal Acquisition Regulations System, Chapter 1, Part 31.000 et seq., are subject to repayment by Consultant to Commission. 447 22.4 All subcontracts in excess of $25,000 shall contain the above provisions. 23. Retention of Records/Audit. For the purpose of determining compliance with, as applicable, 2 CFR Part 200, Public Contract Code 10115, et seq. and Title 21, California Code of Regulations, Chapter 21, Section 2500 et seq., when applicable and other matters connected with the performance of this Agreement pursuant to Government Code 8546.7; Consultant, subconsultants, and Commission shall maintain and make available for inspection all books, documents, papers, accounting records, and other evidence pertaining to the performance of this Agreement, including but not limited to, the costs of administering this Agreement. All parties shall make such materials available at their respective offices at all reasonable times during the Agreement period and for three years from the date of final payment under this Agreement. The State, State Auditor, Commission, FHWA, or any duly authorized representative of the State or Federal Government shall have access to any books, records, and documents of Consultant and it's certified public accountants (CPA) work papers that are pertinent to this Agreement and indirect cost rates (ICR) for audit, examinations, excerpts, and transactions, and copies thereof shall be furnished if requested. Subcontracts in excess of $25,000 shall contain this provision. 23.1 Accounting System. Consultant and its subcontractors shall establish and maintain an accounting system and records that properly accumulate and segregate expenditures by line item for the Services. The accounting system of Consultant and its subcontractors shall conform to Generally Accepted Accounting Principles (GAAP), enable the determination of incurred costs at interim points of completion, and provide support for reimbursement payment vouchers or invoice 24. Audit Review Procedures. 24.1 Any dispute concerning a question of fact arising under an interim or post audit of this Agreement that is not disposed of by agreement, shall be reviewed by Commission's Chief Financial Officer. 24.2 Not later than 30 days after issuance of the final audit report, Consultant may request a review by Commission's Chief Financial Officer of unresolved audit issues. The request for review shall be submitted in writing. 24.3 Neither the pendency of a dispute nor its consideration by Commission shall excuse Consultant from full and timely performance, in accordance with the terms of this Agreement. 25. Subcontracting. 25.1 Nothing contained in this Agreement or otherwise, shall create any contractual relation between Commission and any subconsultant(s), and no subcontract shall relieve Consultant of its responsibilities and obligations hereunder. Consultant agrees to be as fully responsible to Commission for the acts and omissions of its subconsultant(s) 448 and of persons either directly or indirectly employed by any of them as it is for the acts and omissions of persons directly employed by Consultant. Consultant's obligation to pay its subconsultant(s) is an independent obligation from Commission's obligation to make payments to the Consultant. 25.2 Consultant shall perform the Services contemplated with resources available within its own organization and no portion of the Services pertinent to this Agreement shall be subcontracted without written authorization by Commission's Contract Administrator, except that, which is expressly identified in the approved Cost Proposal. 25.3 Consultant shall pay its subconsultants within ten (10) calendar days from receipt of each payment made to Consultant by Commission. 25.4 Any subcontract in excess of $25,000 entered into as a result of this Agreement shall contain - provisions stipulated in this Agreement to be applicable to subconsultants. 25.5. ny subst' ion of subconsultant(s) must be approved in writing by Commission's Cont Ad .tr. for to the start of work by the subconsultant(s). 25.6 Exhibit " bill the Consultant for Servi to Consultant. Additional Direct Co the Consultant and all subconsult Task Order. The subconsultant rate accounting purposes only. 26. Equipment Purchase h the rates at which each subconsultant shall subject to reimbursement by the Commission , as defin- • 'n Exhibit "B" shall be the same for both erwise identified in Exhibit "B" or in a cost proposals contained herein are for 26.1 Prior authorization, in writing, by Commissio shall be required before Consultant enters into any unbu subcontract for supplies, equipment, or services. Consulta the necessity or desirability of incurring such costs. ontract Administrator rchase order, or all provide an evaluation of 26.2 For purchase of any item, service or consulting work not covered in the Cost Proposal and exceeding $5,000 prior authorization, in writing, by Commission's Contract Administrator is required. Three competitive quotations must be submitted with the request for such purchase, or the absence of bidding must be adequately justified. 26.3 Any equipment purchased as a result of this Agreement is subject to the following: Consultant shall maintain an inventory of all nonexpendable property. Nonexpendable property is defined as having a useful life of at least two years and an acquisition cost of $5,000 or more. If the purchased equipment needs replacement and is sold or traded in, Commission shall receive a proper refund or credit at the conclusion of this Agreement, or if this Agreement is terminated, Consultant may either keep the equipment and credit Commission in an amount equal to its fair market value, or sell such equipment at the best price obtainable at a public or private sale, in accordance with established Commission procedures; and credit Commission in an amount equal to the 449 more than $25,000 for demolition, repair, or maintena Section. (c) When p Scope of Services, transportation minimum rates set by the Department of applicable Prevailing Wage Determination. S sales price. If Consultant elects to keep the equipment, fair market value shall be determined at Consultant's expense, on the basis of a competent independent appraisal of such equipment. Appraisals shall be obtained from an appraiser mutually agreeable to by Commission and Consultant. If Consultant determines to sell the equipment, the terms and conditions of such sale must be approved in advance by Commission. 2 CFR, Part 200 requires a credit to Federal funds when participating equipment with a fair market value greater than $5,000 is credited to the Project. 26.4 All subcontracts in excess $25,000 shall contain the above provisions. 27. Labor Code Requirements. 27.1 Prevailing Wages. (a) *nsultant shall comply with the State of California's General Prevailing Wage Rate r sir- -nts in accordance with California Labor Code, Section 1770, and all Federal te, an ,ocal laws and ordinances applicable to the Services. act entered into as a result of this Agreement, if for ction or more than $15,000 for the alteration, orks, shall contain all of the provisions of this apply to the Services described in the ce costs shall be reimbursed at the trial 7 c-tions (DIR) as outlined in the r.ca.gov. (d) Copies of the preen `' g r of p- 'iem wages in effect at commencement of this Agreement are on file at the Commission es. Consultant shall make copies of the prevailing rates of per diem wages for eac ft, w ,, ssification or type of worker needed to execute the Services available to intere • parties upon request, and shall post copies at the Consultant's principal place of b ess and at the project site. Consultant shall defend, indemnify and hold the Commission, its elected officials, officers, employees and agents free and harmless from any claims, liabilities, costs, penalties or interest arising out of any failure or alleged failure to comply with the Prevailing Wage Laws. 27.2 DIR Registration. Since the Services are being performed as part of an applicable "public works" or "maintenance" project, then pursuant to Labor Code Sections 1725.5 and 1771.1, the Consultant and all subconsultants must be registered with the Department of Industrial Relations. Consultant shall maintain registration for the duration of the Project and require the same of any subconsultants. This Project may also be subject to compliance monitoring and enforcement by the Department of Industrial Relations. It shall be Consultant's sole responsibility to comply with all applicable registration and labor compliance requirements. 450 27.3 Eight -Hour Law. Pursuant to the provisions of the California Labor Code, eight hours of labor shall constitute a legal day's work, and the time of service of any worker employed on the work shall be limited and restricted to eight hours during any one calendar day, and forty hours in any one calendar week, except when payment for overtime is made at not less than one and one-half the basic rate for all hours worked in excess of eight hours per day ("Eight -Hour Law"), unless Consultant or the Services are not subject to the Eight -Hour Law. Consultant shall forfeit to Commission as a penalty, $50.00 for each worker employed in the execution of this Agreement by him, or by any sub -consultant under him, for each calendar day during which such workman is required or permitted to work more than eight hours in any calendar day and forty hours in any one calendar week without such compensation for overtime violation of the provisions of the California Labor Code, unless Consultant or the Services are not subject to the Eight -Hour Law. 27.4 Employment of Apprentices. This Agreement shall not prevent the employment of properly indentured apprentices in accordance with the California Labor Code, and no employer or labor union shall refuse to accept otherwise qualified employees as indentured apprentices on the work performed hereunder solely on the ground of race, creed, national origin, ancestry, color or sex. Every qualified apprentice shall be paid the standard wage paid to apprentices under the regulations of the craft or trade in which he or she is employed and shall be employed only in the craft or trade to which he or she is registered. If California Labor Code Section 1777.5 applies to the Services, Consultant and any subcontractor hereunder who employs workers in any apprenticeable craft or trade shall apply to the joint apprenticeship council administering applicable standards for a certificate approving Consultant or any sub -consultant for the employment and training of apprentices. Upon issuance of this certificate, Consultant and any sub -consultant shall employ the number of apprentices provided for therein, as well as contribute to the fund to administer the apprenticeship program in each craft or trade in the area of the work hereunder. The parties expressly understand that the responsibility for compliance with provisions of this Section and with Sections 1777.5, 1777.6 and 1777.7 of the California Labor Code in regard to all apprenticeable occupations lies with Consultant 28. Ownership of Materials/Confidentiality. 28.1 Documents & Data. This Agreement creates an exclusive and perpetual license for Commission to copy, use, modify, reuse, or sub -license any and all copyrights and designs embodied in plans, specifications, studies, drawings, estimates, materials, data and other documents or works of authorship fixed in any tangible medium of expression, including but not limited to, physical drawings or data magnetically or otherwise recorded on computer diskettes, which are prepared or caused to be prepared by Consultant under this Agreement ("Documents & Data"). 451 Consultant shall require all subcontractors to agree in writing that Commission is granted an exclusive and perpetual license for any Documents & Data the subcontractor prepares under this Agreement. Consultant represents and warrants that Consultant has the legal right to grant the exclusive and perpetual license for all such Documents & Data. Consultant makes no such representation and warranty in regard to Documents & Data which were prepared by design professionals other than Consultant or provided to Consultant by the Commission. Commission shall not be limited in any way in its use of the Documents & Data at any time, provided that any such use not within the purposes intended by this Agreement shall be at Commission's sole risk. 28.2 I me right, title and interes rights) in all plans, s programs or softw of authorship fixed i physical drawings or other ("Intellectual Property") pre Agreement as well as any other suc behalf of Consultant under this Ag Property. In addition, Commission shall have and retain all copyright, patent, trade secret and other proprietary studies, drawings, estimates, materials, data, computer enhancements, documents, and any and all works m or expression, including but not limited to, ly or otherwise recorded on computer media ped by or on behalf of Consultant under this ectual Property prepared or developed by or on ment. The Commissioriai and r- -in all right, title and interest in Intellectual Property developed or modified u r th'• • -ment whether or not paid for wholly or in part by Commission, whether or de •ed i •njunction with Consultant, and whether or not developed by Consultan . .ns t wil ' ecute separate written assignments of any and all rights to the abo e refere ced In ctual Property upon request of Commission. Consultant shall also be responsibl4 °!+ obtain in writing separate written assignments from any subcontractors or agents of onsultant of any and all right to the above referenced Intellectual Property. Should Consultant, either during or following termination of this Agreement, desire to use any of the above -referenced Intellectual Property, it shall first obtain the written approval of the Commission. All materials and documents which were developed or prepared by the Consultant for general use prior to the execution of this Agreement and which are not the copyright of any other party or publicly available and any other computer applications, shall continue to be the property of the Consultant. However, unless otherwise identified and stated prior to execution of this Agreement, Consultant represents and warrants that it has the right to grant the exclusive and perpetual license for all such Intellectual Property as provided herein. Commission further is granted by Consultant a non-exclusive and perpetual license to copy, use, modify or sub -license any and all Intellectual Property 452 otherwise owned by Consultant which is the basis or foundation for any derivative, collective, insurrectional, or supplemental work created under this Agreement. 28.3 Confidentiality. All ideas, memoranda, specifications, plans, procedures, drawings, descriptions, computer program data, input record data, written information, and other Documents and Data either created by or provided to Consultant in connection with the performance of this Agreement shall be held confidential by Consultant. Such materials shall not, without the prior written consent of Commission, be used by Consultant for any purposes other than the performance of the Services. Nor shall such materials be disclosed to any person or entity not connected with the performance of the Services or the Project. Nothing furnished to Consultant which is otherwise known to Consultant or is generally known, or has become known, to the related industry shall be deemed confidential. Consultant shall not use Commission's name or insignia, photographs of t Project, or any publicity pertaining to the Services or the Project in any magazine A_ paper, newspaper, television or radio production or other similar medium witho a or written consent of Commission. 28.4 hold the Commissio free and harmless, purs alleged infringement of any other proprietary right of any Commission of the Documents & D specified or depicted. nification. Consultant shall defend, indemnify and Is, officers, employees, volunteers and agents fication provisions of this Agreement, for any t, trade secret, trade name, trademark, or any ity in consequence of the use on the Project by , inclu method, process, product, or concept 29. Indemnification. To the fulles mu,ted by law, Consultant shall defend (with counsel of Commission's choosi in•, ;_r.nify hold Commission, Caltrans and their directors, officials, officers, employ ns nts, nteers, and agents free and harmless from any and all claims, demands, ` auses •"`action, ts, expenses, liability, loss, damage or injury, in law or equity, to property or persons,' 1 •'ii •. wrongful death, in any manner arising out of or incident to alleged neglige ;'cts, o^ issions, or willful misconduct of Consultant, its officials, officers, employ-: agents, consultants, and contractors arising out of or in connection with the perform ce of the Services, the Project or this Agreement, including without limitation the payment of consequential damages, expert witness fees, and attorneys fees and other related costs and expenses. Consultant shall defend, at Consultant's own cost, expense and risk, any and all such aforesaid suits, actions or other legal proceedings of every kind that may be brought or instituted against Commission, Caltrans and their directors, officials, officers, employees, consultants, agents, or volunteers. Consultant shall pay and satisfy any judgment, award or decree that may be rendered against Commission, Caltrans or their directors, officials, officers, employees, consultants, agents, or volunteers, in any such suit, action or other legal proceeding. Consultant shall reimburse Commission, Caltrans and their directors, officials, officers, employees, consultants, agents, and/or volunteers, for any and all legal expenses and costs, including reasonable attorney's fees, incurred by each of them in connection therewith or in enforcing the indemnity herein provided. Consultant's obligation to indemnify shall not be restricted to insurance proceeds, if any, received by Commission, Caltrans, their directors, officials officers, employees, consultants, agents, or volunteers. 453 If Consultant's obligation to defend, indemnify, and/or hold harmless arises out of Consultant's performance as a "design professional" (as that term is defined under Civil Code section 2782.8), then, and only to the extent required by Civil Code section 2782.8, which is fully incorporated herein, Consultant's indemnification obligation shall be limited to claims that arise out of, pertain to, or relate to the negligence, recklessness, or willful misconduct of the Consultant, and, upon Consultant obtaining a final adjudication by a court of competent jurisdiction, Consultant's liability for such claim, including the cost to defend, shall not exceed the Consultant's proportionate percentage of fault. Consultant's obligations as set forth in this Section shall survive expiration or termination of this Agreement. 30. To the fullest extent permitted by law, Consultant shall defend, indemnify and hold Commission, Caltrans and their directors, officials, officers, employees, consultants, volunteers, and agents fr d harmless from any and all claims, demands, causes of action, costs, expense bi loss, damage or injury, in law or equity, to property or persons, including gful de h, inverse condemnation, and any claims related to property acquisitio d reloca ' ru -.s or failure to detect or abate hazardous materials, which are brought by .ird ich , in any manner arise out of or are incident to alleged negligent acts, o on r will ► ` isconduct of Consultant, its officials, officers, employees, agents, consulta , a on ,w ctors arising out of or in connection with the performance of the Services, . e Pro ., °` his Agreement, including without limitation the payment of consequential damage expert s fees, and attorneys fees and other related costs and expenses. Cons n - • _ nd, at Consultant's own cost, expense and risk, any and all such aforesaid s► a : + or oth legal proceedings of every kind that may be brought or instituted against mis altrans, and their directors, officials, officers, employees, consultants, ag•-„ s, lunt . Consultant shall pay and satisfy any judgment, award or decree that m en d ag.:;.Nst Commission, Caltrans or their directors, officials, officers, employees, onsulta s, age or volunteers, in any such suit, action or other legal proceeding. Consultant shal *urse Commission, Caltrans and their directors, officials, officers, employees, .:n sulta ts, agents, and/or volunteers, for any and all legal expenses and costs, inclu •' .:• reasonable attorney's fees, incurred by each of them in connection therewith or in nforcing the indemnity herein provided. Consultant's obligation to indemnify shall not be restricted to insurance proceeds, if any, received by Commission, Caltrans or their directors, officials officers, employees, consultants, agents, or volunteers. Notwithstanding the foregoing, to the extent Consultant's Services are subject to Civil Code Section 2782.8, the above indemnity shall be limited, to the extent required by Civil Code Section 2782.8, to claims that arise out of, pertain to, or relate to the negligence, recklessness, or willful misconduct of the Consultant. Consultant's obligations as set forth in this Section 29 shall survive expiration or termination of this Agreement. 454 31. Insurance. 31.1 Time for Compliance. Consultant shall not commence work under this Agreement until it has provided evidence satisfactory to the Commission that it has secured all insurance required under this Section, in a form and with insurance companies acceptable to the Commission. In addition, Consultant shall not allow any subcontractor to commence work on any subcontract until it has secured all insurance required under this Section. 31.2 Minimum Requirements. Consultant shall, at its expense, procure and maintain for the duration of the Agreement insurance against claims for injuries to persons or damages to property which may arise from or in connection with the performance of the Agreement by the Consultant, its agents, representatives, employees or subcontractors. Consultant shall also require all of its subcontractors to procure and maintain the same insurance for the duratio the Agreement. Such insurance shall meet at least the following minimum lev- •f -rage: broad as the latest ve Commercial General Lia Automobile Liability: Insuranc code 1 (any auto) or exact e ivale Liability: Workers' Compensation i Employer's Liability Insurance. cope of Insurance. Coverage shall be at least as : (1) General Liability: Insurance Services Office urrence form CG 0001 or exact equivalent); (2) ice Business Auto Coverage (form CA 0001, (3) Workers' Compensation and Employer's rance - • uired by the State of California and (b) Minimum Limits o .ura ' onsultant shall maintain limits no less than: (1) General Liability: $2,000,00 •er urr- - for bodily injury, personal injury and property damage. If Commercial ility rance or other form with general aggregate limit is used, either the gene aggre•.,te lim ,.a all apply separately to this Agreement/location or the general aggregate limit sha twice the required occurrence limit. Limits may be achieved by any combinatio •' pn .ry and excess or umbrella liability insurance; (2) Automobile Liability: $1,0 00 per accident for bodily injury and property damage. Limits may be achieved by y combination of primary and excess or umbrella liability insurance; and (3) Workers' Compensation and Employer's Liability: Workers' Compensation limits as required by the Labor Code of the State of California. Employer's Practices Liability limits of $1,000,000 per accident. 31.3 Professional Liability. Consultant shall procure and maintain, and require its sub -consultants to procure and maintain, for a period of five (5) years following completion of the Project, errors and omissions liability insurance appropriate to their profession. For Consultant, such insurance shall be in an amount not less than $1,000,000 per claim. This insurance shall be endorsed to include contractual liability applicable to this Agreement and shall be written on a policy form coverage specifically designed to protect against acts, errors or omissions of the Consultant. "Covered Professional Services" as designated in the policy must specifically include work performed under this Agreement. The policy must "pay on behalf of" the insured and must include a provision establishing the insurer's duty to defend. Subconsultants of Consultant 455 shall obtain such insurance in an amount not less than $2,000,000 per claim. Notwithstanding the foregoing, the Commission may consider written requests to lower or dispense with the errors and omissions liability insurance requirement contained in this Section for certain subconsultants of Consultant, on a case -by -case basis, depending on the nature and scope of the Services to be provided by the subconsultant. Approval of such request shall be in writing, signed by the Commission's Contract Administrator. 31.4 Aircraft Liability Insurance. Prior to conducting any Services requiring use of aircraft, Consultant shall procure and maintain, or cause to be procured and maintained, aircraft liability insurance or equivalent form, with a single limit as shall be required by the Commission. Such insurance shall include coverage for owned, hired and non -owned aircraft and passengers, and shall name, or be endorsed to name, the Commission, Caltrans and their directors, officials, officers, employees and agents as additional insureds with res • ect to the Services or operations performed by or on behalf of the Consultant. 31.5 following provisio Commission to add (a) dorsements. The insurance policies shall contain the t s • II provide endorsements on forms approved by the ns to the insurance policies: (i) C coverage for (1) bodily Injury and p (3) premises/operations liability; (4) limits that apply per Project; (6) explosion, deleted; (7) contractual liability with respect damage; and (9) independent consultants c eral Liability Insurance must include ; (2) personal Injury/advertising Injury; leted operations liability; (5) aggregate pse nderground (UCX) exclusion nt; (8) broad form property (ii) The policy shall contain no en ments or provisions limiting coverage for (1) contractual liability; (2) cross liability e 10 r claims or suits by one insured against another; or (3) contain any other exclusa. ;contrary to this Agreement. (iii) The policy shall give the Commission, its directors, officials, officers, employees, and agents insured status using ISO endorsement forms 20 10 10 01 and 20 37 10 01, or endorsements providing the exact same coverage. (iv) The additional insured coverage under the policy shall be "primary and non-contributory" and will not seek contribution from the Commission's or Caltrans' insurance or self-insurance and shall be at least as broad as CG 20 01 04 13, or endorsements providing the exact same coverage. (b) Automobile Liability. The automobile liability policy shall be endorsed to state that: (1) the Commission, Caltrans and their directors, officials, officers, employees and agents shall be covered as additional insureds with respect to the ownership, operation, maintenance, use, loading or unloading of any auto owned, leased, hired or borrowed by the Consultant or for which the Consultant is responsible; and (2) the insurance coverage shall be primary insurance as respects the Commission, Caltrans and 456 their directors, officials, officers, employees and agents, or if excess, shall stand in an unbroken chain of coverage excess of the Consultant's scheduled underlying coverage. Any insurance or self-insurance maintained by the Commission, Caltrans and their directors, officials, officers, employees and agents shall be excess of the Consultant's insurance and shall not be called upon to contribute with it in any way. (c) Workers' Compensation and Employers Liability Coverage. (i) Consultant certifies that he/she is aware of the provisions of Section 3700 of the California Labor Code which requires every employer to be insured against liability for workers' compensation or to undertake self-insurance in accordance with the provisions of that code, and he/she will comply with such provisions before commencing work under this Agreement. against the Commissio paid under the term Consultant. The insurer shall agree to waive all rights of subrogation tors, officials, officers, employees and agents for losses ance policy which arise from work performed by the osts shall be payable in addition to the limits set forth hereunder. (ii) this Section are not intended as a limitation waiver of any coverage normally provided b under this Agreement that any available ins the specified minimum insurance coverage req men be available to the Commission, Caltrans and their directors, offi and agents as additional insureds under said policies. Furthe coverage and limits shall be (1) the minimum coverag Agreement; or (2) the broader coverage and maximum li policy or proceeds available to the named insured; whichever is greater. f specific coverage or limits contained in its, or other requirement, or a ra ` v-. It shall be a requirement eeds '° •ader than or in excess of nd/o 'ii • its set forth herein shall officers, employees re, - requirements for d limits specified in this of coverage of any insurance (iii) The limits of insurance required in this Agreement may be satisfied by a combination of primary and umbrella or excess insurance. Any umbrella or excess insurance shall contain or be endorsed to contain a provision that such coverage shall also apply on a primary and non-contributory basis for the benefit of the Commission (if agreed to in a written contract or agreement) before the Commission's own insurance or self-insurance shall be called upon to protect it as a named insured. The umbrella/excess policy shall be provided on a "following form" basis with coverage at least as broad as provided on the underlying policy(ies). (iv) Consultant shall provide the Commission at least thirty (30) days prior written notice of cancellation of any policy required by this Agreement, except that the Consultant shall provide at least ten (10) days prior written notice of cancellation of any such policy due to non-payment of premium. If any of the required 457 coverage is cancelled or expires during the term of this Agreement, the Consultant shall deliver renewal certificate(s) including the General Liability Additional Insured Endorsement to the Commission at least ten (10) days prior to the effective date of cancellation or expiration. (v) The retroactive date (if any) of each policy is to be no later than the effective date of this Agreement. Consultant shall maintain such coverage continuously for a period of at least three years after the completion of the work under this Agreement. Consultant shall purchase a one (1) year extended reporting period A) if the retroactive date is advanced past the effective date of this Agreement; B) if the policy is cancelled or not renewed; or C) if the policy is replaced by another claims -made policy with a retroactive date subsequent to the effective date of this Agreement. insurance coverage to be the Commission, is not i and obligations othe but not limited to, t (vi) The foregoing requirements as to the types and limits of ained by Consultant, and any approval of said insurance by and shall not in any manner limit or qualify the liabilities by the Consultant pursuant to this Agreement, including rning indemnification. of insurance required under th canceled and not replaced, omm insurance it deems necessary and reimbursed by Consultant or Com from Consultant payments. In the a The Commission may require the Consultan policies in effect for the duration of the Proje me during the life of the Agreement, any policy oes not comply with these specifications or is as the right but not the duty to obtain the prem. •aid by Commission will be promptly old amounts sufficient to pay premium mmis on may cancel this Agreement. plete copies of all insurance (viii) Neither the C,miss nor a = : ,•f its directors, officials, officers, employees or agents shall be personally responsible for ability arising under or by virtue of this Agreement. 31.6 Deductibles and Self -Insurance Ret- ions. Any deductibles or self - insured retentions must be declared to and approved by the Commission. If the Commission does not approve the deductibles or self -insured retentions as presented, Consultant shall guarantee that, at the option of the Commission, either: (1) the insurer shall reduce or eliminate such deductibles or self -insured retentions as respects the Commission, its directors, officials, officers, employees and agents; or, (2) the Consultant shall procure a bond guaranteeing payment of losses and related investigation costs, claims and administrative and defense expense. 31.7 Acceptability of Insurers. Insurance is to be placed with insurers with a current A.M. Best's rating no less than A:VIII, licensed to do business in California, and satisfactory to the Commission. 31.8 Verification of Coverage. Consultant shall furnish Commission with original certificates of insurance and endorsements effecting coverage required by this 458 Agreement on forms satisfactory to the Commission. The certificates and endorsements for each insurance policy shall be signed by a person authorized by that insurer to bind coverage on its behalf. All certificates and endorsements must be received and approved by the Commission before work commences. The Commission reserves the right to require complete, certified copies of all required insurance policies, at any time. 31.9 Subconsultant Insurance Requirements. Consultant shall not allow any subcontractors or subconsultants to commence work on any subcontract until they have provided evidence satisfactory to the Commission that they have secured all insurance required under this Section. Policies of commercial general liability insurance provided by such subcontractors or subconsultants shall be endorsed to name the Commission as an additional insured using ISO form CG 20 38 04 13 or an endorsement providing the exact same coverage. If requested by Consultant, the Commission may approve different scopes or minimum limits of insurance for particular subcontractors or subconsultants. 31.10 additional coverag reasonable and pru Project. In retaining th program to be adequate. Co to the insurance required in is Se nce. At its option, the Commission may require such e reduction of deductibles or retentions it considers factors that may directly or indirectly impact the on does not warrant Consultant's insurance ave the right to purchase insurance in addition 32. Safety. Consultant s ex- • maintain its work so as to avoid injury or damage to any person or property. I t its S ices, the Consultant shall at all times be in compliance with all applicable al, and federal laws, rules and regulations, and shall exercise all necessa pre tion r the safety of employees appropriate to the nature of the work and t i un which the work is to be performed. Safety precautions as applicable s I inclu , buts`;: ;, not be limited to: (A) adequate life protection and life saving equipment and proce• (B) instructions in accident prevention for all employees and subcontractor •uch s safe walkways, scaffolds, fall protection ladders, bridges, gang planks +nfined space procedures, trenching and shoring, equipment and other safety de ces, equipment and wearing apparel as are necessary or lawfully required to prevent accidents or injuries; and (C) adequate facilities for the proper inspection and maintenance of all safety measures. Pursuant to the authority contained in Section 591 of the Vehicle Code, the Commission has determined that the Project will contain areas that are open to public traffic. Consultant shall comply with all of the requirements set forth in Divisions 11, 12, 13, 14, and 15 of the Vehicle Code. Consultant shall take all reasonably necessary precautions for safe operation of its vehicles and the protection of the traveling public from injury and damage from such vehicles. 33. Additional Work. Any work or activities that are in addition to, or otherwise outside of, the Services to be performed pursuant to this Agreement shall only be performed pursuant to a separate agreement between the parties. Notwithstanding the foregoing, the Commission's Executive Director may make a change to the Agreement, 459 other than a Cardinal Change. For purposes of this Agreement, a Cardinal Change is a change which is "outside the scope" of the Agreement; in other words, work which should not be regarded as having been fairly and reasonably within the contemplation of the parties when the Agreement was entered into. An example of a change which is not a Cardinal Change would be where, in a contract to construct a building there are many changes in the materials used, but the size and layout of the building remains the same. Cardinal Changes are not within the authority of this provision to order, and shall be processed by the Commission as "sole source" procurements according to applicable law, including the requirements of FTA Circular 4220.1 D, paragraph 9(f). (a) In addition to the changes authorized above, a modification which is signed by Consultant and the Commission's Executive Director, other than a Cardinal Change, may be made in order to: (1) make a negotiated equitable adjustment to the Agreeme t price, delivery schedule and other terms resulting from the issuance of a Change Or r 2) reflect definitive letter contracts, and (3) reflect other agreements of the pa ' • 'ying the terms of this Agreement ("Bilateral Contract Modification"). change, without written a herein. In the event such Commission's Executive Dire tor, C 34. Prohibited Interests. ant shall not perform, nor be compensated for any e Commission's Executive Director as set forth orization is not issued and signed by the ant shall not provide such change. 34.1 Solicitation. Consultan employed nor retained any company or pers solely for Consultant, to solicit or secure this it has not paid nor has it agreed to pay any co pany . perso employee working solely for Consultant, any fee, commission, gift or other consideration contingent upon or resulting fro Agreement. For breach or violation of this warranty, the to rescind this Agreement without liability. 34.2 Consultant Conflict of Interest warrants that it has not na fide employee working Consultant warrants that ther than a bona fide ge, brokerage fee, awa`d or making of this mission shall have the right (a) Consultant shall disclose any financial, business, or other relationship with Commission that may have an impact upon the outcome of this Agreement, or any ensuing Commission construction project. Consultant shall also list current clients who may have a financial interest in the outcome of this Agreement, or any ensuing Commission construction project, which will follow. (b) Consultant hereby certifies that it does not now have, nor shall it acquire any financial or business interest that would conflict with the performance of services under this Agreement. 460 (c) Any subcontract in excess of $25,000 entered into as a result of this Agreement, shall contain all of the provisions of this Article. (d) Consultant hereby certifies that neither Consultant, nor any firm affiliated with Consultant will bid on any construction contract, or on any contract to provide construction inspection for any construction project resulting from this contract. An affiliated firm is one, which is subject to the control of the same persons through joint -ownership, or otherwise. (e) Except for subconsultants whose services are limited to providing surveying or materials testing information, no subconsultant who has provided design services in connection with this contract shall be eligible to bid on any construction contract, or on any contract to provide construction inspection for any construction project resulting from this contract. 34.3 C• is Conflict of Interest. For the term of this Agreement, no member, officer or e oyee of e Commission, during the term of his or her service with the Commission, s ,__! have a :ire► .'nterest in this Agreement, or obtain any present or anticipated material • in ( . rom. 34.4 Conflict m:'• _' . Employment by the Consultant of personnel currently on the payroll of the om shall not be permitted in the performance of this Agreement, even though such em•' ment cur outside of the employee's regular working hours or on weekends, hol y n time. Further, the employment by the Consultant of personnel who have b- o - •mmis 'on payroll within one year prior to the date of execution of this Agreement, w ; e thi oyment is caused by and or dependent upon the Consultant securing thi re Ag ents with the Commission, is prohibited. 34.5 Covenant Against Contingent Fees. As r- • in connection with federal funding, the Consultant warrants that he/she has n• plo `-d or retained any company or person, other than a bona fide employee wor ; for the Consultant, to solicit or secure this Agreement, and that he/she has not paid o greed to pay any company or person, other than a bona fide employee, any fee, commission, percentage, brokerage fee, gift, or any other consideration, contingent upon or resulting from the award or formation of this Agreement. For breach or violation of this warranty, the Commission shall have the right to terminate this Agreement without liability pursuant to the terms herein, or at its discretion to deduct from the Agreement price or consideration, or otherwise recover, the full amount of such fee, commission, percentage, brokerage fee, gift, or contingent fee. 34.6 Rebates, Kickbacks or Other Unlawful Consideration. Consultant warrants that this Agreement was not obtained or secured through rebates kickbacks or other unlawful consideration, either promised or paid to any Commission employee. For breach or violation of this warranty, Commission shall have the right in its discretion; to terminate this Agreement without liability; to pay only for the value of the work actually 461 performed; or to deduct from the Agreement price; or otherwise recover the full amount of such rebate, kickback or other unlawful consideration. 34.7 Covenant Against Expenditure of Commission, State or Federal Funds for Lobbying. The Consultant certifies that to the best of his/ her knowledge and belief no state, federal or local agency appropriated funds have been paid, or will be paid by or on behalf of the Consultant to any person for the purpose of influencing or attempting to influence an officer or employee of any state or federal agency; a Member of the State Legislature or United States Congress; an officer or employee of the Legislature or Congress; or any employee of a Member of the Legislature or Congress, in connection with the award of any state or federal contract, grant, loan, or cooperative agreement, or the extension, continuation, renewal, amendment, or modification of any state or federal contract, grant, loan, or cooperative agreement. (a) paid, or will be paid to a an officer or emplo employee of Congr Agreement, the Cons Form-LLL, "Disclosure instructions. y funds other than federal appropriated funds have been for the purpose of influencing or attempting to influence deral agency; a Member of Congress; an officer or loy of a Member of Congress; in connection with this and submit the attached Exhibit "G", Standard obbying," in accordance with the attached (b) The Co Itant's material representation of fact upo entered into, and is a prerequisite f 1352, Title 31, US. Code. Failure to comply disclosure and certification requirements set f result in a civil penalty of not less than $10,0 failure. cation provided in this Section is a was placed when this Agreement was to thi Agreement pursuant to Section the tions on expenditures, or the 52, Title 31, US. Code may $100,000 for each such (c) The Consultant also agrees by ng s Agreement that he/she shall require that the language set forth in this Se •n 3.23.5 be included in all Consultant subcontracts which exceed $100,000, and th' all such subcontractors shall certify and disclose accordingly. 34.8 Employment Adverse to the Commission. Consultant shall notify the Commission, and shall obtain the Commission's written consent, prior to accepting work to assist with or participate in a third -party lawsuit or other legal or administrative proceeding against the Commission during the term of this Agreement. 35. Equal Opportunity Employment. Consultant represents that it is an equal opportunity employer and it shall not discriminate against any subcontractor, employee or applicant for employment because of race, religion, color, national origin, ancestry, sex or age. Such non-discrimination shall include, but not be limited to, all activities related to initial employment, upgrading, demotion, transfer, recruitment or recruitment advertising, layoff or termination. 462 36. Right to Employ Other Consultants. Commission reserves the right to employ other consultants in connection with the Project. 37. Governing Law. This Agreement shall be governed by and construed with the laws of the State of California. Venue shall be in Riverside County. 38. Disputes; Attorneys' Fees. 38.1 Prior to commencing any action hereunder, the Parties shall attempt in good faith to resolve any dispute arising between them. The pendency of a dispute shall not excuse Consultant from full and timely performance of the Services. 38.2. If the Parties are unable to resolve a dispute after attempting in good faith to do so, the Parties either Party commence otherwise, arising out 11 litigation shall be e ,[111 fees and, all other c seek any other available remedy to resolve the dispute. If n against the other Party, either legal, administrative or ection with this Agreement, the prevailing Party in such nd ecover from the losing Party reasonable attorneys' 39. Time of Essence �T,�� ��� � is of �4� ,- essence for each and every provision of this Agreement. 40. Headings. Article an' ecti•_n i �� l `Wings, paragraph captions or marginal headings contained in this Agreeme co► enience only and shall have no effect in the construction or interpretation of any pro ` here 41. Notices. All notices permitted given to the respective parties at the following ., r` 'dres respective parties may provide in writing for this purpose: CONSULTANT: GPA Consulting 840 Apollo Street, Suite 312 El Segundo, CA 90245 Attn: Richard Galvin this Agreement shall be h other address as the ISSION: Riverside County Transportation Commission 4080 Lemon Street, 3rd Floor Riverside, CA 92501 Attn: Executive Director Such notice shall be deemed made when personally delivered or when mailed, forty-eight (48) hours after deposit in the U.S. mail, first class postage prepaid, and addressed to the Party at its applicable address. Actual notice shall be deemed adequate notice on the date actual notice occurred, regardless of the method of service. 42. Conflicting Provisions. In the event that provisions of any attached exhibits conflict in any way with the provisions set forth in this Agreement, the language, terms and conditions contained in this Agreement shall control the actions and obligations of the 463 Parties and the interpretation of the Parties' understanding concerning the performance of the Services. 43. Amendment or Modification. No supplement, modification, or amendment of this Agreement shall be binding unless executed in writing and signed by both Parties. 44. Entire Agreement. This Agreement contains the entire agreement of the Parties relating to the subject matter hereof and supersedes all prior negotiations, agreements or understandings. 45. Invalidity; Severability. If any portion of this Agreement is declared invalid, illegal, or otherwise unenforceable by a court of competent jurisdiction, the remaining provisions shall continue in full force and effect. 46. Provisions A. 'cable When State Funds or Federal Funds Are Involved. When funding for the S c- nder a Task Order is provided by this Agreement are provided, in whole o part, .m the United States Department of Transportation, Consultant shall al : Ily and -qu.tely comply with the provisions included in Exhibit "C" (Federal Depart _;,t of " s• n 'on Requirements and California Department of Transportation (Caltran = _ p am - • uirements) attached hereto and incorporated herein by reference. When f a,r�� ���.or th�`�Services under a Task Order is provided, in whole or in part, from the FT- ons'4"'' -hall also fully and adequately comply with the provisions included in Exhibit "F" (F Requires ts) attached hereto and incorporated herein by reference 47. Survival. All rights and oblig continue after any expiration or termination of the indemnification and confidentiality oblig termination. er that by their nature are to including, but not limited to, any such expiration or 48. No Third Party Beneficiaries. There are no inten of any right or obligation assumed by the Parties. arty beneficiaries 49. Labor Certification. By its signature hereunder, Consultant certifies that it is aware of the provisions of Section 3700 of the California Labor Code which require every employer to be insured against liability for Workers' Compensation or to undertake self- insurance in accordance with the provisions of that Code, and agrees to comply with such provisions before commencing the performance of the Services. 50. Counterparts. This Agreement may be signed in counterparts, each of which shall constitute an original. 51. Attorney Client Privilege. The Parties recognize that, during the Project, the Commission and its attorneys will engage in communication that gives rise to an attorney client privilege of confidentiality ("Confidential Communication"). Given the nature of the work done by Consultant for the Commission, it may be necessary for the Consultant to participate in Confidential Communications. To the extent that (i) the Consultant is a party to any Confidential Communication, and (ii) a third party seeks discovery of such 464 communications, then the Consultant shall be deemed to be an agent of the Commission solely for purposes of preserving any attorney client privilege in the relevant Confidential Communication. Any such attorney client privilege shall be held by the Commission and the Consultant is not authorized to waive that privilege or, otherwise, disclose such Confidential Communication except as set forth below. This Section is intended to maintain the privilege in any privileged Confidential Communications that are (1) between and among Commission, Consultant, and Commission's attorneys; (2) between Consultant (on behalf of the Commission) and Commission's attorneys; (3) Confidential Communications that occur in Closed Session meetings wherein the Commission, the Commission's attorneys and Consultant are present; and (4) between Commission and Consultant wherein the substance of the Confidential Communication is conveyed to/from the Consultant. Consultant ma disclose a Confidential Communication to the extent such disclosure is required by I- 'rocess, by a court of competent jurisdiction or by any other governmental authority .vi.. that any such disclosure shall be limited to the specific part of the Confide ► Com ication required to be disclosed and provided that Consultant first co 1 with t e• ' ements set forth in this paragraph. As soon as practicable after Cons. - i • • : - re that it is required, or may become required, to disclose the Confidentia om ' ratio for such reason, Consultant shall notify the Commission in writing, in ord= • a th= ommission to pursue legal remedies designed to limit the Confidential Co muni required to be disclosed or to assure the confidential treatment of the disclos: inform. ' flowing its disclosure. Consultant shall cooperate with the Commission, o a ale basis, to assist the Commission in limiting the scope of disclosure or a _rrin► confi tial treatment of any disclosed information. 52. Subpoenas or Court Orders. Sh. o tant r -ive a subpoena or court order related to this Agreement, the Services or he Proj ct, Con ant shall immediately provide written notice of the subpoena or court order to the Co ► s''Y.. . Consultant shall not respond to any such subpoena or court order until notice mission is provided as required herein, and shall cooperate with the Co ' ' sion in responding to the subpoena or court order. 53. Assignment or Transfer. Consultant shall not assign, hypothecate, or transfer, either directly or by operation of law, this Agreement or any interest herein, without the prior written consent of the Commission. Any attempt to do so shall be null and void, and any assignees, hypothecates or transferees shall acquire no right or interest by reason of such attempted assignment, hypothecation or transfer. 54. Successors and Assigns. This Agreement shall be binding on the successors and assigns of the parties, and shall not be assigned by Consultant without the prior written consent of Commission. 55. Incorporation of Recitals. The recitals set forth above are true and correct and are incorporated into this Agreement as though fully set forth herein. 465 56. No Waiver. Failure of Commission to insist on any one occasion upon strict compliance with any of the terms, covenants or conditions hereof shall not be deemed a waiver of such term, covenant or condition, nor shall any waiver or relinquishment of any rights or powers hereunder at any one time or more times be deemed a waiver or relinquishment of such other right or power at any other time or times. [Signatures on following page] 466 SIGNATURE PAGE TO PROFESSIONAL SERVICES AGREEMENT WITH PROPOSITION 1 B, FTA AND FHWA FUNDING ASSISTANCE FOR ENVIRONMENTAL CONSULTING SERVICES IN WITNESS WHEREOF, this Agreement was executed on the date first written above. RIVERSIDE COUNTY TRANSPORTATION COMM ION By: Anne Mayer Approved as to Form: By: Best, Best & Krieger LLP General Counsel CONSULTANT GPA CONSULTING By: Signature Name Ti ATTEST: By: Its: * A corporation requires the signatures of two corporate officers. One signature shall be that of the chairman of board, the president or any vice president and the second signature (on the attest line) shall be that of the secretary, any assistant secretary, the chief financial officer or any assistant treasurer of such corporation. If the above persons are not the intended signators, evidence of signature authority shall be provided to RCTC. 467 EXHIBIT "A" - SCOPE OF SERVICES ON -CALL ENVIRONMENTAL CONSULTING SERVICES 1.0 DESCRIPTION OF WORK 1.1 Consultant Responsibilities shall include, but will not be limited to the following: 1.1.1 Review and evaluate project -specific environmental documents to assess current compliance/validity under California Environmental Quality Act (CEQA) and National Environm environmental requir documentation revalidation/reeval support the assess Policy Act (NEPA) due to changes in project design, elapsed time, etc. Prepare appropriate written lemental materials (e.g., environmental d• -- i dum, update technical reports and studies, etc.) to 1.1.2 Revie d • ide ritten input on project -specific environmental documents, technical report , and as requested by Commission staff (e.g., air quality, water quality, noise, cultur esourc eontology, biology, MSHCP studies, and Sections 4[f] and 6[f]). 1.1.3 Permitting servi -s in tion of permit packages(s) and submittal to permitting agency(ies); coord do rmitting agency(ies); and shepherding permits(s) through their respe• e h *val p ess(es). 1.1.4 Implementing, monitoring, and d•cumen ' the progress and success of environmental commitments during construction a - :o .,onstruction (e.g., environmentally sensitive area [ESA] fencing, permit con ``° ns, habitat restoration, revegetation, special environmental provisions, etc.). 1.1.5 Support of project compliance with Western Riverside County Multispecies Habitat Conservation Plan (MSHCP) including preparation of documentation needed to support consistency determination process. specific issues. 1.1.6 Coordination with regulatory and resources agencies as needed, on 1.1.7 Other environmental services as requested by Commission staff. 1.1.8 In addition to meeting with and coordinating efforts with Commission staff, Consultant may also be required to interact with Commission legal counsel, other consultants, Caltrans, Federal Transit Administration, Federal Highway Administration, et al. 17336.00603\31171937.1 Exhibit A 468 1.1.9 If any legal issues exist during the course of work authorized under this scope of work, Consultant shall inform Commission. All legal opinions shall be rendered by Commission's legal counsel. 1.1.10 If hazardous materials or wastes are discovered during the course of work authorized under this scope of work, Consultant shall inform Commission and seek further direction from the Commission. 1.2 Materials to be Furnished by Commission 1.2.1 All software, data, reports, surveys, drawings, and other documents furnished to the Offeror by Commission for the Offeror's use in the performance of services shall be made available only for use in performing the assignment and shall remain the property of Commission. All such materials shall be returned to Commission upon completion of sery , termination of the agreement, or other such time as Commission may dete 1.3 Pers 1.3.1 determined by the scope of th tasks to be performed. All approval by Commission. 1.4 Third Party Relations ions and Responsibilities ifications of personnel to be assigned will be quest and the degree of difficulty of required personnel assignments shall be subject to 1.4.1 This Contract is intend pro ' -call environmental services for Commission projects. In the developmen f th om ion projects, Commission has worked closely with various professio 1 ag ies, and others in the development of the project documents and oth rojec late • ``- -terials. Commission, however, is solely responsible for and will be the sole point of for all contractual matters related to the Task Orders. Offeror shall take direction . ; , ` fro Commission and shall regularly inform only Commission of Task Order pro• outstanding issues, and all related matters. 1.4.2 During the course of the contract, Offeror may find occasion to meet with resource agencies, local jurisdictions, or Caltrans representatives, the design engineer, or other third parties who have assisted with the various Plan projects. These entities may, from time to time, offer suggestions and/or recommendations regarding the Commission project or elements of the project. While the Commission enjoys a close relationship with and has considerable confidence in the capabilities of these other parties, Offeror shall not act on any suggestions, solicited or unsolicited, without obtaining specific direction from Commission. All oral and written communication with outside agencies or Offerors related to the project shall be directed only to Commission. Distribution of project related communications and information shall be at the sole discretion of Commission representatives. 2.0 TASK ORDER PROCEDURES 17336.00603\31171937.1 Exhibit A 469 2.1 Definitions 2.1.1 The term Consultant shall refer to the firm or firms that are awarded the contract for environmental consulting services. 2.1.2 A Task Order is utilized by the parties to establish, outline, and authorize a particular job or task. 2.2 Initiating Task Orders 2.2.1 The Commission's project manager will issue Task Orders to the Consultant. 2.2.2 The C for a Task Order Propo shall develop a plan Task Order shall classification(s) to mission's request for task order submittals. Upon a request e designated Commission project manager, contractor a task order proposal for the requested services. The me schedule, number of labor hours, and labor d services. 2.3 Review an 4 war- • ers 2.3.1 The Co miss :esignated project manager will review the submitted Task Order (TO) to ens that the submittal is complete, consistent with the Commission's written or oral reque o rvices, the personnel assigned are acceptable, the schedule is acceptable, that all cats proposed are appropriate, and that the item is in compliance with contractual requirements. The project manager will award the Task Order if it is determined to be fair and reasonable. If required, the Commission's project manager will conduct negotiations to address exceptions a i= .clarify costs. The fully executed Task Order will serve as the record of negotiations. 2.4 Completion Schedule 2.4.1 The contractors' performance of se ices shall commence under each Task Order only upon written authorization by the Commission's designated project manager. 2.4.2 Contractor shall complete the services within the time frame specified on a particular Task Order. 17336.00603\31171937.1 Exhibit A 470 EXHIBIT "B"- COMPENSATION AND PAYMENT Exhibit B-1 17336.00603\31171937.1 471 EXHIBIT "B" COMPENSATION SUMMARY' FIRM PROJECT TASKS/ROLE COST Prime Consultant: GPA Consulting On -Call Environmental Consulting Services $ 3,000,000.00 Sub Consultants: Galvin Preservation Associates NEPA/CEQA Lead TBD Ambient Air Quality & Noise Consulting Noise and Vibration TBD Cereus Environmental Biology Support TBD Duke Cultural Resources Management Archaeology and Paleontology TBD Environmental Review Partners Air Quality, Greenhouse Gas, Climate & Energy Resources TBD Geocon West, inc. Geology and Soils TBD Natural Resources Assessment, Inc. Biology Support TBD Statistical Resource Incorporated Archaeology and Paleontology TBD TOTAL COSTS 3,000,000.00 1 Commission authorization pertains to total contract awa the maximum total compensation authorized may not be ion adjustments between consultants may occur; however, 472 EXHIBIT "C" FHWA/ CALTRANS REQUIREMENTS 1. STATEMENT OF COMPLIANCE. A. Consultant's signature affixed herein shall constitute a certification under penalty of perjury under the laws of the State of California that CONSULTANT has, unless exempt, complied with, the nondiscrimination program requirements of Government Code Section 12990 and Title 2, California Administrative Code, Section 8103. B. During the performance of this Agreement, Consultant and its subconsultants shall not unlawfully discriminate, har- s, or allow harassment against any employee or applicant for employment because of s- e, color, ancestry, religious creed, national origin, physical disability (including HIV d AI ► , mental disability, medical condition (e.g., cancer), age (over 40), marital st. ., and dh al of family care leave. Consultant and subconsultants shall insure that t valuati• an• eatment of their employees and applicants for employment are fre- u : imination and harassment. Consultant and subconsultants shall comp y wi - pro ons of the Fair Employment and Housing Act (Gov. Code §12990 (a -f) et s- . an, .e plicable regulations promulgated there under (California Code of Regulations, Titl: ', -ction 7285 et seq.). The applicable regulations of the Fair Employment and Housin• ommi plementing Government Code Section 12990 (a -f), set forth in Chapter o . io of Title 2 of the California Code of Regulations, are incorporated into this - gre by re -nce and made a part hereof as if set forth in full. Consultant and its subco Ita s give written notice of their obligations under this clause to labor orga ch they have a collective bargaining or other Agreement. C. If this Agreement is federally funded, the Consultant sh o ' y with regulations relative to Title VI (nondiscrimination in federally -assisted pr' ams o the Department of Transportation — Title 49 Code of Federal Regulations, P. 1 - Effectuation of Title VI of the 1964 Civil Rights Act). Title VI provides that the recipients of federal assistance will implement and maintain a policy of nondiscrimination in which no person in the state of California shall, on the basis of race, color, national origin, religion, sex, age, disability, be excluded from participation in, denied the benefits of or subject to discrimination under any program or activity by the recipients of federal assistance or their assignees and successors in interest. D. If this Agreement is federally funded, the Consultant, with regard to the work performed by it during the Agreement shall act in accordance with Title VI. Specifically, the Consultant shall not discriminate on the basis of race, color, national origin, religion, sex, age, or disability in the selection and retention of Subconsultants, including procurement of materials and leases of equipment. The Consultant shall not participate either directly or indirectly in the discrimination prohibited by Section 21.5 of the U.S. DOT's Regulations, Exhibit C-1 17336.00603\31171937.1 473 including employment practices when the Agreement covers a program whose goal is employment. 2. DEBARMENT AND SUSPENSION CERTIFICATION CONSULTANT's signature affixed herein, shall constitute a certification under penalty of perjury under the laws of the State of California, that CONSULTANT has complied with Title 2 CFR, Part 180, "OMB Guidelines to Agencies on Government wide Debarment and Suspension (nonprocurement)", which certifies that he/she or any person associated therewith in the capacity of owner, partner, director, officer, or manager, is not currently under suspension, debarment, voluntary exclusion, or determination of ineligibility by any federal agency; has not been suspended, debarred, voluntarily excluded, or determined ineligible by any federal agency within the past three (3) years; does not have a proposed debarment pending; and has not been indicted, convicted, or had a civil judgment rendered against it by a court of competent jurisdiction in any matter involving fraud or official misconduct within the past three (3) years. Any exceptions to this certification must be disclosed to COMMISSION. B. Exceptions will not necessarily result in denial of recommendation for award, but will be considered in determining CONSULTANT responsibility. Disclosures must indicate to whom exceptions apply, initiating agency, and dates of action. C. Exceptions to the Federal Government Excluded Parties List System maintained by the General Services Administration are be letermined by the Federal highway Administration. 3. DISCRIMINATION The Commission shall not discriminate on the basis of race, color, national origin, or sex in the award and performance of any DOT -assisted contract or in the implementation of the Caltrans DBE program or the requirements of 49 CFR Part 26. The Commission shall take all necessary and reasonable steps under 49 CFR Part 26 to ensure nondiscrimination in the award and administration of DOT -assisted contracts. Consultant or subcontractor shall not discriminate on the basis of race, color, national origin, of sex in the performance of this Agreement. Consultant or subcontractor shall carry out applicable requirements of 49 CFR Part 26 and the Caltrans DBE program in the award and administration of DOT -assisted contracts, as further set forth below. Failure by the Consultant or subcontractor to carry out these requirements is a material breach of this Agreement, which may result in the termination of this Agreement or such other remedy, as the Commission deems appropriate. 4. PROMPT PAYMENT Consultant agrees to pay each subcontractor under this prime contract for satisfactory performance of its contract no later than 10 days from the receipt of each payment the Exhibit C-2 474 17336.00603\31171937.1 prime contractor receives from the Commission. Any delay or postponement of payment from the above referenced time frame may occur only for good cause following written approval of the Commission. This clause applies to both DBE and non -DBE subcontractors. 5. RELEASE OF RETAINAGE No retainage will be withheld by the Agency from progress payments due the prime consultant. Retainage by the prime consultant or subconsultants is prohibited, and no retainage will be held by the prime consultant from progress due subconsultants. Any violation of this provision shall subject the violating prime consultant or subconsultants to the penalties, sanctions, and other remedies specified in Section 7108.5 of the California Business and Professions Code. This requirement shall not be construed to limit or impair any contractual, administra 've, or judicial remedies, otherwise available to the prime consultant or subconsulta e event of a dispute involving late payment or nonpayment nt subconsultant performance, or noncompliance by a lies to both DBE and non -DBE prime consultants and by the prime consulta subconsultant. This subconsultants. 6. LEGAL REMEDI In addition to those contract remedie orth under relevant provisions of California law, either Party to this Agreement may, here a. - - le, seek legal redress for violations of this Agreement pursuant to the rel .• s of 49 C.F.R. Parts 23 and 26, to the relevant federal or state statutory pro i sio ernin ivil rights violations, and to the relevant federal and state provisions governin alse i r "whistleblower" actions, as well as any and all other applicable federal s ovis s of law. The Consultant shall include a provision to this effect in each o subcontractors. 7. DBE PARTICIPATION agreements with its Caltrans has developed a statewide DBE program pursuant to 49 C.F.R. Part 26. The requirements and procedures, as applicable, of the Caltrans DBE program are hereby incorporated by reference into this Agreement. Even if no DBE participation will be reported, Consultant shall complete Exhibits "D" of this Agreement in compliance with the Caltrans DBE program, a final utilization report in the form provided by the Commission, and any other Caltrans required DBE forms. A. This Agreement is subject to Title 49, Part 26 of the Code of Federal Regulations entitled "Participation by Disadvantaged Business Enterprises in Department of Transportation Financial Assistance Programs." By obtaining DBE participation on this Agreement, Consultant will assist Caltrans in meeting its federally mandated statewide overall DBE goal. Exhibit C-3 17336.00603\31171937.1 475 B. This Agreement has established a 17% DBE goal. If a DBE subconsultant is unable to perform, the Consultant must make a good faith effort to replace him/her with another DBE subconsultant, if the goal is not otherwise met. A DBE is a firm meeting the definition of a DBE as specified in 49 CFR. C. DBE and other small businesses (SB), as defined in Title 49 CFR, Part 26 are encouraged to participate in the performance of agreements financed in whole or in part with federal funds. The Consultant, subrecipient or subconsultant shall not discriminate on the basis of race, color, national origin, or sex in the performance of this Agreement. The Consultant shall carry out applicable requirements of 49 CFR, Part 26 in the award and administration of US DOT- assisted agreements. Failure by the contractor to carry out these requirements is a material breach of this Agreement, which may result in the termination of this Agreement or such other remedy as the Commission, Caltrans or the Department of Transportati deems appropriate. D. Any subcontrac to as a result of this Agreement shall contain all of the provisions of this se E. A DBE may be terminated only with prior written approval from the Commission and only for the reasons specified in 49 CFR 26.53(f). Prior to requesting Commission consent for the termination, the prime consultant must meet the procedural requirements specified in 49 CFR 26.53(f). 8. DBE PARTICIPATION GENERAL INFORMATION It is Consultant's responsibility to be fully informed regarding the requirements of 49 CFR, Part 26, and the Caltrans DBE program. Particular attention is directed to the following: A. A DBE must be a small business firm defined pursuant to 13 CFR 121 and be certified through the California Unified Certification Program (CUCP). B. A certified DBE may participate as a prime contractor, subcontractor, joint venture partner, as a vendor of material or supplies, or as a trucking company. C. A DBE joint -venture partner must be responsible for specific contract items of work or clearly defined portions thereof. Responsibility means actually performing, managing and supervising the work with its own forces. The DBE joint venture partner must share in the capital contribution, control, management, risks and profits of the joint -venture commensurate with its ownership interest. D. A DBE must perform a commercially useful function, pursuant to 49 CFR 26.55 that is, must be responsible for the execution of a distinct element of the work and must carry out its responsibility by actually performing, managing and supervising the work, as more fully described in section 8 below. Exhibit C-4 17336.00603\31171937.1 476 E. The Consultant shall list only one subcontractor for each portion of work as defined in the Consultant's bid/proposal and all DBE subcontractors should be listed in the Consultant's bid/cost proposal list of subcontractors. F. A Consultant who is a certified DBE is eligible to claim all of the work in the Agreement toward the DBE participation except that portion of the work to be performed by non -DBE subcontractors. 9 . COMMERCIALLY USEFUL FUNCTION A. A DBE performs a commercially useful function when it is responsible for execution of the work of the Agreement and is carrying out its responsibilities by actually performing, managing, and supervising the work involved. To perform a commercially useful function, the DBE must also be responsible with respect to materials and supplies used on the Agreement, for negotiating price, determining quality and quantity, ordering the material, and installing (where applicable) and paying for the material itself. To determine whether a DBE is performing a commercially useful function, evaluate the amount of work subcontracted, industry practices; whether the amount the firm is to be paid under the Agreement is commensurate wit rk it is actually performing, and other relevant factors. B. A DBE does not perform a commercially useful function if its role is limited to that of an extra participant in a transaction, Agreement, or project through which funds are passed in order to obtain the appearance of DBE participation. In determining whether a DBE is such an extra participant, examine similar transa tions,sparticularly those in which DBEs do not participate. C. If a DBE does not perform or exercise responsibility for at least thirty percent of the total cost of its Agreement with its own work force, or the DBE subcontracts a greater portion of the work of the Agreement than would be expected on the basis of normal industry practice for the type of work involved, it will be presumed that it is not performing a commercially useful function. 10. DBE CERTIFICATION AND DE -CERTIFICATION STATUS If a DBE subcontractor is decertified during the life of the Agreement, the decertified subcontractor shall notify the Contractor in writing with the date of de -certification. If a subcontractor becomes a certified DBE during the life of the Agreement, the subcontractor shall notify the Contractor in writing with the date of certification. Any changes should be reported to the Commission's Contract Administrator within 30 days. 11. DBE RECORDS A. The Contractor shall maintain records of materials purchased and/or supplied from all subcontracts entered into with certified DBEs. The records shall show the name and business address of each DBE or vendor and the total dollar amount actually paid each Exhibit C-5 17336.00603\31171937.1 477 DBE or vendor, regardless of tier. The records shall show the date of payment and the total dollar figure paid to all firms. DBE prime Contractors shall also show the date of work performed by their own forces along with the corresponding dollar value of the work. B. Upon completion of the Agreement, a summary of these records shall be prepared and submitted on the most current version of the form entitled, "Final Report -Utilization of Disadvantaged Business Enterprises (DBE)," CEM- 2402F (Exhibit 17-F in Chapter 17 of the LAPM), certified correct by the Contractor or the Contractor's authorized representative and shall be furnished to the Commission's Contract Administrator with the final invoice. Failure to provide the summary of DBE payments with the final invoice will result in twenty- five percent (25%) of the dollar value of the invoice being withheld from payment until the form is submitted. The amount will be returned to the Contractor when a satisfactory "Final Report Utilization of Disadvantaged Business Enterprises (DBE)" is submitted to the Commission's Contract Administrator. a. Prior to the fifteen of e month, the Contractor shall submit documentation to the Commission's Contract Admi strator showing the amount paid to DBE trucking companies. The Contractor shall also obtain and submit documentation to the Commission's Contract Administrator showing the amount paid by DBE trucking companies to all firms, including owner -operators, for the leasing of trucks. If the DBE leases trucks from a non -DBE, the Contractor may count only the fee or commission the DBE receives as a result of the lease arrangement. b. The Contractor shall also submit to the Commission's Contract Administrator documentation showing the truck number, name of owner, California Highway Patrol CA number, and if applicable, the DBE certification number of the truck owner for all trucks used during that month. This documentation shall be submIllbd on the Caltrans "Monthly DBE Trucking Verification," CEM-2404(F) form provided t he Contractor by the Commission's Contract Administrator. 12. REPORTING MATERIAL OR SUPPLIES PURCHAS FROM DBEs When Reporting DBE Participation, Material or Supplies purchased from DBEs may count as follows: A. If the materials or supplies are obtained from a DBE manufacturer, 100 % of the cost of the materials or supplies will count toward the DBE participation. A DBE manufacturer is a firm that operates or maintains a factory or establishment that produces on the premises, the materials, supplies, articles, or equipment required under the Agreement and of the general character described by the specifications. B. If the materials or supplies purchased from a DBE regular dealer, count 60 % of the cost of the materials or supplies toward DBE goals. A DBE regular dealer is a firm that owns, operates or maintains a store, warehouse, or other establishment in which the materials, supplies, articles or equipment of the general character described by the specifications and required under the Agreement, are bought, kept in stock, and regularly Exhibit C-6 17336.00603\31171937.1 478 sold or leased to the public in the usual course of business. To be a DBE regular dealer, the firm must be an established, regular business that engages, as its principal business and under its own name, in the purchase and sale or lease of the products in question. A person may be a DBE regular dealer in such bulk items as petroleum products, steel, cement, gravel, stone or asphalt without owning, operating or maintaining a place of business provided in this section. C. If the person both owns and operates distribution equipment for the products, any supplementing of regular dealers' own distribution equipment, shall be by a long-term lease agreement and not an ad hoc or Agreement -by -Agreement basis. Packagers, brokers, manufacturers' representatives, or other persons who arrange or expedite transactions are not DBE regular dealers within the meaning of this section. D. Materials or supplies purchased from a DBE, which is neither a manufacturer nor a regular dealer, will be limited to the entire amount of fees or commissions charged for assistance in the procurement of the materials and supplies, or fees or transportation charges for the deliv of mater Is or supplies required on the job site, provided the fees are reasonable an t exces a compared with fees charged for similar services. 13. REPORTING PARTICIP • N O ' BE TRUCKING COMPANIES When Reporting DBE Participation, pation of DBE trucking companies may count as follows: A. The DBE must be responsible trucking operation for which it is responsible. B. The DBE must itself own and opera operational truck used on the Agreement. agernent and supervision of the entire licensed, insure, and C. The DBE receives credit for the total value of the trans Ftation services it provides on the Agreement using trucks it owns, insures, and operates using drivers it employs. D. The DBE may lease trucks from another DBE firm including an owner -operator who is certified as a DBE. The DBE who leases trucks from another DBE receives credit for the total value of the transportation services the lessee DBE provides on the Agreement. E. The DBE may also lease trucks from a non -DBE firm, including an owner -operator. The DBE who leases trucks from a non -DBE is entitled to credit only for the fee or commission it receives as a result of the lease arrangement. The DBE does not receive credit for the total value of the transportation services provided by the lessee, since these services are not provided by the DBE. F. For the purposes of this section, a lease must indicate that the DBE has exclusive use and control over the truck. This does not preclude the leased truck from working for others during the term of the lease with the consent of the DBE, as long as the lease gives Exhibit C-7 17336.00603\31171937.1 479 the DBE absolute priority for use of the leased truck. Leased trucks must display the name and identification number of the DBE. 14. DEBARMENT, SUSPENSION AND OTHER INELIGIBILITY AND VOLUNTARY EXCLUSION In accordance with 49 CFR Part 29, which by this reference is incorporated herein, Consultant's subconsultants completed and submitted the Certificate of subconsultant Regarding Debarment, Suspension and Other Ineligibility and Voluntary Exclusion as part of the Consultant's proposal. If it is later determined that Consultant's subconsultants knowingly rendered an erroneous Certificate, the Commission may, among other remedies, terminate this Agreement. 15. ENVIRONMENTAL COMPLIANCE A. Compliance with aII llicable standards, orders, or requirements issued under section 306 of the Clean Air Act (42 U.S.C. 1857(h)), section 508 of the Clean Water Act (33 U.S.C. 1368), Executive Order 11738, and Environmental Protection Agency regulations (40 CFR part 15). (Contracts, subcontracts, and subgrants of amounts in excess of $100,000). B. Mandatory standards and policies relating to energy efficiency which are contained in the state energy conservation plan issued in compliance with the Energy Policy and Conservation Act (Pub. L. 94-163, 89 Stat. 871). 16. NATIONAL LABOR RELATIONS BOARD CERTIFICATION In accordance with Public Contract Code Section 10296, and by signing this Agreement, Consultant certifies under penalty of perjury that no more than one final unappealable finding of contempt of court by a federal court has been issued against Consultant within the immediately preceding two-year period, because of Consultant's failure to comply with an order of a federal court that orders Consultant to comply with an order of the National Labor Relations Board. Exhibit C-8 17336.00603\31171937.1 480 EXHIBIT "0" CONSULTANT DBE COMMITMENT Consultant to Complete this Section 1. Local Agency Name: Riverside County Transportation Commission 2. Project Location: Riverside County 3. Project Description: On -Call Environmental Consulting Services 4. Consultant Name: 5. Contract DBE Goal %: 17% Commitment Information 6. Description of Services to be Provi 7. DBE Firm Con t Information 8. DBE Cert. Number 9. DBE Exhibit D-1 17336.00603\31171937.1 481 EXHIBIT "E" - FTA PROVISIONS FTA FUNDING REQUIREMENTS (Non-construction/maintenance work) As used herein, "RCTC" shall have the same meaning as the "Commission." The term "contract" or "Contract" shall have the same meaning as the "Agreement." 1. No Obligation by the Federal Government a. RCTC and Consultant acknowledge and agree that, notwithstanding any concurrence by the Federal Government in or approval of the solicitation or award of the underlying contract, absent the express written consent by the Federal Government, the Federal Government is not a party to this contract and shall not be subject to any obligations or liabilities to the Purchaser, Consultant, or any other party (whether or not a party to that contract) pertaining to any matter resulting from the underlying contract. b. The Consultant agre= • i elude the above clause in each subcontract financed in whole or in part with Federal assista ' rovided by FTA. It is further agreed that the clause shall not be modified, except to identify the onsultant o will be subject to its provisions. 2. Program Fraud an t Statements or Related Acts a. The Consultant acknowl es that the provisions of the Program Fraud Civil Remedies Act of 1986, as amended, 31 U.S.C. § 3801 t seq. and U. DOT regulations, "Program Fraud Civil Remedies," 49 C.F.R. Part 31, apply to s actions pertaining to this Project. Upon execution of the underlying contract, the Consultant certifies or affirms the trutl ulness and accuracy of any statement it has made, it makes, it may make, or causes to be made, pe to the underlying contract or the FTA assisted project for which this contract work is being perfor . In addition to other penalties that may be applicable, the Consultant further ackn*wledges that if i makes, or causes to be made, a false, fictitious, or fraudulent claim, statement, submission, or coertificat. ^. the Federal Government reserves the right to impose the penalties of the Program Fraud Civil ► . ' ies Act of 1986 on the Consultant to the extent the Federal Government deems appropria b. The Consultant also acknowledges that if it makes, or ca - s to be made, a false, fictitious, or fraudulent claim, statement, submission, or certification to the Federal Government under a contract connected with a project that is fmanced in whole or in part with Federal assistance originally awarded by FTA under the authority of 49 U.S.C. § 5307, the Government reserves the right to impose the penalties of 18 U.S.C. § 1001 and 49 U.S.C. § 5307(n)(1) on the Consultant, to the extent the Federal Government deems appropriate. c. The Consultant agrees to include the above two clauses in each subcontract financed in whole or in part with Federal assistance provided by FTA. It is further agreed that the clauses shall not be modified, except to identify the subconsultant who will be subject to the provisions. 3. Access to Records The Consultant agrees to the following access to records requirements: 17336.00603\31171937.1 Exhibit E-1 482 a. To provide RCTC, the FTA Administrator, the Comptroller General of the United States or any of their authorized representatives access to any books, documents, papers and records of the Consultant which are directly pertinent to this contract for the purposes of making audits, examinations, excerpts and transcriptions. Consultant also agrees, pursuant to 49 C. F. R. 633.17 to provide the FTA Administrator or his authorized representatives including any PMO Consultant access to Consultant's records and construction sites pertaining to a major capital project, defined at 49 U.S.C. 5302(a)1, which is receiving federal financial assistance through the programs described at 49 U.S.C. 5307, 5309 or 5311. b. To make available in the case of a contract for a capital project or improvement, as defined above and awarded by other than competitive bidding in accordance with 49 U.S.C. 5325(a), records related to the contract to RCTC, the Secretary of Transportation and the Comptroller General or any authorized officer or employee of any of them for the purposes of conducting an audit and inspection. c. To maintain all books, records, accounts and reports required under this contract for a period of not less than three years after the'date of termination or expiration of this contract, except in the event of litigation or settlement of claimsarising from the performance of this contract, in which case Consultant agrees to maintain same Ail RCTC, the FTA Administrator, the Comptroller General, or any of their duly authorized representatives, have disposed of all such litigation, appeals, claims or exceptions related thereto. Referejce 499 18.39(i)(11). d. To permit any of the foregoing parties reproduce by any means whatsoever or to copy excerpts and transcriptions as reasonably needed. 4. Federal Changes The Consultant shall at all times comply with all ap ble FTA re ulations, policies, procedures and directives, including without limitation those listed directly or by rence in the Master Agreement between RCTC and FTA, as they may be amended4or promulgated time to time during the term of this contract. Consultant's failure to so comply shall constitute a ma t breach of this contract. 