HomeMy Public PortalAbout02 February 27, 2006 Budget & Implementation75999
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RIVERSIDE COUNTY TRANSPORTATION COMMISSION
BUDGET AND IMPLEMENTATION COMMITTEE
MEETING AGENDA
TIME:
DATE:
9:30 a.m. (PLEASE NOTE TIME CHANGE)
Monday, February 27, 2006
LOCATION: Board Chambers
County Administrative Center
4080 Lemon Street, 1" Floor
Riverside, CA 92501
RECORDS
***COMMITTEE MEMBERS***
Jeff Stone, Chair / District Three / County of Riverside
Barbara Hanna, Vice Chair / Art Welch, City of Banning
Roger Berg / Jeff Fox, City of Beaumont
Robert Crain / City of Blythe
Gregory S. Pettis / Charles "Bud" England, City of Cathedral City
Juan M. DeLara / Richard Macknicki, City of Coachella
Alex Bias / Yvonne Parks, City of Desert Hot Springs
Bob Magee / Robert L. Schiffner, City of Lake Elsinore
Terry Henderson / Don Adolph, City of La Quinta
Rick Gibbs / Douglas McAllister, City of Murrieta
Ron Meepos / Alan Seman, City of Rancho Mirage
Steve Adams, City of Riverside
Chris Buydos / City of San Jacinto
John F. Tavaglione, District Two / County of Riverside
***STAFF***
Eric Haley, Executive Director
Theresia Trevino, Chief Financial Officer
***AREAS OF RESPONSIBILITY***
Annual Budget Development and Oversight
Countywide Strategic Plan
Legislation
Measure A Implementation and Capital Programs
Public Communications and Outreach Programs
Competitive Grant Programs: TEA 21-CMAQ & STP, Transportation Enhancement
and SB 821-Bicycle & Pedestrian
Peoperty Management
SAFE/Freeway Service Patrol
TUMF Program
and other areas as may be prescribed by the Commission
Comments are welcomed by the Committee. if you wish to provide comments to the
Committee, please complete and submit a Testimony Card to the Clerk of the Commission.
11.36.06
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R I V E R S I D E C O U N T Y T R A N S P O R T A T I O N C O M M I S S I O N
B U D G E T A N D I M P L E M E N T A T I O N C O M M I T T E E
w w w . r c t c . o r g
A G E N D A *
* A c t i o n s m a y b e t a k e n o n a n y i t e m l i s t e d o n t h e a g e n d a
9 : 3 0 a . m . ( P l e a s e n o t e t i m e c h a n g e )
M o n d a y , F e b r u a r y 2 7 , 2 0 0 6
B O A R D C H A M B E R S
C o u n t y A d m i n i s t r a t i v e C e n t e r
4 0 8 0 L e m o n S t r e e t , 1 s ` F l o o r
R i v e r s i d e , C a l i f o r n i a
I n c o m p l i a n c e w i t h t h e A m e r i c a n s w i t h D i s a b i l i t i e s A c t a n d G o v e r n m e n t C o d e S e c t i o n
5 4 9 5 4 . 2 , i f y o u n e e d s p e c i a l a s s i s t a n c e t o p a r t i c i p a t e i n a C o m m i t t e e m e e t i n g , p l e a s e
c o n t a c t t h e C l e r k o f t h e C o m m i s s i o n a t 1 9 5 1 ) 7 8 7 - 7 1 4 1 . N o t i f i c a t i o n o f a t l e a s t 4 8 h o u r s
p r i o r t o m e e t i n g t i m e w i l l a s s i s t s t a f f i n a s s u r i n g t h a t r e a s o n a b l e a r r a n g e m e n t s c a n b e
m a d e t o p r o v i d e a c c e s s i b i l i t y a t t h e m e e t i n g .
1 . C A L L T O O R D E R
2 . R O L L C A L L
3 . P U B L I C C O M M E N T S
4 . A P P R O V A L O F M I N U T E S
5 . A D D I T I O N S / R E V I S I O N S ( T h e C o m m i t t e e m a y a d d a n i t e m t o t h e A g e n d a
a f t e r m a k i n g a f i n d i n g t h a t t h e r e i s a n e e d t o t a k e i m m e d i a t e a c t i o n o n t h e
i t e m a n d t h a t t h e i t e m c a m e t o t h e a t t e n t i o n o f t h e C o m m i t t e e s u b s e q u e n t
t o t h e p o s t i n g o f t h e a g e n d a . A n a c t i o n a d d i n g a n i t e m t o t h e a g e n d a
r e q u i r e s 2 / 3 v o t e o f t h e C o m m i t t e e . I f t h e r e a r e l e s s t h a n 2 / 3 o f t h e
C o m m i t t e e m e m b e r s p r e s e n t , a d d i n g a n i t e m t o t h e a g e n d a r e q u i r e s a
u n a n i m o u s v o t e . A d d e d i t e m s w i l l b e p l a c e d f o r d i s c u s s i o n a t t h e e n d o f t h e
a g e n d a . )
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Budget and Implementation Committee
February 27, 2006
Page 2
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. QUARTERLY. INVESTMENT REPORT
Overview
This item is for the Committee to:
Pg. 1
1) Receive and file the Quarterly Investment Report for the quarter ended
December 31, 2005; and
2) Forward to, the Commission for final action.
7. AWARD AMENDMENT NO. 3, AGREEMENT NO. 02-31-043-03 TO CH2M
HILL FOR THE PERFORMANCE OF PRELIMINARY ENGINEERING SERVICES
FOR THE PREPARATION OF AN ADMINISTRATIVE DRAFT PROJECT REPORT
AND ENVIRONMENTAL DOCUMENT FOR THE STATE ROUTE 79
REALIGNMENT PROJECT
Pg. 11'
Overview
This item is for the Committee to:
1) Award of Agreement No. 02-31-043-03 (Amendment No. 3 to Master
Agreement) to CH2M Hill based on the negotiated project scope,
schedule and cost that is attached to this agenda item for the,
Realignment of SR-79 in the vicinity of the cities of San Jacinto and
Hemet for the development of an Administrative Draft Project Report and
Environmental Document (PR/ED) (the Project). This Amendment will not
increase the currently approved not to exceed amount for this consultant
services contract. The revised scope of services will be funded by
rescoping the Project back from the completion of a final PR/ED to the
completion of the Administrative Draft PR/ED by taking the actions noted
below in recommendations 2 and 3;
2) Authorize the use of the contingency funds in the amount of $1,807,873
that were established by Amendment No. 2 (Agreement No. 06-.31-516)
to fund a portion of the attached newly defined scope of services that
will be required to take the Project to the Administrative Draft level of the
PR/ED;
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Budget and Implementation Committee
February 27, 2006
Page 3
3) Authorize the reallocation of the existing scope of services that are
currently valued at $1,428,639 from approved Amendment No. 1
(Agreement No. 05-31-532) to fund the remainder of the revised scope
of services defined in Amendment No. 3 to take the Project to the
Administrative Draft level of the PR/ED;
4) Authorize staff to work with the consultant team to develop a revised
scope of work that will move the Project from the Administrative Draft
level to the final PR/ED;
5) Authorize the Chairman, pursuant to legal counsel review, to execute
Agreement No. 02-31-043-03 on behalf of the Commission; and
6) Forward to the Commission for final action.
8. ANNUAL INVESTMENT POLICY REVIEW
Overview
This item is for the Committee to:
1) Adopt the Investment Policy; and
2) Forward to the Commission for final action.
9. FISCAL YEAR 2004/05 TDA AND MEASURE A AUDIT RESULTS
Overview
This item is for the Committee to:
10.
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Pg. 26
Pg. 38
1) Receive and file the Transportation Development Act (TDA) and Measure
A audit results report for the Fiscal Year 2004/05; and
2) Forward to the Commission for final action.
PROPOSED POLICY GOALS AND OBJECTIVES FOR FISCAL YEAR 2006/07
BUDGET
Pg. 52
Overview
This item is for the Committee to:
1) Approve the proposed Commission Policy Goals and Objectives for the
Fiscal Year 2006/07 Budget; and
2) Forward to the Commission for final action.
Budget and Implementation Committee
February 27, 2006
Page 4
11. TRANSPORTATION UNIFORM MITIGATION FEE (TUMF) FINANCING
THROUGH STATEWIDE COMMUNITY INFRASTRUCTURE PROGRAM
Overview
This item is for the Committee to:
Pg. 60
1) Approve in -concept the Commission's participation in the Statewide
Community Infrastructure Program (SCIP); and
2) Forward to the Commission for final action.
12. TRANSPORTATION UNIFORM MITIGATION FEE (TUMF) PROGRAMMING
ADMINISTRATIVE POLICY
13.
Overview
This item is for the Committee to:
1) Approve the TUMF Programming Administrative Policy; and
2) Forward to the Commission for final action.
STATE AND FEDERAL LEGISLATIVE UPDATE
Overview
This item is for the Committee to:
1) Approve the following bill positions:
AB 2025 (Niello, R-Fair Oaks) — SUPPORT
AB 2028 (Huff, R-Diamond Bar) — SUPPORT;
2) Receive and file as an information item; and
3) Forward to the Commission for final action.
14. ITEMS PULLED FROM CONSENT CALENDAR AGENDA
Pg. 73
Pg. 75
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Budget and Implementation Committee
February 27, 2006
Page 5
15. COMMISSIONERS / STAFF REPORT
Overview
1) This item provides the opportunity for the Commissioners and staff
to report on attended and upcoming meeting/conferences and
issues related to Commission activities.
16. ADJOURNMENT AND NEXT MEETING
The next Budget and Implementation Committee meeting is scheduled to be
held at 9:30 A.M., Monday, March 27, 2006, Board Chambers, 1st Floor,
County Administrative Center, 4080 Lemon Street, Riverside.
ATTENDANCE ROSTER
NAME
BUDGET AND IMPLEMENTATION COMMITTEE MEETING
MONDAY, FEBRUARY 27, 2006 9:30 A.M.
B es
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REPRESENTING
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AGENDA ITEM 4
Minutes
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R I V E R S I D E C O U N T Y T R A N S P O R T A T I O N C O M M / S S / O N
B U D G E T A N D I M P L E M E N T A T I O N C O M M I T T E E
M o n d a y , J a n u a r y 2 3 , 2 0 0 6
M I N U T E S
1 . C A L L T O O R D E R
T h e m e e t i n g o f t h e B u d g e t a n d I m p l e m e n t a t i o n C o m m i t t e e w a s c a l l e d t o
o r d e r b y V i c e C h a i r J e f f S t o n e a t 8 : 3 6 a . m . , i n t h e B o a r d R o o m a t t h e
C o u n t y o f R i v e r s i d e A d m i n i s t r a t i v e C e n t e r , 4 0 8 0 L e m o n S t r e e t , F i r s t F l o o r ,
R i v e r s i d e , C a l i f o r n i a , 9 2 5 0 1 .
R O L L C A L L
M e m b e r s / A l t e r n a t e s P r e s e n t M e m b e r s A b s e n t
S t e v e A d a m s
R o g e r B e r g
A l e x B i a s
J u a n D e L a r a
B a r b a r a H a n n a
T e r r y H e n d e r s o n
B o b M a g e e
J o h n T a v a g l i o n e
J e f f S t o n e
C h r i s B u y d o s
R o b e r t C r a i n
R i c k G i b b s
R o n M e e p o s
G r e g o r y P e t t i s
3 . P U B L I C C O M M E N T S
T h e r e w e r e n o r e q u e s t s f r o m t h e p u b l i c t o s p e a k .
4 . A D D I T I O N S / R E V I S I O N S
T h e r e w e r e n o a d d i t i o n s o r r e v i s i o n s t o t h e a g e n d a .
5 . A P P R O V A L O F M I N U T E S - O c t o b e r 2 8 a n d N o v e m b e r 2 8 , 2 0 0 5
M / S / C ( H e n d e r s o n / S t o n e ) t o a p p r o v e t h e m i n u t e s o f O c t o b e r 2 8 a n d
N o v e m b e r 2 8 , 2 0 0 5 a s s u b m i t t e d .
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Budget and Implementation Committee Minutes
January 23, 2006
Page 2
6. CONSENT CALENDAR
M/S/C (Henderson/Stone) to approve the following Consent Calendar items:
6A. INTERFUND LOAN ACTIVITY REPORT
1) Receive and file the Interfund Loan Activity Report for the
second quarter ended December 31, 2005; and
2) Forward to the Commission final action.
6B. QUARTERLY FINANCIAL STATEMENTS
1) Receive and file the Quarterly Financial Statements for the
second quarter ended December 31, 2005; and
2) Forward to the Commission for final action.
6C. SINGLE SIGNATURE AUTHORITY REPORT
1) Receive and file the Single Signature Authority Report for the
second quarter ended December 31, 2005; and
2) Forward to the Commission for final action.
7. MEMORANDUM OF UNDERSTANDING NO. 06-31-016-00 FOR FUNDING OF
THE CANTU-GALLEANO RANCH ROAD INTERCHANGE
Hideo Sugita, Deputy Executive Director, provided an overview of the
funding for the interchange project.
M/S/C (Henderson/Tavaglione) to:
1) Approve the Memorandum of Understanding (MOU)
No. 06-31-016-00 for the Measure A balance amount for the
Cantu-Galleano Road interchange project programmed for
$2,734,000;
2) Authorize the Chair, pursuant to legal counsel review, to
execute the MOU on behalf of the Commission; and
3) Forward to the Commission for final action.
At this time, Chair Bob Magee assumed the Chair.
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B u d g e t a n d I m p l e m e n t a t i o n C o m m i t t e e M i n u t e s
J a n u a r y 2 3 , 2 0 0 6
P a g e 3
8 . M E M O R A N D U M O F U N D E R S T A N D I N G N O . 0 6 - 3 1 - 0 1 7 F O R T H E F U N D I N G
A N D J O I N T D E V E L O P M E N T O F S T A T E H I G H W A Y 1 1 1 I M P R O V E M E N T S
W I T H I N T H E C I T Y O F I N D I O
H i d e o S u g i t a p r o v i d e d a n o v e r v i e w o f t h e f u n d i n g f o r t h e H i g h w a y 1 1 1
i m p r o v e m e n t p r o j e c t b e t w e e n J e f f e r s o n a n d M a d i s o n S t r e e t s i n t h e c i t y o f
I n d i o .
M / S / C ( H e n d e r s o n / T a v a g l i o n e ) t o :
1 ) A p p r o v e M e m o r a n d u m o f U n d e r s t a n d i n g ( M O U ) N o .
0 6 - 3 1 - 0 1 7 - 0 0 f o r t h e f u n d i n g r e i m b u r s e m e n t o f S t a t e
H i g h w a y 1 1 1 J e f f e r s o n S t r e e t t o M a d i s o n S t r e e t i m p r o v e m e n t s
w i t h i n t h e c i t y o f I n d i o f o r a t o t a l a m o u n t n o t t o e x c e e d
$ 3 , 2 0 0 , 0 0 0 ;
2 ) A u t h o r i z e t h e C h a i r , p u r s u a n t t o l e g a l c o u n s e l r e v i e w , t o
e x e c u t e t h e M O U o n b e h a l f o f t h e C o m m i s s i o n ; a n d
3 ) F o r w a r d t o t h e C o m m i s s i o n f o r f i n a l a c t i o n .
9 . M I D - Y E A R B U D G E T A D J U S T M E N T S
M i c h e l e C i s n e r o s , A c c o u n t i n g M a n a g e r , r e v i e w e d t h e m i d - y e a r b u d g e t
a d j u s t m e n t s r e l a t e d t o a d d i t i o n a l s t a f f a n d S A F E l e g a l c o s t s .
M / S / C ( H e n d e r s o n / T a v a g l i o n e ) t o :
1 ) A p p r o v e a $ 3 0 6 , 0 0 0 i n c r e a s e i n e x p e n d i t u r e s f o r r e c r u i t m e n t ,
e m p l o y m e n t s c r e e n i n g , o f f i c e r e c o n f i g u r a t i o n a n d o f f i c e s y s t e m s ,
a n d s a l a r i e s a n d b e n e f i t s ;
2 ) A p p r o v e a $ 6 5 , 0 0 0 i n c r e a s e i n S e r v i c e A u t h o r i t y f o r F r e e w a y
E m e r g e n c i e s ( S A F E ) g e n e r a l l e g a l c o s t s r e l a t e d t o l i t i g a t i o n ; a n d
3 ) F o r w a r d t o t h e C o m m i s s i o n f o r f i n a l a c t i o n .
1 0 . F I S C A L Y E A R 2 0 0 4 / 0 5 C O M M I S S I O N A U D I T R E S U L T S
T h e r e s i a T r e v i n o , C h i e f F i n a n c i a l O f f i c e r , p r e s e n t e d t h e r e s u l t s o f t h e a u d i t o f
t h e C o m m i s s i o n ' s b a s i c f i n a n c i a l s t a t e m e n t s . T h e r e w e r e n o c o m p l i a n c e
f i n d i n g o r f i n d i n g s i n t h e a g r e e d u p o n p r o c e d u r e s r e p o r t s . S h e n o t e d t h a t t h e
a u d i t o r ' s o p i n i o n i n c l u d e s a n e x p l a n a t o r y p a r a g r a p h r e l a t e d t o a r e s t a t e m e n t o f
c a p i t a l a s s e t s a n d n e t a s s e t s b a s e d o n s t a f f ' s d e t e r m i n a t i o n t h a t c e r t a i n r a i l
e a s e m e n t s a n d p r o p e r t y h a d n o t b e e n p r o p e r l y a c c o u n t e d f o r u p o n
i m p l e m e n t a t i o n o f G A S B 3 4 .
Budget and Implementation Committee Minutes
January 23, 2006
Page 4
Commissioner Terry Henderson stated that the Audit Ad Hoc Committee spent
significant time discussing the asset with staff and is satisfied with the
safeguards that have been put into place since its discovery.
Eric Haley, Executive Director, stated that the discovery of the asset came
from staff's proactive review and knowledge of the rapidly changing
accounting requirements.
Theresia Trevino stated that the auditor noted that correction of capitals assets
is common among government agencies since the adoption of GASB 34.
M/S/C (Henderson/Stone) to receive and file the Fiscal Year 2004/05:
1) Comprehensive Annual Financial Report;
2) Local Transportation Fund Audited Financial Statements
3) State Transit Assistance Fund Audited Financial Statements;
4) Compliance Report;
5) Audit Results Report;
S) Management Letter
7) Agreed -Upon Procedures Report related to the Commuter
Assistance Program incentives;
8) Agreed -Upon Procedures Report related to the Appropriation
Limit Calculation; and
9) Forward to the Commission for final action.
11. DEVELOPMENT OF ACCOUNTABILITY PROGRAM
Theresia Trevino explained the need for developing policies that address fraud
risk, ethical conduct, disclosure, and responsibilities. She noted that while the
laws are not yet applicable to state and local governments, management staff
proposes a proactive approach with the development of an accountability
program.
Commissioner Henderson commended management staff for its proactive
approach and will be submitting the program to the city of La Quinta for
review.
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B u d g e t a n d I m p l e m e n t a t i o n C o m m i t t e e M i n u t e s
J a n u a r y 2 3 , 2 0 0 6
P a g e 5
M / S / C ( H e n d e r s o n / S t o n e ) t o :
1 ) A p p r o v e t h e c o n c e p t u a l f r a m e w o r k f o r a C o m m i s s i o n
A c c o u n t a b i l i t y P r o g r a m ;
2 ) D i r e c t s t a f f t o d e v e l o p s p e c i f i c a c c o u n t a b i l i t y m e a s u r e s b a s e d
o n s u c h f r a m e w o r k a n d p r e s e n t s u c h g u i d e l i n e s t o t h e
C o m m i s s i o n f o r i t s f u t u r e r e v i e w a n d a p p r o v a l ;
3 ) R e c e i v e a n d f i l e t h e m a n a g e m e n t c e r t i f i c a t i o n s ; a n d
4 ) F o r w a r d t o t h e C o m m i s s i o n f o r f i n a l a c t i o n .
1 2 . M I D - Y E A R R E V E N U E P R O J E C T I O N S
M i c h e l e C i s n e r o s r e v i e w e d t h e m i d - y e a r M e a s u r e A a n d L T F r e v e n u e
p r o j e c t i o n s a n d r e l a t e d b u d g e t a d j u s t m e n t s .
E r i c H a l e y p r o v i d e d a b r i e f e x p l a n a t i o n o f h o w L T F f u n d s a r e u t i l i z e d a n d
n o t e d t h a t s t a f f c h a n g e d t h e b u d g e t d i s c i p l i n e a p p r o x i m a t e l y f o u r y e a r s a g o
t o i n c l u d e m i d - y e a r a d j u s t m e n t s d u e t o u n u s u a l l y s t r o n g r e v e n u e s .
M / S / C ( S t o n e / H e n d e r s o n ) t o a p p r o v e t h e :
1 ) M i d - Y e a r R e v e n u e P r o j e c t i o n s ;
2 ) B u d g e t a d j u s t m e n t s t o r e f l e c t t h e r e v i s e d M e a s u r e A r e v e n u e s o f
$ 1 4 , 3 7 6 , 0 0 0 a n d e x p e n d i t u r e s o f $ 7 , 0 6 5 , 0 0 0 ;
3 ) B u d g e t a d j u s t m e n t s t o r e f l e c t t h e r e v i s e d L o c a l T r a n s p o r t a t i o n
F u n d ( L T F ) P l a n n i n g r e v e n u e s o f $ 7 4 7 , 7 2 8 a n d e x p e n d i t u r e s o f
$ 7 4 7 , 7 2 8 ; a n d
4 ) F o r w a r d t o t h e C o m m i s s i o n f o r f i n a l a c t i o n .
1 3 . F I S C A L Y E A R 2 0 0 6 / 0 7 L O C A L T R A N S P O R T A T I O N F U N D A N D ` - M E A S U R E A
R E V E N U E P R O J E C T I O N S
M i c h e l e C i s n e r o s r e v i e w e d t h e p r o j e c t i o n s f o r t h e L T F a p p o r t i o n m e n t ,
M e a s u r e A a n d t h e r e l a t e d a l l o c a t i o n s .
M / S / C ( T a v a g l i o n e / S t o n e ) t o a p p r o v e t h e p r o j e c t i o n s f o r t h e :
1 ) L o c a l T r a n s p o r t a t i o n F u n d ( L T F ) a p p o r t i o n m e n t f o r t h e W e s t e r n
R i v e r s i d e C o u n t y , C o a c h e l l a V a l l e y a n d P a l o V e r d e V a l l e y a r e a s ;
2 ) M e a s u r e A a n d t h e r e l a t e d a l l o c a t i o n s ; a n d
3 ) F o r w a r d t o t h e C o m m i s s i o n f o r f i n a l a c t i o n .
Budget and Implementation Committee Minutes
January 23, 2006
Page 6
14. AMENDMENT TO FISCAL YEAR 2005/06 MEASURE A CAPITAL
IMPROVEMENT PLAN FOR LOCAL STREETS AND ROADS FOR THE CITY OF
PALM SPRINGS
Jerry Rivera, Program Manager, briefly reviewed the request from the city of
Palm Springs to amend its FY 2005/06 Measure A Five -Year Capital
Improvement Plan for Local Streets and Roads.
M/S/C (Henderson/Stone) to:
1) Approve the amendment to the FY 2005/06 Measure A Capital
Improvement Plan for Local Streets and Roads for the city of
Palm Springs as submitted; and
2) Forward to the Commission for final action.
15. STATE AND FEDERAL LEGISLATIVE UPDATE
John Standiford, Public Affairs Director, presented an overview of the State
of the State Address including the bond proposal and projects that will
benefit Riverside County, as well as SB 1165 and AB 1838. He updated the
Committee on the status of Proposition 42 and the federal transportation bill
related to goods movement. He then provided details for the Governor's
press conference being held today on the infrastructure in the Inland Empire.
M/S/C (Stone) to receive and file to the commission to:
1) Approve the following bill positions:
SB 1165 (Dutton, R-Rancho Cucamonga) — SUPPORT
AB 1838 (Oropeza, D-Long Beach) SUPPORT;
2) Receive and file the state and federal legislative update; and
3) Forward to the Commission for final action.
16. ITEMS PULLED FROM CONSENT CALENDAR
No items were pulled from the consent calendar for discussion.
17. ELECTION OF OFFICERS
Chair Bob Magee opened the nominations for the 2006 Budget and
Implementation Committee Officers. Commissioner Henderson nominated
Commissioner Stone as Chair and Commissioner Barbara Hanna as Vice
Chair of the 2006 Budget and Implementation Committee.
Budget and Implementation Committee Minutes
January 23, 2006
Page 7
M/S/C (Henderson/Tavaglione) to elect Commissioner Jeff Stone as
the Committee's Chair for 2006.
M/S/C (Henderson/Magee) to elect Commissioner Barbara Hanna as
the Committee's Vice Chair for 2006.
At this time, newly elected Chair Jeff Stone assumed the chair.
18. COMMENTS BY COMMISSIONERS/STAFF
• Eric Haley stated the importance of the Commissioners attendance for
the special Commission meeting today involving funding for State
Route 60 - Valley Way to Interstate 15 widening and the State
Route 91 - Green River Road interchange improvement projects.
• Commissioner Magee welcomed the two newest members to the
Committee, Commissioners Alex Bias and Steve Adams.
18. ADJOURNMENT
There being no further business for consideration by the Budget and
Implementation Committee, the meeting was adjourned at 9:10 a.m. The
next meeting of the Budget and Implementation Committee is scheduled for
February 27, 2006 at 9:30 a.m.
Respectfully submitted,
Jennifer Harmon
Acting Clerk of the Board
"
A G E N D A I T E M 6 A
"
"
I
R I V E R S I D E C O U N T Y T R A N S P O R T A T I O N C O M M / S S / O N
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County Administrative Center
4080 Lemon Street, 4th Floor - Capital Markets
Riverside, CA 92502-2205
www.countytreasurer.org
(951) 955-3967
4
County Administrative. Center
Investment Objectives
• Safety of Principal
• Liquidity
• Public Trust
• Maximum Rate of
Return
COUNTY OF RIVERSIDE
December 2005
Treasurer's Commentary
LC
It Was the Best of Times, It Was the Worst of Times"
Looking back on the past year, we see that many of the economic
gains made in 2004 continued: GDP and employment growth maintained solid,
if unspectacular, paces; consumer confidence rebounded quickly from oil price
shocks and the horrors of Hurricane Katrina; and a series of Fed Funds rate
hikes appears to have kept inflation in check. These trends are expected to
continue, boding well for economic prospects in 2006.
There are ominous clouds on the horizon, however, because a num-
ber etmonsters; some of which plagued the Americah economy in 2005, could
rear their heads. The -price of energy skyrocketed last year and global demand
continues to be insatiable; supply disruptions from natural disasters, conflict, or
political instability in oil -producing regions could -therefore have negative eco-
nomic impact. Another possible setback to the American economy could be the
end of the housing boom that has provided much of the growth since the FOMC
cut rates to historical lows a few years ago. The marked decrease in new
home sales in November is the latest proverbial nail in the coffin, leading to
speculation regarding the consequences. Other concerns revolve around the
high level of US debt an increasing proportion of this debt is held by foreign
central banks and any diversification by these parties could injure the U.S.
economy. Also, an avian flu pandemic remains a possible economic and public
health nightmare.
Finally, the US Treasury yield curve inverted recently, with long term
rates dropping below short term rates. While an inverted yield curve does not
always indicate a recession, it has been a harbinger for each of the last six
recessions, causing pessimism about what the market -thinks of the direction of
the U.S. economy.
Paul McDonnell
Treasurer -Tax Collector
V lIACautzge.--
t,
Goods Orders -for
vs. 1.2% survey
A i4
Dec29th
_k
Durable
4.0% actual
Gross Domestic
Product (GDP) -for Decem-
4.1°% actual vs. 4.3°%survey
ber 21st
Consumer Confidence— Index -December
28th 103.6- actual vs. 103:Osurvey
Factory Orders -January 4th
2.5% actual vs. 2.4°%survey
Unemployment Rate- for December 2nd
5.0% actual vs. 5.0%survey
At month's end, the Fed Funds rate
was 4.25%, with a balanced bias. The
2 year T-Note was yielding 4.40%
(down 1 bp.) while the 10 year T-Note
was yielding 4.39% (down 9 bps.) For
October, the Pool had anincreaseof
20 bps. in the average monthly yield.
Portfolio Statistics
.''December
N6nth-Ind Book Value j $ 4,010,003,925 $
rpath-End Market Value a $ 3,991,492,902 $
raperr Gain(Loss) I $ (18,511,023) $
;Percent of of Paper Gainor Loss 0.46°6�.�.
%[ -�
j Yieki Based Upon Book Value - �m 3.77
rWeghted Average Maturity (Yrs) I
McdiFied Duration 0.68
'Market values does not include accrued interea1
November - October..
3,357,203,054
,208,631,129 l
3,337,385,542 : $- 3187,968,021 ; $
(19,817,512) ' $ (20 663,108)1$
D 59°70'._..�. -0 64%i
3.577 3.48
......_...... 0.77 078i -.
0.73i 0.743
September- _
3,292,113,524 3 $
3,274,356,759
August -July
3,099,360,588 ( $ 3,067,073,774
(17,756,765)
$
-0.54%
3.37`
0.79�
0.75,
3,086,651,772 I $ 3,049921,183 i
4� �.
(12,708,816), $ (17,152,592)j
-0.41% 0.56%i
....W 3.251_mmm 3.11;
_....0 80 0.79
0.73 ........__. 0.75;
THE RIVERSIDE COUNTY TREASURER'S POOLED INVESTMENT FUND IS CURRENTLY RATED:
Aaa/MR1 BY MOODY'S INVESTOR SERVICES
AAA/V1+ BY FITCH RATINGS
5
Portfolio Characteristics
SECTOR
Federal Agency
Cash Equivalent & MMr
Commercial Paper
Negotiable CD's
Medium Term Notes
Municipal Bonds
Certificates of Deposit
Local Agency Obligation
Total
Cash Egwvalent 8 M
5.39%
Market Value
2,656,831,626
215,000,000
590,328,359
400,002,206
20,027,900
82,547,811
25,000,000
1,755,000
3,991,492,902
30 days or Less[ 833,630,051.65
30 - 90 Days 959,158,843.31
90 Days - 1Year
1,054,253,398.30
1= 2 Hears..................................................5
727,775,244.8
414, 920, 363.80
1, 755, 000.00
3,991,492,902
24 Month Gross Yield Trends
Page 2
CREDIT QUALITY
Federal Agency
AAA
A-1/ P-1orbetter
(
N/R
2.57%
Market Value
2,656,831,626
102,575,711
1,030,330,565
201,755,000
3,991, 492,902
Federal Agency
66.56%
30 days 30 - 90 90 Days - 1 - 2 2 - 3 Over 3
ar Less Da s 1 Year Years Years Years
6
Market Data
12/30/05 11/30/05 Diff.
3 M 4.074 3.931 .1425
6 M 4.369 4.298 .0715
2 Y 4.400 4.407 -.0072
5 Y 4.350 4.411 -.0612
10 Y 4.391 4.484 -.0929
30 Y 4.535 4.693 -.1579
* Treasurer's Institutional Money
Market Index (TIMM)) is compiled
and reported by the Riverside
County Treasurer's Capita! Markets
division. It is a composite index
derived from the average of three
multi -billion dollar AAA rated Prime
(funds that invest in a diversified
portfolio of U.S. dollar denominated
money market instruments includ-
ing U.S. Treasuries, government
agencies, bankers' acceptances,
commercial paper, certificates of
deposits, repurchase agreements,
etc.) portfolios that the Treasurer
tracks. Further details available
upon request.
Tress ur .e spooled Investment Fund
, November 30,2005
Month End Portfolio Holdings Report
CUSIP
PAR
DESCRIPTION
CASH - UBOC DEPOSIT ACCOUNT
150,000,000.00
CLTR- CALTRUST SHORT TERM FUND
COUPON
MATURITI
BOOK VALUE'
150,000,000.00
PRICE
M. VALUE'
150,000,00600
GAIN/LOSS
LD
AT
M Du
4.09 0.09 0.09
26,000.000.00
CPC.- COMMERCIAL PAPER - DISCOUNT
,t1Fi$ @€4 u;G'rA1 : '!'t '„Ot -" .i`sw
1667X1A48 50,00000000 CHEVRON AI+/Pi/Fi 4.00 1/4/2006 1.1 11
1]30]SAH5 50000.000 OD CITIGROUP M./Pt/Ft 415 1/1712006 49,648,402]8
90262DAK1 4400000000 UPS FINANCE AI+/60/61+ 4.21 1/19/2006 43277,16444
64105HAP7 50000000 OD NESTLE AI+/PIIF1+ 622 423/2006
06737J4%3 6080000000 BARCLAY'S 41+/P1161+ _ 428 1/3112006 49,70277778 1 49,702,77778 - 4.31 0.09 0.09
36959JC19 50,00000000 GENERAL ELECTRIC AI+IP1/Ft+ 4'96 y112006 49, 82,166 67 9916 49,582,16667 4.40 17 0.17
4 9
594,000,000.00 590328,958,89 590,328,358.09 4.27 0.08 0.08
FFCB - FED FARM CREDIT BANK
westuffimonownv000tew
31331564/2 6,00000000 FED FARM CREDIT BANK 1.54 c 2,50 y612008 5,000.00000 10000 500000000 - 2.50 18 00 8
BBM",..-t=¢tea ,PB016�.W .... 1
31331TKP5 5000,000 OD FED FARM CREDIT BAN_K55YrNc6Mo 265 SI1912006 5,000,00000
313315255 10,000,000 OD FED FARM CREDIT BAN K14R4c
li t 'A2 ; . cif
31331SKN2 5000000 OD FED FARM CREDR 9ANK1.54rN4 100 &272006
Ailtntte• tf
313315MX8 10000000.00 FED FARM CREDIT BAN K1124
...�4 � �..,w.. ., ..
31331 7/F5 5,110,00000 FED FARM CREDIT BANK 24r4c6Ma 3.20 8192006 5,110,00000 9910 5066,8]160 4
7 ....
31331T6W6 5,000,000.00 FED FARM CREDIT BANK 2WNc 260 9!]/2006 4996,700.00 98.63 4931,25000 (6545000
r31331VAK2 3000000 DO FED FARM CREDIT BANK1254c ?4.0] 10/30/2008 500000000 9947 497345000 12655000407 0.82 083
31331T9N0 5000.00000 FEG FARM CREDIT BANI(3YrNc3Ma_ 3.02 11I212006� 5 000,000 00 9650 �4,927 ,000.00
91331SYH0 5.000,000'00 fED FARM CREDIT BANK15WN431/10 _ 3.78 12/1/2006 5.000.000.00 99.13 4,956.250.00 43,]50.00 3.78
313315A46 10000,000.00 FED FARM CREDIT BANK1.5YrNc 3.63 12/132006 10,000,000 OD 989] 9896,90_000 109,10000
313315KJ1 5,000.000.00 FED FARM CREDR BAN K2YrNc6Mal% 3.27 1/122007 5,000,000,00 98.50 4,925,000.00
31331SMY6 10,000,000 DO FED FARM CREDIT BANK2YMa3Mo 3.52 1/26/2007 10,00000020 98.72 9871,90000
313315ME0 5,000,000.00 FED FARM CREDR BAN K2.25YrNc3M 3.63 U1912007 5,000,00000 9056 4928,150.00 71,850.00
3 3.75 5I25/2007 4,996,87500 98.60 4,932800.00 64,075.00
z ..' 000
3 Mct 3.84 8R200] 5,000,00000 98.78 4939,05000 (6095000
418 020/2007 10,000,000,00 99.09 9,909,400.00 190,00000 4.18
3.65 8/10/2007 _ 5,000.000,00 66.31 4,915,650.00 84.35000 3.65 56 a 1.61
1331 SMNO 5,000,000.00 EEO FARMCREDIT BANK2.75444c9M 3.70 F 11//2007 600010000 98.19 4,90940000 90600_00 370 180 1.86
1331 VAE6 7,500.000.00 FED FANM CREDR BANK2.5•014v3Ma 4.54 3202008 7,495,31250 99.28 7,446,07.00 49237.50 4.57 2.13 224
13315X134 590000000 FED FARM CREDR BAN K3YMOkla ,4.34 5/192008 5D00.000.00 98.88 4,943,750 OD (5625D 00) 434 228 39
13315409
1331SZF3
5,000,000.00 FED FARM CREDR BANK2YINc
5000sio p FED FARM CREDR BANK211
331SR62 10.000,000.00 FED FARM CREDIT BANK2YMc3Ma
1331SM03 5.000.000.00 FED FARM CREDR BANK264 444.4.5
31VLG9
31331 SR39 loom 000.DO FED FARM CREDR BANK3Y4026Ma
313315263 10,000,000.00 FED FARM CREDR BAN
5.00000060 FED FARM CREDR BANK 2.44C
YrN Yr
31331S4V2 0,860,00000 FED FARM CREDR BANK3YMc1YriX
0,000.00
FHLB -FED HOME LOAN BANK
3133XSWDE 5.000000.00 FED HOME LOAN BANK1.75YrNc6Ma
91339YF1_1 1D,000000.00 FED HOME LOAN BPNK 2.5 YB143Mo
3133k5ZA9 5,000,000.00 FED HOME LOAN BANK5.754 c9Mol
3133X3D59 5.000.000.00 FED HOME LOAN BANK21111Nc
3133X8VH8 S1100000.00 FED HOME LOAN BANKi.]5Yrt1c9M01
3133X4MF5 _ _. 10,000,000.00 FED HOME LOAN BANK2YrNc3MoStec
31339YJL7 10.000,000.00 FED HOME LOAN BANK 29144rNp3M
X6MC7 10.000000.00 FED HOME LOAN BANK 2YrNc3Mo
25,000,000.00
49,86
49,75
11
3.54 6/ OD6 10.000.000.00
4 996. 60,00
99 32
99�0
9949
25,000,009 00
49,661,111 11
49 648,IO2 70
4
437P,164,44
99 51 49,753,8
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9
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ss zs
3.90 W2012008 10,000,000.00 892
9953,10000 _146,90000
;4:
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2840
(75,00000)
128 100.00
4.20
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418 005 005
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4.28 _ 0.05 0.05
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2.63
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0.91
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1.01
0.89
0.92
0.95
03
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28
38
41
1.50
045
0.49
0.57
O61
0.69
0
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1.55
470 SI23/2008 7,996.250,00 99.97 ],997.520.00 1,270.00 4.72 2.29 2.40
4.44 71182008 10,000.000.00 9894
455
008 9,987,500.00 99.16
4.62 9/8/2000
6,000.000 00
330805,344.97
99 25
327412,20475 3.68
t.]5 t/19/2006 5,000,00000 100.00 5,000.000.00
1.89 1/232006_ 10,000,00000 �10000 10,000,000,00
2.02 127/2006 5,000,00000 10000 5,000,00000
2.00 2/132006 4,990.550 DO 99.81 4.990.550.00
2.35 2/2212006 5,000.000.00 100.00 5,000,00000
3.00 y24Y2006 10 000 000.0 100,00 10,000,000 00
4/24/2006 10,000,060,40 99.22 9,921,900.00
2.10
2.44. 4/282006 10,000,000 00 99
9,931 300 00
9,893,800,00 (106,20000} 444 239 2.55
9,915,600.00 (71,900.00) 4.60 2,43
2.80
Jagn
4062,00000 (37,50000) 462 252 269
1.31
126
1.75 D.05 0.05
0.06 0.00
0.08 0.08
0.12 0.12
0.
2.34 0.23 0
(78.10000) 2.10 0.32 0.31
OD. 00 2.44 0.33 D32
1339X2L7 17.000,000.00 FED HOME LOAN BANK 3YrN43Mo 2.38 6J122006 17,000,000,00 99.00 16430.000.00 (170000.00) 238 045 0.45
133XE425 10,000,00000 FED HOME LOAN 13441(6M0Na 4.60 &202006 10,002.343.75 100.00 10,000,00000 2,34375 455 047 047
133)(ON6 25,000,000.00 FED HOME LOAN BPNK6MONc 4.45 6I202006 25,00000000 9996 2490/,500c00 1550000 4.45 0A4 049
1339XRJ5 20.000,000,00 FED HOME LOAN BANK3YrNc3Mo 2.11 6/ 02006 20,000.000,00 96.78 19,756.200.00 243,800.00 2.11 0.50 0.50
133X5PV4 5.000.000.00 FED HOME LOAN BANK225YrNc3Ma 2.03 61302006 4,991.40625 88,]2 4,935,95000 55,45625 211 a50 050
133XCG64 10000,000.00 FED HOME LOAN BANK1YrNc 3.88 7/7/2006 10,00000000 9963 9,962.50000 37,500.00 3.88 0.51 0.52
133X35G4 3.800,000.00 FED HOME LOAN BANK2.54Mc6Ma1% 3.00 ]I132006 3,BOO 000.00 99.16 3,767.928.00 (32,072.00) 2.69 0.53 DS9
313394FE7 13.0)0,000.00 FED HOME LOAN BANK 3YrNc3Mo 2.25 70242606 13,000,000.00 98.72 12893 7000 (166,53000) 2.26 056 046
7P>p I all
Treasurer's Pooled Investment Fund
November 30, 2005
Month End Portfolio Holdings Report
CUSIP
DESCRIPTION„ ..
33X5TG6 5800,000.00 FED HOME LOAN BANK225YMc3Mo 251 //g�728/2006
31339YP142 10,000,000,00 FED 140ME LOAN BANK3YrN43MoStep 2 75 7125/2006
664.34 @FIN7 5,066333136 A:-F tti
CDUPO
x4210illlElhesos
31339YR61 10.00000000 FED HOME LOAN BANK3YrNO3M05190 238
A •1:500, M 311K9W, mnem i
31.33X3HP1 10,00000000 FED HOME LOAN BANK25YrN03510 2.50
3133XA281 5.00000000 FED HOME LOAN BANK 151091c61210 338
31349948 066000000 FED HOME LOAN BANK 115YIN69Mr. 300
3141,041G{'frTE1,10kOMO LO.M96ANKay3Nr.10 •
313351YZJ9 15,00000000 FED HOME LOAN BANK325 YrN43161 250
",IJAMO x:S. ,�.•,..1�1e� „.k�a.AMAXAMPAAat lSiE'Ei1)TA4110.A&
MATUR
BOOK VALUE'
"r:2 E
PRICE
I kAt"` 1a ic,
.6,008000 00 98 51
-714.(9734 06dt4-F`'I SttiJIC IIII I
1U UOO.OUO 00
7/282008 10.000.000 00 98 97 _ 9096,900 0O (103.100.00)
81112006 9995,31250 9632 9,571900 DO (12361250
M. VALUE' '
8/18
813D/2006
9/112006
9/292006
YLO
GAIN/LOSS -MAi'
argsaarara ABM= PES.3
4.940 650 00
4.998,75000 9922 4,960,95000 (37,900.00
5000,000 00 98 94 4,946,900.00
•!ftG II OLI 4a5, 00C17-'
15 000,00U 00 98 53 14 779,65000 (220,
L'FIMOI(OKKOLOIC7I-='- 140 .0..
fessomoisitintow P,aoio.\',twLu ..... - a > z4%Y'1' Ni .Fn Qs-$ASMeAl,
3133X42J5 5,000,00000 FED HOME LOAN BANK1]5YrN49M41 323 9/292006 5,000,00000 9897 4,948,450 DO
LAR FED
3133XSSM1 5000000.00 FED HOME LOAN 8ANK2.SYrNc9M0 215 10/202006 5000,00000 9803 4,901,55000 (98.450.00) 2.15 0.80 0.80
00000�0 y0y0 pyFyEED�' HOME LOAN BANK25V Nr3Mo 242 10/272006 5,000,00000 9815 44,,940p7,,50000, ODDrg 9220000) 242 0.�8b2,,��yy R0.8822G
irWMibAG/i"mEl}:c:Y.:l %'>1 �' 1f 'Y,. � 4 P x w ''/0DY.x :Y{i�`Do: '�=„°.'rt'Y�fFAA•400. . . TMI �r-�Gc41,7" +**
3i 33XBLP8 5,000,y0µ00.00 FEO HOME LOAN BANK1.5YrNc3MOSt 385 10/272006 500000000 9,96D 4.984,400.00 15500.00) 400 0.91 0.82
� d dIAA A-1.1,1%),I tt FYk«Ok�Yb'a'�at-='ISISMI'Oa &- ••1ti.omot oo=),1r'.9IA � `�"s,'''ii 0` i), h.. i
3133X9718 5,000,00000 FED HOME LOAN BANK 2YrN 3Mo 310 11182006 500800000 9866 1932,80000 67,20000 310 0.85 086
3133X6RE8 5,000,000.00 FED HOME LOAN BANK2.5Yr9141Mo 306 11/172006 5,000.00000 9855 4,928,150.00 (71,850.00) 3.06 0.87 0.88
)184.40000
251 0.58 052
05l 05]
0.5] 0.57
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2.33
2.37
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22 OT4 0T5
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3133X22E4 5000 ODOM FED HOME LOAN BANK3YrN3MaStep_ 400 112012006 499531250 9934 4.96120000 (28,112.50 3.10 aas 089
3133X9D. ,4$�r i54 . W )ACME LOAN BANK
4?.�;1, 006
3133%9GD6 500000000 FED HOME LOAN BANK 2VMc1M0 3.23 111282006 S,000,OOO.OD 9866 4,932,800.00 (67,20000) 323 090 091
` 529195 51m➢0'EHtH40N.E 2i , '� _ ..':`011Yr.�1 241 ... R:TIk� `i$7ir"1�0*}4144$1131VA '
E 309 12/1/2006 500000000 9853 4926,550.00 (73,450.00 3.09 0.91 0.92
(k` yt+}wff6 v46i.cacsra+-"-m.'-n:Va' 'nrii K�PigOtr ..A ?Bali 1011)
275 t I 4,995000.00 9931
4,965,650n 422N�KK 00 (25950.00) 2,80 095 096 .