5. Civil Rights The following requirements apply to the underlying contract: (1) Nondiscrimination - In accordance with Title VI of the Civil Rights Act, as amended, 42 U.S.C. § 2000d, section 303 of the Age Discrimination Act of 1975, as amended, 42 U. S.C. § 6102, section 202 of the Americans with Disabilities Act of 1990, 42 U.S.C. § 12132, and Federal transit law at 49 U.S.C. § 5332 and 49 CFR part 21, the Consultant agrees that it will not discriminate against any employee or applicant for employment because of race, color, creed, national origin, sex, age, or disability. In addition, the Consultant agrees to comply with applicable Federal implementing regulations and other implementing requirements FTA may issue. (2) Equal Employment Opportunity - The following equal employment opportunity requirements apply to the underlying contract: (a) Race, Color, Creed, National Origin, Sex - In accordance with Title VII of the Civil Rights Act, as amended, 42 U.S.C. § 2000e, and Federal transit laws at 49 U.S.C. § 5332, the Consultant Exhibit E-2 17336.00603\31171937.1 483 agrees to comply with all applicable equal employment opportunity requirements of U.S. Department of Labor (U.S. DOL) regulations, "Office of Federal Contract Compliance Programs, Equal Employment Opportunity, Department of Labor," 41 C.F.R. Parts 60 et seq ., (which implement Executive Order No. 11246, "Equal Employment Opportunity," as amended by Executive Order No. 11375, "Amending Executive Order 11246 Relating to Equal Employment Opportunity," 42 U.S.C. § 2000e note), and with any applicable Federal statutes, executive orders, regulations, and Federal policies that may in the future affect construction activities undertaken in the course of the Project. The Consultant agrees to take affirmative action to ensure that applicants are employed, and that employees are treated during employment, without regard to their race, color, creed, national origin, sex, or age. Such action shall include, but not be limited to, the following: employment, upgrading, demotion or transfer, recruitment or recruitment advertising, layoff or termination; rates of pay or other forms of compensation; and selection for training, including apprenticeship. In addition, the Consultant agrees to comply with any implementing requirements FTA may issue. (b) Age - In accordance with section 4 of the Age Discrimination in Employment Act of 1967, as amended, 29 U.S.C. § § 6 Opportunity Commission ( C.F.R. part 1625, the Age Health and Human Services regulations, "Nondiscrimination on the Basis of Age in Programs or Activities Receiving Federal Financial Assi nce," 45 C.F.R. part 90, the Consultant agrees to refrain from discrimination against present and prosp , tive employees for reason of age. In addition, the Consultant agrees to comply with i . leme ng requirements FTA may issue. (c) Disabilities - In accordance wrl section 504 ot the Rehabilitation Act of 1973, as amended, 29 U.S.C. § 794, the Americans with Disabilities Act of 190, as amended, 42 U.S.C. § 12101 et seq., the Architectural Barriers Act of 1968, as amended, 42 U.S.C. § 4151 et seq., and Federal transit law at 49 U.S.C. § 5332, the Consultant agrees that it will noteiscn e against individuals on the basis of disability, and that it will comply with the requirement f U.S. Equal Employment Opportunity Commission, "Regulations to Implement the Equal E oyment Pre ' ions of the Americans with Disabilities Act," 29 C.F.R. Part 1630, pertaining to. employment o rsons with disabilities. In addition, the Consultant agrees to comply with any implementing requi is FTA may issue. ederal transit law at 49 U.S.C. § 5332, the Equal Employment C) regulations, "Age Discrimination in Employment Act," 29 scrimination Act of 1975, as amended, 42 U.S.C. § 6101 et seq., U.S. (3) The Consultant also agrees to include these requirements in e or in part with Federal assistance provided by FTA, modified o affected parties. ubcontract financed in whole if necessary to identify the 6. FTA Disadvantaged Business Enterprise (DBE) Requirements A. General DBE Requirements: In accordance with Federal financial assistance agreements with the U.S. Department of Transportation (U.S. DOT), Commission has adopted a Disadvantaged Business Enterprise (DBE) Policy and Program, in conformance with Title 49 CFR Part 26, "Participation by Disadvantaged Business Enterprises in Department of Transportation Programs" (the "Regulations"). This RFP is subject to these stipulated regulations. In order to ensure that Commission achieves its overall DBE Program goals and objectives, Commission encourages the participation of DBEs as defined in 49 CFR 26 in the performance of contracts financed in whole or in part with U.S. DOT funds. It is the policy of the Commission to: Exhibit E-3 17336.00603\31171937.1 484 1. Ensure nondiscrimination in the award and administration of DOT -assisted contracts; 2. Create a level playing field on which DBE's can compete fairly for DOT -assisted contracts; 3. Ensure that the DBE program is narrowly tailored in accordance with applicable law; 4. Ensure that only firms that fully meet 49 C.F.R. part 26 eligibility standards are permitted to participate as DBE's; 5. Help remove barriers to the participation of DBEs in DOT assisted contracts; 6. To promote the use of DBEs in all types of federally assisted contracts and procurement activities; and 7. Assist in the development of firms that can compete successfully in the marketplace outside the DBE program. B. Discrimination: Consultant shall not discriminate on the basis of race, color, national origin, or sex in the award and performance of subcontracts. Any terms used herein that are defined in 49 CFR Part 26, or elsewhere in Reg 'on 1 have the meaning set forth in the Regulations. C. Commission's Race-Neutr. 'ro r. A Race -Neutral DBE Program is one that, while benefiting DBEs, is not solely fo, . ed o ' " s. Therefore, under a Race -Neutral DBE Program, Commission does not establish numeric e-conscio 1 BE participation goals on its DOT -assisted contracts. There is no FTA DBE • oal o his P Consultant shall not be required to achieve a spe ific level of DBE participation as a condition of contract compliance in the performance of this DOT -assisted contract. However, Consultant shall adhere to race -neutral DBE participation cortimitment(s) made' -ache time of award. D. Race -Neutral DBE Submissions and Ongoing Reporting ments (Post -Award): At termination of the Contract, the successful Consultant shall comp nd s mit to Commission a "DBE Race -Neutral Participation Listing" in the form provided b mmission. In the event DBE(s) are utilized in the performance of the Agreement, Consultant sh comply with applicable reporting requirements. E. Performance of DBE Subconsultants: DBE subconsultants listed by Consultant in its "DBE Race -Neutral Participation Listing" submitted at the time of proposal shall perform the work and supply the materials for which they are listed, unless Consultant has received prior written authorization from Commission to perform the work with other forces or to obtain the materials from other sources. Consultant shall provide written notification to Commission in a timely manner of any changes to its anticipated DBE participation. This notice should be provided prior to the commencement of that portion of the work. F. DBE Certification Status: If a listed DBE subconsultant is decertified during the life of this Agreement, the decertified subconsultant shall notify Consultant in writing with the date of decertification. If a non -DBE subconsultant becomes a certified DBE during the life of this Agreement, the DBE subconsultant shall notify Consultant in writing with the date of certification. Consultant shall Exhibit E-4 17336.00603\31171937.1 485 furnish the written documentation to Commission in a timely manner. Consultant shall include this requirement in all subcontracts. G. Consultant's Assurance Clause Regarding Non -Discrimination: In compliance with State and Federal anti -discrimination laws, Consultant shall affirm that it will not exclude or discriminate on the basis of race, color, national origin, or sex in consideration of contract award opportunities. Further, Consultant shall affirm that they will consider, and utilize subconsultants and vendors, in a manner consistent with non-discrimination objectives. H. Violations: Failure by the selected Consultant(s) to carry out these requirements shall be a material breach of the contract to be awarded pursuant to this RFP, which may result in the termination of the contract or such other remedy as the recipient deems appropriate, which may include, but is not limited to: (1) Withholding monthly progress payments; (2) Assessing sanctions; (3) Liquidated damages; an (4) Disqualifying the Co ant from future bidding as non -responsible. 49 C.F.R. § 26.13(b). I. Prompt Payment: Col ltant shall pay its subconsultants for satisfactory performance of their contracts no later than 30 dayf om receipt of e h payment Commission makes to the Consultant. 49 C.F.R. § 26.29(a), unless a shorter eriod 's pro ed in the contract. J. Compliance with DBE Requirements tamed in F Provisions: Consultant shall comply with all DBE reporting and other requirements c tain greement. 7. Incorporation of Federal Transit Admin. erms The preceding provisions include, in part, certain Sta ard Te s and nditions required by DOT, whether or not expressly set forth in the preceding contract provisions. All contractual provisions required by DOT, as set forth in FTA Circular 4220.1F are hereby inc to the contrary herein notwithstanding, all FTA mandated terms sh of a conflict with other provisions contained in this Agreement. act, fail to perform any act, or refuse to comply with any RCTC requests which would cause RCTC to be in violation of the FTA terms and conditions. orated ly reference. Anything e deemed to control in the event Consultant shall not perform any 8. Debarment and Suspension. The Consultant agrees to the following: (1) It will comply with the following requirements of 2 CFR Part 180, subpart C, as adopted and supplemented by U.S. DOT regulations at 2 CFR Part 1200. (2) It will not enter into any "covered transaction" (as that phrase is defined at 2 CFR §§ 180.220 and 1200.220) with any subconsultant whose principal is, suspended, debarred, or otherwise excluded from participating in covered transactions, except as authorized by— (i) U.S. DOT regulations, "Nonprocurement Suspension and Debarment," 2 CFR Part 1200; (ii) U.S. OMB regulatory guidance, Exhibit E-5 17336.00603\31171937.1 486 "Guidelines to Agencies on Governmentwide Debarment and Suspension (Nonprocurement)," 2 CFR Part 180; and (iii) Other applicable federal laws, regulations, or requirements regarding participation with debarred or suspended recipients or third party participants. (3) It will review the U.S. GSA "System for Award Management — Lists of Parties Excluded from Federal Procurement and Nonprocurement Programs," if required by U.S. DOT regulations, 2 CFR Part 1200. 9. ADA Access Requirements The Consultant shall comply with all applicable requirements of the Americans with Disabilities Act of 1990 (ADA), 42 USC Section 12101 et seq; Section 504 of the Rehabilitation Act of 1973, as amended, 29 USC Section 794; 49 USC Section 5301(d). 10. Fly America To the extent applicable to the Services, the Consultant agrees to comply with 49 U.S.C. 40118 (the "Fly America" Act) in accordance wih the General Services Administration's regulations at 41 CFR Part 301-10, which provide that recipients and sub recipients of Federal funds and their consultants are required to use U.S. Flag air carriers for .S. Government -financed international air travel and transportation of their personal effects or property, to the extent such service is available, unless travel by foreign air carrier is a matter of necessity, as defined by the Fly America Act. The Consultant shall submit, if a foreign air carrier was used, an appropriate certification or memorandum adequately explaining why service by a U.S. flag aid carrier was not available or why it was necessary to use a foreign air carrier and shall, in any event, provide a certificate of compliance with the Fly America requirements. The Consultant agrees to include the requirements of this section in all subcontracts that may involve international air transportation. 11. Cargo Preference - Use of United States la Vessels To the extent applicable to the Services, the Consultant agrees: 1. To use privately owned United States -Flag commercial els to ship at least 50 percent of the gross tonnage (computed separately for dry bulk c ers, dry cargo liners, and tankers) involved, whenever shipping any equipment, material, or commodities pursuant to the underlying contract to the extent such vessels are available at fair and reasonable rates for United States -Flag commercial vessels; 2. To furnish within 20 working days following the date of loading for shipments originating within the United States or within 30 working days following the date of leading for shipments originating outside the United States, a legible copy of a rated, "on -board" commercial ocean bill -of -lading in English for each shipment of cargo described in the preceding paragraph to the Division of National Cargo, Office of Market Development, Maritime Administration, Washington, DC 20590 and to the FTA recipient (through the Consultant in the case of a subconsultant's bill -of -lading.) Exhibit E-6 17336.00603\31171937.1 487 3. To include these requirements in all subcontracts issued pursuant to this contract when the subcontract may involve the transport of equipment, material, or commodities by ocean vessel. 11. Buy America — Not applicable. 12. Employment Provisions To the extent applicable to the Services, Consultant shall comply with the following: A. Equal Employment Opportunity — Not applicable. B. Copeland "Anti -Kickback" Act (18 U.S.C. 874 and 40 U.S.C. 276c) —Not applicable. C. Contact Work Hours and Safety Standards Act (40 U.S.C. 327-333) —Not applicable. D. Release of Retainage No retainage will be withheld by the RCTC from progress payments due Consultant. Retainage by Consultant or subconsultants is prohibited, a%d no retainage will be held by the prime consultant from progress due subconsultants y violation of this provision shall subject the violating Consultant or subconsultants to the penalties, sanctions, and other remedies specified in Section 7108.5 of the California Business and Professions Code. This requirement shall not be construed to limit or impair any contractual, administrative, or judicial remedies, otherwise available to Consultant or subconsultant in the event of a dispute involving late 6ayment or nonpayment by Consultant or deficient subconsultant performance, or noncompliala by a s bconsultant. 13. Termination for Convenience RCTC may terminate the Agreement for convenience accors . ce wit ' e terms of the Agreement. After such termination, the Consultant shall submit a final terminatio lem proposal to RCTC as directed. If the Consultant fails to submit a proposal within the tim- s wed, RCTC may determine, on the basis of information available, the amount, if any due the Con ant because of the termination and shall pay the amount determined. After the Consultant's proposal is received, RCTC and Consultant shall negotiate a fair and equitable settlement and the contract will be modified to reflect the negotiated agreement. If agreement cannot be reached, RCTC may issue a final determination and pay the amount determined. If the Consultant does not agree with this final determination or the determination resulting from the lack of timely submission of a proposal, the Consultant may appeal under the Disputes clause. 14. Administrative and Contractual Remedies on Breach; Termination for Cause a. The Consultant may be declared in breach of this Agreement ("Breach") if the Consultant fails to make delivery of the supplies or to perform the services within the time specified herein or any extension thereof; or if the Consultant fails to perform any of the other provisions of the contract, or so fails to make progress as to endanger performance of this contract in accordance with its terms. In case of any of the foregoing, RCTC shall notify the Consultant of the Breach, and the Consultant shall have Exhibit E-7 17336.00603\31171937.1 488 a period of ten (10) days (or such longer period as RCTC may authorize in writing) after receipt of notice from RCTC to cure the Breach. b. RCTC may, by written notice of termination to the Consultant specifying the effective date thereof, terminate the whole or any part of this contract, in the case of a Breach that is not cured within the timeframe set forth in (a) above ("Uncured Breach"). c. If the contract is terminated in whole or in part for an Uncured Breach, RCTC may procure upon such terms and in such manner as RCTC may deem appropriate, supplies or services similar to those so terminated, or may complete the services with its own forces. The Consultant shall be liable to RCTC for any excess costs for such similar supplies or services, and for any other costs incurred by RCTC as a result of the Uncured Breach. The Consultant shall continue the performance of this contract to the extent not terminated under the provisions of this clause. d. Except with respect to defaults of Subconsultants, the Consultant shall not be liable for any excess costs if the failure to perform the contract arises out of causes beyond the control and without the fault or negligence of onsultant. If the failure to perform is caused by the default of a Subconsultant, and if suc fault arises out of causes beyond the control of both the Consultant and the Subconsultant, an hout the fault or negligence of either of them, the Consultant shall not be liable for any excess cos for failure to perfd n, unless the supplies or services to be furnished by the Subconsultant were obtainable -from other sourc s in sufficient time to permit the Consultant to meet the required project completion sc dule. e. Payment for completed services o supplies delivered to and accepted by RCTC shall be at the contract price. RCTC may withhold fro r amounts otherwise due the Consultant for such completed services or supplies such sum as RCTC determines to be necessary to protect RCTC against loss because of outstanding liens of claims of former lien holders, eimburse RCTC for any other costs related to the Uncured Breach. f. If, after notice of termination of this contract i'cause, is dete ed for any reason that an Uncured Breach did not exist, the rights and obligations of the parties sh. s e same as if the notice of termination had been issued pursuant to the provisions for termin nvenience of RCTC. g. The rights and remedies of RCTC provided in this clau shall not be exclusive and are in addition to any other rights and remedies provided by law, equity or under this contract including, but not limited to, the right to specific performance. h. Notwithstanding the above, RCTC may, without providing an opportunity to cure, terminate the contract in accordance with the timeframe set forth in Section 17 of the contract, if RCTC determines such action is in its best interest based on the nature of the Breach. Such actions shall not limit any of RCTC's remedies set forth above. 16. Disputes a. Except as otherwise provided in this Agreement, any dispute concerning a question of fact arising under this Agreement which is not disposed of by supplemental agreement shall be decided by RCTC's Deputy Executive Director, who shall reduce the decision to writing and mail or otherwise furnish a copy thereof to the Consultant. The decision of the RCTC Deputy Executive Exhibit E-8 17336.00603\31171937.1 489 Director shall be final and conclusive unless, within thirty (30) days from the date of receipt of such copy, Consultant mails or otherwise furnishes to the RCTC Deputy Executive Director a written appeal addressed to RCTC's Executive Director. The decision of RCTC Executive Director or duly authorized representative for the determination of such appeals shall be final and conclusive. b. The provisions of this Paragraph shall not be pleaded in any suit involving a question of fact arising under this Agreement as limiting judicial review of any such decision to cases where fraud by such official or his representative or board is alleged, provided, however, that any such decision shall be final and conclusive unless the same is fraudulent or capricious or arbitrary or so grossly erroneous as necessarily to imply bad faith or is not supported by substantial evidence. In connection with any appeal proceeding under this Paragraph, the Consultant shall be afforded an opportunity to be heard and to offer evidence in support of its appeal. c. Pending final decision of a dispute hereunder, Consultant shall proceed diligently with the performance of this Agreement and in accordance with the decision of RCTC's Deputy Executive Director. This "Disputes" clause toes not preclude consideration of questions of law in connection with decisions provided for above. Nothin in this Agreement, however, shall be construed as making final the decision of any RCTC official or'representative on a question of law, which questions shall be settled in accordance 4C the laws q the State of California. 17. Lobbying See the Byrd Anti -Lobbying AniVdmenT, 31 U.S.C. 1352, as amended by the Lobbying Disclosure Act of 1995, P.L. 104-65 [to be codified at 2 U.S.C. § l 01, et seq.] - Consultants who apply or bid for an award of $100,000 or more shad file the certif ation required by 49 CFR part 20, "New Restrictions on Lobbying." Each tier certifies to the tier above that it will not and has not used Federal appropriated funds to pay any person or organization for inf cing or attempting to influence an officer or employee of any agency, a member of Congress, offic r employee of Congress, or an employee of a member of Congress in connection4cit . s staining a ederal contract, grant or any other award covered by 31 U.S.C. 1352. Each tier sha . lso disclose th ne of any registrant under the Lobbying Disclosure Act of 1995 who has made lobbying contacts on its ehalf with non -Federal funds with respect to that Federal contract, grant or award cove d by U.S.C. 1352. Such disclosures are forwarded from tier to tier up to the recipient. The eror shall complete and submit with its bid/proposal the attached Certification Regarding Lobb g, and if applicable, the Standard Form-LLL, "Disclosure Form to Report Lobbying." 18. Energy Conservation The Consultant agrees to comply with mandatory standards and policies relating to energy efficiency which are contained in the state energy conservation plan issued in compliance with the Energy Policy and Conservation Act. 19. Clean Water a. The Consultant agrees to comply with all applicable standards, orders or regulations issued pursuant to the Federal Water Pollution Control Act, as amended, 33 U.S.C. 1251 et seq. The Consultant agrees to report each violation to RCTC and understands and agrees that RCTC will, in Exhibit E-9 17336.00603\31171937.1 490 turn, report each violation as required to assure notification to FTA and the appropriate EPA Regional Office. d. The Consultant further agrees that: (1) It will not use any violating facilities; (2) It will report the use of facilities placed on or likely to be placed on the U.S. EPA "List of Violating Facilities;" (3) It will report violations of use of prohibited facilities to FTA; and (4) It will comply with the inspection and other requirements of the Clean Air Act, as amended, (42 U.S.C. §§ 7401 — 7671q); and the Federal Water Pollution Control Act as amended, (33 U.S.C. §§ 1251-1387). The Consultant also agrees to include these requirements in each subcontract exceeding $150,000 financed in whole or in part with Federal assistance provided by FTA. 20. Clean Air a. The Consultant agrees to comply with all applicable standards, orders or regulations issued pursuant to the Clean Air'Act, as amended, 42 U.S.C. §§ 7401 et seq. The Consultant agrees to report each violation to RCTC and understands grees that RCTC will, in turn, report each violation as required to assure notification to FT nd th propriate EPA Regional Office. b. The Consultant fuVer agrees that: (1) It will not use any violating facilitie (2) It will report the use of facilities place be pla ed on the U.S. EPA "List of Violating Facilities;" (3) It will report violations of use of prohibited fac (4) It will comply with the inspection and other r ir= • f the an Air Act, as amended, (42 U.S.C. §§ 7401 — 7671q); and the Federal Water Po tion • rol A amended, (33 U.S.C. §§ 1251-1387). c. The Consultant also agrees to include these requireme each subcontract exceeding $150,000 financed in whole or in part with Federal assistance p ided by FTA. 21. Recycled Products Recovered Materials - The Consultant agrees to comply with all the requirements of Section 6002 of the Resource Conservation and Recovery Act (RCRA), as amended (42 U.S.C. 6962), including but not limited to the regulatory provisions of 40 CFR Part 247, and Executive Order 12873, as they apply to the procurement of the items designated in Subpart B of 40 CFR Part 247. 21. SPECIAL PROVISION FOR PROMOTING COVID-19 SAFETY Section 49. Centers for Disease Control and Prevention Order on Requirements for Persons to Wear Masks While on Conveyances and at Transportation Hubs. Exhibit E-10 17336.00603\31171937.1 491 (a) Compliance with CDC Mask Order. The Centers for Disease Control and Prevention ("CDC") Order of January 29, 2021, titled Requirement for Persons to Wear Masks While on Conveyances and at Transportation Hubs ("CDC Mask Order"), applies to this Agreement. One of the objectives of the CDC Mask Order is "[m]aintaining a safe and operating transportation system." Consultant agrees that it will comply, and will require all subconsultants to comply, with the CDC Mask Order, to the extent the CDC Mask Order remains in effect. (b) Enforcement for non-compliance. Consultant agrees that FTA and RCTC may take enforcement action for non-compliance with the CDC Mask Order, to the extent the CDC Mask Order remains in effect, including: (1) enforcement actions authorized by 49 U.S.C. § 5329(g); (2) referring Consultant to the CDC or other Federal authority for enforcement action; (3) enforcement actions authorized by 2 CFR §§ 200.339 — .340; and (4) any other enforcement action authorized by Federal law or regulation. 22. Safe Operation of Motor Vehicles Pursuant to Federal Executive Girder No. 13043, "Increasing Seat Belt Use in the United States," April 16, 1997, 23 U.S.C. Section 402 note, FTA encourages each third party consultant to adopt and promote on-the-job seat belt use policies and programs for its employees and other personnel that operate company owned, rented, or personally operated vehicles, and to include this provision in each third party subcontract involving the project. a. The Consultant is encouraged to adopt and promote on-the-job seat belt use policies and programs for its employees and other personnel that operate company -owned vehicles, company -rented vehicles, or personally operated vehicles. The terms "compan - ed" and "company -leased" refer to vehicles owned or leased either by the Consultai4t or RCTC. b. The Consultant agrees to adopt and enforce wo place safety policies to decrease crashes caused by distracted drivers, including policies to ban text rryrting while using an electronic device supplied by an employer, and driving a vehicle the drive wns or rents, a vehicle Contactor owns, leases, or rents, or a privately -owned vehicle when on official busing in connection with the work performed under this contract. 23. Notification to FTA. a. If a current or prospective legal matter that may affect the Feder a overnment emerges, the Consultant must promptly notify the FTA Chief Counsel and FTA Regional Counsel for the Region in which this Agreement is being performed. The types of legal matters that require notification include, but are not limited to, a major dispute, breach, default, litigation, or naming the Federal Government as a party to litigation or a legal disagreement in any forum for any reason. b. Matters that may affect the Federal Government include, but are not limited to, the Federal Government's interests in the Award, the accompanying Underlying Agreement, and any Amendments thereto, or the Federal Government's administration or enforcement of federal laws, regulations, and requirements. c. Additional Notice to U.S. DOT Inspector General. The Consultant must promptly notify the U.S. DOT Inspector General in addition to the FTA Chief Counsel or Regional Counsel for the Region in which the Commission located, if Consultant has knowledge of potential fraud, waste, or abuse occurring on a Project receiving assistance from FTA. The notification provision applies if a person has or may have submitted a false claim under the False Claims Act, 31 U.S.C. § 3729, et seq., or has or may have committed a criminal or civil Exhibit E-11 17336.00603\31171937.1 492 violation of law pertaining to such matters as fraud, conflict of interest, bid rigging, misappropriation or embezzlement, bribery, gratuity, or similar misconduct involving federal assistance. Knowledge, as used in this paragraph, includes, but is not limited to, knowledge of a criminal or civil investigation by a Federal, state, or local law enforcement or other investigative agency, a criminal indictment or civil complaint, or probable cause that could support a criminal indictment, or any other credible information in the possession of the Consultant. In this paragraph, "promptly" means to refer information without delay and without change. 24. Prohibition on Certain Telecommunications and Video Surveillance Services or Equipment Consultant shall not contract (or extend or renew a contract) to procure or obtain equipment, services, or systems that uses covered telecommunications equipment or services as a substantial or essential component of any system, or as critical technology as part of any system funded under this Contract. As described in Public Law 115-232, section 889, covered telecommunications equipment is telecommunications equipment produced by Huawei Technologies Company or ZTE Corporation (or any subsidiary or affiliate of such entities). a. For the purpose of public safe ecurity of government facilities, physical security surveillance of critical infrastructure, and other natio :ty purposes, video surveillance and telecommunications equipment produced by Hytera Co ations dbrporation, Hangzhou Hikvision Digital Technology Company, or Dahua Technology Co (or any sl idiary or affiliate of such entities). b. Telecommunications or c. Telecommunications or video s> lar Secretary of Defense, in consultation with the, Bureau of Investigation, reasonably believes the government of a covered foreign coun ces provided by such entities or using such equipment. ent or services produced or provided by an entity that the or of the National Intelligence or the Director of the Federal ed or controlled by, or otherwise connected to, Exhibit E-12 17336.00603\31171937.1 493 EXHIBIT "F" — LOBBYING ACTIVITIES DISCLOSURE Exhibit F-1 17336.00603\31171937.1 494 Local Assistance Procedures Manual EXHBIT 10-Q Disclosure of Lobbying Activities GC) EXHIBIT 10-Q DISCLOSURE OF LOBBYING ACTIVITIES COMPLETE THIS FORM TO DISCLOSE LOBBYING ACTIVI PIES PURSUANT TO 31 U.S.C. 1352 1. Type of Federal Action: a. contract b. grant c. cooperative agreement d. loan e. loan guarantee f. loan insurance 2. Status of Federal Action: 3. Report Type: ❑ a bid/offer/application ❑ a. initial b. initial award b. material change c. post -award 4. Name and Address of Reporting Entity Prime nSubawardee Tier , if known For Material Change Only: year quarter date of last report 5. If Reporting Entity in No. 4 is Subawarde Enter Name and Address of Prime: Congressional District, if Congressional District 6. Federal Department/ y: 7. Federal Prog iflekescription: ludrber, if applicable 8. Federal Action � and Amount, if known: e, �GS� O�SG 10. Name and Address of Lo (If individual, last name, NG • ``to'` (attach C vitiation Sh- - ecessary) ,1 \� ouount of Payment (check all that ap i 14 Type of Payment (check all that apply) �V pi actual plann . ainer e fee on 13. Form of Payment (check all that apply): ea. cash , conting n e b. in -kind; specify: nature e -rred Value f. other, specify 15. Brief Description of Services Performed or to be performed and Date(s) of e, in ing officer(s), employee(s), or member(s) contacted, for Payment Indicated i i i 12: 11. Individuals Performing Services (including address if different from No. 10) (last name, first name, MI) 16. Continuation Sheet(s) attached: (attach Continuation Sheet(s) if necess Yes n No 17. Information requested through this form is authorized by Title 31 U.S.C. Section 1352. This disclosure of lobbying reliance was placed by the tier above when his transaction was made or entered into. This disclosure is required pursuant to 31 U.S.C. 1352. This information will be reported to Congress semiannually and will be available for public inspection. Any person who fails to file the required disclosure shall be subject to a civil penalty of not less than $10,000 and not more than $100,000 for each such failure. Federal Use Only: Print Name: Richard Galvin Title: Vice President Telephone No.: 310-792-2690, x102 Date: 7/14/2022 Authorized for Local Reproduction Standard Form - LLL Standard Form LLL Rev. 04-28-06 Distribution: Orig- Local Agency Project Files LPP 13-01 Page 1 May 8, 2013 RCTC I ON -CALL ENVIRONMENTAL CONSULTING SERVICES 495 GPA CONSULTING 1 53 ATTACHMENT 2 Agreement No. 22-31-103-00 PROFESSIONAL SERVICES AGREEMENT WITH PROPOSITION 1 B, FTA AND FHWA FUNDING ASSISTANCE RIVERSIDE COUNTY TRANSPORTATION COMMISSION AGREEMENT WITH HNTB CORPORATION FOR ON -CALL ENVIRONMENTAL CONSULTING SERVICES Parties and Date. This Agreement is made and entered into this day of , 2022, by and between the RIVERSIDE COUNTY TRANSPORTATION COMMISSION ("the Commission") and HNTB CORPORATION ("Consultant"), a Corporation. The Commission and Consultant are sometimes referred to herein individually as "Party", and collectively as the "Parties". %10IF Recitals. A. On November 8, 1988 the Voters of Riverside County approved Measure A authorizing the collection of a one-half percent (1/2 %) retail transactions and use tax (the "tax") to fund transportation programs and improvements within the County of Riverside, and adopting the Riverside County Transportation Improvement Plan (the "Plan"). B. Pursuant to Public Utility Code Sections 240000 et seq., the Commission is authorized to allocate the proceeds of the Tax in furtherance of the Plan. C. On November 5, 2002, the voters of Riverside County approved an extension of the Measure A tax for an additional thirty (30) years for the continued funding of transportation and improvements within the County of Riverside. D. A source of funding for payment for on -call professional consulting services provided under this Agreement may be State Proposition 1B funds, Federal Highway Administration Funds ("FHWA") administered by the California Department of Transportation ("Caltrans"), and/or funds from the Federal Transit Administration ("FTA"). E. Consultant desires to perform and assume responsibility for the provision of certain on -call environmental consulting services in the County of Riverside, California. Services shall be provided on the terms and conditions set forth in this Agreement and in the task order(s) to be issued pursuant to this Agreement and executed by the Commission and the Consultant ("Task Order"). Consultant represents that it is experienced in providing such services to public clients, is licensed in the State of California (if necessary), and is familiar with the plans of the Commission. 496 F. The Commission desires to engage Consultant to render such services on an on -call basis. Services shall be ordered by Task Order(s) to be issued pursuant to this Agreement for future projects as set forth herein and in each Task Order (each such project shall be designated a "Project" under this Agreement). Terms. 1. General Scope of Services. Consultant shall furnish all technical and professional services, including labor, material, equipment, transportation, supervision and expertise, and incidental and customary work necessary to fully and adequately supply the on -call environmental consulting services for the Projects ("Services"). The Services are generally described in Exhibit "A" attached hereto and incorporated herein by reference. The Services shall be more particularly described in the individual Task Orders issued by the Commission's Executive Director or designee. No Services shall be performed unless authorized by a fully exec in accordance with, this and incorporated her and regulations. ask Order. All Services shall be subject to, and performed t, the relevant Task Order, the exhibits attached hereto ce, and all applicable local, state and federal laws, rules 2. Commenc The Consultant shall commence work upon receipt of a written "Notice to •c- or imited Notice to Proceed" from Commission. 3. Pre -Award Audit. As - sult of t - •eral funding for this Project, and to the extent Caltrans procedures apply c• - • therewith, issuance of a "Notice to Proceed" may be contingent upon c d app oval of a pre -award audit. Any questions raised during the pre -award audit be r d before the Commission will consider approval of this Agreement. The f= -ral pro d under this Agreement is contingent on meeting all Federal requireme s d be drawn, thereby entitling the Commission to terminate this Agreement, i e pro dures not completed. The Consultant's files shall be maintained in a manner to facilitate F and State process reviews. In addition, the applicable federal agency, or Caltra ting behalf of a federal agency, may require that prior to performance of work for which Federal reimbursement is requested and provided, that said federa gency or Caltrans must give to Commission an "Authorization to Proceed". 4. Audit Procedures. Consultant and subconsultant contracts, including cost proposals and ICR, are subject to audits or reviews such as, but not limited to, a contract audit, an incurred cost audit, an Independent Cost Review (ICR) Audit, or a CPA ICR audit work paper review. If selected for audit or review, this Agreement, Consultant's cost proposal and ICR and related work papers, if applicable, will be reviewed to verify compliance with 48 CFR, Part 31 and other related laws and regulations. In the instances of a CPA ICR audit work paper review it is Consultant's responsibility to ensure federal, state, or local government officials are allowed full access to the CPA's work papers including making copies as necessary. This Agreement, Consultant's cost proposal, and ICR shall be adjusted by Consultant and approved by the Commission's contract manager to conform to the audit or review recommendations. Consultant agrees that individual terms of costs identified in the audit report shall be incorporated into this Agreement by this 497 reference if directed by Commission at its sole discretion. Refusal by Consultant to incorporate audit or review recommendations, or to ensure that the federal, state or local governments have access to CPA work papers, will be considered a breach of the Agreement terms and cause for termination of this Agreement and disallowance of prior reimbursed costs. Additional audit provisions applicable to this Agreement are set forth in Sections 23 and 24 of this Agreement. 5. Term. 5.1 This Agreement shall go into effect on the date first set forth above, contingent upon approval by Commission, and Consultant shall commence work after notification to proceed by Commission's Contract Administrator. This Agreement shall end three years from the date set forth above, unless extended by contract amendment. The Commission shall have the option to extend the term for one, two-year option. In no case shall the term of this Agr t-nt exceed five (5) years. All Task Order work should be completed within the t 5.2 not binding on Com Commission. ad : ised that any recommendation for contract award is reement is fully executed and approved by the 5.3 This A• eme unless earlier terminated as provi within the term of this Agreement, deadlines. All applicable indemni effect following the termination of this Agree remain in effect until the date set forth above, herein. ,.nsultant shall complete the Services any other established schedules and ons o. this Agreement shall remain in 6. Commission's Contract Admini a Co p ission hereby designates the Commission's Executive Director, or his her igne= , o act as its Contract Administrator for the performance of this Agreement (" ission's Contract Administrator"). Commission's Contract Administrator shall th..:'.uthority to act on behalf of the Commission for all purposes under this Agree. °' t. Commission's Contract Administrator shall also review and give approval, as nee• •, to the details of Consultant's work as it progresses. Consultant shall not accept direction or orders from any person other than the Commission's Contract Administrator or his or her designee. 7. Consultant's Representative. Consultant hereby designates Elizabeth Suh to act as its Representative for the performance of this Agreement ("Consultant's Representative"). Consultant's Representative shall have full authority to act on behalf of Consultant for all purposes under this Agreement. The Consultant's Representative shall supervise and direct the Services, using his or her professional skill and attention, and shall be responsible for all means, methods, techniques, sequences and procedures and for the satisfactory coordination of all portions of the Services under this Agreement. Consultant shall work closely and cooperate fully with Commission's Contract Administrator and any other agencies which may have jurisdiction over, or an interest in, the Services. Consultant's Representative shall be available to the Commission staff at all reasonable 498 times. Any substitution in Consultant's Representative shall be approved in writing by Commission's Contract Administrator. 8. Substitution of Key Personnel. Consultant has represented to the Commission that certain key personnel will perform and coordinate the Services under this Agreement. Should one or more of such personnel become unavailable, Consultant may substitute other personnel of at least equal competence upon written approval by the Commission. In the event that the Commission and Consultant cannot agree as to the substitution of the key personnel, the Commission shall be entitled to terminate this Agreement for cause, pursuant to the provisions herein. The key personnel for performance of this Agreement are: Elizabeth Suh, Kelly Lumen, James Santos, and Tami Podesta, or as otherwise identified in the Task Order. 9. Standard of Care; Licenses. Consultant represents and maintains that it is skilled in the professional calling necessary to perform all Services, duties and obligations required by this Agreement to fully and adequately complete the Project. Consultant shall perform the Services and duties in conformance to and consistent with the standards generally recognized as being employed by professionals in the same discipline in the State of California. Consultant warrants that all employees and subcontractors shall have sufficient skill and experience to perform the Services assigned to them. Consultant further represents and warrants to the Commission that its employees and subcontractors have all licenses, permits, qualifications and approvals of whatever nature that are legally required to perform the Services, and that such licenses and approvals shall be maintained throughout the term of this Agreement. Consultant shall perform, at its own cost and expense and without reimbursement from the Commission, any services necessary to correct errors or omissions which are caused by the Consultant's failure to comply with the standard of care provided for herein, and shall be fully responsible to the Commission for all damages and other liabilities provided for in the indemnification provisions of this Agreement arising from the Consultant's errors and omissions. Any employee of Consultant or its sub -consultants who is determined by the Commission to be uncooperative, incompetent, a threat to the adequate or timely completion of the Project, a threat to the safety of persons or property, or any employee who fails or refuses to perform the Services in a manner acceptable to the Commission, shall be promptly removed from the Project by the Consultant and shall not be re-employed to perform any of the Services or to work on the Project. 10. Independent Contractor. The Services shall be performed by Consultant or under its supervision. Consultant will determine the means, methods and details of performing the Services subject to the requirements of this Agreement. Commission retains Consultant on an independent contractor basis and not as an employee, agent or representative of the Commission. Consultant retains the right to perform similar or different services for others during the term of this Agreement. Any additional personnel performing the Services under this Agreement on behalf of Consultant shall at all times be under Consultant's exclusive direction and control. Consultant shall pay all wages, salaries and other amounts due such personnel in connection with their performance of Services and as required by law. Consultant shall be responsible for all reports and obligations respecting such personnel, including but not limited to, social security taxes, income tax 499 withholdings, unemployment insurance, disability insurance, and workers' compensation insurance. 11. Task Orders; Commencement of Services; Schedule of Services. Consultant shall commence Services under a Task Order within five (5) days of receiving a fully executed Task Order from the Commission. Each Task Order shall identify the funding source(s) to be used to fund the Services under the relevant Task Order, and Consultant shall comply with the requirements specified herein, and in the attached exhibits, applicable to the identified funding source(s). Consultant shall perform the Services expeditiously, within the term of this Agreement, and in accordance with any schedule of Services set forth in a Task Order ("Schedule"). Consultant represents that it has the professional and technical personnel to perform the Services in conformance with such conditions. In order to facilitate Consultant's conformance submittals in a timely Consultant shall prov Schedule of Servic he Schedule, the Commission shall respond to Consultant's pon request of Commission's Contract Administrator, tailed schedule of anticipated performance to meet the 11.1 Mo• io dule. Consultant shall regularly report to the Commission, through corres�, d - • progress reports, its progress in providing required Services within the sched me periods. Commission shall be promptly informed of all anticipated delays. I e event onsultant determines that a schedule modification is necessary, Consults sh- submit a revised Schedule of Services for approval by Commission's Contra.' • • - ator. 11.2 Trend Meetings. Cons I, ; nt II co ,h ct trend meetings with the Commission's Contract Administrator and o e n ted • . ;es, as requested by the Commission, on a bi-weekly basis or as may mutu' '' sche ed by the Parties at a standard day and time. These trend meetings will encomp 4 .. used and informal discussions concerning scope, schedule, and current progre •f Se ices, relevant cost issues, and future Project objectives. Consultant shall be •onsible for the preparation and distribution of meeting agendas to be received '. the Commission and other attendees no later than three (3) working days prior to the meeting. 11.3 Progress Reports. As part of its monthly invoice, Consultant shall submit a progress report, in a form determined by the Commission, which will indicate the progress achieved during the previous month in relation to the Schedule of Services. Submission of such progress report by Consultant shall be a condition precedent to receipt of payment from the Commission for each monthly invoice submitted. 12. Delay in Performance. 12.1 Excusable Delays. Should Consultant be delayed or prevented from the timely performance of any act or Services required by the terms of the Agreement by reason of acts of God or of the public enemy, acts or omissions of the Commission or other governmental agencies in either their sovereign or contractual capacities, fires, 500 floods, epidemics, quarantine restrictions, strikes, freight embargoes or unusually severe weather, performance of such act shall be excused for the period of such delay. 12.2 Written Notice. If Consultant believes it is entitled to an extension of time due to conditions set forth in subsection 12.1, Consultant shall provide written notice to the Commission within seven (7) working days from the time Consultant knows, or reasonably should have known, that performance of the Services will be delayed due to such conditions. Failure of Consultant to provide such timely notice shall constitute a waiver by Consultant of any right to an excusable delay in time of performance. 12.3 Mutual Agreement. Performance of any Services under this Agreement may be delayed upon mutual agreement of the Parties. Upon such agreement, Consultant's Schedule of Services shall be extended as necessary by the Commission. Consultant shall take all reasonable steps to minimize delay in completion, and additional costs, res • from any such extension. 13. Prelimi Revie •f Work. All reports, working papers, and similar work products prepared ubmissi• in t - course of providing Services under this Agreement shall be submitted t• •e C• i . Contract Administrator in draft form, and the Commission may requir- io► .f su • rafts prior to formal submission and approval. In the event plans and desig . r- be veloped as part of the Project, final detailed plans and designs shall be c ., Inge obtaining environmental clearance as may be required in connection with Federa unding. - e event that Commission's Contract Administrator, in his or her sole disc io • '' es the formally submitted work product to be not in accordance with the s . - : re es blished under this Agreement, Commission's Contract Administrator may re e C nt to revise and resubmit the work at no cost to the Commission. 14. Appearance at Hearings. If a wherltrequir';<,., by the Commission, Consultant shall render assistance at public hearings or other a stings related to the Project or necessary to the performance of the Services. How r, C• `'sultant shall not be required to, and will not, render any decision, interpretatio ecommendation regarding questions of a legal nature or which may be construed as ° onstituting a legal opinion. 15. Opportunity to Cure; Inspection of Work. Commission may provide Consultant an opportunity to cure, at Consultant's expense, all errors and omissions which may be disclosed during Project implementation. Should Consultant fail to make such correction in a timely manner, such correction may be made by the Commission, and the cost thereof charged to Consultant. Consultant shall allow the Commission's Contract Administrator, Caltrans and FHWA to inspect or review Consultant's work in progress at any reasonable time. 16. Claims Filed by Contractor. 16.1 If claims are filed by the Commission's contractor for the Project ("Contractor") relating to work performed by Consultant's personnel, and additional information or assistance from the Consultant's personnel is required by the Commission 501 in order to evaluate or defend against such claims; Consultant agrees to make reasonable efforts to make its personnel available for consultation with the Commission's construction contract administration and legal staff and for testimony, if necessary, at depositions and at trial or arbitration proceedings. 16.2 Consultant's personnel that the Commission considers essential to assist in defending against Contractor claims will be made available on reasonable notice from the Commission. Consultation or testimony will be reimbursed at the same rates, including travel costs that are being paid for the Consultant's personnel services under this Agreement. 16.3 Services of the Consultant's personnel and other support staff in connection with Contractor claims will be performed pursuant to a written contract amendment, if necessary, extending the termination date of this Agreement in order to finally resolve the claims 16.4 ing co ined in this Section shall be construed to in any way limit Consultant's inde ication . gat.ns contained in Section 29. In the case of any conflict between this -ctio • 29, Section 29 shall govern. This Section is not intended to obligate t .mr ion reimburse Consultant for time spent by its personnel related to Contrac hich Consultant is required to indemnify and defend the Commission pur ant t. .n 29 of this Agreement. 17. Final Acceptance. U. de - •n by the Commission that Consultant has satisfactorily completed the Se • d and r this Agreement and within the term set forth herein the Commission sha e C ant a written Notice of Final Acceptance. Upon receipt of such notice o an all incur no further costs hereunder, unless otherwise specified in the •t' o al A stance. Consultant may request issuance of a Notice of Final Acceptan when, its o•` ,'.n, it has satisfactorily completed all Services required under the terms of this Agreemer; he event copyrights are permitted under this Agreement, then in connection with , .era nding, it is hereby acknowledged and agreed that the United States Departm- •f Transportation shall have the royalty -free non-exclusive and irrevocable right to repr uce, publish, or otherwise use, and to authorize others to use, the work for governmental purposes. 18. Laws and Regulations. Consultant shall keep itself fully informed of and in compliance with all local, state and federal laws, rules and regulations in any manner affecting the performance of the Project or the Services, including all Cal/OSHA requirements, and shall give all notices required by law. For example, and not by way of limitation, Consultant shall keep itself fully informed of and in compliance with all implementing regulations, design standards, specifications, previous commitments that must be incorporated in the design of the Project, and administrative controls including those of the United States Department of Transportation. Compliance with Federal procedures may include completion of the applicable environmental documents and approved by the United States Department of Transportation. For example, and not by way of limitation, a signed Categorical Exclusion, Finding of No Significant Impact, or published Record of Decision may be required to be approved and/or completed by the United States 502 Department of Transportation. For Consultant shall be liable for all violations of such laws and regulations in connection with Services. If the Consultant performs any work knowing it to be contrary to such laws, rules and regulations and without giving written notice to the Commission, Consultant shall be solely responsible for all costs arising therefrom. Consultant shall defend, indemnify and hold Commission, its officials, directors, officers, employees and agents free and harmless, pursuant to the indemnification provisions of this Agreement, from any claim or liability arising out of any failure or alleged failure to comply with such laws, rules or regulations. 19. Fees and Payment. 19.1 The method of payment for this Agreement will be based on actual cost plus a fixed fee. Commission shall reimburse Consultant for actual costs (including labor costs, employee benefits, travel, equipment rental costs, overhead and other direct costs) incurred by Cons in performance of the Services. Consultant shall not be reimbursed for actual _" s exceed the estimated wage rates, employee benefits, travel, equipment rep overh - d, and other estimated costs set forth in the approved Consultant cost • +osal att. ed ereto as Exhibit "B" and incorporated herein by reference, or any co :' o• • in as part of a Task Order ("Cost Proposal") unless additional reimbursem by written amendment. The overhead rates included in the attached Ex all fixed for the term of the Master Agreement, and shall not be subject to a• stme , -ss required by the applicable funding source. In In no event, shall Consultant be mburse verhead costs at a rate that exceeds Commission's approved overhea• :te ► n the Cost Proposal. In the event that Commission determines that a cha • - .ervic from that specified in the Cost Proposal, this Agreement or any Task Orde re he Agreement time or actual costs reimbursable by Commission shal •e ste written amendment to accommodate the changed work. The maxi of ost a •ecified in Section 19.8 shall not be exceeded, unless authorized by a ritten a endm 19.2 In addition to the allowable incurred c• Co mission shall pay Consultant a fixed fee to be set forth in each Task Order " ed Fee"). The Fixed Fee is nonadjustable for each Task Order, except in the even of a significant change in the Scope of Services, and such adjustment is made by written amendment. 19.3 Reimbursement for transportation and subsistence costs shall not exceed the rates specified in the approved Cost Proposal. In addition, payments to Consultant for travel and subsistence expenses claimed for reimbursement or applied as local match credit shall not exceed rates authorized to be paid exempt non -represented State employees under current State Department of Personnel Administration (DPA) rules, unless otherwise authorized by Commission. If the rates invoiced are in excess of those authorized DPA rates, and Commission has not otherwise approved said rates, then Consultant is responsible for the cost difference and any overpayments shall be reimbursed to the Commission on demand. 19.4 When milestone cost estimates are included in the approved Cost Proposal for a Task Order, Consultant shall obtain prior written approval for a revised 503 milestone cost estimate from the Contract Administrator before exceeding such cost estimate. 19.5 Progress payments shall be made monthly in arrears based on Services provided and allowable incurred costs. A pro rata portion of the Fixed Fee shall be included in the monthly progress payments. If Consultant fails to submit the required deliverable items according to the schedule set forth in the Scope of Services, Commission shall have the right to delay payment or terminate this Agreement in accordance with the provisions of Section 21, Termination. 19.6 No payment shall be made prior to approval of any Services, nor for any Services performed prior to approval of this Agreement. 19.7 Consultant shall be reimbursed, as promptly as fiscal procedures will permit upon receipt by triplicate. Invoices shall of work for which C milestone and eac approved Cost Prop invoice must contain equipment purchased under final invoice should be subm `°' ed wi work. Invoices shall be mailed to address: mission's Contract Administrator of itemized invoices in itted no later than 45 calendar days after the performance illing. Invoices shall detail the work performed on each lic. • le. Invoices shall follow the format stipulated for the ce this Agreement number and project title. Final all credits due Commission including any Purchase provisions of this Agreement. The alendar days after completion of Consultant's mmissioj ontract Administrator at the following Riverside County Transportation Commissi Attention: Accounts Payable P.O. 12008 Riverside, CA 92502 19.8 The total amount payable by Commissi► Ind ng the Fixed Fee, shall not exceed the amount set forth in each Task Order 19.9 Commission has or will enter into four (4) task order contracts for performance of the Scope of Services identified in Exhibit "A", including this Agreement ("Environmental Services Task Order Contracts"). The other Environmental Services Task Order Contracts are GPA Consulting, ICF Jones & Stokes, Inc., and Stantec Consulting Services, Inc. The total amount payable by Commission for the Environmental Services Task Order Contracts shall not exceed a cumulative maximum total value of Three Million Dollars ($3,000,000) ("NTE Sum"). It is understood and agreed that there is no guarantee, either expressed or implied that this dollar amount will be authorized under the Environmental Services Task Order Contracts through Task Orders. Each time a Task Order is awarded under any of the Environmental Services Task Order Contracts, Commission must send written notification to Consultant and each of the other consultants entering into the Environmental Services Task Order Contracts. The notice must identify the total funds allocated under issued Task Orders, and the remaining unencumbered amount of the NTE Sum. Consultant acknowledges and agrees that Commission must not 504 pay any amount under this Agreement that would exceed the NTE Sum, and Consultant must not enter into a Task Order that exceeds the NTE Sum. 19.10 Salary increases shall be reimbursable if the new salary is within the salary range identified in the approved Cost Proposal and is approved by Commission's Contract Administrator. For personnel subject to prevailing wage rates as described in the California Labor Code, all salary increases, which are the direct result of changes in the prevailing wage rates are reimbursable. 19.11 Consultant shall not be reimbursed for any expenses unless authorized in writing by the Commission's Contract Administrator. 19.12 All subcontracts in excess of $25,000 shall contain the above provisions. 20.1 under this Agreement decided by a committee cons Capital Projects, who may c 20.2 Not later than Agreement, Consultant may reque unresolved claims or disputes, other t writing. than audit, concerning a question of fact arising of by mutual agreement of the Parties shall be 's Contract Administrator and the Director of or verbal information submitted by Consultant. completion of all Services under this e Commission's Executive Director of he r- ' -st for review will be submitted in 20.3 Neither the pendency of disp. -, no committee will excuse Consultant from full and timely performan terms of this Agreement. 21. Termination. consideration by the accordance with the 21.1 Commission reserves the right to terminate this Agreement upon thirty (30) calendar days written notice to Consultant, for any or no reason, with the reasons for termination stated in the notice. Commission may terminate Services under a Task Order, at any time, for any or no reason, with the effective date of termination to be specified in the notice of termination of Task Order. 21.2 Commission may terminate this Agreement with Consultant should Consultant fail to perform the covenants herein contained at the time and in the manner herein provided. In the event of such termination, Commission may proceed with the Services in any manner deemed proper by Commission. If Commission terminates this Agreement with Consultant, Commission shall pay Consultant the sum due to Consultant under this Agreement for Services completed and accepted prior to termination, unless the cost of completion to Commission exceeds the funds remaining in the Agreement. In such 505 case, the overage shall be deducted from any sum due Consultant under this Agreement and the balance, if any, shall be paid to Consultant upon demand. 21.3 In addition to the above, payment upon termination shall include a prorated amount of profit, if applicable, but no amount shall be paid for anticipated profit on unperformed Services. Consultant shall provide documentation deemed adequate by Commission's Contract Administrator to show the Services actually completed by Consultant prior to the effective date of termination. This Agreement shall terminate on the effective date of the Notice of Termination 21.4 Upon receipt of the written Notice of Termination, Consultant shall discontinue all affected Services as directed in the Notice or as otherwise provided herein, and deliver to the Commission all Documents and Data, as defined in this Agreement, as may have been prepared or accumulated by Consultant in performance of the Services, whether completed or in progress. 21.5 In addition to the above, Consultant shall be liable to the Commission for any reasonable additional costs incurred by the Commission to revise work for which the Commission has compensated Consultant under this Agreement, but which the Commission has determined in its sole discretion needs to be revised, in part or whole, to complete the Project because it did not meet the standard of care established in this Agreement. Termination of this Agreement for cause may be considered by the Commission in determining whether to enter into future agreements with Consultant. 21.6 The rights and remedies of the Parties provided in this Section are in addition to any other rights and remedies provided by law or under this Agreement. 21.7 Consultant, in executing this Agreement, shall be deemed to have waived any and all claims for damages which may otherwise arise from the Commission's termination of this Agreement, for convenience or cause, as provided in this Section. 21.8 Consultant may not terminate this Agreement except for cause. 22. Cost Principles and Administrative Requirements. 22.1 Consultant agrees that the Contract Cost Principles and Procedures, 48 CFR, Federal Acquisition Regulations System, Chapter 1, Part 31.000 et seq., shall be used to determine the cost allowability of individual items. 22.2 Consultant also agrees to comply with federal procedures in accordance with 2 CFR, Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. 22.3 Any costs for which payment has been made to CONSULTANT that are determined by subsequent audit to be unallowable under 2 CFR, Part 200 and 48 CFR, Federal Acquisition Regulations System, Chapter 1, Part 31.000 et seq., are subject to repayment by Consultant to Commission. 506 22.4 All subcontracts in excess of $25,000 shall contain the above provisions. 23. Retention of Records/Audit. For the purpose of determining compliance with, as applicable, 2 CFR Part 200, Public Contract Code 10115, et seq. and Title 21, California Code of Regulations, Chapter 21, Section 2500 et seq., when applicable and other matters connected with the performance of this Agreement pursuant to Government Code 8546.7; Consultant, subconsultants, and Commission shall maintain and make available for inspection all books, documents, papers, accounting records, and other evidence pertaining to the performance of this Agreement, including but not limited to, the costs of administering this Agreement. All parties shall make such materials available at their respective offices at all reasonable times during the Agreement period and for three years from the date of final payment under this Agreement. The State, State Auditor, Commission, FHWA, or a duly authorized representative of the State or Federal Government shall have a to any books, records, and documents of Consultant and it's certified public acco nts 'A) work papers that are pertinent to this Agreement and indirect cost rates (1 for and examinations, excerpts, and transactions, and copies thereof shall be fur if req .te• ubcontracts in excess of $25,000 shall contain this provision. 23.1 Accounti nsultant and its subcontractors shall establish and maintain an accounting s' stem cords that properly accumulate and segregate expenditures by line item for the Se ices. T - ounting system of Consultant and its subcontractors shall conform to Ge al -p • Accounting Principles (GAAP), enable the determination of incurred costs at of c pletion, and provide support for reimbursement payment vouchers or invoice 24. Audit Review Procedures. 24.1 Any dispute concerning a question of fact post audit of this Agreement that is not disposed of by agre Commission's Chief Financial Officer. under an interim or nt, s all be reviewed by 24.2 Not later than 30 days after issuance of the final audit report, Consultant may request a review by Commission's Chief Financial Officer of unresolved audit issues. The request for review shall be submitted in writing. 24.3 Neither the pendency of a dispute nor its consideration by Commission shall excuse Consultant from full and timely performance, in accordance with the terms of this Agreement. 25. Subcontracting. 25.1 Nothing contained in this Agreement or otherwise, shall create any contractual relation between Commission and any subconsultant(s), and no subcontract shall relieve Consultant of its responsibilities and obligations hereunder. Consultant agrees to be as fully responsible to Commission for the acts and omissions of its subconsultant(s) 507 and of persons either directly or indirectly employed by any of them as it is for the acts and omissions of persons directly employed by Consultant. Consultant's obligation to pay its subconsultant(s) is an independent obligation from Commission's obligation to make payments to the Consultant. 25.2 Consultant shall perform the Services contemplated with resources available within its own organization and no portion of the Services pertinent to this Agreement shall be subcontracted without written authorization by Commission's Contract Administrator, except that, which is expressly identified in the approved Cost Proposal. 25.3 Consultant shall pay its subconsultants within ten (10) calendar days from receipt of each payment made to Consultant by Commission. 25.4 Any subcontract in excess of $25,000 entered into as a result of this Agreement shall contain - provisions stipulated in this Agreement to be applicable to subconsultants. 25.5. ny subst' ion of subconsultant(s) must be approved in writing by Commission's Cont Ad .tr. for to the start of work by the subconsultant(s). 25.6 Exhibit " bill the Consultant for Servi to Consultant. Additional Direct Co the Consultant and all subconsult Task Order. The subconsultant rate accounting purposes only. 26. Equipment Purchase h the rates at which each subconsultant shall subject to reimbursement by the Commission , as defin- • 'n Exhibit "B" shall be the same for both erwise identified in Exhibit "B" or in a cost proposals contained herein are for 26.1 Prior authorization, in writing, by Commissio shall be required before Consultant enters into any unbu subcontract for supplies, equipment, or services. Consulta the necessity or desirability of incurring such costs. ontract Administrator rchase order, or all provide an evaluation of 26.2 For purchase of any item, service or consulting work not covered in the Cost Proposal and exceeding $5,000 prior authorization, in writing, by Commission's Contract Administrator is required. Three competitive quotations must be submitted with the request for such purchase, or the absence of bidding must be adequately justified. 26.3 Any equipment purchased as a result of this Agreement is subject to the following: Consultant shall maintain an inventory of all nonexpendable property. Nonexpendable property is defined as having a useful life of at least two years and an acquisition cost of $5,000 or more. If the purchased equipment needs replacement and is sold or traded in, Commission shall receive a proper refund or credit at the conclusion of this Agreement, or if this Agreement is terminated, Consultant may either keep the equipment and credit Commission in an amount equal to its fair market value, or sell such equipment at the best price obtainable at a public or private sale, in accordance with established Commission procedures; and credit Commission in an amount equal to the 508 more than $25,000 for demolition, repair, or maintena Section. (c) When p Scope of Services, transportation minimum rates set by the Department of applicable Prevailing Wage Determination. S sales price. If Consultant elects to keep the equipment, fair market value shall be determined at Consultant's expense, on the basis of a competent independent appraisal of such equipment. Appraisals shall be obtained from an appraiser mutually agreeable to by Commission and Consultant. If Consultant determines to sell the equipment, the terms and conditions of such sale must be approved in advance by Commission. 2 CFR, Part 200 requires a credit to Federal funds when participating equipment with a fair market value greater than $5,000 is credited to the Project. 26.4 All subcontracts in excess $25,000 shall contain the above provisions. 27. Labor Code Requirements. 27.1 Prevailing Wages. (a) *nsultant shall comply with the State of California's General Prevailing Wage Rate r sir- -nts in accordance with California Labor Code, Section 1770, and all Federal te, an ,ocal laws and ordinances applicable to the Services. act entered into as a result of this Agreement, if for ction or more than $15,000 for the alteration, orks, shall contain all of the provisions of this apply to the Services described in the ce costs shall be reimbursed at the trial 7 c-tions (DIR) as outlined in the r.ca.gov. (d) Copies of the preen `' g r of p- 'iem wages in effect at commencement of this Agreement are on file at the Commission es. Consultant shall make copies of the prevailing rates of per diem wages for eac ft, w ,, ssification or type of worker needed to execute the Services available to intere • parties upon request, and shall post copies at the Consultant's principal place of b ess and at the project site. Consultant shall defend, indemnify and hold the Commission, its elected officials, officers, employees and agents free and harmless from any claims, liabilities, costs, penalties or interest arising out of any failure or alleged failure to comply with the Prevailing Wage Laws. 27.2 DIR Registration. Since the Services are being performed as part of an applicable "public works" or "maintenance" project, then pursuant to Labor Code Sections 1725.5 and 1771.1, the Consultant and all subconsultants must be registered with the Department of Industrial Relations. Consultant shall maintain registration for the duration of the Project and require the same of any subconsultants. This Project may also be subject to compliance monitoring and enforcement by the Department of Industrial Relations. It shall be Consultant's sole responsibility to comply with all applicable registration and labor compliance requirements. 509 27.3 Eight -Hour Law. Pursuant to the provisions of the California Labor Code, eight hours of labor shall constitute a legal day's work, and the time of service of any worker employed on the work shall be limited and restricted to eight hours during any one calendar day, and forty hours in any one calendar week, except when payment for overtime is made at not less than one and one-half the basic rate for all hours worked in excess of eight hours per day ("Eight -Hour Law"), unless Consultant or the Services are not subject to the Eight -Hour Law. Consultant shall forfeit to Commission as a penalty, $50.00 for each worker employed in the execution of this Agreement by him, or by any sub -consultant under him, for each calendar day during which such workman is required or permitted to work more than eight hours in any calendar day and forty hours in any one calendar week without such compensation for overtime violation of the provisions of the California Labor Code, unless Consultant or the Services are not subject to the Eight -Hour Law. 27.4 Employment of Apprentices. This Agreement shall not prevent the employment of properly indentured apprentices in accordance with the California Labor Code, and no employer or labor union shall refuse to accept otherwise qualified employees as indentured apprentices on the work performed hereunder solely on the ground of race, creed, national origin, ancestry, color or sex. Every qualified apprentice shall be paid the standard wage paid to apprentices under the regulations of the craft or trade in which he or she is employed and shall be employed only in the craft or trade to which he or she is registered. If California Labor Code Section 1777.5 applies to the Services, Consultant and any subcontractor hereunder who employs workers in any apprenticeable craft or trade shall apply to the joint apprenticeship council administering applicable standards for a certificate approving Consultant or any sub -consultant for the employment and training of apprentices. Upon issuance of this certificate, Consultant and any sub -consultant shall employ the number of apprentices provided for therein, as well as contribute to the fund to administer the apprenticeship program in each craft or trade in the area of the work hereunder. The parties expressly understand that the responsibility for compliance with provisions of this Section and with Sections 1777.5, 1777.6 and 1777.7 of the California Labor Code in regard to all apprenticeable occupations lies with Consultant 28. Ownership of Materials/Confidentiality. 28.1 Documents & Data. This Agreement creates an exclusive and perpetual license for Commission to copy, use, modify, reuse, or sub -license any and all copyrights and designs embodied in plans, specifications, studies, drawings, estimates, materials, data and other documents or works of authorship fixed in any tangible medium of expression, including but not limited to, physical drawings or data magnetically or otherwise recorded on computer diskettes, which are prepared or caused to be prepared by Consultant under this Agreement ("Documents & Data"). 510 Consultant shall require all subcontractors to agree in writing that Commission is granted an exclusive and perpetual license for any Documents & Data the subcontractor prepares under this Agreement. Consultant represents and warrants that Consultant has the legal right to grant the exclusive and perpetual license for all such Documents & Data. Consultant makes no such representation and warranty in regard to Documents & Data which were prepared by design professionals other than Consultant or provided to Consultant by the Commission. Commission shall not be limited in any way in its use of the Documents & Data at any time, provided that any such use not within the purposes intended by this Agreement shall be at Commission's sole risk. 28.2 I me right, title and interes rights) in all plans, s programs or softw of authorship fixed i physical drawings or other ("Intellectual Property") pre Agreement as well as any other suc behalf of Consultant under this Ag Property. In addition, Commission shall have and retain all copyright, patent, trade secret and other proprietary studies, drawings, estimates, materials, data, computer enhancements, documents, and any and all works m or expression, including but not limited to, ly or otherwise recorded on computer media ped by or on behalf of Consultant under this ectual Property prepared or developed by or on ment. The Commissioriai and r- -in all right, title and interest in Intellectual Property developed or modified u r th'• • -ment whether or not paid for wholly or in part by Commission, whether or de •ed i •njunction with Consultant, and whether or not developed by Consultan . .ns t wil ' ecute separate written assignments of any and all rights to the abo e refere ced In ctual Property upon request of Commission. Consultant shall also be responsibl4 °!+ obtain in writing separate written assignments from any subcontractors or agents of onsultant of any and all right to the above referenced Intellectual Property. Should Consultant, either during or following termination of this Agreement, desire to use any of the above -referenced Intellectual Property, it shall first obtain the written approval of the Commission. All materials and documents which were developed or prepared by the Consultant for general use prior to the execution of this Agreement and which are not the copyright of any other party or publicly available and any other computer applications, shall continue to be the property of the Consultant. However, unless otherwise identified and stated prior to execution of this Agreement, Consultant represents and warrants that it has the right to grant the exclusive and perpetual license for all such Intellectual Property as provided herein. Commission further is granted by Consultant a non-exclusive and perpetual license to copy, use, modify or sub -license any and all Intellectual Property 511 otherwise owned by Consultant which is the basis or foundation for any derivative, collective, insurrectional, or supplemental work created under this Agreement. 28.3 Confidentiality. All ideas, memoranda, specifications, plans, procedures, drawings, descriptions, computer program data, input record data, written information, and other Documents and Data either created by or provided to Consultant in connection with the performance of this Agreement shall be held confidential by Consultant. Such materials shall not, without the prior written consent of Commission, be used by Consultant for any purposes other than the performance of the Services. Nor shall such materials be disclosed to any person or entity not connected with the performance of the Services or the Project. Nothing furnished to Consultant which is otherwise known to Consultant or is generally known, or has become known, to the related industry shall be deemed confidential. Consultant shall not use Commission's name or insignia, photographs of t Project, or any publicity pertaining to the Services or the Project in any magazine A_ paper, newspaper, television or radio production or other similar medium witho a or written consent of Commission. 28.4 hold the Commissio free and harmless, purs alleged infringement of any other proprietary right of any Commission of the Documents & D specified or depicted. nification. Consultant shall defend, indemnify and Is, officers, employees, volunteers and agents fication provisions of this Agreement, for any t, trade secret, trade name, trademark, or any ity in consequence of the use on the Project by , inclu method, process, product, or concept 29. Indemnification. To the fulles mu,ted by law, Consultant shall defend (with counsel of Commission's choosi in•, ;_r.nify hold Commission, Caltrans and their directors, officials, officers, employ ns nts, nteers, and agents free and harmless from any and all claims, demands, ` auses •"`action, ts, expenses, liability, loss, damage or injury, in law or equity, to property or persons,' 1 •'ii •. wrongful death, in any manner arising out of or incident to alleged neglige ;'cts, o^ issions, or willful misconduct of Consultant, its officials, officers, employ-: agents, consultants, and contractors arising out of or in connection with the perform ce of the Services, the Project or this Agreement, including without limitation the payment of consequential damages, expert witness fees, and attorneys fees and other related costs and expenses. Consultant shall defend, at Consultant's own cost, expense and risk, any and all such aforesaid suits, actions or other legal proceedings of every kind that may be brought or instituted against Commission, Caltrans and their directors, officials, officers, employees, consultants, agents, or volunteers. Consultant shall pay and satisfy any judgment, award or decree that may be rendered against Commission, Caltrans or their directors, officials, officers, employees, consultants, agents, or volunteers, in any such suit, action or other legal proceeding. Consultant shall reimburse Commission, Caltrans and their directors, officials, officers, employees, consultants, agents, and/or volunteers, for any and all legal expenses and costs, including reasonable attorney's fees, incurred by each of them in connection therewith or in enforcing the indemnity herein provided. Consultant's obligation to indemnify shall not be restricted to insurance proceeds, if any, received by Commission, Caltrans, their directors, officials officers, employees, consultants, agents, or volunteers. 512 If Consultant's obligation to defend, indemnify, and/or hold harmless arises out of Consultant's performance as a "design professional" (as that term is defined under Civil Code section 2782.8), then, and only to the extent required by Civil Code section 2782.8, which is fully incorporated herein, Consultant's indemnification obligation shall be limited to claims that arise out of, pertain to, or relate to the negligence, recklessness, or willful misconduct of the Consultant, and, upon Consultant obtaining a final adjudication by a court of competent jurisdiction, Consultant's liability for such claim, including the cost to defend, shall not exceed the Consultant's proportionate percentage of fault. Consultant's obligations as set forth in this Section shall survive expiration or termination of this Agreement. 30. To the fullest extent permitted by law, Consultant shall defend, indemnify and hold Commission, Caltrans and their directors, officials, officers, employees, consultants, volunteers, and agents fr d harmless from any and all claims, demands, causes of action, costs, expense bi loss, damage or injury, in law or equity, to property or persons, including gful de h, inverse condemnation, and any claims related to property acquisitio d reloca ' ru -.s or failure to detect or abate hazardous materials, which are brought by .ird ich , in any manner arise out of or are incident to alleged negligent acts, o on r will ► ` isconduct of Consultant, its officials, officers, employees, agents, consulta , a on ,w ctors arising out of or in connection with the performance of the Services, . e Pro ., °` his Agreement, including without limitation the payment of consequential damage expert s fees, and attorneys fees and other related costs and expenses. Cons n - • _ nd, at Consultant's own cost, expense and risk, any and all such aforesaid s► a : + or oth legal proceedings of every kind that may be brought or instituted against mis altrans, and their directors, officials, officers, employees, consultants, ag•-„ s, lunt . Consultant shall pay and satisfy any judgment, award or decree that m en d ag.:;.Nst Commission, Caltrans or their directors, officials, officers, employees, onsulta s, age or volunteers, in any such suit, action or other legal proceeding. Consultant shal *urse Commission, Caltrans and their directors, officials, officers, employees, .:n sulta ts, agents, and/or volunteers, for any and all legal expenses and costs, inclu •' .:• reasonable attorney's fees, incurred by each of them in connection therewith or in nforcing the indemnity herein provided. Consultant's obligation to indemnify shall not be restricted to insurance proceeds, if any, received by Commission, Caltrans or their directors, officials officers, employees, consultants, agents, or volunteers. Notwithstanding the foregoing, to the extent Consultant's Services are subject to Civil Code Section 2782.8, the above indemnity shall be limited, to the extent required by Civil Code Section 2782.8, to claims that arise out of, pertain to, or relate to the negligence, recklessness, or willful misconduct of the Consultant. Consultant's obligations as set forth in this Section 29 shall survive expiration or termination of this Agreement. 513 31. Insurance. 31.1 Time for Compliance. Consultant shall not commence work under this Agreement until it has provided evidence satisfactory to the Commission that it has secured all insurance required under this Section, in a form and with insurance companies acceptable to the Commission. In addition, Consultant shall not allow any subcontractor to commence work on any subcontract until it has secured all insurance required under this Section. 31.2 Minimum Requirements. Consultant shall, at its expense, procure and maintain for the duration of the Agreement insurance against claims for injuries to persons or damages to property which may arise from or in connection with the performance of the Agreement by the Consultant, its agents, representatives, employees or subcontractors. Consultant shall also require all of its subcontractors to procure and maintain the same insurance for the duratio the Agreement. Such insurance shall meet at least the following minimum lev- •f -rage: broad as the latest ve Commercial General Lia Automobile Liability: Insuranc code 1 (any auto) or exact e ivale Liability: Workers' Compensation i Employer's Liability Insurance. cope of Insurance. Coverage shall be at least as : (1) General Liability: Insurance Services Office urrence form CG 0001 or exact equivalent); (2) ice Business Auto Coverage (form CA 0001, (3) Workers' Compensation and Employer's rance - • uired by the State of California and (b) Minimum Limits o .ura ' onsultant shall maintain limits no less than: (1) General Liability: $2,000,00 •er urr- - for bodily injury, personal injury and property damage. If Commercial ility rance or other form with general aggregate limit is used, either the gene aggre•.,te lim ,.a all apply separately to this Agreement/location or the general aggregate limit sha twice the required occurrence limit. Limits may be achieved by any combinatio •' pn .ry and excess or umbrella liability insurance; (2) Automobile Liability: $1,0 00 per accident for bodily injury and property damage. Limits may be achieved by y combination of primary and excess or umbrella liability insurance; and (3) Workers' Compensation and Employer's Liability: Workers' Compensation limits as required by the Labor Code of the State of California. Employer's Practices Liability limits of $1,000,000 per accident. 31.3 Professional Liability. Consultant shall procure and maintain, and require its sub -consultants to procure and maintain, for a period of five (5) years following completion of the Project, errors and omissions liability insurance appropriate to their profession. For Consultant, such insurance shall be in an amount not less than $1,000,000 per claim. This insurance shall be endorsed to include contractual liability applicable to this Agreement and shall be written on a policy form coverage specifically designed to protect against acts, errors or omissions of the Consultant. "Covered Professional Services" as designated in the policy must specifically include work performed under this Agreement. The policy must "pay on behalf of" the insured and must include a provision establishing the insurer's duty to defend. Subconsultants of Consultant 514 shall obtain such insurance in an amount not less than $2,000,000 per claim. Notwithstanding the foregoing, the Commission may consider written requests to lower or dispense with the errors and omissions liability insurance requirement contained in this Section for certain subconsultants of Consultant, on a case -by -case basis, depending on the nature and scope of the Services to be provided by the subconsultant. Approval of such request shall be in writing, signed by the Commission's Contract Administrator. 31.4 Aircraft Liability Insurance. Prior to conducting any Services requiring use of aircraft, Consultant shall procure and maintain, or cause to be procured and maintained, aircraft liability insurance or equivalent form, with a single limit as shall be required by the Commission. Such insurance shall include coverage for owned, hired and non -owned aircraft and passengers, and shall name, or be endorsed to name, the Commission, Caltrans and their directors, officials, officers, employees and agents as additional insureds with res • ect to the Services or operations performed by or on behalf of the Consultant. 31.5 following provisio Commission to add (a) dorsements. The insurance policies shall contain the t s • II provide endorsements on forms approved by the ns to the insurance policies: (i) C coverage for (1) bodily Injury and p (3) premises/operations liability; (4) limits that apply per Project; (6) explosion, deleted; (7) contractual liability with respect damage; and (9) independent consultants c eral Liability Insurance must include ; (2) personal Injury/advertising Injury; leted operations liability; (5) aggregate pse nderground (UCX) exclusion nt; (8) broad form property (ii) The policy shall contain no en ments or provisions limiting coverage for (1) contractual liability; (2) cross liability e 10 r claims or suits by one insured against another; or (3) contain any other exclusa. ;contrary to this Agreement. (iii) The policy shall give the Commission, its directors, officials, officers, employees, and agents insured status using ISO endorsement forms 20 10 10 01 and 20 37 10 01, or endorsements providing the exact same coverage. (iv) The additional insured coverage under the policy shall be "primary and non-contributory" and will not seek contribution from the Commission's or Caltrans' insurance or self-insurance and shall be at least as broad as CG 20 01 04 13, or endorsements providing the exact same coverage. (b) Automobile Liability. The automobile liability policy shall be endorsed to state that: (1) the Commission, Caltrans and their directors, officials, officers, employees and agents shall be covered as additional insureds with respect to the ownership, operation, maintenance, use, loading or unloading of any auto owned, leased, hired or borrowed by the Consultant or for which the Consultant is responsible; and (2) the insurance coverage shall be primary insurance as respects the Commission, Caltrans and 515 their directors, officials, officers, employees and agents, or if excess, shall stand in an unbroken chain of coverage excess of the Consultant's scheduled underlying coverage. Any insurance or self-insurance maintained by the Commission, Caltrans and their directors, officials, officers, employees and agents shall be excess of the Consultant's insurance and shall not be called upon to contribute with it in any way. (c) Workers' Compensation and Employers Liability Coverage. (i) Consultant certifies that he/she is aware of the provisions of Section 3700 of the California Labor Code which requires every employer to be insured against liability for workers' compensation or to undertake self-insurance in accordance with the provisions of that code, and he/she will comply with such provisions before commencing work under this Agreement. against the Commissio paid under the term Consultant. The insurer shall agree to waive all rights of subrogation tors, officials, officers, employees and agents for losses ance policy which arise from work performed by the osts shall be payable in addition to the limits set forth hereunder. (ii) this Section are not intended as a limitation waiver of any coverage normally provided b under this Agreement that any available ins the specified minimum insurance coverage req men be available to the Commission, Caltrans and their directors, offi and agents as additional insureds under said policies. Furthe coverage and limits shall be (1) the minimum coverag Agreement; or (2) the broader coverage and maximum li policy or proceeds available to the named insured; whichever is greater. f specific coverage or limits contained in its, or other requirement, or a ra ` v-. It shall be a requirement eeds '° •ader than or in excess of nd/o 'ii • its set forth herein shall officers, employees re, - requirements for d limits specified in this of coverage of any insurance (iii) The limits of insurance required in this Agreement may be satisfied by a combination of primary and umbrella or excess insurance. Any umbrella or excess insurance shall contain or be endorsed to contain a provision that such coverage shall also apply on a primary and non-contributory basis for the benefit of the Commission (if agreed to in a written contract or agreement) before the Commission's own insurance or self-insurance shall be called upon to protect it as a named insured. The umbrella/excess policy shall be provided on a "following form" basis with coverage at least as broad as provided on the underlying policy(ies). (iv) Consultant shall provide the Commission at least thirty (30) days prior written notice of cancellation of any policy required by this Agreement, except that the Consultant shall provide at least ten (10) days prior written notice of cancellation of any such policy due to non-payment of premium. If any of the required 516 coverage is cancelled or expires during the term of this Agreement, the Consultant shall deliver renewal certificate(s) including the General Liability Additional Insured Endorsement to the Commission at least ten (10) days prior to the effective date of cancellation or expiration. (v) The retroactive date (if any) of each policy is to be no later than the effective date of this Agreement. Consultant shall maintain such coverage continuously for a period of at least three years after the completion of the work under this Agreement. Consultant shall purchase a one (1) year extended reporting period A) if the retroactive date is advanced past the effective date of this Agreement; B) if the policy is cancelled or not renewed; or C) if the policy is replaced by another claims -made policy with a retroactive date subsequent to the effective date of this Agreement. insurance coverage to be the Commission, is not i and obligations othe but not limited to, t (vi) The foregoing requirements as to the types and limits of ained by Consultant, and any approval of said insurance by and shall not in any manner limit or qualify the liabilities by the Consultant pursuant to this Agreement, including rning indemnification. of insurance required under th canceled and not replaced, omm insurance it deems necessary and reimbursed by Consultant or Com from Consultant payments. In the a The Commission may require the Consultan policies in effect for the duration of the Proje me during the life of the Agreement, any policy oes not comply with these specifications or is as the right but not the duty to obtain the prem. •aid by Commission will be promptly old amounts sufficient to pay premium mmis on may cancel this Agreement. plete copies of all insurance (viii) Neither the C,miss nor a = : ,•f its directors, officials, officers, employees or agents shall be personally responsible for ability arising under or by virtue of this Agreement. 31.6 Deductibles and Self -Insurance Ret- ions. Any deductibles or self - insured retentions must be declared to and approved by the Commission. If the Commission does not approve the deductibles or self -insured retentions as presented, Consultant shall guarantee that, at the option of the Commission, either: (1) the insurer shall reduce or eliminate such deductibles or self -insured retentions as respects the Commission, its directors, officials, officers, employees and agents; or, (2) the Consultant shall procure a bond guaranteeing payment of losses and related investigation costs, claims and administrative and defense expense. 31.7 Acceptability of Insurers. Insurance is to be placed with insurers with a current A.M. Best's rating no less than A:VIII, licensed to do business in California, and satisfactory to the Commission. 31.8 Verification of Coverage. Consultant shall furnish Commission with original certificates of insurance and endorsements effecting coverage required by this 517 Agreement on forms satisfactory to the Commission. The certificates and endorsements for each insurance policy shall be signed by a person authorized by that insurer to bind coverage on its behalf. All certificates and endorsements must be received and approved by the Commission before work commences. The Commission reserves the right to require complete, certified copies of all required insurance policies, at any time. 31.9 Subconsultant Insurance Requirements. Consultant shall not allow any subcontractors or subconsultants to commence work on any subcontract until they have provided evidence satisfactory to the Commission that they have secured all insurance required under this Section. Policies of commercial general liability insurance provided by such subcontractors or subconsultants shall be endorsed to name the Commission as an additional insured using ISO form CG 20 38 04 13 or an endorsement providing the exact same coverage. If requested by Consultant, the Commission may approve different scopes or minimum limits of insurance for particular subcontractors or subconsultants. 31.10 additional coverag reasonable and pru Project. In retaining th program to be adequate. Co to the insurance required in is Se nce. At its option, the Commission may require such e reduction of deductibles or retentions it considers factors that may directly or indirectly impact the on does not warrant Consultant's insurance ave the right to purchase insurance in addition 32. Safety. Consultant s ex- • maintain its work so as to avoid injury or damage to any person or property. I t its S ices, the Consultant shall at all times be in compliance with all applicable al, and federal laws, rules and regulations, and shall exercise all necessa pre tion r the safety of employees appropriate to the nature of the work and t i un which the work is to be performed. Safety precautions as applicable s I inclu , buts`;: ;, not be limited to: (A) adequate life protection and life saving equipment and proce• (B) instructions in accident prevention for all employees and subcontractor •uch s safe walkways, scaffolds, fall protection ladders, bridges, gang planks +nfined space procedures, trenching and shoring, equipment and other safety de ces, equipment and wearing apparel as are necessary or lawfully required to prevent accidents or injuries; and (C) adequate facilities for the proper inspection and maintenance of all safety measures. Pursuant to the authority contained in Section 591 of the Vehicle Code, the Commission has determined that the Project will contain areas that are open to public traffic. Consultant shall comply with all of the requirements set forth in Divisions 11, 12, 13, 14, and 15 of the Vehicle Code. Consultant shall take all reasonably necessary precautions for safe operation of its vehicles and the protection of the traveling public from injury and damage from such vehicles. 33. Additional Work. Any work or activities that are in addition to, or otherwise outside of, the Services to be performed pursuant to this Agreement shall only be performed pursuant to a separate agreement between the parties. Notwithstanding the foregoing, the Commission's Executive Director may make a change to the Agreement, 518 other than a Cardinal Change. For purposes of this Agreement, a Cardinal Change is a change which is "outside the scope" of the Agreement; in other words, work which should not be regarded as having been fairly and reasonably within the contemplation of the parties when the Agreement was entered into. An example of a change which is not a Cardinal Change would be where, in a contract to construct a building there are many changes in the materials used, but the size and layout of the building remains the same. Cardinal Changes are not within the authority of this provision to order, and shall be processed by the Commission as "sole source" procurements according to applicable law, including the requirements of FTA Circular 4220.1 D, paragraph 9(f). (a) In addition to the changes authorized above, a modification which is signed by Consultant and the Commission's Executive Director, other than a Cardinal Change, may be made in order to: (1) make a negotiated equitable adjustment to the Agreeme t price, delivery schedule and other terms resulting from the issuance of a Change Or r 2) reflect definitive letter contracts, and (3) reflect other agreements of the pa ' • 'ying the terms of this Agreement ("Bilateral Contract Modification"). change, without written a herein. In the event such Commission's Executive Dire tor, C 34. Prohibited Interests. ant shall not perform, nor be compensated for any e Commission's Executive Director as set forth orization is not issued and signed by the ant shall not provide such change. 34.1 Solicitation. Consultan employed nor retained any company or pers solely for Consultant, to solicit or secure this it has not paid nor has it agreed to pay any co pany . perso employee working solely for Consultant, any fee, commission, gift or other consideration contingent upon or resulting fro Agreement. For breach or violation of this warranty, the to rescind this Agreement without liability. 34.2 Consultant Conflict of Interest warrants that it has not na fide employee working Consultant warrants that ther than a bona fide ge, brokerage fee, awa`d or making of this mission shall have the right (a) Consultant shall disclose any financial, business, or other relationship with Commission that may have an impact upon the outcome of this Agreement, or any ensuing Commission construction project. Consultant shall also list current clients who may have a financial interest in the outcome of this Agreement, or any ensuing Commission construction project, which will follow. (b) Consultant hereby certifies that it does not now have, nor shall it acquire any financial or business interest that would conflict with the performance of services under this Agreement. 519 (c) Any subcontract in excess of $25,000 entered into as a result of this Agreement, shall contain all of the provisions of this Article. (d) Consultant hereby certifies that neither Consultant, nor any firm affiliated with Consultant will bid on any construction contract, or on any contract to provide construction inspection for any construction project resulting from this contract. An affiliated firm is one, which is subject to the control of the same persons through joint -ownership, or otherwise. (e) Except for subconsultants whose services are limited to providing surveying or materials testing information, no subconsultant who has provided design services in connection with this contract shall be eligible to bid on any construction contract, or on any contract to provide construction inspection for any construction project resulting from this contract. 34.3 C• is Conflict of Interest. For the term of this Agreement, no member, officer or e oyee of e Commission, during the term of his or her service with the Commission, s ,__! have a :ire► .'nterest in this Agreement, or obtain any present or anticipated material • in ( . rom. 34.4 Conflict m:'• _' . Employment by the Consultant of personnel currently on the payroll of the om shall not be permitted in the performance of this Agreement, even though such em•' ment cur outside of the employee's regular working hours or on weekends, hol y n time. Further, the employment by the Consultant of personnel who have b- o - •mmis 'on payroll within one year prior to the date of execution of this Agreement, w ; e thi oyment is caused by and or dependent upon the Consultant securing thi re Ag ents with the Commission, is prohibited. 34.5 Covenant Against Contingent Fees. As r- • in connection with federal funding, the Consultant warrants that he/she has n• plo `-d or retained any company or person, other than a bona fide employee wor ; for the Consultant, to solicit or secure this Agreement, and that he/she has not paid o greed to pay any company or person, other than a bona fide employee, any fee, commission, percentage, brokerage fee, gift, or any other consideration, contingent upon or resulting from the award or formation of this Agreement. For breach or violation of this warranty, the Commission shall have the right to terminate this Agreement without liability pursuant to the terms herein, or at its discretion to deduct from the Agreement price or consideration, or otherwise recover, the full amount of such fee, commission, percentage, brokerage fee, gift, or contingent fee. 34.6 Rebates, Kickbacks or Other Unlawful Consideration. Consultant warrants that this Agreement was not obtained or secured through rebates kickbacks or other unlawful consideration, either promised or paid to any Commission employee. For breach or violation of this warranty, Commission shall have the right in its discretion; to terminate this Agreement without liability; to pay only for the value of the work actually 520 performed; or to deduct from the Agreement price; or otherwise recover the full amount of such rebate, kickback or other unlawful consideration. 34.7 Covenant Against Expenditure of Commission, State or Federal Funds for Lobbying. The Consultant certifies that to the best of his/ her knowledge and belief no state, federal or local agency appropriated funds have been paid, or will be paid by or on behalf of the Consultant to any person for the purpose of influencing or attempting to influence an officer or employee of any state or federal agency; a Member of the State Legislature or United States Congress; an officer or employee of the Legislature or Congress; or any employee of a Member of the Legislature or Congress, in connection with the award of any state or federal contract, grant, loan, or cooperative agreement, or the extension, continuation, renewal, amendment, or modification of any state or federal contract, grant, loan, or cooperative agreement. (a) paid, or will be paid to a an officer or emplo employee of Congr Agreement, the Cons Form-LLL, "Disclosure instructions. y funds other than federal appropriated funds have been for the purpose of influencing or attempting to influence deral agency; a Member of Congress; an officer or loy of a Member of Congress; in connection with this and submit the attached Exhibit "G", Standard obbying," in accordance with the attached (b) The Co Itant's material representation of fact upo entered into, and is a prerequisite f 1352, Title 31, US. Code. Failure to comply disclosure and certification requirements set f result in a civil penalty of not less than $10,0 failure. cation provided in this Section is a was placed when this Agreement was to thi Agreement pursuant to Section the tions on expenditures, or the 52, Title 31, US. Code may $100,000 for each such (c) The Consultant also agrees by he/she shall require that the language set forth in this Se Consultant subcontracts which exceed $100,000, and th certify and disclose accordingly. ng s Agreement that n 3.23.5 be included in all all such subcontractors shall 34.8 Employment Adverse to the Commission. Consultant shall notify the Commission, and shall obtain the Commission's written consent, prior to accepting work to assist with or participate in a third -party lawsuit or other legal or administrative proceeding against the Commission during the term of this Agreement. 35. Equal Opportunity Employment. Consultant represents that it is an equal opportunity employer and it shall not discriminate against any subcontractor, employee or applicant for employment because of race, religion, color, national origin, ancestry, sex or age. Such non-discrimination shall include, but not be limited to, all activities related to initial employment, upgrading, demotion, transfer, recruitment or recruitment advertising, layoff or termination. 521 36. Right to Employ Other Consultants. Commission reserves the right to employ other consultants in connection with the Project. 37. Governing Law. This Agreement shall be governed by and construed with the laws of the State of California. Venue shall be in Riverside County. 38. Disputes; Attorneys' Fees. 38.1 Prior to commencing any action hereunder, the Parties shall attempt in good faith to resolve any dispute arising between them. The pendency of a dispute shall not excuse Consultant from full and timely performance of the Services. 38.2. If the Parties are unable to resolve a dispute after attempting in good faith to do so, the Parties either Party commence otherwise, arising out 11 litigation shall be e ,[111 fees and, all other c seek any other available remedy to resolve the dispute. If n against the other Party, either legal, administrative or ection with this Agreement, the prevailing Party in such nd ecover from the losing Party reasonable attorneys' 39. Time of Essence �T,�� ��� � is of �4� ,- essence for each and every provision of this Agreement. 40. Headings. Article an' ecti•_n i �� l `Wings, paragraph captions or marginal headings contained in this Agreeme co► enience only and shall have no effect in the construction or interpretation of any pro ` here 41. Notices. All notices permitted given to the respective parties at the following ., r` 'dres respective parties may provide in writing for this purpose: CONSULTANT: HNTB Corporation 3633 Inland Empire Blvd Suite 750 Ontario, CA 91764 Attn: Elisabeth Suh this Agreement shall be h other address as the ISSION: Riverside County Transportation Commission 4080 Lemon Street, 3rd Floor Riverside, CA 92501 Attn: Executive Director Such notice shall be deemed made when personally delivered or when mailed, forty-eight (48) hours after deposit in the U.S. mail, first class postage prepaid, and addressed to the Party at its applicable address. Actual notice shall be deemed adequate notice on the date actual notice occurred, regardless of the method of service. 42. Conflicting Provisions. In the event that provisions of any attached exhibits conflict in any way with the provisions set forth in this Agreement, the language, terms and conditions contained in this Agreement shall control the actions and obligations of the 522 Parties and the interpretation of the Parties' understanding concerning the performance of the Services. 43. Amendment or Modification. No supplement, modification, or amendment of this Agreement shall be binding unless executed in writing and signed by both Parties. 44. Entire Agreement. This Agreement contains the entire agreement of the Parties relating to the subject matter hereof and supersedes all prior negotiations, agreements or understandings. 45. Invalidity; Severability. If any portion of this Agreement is declared invalid, illegal, or otherwise unenforceable by a court of competent jurisdiction, the remaining provisions shall continue in full force and effect. 46. Provisions A. cable When State Funds or Federal Funds Are Involved. When funding for the S c- nder a Task Order is provided by this Agreement are provided, in whole o part, .m the United States Department of Transportation, Consultant shall al : Ily and -qu.tely comply with the provisions included in Exhibit "C" (Federal Depart _;,t of " s• n 'on Requirements and California Department of Transportation (Caltran = _ p am - • uirements) attached hereto and incorporated herein by reference. When f a,r�� ���.or th�`�Services under a Task Order is provided, in whole or in part, from the FT- ons'4"'' -hall also fully and adequately comply with the provisions included in Exhibit "F" (F Requires ts) attached hereto and incorporated herein by reference 47. Survival. All rights and oblig continue after any expiration or termination of the indemnification and confidentiality oblig termination. er that by their nature are to including, but not limited to, any such expiration or 48. No Third Party Beneficiaries. There are no inten of any right or obligation assumed by the Parties. arty beneficiaries 49. Labor Certification. By its signature hereunder, Consultant certifies that it is aware of the provisions of Section 3700 of the California Labor Code which require every employer to be insured against liability for Workers' Compensation or to undertake self- insurance in accordance with the provisions of that Code, and agrees to comply with such provisions before commencing the performance of the Services. 50. Counterparts. This Agreement may be signed in counterparts, each of which shall constitute an original. 51. Attorney Client Privilege. The Parties recognize that, during the Project, the Commission and its attorneys will engage in communication that gives rise to an attorney client privilege of confidentiality ("Confidential Communication"). Given the nature of the work done by Consultant for the Commission, it may be necessary for the Consultant to participate in Confidential Communications. To the extent that (i) the Consultant is a party to any Confidential Communication, and (ii) a third party seeks discovery of such 523 communications, then the Consultant shall be deemed to be an agent of the Commission solely for purposes of preserving any attorney client privilege in the relevant Confidential Communication. Any such attorney client privilege shall be held by the Commission and the Consultant is not authorized to waive that privilege or, otherwise, disclose such Confidential Communication except as set forth below. This Section is intended to maintain the privilege in any privileged Confidential Communications that are (1) between and among Commission, Consultant, and Commission's attorneys; (2) between Consultant (on behalf of the Commission) and Commission's attorneys; (3) Confidential Communications that occur in Closed Session meetings wherein the Commission, the Commission's attorneys and Consultant are present; and (4) between Commission and Consultant wherein the substance of the Confidential Communication is conveyed to/from the Consultant. Consultant ma disclose a Confidential Communication to the extent such disclosure is required by I- 'rocess, by a court of competent jurisdiction or by any other governmental authority .vi.. that any such disclosure shall be limited to the specific part of the Confide ► Com ication required to be disclosed and provided that Consultant first co 1 with t e• ' ements set forth in this paragraph. As soon as practicable after Cons. - i • • : - re that it is required, or may become required, to disclose the Confidentia om ' ratio for such reason, Consultant shall notify the Commission in writing, in ord= • a th= ommission to pursue legal remedies designed to limit the Confidential Co muni required to be disclosed or to assure the confidential treatment of the disclos: inform. ' flowing its disclosure. Consultant shall cooperate with the Commission, o a ale basis, to assist the Commission in limiting the scope of disclosure or a _rrin► confi tial treatment of any disclosed information. 52. Subpoenas or Court Orders. Sh. o tant r -ive a subpoena or court order related to this Agreement, the Services or he Proj ct, Con ant shall immediately provide written notice of the subpoena or court order to the Co ► s''Y.. . Consultant shall not respond to any such subpoena or court order until notice mission is provided as required herein, and shall cooperate with the Co ' ' sion in responding to the subpoena or court order. 53. Assignment or Transfer. Consultant shall not assign, hypothecate, or transfer, either directly or by operation of law, this Agreement or any interest herein, without the prior written consent of the Commission. Any attempt to do so shall be null and void, and any assignees, hypothecates or transferees shall acquire no right or interest by reason of such attempted assignment, hypothecation or transfer. 54. Successors and Assigns. This Agreement shall be binding on the successors and assigns of the parties, and shall not be assigned by Consultant without the prior written consent of Commission. 55. Incorporation of Recitals. The recitals set forth above are true and correct and are incorporated into this Agreement as though fully set forth herein. 524 56. No Waiver. Failure of Commission to insist on any one occasion upon strict compliance with any of the terms, covenants or conditions hereof shall not be deemed a waiver of such term, covenant or condition, nor shall any waiver or relinquishment of any rights or powers hereunder at any one time or more times be deemed a waiver or relinquishment of such other right or power at any other time or times. [Signatures on following page] 525 SIGNATURE PAGE TO PROFESSIONAL SERVICES AGREEMENT WITH PROPOSITION 1 B, FTA AND FHWA FUNDING ASSISTANCE FOR ENVIRONMENTAL CONSULTING SERVICES IN WITNESS WHEREOF, this Agreement was executed on the date first written above. RIVERSIDE COUNTY TRANSPORTATION COMM ION By: Anne Mayer Approved as to Form: By: Best, Best & Krieger LLP General Counsel CONSULTANT HNTB CORPORATION By: Signature Name Ti ATTEST: By: Its: * A corporation requires the signatures of two corporate officers. One signature shall be that of the chairman of board, the president or any vice president and the second signature (on the attest line) shall be that of the secretary, any assistant secretary, the chief financial officer or any assistant treasurer of such corporation. If the above persons are not the intended signators, evidence of signature authority shall be provided to RCTC. 526 EXHIBIT "A" - SCOPE OF SERVICES ON -CALL ENVIRONMENTAL CONSULTING SERVICES 1.0 DESCRIPTION OF WORK 1.1 Consultant Responsibilities shall include, but will not be limited to the following: 1.1.1 Review and evaluate project -specific environmental documents to assess current compliance/validity under California Environmental Quality Act (CEQA) and National Environm environmental requir documentation revalidation/reeval support the assess Policy Act (NEPA) due to changes in project design, elapsed time, etc. Prepare appropriate written lemental materials (e.g., environmental d• -- i dum, update technical reports and studies, etc.) to 1.1.2 Revie d • ide ritten input on project -specific environmental documents, technical report , and as requested by Commission staff (e.g., air quality, water quality, noise, cultur esourc eontology, biology, MSHCP studies, and Sections 4[f] and 6[f]). 1.1.3 Permitting servi -s in tion of permit packages(s) and submittal to permitting agency(ies); coord do rmitting agency(ies); and shepherding permits(s) through their respe• e h *val p ess(es). 1.1.4 Implementing, monitoring, and d•cumen ' the progress and success of environmental commitments during construction a - :o .,onstruction (e.g., environmentally sensitive area [ESA] fencing, permit con ``° ns, habitat restoration, revegetation, special environmental provisions, etc.). 1.1.5 Support of project compliance with Western Riverside County Multispecies Habitat Conservation Plan (MSHCP) including preparation of documentation needed to support consistency determination process. specific issues. 1.1.6 Coordination with regulatory and resources agencies as needed, on 1.1.7 Other environmental services as requested by Commission staff. 1.1.8 In addition to meeting with and coordinating efforts with Commission staff, Consultant may also be required to interact with Commission legal counsel, other consultants, Caltrans, Federal Transit Administration, Federal Highway Administration, et al. 17336.00603\31171937.1 Exhibit A 527 1.1.9 If any legal issues exist during the course of work authorized under this scope of work, Consultant shall inform Commission. All legal opinions shall be rendered by Commission's legal counsel. 1.1.10 If hazardous materials or wastes are discovered during the course of work authorized under this scope of work, Consultant shall inform Commission and seek further direction from the Commission. 1.2 Materials to be Furnished by Commission 1.2.1 All software, data, reports, surveys, drawings, and other documents furnished to the Offeror by Commission for the Offeror's use in the performance of services shall be made available only for use in performing the assignment and shall remain the property of Commission. All such materials shall be returned to Commission upon completion of sery , termination of the agreement, or other such time as Commission may dete 1.3 Pers 1.3.1 determined by the scope of th tasks to be performed. All approval by Commission. 1.4 Third Party Relations ions and Responsibilities ifications of personnel to be assigned will be quest and the degree of difficulty of required personnel assignments shall be subject to 1.4.1 This Contract is intend pro ' -call environmental services for Commission projects. In the developmen f th om ion projects, Commission has worked closely with various professio 1 ag ies, and others in the development of the project documents and oth rojec late • ``- -terials. Commission, however, is solely responsible for and will be the sole point of for all contractual matters related to the Task Orders. Offeror shall take direction . ; , ` fro Commission and shall regularly inform only Commission of Task Order pro• outstanding issues, and all related matters. 1.4.2 During the course of the contract, Offeror may find occasion to meet with resource agencies, local jurisdictions, or Caltrans representatives, the design engineer, or other third parties who have assisted with the various Plan projects. These entities may, from time to time, offer suggestions and/or recommendations regarding the Commission project or elements of the project. While the Commission enjoys a close relationship with and has considerable confidence in the capabilities of these other parties, Offeror shall not act on any suggestions, solicited or unsolicited, without obtaining specific direction from Commission. All oral and written communication with outside agencies or Offerors related to the project shall be directed only to Commission. Distribution of project related communications and information shall be at the sole discretion of Commission representatives. 2.0 TASK ORDER PROCEDURES 17336.00603\31171937.1 Exhibit A 528 2.1 Definitions 2.1.1 The term Consultant shall refer to the firm or firms that are awarded the contract for environmental consulting services. 2.1.2 A Task Order is utilized by the parties to establish, outline, and authorize a particular job or task. 2.2 Initiating Task Orders 2.2.1 The Commission's project manager will issue Task Orders to the Consultant. 2.2.2 The C for a Task Order Propo shall develop a plan Task Order shall classification(s) to mission's request for task order submittals. Upon a request e designated Commission project manager, contractor a task order proposal for the requested services. The me schedule, number of labor hours, and labor d services. 2.3 Review an 4 war- • ers 2.3.1 The Co miss :esignated project manager will review the submitted Task Order (TO) to ens that the submittal is complete, consistent with the Commission's written or oral reque o rvices, the personnel assigned are acceptable, the schedule is acceptable, that all cats proposed are appropriate, and that the item is in compliance with contractual requirements. The project manager will award the Task Order if it is determined to be fair and reasonable. If required, the Commission's project manager will conduct negotiations to address exceptions a i= .clarify costs. The fully executed Task Order will serve as the record of negotiations. 2.4 Completion Schedule 2.4.1 The contractors' performance of se ices shall commence under each Task Order only upon written authorization by the Commission's designated project manager. 2.4.2 Contractor shall complete the services within the time frame specified on a particular Task Order. 17336.00603\31171937.1 Exhibit A 529 EXHIBIT "B"- COMPENSATION AND PAYMENT Exhibit B-1 17336.00603\31171937.1 530 EXHIBIT "B" COMPENSATION SUMMARY' FIRM PROJECT TASKS/ROLE COST Prime Consultant: HNTB Corporation On -Call Environmental Consulting Services $ 3,000,000.00 Sub Consultants: Applied Earthworks Cultural and Paleontology TBD Duke Cultural Resources Management Paleontology and Cultural TBD ECORP Consulting CEQA/NEPA Biological, Cultural, Architectural History TBD Epic Land Solutions Right of Way TBD Environmental Review Partners Air Quality Analysis TBD Environmental Science Associates CEQA/NEPA Biological Resources TBD Pacific Restoration Group, Inc. Habitat Resoration TBD Rincon Consultant, Inc. Biological Resources TBD Terry A. Hayes Associates Air Quality Analysis, Greenhouse Gases, Climate Change/Energy, and Noise/Vibration Services TBD Tatsumi & Partners isual/Landscape TBD 00Aest TOTAL COSTS$ 3,000,000.00 1 Commission authorization pertains to total contract awa amount. Compensation adjustments between consultants may occur; however, the maximum total compensation authorized may not be exceed 531 EXHIBIT "C" FHWA/ CALTRANS REQUIREMENTS 1. STATEMENT OF COMPLIANCE. A. Consultant's signature affixed herein shall constitute a certification under penalty of perjury under the laws of the State of California that CONSULTANT has, unless exempt, complied with, the nondiscrimination program requirements of Government Code Section 12990 and Title 2, California Administrative Code, Section 8103. B. During the performance of this Agreement, Consultant and its subconsultants shall not unlawfully discriminate, har- s, or allow harassment against any employee or applicant for employment because of s- e, color, ancestry, religious creed, national origin, physical disability (including HIV d AI ► , mental disability, medical condition (e.g., cancer), age (over 40), marital st. ., and dh al of family care leave. Consultant and subconsultants shall insure that t valuati• an• eatment of their employees and applicants for employment are fre- u : imination and harassment. Consultant and subconsultants shall comp y wi - pro ons of the Fair Employment and Housing Act (Gov. Code §12990 (a -f) et s- . an, .e plicable regulations promulgated there under (California Code of Regulations, Titl: ', -ction 7285 et seq.). The applicable regulations of the Fair Employment and Housin• ommi plementing Government Code Section 12990 (a -f), set forth in Chapter o . io of Title 2 of the California Code of Regulations, are incorporated into this - gre by re -nce and made a part hereof as if set forth in full. Consultant and its subco Ita s give written notice of their obligations under this clause to labor orga ch they have a collective bargaining or other Agreement. C. If this Agreement is federally funded, the Consultant sh o ' y with regulations relative to Title VI (nondiscrimination in federally -assisted pr' ams o the Department of Transportation — Title 49 Code of Federal Regulations, P. 1 - Effectuation of Title VI of the 1964 Civil Rights Act). Title VI provides that the recipients of federal assistance will implement and maintain a policy of nondiscrimination in which no person in the state of California shall, on the basis of race, color, national origin, religion, sex, age, disability, be excluded from participation in, denied the benefits of or subject to discrimination under any program or activity by the recipients of federal assistance or their assignees and successors in interest. D. If this Agreement is federally funded, the Consultant, with regard to the work performed by it during the Agreement shall act in accordance with Title VI. Specifically, the Consultant shall not discriminate on the basis of race, color, national origin, religion, sex, age, or disability in the selection and retention of Subconsultants, including procurement of materials and leases of equipment. The Consultant shall not participate either directly or indirectly in the discrimination prohibited by Section 21.5 of the U.S. DOT's Regulations, Exhibit C-1 17336.00603\31171937.1 532 including employment practices when the Agreement covers a program whose goal is employment. 2. DEBARMENT AND SUSPENSION CERTIFICATION CONSULTANT's signature affixed herein, shall constitute a certification under penalty of perjury under the laws of the State of California, that CONSULTANT has complied with Title 2 CFR, Part 180, "OMB Guidelines to Agencies on Government wide Debarment and Suspension (nonprocurement)", which certifies that he/she or any person associated therewith in the capacity of owner, partner, director, officer, or manager, is not currently under suspension, debarment, voluntary exclusion, or determination of ineligibility by any federal agency; has not been suspended, debarred, voluntarily excluded, or determined ineligible by any federal agency within the past three (3) years; does not have a proposed debarment pending; and has not been indicted, convicted, or had a civil judgment rendered against it by a court of competent jurisdiction in any matter involving fraud or official misconduct within the past three (3) years. Any exceptions to this certification must be disclosed to COMMISSION. B. Exceptions will not necessarily result in denial of recommendation for award, but will be considered in determining CONSULTANT responsibility. Disclosures must indicate to whom exceptions apply, initiating agency, and dates of action. C. Exceptions to the Federal Government Excluded Parties List System maintained by the General Services Administration are be letermined by the Federal highway Administration. 3. DISCRIMINATION The Commission shall not discriminate on the basis of race, color, national origin, or sex in the award and performance of any DOT -assisted contract or in the implementation of the Caltrans DBE program or the requirements of 49 CFR Part 26. The Commission shall take all necessary and reasonable steps under 49 CFR Part 26 to ensure nondiscrimination in the award and administration of DOT -assisted contracts. Consultant or subcontractor shall not discriminate on the basis of race, color, national origin, of sex in the performance of this Agreement. Consultant or subcontractor shall carry out applicable requirements of 49 CFR Part 26 and the Caltrans DBE program in the award and administration of DOT -assisted contracts, as further set forth below. Failure by the Consultant or subcontractor to carry out these requirements is a material breach of this Agreement, which may result in the termination of this Agreement or such other remedy, as the Commission deems appropriate. 4. PROMPT PAYMENT Consultant agrees to pay each subcontractor under this prime contract for satisfactory performance of its contract no later than 10 days from the receipt of each payment the Exhibit C-2 533 17336.00603\31171937.1 prime contractor receives from the Commission. Any delay or postponement of payment from the above referenced time frame may occur only for good cause following written approval of the Commission. This clause applies to both DBE and non -DBE subcontractors. 5. RELEASE OF RETAINAGE No retainage will be withheld by the Agency from progress payments due the prime consultant. Retainage by the prime consultant or subconsultants is prohibited, and no retainage will be held by the prime consultant from progress due subconsultants. Any violation of this provision shall subject the violating prime consultant or subconsultants to the penalties, sanctions, and other remedies specified in Section 7108.5 of the California Business and Professions Code. This requirement shall not be construed to limit or impair any contractual, administra 've, or judicial remedies, otherwise available to the prime consultant or subconsulta e event of a dispute involving late payment or nonpayment nt subconsultant performance, or noncompliance by a lies to both DBE and non -DBE prime consultants and by the prime consulta subconsultant. This subconsultants. 6. LEGAL REMEDI In addition to those contract remedie orth under relevant provisions of California law, either Party to this Agreement may, here a. - - le, seek legal redress for violations of this Agreement pursuant to the rel .• s of 49 C.F.R. Parts 23 and 26, to the relevant federal or state statutory pro i sio ernin ivil rights violations, and to the relevant federal and state provisions governin alse i r "whistleblower" actions, as well as any and all other applicable federal s ovis s of law. The Consultant shall include a provision to this effect in each o subcontractors. 7. DBE PARTICIPATION agreements with its Caltrans has developed a statewide DBE program pursuant to 49 C.F.R. Part 26. The requirements and procedures, as applicable, of the Caltrans DBE program are hereby incorporated by reference into this Agreement. Even if no DBE participation will be reported, Consultant shall complete Exhibits "D" of this Agreement in compliance with the Caltrans DBE program, a final utilization report in the form provided by the Commission, and any other Caltrans required DBE forms. A. This Agreement is subject to Title 49, Part 26 of the Code of Federal Regulations entitled "Participation by Disadvantaged Business Enterprises in Department of Transportation Financial Assistance Programs." By obtaining DBE participation on this Agreement, Consultant will assist Caltrans in meeting its federally mandated statewide overall DBE goal. Exhibit C-3 17336.00603\31171937.1 534 B. This Agreement has established a 17% DBE goal. If a DBE subconsultant is unable to perform, the Consultant must make a good faith effort to replace him/her with another DBE subconsultant, if the goal is not otherwise met. A DBE is a firm meeting the definition of a DBE as specified in 49 CFR. C. DBE and other small businesses (SB), as defined in Title 49 CFR, Part 26 are encouraged to participate in the performance of agreements financed in whole or in part with federal funds. The Consultant, subrecipient or subconsultant shall not discriminate on the basis of race, color, national origin, or sex in the performance of this Agreement. The Consultant shall carry out applicable requirements of 49 CFR, Part 26 in the award and administration of US DOT- assisted agreements. Failure by the contractor to carry out these requirements is a material breach of this Agreement, which may result in the termination of this Agreement or such other remedy as the Commission, Caltrans or the Department of Transportati deems appropriate. D. Any subcontrac to as a result of this Agreement shall contain all of the provisions of this se E. A DBE may be terminated only with prior written approval from the Commission and only for the reasons specified in 49 CFR 26.53(f). Prior to requesting Commission consent for the termination, the prime consultant must meet the procedural requirements specified in 49 CFR 26.53(f). 8. DBE PARTICIPATION GENERAL INFORMATION It is Consultant's responsibility to be fully informed regarding the requirements of 49 CFR, Part 26, and the Caltrans DBE program. Particular attention is directed to the following: A. A DBE must be a small business firm defined pursuant to 13 CFR 121 and be certified through the California Unified Certification Program (CUCP). B. A certified DBE may participate as a prime contractor, subcontractor, joint venture partner, as a vendor of material or supplies, or as a trucking company. C. A DBE joint -venture partner must be responsible for specific contract items of work or clearly defined portions thereof. Responsibility means actually performing, managing and supervising the work with its own forces. The DBE joint venture partner must share in the capital contribution, control, management, risks and profits of the joint -venture commensurate with its ownership interest. D. A DBE must perform a commercially useful function, pursuant to 49 CFR 26.55 that is, must be responsible for the execution of a distinct element of the work and must carry out its responsibility by actually performing, managing and supervising the work, as more fully described in section 8 below. Exhibit C-4 17336.00603\31171937.1 535 E. The Consultant shall list only one subcontractor for each portion of work as defined in the Consultant's bid/proposal and all DBE subcontractors should be listed in the Consultant's bid/cost proposal list of subcontractors. F. A Consultant who is a certified DBE is eligible to claim all of the work in the Agreement toward the DBE participation except that portion of the work to be performed by non -DBE subcontractors. 9 . COMMERCIALLY USEFUL FUNCTION A. A DBE performs a commercially useful function when it is responsible for execution of the work of the Agreement and is carrying out its responsibilities by actually performing, managing, and supervising the work involved. To perform a commercially useful function, the DBE must also be responsible with respect to materials and supplies used on the Agreement, for negotiating price, determining quality and quantity, ordering the material, and installing (where applicable) and paying for the material itself. To determine whether a DBE is performing a commercially useful function, evaluate the amount of work subcontracted, industry practices; whether the amount the firm is to be paid under the Agreement is commensurate wit rk it is actually performing, and other relevant factors. B. A DBE does not perform a commercially useful function if its role is limited to that of an extra participant in a transaction, Agreement, or project through which funds are passed in order to obtain the appearance of DBE participation. In determining whether a DBE is such an extra participant, examine similar transa tions,sparticularly those in which DBEs do not participate. C. If a DBE does not perform or exercise responsibility for at least thirty percent of the total cost of its Agreement with its own work force, or the DBE subcontracts a greater portion of the work of the Agreement than would be expected on the basis of normal industry practice for the type of work involved, it will be presumed that it is not performing a commercially useful function. 10. DBE CERTIFICATION AND DE -CERTIFICATION STATUS If a DBE subcontractor is decertified during the life of the Agreement, the decertified subcontractor shall notify the Contractor in writing with the date of de -certification. If a subcontractor becomes a certified DBE during the life of the Agreement, the subcontractor shall notify the Contractor in writing with the date of certification. Any changes should be reported to the Commission's Contract Administrator within 30 days. 11. DBE RECORDS A. The Contractor shall maintain records of materials purchased and/or supplied from all subcontracts entered into with certified DBEs. The records shall show the name and business address of each DBE or vendor and the total dollar amount actually paid each Exhibit C-5 17336.00603\31171937.1 536 DBE or vendor, regardless of tier. The records shall show the date of payment and the total dollar figure paid to all firms. DBE prime Contractors shall also show the date of work performed by their own forces along with the corresponding dollar value of the work. B. Upon completion of the Agreement, a summary of these records shall be prepared and submitted on the most current version of the form entitled, "Final Report -Utilization of Disadvantaged Business Enterprises (DBE)," CEM- 2402F (Exhibit 17-F in Chapter 17 of the LAPM), certified correct by the Contractor or the Contractor's authorized representative and shall be furnished to the Commission's Contract Administrator with the final invoice. Failure to provide the summary of DBE payments with the final invoice will result in twenty- five percent (25%) of the dollar value of the invoice being withheld from payment until the form is submitted. The amount will be returned to the Contractor when a satisfactory "Final Report Utilization of Disadvantaged Business Enterprises (DBE)" is submitted to the Commission's Contract Administrator. a. Prior to the fifteen of e month, the Contractor shall submit documentation to the Commission's Contract Admi strator showing the amount paid to DBE trucking companies. The Contractor shall also obtain and submit documentation to the Commission's Contract Administrator showing the amount paid by DBE trucking companies to all firms, including owner -operators, for the leasing of trucks. If the DBE leases trucks from a non -DBE, the Contractor may count only the fee or commission the DBE receives as a result of the lease arrangement. b. The Contractor shall also submit to the Commission's Contract Administrator documentation showing the truck number, name of owner, California Highway Patrol CA number, and if applicable, the DBE certification number of the truck owner for all trucks used during that month. This documentation shall be submIllbd on the Caltrans "Monthly DBE Trucking Verification," CEM-2404(F) form provided t he Contractor by the Commission's Contract Administrator. 12. REPORTING MATERIAL OR SUPPLIES PURCHAS FROM DBEs When Reporting DBE Participation, Material or Supplies purchased from DBEs may count as follows: A. If the materials or supplies are obtained from a DBE manufacturer, 100 % of the cost of the materials or supplies will count toward the DBE participation. A DBE manufacturer is a firm that operates or maintains a factory or establishment that produces on the premises, the materials, supplies, articles, or equipment required under the Agreement and of the general character described by the specifications. B. If the materials or supplies purchased from a DBE regular dealer, count 60 % of the cost of the materials or supplies toward DBE goals. A DBE regular dealer is a firm that owns, operates or maintains a store, warehouse, or other establishment in which the materials, supplies, articles or equipment of the general character described by the specifications and required under the Agreement, are bought, kept in stock, and regularly Exhibit C-6 17336.00603\31171937.1 537 sold or leased to the public in the usual course of business. To be a DBE regular dealer, the firm must be an established, regular business that engages, as its principal business and under its own name, in the purchase and sale or lease of the products in question. A person may be a DBE regular dealer in such bulk items as petroleum products, steel, cement, gravel, stone or asphalt without owning, operating or maintaining a place of business provided in this section. C. If the person both owns and operates distribution equipment for the products, any supplementing of regular dealers' own distribution equipment, shall be by a long-term lease agreement and not an ad hoc or Agreement -by -Agreement basis. Packagers, brokers, manufacturers' representatives, or other persons who arrange or expedite transactions are not DBE regular dealers within the meaning of this section. D. Materials or supplies purchased from a DBE, which is neither a manufacturer nor a regular dealer, will be limited to the entire amount of fees or commissions charged for assistance in the procurement of the materials and supplies, or fees or transportation charges for the deliv of mater Is or supplies required on the job site, provided the fees are reasonable an t exces a compared with fees charged for similar services. 13. REPORTING PARTICIP • N O ' BE TRUCKING COMPANIES When Reporting DBE Participation, pation of DBE trucking companies may count as follows: A. The DBE must be responsible trucking operation for which it is responsible. B. The DBE must itself own and opera operational truck used on the Agreement. agernent and supervision of the entire licensed, insure, and C. The DBE receives credit for the total value of the trans Ftation services it provides on the Agreement using trucks it owns, insures, and operates using drivers it employs. D. The DBE may lease trucks from another DBE firm including an owner -operator who is certified as a DBE. The DBE who leases trucks from another DBE receives credit for the total value of the transportation services the lessee DBE provides on the Agreement. E. The DBE may also lease trucks from a non -DBE firm, including an owner -operator. The DBE who leases trucks from a non -DBE is entitled to credit only for the fee or commission it receives as a result of the lease arrangement. The DBE does not receive credit for the total value of the transportation services provided by the lessee, since these services are not provided by the DBE. F. For the purposes of this section, a lease must indicate that the DBE has exclusive use and control over the truck. This does not preclude the leased truck from working for others during the term of the lease with the consent of the DBE, as long as the lease gives Exhibit C-7 17336.00603\31171937.1 538 the DBE absolute priority for use of the leased truck. Leased trucks must display the name and identification number of the DBE. 14. DEBARMENT, SUSPENSION AND OTHER INELIGIBILITY AND VOLUNTARY EXCLUSION In accordance with 49 CFR Part 29, which by this reference is incorporated herein, Consultant's subconsultants completed and submitted the Certificate of subconsultant Regarding Debarment, Suspension and Other Ineligibility and Voluntary Exclusion as part of the Consultant's proposal. If it is later determined that Consultant's subconsultants knowingly rendered an erroneous Certificate, the Commission may, among other remedies, terminate this Agreement. 15. ENVIRONMENTAL COMPLIANCE A. Compliance with aII llicable standards, orders, or requirements issued under section 306 of the Clean Air Act (42 U.S.C. 1857(h)), section 508 of the Clean Water Act (33 U.S.C. 1368), Executive Order 11738, and Environmental Protection Agency regulations (40 CFR part 15). (Contracts, subcontracts, and subgrants of amounts in excess of $100,000). B. Mandatory standards and policies relating to energy efficiency which are contained in the state energy conservation plan issued in compliance with the Energy Policy and Conservation Act (Pub. L. 94-163, 89 Stat. 871). 16. NATIONAL LABOR RELATIONS BOARD CERTIFICATION In accordance with Public Contract Code Section 10296, and by signing this Agreement, Consultant certifies under penalty of perjury that no more than one final unappealable finding of contempt of court by a federal court has been issued against Consultant within the immediately preceding two-year period, because of Consultant's failure to comply with an order of a federal court that orders Consultant to comply with an order of the National Labor Relations Board. Exhibit C-8 17336.00603\31171937.1 539 EXHIBIT "0" CONSULTANT DBE COMMITMENT Consultant to Complete this Section 1. Local Agency Name: Riverside County Transportation Commission 2. Project Location: Riverside County 3. Project Description: On -Call Environmental Consulting Services 4. Consultant Name: 5. Contract DBE Goal %: 17% Commitment Information 6. Description of Services to be Provi 7. DBE Firm Con t Information 8. DBE Cert. Number 9. DBE Exhibit D-1 17336.00603\31171937.1 540 EXHIBIT "E" - FTA PROVISIONS FTA FUNDING REQUIREMENTS (Non-construction/maintenance work) As used herein, "RCTC" shall have the same meaning as the "Commission." The term "contract" or "Contract" shall have the same meaning as the "Agreement." 1. No Obligation by the Federal Government a. RCTC and Consultant acknowledge and agree that, notwithstanding any concurrence by the Federal Government in or approval of the solicitation or award of the underlying contract, absent the express written consent by the Federal Government, the Federal Government is not a party to this contract and shall not be subject to any obligations or liabilities to the Purchaser, Consultant, or any other party (whether or not a party to that contract) pertaining to any matter resulting from the underlying contract. b. The Consultant agre= • i elude the above clause in each subcontract financed in whole or in part with Federal assista ' rovided by FTA. It is further agreed that the clause shall not be modified, except to identify the onsultant o will be subject to its provisions. 2. Program Fraud an t Statements or Related Acts a. The Consultant acknowl es that the provisions of the Program Fraud Civil Remedies Act of 1986, as amended, 31 U.S.C. § 3801 t seq. and U. DOT regulations, "Program Fraud Civil Remedies," 49 C.F.R. Part 31, apply to s actions pertaining to this Project. Upon execution of the underlying contract, the Consultant certifies or affirms the trutl ulness and accuracy of any statement it has made, it makes, it may make, or causes to be made, pe to the underlying contract or the FTA assisted project for which this contract work is being perfor . In addition to other penalties that may be applicable, the Consultant further ackn*wledges that if i makes, or causes to be made, a false, fictitious, or fraudulent claim, statement, submission, or coertificat. ^. the Federal Government reserves the right to impose the penalties of the Program Fraud Civil ► . ' ies Act of 1986 on the Consultant to the extent the Federal Government deems appropria b. The Consultant also acknowledges that if it makes, or ca - s to be made, a false, fictitious, or fraudulent claim, statement, submission, or certification to the Federal Government under a contract connected with a project that is fmanced in whole or in part with Federal assistance originally awarded by FTA under the authority of 49 U.S.C. § 5307, the Government reserves the right to impose the penalties of 18 U.S.C. § 1001 and 49 U.S.C. § 5307(n)(1) on the Consultant, to the extent the Federal Government deems appropriate. c. The Consultant agrees to include the above two clauses in each subcontract financed in whole or in part with Federal assistance provided by FTA. It is further agreed that the clauses shall not be modified, except to identify the subconsultant who will be subject to the provisions. 3. Access to Records The Consultant agrees to the following access to records requirements: 17336.00603\31171937.1 Exhibit E-1 541 a. To provide RCTC, the FTA Administrator, the Comptroller General of the United States or any of their authorized representatives access to any books, documents, papers and records of the Consultant which are directly pertinent to this contract for the purposes of making audits, examinations, excerpts and transcriptions. Consultant also agrees, pursuant to 49 C. F. R. 633.17 to provide the FTA Administrator or his authorized representatives including any PMO Consultant access to Consultant's records and construction sites pertaining to a major capital project, defined at 49 U.S.C. 5302(a)1, which is receiving federal financial assistance through the programs described at 49 U.S.C. 5307, 5309 or 5311. b. To make available in the case of a contract for a capital project or improvement, as defined above and awarded by other than competitive bidding in accordance with 49 U.S.C. 5325(a), records related to the contract to RCTC, the Secretary of Transportation and the Comptroller General or any authorized officer or employee of any of them for the purposes of conducting an audit and inspection. c. To maintain all books, records, accounts and reports required under this contract for a period of not less than three years after the'date of termination or expiration of this contract, except in the event of litigation or settlement of claimsarising from the performance of this contract, in which case Consultant agrees to maintain same Ail RCTC, the FTA Administrator, the Comptroller General, or any of their duly authorized representatives, have disposed of all such litigation, appeals, claims or exceptions related thereto. Referejce 499 18.39(i)(11). d. To permit any of the foregoing parties reproduce by any means whatsoever or to copy excerpts and transcriptions as reasonably needed. 4. Federal Changes The Consultant shall at all times comply with all ap ble FTA re ulations, policies, procedures and directives, including without limitation those listed directly or by rence in the Master Agreement between RCTC and FTA, as they may be amended4or promulgated time to time during the term of this contract. Consultant's failure to so comply shall constitute a ma t breach of this contract. 5. Civil Rights The following requirements apply to the underlying contract: (1) Nondiscrimination - In accordance with Title VI of the Civil Rights Act, as amended, 42 U.S.C. § 2000d, section 303 of the Age Discrimination Act of 1975, as amended, 42 U. S.C. § 6102, section 202 of the Americans with Disabilities Act of 1990, 42 U.S.C. § 12132, and Federal transit law at 49 U.S.C. § 5332 and 49 CFR part 21, the Consultant agrees that it will not discriminate against any employee or applicant for employment because of race, color, creed, national origin, sex, age, or disability. In addition, the Consultant agrees to comply with applicable Federal implementing regulations and other implementing requirements FTA may issue. (2) Equal Employment Opportunity - The following equal employment opportunity requirements apply to the underlying contract: (a) Race, Color, Creed, National Origin, Sex - In accordance with Title VII of the Civil Rights Act, as amended, 42 U.S.C. § 2000e, and Federal transit laws at 49 U.S.C. § 5332, the Consultant Exhibit E-2 17336.00603\31171937.1 542 agrees to comply with all applicable equal employment opportunity requirements of U.S. Department of Labor (U.S. DOL) regulations, "Office of Federal Contract Compliance Programs, Equal Employment Opportunity, Department of Labor," 41 C.F.R. Parts 60 et seq ., (which implement Executive Order No. 11246, "Equal Employment Opportunity," as amended by Executive Order No. 11375, "Amending Executive Order 11246 Relating to Equal Employment Opportunity," 42 U.S.C. § 2000e note), and with any applicable Federal statutes, executive orders, regulations, and Federal policies that may in the future affect construction activities undertaken in the course of the Project. The Consultant agrees to take affirmative action to ensure that applicants are employed, and that employees are treated during employment, without regard to their race, color, creed, national origin, sex, or age. Such action shall include, but not be limited to, the following: employment, upgrading, demotion or transfer, recruitment or recruitment advertising, layoff or termination; rates of pay or other forms of compensation; and selection for training, including apprenticeship. In addition, the Consultant agrees to comply with any implementing requirements FTA may issue. (b) Age - In accordance with section 4 of the Age Discrimination in Employment Act of 1967, as amended, 29 U.S.C. § § 6 Opportunity Commission ( C.F.R. part 1625, the Age Health and Human Services regulations, "Nondiscrimination on the Basis of Age in Programs or Activities Receiving Federal Financial Assi nce," 45 C.F.R. part 90, the Consultant agrees to refrain from discrimination against present and prosp , tive employees for reason of age. In addition, the Consultant agrees to comply with i . leme ng requirements FTA may issue. (c) Disabilities - In accordance wrl section 504 ot the Rehabilitation Act of 1973, as amended, 29 U.S.C. § 794, the Americans with Disabilities Act of 190, as amended, 42 U.S.C. § 12101 et seq., the Architectural Barriers Act of 1968, as amended, 42 U.S.C. § 4151 et seq., and Federal transit law at 49 U.S.C. § 5332, the Consultant agrees that it will noteiscn e against individuals on the basis of disability, and that it will comply with the requirement f U.S. Equal Employment Opportunity Commission, "Regulations to Implement the Equal E oyment Pre ' ions of the Americans with Disabilities Act," 29 C.F.R. Part 1630, pertaining to. employment o rsons with disabilities. In addition, the Consultant agrees to comply with any implementing requi is FTA may issue. ederal transit law at 49 U.S.C. § 5332, the Equal Employment C) regulations, "Age Discrimination in Employment Act," 29 scrimination Act of 1975, as amended, 42 U.S.C. § 6101 et seq., U.S. (3) The Consultant also agrees to include these requirements in e or in part with Federal assistance provided by FTA, modified o affected parties. ubcontract financed in whole if necessary to identify the 6. FTA Disadvantaged Business Enterprise (DBE) Requirements A. General DBE Requirements: In accordance with Federal financial assistance agreements with the U.S. Department of Transportation (U.S. DOT), Commission has adopted a Disadvantaged Business Enterprise (DBE) Policy and Program, in conformance with Title 49 CFR Part 26, "Participation by Disadvantaged Business Enterprises in Department of Transportation Programs" (the "Regulations"). This RFP is subject to these stipulated regulations. In order to ensure that Commission achieves its overall DBE Program goals and objectives, Commission encourages the participation of DBEs as defined in 49 CFR 26 in the performance of contracts financed in whole or in part with U.S. DOT funds. It is the policy of the Commission to: Exhibit E-3 17336.00603\31171937.1 543 1. Ensure nondiscrimination in the award and administration of DOT -assisted contracts; 2. Create a level playing field on which DBE's can compete fairly for DOT -assisted contracts; 3. Ensure that the DBE program is narrowly tailored in accordance with applicable law; 4. Ensure that only firms that fully meet 49 C.F.R. part 26 eligibility standards are permitted to participate as DBE's; 5. Help remove barriers to the participation of DBEs in DOT assisted contracts; 6. To promote the use of DBEs in all types of federally assisted contracts and procurement activities; and 7. Assist in the development of firms that can compete successfully in the marketplace outside the DBE program. B. Discrimination: Consultant shall not discriminate on the basis of race, color, national origin, or sex in the award and performance of subcontracts. Any terms used herein that are defined in 49 CFR Part 26, or elsewhere in Reg 'on 1 have the meaning set forth in the Regulations. C. Commission's Race-Neutr. 'ro r. A Race -Neutral DBE Program is one that, while benefiting DBEs, is not solely fo, . ed o ' " s. Therefore, under a Race -Neutral DBE Program, Commission does not establish numeric e-conscio 1 BE participation goals on its DOT -assisted contracts. There is no FTA DBE • oal o his P Consultant shall not be required to achieve a spe ific level of DBE participation as a condition of contract compliance in the performance of this DOT -assisted contract. However, Consultant shall adhere to race -neutral DBE participation cortimitment(s) made' -ache time of award. D. Race -Neutral DBE Submissions and Ongoing Reporting ments (Post -Award): At termination of the Contract, the successful Consultant shall comp nd s mit to Commission a "DBE Race -Neutral Participation Listing" in the form provided b mmission. In the event DBE(s) are utilized in the performance of the Agreement, Consultant sh comply with applicable reporting requirements. E. Performance of DBE Subconsultants: DBE subconsultants listed by Consultant in its "DBE Race -Neutral Participation Listing" submitted at the time of proposal shall perform the work and supply the materials for which they are listed, unless Consultant has received prior written authorization from Commission to perform the work with other forces or to obtain the materials from other sources. Consultant shall provide written notification to Commission in a timely manner of any changes to its anticipated DBE participation. This notice should be provided prior to the commencement of that portion of the work. F. DBE Certification Status: If a listed DBE subconsultant is decertified during the life of this Agreement, the decertified subconsultant shall notify Consultant in writing with the date of decertification. If a non -DBE subconsultant becomes a certified DBE during the life of this Agreement, the DBE subconsultant shall notify Consultant in writing with the date of certification. Consultant shall Exhibit E-4 17336.00603\31171937.1 544 furnish the written documentation to Commission in a timely manner. Consultant shall include this requirement in all subcontracts. G. Consultant's Assurance Clause Regarding Non -Discrimination: In compliance with State and Federal anti -discrimination laws, Consultant shall affirm that it will not exclude or discriminate on the basis of race, color, national origin, or sex in consideration of contract award opportunities. Further, Consultant shall affirm that they will consider, and utilize subconsultants and vendors, in a manner consistent with non-discrimination objectives. H. Violations: Failure by the selected Consultant(s) to carry out these requirements shall be a material breach of the contract to be awarded pursuant to this RFP, which may result in the termination of the contract or such other remedy as the recipient deems appropriate, which may include, but is not limited to: (1) Withholding monthly progress payments; (2) Assessing sanctions; (3) Liquidated damages; an (4) Disqualifying the Co ant from future bidding as non -responsible. 49 C.F.R. § 26.13(b). I. Prompt Payment: Col ltant shall pay its subconsultants for satisfactory performance of their contracts no later than 30 dayf om receipt of e h payment Commission makes to the Consultant. 49 C.F.R. § 26.29(a), unless a shorter eriod 's pro ed in the contract. J. Compliance with DBE Requirements tamed in F Provisions: Consultant shall comply with all DBE reporting and other requirements c tain greement. 7. Incorporation of Federal Transit Admin. erms The preceding provisions include, in part, certain Sta ard Te s and nditions required by DOT, whether or not expressly set forth in the preceding contract provisions. All contractual provisions required by DOT, as set forth in FTA Circular 4220.1F are hereby inc to the contrary herein notwithstanding, all FTA mandated terms sh of a conflict with other provisions contained in this Agreement. act, fail to perform any act, or refuse to comply with any RCTC requests which would cause RCTC to be in violation of the FTA terms and conditions. orated ly reference. Anything e deemed to control in the event Consultant shall not perform any 8. Debarment and Suspension. The Consultant agrees to the following: (1) It will comply with the following requirements of 2 CFR Part 180, subpart C, as adopted and supplemented by U.S. DOT regulations at 2 CFR Part 1200. (2) It will not enter into any "covered transaction" (as that phrase is defined at 2 CFR §§ 180.220 and 1200.220) with any subconsultant whose principal is, suspended, debarred, or otherwise excluded from participating in covered transactions, except as authorized by— (i) U.S. DOT regulations, "Nonprocurement Suspension and Debarment," 2 CFR Part 1200; (ii) U.S. OMB regulatory guidance, Exhibit E-5 17336.00603\31171937.1 545 "Guidelines to Agencies on Governmentwide Debarment and Suspension (Nonprocurement)," 2 CFR Part 180; and (iii) Other applicable federal laws, regulations, or requirements regarding participation with debarred or suspended recipients or third party participants. (3) It will review the U.S. GSA "System for Award Management — Lists of Parties Excluded from Federal Procurement and Nonprocurement Programs," if required by U.S. DOT regulations, 2 CFR Part 1200. 9. ADA Access Requirements The Consultant shall comply with all applicable requirements of the Americans with Disabilities Act of 1990 (ADA), 42 USC Section 12101 et seq; Section 504 of the Rehabilitation Act of 1973, as amended, 29 USC Section 794; 49 USC Section 5301(d). 10. Fly America To the extent applicable to the Services, the Consultant agrees to comply with 49 U.S.C. 40118 (the "Fly America" Act) in accordance wih the General Services Administration's regulations at 41 CFR Part 301-10, which provide that recipients and sub recipients of Federal funds and their consultants are required to use U.S. Flag air carriers for .S. Government -financed international air travel and transportation of their personal effects or property, to the extent such service is available, unless travel by foreign air carrier is a matter of necessity, as defined by the Fly America Act. The Consultant shall submit, if a foreign air carrier was used, an appropriate certification or memorandum adequately explaining why service by a U.S. flag aid carrier was not available or why it was necessary to use a foreign air carrier and shall, in any event, provide a certificate of compliance with the Fly America requirements. The Consultant agrees to include the requirements of this section in all subcontracts that may involve international air transportation. 11. Cargo Preference - Use of United States la Vessels To the extent applicable to the Services, the Consultant agrees: 1. To use privately owned United States -Flag commercial els to ship at least 50 percent of the gross tonnage (computed separately for dry bulk c ers, dry cargo liners, and tankers) involved, whenever shipping any equipment, material, or commodities pursuant to the underlying contract to the extent such vessels are available at fair and reasonable rates for United States -Flag commercial vessels; 2. To furnish within 20 working days following the date of loading for shipments originating within the United States or within 30 working days following the date of leading for shipments originating outside the United States, a legible copy of a rated, "on -board" commercial ocean bill -of -lading in English for each shipment of cargo described in the preceding paragraph to the Division of National Cargo, Office of Market Development, Maritime Administration, Washington, DC 20590 and to the FTA recipient (through the Consultant in the case of a subconsultant's bill -of -lading.) Exhibit E-6 17336.00603\31171937.1 546 3. To include these requirements in all subcontracts issued pursuant to this contract when the subcontract may involve the transport of equipment, material, or commodities by ocean vessel. 11. Buy America — Not applicable. 12. Employment Provisions To the extent applicable to the Services, Consultant shall comply with the following: A. Equal Employment Opportunity — Not applicable. B. Copeland "Anti -Kickback" Act (18 U.S.C. 874 and 40 U.S.C. 276c) —Not applicable. C. Contact Work Hours and Safety Standards Act (40 U.S.C. 327-333) —Not applicable. D. Release of Retainage No retainage will be withheld by the RCTC from progress payments due Consultant. Retainage by Consultant or subconsultants is prohibited, a%d no retainage will be held by the prime consultant from progress due subconsultants y violation of this provision shall subject the violating Consultant or subconsultants to the penalties, sanctions, and other remedies specified in Section 7108.5 of the California Business and Professions Code. This requirement shall not be construed to limit or impair any contractual, administrative, or judicial remedies, otherwise available to Consultant or subconsultant in the event of a dispute involving late 6ayment or nonpayment by Consultant or deficient subconsultant performance, or noncompliala by a s bconsultant. 13. Termination for Convenience RCTC may terminate the Agreement for convenience accors . ce wit ' e terms of the Agreement. After such termination, the Consultant shall submit a final terminatio lem proposal to RCTC as directed. If the Consultant fails to submit a proposal within the tim- s wed, RCTC may determine, on the basis of information available, the amount, if any due the Con ant because of the termination and shall pay the amount determined. After the Consultant's proposal is received, RCTC and Consultant shall negotiate a fair and equitable settlement and the contract will be modified to reflect the negotiated agreement. If agreement cannot be reached, RCTC may issue a final determination and pay the amount determined. If the Consultant does not agree with this final determination or the determination resulting from the lack of timely submission of a proposal, the Consultant may appeal under the Disputes clause. 14. Administrative and Contractual Remedies on Breach; Termination for Cause a. The Consultant may be declared in breach of this Agreement ("Breach") if the Consultant fails to make delivery of the supplies or to perform the services within the time specified herein or any extension thereof; or if the Consultant fails to perform any of the other provisions of the contract, or so fails to make progress as to endanger performance of this contract in accordance with its terms. In case of any of the foregoing, RCTC shall notify the Consultant of the Breach, and the Consultant shall have Exhibit E-7 17336.00603\31171937.1 547 a period of ten (10) days (or such longer period as RCTC may authorize in writing) after receipt of notice from RCTC to cure the Breach. b. RCTC may, by written notice of termination to the Consultant specifying the effective date thereof, terminate the whole or any part of this contract, in the case of a Breach that is not cured within the timeframe set forth in (a) above ("Uncured Breach"). c. If the contract is terminated in whole or in part for an Uncured Breach, RCTC may procure upon such terms and in such manner as RCTC may deem appropriate, supplies or services similar to those so terminated, or may complete the services with its own forces. The Consultant shall be liable to RCTC for any excess costs for such similar supplies or services, and for any other costs incurred by RCTC as a result of the Uncured Breach. The Consultant shall continue the performance of this contract to the extent not terminated under the provisions of this clause. d. Except with respect to defaults of Subconsultants, the Consultant shall not be liable for any excess costs if the failure to perform the contract arises out of causes beyond the control and without the fault or negligence of onsultant. If the failure to perform is caused by the default of a Subconsultant, and if suc fault arises out of causes beyond the control of both the Consultant and the Subconsultant, an hout the fault or negligence of either of them, the Consultant shall not be liable for any excess cos for failure to perfd n, unless the supplies or services to be furnished by the Subconsultant were obtainable -from other sourc s in sufficient time to permit the Consultant to meet the required project completion sc dule. e. Payment for completed services o supplies delivered to and accepted by RCTC shall be at the contract price. RCTC may withhold fro r amounts otherwise due the Consultant for such completed services or supplies such sum as RCTC determines to be necessary to protect RCTC against loss because of outstanding liens of claims of former lien holders, eimburse RCTC for any other costs related to the Uncured Breach. f. If, after notice of termination of this contract i'cause, is dete ed for any reason that an Uncured Breach did not exist, the rights and obligations of the parties sh. s e same as if the notice of termination had been issued pursuant to the provisions for termin nvenience of RCTC. g. The rights and remedies of RCTC provided in this clau shall not be exclusive and are in addition to any other rights and remedies provided by law, equity or under this contract including, but not limited to, the right to specific performance. h. Notwithstanding the above, RCTC may, without providing an opportunity to cure, terminate the contract in accordance with the timeframe set forth in Section 17 of the contract, if RCTC determines such action is in its best interest based on the nature of the Breach. Such actions shall not limit any of RCTC's remedies set forth above. 16. Disputes a. Except as otherwise provided in this Agreement, any dispute concerning a question of fact arising under this Agreement which is not disposed of by supplemental agreement shall be decided by RCTC's Deputy Executive Director, who shall reduce the decision to writing and mail or otherwise furnish a copy thereof to the Consultant. The decision of the RCTC Deputy Executive Exhibit E-8 17336.00603\31171937.1 548 Director shall be final and conclusive unless, within thirty (30) days from the date of receipt of such copy, Consultant mails or otherwise furnishes to the RCTC Deputy Executive Director a written appeal addressed to RCTC's Executive Director. The decision of RCTC Executive Director or duly authorized representative for the determination of such appeals shall be final and conclusive. b. The provisions of this Paragraph shall not be pleaded in any suit involving a question of fact arising under this Agreement as limiting judicial review of any such decision to cases where fraud by such official or his representative or board is alleged, provided, however, that any such decision shall be final and conclusive unless the same is fraudulent or capricious or arbitrary or so grossly erroneous as necessarily to imply bad faith or is not supported by substantial evidence. In connection with any appeal proceeding under this Paragraph, the Consultant shall be afforded an opportunity to be heard and to offer evidence in support of its appeal. c. Pending final decision of a dispute hereunder, Consultant shall proceed diligently with the performance of this Agreement and in accordance with the decision of RCTC's Deputy Executive Director. This "Disputes" clause toes not preclude consideration of questions of law in connection with decisions provided for above. Nothin in this Agreement, however, shall be construed as making final the decision of any RCTC official or'representative on a question of law, which questions shall be settled in accordance 4C the laws q the State of California. 17. Lobbying See the Byrd Anti -Lobbying AniVdmenT, 31 U.S.C. 1352, as amended by the Lobbying Disclosure Act of 1995, P.L. 104-65 [to be codified at 2 U.S.C. § l 01, et seq.] - Consultants who apply or bid for an award of $100,000 or more shad file the certif ation required by 49 CFR part 20, "New Restrictions on Lobbying." Each tier certifies to the tier above that it will not and has not used Federal appropriated funds to pay any person or organization for inf cing or attempting to influence an officer or employee of any agency, a member of Congress, offic r employee of Congress, or an employee of a member of Congress in connection4cit . s staining a ederal contract, grant or any other award covered by 31 U.S.C. 1352. Each tier sha . lso disclose th ne of any registrant under the Lobbying Disclosure Act of 1995 who has made lobbying contacts on its ehalf with non -Federal funds with respect to that Federal contract, grant or award cove d by U.S.C. 1352. Such disclosures are forwarded from tier to tier up to the recipient. The eror shall complete and submit with its bid/proposal the attached Certification Regarding Lobb g, and if applicable, the Standard Form-LLL, "Disclosure Form to Report Lobbying." 18. Energy Conservation The Consultant agrees to comply with mandatory standards and policies relating to energy efficiency which are contained in the state energy conservation plan issued in compliance with the Energy Policy and Conservation Act. 19. Clean Water a. The Consultant agrees to comply with all applicable standards, orders or regulations issued pursuant to the Federal Water Pollution Control Act, as amended, 33 U.S.C. 1251 et seq. The Consultant agrees to report each violation to RCTC and understands and agrees that RCTC will, in Exhibit E-9 17336.00603\31171937.1 549 turn, report each violation as required to assure notification to FTA and the appropriate EPA Regional Office. d. The Consultant further agrees that: (1) It will not use any violating facilities; (2) It will report the use of facilities placed on or likely to be placed on the U.S. EPA "List of Violating Facilities;" (3) It will report violations of use of prohibited facilities to FTA; and (4) It will comply with the inspection and other requirements of the Clean Air Act, as amended, (42 U.S.C. §§ 7401 — 7671q); and the Federal Water Pollution Control Act as amended, (33 U.S.C. §§ 1251-1387). The Consultant also agrees to include these requirements in each subcontract exceeding $150,000 financed in whole or in part with Federal assistance provided by FTA. 20. Clean Air a. The Consultant agrees to comply with all applicable standards, orders or regulations issued pursuant to the Clean Air'Act, as amended, 42 U.S.C. §§ 7401 et seq. The Consultant agrees to report each violation to RCTC and understands a t` . grees that RCTC will, in turn, report each violation as required to assure notification to FT nd th. .propriate EPA Regional Office. b. The Consultant fuVer agrees that: (1) It will not use any violating facilitie (2) It will report the use of facilities place be pla ed on the U.S. EPA "List of Violating Facilities;" (3) It will report violations of use of prohibited fac (4) It will comply with the inspection and other r ir= • f the an Air Act, as amended, (42 U.S.C. §§ 7401 — 7671q); and the Federal Water Po tion • rol A amended, (33 U.S.C. §§ 1251-1387). c. The Consultant also agrees to include these requireme each subcontract exceeding $150,000 financed in whole or in part with Federal assistance p ided by FTA. 21. Recycled Products Recovered Materials - The Consultant agrees to comply with all the requirements of Section 6002 of the Resource Conservation and Recovery Act (RCRA), as amended (42 U.S.C. 6962), including but not limited to the regulatory provisions of 40 CFR Part 247, and Executive Order 12873, as they apply to the procurement of the items designated in Subpart B of 40 CFR Part 247. 