-ate01.a<rr.1IATIM I . 4 70 12129I2006 5,000.000 OD 9594 4.996,90500 (3100.001 4.70 1.00 1.00
3 20 2
csr a:
3 05 1
31337(9091] 5000000.00 FED HOME LOAN BANK2YrNc6Mc
33X99.923 6000000 CO FEDHOLOAN BANK239M431Aa
AVIA
33XE3H0 5,000,000.00 FED HOME LOAN BANK1YMc
E LOAN BANK2YrNc1Yr
E LOAN BANK225YM63
3133X8SR4 5,000,000.00 FED HOME LOAN BANK 225YM46Mo
3133X95946 2,40000000 FED HOME LOAN BANK226YrNc3Mo
ITT#4X10.1arklNl0l`ltil£d�"....
3133X8BEt 5000,000�TSFX/.
00 OW
HOME LOA�Nq BANK25YrNc6MoS1
':'[5zi4. •!A s.ku'sY % 104 - P
3133X02U4 5000.00000 FED HOME LOAN BANKI.5YMc1Yr1X
3133X4246 9,300000 OD FED HO
31
X13524
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10,000,00000 FED HOME LOAN BAN K2YMc6Mo1
3133X13JL0 500500000 FED HOME LOAN BANK 2YrNclYr
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3133X9203 5,000,00000 FED HOME LOAN BAANNK251'9146Mo
3133X5142 5000,000.00 FED HOME LOAN BANK309N43111oStep
IMOSW.t.i .m...>a....++m�..�
3133X6228 10.000.000.00 FED HOME LOAN BANK3YMC3Mo5ter_
3133X6H25 10,000,000.00 FED HOME LOAN BANK3YM 1M
3133X9HC7 5,000.000.00 FED HOME LOAN BANK25YrNc3Mo
3133XA3Bi 5000000.00 FED 9p.HO ttME LOAN BANK25YM46Mo
3133XCH0<. t0,OD0,000.00 FED HOME LOAN BANK2YMc1Mo
St
1
8,1555000D FED HOME LOAN BANK 2.5YM41YrrieratiMEIRMINI
XCY31 5,000,000 00 FED HOME LOAN BANK2YM410G1X
Y27 v_w 10,000.000 OD FED HOME LOAN BANK2.5Y0c1Yr
3133XD6G1 5000,00000
ittAIMIrS AWN
3133XDGCE 5,000,00091:1
ttLIAMBEENME
3133XDGC5 AAA.Ao.im
AIMArAtMire-_,M
3133XDGB1 1 000,000 D0
1
XCJS
XD2D2
4A4VE8r
XEIVA0
133 AYA9
FED HOME LOAN BANK2YMc1910
FED HOME LOAN BANK2YMC1YrlX
FED HOME LOAN BANK2YrNc1YAX
FED HOME LOAN BANK2YMc
5,000,000,00 FED HOME LOAN BPNK 2.25N40Mo
. .
5.000.000.00 FED HOME LOAN BANK2.2514c3Mc
5'00000000 FED HOME LOAN BANK tYMc
5,000000.00 FED HOME LOAN BANK 2.5YM46M0
10.000.000.00 FED HOME LOAN BANK 2.75 YrNc1Y
3133X9T5O0 500000000 AN BANK D HOME FE LOAN 3YMc1
fail. =.:-,�" . , .
3133)14E66 18000000.00 FED HOME LOAN BANK 3YrN43Mo
_ _A(89
3133XDVA6 5,000,000.00 FED HOME LOAN BA91K225YMc3Mo
X11..".11iMPAPtEKSTOMMIAMPOWAYM
3133XASMO 10,00000000 FED HOME LOAN BANK3YMc3M0
3133XC225 5.000,000.00 FED HO
E LOAN BPNK 2YM41Yr
c
142006
2006 4 995,000 00
IMMOMAMKORL
12007 7,916,28750
inCiattantettiVW
3.;z no./200T 5moon 00 98.89
4.
350 1/18/2007 q p0.999180000 9875 987500000 {106,80000 3600 }' 102 105
+�- ../4t`i}b 0 Matti+:4iYb!i1u[bF'YYYT W«L�Gia�i-A
3DO 122/2007 5,000.000 DO 9819 9909400.00 (40600.00J 300 105 106
3.18 2/16/2007 2,399,625 00 98 25 2,358 000 00 41,625.00) 318 1 11 1 19
4.00 3/9/2007 5800,00000 99.66 4,982,80000 17,20000 338 116 i19
4.30 3/19/2007 5800.000.00 99.41 4.970.3071.00 (29,700.00) 30 119 122
ts1'r'.eititaM41.11.000 G -_:.
30,0 3/30/2007 9,300,00000 9884 9,19260200 10],508.00 208 123 125
wit I 02 126
4.00 4I51200] 9 31 50 9906 9900300.00 (89,01250 /02 123 26
415 MiT 200T 500000000 9922 4960950.00 39.05000) 15 1,27 1,28
j'-tom=
325 4_25/2007 5,000 000 00 9809 4904,700.00 95,30000 325 _ 130_ 132
3.25 4l2]/200] 500006800 9806 490315000 96,850 GO) 2.82 130 132
300 I130/2007 990843750 9869 9,868,80000 020,63750 3.07
021 sI1112007 10800,000.00 97.97 9 _ {2D3100.00) 321 134 136
Si BI112007 5.000.00050 98.28
360 2/13/2097
4.30
75
4 38
4.00
435
9847 4,92345000 T1,550.00 325 0.99 1.00
96.31 7,786, 129,597.90� 3 0T 0 99 1 02
...:; 4,934,400.00 (65 fi00.00 00) 345 1:00 103
5,000,00000 9831
OVAIKKOVAIGt.e_2/20,07 10.000,000.00 9925
»e "Oa w
8/242007 8,15500000 98.44
9I1412007 5,900,000.00 99.34
9/242007 10.000,019500 9878
zOgrogitiffiGakiNirefttOr
9128/2007 5,000.000.00 9925 4,962,50000
89;60
4,914,05500 (85.950 OD 3.51
4915650.00 {84,35000
9.92500500 (75.00000)30
8.027518.90 (127.381.10)
4,96120000 32,800 00 4 38
9879A100.00 (121.900,00)
37 500.00)
1
9 42
]60 148 15
15
.75 1,60 165
64
4.00 1.68
5
4,50T �10/122007 .._ 4.996,693.75� 99.38 988,250.00 21,34375 _ 1l
4S0 10I1212007 5,000,000.00 B9.38 4968.150.00 (3125000 4.50 1.7
0252007 i,000,00500�99.63 99531000 4,fi90.00 4.63 1.76 1.82
J 185
1119/2007 S,000,000.00 99.16 4957,000.00 j42,200.00) 430 • 1T8 186
1/162007 •4,996,875.00 99.28 4.984550.00 32.825.00 4.45 180 1.88
1/16/2007 4,989,950.00 99.31 4,957,200_00 22,750.001 4.48 1 1 1.88
12/7/2007 5.000,000.00 � 99.03 4,951 (45490.00) 426 187 i_94
4.63
4. •
6.30
4.42
4.20
05
4 00
4.00
4.02
4.00
1.T4
1i78
1 78
7
1.]8
2/24/2007 1000000D.00 9872 9871900.00 128.100;00 405 1.92 1.96
2f.82007 5000,00000 98.56 /92849.00 Tt 85000 400 194 193
21412009 10 000,000.00 98.50 9,850,000.00 150,000 OD 4 00 2 00 2 10
4tXi kip'ffit,'d I i0 '= era,Ny-2 m
2128/2008 5,000,00000 99_69 4984,400.00 15,600.00 500 2.07 216
31142908 1000000000 98.44 9543.80000 (156,200.00) 402 211 220
annune�wva navxarva£.vmm.z�..%tt..
0/30/2008
5.000.000.00
98
4,906,250.00 (93,75000) 400 240 25D
I
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3133X9X96 5,00000000 FED HOM
30, W •
3133%8541 7,920,00000 FED HOM M
3133XAAHD 5.000.000.00 FED HOME LOAN BANK2YrNc1YrIX_
3133XAFD4 10005000 M FED HOME LOAN BANK2YrN1Y 1x
XA026
Treasurer's Pooled Investment Fund
Novem her 30, 200,5
Month End Portfolio Holdings Report
CUSIP
PAR
DESCRIPTION
OP 29Y.T7Zrr
3133XCIDF9 5.000.000.00 FE_c D HOME LOAN BANK3YrNc6M
3133XG346 5000,000.00 FED HOME LOAN BANK319Nc1Yr1X
AtMiterraftW60000WKIVASMO201,M11
3133XCS61 5,000000.00 FED HOME LOAN BANK3YrNc6Mo
xvuglssx<mrrt+-'sue �-'-
uar ��'
3133XCVK3 6.000000.00 FED HOME LOAN RANN3YrNc6M0
3XOUN9
5,000000.00 FED HOME LOAN BANK3Y2101Yr1X
1,079,160,000.00
FHLC-FHLB- MORTG. CERT.
FS6667019M6V16X69,221C
312122TU9 5000,000.00 FHLB -MORTG CERT2YrNC6Mc1x
3128X2ZV0 6,27900000 FHLB-MORTG CERT.2RNc3Mo 2]t 311512008 6.273,11 T.50
COUPON MATURITY BOOK VALUE` PRICE M. VALUE'
438 O11/2008 p y y { 5,000.000..000 Lyy.989
7/20/2008 5.000.000.00 99.06
4.75 8/16/2008 4,99750000
I.,SMO2DWATRANNO
69 9/9/2008 4,998E3790
�i,� a m
11/282006 500000000
D79,020,560.15
3126X3XEB 00000000 F
5
LB MORTG CERT. 1.5YrNc3Mo
3128X3A21 10,000,00000 FHLB- MORTG. CERT 2YrNc6M0
13
3128X3GT/�„„''a' 2 5.000.000.00 FHLB- MORTG. CERT¢YrNNc3Ma ,.�A+ 300 612/2006 5,00000000 9932
CIIr
3128X4CJ8 5,000,p0100 FHLB -MORTG CERT 1YrNc3Mo 3.70 020/2006 5000,000.00 99.5
3128X35U2
BeilliW
99.28
99.
99T5
2.15 2/t)2006 5,0p0000.00 100.00
99.9]
270 4/1212006 5,000,000.00 9947
2.22 4/27/2006 10,000.000.00 99.25
10000000.00 FHLB- MORTG. CE.RT3.15YrNc Lt 3.63 i0/118//2200L0Y6_ 999
3128X4UY5110.000000.00E FHLB-MORTG CERT 1YrNc3Mo 475 12/15/2006
UliSKOMMATARIAINISEIASSEKIW4
3128X3Z55 9000,000.00 FHLB- MORTG. CERT,2YrNc6Mo
2123y9N1 ...., 10a000.000.00 FHLB-MORTG. CERT 2191•16620
126x4c89 5,000,00000 FHLB- MORTG. CERT
WERE
128X4AR2 5,006000.00 FHLB, MORTG, CERT.1 75YrN
3128X4H07 5,000,000.00 FHLB
28X2ZB4 10 000,000 00 FHLB
128X22F1
3128X4BG
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3128X40Y4
3128%4GX3
3128)6522
28X4PX
28X4PXJ
3128XL5
3128XX 6H11
3128X4AJ0
3128X4VST
3128X4D
3128X4HK0
128XIST9
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3128X4VG3
3128X4VG3
3128X4VP3
10,000.000.0D FHLB-
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5,000,00000 FHLB-
10,000,000 OD FHH
5,000,00000 F FHLB-
5�5,001W000 FHLB-
5,000.00000 FHLB-
10,0�00,00000 FHLB-
5,000,000 00-FHHLLBB
5.000.000 00 �-
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10,000,000.00 FHLB-
5000.000.00 FHLB-
10,00600000 FHLB-
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6.000 000 00 FHB
5,000,00000 FHLB-
0,
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�6000,000.00 FHLB-
10000,00000 FHLB -
5,000.000.00 FLHLB-
ORTG CERT
ORTG. CERT
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00.TG. CERT
5YrNc
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MORTG. CERr.2.25YMcIX
MORTG. CERT.2YrNc1Yr
MORTG. CERT 2.SYrNc6Mo
MORTG. CERT 2YrNc111
MORTG. CERT 2YrNc1Yr1X
MORTG CERT 25VrNcbMo
MORTG. CERT 31299-6Mo
MORTG CERT 3YrNc3Mo5te
MORTG. CERT 25YrNc6Mo1
MORTG. CERT 3YrNc6MoSle
MORTG. CERT 3YrNc1Yr1X
MORTG. CERT 3YrN61Yr1X
MORTG. CERT 3YrNc1Yr1x
MORTG. CERT 3YrNc1)2176
MORTG. CERT .3YMc1111X
MORTG CERT 3YrNclVriX
128X4WY3 10,000,000 OD FHLB MORTG CERT 3YrNc1Yr1X
456,275,000.00
FNMA- FED NAT MORTG ASSOC.
36F3523 Z850,00000 FED NAT MORTG ASSOC. 25Yr8103M
36F45160 5.000000 OD FED NAT MORTG ASSOC 2YrNc6Mo
3597.1I1A9 5,000000 OD FED NAT MORTG ASSOC 2YR4c11D1x
36FSHO7 5,00000000 FED NAT MORTG ASSOC2Yr9191YrS10
5,000,00000 FED NAT MORTG ASSOC.2VrNciX
0.000,000 00 FED NAT MORTG ASSOC.2.25YrNc1Y
36F3T89 100000000D FED NAT MORTG ASSOC. 3YMc9Ma
359MYK3 ry 5,000.00000 FED NAT MORTG ASSOC .tYMc3Ma
36ft ¢4 10 000,000 00 FED NAT MORTG ASSOC. tYMc
36F5.R9 5,000000.00 FED NAT MORTG ASSOC.2.5Ye91619i
5,000.00000 FED NAT MORTG ASSOC_2.SYrNc6910
2/29/2006
355 22/2007
3.63 2/15/2007
4.01 21161200T 5,000.00600 99.15
4.25 2/28/2007 5,000,000.00 99.41
3.35 3l212007 10,000,00000 9840
250 4/5/2007 10,000,000.00 9).)3
5.000.000.00 99.19
9,986,852.00
5.000,000.00
5,000,000.00
OOO,000 00
4.00 9/2 2007 10.000.000.00
4.50 101112007 6,000,000.00
45D 007 _ 10r11nom 5,009,000.00
420 11/9/2004 5.000,000.00
4.18 3/28/2008 10,000,000.00
400 5/182008 5,000,000.00
500 6/16/2008 10000,000.00 99.9T
400 71112006 5,000,000.00 99.13
463 0/ 5/2008 5,000,000.00 99.49
4,90 11/3/2006 4,986,000.00
510 14/2008
2/
5 05 12/82008
5 05 12/8/200E
5 05 1ZI152008
92640 9028
10,000,000.00 99.88
4.15 _ 4/25/200]
4 6/26/200.
4.00 >I131200T
4.00 8/
D/200)
440y 6/22/20,07
5,000,000.00 98.60
0 972
0,000,000.00 98.72
4.s94,750.00 9e36
GAINlLOSS
YLD
MAT'
045,30021 (54,700.00) 438 T.3]
4.953,15100
Avg.
Life'
(97ir4io
2.53
2
46.860.00) 4 40 2 42 2 58
4964,05100 (33,450000) 4)) 246 263
50.00 (32,787.50) 4,70 �252 2.99
4.987,50000 (12,50000) 5
1065,524,17605
5.000.000.00
6273,i tT 50
69]3550.00 (26450.00) 2)0 0.28 028
9.925.E 00.00 ]4,900 001 2 22 03 0 32
e� 42
4,966,i50.00 (33,850.00 300 0.42 042
.50
4976.550.00 23.450.00 970 0.50
40
9,928,10000 (63,82640) 3fi8 OTO
0 50
0 ]1
998)90000 (12100005 475
4,930,05D 00_ 69,20 00 3 35 0 99 1 DO
c....
9872300.00 (12],]0000)_- 355 1.06 _109
4,938,000.00 56,75000 369 it 10 1 U
4,95),)0000 42,30000d 01
4870.600.00 (29.400.00) 4,25 - 1.13 116
='
9,840,300.00 169,T0000 289 116
.. _ _ :..�...2
9,))3,300.00 (226,]00.00) 211 49 4 126
4,959,350.00 4065000 415 129 132
9895 9,895,30100 90,552.00)
98.89 4.944,350.00 55,650.00 4.00 1.48 1b
98.76 62.20000 400 157 16
99.30 35.00.00 440 �1.98 1,6
98.54
99.299.2
96.87
99.74
99.61
4,937,800.00
4.905,000.00
9.854.000.00
t 960,600_00
4,960,600.00
39400.00
4,943.350.00 m (56,65000) 420 180� 186
0874000_00 12600000 418 2V14 224
4.901.050.00 (10950.00) 4,86 m086 �2,36
3.36
105 09
2,15 0.13
01
0 20 0 20
O
0.95 096
2 142 149
46,000.00 4 00 1.67 1-7
4 R
39,400.00) d 50 172 1 78 l8
1
9,996 500_00
4,950,400.00
4,974.350.00
99.66 4,982,85000
9,9960)500 9993 9,982,700.00
5,000,000.00 100.09
0 000.000.00 100.09
5000000.00 99.97
5,10 12/292008 10,000.000.00 100.19
456,180790.90
200 1/302006 7,846,t53.50 9995
217 2Ii12006 5,000.000.00 100.00
225 2/282006 6,000,000.00 100.00
300 329/2006 5,000,00000 10000
2.10 4/192006 5.000.00a.a0 99.28
2.13. &15/2006 9,998,137.50 96.91
225 7/28/2006 10,o00,00000 98.97
4.05 8/142000 A 5.000.000.00 99.66
4.00 8/ 82006 10,000,000.00 99.59
207 9/29/2006 5,000,000.00 98.13
2.13 1252006 5.000,000.00 98.13
3 00 00 55 00 v
(43.60000 1.4] 2.5
2565000 463 2.46 263
3.150.00 600 2,67 285
(16,1 75.D01 511 2.69 Z88
5.0043D0.00 4,30000 505 0.93 294
0,008,60000 800000 5OS 0.93 294
1.998950.00 1,450.00) 5,05 2.78 296
10,011900.00 19,500 00 510 0 99 3 00
453,262,417.50 4.01
7,846,153.50
5,000,000.00
5,000,00000 2.25 016 016
5,000,000.00 2,19 0.24 0,24
4.964,050.00 35,960.0D 210 O.0 '030
9,89060000 1D7,83)50 213 046 0.46
it
9,886,80000 510310000)._ 233 657
4.962,800.0011,200.00 405 061
9,959 400.00 Sop 600.00) 4 00 0 62 0.6
4,906250.00 (92750.00 2.07 0.74 0.75
4,906,250.00 (93,750.0D) 2.13 0.76 0.76
124 1.57
2 02 0.08
21l 0.1
9929e4 T4
Treasurer's Pooled Investment Fund
November 30, 2005
Month End Portfolio Holdings Report
CUSIP
I: PAR ^.-..:..'..
3136F5MD0 10,00000000 FED NAT MORTG ASSOCW/Ncl YrSle
,.. ;:ITM000iUU601i$00a .445.2565 seeS`.•WKFT-O!
3136E7E139 5,00000000 FED NAT MORTG ASSOC2105133M0
3136F7LT2 5000000.00xFED NAT MORTG ASSOC210883Mo 4.75 10/25/2007 5,000.000.00 99.6
COUPON
MATURITY
-BOON VALUE'
PRICE
250 4/12/2007 1000000000 97.69
44854547- 5:80079T
425 7/271200 r 4995,312 33122 50 _ _ 99.19
3155900Q 5,000.00000 FED NAT MORTG ASSOC2YNY1 1X 490 111/28/2007 500000000 9994
!kt#5,M9 .$ S.x.;SYa t csiti }..ate, 11V r 03M148Ta. 0
3136F7EE1 5,00000gq0ap.44 FED NAT MORTG ASSOG2YeNe1Yr1X 4.88 12/28/2007 5000,000.00 9994
�p
3136AFE2 1603000000 FED NAT MORTG ASS0025Yr71411.0 430 1/2812008 1000000000 99.06
'3`Y IMj6. 00 Yk irtk_.` .fib. , dIM.1Y31 MOWO O.
31365761TO 10,00060000 FED NAT MORTG ASSOC 3YrNc1191X 500 11/2E02008 10006000.00 9994
3136F7PP6 5,00000000 FED AT MORTG ASSOC 31051017r1% 510 12/19/2008 500000000 10009
5,0..
5,000,000,00 FED NAT MORTG ASSOC 3YIN tY 1% SID 12119I2008 500000000 10009
_.n..,.., ......mow. ' 48701008532745PM50em�rw
t 21>9I2008 10,000600.00
289,5O7.167162.5656
36F]PP6
=SWOT
3136F70510 10,000.000.00 FED NAT MORTG ASSOC. 37r561361%
289,625,000.00
FNMO FNMA DISCOUNT NOTES
313589SG9 50,000000.00 FNMA 01
313d
313589%E6
48000,000.00 FNMA DISCOUNT NOTES
106000,000.00
FRMC -FEDERAL HOME LOAN MORG CORP DI
4 _ .
313387RZ6 SO 900000.00FEDDE�RAL HOME LOAN
19
oRG CORP DI
313397302 50,000 000 00 FEDERAL HOME LOAN MORG CORP DI
154
31339]TR2
313397UG4 -- 20,000,90000 FEDERAL HOME004N MORO CORP DI
30,000.000.00 FEDERAL HOME LOAN MORG code m
326,000,000.00
LAO- LOCAL AGENCY OBLIGATIONg
826000.00 US OIESTRICT COURTHOUSE
1,755,000.00
MTNO - MEO TERM NOTES
931142088 10.000.000.00
20,000,000.00
MUNI- MUNICIPAL BONDS
99.91
GAIN7LOSS
LD
MAT'
9,768,800,00 (231,200 00) 2
4 959.400.00 (25 912.50) 4
4 982,800.00
26
28
300 151 1 5]
11,200.00) 475 1.75 182
4,996,900.00 (3 1 00110)4 90 1 84 1.91
4,996.900.00 (310000) 488
1.92 1 99
ODIT.5._'iT`&`.'
90630000 (9370000) 430 197 208
O UK
9,8003380000- h- 1620000) 500 273�22911
096 29T
Yr
.�4,,,7700ry00yV00y�-..� �+±!!���µµ510 096 297
OMM
9,990600.00 (940000) 510 2.82 300
288,048,821.81 3.58 1.14 1,32
004,700.00 470000 _.410
5.004 ]00.00
�419 1I26J2006 49714.647.22 9943 _ 49 ]1484722 421 007 ODT
4.36 5/24/2006 47,152.032.00 98.27 47,169,600.00 17,568.00 443 M0.40 040
166665,715.33 186,899,743.33 4.32 0.23 0.23
406 1/1922006 4963911111 9928 49539011.11
9
411 2I112006 495>239583 9914 dB 572,395.83
M y 441700467577, "W ,d
424 2/28/2006 29699,3,83.33 9900 29699,383.33
4.28 311512006 1919708809 98.99
392,284,25944
4.37 6/15/2020 820,000.00 103.00
1,755,001E00
19.797008.89
332,204,259.04
820,000.00
1,766,000.00
409 .. _-�6.6
a
009 009
429 0.16 016
he*IIMiro
632 020. 020'
4.10 0.10 0.10
0.37
MOMMAfg
1062 14.4T
7.90 1025
71 6/1/2006 10,182,400.00 100.26 10,027,900_00 (15450000) 3]2 043 U-42
20,182,400.00
20,027,90600 2.86
0.25 0.25
9873888C8 1,08000000 YOSEMITE CA CMNT COLLEGE AANA 3.72 01I2006 1980675.60 99.46 1674,I TB.BD (589680) 370 OST
,Coo 11/15/2006 19 000 000.00 99,38 18 881 820.00 118180.00 4.00 0.87
768903E88 1000.000.00 RIVERSIDE CNTY ASSET AaaIAAA 3.35 W1/2007 98
99D 34000 984 9016Fi000 (8,680.00 386 1.90 1.42
9873885106 1,35000000 YOSEMITE CA CMNTCOLLEGEAANPaa 393 8/11200T ,.__...1950,23600 86 1934.542.50 1567050) 392 152 159
p
1309t1D49 19.000000.00 CSCDA AAA/
76886PAV5 1,545,000.00 ROO GO BONDS 200484A-/AD
83,035,000.00
NCO- NEGOTIABLE co
949TP4HWE
T8010FH06
i88
780091/MA11
50000,00000 WELLS F_ARGO
5000000000 RBS GREENWICH
60,000.000.00 ROYAL BANK OF CANADA
8336P0JF0 �50,00600000 SOCIETE GENERALE
400,000,000.00
REPO- REPURCHASE AGREEMENT
40,000,000.00
TCD-TIME DEPOSITS
5,000 00000 CITA
25.000,000.00
4,018,710,000.00
1. I le nWMtl value aM „eN of shorue :unmey 044cet Ssaeikes 3rabace5m ON Wm' be Vim,
2. Aver OP Me eaMitl 15anumber of yeas UM ppel Is returned et:nVI9valU:iy. y1Ud by „eukel value.
3, LrcL Agency C4lytivrn have veneble rate coups. spread 10Fool.
4. MmaMeueun bBe peleenlpe qke rlwge as seall[y M a change n Veld.
The Ague. Re nvphd burarm of security. Ne kN1CrIM risk
0.5D
0 88
63 811rz007 3,060.81100 9826 1647,810.90 (32,69220) 3.49 L53 159
83,OW,052.1D 82,SOT,Bt0.90 3.09 0.69 669
414 1/12/2006 50,0000000D 100.00 500/1060000
�� ,7 -S1
4 31 2/28/2006 50 000 000.00 100,00 50 000,000 00
d 40 3116/2006 50,000,831.79 100.00 50000,631 79
441 3/28/2000 50,000,7199 100.00 50600.719.92
400,002,206.44
26,000000.00
4,010,003.924.88
400,002,206.41
25,000,00000
3,991,492,901.01
414 �0.04 0.04
s _ r ='
431016 0.16
4.40 0.21 0.21
4.46 024 0.24
4.32 0.14 0.14
4,27 0.19 0.10
9.87 0.60 0.74
�pe4M1
"
A G E N D A I T E M 7
"
"
B U D G E T A N D I M P L E M E N T A T I O N C O M M I T T E E
D A T E :
F e b r u a r y 2 7 , 2 0 0 6
T O :
B u d g e t a n d I m p l e m e n t a t i o n C o m m i t t e e
F R O M :
B i l l H u g h e s , B e c h t e l P r o j e c t M a n a g e r
G u s t a v o Q u i n t e r o , B e c h t e l P r o j e c t C o o r d i n a t o r
T H R O U G H :
H i d e o S u g i t a , D e p u t y E x e c u t i v e D i r e c t o r
S U B J E C T :
A w a r d A m e n d m e n t N o . 3 , A g r e e m e n t N o . 0 2 - 3 1 - 0 4 3 - 0 3 t o C H 2 M
H i l l f o r t h e P e r f o r m a n c e o f P r e l i m i n a r y E n g i n e e r i n g S e r v i c e s f o r t h e
P r e p a r a t i o n o f a n A d m i n i s t r a t i v e D r a f t P r o j e c t R e p o r t a n d
E n v i r o n m e n t a l D o c u m e n t f o r t h e S t a t e R o u t e 7 9 R e a l i g n m e n t
P r o j e c t
S T A F F R E C O M M E N D A T I O N :
T h i s i t e m i s f o r t h e C o m m i t t e e t o :
1 ) A w a r d o f A g r e e m e n t N o . 0 2 - 3 1 - 0 4 3 - 0 3 ( A m e n d m e n t N o . 3 t o M a s t e r
A g r e e m e n t ) t o C H 2 M H i l l b a s e d o n t h e n e g o t i a t e d p r o j e c t s c o p e ,
s c h e d u l e a n d c o s t t h a t i s a t t a c h e d t o t h i s a g e n d a i t e m f o r t h e
R e a l i g n m e n t o f S R - 7 9 i n t h e v i c i n i t y o f t h e c i t i e s o f S a n J a c i n t o a n d
H e m e t f o r t h e d e v e l o p m e n t o f a n A d m i n i s t r a t i v e D r a f t P r o j e c t R e p o r t
a n d E n v i r o n m e n t a l D o c u m e n t ( P R / E D ) ( t h e P r o j e c t ) . T h i s A m e n d m e n t
w i l l n o t i n c r e a s e t h e c u r r e n t l y a p p r o v e d n o t t o e x c e e d a m o u n t f o r t h i s
c o n s u l t a n t s e r v i c e s c o n t r a c t . T h e r e v i s e d s c o p e o f s e r v i c e s w i l l b e
f u n d e d b y r e s c o p i n g t h e P r o j e c t b a c k f r o m t h e c o m p l e t i o n o f a f i n a l
P R / E D t o t h e c o m p l e t i o n o f t h e A d m i n i s t r a t i v e D r a f t P R / E D b y t a k i n g
t h e a c t i o n s n o t e d b e l o w i n r e c o m m e n d a t i o n s 2 a n d 3 ;
2 ) A u t h o r i z e t h e u s e o f t h e c o n t i n g e n c y f u n d s i n t h e a m o u n t o f
$ 1 , 8 0 7 , 8 7 3 t h a t w e r e e s t a b l i s h e d b y A m e n d m e n t N o . 2 ( A g r e e m e n t
N o . 0 6 - 3 1 - 5 1 6 ) t o f u n d a p o r t i o n o f t h e a t t a c h e d n e w l y d e f i n e d s c o p e
o f s e r v i c e s t h a t w i l l b e r e q u i r e d t o t a k e t h e P r o j e c t t o t h e
A d m i n i s t r a t i v e D r a f t l e v e l o f t h e P R / E D ;
3 ) A u t h o r i z e t h e r e a l l o c a t i o n o f t h e e x i s t i n g s c o p e o f s e r v i c e s t h a t a r e
c u r r e n t l y v a l u e d a t $ 1 , 4 2 8 , 6 3 9 f r o m a p p r o v e d A m e n d m e n t N o . 1
( A g r e e m e n t N o . 0 5 - 3 1 - 5 3 2 ) t o f u n d t h e r e m a i n d e r o f t h e r e v i s e d
s c o p e o f s e r v i c e s d e f i n e d i n A m e n d m e n t N o . 3 t o t a k e t h e P r o j e c t t o
t h e A d m i n i s t r a t i v e D r a f t l e v e l o f t h e P R / E D ;
4 ) A u t h o r i z e s t a f f t o w o r k w i t h t h e c o n s u l t a n t t e a m t o d e v e l o p a r e v i s e d
s c o p e o f w o r k t h a t w i l l m o v e t h e P r o j e c t f r o m t h e A d m i n i s t r a t i v e D r a f t
l e v e l t o t h e f i n a l P R / E D ;
1 1
5) Authorize the Chairman, pursuant to legalcounsel review, to execute
Agreement No. 02-31-043-03 on behalf of the Commission; and
6) Forward to the Commission for final action.
BACKGROUND INFORMATION:
At the February 13, 2002 Commission meeting; the Commission approved
Agreement No. 02-31-043 to CH2M Hill. The scope of work for this contract
included preliminary engineering services for the preparation of a Project Report and
Environmental Document for the State Route 79 realignment project. The
authorized amount for Agreement No. 02-31-043 was $1,994,497 and the
anticipated contract duration was 24 months. A notice to proceed was issued on
April 18, 2002.
In December 2003, collectively, the resource agencies agreed to the final purpose
and need- and in June 2004 they also agreed on the final project criteria and
alternatives selection for preliminary agreement to finally move the SR-79
Realignment Project into the Project Report and Environmental Document (PR/ED)
phase. Public involvement has been maintained through information meetings and
the required scoping meetings that were held in both the cities of San Jacinto and
Hemet as well as the community of Winchester. Riverside County residents within
the project limits, but outside of the city limits were also invited to participate in
the various meetings.
Through the end of November 2004, CH2M Hill had expended approximately
$1,400,000 of this contract over a period of 31 months. The project had achieved
preliminary agreement from the resource agencies on the alternatives to be
analyzed in the environmental document. However, significant work remained
because of the intense development pressure that has impacted the project area
and the fact that the locally preferred alternative impacts a sensitive vernal pool
complex. Because of the above issues, changes to the alignments continued. To
date, there is still no consensus on what would be acceptable to the resource
agencies for the city of Hemet's locally preferred alternative that generally follows
the east side of the San Diego canal. To address this issue, the Project has agreed
to study a larger area along this portion of the alignment to allow for future
adjustment without requiring additional technical studies to be performed.
At the January 12, 2005 Commission meeting, the Commission approved
Amendment No. 1 for $13,158,654 bringing the total contract value to
$15,153,151. Amendment No. 1 included new tasks to be completed that were
not contemplated after the completion of the Project Study Report (PSR). When the
PSR was completed, only two alignment alternatives were anticipated to be studied
and carried forward into the development of a PR/ED. When the technical studies
•
12
"
"
w e r e l a u n c h e d d u r i n g t h e w i n t e r o f 2 0 0 1 , t h e r e s o u r c e a g e n c i e s r e q u e s t e d t h a t
a d d i t i o n a l b u i l d a l t e r n a t i v e ( s ) b e i n c l u d e d i n t h e e n v i r o n m e n t a l d o c u m e n t s u c h t h a t
s e v e r a l p a t h s t h r o u g h e a c h a r e a w o u l d b e e v a l u a t e d . F r o m t h i s r e q u e s t , a d d i t i o n a l
s e g m e n t s , a l t e r n a t i v e s a n d a l i g n m e n t s w e r e a d d e d t o t h e p r o j e c t t o c r e a t e a m o r e
r o b u s t s u i t e o f a l t e r n a t i v e s t o b r o a d e n t h e c h o i c e s a v a i l a b l e i n t h e a l t e r n a t i v e
s e l e c t i o n p r o c e s s a n d i n c l u d e s e v e r a l a v o i d a n c e a l t e r n a t i v e s t o t h e s e n s i t i v e v e r n a l
p o o l a r e a t h a t w o u l d b e i m p a c t e d b y t h e l o c a l l y p r e f e r r e d a l t e r n a t i v e .
A m e n d m e n t N o . 2 w a s a p p r o v e d o n S e p t e m b e r 2 0 , 2 0 0 5 a n d a u t h o r i z e d
$ 3 3 1 , 1 0 0 f r o m c o n t i n g e n c y t o u p d a t e a e r i a l m a p p i n g a n d c o n d u c t c u l t u r a l s t u d i e s .
A m e n d m e n t N o . 2 d i d n o t i n c r e a s e t h e c o n t r a c t ' s n o t t o e x c e e d v a l u e o f
$ 1 5 , 1 5 3 , 1 5 1 .
T h e p r o j e c t c o n t i n u e s t o c o n d u c t t h e r e q u i s i t e t e c h n i c a l f i e l d s t u d i e s a n d w o r k w i t h
t h e l o c a l l a n d u s e a g e n c i e s t o a c c o m m o d a t e a n t i c i p a t e d d e v e l o p m e n t . T h e e a r l y
r e s u l t s o f t h e t e c h n i c a l s t u d i e s a n d f e e d b a c k f r o m t h e c i t i e s a n d C o u n t y o f
R i v e r s i d e h a v e p r o v i d e d a s s i s t a n c e i n f i n e - t u n i n g t h e a l i g n m e n t a l t e r n a t i v e s . T h e
r e s u l t o f t h i s c o l l a b o r a t i v e e f f o r t i s s h o w n i n A t t a c h m e n t 1 . A s i g n i f i c a n t a m o u n t
o f a l i g n m e n t r e f i n e m e n t h a s b e e n r e q u i r e d i n o r d e r t o a d d r e s s a l l o f t h e p r o j e c t
c o n s t r a i n t s , a s w e u n d e r s t a n d t h e m t o b e t o d a y . T h e r e s u l t i s t h a t t h e s c o p e o f
s e r v i c e t h a t w a s o r i g i n a l l y n e g o t i a t e d i n A m e n d m e n t N o . 1 m u s t n o w b e a d j u s t e d
t o a d d r e s s t h e n e w a l i g n m e n t s , a s t h e y a r e c u r r e n t l y d e f i n e d . T h i s w i l l r e q u i r e ,
a d d i t i o n a l f i e l d s t u d i e s t o b e p e r f o r m e d a s w e l l a s a d d i t i o n a l e n g i n e e r i n g e f f o r t s t o .
b e c o m p l e t e d i n o r d e r t o b e c o n s i s t e n t w i t h t h e c u r r e n t s u i t e o f a l t e r n a t i v e s .
D u e t o t h e s i g n i f i c a n t c h a n g e i n c o n d i t i o n s t h a t h a s o c c u r r e d b e t w e e n t h e
a p p r o v e d c o n t r a c t / a m e n d m e n t a w a r d s a n d t h e p r e s e n t , s t a f f i s b r i n g i n g b a c k t h e
s c o p e o f w o r k t o t h e C o m m i s s i o n f o r r e v i e w a n d a u t h o r i z a t i o n t o c o n t i n u e w i t h t h e
n e c e s s a r y e n g i n e e r i n g a n d e n v i r o n m e n t a l s t u d i e s t o k e e p t h e a p p r o v a l p r o c e s s
m o v i n g f o r w a r d . T h e r e a r e s t i l l u n c e r t a i n t i e s t h a t m a y i m p a c t t h e f i n a l c o s t t o
d e l i v e r t h e f i n a l P R / E D . B e c a u s e o f t h e s e u n c e r t a i n t i e s , s t a f f i s r e c o m m e n d i n g t h a t
t h e c o n t r a c t n o t b e i n c r e a s e d a t t h i s t i m e . I n s t e a d , s t a f f r e c o m m e n d s u s e o f t h e
c u r r e n t l y a u t h o r i z e d f u n d i n g a n d r e s c o p e t h e w o r k b a c k t o t h e d e l i v e r y o f a n
A d m i n i s t r a t i v e D r a f t o f t h e P R / E D . A t a l a t e r d a t e , s t a f f w i l l b r i n g b a c k a n i t e m
t h a t w i l l c a r r y t h e a p p r o v a l p r o c e s s t o t h e d e l i v e r y o f t h e f i n a l P R / E D . I t i s
u n k n o w n a t t h i s t i m e w h a t a n y a d d i t i o n a l e f f o r t w i l l c o s t ; b u t , i t i s l i k e l y t o b e
a p p r o x i m a t e l y $ 3 - 4 m i l l i o n t o r e p l a c e t h e a m o u n t s t h a t a r e b e i n g t a k e n f r o m i t e m s
t h a t a r e c u r r e n t l y p r o p o s e d t o b e f u n d e d .
T a k i n g t h e r e m a i n i n g w o r k e l e m e n t s f o r t h e P r o j e c t t o t h e f i n a l P R / E D i s e s t i m a t e d
t o t a k e a p p r o x i m a t e l y t w o m o r e y e a r s f r o m F e b r u a r y 2 0 0 6 t h r o u g h D e c e m b e r
2 0 0 8 . T h i s t i m e f r a m e w i l l b e a c h i e v a b l e i f w e a t h e r c o n d i t i o n s a r e s a t i s f a c t o r y i n
o r d e r t o a l l o w t h e c o n s u l t a n t t e a m t o c o l l e c t t h e r i g h t e n v i r o n m e n t a l a n d t e c h n i c a l
1 3
information to take the project through completion of a Record of Decision and
receipt of a Section 404 permit. In order to achieve this, sufficient rain is
necessary so that staff will be able to perform much needed wet season surveys,
soil Iithology surveys, plant surveys and additional general biological surveys. All
of these surveys are necessary specifically in the areas of the new alignments
throughout the city of Hemet and in the other subtle line shifts that have occurred
on the current approved alignments (see attached map). While all of this crucial
information is being gathered, staff will continue to work with the county of
Riverside and both the cities of Hemet and San Jacinto with their locally preferred
alternatives.
Staff recommends that the Commission approve Amendment No. 3 to CH2M Hill
for the continuation of .the engineering effort to obtain- a Project. Report and
Environmental Document for the Realignment of SR-79 between Domenigoni
Parkway and Gilman Springs Road. A Scope of Work Summary for the State Route
79 Realignment Project is attached that will take the project to the completion > of
the Administrative Draft of the PR/ED. Amendment No. 3 will authorize the 'partial
use of $1,807,873 that is currently identified as project contingency. This cost will
be transferred from the contingency cost that the Commission has already
approved as part of Amendment No. 1 for this project. In addition, staff
recommends that the Commission also approve the reallocation of currently
approved tasks in the amount of $1,438,279. The total request for reallocation of
funds is for $3,246,152 (see attached spreadsheets). The total not to exceed
contract amount that the Commission approved on January 12, 2005 for the
project will remain the same at $15,153,151.
After the winter season surveys are completed, staff will return with an update on
the status and progress of the project. By that time, staff will be able to determine
if sufficient wet season survey information was collected or if there will be a need
to perform a dry season survey to complement the current available data. A final
scope of work and cost will be brought back for Commission approval at that time.
14
"
"
T h e R C T C m o d e l c o n s u l t a n t a m e n d m e n t w i l l b e u s e d p u r s u a n t t o l e g a l c o u n s e l
r e v i e w .
F i n a n c i a l I n f o r m a t i o n
I n F i s c a l Y e a r B u d g e t :
Y
Y e a r :
F Y 2 0 0 5 / 0 6
A m o u n t :
$ 5 , 0 0 0 , 0 0 0
S o u r c e o f F u n d s :
T U M F R e g i o n a l A r t e r i a l $ 3 , 4 9 9 , 0 0 0
T E A - 2 1 D e m o f u n d s $ 1 , 5 0 1 , 0 0 0
B u d g e t A d u s t m e n t :
N
G L A N o . :
2 2 2 3 1 8 1 1 0 1 P 3 0 0 3
F i s c a l P r o c e d u r e s A p p r o v e d :
v l / t t u d e : 4 , 1 .