21. SPECIAL PROVISION FOR PROMOTING COVID-19 SAFETY Section 49. Centers for Disease Control and Prevention Order on Requirements for Persons to Wear Masks While on Conveyances and at Transportation Hubs. Exhibit E-10 17336.00603\31171937.1 550 (a) Compliance with CDC Mask Order. The Centers for Disease Control and Prevention ("CDC") Order of January 29, 2021, titled Requirement for Persons to Wear Masks While on Conveyances and at Transportation Hubs ("CDC Mask Order"), applies to this Agreement. One of the objectives of the CDC Mask Order is "[m]aintaining a safe and operating transportation system." Consultant agrees that it will comply, and will require all subconsultants to comply, with the CDC Mask Order, to the extent the CDC Mask Order remains in effect. (b) Enforcement for non-compliance. Consultant agrees that FTA and RCTC may take enforcement action for non-compliance with the CDC Mask Order, to the extent the CDC Mask Order remains in effect, including: (1) enforcement actions authorized by 49 U.S.C. § 5329(g); (2) referring Consultant to the CDC or other Federal authority for enforcement action; (3) enforcement actions authorized by 2 CFR §§ 200.339 — .340; and (4) any other enforcement action authorized by Federal law or regulation. 22. Safe Operation of Motor Vehicles Pursuant to Federal Executive Girder No. 13043, "Increasing Seat Belt Use in the United States," April 16, 1997, 23 U.S.C. Section 402 note, FTA encourages each third party consultant to adopt and promote on-the-job seat belt use policies and programs for its employees and other personnel that operate company owned, rented, or personally operated vehicles, and to include this provision in each third party subcontract involving the project. a. The Consultant is encouraged to adopt and promote on-the-job seat belt use policies and programs for its employees and other personnel that operate company -owned vehicles, company -rented vehicles, or personally operated vehicles. The terms "compan - ed" and "company -leased" refer to vehicles owned or leased either by the Consultai4t or RCTC. b. The Consultant agrees to adopt and enforce wo place safety policies to decrease crashes caused by distracted drivers, including policies to ban text rryrting while using an electronic device supplied by an employer, and driving a vehicle the drive wns or rents, a vehicle Contactor owns, leases, or rents, or a privately -owned vehicle when on official busing in connection with the work performed under this contract. 23. Notification to FTA. a. If a current or prospective legal matter that may affect the Feder a overnment emerges, the Consultant must promptly notify the FTA Chief Counsel and FTA Regional Counsel for the Region in which this Agreement is being performed. The types of legal matters that require notification include, but are not limited to, a major dispute, breach, default, litigation, or naming the Federal Government as a party to litigation or a legal disagreement in any forum for any reason. b. Matters that may affect the Federal Government include, but are not limited to, the Federal Government's interests in the Award, the accompanying Underlying Agreement, and any Amendments thereto, or the Federal Government's administration or enforcement of federal laws, regulations, and requirements. c. Additional Notice to U.S. DOT Inspector General. The Consultant must promptly notify the U.S. DOT Inspector General in addition to the FTA Chief Counsel or Regional Counsel for the Region in which the Commission located, if Consultant has knowledge of potential fraud, waste, or abuse occurring on a Project receiving assistance from FTA. The notification provision applies if a person has or may have submitted a false claim under the False Claims Act, 31 U.S.C. § 3729, et seq., or has or may have committed a criminal or civil Exhibit E-11 17336.00603\31171937.1 551 violation of law pertaining to such matters as fraud, conflict of interest, bid rigging, misappropriation or embezzlement, bribery, gratuity, or similar misconduct involving federal assistance. Knowledge, as used in this paragraph, includes, but is not limited to, knowledge of a criminal or civil investigation by a Federal, state, or local law enforcement or other investigative agency, a criminal indictment or civil complaint, or probable cause that could support a criminal indictment, or any other credible information in the possession of the Consultant. In this paragraph, "promptly" means to refer information without delay and without change. 24. Prohibition on Certain Telecommunications and Video Surveillance Services or Equipment Consultant shall not contract (or extend or renew a contract) to procure or obtain equipment, services, or systems that uses covered telecommunications equipment or services as a substantial or essential component of any system, or as critical technology as part of any system funded under this Contract. As described in Public Law 115-232, section 889, covered telecommunications equipment is telecommunications equipment produced by Huawei Technologies Company or ZTE Corporation (or any subsidiary or affiliate of such entities). a. For the purpose of public safe infrastructure, and other natio produced by Hytera Co Dahua Technology Co b. Telecommunications or ecurity of government facilities, physical security surveillance of critical ty purposes, video surveillance and telecommunications equipment rporation, Hangzhou Hikvision Digital Technology Company, or idia or affiliate of such entities). ces provided by such entities or using such equipment. c. Telecommunications or video s lam qui ent or services produced or provided by an entity that the Secretary of Defense, in consultation with the IDirettor of the National Intelligence or the Director of the Federal Bureau of Investigation, reasonably believes be an e, ied or controlled by, or otherwise connected to, the government of a covered foreign coun Exhibit E-12 17336.00603\31171937.1 552 EXHIBIT "F" — LOBBYING ACTIVITIES DISCLOSURE Exhibit F-1 17336.00603\31171937.1 553 Local Assistance Procedures Manual EXHBIT 10-Q Not Applicable Disclosure of Lobbying Activities ExIIaBIT 10-Q DISCLOSURE OF LOBBYING ACTIVITIES COMPLETE THIS FORM TO DISCLOSE LOBBYING ACTIVITIES PURSUANT TO 31 U.S.C. 1352 1. Type of Federal Action: a. contract b. grant c. cooperative agreement d. loan e. loan guarantee f. loan insurance 2. Status of Federal Action: 3. Report Type: ❑ a bid/offer/application b. initial award c. post -award a. initial b. material change For Material Change Only: year quarter date of last report 4. Name and Address of Reporting Entity 5. If Reporting Entity in No. 4 is Subawardee, Enter Name and Address of Prime: n Prime r]Subawardee Tier , if known Congressional District, if . Congressional District, if known 6. Federal Department/A 8. Federal Action 10. Name and Address of L (If individual, last name, first na 7. Federal Program Name/Description: CFDA Number, if applicable 9. Award Amount, if known: 11. Individuals Performing Services (including address if different from No. 10) (last name, first name, MI) (attach • inuation S necessary) 12. Amount of Payment (check all that ap ,) Type of Payment (check all that apply) 5 ri actual n planned -tainer time fee 13. Form of Payment (check all that apply): c. co ion Ba. cash conting fee b. in -kind; specify: nature e . eferred Value f. other, spec 15. Brief Description of Services Performed or to be performed and Date(s) + ` ice, ' i uding officer(s), employee(s), or member(s) contacted, for Payment Indicate s tem 12: 16. Continuation Sheet(s) attached: 17. Information requested through this form is authorized by Title 31 U.S.C. Section 1352. This disclosure of lobbying reliance was placed by the tier above when his transaction was made or entered into. This disclosure is required pursuant to 31 U.S.C. 1352. This information will be reported to Congress semiannually and will be available for public inspection. Any person who fails to file the required disclosure shall be subject to a civil penalty of not less than $10,000 and not more than $100,000 for each such failure. Federal Use Only: (attach Continuation Sheet(s) if necessary) Yes n No �? Signature: Print Name: C. Yoga Chandran, PhD, PE, GE Title: Vice President TelephoneNo.: (213) 337-2144 Date: 07/14/2022 Authorized for Local Reproduction Standard Form - LLL Standard Form LLL Rev. 04-28-06 Distribution: Orig- Local Agency Project Files Page 1 LPP 13-01 554 May 8, 2013 ATTACHMENT 3 Agreement No. 22-31-104-00 PROFESSIONAL SERVICES AGREEMENT WITH PROPOSITION 1 B, FTA AND FHWA FUNDING ASSISTANCE RIVERSIDE COUNTY TRANSPORTATION COMMISSION AGREEMENT WITH ICF JONES & STOKES, INC. FOR ON -CALL ENVIRONMENTAL CONSULTING SERVICES Parties and Date. This Agreement is made and entered into this day of , 2022, by and between the RIVERSIDE COUNTY TRANSPORTATION COMMISSION ("the Commission") and ICF JONES & STOKES, INC. ("Consultant"), a Corporation. The Commission and Consultant are sort mes referred to herein individually as "Party", and collectively as the "Parties" Recitals. A. On November 8, 1988 the Voters of Riverside County approved Measure A authorizing the collection of a one-half percent (1/2 %) retail transactions and use tax (the "tax") to fund transportation programs and improvements within the County of Riverside, and adopting the Riverside County Transportation Improvement Plan (the "Plan"). B. Pursuant to Public Utility Code Sections 240000 et seq., the Commission is authorized to allocate the proceeds of the Tax in furtherance of the Plan. C. On November 5, 2002, the voters of Riverside County approved an extension of the Measure A tax for an additional thirty (30) years for the continued funding of transportation and improvements within the County of Riverside. D. A source of funding for payment for on -call professional consulting services provided under this Agreement may be State Proposition 1B funds, Federal Highway Administration Funds ("FHWA") administered by the California Department of Transportation ("Caltrans"), and/or funds from the Federal Transit Administration ("FTA"). E. Consultant desires to perform and assume responsibility for the provision of certain on -call environmental consulting services in the County of Riverside, California. Services shall be provided on the terms and conditions set forth in this Agreement and in the task order(s) to be issued pursuant to this Agreement and executed by the Commission and the Consultant ("Task Order"). Consultant represents that it is experienced in providing such services to public clients, is licensed in the State of California (if necessary), and is familiar with the plans of the Commission. 555 F. The Commission desires to engage Consultant to render such services on an on -call basis. Services shall be ordered by Task Order(s) to be issued pursuant to this Agreement for future projects as set forth herein and in each Task Order (each such project shall be designated a "Project" under this Agreement). Terms. 1. General Scope of Services. Consultant shall furnish all technical and professional services, including labor, material, equipment, transportation, supervision and expertise, and incidental and customary work necessary to fully and adequately supply the on -call environmental consulting services for the Projects ("Services"). The Services are generally described in Exhibit "A" attached hereto and incorporated herein by reference. The Services shall be more particularly described in the individual Task Orders issued by the Commission's Executive Director or designee. No Services shall be performed unless authorized by a fully exec in accordance with, this and incorporated her and regulations. ask Order. All Services shall be subject to, and performed t, the relevant Task Order, the exhibits attached hereto ce, and all applicable local, state and federal laws, rules 2. Commenc t o =rvic The Consultant shall commence work upon receipt of a written "Notice to ' c " or %'imited Notice to Proceed" from Commission. 3. Pre -Award Audit. As sult of t •eral funding for this Project, and to the extent Caltrans procedures apply c• - • therewith, issuance of a "Notice to Proceed" may be contingent upon c• d app oval of a pre -award audit. Any questions raised during the pre -award audit be r d before the Commission will consider approval of this Agreement. The f; -ral pro d under this Agreement is contingent on meeting all Federal requireme s c d be drawn, thereby entitling the Commission to terminate this Agreement, i e pro dures not completed. The Consultant's files shall be maintained in a manner to facilitate F and State process reviews. In addition, the applicable federal agency, or Caltra ting behalf of a federal agency, may require that prior to performance of work for which Federal reimbursement is requested and provided, that said federa gency or Caltrans must give to Commission an "Authorization to Proceed". 4. Audit Procedures. Consultant and subconsultant contracts, including cost proposals and ICR, are subject to audits or reviews such as, but not limited to, a contract audit, an incurred cost audit, an Independent Cost Review (ICR) Audit, or a CPA ICR audit work paper review. If selected for audit or review, this Agreement, Consultant's cost proposal and ICR and related work papers, if applicable, will be reviewed to verify compliance with 48 CFR, Part 31 and other related laws and regulations. In the instances of a CPA ICR audit work paper review it is Consultant's responsibility to ensure federal, state, or local government officials are allowed full access to the CPA's work papers including making copies as necessary. This Agreement, Consultant's cost proposal, and ICR shall be adjusted by Consultant and approved by the Commission's contract manager to conform to the audit or review recommendations. Consultant agrees that individual terms of costs identified in the audit report shall be incorporated into this Agreement by this 556 reference if directed by Commission at its sole discretion. Refusal by Consultant to incorporate audit or review recommendations, or to ensure that the federal, state or local governments have access to CPA work papers, will be considered a breach of the Agreement terms and cause for termination of this Agreement and disallowance of prior reimbursed costs. Additional audit provisions applicable to this Agreement are set forth in Sections 23 and 24 of this Agreement. 5. Term. 5.1 This Agreement shall go into effect on the date first set forth above, contingent upon approval by Commission, and Consultant shall commence work after notification to proceed by Commission's Contract Administrator. This Agreement shall end three years from the date set forth above, unless extended by contract amendment. The Commission shall have the option to extend the term for one, two-year option. In no case shall the term of this Agr, uu_-nt exceed five (5) years. All Task Order work should be completed within the t 5.2 not binding on Com Commission. ad ised that any recommendation for contract award is reement is fully executed and approved by the 5.3 This A• eme unless earlier terminated as provi within the term of this Agreement, deadlines. All applicable indemni effect following the termination of this Agree emain in effect until the date set forth above, herein ' •nsultant shall complete the Services s. any other established schedules and ons o this Agreement shall remain in 6. Commission's Contract Admini a W Co ' ' R ission hereby designates the Commission's Executive Director, or his her igne_- .o act as its Contract Administrator for the performance of this Agreement ( ission's Contract Administrator"). Commission's Contract Administrator shall the uthority to act on behalf of the Commission for all purposes under this Agree t. Commission's Contract Administrator shall also review and give approval, as need` , to the details of Consultant's work as it progresses. Consultant shall not accept direction or orders from any person other than the Commission's Contract Administrator or his or her designee. 7. Consultant's Representative. Consultant hereby designates Court Morgan to act as its Representative for the performance of this Agreement ("Consultant's Representative"). Consultant's Representative shall have full authority to act on behalf of Consultant for all purposes under this Agreement. The Consultant's Representative shall supervise and direct the Services, using his or her professional skill and attention, and shall be responsible for all means, methods, techniques, sequences and procedures and for the satisfactory coordination of all portions of the Services under this Agreement. Consultant shall work closely and cooperate fully with Commission's Contract Administrator and any other agencies which may have jurisdiction over, or an interest in, the Services. Consultant's Representative shall be available to the Commission staff at all reasonable 557 times. Any substitution in Consultant's Representative shall be approved in writing by Commission's Contract Administrator. 8. Substitution of Key Personnel. Consultant has represented to the Commission that certain key personnel will perform and coordinate the Services under this Agreement. Should one or more of such personnel become unavailable, Consultant may substitute other personnel of at least equal competence upon written approval by the Commission. In the event that the Commission and Consultant cannot agree as to the substitution of the key personnel, the Commission shall be entitled to terminate this Agreement for cause, pursuant to the provisions herein. The key personnel for performance of this Agreement are: Court Morgan, Emily Czaban, Monica Corpuz, Peter Hardie, Greg Hoisington, Megan Jameson, and Keith Lay, or as otherwise identified in the Task Order. 9. Standard of Care; Licenses. Consultant represents and maintains that it is skilled in the professional calling necessary to perform all Services, duties and obligations required by this Agreement to fully and adequately complete the Project. Consultant shall perform the Services and duties in conformance to and consistent with the standards generally recognized as being employed by professionals in the same discipline in the State of California. Consultant warrants that all employees and subcontractors shall have sufficient skill and experience to perform the Services assigned to them. Consultant further represents and warrants to the Commission that its employees and subcontractors have all licenses, permits, qualifications and approvals of whatever nature that are legally required to perform the Services, and that such licenses and approvals shall be maintained throughout the term of this Agreement. Consultant shall perform, at its own cost and expense and without reimbursement from the Commission, any services necessary to correct errors or omissions which are caused by the Consultant's failure to comply with the standard of care provided for herein, and shall be fully responsible to the Commission for all damages and other liabilities provided for in the indemnification provisions of this Agreement arising from the Consultant's errors and omissions. Any employee of Consultant or its sub -consultants who is determined by the Commission to be uncooperative, incompetent, a threat to the adequate or timely completion of the Project, a threat to the safety of persons or property, or any employee who fails or refuses to perform the Services in a manner acceptable to the Commission, shall be promptly removed from the Project by the Consultant and shall not be re-employed to perform any of the Services or to work on the Project. 10. Independent Contractor. The Services shall be performed by Consultant or under its supervision. Consultant will determine the means, methods and details of performing the Services subject to the requirements of this Agreement. Commission retains Consultant on an independent contractor basis and not as an employee, agent or representative of the Commission. Consultant retains the right to perform similar or different services for others during the term of this Agreement. Any additional personnel performing the Services under this Agreement on behalf of Consultant shall at all times be under Consultant's exclusive direction and control. Consultant shall pay all wages, salaries and other amounts due such personnel in connection with their performance of Services and as required by law. Consultant shall be responsible for all reports and obligations 558 respecting such personnel, including but not limited to, social security taxes, income tax withholdings, unemployment insurance, disability insurance, and workers' compensation insurance. 11. Task Orders; Commencement of Services; Schedule of Services. Consultant shall commence Services under a Task Order within five (5) days of receiving a fully executed Task Order from the Commission. Each Task Order shall identify the funding source(s) to be used to fund the Services under the relevant Task Order, and Consultant shall comply with the requirements specified herein, and in the attached exhibits, applicable to the identified funding source(s). Consultant shall perform the Services expeditiously, within the term of this Agreement, and in accordance with any schedule of Services set forth in a Task Order ("Schedule"). Consultant represents that it has the professional and technical personnel to perform the Services in formance with such conditions. In order to facilitate Consultant's conforman ith Schedule, the Commission shall respond to Consultant's submittals in a time) anner. pon request of Commission's Contract Administrator, Consultant shall pr e a mor- tai -d schedule of anticipated performance to meet the Schedule of Services. 11.1 Modifica o' S dule. Consultant shall regularly report to the Commission, through corre•onde, progress reports, its progress in providing required Services within the sche•;: ed time +ds. Commission shall be promptly informed of all anticipated delays. I e = Consultant determines that a schedule modification is necessary, Consultant • y sub 't a revised Schedule of Services for approval by Commission's Contract Admi 11.2 Trend Meetings. Cons t.,, h- con• trend meetings with the Commission's Contract Administrator and oth- intere=-d pa as requested by the Commission, on a bi-weekly basis or as may be mutually sch by the Parties at a standard day and time. These trend meetings will enco s fo sed and informal discussions concerning scope, schedule, and current pro s of Services, relevant cost issues, and future Project objectives. Consultant shall be esponsible for the preparation and distribution of meeting agendas to be received by the Commission and other attendees no later than three (3) working days prior to the meeting. 11.3 Progress Reports. As part of its monthly invoice, Consultant shall submit a progress report, in a form determined by the Commission, which will indicate the progress achieved during the previous month in relation to the Schedule of Services. Submission of such progress report by Consultant shall be a condition precedent to receipt of payment from the Commission for each monthly invoice submitted. 12. Delay in Performance. 12.1 Excusable Delays. Should Consultant be delayed or prevented from the timely performance of any act or Services required by the terms of the Agreement by reason of acts of God or of the public enemy, acts or omissions of the Commission or 559 other governmental agencies in either their sovereign or contractual capacities, fires, floods, epidemics, quarantine restrictions, strikes, freight embargoes or unusually severe weather, performance of such act shall be excused for the period of such delay. 12.2 Written Notice. If Consultant believes it is entitled to an extension of time due to conditions set forth in subsection 12.1, Consultant shall provide written notice to the Commission within seven (7) working days from the time Consultant knows, or reasonably should have known, that performance of the Services will be delayed due to such conditions. Failure of Consultant to provide such timely notice shall constitute a waiver by Consultant of any right to an excusable delay in time of performance. 12.3 Mutual Agreement. Performance of any Services under this Agreement may be delayed upon mutual agreement of the Parties. Upon such agreement, Consultant's Schedule of Services shall be extended as necessary by the Commission. Consultant -il ir`- take all reasonable steps to minimize delay in completion, and additional costs, rm any such extension. 13. Preli ry Revie ' . of ork. All reports, working papers, and similar work products prepared fo • mi i • urse of providing Services under this Agreement shall be submitted to t - " m ril( ' ion ontract Administrator in draft form, and the Commission may require revi r > s _ uc _^rafts prior to formal submission and approval. In the event plans and desig are eveloped as part of the Project, final detailed plans and designs shall be continge r ' upon ob g environmental clearance as may be required in connection with Feder H un• E e event that Commission's Contract Administrator, in his or her sole discre , • nes th formally submitted work product to be not in accordance with the standard are fished under this Agreement, Commission's Contract Administrator may r- ;;'ire sul to revise and resubmit the work at no cost to the Commission. 14. Appearance at Hearings. If and when requir the Commission, Consultant shall render assistance at public hearings or of me- gs related to the Project or necessary to the performance of the Services. H•: ver, Consultant shall not be required to, and will not, render any decision, interpretatio`` or recommendation regarding questions of a legal nature or which may be construed as constituting a legal opinion. 15. Opportunity to Cure; Inspection of Work. Commission may provide Consultant an opportunity to cure, at Consultant's expense, all errors and omissions which may be disclosed during Project implementation. Should Consultant fail to make such correction in a timely manner, such correction may be made by the Commission, and the cost thereof charged to Consultant. Consultant shall allow the Commission's Contract Administrator, Caltrans and FHWA to inspect or review Consultant's work in progress at any reasonable time. 16. Claims Filed by Contractor. 16.1 If claims are filed by the Commission's contractor for the Project ("Contractor") relating to work performed by Consultant's personnel, and additional 560 information or assistance from the Consultant's personnel is required by the Commission in order to evaluate or defend against such claims; Consultant agrees to make reasonable efforts to make its personnel available for consultation with the Commission's construction contract administration and legal staff and for testimony, if necessary, at depositions and at trial or arbitration proceedings. 16.2 Consultant's personnel that the Commission considers essential to assist in defending against Contractor claims will be made available on reasonable notice from the Commission. Consultation or testimony will be reimbursed at the same rates, including travel costs that are being paid for the Consultant's personnel services under this Agreement. 16.3 Services of the Consultant's personnel and other support staff in connection with Contractor claims will be performed pursuant to a written contract amendment, if necessa ending the termination date of this Agreement in order to finally resolve the clai 16.4 othing c• : "ain-_• in this Section shall be construed to in any way limit Consultant's indem contained in Section 29. In the case of any conflict between this S- any -ctio •9, Section 29 shall govern. This Section is not intended to obligate the Co eimburse Consultant for time spent by its personnel related to Contra r clai hich Consultant is required to indemnify and defend the Commission pursuant t ection this Agreement. 17. Final Acceptance. Up• - ion by the Commission that Consultant has satisfactorily completed the Services re • -d u is Agreement and within the term set forth herein the Commission shall t a written Notice of Final Acceptance. Upon receipt of such notic -nt s -R, incur no further costs hereunder, unless otherwise specified in the N. e of :I Acc - nce. Consultant may request issuance of a Notice of Final Acceptance when, in its o it has satisfactorily completed all Services required under the terms of this Agree ► In =`e event copyrights are permitted under this Agreement, then in connection wi ederal funding, it is hereby acknowledged and agreed that the United States Departm t of Transportation shall have the royalty -free non-exclusive and irrevocable right to reproduce, publish, or otherwise use, and to authorize others to use, the work for governmental purposes. 18. Laws and Regulations. Consultant shall keep itself fully informed of and in compliance with all local, state and federal laws, rules and regulations in any manner affecting the performance of the Project or the Services, including all Cal/OSHA requirements, and shall give all notices required by law. For example, and not by way of limitation, Consultant shall keep itself fully informed of and in compliance with all implementing regulations, design standards, specifications, previous commitments that must be incorporated in the design of the Project, and administrative controls including those of the United States Department of Transportation. Compliance with Federal procedures may include completion of the applicable environmental documents and approved by the United States Department of Transportation. For example, and not by way of limitation, a signed Categorical Exclusion, Finding of No Significant Impact, or published 561 Record of Decision may be required to be approved and/or completed by the United States Department of Transportation. For Consultant shall be liable for all violations of such laws and regulations in connection with Services. If the Consultant performs any work knowing it to be contrary to such laws, rules and regulations and without giving written notice to the Commission, Consultant shall be solely responsible for all costs arising therefrom. Consultant shall defend, indemnify and hold Commission, its officials, directors, officers, employees and agents free and harmless, pursuant to the indemnification provisions of this Agreement, from any claim or liability arising out of any failure or alleged failure to comply with such laws, rules or regulations. 19. Fees and Payment. 19.1 The method of payment for this Agreement will be based on actual cost plus a fixed fee. Commission shall reimburse Consultant for actual costs (including labor costs, employee be r uii,, , travel, equipment rental costs, overhead and other direct costs) incurred by Co an . performance of the Services. Consultant shall not be reimbursed for actu. osts th ':„exceed the estimated wage rates, employee benefits, travel, equipment d, d other estimated costs set forth in the approved Consultant cost pro to as Exhibit "B" and incorporated herein by reference, or any cost p : •sal Ude• part of a Task Order ("Cost Proposal") unless additional reimbursement is •v . . fo •y written amendment. The overhead rates included in the attached Exh •it "B" •e fixed for the term of the Master Agreement, and shall not be subject to adjustm: , unless red by the applicable funding source. In In no event, shall Consultant be i : overhead costs at a rate that exceeds Commission's approved overhead r.' s- . • in the ost Proposal. In the event that Commission determines that a change to t" erv' m that specified in the Cost Proposal, this Agreement or any Task Ord s r red, Agreement time or actual costs reimbursable by Commission sha a ed written amendment to accommodate the changed work. The maxim total st as cified in Section 19.8 shall not be exceeded, unless authorized by a written amend 19.2 In addition to the allowable incurre., _:fists, Commission shall pay Consultant a fixed fee to be set forth in each Task Order `` ` ixed Fee"). The Fixed Fee is nonadjustable for each Task Order, except in the event of a significant change in the Scope of Services, and such adjustment is made by written amendment. 19.3 Reimbursement for transportation and subsistence costs shall not exceed the rates specified in the approved Cost Proposal. In addition, payments to Consultant for travel and subsistence expenses claimed for reimbursement or applied as local match credit shall not exceed rates authorized to be paid exempt non -represented State employees under current State Department of Personnel Administration (DPA) rules, unless otherwise authorized by Commission. If the rates invoiced are in excess of those authorized DPA rates, and Commission has not otherwise approved said rates, then Consultant is responsible for the cost difference and any overpayments shall be reimbursed to the Commission on demand. 562 19.4 When milestone cost estimates are included in the approved Cost Proposal for a Task Order, Consultant shall obtain prior written approval for a revised milestone cost estimate from the Contract Administrator before exceeding such cost estimate. 19.5 Progress payments shall be made monthly in arrears based on Services provided and allowable incurred costs. A pro rata portion of the Fixed Fee shall be included in the monthly progress payments. If Consultant fails to submit the required deliverable items according to the schedule set forth in the Scope of Services, Commission shall have the right to delay payment or terminate this Agreement in accordance with the provisions of Section 21, Termination. 19.6 No payment shall be made prior to approval of any Services, nor for any Services performed prior to approval of this Agreement. 19.7 C permit upon receipt triplicate. Invoices of work for which C milestone and each pro approved Cost Proposal and invoice must contain the al co equipment purchased under the E final invoice should be submitted w work. Invoices shall be mailed to C address: hall be reimbursed, as promptly as fiscal procedures will sion's Contract Administrator of itemized invoices in ted . o later than 45 calendar days after the performance voices shall detail the work performed on each voices shall follow the format stipulated for the this Agreement number and project title. Final all credits due Commission including any se provisions of this Agreement. The r days after completion of Consultant's Contract Administrator at the following Riverside County Transportation Commissi Attention: Accounts Payable P.O. 12008 Riverside, CA 92502 19.8 The total amount payable by Comm ion, including the Fixed Fee, shall not exceed the amount set forth in each Task Order. 19.9 Commission has or will enter into four (4) task order contracts for performance of the Scope of Services identified in Exhibit "A", including this Agreement ("Environmental Services Task Order Contracts"). The other Environmental Services Task Order Contracts are GPA Consulting, HNTB Corporation, and Stantec Consulting Services, Inc. The total amount payable by Commission for the Environmental Services Task Order Contracts shall not exceed a cumulative maximum total value of Three Million Dollars ($3,000,000) ("NTE Sum"). It is understood and agreed that there is no guarantee, either expressed or implied that this dollar amount will be authorized under the Environmental Services Task Order Contracts through Task Orders. Each time a Task Order is awarded under any of the Environmental Services Task Order Contracts, Commission must send written notification to Consultant and each of the other consultants entering into the Environmental Services Task Order Contracts. The notice must identify 563 the total funds allocated under issued Task Orders, and the remaining unencumbered amount of the NTE Sum. Consultant acknowledges and agrees that Commission must not pay any amount under this Agreement that would exceed the NTE Sum, and Consultant must not enter into a Task Order that exceeds the NTE Sum. 19.10 Salary increases shall be reimbursable if the new salary is within the salary range identified in the approved Cost Proposal and is approved by Commission's Contract Administrator. For personnel subject to prevailing wage rates as described in the California Labor Code, all salary increases, which are the direct result of changes in the prevailing wage rates are reimbursable. 19.11 Consultant shall not be reimbursed for any expenses unless authorized in writing by the Commission's Contract Administrator. 19.12 All s •ntracts in excess of $25,000 shall contain the above provisions. 20.1 Any disp , audit, concerning a question of fact arising under this Agreement that i .t dis .f by mutual agreement of the Parties shall be decided by a committee consisting RCTC's ► tract Administrator and the Director of Capital Projects, who may conside ritte - :I information submitted by Consultant. 20.2 Not later than 30 day Agreement, Consultant may request review unresolved claims or disputes, other than au writing. tion of all Services under this sion's Executive Director of eview will be submitted in 20.3 Neither the pendency of a dispute, no committee will excuse Consultant from full and timely perfor terms of this Agreement. 21. Termination. sideration by the ce in accordance with the 21.1 Commission reserves the right to terminate this Agreement upon thirty (30) calendar days written notice to Consultant, for any or no reason, with the reasons for termination stated in the notice. Commission may terminate Services under a Task Order, at any time, for any or no reason, with the effective date of termination to be specified in the notice of termination of Task Order. 21.2 Commission may terminate this Agreement with Consultant should Consultant fail to perform the covenants herein contained at the time and in the manner herein provided. In the event of such termination, Commission may proceed with the Services in any manner deemed proper by Commission. If Commission terminates this Agreement with Consultant, Commission shall pay Consultant the sum due to Consultant under this Agreement for Services completed and accepted prior to termination, unless the 564 cost of completion to Commission exceeds the funds remaining in the Agreement. In such case, the overage shall be deducted from any sum due Consultant under this Agreement and the balance, if any, shall be paid to Consultant upon demand. 21.3 In addition to the above, payment upon termination shall include a prorated amount of profit, if applicable, but no amount shall be paid for anticipated profit on unperformed Services. Consultant shall provide documentation deemed adequate by Commission's Contract Administrator to show the Services actually completed by Consultant prior to the effective date of termination. This Agreement shall terminate on the effective date of the Notice of Termination 21.4 Upon receipt of the written Notice of Termination, Consultant shall discontinue all affected Services as directed in the Notice or as otherwise provided herein, and deliver to the Commission all Documents and Data, as defined in this Agreement, as may have been prepared accumulated by Consultant in performance of the Services, whether completed or ' •ro• ',s. 21.5 for any reasonable the Commission has Commission has determined complete the Project beca it d Agreement. Termination of this Commission in determining wheth bove, Consultant shall be liable to the Commission red by the Commission to revise work for which ultant under this Agreement, but which the etion needs to be revised, in part or whole, to eet the standard of care established in this reemen cause may be considered by the uture agreements with Consultant. 21.6 The rights and remedie he P ; ! provided in this Section are in addition to any other rights and remedies pr' 'de• la under this Agreement. 21.7 Consultant, in executing Agr ent, II be deemed to have waived any and all claims for damages which may otherwise ari : the Commission's termination of this Agreement, for convenience or cause, as _ id - i ®in this Section. 21.8 Consultant may not terminate this A i -ement except for cause. 22. Cost Principles and Administrative Requirements. 22.1 Consultant agrees that the Contract Cost Principles and Procedures, 48 CFR, Federal Acquisition Regulations System, Chapter 1, Part 31.000 et seq., shall be used to determine the cost allowability of individual items. 22.2 Consultant also agrees to comply with federal procedures in accordance with 2 CFR, Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. 22.3 Any costs for which payment has been made to CONSULTANT that are determined by subsequent audit to be unallowable under 2 CFR, Part 200 and 48 CFR, Federal Acquisition Regulations System, Chapter 1, Part 31.000 et seq., are subject to repayment by Consultant to Commission. 565 22.4 All subcontracts in excess of $25,000 shall contain the above provisions. 23. Retention of Records/Audit. For the purpose of determining compliance with, as applicable, 2 CFR Part 200, Public Contract Code 10115, et seq. and Title 21, California Code of Regulations, Chapter 21, Section 2500 et seq., when applicable and other matters connected with the performance of this Agreement pursuant to Government Code 8546.7; Consultant, subconsultants, and Commission shall maintain and make available for inspection all books, documents, papers, accounting records, and other evidence pertaining to the performance of this Agreement, including but not limited to, the costs of administering this Agreement. All parties shall make such materials available at their respective offices at all reasonable times during the Agreement period and for three years from the date of final payment under this Agreement. The State, State Auditor, Commission, FHWA, or a duly authorized representative of the State or Federal Government shall have a to any books, records, and documents of Consultant and it's certified public acco nts 'A) work papers that are pertinent to this Agreement and indirect cost rates (I for and""` examinations, excerpts, and transactions, and copies thereof shall be fur if req ,.;.te• ubcontracts in excess of $25,000 shall contain this provision. 23.1 Account! , :� ;: nsultantand its subcontractors shall establish and maintain an accounting s stem ,; > cords that properly accumulate and segregate expenditures by line item for the Se ,' ces. T ounting system of Consultant and its subcontractors shall conform to Ge �all �� � p .�� Accounting Principles (GAAP), enable the determination of incurred costs of -ri o' s of c pletion, and provide support for reimbursement payment vouchers or invoice 24. Audit Review Procedures. 24.1 Any dispute concerning a question of fact post audit of this Agreement that is not disposed of by agre Commission's Chief Financial Officer. under an interim or nt, s ` all be reviewed by 24.2 Not later than 30 days after issuance of the final audit report, Consultant may request a review by Commission's Chief Financial Officer of unresolved audit issues. The request for review shall be submitted in writing. 24.3 Neither the pendency of a dispute nor its consideration by Commission shall excuse Consultant from full and timely performance, in accordance with the terms of this Agreement. 25. Subcontracting. 25.1 Nothing contained in this Agreement or otherwise, shall create any contractual relation between Commission and any subconsultant(s), and no subcontract shall relieve Consultant of its responsibilities and obligations hereunder. Consultant agrees to be as fully responsible to Commission for the acts and omissions of its subconsultant(s) 566 and of persons either directly or indirectly employed by any of them as it is for the acts and omissions of persons directly employed by Consultant. Consultant's obligation to pay its subconsultant(s) is an independent obligation from Commission's obligation to make payments to the Consultant. 25.2 Consultant shall perform the Services contemplated with resources available within its own organization and no portion of the Services pertinent to this Agreement shall be subcontracted without written authorization by Commission's Contract Administrator, except that, which is expressly identified in the approved Cost Proposal. 25.3 Consultant shall pay its subconsultants within ten (10) calendar days from receipt of each payment made to Consultant by Commission. 25.4 Any subcontract in excess of $25,000 entered into as a result of this Agreement shall contain _- provisions stipulated in this Agreement to be applicable to subconsultants. 25.5 ny subst' ion of subconsultant(s) must be approved in writing by Commission's Cont . Ad .tr. for to the start of work by the subconsultant(s). 25.6 Exhibit " bill the Consultant for Servic to Consultant. Additional Direct Co the Consultant and all subconsult Task Order. The subconsultant rate accounting purposes only. 26. Equipment Purchase h the rates at which each subconsultant shall subject to reimbursement by the Commission , as defin - ► 'n Exhibit "B" shall be the same for both erwise identified in Exhibit "B" or in a cost proposals contained herein are for 26.1 Prior authorization, in writing, by Commissio ontract Administrator shall be required before Consultant enters into any unbu• a rchase order, or subcontract for supplies, equipment, or services. Consultan :11 provide an evaluation of the necessity or desirability of incurring such costs. 26.2 For purchase of any item, service or consulting work not covered in the Cost Proposal and exceeding $5,000 prior authorization, in writing, by Commission's Contract Administrator is required. Three competitive quotations must be submitted with the request for such purchase, or the absence of bidding must be adequately justified. 26.3 Any equipment purchased as a result of this Agreement is subject to the following: Consultant shall maintain an inventory of all nonexpendable property. Nonexpendable property is defined as having a useful life of at least two years and an acquisition cost of $5,000 or more. If the purchased equipment needs replacement and is sold or traded in, Commission shall receive a proper refund or credit at the conclusion of this Agreement, or if this Agreement is terminated, Consultant may either keep the equipment and credit Commission in an amount equal to its fair market value, or sell such equipment at the best price obtainable at a public or private sale, in accordance with established Commission procedures; and credit Commission in an amount equal to the 567 more than $25,000 for demolition, repair, or maintena Section. (c) When p Scope of Services, transportation minimum rates set by the Department of applicable Prevailing Wage Determination. S sales price. If Consultant elects to keep the equipment, fair market value shall be determined at Consultant's expense, on the basis of a competent independent appraisal of such equipment. Appraisals shall be obtained from an appraiser mutually agreeable to by Commission and Consultant. If Consultant determines to sell the equipment, the terms and conditions of such sale must be approved in advance by Commission. 2 CFR, Part 200 requires a credit to Federal funds when participating equipment with a fair market value greater than $5,000 is credited to the Project. 26.4 All subcontracts in excess $25,000 shall contain the above provisions. 27. Labor Code Requirements. 27.1 Prevailing Wages. (a) nsultant shall comply with the State of California's General Prevailing Wage Rate r 1r- -nts in accordance with California Labor Code, Section 1770, and all Federal .te, anW ocal laws and ordinances applicable to the Services. act entered into as a result of this Agreement, if for ction or more than $15,000 for the alteration, orks, shall contain all of the provisions of this apply to the Services described in the ce costs shall be reimbursed at the trial ' '--tions (DIR) as outlined in the +* r.ca.gov. (d) Copies of the prey g r- . of p-°'' . iem wages in effect at commencement of this Agreement are on file at the Commission's , , es. Consultant shall make copies of the prevailing rates of per diem wages for eac ; :ft, ssification or type of worker needed to execute the Services available to intere , :={ . parties upon request, and shall post copies at the Consultant's principal place of b -a ess and at the project site. Consultant shall defend, indemnify and hold the Commission, its elected officials, officers, employees and agents free and harmless from any claims, liabilities, costs, penalties or interest arising out of any failure or alleged failure to comply with the Prevailing Wage Laws. 27.2 DIR Registration. Since the Services are being performed as part of an applicable "public works" or "maintenance" project, then pursuant to Labor Code Sections 1725.5 and 1771.1, the Consultant and all subconsultants must be registered with the Department of Industrial Relations. Consultant shall maintain registration for the duration of the Project and require the same of any subconsultants. This Project may also be subject to compliance monitoring and enforcement by the Department of Industrial Relations. It shall be Consultant's sole responsibility to comply with all applicable registration and labor compliance requirements. 568 27.3 Eight -Hour Law. Pursuant to the provisions of the California Labor Code, eight hours of labor shall constitute a legal day's work, and the time of service of any worker employed on the work shall be limited and restricted to eight hours during any one calendar day, and forty hours in any one calendar week, except when payment for overtime is made at not less than one and one-half the basic rate for all hours worked in excess of eight hours per day ("Eight -Hour Law"), unless Consultant or the Services are not subject to the Eight -Hour Law. Consultant shall forfeit to Commission as a penalty, $50.00 for each worker employed in the execution of this Agreement by him, or by any sub -consultant under him, for each calendar day during which such workman is required or permitted to work more than eight hours in any calendar day and forty hours in any one calendar week without such compensation for overtime violation of the provisions of the California Labor Code, unless Consultant or the Services are not subject to the Eight -Hour Law. 27.4 Em employment of proper Code, and no em employees as ind ground of race, cree shall be paid the standa trade in which he or she is which he or she is registere nt of A•.rentices. This Agreement shall not prevent the ed apprentices in accordance with the California Labor or union shall refuse to accept otherwise qualified tic- on the work performed hereunder solely on the cestry, color or sex. Every qualified apprentice rentices under the regulations of the craft or hall be employed only in the craft or trade to If California Labor Code Sect 1 • - . ies to the Services, Consultant and any subcontractor hereunder who emplo any prenticeable craft or trade shall apply to the joint apprenticeship council admin -rin ble standards for a certificate approving Consultant or any sub -consultant f.; e loym and training of apprentices. Upon issuance of this certificate, Consulta a ub-c ultant shall employ the number of apprentices provided for therein, as ell as c tribute " he fund to administer the apprenticeship program in each craft or trade in the area o •rk hereunder. The parties expressly understand that the resp; . bility for compliance with provisions of this Section and with Sections 1777.5, 177 and 1777.7 of the California Labor Code in regard to all apprenticeable occupations lies with Consultant 28. Ownership of Materials/Confidentiality. 28.1 Documents & Data. This Agreement creates an exclusive and perpetual license for Commission to copy, use, modify, reuse, or sub -license any and all copyrights and designs embodied in plans, specifications, studies, drawings, estimates, materials, data and other documents or works of authorship fixed in any tangible medium of expression, including but not limited to, physical drawings or data magnetically or otherwise recorded on computer diskettes, which are prepared or caused to be prepared by Consultant under this Agreement ("Documents & Data"). 569 Consultant shall require all subcontractors to agree in writing that Commission is granted an exclusive and perpetual license for any Documents & Data the subcontractor prepares under this Agreement. Consultant represents and warrants that Consultant has the legal right to grant the exclusive and perpetual license for all such Documents & Data. Consultant makes no such representation and warranty in regard to Documents & Data which were prepared by design professionals other than Consultant or provided to Consultant by the Commission. Commission shall not be limited in any way in its use of the Documents & Data at any time, provided that any such use not within the purposes intended by this Agreement shall be at Commission's sole risk. 28.2 Intellectual Property. In addition, Commission shall have and retain all right, title and interes ', ' clu•I] • copyright, patent, trade secret and other proprietary rights) in all plans, s ification studies, drawings, estimates, materials, data, computer programs or softw nd sour :z co•. -.,enhancements, documents, and any and all works of authorship fixed i ��,- �;��' ib,�� m or expression, including but not limited to, physical drawings or other dat -_• neti = , ly or otherwise recorded on computer media ("Intellectual Property') pre•.. d o v I 'ped by or on behalf of Consultant under this Agreement as well as any other suc , - ectual Property prepared or developed by or on behalf of Consultant under this Ag ment The Commission Intellectual Property developed or modified u wholly or in part by Commission, whether or and whether or not developed by Consultan assignments of any and all rights to the abo request of Commission. and r in all right, title and interest in ment whether or not paid for njunction with Consultant, ecute separate written e referenced In ` _J -ctual Property upon Consultant shall also be responsibl=: `: obtain in writing separate written assignments from any subcontractors or agents of onsultant of any and all right to the above referenced Intellectual Property. Should Consultant, either during or following termination of this Agreement, desire to use any of the above -referenced Intellectual Property, it shall first obtain the written approval of the Commission. All materials and documents which were developed or prepared by the Consultant for general use prior to the execution of this Agreement and which are not the copyright of any other party or publicly available and any other computer applications, shall continue to be the property of the Consultant. However, unless otherwise identified and stated prior to execution of this Agreement, Consultant represents and warrants that it has the right to grant the exclusive and perpetual license for all such Intellectual Property as provided herein. Commission further is granted by Consultant a non-exclusive and perpetual license to copy, use, modify or sub -license any and all Intellectual Property 570 otherwise owned by Consultant which is the basis or foundation for any derivative, collective, insurrectional, or supplemental work created under this Agreement. 28.3 Confidentiality. All ideas, memoranda, specifications, plans, procedures, drawings, descriptions, computer program data, input record data, written information, and other Documents and Data either created by or provided to Consultant in connection with the performance of this Agreement shall be held confidential by Consultant. Such materials shall not, without the prior written consent of Commission, be used by Consultant for any purposes other than the performance of the Services. Nor shall such materials be disclosed to any person or entity not connected with the performance of the Services or the Project. Nothing furnished to Consultant which is otherwise known to Consultant or is generally known, or has become known, to the related industry shall be deemed confidential. Consultant shall not use Commission's name or insignia, photographs of t >- Project, or any publicity pertaining to the Services or the Project in any magazine -_ paper, newspaper, television or radio production or other similar medium witho a or • written consent of Commission. 28.4 hold the Commissio , free and harmless, purs alleged infringement of any other proprietary right of any Commission of the Documents & D specified or depicted. nification. Consultant shall defend, indemnify and Is, officers, employees, volunteers and agents fication provisions of this Agreement, for any t, trade secret, trade name, trademark, or any ity in consequence of the use on the Project by , includ method, process, product, or concept 29. Indemnification. To the fullest defend (with counsel of Commission's choosi and their directors, officials, officers, employ- +n nts, and harmless from any and all claims, demands, auses ""' action, loss, damage or injury, in law or equity, to property or persons, i any manner arising out of or incident to alleged neglige misconduct of Consultant, its officials, officers, employ contractors arising out of or in connection with the perform ce of the Services, the Project or this Agreement, including without limitation the payment of consequential damages, expert witness fees, and attorneys fees and other related costs and expenses. Consultant shall defend, at Consultant's own cost, expense and risk, any and all such aforesaid suits, actions or other legal proceedings of every kind that may be brought or instituted against Commission, Caltrans and their directors, officials, officers, employees, consultants, agents, or volunteers. Consultant shall pay and satisfy any judgment, award or decree that may be rendered against Commission, Caltrans or their directors, officials, officers, employees, consultants, agents, or volunteers, in any such suit, action or other legal proceeding. Consultant shall reimburse Commission, Caltrans and their directors, officials, officers, employees, consultants, agents, and/or volunteers, for any and all legal expenses and costs, including reasonable attorney's fees, incurred by each of them in connection therewith or in enforcing the indemnity herein provided. Consultant's obligation to indemnify shall not be restricted to insurance proceeds, if any, received by Commission, Caltrans, their directors, officials officers, employees, consultants, agents, or volunteers. ted by law, Consultant shall hold Commission, Caltrans nteers, and agents free ts, expenses, liability, wrongful death, in ts, o issions, or willful agents, consultants, and 571 If Consultant's obligation to defend, indemnify, and/or hold harmless arises out of Consultant's performance as a "design professional" (as that term is defined under Civil Code section 2782.8), then, and only to the extent required by Civil Code section 2782.8, which is fully incorporated herein, Consultant's indemnification obligation shall be limited to claims that arise out of, pertain to, or relate to the negligence, recklessness, or willful misconduct of the Consultant, and, upon Consultant obtaining a final adjudication by a court of competent jurisdiction, Consultant's liability for such claim, including the cost to defend, shall not exceed the Consultant's proportionate percentage of fault. Consultant's obligations as set forth in this Section shall survive expiration or termination of this Agreement. 30. To the fullest extent permitted by law, Consultant shall defend, indemnify and hold Commission, Caltrans and their directors, officials, officers, employees, consultants, volunteers, and agents fr- ,d harmless from any and all claims, demands, causes of action, costs, expense bi loss, damage or injury, in law or equity, to property or persons, including gful de h, inverse condemnation, and any claims related to property acquisitio d reloca ru -s or failure to detect or abate hazardous materials, which are brought by ich , in any manner arise out of or are incident to alleged negligent acts, o ion- , r will ► isconduct of Consultant, its officials, officers, employees, agents, consultar a on ctors arising out of or in connection with the performance of the Services, e Pro his Agreement, including without limitation the payment of consequential damage-, expert s fees, and attorneys fees and other related costs and expenses. Cons n - • _ nd, at Consultant's own cost, expense and risk, any and all such aforesaid s► , a + or oth legal proceedings of every kind that may be brought or instituted against mis altrans, and their directors, officials, officers, employees, consultants, ag : s, lunt . Consultant shall pay and satisfy any judgment, award or decree that ma n d ag.' •.st Commission, Caltrans or their directors, officials, officers, employees, onsulta s, age or volunteers, in any such suit, action or other legal proceeding. Consultant shal urse Commission, Caltrans and their directors, officials, officers, employees, sulta ts, agents, and/or volunteers, for any and all legal expenses and costs, inclu•' .'reasonable attorney's fees, incurred by each of them in connection therewith or in -nforcing the indemnity herein provided. Consultant's obligation to indemnify shall not be restricted to insurance proceeds, if any, received by Commission, Caltrans or their directors, officials officers, employees, consultants, agents, or volunteers. Notwithstanding the foregoing, to the extent Consultant's Services are subject to Civil Code Section 2782.8, the above indemnity shall be limited, to the extent required by Civil Code Section 2782.8, to claims that arise out of, pertain to, or relate to the negligence, recklessness, or willful misconduct of the Consultant. Consultant's obligations as set forth in this Section 29 shall survive expiration or termination of this Agreement. 572 31. Insurance. 31.1 Time for Compliance. Consultant shall not commence work under this Agreement until it has provided evidence satisfactory to the Commission that it has secured all insurance required under this Section, in a form and with insurance companies acceptable to the Commission. In addition, Consultant shall not allow any subcontractor to commence work on any subcontract until it has secured all insurance required under this Section. 31.2 Minimum Requirements. Consultant shall, at its expense, procure and maintain for the duration of the Agreement insurance against claims for injuries to persons or damages to property which may arise from or in connection with the performance of the Agreement by the Consultant, its agents, representatives, employees or subcontractors. Consultant shall also require all of its subcontractors to procure and maintain the same insurance for the duration the Agreement. Such insurance shall meet at least the following minimum lev_ •f -rage: broad as the latest ve Commercial General Lia Automobile Liability: Insuranc code 1 (any auto) or exact e`r ivale Liability: Workers' Compensation i Employer's Liability Insurance. cope of Insurance. Coverage shall be at least as : (1) General Liability: Insurance Services Office urrence form CG 0001 or exact equivalent); (2) ice Business Auto Coverage (form CA 0001, (3) Workers' Compensation and Employer's rance - •uired by the State of California and (b) Minimum Limits o .ura « . onsultant shall maintain limits no less than: (1) General Liability: $2,000,00 •er urr- - for bodily injury, personal injury and property damage. If Commercial ility rance or other form with general aggregate limit is used, either the gene aggre .te lim all apply separately to this Agreement/location or the general aggregate limit shal twice the required occurrence limit. Limits may be achieved by any combinatio- pn ry and excess or umbrella liability insurance; (2) Automobile Liability: $1,0 X00 per accident for bodily injury and property damage. Limits may be achieved by y combination of primary and excess or umbrella liability insurance; and (3) Workers' Compensation and Employer's Liability: Workers' Compensation limits as required by the Labor Code of the State of California. Employer's Practices Liability limits of $1,000,000 per accident. 31.3 Professional Liability. Consultant shall procure and maintain, and require its sub -consultants to procure and maintain, fora period of five (5) years following completion of the Project, errors and omissions liability insurance appropriate to their profession. For Consultant, such insurance shall be in an amount not less than $1,000,000 per claim. This insurance shall be endorsed to include contractual liability applicable to this Agreement and shall be written on a policy form coverage specifically designed to protect against acts, errors or omissions of the Consultant. "Covered Professional Services" as designated in the policy must specifically include work performed under this Agreement. The policy must "pay on behalf of" the insured and must include a provision establishing the insurer's duty to defend. Subconsultants of Consultant 573 shall obtain such insurance in an amount not less than $2,000,000 per claim. Notwithstanding the foregoing, the Commission may consider written requests to lower or dispense with the errors and omissions liability insurance requirement contained in this Section for certain subconsultants of Consultant, on a case -by -case basis, depending on the nature and scope of the Services to be provided by the subconsultant. Approval of such request shall be in writing, signed by the Commission's Contract Administrator. 31.4 Aircraft Liability Insurance. Prior to conducting any Services requiring use of aircraft, Consultant shall procure and maintain, or cause to be procured and maintained, aircraft liability insurance or equivalent form, with a single limit as shall be required by the Commission. Such insurance shall include coverage for owned, hired and non -owned aircraft and passengers, and shall name, or be endorsed to name, the Commission, Caltrans and their directors, officials, officers, employees and agents as additional insureds with respect to the Services or operations performed by or on behalf of the Consultant. 31.5 following provisio Commission to add (a) dorsements. The insurance policies shall contain the II provide endorsements on forms approved by the ns to the insurance policies: (i) C coverage for (1) bodily Injury and p (3) premises/operations liability; (4) limits that apply per Project; (6) explosion, deleted; (7) contractual liability with respect damage; and (9) independent consultants c eral Liability Insurance must include (2) personal Injury/advertising Injury; leted operations liability; (5) aggregate pse nderground (UCX) exclusion nt; (8) broad form property (ii) The policy shall contain no en limiting coverage for (1) contractual liability; (2) cross liability e one insured against another; or (3) contain any other exclus ments or provisions ion '1 r claims or suits by ontrary to this Agreement. (iii) The policy shall give the Commission, its directors, officials, officers, employees, and agents insured status using ISO endorsement forms 20 10 10 01 and 20 37 10 01, or endorsements providing the exact same coverage. (iv) The additional insured coverage under the policy shall be "primary and non-contributory" and will not seek contribution from the Commission's or Caltrans' insurance or self-insurance and shall be at least as broad as CG 20 01 04 13, or endorsements providing the exact same coverage. (b) Automobile Liability. The automobile liability policy shall be endorsed to state that: (1) the Commission, Caltrans and their directors, officials, officers, employees and agents shall be covered as additional insureds with respect to the ownership, operation, maintenance, use, loading or unloading of any auto owned, leased, hired or borrowed by the Consultant or for which the Consultant is responsible; and (2) the insurance coverage shall be primary insurance as respects the Commission, Caltrans and 574 their directors, officials, officers, employees and agents, or if excess, shall stand in an unbroken chain of coverage excess of the Consultant's scheduled underlying coverage. Any insurance or self-insurance maintained by the Commission, Caltrans and their directors, officials, officers, employees and agents shall be excess of the Consultant's insurance and shall not be called upon to contribute with it in any way. (c) Workers' Compensation and Employers Liability Coverage. (i) Consultant certifies that he/she is aware of the provisions of Section 3700 of the California Labor Code which requires every employer to be insured against liability for workers' compensation or to undertake self-insurance in accordance with the provisions of that code, and he/she will comply with such provisions before commencing work under this Agreement. against the Commissio paid under the term Consultant. set forth hereunder. The insurer shall agree to waive all rights of subrogation tors, officials, officers, employees and agents for losses ance policy which arise from work performed by the osts shall be payable in addition to the limits (ii) •, id' f specific coverage or limits contained in this Section are not intended as a limitation • era its, or other requirement, or a waiver of any coverage normally provided b : ny ' ra . It shall be a requirement under this Agreement that any available ins nc eeds •ader than or in excess of the specified minimum insurance coverage req men nd/o `' , its set forth herein shall be available to the Commission, Caltrans and their directors, offi officers, employees and agents as additional insureds under said policies. Furthe Ore, requirements for coverage and limits shall be (1) the minimum coverag- d limits specified in this Agreement; or (2) the broader coverage and maximum li of coverage of any insurance policy or proceeds available to the named insured; whichever is greater. (iii) The limits of insurance required in this Agreement may be satisfied by a combination of primary and umbrella or excess insurance. Any umbrella or excess insurance shall contain or be endorsed to contain a provision that such coverage shall also apply on a primary and non-contributory basis for the benefit of the Commission (if agreed to in a written contract or agreement) before the Commission's own insurance or self-insurance shall be called upon to protect it as a named insured. The umbrella/excess policy shall be provided on a "following form" basis with coverage at least as broad as provided on the underlying policy(ies). (iv) Consultant shall provide the Commission at least thirty (30) days prior written notice of cancellation of any policy required by this Agreement, except that the Consultant shall provide at least ten (10) days prior written notice of cancellation of any such policy due to non-payment of premium. If any of the required 575 coverage is cancelled or expires during the term of this Agreement, the Consultant shall deliver renewal certificate(s) including the General Liability Additional Insured Endorsement to the Commission at least ten (10) days prior to the effective date of cancellation or expiration. (v) The retroactive date (if any) of each policy is to be no later than the effective date of this Agreement. Consultant shall maintain such coverage continuously for a period of at least three years after the completion of the work under this Agreement. Consultant shall purchase a one (1) year extended reporting period A) if the retroactive date is advanced past the effective date of this Agreement; B) if the policy is cancelled or not renewed; or C) if the policy is replaced by another claims -made policy with a retroactive date subsequent to the effective date of this Agreement. insurance coverage to be the Commission, is not i and obligations othe but not limited to, t (vi) The foregoing requirements as to the types and limits of ained by Consultant, and any approval of said insurance by and shall not in any manner limit or qualify the liabilities by the Consultant pursuant to this Agreement, including on -rning indemnification. me during the life of the Agreement, any policy of insurance required under th g -me ►oes not comply with these specifications or is canceled and not replaced, omm as the right but not the duty to obtain the insurance it deems necessary and y prem. - •aid by Commission will be promptly reimbursed by Consultant or Com io old amounts sufficient to pay premium from Consultant payments. In the a mmis on may cancel this Agreement. The Commission may require the Consultan •rov nplete copies of all insurance policies in effect for the duration of the Proje (viii) Neither the missi nor a °; .f its directors, officials, officers, employees or agents shall be personally responsible for ability arising under or by virtue of this Agreement. 31.6 Deductibles and Self -Insurance Ret- T-' ions. Any deductibles or self - insured retentions must be declared to and approved by the Commission. If the Commission does not approve the deductibles or self -insured retentions as presented, Consultant shall guarantee that, at the option of the Commission, either: (1) the insurer shall reduce or eliminate such deductibles or self -insured retentions as respects the Commission, its directors, officials, officers, employees and agents; or, (2) the Consultant shall procure a bond guaranteeing payment of losses and related investigation costs, claims and administrative and defense expense. 31.7 Acceptability of Insurers. Insurance is to be placed with insurers with a current A.M. Best's rating no less than A:VIII, licensed to do business in California, and satisfactory to the Commission. 31.8 Verification of Coverage. Consultant shall furnish Commission with original certificates of insurance and endorsements effecting coverage required by this 576 Agreement on forms satisfactory to the Commission. The certificates and endorsements for each insurance policy shall be signed by a person authorized by that insurer to bind coverage on its behalf. All certificates and endorsements must be received and approved by the Commission before work commences. The Commission reserves the right to require complete, certified copies of all required insurance policies, at any time. 31.9 Subconsultant Insurance Requirements. Consultant shall not allow any subcontractors or subconsultants to commence work on any subcontract until they have provided evidence satisfactory to the Commission that they have secured all insurance required under this Section. Policies of commercial general liability insurance provided by such subcontractors or subconsultants shall be endorsed to name the Commission as an additional insured using ISO form CG 20 38 04 13 or an endorsement providing the exact same coverage. If requested by Consultant, the Commission may approve different scopes or minimum limits of insurance for particular subcontractors or subconsultants. 31.10 additional coverag reasonable and pru Project. In retaining th program to be adequate. Co to the insurance required in is Se nce. At its option, the Commission may require such e reduction of deductibles or retentions it considers factors that may directly or indirectly impact the on does not warrant Consultant's insurance ve the right to purchase insurance in addition 32. Safety. Consultant sh ex- - aintain its work so as to avoid injury or damage to any person or property. I ; ' t its S ices, the Consultant shall at all times be in compliance with all applicable al, and federal laws, rules and regulations, and shall exercise all necessar pre ion r the safety of employees appropriate to the nature of the work and t i un which the work is to be performed. Safety precautions as applicable s I inclu , but s not be limited to: (A) adequate life protection and life saving equipment and proce► (B) instructions in accident prevention for all employees and subcontractor •uch s safe walkways, scaffolds, fall protection ladders, bridges, gang planks .nfined space procedures, trenching and shoring, equipment and other safety de ces, equipment and wearing apparel as are necessary or lawfully required to prevent accidents or injuries; and (C) adequate facilities for the proper inspection and maintenance of all safety measures. Pursuant to the authority contained in Section 591 of the Vehicle Code, the Commission has determined that the Project will contain areas that are open to public traffic. Consultant shall comply with all of the requirements set forth in Divisions 11, 12, 13, 14, and 15 of the Vehicle Code. Consultant shall take all reasonably necessary precautions for safe operation of its vehicles and the protection of the traveling public from injury and damage from such vehicles. 33. Additional Work. Any work or activities that are in addition to, or otherwise outside of, the Services to be performed pursuant to this Agreement shall only be performed pursuant to a separate agreement between the parties. Notwithstanding the foregoing, the Commission's Executive Director may make a change to the Agreement, 577 other than a Cardinal Change. For purposes of this Agreement, a Cardinal Change is a change which is "outside the scope" of the Agreement; in other words, work which should not be regarded as having been fairly and reasonably within the contemplation of the parties when the Agreement was entered into. An example of a change which is not a Cardinal Change would be where, in a contract to construct a building there are many changes in the materials used, but the size and layout of the building remains the same. Cardinal Changes are not within the authority of this provision to order, and shall be processed by the Commission as "sole source" procurements according to applicable law, including the requirements of FTA Circular 4220.1 D, paragraph 9(f). (a) In addition to the changes authorized above, a modification which is signed by Consultant and the Commission's Executive Director, other than a Cardinal Change, may be made in order to: (1) make a negotiated equitable adjustment to the Agreeme t price, delivery schedule and other terms resulting from the issuance of a Change Or 2) reflect definitive letter contracts, and (3) reflect other agreements of the pa ying the terms of this Agreement ("Bilateral Contract Modification"). change, without written a herein. In the event such Commission's Executive Dire tor, C 34. Prohibited Interests. ant shall not perform, nor be compensated for any Commission's Executive Director as set forth orization is not issued and signed by the ant shall not provide such change. 34.1 Solicitation. Consultan employed nor retained any company or pers solely for Consultant, to solicit or secure this it has not paid nor has it agreed to pay any co pany employee working solely for Consultant, any fee, commission, gift or other consideration contingent upon or resulting fro Agreement. For breach or violation of this warranty, the to rescind this Agreement without liability. 34.2 Consultant Conflict of Interest nd warrants that it has not ona fide employee working Consultant warrants that ther than a bona fide ge, brokerage fee, or making of this mission shall have the right (a) Consultant shall disclose any financial, business, or other relationship with Commission that may have an impact upon the outcome of this Agreement, or any ensuing Commission construction project. Consultant shall also list current clients who may have a financial interest in the outcome of this Agreement, or any ensuing Commission construction project, which will follow. (b) Consultant hereby certifies that it does not now have, nor shall it acquire any financial or business interest that would conflict with the performance of services under this Agreement. 578 (c) Any subcontract in excess of $25,000 entered into as a result of this Agreement, shall contain all of the provisions of this Article. (d) Consultant hereby certifies that neither Consultant, nor any firm affiliated with Consultant will bid on any construction contract, or on any contract to provide construction inspection for any construction project resulting from this contract. An affiliated firm is one, which is subject to the control of the same persons through joint -ownership, or otherwise. (e) Except for subconsultants whose services are limited to providing surveying or materials testing information, no subconsultant who has provided design services in connection with this contract shall be eligible to bid on any construction contract, or on any contract to provide construction inspection for any construction project resulting from this contract. 34.3 C Conflict of Interest. For the term of this Agreement, no member, officer or e : oyee of e Commission, during the term of his or her service with the Commission, s have a :ire► 'nterest in this Agreement, or obtain any present or anticipated material • : • - ' .- in• a rom. 34.4 Conflict m 4 m ;; . Employment by the Consultant of personnel currently on the payroll of the omm •hall not be permitted in the performance of this Agreement, even though such em ment cur outside of the employee's regular working hours or on weekends, hol : y - a n time. Further, the employment by the Consultant of personnel who have be .n - r >mmis ' n payroll within one year prior to the date of execution of this Agreement, w e thi oyment is caused by and or dependent upon the Consultant securing this rel Agr ents with the Commission, is prohibited. 34.5 Covenant Against Contingent Fees. As federal funding, the Consultant warrants that he/she has n company or person, other than a bona fide employee wor or secure this Agreement, and that he/she has not paid o •greed to pay any company or person, other than a bona fide employee, any fee, commission, percentage, brokerage fee, gift, or any other consideration, contingent upon or resulting from the award or formation of this Agreement. For breach or violation of this warranty, the Commission shall have the right to terminate this Agreement without liability pursuant to the terms herein, or at its discretion to deduct from the Agreement price or consideration, or otherwise recover, the full amount of such fee, commission, percentage, brokerage fee, gift, or contingent fee. in connection with plo `-d or retained any for the Consultant, to solicit 34.6 Rebates, Kickbacks or Other Unlawful Consideration. Consultant warrants that this Agreement was not obtained or secured through rebates kickbacks or other unlawful consideration, either promised or paid to any Commission employee. For breach or violation of this warranty, Commission shall have the right in its discretion; to terminate this Agreement without liability; to pay only for the value of the work actually 579 performed; or to deduct from the Agreement price; or otherwise recover the full amount of such rebate, kickback or other unlawful consideration. 34.7 Covenant Against Expenditure of Commission, State or Federal Funds for Lobbying. The Consultant certifies that to the best of his/ her knowledge and belief no state, federal or local agency appropriated funds have been paid, or will be paid by or on behalf of the Consultant to any person for the purpose of influencing or attempting to influence an officer or employee of any state or federal agency; a Member of the State Legislature or United States Congress; an officer or employee of the Legislature or Congress; or any employee of a Member of the Legislature or Congress, in connection with the award of any state or federal contract, grant, loan, or cooperative agreement, or the extension, continuation, renewal, amendment, or modification of any state or federal contract, grant, loan, or cooperative agreement. (a) paid, or will be paid to a an officer or emplo employee of Congr Agreement, the Cons Form-LLL, "Disclosure instructions. y funds other than federal appropriated funds have been for the purpose of influencing or attempting to influence deral agency; a Member of Congress; an officer or loy of a Member of Congress; in connection with this and submit the attached Exhibit "G", Standard obbying," in accordance with the attached (b) The Co Itant's material representation of fact upo entered into, and is a prerequisite f 1352, Title 31, US. Code. Failure to comply disclosure and certification requirements set f result in a civil penalty of not less than $10,0 failure. cation provided in this Section is a was placed when this Agreement was to thi Agreement pursuant to Section the tions on expenditures, or the 52, Title 31, US. Code may $100,000 for each such (c) The Consultant also agrees by ng s Agreement that he/she shall require that the language set forth in this Sep •n 3.23.5 be included in all Consultant subcontracts which exceed $100,000, and th all such subcontractors shall certify and disclose accordingly. 34.8 Employment Adverse to the Commission. Consultant shall notify the Commission, and shall obtain the Commission's written consent, prior to accepting work to assist with or participate in a third -party lawsuit or other legal or administrative proceeding against the Commission during the term of this Agreement. 35. Equal Opportunity Employment. Consultant represents that it is an equal opportunity employer and it shall not discriminate against any subcontractor, employee or applicant for employment because of race, religion, color, national origin, ancestry, sex or age. Such non-discrimination shall include, but not be limited to, all activities related to initial employment, upgrading, demotion, transfer, recruitment or recruitment advertising, layoff or termination. 580 36. Right to Employ Other Consultants. Commission reserves the right to employ other consultants in connection with the Project. 37. Governing Law. This Agreement shall be governed by and construed with the laws of the State of California. Venue shall be in Riverside County. 38. Disputes; Attorneys' Fees. 38.1 Prior to commencing any action hereunder, the Parties shall attempt in good faith to resolve any dispute arising between them. The pendency of a dispute shall not excuse Consultant from full and timely performance of the Services. 38.2. If the Parties are unable to resolve a dispute after attempting in good faith to do so, the Parties either Party commence otherwise, arising out litigation shall be ert fees and, all other co 39. Time of Essence Agreement. seek any other available remedy to resolve the dispute. If n against the other Party, either legal, administrative or ection with this Agreement, the prevailing Party in such nd ecover from the losing Party reasonable attorneys' 40. Headings. Article an headings contained in this Agreeme the construction or interpretation of any pro 41. Notices. All notices permitted given to the respective parties at the following respective parties may provide in writing for this purpose: essence for each and every provision of this ings, paragraph captions or marginal enience only and shall have no effect in here CONSULTANT: ICF Jones & Stokes, Inc. 9300 Lee Highway Fairfax, VA 22031 Attn: Court Morgan this Agreement shall be h other address as the C ISSION: Riverside County Transportation Commission 4080 Lemon Street, 3rd Floor Riverside, CA 92501 Attn: Executive Director Such notice shall be deemed made when personally delivered or when mailed, forty-eight (48) hours after deposit in the U.S. mail, first class postage prepaid, and addressed to the Party at its applicable address. Actual notice shall be deemed adequate notice on the date actual notice occurred, regardless of the method of service. 42. Conflicting Provisions. In the event that provisions of any attached exhibits conflict in any way with the provisions set forth in this Agreement, the language, terms and conditions contained in this Agreement shall control the actions and obligations of the 581 Parties and the interpretation of the Parties' understanding concerning the performance of the Services. 43. Amendment or Modification. No supplement, modification, or amendment of this Agreement shall be binding unless executed in writing and signed by both Parties. 44. Entire Agreement. This Agreement contains the entire agreement of the Parties relating to the subject matter hereof and supersedes all prior negotiations, agreements or understandings. 45. Invalidity; Severability. If any portion of this Agreement is declared invalid, illegal, or otherwise unenforceable by a court of competent jurisdiction, the remaining provisions shall continue in full force and effect. 46. Provisions A• .; cable When State Funds or Federal Funds Are Involved. When funding for the S c- nder a Task Order is provided by this Agreement are provided, in whole o part, .m the United States Department of Transportation, Consultant shall al - Ily and - qu.tely comply with the provisions included in Exhibit "C" (Federal Depart on of s• on Requirements and California Department of Transportation (Caltran = = p c;' am •uirements) attached hereto and incorporated herein by reference. When f i x` .or th Services under a Task Order is provided, in whole or in part, from the FT ons •hall also fully and adequately comply with the provisions included in Exhibit "F" (F Requires ts) attached hereto and incorporated herein by reference 47. Survival. All rights and oblig continue after any expiration or termination of the indemnification and confidentiality oblig termination. er that by their nature are to including, but not limited to, any such expiration or 48. No Third Party Beneficiaries. There are no inten. M` thi °i. •arty beneficiaries of any right or obligation assumed by the Parties. 