D a t e :
2 / 2 7 / 0 6
A t t a c h m e n t s :
1 ) S R 7 9 C u r r e n t R e a l i g n m e n t M a p
2 ) S R 7 9 R e a l i g n m e n t P r o j e c t S c o p e o f W o r k a n d B u d g e t T r a n s f e r s
3 ) S R 7 9 R e a l i g n m e n t P r o j e c t C o s t S p r e a d s h e e t s
1 5
Aerial Date: March 2005,AirPhaotoUSA
4lgaMgis2\rote1171146\2006\plots\pdmipdrr►com bo_b.mxd 2/10/2006
LEGEND
- January 2006 CenterlineeH
---■ January 2006 Segment Match Line
11111 Utility Relocation AreaeH
Borrow ImpactAreaeH
mg Project Right-okWay
February 2005
ma Project Right -all -Way
January 2006
Shared Project
ME Right -of -Way and Borrow Area
February 2005 and January.2006eH
0
0
5,000
Feet
1,000
Meters
Figure XX
Comparison of Project Segments
February 2006 and January 2006
State Route 79 Realignment Project
35% ORAFT DATA
95% DRAFT IVIAP
"
"
S t a t e R o u t e 7 9 R e a l i g n m e n t P r o j e c t :
D o m e n i g o n i P a r k w a y t o G i l m a n
S p r i n g s R o a d
B u d g e t T r a n s f e r s
f o r
P r o j e c t R e p o r t a n d E n v i r o n m e n t a l D o c u m e n t
A m e n d m e n t N o . 3
P r e p a r e d f o r
R i v e r s i d e C o u n t y T r a n s p o r t a t i o n C o m m i s s i o n
F e b r u a r y 2 0 0 6
S u b m i t t e d b y
3 5 5 0 V i n e S t r e e t , S u i t e 3 2 0
R i v e r s i d e , C a l i f o r n i a 9 2
1 6
Amendment No. 3
The proposed Amendment 3 for the State Route 79 Realignment Project (Project) reallocates
budgets from specific tasks (contingency tasks, completed tasks, and future tasks) to
existing tasks that require additional budget. This budget is being allocated for out of scope
work based on changes to the proposed Project. It is estimated that this funding will provide
for a portion of the required work. A subsequent amendment (future Amendment 4) will
also be required to complete this work. The specific reasons for this additional budget can
be summarized based on the following items.
1) Change in the Project description:
• The removal of the previous "Eastern Alternative' from the Project
• The addition of a new Project alternative, described as the "Mid Western Alternative"
• Shifts of existing Project alternatives to new locations not previously analyzed
• New features have been added to the Project including a utility relocation corridor,
construction haul routes, and detour locations for use during construction
2) Based on the changes in the Project description described in item #1, biological and
cultural resource surveys need to be initiated immediately in the locations where previous
survey were not conducted.
3) Tasks that support the field survey effort are also required. This includes coordination
with the landowners (Task 1.8) to gain access to their property, as well as to our technical
support for GPS and GIS tasks (Task 1.9).
4) Additional effort is required by the federal resource agencies to update the Project
description in the Updated Preliminary Agreement document (Task 2.3).
5) Additional effort is required to coordinate with the public related to Project Scoping.
6) Additional effort is required to update the onsite drainage studies based upon the
changes to the Project description.
7) Additional effort is required to update the existing utilities information and identify
utility conflicts and relocations based upon the changes to the Project description.
8) Additional effort is required to convert the new aerial mapping from English units to
metric units. We originally scoped to do the mapping in English units, which we will need
later in the project, but have identified that we will also need the mapping in metric units to
complete work that is already in progress.
9) Additional effort is required to update the right of way data sheets based upon the
changes to the Project description.
17
"
1 0 ) A n e w t a s k h a s b e e n i d e n t i f i e d t o p e r f o r m f i e l d e x p l o r a t i o n w o r k r e l a t e d t o t h e H e m e t
L a n d f i l l n e a r t h e i n t e r s e c t i o n o f W a r r e n R o a d a n d E s p l a n a d e A v e n u e . T h i s w a s r e q u e s t e d
b y C a l t r a n s a t a r e c e n t m e e t i n g .
T h i s d o c u m e n t w i l l f i r s t d e s c r i b e t h e t a s k s f r o m w h i c h b u d g e t i s b e i n g t a k e n , a n d t h e n
d e s c r i b e t h e t a s k s t o w h i c h b u d g e t i s b e i n g a l l o c a t e d .
1 8
Existing Budgets to be Transferred
Contingency Tasks
The following tasks were placed in Contingency in Amendment 1 and removed from the
scope. Amendment 3 will move the budgets for these tasks from the Contingency and
allocate these budgets to existing tasks.
Task
Number
Task Name
Existing Budget
1.9
GIS
$567,316.11
3.13
Aerial Mapping
$16,786.08
3.18
Geometric Approval Drawings
$485,953.12
5.04
Cultural Resources Site Testing
$372,000.00
6.03
Draft EIS/EIR Preparation
$182,652.12
6.6.4
Final EIS/EIR Preparation
$124,764.15
N/A
Other contingency
$58,401.42
TOTAL
$1,807,873.00
Note 1: The Aerial Mapping task (3.13) originally had $122,886.08 assigned to contingency.
Under Amendment 2, $106,100 of this was transferred from contingency to our contract,
leaving $16,786.08 in contingency.
Note 2: The Cultural Resources Site Testing task (5.04) originally had $597,000 assigned to
contingency. Under Amendment 2, $225,000 of this was transferred from contingency to our
contract, leaving $372,000 in contingency.
Completed Tasks
The tasks listed below are in our existing contract. These tasks have been completed and
there is budget remaining that will not be needed. We are proposing to take the remaining
budgets for these tasks and allocate it to other existing tasks that require additional budget.
The completed tasks from which we propose to take budget are as follows:
Task
Number
Task Name
Existing Budget
3.11
Value Engineering
$2,249.23
4.1
Development of Project Alternatives Description
for Environmental Technical Reports
$7,391.05
TOTAL
$9,640.28
3
19
"
F u t u r e T a s k s
T h e t a s k s l i s t e d b e l o w a r e i n o u r e x i s t i n g c o n t r a c t , b u t w i l l n o t n e e d t o b e p e r f o r m e d i n 2 0 0 6 .
W e a r e p r o p o s i n g t o t a k e t h e e x i s t i n g b u d g e t s f o r t h e s e t a s k s a n d a l l o c a t e i t t o o t h e r e x i s t i n g
t a s k s t h a t r e q u i r e a d d i t i o n a l b u d g e t . T h e f u t u r e t a s k s f r o m w h i c h w e p r o p o s e t o t a k e
b u d g e t a r e a s f o l l o w s :
T a s k
N u m b e r
T a s k N a m e
E x i s t i n g B u d g e t
3 . 1 4
F i n a l E n g i n e e r i n g
$ 1 6 3 , 5 4 2 . 9 4
3 . 1 5
A d v a n c e P l a n n i n g S t u d i e s
$ 1 6 2 , 6 5 6 . 5 4
3 . 1 9
F i n a l P r o j e c t R e p o r t
$ 9 7 , 9 8 8 . 1 0
6 . 3
D r a f t E I S / E I R P r e p a r a t i o n
$ 1 8 0 , 4 2 6 . 9 4
6 . 4
D r a f t E I S / E I R C i r c u l a t i o n
$ 1 5 1 , 6 8 2 . 6 8
6 . 5 . 3
D r a f t E I S / E I R P u b l i c N o t i c i n g
$ 2 4 , 7 6 7 . 3 4
6 . 5 . 4
P u b l i c H e a r i n g s
$ 6 1 , 6 0 4 . 2 9
6 . 6 . 1
R e s p o n s e t o C o m m e n t s
$ 2 7 2 , 7 1 3 . 5 3
6 . 6 . 4
F i n a l E I S / E I R P r e p a r a t i o n
$ 1 2 5 , 5 1 1 . 2 6
6 . 6 . 5
F i n a l E I S / E I R C i r c u l a t i o n
$ 1 4 3 , 0 3 4 . 5 9
6 . 8
P r o j e c t M i t i g a t i o n M o n i t o r i n g & R e p o r t i n g P l a n
$ 4 4 , 7 1 0 . 6 3
T O T A L
$ 1 , 4 2 8 , 6 3 8 . 8 4
A s u m m a r y o f t h e b u d g e t s t o b e t r a n s f e r r e d f o r t h e t h r e e c a t e g o r i e s o f t a s k s i s a s f o l l o w s :
T a s k T y p e
B u d g e t s t o b e T r a n s f e r r e d
C o n t i n g e n c y T a s k s
$ 1 , 8 0 7 , 8 7 3 . 0 0
C o m p l e t e d T a s k s
$ 9 , 6 4 0 . 2 8
F u t u r e T a s k s
$ 1 , 4 2 8 , 6 3 8 . 8 4
T O T A L
$ 3 , 2 4 6 , 1 5 2 . 1 2
4
2 0
Allocation of Budgets
The following table lists the tasks that will have new or additional budget allocated to them
under Amendment 3.
Task
Number
Task Name
Existing Budget
1.1
Project Management
$30,000.00
1.8
Landowner Access
$350,000.00
1.9
GIS
$947,328.96
2.3
Updated Preliminary Agreement
$82,663.16
3.2
Onsite Drainage Studies
$60,000.00
3.4
Utility Coordination
$137,815.00
3.6
Traffic Analysis
$25,000.00
3.13
Aerial Mapping
$7,000.00
3.17
Right of Way Data Sheets
$30,000.00
3.20 (new)
Hemet Landfill
$56,345.00
4.2
Modification of Project Alternatives Description
for Environmental Technical Reports
$200,000.00
5.4
Cultural Resources
$225,000.00
5.12.1
Wetland Delineation Report
$215,000.00
512 2
Burrowing Owl Advanced Reconnaissance
Survey Report
$40,000.00
5.12.3
Rare Plant Advanced Reconnaissance Survey
Report
$495,000.00
5.12.4
Riparian Bird Focused Survey Report
$40,000.00
5.12.5
Vernal Pool Fairy Shrimp Focused Survey
Report
$100,000.00
5.12.6
Mammal Focused Survey Report
$60,000.00
6.2.2
Analysis of Cumulative Impacts
$80,000.00
6.5.1
Scoping
$65,000.00
TOTAL
$3,246,152.12
5
21
"
S u m m a r y
T h e r e a r e t w o s p r e a d s h e e t s t h a t a c c o m p a n y t h i s A m e n d m e n t 3 r e q u e s t .
O n e s p r e a d s h e e t l i s t s a l l o f t h e t a s k s o n t h e p r o j e c t w i t h t h e u p d a t e d b u d g e t a m o u n t s
s h o w n . T h i s s p r e a d s h e e t i n c o r p o r a t e s a l l o f t h e c h a n g e s d e s c r i b e d i n t h i s d o c u m e n t . I t
p r o v i d e s a b r e a k d o w n b y t a s k o f t h e b u d g e t s t h a t w i l l r e m a i n f o r e a c h t a s k .
T h e s e c o n d s p r e a d s h e e t i s a s u m m a r y o f o u r c o n t r a c t c o s t p r o p o s a l . T h i s s p r e a d s h e e t
i n c o r p o r a t e s t h e c h a n g e s d e s c r i b e d i n t h i s d o c u m e n t . I t d e p i c t s t h e l a b o r , o v e r h e a d , a n d n e t
f e e c h a n g e s a s a r e s u l t o f A m e n d m e n t 3 .
2 2
COST PROPOSAL
RCTC SR 79
2HILL
LABOR
Project Manager
Senior Consultant
Environmental Task Leader
Senior Engineer
Project Engineer
Project Planner/Scientist
Associate Engineer
Associate Planner/Scientist
Engineer
Planner/Scientist
Technical Editor
Word Processor
GIS/Graphics
CARD
Administration
Reprographics
Project Multiplier
EXPENSE arid TRAVEL COSTS
Expenses
Travel/Per Diem
Rate
$71.16
$62.50
$56.77
$63.16
$47.05
$50.33
$52.97
$37.79
$39.57
$24.43
$36.46
$23.56
$36.78
$22.24 .
$23.93
$24.31
SUBTOTAL.
2.896
Hours
-85
842
1,858
-446
-527
587
174
121
-381
688
209
193
6,224 ..
-817
370
658
9,668
Overhead
Fee
Total Burdened Labor
SUBTOTAL
SUBCONTRACTORS (includes Labor, Expenses, Travel, and Per Diem)
David Bramlet (Rare Plants)
Earthworks (Rare Plants)
Engineering Resources
Fred Roberts (Rare Plants)
Dr: Herb Huddleston (Wetland Delineation)
Michelle Balk Consulting (Rare Plants)
Ninyo & Moore
O'Farrell Biological Consulting
Peter H.Bloom (Burrowing Owl)
Scott White Biological Consulting
SMJ Biological Consulting
SUBTOTAL
Labor Cost
($6,048.60)
$52,625.00
$105,478.66
($28,178.28)
($24,795.35)
$29,543.71
$9,216.78
$4,572.59
($15,076.17)
$16,807.84
$7,620.14
$4,547.08
$228,900.18
($18,170.08)
$8,854.10
$15,995.98
163.3%
10%
$43,743
$64,929
$70,000.00
$120,000.00
$135,815.00
$60,000.00
$15,000.00
$23,000.00
$48,345.00
($40,000.00)
$40,000.00
$22,000.00
$70,000.00
TOTAL REQUEST AMENDMENT 3
ORIGINAL CONTRACT AMOUNT
AMENDMENT NO. 1
AMENDMENT NO. 2
$391894
$639,962
$103,186
$1,135,041
$108,672
$564,160
$1,807,873
GRAND TOTAL CONTRACT
$1,994,497
$10,937,171
$331,100
$14,670,641
2/22/2006 10:10 AM
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"
A G E N D A I T E M 8
"
RIVERSIDE COUNTY TRANSPORTATION COMMISSION
DATE:
February 27, 2006
TO:
Budget and Implementation Committee
FROM:
Theresia Trevino, Chief Financial Officer
THROUGH:
Anne Mayer, Director of Programming and Administration
SUBJECT:
Annual Investment Policy Review
STAFF RECOMMENDATION:
Thisitemis for the Committee to:
1) Adopt the Investment Policy; and
2) Forward to the Commission for final action.
BACKGROUND INFORMATION:
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."
Based on a review of the Investment Policy approved by the Commission on March
18, 2005 and consideration of changes to the California Government Code (Code)
as of January 1, 2006, staff in consultation with the Investment Advisor hired by
the Commission has determined that no technical changes are required; however,
staff has made some administrative revisions to reporting requirements in Section
IX. These changes relate to the deletion of information regarding amortized cost,
accrued interest, and yield at market, as such information is not required to be
reported under the Code.
Staff is recommending adoption of the attached Investment Policy.
Attachment: Investment Policy
26
"
E v e r s i d e C o u n t y
n s p o r t a t f o n C v m n t i s s i o n
I N V E S T M E N T P O L I C Y
I . I n t r o d u c t i o n
T h e p u r p o s e o f t h i s d o c u m e n t i s t o i d e n t i f y p o l i c i e s a n d p r o c e d u r e s t h a t
e n h a n c e o p p o r t u n i t i e s f o r a p r u d e n t a n d s y s t e m a t i c i n v e s t m e n t p r o g r a m a n d
t o o r g a n i z e a n d f o r m a l i z e i n v e s t m e n t - r e l a t e d a c t i v i t i e s .
S c o p e
I t i s i n t e n d e d t h a t t h i s P o l i c y c o v e r a l l f u n d s ( e x c e p t r e t i r e m e n t f u n d s ) a n d
i n v e s t m e n t a c t i v i t i e s u n d e r t h e d i r e c t i o n o f t h e C o m m i s s i o n .
I I I . D e l e g a t i o n o f A u t h o r i t y
P u r s u a n t t o t h e C o m m i s s i o n ' s A d m i n i s t r a t i v e C o d e , t h e B o a r d ' s m a n a g e m e n t
r e s p o n s i b i l i t y f o r t h e i n v e s t m e n t p r o g r a m i s h e r e b y d e l e g a t e d f o r a o n e - y e a r
p e r i o d t o t h e E x e c u t i v e D i r e c t o r w h o s h a l l m o n i t o r a n d r e v i e w a l l
i n v e s t m e n t s f o r c o n s i s t e n c y w i t h t h i s i n v e s t m e n t p o l i c y . S u b j e c t t o r e v i e w ,
t h e B o a r d m a y r e n e w t h e d e l e g a t i o n o f a u t h o r i t y p u r s u a n t t o t h i s s e c t i o n
e a c h y e a r . T h e E x e c u t i v e D i r e c t o r m a y d e l e g a t e t h e s e d u t i e s t o h i s d e s i g n e e
( " C h i e f F i n a n c i a l O f f i c e r " ) . T h e C o m m i s s i o n m a y d e l e g a t e i t s i n v e s t m e n t
d e c i s i o n m a k i n g a n d e x e c u t i o n a u t h o r i t y t o a n i n v e s t m e n t a d v i s o r . T h e
a d v i s o r s h a l l f o l l o w t h i s P o l i c y a n d s u c h o t h e r w r i t t e n i n s t r u c t i o n s a s a r e
p r o v i d e d .
I V . P r u d e n c e
A l l p e r s o n s a u t h o r i z e d t o m a k e i n v e s t m e n t d e c i s i o n s o n b e h a l f o f t h e
C o m m i s s i o n a r e s u b j e c t t o t h e p r u d e n t i n v e s t o r s t a n d a r d . I n v e s t m e n t s s h a l l
b e m a d e w i t h c a r e , s k i l l , p r u d e n c e a n d d i l i g e n c e u n d e r c i r c u m s t a n c e s t h e n
p r e v a i l i n g , i n c l u d i n g , b u t n o t l i m i t e d t o , t h e g e n e r a l e c o n o m i c c o n d i t i o n s a n d
t h e a n t i c i p a t e d n e e d s o f t h e C o m m i s s i o n t h a t a p r u d e n t p e r s o n a c t i n g i n a
l i k e c a p a c i t y a n d f a m i l i a r i t y w i t h t h o s e m a t t e r s w o u l d u s e i n t h e c o n d u c t o f
f u n d s o f a l i k e c h a r a c t e r a n d w i t h l i k e a i m s , t o s a f e g u a r d t h e p r i n c i p a l a n d
m a i n t a i n t h e l i q u i d i t y n e e d s o f t h e C o m m i s s i o n .
2 7
Authorized individuals acting in accordance with this Policy and written
procedures and exercising due diligence shall be relieved of personal.
responsibility for an individual 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.
In order to maximize return on its investments, the Commission seeks an
active rather than passive management of portfolio assets. The Commission
may fromtime to time sell securities that it owns in order to better reposition
its portfolio assets in accordance with updated cash flow schedules, yield
curve optimizations, yield opportunities existing between market sectors, or
simply market timing.
V I . 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 -governmental issuer are further restricted to a
maximum of 10%. 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 notify the Board of the change. The course
of action to be followed will then be decided on a case -by -case basis,
•
28
"
c o n s i d e r i n g s u c h f a c t o r s a s t h e r e a s o n f o r t h e r a t e d r o p , p r o g n o s i s f o r
r e c o v e r y o r f u r t h e r r a t e d r o p s , a n d t h e m a r k e t p r i c e o f t h e s e c u r i t y .
1 . E l i g i b l e I n v e s t m e n t s
A . U . S . G o v e r n m e n t I s s u e s . U n i t e d S t a t e s T r e a s u r y n o t e s , b o n d s ,
b i l l s , o r c e r t i f i c a t e s o f i n d e b t e d n e s s , o r t h o s e f o r w h i c h t h e f a i t h
a n d c r e d i t o f t h e U n i t e d S t a t e s a r e p l e d g e d f o r t h e p a y m e n t o f
p r i n c i p a l a n d i n t e r e s t .
B . F e d e r a l A g e n c y S e c u r i t i e s . F e d e r a l a g e n c y o r U n i t e d S t a t e s
g o v e r n m e n t - s p o n s o r e d e n t e r p r i s e o b l i g a t i o n s , p a r t i c i p a t i o n s , o r
o t h e r i n s t r u m e n t s , i n c l u d i n g t h o s e i s s u e d b y o r f u l l y g u a r a n t e e d
a s t o p r i n c i p a l a n d i n t e r e s t b y f e d e r a l a g e n c i e s o r U n i t e d S t a t e s
g o v e r n m e n t - s p o n s o r e d e n t e r p r i s e s .
C . R e p u r c h a s e A g r e e m e n t s . R e p u r c h a s e a g r e e m e n t s a r e t o b e
u s e d s o l e l y a s s h o r t - t e r m i n v e s t m e n t s n o t t o e x c e e d 3 0 d a y s . .
T h e C o m m i s s i o n m a y e n t e r i n t o r e p u r c h a s e a g r e e m e n t s w i t h
p r i m a r y g o v e r n m e n t s e c u r i t i e s d e a l e r s r a t e d " A " o r b e t t e r b y
t w o n a t i o n a l l y r e c o g n i z e d r a t i n g s e r v i c e s . C o u n t e r p a r t i e s
s h o u l d a l s o h a v e ( i ) a s h o r t - t e r m c r e d i t r a t i n g o f a t l e a s t A - 1 / P -
1 ; ( i i ) m i n i m u m a s s e t s a n d c a p i t a l s i z e o f $ 2 5 b i l l i o n i n a s s e t s
a n d $ 3 5 0 m i l l i o n i n c a p i t a l ; ( i i i ) f i v e y e a r s o f a c c e p t a b l e a u d i t e d
f i n a n c i a l r e s u l t s ; a n d ( i v ) a s t r o n g r e p u t a t i o n a m o n g m a r k e t
p a r t i c i p a n t s .
T h e f o l l o w i n g c o l l a t e r a l r e s t r i c t i o n s w i l l b e o b s e r v e d : O n l y U . S .
T r e a s u r y s e c u r i t i e s o r F e d e r a l A g e n c y s e c u r i t i e s , a s d e s c r i b e d i n
V . 1 A a n d B , w i l l b e a c c e p t a b l e c o l l a t e r a l . A l l s e c u r i t i e s
u n d e r l y i n g r e p u r c h a s e a g r e e m e n t s m u s t b e d e l i v e r e d t o t h e
C o m m i s s i o n ' s c u s t o d i a n b a n k v e r s u s p a y m e n t o r b e h a n d l e d
u n d e r a p r o p e r l y e x e c u t e d t r i - p a r t y r e p u r c h a s e a g r e e m e n t . T h e
t o t a l m a r k e t v a l u e o f a l l c o l l a t e r a l f o r e a c h r e p u r c h a s e
a g r e e m e n t m u s t e q u a l o r e x c e e d 1 0 2 p e r c e n t o f t h e t o t a l d o l l a r
v a l u e o f t h e m o n e y i n v e s t e d b y t h e C o m m i s s i o n f o r t h e t e r m o f
t h e i n v e s t m e n t . F o r a n y r e p u r c h a s e a g r e e m e n t w i t h a t e r m o f
m o r e t h a n o n e d a y , t h e v a l u e o f t h e u n d e r l y i n g s e c u r i t i e s m u s t
b e r e v i e w e d o n a n o n - g o i n g b a s i s a c c o r d i n g t o m a r k e t
c o n d i t i o n s . M a r k e t v a l u e m u s t b e c a l c u l a t e d e a c h t i m e t h e r e i s
a s u b s t i t u t i o n o f c o l l a t e r a l .
2 9
The Commission or its trustee shall have a perfected first
security interest under the Uniform Commercial Code in all
securities subject to repurchase agreement. The Commission
shall have properly executed a PSA agreement with each
counterparty with which it enters into repurchase agreements.
D. U.S. Corporate Debt. Medium -term notes, defined as all
corporate and depository institution securities with a maximum
remaining maturity of five 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 "AA" or better by one or more nationally recognized rating
service. Investments in U.S. Corporate Debt are further limited
to 30% of surplus funds.
E. 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
($5OO,O0O,OOO). (C) Has debt other than commercial paper,
if any, that is rated "A" or higher by a 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 "A-1" or higher, or the
equivalent, by a NRSRO.
Purchases of eligible commercial paper may not exceed 270
days maturity nor represent more than 10 percent of the
outstanding paper of an issuing corporation. Investments in
commercial paper are limited to a maximum of 25% of surplus
funds.
F. Banker's Acceptances. Banker's acceptances issued by
domestic or foreign banks, which are eligible for purchase by
•
30
"
"
t h e F e d e r a l R e s e r v e S y s t e m . P u r c h a s e s o f b a n k e r ' s
a c c e p t a n c e s m a y n o t e x c e e d 1 8 0 d a y s m a t u r i t y . E l i g i b l e
b a n k e r ' s a c c e p t a n c e s a r e r e s t r i c t e d t o i s s u i n g f i n a n c i a l
i n s t i t u t i o n s w i t h s h o r t - t e r m p a p e r r a t e d i n t h e h i g h e s t c a t e g o r y
b y o n e o r m o r e n a t i o n a l l y r e c o g n i z e d r a t i n g s e r v i c e .
I n v e s t m e n t s i n b a n k e r ' s a c c e p t a n c e s a r e f u r t h e r l i m i t e d t o 4 0 %
o f s u r p l u s f u n d s w i t h n o m o r e t h a n 3 0 % o f s u r p l u s i n v e s t e d i n
t h e b a n k e r ' s a c c e p t a n c e s o f a n y o n e c o m m e r c i a l b a n k .
G . M o n e y M a r k e t M u t u a l F u n d s . S h a r e s o f b e n e f i c i a l i n t e r e s t
i s s u e d b y d i v e r s i f i e d m a n a g e m e n t c o m p a n i e s t h a t a r e m o n e y
m a r k e t f u n d s r e g i s t e r e d w i t h t h e S e c u r i t i e s a n d E x c h a n g e
C o m m i s s i o n u n d e r t h e I n v e s t m e n t C o m p a n y A c t o f 1 9 4 0 ( 1 5
U . S . C . S e c . 8 0 a - 1 , e t s e q . ) a n d t h a t i n v e s t s o l e l y i n U . S .
t r e a s u r i e s , o b l i g a t i o n s o f t h e U . S . T r e a s u r y , a n d r e p u r c h a s e
a g r e e m e n t s r e l a t i n g t o s u c h t r e a s u r y o b l i g a t i o n s .
T h e C o m m i s s i o n m a y i n v e s t i n s h a r e s o f b e n e f i c i a l i n t e r e s t
i s s u e d b y a c o m p a n y s h a l l h a v e m e t e i t h e r o f t h e f o l l o w i n g
c r i t e r i a : ( 1 ) A t t a i n e d t h e h i g h e s t r a n k i n g o r t h e h i g h e s t l e t t e r
a n d n u m e r i c a l r a t i n g p r o v i d e d b y n o t l e s s t h a n t w o n a t i o n a l l y '
r e c o g n i z e d r a t i n g s e r v i c e s . ( 2 ) R e t a i n e d a n i n v e s t m e n t a d v i s e r
r e g i s t e r e d o r e x e m p t f r o m r e g i s t r a t i o n w i t h t h e S e c u r i t i e s a n d
E x c h a n g e C o m m i s s i o n w i t h n o t l e s s t h a n f i v e y e a r s ' e x p e r i e n c e
m a n a g i n g m o n e y m a r k e t m u t u a l f u n d s w i t h a s s e t s u n d e r
m a n a g e m e n t i n e x c e s s o f f i v e h u n d r e d m i l l i o n d o l l a r s
( $ 5 0 0 , 0 0 0 , 0 0 0 ) .
T h e p u r c h a s e p r i c e o f s h a r e s o f b e n e f i c i a l i n t e r e s t p u r c h a s e d
p u r s u a n t t o t h i s s u b d i v i s i o n s h a l l n o t i n c l u d e a n y c o m m i s s i o n
t h a t t h e c o m p a n i e s m a y c h a r g e . I n v e s t m e n t s i n M o n e y M a r k e t
M u t u a l F u n d s a r e f u r t h e r l i m i t e d t o 2 0 % o f s u r p l u s f u n d s .
H . R i v e r s i d e C o u n t y P o o l e d I n v e s t m e n t F u n d ( " R C P I F " ) . T h e
C o m m i s s i o n m a y i n v e s t i n t h e R i v e r s i d e C o u n t y P o o l e d
I n v e s t m e n t F u n d . A s o n - g o i n g d u e d i l i g e n c e , t h e C h i e f F i n a n c i a l
O f f i c e r s h a l l o b t a i n t h e i n f o r m a t i o n l i s t e d b e l o w :
" A d e s c r i p t i o n o f e l i g i b l e i n v e s t m e n t s e c u r i t i e s a n d a w r i t t e n
s t a t e m e n t o f i n v e s t m e n t p o l i c y .
" A d e s c r i p t i o n o f t h e i n t e r e s t c a l c u l a t i o n , t h e f r e q u e n c y o f
i n t e r e s t d i s t r i b u t i o n s , a n d t h e t r e a t m e n t o f g a i n s a n d l o s s e s
i n t h e p o r t f o l i o .
3 1
" A d e s c r i p t i o n o f h o w o f t e n , t h e s e c u r i t i e s a r e p r i c e d , h o w t h e
s e c u r i t i e s a r e s a f e g u a r d e d , a n d t h e a u d i t a r r a n g e m e n t s .
" A d e s c r i p t i o n o f w h o m a y i n v e s t i n t h e p r o g r a m , h o w o f t e n
t h e y m a y i n v e s t , a n d w h a t s i z e d e p o s i t s a n d w i t h d r a w a l s a r e
a l l o w e d .
" A s c h e d u l e f o r r e c e i v i n g s t a t e m e n t s a n d p o r t f o l i o l i s t i n g s .
" A f e e s c h e d u l e , a n d w h e n a n d h o w f e e s a r e a s s e s s e d .
" T h e c o m p o s i t i o n o f t h e i n v e s t m e n t f u n d f o r e a c h r e p o r t i n g
p e r i o d .
I . S t a t e o f C a l i f o r n i a L o c a l A g e n c y I n v e s t m e n t F u n d ( " L A I F " ) . T h e
C o m m i s s i o n m a y i n v e s t i n L A _ I F . A s o n - g o i n g d u e d i l i g e n c e , t h e .
C h i e f F i n a n c i a l O f f i c e r s h a l l o b t a i n t h e i n f o r m a t i o n l i s t e d b e l o w :
" A d e s c r i p t i o n o f e l i g i b l e i n v e s t m e n t s e c u r i t i e s a n d a w r i t t e n
s t a t e m e n t o f i n v e s t m e n t p o l i c y .
" A d e s c r i p t i o n o f t h e i n t e r e s t c a l c u l a t i o n , t h e f r e q u e n c y o f
i n t e r e s t d i s t r i b u t i o n s , a n d t h e t r e a t m e n t o f g a i n s a n d l o s s e s
i n t h e p o r t f o l i o .
" A d e s c r i p t i o n o f h o w o f t e n t h e s e c u r i t i e s a r e p r i c e d , h o w t h e
s e c u r i t i e s a r e s a f e g u a r d e d , a n d t h e a u d i t a r r a n g e m e n t s .
" A d e s c r i p t i o n o f w h o m a y i n v e s t i n t h e p r o g r a m , h o w o f t e n
t h e y m a y i n v e s t , a n d w h a t s i z e d e p o s i t s a n d w i t h d r a w a l s a r e
a l l o w e d .
" A s c h e d u l e f o r r e c e i v i n g s t a t e m e n t s a n d p o r t f o l i o l i s t i n g s .
" A f e e s c h e d u l e , a n d w h e n a n d h o w f e e s a r e a s s e s s e d .
" T h e c o m p o s i t i o n o f t h e i n v e s t m e n t f u n d f o r e a c h r e p o r t i n g
p e r i o d .
J . C e r t i f i c a t e s o f D e p o s i t . F e d e r a l D e p o s i t I n s u r a n c e C o r p o r a t i o n
( F D I C ) i n s u r e d o r f u l l y c o l l a t e r a l i z e d t i m e c e r t i f i c a t e s o f d e p o s i t
i n f i n a n c i a l i n s t i t u t i o n s l o c a t e d i n C a l i f o r n i a . E l i g i b l e
i n v e s t m e n t s a r e r e s t r i c t e d t o t h o s e i s s u i n g i n s t i t u t i o n s t h a t h a v e
b e e n i n b u s i n e s s a t l e a s t f i v e y e a r s a n d w h o s e s e n i o r d e b t
o b l i g a t i o n s a r e r a t e d " A A " o r b e t t e r b y o n e o r m o r e n a t i o n a l l y
r e c o g n i z e d r a t i n g s e r v i c e . T h e m a x i m u m t e r m f o r d e p o s i t s s h a l l
b e o n e y e a r . I n v e s t m e n t s i n c e r t i f i c a t e s o f d e p o s i t a r e f u r t h e r
l i m i t e d t o 2 0 % o f s u r p l u s f u n d s . A l l t i m e d e p o s i t s m u s t b e
c o l l a t e r a l i z e d i n a c c o r d a n c e w i t h C a l i f o r n i a G o v e r n m e n t C o d e
s e c t i o n 5 3 5 6 1 . T h e C o m m i s s i o n , a t i t s d i s c r e t i o n , m a y w a i v e
"
3 2
"
t h e c o l l a t e r a l i z a t i o n r e q u i r e m e n t s f o r a n y p o r t i o n o f t h e d e p o s i t
t h a t i s c o v e r e d b y f e d e r a l i n s u r a n c e .
2 . E l i g i b l e I n v e s t m e n t s f o r B o n d P r o c e e d s
B o n d p r o c e e d s s h a l l b e i n v e s t e d i n s e c u r i t i e s p e r m i t t e d b y t h e
a p p l i c a b l e b o n d d o c u m e n t s . I f t h e b o n d d o c u m e n t s a r e s i l e n t a s t o
p e r m i t t e d i n v e s t m e n t s , b o n d p r o c e e d s w i l l b e i n v e s t e d i n s e c u r i t i e s
p e r m i t t e d b y t h i s P o l i c y .
W i t h r e s p e c t t o m a x i m u m m a t u r i t i e s , t h e P o l i c y a u t h o r i z e s i n v e s t i n g
b o n d r e s e r v e f u n d p r o c e e d s b e y o n d t h e f i v e y e a r s i f p r u d e n t i n t h e
o p i n i o n o f t h e C h i e f F i n a n c i a l O f f i c e r .
3 . I n e l i g i b l e I n v e s t m e n t s
A s p r o v i d e d i n C a l i f o r n i a G o v e r n m e n t C o d e S e c t i o n 5 3 6 0 1 . 6 t h e
C o m m i s s i o n s h a l l n o t i n v e s t a n y f u n d s i n i n v e r s e f l o a t e r s , r a n g e n o t e s ,
m o r t g a g e d e r i v e d i n t e r e s t - o n l y s t r i p s o r i n a n y s e c u r i t y t h a t c o u l d
r e s u l t i n z e r o i n t e r e s t a c c r u a l i f h e l d t o m a t u r i t y .
T h e p u r c h a s e o f a n y s e c u r i t y n o t l i s t e d i n S e c t i o n V I . 1 a b o v e , b u t
p e r m i t t e d b y t h e C a l i f o r n i a G o v e r n m e n t C o d e , i s p r o h i b i t e d u n l e s s t h e
B o a r d a p p r o v e s t h e i n v e s t m e n t e i t h e r s p e c i f i c a l l y o r a s a p a r t o f a n
i n v e s t m e n t p r o g r a m a p p r o v e d b y t h e B o a r d .
V I I . M a x i m u m M a t u r i t i e s
M a t u r i t i e s o f i n v e s t m e n t s w i l l b e s e l e c t e d t o p r o v i d e n e c e s s a r y l i q u i d i t y ,
m i n i m i z e i n t e r e s t r a t e r i s k , a n d m a x i m i z e e a r n i n g s . C u r r e n t a n d e x p e c t e d
y i e l d c u r v e a n a l y s i s w i l l b e m o n i t o r e d a n d t h e p o r t f o l i o w i l l b e i n v e s t e d
a c c o r d i n g l y . B e c a u s e o f i n h e r e n t d i f f i c u l t i e s i n a c c u r a t e l y f o r e c a s t i n g c a s h
f l o w r e q u i r e m e n t s , a p o r t i o n o f t h e p o r t f o l i o s h o u l d b e c o n t i n u o u s l y i n v e s t e d
i n r e a d i l y a v a i l a b l e f u n d s .
W h e r e t h i s P o l i c y d o e s n o t s p e c i f y a m a x i m u m r e m a i n i n g m a t u r i t y a t t h e
t i m e o f t h e i n v e s t m e n t , n o i n v e s t m e n t s h a l l b e m a d e i n a n y s e c u r i t y , o t h e r
t h a n a s e c u r i t y u n d e r l y i n g a r e p u r c h a s e o r r e v e r s e r e p u r c h a s e a g r e e m e n t
a u t h o r i z e d b y t h i s s e c t i o n , t h a t a t t h e t i m e o f t h e i n v e s t m e n t h a s a t e r m
r e m a i n i n g t o m a t u r i t y i n e x c e s s o f f i v e y e a r s , u n l e s s t h e B o a r d h a s g r a n t e d
e x p r e s s a u t h o r i t y t o m a k e t h a t i n v e s t m e n t e i t h e r s p e c i f i c a l l y o r a s a p a r t o f
a n i n v e s t m e n t p r o g r a m a p p r o v e d b y t h e B o a r d n o l e s s t h a n t h r e e m o n t h s
p r i o r t o t h e i n v e s t m e n t .
3 3
VIII. Performance Standards
0
The Chief Financial Officer shall continually monitor and evaluate the
portfolio's performance. A comparison of the portfolio's performance
against a performance benchmark shall be included in the Chief Financial
Officer's quarterly report. The Chief Financial Officer shall select an
appropriate, readily available market index to use as a performance
benchmark.
IX. Reporting
The Chief Financial- Officer shall prepare and provide to the Board; and the
Executive Director, within 30 days following the end of the quarter, a
portfolio report, which includes the following information:
• Type of investment
• Name of issuer
• Date of maturity
• Date of purchase
• Par value
• Original purchase cost
• Call date (if applicable)
• Current market value of securities
• Unrealized market value gain/loss
• Coupon rate, if applicable
• Yield to maturity
• Credit quality, as determined by one or more nationally recognized credit
rating services, of each investment
• 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 Board'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.
34
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N o p e r s o n m a y e n g a g e i n i n v e s t m e n t t r a n s a c t i o n s e x c e p t a s p r o v i d e d u n d e r
t h e t e r m s o f t h i s P o l i c y a n d t h e w r i t t e n p r o c e d u r e s e s t a b l i s h e d b y t h e C h i e f
F i n a n c i a l O f f i c e r . T h e w r i t t e n p r o c e d u r e s s h o u l d a d d r e s s : d e l e g a t i o n o f
a u t h o r i t y t o s u b o r d i n a t e s t a f f m e m b e r s , c o n t r o l o f c o l l u s i o n , s e p a r a t i o n o f
t r a n s a c t i o n a u t h o r i t y f r o m a c c o u n t i n g a n d r e c o r d k e e p i n g , w r i t t e n
c o n f i r m a t i o n s o f t r a n s a c t i o n s , r e c o n c i �%i a t i o n o f c u s t o d y s t a t e m e n t s , a n d w i r e
t r a n s f e r p r o c e d u r e s a n d a g r e e m e n t s . A n i n d e p e n d e n t a n a l y s i s b y a n e x t e r n a l
a u d i t o r s h a l l b e c o n d u c t e d a n n u a l l y t o r e v i e w i n t e r n a l c o n t r o l , a c c o u n t
a c t i v i t y , a n d c o m p l i a n c e w i t h p o l i c i e s a n d p r o c e d u r e s .
X I . A u t h o r i z e d B r o k e r D e a l e r s a n d F i n a n c i a l I n s t i t u t i o n s
T h e C h i e f F i n a n c i a l O f f i c e r s h a l l m a i n t a i n a l i s t o f a u t h o r i z e d b r o k e r / d e a l e r s
a n d f i n a n c i a l i n s t i t u t i o n s w h i c h a r e a p p r o v e d f o r i n v e s t m e n t p u r p o s e s . I t
s h a l l b e t h e C o m m i s s i o n ' s p o l i c y t o p u r c h a s e s e c u r i t i e s o n l y f r o m t h o s e
a u t h o r i z e d i n s t i t u t i o n s a n d f i r m s . S e p a r a t e l i s t s s h a l l b e m a i n t a i n e d f o r
b r o k e r / d e a l e r s a n d f i n a n c i a l i n s t i t u t i o n s a p p r o v e d f o r r e p u r c h a s e a g r e e m e n t s
a n d t h o s e a p p r o v e d f o r t h e p u r c h a s e o f o t h e r s e c u r i t i e s . I f a n i n v e s t m e n t
a d v i s o r i s u s e d , t h e y m a y u s e t h e i r o w n l i s t o f a p p r o v e d b r o k e r / d e a l e r s a n d
f i n a n c i a l i n s t i t u t i o n s f o r i n v e s t m e n t p u r p o s e s .
T o b e e l i g i b l e , a f i r m m u s t m e e t t h e f o l l o w i n g m i n i m u m c r i t e r i a : ( i ) a n
i n s t i t u t i o n l i c e n s e d b y t h e s t a t e a s a b r o k e r - d e a l e r , o r f r o m a m e m b e r o f a
f e d e r a l l y r e g u l a t e d s e c u r i t i e s e x c h a n g e , f r o m a n a t i o n a l o r s t a t e - c h a r t e r e d
b a n k , f r o m a f e d e r a l o r s t a t e a s s o c i a t i o n o r f r o m a b r o k e r a g e f i r m d e s i g n a t e d
a s a p r i m a r y g o v e r n m e n t d e a l e r b y t h e F e d e r a l R e s e r v e b a n k ; a n d ( i i ) a l l
b r o k e r / d e a l e r f i r m s a n d i n d i v i d u a l s m u s t b e p r o p e r l y r e g i s t e r e d w i t h t h e
N A S D a n d / o r S E C t o t r a n s a c t b u s i n e s s i n t h e r e l e v a n t g e o g r a p h i c l o c a t i o n s
a n d p r o d u c t s e c t o r s . I n a d d i t i o n , c o u n t e r p a r t i e s f o r R e p u r c h a s e A g r e e m e n t s
s h a l l b e l i m i t e d t o p r i m a r y g o v e r n m e n t s e c u r i t i e s d e a l e r s r a t e d " A " o r b e t t e r
b y t w o n a t i o n a l l y r e c o g n i z e d r a t i n g s e r v i c e s . C o u n t e r p a r t i e s s h a l l a l s o h a v e
( i ) a s h o r t - t e r m c r e d i t r a t i n g o f a t l e a s t A - 1 / P - 1 ; ( i i ) m i n i m u m a s s e t s a n d
c a p i t a l s i z e o f $ 2 5 b i l l i o n i n a s s e t s a n d $ 3 5 0 m i l l i o n i n c a p i t a l ; ( i i i ) f i v e y e a r s
o f a c c e p t a b l e a u d i t e d f i n a n c i a l r e s u l t s ; a n d ( i v ) a s t r o n g r e p u t a t i o n a m o n g
m a r k e t p a r t i c i p a n t s .
T h e C h i e f F i n a n c i a l O f f i c e r s h a l l s e l e c t b r o k e r / d e a l e r s a n d o t h e r f i n a n c i a l
i n s t i t u t i o n s o n t h e b a s i s o f t h e f i r m ' s e x p e r t i s e a n d c r e d i t w o r t h i n e s s . T h e
C o m m i s s i o n s h a l l a n n u a l l y s e n d a c o p y o f t h e c u r r e n t i n v e s t m e n t p o l i c y t o a l l
d e a l e r s a p p r o v e d t o d o b u s i n e s s w i t h t h e C o m m i s s i o n . E a c h b r o k e r d e a l e r o r
f i n a n c i a l i n s t i t u t i o n t h a t h a s b e e n a u t h o r i z e d b y t h e C o m m i s s i o n s h a l l b e
r e q u i r e d t o s u b m i t a n d a n n u a l l y u p d a t e a B r o k e r / D e a l e r Q u e s t i o n n a i r e w h i c h
i n c l u d e s t h e f i r m ' s m o s t r e c e n t f i n a n c i a l s t a t e m e n t s . T h e C h i e f F i n a n c i a l
3 5
Officer shall maintain a file for each firm approved for investment purposes,
which includes the most recent Broker/Dealer 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 Board a statement of
investment policy, which the Board must consider at a public meeting. Any
•
36
"
"
c h a n g e s t o t h e p o l i c y s h a l l a l s o b e c o n s i d e r e d b y t h e B o a r d a t a p u b l i c
m e e t i n g .