49. Labor Certification. By its signature hereunder, Consultant certifies that it is aware of the provisions of Section 3700 of the California Labor Code which require every employer to be insured against liability for Workers' Compensation or to undertake self- insurance in accordance with the provisions of that Code, and agrees to comply with such provisions before commencing the performance of the Services. 50. Counterparts. This Agreement may be signed in counterparts, each of which shall constitute an original. 51. Attorney Client Privilege. The Parties recognize that, during the Project, the Commission and its attorneys will engage in communication that gives rise to an attorney client privilege of confidentiality ("Confidential Communication"). Given the nature of the work done by Consultant for the Commission, it may be necessary for the Consultant to participate in Confidential Communications. To the extent that (i) the Consultant is a party to any Confidential Communication, and (ii) a third party seeks discovery of such 582 communications, then the Consultant shall be deemed to be an agent of the Commission solely for purposes of preserving any attorney client privilege in the relevant Confidential Communication. Any such attorney client privilege shall be held by the Commission and the Consultant is not authorized to waive that privilege or, otherwise, disclose such Confidential Communication except as set forth below. This Section is intended to maintain the privilege in any privileged Confidential Communications that are (1) between and among Commission, Consultant, and Commission's attorneys; (2) between Consultant (on behalf of the Commission) and Commission's attorneys; (3) Confidential Communications that occur in Closed Session meetings wherein the Commission, the Commission's attorneys and Consultant are present; and (4) between Commission and Consultant wherein the substance of the Confidential Communication is conveyed to/from the Consultant. Consultant ma disclose a Confidential Communication to the extent such disclosure is required by I= 'rocess, by a court of competent jurisdiction or by any other governmental authority .vi.. that any such disclosure shall be limited to the specific part of the Confide► Com 'cation required to be disclosed and provided that Consultant first co 1 with t e• ' ements set forth in this paragraph. As soon as practicable after Cons• - • . -re that it is required, or may become required, to disclose the Confidentia om - ratio for such reason, Consultant shall notify the Commission in writing, in ord- - . al • he •mmission to pursue legal remedies designed to limit the Confidential Co muni required to be disclosed or to assure the confidential treatment of the disclos_ nform. slowing its disclosure. Consultant shall cooperate with the Commission, o a ale basis, to assist the Commission in limiting the scope of disclosure or a .•rin► confid�tial treatment of any disclosed information. 52. Subpoenas or Court Orders. Sh• or tant r order related to this Agreement, the Services or he Proj ct, Con provide written notice of the subpoena or court order to the Co not respond to any such subpoena or court order until notice t as required herein, and shall cooperate with the Co subpoena or court order. ive a subpoena or court ant shall immediately ����s��,,� . Consultant shall e Commission is provided sion in responding to the 53. Assignment or Transfer. Consultant shall not assign, hypothecate, or transfer, either directly or by operation of law, this Agreement or any interest herein, without the prior written consent of the Commission. Any attempt to do so shall be null and void, and any assignees, hypothecates or transferees shall acquire no right or interest by reason of such attempted assignment, hypothecation or transfer. 54. Successors and Assigns. This Agreement shall be binding on the successors and assigns of the parties, and shall not be assigned by Consultant without the prior written consent of Commission. 55. Incorporation of Recitals. The recitals set forth above are true and correct and are incorporated into this Agreement as though fully set forth herein. 583 56. No Waiver. Failure of Commission to insist on any one occasion upon strict compliance with any of the terms, covenants or conditions hereof shall not be deemed a waiver of such term, covenant or condition, nor shall any waiver or relinquishment of any rights or powers hereunder at any one time or more times be deemed a waiver or relinquishment of such other right or power at any other time or times. [Signatures on following page] 584 SIGNATURE PAGE TO PROFESSIONAL SERVICES AGREEMENT WITH PROPOSITION 1B, FTA AND FHWA FUNDING ASSISTANCE FOR ENVIRONMENTAL CONSULTING SERVICES IN WITNESS WHEREOF, this Agreement was executed on the date first written above. RIVERSIDE COUNTY TRANSPORTATION COMM ION By: Anne Mayer Approved as to Form: By: Best, Best & Krieger LLP General Counsel CONSULTANT ICF JONES & STOKES, INC. By: Signature Name Ti ATTEST: 40I1 By: Its: * A corporation requires the signatures of two corporate officers. One signature shall be that of the chairman of board, the president or any vice president and the second signature (on the attest line) shall be that of the secretary, any assistant secretary, the chief financial officer or any assistant treasurer of such corporation. If the above persons are not the intended signators, evidence of signature authority shall be provided to RCTC. 585 EXHIBIT "A" - SCOPE OF SERVICES ON -CALL ENVIRONMENTAL CONSULTING SERVICES 1.0 DESCRIPTION OF WORK 1.1 Consultant Responsibilities shall include, but will not be limited to the following: 1.1.1 Review and evaluate project -specific environmental documents to assess current compliance/validity under California Environmental Quality Act (CEQA) and National Environm-, Policy Act (NEPA) due to changes in project design, environmental requir ; °ent 1, >. elapsed time, etc. Prepare appropriate written documentation • s ;;i•lemental materials (e.g., environmental revalidation/reeva ► on, CE Q . d • - q dum, update technical reports and studies, etc.) to support the assess 1.1.2 Revie d • ide ritten input on project -specific environmental documents, technical report , and as requested by Commission staff (e.g., air quality, water quality, noise, cultur. esourc- eontology, biology, MSHCP studies, and Sections 4[f] and 6[f]). 1.1.3 Permitting servic-s inc 'T • prep tion of permit packages(s) and submittal to permitting agency(ies); coord :tion rmitting agency(ies); and shepherding permits(s) through their respe a val p ess(es). 1.1.4 Implementing, monitoring, and dbcumen . the progress and success of environmental commitments during construction a .o onstruction (e.g., environmentally sensitive area [ESA] fencing, permit con' .ns, habitat restoration, revegetation, special environmental provisions, etc.). 1.1.5 Support of project compliance with Western Riverside County Multispecies Habitat Conservation Plan (MSHCP) including preparation of documentation needed to support consistency determination process. 1.1.6 Coordination with regulatory and resources agencies as needed, on specific issues. 1.1.7 Other environmental services as requested by Commission staff. 1.1.8 In addition to meeting with and coordinating efforts with Commission staff, Consultant may also be required to interact with Commission legal counsel, other consultants, Caltrans, Federal Transit Administration, Federal Highway Administration, et al. 17336.00603\31171937.1 Exhibit A 586 1.1.9 If any legal issues exist during the course of work authorized under this scope of work, Consultant shall inform Commission. All legal opinions shall be rendered by Commission's legal counsel. 1.1.10 If hazardous materials or wastes are discovered during the course of work authorized under this scope of work, Consultant shall inform Commission and seek further direction from the Commission. 1.2 Materials to be Furnished by Commission 1.2.1 All software, data, reports, surveys, drawings, and other documents furnished to the Offeror by Commission for the Offeror's use in the performance of services shall be made available only for use in performing the assignment and shall remain the property of Commission. All such materials shall be returned to Commission upon completion of sery termination of the agreement, or other such time as Commission may dete 1.3 Pers 1.3.1 determined by the scope of th tasks to be performed. All approval by Commission. 1.4 Third Party Relations ions and Responsibilities ifications of personnel to be assigned will be quest and the degree of difficulty of required personnel assignments shall be subject to 1.4.1 This Contract is intend prov' -call environmental services for Commission projects. In the developmen f th om ion projects, Commission has worked closely with various professio 1 , ag ies, and others in the development of the project documents and oth rojec late •` -- -terials. Commission, however, is solely responsible for and will be the sole point of c'l_1ii s':> for all contractual matters related to the Task Orders. Offeror shall take direction fro ' Commission and shall regularly inform only Commission of Task Order pro• , outstanding issues, and all related matters. 1.4.2 During the course of the contract, Offeror may find occasion to meet with resource agencies, local jurisdictions, or Caltrans representatives, the design engineer, or other third parties who have assisted with the various Plan projects. These entities may, from time to time, offer suggestions and/or recommendations regarding the Commission project or elements of the project. While the Commission enjoys a close relationship with and has considerable confidence in the capabilities of these other parties, Offeror shall not act on any suggestions, solicited or unsolicited, without obtaining specific direction from Commission. All oral and written communication with outside agencies or Offerors related to the project shall be directed only to Commission. Distribution of project related communications and information shall be at the sole discretion of Commission representatives. 2.0 TASK ORDER PROCEDURES 17336.00603\31171937.1 Exhibit A 587 2.1 Definitions 2.1.1 The term Consultant shall refer to the firm or firms that are awarded the contract for environmental consulting services. 2.1.2 A Task Order is utilized by the parties to establish, outline, and authorize a particular job or task. 2.2 Initiating Task Orders 2.2.1 The Commission's project manager will issue Task Orders to the Consultant. 2.2.2 The C for a Task Order Propo shall develop a plan Task Order shall classification(s) to 2.3 Review an mission's request for task order submittals. Upon a request e designated Commission project manager, contractor a task order proposal for the requested services. The me schedule, number of labor hours, and labor d services. 2.3.1 The Commission's designated project manager will review the submitted Task Order (TO) to ensure that the submittal is complete, consistent with the Commission's written or oral request for services, the personnel assigned are acceptable, the schedule is acceptable, that all costs proposed are appropriate, and that the item is in compliance with contractual requirements. The project manager will award the Task Order if it is determined to be fair and reasonable. If required, the Commission's project manager will conduct negotiations to address exceptions a clarify costs. The fully executed Task Order will serve as the record of negotiations. 2.4 Completion Schedule 2.4.1 The contractors' performance of se ices shall commence under each Task Order only upon written authorization by the Commission's designated project manager. 2.4.2 Contractor shall complete the services within the time frame specified on a particular Task Order. 17336.00603\31171937.1 Exhibit A 588 EXHIBIT "B"- COMPENSATION AND PAYMENT Exhibit B-1 17336.00603\31171937.1 589 EXHIBIT "B" COMPENSATION SUMMARY' FIRM PROJECT TASKS/ROLE COST Prime Consultant: ICF Jones & Stokes On -Call Environmental Consulting Services $ 3,000,000.00 Sub Consultants: Advanced Civil Technologies Transportation Engineering TBD Arellano Assocites Public Outreach TBD Bargas Consulting Paleontology and Biology TBD Fehr & Peers Traffic Impact Assessment TBD Group Delta Consultants Geotechnical TBD HDR CEQA/NEPA, Biology, Regulatory Permitting, Visual Resoures, Monitoring TBD Monument ROW Right of Way TBD Tatsumi and Partners Landscape Architecture TBD Translutions, Inc. Traffic Modeling and Forecasting TBD TBD TOTAL COSTS d\ 3,000,000.00 1 Commission authorization pertains to total contract awaj however, the maximum total compensation authorized ma tion adjustments between consultants may occur; 590 EXHIBIT "C" FHWA/ CALTRANS REQUIREMENTS 1. STATEMENT OF COMPLIANCE. A. Consultant's signature affixed herein shall constitute a certification under penalty of perjury under the laws of the State of California that CONSULTANT has, unless exempt, complied with, the nondiscrimination program requirements of Government Code Section 12990 and Title 2, California Administrative Code, Section 8103. B. During the performance of this Agreement, Consultant and its subconsultants shall not unlawfully discriminate, har- s, or allow harassment against any employee or applicant for employment because of s- e, color, ancestry, religious creed, national origin, physical disability (including HIV d AI ► , mental disability, medical condition (e.g., cancer), age (over 40), marital st al of family care leave. Consultant and subconsultants shall insure that t valuati• an• eatment of their employees and applicants for employment are fre- • - u : imination and harassment. Consultant and subconsultants shall comp y wi - pro ons of the Fair Employment and Housing Act (Gov. Code §12990 (a -f) et s- . an; .e plicable regulations promulgated there under (California Code of Regulations, Titl: ', -ction 7285 et seq.). The applicable regulations of the Fair Employment and Housin•, ommi plementing Government Code Section 12990 (a -f), set forth in Chapter o io of Title 2 of the California Code of Regulations, are incorporated into this - gre- by re -nce and made a part hereof as if set forth in full. Consultant and its subco Ita s give written notice of their obligations under this clause to labor organ ati► ith ch they have a collective bargaining or other Agreement. C. If this Agreement is federally funded, the Consultant she o `,j Iy with regulations relative to Title VI (nondiscrimination in federally -assisted pr "ams o the Department of Transportation — Title 49 Code of Federal Regulations, P 1 - Effectuation of Title VI of the 1964 Civil Rights Act). Title VI provides that the recipients of federal assistance will implement and maintain a policy of nondiscrimination in which no person in the state of California shall, on the basis of race, color, national origin, religion, sex, age, disability, be excluded from participation in, denied the benefits of or subject to discrimination under any program or activity by the recipients of federal assistance or their assignees and successors in interest. D. If this Agreement is federally funded, the Consultant, with regard to the work performed by it during the Agreement shall act in accordance with Title VI. Specifically, the Consultant shall not discriminate on the basis of race, color, national origin, religion, sex, age, or disability in the selection and retention of Subconsultants, including procurement of materials and leases of equipment. The Consultant shall not participate either directly or indirectly in the discrimination prohibited by Section 21.5 of the U.S. DOT's Regulations, Exhibit C-1 17336.00603\31171937.1 591 including employment practices when the Agreement covers a program whose goal is employment. 2. DEBARMENT AND SUSPENSION CERTIFICATION CONSULTANT's signature affixed herein, shall constitute a certification under penalty of perjury under the laws of the State of California, that CONSULTANT has complied with Title 2 CFR, Part 180, "OMB Guidelines to Agencies on Government wide Debarment and Suspension (nonprocurement)", which certifies that he/she or any person associated therewith in the capacity of owner, partner, director, officer, or manager, is not currently under suspension, debarment, voluntary exclusion, or determination of ineligibility by any federal agency; has not been suspended, debarred, voluntarily excluded, or determined ineligible by any federal agency within the past three (3) years; does not have a proposed debarment pending; and has not been indicted, convicted, or had a civil judgment rendered against it by a court of competent jurisdiction in any matter involving fraud or official misconduct within the past three (3) years. Any exceptions to this certification must be disclosed to COMMISSION. B. Exceptions will not necessarily result in denial of recommendation for award, but will be considered in determining CONSULTANT responsibility. Disclosures must indicate to whom exceptions apply, initiating agency, and dates of action. C. Exceptions to the Federal Government Ex Iuded Parties List System maintained by the General Services Administration are e letermined by the Federal highway Administration. 3. DISCRIMINATION The Commission shall not discriminate on the basis of race, color, national origin, or sex in the award and performance of any DOT -assisted contract or in the implementation of the Caltrans DBE program or the requirements of 49 CFR Part 26. The Commission shall take all necessary and reasonable steps under 49 CFR Part 26 to ensure nondiscrimination in the award and administration of DOT -assisted contracts. Consultant or subcontractor shall not discriminate on the basis of race, color, national origin, of sex in the performance of this Agreement. Consultant or subcontractor shall carry out applicable requirements of 49 CFR Part 26 and the Caltrans DBE program in the award and administration of DOT -assisted contracts, as further set forth below. Failure by the Consultant or subcontractor to carry out these requirements is a material breach of this Agreement, which may result in the termination of this Agreement or such other remedy, as the Commission deems appropriate. 4. PROMPT PAYMENT Consultant agrees to pay each subcontractor under this prime contract for satisfactory performance of its contract no later than 10 days from the receipt of each payment the Exhibit C-2 17336.00603\31171937.1 592 prime contractor receives from the Commission. Any delay or postponement of payment from the above referenced time frame may occur only for good cause following written approval of the Commission. This clause applies to both DBE and non -DBE subcontractors. 5. RELEASE OF RETAINAGE No retainage will be withheld by the Agency from progress payments due the prime consultant. Retainage by the prime consultant or subconsultants is prohibited, and no retainage will be held by the prime consultant from progress due subconsultants. Any violation of this provision shall subject the violating prime consultant or subconsultants to the penalties, sanctions, and other remedies specified in Section 7108.5 of the California Business and Professions Code. This requirement shall not be construed to limit or impair any contractual, administra ,'ve, or judicial remedies, otherwise available to the prime consultant or subconsulta e event of a dispute involving late payment or nonpayment by the prime consults de k nt subconsultant performance, or noncompliance by a subconsultant. This lies to both DBE and non -DBE prime consultants and subconsultants. 6. LEGAL REMEDI In addition to those contract remedie either Party to this Agreement may, this Agreement pursuant to the rel relevant federal or state statutory pro, sio relevant federal and state provisions governin well as any and all other applicable federal orth under relevant provisions of California law, here a . - le, seek legal redress for violations of s of 49 C.F.R. Parts 23 and 26, to the ernin ivil rights violations, and to the r "whistleblower" actions, as s of law. The Consultant shall include a provision to this effect in each o subcontractors. 7. DBE PARTICIPATION agreements with its Caltrans has developed a statewide DBE program pursuant to 49 C.F.R. Part 26. The requirements and procedures, as applicable, of the Caltrans DBE program are hereby incorporated by reference into this Agreement. Even if no DBE participation will be reported, Consultant shall complete Exhibits "D" of this Agreement in compliance with the Caltrans DBE program, a final utilization report in the form provided by the Commission, and any other Caltrans required DBE forms. A. This Agreement is subject to Title 49, Part 26 of the Code of Federal Regulations entitled "Participation by Disadvantaged Business Enterprises in Department of Transportation Financial Assistance Programs." By obtaining DBE participation on this Agreement, Consultant will assist Caltrans in meeting its federally mandated statewide overall DBE goal. Exhibit C-3 17336.00603\31171937.1 593 B. This Agreement has established a 17% DBE goal. If a DBE subconsultant is unable to perform, the Consultant must make a good faith effort to replace him/her with another DBE subconsultant, if the goal is not otherwise met. A DBE is a firm meeting the definition of a DBE as specified in 49 CFR. C. DBE and other small businesses (SB), as defined in Title 49 CFR, Part 26 are encouraged to participate in the performance of agreements financed in whole or in part with federal funds. The Consultant, subrecipient or subconsultant shall not discriminate on the basis of race, color, national origin, or sex in the performance of this Agreement. The Consultant shall carry out applicable requirements of 49 CFR, Part 26 in the award and administration of US DOT- assisted agreements. Failure by the contractor to carry out these requirements is a material breach of this Agreement, which may result in the termination of this Agreement or such other remedy as the Commission, Caltrans or the Department of Transportati deems appropriate. D. Any subcontrac to as a result of this Agreement shall contain all of the provisions of this se E. A DBE may be terminated only with prior written approval from the Commission and only for the reasons specified in 49 CFR 26.53(f). Prior to requesting Commission consent for the termination, the prime consultant must meet the procedural requirements specified in 49 CFR 26.53(f). 8. DBE PARTICIPATION GENERAL INFORMATION It is Consultant's responsibility to be fully informed regarding the requirements of 49 CFR, Part 26, and the Caltrans DBE program. Particular attention is directed to the following: A. A DBE must be a small business firm defined pursuant to 13 CFR 121 and be certified through the California Unified Certification Program (CUCP). B. A certified DBE may participate as a prime contractor, subcontractor, joint venture partner, as a vendor of material or supplies, or as a trucking company. C. A DBE joint -venture partner must be responsible for specific contract items of work or clearly defined portions thereof. Responsibility means actually performing, managing and supervising the work with its own forces. The DBE joint venture partner must share in the capital contribution, control, management, risks and profits of the joint -venture commensurate with its ownership interest. D. A DBE must perform a commercially useful function, pursuant to 49 CFR 26.55 that is, must be responsible for the execution of a distinct element of the work and must carry out its responsibility by actually performing, managing and supervising the work, as more fully described in section 8 below. Exhibit C-4 17336.00603\31171937.1 594 E. The Consultant shall list only one subcontractor for each portion of work as defined in the Consultant's bid/proposal and all DBE subcontractors should be listed in the Consultant's bid/cost proposal list of subcontractors. F. A Consultant who is a certified DBE is eligible to claim all of the work in the Agreement toward the DBE participation except that portion of the work to be performed by non -DBE subcontractors. 9 . COMMERCIALLY USEFUL FUNCTION A. A DBE performs a commercially useful function when it is responsible for execution of the work of the Agreement and is carrying out its responsibilities by actually performing, managing, and supervising the work involved. To perform a commercially useful function, the DBE must also be resp.•nsible with respect to materials and supplies used on the Agreement, for negotiati and installing (where a DBE is performin subcontracted, ind Agreement is comme factors. , determining quality and quantity, ordering the material, nd paying for the material itself. To determine whether a ally useful function, evaluate the amount of work ther the amount the firm is to be paid under the rk it is actually performing, and other relevant B. A DBE does not perform a co an extra participant in a transaction in order to obtain the appearance such an extra participant, examine sim not participate. ially useful function if its role is limited to that of roject through which funds are passed tion. In determining whether a DBE is ons, ticularly those in which DBEs do C. If a DBE does not perform or exercise nsi for total cost of its Agreement with its own work force, or e DB portion of the work of the Agreement than would be expect industry practice for the type of work involved, it will be presu commercially useful function. ast thirty percent of the contracts a greater e basis of normal is not performing a 10. DBE CERTIFICATION AND DE -CERTIFICATION STATUS If a DBE subcontractor is decertified during the life of the Agreement, the decertified subcontractor shall notify the Contractor in writing with the date of de -certification. If a subcontractor becomes a certified DBE during the life of the Agreement, the subcontractor shall notify the Contractor in writing with the date of certification. Any changes should be reported to the Commission's Contract Administrator within 30 days. 11. DBE RECORDS A. The Contractor shall maintain records of materials purchased and/or supplied from all subcontracts entered into with certified DBEs. The records shall show the name and business address of each DBE or vendor and the total dollar amount actually paid each Exhibit C-5 17336.00603\31171937.1 595 DBE or vendor, regardless of tier. The records shall show the date of payment and the total dollar figure paid to all firms. DBE prime Contractors shall also show the date of work performed by their own forces along with the corresponding dollar value of the work. B. Upon completion of the Agreement, a summary of these records shall be prepared and submitted on the most current version of the form entitled, "Final Report -Utilization of Disadvantaged Business Enterprises (DBE)," CEM- 2402F (Exhibit 17-F in Chapter 17 of the LAPM), certified correct by the Contractor or the Contractor's authorized representative and shall be furnished to the Commission's Contract Administrator with the final invoice. Failure to provide the summary of DBE payments with the final invoice will result in twenty- five percent (25%) of the dollar value of the invoice being withheld from payment until the form is submitted. The amount will be returned to the Contractor when a satisfactory "Final Report Utilization of Disadvantaged Business Enterprises (DBE)" is submitted to the Commission's Contract Ad .nistrator. a. Prior to the fiftee Commission's Co companies. The Commission's Contra to all firms, including owner -op from a non -DBE, the Contrac a result of the lease arrangement. b. The Contractor shall also documentation showing the truck nu •er, number, and if applicable, the DBE certificati used during that month. This documentation DBE Trucking Verification," CEM-2404(F) Commission's Contract Administrator. month, the Contractor shall submit documentation to the trator showing the amount paid to DBE trucking all so obtain and submit documentation to the ing the amount paid by DBE trucking companies e leasing of trucks. If the DBE leases trucks ly the fee or commission the DBE receives as Commission's Contract Administrator of ow- ° , California Highway Patrol CA he truck owner for all trucks on the Caltrans "Monthly he Contractor by the 12. REPORTING MATERIAL OR SUPPLIES PURCHA DBEs When Reporting DBE Participation, Material or Supplies phased from DBEs may count as follows: A. If the materials or supplies are obtained from a DBE manufacturer, 100 % of the cost of the materials or supplies will count toward the DBE participation. A DBE manufacturer is a firm that operates or maintains a factory or establishment that produces on the premises, the materials, supplies, articles, or equipment required under the Agreement and of the general character described by the specifications. B. If the materials or supplies purchased from a DBE regular dealer, count 60 % of the cost of the materials or supplies toward DBE goals. A DBE regular dealer is a firm that owns, operates or maintains a store, warehouse, or other establishment in which the materials, supplies, articles or equipment of the general character described by the specifications and required under the Agreement, are bought, kept in stock, and regularly Exhibit C-6 17336.00603\31171937.1 596 sold or leased to the public in the usual course of business. To be a DBE regular dealer, the firm must be an established, regular business that engages, as its principal business and under its own name, in the purchase and sale or lease of the products in question. A person may be a DBE regular dealer in such bulk items as petroleum products, steel, cement, gravel, stone or asphalt without owning, operating or maintaining a place of business provided in this section. C. If the person both owns and operates distribution equipment for the products, any supplementing of regular dealers' own distribution equipment, shall be by a long-term lease agreement and not an ad hoc or Agreement -by -Agreement basis. Packagers, brokers, manufacturers' representatives, or other persons who arrange or expedite transactions are not DBE regular dealers within the meaning of this section. D. Materials or supplies purchased from a DBE, which is neither a manufacturer nor a regular dealer, will be limited t• the entire amount of fees or commissions charged for assistance in the proc._remen' „ the materials and supplies, or fees or transportation charges for the deliv- of mater Is or supplies required on the job site, provided the fees are reasonable an• «t exces ' • a ompared with fees charged for similar services. 13. REPORTING PA IP. N O1�DBE TRUCKING COMPANIES When Reporting DBE Participation, Part ation of DBE trucking companies may count as follows: A. The DBE must be responsible .r th.'7 age nr�ent and supervision of the entire trucking operation for which it is responsible. B. The DBE must itself own and operate operational truck used on the Agreement. ne fully licensed, insure, and C. The DBE receives credit for the total value of the tran ation services it provides on the Agreement using trucks it owns, insures, and operat s using drivers it employs. D. The DBE may lease trucks from another DBE firm including an owner -operator who is certified as a DBE. The DBE who leases trucks from another DBE receives credit for the total value of the transportation services the lessee DBE provides on the Agreement. E. The DBE may also lease trucks from a non -DBE firm, including an owner -operator. The DBE who leases trucks from a non -DBE is entitled to credit only for the fee or commission it receives as a result of the lease arrangement. The DBE does not receive credit for the total value of the transportation services provided by the lessee, since these services are not provided by the DBE. F. For the purposes of this section, a lease must indicate that the DBE has exclusive use and control over the truck. This does not preclude the leased truck from working for others during the term of the lease with the consent of the DBE, as long as the lease gives Exhibit C-7 17336.00603\31171937.1 597 the DBE absolute priority for use of the leased truck. Leased trucks must display the name and identification number of the DBE. 14. DEBARMENT, SUSPENSION AND OTHER INELIGIBILITY AND VOLUNTARY EXCLUSION In accordance with 49 CFR Part 29, which by this reference is incorporated herein, Consultant's subconsultants completed and submitted the Certificate of subconsultant Regarding Debarment, Suspension and Other Ineligibility and Voluntary Exclusion as part of the Consultant's proposal. If it is later determined that Consultant's subconsultants knowingly rendered an erroneous Certificate, the Commission may, among other remedies, terminate this Agreement. 15. ENVIRONMENTAL COMPLIANCE A. Compliance with all icable standards, orders, or requirements issued under section 306 of the Clean Air Act (42 U.S.C. 1857(h)), section 508 of the Clean Water Act (33 U.S.C. 1368), Executive Order 11738, and Environmental Protection Agency regulations (40 CFR part 15). (Contracts, subcontracts, and subgrants of amounts in excess of $100,000). B. Mandatory standards and policies relating to energy efficiency which are contained in the state energy conservation plan issued in compliance with the Energy Policy and Conservation Act (Pub. L. 94-163, 89 Stat. 871). 16. NATIONAL LABOR RELATIONS BOARD CERTIFICATION In accordance with Public Contract Code Section 10296, and by signing this Agreement, Consultant certifies under penalty of perjury that no more than one final unappealable finding of contempt of court by a federal court has been issued against Consultant within the immediately preceding two-year period, because of Consultant's failure to comply with an order of a federal court that orders Consultant to comply with an order of the National Labor Relations Board. Exhibit C-8 17336.00603\31171937.1 598 EXHIBIT "D" CONSULTANT DBE COMMITMENT Consultant to Complete this Section 1. Local Agency Name: Riverside County Transportation Commission 2. Project Location: Riverside County 3. Project Description: On -Call Environmental Consultin Services 4. Consultant Name: 5. Contract DBE Goal %: 17% E Commitment Information 6. Description of Services to be Provi 7. DBE Firm Cont t Information 8. DBE Cert. Number 9. DBE % Exhibit D-1 17336.00603\31171937.1 599 EXHIBIT "E" - FTA PROVISIONS FTA FUNDING REQUIREMENTS (Non-construction/maintenance work) As used herein, "RCTC" shall have the same meaning as the "Commission." The term "contract" or "Contract" shall have the same meaning as the "Agreement." 1. No Obligation by the Federal Government a. RCTC and Consultant acknowledge and agree that, notwithstanding any concurrence by the Federal Government in or approval of the solicitation or award of the underlying contract, absent the express written consent by the Federal Government, the Federal Government is not a party to this contract and shall not be subject to any obligations or liabilities to the Purchaser, Consultant, or any other party (whether or not a party to that contract) pertaining to any matter resulting from the underlying contract. b. The Consultant agre= • i . de the above clause in each subcontract financed in whole or in part with Federal assista ' .rovide., FTA. It is further agreed that the clause shall not be modified, except to identify the onsultant o w'll be subject to its provisions. 2. Program Fraud an t Statements or Related Acts a. The Consultant acknowl- . - es tha . visions of the Program Fraud Civil Remedies Act of 1986, as amended, 31 U.S.C. § 3801 seq. and DOT regulations, "Program Fraud Civil Remedies," 49 C.F.R. Part 31, apply to s actions peiTfning to this Project. Upon execution of the underlying contract, the Consultant certi yes or affirms the true lness and accuracy of any statement it has made, it makes, it may make, or causes to be made, per to the underlying contract or the FTA assisted project for which this contract work is being performed. In addition to other penalties that may be applicable, the Consultant further acknowledges that if itmakes, or causes to be made, a false, fictitious, or fraudulent claim, statement, subm4sion, or`aertificat. r the Federal Government reserves the right to impose the penalties of the Program Fraud Civil ► ies Act of 1986 on the Consultant to the extent the Federal Government deems appropriat b. The Consultant also acknowledges that if it makes, or ca - s to be made, a false, fictitious, or fraudulent claim, statement, submission, or certification to the Federal Government under a contract connected with a project that is financed in whole or in part with Federal assistance originally awarded by FTA under the authority of 49 U.S.C. § 5307, the Government reserves the right to impose the penalties of 18 U.S.C. § 1001 and 49 U.S.C. § 5307(n)(1) on the Consultant, to the extent the Federal Government deems appropriate. c. The Consultant agrees to include the above two clauses in each subcontract financed in whole or in part with Federal assistance provided by FTA. It is further agreed that the clauses shall not be modified, except to identify the subconsultant who will be subject to the provisions. 3. Access to Records The Consultant agrees to the following access to records requirements: 17336.00603\31171937.1 Exhibit E-1 600 a. To provide RCTC, the FTA Administrator, the Comptroller General of the United States or any of their authorized representatives access to any books, documents, papers and records of the Consultant which are directly pertinent to this contract for the purposes of making audits, examinations, excerpts and transcriptions. Consultant also agrees, pursuant to 49 C. F. R. 633.17 to provide the FTA Administrator or his authorized representatives including any PMO Consultant access to Consultant's records and construction sites pertaining to a major capital project, defined at 49 U.S.C. 5302(a)1, which is receiving federal financial assistance through the programs described at 49 U.S.C. 5307, 5309 or 5311. b. To make available in the case of a contract for a capital project or improvement, as defined above and awarded by other than competitive bidding in accordance with 49 U.S.C. 5325(a), records related to the contract to RCTC, the Secretary of Transportation and the Comptroller General or any authorized officer or employee of any of them for the purposes of conducting an audit and inspection. c. To maintain all books, records, accounts and reports required under this contract for a period of not less than three years after the*date of termination or expiration of this contract, except in the event of litigation or settlement of ¢lamasarising from the performance of this contract, in which case Consultant agrees to maintain same Ail RCTC, the FTA Administrator, the Comptroller General, or any of their duly authorized representatives, have disposed of all such litigation, appeals, claims or exceptions related thereto. Reference 49 18.39(i)(11). d. To permit any of the foregoing parties to reproduce by any means whatsoever or to copy excerpts and transcriptions as reasonably needed. • 4. Federal Changes The Consultant shall at all times comply with all ap ble FTA regulations, policies, procedures and directives, including without limitation those listed directly or by reference in the Master Agreement between RCTC and FTA, as they may be amended°or promulgated fre time to time during the term of this contract. Consultant's failure to so comply shall constituSe a ma t breach of this contract. 5. Civil Rights The following requirements apply to the underlying contract: (1) Nondiscrimination - In accordance with Title VI of the Civil Rights Act, as amended, 42 U.S.C. § 2000d, section 303 of the Age Discrimination Act of 1975, as amended, 42 U.S.C. § 6102, section 202 of the Americans with Disabilities Act of 1990, 42 U.S.C. § 12132, and Federal transit law at 49 U.S.C. § 5332 and 49 CFR part 21, the Consultant agrees that it will not discriminate against any employee or applicant for employment because of race, color, creed, national origin, sex, age, or disability. In addition, the Consultant agrees to comply with applicable Federal implementing regulations and other implementing requirements FTA may issue. (2) Equal Employment Opportunity - The following equal employment opportunity requirements apply to the underlying contract: (a) Race, Color, Creed, National Origin, Sex - In accordance with Title VII of the Civil Rights Act, as amended, 42 U.S.C. § 2000e, and Federal transit laws at 49 U.S.C. § 5332, the Consultant Exhibit E-2 17336.00603\31171937.1 601 agrees to comply with all applicable equal employment opportunity requirements of U.S. Department of Labor (U.S. DOL) regulations, "Office of Federal Contract Compliance Programs, Equal Employment Opportunity, Department of Labor," 41 C.F.R. Parts 60 et seq ., (which implement Executive Order No. 11246, "Equal Employment Opportunity," as amended by Executive Order No. 11375, "Amending Executive Order 11246 Relating to Equal Employment Opportunity," 42 U.S.C. § 2000e note), and with any applicable Federal statutes, executive orders, regulations, and Federal policies that may in the future affect construction activities undertaken in the course of the Project. The Consultant agrees to take affirmative action to ensure that applicants are employed, and that employees are treated during employment, without regard to their race, color, creed, national origin, sex, or age. Such action shall include, but not be limited to, the following: employment, upgrading, demotion or transfer, recruitment or recruitment advertising, layoff or termination; rates of pay or other forms of compensation; and selection for training, including apprenticeship. In addition, the Consultant agrees to comply with any implementing requirements FTA may issue. (b) Age - In accordance with section 4 of the Age Discrimination in Employment Act of 1967, as amended, 29 U.S.C. § § 6 ederal transit law at 49 U.S.C. § 5332, the Equal Employment Opportunity Commission ( OC) regulations, "Age Discrimination in Employment Act," 29 C.F.R. part 1625, the Ag scrimAtion Act of 1975, as amended, 42 U.S.C. § 6101 et seq., U.S. Health and Human Services regulations, "Nondiscrimination on the Basis of Age in Programs or Activities Receiving Federal Financial Assis' nce," 45 C.F.R. part 90, the Consultant agrees to refrain from discrimination against sent and prosp tive employees for reason of age. In addition, the Consultant agrees to comply with, im leme ng requirements FTA may issue. (c) Disabilities - In accordance w ° section 504 o the Rehabilitation Act of 1973, as amended, 29 U.S.C. § 794, the Americans with Disabilities Act of 1 90, as amended, 42 U.S.C. § 12101 et seq., the Architectural Barriers Act of 1968, as amended, 42 U.S.C. § 4151 et seq., and Federal transit law at 49 U.S.C. § 5332, the Consultant agrees that it will iscn e against individuals on the basis of disability, and that it will comply with the requir ent if U.S. Equal Employment Opportunity Commission, "Regulations to Implement the Equ mployment Pre? ' ions of the Americans with Disabilities Act," 29 C.F.R. Part 1630, pertaining t4 employment o sons with disabilities. In addition, the Consultant agrees to comply with any implementing requi is FTA may issue. (3) The Consultant also agrees to include these requirements in e or in part with Federal assistance provided by FTA, modified o affected parties. ubcontract financed in whole if necessary to identify the 6. FTA Disadvantaged Business Enterprise (DBE) Requirements A. General DBE Requirements: In accordance with Federal financial assistance agreements with the U.S. Depaitiiient of Transportation (U.S. DOT), Commission has adopted a Disadvantaged Business Enterprise (DBE) Policy and Program, in conformance with Title 49 CFR Part 26, "Participation by Disadvantaged Business Enterprises in Department of Transportation Programs" (the "Regulations"). This RFP is subject to these stipulated regulations. In order to ensure that Commission achieves its overall DBE Program goals and objectives, Commission encourages the participation of DBEs as defined in 49 CFR 26 in the performance of contracts financed in whole or in part with U.S. DOT funds. It is the policy of the Commission to: Exhibit E-3 17336.00603\31171937.1 602 1. Ensure nondiscrimination in the award and administration of DOT -assisted contracts; 2. Create a level playing field on which DBE's can compete fairly for DOT -assisted contracts; 3. Ensure that the DBE program is narrowly tailored in accordance with applicable law; 4. Ensure that only firms that fully meet 49 C.F.R. part 26 eligibility standards are permitted to participate as DBE's; 5. Help remove barriers to the participation of DBEs in DOT assisted contracts; 6. To promote the use of DBEs in all types of federally assisted contracts and procurement activities; and 7. Assist in the development of firms that can compete successfully in the marketplace outside the DBE program. B. Discrimination: Consultant s! 11 not discriminate on the basis of race, color, national origin, or sex in the award and performance of subcontracts. Any terms used herein that are defined in 49 CFR Part 26, or elsewhere in Regulation; 1 have the meaning set forth in the Regulations. C. Commission's Race -Neutral D rogram: A Race -Neutral DBE Program is one that, while benefiting DBEs, is not solely focused on DBE firms. Therefore, under a Race -Neutral DBE Program, Commission does not establish numeric o race -conscious : BE participation goals on its DOT -assisted contracts. There is no FTA DBE goal this Project' Consultant shall not be required to achieve a specific level of DBE participation as a condition of contract compliance in the performance of this DOT -assisted con t. However, Consultant shall adhere to race -neutral DBE participation corhmitment(s) made he time of award. D. Race -Neutral DBE Submissions and Ongoing Reporting ments (Post -Award): At termination of the Contract, the successful Consultant shall comp nd s mit to Commission a "DBE Race -Neutral Participation Listing" in the form provided b mmission. In the event DBE(s) are utilized in the performance of the Agreement, Consultant sh comply with applicable reporting requirements. E. Performance of DBE Subconsultants: DBE subconsultants listed by Consultant in its "DBE Race -Neutral Participation Listing" submitted at the time of proposal shall perform the work and supply the materials for which they are listed, unless Consultant has received prior written authorization from Commission to perform the work with other forces or to obtain the materials from other sources. Consultant shall provide written notification to Commission in a timely manner of any changes to its anticipated DBE participation. This notice should be provided prior to the commencement of that portion of the work. F. DBE Certification Status: If a listed DBE subconsultant is decertified during the life of this Agreement, the decertified subconsultant shall notify Consultant in writing with the date of decertification. If a non -DBE subconsultant becomes a certified DBE during the life of this Agreement, the DBE subconsultant shall notify Consultant in writing with the date of certification. Consultant shall Exhibit E-4 17336.00603\31171937.1 603 furnish the written documentation to Commission in a timely manner. Consultant shall include this requirement in all subcontracts. G. Consultant's Assurance Clause Regarding Non -Discrimination: In compliance with State and Federal anti -discrimination laws, Consultant shall affirm that it will not exclude or discriminate on the basis of race, color, national origin, or sex in consideration of contract award opportunities. Further, Consultant shall affirm that they will consider, and utilize subconsultants and vendors, in a manner consistent with non-discrimination objectives. H. Violations: Failure by the selected Consultant(s) to carry out these requirements shall be a material breach of the contract to be awarded pursuant to this RFP, which may result in the termination of the contract or such other remedy as the recipient deems appropriate, which may include, but is not limited to: (1) Withholding monthly progress payments; (2) Assessing sanctions; (3) Liquidated damages; an (4) Disqualifying the Co ant from future bidding as non -responsible. 49 C.F.R. § 26.13(b). I. Prompt Payment: Co ltant shall pay its subconsultants for satisfactory performance of their contracts no later than 30 days from receipt of h payment Commission makes to the Consultant. 49 C.F.R. § 26.29(a), unless a shorte#eriod is pro ded in the contract. J. Compliance with DBE Requirements Contained in F rovisions: Consultant shall comply with all DBE reporting and other requirements contain- . ' • greement. 7. Incorporation of Federal Transit Admin ati ' T • ' erms The preceding provisions include, in part, certain Sta . and Te s and ditions required by DOT, whether or not expressly set forth in the preceding contract provisio contractual provisions required by DOT, as set forth in FTA Circular 4220.1F are hereby inc . . ate . , reference. Anything to the contrary herein notwithstanding, all FTA mandated terms sh. . e deemed to control in the event of a conflict with other provisions contained in this Agreement. - Consultant shall not perform any act, fail to perform any act, or refuse to comply with any RCTC requests which would cause RCTC to be in violation of the FTA terms and conditions. 8. Debarment and Suspension. The Consultant agrees to the following: (1) It will comply with the following requirements of 2 CFR Part 180, subpart C, as adopted and supplemented by U.S. DOT regulations at 2 CFR Part 1200. (2) It will not enter into any "covered transaction" (as that phrase is defined at 2 CFR §§ 180.220 and 1200.220) with any subconsultant whose principal is, suspended, debarred, or otherwise excluded from participating in covered transactions, except as authorized by— (i) U.S. DOT regulations, "Nonprocurement Suspension and Debarment," 2 CFR Part 1200; (ii) U.S. OMB regulatory guidance, Exhibit E-5 17336.00603\31171937.1 604 "Guidelines to Agencies on Governmentwide Debarment and Suspension (Nonprocurement)," 2 CFR Part 180; and (iii) Other applicable federal laws, regulations, or requirements regarding participation with debarred or suspended recipients or third party participants. (3) It will review the U.S. GSA "System for Award Management — Lists of Parties Excluded from Federal Procurement and Nonprocurement Programs," if required by U.S. DOT regulations, 2 CFR Part 1200. 9. ADA Access Requirements The Consultant shall comply with all applicable requirements of the Americans with Disabilities Act of 1990 (ADA), 42 USC Section 12101 et seq; Section 504 of the Rehabilitation Act of 1973, as amended, 29 USC Section 794; 49 USC Section 5301(d). 10. Fly America To the extent applicable to the Services, the Consultant agrees to comply with 49 U.S.C. 40118 (the "Fly America" Act) in accordance wih the General Services Administration's regulations at 41 CFR Part 301-10, which provide that recipients and sub recipients of Federal funds and their consultants are required to use U.S. Flag air carriers for U.S. Government -financed international air travel and transportation of their person Ieffects or property, to the extent such service is available, unless travel by foreign air carrier is a matter of necessity, as defined by the Fly America Act. The Consultant shall submit, if a foreign air carrier was used; an appropriate certification or memorandum adequately explaining why service by a U.S. flag ai carrier was n available or why it was necessary to use a foreign air carrier and shall, in any eves; provide a cerficate of compliance with the Fly America requirements. The Consultant agrees to incl*the requirements of this section in all subcontracts that may involve international air transportation. 7 11. Cargo Preference - Use of United States la Vessels To the extent applicable to the Services, the Consultant agrees: 1. To use privately owned United States -Flag commercial els to ship at least 50 percent of the gross tonnage (computed separately for dry bulk c ers, dry cargo liners, and tankers) involved, whenever shipping any equipment, material, or commodities pursuant to the underlying contract to the extent such vessels are available at fair and reasonable rates for United States -Flag commercial vessels; 2. To furnish within 20 working days following the date of loading for shipments originating within the United States or within 30 working days following the date of leading for shipments originating outside the United States, a legible copy of a rated, "on -board" commercial ocean bill -of -lading in English for each shipment of cargo described in the preceding paragraph to the Division of National Cargo, Office of Market Development, Maritime Administration, Washington, DC 20590 and to the FTA recipient (through the Consultant in the case of a subconsultant's bill -of -lading.) Exhibit E-6 17336.00603\31171937.1 605 3. To include these requirements in all subcontracts issued pursuant to this contract when the subcontract may involve the transport of equipment, material, or commodities by ocean vessel. 11. Buy America — Not applicable. 12. Employment Provisions To the extent applicable to the Services, Consultant shall comply with the following: A. Equal Employment Opportunity — Not applicable. B. Copeland "Anti -Kickback" Act (18 U.S.C. 874 and 40 U.S.C. 276c) —Not applicable. C. Contact Work Hours and Safety Standards Act (40 U.S.C. 327-333) —Not applicable. D. Release of Retainage No retainage will be withheld by the RCTC from progress payments due Consultant. Retainage by Consultant or subconsultants is prohibited, and no retainage will be held by the prime consultant from progress due subconsultants .may violation of this provision shall subject the violating Consultant or subconsultants to the penalties, sanctions, and other remedies specified in Section 7108.5 of the California Business and Professions Code. This requirement shall not be construed to limit or impair any contractual, administrative, or judicial remedies, otherwise available to Consultant or subconsultant in the event of a disputq involving late ,payment or nonpayment by Consultant or deficient subconsultant performance, or noncompliar> by a s bconsultant. 13. Termination for Convenience RCTC may terminate the Agreement for convenience actor s . ce wit ' e terms of the Agreement. After such termination, the Consultant shall submit a final terminatio em- proposal to RCTC as directed. If the Consultant fails to submit a proposal within the time . wed, RCTC may determine, on the basis of information available, the amount, if any due the Cons • ant because of the termination and shall pay the amount determined. After the Consultant's proposal is received, RCTC and Consultant shall negotiate a fair and equitable settlement and the contract will be modified to reflect the negotiated agreement. If agreement cannot be reached, RCTC may issue a fmal determination and pay the amount determined. If the Consultant does not agree with this final determination or the determination resulting from the lack of timely submission of a proposal, the Consultant may appeal under the Disputes clause. 14. Administrative and Contractual Remedies on Breach; Termination for Cause a. The Consultant may be declared in breach of this Agreement ("Breach") if the Consultant fails to make delivery of the supplies or to perform the services within the time specified herein or any extension thereof; or if the Consultant fails to perform any of the other provisions of the contract, or so fails to make progress as to endanger performance of this contract in accordance with its terms. In case of any of the foregoing, RCTC shall notify the Consultant of the Breach, and the Consultant shall have Exhibit E-7 17336.00603\31171937.1 606 a period of ten (10) days (or such longer period as RCTC may authorize in writing) after receipt of notice from RCTC to cure the Breach. b. RCTC may, by written notice of termination to the Consultant specifying the effective date thereof, terminate the whole or any part of this contract, in the case of a Breach that is not cured within the timeframe set forth in (a) above ("Uncured Breach"). c. If the contract is terminated in whole or in part for an Uncured Breach, RCTC may procure upon such terms and in such manner as RCTC may deem appropriate, supplies or services similar to those so terminated, or may complete the services with its own forces. The Consultant shall be liable to RCTC for any excess costs for such similar supplies or services, and for any other costs incurred by RCTC as a result of the Uncured Breach. The Consultant shall continue the performance of this contract to the extent not terminated under the provisions of this clause. d. Except with respect to defaults of Subconsultants, the Consultant shall not be liable for any excess costs if the failure to perform the contract arises out of causes beyond the control and without the fault or negligence of the Consultant. If the failure to perform is caused by the default of a Subconsultant, and if such default ariSes out of causes beyond the control of both the Consultant and the Subconsultant, and without the fault or negligence of either of them, the Consultant shall not be liable for any excess costs for failure to perm, unless the supplies or services to be furnished by the Subconsultant were obtainabla.ixom other sous in sufficient time to permit the Consultant to meet the required project completion s*dul e. Payment for completed services o supplies delivered to and accepted by RCTC shall be at the contract price. RCTC may withhold fro amounts otherwise due the Consultant for such completed services or supplies such sum as RCTC determines to be necessary to protect RCTC against loss because of outstanding liens of claims of former lien holders, or to reimburse RCTC for any other costs related to the Uncured Breach. f. 4,If, after notice of termination of this contract cause, 's dete pined for any reason that an Uncured Breach did not exist, the rights and obligations of the parties shall be same as if the notice of termination had been issued pursuant to the provisions for termin ' n for nvenience of RCTC. 1shall g. The rights and remedies of RCTC provided in this clau not be exclusive and are in addition to any other rights and remedies provided by law, equity or under this contract including, but not limited to, the right to specific performance h. Notwithstanding the above, RCTC may, without providing an opportunity to cure, terminate the contract in accordance with the timeframe set forth in Section 17 of the contract, if RCTC determines such action is in its best interest based on the nature of the Breach. Such actions shall not limit any of RCTC's remedies set forth above. 16. Disputes a. Except as otherwise provided in this Agreement, any dispute concerning a question of fact arising under this Agreement which is not disposed of by supplemental agreement shall be decided by RCTC's Deputy Executive Director, who shall reduce the decision to writing and mail or otherwise furnish a copy thereof to the Consultant. The decision of the RCTC Deputy Executive Exhibit E-8 17336.00603\31171937.1 607 Director shall be final and conclusive unless, within thirty (30) days from the date of receipt of such copy, Consultant mails or otherwise furnishes to the RCTC Deputy Executive Director a written appeal addressed to RCTC's Executive Director. The decision of RCTC Executive Director or duly authorized representative for the determination of such appeals shall be final and conclusive. b. The provisions of this Paragraph shall not be pleaded in any suit involving a question of fact arising under this Agreement as limiting judicial review of any such decision to cases where fraud by such official or his representative or board is alleged, provided, however, that any such decision shall be fmal and conclusive unless the same is fraudulent or capricious or arbitrary or so grossly erroneous as necessarily to imply bad faith or is not supported by substantial evidence. In connection with any appeal proceeding under this Paragraph, the Consultant shall be afforded an opportunity to be heard and to offer evidence in support of its appeal. c. Pending fmal decision of a dispute hereunder, Consultant shall proceed diligently with the performance of this Agreement and in accordance with the decision of RCTC's Deputy Executive Director. This "Disputes" clause does not preclude consideration of questions of law in connection with decisions provided for above. Nothinz in this Agreement, however, shall be construed as making final the decision of any RCTC official o epresentative on a question of law, which questions shall be settled in accordance INA the laws q the State of California. 17. Lobbying See the Byrd Anti -Lobbying Am men , 31 U.S.C. 1352, as amended by the Lobbying Disclosure Act of 1995, P.L. 104-65 [to be codifie4t 2 U.S.C. § 1i 01, et seq.] - Consultants who apply or bid for an award of $100,000 or more shall file the certif ation required by 49 CFR part 20, "New Restrictions on Lobbying." Each tier certifies to the tier above t at it will not and has not used Federal appropriated funds to pay any person or organization for inf cing or attempting to influence an officer or employee of any agency, a member of Congre offic r employee of Congress, or an employee of a member of Congress in connection ing a ederal contract, grant or any other award covered by 31 U. S.C. 1352. Each tier sha . lso disejose th e of any registrant under the Lobbying Disclosure Act of 1995 who has made lobbying contacts o ehalf with non -Federal funds with respect to that Federal contract, grant or award cove by U.S.C. 1352. Such disclosures are forwarded from tier to tier up to the recipient. The eror shall complete and submit with its bid/proposal the attached Certification Regarding Lobb g, and if applicable, the Standard Form-LLL, "Disclosure Form to Report Lobbying." 18. Energy Conservation The Consultant agrees to comply with mandatory standards and policies relating to energy efficiency which are contained in the state energy conservation plan issued in compliance with the Energy Policy and Conservation Act. 19. Clean Water a. The Consultant agrees to comply with all applicable standards, orders or regulations issued pursuant to the Federal Water Pollution Control Act, as amended, 33 U.S.C. 1251 et seq. The Consultant agrees to report each violation to RCTC and understands and agrees that RCTC will, in Exhibit E-9 17336.00603\31171937.1 608 turn, report each violation as required to assure notification to FTA and the appropriate EPA Regional Office. d. The Consultant further agrees that: (1) It will not use any violating facilities; (2) It will report the use of facilities placed on or likely to be placed on the U.S. EPA "List of Violating Facilities;" (3) It will report violations of use of prohibited facilities to FTA; and (4) It will comply with the inspection and other requirements of the Clean Air Act, as amended, (42 U.S.C. §§ 7401 — 7671q); and the Federal Water Pollution Control Act as amended, (33 U.S.C. §§ 1251-1387). The Consultant also agrees to include these requirements in each subcontract exceeding $150,000 financed in whole or in part with Federal assistance provided by FTA. 20. Clean Air a. The Consultant pursuant to the Clean each violation to RCT required to assure notifica ees to c imply with all applicable standards, orders or regulations issued ct, as amended, 42 U.S.C. §§ 7401 et seq. The Consultant agrees to report unde ,stands and agrees that RCTC will, in turn, report each violation as Tend the propriate EPA Regional Office. li b. The Consultant fit ter agrees that: (1) It will not use any violating facilitie (2) It will report the use of facilities placed on or likely be played on the U.S. EPA "List of Violating Facilities;" (3) It will report violations of use of prohibited facilities to FTA; and (4) It will comply with the inspection and other re uirPu ents of the lion Air Act, as amended, (42 U.S.C. §§ 7401 — 7671q); and the Federal Water Po tion Control A amended, (33 U.S.C. §§ 1251-1387). c. The Consultant also agrees to include these requireme each subcontract exceeding $150,000 financed in whole or in part with Federal assistance p ided by FTA. 21. Recycled Products Recovered Materials - The Consultant agrees to comply with all the requirements of Section 6002 of the Resource Conservation and Recovery Act (RCRA), as amended (42 U.S.C. 6962), including but not limited to the regulatory provisions of 40 CFR Part 247, and Executive Order 12873, as they apply to the procurement of the items designated in Subpart B of 40 CFR Part 247. 21. SPECIAL PROVISION FOR PROMOTING COVID-19 SAFETY Section 49. Centers for Disease Control and Prevention Order on Requirements for Persons to Wear Masks While on Conveyances and at Transportation Hubs. Exhibit E-10 17336.00603\31171937.1 609 (a) Compliance with CDC Mask Order. The Centers for Disease Control and Prevention ("CDC") Order of January 29, 2021, titled Requirement for Persons to Wear Masks While on Conveyances and at Transportation Hubs ("CDC Mask Order"), applies to this Agreement. One of the objectives of the CDC Mask Order is "[m]aintaining a safe and operating transportation system." Consultant agrees that it will comply, and will require all subconsultants to comply, with the CDC Mask Order, to the extent the CDC Mask Order remains in effect. (b) Enforcement for non-compliance. Consultant agrees that FTA and RCTC may take enforcement action for non-compliance with the CDC Mask Order, to the extent the CDC Mask Order remains in effect, including: (1) enforcement actions authorized by 49 U.S.C. § 5329(g); (2) referring Consultant to the CDC or other Federal authority for enforcement action; (3) enforcement actions authorized by 2 CFR §§ 200.339 — .340; and (4) any other enforcement action authorized by Federal law or regulation. 22. Safe Operation of Motor Vehicles Pursuant to Federal Executive Order No. 13043, "Increasing Seat Belt Use in the United States," April 16, 1997, 23 U.S.C. Section 402 n2te, FTA encourages each third party consultant to adopt and promote on-the-job seat belt use policies and programs for its employees and other personnel that operate company owned, rented, or personally operated vehicles, and to include this provision in each third party subcontract involving the project. a. The Consultant is encouraged to adopt and promote on-the-job seat belt use policies and programs for its employees and other personnel thatope te company -owned vehicles, company -rented vehicles, or personally operated vehicles. The to "company-o ed" and "company -leased" refer to vehicles owned or leased either by the Consultal or RCTC. b. The Consultant agrees to adopt and enforce w place safety policies to decrease crashes caused by distracted drivers, including policies to ba ext aging while using an electronic device supplied by an employer, and driving a vehicle the riv awns or rents, a vehicle Contactor owns, leases, or rents, or a privately -owned vehicle wheh on ficial businein connection with the work performed under this contract. 23. Notification to FTA. a. If a current or prospective legal matter that may affect the Feder a> overnment emerges, the Consultant must promptly notify the FTA Chief Counsel and FTA Regional Counsel for the Region in which this Agreement is being performed. The types of legal matters that require notification include, but are not limited to, a major dispute, breach, default, litigation, or naming the Federal Government as a party to litigation or a legal disagreement in any forum for any reason. b. Matters that may affect the Federal Government include, but are not limited to, the Federal Government's interests in the Award, the accompanying Underlying Agreement, and any Amendments thereto, or the Federal Government's administration or enforcement of federal laws, regulations, and requirements. c. Additional Notice to U.S. DOT Inspector General. The Consultant must promptly notify the U.S. DOT Inspector General in addition to the FTA Chief Counsel or Regional Counsel for the Region in which the Commission located, if Consultant has knowledge of potential fraud, waste, or abuse occurring on a Project receiving assistance from FTA. The notification provision applies if a person has or may have submitted a false claim under the False Claims Act, 31 U.S.C. § 3729, et seq., or has or may have committed a criminal or civil Exhibit E-11 17336.00603\31171937.1 610 violation of law pertaining to such matters as fraud, conflict of interest, bid rigging, misappropriation or embezzlement, bribery, gratuity, or similar misconduct involving federal assistance. Knowledge, as used in this paragraph, includes, but is not limited to, knowledge of a criminal or civil investigation by a Federal, state, or local law enforcement or other investigative agency, a criminal indictment or civil complaint, or probable cause that could support a criminal indictment, or any other credible information in the possession of the Consultant. In this paragraph, "promptly" means to refer information without delay and without change. 24. Prohibition on Certain Telecommunications and Video Surveillance Services or Equipment Consultant shall not contract (or extend or renew a contract) to procure or obtain equipment, services, or systems that uses covered telecommunications equipment or services as a substantial or essential component of any system, or as critical technology as part of any system funded under this Contract. As described in Public Law 115-232, section 889, covered telecommunications equipment is telecommunications equipment produced by Huawei Technologies Company or ZTE Corporation (or any subsidiary or affiliate of such entities). a. For the purpose of public safe , security of government facilities, physical security surveillance of critical infrastructure, and other natio ecurity purposes, video surveillance and telecommunications equipment produced by Hytera Com ations C orporation, Hangzhou Hikvision Digital Technology Company, or Dahua Technology Co (or any su idiary or affiliate of such entities). b. Telecommunications or vei `e `slices provided by such entities or using such equipment. c. Telecommunications or video st fllan equi ent or services produced or provided by an entity that the Secretary of Defense, in consultation with theDirector of the National Intelligence or the Director of the Federal Bureau of Investigation, reasonably believes be an el led or controlled by, or otherwise connected to, the government of a covered foreign count Exhibit E-12 17336.00603\31171937.1 611 EXHIBIT "F" — LOBBYING ACTIVITIES DISCLOSURE Exhibit F-1 17336.00603\31171937.1 612 Local Assistance Procedures Manual EXHBIT 10-Q Disclosure of Lobbying Activities EXHIBIT 10-Q DISCLOSURE OF LOBBYING ACTIVITIES COMPLETE THIS FORM TO DISCLOSE LOBBYING ACTIVITIES PURSUANT TO 31 U.S.C. 1352 1. Type of Federal Action: a. contract b. grant c. cooperative agreement d. loan e. loan guarantee f. loan insurance 2. Status of Federal Action: 3. Report T ❑ a bid/offer/application b. initial award c. post -award 4. Name and Address of Reporting Entity nPrime nSubawardee Tier , if known Congressional District, if 6. Federal Department/A 8. Federal Action 10. Name and Address of L y (If individual, last name, first h 1 ( 12. Amount of Payme • eck all tha ap ) $ a ❑ planned 13. Form of Pa ■ a. c all that apply): inuation S d; specify: nature Value 5. If Reporting Enter >. me an • ❑ a. initi ateri, Change Only: r quarter .teDof last report 4 is Subawardee, ess of Prime: on sional District, if known al Program Name/Description: FDA Number, if applicable Award Amount, if known: 11. Individuals Performing Services (including address if different from No. 10) (last name, first name, MI) necessary) Type of Payment (check all that apply) • ■ i ■ ■ tainer time fee c. co on conting• fee e ferred f. other, spec 15. Brie scription of Services Performed or to be performed and Date(s) + ` ice, ' i uding officer , employee(s), or member(s) contacted, for Payment Indicate s tem 12: (attach Continuation Sheet(s) if necessary) 16. Continuation Sheet(s) attached: Yes n No 17, Information requested through this form is authorized by Title 31 U.S.C. Section 1352. This disclosure of lobbying reliance was placed by the tier above when his transaction was made or entered into. This disclosure is required pursuant to 31 U.S.C. 1352. This information will be reported to Congress semiannually and will be available for public inspection. Any person who fails to file the required disclosure shall be subject to a civil penalty of not less than $10,000 and not more than $100,000 for each such failure. Signature: 74"a . t du . /0-24Q14UL Print Name: Hawani Tessema Title: Senior Manager, Contracts Telephone No.: +1 703-462-6915 Date: 7/13/2022 Authorized for Local Reproduction Federal Use Only: Standard Form - LLL Standard Form LLL Rev. 04-28-06 Distribution: Orig- Local Agency Project Files LPP 13-01 613 Page 1 May 8,2013 ATTACHMENT 4 Agreement No. 22-31-105-00 PROFESSIONAL SERVICES AGREEMENT WITH PROPOSITION 1 B, FTA AND FHWA FUNDING ASSISTANCE RIVERSIDE COUNTY TRANSPORTATION COMMISSION AGREEMENT WITH STANTEC CONSULTING SERVICES, INC. FOR ON -CALL ENVIRONMENTAL CONSULTING SERVICES Parties and Date. This Agreement made and entered into this day of , 2022, by and between the RIVERSI COUNTY TRANSPORTATION COMMISSION ("the Commission") and STANTEC CONSULTING SERVICES, INC. ("Consultant"), a Corporation. The Commission and Consultant are sometimes referred to herein individually as "Party", and collectively as the arties". Recitals. A. On November 8, 1988 the Voters of Riverside County approved Measure A authorizing the collection of a one-half percent (1/2 %) retail transactions and use tax (the "tax") to fund transportation programs and improvements within the County of Riverside, and adopting the Riverside County Transportation Improvement Plan (the "Plan"). B. Pursuant to Public Utility Code Sections 240000 et seq., the Commission is authorized to allocate the proceeds of the Tax in furtherance of the Plan. C. On November 5, 2002, the voters of Riverside County approved an extension of the Measure A tax for an additional thirty (30) years for the continued funding of transportation and improvements within the County of Riverside. D. A source of funding for payment for on -call professional consulting services provided under this Agreement may be State Proposition 1B funds, Federal Highway Administration Funds ("FHWA") administered by the California Department of Transportation ("Caltrans"), and/or funds from the Federal Transit Administration ("FTA"). E. Consultant desires to perform and assume responsibility for the provision of certain on -call environmental consulting services in the County of Riverside, California. Services shall be provided on the terms and conditions set forth in this Agreement and in the task order(s) to be issued pursuant to this Agreement and executed by the Commission and the Consultant ("Task Order"). Consultant represents that it is experienced in providing such services to public clients, is licensed in the State of California (if necessary), and is familiar with the plans of the Commission. 614 F. The Commission desires to engage Consultant to render such services on an on -call basis. Services shall be ordered by Task Order(s) to be issued pursuant to this Agreement for future projects as set forth herein and in each Task Order (each such project shall be designated a "Project" under this Agreement). Terms. 1. General Scope of Services. Consultant shall furnish all technical and professional services, including labor, material, equipment, transportation, supervision and expertise, and incidental and customary work necessary to fully and adequately supply the on -call environmental consulting services for the Projects ("Services"). The Services are generally described in Exhibit "A" attached hereto and incorporated herein by reference. The Services shall be more particularly described in the individual Task Orders issued by the Commission's Executive Director or designee. No Services shall be performed unless authorized by a fully exec in accordance with, this and incorporated her and regulations. ask Order. All Services shall be subject to, and performed t, the relevant Task Order, the exhibits attached hereto ce, and all applicable local, state and federal laws, rules 2. Commenc t o =rvic The Consultant shall commence work upon receipt of a written "Notice to ' c " or %'imited Notice to Proceed" from Commission. 3. Pre -Award Audit. As sult of t •eral funding for this Project, and to the extent Caltrans procedures apply c• - • therewith, issuance of a "Notice to Proceed" may be contingent upon c• d app oval of a pre -award audit. Any questions raised during the pre -award audit be r d before the Commission will consider approval of this Agreement. The f; -ral pro d under this Agreement is contingent on meeting all Federal requireme s c d be drawn, thereby entitling the Commission to terminate this Agreement, i e pro dures not completed. The Consultant's files shall be maintained in a manner to facilitate F and State process reviews. In addition, the applicable federal agency, or Caltra ting behalf of a federal agency, may require that prior to performance of work for which Federal reimbursement is requested and provided, that said federa gency or Caltrans must give to Commission an "Authorization to Proceed". 4. Audit Procedures. Consultant and subconsultant contracts, including cost proposals and ICR, are subject to audits or reviews such as, but not limited to, a contract audit, an incurred cost audit, an Independent Cost Review (ICR) Audit, or a CPA ICR audit work paper review. If selected for audit or review, this Agreement, Consultant's cost proposal and ICR and related work papers, if applicable, will be reviewed to verify compliance with 48 CFR, Part 31 and other related laws and regulations. In the instances of a CPA ICR audit work paper review it is Consultant's responsibility to ensure federal, state, or local government officials are allowed full access to the CPA's work papers including making copies as necessary. This Agreement, Consultant's cost proposal, and ICR shall be adjusted by Consultant and approved by the Commission's contract manager to conform to the audit or review recommendations. Consultant agrees that individual terms of costs identified in the audit report shall be incorporated into this Agreement by this 615 reference if directed by Commission at its sole discretion. Refusal by Consultant to incorporate audit or review recommendations, or to ensure that the federal, state or local governments have access to CPA work papers, will be considered a breach of the Agreement terms and cause for termination of this Agreement and disallowance of prior reimbursed costs. Additional audit provisions applicable to this Agreement are set forth in Sections 23 and 24 of this Agreement. 5. Term. 5.1 This Agreement shall go into effect on the date first set forth above, contingent upon approval by Commission, and Consultant shall commence work after notification to proceed by Commission's Contract Administrator. This Agreement shall end three years from the date set forth above, unless extended by contract amendment. The Commission shall have the option to extend the term for one, two-year option. In no case shall the term of this Agr, uu_-nt exceed five (5) years. All Task Order work should be completed within the t 5.2 not binding on Com Commission. ad ised that any recommendation for contract award is reement is fully executed and approved by the 5.3 This A• eme unless earlier terminated as provi within the term of this Agreement, deadlines. All applicable indemni effect following the termination of this Agree emain in effect until the date set forth above, herein ' •nsultant shall complete the Services s. any other established schedules and ons o this Agreement shall remain in 6. Commission's Contract Admini a W Co ' ' R ission hereby designates the Commission's Executive Director, or his her igne_- .o act as its Contract Administrator for the performance of this Agreement ( ission's Contract Administrator"). Commission's Contract Administrator shall the uthority to act on behalf of the Commission for all purposes under this Agree t. Commission's Contract Administrator shall also review and give approval, as need` , to the details of Consultant's work as it progresses. Consultant shall not accept direction or orders from any person other than the Commission's Contract Administrator or his or her designee. 7. Consultant's Representative. Consultant hereby designates Gilberto Ruiz to act as its Representative for the performance of this Agreement ("Consultant's Representative"). Consultant's Representative shall have full authority to act on behalf of Consultant for all purposes under this Agreement. The Consultant's Representative shall supervise and direct the Services, using his or her professional skill and attention, and shall be responsible for all means, methods, techniques, sequences and procedures and for the satisfactory coordination of all portions of the Services under this Agreement. Consultant shall work closely and cooperate fully with Commission's Contract Administrator and any other agencies which may have jurisdiction over, or an interest in, the Services. Consultant's Representative shall be available to the Commission staff at all reasonable 616 times. Any substitution in Consultant's Representative shall be approved in writing by Commission's Contract Administrator. 8. Substitution of Key Personnel. Consultant has represented to the Commission that certain key personnel will perform and coordinate the Services under this Agreement. Should one or more of such personnel become unavailable, Consultant may substitute other personnel of at least equal competence upon written approval by the Commission. In the event that the Commission and Consultant cannot agree as to the substitution of the key personnel, the Commission shall be entitled to terminate this Agreement for cause, pursuant to the provisions herein. The key personnel for performance of this Agreement are: Gilberto Ruiz, Robert Prohaska, Michael Weber, Jared Varonin, Christine Abraham, Caitlin Schroeder, and Daryl Zerfass, or as otherwise identified in the Task Order. 9. Standard of Care; Licenses. Consultant represents and maintains that it is skilled in the professional calling necessary to perform all Services, duties and obligations required by this Agreement to fully and adequately complete the Project. Consultant shall perform the Services and duties in conformance to and consistent with the standards generally recognized as being employed by professionals in the same discipline in the State of California. Consultant warrants that all employees and subcontractors shall have sufficient skill and experience to perform the Services assigned to them. Consultant further represents and warrants to the Commission that its employees and subcontractors have all licenses, permits, qualifications and approvals of whatever nature that are legally required to perform the Services, and that such licenses and approvals shall be maintained throughout the term of this Agreement. Consultant shall perform, at its own cost and expense and without reimbursement from the Commission, any services necessary to correct errors or omissions which are caused by the Consultant's failure to comply with the standard of care provided for herein, and shall be fully responsible to the Commission for all damages and other liabilities provided for in the indemnification provisions of this Agreement arising from the Consultant's errors and omissions. Any employee of Consultant or its sub -consultants who is determined by the Commission to be uncooperative, incompetent, a threat to the adequate or timely completion of the Project, a threat to the safety of persons or property, or any employee who fails or refuses to perform the Services in a manner acceptable to the Commission, shall be promptly removed from the Project by the Consultant and shall not be re-employed to perform any of the Services or to work on the Project. 10. Independent Contractor. The Services shall be performed by Consultant or under its supervision. Consultant will determine the means, methods and details of performing the Services subject to the requirements of this Agreement. Commission retains Consultant on an independent contractor basis and not as an employee, agent or representative of the Commission. Consultant retains the right to perform similar or different services for others during the term of this Agreement. Any additional personnel performing the Services under this Agreement on behalf of Consultant shall at all times be under Consultant's exclusive direction and control. Consultant shall pay all wages, salaries and other amounts due such personnel in connection with their performance of Services and as required by law. Consultant shall be responsible for all reports and obligations 617 respecting such personnel, including but not limited to, social security taxes, income tax withholdings, unemployment insurance, disability insurance, and workers' compensation insurance. 11. Task Orders; Commencement of Services; Schedule of Services. Consultant shall commence Services under a Task Order within five (5) days of receiving a fully executed Task Order from the Commission. Each Task Order shall identify the funding source(s) to be used to fund the Services under the relevant Task Order, and Consultant shall comply with the requirements specified herein, and in the attached exhibits, applicable to the identified funding source(s). Consultant shall perform the Services expeditiously, within the term of this Agreement, and in accordance with any schedule of Services set forth in a Task Order ("Schedule"). Consultant represents that it has the professional and technical personnel to perform the Services in formance with such conditions. In order to facilitate Consultant's conforman� ith Schedule, the Commission shall respond to Consultant's submittals in a time) anner. pon request of Commission's Contract Administrator, Consultant shall pr e a mor- tai -d schedule of anticipated performance to meet the Schedule of Services. 11.1 Modifica o' a dule. Consultant shall regularly report to the Commission, through corre`•onde progress reports, its progress in providing required Services within the sche•;: ed time +ds. Commission shall be promptly informed of all anticipated delays. I e = Consultant determines that a schedule modification is necessary, Consultant • y sub 't a revised Schedule of Services for approval by Commission's Contract Admi 11.2 Trend Meetings. Cons t.,, h- con• trend meetings with the Commission's Contract Administrator and oth- intere=-d pa as requested by the Commission, on a bi-weekly basis or as may be mutually sch by the Parties at a standard day and time. These trend meetings will enco s fo sed and informal discussions concerning scope, schedule, and current pro s of Services, relevant cost issues, and future Project objectives. Consultant shall be esponsible for the preparation and distribution of meeting agendas to be received by the Commission and other attendees no later than three (3) working days prior to the meeting. 11.3 Progress Reports. As part of its monthly invoice, Consultant shall submit a progress report, in a form determined by the Commission, which will indicate the progress achieved during the previous month in relation to the Schedule of Services. Submission of such progress report by Consultant shall be a condition precedent to receipt of payment from the Commission for each monthly invoice submitted. 12. Delay in Performance. 12.1 Excusable Delays. Should Consultant be delayed or prevented from the timely performance of any act or Services required by the terms of the Agreement by reason of acts of God or of the public enemy, acts or omissions of the Commission or 618 other governmental agencies in either their sovereign or contractual capacities, fires, floods, epidemics, quarantine restrictions, strikes, freight embargoes or unusually severe weather, performance of such act shall be excused for the period of such delay. 12.2 Written Notice. If Consultant believes it is entitled to an extension of time due to conditions set forth in subsection 12.1, Consultant shall provide written notice to the Commission within seven (7) working days from the time Consultant knows, or reasonably should have known, that performance of the Services will be delayed due to such conditions. Failure of Consultant to provide such timely notice shall constitute a waiver by Consultant of any right to an excusable delay in time of performance. 12.3 Mutual Agreement. Performance of any Services under this Agreement may be delayed upon mutual agreement of the Parties. Upon such agreement, Consultant's Schedule of Services shall be extended as necessary by the Commission. Consultant -il ir`- take all reasonable steps to minimize delay in completion, and additional costs, rm any such extension. 13. Preli ry Revie ' . of ork. All reports, working papers, and similar work products prepared fo • mi i • urse of providing Services under this Agreement shall be submitted to t - " m ril( ' ion ontract Administrator in draft form, and the Commission may require revi r > s _ uc _^rafts prior to formal submission and approval. In the event plans and desig are eveloped as part of the Project, final detailed plans and designs shall be continge r ' upon ob g environmental clearance as may be required in connection with Feder H un• E e event that Commission's Contract Administrator, in his or her sole discre , • nes th formally submitted work product to be not in accordance with the standard are fished under this Agreement, Commission's Contract Administrator may r- ; ire sul to revise and resubmit the work at no cost to the Commission. 14. Appearance at Hearings. If and when requir the Commission, Consultant shall render assistance at public hearings or of me- gs related to the Project or necessary to the performance of the Services. H.; ;: ver, Consultant shall not be required to, and will not, render any decision, interpretatio`` or recommendation regarding questions of a legal nature or which may be construed as constituting a legal opinion. 15. Opportunity to Cure; Inspection of Work. Commission may provide Consultant an opportunity to cure, at Consultant's expense, all errors and omissions which may be disclosed during Project implementation. Should Consultant fail to make such correction in a timely manner, such correction may be made by the Commission, and the cost thereof charged to Consultant. Consultant shall allow the Commission's Contract Administrator, Caltrans and FHWA to inspect or review Consultant's work in progress at any reasonable time. 16. Claims Filed by Contractor. 16.1 If claims are filed by the Commission's contractor for the Project ("Contractor") relating to work performed by Consultant's personnel, and additional 619 information or assistance from the Consultant's personnel is required by the Commission in order to evaluate or defend against such claims; Consultant agrees to make reasonable efforts to make its personnel available for consultation with the Commission's construction contract administration and legal staff and for testimony, if necessary, at depositions and at trial or arbitration proceedings. 16.2 Consultant's personnel that the Commission considers essential to assist in defending against Contractor claims will be made available on reasonable notice from the Commission. Consultation or testimony will be reimbursed at the same rates, including travel costs that are being paid for the Consultant's personnel services under this Agreement. 16.3 Services of the Consultant's personnel and other support staff in connection with Contractor claims will be performed pursuant to a written contract amendment, if necessa ending the termination date of this Agreement in order to finally resolve the clai 16.4 nothing c• :,`ain-_• in this Section shall be construed to in any way limit Consultant's indem contained in Section 29. In the case of any conflict between this S- any -ctio •9, Section 29 shall govern. This Section is not intended to obligate the Co eimburse Consultant for time spent by its personnel related to Contra r clai hich Consultant is required to indemnify and defend the Commission pursuant t ection • this Agreement. 17. Final Acceptance. Up• ' ' ion by the Commission that Consultant has satisfactorily completed the Services re -d u his Agreement and within the term set forth herein the Commission shall ,°` ive su t a written Notice of Final Acceptance. Upon receipt of such notic nt s .R, incur no further costs hereunder, unless otherwise specified in the N e of I Acc :.. nce. Consultant may request issuance of a Notice of Final Acceptance when, in its o it has satisfactorily completed all Services required under the terms of this Agree ► In =`e event copyrights are permitted under this Agreement, then in connection wi ederal funding, it is hereby acknowledged and agreed that the United States Departm t of Transportation shall have the royalty -free non-exclusive and irrevocable right to reproduce, publish, or otherwise use, and to authorize others to use, the work for governmental purposes. 18. Laws and Regulations. Consultant shall keep itself fully informed of and in compliance with all local, state and federal laws, rules and regulations in any manner affecting the performance of the Project or the Services, including all Cal/OSHA requirements, and shall give all notices required by law. For example, and not by way of limitation, Consultant shall keep itself fully informed of and in compliance with all implementing regulations, design standards, specifications, previous commitments that must be incorporated in the design of the Project, and administrative controls including those of the United States Department of Transportation. Compliance with Federal procedures may include completion of the applicable environmental documents and approved by the United States Department of Transportation. For example, and not by way of limitation, a signed Categorical Exclusion, Finding of No Significant Impact, or published 620 Record of Decision may be required to be approved and/or completed by the United States Department of Transportation. For Consultant shall be liable for all violations of such laws and regulations in connection with Services. If the Consultant performs any work knowing it to be contrary to such laws, rules and regulations and without giving written notice to the Commission, Consultant shall be solely responsible for all costs arising therefrom. Consultant shall defend, indemnify and hold Commission, its officials, directors, officers, employees and agents free and harmless, pursuant to the indemnification provisions of this Agreement, from any claim or liability arising out of any failure or alleged failure to comply with such laws, rules or regulations. 19. Fees and Payment. 19.1 The method of payment for this Agreement will be based on actual cost plus a fixed fee. Commission shall reimburse Consultant for actual costs (including labor costs, employee be r uii,, , travel, equipment rental costs, overhead and other direct costs) incurred by Co an . performance of the Services. Consultant shall not be reimbursed for actu. osts th ':„exceed the estimated wage rates, employee benefits, travel, equipment d, d other estimated costs set forth in the approved Consultant cost pro to as Exhibit "B" and incorporated herein by reference, or any cost p : •sal Ude• part of a Task Order ("Cost Proposal") unless additional reimbursement is •v . . fo •y written amendment. The overhead rates included in the attached Exh °• it "B" • e fixed for the term of the Master Agreement, and shall not be subject to adjustm: , unless red by the applicable funding source. In In no event, shall Consultant be i : overhead costs at a rate that exceeds Commission's approved overhead r.' s- . • in the ost Proposal. In the event that Commission determines that a change to t" erv' m that specified in the Cost Proposal, this Agreement or any Task Ord s r red, Agreement time or actual costs reimbursable by Commission sha a ed written amendment to accommodate the changed work. The maxim total st as r.-cified in Section 19.8 shall not be exceeded, unless authorized by a written amend 19.2 In addition to the allowable incurre sts, Commission shall pay Consultant a fixed fee to be set forth in each Task Order `'' ` ixed Fee"). The Fixed Fee is nonadjustable for each Task Order, except in the event of a significant change in the Scope of Services, and such adjustment is made by written amendment. 19.3 Reimbursement for transportation and subsistence costs shall not exceed the rates specified in the approved Cost Proposal. In addition, payments to Consultant for travel and subsistence expenses claimed for reimbursement or applied as local match credit shall not exceed rates authorized to be paid exempt non -represented State employees under current State Department of Personnel Administration (DPA) rules, unless otherwise authorized by Commission. If the rates invoiced are in excess of those authorized DPA rates, and Commission has not otherwise approved said rates, then Consultant is responsible for the cost difference and any overpayments shall be reimbursed to the Commission on demand. 621 19.4 When milestone cost estimates are included in the approved Cost Proposal for a Task Order, Consultant shall obtain prior written approval for a revised milestone cost estimate from the Contract Administrator before exceeding such cost estimate. 19.5 Progress payments shall be made monthly in arrears based on Services provided and allowable incurred costs. A pro rata portion of the Fixed Fee shall be included in the monthly progress payments. If Consultant fails to submit the required deliverable items according to the schedule set forth in the Scope of Services, Commission shall have the right to delay payment or terminate this Agreement in accordance with the provisions of Section 21, Termination. 19.6 No payment shall be made prior to approval of any Services, nor for any Services performed prior to approval of this Agreement. 19.7 C permit upon receipt triplicate. Invoices of work for which C milestone and each pro approved Cost Proposal and invoice must contain the al co equipment purchased under the E final invoice should be submitted w work. Invoices shall be mailed to C address: hall be reimbursed, as promptly as fiscal procedures will sion's Contract Administrator of itemized invoices in ted . o later than 45 calendar days after the performance voices shall detail the work performed on each voices shall follow the format stipulated for the this Agreement number and project title. Final all credits due Commission including any se provisions of this Agreement. The r days after completion of Consultant's Contract Administrator at the following Riverside County Transportation Commissi Attention: Accounts Payable P.O. 12008 Riverside, CA 92502 19.8 The total amount payable by Comm ion, including the Fixed Fee, shall not exceed the amount set forth in each Task Order. 19.9 Commission has or will enter into four (4) task order contracts for performance of the Scope of Services identified in Exhibit "A", including this Agreement ("Environmental Services Task Order Contracts"). The other Environmental Services Task Order Contracts are GPA Consulting, HNTB Corporation, and ICF Jones & Stokes. The total amount payable by Commission for the Environmental Services Task Order Contracts shall not exceed a cumulative maximum total value of Three Million Dollars ($3,000,000) ("NTE Sum"). It is understood and agreed that there is no guarantee, either expressed or implied that this dollar amount will be authorized under the Environmental Services Task Order Contracts through Task Orders. Each time a Task Order is awarded under any of the Environmental Services Task Order Contracts, Commission must send written notification to Consultant and each of the other consultants entering into the Environmental Services Task Order Contracts. The notice must identify the total funds 622 allocated under issued Task Orders, and the remaining unencumbered amount of the NTE Sum. Consultant acknowledges and agrees that Commission must not pay any amount under this Agreement that would exceed the NTE Sum, and Consultant must not enter into a Task Order that exceeds the NTE Sum. 19.10 Salary increases shall be reimbursable if the new salary is within the salary range identified in the approved Cost Proposal and is approved by Commission's Contract Administrator. For personnel subject to prevailing wage rates as described in the California Labor Code, all salary increases, which are the direct result of changes in the prevailing wage rates are reimbursable. 19.11 Consultant shall not be reimbursed for any expenses unless authorized in writing by the Commission's Contract Administrator. 19.12 All s •ntracts in excess of $25,000 shall contain the above provisions. 20.1 Any disp , audit, concerning a question of fact arising under this Agreement that i .t dis .f by mutual agreement of the Parties shall be decided by a committee consisting RCTC's ► tract Administrator and the Director of Capital Projects, who may conside ritte - :I information submitted by Consultant. 20.2 Not later than 30 day Agreement, Consultant may request review unresolved claims or disputes, other than au writing. tion of all Services under this sion's Executive Director of eview will be submitted in 20.3 Neither the pendency of a dispute, no committee will excuse Consultant from full and timely perfor terms of this Agreement. 21. Termination. sideration by the ce in accordance with the 21.1 Commission reserves the right to terminate this Agreement upon thirty (30) calendar days written notice to Consultant, for any or no reason, with the reasons for termination stated in the notice. Commission may terminate Services under a Task Order, at any time, for any or no reason, with the effective date of termination to be specified in the notice of termination of Task Order. 21.2 Commission may terminate this Agreement with Consultant should Consultant fail to perform the covenants herein contained at the time and in the manner herein provided. In the event of such termination, Commission may proceed with the Services in any manner deemed proper by Commission. If Commission terminates this Agreement with Consultant, Commission shall pay Consultant the sum due to Consultant under this Agreement for Services completed and accepted prior to termination, unless the 623 cost of completion to Commission exceeds the funds remaining in the Agreement. In such case, the overage shall be deducted from any sum due Consultant under this Agreement and the balance, if any, shall be paid to Consultant upon demand. 21.3 In addition to the above, payment upon termination shall include a prorated amount of profit, if applicable, but no amount shall be paid for anticipated profit on unperformed Services. Consultant shall provide documentation deemed adequate by Commission's Contract Administrator to show the Services actually completed by Consultant prior to the effective date of termination. This Agreement shall terminate on the effective date of the Notice of Termination 21.4 Upon receipt of the written Notice of Termination, Consultant shall discontinue all affected Services as directed in the Notice or as otherwise provided herein, and deliver to the Commission all Documents and Data, as defined in this Agreement, as may have been prepared accumulated by Consultant in performance of the Services, whether completed or ' •ro• ',s. 21.5 for any reasonable the Commission has Commission has determined complete the Project beca it d Agreement. Termination of this Commission in determining wheth bove, Consultant shall be liable to the Commission red by the Commission to revise work for which ultant under this Agreement, but which the etion needs to be revised, in part or whole, to eet the standard of care established in this reemen cause may be considered by the uture agreements with Consultant. 21.6 The rights and remedie he P ; ! provided in this Section are in addition to any other rights and remedies pr' 'de• la under this Agreement. 21.7 Consultant, in executing Agr ent, II be deemed to have waived any and all claims for damages which may otherwise ari : the Commission's termination of this Agreement, for convenience or cause, as _ id - i ®in this Section. 21.8 Consultant may not terminate this A i -ement except for cause. 22. Cost Principles and Administrative Requirements. 22.1 Consultant agrees that the Contract Cost Principles and Procedures, 48 CFR, Federal Acquisition Regulations System, Chapter 1, Part 31.000 et seq., shall be used to determine the cost allowability of individual items. 22.2 Consultant also agrees to comply with federal procedures in accordance with 2 CFR, Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. 22.3 Any costs for which payment has been made to CONSULTANT that are determined by subsequent audit to be unallowable under 2 CFR, Part 200 and 48 CFR, Federal Acquisition Regulations System, Chapter 1, Part 31.000 et seq., are subject to repayment by Consultant to Commission. 624 22.4 All subcontracts in excess of $25,000 shall contain the above provisions. 23. Retention of Records/Audit. For the purpose of determining compliance with, as applicable, 2 CFR Part 200, Public Contract Code 10115, et seq. and Title 21, California Code of Regulations, Chapter 21, Section 2500 et seq., when applicable and other matters connected with the performance of this Agreement pursuant to Government Code 8546.7; Consultant, subconsultants, and Commission shall maintain and make available for inspection all books, documents, papers, accounting records, and other evidence pertaining to the performance of this Agreement, including but not limited to, the costs of administering this Agreement. All parties shall make such materials available at their respective offices at all reasonable times during the Agreement period and for three years from the date of final payment under this Agreement. The State, State Auditor, Commission, FHWA, or a duly authorized representative of the State or Federal Government shall have a to any books, records, and documents of Consultant and it's certified public acco nts 'A) work papers that are pertinent to this Agreement and indirect cost rates (I for and""` examinations, excerpts, and transactions, and copies thereof shall be fur ed if req ;.te• ubcontracts in excess of $25,000 shall contain this provision. 23.1 Accounti , :� ;: nsultantand its subcontractors shall establish and maintain an accounting s stem ,; > cords that properly accumulate and segregate expenditures by line item for the Se ,' ces. T ounting system of Consultant and its subcontractors shall conform to Ge �all �� � p .�� Accounting Principles (GAAP), enable the determination of incurred costs of -ri o' s of c pletion, and provide support for reimbursement payment vouchers or invoice 24. Audit Review Procedures. 24.1 Any dispute concerning a question of fact post audit of this Agreement that is not disposed of by agre Commission's Chief Financial Officer. under an interim or nt, s ` all be reviewed by 24.2 Not later than 30 days after issuance of the final audit report, Consultant may request a review by Commission's Chief Financial Officer of unresolved audit issues. The request for review shall be submitted in writing. 24.3 Neither the pendency of a dispute nor its consideration by Commission shall excuse Consultant from full and timely performance, in accordance with the terms of this Agreement. 25. Subcontracting. 25.1 Nothing contained in this Agreement or otherwise, shall create any contractual relation between Commission and any subconsultant(s), and no subcontract shall relieve Consultant of its responsibilities and obligations hereunder. Consultant agrees to be as fully responsible to Commission for the acts and omissions of its subconsultant(s) 625 and of persons either directly or indirectly employed by any of them as it is for the acts and omissions of persons directly employed by Consultant. Consultant's obligation to pay its subconsultant(s) is an independent obligation from Commission's obligation to make payments to the Consultant. 25.2 Consultant shall perform the Services contemplated with resources available within its own organization and no portion of the Services pertinent to this Agreement shall be subcontracted without written authorization by Commission's Contract Administrator, except that, which is expressly identified in the approved Cost Proposal. 25.3 Consultant shall pay its subconsultants within ten (10) calendar days from receipt of each payment made to Consultant by Commission. 25.4 Any subcontract in excess of $25,000 entered into as a result of this Agreement shall contain _- provisions stipulated in this Agreement to be applicable to subconsultants. 25.5 ny subst' ion of subconsultant(s) must be approved in writing by Commission's Cont . Ad .tr. for to the start of work by the subconsultant(s). 25.6 Exhibit " bill the Consultant for Servic to Consultant. Additional Direct Co the Consultant and all subconsult Task Order. The subconsultant rate accounting purposes only. 26. Equipment Purchase h the rates at which each subconsultant shall subject to reimbursement by the Commission , as defin - ► 'n Exhibit "B" shall be the same for both erwise identified in Exhibit "B" or in a cost proposals contained herein are for 26.1 Prior authorization, in writing, by Commissio ontract Administrator shall be required before Consultant enters into any unbu• a rchase order, or subcontract for supplies, equipment, or services. Consultan :11 provide an evaluation of the necessity or desirability of incurring such costs. 26.2 For purchase of any item, service or consulting work not covered in the Cost Proposal and exceeding $5,000 prior authorization, in writing, by Commission's Contract Administrator is required. Three competitive quotations must be submitted with the request for such purchase, or the absence of bidding must be adequately justified. 26.3 Any equipment purchased as a result of this Agreement is subject to the following: Consultant shall maintain an inventory of all nonexpendable property. Nonexpendable property is defined as having a useful life of at least two years and an acquisition cost of $5,000 or more. If the purchased equipment needs replacement and is sold or traded in, Commission shall receive a proper refund or credit at the conclusion of this Agreement, or if this Agreement is terminated, Consultant may either keep the equipment and credit Commission in an amount equal to its fair market value, or sell such equipment at the best price obtainable at a public or private sale, in accordance with established Commission procedures; and credit Commission in an amount equal to the 626 more than $25,000 for demolition, repair, or maintena Section. (c) When p Scope of Services, transportation minimum rates set by the Department of applicable Prevailing Wage Determination. S sales price. If Consultant elects to keep the equipment, fair market value shall be determined at Consultant's expense, on the basis of a competent independent appraisal of such equipment. Appraisals shall be obtained from an appraiser mutually agreeable to by Commission and Consultant. If Consultant determines to sell the equipment, the terms and conditions of such sale must be approved in advance by Commission. 2 CFR, Part 200 requires a credit to Federal funds when participating equipment with a fair market value greater than $5,000 is credited to the Project. 26.4 All subcontracts in excess $25,000 shall contain the above provisions. 27. Labor Code Requirements. 27.1 Prevailing Wages. (a) nsultant shall comply with the State of California's General Prevailing Wage Rate r 1r- -nts in accordance with California Labor Code, Section 1770, and all Federal .te, anW ocal laws and ordinances applicable to the Services. act entered into as a result of this Agreement, if for ction or more than $15,000 for the alteration, orks, shall contain all of the provisions of this apply to the Services described in the ce costs shall be reimbursed at the trial ' '--tions (DIR) as outlined in the +* r.ca.gov. (d) Copies of the prey g r- . of p commencement of this Agreement are on file at the Commission's make copies of the prevailing rates of per diem wages for eac of worker needed to execute the Services available to intere shall post copies at the Consultant's principal place of b Consultant shall defend, indemnify and hold the Commission, its elected officials, officers, employees and agents free and harmless from any claims, liabilities, costs, penalties or interest arising out of any failure or alleged failure to comply with the Prevailing Wage Laws. iem wages in effect at es. Consultant shall ssification or type parties upon request, and ess and at the project site. 27.2 DIR Registration. Since the Services are being performed as part of an applicable "public works" or "maintenance" project, then pursuant to Labor Code Sections 1725.5 and 1771.1, the Consultant and all subconsultants must be registered with the Department of Industrial Relations. Consultant shall maintain registration for the duration of the Project and require the same of any subconsultants. This Project may also be subject to compliance monitoring and enforcement by the Department of Industrial Relations. It shall be Consultant's sole responsibility to comply with all applicable registration and labor compliance requirements. 627 27.3 Eight -Hour Law. Pursuant to the provisions of the California Labor Code, eight hours of labor shall constitute a legal day's work, and the time of service of any worker employed on the work shall be limited and restricted to eight hours during any one calendar day, and forty hours in any one calendar week, except when payment for overtime is made at not less than one and one-half the basic rate for all hours worked in excess of eight hours per day ("Eight -Hour Law"), unless Consultant or the Services are not subject to the Eight -Hour Law. Consultant shall forfeit to Commission as a penalty, $50.00 for each worker employed in the execution of this Agreement by him, or by any sub -consultant under him, for each calendar day during which such workman is required or permitted to work more than eight hours in any calendar day and forty hours in any one calendar week without such compensation for overtime violation of the provisions of the California Labor Code, unless Consultant or the Services are not subject to the Eight -Hour Law. 27.4 Em employment of proper Code, and no em employees as ind ground of race, cree shall be paid the standa trade in which he or she is which he or she is registere nt of A•.rentices. This Agreement shall not prevent the ed apprentices in accordance with the California Labor or union shall refuse to accept otherwise qualified tic- on the work performed hereunder solely on the cestry, color or sex. Every qualified apprentice rentices under the regulations of the craft or hall be employed only in the craft or trade to If California Labor Code Sect 1 • - . ies to the Services, Consultant and any subcontractor hereunder who emplo any prenticeable craft or trade shall apply to the joint apprenticeship council admin -rin ble standards for a certificate approving Consultant or any sub -consultant f. e loym and training of apprentices. Upon issuance of this certificate, Consulta a ub-c ultant shall employ the number of apprentices provided for therein, as ell as c tribute " he fund to administer the apprenticeship program in each craft or trade in the area o •rk hereunder. The parties expressly understand that the resp; . bility for compliance with provisions of this Section and with Sections 1777.5, 177 and 1777.7 of the California Labor Code in regard to all apprenticeable occupations lies with Consultant 28. Ownership of Materials/Confidentiality. 28.1 Documents & Data. This Agreement creates an exclusive and perpetual license for Commission to copy, use, modify, reuse, or sub -license any and all copyrights and designs embodied in plans, specifications, studies, drawings, estimates, materials, data and other documents or works of authorship fixed in any tangible medium of expression, including but not limited to, physical drawings or data magnetically or otherwise recorded on computer diskettes, which are prepared or caused to be prepared by Consultant under this Agreement ("Documents & Data"). 628 Consultant shall require all subcontractors to agree in writing that Commission is granted an exclusive and perpetual license for any Documents & Data the subcontractor prepares under this Agreement. Consultant represents and warrants that Consultant has the legal right to grant the exclusive and perpetual license for all such Documents & Data. Consultant makes no such representation and warranty in regard to Documents & Data which were prepared by design professionals other than Consultant or provided to Consultant by the Commission. Commission shall not be limited in any way in its use of the Documents & Data at any time, provided that any such use not within the purposes intended by this Agreement shall be at Commission's sole risk. 28.2 Intellectual Property. In addition, Commission shall have and retain all right, title and interes ', ' clu•'`I • copyright, patent, trade secret and other proprietary rights) in all plans, s ification studies, drawings, estimates, materials, data, computer programs or softw nd sour :z co•. -.,enhancements, documents, and any and all works of authorship fixed i ��,- �;��' ib,�� m or expression, including but not limited to, physical drawings or other dat -_• neti =, ly or otherwise recorded on computer media ("Intellectual Property') pre•..; d o v I 'ped by or on behalf of Consultant under this Agreement as well as any other suc , - ectual Property prepared or developed by or on behalf of Consultant under this Ag ment The Commission al .'' and r in all right, title and interest in Intellectual Property developed or modified u -r thi ; • -ment whether or not paid for wholly or in part by Commission, whether or de •ed i •njunction with Consultant, and whether or not developed by Consultan . ns t wil ecute separate written assignments of any and all rights to the abo e referenced In . .-ctual Property upon request of Commission. Consultant shall also be responsibl=: `: obtain in writing separate written assignments from any subcontractors or agents of onsultant of any and all right to the above referenced Intellectual Property. Should Consultant, either during or following termination of this Agreement, desire to use any of the above -referenced Intellectual Property, it shall first obtain the written approval of the Commission. All materials and documents which were developed or prepared by the Consultant for general use prior to the execution of this Agreement and which are not the copyright of any other party or publicly available and any other computer applications, shall continue to be the property of the Consultant. However, unless otherwise identified and stated prior to execution of this Agreement, Consultant represents and warrants that it has the right to grant the exclusive and perpetual license for all such Intellectual Property as provided herein. Commission further is granted by Consultant a non-exclusive and perpetual license to copy, use, modify or sub -license any and all Intellectual Property 629 otherwise owned by Consultant which is the basis or foundation for any derivative, collective, insurrectional, or supplemental work created under this Agreement. 28.3 Confidentiality. All ideas, memoranda, specifications, plans, procedures, drawings, descriptions, computer program data, input record data, written information, and other Documents and Data either created by or provided to Consultant in connection with the performance of this Agreement shall be held confidential by Consultant. Such materials shall not, without the prior written consent of Commission, be used by Consultant for any purposes other than the performance of the Services. Nor shall such materials be disclosed to any person or entity not connected with the performance of the Services or the Project. Nothing furnished to Consultant which is otherwise known to Consultant or is generally known, or has become known, to the related industry shall be deemed confidential. Consultant shall not use Commission's name or insignia, photographs of t >- Project, or any publicity pertaining to the Services or the Project in any magazine -_ paper, newspaper, television or radio production or other similar medium witho a or • written consent of Commission. 28.4 hold the Commissio , free and harmless, purs alleged infringement of any other proprietary right of any Commission of the Documents & D specified or depicted. nification. Consultant shall defend, indemnify and Is, officers, employees, volunteers and agents fication provisions of this Agreement, for any t, trade secret, trade name, trademark, or any ity in consequence of the use on the Project by , includ method, process, product, or concept 29. Indemnification. To the fullest defend (with counsel of Commission's choosi and their directors, officials, officers, employ- +n ,!. nts, and harmless from any and all claims, demands, auses .' action, loss, damage or injury, in law or equity, to property or persons, i any manner arising out of or incident to alleged neglige misconduct of Consultant, its officials, officers, employ contractors arising out of or in connection with the perform ce of the Services, the Project or this Agreement, including without limitation the payment of consequential damages, expert witness fees, and attorneys fees and other related costs and expenses. Consultant shall defend, at Consultant's own cost, expense and risk, any and all such aforesaid suits, actions or other legal proceedings of every kind that may be brought or instituted against Commission, Caltrans and their directors, officials, officers, employees, consultants, agents, or volunteers. Consultant shall pay and satisfy any judgment, award or decree that may be rendered against Commission, Caltrans or their directors, officials, officers, employees, consultants, agents, or volunteers, in any such suit, action or other legal proceeding. Consultant shall reimburse Commission, Caltrans and their directors, officials, officers, employees, consultants, agents, and/or volunteers, for any and all legal expenses and costs, including reasonable attorney's fees, incurred by each of them in connection therewith or in enforcing the indemnity herein provided. Consultant's obligation to indemnify shall not be restricted to insurance proceeds, if any, received by Commission, Caltrans, their directors, officials officers, employees, consultants, agents, or volunteers. ted by law, Consultant shall hold Commission, Caltrans nteers, and agents free ts, expenses, liability, wrongful death, in ts, o issions, or willful agents, consultants, and 630 If Consultant's obligation to defend, indemnify, and/or hold harmless arises out of Consultant's performance as a "design professional" (as that term is defined under Civil Code section 2782.8), then, and only to the extent required by Civil Code section 2782.8, which is fully incorporated herein, Consultant's indemnification obligation shall be limited to claims that arise out of, pertain to, or relate to the negligence, recklessness, or willful misconduct of the Consultant, and, upon Consultant obtaining a final adjudication by a court of competent jurisdiction, Consultant's liability for such claim, including the cost to defend, shall not exceed the Consultant's proportionate percentage of fault. Consultant's obligations as set forth in this Section shall survive expiration or termination of this Agreement. 30. To the fullest extent permitted by law, Consultant shall defend, indemnify and hold Commission, Caltrans and their directors, officials, officers, employees, consultants, volunteers, and agents fr- ,d harmless from any and all claims, demands, causes of action, costs, expense bi loss, damage or injury, in law or equity, to property or persons, including gful de h, inverse condemnation, and any claims related to property acquisitio d reloca ru -s or failure to detect or abate hazardous materials, which are brought by ich , in any manner arise out of or are incident to alleged negligent acts, o ion- , r will ► isconduct of Consultant, its officials, officers, employees, agents, consultar a on ctors arising out of or in connection with the performance of the Services, e Pro his Agreement, including without limitation the payment of consequential damage expert s fees, and attorneys fees and other related costs and expenses. Cons n - • _ nd, at Consultant's own cost, expense and risk, any and all such aforesaid s► , a + or oth legal proceedings of every kind that may be brought or instituted against mis altrans, and their directors, officials, officers, employees, consultants, ag: ; s, lunt . Consultant shall pay and satisfy any judgment, award or decree that ma n d ag.' ^ st Commission, Caltrans or their directors, officials, officers, employees, onsulta s, age or volunteers, in any such suit, action or other legal proceeding. Consultant shal urse Commission, Caltrans and their directors, officials, officers, employees, sulta ts, agents, and/or volunteers, for any and all legal expenses and costs, inclu•' ;.'reasonable attorney's fees, incurred by each of them in connection therewith or in -nforcing the indemnity herein provided. Consultant's obligation to indemnify shall not be restricted to insurance proceeds, if any, received by Commission, Caltrans or their directors, officials officers, employees, consultants, agents, or volunteers. Notwithstanding the foregoing, to the extent Consultant's Services are subject to Civil Code Section 2782.8, the above indemnity shall be limited, to the extent required by Civil Code Section 2782.8, to claims that arise out of, pertain to, or relate to the negligence, recklessness, or willful misconduct of the Consultant. Consultant's obligations as set forth in this Section 29 shall survive expiration or termination of this Agreement. 631 31. Insurance. 31.1 Time for Compliance. Consultant shall not commence work under this Agreement until it has provided evidence satisfactory to the Commission that it has secured all insurance required under this Section, in a form and with insurance companies acceptable to the Commission. In addition, Consultant shall not allow any subcontractor to commence work on any subcontract until it has secured all insurance required under this Section. 31.2 Minimum Requirements. Consultant shall, at its expense, procure and maintain for the duration of the Agreement insurance against claims for injuries to persons or damages to property which may arise from or in connection with the performance of the Agreement by the Consultant, its agents, representatives, employees or subcontractors. Consultant shall also require all of its subcontractors to procure and maintain the same insurance for the duration the Agreement. Such insurance shall meet at least the following minimum lev_ •f -rage: broad as the latest ve Commercial General Lia Automobile Liability: Insuranc code 1 (any auto) or exact e`r ivale Liability: Workers' Compensation i Employer's Liability Insurance. cope of Insurance. Coverage shall be at least as : (1) General Liability: Insurance Services Office urrence form CG 0001 or exact equivalent); (2) ice Business Auto Coverage (form CA 0001, (3) Workers' Compensation and Employer's rance - •uired by the State of California and (b) Minimum Limits o .ura « . onsultant shall maintain limits no less than: (1) General Liability: $2,000,00 •er urr- - for bodily injury, personal injury and property damage. If Commercial ility rance or other form with general aggregate limit is used, either the gene aggre .te lim all apply separately to this Agreement/location or the general aggregate limit shal twice the required occurrence limit. Limits may be achieved by any combinatio- pn ry and excess or umbrella liability insurance; (2) Automobile Liability: $1,0 X00 per accident for bodily injury and property damage. Limits may be achieved by y combination of primary and excess or umbrella liability insurance; and (3) Workers' Compensation and Employer's Liability: Workers' Compensation limits as required by the Labor Code of the State of California. Employer's Practices Liability limits of $1,000,000 per accident. 31.3 Professional Liability. Consultant shall procure and maintain, and require its sub -consultants to procure and maintain, fora period of five (5) years following completion of the Project, errors and omissions liability insurance appropriate to their profession. For Consultant, such insurance shall be in an amount not less than $1,000,000 per claim. This insurance shall be endorsed to include contractual liability applicable to this Agreement and shall be written on a policy form coverage specifically designed to protect against acts, errors or omissions of the Consultant. "Covered Professional Services" as designated in the policy must specifically include work performed under this Agreement. The policy must "pay on behalf of" the insured and must include a provision establishing the insurer's duty to defend. Subconsultants of Consultant 632 shall obtain such insurance in an amount not less than $2,000,000 per claim. Notwithstanding the foregoing, the Commission may consider written requests to lower or dispense with the errors and omissions liability insurance requirement contained in this Section for certain subconsultants of Consultant, on a case -by -case basis, depending on the nature and scope of the Services to be provided by the subconsultant. Approval of such request shall be in writing, signed by the Commission's Contract Administrator. 31.4 Aircraft Liability Insurance. Prior to conducting any Services requiring use of aircraft, Consultant shall procure and maintain, or cause to be procured and maintained, aircraft liability insurance or equivalent form, with a single limit as shall be required by the Commission. Such insurance shall include coverage for owned, hired and non -owned aircraft and passengers, and shall name, or be endorsed to name, the Commission, Caltrans and their directors, officials, officers, employees and agents as additional insureds with respect to the Services or operations performed by or on behalf of the Consultant. 31.5 following provisio Commission to add (a) dorsements. The insurance policies shall contain the II provide endorsements on forms approved by the ns to the insurance policies: (i) C coverage for (1) bodily Injury and p (3) premises/operations liability; (4) limits that apply per Project; (6) explosion, deleted; (7) contractual liability with respect damage; and (9) independent consultants c eral Liability Insurance must include (2) personal Injury/advertising Injury; leted operations liability; (5) aggregate pse nderground (UCX) exclusion nt; (8) broad form property (ii) The policy shall contain no en limiting coverage for (1) contractual liability; (2) cross liability e one insured against another; or (3) contain any other exclus ments or provisions ion '1 r claims or suits by ontrary to this Agreement. (iii) The policy shall give the Commission, its directors, officials, officers, employees, and agents insured status using ISO endorsement forms 20 10 10 01 and 20 37 10 01, or endorsements providing the exact same coverage. (iv) The additional insured coverage under the policy shall be "primary and non-contributory" and will not seek contribution from the Commission's or Caltrans' insurance or self-insurance and shall be at least as broad as CG 20 01 04 13, or endorsements providing the exact same coverage. (b) Automobile Liability. The automobile liability policy shall be endorsed to state that: (1) the Commission, Caltrans and their directors, officials, officers, employees and agents shall be covered as additional insureds with respect to the ownership, operation, maintenance, use, loading or unloading of any auto owned, leased, hired or borrowed by the Consultant or for which the Consultant is responsible; and (2) the insurance coverage shall be primary insurance as respects the Commission, Caltrans and 633 their directors, officials, officers, employees and agents, or if excess, shall stand in an unbroken chain of coverage excess of the Consultant's scheduled underlying coverage. Any insurance or self-insurance maintained by the Commission, Caltrans and their directors, officials, officers, employees and agents shall be excess of the Consultant's insurance and shall not be called upon to contribute with it in any way. (c) Workers' Compensation and Employers Liability Coverage. (i) Consultant certifies that he/she is aware of the provisions of Section 3700 of the California Labor Code which requires every employer to be insured against liability for workers' compensation or to undertake self-insurance in accordance with the provisions of that code, and he/she will comply with such provisions before commencing work under this Agreement. against the Commissio paid under the term Consultant. The insurer shall agree to waive all rights of subrogation tors, officials, officers, employees and agents for losses ance policy which arise from work performed by the osts shall be payable in addition to the limits set forth hereunder. (ii) this Section are not intended as a limitation waiver of any coverage normally provided b under this Agreement that any available insu the specified minimum insurance coverage req be available to the Commission, Caltrans and their directors, offi and agents as additional insureds under said policies. Furthe coverage and limits shall be (1) the minimum coverag Agreement; or (2) the broader coverage and maximum li policy or proceeds available to the named insured; whichever is greater. f specific coverage or limits contained in its, or other requirement, or a It shall be a requirement ader than or in excess of its set forth herein shall officers, employees re, requirements for d limits specified in this of coverage of any insurance (iii) The limits of insurance required in this Agreement may be satisfied by a combination of primary and umbrella or excess insurance. Any umbrella or excess insurance shall contain or be endorsed to contain a provision that such coverage shall also apply on a primary and non-contributory basis for the benefit of the Commission (if agreed to in a written contract or agreement) before the Commission's own insurance or self-insurance shall be called upon to protect it as a named insured. The umbrella/excess policy shall be provided on a "following form" basis with coverage at least as broad as provided on the underlying policy(ies). (iv) Consultant shall provide the Commission at least thirty (30) days prior written notice of cancellation of any policy required by this Agreement, except that the Consultant shall provide at least ten (10) days prior written notice of cancellation of any such policy due to non-payment of premium. If any of the required 634 coverage is cancelled or expires during the term of this Agreement, the Consultant shall deliver renewal certificate(s) including the General Liability Additional Insured Endorsement to the Commission at least ten (10) days prior to the effective date of cancellation or expiration. (v) The retroactive date (if any) of each policy is to be no later than the effective date of this Agreement. Consultant shall maintain such coverage continuously for a period of at least three years after the completion of the work under this Agreement. Consultant shall purchase a one (1) year extended reporting period A) if the retroactive date is advanced past the effective date of this Agreement; B) if the policy is cancelled or not renewed; or C) if the policy is replaced by another claims -made policy with a retroactive date subsequent to the effective date of this Agreement. insurance coverage to be the Commission, is not i and obligations othe but not limited to, t (vi) The foregoing requirements as to the types and limits of ained by Consultant, and any approval of said insurance by and shall not in any manner limit or qualify the liabilities by the Consultant pursuant to this Agreement, including on -rning indemnification. me during the life of the Agreement, any policy of insurance required under th g -me ►oes not comply with these specifications or is canceled and not replaced, omm as the right but not the duty to obtain the insurance it deems necessary and y prem. - •aid by Commission will be promptly reimbursed by Consultant or Com io old amounts sufficient to pay premium from Consultant payments. In the a mmis on may cancel this Agreement. The Commission may require the Consultan •rov nplete copies of all insurance policies in effect for the duration of the Proje (viii) Neither the missi nor a °; .f its directors, officials, officers, employees or agents shall be personally responsible for ability arising under or by virtue of this Agreement. 31.6 Deductibles and Self -Insurance Ret-'^r "ions. Any deductibles or self - insured retentions must be declared to and approved by the Commission. If the Commission does not approve the deductibles or self -insured retentions as presented, Consultant shall guarantee that, at the option of the Commission, either: (1) the insurer shall reduce or eliminate such deductibles or self -insured retentions as respects the Commission, its directors, officials, officers, employees and agents; or, (2) the Consultant shall procure a bond guaranteeing payment of losses and related investigation costs, claims and administrative and defense expense. 31.7 Acceptability of Insurers. Insurance is to be placed with insurers with a current A.M. Best's rating no less than A:VIII, licensed to do business in California, and satisfactory to the Commission. 31.8 Verification of Coverage. Consultant shall furnish Commission with original certificates of insurance and endorsements effecting coverage required by this 635 Agreement on forms satisfactory to the Commission. The certificates and endorsements for each insurance policy shall be signed by a person authorized by that insurer to bind coverage on its behalf. All certificates and endorsements must be received and approved by the Commission before work commences. The Commission reserves the right to require complete, certified copies of all required insurance policies, at any time. 31.9 Subconsultant Insurance Requirements. Consultant shall not allow any subcontractors or subconsultants to commence work on any subcontract until they have provided evidence satisfactory to the Commission that they have secured all insurance required under this Section. Policies of commercial general liability insurance provided by such subcontractors or subconsultants shall be endorsed to name the Commission as an additional insured using ISO form CG 20 38 04 13 or an endorsement providing the exact same coverage. If requested by Consultant, the Commission may approve different scopes or minimum limits of insurance for particular subcontractors or subconsultants. 31.10 additional coverag reasonable and pru Project. In retaining th program to be adequate. Co to the insurance required in is Se nce. At its option, the Commission may require such e reduction of deductibles or retentions it considers factors that may directly or indirectly impact the on does not warrant Consultant's insurance ve the right to purchase insurance in addition 32. Safety. Consultant sh ex- - aintain its work so as to avoid injury or damage to any person or property. I ; ' t its S ices, the Consultant shall at all times be in compliance with all applicable al, and federal laws, rules and regulations, and shall exercise all necessar pre ion r the safety of employees appropriate to the nature of the work and t i un which the work is to be performed. Safety precautions as applicable s I inclu , but s not be limited to: (A) adequate life protection and life saving equipment and proce► • (B) instructions in accident prevention for all employees and subcontractor •uch s safe walkways, scaffolds, fall protection ladders, bridges, gang planks .nfined space procedures, trenching and shoring, equipment and other safety de ces, equipment and wearing apparel as are necessary or lawfully required to prevent accidents or injuries; and (C) adequate facilities for the proper inspection and maintenance of all safety measures. Pursuant to the authority contained in Section 591 of the Vehicle Code, the Commission has determined that the Project will contain areas that are open to public traffic. Consultant shall comply with all of the requirements set forth in Divisions 11, 12, 13, 14, and 15 of the Vehicle Code. Consultant shall take all reasonably necessary precautions for safe operation of its vehicles and the protection of the traveling public from injury and damage from such vehicles. 33. Additional Work. Any work or activities that are in addition to, or otherwise outside of, the Services to be performed pursuant to this Agreement shall only be performed pursuant to a separate agreement between the parties. Notwithstanding the foregoing, the Commission's Executive Director may make a change to the Agreement, 636 other than a Cardinal Change. For purposes of this Agreement, a Cardinal Change is a change which is "outside the scope" of the Agreement; in other words, work which should not be regarded as having been fairly and reasonably within the contemplation of the parties when the Agreement was entered into. An example of a change which is not a Cardinal Change would be where, in a contract to construct a building there are many changes in the materials used, but the size and layout of the building remains the same. Cardinal Changes are not within the authority of this provision to order, and shall be processed by the Commission as "sole source" procurements according to applicable law, including the requirements of FTA Circular 4220.1 D, paragraph 9(f). (a) In addition to the changes authorized above, a modification which is signed by Consultant and the Commission's Executive Director, other than a Cardinal Change, may be made in order to: (1) make a negotiated equitable adjustment to the Agreeme t price, delivery schedule and other terms resulting from the issuance of a Change Or 2) reflect definitive letter contracts, and (3) reflect other agreements of the pa ying the terms of this Agreement ("Bilateral Contract Modification"). change, without written a herein. In the event such Commission's Executive Dire tor, C 34. Prohibited Interests. ant shall not perform, nor be compensated for any Commission's Executive Director as set forth orization is not issued and signed by the ant shall not provide such change. 34.1 Solicitation. Consultan employed nor retained any company or pers solely for Consultant, to solicit or secure this it has not paid nor has it agreed to pay any co pany employee working solely for Consultant, any fee, commission, gift or other consideration contingent upon or resulting fro Agreement. For breach or violation of this warranty, the to rescind this Agreement without liability. 34.2 Consultant Conflict of Interest nd warrants that it has not ona fide employee working Consultant warrants that ther than a bona fide ge, brokerage fee, or making of this mission shall have the right (a) Consultant shall disclose any financial, business, or other relationship with Commission that may have an impact upon the outcome of this Agreement, or any ensuing Commission construction project. Consultant shall also list current clients who may have a financial interest in the outcome of this Agreement, or any ensuing Commission construction project, which will follow. (b) Consultant hereby certifies that it does not now have, nor shall it acquire any financial or business interest that would conflict with the performance of services under this Agreement. 637 (c) Any subcontract in excess of $25,000 entered into as a result of this Agreement, shall contain all of the provisions of this Article. (d) Consultant hereby certifies that neither Consultant, nor any firm affiliated with Consultant will bid on any construction contract, or on any contract to provide construction inspection for any construction project resulting from this contract. An affiliated firm is one, which is subject to the control of the same persons through joint -ownership, or otherwise. (e) Except for subconsultants whose services are limited to providing surveying or materials testing information, no subconsultant who has provided design services in connection with this contract shall be eligible to bid on any construction contract, or on any contract to provide construction inspection for any construction project resulting from this contract. 34.3 C Conflict of Interest. For the term of this Agreement, no member, officer or e : oyee of e Commission, during the term of his or her service with the Commission, s have a :ire► 'nterest in this Agreement, or obtain any present or anticipated material • : • - ' .- in• a rom. 34.4 Conflict m 4 m ;; . Employment by the Consultant of personnel currently on the payroll of the omm •hall not be permitted in the performance of this Agreement, even though such em ment cur outside of the employee's regular working hours or on weekends, hol : y - a n time. Further, the employment by the Consultant of personnel who have be .n - r >mmis ' n payroll within one year prior to the date of execution of this Agreement, w e thi oyment is caused by and or dependent upon the Consultant securing this rel Agr ents with the Commission, is prohibited. 34.5 Covenant Against Contingent Fees. As federal funding, the Consultant warrants that he/she has n company or person, other than a bona fide employee wor or secure this Agreement, and that he/she has not paid o •greed to pay any company or person, other than a bona fide employee, any fee, commission, percentage, brokerage fee, gift, or any other consideration, contingent upon or resulting from the award or formation of this Agreement. For breach or violation of this warranty, the Commission shall have the right to terminate this Agreement without liability pursuant to the terms herein, or at its discretion to deduct from the Agreement price or consideration, or otherwise recover, the full amount of such fee, commission, percentage, brokerage fee, gift, or contingent fee. in connection with plo `-d or retained any for the Consultant, to solicit 34.6 Rebates, Kickbacks or Other Unlawful Consideration. Consultant warrants that this Agreement was not obtained or secured through rebates kickbacks or other unlawful consideration, either promised or paid to any Commission employee. For breach or violation of this warranty, Commission shall have the right in its discretion; to terminate this Agreement without liability; to pay only for the value of the work actually 638 performed; or to deduct from the Agreement price; or otherwise recover the full amount of such rebate, kickback or other unlawful consideration. 34.7 Covenant Against Expenditure of Commission, State or Federal Funds for Lobbying. The Consultant certifies that to the best of his/ her knowledge and belief no state, federal or local agency appropriated funds have been paid, or will be paid by or on behalf of the Consultant to any person for the purpose of influencing or attempting to influence an officer or employee of any state or federal agency; a Member of the State Legislature or United States Congress; an officer or employee of the Legislature or Congress; or any employee of a Member of the Legislature or Congress, in connection with the award of any state or federal contract, grant, loan, or cooperative agreement, or the extension, continuation, renewal, amendment, or modification of any state or federal contract, grant, loan, or cooperative agreement. (a) paid, or will be paid to a an officer or emplo employee of Congr Agreement, the Cons Form-LLL, "Disclosure instructions. y funds other than federal appropriated funds have been for the purpose of influencing or attempting to influence deral agency; a Member of Congress; an officer or loy of a Member of Congress; in connection with this and submit the attached Exhibit "G", Standard obbying," in accordance with the attached (b) The Co Itant's material representation of fact upo entered into, and is a prerequisite f 1352, Title 31, US. Code. Failure to comply disclosure and certification requirements set f result in a civil penalty of not less than $10,0 failure. cation provided in this Section is a was placed when this Agreement was to thi Agreement pursuant to Section the tions on expenditures, or the 52, Title 31, US. Code may $100,000 for each such (c) The Consultant also agrees by he/she shall require that the language set forth in this Se Consultant subcontracts which exceed $100,000, and th certify and disclose accordingly. ng s Agreement that n 3.23.5 be included in all all such subcontractors shall 34.8 Employment Adverse to the Commission. Consultant shall notify the Commission, and shall obtain the Commission's written consent, prior to accepting work to assist with or participate in a third -party lawsuit or other legal or administrative proceeding against the Commission during the term of this Agreement. 35. Equal Opportunity Employment. Consultant represents that it is an equal opportunity employer and it shall not discriminate against any subcontractor, employee or applicant for employment because of race, religion, color, national origin, ancestry, sex or age. Such non-discrimination shall include, but not be limited to, all activities related to initial employment, upgrading, demotion, transfer, recruitment or recruitment advertising, layoff or termination. 639 36. Right to Employ Other Consultants. Commission reserves the right to employ other consultants in connection with the Project. 37. Governing Law. This Agreement shall be governed by and construed with the laws of the State of California. Venue shall be in Riverside County. 38. Disputes; Attorneys' Fees. 38.1 Prior to commencing any action hereunder, the Parties shall attempt in good faith to resolve any dispute arising between them. The pendency of a dispute shall not excuse Consultant from full and timely performance of the Services. 38.2. If the Parties are unable to resolve a dispute after attempting in good faith to do so, the Parties either Party commence otherwise, arising out litigation shall be ert fees and, all other co 39. Time of Essence Agreement. seek any other available remedy to resolve the dispute. If n against the other Party, either legal, administrative or ection with this Agreement, the prevailing Party in such nd ecover from the losing Party reasonable attorneys' essence for each and every provision of this 40. Headings. Article any •ecti• ings, paragraph captions or marginal headings contained in this Agreeme co enience only and shall have no effect in the construction or interpretation of any pro here 41. Notices. All notices permitted given to the respective parties at the following respective parties may provide in writing for this purpose: CONSULTANT: Stantec Consulting Services, Inc. 523 West 6th Street Suite 1200 Los Angeles, CA 90014 Attn: Gilberto Ruiz this Agreement shall be h other address as the C ISSION: Riverside County Transportation Commission 4080 Lemon Street, 3rd Floor Riverside, CA 92501 Attn: Executive Director Such notice shall be deemed made when personally delivered or when mailed, forty-eight (48) hours after deposit in the U.S. mail, first class postage prepaid, and addressed to the Party at its applicable address. Actual notice shall be deemed adequate notice on the date actual notice occurred, regardless of the method of service. 42. Conflicting Provisions. In the event that provisions of any attached exhibits conflict in any way with the provisions set forth in this Agreement, the language, terms and conditions contained in this Agreement shall control the actions and obligations of the 640 Parties and the interpretation of the Parties' understanding concerning the performance of the Services. 43. Amendment or Modification. No supplement, modification, or amendment of this Agreement shall be binding unless executed in writing and signed by both Parties. 44. Entire Agreement. This Agreement contains the entire agreement of the Parties relating to the subject matter hereof and supersedes all prior negotiations, agreements or understandings. 45. Invalidity; Severability. If any portion of this Agreement is declared invalid, illegal, or otherwise unenforceable by a court of competent jurisdiction, the remaining provisions shall continue in full force and effect. 46. Provisions A• .; cable When State Funds or Federal Funds Are Involved. When funding for the S c- nder a Task Order is provided by this Agreement are provided, in whole o part, °``,.m the United States Department of Transportation, Consultant shall al - Ily and - qu.tely comply with the provisions included in Exhibit "C" (Federal Depart on of s• on Requirements and California Department of Transportation (Caltran = = p c;' am •uirements) attached hereto and incorporated herein by reference. When f i x .or th Services under a Task Order is provided, in whole or in part, from the FT ons •hall also fully and adequately comply with the provisions included in Exhibit "F" (F Requires ts) attached hereto and incorporated herein by reference 47. Survival. All rights and oblig continue after any expiration or termination of the indemnification and confidentiality oblig termination. er that by their nature are to including, but not limited to, any such expiration or 48. No Third Party Beneficiaries. There are no inten of any right or obligation assumed by the Parties. arty beneficiaries 49. Labor Certification. By its signature hereunder, Consultant certifies that it is aware of the provisions of Section 3700 of the California Labor Code which require every employer to be insured against liability for Workers' Compensation or to undertake self- insurance in accordance with the provisions of that Code, and agrees to comply with such provisions before commencing the performance of the Services. 50. Counterparts. This Agreement may be signed in counterparts, each of which shall constitute an original. 51. Attorney Client Privilege. The Parties recognize that, during the Project, the Commission and its attorneys will engage in communication that gives rise to an attorney client privilege of confidentiality ("Confidential Communication"). Given the nature of the work done by Consultant for the Commission, it may be necessary for the Consultant to participate in Confidential Communications. To the extent that (i) the Consultant is a party to any Confidential Communication, and (ii) a third party seeks discovery of such 641 communications, then the Consultant shall be deemed to be an agent of the Commission solely for purposes of preserving any attorney client privilege in the relevant Confidential Communication. Any such attorney client privilege shall be held by the Commission and the Consultant is not authorized to waive that privilege or, otherwise, disclose such Confidential Communication except as set forth below. This Section is intended to maintain the privilege in any privileged Confidential Communications that are (1) between and among Commission, Consultant, and Commission's attorneys; (2) between Consultant (on behalf of the Commission) and Commission's attorneys; (3) Confidential Communications that occur in Closed Session meetings wherein the Commission, the Commission's attorneys and Consultant are present; and (4) between Commission and Consultant wherein the substance of the Confidential Communication is conveyed to/from the Consultant. Consultant ma disclose a Confidential Communication to the extent such disclosure is required by I= 'rocess, by a court of competent jurisdiction or by any other governmental authority .vi.. that any such disclosure shall be limited to the specific part of the Confide► Com 'cation required to be disclosed and provided that Consultant first co 1 with t e• ' ements set forth in this paragraph. As soon as practicable after Cons• - • . -re that it is required, or may become required, to disclose the Confidentia om - ratio for such reason, Consultant shall notify the Commission in writing, in ord- - . al • he •mmission to pursue legal remedies designed to limit the Confidential Co muni required to be disclosed or to assure the confidential treatment of the disclos_ nform. Ilowing its disclosure. Consultant shall cooperate with the Commission, o a ale basis, to assist the Commission in limiting the scope of disclosure or a .•rin► confid�tial treatment of any disclosed information. 52. Subpoenas or Court Orders. Sh• or tant r order related to this Agreement, the Services or he Proj ct, Con provide written notice of the subpoena or court order to the Co not respond to any such subpoena or court order until notice t as required herein, and shall cooperate with the Co subpoena or court order. ive a subpoena or court ant shall immediately ����s��,,� . Consultant shall e Commission is provided sion in responding to the 53. Assignment or Transfer. Consultant shall not assign, hypothecate, or transfer, either directly or by operation of law, this Agreement or any interest herein, without the prior written consent of the Commission. Any attempt to do so shall be null and void, and any assignees, hypothecates or transferees shall acquire no right or interest by reason of such attempted assignment, hypothecation or transfer. 54. Successors and Assigns. This Agreement shall be binding on the successors and assigns of the parties, and shall not be assigned by Consultant without the prior written consent of Commission. 55. Incorporation of Recitals. The recitals set forth above are true and correct and are incorporated into this Agreement as though fully set forth herein. 642 56. No Waiver. Failure of Commission to insist on any one occasion upon strict compliance with any of the terms, covenants or conditions hereof shall not be deemed a waiver of such term, covenant or condition, nor shall any waiver or relinquishment of any rights or powers hereunder at any one time or more times be deemed a waiver or relinquishment of such other right or power at any other time or times. [Signatures on following page] 643 SIGNATURE PAGE TO PROFESSIONAL SERVICES AGREEMENT WITH PROPOSITION 1B, FTA AND FHWA FUNDING ASSISTANCE FOR ENVIRONMENTAL CONSULTING SERVICES IN WITNESS WHEREOF, this Agreement was executed on the date first written above. RIVERSIDE COUNTY TRANSPORTATION COM SSION By: Anne Mayer Approved as to Form: By: Best, Best & Krieger LLP General Counsel CONSULTANT STANTEC CONSULTING SERVICES, INC. By: Signature /Name Al\ 401)N°- ATTEST: By: Its: * A corporation requires the signatures of two corporate officers. One signature shall be that of the chairman of board, the president or any vice president and the second signature (on the attest line) shall be that of the secretary, any assistant secretary, the chief financial officer or any assistant treasurer of such corporation. If the above persons are not the intended signators, evidence of signature authority shall be provided to RCTC. 644 EXHIBIT "A" - SCOPE OF SERVICES ON -CALL ENVIRONMENTAL CONSULTING SERVICES 1.0 DESCRIPTION OF WORK 1.1 Consultant Responsibilities shall include, but will not be limited to the following: 1.1.1 Review and evaluate project -specific environmental documents to assess current compliance/validity under California Environmental Quality Act (CEQA) and National Environm-, Policy Act (NEPA) due to changes in project design, environmental requir ; °ent 1, >. elapsed time, etc. Prepare appropriate written documentation • s ;;i•lemental materials (e.g., environmental revalidation/reeva ► on, CE Q . d • - q dum, update technical reports and studies, etc.) to support the assess 1.1.2 Revie d • ide ritten input on project -specific environmental documents, technical report , and as requested by Commission staff (e.g., air quality, water quality, noise, cultur. esourc- eontology, biology, MSHCP studies, and Sections 4[f] and 6[f]). 1.1.3 Permitting servic-s inc 'T • prep tion of permit packages(s) and submittal to permitting agency(ies); coord :tion rmitting agency(ies); and shepherding permits(s) through their respe a val p ess(es). 1.1.4 Implementing, monitoring, and dbcumen . the progress and success of environmental commitments during construction a .o onstruction (e.g., environmentally sensitive area [ESA] fencing, permit con' .ns, habitat restoration, revegetation, special environmental provisions, etc.). 1.1.5 Support of project compliance with Western Riverside County Multispecies Habitat Conservation Plan (MSHCP) including preparation of documentation needed to support consistency determination process. 1.1.6 Coordination with regulatory and resources agencies as needed, on specific issues. 1.1.7 Other environmental services as requested by Commission staff. 1.1.8 In addition to meeting with and coordinating efforts with Commission staff, Consultant may also be required to interact with Commission legal counsel, other consultants, Caltrans, Federal Transit Administration, Federal Highway Administration, et al. 17336.00603\31171937.1 Exhibit A 645 1.1.9 If any legal issues exist during the course of work authorized under this scope of work, Consultant shall inform Commission. All legal opinions shall be rendered by Commission's legal counsel. 1.1.10 If hazardous materials or wastes are discovered during the course of work authorized under this scope of work, Consultant shall inform Commission and seek further direction from the Commission. 1.2 Materials to be Furnished by Commission 1.2.1 All software, data, reports, surveys, drawings, and other documents furnished to the Offeror by Commission for the Offeror's use in the performance of services shall be made available only for use in performing the assignment and shall remain the property of Commission. All such materials shall be returned to Commission upon completion of sery termination of the agreement, or other such time as Commission may dete 1.3 Pers 1.3.1 determined by the scope of th tasks to be performed. All approval by Commission. 1.4 Third Party Relations ions and Responsibilities ifications of personnel to be assigned will be quest and the degree of difficulty of required personnel assignments shall be subject to 1.4.1 This Contract is intend prov' -call environmental services for Commission projects. In the developmen f th om ion projects, Commission has worked closely with various professio 1 , ag ies, and others in the development of the project documents and oth rojec late •` -- -terials. Commission, however, is solely responsible for and will be the sole point of c'l_1ii s':> for all contractual matters related to the Task Orders. Offeror shall take direction fro ' Commission and shall regularly inform only Commission of Task Order pro• , outstanding issues, and all related matters. 1.4.2 During the course of the contract, Offeror may find occasion to meet with resource agencies, local jurisdictions, or Caltrans representatives, the design engineer, or other third parties who have assisted with the various Plan projects. These entities may, from time to time, offer suggestions and/or recommendations regarding the Commission project or elements of the project. While the Commission enjoys a close relationship with and has considerable confidence in the capabilities of these other parties, Offeror shall not act on any suggestions, solicited or unsolicited, without obtaining specific direction from Commission. All oral and written communication with outside agencies or Offerors related to the project shall be directed only to Commission. Distribution of project related communications and information shall be at the sole discretion of Commission representatives. 2.0 TASK ORDER PROCEDURES 17336.00603\31171937.1 Exhibit A 646 2.1 Definitions 2.1.1 The term Consultant shall refer to the firm or firms that are awarded the contract for environmental consulting services. 2.1.2 A Task Order is utilized by the parties to establish, outline, and authorize a particular job or task. 2.2 Initiating Task Orders 2.2.1 The Commission's project manager will issue Task Orders to the Consultant. 2.2.2 The C for a Task Order Propo shall develop a plan Task Order shall classification(s) to 2.3 Review an mission's request for task order submittals. Upon a request e designated Commission project manager, contractor a task order proposal for the requested services. The me schedule, number of labor hours, and labor d services. 2.3.1 The Commission's designated project manager will review the submitted Task Order (TO) to ensure that the submittal is complete, consistent with the Commission's written or oral request for services, the personnel assigned are acceptable, the schedule is acceptable, that all costs proposed are appropriate, and that the item is in compliance with contractual requirements. The project manager will award the Task Order if it is determined to be fair and reasonable. If required, the Commission's project manager will conduct negotiations to address exceptions a clarify costs. The fully executed Task Order will serve as the record of negotiations. 2.4 Completion Schedule 2.4.1 The contractors' performance of se ices shall commence under each Task Order only upon written authorization by the Commission's designated project manager. 2.4.2 Contractor shall complete the services within the time frame specified on a particular Task Order. 17336.00603\31171937.1 Exhibit A 647 EXHIBIT "B"- COMPENSATION AND PAYMENT Exhibit B-1 17336.00603\31171937.1 648 EXHIBIT "B" COMPENSATION SUMMARY' FIRM PROJECT TASKS/ROLE COST Prime Consultant: Stantec Consulting Services On -Call Environmental Consulting Services $ 3,000,000.00 Sub Consultants: ECORP Threatened and Endangered Species Surveys, Wetlands and Waters Delineations, and habitat restoration services and monitoring TBD Environmental Review Partners Air Quality, Greenhouse Gases, noise and vibration TBD Hernandez Environmental Services Threatened and Endangered Species Surveys, wetlands and Waters Delineations, and Western Riverside and Coachella Valley Multiple Species Habitat Conservation Plan Support TBD Leatherman BioConsulting, Inc. Threatened and Endangered Species Surveys, Wetlands and Waters Delineations TBD Pacific Restoration Group, Inc. Habitat Restoration and monitoring TBD Pax Environmental Threatened and Endangered Species Surveys TBD TBD -41111111, TBD TBD TBD TOTAL COSTS $ 3,000,000.00 1 Commission authorization pertains to total contract award amount. pen however, the maximum total compensation authorized may not be exce de on adjustments between consultants may occur; 649 EXHIBIT "C" FHWA/ CALTRANS REQUIREMENTS 1. STATEMENT OF COMPLIANCE. A. Consultant's signature affixed herein shall constitute a certification under penalty of perjury under the laws of the State of California that CONSULTANT has, unless exempt, complied with, the nondiscrimination program requirements of Government Code Section 12990 and Title 2, California Administrative Code, Section 8103. B. During the performance of this Agreement, Consultant and its subconsultants shall not unlawfully discriminate, har- s, or allow harassment against any employee or applicant for employment because of s- e, color, ancestry, religious creed, national origin, physical disability (including HIV d AI ► , mental disability, medical condition (e.g., cancer), age (over 40), marital st al of family care leave. Consultant and subconsultants shall insure that t valuati• an• eatment of their employees and applicants for employment are fre- • - u : imination and harassment. Consultant and subconsultants shall comp y wi - pro ons of the Fair Employment and Housing Act (Gov. Code §12990 (a -f) et s- . an; .e plicable regulations promulgated there under (California Code of Regulations, Titl: ', -ction 7285 et seq.). The applicable regulations of the Fair Employment and Housin•, ommi plementing Government Code Section 12990 (a -f), set forth in Chapter o io of Title 2 of the California Code of Regulations, are incorporated into this - gre- by re -nce and made a part hereof as if set forth in full. Consultant and its subco Ita s give written notice of their obligations under this clause to labor organ ati► ith ch they have a collective bargaining or other Agreement. C. If this Agreement is federally funded, the Consultant she o Iy with regulations relative to Title VI (nondiscrimination in federally -assisted pr o the Department of Transportation — Title 49 Code of Federal Regulations, P 1 - Effectuation of Title VI of the 1964 Civil Rights Act). Title VI provides that the recipients of federal assistance will implement and maintain a policy of nondiscrimination in which no person in the state of California shall, on the basis of race, color, national origin, religion, sex, age, disability, be excluded from participation in, denied the benefits of or subject to discrimination under any program or activity by the recipients of federal assistance or their assignees and successors in interest. D. If this Agreement is federally funded, the Consultant, with regard to the work performed by it during the Agreement shall act in accordance with Title VI. Specifically, the Consultant shall not discriminate on the basis of race, color, national origin, religion, sex, age, or disability in the selection and retention of Subconsultants, including procurement of materials and leases of equipment. The Consultant shall not participate either directly or indirectly in the discrimination prohibited by Section 21.5 of the U.S. DOT's Regulations, Exhibit C-1 17336.00603\31171937.1 650 including employment practices when the Agreement covers a program whose goal is employment. 2. DEBARMENT AND SUSPENSION CERTIFICATION CONSULTANT's signature affixed herein, shall constitute a certification under penalty of perjury under the laws of the State of California, that CONSULTANT has complied with Title 2 CFR, Part 180, "OMB Guidelines to Agencies on Government wide Debarment and Suspension (nonprocurement)", which certifies that he/she or any person associated therewith in the capacity of owner, partner, director, officer, or manager, is not currently under suspension, debarment, voluntary exclusion, or determination of ineligibility by any federal agency; has not been suspended, debarred, voluntarily excluded, or determined ineligible by any federal agency within the past three (3) years; does not have a proposed debarment pending; and has not been indicted, convicted, or had a civil judgment rendered against it by a court of competent jurisdiction in any matter involving fraud or official misconduct within the past three (3) years. Any exceptions to this certification must be disclosed to COMMISSION. B. Exceptions will not necessarily result in denial of recommendation for award, but will be considered in determining CONSULTANT responsibility. Disclosures must indicate to whom exceptions apply, initiating agency, and dates of action. C. Exceptions to the Federal Government Ex Iuded Parties List System maintained by the General Services Administration are e letermined by the Federal highway Administration. 3. DISCRIMINATION The Commission shall not discriminate on the basis of race, color, national origin, or sex in the award and performance of any DOT -assisted contract or in the implementation of the Caltrans DBE program or the requirements of 49 CFR Part 26. The Commission shall take all necessary and reasonable steps under 49 CFR Part 26 to ensure nondiscrimination in the award and administration of DOT -assisted contracts. Consultant or subcontractor shall not discriminate on the basis of race, color, national origin, of sex in the performance of this Agreement. Consultant or subcontractor shall carry out applicable requirements of 49 CFR Part 26 and the Caltrans DBE program in the award and administration of DOT -assisted contracts, as further set forth below. Failure by the Consultant or subcontractor to carry out these requirements is a material breach of this Agreement, which may result in the termination of this Agreement or such other remedy, as the Commission deems appropriate. 4. PROMPT PAYMENT Consultant agrees to pay each subcontractor under this prime contract for satisfactory performance of its contract no later than 10 days from the receipt of each payment the Exhibit C-2 17336.00603\31171937.1 651 prime contractor receives from the Commission. Any delay or postponement of payment from the above referenced time frame may occur only for good cause following written approval of the Commission. This clause applies to both DBE and non -DBE subcontractors. 5. RELEASE OF RETAINAGE No retainage will be withheld by the Agency from progress payments due the prime consultant. Retainage by the prime consultant or subconsultants is prohibited, and no retainage will be held by the prime consultant from progress due subconsultants. Any violation of this provision shall subject the violating prime consultant or subconsultants to the penalties, sanctions, and other remedies specified in Section 7108.5 of the California Business and Professions Code. This requirement shall not be construed to limit or impair any contractual, administra ,'ve, or judicial remedies, otherwise available to the prime consultant or subconsulta e event of a dispute involving late payment or nonpayment by the prime consults de k nt subconsultant performance, or noncompliance by a subconsultant. This lies to both DBE and non -DBE prime consultants and subconsultants. 6. LEGAL REMEDI In addition to those contract remedie either Party to this Agreement may, this Agreement pursuant to the rel relevant federal or state statutory pro, sio relevant federal and state provisions governin well as any and all other applicable federal orth under relevant provisions of California law, here a . - le, seek legal redress for violations of s of 49 C.F.R. Parts 23 and 26, to the ernin ivil rights violations, and to the r "whistleblower" actions, as s of law. The Consultant shall include a provision to this effect in each o subcontractors. 7. DBE PARTICIPATION agreements with its Caltrans has developed a statewide DBE program pursuant to 49 C.F.R. Part 26. The requirements and procedures, as applicable, of the Caltrans DBE program are hereby incorporated by reference into this Agreement. Even if no DBE participation will be reported, Consultant shall complete Exhibits "D" of this Agreement in compliance with the Caltrans DBE program, a final utilization report in the form provided by the Commission, and any other Caltrans required DBE forms. A. This Agreement is subject to Title 49, Part 26 of the Code of Federal Regulations entitled "Participation by Disadvantaged Business Enterprises in Department of Transportation Financial Assistance Programs." By obtaining DBE participation on this Agreement, Consultant will assist Caltrans in meeting its federally mandated statewide overall DBE goal. Exhibit C-3 17336.00603\31171937.1 652 B. This Agreement has established a 17% DBE goal. If a DBE subconsultant is unable to perform, the Consultant must make a good faith effort to replace him/her with another DBE subconsultant, if the goal is not otherwise met. A DBE is a firm meeting the definition of a DBE as specified in 49 CFR. C. DBE and other small businesses (SB), as defined in Title 49 CFR, Part 26 are encouraged to participate in the performance of agreements financed in whole or in part with federal funds. The Consultant, subrecipient or subconsultant shall not discriminate on the basis of race, color, national origin, or sex in the performance of this Agreement. The Consultant shall carry out applicable requirements of 49 CFR, Part 26 in the award and administration of US DOT- assisted agreements. Failure by the contractor to carry out these requirements is a material breach of this Agreement, which may result in the termination of this Agreement or such other remedy as the Commission, Caltrans or the Department of Transportati deems appropriate. D. Any subcontrac to as a result of this Agreement shall contain all of the provisions of this se E. A DBE may be terminated only with prior written approval from the Commission and only for the reasons specified in 49 CFR 26.53(f). Prior to requesting Commission consent for the termination, the prime consultant must meet the procedural requirements specified in 49 CFR 26.53(f). 8. DBE PARTICIPATION GENERAL INFORMATION It is Consultant's responsibility to be fully informed regarding the requirements of 49 CFR, Part 26, and the Caltrans DBE program. Particular attention is directed to the following: A. A DBE must be a small business firm defined pursuant to 13 CFR 121 and be certified through the California Unified Certification Program (CUCP). B. A certified DBE may participate as a prime contractor, subcontractor, joint venture partner, as a vendor of material or supplies, or as a trucking company. C. A DBE joint -venture partner must be responsible for specific contract items of work or clearly defined portions thereof. Responsibility means actually performing, managing and supervising the work with its own forces. The DBE joint venture partner must share in the capital contribution, control, management, risks and profits of the joint -venture commensurate with its ownership interest. D. A DBE must perform a commercially useful function, pursuant to 49 CFR 26.55 that is, must be responsible for the execution of a distinct element of the work and must carry out its responsibility by actually performing, managing and supervising the work, as more fully described in section 8 below. Exhibit C-4 17336.00603\31171937.1 653 E. The Consultant shall list only one subcontractor for each portion of work as defined in the Consultant's bid/proposal and all DBE subcontractors should be listed in the Consultant's bid/cost proposal list of subcontractors. F. A Consultant who is a certified DBE is eligible to claim all of the work in the Agreement toward the DBE participation except that portion of the work to be performed by non -DBE subcontractors. 