3 7
"
A G E N D A I T E M 9
"
R I V E R S / D E C O U N T Y T R A N S P O R T A T I O N C O M M / S S / O N
D A T E :
F e b r u a r y 2 7 , 2 0 0 6
T O :
B u d g e t a n d I m p l e m e n t a t i o n C o m m i t t e e
F R O M :
T h e r e s i a T r e v i n o , C h i e f F i n a n c i a l O f f i c e r
T H R O U G H :
A n n e M a y e r , P r o g r a m m i n g a n d A d m i n i s t r a t i o n D i r e c t o r
S U B J E C T :
F i s c a l Y e a r 2 0 0 4 / 0 5 T D A a n d M e a s u r e A A u d i t R e s u l t s
S T A F F R E C O M M E N D A T I O N :
T h i s i t e m i s f o r t h e C o m m i t t e e t o :
1 ) R e c e i v e a n d f i l e t h e T r a n s p o r t a t i o n D e v e l o p m e n t A c t ( T D A ) a n d
M e a s u r e A a u d i t r e s u l t s r e p o r t f o r t h e F i s c a l Y e a r 2 0 0 4 / 0 5 ; a n d
2 ) F o r w a r d t o t h e C o m m i s s i o n f o r f i n a l a c t i o n .
B A C K G R O U N D I N F O R M A T I O N :
I n A p r i l 2 0 0 3 , C a p o r i c c i & L a r s o n ( C & L ) w a s s e l e c t e d t o p e r f o r m t h e a u d i t s o f
R i v e r s i d e C o u n t y ' s T D A c l a i m a n t s a n d M e a s u r e A r e c i p i e n t s , e x c e p t f o r t h e
R i v e r s i d e T r a n s i t A g e n c y w h i c h e l e c t e d t o s e l e c t i t s a u d i t f i r m . T h i s i s t h e t h i r d
y e a r t h a t C & L h a s p e r f o r m e d t h e s e a u d i t s f o r t h e C o m m i s s i o n ; h o w e v e r , i t d i d n o t
p e r f o r m t h e a u d i t f o r t h e c i t y o f B e a u m o n t . I n O c t o b e r 2 0 0 5 , t h e c i t y o f B e a u m o n t
w a s n o t i f i e d b y t h e C o m m i s s i o n t o e n g a g e a n a u d i t f i r m t o p e r f o r m t h e f i n a n c i a l
a n d c o m p l i a n c e a u d i t s o f i t s t r a n s i t a n d t r a n s p o r t a t i o n f u n d s f o r t h e f i s c a l y e a r s
( F Y ) 2 0 0 3 / 0 4 a n d 2 0 0 4 / 0 5 . C & L h a s c o m p l e t e d t h e a u d i t s o f a n d i s s u e d t h e a u d i t
r e p o r t s f o r m o s t o f t h e l o c a l g o v e r n m e n t s , n o n - p r o f i t a g e n c i e s , a n d t r a n s i t a g e n c i e s
t h a t r e c e i v e d T D A a n d M e a s u r e A f u n d s .
P r o f e s s i o n a l a u d i t i n g s t a n d a r d s r e q u i r e t h e a u d i t o r s t o c o m m u n i c a t e t o t h e a u d i t
c o m m i t t e e , o r a n e q u i v a l e n t g r o u p , t o e n s u r e a d d i t i o n a l i n f o r m a t i o n i s p r o v i d e d
r e g a r d i n g t h e s c o p e a n d r e s u l t s o f t h e a u d i t t h a t m a y a s s i s t i n o v e r s e e i n g
m a n a g e m e n t ' s f i n a n c i a l r e p o r t i n g a n d d i s c l o s u r e p r o c e s s r e l a t e d t o t h e T D A
c l a i m a n t s a n d M e a s u r e A r e c i p i e n t s . S u c h c o m m u n i c a t i o n s r e l a t e d t o C & L ' s
r e s p o n s i b i l i t i e s a n d a p p r o a c h , s u m m a r y o f r e s u l t s , a n d p r e l i m i n a r y f i n d i n g s w e r e
d i s c u s s e d b y C a p o r i c c i & L a r s o n w i t h t h e A u d i t A d H o c C o m m i t t e e . F o l l o w i n g a r e
h i g h l i g h t s f r o m C & L ' s p r e s e n t a t i o n :
3 8
" O f t h e $ 1 0 7 , 6 0 1 , 0 0 0 d i s t r i b u t e d r e l a t e d t o M e a s u r e A , S t a t e T r a n s i t
A s s i s t a n c e , a n d T r a n s p o r t a t i o n D e v e l o p m e n t A c t , $ 6 7 , 7 5 2 , 0 0 0 , o r 6 3 % ,
w a s a u d i t e d b y C & L . T h i s c o m p r i s e d 3 3 r e c i p i e n t s w h o r e c e i v e d f u n d s f o r
t r a n s i t , l o c a l s t r e e t s a n d r o a d s , a n d b i c y c l e a n d p e d e s t r i a n p r o j e c t p u r p o s e s .
" $ 3 9 , 8 4 9 , 0 0 0 * , o r 3 7 % , w a s n o t a u d i t e d b y C & L . T h e m a j o r i t y o f t h e s e
d i s b u r s e m e n t s w e r e r e l a t e d t o T D A p l a n n i n g a n d a d m i n i s t r a t i o n f u n d s t o
a g e n c i e s , i n c l u d i n g t h e C o m m i s s i o n , a s w e l l a s M e a s u r e A a n d T D A f u n d s t o
t h e c i t y o f B e a u m o n t a n d t h e R i v e r s i d e T r a n s i t A g e n c y .
" A s o f F e b r u a r y 3 , 2 0 0 6 , 2 6 r e p o r t s w e r e ' i s s u e d . F i e l d w o r k w a s
s u b s t a n t i a l l y c o m p l e t e d f o r s i x a d d i t i o n a l r e c i p i e n t s ( V o l u n t e e r C e n t e r o f
A m e r i c a , S a n J a c i n t o , R i v e r s i d e , S u n L i n e T r a n s i t , C o r o n a , a n d P a l o V e r d e
V a l l e y T r a n s i t A g e n c y ) ; i s s u a n c e o f t h e s e f i n a l r e p o r t s w a s p e n d i n g
r e s o l u t i o n o f o p e n i t e m s a n d c o m p l e t i o n o f q u a l i t y r e v i e w p r o c e d u r e s .
F i e l d w o r k f o r o n e r e c i p i e n t ( C o u n t y o f R i v e r s i d e ) h a s c o m m e n c e d b u t w i l l n o t
b e c o m p l e t e d u n t i l M a r c h 2 0 0 6 , a n d s u c h f i e l d w o r k w i l l i n c l u d e c o m p l e t i o n
o f t h e F Y 2 0 0 3 / 0 4 a u d i t .
" F i n d i n g s a n d o b s e r v a t i o n s w e r e d i s c u s s e d , a n d s i g n i f i c a n t m a t t e r s a r e
p r e s e n t e d b e l o w .
T h e r e w e r e t h r e e f i n d i n g s r e l a t e d t o t h e M e a s u r e A S p e c i a l i z e d T r a n s i t P r o g r a m :
" . C a r e - A - V a n ' s m a t c h i n g f u n d s i n c l u d e d i n - k i n d c o n t r i b u t i o n s w h i c h w e r e n o t
s u p p o r t e d b y t h i r d p a r t y d o c u m e n t a t i o n a n d w e r e r e l a t e d t o v o l u n t e e r h o u r s
f r o m a f u l l - t i m e , s a l a r i e d m a n a g e r .
" C a r e C o n n e x x u s a n d I n l a n d A I D S p r o j e c t o b t a i n e d ' ' i n s u r a n c e f r o m i n s u r a n c e
c o m p a n i e s w h i c h d i d n o t m e e t t h e C o m m i s s i o n ' s m i n i m u m s t a n d a r d , a n d
t h e s e a g e n c i e s h a d n o t r e q u e s t e d a w a i v e r .
A s a r e s u l t o f t h e c u r r e n t a n d p r i o r y e a r s ' f i n d i n g s r e l a t e d - t o t h e M e a s u r e A
S p e c i a l i z e d T r a n s i t P r o g r a m , s t a f f h a s c o n s i d e r e d t h e s e m a t t e r s i n t h e d e v e l o p m e n t
o f t h e M e a s u r e A S p e c i a l i z e d T r a n s i t C a l l f o r P r o j e c t s w h i c h w a s r e l e a s e d F e b r u a r y
1 0 , 2 0 0 6 . S u c h c h a n g e s i n c l u d e t h e f o l l o w i n g :
" Q u a l i f y i n g i n - k i n d c o n t r i b u t i o n s a n d a c c e p t a b l e s u p p o r t i n g d o c u m e n t a t i o n
w e r e d e f i n e d .
" E x c e p t i o n s t o t h e m o d e l a g r e e m e n t , i n c l u d i n g i n s u r a n c e r e q u i r e m e n t s w h i c h
h a v e b e e n r e d u c e d t o n o l e s s t h a n A - : V I I , m u s t b e n o t e d i n t h e p r o p o s a l
s u b m i t t e d .
" A u d i t s r e q u i r e d b y t h e C o m m i s s i o n m u s t b e c o m p l e t e d i n a t i m e l y a n d
c o o p e r a t i v e m a n n e r o r f u n d i n g m a y b e s u s p e n d e d .
T h e r e w e r e t w o f i n d i n g s a n d a n o b s e r v a t i o n r e l a t e d t o T D A A r t i c l e 4 T r a n s i t :
"
3 9
"
" C i t y o f R i v e r s i d e S p e c i a l S e r v i c e s T r a n s i t d i d n o t m e e t i t s r e q u i r e d f a r e r a t i o
o f 1 0 1 3 / 0 . T h e a c t u a l f a r e r a t i o w a s 9 . 9 % . T h i s i s t h e f i r s t y e a r o f
n o n c o m p l i a n c e , a n d a s a r e s u l t t h i s y e a r i s d e e m e d a g r a c e y e a r .
" C i t y o f C o r o n a T r a n s i t r e c e i v e d c a p i t a l f u n d s i n F Y 2 0 0 4 / 0 5 i n e x c e s s o f
a m o u n t s s p e n t w h i c h w a s n o t i n c o m p l i a n c e w i t h T D A r e g u l a t i o n s .
" T h e a u d i t o r s o b s e r v e d t h a t s o m e t r a n s i t o p e r a t o r s a r e e x c l u d i n g c a p i t a l
p u r c h a s e s w h i c h w e r e n o t c a p i t a l i z e d i n a c c o r d a n c e w i t h a g e n c y a c c o u n t i n g
p o l i c i e s f r o m o p e r a t i n g e x p e n s e s i n t h e f a r e r a t i o c a l c u l a t i o n . C u r r e n t T D A
a n d C o m m i s s i o n f a r e r a t i o p o l i c i e s h a v e n o t a d d r e s s e d i f t h i s d e d u c t i o n i s
p e r m i t t e d ; h o w e v e r , i t h a s b e e n d o n e i n p a s t a u d i t s b a s e d o n a r e v i e w o f
a u d i t r e p o r t s . T h i s i s s u e w a s h i g h l i g h t e d i n t h e c u r r e n t y e a r a s o n e o p e r a t o r
w o u l d n o t h a v e m e t t h e f a r e r a t i o r e q u i r e m e n t i f t h i s d e d u c t i o n w e r e n o t
a l l o w e d .
A s a r e s u l t o f t h e d i s c u s s i o n r e g a r d i n g t h e s e m a t t e r s , s t a f f w a s d i r e c t e d b y t h e
A u d i t A d H o c C o m m i t t e e t o r e v i e w b e s t p r a c t i c e s a n d a p p l i c a b l e r e g u l a t i o n s t o
d e t e r m i n e i f a n y c h a n g e s s h o u l d b e p r o p o s e d t o t h e C o m m i s s i o n ' s t r a n s i t c a p i t a l
g r a n t f u n d i n g p r o c e s s a n d f a r e r a t i o p o l i c y .
A t t a c h e d i s t h e s u m m a r y o f t r a n s p o r t a t i o n a n d t r a n s i t f u n d o p e r a t i o n s a n d r e l a t e d
a u d i t r e s u l t s f o r t h e v a r i o u s t y p e s o f T D A ( A r t i c l e s 3 , 4 , a n d 8 ) a n d M e a s u r e A
( s p e c i a l i z e d t r a n s i t a n d l o c a l s t r e e t s a n d r o a d s ) f u n d i n g . E a c h s c h e d u l e p r o v i d e s
i n f o r m a t i o n f o r e a c h c l a i m a n t a n d r e c i p i e n t r e g a r d i n g t h e r e v e n u e s ,
e x p e n d i t u r e s / e x p e n s e s , a n d c h a n g e i n f u n d b a l a n c e / n e t a s s e t s f o r t h e y e a r e n d e d
J u n e 3 0 , 2 0 0 5 ; o t h e r f i n a n c i a l a n d c o m p l i a n c e i n f o r m a t i o n ; s u m m a r y o f
o b s e r v a t i o n s a n d f i n d i n g s ; a n d o t h e r i n f o r m a t i o n p e r t a i n i n g t o t h e , s t a t u s o r s c o p e
o f w o r k p e r f o r m e d .
A t t a c h m e n t s :
1 ) T r a n s p o r t a t i o n D e v e l o p m e n t A c t A r t i c l e 3 S c h e d u l e
2 ) T r a n s p o r t a t i o n D e v e l o p m e n t A c t A r t i c l e 4 S c h e d u l e
3 ) T r a n s p o r t a t i o n D e v e l o p m e n t A c t A r t i c l e 8 S c h e d u l e
4 ) M e a s u r e A S p e c i a l i z e d T r a n s i t S c h e d u l e
5 ) M e a s u r e A L o c a l S t r e e t s a n d R o a d s S c h e d u l e a n d C o m m e n t s
4 0
" " "
R e v e n u e s :
I n t e r g o v e r n m e n t a l a l l o c a t i o n s :
A r t i c l e 3
O t h e r r e v e n u e s
I n t e r e s t i n c o m e
T o t a l r e v e n u e s
T o t a l e x p e n d i t u r e s
E x c e s s ( d e f i c i e n c y ) o f r e v e n u e s o v e r
( u n d e r ) e x p e n d i t u r e s
T r a n s f e r s i n ( o u t )
E x c e s s ( d e f i c i e n c y ) o f r e v e n u e s a n d
p t r a n s f e r s i n o v e r ( u n d e r ) e x p e n d i t u r e s
T r a n s p o r t a t i o n D e v e l o p m e n t A c t A r t i c l e 3 S c h e d u l e
Y e a r E n d e d J u n e 3 0 , 2 0 0 5
( N o t e 1 )
C a t h e d r a l D e s e r t H o t M o r e n o P a l m C o u n t y o f S a n
B a n n i n g B l y t h e C i t y S p r i n g s I n d i o V a l l e y S p r i n g s P e r r i s R i v e r s i d e R i v e r s i d e J a c i n t o T e m e c u l a
( D r a f t ) ( D r a f t )
$ 1 1 , 4 1 8 $ 2 9 , 9 0 0 $ - $ 3 5 , 0 0 0 $
7 3 0
1 2 , 1 4 8 2 9 , 9 0 0 3 5 , 0 0 0
2 5 , 3 3 2 2 9 , 9 0 0 3 5 , 0 0 0
$ 6 8 , 9 0 2 $ 3 0 , 4 2 6 $ 8 5 , 0 0 0 $ 3 1 3 , 3 3 8 $ - $ 5 2 , 0 0 0 $ 6 5 , 1 2 7
7 8 5 - - -
( 6 , 9 7 3 ) - 1 , 0 0 0 - 2 6 1
6 2 , 7 1 4 3 0 , 4 2 6 8 6 , 0 0 0 3 1 3 , 3 3 8 5 2 , 0 0 0 6 5 , 3 8 8
6 2 , 7 1 4 3 0 , 4 2 6 1 9 6 , 2 8 5 3 1 3 , 3 3 8 5 2 , 0 0 0
- ( 2 5 0 , 0 0 0 )
- ( 2 5 0 , 0 0 0 )
F u n d b a l a n c e s a t b e g i n n i n g o f y e a r 6 , 6 4 7 - 4 1 7 , 9 4 4 - 5 6 , 8 1 0
F u n d b a l a n c e s a t e n d o f y e a r $ 4 , 8 8 1 $ $ - $ - $ $ 1 6 7 , 9 4 4 $ - $ ( 5 3 , 4 7 5 ) $ - $ $ - $
D e f e r r e d r e v e n u e s a t e n d o f y e a r $ $ $ $ 3 0 , 0 0 0 $ 1 , 4 1 1 $ 1 0 , 2 1 8 $ - $ - $ 5 3 , 1 0 2 $ $ - $ 3 4 , 8 7 3
N o a c t i v i t y
- ( 1 1 0 , 2 8 5 )
6 5 , 3 8 8
( 1 3 , 1 8 4 )
1 1 , 4 1 8
( 1 , 7 6 6 )
- ( 1 1 0 , 2 8 5 )
- ( 6 5 , 3 8 8 )
S o u r c e : 2 0 0 5 F i n a n c i a l S t a t e m e n t s
N o t e 1 2 0 0 4 a n d 2 0 0 5 a u d i t s h a v e n o t b e e n c o m p l e t e d .
S u m m a r y o f O b s e r v a t i o n s ( A r t i c l e 3 a l l o c a t i o n s a r e f o r s p e c i f i c b i c y c l e a n d p e d e s t r i a n p r o t e c t s a p p r o v e d b y t h e C o m m i s s i o n )
1 C a t h e d r a l C i t y s u b m i t t e d a c l a i m f o r $ 6 0 , 0 0 0 s u b s e q u e n t t o y e a r e n d f o r F Y 2 0 0 4 / 0 5 , w h i c h w a s a c c r u e d b y R C T C a s p a y a b l e . A m o u n t t o b e i n c l u d e d i n F Y 2 0 0 5 / 0 6 a u d i t .
2 I n d i o h a s n o t e x p e n d e d i t s d e f e r r e d b a l a n c e , w h i c h i s a c a r r y o v e r f r o m F Y 2 0 0 4 .
3 D e s e r t H o t S p r i n g s h a s n o t e x p e n d e d i t s d e f e r r e d b a l a n c e , w h i c h w a s r e l a t e d t o a c l a i m s u b m i t t e d s u b s e q u e n t t o y e a r e n d f o r F Y 2 0 0 5 .
4 T e m e c u l a h a s n o t e x p e n d e d i t s d e f e r r e d b a l a n c e , w h i c h w a s r e c e i v e d i n F Y 2 0 0 5 .
5 M o r e n o V a l l e y h a s n o t e x p e n d e d i t s d e f e r r e d b a l a n c e , w h i c h w a s r e c e i v e d i n F Y 2 0 0 5 .
6 M o r e n o V a l l e y h a s r e c o r d e d i n t e r e s t i n c o m e i n M e a s u r e A f u n d w h i l e u n r e a l i z e d g a i n ( l o s s ) o n i n v e s t m e n t s i s r e c o r d e d i n A r t i c l e 3 f u n d . F u n d b a l a n c e i s r e l a t e d t o t r a n s f e r s i n
p r i m a r i l y f r o m M e a s u r e A f u n d .
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Transportation Development Act Article 8 Schedule
Year ended June 30, 2005
•
(Note 1)
County of
Blythe Riverside
Revenues:
Intergovernmental allocations:
Article 8 $ $
Other revenues
Interest income
Total revenues
Total expenditures 495,279
Excess (deficiency) of revenues over (under) expenditures (495,279)
Prior period adjustments (6,370)
w Fund balances at beginning of year (42,524)
Fund balances at end of year $(544,173) $
Source: 2005 Financial Statements
Note 1 2004 and 2005 audits have not been completed.
Summary of Observations (Article 8 allocations for Western County and Coachella Valley ended in 1993 and 1987, respectively, as available LTF funds are
now used to meet transit needs. Article 8 allocations for Palo Verde Valley are subject to an annual unmet needs hearing.)
1 Blythe has significant negative fund balance. Expenditures were not budgeted for. No disbursements of Article 8 revenue to Blythe have been made in
recent years due to unmet needs in PVV.
Section 99400 (a) 2/22/2006
Measure A Specialized Transit Schedule
Year Ended June 30, 2005
(Note 1A) (Note 1A) (Note 1A) (Note 1B)
Partners for Friends of
Care Inland Aids Independent Volunteer Moreno Blindness Beaumont
Care -A -Van Connexxus Project Living Center Valley Support USD DPI
Operating revenues: - -
Measure A $ 195,500 $ 65,000 $ 89,000 $ 304,973 $ $ 44,800 $ 62,465 $ 45,977 N/A
Interest income - - 467
Other revenue 99,958
Total operating revenues 195,500 164,958 89,000 305,440
Total operating expenses - 209,870 164,958 89,000 305,440 $.79,547 $ 62,470 $ 26,351 N/A
Excess (deficiency) of operating revenues over
(under) operating expenses (14,370)
Nonoperating revenue:
Transfers in (out)
Change in net assets (14,370)
Prior period adjustment - -
Net assets at beginning of year 30,742 - 19,777 32,728
A Net assets at end of year $ 16,372 $ - $ 19,777 $ $ - 32,728
Deferred revenues $ $ $ - $ $
Match requirement $ 98,000 $ 65,000 $ 89,000 $ 393,410 $
Actual match $ S _ $ 99,958 $ 89,000 $ 641,994 $
Match requirement compliance status
Source: 2005 Financial Statements
$ 22,400 N/A $ 26,821
Requires
Follow Up Met Met Met In Comp! N/A In Comp!
Note 1A Full -scope audit was not performed due to grant amounts and/or purpose; however, agreed -upon procedures were performed related to the agreement and grant
expenditures.
Note 1 B DPI provided administration services for the taxi -demonstration program. Agreed -upon procedures were performed, related to the agreement.
Note 2
Note 3
Summary of Observations (Measure A specialized transit grants are provided in two-year cycles, most recent cycle ended June.30, 2004) and Findings
1 Care-A-Van's in -kind match included volunteer time for full-time salaried program coordinator as well as potentially insufficient supporting documentation created
internally.
2 Care Connexxus had two findings regarding general liability and automobile insurance placed with insurers not meeting RCTC requirement.
3 Inland Aids had current year finding regarding insurance with insurer not meeting RCTC minimum standards which was corrected as of 7/1/05.