9 . COMMERCIALLY USEFUL FUNCTION A. A DBE performs a commercially useful function when it is responsible for execution of the work of the Agreement and is carrying out its responsibilities by actually performing, managing, and supervising the work involved. To perform a commercially useful function, the DBE must also be resp.•nsible with respect to materials and supplies used on the Agreement, for negotiati and installing (where a DBE is performin subcontracted, ind Agreement is comme factors. , determining quality and quantity, ordering the material, nd paying for the material itself. To determine whether a ally useful function, evaluate the amount of work ther the amount the firm is to be paid under the rk it is actually performing, and other relevant B. A DBE does not perform a co an extra participant in a transaction in order to obtain the appearance such an extra participant, examine sim not participate. ially useful function if its role is limited to that of roject through which funds are passed tion. In determining whether a DBE is ons, ticularly those in which DBEs do C. If a DBE does not perform or exercise nsi for total cost of its Agreement with its own work force, or e DB portion of the work of the Agreement than would be expect industry practice for the type of work involved, it will be presu commercially useful function. ast thirty percent of the contracts a greater e basis of normal is not performing a 10. DBE CERTIFICATION AND DE -CERTIFICATION STATUS If a DBE subcontractor is decertified during the life of the Agreement, the decertified subcontractor shall notify the Contractor in writing with the date of de -certification. If a subcontractor becomes a certified DBE during the life of the Agreement, the subcontractor shall notify the Contractor in writing with the date of certification. Any changes should be reported to the Commission's Contract Administrator within 30 days. 11. DBE RECORDS A. The Contractor shall maintain records of materials purchased and/or supplied from all subcontracts entered into with certified DBEs. The records shall show the name and business address of each DBE or vendor and the total dollar amount actually paid each Exhibit C-5 17336.00603\31171937.1 654 DBE or vendor, regardless of tier. The records shall show the date of payment and the total dollar figure paid to all firms. DBE prime Contractors shall also show the date of work performed by their own forces along with the corresponding dollar value of the work. B. Upon completion of the Agreement, a summary of these records shall be prepared and submitted on the most current version of the form entitled, "Final Report -Utilization of Disadvantaged Business Enterprises (DBE)," CEM- 2402F (Exhibit 17-F in Chapter 17 of the LAPM), certified correct by the Contractor or the Contractor's authorized representative and shall be furnished to the Commission's Contract Administrator with the final invoice. Failure to provide the summary of DBE payments with the final invoice will result in twenty- five percent (25%) of the dollar value of the invoice being withheld from payment until the form is submitted. The amount will be returned to the Contractor when a satisfactory "Final Report Utilization of Disadvantaged Business Enterprises (DBE)" is submitted to the Commission's Contract Ad .nistrator. a. Prior to the fiftee Commission's Co companies. The Commission's Contra to all firms, including owner -op from a non -DBE, the Contrac a result of the lease arrangement. b. The Contractor shall also documentation showing the truck nu •er, number, and if applicable, the DBE certificati used during that month. This documentation DBE Trucking Verification," CEM-2404(F) Commission's Contract Administrator. month, the Contractor shall submit documentation to the trator showing the amount paid to DBE trucking all so obtain and submit documentation to the ing the amount paid by DBE trucking companies e leasing of trucks. If the DBE leases trucks ly the fee or commission the DBE receives as Commission's Contract Administrator of ow- ° , California Highway Patrol CA he truck owner for all trucks on the Caltrans "Monthly he Contractor by the 12. REPORTING MATERIAL OR SUPPLIES PURCHA DBEs When Reporting DBE Participation, Material or Supplies phased from DBEs may count as follows: A. If the materials or supplies are obtained from a DBE manufacturer, 100 % of the cost of the materials or supplies will count toward the DBE participation. A DBE manufacturer is a firm that operates or maintains a factory or establishment that produces on the premises, the materials, supplies, articles, or equipment required under the Agreement and of the general character described by the specifications. B. If the materials or supplies purchased from a DBE regular dealer, count 60 % of the cost of the materials or supplies toward DBE goals. A DBE regular dealer is a firm that owns, operates or maintains a store, warehouse, or other establishment in which the materials, supplies, articles or equipment of the general character described by the specifications and required under the Agreement, are bought, kept in stock, and regularly Exhibit C-6 17336.00603\31171937.1 655 sold or leased to the public in the usual course of business. To be a DBE regular dealer, the firm must be an established, regular business that engages, as its principal business and under its own name, in the purchase and sale or lease of the products in question. A person may be a DBE regular dealer in such bulk items as petroleum products, steel, cement, gravel, stone or asphalt without owning, operating or maintaining a place of business provided in this section. C. If the person both owns and operates distribution equipment for the products, any supplementing of regular dealers' own distribution equipment, shall be by a long-term lease agreement and not an ad hoc or Agreement -by -Agreement basis. Packagers, brokers, manufacturers' representatives, or other persons who arrange or expedite transactions are not DBE regular dealers within the meaning of this section. D. Materials or supplies purchased from a DBE, which is neither a manufacturer nor a regular dealer, will be limited t• the entire amount of fees or commissions charged for assistance in the proc._remen' „ the materials and supplies, or fees or transportation charges for the deliv- of mater Is or supplies required on the job site, provided the fees are reasonable an• «t exces ' • a ompared with fees charged for similar services. 13. REPORTING PA IP. N O1�DBE TRUCKING COMPANIES When Reporting DBE Participation, Part ation of DBE trucking companies may count as follows: A. The DBE must be responsible .r th.'7 age nr�ent and supervision of the entire trucking operation for which it is responsible. B. The DBE must itself own and operate operational truck used on the Agreement. ne fully licensed, insure, and C. The DBE receives credit for the total value of the tran ation services it provides on the Agreement using trucks it owns, insures, and operat s using drivers it employs. D. The DBE may lease trucks from another DBE firm including an owner -operator who is certified as a DBE. The DBE who leases trucks from another DBE receives credit for the total value of the transportation services the lessee DBE provides on the Agreement. E. The DBE may also lease trucks from a non -DBE firm, including an owner -operator. The DBE who leases trucks from a non -DBE is entitled to credit only for the fee or commission it receives as a result of the lease arrangement. The DBE does not receive credit for the total value of the transportation services provided by the lessee, since these services are not provided by the DBE. F. For the purposes of this section, a lease must indicate that the DBE has exclusive use and control over the truck. This does not preclude the leased truck from working for others during the term of the lease with the consent of the DBE, as long as the lease gives Exhibit C-7 17336.00603\31171937.1 656 the DBE absolute priority for use of the leased truck. Leased trucks must display the name and identification number of the DBE. 14. DEBARMENT, SUSPENSION AND OTHER INELIGIBILITY AND VOLUNTARY EXCLUSION In accordance with 49 CFR Part 29, which by this reference is incorporated herein, Consultant's subconsultants completed and submitted the Certificate of subconsultant Regarding Debarment, Suspension and Other Ineligibility and Voluntary Exclusion as part of the Consultant's proposal. If it is later determined that Consultant's subconsultants knowingly rendered an erroneous Certificate, the Commission may, among other remedies, terminate this Agreement. 15. ENVIRONMENTAL COMPLIANCE A. Compliance with all icable standards, orders, or requirements issued under section 306 of the Clean Air Act (42 U.S.C. 1857(h)), section 508 of the Clean Water Act (33 U.S.C. 1368), Executive Order 11738, and Environmental Protection Agency regulations (40 CFR part 15). (Contracts, subcontracts, and subgrants of amounts in excess of $100,000). B. Mandatory standards and policies relating to energy efficiency which are contained in the state energy conservation plan issued in compliance with the Energy Policy and Conservation Act (Pub. L. 94-163, 89 Stat. 871). 16. NATIONAL LABOR RELATIONS BOARD CERTIFICATION In accordance with Public Contract Code Section 10296, and by signing this Agreement, Consultant certifies under penalty of perjury that no more than one final unappealable finding of contempt of court by a federal court has been issued against Consultant within the immediately preceding two-year period, because of Consultant's failure to comply with an order of a federal court that orders Consultant to comply with an order of the National Labor Relations Board. Exhibit C-8 17336.00603\31171937.1 657 EXHIBIT "D" CONSULTANT DBE COMMITMENT Consultant to Complete this Section 1. Local Agency Name: Riverside County Transportation Commission 2. Project Location: Riverside County 3. Project Description: On -Call Environmental Consultin Services 4. Consultant Name: 5. Contract DBE Goal %: 17% E Commitment Information 6. Description of Services to be Provi 7. DBE Firm Cont t Information 8. DBE Cert. Number 9. DBE % Exhibit D-1 17336.00603\31171937.1 658 EXHIBIT "E" - FTA PROVISIONS FTA FUNDING REQUIREMENTS (Non-construction/maintenance work) As used herein, "RCTC" shall have the same meaning as the "Commission." The term "contract" or "Contract" shall have the same meaning as the "Agreement." 1. No Obligation by the Federal Government a. RCTC and Consultant acknowledge and agree that, notwithstanding any concurrence by the Federal Government in or approval of the solicitation or award of the underlying contract, absent the express written consent by the Federal Government, the Federal Government is not a party to this contract and shall not be subject to any obligations or liabilities to the Purchaser, Consultant, or any other party (whether or not a party to that contract) pertaining to any matter resulting from the underlying contract. b. The Consultant agre= • i . de the above clause in each subcontract financed in whole or in part with Federal assista ' .rovide., FTA. It is further agreed that the clause shall not be modified, except to identify the onsultant o w'll be subject to its provisions. 2. Program Fraud an s or ud t Statements or Related Acts a. The Consultant acknowl- . - es tha 1986, as amended, 31 U.S.C. § 3801 Remedies," 49 C.F.R. Part 31, apply to underlying contract, the Consultant certi it has made, it makes, it may make, or causes to be made, per to the underlying contract or the FTA assisted project for which this contract work is being performed. In addition to other penalties that may be applicable, the Consultant further ackfiipwle4es that if itmakes, or causes to be made, a false, fictitious, or fraudulent claim, statement, submitosion, or` ertificat' r the Federal Government reserves the right to impose the penalties of the Program Fraud Civil ► ies Act of 1986 on the Consultant to the extent the Federal Government deems appropriat visions of the Program Fraud Civil Remedies Act of seq. andlik DOT regulations, "Program Fraud Civil s actions pert 'ng to this Project. Upon execution of the les or affirms the truthfulness and accuracy of any statement b. The Consultant also acknowledges that if it makes, or ca - s to be made, a false, fictitious, or fraudulent claim, statement, submission, or certification to the Federal Government under a contract connected with a project that is financed in whole or in part with Federal assistance originally awarded by FTA under the authority of 49 U.S.C. § 5307, the Government reserves the right to impose the penalties of 18 U.S.C. § 1001 and 49 U.S.C. § 5307(n)(1) on the Consultant, to the extent the Federal Government deems appropriate. c. The Consultant agrees to include the above two clauses in each subcontract financed in whole or in part with Federal assistance provided by FTA. It is further agreed that the clauses shall not be modified, except to identify the subconsultant who will be subject to the provisions. 3. Access to Records The Consultant agrees to the following access to records requirements: 17336.00603\31171937.1 Exhibit E-1 659 a. To provide RCTC, the FTA Administrator, the Comptroller General of the United States or any of their authorized representatives access to any books, documents, papers and records of the Consultant which are directly pertinent to this contract for the purposes of making audits, examinations, excerpts and transcriptions. Consultant also agrees, pursuant to 49 C. F. R. 633.17 to provide the FTA Administrator or his authorized representatives including any PMO Consultant access to Consultant's records and construction sites pertaining to a major capital project, defined at 49 U.S.C. 5302(a)1, which is receiving federal financial assistance through the programs described at 49 U.S.C. 5307, 5309 or 5311. b. To make available in the case of a contract for a capital project or improvement, as defined above and awarded by other than competitive bidding in accordance with 49 U.S.C. 5325(a), records related to the contract to RCTC, the Secretary of Transportation and the Comptroller General or any authorized officer or employee of any of them for the purposes of conducting an audit and inspection. c. To maintain all books, records, accounts and reports required under this contract for a period of not less than three years after thefidate of termination or expiration of this contract, except in the event of litigation or settlement of eta ms. arising from the performance of this contract, in which case Consultant agrees to maintain same Ail RCTC, the FTA Administrator, the Comptroller General, or any of their duly authorized representatives, have disposed of all such litigation, appeals, claims or exceptions related thereto. Reference 49 AR, 18.39(i)(11). d. To permit any of the foregoing parties to reproduce by any means whatsoever or to copy excerpts and transcriptions as reasonably needed. • 4. Federal Changes The Consultant shall at all times comply with all ap ble FTA regulations, policies, procedures and directives, including without limitation those listed directly or by reference in the Master Agreement between RCTC and FTA, as they may be amended°or promulgated fre time to time during the term of this contract. Consultant's failure to so comply shall constituSe a ma t breach of this contract. 5. Civil Rights The following requirements apply to the underlying contract: (1) Nondiscrimination - In accordance with Title VI of the Civil Rights Act, as amended, 42 U.S.C. § 2000d, section 303 of the Age Discrimination Act of 1975, as amended, 42 U.S.C. § 6102, section 202 of the Americans with Disabilities Act of 1990, 42 U.S.C. § 12132, and Federal transit law at 49 U.S.C. § 5332 and 49 CFR part 21, the Consultant agrees that it will not discriminate against any employee or applicant for employment because of race, color, creed, national origin, sex, age, or disability. In addition, the Consultant agrees to comply with applicable Federal implementing regulations and other implementing requirements FTA may issue. (2) Equal Employment Opportunity - The following equal employment opportunity requirements apply to the underlying contract: (a) Race, Color, Creed, National Origin, Sex - In accordance with Title VII of the Civil Rights Act, as amended, 42 U.S.C. § 2000e, and Federal transit laws at 49 U.S.C. § 5332, the Consultant Exhibit E-2 17336.00603\31171937.1 660 agrees to comply with all applicable equal employment opportunity requirements of U.S. Department of Labor (U.S. DOL) regulations, "Office of Federal Contract Compliance Programs, Equal Employment Opportunity, Department of Labor," 41 C.F.R. Parts 60 et seq ., (which implement Executive Order No. 11246, "Equal Employment Opportunity," as amended by Executive Order No. 11375, "Amending Executive Order 11246 Relating to Equal Employment Opportunity," 42 U.S.C. § 2000e note), and with any applicable Federal statutes, executive orders, regulations, and Federal policies that may in the future affect construction activities undertaken in the course of the Project. The Consultant agrees to take affirmative action to ensure that applicants are employed, and that employees are treated during employment, without regard to their race, color, creed, national origin, sex, or age. Such action shall include, but not be limited to, the following: employment, upgrading, demotion or transfer, recruitment or recruitment advertising, layoff or termination; rates of pay or other forms of compensation; and selection for training, including apprenticeship. In addition, the Consultant agrees to comply with any implementing requirements FTA may issue. (b) Age - In accordance with section 4 of the Age Discrimination in Employment Act of 1967, as amended, 29 U.S.C. § § 6 ederal transit law at 49 U.S.C. § 5332, the Equal Employment Opportunity Commission ( OC) regulations, "Age Discrimination in Employment Act," 29 C.F.R. part 1625, the Ag scrimAtion Act of 1975, as amended, 42 U.S.C. § 6101 et seq., U.S. Health and Human Services regulations, "Nondiscrimination on the Basis of Age in Programs or Activities Receiving Federal Financial Assis'tnce," 45 C.F.R. part 90, the Consultant agrees to refrain from discrimination against p esent and prosp tive employees for reason of age. In addition, the Consultant agrees to comply with, im leme ng requirements FTA may issue. (c) Disabilities - In accordance w fT° section 504 o the Rehabilitation Act of 1973, as amended, 29 U.S.C. § 794, the Americans with Disabilities Act of 17)90, as amended, 42 U.S.C. § 12101 et seq., the Architectural Barriers Act of 1968, as amended, 42 U.S.C. § 4151 et seq., and Federal transit law at 49 U.S.C. § 5332, the Consultant agrees that it will iscri e against individuals on the basis of disability, and that it will comply with the requir ent if U.S. Equal Employment Opportunity Commission, "Regulations to Implement the Equ mployment Pre? ' ions of the Americans with Disabilities Act," 29 C.F.R. Part 1630, pertaining t4 employment o sons with disabilities. In addition, the Consultant agrees to comply with any implementing requi is FTA may issue. (3) The Consultant also agrees to include these requirements in e or in part with Federal assistance provided by FTA, modified o affected parties. ubcontract financed in whole if necessary to identify the 6. FTA Disadvantaged Business Enterprise (DBE) Requirements A. General DBE Requirements: In accordance with Federal financial assistance agreements with the U.S. Depaitiiient of Transportation (U.S. DOT), Commission has adopted a Disadvantaged Business Enterprise (DBE) Policy and Program, in conformance with Title 49 CFR Part 26, "Participation by Disadvantaged Business Enterprises in Department of Transportation Programs" (the "Regulations"). This RFP is subject to these stipulated regulations. In order to ensure that Commission achieves its overall DBE Program goals and objectives, Commission encourages the participation of DBEs as defined in 49 CFR 26 in the performance of contracts financed in whole or in part with U.S. DOT funds. It is the policy of the Commission to: Exhibit E-3 17336.00603\31171937.1 661 1. Ensure nondiscrimination in the award and administration of DOT -assisted contracts; 2. Create a level playing field on which DBE's can compete fairly for DOT -assisted contracts; 3. Ensure that the DBE program is narrowly tailored in accordance with applicable law; 4. Ensure that only firms that fully meet 49 C.F.R. part 26 eligibility standards are permitted to participate as DBE's; 5. Help remove barriers to the participation of DBEs in DOT assisted contracts; 6. To promote the use of DBEs in all types of federally assisted contracts and procurement activities; and 7. Assist in the development of firms that can compete successfully in the marketplace outside the DBE program. B. Discrimination: Consultant s! 11 not discriminate on the basis of race, color, national origin, or sex in the award and performance of subcontracts. Any terms used herein that are defined in 49 CFR Part 26, or elsewhere in the Regulation 1 have the meaning set forth in the Regulations. C. Commission's Race -Neutral D rogram: A Race -Neutral DBE Program is one that, while benefiting DBEs, is not solely focused on DBE firms. Therefore, under a Race -Neutral DBE Program, Commission does not establish numeric race -conscious : BE participation goals on its DOT -assisted contracts. There is no FTA DBE goal okthis Project' AP Consultant shall not be required to achieve a specific level of DBE participation as a condition of contract compliance in the performance of this DOT -assisted con t. However, Consultant shall adhere to race -neutral DBE participation corhmitment(s) made he time of award. D. Race -Neutral DBE Submissions and Ongoing Reporting ments (Post -Award): At termination of the Contract, the successful Consultant shall comp nd s mit to Commission a "DBE Race -Neutral Participation Listing" in the form provided b mmission. In the event DBE(s) are utilized in the performance of the Agreement, Consultant sh comply with applicable reporting requirements. E. Performance of DBE Subconsultants: DBE subconsultants listed by Consultant in its "DBE Race -Neutral Participation Listing" submitted at the time of proposal shall perform the work and supply the materials for which they are listed, unless Consultant has received prior written authorization from Commission to perform the work with other forces or to obtain the materials from other sources. Consultant shall provide written notification to Commission in a timely manner of any changes to its anticipated DBE participation. This notice should be provided prior to the commencement of that portion of the work. F. DBE Certification Status: If a listed DBE subconsultant is decertified during the life of this Agreement, the decertified subconsultant shall notify Consultant in writing with the date of decertification. If a non -DBE subconsultant becomes a certified DBE during the life of this Agreement, the DBE subconsultant shall notify Consultant in writing with the date of certification. Consultant shall Exhibit E-4 17336.00603\31171937.1 662 furnish the written documentation to Commission in a timely manner. Consultant shall include this requirement in all subcontracts. G. Consultant's Assurance Clause Regarding Non -Discrimination: In compliance with State and Federal anti -discrimination laws, Consultant shall affirm that it will not exclude or discriminate on the basis of race, color, national origin, or sex in consideration of contract award opportunities. Further, Consultant shall affirm that they will consider, and utilize subconsultants and vendors, in a manner consistent with non-discrimination objectives. H. Violations: Failure by the selected Consultant(s) to carry out these requirements shall be a material breach of the contract to be awarded pursuant to this RFP, which may result in the termination of the contract or such other remedy as the recipient deems appropriate, which may include, but is not limited to: (1) Withholding monthly progress payments; (2) Assessing sanctions; (3) Liquidated damages; an (4) Disqualifying the Co ant from future bidding as non -responsible. 49 C.F.R. § 26.13(b). I. Prompt Payment: Co ltant shall pay its subconsultants for satisfactory performance of their contracts no later than 30 days from receipt of h payment Commission makes to the Consultant. 49 C.F.R. § 26.29(a), unless a shorte#eriod is pro ded in the contract. J. Compliance with DBE Requirements Contained in F rovisions: Consultant shall comply with all DBE reporting and other requirements contain- . ' • greement. 7. Incorporation of Federal Transit Admin ati ' T • ' erms The preceding provisions include, in part, certain Sta . and Te s and ditions required by DOT, whether or not expressly set forth in the preceding contract provisio contractual provisions required by DOT, as set forth in FTA Circular 4220.1F are hereby inc . . ate . , reference. Anything to the contrary herein notwithstanding, all FTA mandated terms sh. . e deemed to control in the event of a conflict with other provisions contained in this Agreement. - Consultant shall not perform any act, fail to perform any act, or refuse to comply with any RCTC requests which would cause RCTC to be in violation of the FTA terms and conditions. 8. Debarment and Suspension. The Consultant agrees to the following: (1) It will comply with the following requirements of 2 CFR Part 180, subpart C, as adopted and supplemented by U.S. DOT regulations at 2 CFR Part 1200. (2) It will not enter into any "covered transaction" (as that phrase is defined at 2 CFR §§ 180.220 and 1200.220) with any subconsultant whose principal is, suspended, debarred, or otherwise excluded from participating in covered transactions, except as authorized by— (i) U.S. DOT regulations, "Nonprocurement Suspension and Debarment," 2 CFR Part 1200; (ii) U.S. OMB regulatory guidance, Exhibit E-5 17336.00603\31171937.1 663 "Guidelines to Agencies on Governmentwide Debarment and Suspension (Nonprocurement)," 2 CFR Part 180; and (iii) Other applicable federal laws, regulations, or requirements regarding participation with debarred or suspended recipients or third party participants. (3) It will review the U.S. GSA "System for Award Management — Lists of Parties Excluded from Federal Procurement and Nonprocurement Programs," if required by U.S. DOT regulations, 2 CFR Part 1200. 9. ADA Access Requirements The Consultant shall comply with all applicable requirements of the Americans with Disabilities Act of 1990 (ADA), 42 USC Section 12101 et seq; Section 504 of the Rehabilitation Act of 1973, as amended, 29 USC Section 794; 49 USC Section 5301(d). 10. Fly America To the extent applicable to the Services, the Consultant agrees to comply with 49 U.S.C. 40118 (the "Fly America" Act) in accordance wih the General Services Administration's regulations at 41 CFR Part 301-10, which provide that recipients and sub recipients of Federal funds and their consultants are required to use U.S. Flag air carriers for U.S. Government -financed international air travel and transportation of their person Ieffects or property, to the extent such service is available, unless travel by foreign air carrier is a matter of necessity, as defined by the Fly America Act. The Consultant shall submit, if a foreign air carrier was used; an appropriate certification or memorandum adequately explaining why service by a U.S. flag ai carrier was no available or why it was necessary to use a foreign air carrier and shall, in any eves; provide a cerficate of compliance with the Fly America requirements. The Consultant agrees to incl*the requirements of this section in all subcontracts that may involve international air transportation. 11. Cargo Preference - Use of United States a Vessels To the extent applicable to the Services, the Consultant agrees: 1. To use privately owned United States -Flag commercial els to ship at least 50 percent of the gross tonnage (computed separately for dry bulk c ers, dry cargo liners, and tankers) involved, whenever shipping any equipment, material, or commodities pursuant to the underlying contract to the extent such vessels are available at fair and reasonable rates for United States -Flag commercial vessels; 2. To furnish within 20 working days following the date of loading for shipments originating within the United States or within 30 working days following the date of leading for shipments originating outside the United States, a legible copy of a rated, "on -board" commercial ocean bill -of -lading in English for each shipment of cargo described in the preceding paragraph to the Division of National Cargo, Office of Market Development, Maritime Administration, Washington, DC 20590 and to the FTA recipient (through the Consultant in the case of a subconsultant's bill -of -lading.) Exhibit E-6 17336.00603\31171937.1 664 3. To include these requirements in all subcontracts issued pursuant to this contract when the subcontract may involve the transport of equipment, material, or commodities by ocean vessel. 11. Buy America — Not applicable. 12. Employment Provisions To the extent applicable to the Services, Consultant shall comply with the following: A. Equal Employment Opportunity — Not applicable. B. Copeland "Anti -Kickback" Act (18 U.S.C. 874 and 40 U.S.C. 276c) —Not applicable. C. Contact Work Hours and Safety Standards Act (40 U.S.C. 327-333) —Not applicable. D. Release of Retainage No retainage will be withheld by the RCTC from progress payments due Consultant. Retainage by Consultant or subconsultants is prohibited, and no retainage will be held by the prime consultant from progress due subconsultants .may violation of this provision shall subject the violating Consultant or subconsultants to the penalties, sanctions, and other remedies specified in Section 7108.5 of the California Business and Professions Code. This requirement shall not be construed to limit or impair any contractual, administrative, or judicial remedies, otherwise available to Consultant or subconsultant in the event of a disputq involving late ,payment or nonpayment by Consultant or deficient subconsultant performance, or noncompliar> by a s bconsultant. 13. Termination for Convenience RCTC may terminate the Agreement for convenience actor s . ce wit • e terms of the Agreement. After such termination, the Consultant shall submit a final terminatio em- proposal to RCTC as directed. If the Consultant fails to submit a proposal within the time . wed, RCTC may determine, on the basis of information available, the amount, if any due the Cons • ant because of the termination and shall pay the amount determined. After the Consultant's proposal is received, RCTC and Consultant shall negotiate a fair and equitable settlement and the contract will be modified to reflect the negotiated agreement. If agreement cannot be reached, RCTC may issue a fmal determination and pay the amount determined. If the Consultant does not agree with this final determination or the determination resulting from the lack of timely submission of a proposal, the Consultant may appeal under the Disputes clause. 14. Administrative and Contractual Remedies on Breach; Termination for Cause a. The Consultant may be declared in breach of this Agreement ("Breach") if the Consultant fails to make delivery of the supplies or to perform the services within the time specified herein or any extension thereof; or if the Consultant fails to perform any of the other provisions of the contract, or so fails to make progress as to endanger performance of this contract in accordance with its terms. In case of any of the foregoing, RCTC shall notify the Consultant of the Breach, and the Consultant shall have Exhibit E-7 17336.00603\31171937.1 665 a period of ten (10) days (or such longer period as RCTC may authorize in writing) after receipt of notice from RCTC to cure the Breach. b. RCTC may, by written notice of termination to the Consultant specifying the effective date thereof, terminate the whole or any part of this contract, in the case of a Breach that is not cured within the timeframe set forth in (a) above ("Uncured Breach"). c. If the contract is terminated in whole or in part for an Uncured Breach, RCTC may procure upon such terms and in such manner as RCTC may deem appropriate, supplies or services similar to those so terminated, or may complete the services with its own forces. The Consultant shall be liable to RCTC for any excess costs for such similar supplies or services, and for any other costs incurred by RCTC as a result of the Uncured Breach. The Consultant shall continue the performance of this contract to the extent not terminated under the provisions of this clause. d. Except with respect to defaults of Subconsultants, the Consultant shall not be liable for any excess costs if the failure to perform the contract arises out of causes beyond the control and without the fault or negligence of the "'Consultant. If the failure to perform is caused by the default of a Subconsultant, and if such default aries out of causes beyond the control of both the Consultant and the Subconsultant, and without the fault or negligence of either of them, the Consultant shall not be liable for any excess costs for failure to perm, unless the supplies or services to be furnished by the Subconsultant were obtainable.from other sous in sufficient time to permit the Consultant to meet the required project completion 40111 e. Payment for completed services o supplies delivered to and accepted by RCTC shall be at the contract price. RCTC may withhold fro amounts otherwise due the Consultant for such completed services or supplies such sum as RCTC determines to be necessary to protect RCTC against loss because of outstanding liens of claims of former lien holders, or to reimburse RCTC for any other costs related to the Uncured Breach. f. 4,If, after notice of termination of this contract cause, 's dete pined for any reason that an Uncured Breach did not exist, the rights and obligations of the parties shall be same as if the notice of termination had been issued pursuant to the provisions for termin `' n for nvenience of RCTC. u shall g. The rights and remedies of RCTC provided in this cla not be exclusive and are in addition to any other rights and remedies provided by law, equity or under this contract including, but not limited to, the right to specific performance h. Notwithstanding the above, RCTC may, without providing an opportunity to cure, terminate the contract in accordance with the timeframe set forth in Section 17 of the contract, if RCTC determines such action is in its best interest based on the nature of the Breach. Such actions shall not limit any of RCTC's remedies set forth above. 16. Disputes a. Except as otherwise provided in this Agreement, any dispute concerning a question of fact arising under this Agreement which is not disposed of by supplemental agreement shall be decided by RCTC's Deputy Executive Director, who shall reduce the decision to writing and mail or otherwise furnish a copy thereof to the Consultant. The decision of the RCTC Deputy Executive Exhibit E-8 17336.00603\31171937.1 666 Director shall be final and conclusive unless, within thirty (30) days from the date of receipt of such copy, Consultant mails or otherwise furnishes to the RCTC Deputy Executive Director a written appeal addressed to RCTC's Executive Director. The decision of RCTC Executive Director or duly authorized representative for the determination of such appeals shall be final and conclusive. b. The provisions of this Paragraph shall not be pleaded in any suit involving a question of fact arising under this Agreement as limiting judicial review of any such decision to cases where fraud by such official or his representative or board is alleged, provided, however, that any such decision shall be fmal and conclusive unless the same is fraudulent or capricious or arbitrary or so grossly erroneous as necessarily to imply bad faith or is not supported by substantial evidence. In connection with any appeal proceeding under this Paragraph, the Consultant shall be afforded an opportunity to be heard and to offer evidence in support of its appeal. c. Pending fmal decision of a dispute hereunder, Consultant shall proceed diligently with the performance of this Agreement and in accordance with the decision of RCTC's Deputy Executive Director. This "Disputes" clause does not preclude consideration of questions of law in connection with decisions provided for above. Nothinz in this Agreement, however, shall be construed as making final the decision of any RCTC official or'representative on a question of law, which questions shall be settled in accordance INA the laws q the State of California. 17. Lobbying See the Byrd Anti -Lobbying Am men , 31 U.S.C. 1352, as amended by the Lobbying Disclosure Act of 1995, P.L. 104-65 [to be codifie4t 2 U.S.C. § 1i 01, et seq.] - Consultants who apply or bid for an award of $100,000 or more shall file the certif ation required by 49 CFR part 20, "New Restrictions on Lobbying." Each tier certifies to the tier above t at it will not and has not used Federal appropriated funds to pay any person or organization for inf cing or attempting to influence an officer or employee of any agency, a member of Congre offic r employee of Congress, or an employee of a member of Congress in connection ing a ederal contract, grant or any other award covered by 31 U. S.C. 1352. Each tier sha . lso disejose th e of any registrant under the Lobbying Disclosure Act of 1995 who has made lobbying contacts o ehalf with non -Federal funds with respect to that Federal contract, grant or award cove by U.S.C. 1352. Such disclosures are forwarded from tier to tier up to the recipient. The eror shall complete and submit with its bid/proposal the attached Certification Regarding Lobb g, and if applicable, the Standard Form-LLL, "Disclosure Form to Report Lobbying." 18. Energy Conservation The Consultant agrees to comply with mandatory standards and policies relating to energy efficiency which are contained in the state energy conservation plan issued in compliance with the Energy Policy and Conservation Act. 19. Clean Water a. The Consultant agrees to comply with all applicable standards, orders or regulations issued pursuant to the Federal Water Pollution Control Act, as amended, 33 U.S.C. 1251 et seq. The Consultant agrees to report each violation to RCTC and understands and agrees that RCTC will, in Exhibit E-9 17336.00603\31171937.1 667 turn, report each violation as required to assure notification to FTA and the appropriate EPA Regional Office. d. The Consultant further agrees that: (1) It will not use any violating facilities; (2) It will report the use of facilities placed on or likely to be placed on the U.S. EPA "List of Violating Facilities;" (3) It will report violations of use of prohibited facilities to FTA; and (4) It will comply with the inspection and other requirements of the Clean Air Act, as amended, (42 U.S.C. §§ 7401 — 7671q); and the Federal Water Pollution Control Act as amended, (33 U.S.C. §§ 1251-1387). The Consultant also agrees to include these requirements in each subcontract exceeding $150,000 financed in whole or in part with Federal assistance provided by FTA. 20. Clean Air a. The Consultant ees to comply with all applicable standards, orders or regulations issued pursuant to the Clean ct, as amended, 42 U.S.C. §§ 7401 et seq. The Consultant agrees to report each violation to RCTC and understands and agrees that RCTC will, in turn, report each violation as required to assure notification to FT nd the propriate EPA Regional Office. propriate b. The Consultant fit ter agrees that: (1) It will not use any violating facilities (2) It will report the use of facilities placed on or likely be played on the U.S. EPA "List of Violating Facilities;" (3) It will report violations of use of prohibited facilities to FTA; and (4) It will comply with the inspection and other re uirPu ents of the e an Air Act, as amended, (42 U.S.C. §§ 7401 — 7671q); and the Federal Water Po ti on Control A amended, (33 U.S.C. §§ 1251-1387). c. The Consultant also agrees to include these requireme each subcontract exceeding $150,000 financed in whole or in part with Federal assistance p ided by FTA. 21. Recycled Products Recovered Materials - The Consultant agrees to comply with all the requirements of Section 6002 of the Resource Conservation and Recovery Act (RCRA), as amended (42 U.S.C. 6962), including but not limited to the regulatory provisions of 40 CFR Part 247, and Executive Order 12873, as they apply to the procurement of the items designated in Subpart B of 40 CFR Part 247. 21. SPECIAL PROVISION FOR PROMOTING COVID-19 SAFETY Section 49. Centers for Disease Control and Prevention Order on Requirements for Persons to Wear Masks While on Conveyances and at Transportation Hubs. Exhibit E-10 17336.00603\31171937.1 668 (a) Compliance with CDC Mask Order. The Centers for Disease Control and Prevention ("CDC") Order of January 29, 2021, titled Requirement for Persons to Wear Masks While on Conveyances and at Transportation Hubs ("CDC Mask Order"), applies to this Agreement. One of the objectives of the CDC Mask Order is "[m]aintaining a safe and operating transportation system." Consultant agrees that it will comply, and will require all subconsultants to comply, with the CDC Mask Order, to the extent the CDC Mask Order remains in effect. (b) Enforcement for non-compliance. Consultant agrees that FTA and RCTC may take enforcement action for non-compliance with the CDC Mask Order, to the extent the CDC Mask Order remains in effect, including: (1) enforcement actions authorized by 49 U.S.C. § 5329(g); (2) referring Consultant to the CDC or other Federal authority for enforcement action; (3) enforcement actions authorized by 2 CFR §§ 200.339 — .340; and (4) any other enforcement action authorized by Federal law or regulation. 22. Safe Operation of Motor Vehicles Pursuant to Federal Executive Order No. 13043, "Increasing Seat Belt Use in the United States," April 16, 1997, 23 U.S.C. Section 402 n2te, FTA encourages each third party consultant to adopt and promote on-the-job seat belt use policies and programs for its employees and other personnel that operate company owned, rented, or personally operated vehicles, and to include this provision in each third party subcontract involving the project. a. The Consultant is encouraged to adopt and promote on-the-job seat belt use policies and programs for its employees and other personnel thatope te company -owned vehicles, company -rented vehicles, or personally operated vehicles. The to "company-o ed" and "company -leased" refer to vehicles owned or leased either by the Consultal or RCTC. b. The Consultant agrees to adopt and enforce w place safety policies to decrease crashes caused by distracted drivers, including policies to ba ext aging while using an electronic device supplied by an employer, and driving a vehicle the riv awns or rents, a vehicle Contactor owns, leases, or rents, or a privately -owned vehicle wheh on ficial businein connection with the work performed under this contract. 23. Notification to FTA. a. If a current or prospective legal matter that may affect the Feder a> overnment emerges, the Consultant must promptly notify the FTA Chief Counsel and FTA Regional Counsel for the Region in which this Agreement is being performed. The types of legal matters that require notification include, but are not limited to, a major dispute, breach, default, litigation, or naming the Federal Government as a party to litigation or a legal disagreement in any forum for any reason. b. Matters that may affect the Federal Government include, but are not limited to, the Federal Government's interests in the Award, the accompanying Underlying Agreement, and any Amendments thereto, or the Federal Government's administration or enforcement of federal laws, regulations, and requirements. c. Additional Notice to U.S. DOT Inspector General. The Consultant must promptly notify the U.S. DOT Inspector General in addition to the FTA Chief Counsel or Regional Counsel for the Region in which the Commission located, if Consultant has knowledge of potential fraud, waste, or abuse occurring on a Project receiving assistance from FTA. The notification provision applies if a person has or may have submitted a false claim under the False Claims Act, 31 U.S.C. § 3729, et seq., or has or may have committed a criminal or civil Exhibit E-11 17336.00603\31171937.1 669 violation of law pertaining to such matters as fraud, conflict of interest, bid rigging, misappropriation or embezzlement, bribery, gratuity, or similar misconduct involving federal assistance. Knowledge, as used in this paragraph, includes, but is not limited to, knowledge of a criminal or civil investigation by a Federal, state, or local law enforcement or other investigative agency, a criminal indictment or civil complaint, or probable cause that could support a criminal indictment, or any other credible information in the possession of the Consultant. In this paragraph, "promptly" means to refer information without delay and without change. 24. Prohibition on Certain Telecommunications and Video Surveillance Services or Equipment Consultant shall not contract (or extend or renew a contract) to procure or obtain equipment, services, or systems that uses covered telecommunications equipment or services as a substantial or essential component of any system, or as critical technology as part of any system funded under this Contract. As described in Public Law 115-232, section 889, covered telecommunications equipment is telecommunications equipment produced by Huawei Technologies Company or ZTE Corporation (or any subsidiary or affiliate of such entities). a. For the purpose of public safe , security of government facilities, physical security surveillance of critical infrastructure, and other natio ecurity purposes, video surveillance and telecommunications equipment produced by Hytera Co ations C brporation, Hangzhou Hikvision Digital Technology Company, or Dahua Technology Co (or any sl idia or affiliate of such entities). b. Telecommunications o c. Telecommunications or video s Secretary of Defense, in consultation with th Bureau of Investigation, reasonably believes the government of a covered foreign count ices provided by such entities or using such equipment. ent or services produced or provided by an entity that the or of the National Intelligence or the Director of the Federal ed or controlled by, or otherwise connected to, Exhibit E-12 17336.00603\31171937.1 670 EXHIBIT "F" — LOBBYING ACTIVITIES DISCLOSURE Exhibit F-1 17336.00603\31171937.1 671 Local Assistance Procedures Manual EXHIBIT 10-Q Disclosure of Lobbying Activities EXHIBIT 10-Q DISCLOSURE OF LOBBYING ACTIVITIES COMPLETE THIS FORM TO DISCLOSE LOBBYING ACTIVITIES PURSUANT TO 31 U.S.C. 1352 1. Type of Federal Action: 2. Status of Federal Action: 3. Report Type: a. contract n a. bid/offer/application a. initial b. grant b. initial award b. material change c. cooperative agreement c. post -award d. loan e. loan guarantee f. loan insurance 4. Name and Address of Reporting Entity Prime Congressional District, if 6. Federal Department/A 8. Federal Action Subawardee Tier , if known 10. Name and Address of L i i Ent' (If individual, last name, first n Mf (attach 12. Amount of Payment (check all that ap $ n actual 13. Elm of Payment (check all that a a cash b. in -kind; specify: lue For Material Change Only: year quarter date of last report 5. If Reporting Entity in No. 4 is Subawardee, Enter Name and Address of Prime: Congressional Dish.' , if . own 7. Federal Program Na ui 41 : ription: CFDA Nu 9. Award A able known: 11. vidx[ls Performing Services address if different from No. 10) e, first name, MI) necessary) Type of Payment (check all that apply) ainer ime fee on conting< fee ferred f. other, spec 15. Brief Description of . ervi . Performed or to be performed and Date(s) officer(s), employe or mber(s) contacted, for Payment Indicate (attach Continuation Sheet(sif ecessary) 16. Continuation Shh (s) attached: Yes n No 17, Information requested through this form is authorized by Title 31 U.S.C. Section 1352. This disclosure of lobbying reliance was placed by the tier above when his transaction was made or entered into. This disclosure is required pursuant to 31 U.S.C. 1352. This information will be reported to Congress semiannually and will be available for public inspection. Any person who fails to file the required disclosure shall be subject to a civil penalty of not less than $10,000 and not more than $100,000 for each such failure. Federal Use Only: Signature: Print Name: Gilberto Ruiz uding Title: Principal Environmental Planner Telephone No.: (213) 269-4200 Date:7/14/22 Authorized for Local Reproduction Standard Form - LLL Standard Form LLL Rev. 04-28-06 Distribution: Orig- Local Agency Project Files LPP 13-01 672 Page 1 May 8, 2013 AGENDA ITEM 6M RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: December 14, 2022 TO: Riverside County Transportation Commission FROM: Budget and Implementation Committee Bryce Johnston, Senior Capital Projects Manager THROUGH: Anne Mayer, Executive Director SUBJECT: Quarterly Reporting of Contract Change Orders for Construction Contracts BUDGET AND IMPLEMENTATION COMMITTEE AND STAFF RECOMMENDATION: This item is for the Commission to 1) Receive and file the Quarterly Report of Contract Change Orders for Construction Contracts for the three months ended September 30, 2022. BACKGROUND INFORMATION: During the past quarter, July through September 2022, the Commission has had the following projects under construction: 1. Mid County Parkway (MCP) Placentia project 2. 1-15 Railroad Canyon Interchange project 3. SR -60 Truck Lanes project 4. MVMF Platform and Track Expansion 5. 1-15 Express Lanes project 6. SR -91 Corridor Operations project (91 COP) 7. 15/91 Express Lanes Connector 8. 1-15 Interim Corridor Operations project DISCUSSION: At the direction of the Executive Committee at its March 2021 meeting, a report will be filed each quarter listing the construction contract change orders that were issued in the previous quarter. The following table summarizes the Contract Change Orders that occurred in the last quarter (1St quarter of Fiscal Year 2022/23). Agenda Item 6M 673 Contractor Change Project Orders executed in the 3rd Quarter of CY 2022 CCO No. Description Amount MCP Placentia Project CCO 26 CCO 27 CCO 2-S2 CCO 3-S1 Electrical Changes - Controllers. Changes at Harvill Existing Utility Conflicts and Modifications Additional Funds - Maintain Traffic and Flagging Buried Man Made Objects 572.501.00 540.000.00 S25.000 00 525.000 00 1-15 Raib•oad Canyon Interchange Project CCO 07 Buffer Sound Barrier 565.816.58 CCO 36-S1 Type B Joint Seal Replacement (material change) 534.410.29 CCO 54-S1 In -N -Out Hand Rail Reconciliation 5417.16 CCO 58-S1 Textured Concrete Adjacent to 7 Eleven 54.722 52 CCO 69 Stage 4 RA5 Ramp Right Turn Lane Closure & Warnings 530.000.00 CCO 74 Buried Manmade Object RA5 Ramp 5592.32 CCO 75-S1 Water Charges (Supplemental) 1567 146 00i CCO 78 Ramp Metering System 58.000.00 CCO 81 Bioswale Rock Slope Protection S37.000.00 CCO 82 Caltrans Location 3 Traffic Signal Controller Cabinet Replacement 585.000.00 CCO 85 Caltrans Lighting Control 510.000 00 CCO 86 Time Related OH from extensions time (56 days total) 5140.000 00 SR -60 Truck Lanes Project CCO 72 Slope Stabilization 5175.000.00 CCO 77 Barrier Transition 58.598.00 CCO 79 Drainage System 4122 Modification 593.385.48 CCO 81 Plants and Watering 5106,756 26 CCO 82 Truck Lanes Traffic Markings 515.834.28 CCO 83 Rip -rap Infill at Box Culvert 535.472.54 MVMF Platform and Track Expansion CCO 01 Working Day Clarification S0.00 CCO 02 LNTP Extension 50.00 91 C 0 P CCO 24 Concrete Barner Transition 60.000 CCO 25 Additional Out Of Scope Work 100.000 15/91 Express Lanes Connector CCO 14 Edge Drain 5275,699.00 CCO 15 Pavement Under Dike 5117.991.00 CCO 16 Construction Related Work for the EB 2.0 SR 91 Additional Express Lane 54.290.571.00 CCO 18 Global Settlement • Cost and Time Impacts For Project Related Issues _51.576.113.00 1-15 Intenm Corridor Operations Project CCO 03 Miscellaneous Items S67.539 47 FISCAL IMPACT: The Contract Change Orders were executed using available contingency authorized with the construction contract for each project. Agenda Item 6M 674 AGENDA ITEM 7 RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: December 14, 2022 TO: Riverside County Transportation Commission FROM: Budget and Implementation Committee Sergio Vidal, Chief Financial Officer THROUGH: Anne Mayer, Executive Director SUBJECT: Annual Investment Policy BUDGET AND IMPLEMENTATION COMMITTEE AND STAFF RECOMMENDATION: This item is for the Commission to: 1) Approve the revised annual Investment Policy; and 2) Adopt Resolution No. 22-020, "Resolution of the Riverside County Transportation Commission Regarding the Revised Investment Policy". BACKGROUND INFORMATION: In accordance with state law, staff annually submits a resolution to the Commission recommending approval of the Commission's Investment Policy. The Investment Policy outlines the following primary objectives in priority order: • To provide safety of principal; • To provide sufficient liquidity; and • To maximize return on investments. DISCUSSION: Section XIV of the Investment Policy requires an annual investment policy review and specifically states that the "Chief Financial Officer shall annually render to the Board a statement of investment policy, which the Board must consider at a public meeting. Any changes to the policy shall also be considered by the Board at a public meeting." Therefore, staff reviewed the Investment Policy approved by the Commission in December 2021 and consulted with legal counsel to consider changes to the policy. Additionally, throughout the year staff consulted with the Commission's investment managers and County Treasurer's Office to determine an appropriate level of changes primarily affecting the Commission's operating investment portfolio. Agenda Item 7 675 The following is an overview of the recommended changes to the Investment Policy: Section IX - Reporting • The frequency of the dissemination and contents of the investment report to Commissioners has been updated. Staff will provide Commissioners with a monthly investment report within 30 days following the end of the month. Previously, a report was submitted to the Commission for review on a quarterly basis. Section XI — Authorized Broker -Dealers and Financial Institutions • This section has been updated to expand the due diligence provisions to cover all securities professionals providing investment advice, not only broker -dealers. Other changes to this section include references to specific Government Code sections for clarification, and minor language updates and changes. SUMMARY AND FISCAL IMPACT: Staff recommends approval of the Investment Policy and adoption of Resolution No. 22-020 related to the Investment Policy. There is no fiscal impact related to the approval and adoption of this policy; the approval by the Commission, as provided in the Investment Policy results in a direct fiscal impact. Attachments: 1) Resolution No. 22-020 2) Investment Policy (red -line draft) 3) Investment Policy (clean) Approved by the Budget and Implementation Committee on November 28, 2022 In Favor: 11 Abstain: 0 No: 0 Agenda Item 7 676 ATTACHMENT 1 RESOLUTION NO. 22-020 RESOLUTION OF THE RIVERSIDE COUNTY TRANSPORTATION COMMISSION REGARDING THE REVISED INVESTMENT POLICY WHEREAS, the Riverside County Transportation Commission (the "Commission") currently retains the authority to add, delete or otherwise modify the Commission's policies and procedures; WHEREAS, the Commission desires to modify the Investment Policy. NOW, THEREFORE, the Riverside County Transportation Commission does hereby resolve as follows: Section 1. The Riverside County Transportation Commission hereby adopts the Investment Policy, as revised, and attached as Exhibit A. APPROVED AND ADOPTED this 14th day of December, 2022. V. Manuel Perez, Chair Riverside County Transportation Commission ATTEST: Lisa Mobley Clerk of the Board 677 ATTACHMENT 2 MIN mow Riverside County Transportation Commission INVESTMENT POLICY I. Introduction The purpose of this document is to identify policies and procedures that enhance opportunities for a prudent investment program and to organize and formalize investment -related activities. II. Scope It is intended that this Policy cover all funds (except retirement funds) and investment activities under the direction of the Commission serving as the Riverside County Transportation Commission's governing board. Investment activities may be classified between operating and bond/debt portfolios. III. Delegation of Authority Pursuant to the Commission's Administrative Code, tThe Commission's management responsibility for the investment program is hereby delegated for a one-year period to the Executive Director who shall monitor and review all investments for consistency with this investment policy. Subject to review, the Commission may renew the delegation of authority pursuant to this section each year. The Executive Director may delegate these duties to a designee ("Chief Financial Officer"). The Commission may delegate its investment decision making and execution authority to an investment advisor. The advisor shall follow this Policy and such other written instructions as are provided. IV. Prudence All persons authorized to make investment decisions on behalf of the Commission are subject to the prudent investor standard. Investments shall be made with care, skill, prudence and diligence under circumstances then prevailing, including, but not limited to, the general economic conditions and the anticipated needs of the Commission that a prudent person acting in a like capacity and familiarity with those matters would use in the conduct of funds of a like character and with like aims, to safeguard the principal and maintain the liquidity needs of the Commission. Authorized individuals acting in accordance with this Policy and written procedures and exercising due diligence shall be relieved of personal responsibility for an individual 1 Revised December 148, 20224 678 security's credit risk or market price changes, provided deviations from expectations are reported in a timely fashion. V. Objective The Commission's primary investment objectives, in priority order, shall be: 1. Safety. Safety of principal is the foremost objective of the investment program. Investments of the Commission shall be undertaken in a manner that seeks to ensure preservation of capital in the portfolio. 2. Liquidity. The investment portfolio of the Commission will remain sufficiently liquid to enable the Commission to meet its cash flow requirements. 3. Return on Investment. The investment portfolio of the Commission shall be designed with the objective of maximizing return on its investments, but only after ensuring safety and liquidity. The Commission may from time to time sell securities that it owns in order to better reposition its portfolio assets in accordance with updated cash flow schedules, yield opportunities existing between market sectors, or simply market timing. VI. Investments California Government Code Section 53601 governs the investments permitted for purchase by the Commission. Within the investments permitted by Code, the Commission seeks to further restrict eligible investments to the investments listed in Section VI.1 below. Percentage limitations, where indicated, apply at the time of purchase. Percentage holdings with any one non-U.S. Government issuer or non -Federal Agency issuer are further restricted to a maximum of 10% (direct and indirect commitments), except as otherwise noted. Rating requirements where indicated, apply at the time of purchase. In the event a security held by the Commission is subject to a rating change that brings it below the minimum specified rating requirement, the Chief Financial Officer shall be authorized to act immediately and to notify the Commission of any actions taken in regards to the security. The course of action to be followed will then be decided on a case -by -case basis, considering such factors as the reason for the rating drop, prognosis for recovery or further rating drops, and the market price of the security. 1 Revised December 148, 20224 679 1. Eligible Investments A. U.S. Government Issues. United States Treasury notes, bonds, bills, or certificates of indebtedness, or those for which the faith and credit of the United States are pledged for the payment of principal and interest. B. Federal Agency Securities. Federal agency or United States government - sponsored enterprise obligations, participations, or other instruments, including those issued by or fully guaranteed as to principal and interest by federal agencies or United States government -sponsored enterprises. C. Supranational Obligations. Obligations issued, or unconditionally guaranteed, by the following supranational institutions: 1. International Bank for Reconstruction and Development; and 2. International Finance Corporation. Such securities must have a maximum maturity of four (4) years and ratings from at least one Nationally Recognized Statistical Rating Organization (NRSRO) as follows: at least "Aa/AA/or AA" which denotes "Aa2" by Moody's Investors Service (Moody's), or "AA" by S&P Global Ratings (S&P), or "AA" by Fitch Ratings (Fitch); or as otherwise approved by the Commission. Investments in supranational obligations are limited to a maximum of 20% of Commission funds with no more than 10% of funds invested in any one supranational institution. D. Municipal Bonds. Registered treasury notes or bonds of any of the other 49 United States, in addition to California, payable solely out of the revenues from a revenue - producing property owned, controlled, or operated by a state or by a department, board, agency or authority of any of the other 49 United States, in addition to California. Such securities must have a maximum maturity of five (5) years and ratings from at least one NRSRO as follows: at least "A1/A+/or A+"; or as otherwise approved by the Commission. Registered general obligation treasury notes or bonds of any of the 50 United States. Such securities must have a maximum maturity of five (5) years and ratings from at least one NRSRO as follows: at least "A1/A+/or A+" or as otherwise approved by the Commission. Taxable or tax-exempt bonds, notes, warrants, or other evidences of indebtedness of any local agency within the State of California with a maximum maturity of five (5) years and ratings from at least one NRSRO 1 Revised December 148, 20224 680 as follows: at least "A1/A+/or A+" (the minimum rating shall apply to the local agency, irrespective of any credit enhancement), including bonds, notes, warrants, or other evidences of indebtedness payable solely out of the revenues from a revenue -producing property owned, controlled, or operated by either the local agency, a department, board, agency, or authority of the local agency, or of any local agency within this state. Investments in municipal bonds are further limited to 25% of the Commission's funds. E. Tri-Party Repurchase Agreements. Tri-party repurchase agreements are to be used solely as short-term investments not to exceed 30 days. The Commission may enter into tri-party repurchase agreements with primary government securities dealers rated "A" or better by two NRSROs. Counterparties should also have (i) a short-term credit rating of at least P - 1/A -1/ or F-1; (ii) minimum assets and capital size of $25 billion in assets and $350 million in capital; (iii) five years of acceptable audited financial results; and (iv) a strong reputation among market participants. The following collateral restrictions will be observed: Only U.S. Treasury securities or Federal Agency securities, as described in V.1 A and B, will be acceptable collateral. All securities underlying tri-party repurchase agreements must be delivered to the Commission's custodian or fiscal agent bank versus payment or be handled under a properly executed tri- party repurchase agreement. The total market value of all collateral for each tri-party repurchase agreement must equal or exceed 102% of the total dollar value of the money invested by the Commission for the term of the investment. For any tri-party repurchase agreement with a term of more than one day, the value of the underlying securities must be reviewed on an on -going basis according to market conditions. Market value must be calculated each time there is a substitution of collateral. The Commission or its trustee shall have a perfected first security interest under the Uniform Commercial Code in all securities subject to tri-party repurchase agreement. The Commission shall have properly executed a PSA agreement with each counterparty with which it enters into tri-party repurchase agreements. F. U.S. Corporate Debt. Medium -term notes, defined as all corporate and depository institution securities with a maximum remaining maturity of five (5) years or less, issued by corporations organized and operating within the United States or depository institutions licensed by the United States or any state and operating within the United States. Eligible investment shall be rated at least "A1/A+/ or A+" by at least one NRSRO. 1 Revised December 148, 20224 681 Investments in U.S. Corporate Debt are further limited to 25% of the Commission's funds. G. Commercial Paper. Commercial paper rated in the highest category by one or more nationally recognized statistical rating organization (NRSRO). The entity that issues the commercial paper shall meet all of the following conditions in either paragraph (1) or paragraph (2): (1) The entity meets the following criteria: (A) Is organized and operating in the United States as a general corporation. (B) Has total assets in excess of five hundred million dollars ($500,000,000). (C) Has debt other than commercial paper, if any, that is rated "A" or higher by at least one NRSRO. (2) The entity meets the following criteria: (A) Is organized within the United States as a special purpose corporation, trust, or limited liability company. (B) Has program -wide credit enhancements, including, but not limited to, over collateralization, letters of credit, or surety bond. (C) Has commercial paper that is rated at least "P-1/A-1/or F-1", or the equivalent, by at least one NRSRO. Purchases of eligible commercial paper may not exceed 270 days maturity nor represent more than 10% of the outstanding paper of an issuing corporation. Investments in commercial paper are limited to a maximum of 25% of the Commission's funds. H. Banker's Acceptances. Banker's acceptances issued by domestic or foreign banks, which are eligible for purchase by the Federal Reserve System. Purchases of banker's acceptances may not exceed 180 days maturity. Eligible banker's acceptances are restricted to issuing financial institutions with short-term paper rated in the highest category by one or more nationally recognized rating service. Investments in banker's acceptances are further limited to 40% of the Commission's funds with no more than 30% of the Commission's funds invested in the banker's acceptances of any one commercial bank. I. Money Market Mutual Funds. Shares of beneficial interest issued by diversified management companies that are money market funds registered with the Securities and Exchange Commission under the Investment Company Act of 1940 (15 U.S.C. Sec. 80a-1, et seq.) and that invest solely in U.S. treasuries, obligations of the U.S. Treasury, and repurchase agreements relating to such treasury obligations. The Commission may invest in shares of beneficial interest issued by a company that shall have met either of the following criteria: (1) Attained 1 Revised December 148, 20224 682 the highest ranking or the highest letter and numerical rating provided by not less than two nationally recognized rating services. (2) Retained an investment adviser registered or exempt from registration with the Securities and Exchange Commission with not less than five years' experience managing money market mutual funds with assets under management in excess of five hundred million dollars ($500,000,000). The purchase price of shares of beneficial interest purchased pursuant to this subdivision shall not include any commission that the companies may charge. Investments in Money Market Mutual Funds are further limited to 20% of the Commission's funds. J. Riverside County Pooled Investment Fund ("RCPIF"). The Commission may invest in the Riverside County Pooled Investment Fund. As on -going due diligence, the Chief Financial Officer shall obtain the information listed below: • A description of eligible investment securities and a written statement of investment policy. • A description of the interest calculation, the frequency of interest distributions, and the treatment of gains and losses in the portfolio. • A description of how often the securities are priced, how the securities are safeguarded, and the audit arrangements. • A description of who may invest in the program, how often they may invest, and what size deposits and withdrawals are allowed. • A schedule for receiving statements and portfolio listings. • A fee schedule, and when and how fees are assessed. • The composition of the investment fund for each reporting period. K. State of California Local Agency Investment Fund ("LAIF"). The Commission may invest in LAIF. As on -going due diligence, the Chief Financial Officer shall obtain the information listed below: • A description of eligible investment securities and a written statement of investment policy. • A description of the interest calculation, the frequency of interest distributions, and the treatment of gains and losses in the portfolio. • A description of how often the securities are priced, how the securities are safeguarded, and the audit arrangements. • A description of who may invest in the program, how often they may invest, and what size deposits and withdrawals are allowed. 1 Revised December 148, 20224 683 • A schedule for receiving statements and portfolio listings. • A fee schedule, and when and how fees are assessed. • The composition of the investment fund for each reporting period. L. Certificates of Deposit. Negotiable Certificates of Deposit (NCD's): NCDs are money market instruments issued by a bank. They specify that a sum of money has been deposited, payable with interest to the bearer of the certificates on a certain date. NCDs are issued by nationally or state chartered bank or state or federal savings and loan association. All purchases must be from institutions rated the highest letter and number rating (e.g., P-1/A-1/or F- 1) as provided for by at least one NRSRO, as designated by the U.S. Securities and Exchange Commission. The maturity of NCDs shall not exceed one (1) year to maturity, and purchases of NCDs shall not exceed 30% of the Commission's investment portfolio. NCDs shall be evaluated in terms of the creditworthiness of the issuing institution, as these deposits are uninsured and uncollateralized promissory notes. FDIC -insured Certificates of Deposit: The principal amount of the investment must be federally insured through the Federal Deposit Insurance Corporation (FDIC). No more than the prevailing FDIC insured coverage amount may be invested with any one deposit. Certificates of Deposit placed through the Certificate of Deposit Account Registry Service (CDARS) shall be considered fully insured, assuming that the total amount invested with any participating bank is limited to the prevailing FDIC insured coverage amount. Interest on the principal must be paid to the Commission at least annually. The placement of Certificates of Deposit with local banks that qualify in accordance with Government Code section 53601(h) is encouraged. The Commission, at its discretion, may invest a portion of its funds in certificates of deposit at a commercial bank, savings bank, savings and loan association, or credit union using a private sector entity to assist in the placement of such certificates, provided that it complies with Government Code Section 53601.8. Such investments may not exceed in total 20% of the Commission's funds invested pursuant to Government Code Sections 53601.8, 53635.8 and 53601, and shall have a maximum maturity of one (1) year from the date of the deposit. Collateralized Certificates of Deposit: For investments exceeding $100,000, there will be a waiver of collateral for the first $100,000 deposited and protected by FDIC insurance. The remainder of the deposit shall be fully collateralized by U.S. Treasury and Federal Agency securities having maturities less than five years. The Commission must receive written confirmation that these securities have been pledged in 1 Revised December 148, 20224 684 repayment of the time deposit. The securities pledged as collateral must have a current market value greater than the dollar amount of the deposit in keeping with the ratio requirements specified in Section 53652 of the Government Code. Additionally, a statement of the collateral shall be provided to the Commission on a monthly basis. Such investments may not exceed in total 15% of the Commission's funds invested pursuant to Government Code Sections 53601.8, 53635.8 and 53601, and shall have a maximum maturity of one (1) year from the date of the deposit. M. Time Deposits. Federal Deposit Insurance Corporation insured money market savings accounts or time deposits which are deposited through depository institutions which are participants of the Money Market Insured Deposit Account Service ("MMIDAS"). N. Mortgage and Asset -backed Securities. Any mortgage pass -through security, collateralized mortgage obligation, mortgage -backed or other pay -through bond, equipment lease -backed certificate, consumer receivable -backed bond of a maximum maturity of five (5) years. Securities eligible for investment under this subdivision shall be issued by an issuer and rated at least "A3/A-/or A-" for the issuer's debt as provided by at least one NRSRO and rated in the rating category of "AAA" or its equivalent (excluding U.S. Government/Agency-backed structured products which will be permitted with their prevailing ratings even if those ratings are below the rating category of "AAA") by at least one NRSRO. Purchase of these securities may not exceed 10% of the Commission's operating investment portfolio. 2. Eligible Investments for Bond Proceeds Bond proceeds shall be invested in securities permitted by the applicable bond documents. If the bond documents are silent as to permitted investments, bond proceeds will be invested in securities permitted by this Policy. With respect to maximum maturities, the Policy authorizes investing bond reserve fund proceeds beyond the five (5) years if prudent in the opinion of the Chief Financial Officer. 3. Ineligible Investments The Commission shall not invest any funds in the types of securities as provided in California Government Code Section 53601.6. 1 Revised December 148, 20224 685 The purchase of any security not listed in Section VI.1 above, but permitted by the California Government Code, is prohibited unless the Commission approves the investment either specifically or as a part of an investment program approved by the Commission. VII. Maximum Maturities Maturities of investments will be selected to provide necessary liquidity, minimize interest rate risk, and maximize earnings. Current and expected yield curve analysis will be monitored and the portfolio will be invested accordingly. Because of inherent difficulties in accurately forecasting cash flow requirements, a portion of the portfolio should be continuously invested in readily available funds. Where this Policy does not specify a maximum remaining maturity at the time of the investment, no investment shall be made in any security, other than a security underlying a repurchase or reverse repurchase agreement authorized by this section, that at the time of the investment has a term remaining to maturity in excess of five (5) years. VIII. Performance Standards The Chief Financial Officer shall continually monitor and evaluate the portfolio's performance. IX. Reporting The Executive Director or designee shall prepare and provide to the Commission a monthly report, within 30 days following the end of the month, which includes the following information: • Type of investment; • Issuer name; • Date of maturity; • Dollar amount invested in all securities, and investments and monies held by the local agency; • A description of the funds, investments, and programs (including lending programs) managed by contracted parties; • Current market value of securities; • A statement of compliance with the investment policy or an explanation for non -compliances and • A statement denoting the ability of the Commission to meet its liquidity requirements for the next six months, or provide an explanation as to why sufficient money, shall or may not be available. Revised December 148, 20224 686 The Chief Financial Officer shall prepare and provide to the Commission and the Executive Director, within 60 days following the end of the quarter, a portfolio report, which includes the following information: • Type of investment • -Name of issuer • Date of maturity • Da-tc of purchase • Par value • Original purchase cost • Cal -I date (if applicable} • Current market value of securities • Unrealized market value gain/loss • Coupon rate, if applicable • Yield to maturity • Average duration of portfolio • Listing of all investment transactions during the quarter • A statement that the portfolio complies with the investment policy, or the manner in which the portfolio is not in compliance • A statement denoting the ability of the Commission to meet its liquidity requirements for the next six months, or provide an explanation as to why sufficient money shall, or may not be, available. X. Investment Procedures The Chief Financial Officer, as the Commission's designee, is responsible for ensuring compliance with the Commission's investment policies and establishing written procedures and internal controls for the operation of the investment program. No person may engage in investment transactions except as provided under the terms of this Policy and the written procedures established by the Chief Financial Officer. The written procedures should address: delegation of authority to subordinate staff members, control of collusion, separation of transaction authority from accounting and record keeping, written confirmations of transactions, reconciliation of custody statements, and wire transfer procedures and agreements. An independent analysis by an external auditor shall be conducted annually to review internal control, account activity, and compliance with policies and procedures. XI. Authorized Broker --Dealers and Financial Institutions The Chief Financial Officer shall maintain a list of authorized broker}dealers and financial institutions which are approved for investment purposes. It shall be the Commission's 1 Revised December 148, 20224 687 policy to purchase securities only from those authorized institutions and firms (unless purchased directly from the issuer). Separate lists shall be maintained for broker,}dealers and financial institutions approved for repurchase agreements and those approved for the purchase of other securities. If an investment advisor is used, they may use their own list of approved broker_/dealers and financial institutions for investment purposes. To be eligible, a firm must meet the following minimum criteria: (i) an institution licensed by the state as a broker -dealer (as defined in Section 25004 of the Corporations Code), or from a member of a federally regulated securities exchange, from a national or state - chartered bank, from a savings association or federal federal or state association (as defined by Section 5102 of the Financial Code), or from a brokerage firm designated as a primary government dealer by the Federal Reserve bank; and (ii) all broker:/dealer firms and individuals must be properly registered with the FINRANASD and/or SEC to transact business in the relevant geographic locations and product sectors. In addition, counterparties for Repurchase Agreements shall be limited to primary government securities dealers rated "A" or better by two NRSROs. Counterparties shall also have (i) a short-term credit rating of at least P-1/A-1/or F-1; (ii) minimum assets and capital size of $25 billion in assets and $350 million in capital; (iii) five years of acceptable audited financial results; and (iv) a strong reputation among market participants. The Chief Financial Officer shall select broker}dealers and other financial institutions on the basis of the firm's expertise and creditworthiness. The Commission shall annually send a copy of the current investment policy to all securities professionalsd Iers approved to do business with the Commission. Each broker/deolersecurities professional,-e-rfinancial institution, or any other consultant providing investment advice, as determined in the sole discretion of the Executive Director or designee, that has been authorized by the Commission shall be required to submit and annually update a Broker/Dealer Questionnaire which includes the firm's most recent financial statements. The Chief Financial Officer shall maintain a file for each firm approved for investment purposes, which includes the most recent Broker/D iler Questionnaire. XII. Safekeeping and Custody To protect the Commission's assets, all securities owned by the Commission shall be held in safekeeping in the Commission's name by a third party bank trust department, acting as agent for the Commission under the terms of a custody agreement executed by the bank and the Commission. All securities will be received and delivered using standard delivery versus payment (DVP) procedures; the Commission's safekeeping agent will only release payment for a security after the security has been properly delivered. Physical delivery securities shall be avoided whenever possible, as book entry securities are much easier to transfer and account for since actual delivery of a document never takes 1 Revised December 148, 20224 688 place. In addition, delivered securities must be properly safeguarded against loss or destruction. The potential for fraud and loss increases with physically delivered securities. XIII. Ethics and Conflicts of Interest The Commission adopts the following policy concerning conflicts of interest: 1. Officers and employees involved in the investment process shall refrain from personal business activity that could conflict with proper execution of the investment program or which could impair their ability to make impartial investment decisions. 2. Officers and employees involved in the investment process shall disclose any material financial interest in any financial institution that conducts business with the Commission, and they shall further disclose any large personal financial/investment positions that could be related to the performance of the Commission's portfolio. 3. Officers shall refrain from undertaking personal investment transactions with the same individual with whom business is conducted on behalf of the Commission. XIV. Investment Policy Review The Chief Financial Officer shall annually render to the Commission a statement of investment policy, which the Commission must consider at a public meeting. Any changes to the policy shall also be considered by the Commission at a public meeting. 1 Revised December 148, 20224 689 ATTACHMENT 3 NM Riverside County Transportation (ommission INVESTMENT POLICY I. Introduction The purpose of this document is to identify policies and procedures that enhance opportunities for a prudent investment program and to organize and formalize investment -related activities. II. Scope It is intended that this Policy cover all funds (except retirement funds) and investment activities under the direction of the Commission serving as the Riverside County Transportation Commission's governing board. Investment activities may be classified between operating and bond/debt portfolios. III. Delegation of Authority The Commission's management responsibility for the investment program is hereby delegated for a one-year period to the Executive Director who shall monitor and review all investments for consistency with this investment policy. Subject to review, the Commission may renew the delegation of authority pursuant to this section each year. The Executive Director may delegate these duties to a designee ("Chief Financial Officer"). The Commission may delegate its investment decision making and execution authority to an investment advisor. The advisor shall follow this Policy and such other written instructions as are provided. IV. Prudence All persons authorized to make investment decisions on behalf of the Commission are subject to the prudent investor standard. Investments shall be made with care, skill, prudence and diligence under circumstances then prevailing, including, but not limited to, the general economic conditions and the anticipated needs of the Commission that a prudent person acting in a like capacity and familiarity with those matters would use in the conduct of funds of a like character and with like aims, to safeguard the principal and maintain the liquidity needs of the Commission. Authorized individuals acting in accordance with this Policy and written procedures and exercising due diligence shall be relieved of personal responsibility for an individual Revised December 14, 2022 690 security's credit risk or market price changes, provided deviations from expectations are reported in a timely fashion. V. Objective The Commission's primary investment objectives, in priority order, shall be: 1. Safety. Safety of principal is the foremost objective of the investment program. Investments of the Commission shall be undertaken in a manner that seeks to ensure preservation of capital in the portfolio. 2. Liquidity. The investment portfolio of the Commission will remain sufficiently liquid to enable the Commission to meet its cash flow requirements. 3. Return on Investment. The investment portfolio of the Commission shall be designed with the objective of maximizing return on its investments, but only after ensuring safety and liquidity. The Commission may from time to time sell securities that it owns in order to better reposition its portfolio assets in accordance with updated cash flow schedules, yield opportunities existing between market sectors, or simply market timing. VI. Investments California Government Code Section 53601 governs the investments permitted for purchase by the Commission. Within the investments permitted by Code, the Commission seeks to further restrict eligible investments to the investments listed in Section VI.1 below. Percentage limitations, where indicated, apply at the time of purchase. Percentage holdings with any one non-U.S. Government issuer or non -Federal Agency issuer are further restricted to a maximum of 10% (direct and indirect commitments), except as otherwise noted. Rating requirements where indicated, apply at the time of purchase. In the event a security held by the Commission is subject to a rating change that brings it below the minimum specified rating requirement, the Chief Financial Officer shall be authorized to act immediately and to notify the Commission of any actions taken in regards to the security. The course of action to be followed will then be decided on a case -by -case basis, considering such factors as the reason for the rating drop, prognosis for recovery or further rating drops, and the market price of the security. Revised December 14, 2022 691 1. Eligible Investments A. U.S. Government Issues. United States Treasury notes, bonds, bills, or certificates of indebtedness, or those for which the faith and credit of the United States are pledged for the payment of principal and interest. B. Federal Agency Securities. Federal agency or United States government - sponsored enterprise obligations, participations, or other instruments, including those issued by or fully guaranteed as to principal and interest by federal agencies or United States government -sponsored enterprises. C. Supranational Obligations. Obligations issued, or unconditionally guaranteed, by the following supranational institutions: 1. International Bank for Reconstruction and Development; and 2. International Finance Corporation. Such securities must have a maximum maturity of four (4) years and ratings from at least one Nationally Recognized Statistical Rating Organization (NRSRO) as follows: at least "Aa/AA/or AA" which denotes "Aa2" by Moody's Investors Service (Moody's), or "AA" by S&P Global Ratings (S&P), or "AA" by Fitch Ratings (Fitch); or as otherwise approved by the Commission. Investments in supranational obligations are limited to a maximum of 20% of Commission funds with no more than 10% of funds invested in any one supranational institution. D. Municipal Bonds. Registered treasury notes or bonds of any of the other 49 United States, in addition to California, payable solely out of the revenues from a revenue - producing property owned, controlled, or operated by a state or by a department, board, agency or authority of any of the other 49 United States, in addition to California. Such securities must have a maximum maturity of five (5) years and ratings from at least one NRSRO as follows: at least "A1/A+/or A+"; or as otherwise approved by the Commission. Registered general obligation treasury notes or bonds of any of the 50 United States. Such securities must have a maximum maturity of five (5) years and ratings from at least one NRSRO as follows: at least "A1/A+/or A+" or as otherwise approved by the Commission. Taxable or tax-exempt bonds, notes, warrants, or other evidences of indebtedness of any local agency within the State of California with a maximum maturity of five (5) years and ratings from at least one NRSRO Revised December 14, 2022 692 as follows: at least "A1/A+/or A+" (the minimum rating shall apply to the local agency, irrespective of any credit enhancement), including bonds, notes, warrants, or other evidences of indebtedness payable solely out of the revenues from a revenue -producing property owned, controlled, or operated by either the local agency, a department, board, agency, or authority of the local agency, or of any local agency within this state. Investments in municipal bonds are further limited to 25% of the Commission's funds. E. Tri-Party Repurchase Agreements. Tri-party repurchase agreements are to be used solely as short-term investments not to exceed 30 days. The Commission may enter into tri-party repurchase agreements with primary government securities dealers rated "A" or better by two NRSROs. Counterparties should also have (i) a short-term credit rating of at least P - 1/A -1/ or F-1; (ii) minimum assets and capital size of $25 billion in assets and $350 million in capital; (iii) five years of acceptable audited financial results; and (iv) a strong reputation among market participants. The following collateral restrictions will be observed: Only U.S. Treasury securities or Federal Agency securities, as described in V.1 A and B, will be acceptable collateral. All securities underlying tri-party repurchase agreements must be delivered to the Commission's custodian or fiscal agent bank versus payment or be handled under a properly executed tri- party repurchase agreement. The total market value of all collateral for each tri-party repurchase agreement must equal or exceed 102% of the total dollar value of the money invested by the Commission for the term of the investment. For any tri-party repurchase agreement with a term of more than one day, the value of the underlying securities must be reviewed on an on -going basis according to market conditions. Market value must be calculated each time there is a substitution of collateral. The Commission or its trustee shall have a perfected first security interest under the Uniform Commercial Code in all securities subject to tri-party repurchase agreement. The Commission shall have properly executed a PSA agreement with each counterparty with which it enters into tri-party repurchase agreements. F. U.S. Corporate Debt. Medium -term notes, defined as all corporate and depository institution securities with a maximum remaining maturity of five (5) years or less, issued by corporations organized and operating within the United States or depository institutions licensed by the United States or any state and operating within the United States. Eligible investment shall be rated at least "A1/A+/ or A+" by at least one NRSRO. Revised December 14, 2022 693 Investments in U.S. Corporate Debt are further limited to 25% of the Commission's funds. G. Commercial Paper. Commercial paper rated in the highest category by one or more nationally recognized statistical rating organization (NRSRO). The entity that issues the commercial paper shall meet all of the following conditions in either paragraph (1) or paragraph (2): (1) The entity meets the following criteria: (A) Is organized and operating in the United States as a general corporation. (B) Has total assets in excess of five hundred million dollars ($500,000,000). (C) Has debt other than commercial paper, if any, that is rated "A" or higher by at least one NRSRO. (2) The entity meets the following criteria: (A) Is organized within the United States as a special purpose corporation, trust, or limited liability company. (B) Has program -wide credit enhancements, including, but not limited to, over collateralization, letters of credit, or surety bond. (C) Has commercial paper that is rated at least "P-1/A-1/or F-1", or the equivalent, by at least one NRSRO. Purchases of eligible commercial paper may not exceed 270 days maturity nor represent more than 10% of the outstanding paper of an issuing corporation. Investments in commercial paper are limited to a maximum of 25% of the Commission's funds. H. Banker's Acceptances. Banker's acceptances issued by domestic or foreign banks, which are eligible for purchase by the Federal Reserve System. Purchases of banker's acceptances may not exceed 180 days maturity. Eligible banker's acceptances are restricted to issuing financial institutions with short-term paper rated in the highest category by one or more nationally recognized rating service. Investments in banker's acceptances are further limited to 40% of the Commission's funds with no more than 30% of the Commission's funds invested in the banker's acceptances of any one commercial bank. I. Money Market Mutual Funds. Shares of beneficial interest issued by diversified management companies that are money market funds registered with the Securities and Exchange Commission under the Investment Company Act of 1940 (15 U.S.C. Sec. 80a-1, et seq.) and that invest solely in U.S. treasuries, obligations of the U.S. Treasury, and repurchase agreements relating to such treasury obligations. The Commission may invest in shares of beneficial interest issued by a company that shall have met either of the following criteria: (1) Attained Revised December 14, 2022 694 the highest ranking or the highest letter and numerical rating provided by not less than two nationally recognized rating services. (2) Retained an investment adviser registered or exempt from registration with the Securities and Exchange Commission with not less than five years' experience managing money market mutual funds with assets under management in excess of five hundred million dollars ($500,000,000). The purchase price of shares of beneficial interest purchased pursuant to this subdivision shall not include any commission that the companies may charge. Investments in Money Market Mutual Funds are further limited to 20% of the Commission's funds. J. Riverside County Pooled Investment Fund ("RCPIF"). The Commission may invest in the Riverside County Pooled Investment Fund. As on -going due diligence, the Chief Financial Officer shall obtain the information listed below: • A description of eligible investment securities and a written statement of investment policy. • A description of the interest calculation, the frequency of interest distributions, and the treatment of gains and losses in the portfolio. • A description of how often the securities are priced, how the securities are safeguarded, and the audit arrangements. • A description of who may invest in the program, how often they may invest, and what size deposits and withdrawals are allowed. • A schedule for receiving statements and portfolio listings. • A fee schedule, and when and how fees are assessed. • The composition of the investment fund for each reporting period. K. State of California Local Agency Investment Fund ("LAIF"). The Commission may invest in LAIF. As on -going due diligence, the Chief Financial Officer shall obtain the information listed below: • A description of eligible investment securities and a written statement of investment policy. • A description of the interest calculation, the frequency of interest distributions, and the treatment of gains and losses in the portfolio. • A description of how often the securities are priced, how the securities are safeguarded, and the audit arrangements. • A description of who may invest in the program, how often they may invest, and what size deposits and withdrawals are allowed. Revised December 14, 2022 695 • A schedule for receiving statements and portfolio listings. • A fee schedule, and when and how fees are assessed. • The composition of the investment fund for each reporting period. L. Certificates of Deposit. Negotiable Certificates of Deposit (NCD's): NCDs are money market instruments issued by a bank. They specify that a sum of money has been deposited, payable with interest to the bearer of the certificates on a certain date. NCDs are issued by nationally or state chartered bank or state or federal savings and loan association. All purchases must be from institutions rated the highest letter and number rating (e.g., P-1/A-1/or F- 1) as provided for by at least one NRSRO, as designated by the U.S. Securities and Exchange Commission. The maturity of NCDs shall not exceed one (1) year to maturity, and purchases of NCDs shall not exceed 30% of the Commission's investment portfolio. NCDs shall be evaluated in terms of the creditworthiness of the issuing institution, as these deposits are uninsured and uncollateralized promissory notes. FDIC -insured Certificates of Deposit: The principal amount of the investment must be federally insured through the Federal Deposit Insurance Corporation (FDIC). No more than the prevailing FDIC insured coverage amount may be invested with any one deposit. Certificates of Deposit placed through the Certificate of Deposit Account Registry Service (CDARS) shall be considered fully insured, assuming that the total amount invested with any participating bank is limited to the prevailing FDIC insured coverage amount. Interest on the principal must be paid to the Commission at least annually. The placement of Certificates of Deposit with local banks that qualify in accordance with Government Code section 53601(h) is encouraged. The Commission, at its discretion, may invest a portion of its funds in certificates of deposit at a commercial bank, savings bank, savings and loan association, or credit union using a private sector entity to assist in the placement of such certificates, provided that it complies with Government Code Section 53601.8. Such investments may not exceed in total 20% of the Commission's funds invested pursuant to Government Code Sections 53601.8, 53635.8 and 53601, and shall have a maximum maturity of one (1) year from the date of the deposit. Collateralized Certificates of Deposit: For investments exceeding $100,000, there will be a waiver of collateral for the first $100,000 deposited and protected by FDIC insurance. The remainder of the deposit shall be fully collateralized by U.S. Treasury and Federal Agency securities having maturities less than five years. The Commission must receive written confirmation that these securities have been pledged in Revised December 14, 2022 696 repayment of the time deposit. The securities pledged as collateral must have a current market value greater than the dollar amount of the deposit in keeping with the ratio requirements specified in Section 53652 of the Government Code. Additionally, a statement of the collateral shall be provided to the Commission on a monthly basis. Such investments may not exceed in total 15% of the Commission's funds invested pursuant to Government Code Sections 53601.8, 53635.8 and 53601, and shall have a maximum maturity of one (1) year from the date of the deposit. M. Time Deposits. Federal Deposit Insurance Corporation insured money market savings accounts or time deposits which are deposited through depository institutions which are participants of the Money Market Insured Deposit Account Service ("MMIDAS"). N. Mortgage and Asset -backed Securities. Any mortgage pass -through security, collateralized mortgage obligation, mortgage -backed or other pay -through bond, equipment lease -backed certificate, consumer receivable -backed bond of a maximum maturity of five (5) years. Securities eligible for investment under this subdivision shall be issued by an issuer and rated at least "A3/A-/or A-" for the issuer's debt as provided by at least one NRSRO and rated in the rating category of "AAA" or its equivalent (excluding U.S. Government/Agency-backed structured products which will be permitted with their prevailing ratings even if those ratings are below the rating category of "AAA") by at least one NRSRO. Purchase of these securities may not exceed 10% of the Commission's operating investment portfolio. 2. Eligible Investments for Bond Proceeds Bond proceeds shall be invested in securities permitted by the applicable bond documents. If the bond documents are silent as to permitted investments, bond proceeds will be invested in securities permitted by this Policy. With respect to maximum maturities, the Policy authorizes investing bond reserve fund proceeds beyond the five (5) years if prudent in the opinion of the Chief Financial Officer. 3. Ineligible Investments The Commission shall not invest any funds in the types of securities as provided in California Government Code Section 53601.6. Revised December 14, 2022 697 The purchase of any security not listed in Section VI.]. above, but permitted by the California Government Code, is prohibited unless the Commission approves the investment either specifically or as a part of an investment program approved by the Commission. VII. Maximum Maturities Maturities of investments will be selected to provide necessary liquidity, minimize interest rate risk, and maximize earnings. Current and expected yield curve analysis will be monitored and the portfolio will be invested accordingly. Because of inherent difficulties in accurately forecasting cash flow requirements, a portion of the portfolio should be continuously invested in readily available funds. Where this Policy does not specify a maximum remaining maturity at the time of the investment, no investment shall be made in any security, other than a security underlying a repurchase or reverse repurchase agreement authorized by this section, that at the time of the investment has a term remaining to maturity in excess of five (5) years. VIII. Performance Standards The Chief Financial Officer shall continually monitor and evaluate the portfolio's performance. IX. Reporting The Executive Director or designee shall prepare and provide to the Commission a monthly report, within 30 days following the end of the month, which includes the following information: • Type of investment; • Issuer name; • Date of maturity; • Dollar amount invested in all securities, and investments and monies held by the local agency; • A description of the funds, investments, and programs (including lending programs) managed by contracted parties; • Current market value of securities; • A statement of compliance with the investment policy or an explanation for non-compliance; and • A statement denoting the ability of the Commission to meet its liquidity requirements for the next six months, or provide an explanation as to why sufficient money, shall or may not be available. Revised December 14, 2022 698 X. Investment Procedures The Chief Financial Officer, as the Commission's designee, is responsible for ensuring compliance with the Commission's investment policies and establishing written procedures and internal controls for the operation of the investment program. No person may engage in investment transactions except as provided under the terms of this Policy and the written procedures established by the Chief Financial Officer. The written procedures should address: delegation of authority to subordinate staff members, control of collusion, separation of transaction authority from accounting and record keeping, written confirmations of transactions, reconciliation of custody statements, and wire transfer procedures and agreements. An independent analysis by an external auditor shall be conducted annually to review internal control, account activity, and compliance with policies and procedures. XI. Authorized Broker -Dealers and Financial Institutions The Chief Financial Officer shall maintain a list of authorized broker -dealers and financial institutions which are approved for investment purposes. It shall be the Commission's policy to purchase securities only from those authorized institutions and firms (unless purchased directly from the issuer). Separate lists shall be maintained for broker -dealers and financial institutions approved for repurchase agreements and those approved for the purchase of other securities. If an investment advisor is used, they may use their own list of approved broker -dealers and financial institutions for investment purposes. To be eligible, a firm must meet the following minimum criteria: (i) an institution licensed by the state as a broker -dealer (as defined in Section 25004 of the Corporations Code), or from a member of a federally regulated securities exchange, from a national or state - chartered bank, from a savings association or federal association (as defined by Section 5102 of the Financial Code), or from a brokerage firm designated as a primary government dealer by the Federal Reserve bank; and (ii) all broker -dealer firms and individuals must be properly registered with the FIN RA and/or SEC to transact business in the relevant geographic locations and product sectors. In addition, counterparties for Repurchase Agreements shall be limited to primary government securities dealers rated "A" or better by two NRSROs. Counterparties shall also have (i) a short-term credit rating of at least P-1/A-1/or F-1; (ii) minimum assets and capital size of $25 billion in assets and $350 million in capital; (iii) five years of acceptable audited financial results; and (iv) a strong reputation among market participants. The Chief Financial Officer shall select broker -dealers and other financial institutions on the basis of the firm's expertise and creditworthiness. The Commission shall annually send a copy of the current investment policy to all securities professionals approved to do business with the Commission. Each securities professional, financial institution, or Revised December 14, 2022 699 any other consultant providing investment advice, as determined in the sole discretion of the Executive Director or designee, that has been authorized by the Commission shall be required to submit and annually update a Questionnaire which includes the firm's most recent financial statements. The Chief Financial Officer shall maintain a file for each firm approved for investment purposes, which includes the most recent Questionnaire. XII. Safekeeping and Custody To protect the Commission's assets, all securities owned by the Commission shall be held in safekeeping in the Commission's name by a third party bank trust department, acting as agent for the Commission under the terms of a custody agreement executed by the bank and the Commission. All securities will be received and delivered using standard delivery versus payment (DVP) procedures; the Commission's safekeeping agent will only release payment for a security after the security has been properly delivered. Physical delivery securities shall be avoided whenever possible, as book entry securities are much easier to transfer and account for since actual delivery of a document never takes place. In addition, delivered securities must be properly safeguarded against loss or destruction. The potential for fraud and loss increases with physically delivered securities. XIII. Ethics and Conflicts of Interest The Commission adopts the following policy concerning conflicts of interest: 1. Officers and employees involved in the investment process shall refrain from personal business activity that could conflict with proper execution of the investment program or which could impair their ability to make impartial investment decisions. 2. Officers and employees involved in the investment process shall disclose any material financial interest in any financial institution that conducts business with the Commission, and they shall further disclose any large personal financial/investment positions that could be related to the performance of the Commission's portfolio. 3. Officers shall refrain from undertaking personal investment transactions with the same individual with whom business is conducted on behalf of the Commission. XIV. Investment Policy Review The Chief Financial Officer shall annually render to the Commission a statement of investment policy, which the Commission must consider at a public meeting. Any changes to the policy shall also be considered by the Commission at a public meeting. Revised December 14, 2022 700 RIVERSIDE COUNTY TRANSPORTATION COMMISSION ANNUALINVESTMENTPOUCY Sergio Vidal, Chief Financial Officer December Commission Meeting December 14, 2022 RIVERSIDE COUNTY TRANSPORTATION COMMISSION ANNUALINVESTMENTPOUCY Primary Objectives: • Safety of Principal • Sufficient Liquidity • Maximize Return on Investments RIVERSIDE COUNTY MNRSglrotTION ANNUA L I N V ENT U Y � C Background: • Reviewed relevant Government Code Sections related to Investments • Received feedback from Securities Professionals who manage Commission Funds • Consulted with Legal Counsel RIVERSIDE COUNTY MNRSglrotTION ANNUA L 1 N V ENTPOU Y C Proposed changes to the policy: • Administrative changes: • In accordance with the government code section • Expansion of third -parties who are subject to due diligence provisions • Minor language updates • Reporting: • Provide a monthly staff report to the Commiss RIVERSIDE COUNTY TRANSPORTATION COMMISSION Itemsfor Consideration: submission of Reports NEXTSii±'S • Approve the revised annual Investment Policy • Adopt Resolution No. 22-020 "Resolution of the Riverside County Transportation Commission Regarding the Revised Investment Policy" • December 2022 investment report submitted for the January / February Commission cycle RIVERSIDE COUNTY TRANSPORTATION COMMISSION 1HANKYOU QUES110NS AGENDA ITEM 8 RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: December 14, 2022 TO: Riverside County Transportation Commission FROM: Budget and Implementation Committee David Knudsen, External Affairs Director THROUGH: Anne Mayer, Executive Director SUBJECT: 2023 State and Federal Legislative Platform and Legislative Update BUDGET AND IMPLEMENTATION COMMITTEE AND STAFF RECOMMENDATION: This item is for the Commission to: 1) Adopt the Commission's 2023 State and Federal Legislative Platform; and 2) Receive and file a state and federal legislative update. BACKGROUND INFORMATION: Draft 2023 State and Federal Legislative Platform The Commission annually adopts a legislative platform that serves as the framework for policy positions the Commission will take on various pieces of legislation, administrative policies, and regulations. The platform addresses broad themes that are critical in both Sacramento and Washington, D.C. These platform points allow staff, Commissioners, and the Commission's lobbyists to communicate in a timely, effective manner with state and federal agencies and elected representatives as issues arise. The proposed 2023 State and Federal Legislative Platform builds on previously adopted Commission platforms. Recommended adjustments to the 2022 Commission -adopted platform are based on lessons learned from the 2021-2022 state legislative session, including the introduction of Assembly Bill (AB) 1778 (Cristina Garcia), AB 2237 (Friedman), AB 2438 (Friedman), and transportation policies like the California Action Plan for Transportation Infrastructure (CAPTI) and California Transportation Assessment Report pursuant to AB 285 (Friedman). Adjustments include: • Ensuring that regions like Riverside County with growing diverse populations priced out from coastal urban centers receive their fair share of state and federal funding resources, as well as due flexibility and variance in policy implementation; • Opposing implementation measures associated with climate action goals if they hinder a just transition to multimodal transportation systems in Riverside County; Agenda Item 8 701 • Supporting multimodal transit projects that promote equitable access through geographic reach and service frequency, commuter and mobility choice, and environmental sustainability, as well as maximizes regional competitiveness for state and federal funding; • Supporting environmental streamlining of multimodal transit projects and safety improvements on road and highways; and • Recognizing work already being done to incorporate active transportation improvements into other projects, such as interchange improvements. In addition, it is necessary for the Commission to underscore its support for environmental sustainability, wildlife connectivity, and air quality improvement measures consistent with RCTC's mission. Staff also spent time reorganizing the platform format for a more readable document. Clarifying edits included moving provisions in the platform to more appropriate sections, updating wording to better reflect current policy, and removing duplicative issue areas. These changes are not intended to alter RCTC's core policy goals, initiatives, or values, including: • Opposing any mandates that could nullify RCTC priorities; • Supporting the Commission's independent authority and decision -making; and • Ensuring the project delivery of the voter -approved Measure A expenditure plan. The proposed 2023 State and Federal Legislative Platform is attached, with track changes, to highlight additions and deletions from the adopted 2022 version. Coachella Valley Rail Following the successful Coachella Valley Rail (CV Rail) advocacy trip to Washington, D.C. this past September, RCTC requested a meeting with California State Transportation Secretary Toks Omishakin to outline the Commission's efforts and future vision for passenger rail service to the Coachella Valley. Secretary Omishakin and CaISTA's Chief Deputy Secretary for Rail and Transit, Chad Edison, met with RCTC Chair V. Manuel Perez, Commissioner Lisa Middleton, and staff on November 2, 2022. Both officials offered strong support for CV Rail and RCTC's project goals. RCTC is seeking $20 million in funding from the federal Consolidated Rail Infrastructure and Safety Improvements (CRISI) grant program to help fund and complete the Tier 2 project -level environmental studies for CV Rail. After the Commission unanimously certified the Tier 1 program -level environmental document in July, RCTC and Caltrans immediately began seeking the necessary funding to complete the Tier 2 studies, including an analysis of detailed engineering and environmental topics, helping to move the project closer to construction. Tier 2 will cost approximately $60 million to complete. RCTC and Caltrans will submit the CV Rail CRISI application by the December 1, 2022 deadline. Agenda Item 8 702 Federal Update Congress continues to work on appropriations bills to fund federal programs for Federal Fiscal Year 2023. There is a Continuing Resolution (CR) in place that provides funding for the federal government through December 16th. To date, Congress has not yet passed any of the 12 appropriations bills and will be unable to do so until there is a budget agreement that sets spending levels for defense and non -defense discretionary programs. It is unclear at this time if such a budget agreement can be reached prior to December 16 or if another CR will be needed to avoid a federal government shutdown. Congress may also try and address several other items before adjourning for the year, including. authorization of defense programs, additional disaster relief and aid to Ukraine, and raising the debt ceiling. The midterm elections have resulted in a change of control in the House of Representatives. This change will mean new leaders on House Committees that handle transportation issues. It is expected that both the House and Senate will continue to conduct oversight hearings on the Infrastructure Investment and Jobs Act during the next Session of Congress. FISCAL IMPACT: This is a policy and information item. There is no fiscal impact. Attachments: 1) Draft 2023 Legislative Platform — Redline version 2) Draft 2023 Legislative Platform — Edits accepted version 3) State and Federal Update Legislative Matrix - November 2022 Approved by the Budget and Implementation Committee on November 28, 2022 In Favor: 11 Abstain: 0 No: 0 Agenda Item 8 703 ATTACHMENT 1 RIVERSIDE COUNTY TRANSPORTATION COMMISSION OBJECTIVE: The 20232. State and Federal Legislative Platform serves as the framework that will guide Riverside County Transportation Commission's (RCTC or Commission)Ls advocacy efforts for state and federal policy and funding decisions that enable Riverside County Transportationthe Commission {RCTC) to: implement Measure A, the Regional Transportation Plan (RTP), and adopted plans and programs; comply with state and federal requirements; and provide greater mobility, equitable access, improved quality of life, operational excellence, and economic vitality in Riverside County. RCTC's State and Federal Legislative Platform offers positions on key policy issues which are likely to be the focus in the next legislative and congressional sessions. Equity and Fairness • Ensure that rural, low: -income, and disadvantaged communities in Riverside County benefit from equity -based transportation planning and implementation policies. • State and federal funding should be distributed equitably to Riverside County. This includes core formula funding as well as supplemental distributions. • Governance structures should ensure equitable representation and decision -making authority is provided to Riverside County. • Policies should be implemented recognizing regional variance by distinguishing high -growth regions for their impact on the economy, environment, and should be dynamic in order to address current and future population growth, including low-income and disadvantaged communities priced out of coastal urban centers. • Engage in policy discussions regarding the way public outreach and public meetings are conducted by public agencies. Regional Control • Project selection and planning authority for state/federal funds should be as local as possible, preferably in the hands of the Commission. • State and federal rulemakings, administrative processes, program guidelines, and policy development activities should include meaningful collaboration from regional transportation agencies. • Oppose efforts by non -transportation interests to assert control over transportation funding and decision -making. • Policies should be sensitive to each region's unique needs and avoid "one size fits all" assumptions, over -reliance on e+ single modes of transportation that would disadvantage regional mobility, and lack of distinction between urban, suburban, and rural needs. • State and federal policies should align authority to select projects, manage performance, and should recognize mandates and responsibilities placed upon regional and local governments. Protect Our Authority and Revenue • Existing statutory authorities for the Commission should be preserved and protected. • Oppose efforts to infringe on the Commission's discretion in collecting and administering its revenue sources including, but not limited to: Measure A, tolls, and TUMF. 704 • Oppose efforts to place mandates on agencies which could nullify RCTC priorities bywould drivinge up operating costs and thereby reducine the amount of funds available to deliver mobility improvements which could nullify RCTC priorities. • Oppose efforts to remove or reduce tax exemption on municipal bond interest to avoid increased costs to financed projects. • Reinstate advanced Support the ability to issue tax exempt refunding of municipal bond authoritys. • Oppose legislation that restructures or interferes with governance of the Commission or other local and regional transportation agencies without the support and consent of the entity affected. • Oppose legislation that amends procurement law in a manner that increases the Commission's exposure to litigation, costs, decreased private sector competition, conflicts of interest, or deviation from best practices. • Support efforts to preserve, stabilize, leverage and/or increase funding for transportation. • Ensure the Commission receives maximum sales tax collections resulting from implementation of the Wayfair Supreme Court Decision relative to state sales taxes on internet sales or any other change in policy. Innovation • Support implementation and expansion of U.S. Department of Transportationstate and federal initiatives to expedite and advance innovative transportation policies, programsi_and technologies. Project Delivery Streamlining • Support all efforts to reduce project delivery timelines and provide flexibility to meet planning requirements due to changing circumstances, while maintaining important environmental protections. • Support the availability of project delivery tools such as the design -build project delivery method, construction manager/general contractor (CM/GC, or construction manager at -risk) project delivery method, and public -private partnerships to the Commission, the State, federal agencies, and other infrastructure agencies. Oppose efforts to add barriers to effective implementation of such tools. •—Support the simplification of SB 743 Steinberg (Chapter 386, Statutes of 2013) VMT modeling and analysis for highway projects. • • Support reciprocity of the California Environmental Quality Act (CEQA) for the National Environmental Protection Act (NEPA). •—Support removing the statutory sunset on the NEPA Assignment program California participates in with the Federal Highway Administration which continues to benefit Commission projects._ • Engage with the California Department of Transportation (Caltrans) and U.S. Department of Transportation to allow the State and the Commission to participate in the NEPA reciprocity pilot program.Support further efforts to streamline the federal environmental project approval processes and provide flexibility to meet planning requirements due to changing circumstances. • Support creation of a low -interest loan program to support habitat conservation plans that mitigate the impacts of transportation infrastructure and make project approvals more efficient. • Support efforts to modernize the CEQA, including but not limited to: o Reduce the Commission's exposure to litigation; o Increase accountability and disclosure for plaintiffs in CEQA cases; o Limit courts' ability to invalidate an entire CEQA document when a writ of mandate can resolve discreet issues; o Exempt illegal actions from CEQA review; and 705 o Prohibit "document dumping "- 0 • Support categorical exclusions for multimodal transit projects and for safety improvements on roads and highways. Accountability • Revenue derived from transportation sources should be spent exclusively on planning, development, and implementation of transportation projects. Support measures to strengthen the relationship between transportation revenue and expenditures; oppose measures that weaken them. • Support efforts to ensure that all projects in a voter -approved sales tax measure expenditure plan are delivered to the public. • Encourage the adoption of on -time, balanced state budgets, and federal appropriation and authorization legislation to ensure transportation projects are delivered without delay or costly stoppages, and that adequate planning for future projects can take place. • Promote policies that ensure state and federal agencies have adequate funding in order to be responsive and accountable to Commission concerns when working on Commission projects. • Oppose efforts by non -elected, regulatory bodies to dilute, reduce, or withhold transportation funds. • Support maximum transparency by of funding agencies fn -through the clearrevealing scoring and evaluation of funding requests. Alignment of Responsibilities • Support strong collaborative partnerships with state and federal agencies. • Support local control and policies that reflect and recognizcincentivize self-help counties' continued funding contribution to transportation projects in California. Oppose policies that give outsized weight to minority funding partners. • Advocate that Cap aAd Trade revenues be expended in a manner that enables regions to meet greenhouse gas reduction goals in SB 375, AB 32, and SB 32. • Support policies that provide decision -making authority and flexibility to agencies bearing financial risk for projects. Oppose policies that place unfunded mandates and other undue burdens and restrictions on agencies that bear financial risk for projects. • Support efforts by the state and federal governmentss to improve maintenance and operations of the state highway and interstate systems. Oppose efforts to realign maintenance and operations costs and responsibilities to local or regional agencies. • Oppose efforts by state and federal governments to negate their obligation to maintain the state and federal highway systems, or otherwise realign those costs and responsibilities to local and regional agencies. • Oppose efforts by the state legislature to deflect responsibility for voting on revenue for statewide transportation to local voters. Environment • Encourage efforts to limit impacts to the climate, air quality, and habitats in a manner that promotes improved quality of life and equitable outcomes for residents of Riverside County, provided that these efforts are sufficiently funded and do not negatively impact the mission of RCTC. Climate Action and Air Quality 706 • Support a greater share of state greenhouse gas (GHG) reduction funds toward transportation investments to address the transportation sector's share of GHG emissions. • Ensure criteria for defining disadvantaged communities and environmental justice areas of concern accurately represent Riverside County and enable the region to compete for funding. • Oppose efforts to place new environmental criteria (such as GHG reduction or vehicle miles traveled reduction) on transportation projects and programs without commensurate funding for alternatives or mitigations. • Oppose legislative proposals or implementation measures (programming, funding, environmental review, etc.) associated with the Climate Action Plan for Transportation Infrastructure (CAPTI), Caltrans System Investment Strategy (CSIS), Executive Order N-19-19, Executive Order N-79-20, AB 32 Nunez (Chapter 488, Statutes of 2006), SB 375 Steinberg (Chapter 728, Statutes of 2008), SB 743 Steinberg (Chapter 386, Statutes of 2013), SB 32 Pavley (Chapter 249, Statutes of 2016), AB 1278 Muratsuchi (Chapter 337, Statutes of 2022), or other climate action goals that hinder a just transition to multimodal transportation systems in Riverside County. • Support alternative metrics to Vehicle Miles Traveled (VMT) that more accurately account for environmental impacts. Support use of per capita measurements when mitigating transportation sector impacts in growing regions. • Support efforts that allow transportation agencies to receive retroactive credit for VMT-reducing projects that have been recently delivered or are included in future delivery plans. • Oppose legislation to authorize a multicounty revenue measure for environmental programs if the measure is not required to: (1) provide equitable funding to Riverside County, and (2) be developed through formal consultation with the Commission before and after passage, and (3) involve the Commission in expenditure of funds within Riverside County related to transportation projects, programs, and services; or if such a measure would negatively impact the Commission's ability to achieve voter approval of local transportation revenue. Habitat Conservation • Support efforts or initiatives that expedite the approval of Habitat Conservation Plans or Special Area Management Plans, or support existing plans for transportation projects. • Support funding for projects and programs that promote wildlife connectivity, if resources are not redirected from other transportation funding programs. • Oppose legislation that limits the streamlining benefit of the Western Riverside County Multiple Species Habitat Conservation Plan or Coachella Valley Multiple Species Habitat Conservation Plan by impugning or duplicating requirements for analysis and remediation of impacts. Alternatives to Driving • Support the continued development of a multimodal transit system in Riverside County that promotes equitable access through geographic reach and service frequency, commuter and mobility choice, and environmental sustainability2 as well as maximizes regional competitiveness for state and federal funding. Support integration of public transportation systems in southern California. • Ridesharing • Support incentives to employers that enhance or create transit reimbursement or ridesharing programs. • Oppose new mandates on employers or transportation agencies that would result in disruption of 707 the Commission's ridesharing program. • Support programs and policies that invest in and foster new technologies that promote ridesharing, traffic information, and commuter assistance. • Support regional cooperation toward establishing transportation data standards and technological integrations. • Support rideshare and vanpool program eligibility for state and federal transit funding, such as the Transportation Development Act. Active Transportation • Support maximum regional control of project selection for funding of active transportation projects. • Support policies and programs that recognize when active transportation improvements are incorporated into other modal projects. Transit and Rail • Support all transit operators in Riverside County with legislative concerns impacting the operators' funding and operations. • Support efforts to provide flexibility of funding between capital and operating budgets from state/federal programs for transit agencies. • Support efforts to reevaluate transit performance measures in state and federal law. • Support policies and funding programs that promote the establishment or expansion of express bus service that utilizes the Riverside Express Lanes. • Support incentives for transit agencies that utilize alternative fuels and/or zero -emission buses. • Advocate for expeditious reviews and approvals for greenhouse gas reducing rail and transit projects. • Support efforts to provide for streamlined project deli„er„ for transit projects in Riverside County that fulfill the goals of AB 32 and SB 375, as well as other state and federal air quality mandate and mobility performance m asurcs. • Support additional funding for specialized transit programs within state and federal programs. • Support funding for vanpool and micro -transit programs, as well as efforts to classify these programs as transit operations/transit operators within state and federal programs. —Oppose additional zero emission bus transit unfunded mandates that would negatively impact the operating budgets of transit agencies. • Advocate for additional and more flexible state funding sources from the Cap and Trade Program. Passenger Rail • Support inclusion and prioritization of Coachella Valley -San Gorgonio Pass Rail service in the California State Rail Plan, Federal Corridor ID Program, and other state and federal planning and funding effortss and program pipelines. • Support legislation to better enable the Coachella Valley -San Gorgonio Pass Rail service to become part of California's intercity rail network, such as legislation to allow intercity rail joint powers authorities to expand their service areas. • Support efforts to secure state and federal funding for the Coachella Valley -San Gorgonio Pass Rail service project. • Support LOSSAN Rail Corridor Agency and Metrolink with legislative and regulatory concerns impacting funding and operations. • Support efforts to provide an equitable share of funding to Wwest Gcoast intercity rail systems as compared to the Northeast Corridor. 708 • Support Metrolink's policy and funding needs with regard to implementation of positive train control and other rail safety items. • Support Metrolink's SCORE implementation and encourage early SCORE investments in Riverside County. • Support efforts to prioritize high-speed rail funding for connectivity improvements to existing transit systems and infrastructure in California's urban areas. In particular, support all efforts to ensure that funding is provided as soon as possible to projects included in the Memorandum of Understanding (MOU) between the California High Speed Rail Authority (CHSRA), the Southern California Association of Governments (SCAG), and the Commission. • Ensure that the Commission's rights and interests in passenger rail in southern California are properly respected in state, federal, and regional plans and policies. Teleworking/Remote Working • Engage in policy discussions that utilize teleworking as a method to reduce traffic congestion and improve local economic and public health by permanently increasing the number of Riverside County residents who telecommute or work remotely. Tolling and Managed Lanes • Support legislation that ensures the full and accurate capture of toll revenues, to protect the Commission's debt and congestion management obligations. • Support legislation that authorizes toll agencies to pilot or deploy new technology to improve toll operations and mobility. • Support legislation and policies that strengthen existing statutory authority for connecting toll segments to be implemented in an adjacent county with approvals by both authorized counties. • Engage in legislation regarding privacy laws to ensure an appropriate balance between customer privacy, public safety, financial obligation, and practical operations is reasonably met. • Oppose legislation increasing the type and/or number of vehicles subject to free or reduced toll rates, to protect the Commission's debt and congestion management obligations, and to reduce operational costs and complexity. • Oppose state and federal policies which would dictate how tolling policy and rates are implemented on the Commission's tolled facilities. • Engage in policy discussions that may involve legislation or regulatory efforts that add statutory barriers to expanding the use of tolling. • Oppose policies that would dictate, limit use of, or create onerous requirements for utilizing surplus toll revenue. • Engage in legislation and monitor administrative policies relating to interoperability of business practices of tolled facilities statewide, regionally, and nationally, in order to ensure technical feasibility, efficient and effective operations, cost reasonableness, and customer satisfaction. • Support increased enforcement of managed lanes for improved travel time reliability and effective operation of express bus service. • Support policies that recognize the role of pricing and managed lanes as an integral part of multi - modal corridor mobility and achieving environmental goals. • Support initiatives and research that demonstrate the air quality improvements, VMT reduction, and economic benefits from the use of toll and managed lanes. flcxibilitics. Goods Movement 709 • Policies should recognize the impact of goods movement from the Ports of Los Angeles and Long Beach and the U.S.-Mexico border on Riverside County. • Support Congressional state and federal legislative action to continue dedicated funding for goods movement projects, inasmuch as the funding source: o Has a nexus to the user; o Does not reduce funding to existing highway and transit programs; o Provides funding to California, and southern California in particular, commensurate with this region and state's significance to interstate goods movement; and o Can be spent on grade separation projects. • Provide input to the National Freight Advisory Committee and California State Freight Advisory Committee. • Advocate for accurate representation of Riverside County in the Primary Freight Network or other national or statewide freight route designations. • Advocate for freight funding from state and federal sources to be distributed based on a regional consensus, in consultation with state and federal agency's freight plans. • Oppose increasing the capacity or intensity of freight movement in and near Riverside County without commensurate mitigation of impacts. • Support legislation to ensure that the Commission is eligible to seek federal goods movement and freight program discretionary grant funding. • Oppose policies that restrict the ability to deliver goods movement enhancements due to application of SB 743. Support efforts or initiatives that limit the liability of transportation projects for long term conservation or mitigation. Support efforts to incrq,ase the number of highway related improvements that qualify for Categorical Exclusions and Exemptions while remaining sensitive to environmental impacts. Projects .—Support programs and policies that advantage transportation projects in Riverside County. — including, but not limited to. • M asure A funded projects • Grade separations • Commuter rail -capital projects and operations • Intercity Rail Service to the Coachella Valley and San Gorgonio Pass • Local streets and road projects sponsored by the county and municipalities, • Active transportation projects • Expansion and rehabilitation of the state highway system • Interchanges • Safety enhancements • Mitigation of the impacts of goods movement • Connectivity to high speed rail • Connectivity to commercial airports • Tolled express lanes, tolled highways, and related infrastructure and technology • Projects included in the Traffic Relief Plan adopted in May 2020 T chnology p ;,,cts that manage freeway operations • Electric Vehicle charging infrastructure • Locally led bridge projects • Animal corssings • Oppose policies that inhibit the efficient, timely delivery of such projects. 710 Funding • Support continued testing and analysis of California's road charge pilot program as a potential replacement of the state motor fuels excise tax as the primary funding mechanism for transportation and ensure that both urban, suburban, and rural communities are treated in an equitable manner. • Monitor the federal government's pilot program to explore potential replacement mechanisms for the federal gasoline excise tax. • Support all efforts to maintain, at the very least, level state/federal funding for transportation programs. • Support re -dedication of California truck weight fees to transportation accounts. • Monitor legislation relating to tax collection for impacts on Measure A revenues or administration fees. • Support maximizing Commission flexibility and discretion over funding decisions. • Policies should be sensitive to each region's unique nccds and avoid "one size fits all" assumptions, over reliance on one mode of transportation, and lack of distinction between urban, suburban, and rural nccds. • Funding sources should be discretionary and distributed by population share to facilitate expeditious project delivery and expenditure of funds. • Support maintaining the legislative intent behind Senate Bill 1 (Statutes 2017) and historic base program funding, by: o Opposing efforts to tie distribution of transportation funding to ancillary policy matters, such as housing. o Opposing efforts to deviate from legislative intent and existing statute. o Supporting efforts to adjust formula allocations to maximize funding decisions being made as locally as possible. o Ensuring program guidelines are as broad as possible with respect to mode, to the extent appropriate while adhering to legislative intent. Regional Partnerships • Collaborate with regional transportation agencies to impact transportation funding and regulatory policies to bring equity and fairness to the Inland Empire region. • Collaborate with public and private sector stakeholders on policy and funding matters that enhance economic development and quality of life in the Inland Empire region. • Engage in legislative efforts impacting regional transportation agencies, particularly when the efforts have a nexus to the Commission. • Support implementation of projects in other counties that are contained in the Southern California Association of Governments RTP/Sustainable Communities Strategy when requested by other counties and not in conflict with the Commission's interests. 711 ATTACHMENT 2 RIVERSIDE COUNTY TRANSPORTATION COMMISSION OBJECTIVE: The 2023 State and Federal Legislative Platform serves as the framework that will guide Riverside County Transportation Commission's (RCTC or Commission) advocacy efforts for state and federal policy and funding decisions that enable the Commission to: implement Measure A, the Regional Transportation Plan (RTP), and adopted plans and programs; comply with state and federal requirements; and provide greater mobility, equitable access, improved quality of life, operational excellence, and economic vitality in Riverside County. RCTC's State and Federal Legislative Platform offers positions on key policy issues which are likely to be the focus in the next legislative and congressional sessions. Equity and Fairness • Ensure that rural, low-income, and disadvantaged communities in Riverside County benefit from equity -based transportation planning and implementation policies. • State and federal funding should be distributed equitably to Riverside County. This includes core formula funding as well as supplemental distributions. • Governance structures should ensure equitable representation and decision -making authority is provided to Riverside County. • Policies should be implemented recognizing regional variance by distinguishing high -growth regions for their impact on the economy, environment, and should be dynamic to address current and future population growth, including low-income and disadvantaged communities priced out of coastal urban centers. • Engage in policy discussions regarding the way public outreach and public meetings are conducted by public agencies. Regional Control • Project selection and planning authority for state/federal funds should be as local as possible, preferably in the hands of the Commission. • State and federal rulemakings, administrative processes, program guidelines, and policy development activities should include meaningful collaboration from regional transportation agencies. • Oppose efforts by non -transportation interests to assert control over transportation funding and decision -making. • Policies should be sensitive to each region's unique needs and avoid "one size fits all" assumptions, over -reliance on single modes of transportation that would disadvantage regional mobility, and lack of distinction between urban, suburban, and rural needs. • State and federal policies should align authority to select projects, manage performance, and should recognize mandates and responsibilities placed upon regional and local governments. Protect Our Authority and Revenue • Existing statutory authorities for the Commission should be preserved and protected. • Oppose efforts to infringe on the Commission's discretion in collecting and administering its revenue sources including, but not limited to: Measure A, tolls, and TUMF. 712 • Oppose efforts to place mandates on agencies which could nullify RCTC priorities by driving up operating costs and thereby reducing the amount of funds available to deliver mobility improvements. • Oppose efforts to remove or reduce tax exemption on municipal bond interest to avoid increased costs to financed projects. • Reinstate advanced refunding of municipal bond authority. • Oppose legislation that restructures or interferes with governance of the Commission or other local and regional transportation agencies without the support and consent of the entity affected. • Oppose legislation that amends procurement law in a manner that increases the Commission's exposure to litigation, costs, decreased private sector competition, conflicts of interest, or deviation from best practices. • Support efforts to preserve, stabilize, leverage and/or increase funding for transportation. • Ensure the Commission receives maximum sales tax collections resulting from implementation of the Wayfair Supreme Court Decision relative to state sales taxes on internet sales or any other change in policy. Innovation • Support implementation and expansion of state and federal initiatives to expedite and advance innovative transportation policies, programs, and technologies. Project Delivery Streamlining • Support all efforts to reduce project delivery timelines and provide flexibility to meet planning requirements due to changing circumstances, while maintaining important environmental protections. • Support the availability of project delivery tools such as the design -build project delivery method, construction manager/general contractor (CM/GC, or construction manager at -risk) project delivery method, and public -private partnerships to the Commission, the State, federal agencies, and other infrastructure agencies. Oppose efforts to add barriers to effective implementation of such tools. • Support the simplification of SB 743 Steinberg (Chapter 386, Statutes of 2013) VMT modeling and analysis for highway projects. • Support reciprocity of the California Environmental Quality Act (CEQA) for the National Environmental Protection Act (NEPA). • Support removing the statutory sunset on the NEPA Assignment program California participates in with the Federal Highway Administration which continues to benefit Commission projects. Engage with the California Department of Transportation (Caltrans) and U.S. Department of Transportation to allow the State and the Commission to participate in the NEPA reciprocity pilot program. • Support creation of a low -interest loan program to support habitat conservation plans that mitigate the impacts of transportation infrastructure and make project approvals more efficient. • Support efforts to modernize the CEQA, including but not limited to: o Reduce the Commission's exposure to litigation; o Increase accountability and disclosure for plaintiffs in CEQA cases; o Limit courts' ability to invalidate an entire CEQA document when a writ of mandate can resolve discreet issues; o Exempt illegal actions from CEQA review; and o Prohibit "document dumping." • Support categorical exclusions for multimodal transit projects and for safety improvements on roads and highways. 713 Accountability • Revenue derived from transportation sources should be spent exclusively on planning, development, and implementation of transportation projects. Support measures to strengthen the relationship between transportation revenue and expenditures; oppose measures that weaken them. • Support efforts to ensure that all projects in a voter -approved sales tax measure expenditure plan are delivered to the public. • Encourage the adoption of on -time, balanced state budgets, and federal appropriation and authorization legislation to ensure transportation projects are delivered without delay or costly stoppages, and that adequate planning for future projects can take place. • Promote policies that ensure state and federal agencies have adequate funding in order to be responsive and accountable to Commission concerns when working on Commission projects. • Oppose efforts by non -elected, regulatory bodies to dilute, reduce, or withhold transportation funds. • Support maximum transparency of funding agencies through the clear scoring and evaluation of funding requests. Alignment of Responsibilities • Support strong collaborative partnerships with state and federal agencies. • Support local control and policies that incentivize self-help counties' continued funding contribution to transportation projects in California. • Support policies that provide decision -making authority and flexibility to agencies bearing financial risk for projects. Oppose policies that place unfunded mandates and other undue burdens and restrictions on agencies that bear financial risk for projects. • Support efforts by the state governments to improve maintenance and operations of the state highway and interstate systems. • Oppose efforts by state government to negate their obligation to maintain the state and federal highway systems, or otherwise realign those costs and responsibilities to local and regional agencies. • Oppose efforts by the state legislature to deflect responsibility for voting on revenue for statewide transportation to local voters. Environment • Encourage efforts to limit impacts to the climate, air quality, and habitats in a manner that promotes improved quality of life and equitable outcomes for residents of Riverside County, provided that these efforts are sufficiently funded and do not negatively impact the mission of RCTC. Climate Action and Air Quality • Support a greater share of state greenhouse gas (GHG) reduction funds toward transportation investments to address the transportation sector's share of GHG emissions. • Ensure criteria for defining disadvantaged communities and environmental justice areas of concern accurately represent Riverside County and enable the region to compete for funding. • Oppose efforts to place new environmental criteria (such as GHG reduction or vehicle miles traveled reduction) on transportation projects and programs without commensurate funding for alternatives or mitigation. • Oppose legislative proposals or implementation measures (programming, funding, environmental 714 review, etc.) associated with the Climate Action Plan for Transportation Infrastructure (CAPTI), Caltrans System Investment Strategy (CSIS), Executive Order N-19-19, Executive Order N-79-20, AB 32 Nunez (Chapter 488, Statutes of 2006), SB 375 Steinberg (Chapter 728, Statutes of 2008), SB 743 Steinberg (Chapter 386, Statutes of 2013), SB 32 Pavley (Chapter 249, Statutes of 2016), AB 1278 Muratsuchi (Chapter 337, Statutes of 2022), or other climate action goals that hinder a just transition to multimodal transportation systems in Riverside County. • Support alternative metrics to Vehicle Miles Traveled (VMT) that more accurately account for environmental impacts. Support use of per capita measurements when mitigating transportation sector impacts in growing regions. • Support efforts that allow transportation agencies to receive credit for VMT-reducing projects that have been recently delivered or are included in future delivery plans. • Oppose legislation to authorize a multicounty revenue measure for environmental programs if the measure is not required to: (1) provide equitable funding to Riverside County, and (2) be developed through formal consultation with the Commission before and after passage, and (3) involve the Commission in expenditure of funds within Riverside County related to transportation projects, programs, and services; or if such a measure would negatively impact the Commission's ability to achieve voter approval of local transportation revenue. Habitat Conservation • Support efforts or initiatives that expedite the approval of Habitat Conservation Plans or Special Area Management Plans, or support existing plans. • Support funding for projects and programs that promote wildlife connectivity, if resources are not redirected from other transportation funding programs. • Oppose legislation that limits the streamlining benefit of the Western Riverside County Multiple Species Habitat Conservation Plan or Coachella Valley Multiple Species Habitat Conservation Plan by impugning or duplicating requirements for analysis and remediation of impacts. Alternatives to Driving • Support the continued development of a multimodal transit system in Riverside County that promotes equitable access through geographic reach and service frequency, commuter and mobility choice, and environmental sustainability, as well as maximizes regional competitiveness for state and federal funding. • Support integration of public transportation systems in southern California. Ridesharing • Support incentives to employers that enhance or create transit reimbursement or ridesharing programs. • Oppose new mandates on employers or transportation agencies that would result in disruption of the Commission's ridesharing program. • Support programs and policies that invest in and foster new technologies that promote ridesharing, traffic information, and commuter assistance. • Support regional cooperation toward establishing transportation data standards and technological integrations. • Support rideshare and vanpool program eligibility for state and federal transit funding, such as the Transportation Development Act. 715 Active Transportation • Support maximum regional control of project selection for funding of active transportation projects. • Support policies and programs that recognize when active transportation improvements are incorporated into other modal projects. Transit • Support all transit operators in Riverside County with legislative concerns impacting the operators' funding and operations. • Support efforts to provide flexibility of funding between capital and operating budgets from state/federal programs for transit agencies. • Support efforts to reevaluate transit performance measures in state and federal law. • Support policies and funding programs that promote the establishment or expansion of express bus service that utilizes the Riverside Express Lanes. • Support incentives for transit agencies that utilize alternative fuels and/or zero -emission buses. • Support additional funding for specialized transit programs within state and federal programs. • Support funding for micro -transit programs, as well as efforts to classify these programs as transit operations/transit operators within state and federal programs. • Oppose unfunded mandates that would negatively impact the operating budgets of transit agencies. Passenger Rail • Support inclusion and prioritization of Coachella Valley -San Gorgonio Pass Rail service in the California State Rail Plan, Federal Corridor ID Program, and other state and federal plans and program pipelines. • Support legislation to better enable the Coachella Valley -San Gorgonio Pass Rail service to become part of California's intercity rail network, such as legislation to allow intercity rail joint powers authorities to expand their service areas. • Support efforts to secure state and federal funding for the Coachella Valley -San Gorgonio Pass Rail service project. • Support LOSSAN Rail Corridor Agency and Metrolink with legislative and regulatory concerns impacting funding and operations. • Support efforts to provide an equitable share of funding to west coast intercity rail systems as compared to the Northeast Corridor. • Support Metrolink's policy and funding needs with regard to implementation of positive train control and other rail safety items. • Support Metrolink's SCORE implementation and encourage early SCORE investments in Riverside County. • Support efforts to prioritize high-speed rail funding for connectivity improvements to existing transit systems and infrastructure in California's urban areas. In particular, support all efforts to ensure that funding is provided as soon as possible to projects included in the Memorandum of Understanding (MOU) between the California High Speed Rail Authority (CHSRA), the Southern California Association of Governments (SCAG), and the Commission. • Ensure that the Commission's rights and interests in passenger rail in southern California are properly respected in state, federal, and regional plans and policies. 716 Teleworking/Remote Working • Engage in policy discussions that utilize teleworking as a method to reduce traffic congestion and improve local economic and public health by permanently increasing the number of Riverside County residents who telecommute or work remotely. Tolling and Managed Lanes • Support legislation that ensures the full and accurate capture of toll revenues, to protect the Commission's debt and congestion management obligations. • Support legislation that authorizes toll agencies to pilot or deploy new technology to improve toll operations and mobility. • Support legislation and policies that strengthen existing statutory authority for connecting toll segments to be implemented in an adjacent county with approvals by both authorized counties. • Engage in legislation regarding privacy laws to ensure an appropriate balance between customer privacy, public safety, financial obligation, and practical operations is reasonably met. • Oppose legislation increasing the type and/or number of vehicles subject to free or reduced toll rates, to protect the Commission's debt and congestion management obligations, and to reduce operational costs and complexity. • Oppose state and federal policies which would dictate how tolling policy and rates are implemented on the Commission's tolled facilities. • Engage in policy discussions that may involve legislation or regulatory efforts that add statutory barriers to expanding the use of tolling. • Oppose policies that would dictate, limit use of, or create onerous requirements for utilizing surplus toll revenue. • Engage in legislation and monitor administrative policies relating to interoperability of business practices of tolled facilities statewide, regionally, and nationally, in order to ensure technical feasibility, efficient and effective operations, cost reasonableness, and customer satisfaction. • Support increased enforcement of managed lanes for improved travel time reliability and effective operation of express bus service. • Support policies that recognize the role of pricing and managed lanes as an integral part of multi - modal corridor mobility and achieving environmental goals. • Support initiatives and research that demonstrate the air quality improvements, VMT reduction, and economic benefits from the use of toll and managed lanes. Goods Movement • Policies should recognize the impact of goods movement from the Ports of Los Angeles and Long Beach and the U.S.-Mexico border on Riverside County. • Support state and federal legislative action to continue dedicated funding for goods movement projects, inasmuch as the funding source: o Has a nexus to the user; o Does not reduce funding to existing highway and transit programs; o Provides funding to California, and southern California in particular, commensurate with this region and state's significance to interstate goods movement; and o Can be spent on grade separation projects. • Provide input to the National Freight Advisory Committee and California State Freight Advisory Committee. • Advocate for accurate representation of Riverside County in the Primary Freight Network or other national or statewide freight route designations. • Advocate for freight funding from state and federal sources to be distributed based on a regional 717 consensus, in consultation with state and federal agency's freight plans. • Oppose increasing the capacity or intensity of freight movement in and near Riverside County without commensurate mitigation of impacts. • Support legislation to ensure that the Commission is eligible to seek federal goods movement and freight program discretionary grant funding. • Oppose policies that restrict the ability to deliver goods movement enhancements due to application of SB 743. Projects • Support programs and policies that advantage transportation projects in Riverside County. • Oppose policies that inhibit the efficient, timely delivery of such projects. Funding • Support continued testing and analysis of California's road charge pilot program as a potential replacement of the state motor fuels excise tax as the primary funding mechanism for transportation and ensure that both urban, suburban, and rural communities are treated in an equitable manner. • Monitor the federal government's pilot program to explore potential replacement mechanisms for the federal gasoline excise tax. • Support all efforts to maintain, at the very least, level state/federal funding for transportation programs. • Support re -dedication of California truck weight fees to transportation accounts. • Monitor legislation relating to tax collection for impacts on Measure A revenues or administration fees. • Support maximizing Commission flexibility and discretion over funding decisions. • Funding sources should be discretionary and distributed by population share to facilitate expeditious project delivery and expenditure of funds. • Support maintaining the legislative intent behind Senate Bill 1 (Statutes 2017) and historic base program funding, by: o Opposing efforts to tie distribution of transportation funding to ancillary policy matters, such as housing. o Opposing efforts to deviate from legislative intent and existing statute. o Supporting efforts to adjust formula allocations to maximize funding decisions being made as locally as possible. o Ensuring program guidelines are as broad as possible with respect to mode, to the extent appropriate while adhering to legislative intent. Regional Partnerships • Collaborate with regional transportation agencies to impact transportation funding and regulatory policies to bring equity and fairness to the Inland Empire region. • Collaborate with public and private sector stakeholders on policy and funding matters that enhance economic development and quality of life in the Inland Empire region. • Engage in legislative efforts impacting regional transportation agencies, particularly when the efforts have a nexus to the Commission. • Support implementation of projects in other counties that are contained in the Southern California Association of Governments RTP/Sustainable Communities Strategy when requested by other counties and not in conflict with the Commission's interests. 718 ATTACHMENT 3 RIVERSIDE COUNTY TRANSPORTATION COMMISSION - POSITIONS ON STATE AND FEDERAL LEGISLATION - NOVEMBER 2022 Legislation/ Author Description Bill Status Position Date of Board Adoption Federal HR 972 (Calvert) This bill establishes the Western Riverside County Wildlife Refuge which would provide certainty for development of the transportation infrastructure required to meet the future needs of southern California. Ordered Reported by the House Committee on Natural Resources July 14, 2021 SUPPORT Staff action based on platform June 11, 2021 719 AGENDA ITEM 9 RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: December 14, 2022 TO: Riverside County Transportation Commission FROM: Lisa Mobley, Administrative Services Director/Clerk of the Board THROUGH: Anne Mayer, Executive Director SUBJECT: Election of Riverside County Transportation Commission Officers STAFF RECOMMENDATION: This item is for the Commission to conduct an election of officers for 2023 — Chair, Vice Chair, and Second Vice Chair. BACKGROUND INFORMATION: Election of Officers In accordance with the Administrative Code, the Commission must annually hold an election of officers at its first meeting in December. The changes will be effective on January 1 of the following year. The officers of the Commission shall consist of the Chair, Vice Chair, and Second Vice Chair. At its October 9, 2013 meeting, the Commission adopted an amendment to the Administrative Code to modify the officer rotation procedure. Rather than requiring the city and county members alternate every year in the officer positions, the new policy requires there be at least one Supervisor and one city councilmember among the three officer positions at all times. For 2022, V. Manuel Perez served as Chair, Bob Magee as Vice Chair, and Lloyd White as Second Vice Chair. For 2023, the Second Vice Chair shall be a regular member of the Commission representing the Riverside County Board of Supervisors. Additionally, appointing a second vice chair from the Board of Supervisors will result in the remainder of the Board of Supervisors being appointed to the Executive Committee to satisfy the requirement of three Supervisorial appointees to the Executive Committee. Attachments: 1) List of Past Commission Chairs 2) Administrative Code Excerpt Election of Chair, Vice Chair and Second Vice Chair Agenda Item 9 720 ATTACHMENT 1 RIVERSIDE COUNTY TRANSPORTATION COMMISSION COMMISSION CHAIRS 2022 V. Manuel Perez County of Riverside — District 4 2021 Jan Harnik City of Palm Desert 1995 Alex Clifford City of Riverside 2020 Ben J. Benoit City of Wildomar 1994 Corky Larson County of Riverside — District 4 2019 Chuck Washington County of Riverside — District 3 1993 Al Lopez City of Corona 2018 Dana Reed City of Indian Wells 1992 Al Lopez City of Corona 2017 John F. Tavaglione County of Riverside — District 2 1991 Kay Ceniceros County of Riverside — District 3 2016 Scott Matas City of Desert Hot Springs 1990 Kay Ceniceros County of Riverside — District 3 2015 Daryl R. Busch City of Perris 1989 Jack Clarke City of Riverside 2014 Marion Ashley County of Riverside — District 5 1988 Don Baskett City of Hemet 2013 Karen Spiegel City of Corona 1987 Melba Dunlap County of Riverside — District 2 2012 John J. Benoit County of Riverside — District 4 1986 Jean Mansfield City of Riverside 2011 Greg Pettis City of Cathedral City 1985 Susan Cornelison Public Member 2010 Bob Buster County of Riverside — District 1 1984 Susan Cornelison Public Member 2009 Bob Magee City of Lake Elsinore 1983 Roy Wilson City of Palm Desert 2008 Jeff Stone County of Riverside — District 3 1982 Norton Younglove County of Riverside — District 5 2007 Terry Henderson City of La Quinta 1981 Jean Mansfield City of Riverside 2006 Marion Ashley County of Riverside — District 5 1980 Donald Schroeder County of Riverside — District 2 2005 Robin Lowe City of Hemet 1979 Donald Schroeder County of Riverside — District 2 2004 Roy Wilson County of Riverside — District 4 1978 Russell Beirich City of Palm Springs 2003 Ron Roberts City of Temecula 1977 Russell Beirich City of Palm Springs 2002 John Tavaglione County of Riverside — District 2 2001 Will Kleindienst City of Palm Springs 2000 Tom Mullen County of Riverside — District 5 1999 Jack van Haaster City of Murrieta 1998 Bob Buster County of Riverside — District 1 1997 Bob Buster County of Riverside — District 1 1996 Alex Clifford City of Riverside 721 ATTACHMENT 2 EXCERPT FROM THE COMMISSION'S ADMINISTRATIVE CODE, ARTICLE III, SECTION B B. ELECTION OF CHAIR, VICE CHAIR AND SECOND VICE CHAIR. The Commission annually, at its first meeting in December, and at such other times as there may be a vacancy in either office, shall elect a Chair who shall preside at all meetings, a Vice Chair who shall preside in the absence of the Chair, and a Second Vice Chair who shall preside in the absence of the Chair and the Vice Chair. The Chair, the Vice Chair, and the Second Vice Chair shall be elected by the Commission at its first meeting in December for a one-year term. The changes will be effective on January 1. The election for each position is as follows: 1. At the start of the agenda item, Commission Board members may nominate one or more regular members to fill the positions of Chair, Vice Chair, and Second Vice Chair. Each nomination must be seconded in order to qualify that member for the election. Only those members nominated and seconded shall be part of the selection process set forth below. 2. If no objections are made, the nominations will be closed when the Chair makes a formal announcement closing the nomination period. 3. If only one nomination is received for a position, the Chair shall call on the Commission's Board of Director's to approve the nomination. If more than fifty (50%) percent of the votes cast approve that nominee, the nominee shall be elected and the election for that position shall be consider complete. If the nominee fails to obtain more than fifty percent (50%) of votes cast by the Board, the process for electing a member to the desired position shall begin again from paragraph 1. 4. If two nominations are received for a position, the Chair shall call for the Commission's Board of Director's to cast votes for one of the nominees. Both nominees shall be voted on using a single written ballot. If one of the nominees receives more than fifty percent (50%) of the votes cast, that nominee shall be elected and the election for that position shall be considered complete. If the election fails to result in a nominee with more than fifty percent (50%) of the vote, the nominee with the most votes will be placed before the Commission's Board of Directors for approval. The nominee must be approved by more than fifty percent (50%) of the votes cast by the Board in order to be elected to the desired position. If the nominee fails to obtain more than fifty percent (50%) of the Board's vote, the process for electing a person to the desired position shall begin again from paragraph 1. 5. If there are more than two nominees, the following steps shall be followed in the order set forth below: (a) The Chair shall call for the Commission's Board of Directors to cast votes for one of the nominees. All nominees shall be voted on using a single written ballot. If one nominee receives more than fifty percent (50%) of the votes cast that nominee shall be elected and the election for that position shall be considered complete. If the vote fails to result in a nominee receiving more than fifty percent (50%) of the votes cast, the two nominees with the most votes will be placed in a runoff election. 722 (b) The winning nominee in the runoff election is selected if that nominee receives more than fifty percent (50%) of the votes cast. In that case, the election for that position shall be considered complete. (c) If the runoff election fails to result in a nominee with more than fifty percent (50%) of the vote, the nominee with the most votes will be placed before the Commission's Board of Directors for approval. (d) If the nominee receives more than fifty percent (50%) of the votes cast, the nominee shall be elected and the election for that position shall be considered complete. (e) If the nominee placed before the Commission's Board of Directors fails to obtain more than fifty percent (50%) of the votes cast, the process for electing a person to the desired position shall begin again from Paragraph 1, above (f) If there is a tie in any step in the election process and the next step of the process cannot proceed, then one or more tie -breaking votes will occur in which all members of the Commission's Board of Directors present at the meeting will be allowed to vote again. The winning nominee must receive more than fifty percent (50%) of the votes cast to be elected. At any point the Commission may vote to suspend the vote until a subsequent meeting. If the Chair has been selected prior to the vote to suspend, the new Chair shall be seated when his or her term commences, but shall relinquish his or her seat as the Vice Chair if applicable. If the Chair and Vice Chair have been selected prior to the vote to suspend, the new Vice Chair shall also seated when his or her term commences, but shall relinquish his or he seat as Second Vice Chair, if applicable. The tally of all votes taken by written ballot hereunder shall be read aloud by the Clerk of the Board immediately following the vote. The written ballots shall be retained by the Clerk of the Board as part of the public record of the meeting. The Chair, the Vice Chair, and the Second Vice Chair shall regularly alternate between regular members of the Commission representing a city and a regular member of the Commission who is a member of the Riverside County Board of Supervisors. At all times, at least one of three officer slots — Chair, Vice Chair, or Second Vice Chair — shall be held by a member of the Riverside County Board of Supervisors. During the time in which the Chair is a regular member of the Commission representing a city, either the Vice Chair or the Second Vice Chair, or both, shall be a regular member of the Commission who is a member of the Riverside County Board of Supervisors. During the time in which the Chair is a regular Commission member who is a member of the Riverside County Board of Supervisors, either the Vice Chair or the Second Vice Chair, or both, shall be a regular member of the Commission representing a city in order to ensure the participation of both city and county representatives in leadership positions. 723 AGENDA ITEM 10 RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: December 14, 2022 TO: Riverside County Transportation Commission FROM: Lisa Mobley, Administrative Services Director/Clerk of the Board THROUGH: Anne Mayer, Executive Director SUBJECT: Appointment of Executive Committee Members STAFF RECOMMENDATION: This item is for the Commission to: 1) The cities of Corona, Jurupa Valley, Menifee, Moreno Valley, Murrieta, Riverside, and Temecula to appoint two representatives to the Executive Committee; 2) The cities of Banning, Beaumont, Calimesa, Canyon Lake, Eastvale, Hemet, Lake Elsinore, Norco, Perris, San Jacinto, and Wildomar to appoint one representative to the Executive Committee; and 3) The cities of Blythe, Cathedral City, Coachella, Desert Hot Springs, Indian Wells, Indio, La Quinta, Palm Desert, Palm Springs, and Rancho Mirage to appoint one representative to the Executive Committee. BACKGROUND INFORMATION: Executive Committee Appointments In accordance with the Administrative Code, appointees to the Executive Committee serve for a two-year term. The current Executive Committee Members are as follows: V. Manuel Perez, County of Riverside, District 4 — Chair Bob Magee, City of Lake Elsinore — Vice Chair Lloyd White, City of Beaumont — Second Vice Chair Jan Harnik, City of Palm Desert — Past Chair Wes Speake, City of Corona Brian Berkson, City of Jurupa Valley Lisa Middleton, City of Palm Springs Ben J. Benoit, City of Wildomar Karen Spiegel, County of Riverside, District 2 Chuck Washington, County of Riverside, District 3 Jeff Hewitt, County of Riverside, District 5 Agenda Item 10 724 Therefore, it is time for the cities to select their next appointees to the Executive Committee. The term of the newly appointed Executive Committee members representing the cities will be for calendar years 2023 and 2024. Commission members will be given time to caucus prior to the election and appointments. Agenda Item 10 725 RIVERSIDE COUNTY TRANSPORTATION COMMISSION COMMISSIONER SIGN -IN SHEET DECEMBER 14, 2022 _ NAME AGENCY E MAIL ADDRESS n 4), A_VL II ,2--9-- .r-Lr, ,... . . ,,fyi_ :--00 ff_t_....4,.. c f:,:io] (tit, 0,,-f ,, f7.,N e, Ai o Id uv ale/ z`Mik(Mit44-ili ji/1, 1v1 /..)-t_._s -,--3- ,tyvii-, - co ,L, .,. L -L , „ ,J, , C , C% N-2 P te. LL.).- /47 fer-S -, Yv) iiJr7s -vfr1 /i . If LIIVAn ./1,(‘ rl,/e/Li - (76jk ti//5//k/41P47 i/\/C) 3 ,,V i ,6 1T" t4../L 4A .04.1a. R u PR ,,Ligo E7 - G % ;if" 40 ,,, ;.10 ,.,<— Z --u, fi ci 4/ / E 174/-7-2%w ! 442 c 0 ,_FeQ� /c a. eD� �v/^q 4, V a 1 /e ,' litntA- /l 0/1/11-- &iY(1Mesti , RIVERSIDE COUNTY TRANSPORTATION COMMISSION TO: Riverside County Transportation Commission FROM: Lisa Mobley, Administrative Services Director/Clerk of the Board DATE: December 7, 2022 SUBJECT: G.C. 84308 Compliance — Potential Conflict of Interest California Government Code 84308 states a Commissioner may not participate in any discussion or action concerning a contract or amendment if a campaign contribution of more than $250 is received in the past 12 months or 3 months following the conclusion from a bidder or bidder's agent. This prohibition does not apply to the awarding of contracts that are competitively bid. The Commission's procurement division asks potential vendors to disclose any contributions made to the campaigns of any Commissioner as part of their submitted bid packets. As an additional precaution, those entities are included below in an effort to give Commissioners opportunity to review their campaign statements for potential conflicts. Please note the entities listed in this memo are not encompassing of all potential conflicts and are in addition to any personal conflicts of interest such as those disclosed on Statement of Economic Interests — Form 700 or prohibited by Government Code Section 1090. Please contact me should you have any questions. Agenda Item No. 6L - Agreements for On -Call Environmental Consulting Services Consultant(s): GPA Consulting Richard Galvin, Vice President/CFO 840 Apollo Street, Suite 312 El Segundo, CA 90245 HNTB Corporation C. Yoga Chandran, Vice President 3633 Inland Empire Blvd., Suite 750 Ontario, CA 91764 ICF Jones & Stokes, Inc. Hawani Tessema, Senior Manager, Contracts 9300 Lee Highway Fairfax, VA 22031 Stantec Consulting Services, Inc. Gilberto Ruiz, Principal Environmental Planner 523 West 6th Street, Suite 1200 Los Angeles, CA 90014-1218 RCTC Potential Conflicts of Interest December 7, 2022 Page 2 14. CLOSED SESSION 14A. CONFERENCE WITH REAL PROPERTY NEGOTIATORS Pursuant to Government Code Section 54956.8 Agency Negotiator: Executive Director or Designee Item Property Description Property Owner Buyer(s) 1 279-530-030 279-240-020 279-240-008 RCTC Mad Atom, LLC Shea Properties Crystal Windows & Doors From: j isa Mobley To: Usa Mobley Subject: RCTQ CTC meeting video Date: Wednesday, December 14, 2022 2:50:15 PM Attachments: imaae001.onq jmaae002 ring jmaae003.onq image004.onq jmaae005 Dori imaae006,onq jmage007 onq Unaae008 onq Imaaeo09.onq jmaae010 onq jmaae011.onq image012.onq jmaae013 onq imaoeol4.onq Good afternoon Commissioners, Below please find a link to the video shared at last week's CTC meeting. httos://voutu.be/aALftzZ9HTU Thank you, Lisa Lisa Mobley Administrative rvices Director/Clerk of the Board Riverside County Transportation Commission 951.787.7141 W1 951.787.7960 C 4080 Lemon St. 3rd R.I P.O. Box 12008 Rive CA 92502 rctc.orq 1 wrc-rca.orq