4 Beaumont USD has unexpended balance which must have RCTC approval for carryover. into FY2006.
Measure A Transit � 2/22®6
" " "
M e a s u r e A L o c a l S t r e e t s a n d R o a d s S c h e d u l e
Y e a r E n d e d J u n e 3 0 , 2 0 0 5
N o t e 1 2 0 0 4 a n d 2 0 0 5 a u d i t s h a v e n o t b e e n c o m p l e t e d .
S u m m a r y o f O b s e r v a t i o n s a n d F i n d i n g s
1 I n d i o h a s a c c u m u l a t e d o v e r 3 y e a r s o f r e v e n u e i n f u n d b a l a n c e .
2 N o r c o h a s a c c u m u l a t e d o v e r 3 y e a r s o f r e v e n u e i n f u n d b a l a n c e .
3 C a l i m e s a h a s a c c u m u l a t e d o v e r 3 y e a r s o f r e v e n u e i n f u n d b a l a n c e .
4 C o a c h e l l a h a d n o t s u b m i t t e d 5 y r C I P u n t i l 1 2 / 0 5 a n d i t w a s a p p r o v e d a t 1 / 0 6 R C T C m e e t i n g . A d d i t i o n a l l y , c i t y h a d
n o t c o m p l e t e d i t s s t a t e c o n t r o l l e r s s t r e e t r e p o r t r e q u i r e d f o r M O E c a l c u l a t i o n a n d a m o u n t f o r M O E w a s s h o w n a s
$ 0 . C i t y u s e d e x c e s s M O E c a r r y o v e r , w h i c h w a s s u f f i c i e n t t o m e e t c u r r e n t y e a r r e q u i r e m e n t a n d w i l l b e s u f f i c i e n t
t h r o u g h t h e e n d o f M e a s u r e A .
5 M u r r i e t a h a s a c c u m u l a t e d o v e r 3 y e a r s o f r e v e n u e i n f u n d b a l a n c e .
6 N o r c o a n d S a n J a c i n t o h a v e u n e x p e n d e d i n v e s t m e n t s f r o m 1 9 9 7 b o n d s i s s u e d b y R C T C f o r l o c a l p r o j e c t s .
c n 7 R i v e r s i d e h a s a c c u m u l a t e d o v e r 3 y e a r s o f r e v e n u e i n f u n d b a l a n c e .
8 P e r r i s h a s a c c u m u l a t e d o v e r 3 y e a r s o f r e v e n u e i n f u n d b a l a n c e .
M e a s u r e A L S R C o m m e n t s 1 2 / 2 2 / 2 0 0 6
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M e a s u r e A L o c a l S t r e e t s a n d R o a d s S c h e d u l e
Y e a r e n d e d J u n e 3 0 , 2 0 0 5
I
I
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T .
B a n n i n g B e a u m o n t C a l i m e s a C o r o n a H e m e t L a k e E l s i n o r e M o r e n o V a l l e y M u r r i e t a N o r c o
C o m p o n e n t s o f f u n d b a l a n c e s :
R e s e r v e d f o r e n c u m b r a n c e s $ - $ - $ - $ 4 1 9 , 3 9 4 $ 1 0 4 , 4 9 5 $ 6 0 , 0 0 0 $ 1 , 4 9 5 , 9 0 2 $ $
R e s e r v e d f o r s p e c i f i c p r o j e c t s - 2 , 8 7 2 , 0 4 7 - -
R e s e r v e d f o r c o n t i n u i n g a p p r o p r i a t i o n s
R e s e r v e d f o r a d v a n c e s - 7 9 7 , 8 1 0
D e s i g n a t e d f o r s p e c i f i c / f u t u r e p r o j e c t s o r c o n t a p p r o p - - - 2 , 3 7 8 , 8 6 5 -
U n r e s e r v e d , u n d e s i g n a t e d 6 5 7 , 9 5 2 5 5 9 , 7 6 7 5 , 1 7 0 , 3 9 2 3 , 4 2 8 , 3 3 3 9 2 7 , 5 0 2 1 , 2 7 8 , 4 2 5 6 , 1 1 3 , 8 2 2 3 , 9 9 9 , 1 6 7
T o t a l f u n d b a l a n c e s b y c o m p o n e n t $ 6 5 7 , 9 5 2 $ $ 5 5 9 , 7 6 7 $ 8 , 4 6 1 , 8 3 3 $ 3 , 5 3 2 , 8 2 8 $ 9 8 7 , 5 0 2 $ 5 , 1 5 3 , 1 9 2 $ 6 , 1 1 3 , 8 2 2 $ 4 , 7 9 6 , 9 7 7
F u n d b a l a n c e b y y e a r r e c e i v e d :
2 0 0 5 $ 6 5 7 , 9 5 2 $ - $ 1 8 6 , 7 6 6 $ 4 , 9 3 8 , 5 2 7 $ 1 , 9 0 4 , 1 0 0 $ 9 8 7 , 5 0 2 $ 5 , 0 1 8 , 9 0 5 $ 2 , 2 6 0 , 2 2 5 $ 1 , 1 9 6 , 5 9 1
2 0 0 4 - - 1 7 0 , 5 9 8 3 , 5 2 3 , 3 0 6 1 , 6 2 8 , 7 2 8 - 1 3 4 , 2 8 7 1 , 4 2 1 , 9 7 8 8 5 3 , 8 7 0
2 0 0 3 1 7 5 , 3 0 6 - 1 , 5 0 4 , 9 9 5 1 , 1 1 7 , 1 0 3
, p 2 0 0 2 2 7 , 0 9 7 9 2 6 , 6 2 4 5 9 5 , 2 0 4
' 2 0 0 1 - - 6 5 7 , 5 2 1
1 9 9 8 - - - 3 7 6 , 6 8 8
T o t a l f u n d b a l a n c e s b y y e a r r e c e i v e d $ 6 5 7 , 9 5 2 $ $ 5 5 9 , 7 6 7 $ 8 , 4 6 1 , 8 3 3 $ 3 , 5 3 2 , 8 2 8 $ 9 8 7 , 5 0 2 $ 5 , 1 5 3 , 1 9 2 $ 6 , 1 1 3 , 8 2 2 $ 4 , 7 9 6 , 9 7 7
N o t e s p a y a b l e t o R C T C a t e n d o f y e a r $ $ - $ - $ 1 , 9 0 7 , 2 6 4 $ P d o f f 2 0 0 5 $ $ $ 7 9 7 , 8 1 0
A m o u n t o f E x c e s s M O E a t e n d o f y e a r $ 2 , 3 8 2 , 4 0 1 $ N / A $ 2 3 , 5 6 6 , 8 0 9 $ 4 , 9 5 7 , 9 0 6 $ 8 , 3 1 9 , 6 9 9 $ 1 8 , 5 1 1 , 3 9 8 N / A $ 2 , 9 0 4 , 5 5 0
M O E c o m p l i a n c e s t a t u s M e t N / A M e t M e t w / u s e o f M e t M e t N / A M e t
( N o t e 2 ) e x c e s s M O E ( N o t e 2 )
S o u r c e : 2 0 0 5 F i n a n c i a l S t a t e m e n t s
M e a s u r e A L S R 2 o f 6 2 / 2 2 / 2 0 0 6
Measure A Local Streets and Roads Schedule
Year ended June 30, 2005
Revenues:
Intergovernmental allocations:
Measure A
Reimbursements
Reimbursements from regional arterial program
Other revenues
Interest income
Total revenues
Expenditures:
Construction and maintenance
Engineering and administration
Land
Regional arterial improvements
Debt service:
Principal
Interest
Total expenditures
Excess (deficiency) of revenues over (under) expenditures
Western Count
Perris Riverside San Jacinto
i
I
Temecula City
Coachella Valley
ZTesen-7: '
Coachella Springs Indian Wells
(Draft) (Draft)
$ 1,145,171 $ 8,827,615 $ 678,134 $ 3,155,455 $1,615,093 $
84,336
1,229,507
128
680,759
9,508,502
21,915 115,599 56,646
700,049 3,271,054 1,671,739
254,007 12,034,932 1,682,952
171,663
43,692
469,362 12,034,932
760,145 (2,526,430)
Transfers in (out) (10,000)
Excess (deficiency) of revenues and transfers in over (under)
expenditures 750,145
Prior period adjustment
Fund balances at beginning of year 3,077,378
Fund balances at end of year $ 3,827,523
Measure A LSR
•
4,975,000
117,416
29,885
2,030,253
(1,330,204)
2,448,570 (1,330,204)
37,208,703
$ 39,657,273
(1)
2,338,268
$ 1,008,063
- 1,579,210
45i,584
114,938
566,522 549,990 415,927
2,704,532 11,142 (201,126) (182,581)
(2,546,000) 100,000
158,532 92,529 11,142 (101,126) (182,581)
- $ 334,053 $ 215,025
11,142
11,142
14,811
348,864
18,321
233,346
549,990 415,927
4,555;084
$ 4,713,616
1,579,210
92,529
2,969,615 809,837 835,506 771,899
$3,062,144 $ 820,979 $ 734,380 $ 589,318
3 of 6 2/22/2006
• •
Measure A Local Streets and Roads Schedule
Year ended June 30, 2005
• •
1
Western County f Coachella Valley
J 7.3tMeTraT —CfM 1-Mt"
Perris Riverside San Jacinto Temecula City Coachella Springs Indian Wells
Components of fund balances:
Reserved for encumbrances $ - $ 5,757,075 $ 24,582 $ - $ - $ - $ - $
Reserved for specific projects
Reserved for continuing appropriations
Reserved for advances -
Designated for specific/future projects or cont approp - 22,868,370 - - - -
Unreserved, undesignated 3,827,523 11,031,828 983,481 4,713,616 3,062,144 820,979 734,380 589,318
Total fund balances by component $ 3,827,523 $ 39,657,273 $ 1,008,063 $ 4,713,616 $3,062,144 $ 820,979 $ 734,380 $ 589,318
Fund balance by year received
2005 $ 1,229,507 $ 9,508,502 $ 441,145 $ 3,271,054 $1,671,739 $ 11,142 $ 348,864 $ 233,346
2004 1,107,190 8,402,011 - 1,442,562 1,390,405 375,960 286,456 186,241
2003 1,235,464 9,308,641 433,877 99,060 169,731
A 2002 255,362 7,969,961
Cp 2001 - 4,468,158 - -
1998 - 566,918 - - -
Total fund balances by year received $ 3,827,523 $ 39,657,273 $ 1,008,063 $ 4,713,616 $3,062,144 $ 820,979 $ 734,380 $ 589,318
Notes payable to RCTC at end of year
Amount of Excess MOE at end of year
MOE compliance status
Source: 2005 Financial Statements
$ 751,003 $ $ 514,335 $ 1,978,126 $ $ - $ - $
$ 12,750,688 $ 9,879,338 $ 9,122,140 N/A $1,625,992 $1,275,779 $ 295,467 $ 17,285,374
Met Mel w/use of Met N/A Met Met w/use of Met w/use of Met
excess MOE (Note 2) excess MOE excess MOE
Measure A LSR 4 of 6 2/22/2006
Measure A Local Streets and Roads Schedule
Year ended June 30, 2005
rnr6Verde r____j
Coachella Valley t Valley t
l7&M° i f County of t
Indio Palm Desert Palm Springs Mirage Blythe Riverside
(Note 1)
Revenues:
Intergovernmental allocations:
Measure A $ 1,361,672 $ 2,385,026 $ 1,698,369 $ 880,844 $ 894,487 $
Reimbursements 554,830 37,085 2,387,689
Reimbursements from regional arterial program 483,906
Other revenues 7,295
Interest income 92,144 76,519 122,256 50,336 26,382
Total revenues 1,453,816 3,023,670 2,341,616 3,318,869 920,869
Expenditures:
Construction and maintenance 1,003,437 1,110,423 847,233 3,627,376 701,112
Engineering and administration
Land
Cn Regional arterial improvements 500,426
Debt service:
Principal
Interest
Total expenditures 1,003,437 1,110,423 1,347,659 3,627,376 701,112
Excess (deficiency) of revenues over (under) expenditures 450,379 1,913,247 993,957 (308,507) 219,757
Transfers in (out) 753
Excess (deficiency) of revenues and transfers in over (under)
expenditures 451,132 1,913,247 993,957 (308,507) 219,757
Prior period adjustment
Fund balances at beginning of year 4,055,661 3,927,196 4,549,748 2,383,482 1,070,397
Fund balances at end of year $ 4,506,813 $ 5,840,443 $ 5,543,705 $ 2,074,975 $ 1,290,154 $
Measure A LSR 5 of 6 2/22/2006
® •
" � "
M e a s u r e A L o c a l S t r e e t s a n d R o a d s S c h e d u l e
Y e a r e n d e d J u n e 3 0 , 2 0 0 5
C o m p o n e n t s o f f u n d b a l a n c e s :
R e s e r v e d f o r e n c u m b r a n c e s
R e s e r v e d f o r s p e c i f i c p r o j e c t s
R e s e r v e d f o r c o n t i n u i n g a p p r o p r i a t i o n s
R e s e r v e d f o r a d v a n c e s
D e s i g n a t e d f o r s p e c i f i c / f u t u r e p r o j e c t s o r c o n t a p p r o p
U n r e s e r v e d , u n d e s i g n a t e d
T o t a l f u n d b a l a n c e s b y c o m p o n e n t
F u n d b a l a n c e b y y e a r r e c e i v e d :
C o a c h e l l a V a l l e y I V a l l e y
' R a n S h o ` , C o u n t y o f I
I n d i o P a l m D e s e r t P a l m S p r i n g s M i r a g e B l y t h e j R i v e r s i d e
- $ 4 1 2 , 7 7 4 $ 1 , 2 8 2 , 1 6 6 $ 2 , 0 7 4 , 9 7 5 $ - $
2 , 5 4 1 , 3 3 5 6 , 4 2 5 , 0 2 9
2 , 8 8 6 , 3 3 4
4 , 5 0 6 , 8 1 3 ( 2 , 1 6 3 , 4 9 0 ) 1 , 2 9 0 , 1 5 4
$ 4 , 5 0 6 , 8 1 3 $ 5 , 8 4 0 , 4 4 3 $ 5 , 5 4 3 , 7 0 5 $ 2 , 0 7 4 , 9 7 5 $ 1 , 2 9 0 , 1 5 4 $
2 0 0 5 $ 1 , 4 5 3 , 8 1 6 $ 3 , 0 2 3 , 6 7 0 $ 2 , 3 4 1 , 6 1 6 $ 2 , 0 7 4 , 9 7 5 $ 9 2 0 , 8 6 9 $
2 0 0 4 1 , 2 0 5 , 8 1 8 2 , 8 1 6 , 7 7 3 1 , 8 6 9 , 1 5 8 - 3 6 9 , 2 8 5
2 0 0 3 1 , 3 1 5 , 0 4 6 - 1 , 3 3 2 , 9 3 1 -
U i 2 0 0 2 5 3 2 , 1 3 3
a . 2 0 0 1 -
1 9 9 8 -
T o t a l f u n d b a l a n c e s b y y e a r r e c e i v e d $ 4 , 5 0 6 , 8 1 3 $ 5 , 8 4 0 , 4 4 3 $ 5 , 5 4 3 , 7 0 5 $ 2 , 0 7 4 , 9 7 5 $ - T ; 2 9 0 , 1 5 4 $
N o t e s p a y a b l e t o R C T C a t e n d o f y e a r $ $ $
A m o u n t o f E x c e s s M O E a t e n d o f y e a r $ 1 8 , 2 3 4 , 9 0 8 $ 6 1 , 8 9 9 , 5 6 9 $ 2 0 , 7 3 8 , 0 4 6 $ 2 6 , 3 0 5 , 5 8 1 $ 2 , 5 3 4 , 6 3 9 $
M O E c o m p l i a n c e s t a t u s
S o u r c e : 2 0 0 5 F i n a n c i a l S t a t e m e n t s
M e t M e l M e t M e t M e t w / u s e o f
e x c e s s M O E
M e a s u r e A L S R 6 o f 6 2 / 2 2 / 2 0 0 6
"
R I V E R S I D E C O U N T Y T R A N S P O R T A T I O N C O M M / S S / O N
D A T E :
F e b r u a r y 2 7 , 2 0 0 6
T O :
B u d g e t a n d I m p l e m e n t a t i o n C o m m i t t e e
F R O M :
M i c h e l e C i s n e r o s , A c c o u n t i n g M a n a g e r
T H R O U G H :
T h e r e s i a T r e v i n o , C h i e f F i n a n c i a l O f f i c e r
S U B J E C T :
P r o p o s e d P o l i c y G o a l s a n d O b j e c t i v e s f o r F i s c a l Y e a r
B u d g e t
2 0 0 6 / 0 7
S T A F F R E C O M M E N D A T I O N :
T h i s i t e m i s f o r t h e C o m m i t t e e t o :
1 ) A p p r o v e t h e p r o p o s e d C o m m i s s i o n P o l i c y G o a l s a n d O b j e c t i v e s f o r t h e
F i s c a l Y e a r 2 0 0 6 / 0 7 B u d g e t ; a n d
2 ) F o r w a r d t o t h e C o m m i s s i o n f o r f i n a l a c t i o n .
B A C K G R O U N D I N F O R M A T I O N :
T h e i n i t i a l s t e p i n t h e b u d g e t p r o c e s s i s t o d e v e l o p p o l i c y g o a l s a n d o b j e c t i v e s f o r
, t h e f i s c a l y e a r . T h e s e g o a l s a n d o b j e c t i v e s a r e t o b e c o n s i s t e n t w i t h t h e
C o m m i s s i o n ' s o v e r a l l s t r a t e g i c d i r e c t i o n . T h i s y e a r ' s g o a l s a n d o b j e c t i v e s r e f l e c t
t h e c o n t i n u a t i o n o f t h e t r a n s i t i o n p l a n n i n g e f f o r t s r e l a t e d t o t h e c u r r e n t a n d n e w
M e a s u r e A a n d t h e d e l i v e r y o f p r o m i s e s m a d e t o t h e c i t i z e n s o f t h e C o u n t y o f
R i v e r s i d e .
U s i n g t h e C o m m i s s i o n ' s g u i d i n g p r i n c i p l e s , s t a f f h a s u p d a t e d t h e a t t a c h e d G o a l s
a n d O b j e c t i v e s f o r t h e F i s c a l Y e a r 2 0 0 6 / 0 7 B u d g e t .
A t t a c h m e n t s :
1 ) P r o p o s e d G o a l s a n d O b j e c t i v e s f o r F Y 2 0 0 6 / 0 7 B u d g e t
2 ) P r e s e n t a t i o n
5 2
"
C o m m i s s i o n P o l i c y G o a l s a n d O b j e c t i v e s
T h e f o l l o w i n g m a t e r i a l o u t l i n e s t h e C o m m i s s i o n ' s a d o p t e d p o l i c y g o a l s , o b j e c t i v e s a n d
f i n a n c i a l p o l i c i e s t h a t s e r v e a s t h e f r a m e w o r k f o r t h e w o r k p l a n p r e s e n t e d i n t h e F Y 2 0 0 6 / 0 7
B u d g e t .
M o b i l i t y I n i t i a t i v e s
T h e C o m m i s s i o n , i n c o o p e r a t i o n w i t h l o c a l , s t a t e , a n d f e d e r a l a g e n c i e s , w i l l s t r i v e t o c r e a t e
a t r a n s p o r t a t i o n s y s t e m t h a t p r o m o t e s e f f i c i e n t m o b i l i t y b o t h w i t h i n t h e C o u n t y a n d
r e g i o n a l l y . T h i s e f f o r t w i l l i n c r e a s e i n i t s i n t e n s i t y i n t h e u p c o m i n g f i s c a l y e a r w i t h t h e
c o m p l e t i o n i n e a r l y 2 0 0 6 o f a 1 0 - y e a r d e l i v e r y p l a n p r o g r a m a n d u p d a t e d M e a s u r e A
r e v e n u e p r o j e c t i o n s .
W i t h t h e n e w f e d e r a l t r a n s p o r t a t i o n a c t , S a f e , A c c o u n t a b l e , F l e x i b l e , E f f i c i e n t
T r a n s p o r t a t i o n E q u i t y A c t : A L e g a c y f o r U s e r s ( S A F E T E A - L U ) , i n p l a c e a n d t h e s t a t e
f u n d i n g p i c t u r e i m p r o v i n g w i t h t h e a d d i t i o n o f P r o p o s i t i o n 4 2 f u n d i n g , t h e C o m m i s s i o n f a c e s
a y e a r o f s e l e c t i v e s t r a t e g i c o p p o r t u n i t i e s a s w e l l a s c o n t i n u i n g c h a l l e n g e s .
" C o m p l e t e t h e p r i o r i t i z a t i o n o f M e a s u r e A h i g h w a y p r o j e c t s c o v e r i n g t h e t w o
e x p e n d i t u r e p l a n s f r o m 2 0 0 6 t h r o u g h 2 0 1 9 .
" M a x i m i z e t h e u s e o f i n n o v a t i v e f i n a n c i n g , i n c l u d i n g p u b l i c / p r i v a t e p a r t n e r s h i p s , t o
s u p p o r t t h e 2 0 0 9 M e a s u r e A 1 0 - y e a r d e l i v e r y p l a n .
" C o n t i n u e t o w o r k w i t h s t a t e a n d f e d e r a l a g e n c i e s t o p r o g r a m a n d c o n s t r u c t p r o j e c t s
i n t h e S T I P , t h e M e a s u r e A p r o g r a m , a n d o t h e r h i g h p r i o r i t y p r o j e c t s .
" M a x i m i z e t h e e f f e c t i v e a p p l i c a t i o n a n d u s e o f T U M F f u n d s t o d e l i v e r e l i g i b l e
C o m m i s s i o n p r i o r i t y p r o j e c t s .
" C o n t i n u e w o r k o n t h e p r o j e c t l e v e l e n v i r o n m e n t a l d o c u m e n t f o r t h e M i d C o u n t y
P a r k w a y , o n e o f t h e C E T A P c o r r i d o r s .
" I n i t i a t e t h e n e x t s t e p s o n t h e R i v e r s i d e C o u n t y - O r a n g e C o u n t y C E T A P c o r r i d o r a s
o u t l i n e d i n t h e M I S ' s L o c a l l y P r e f e r r e d S t r a t e g y .
" A c t i v e l y p a r t i c i p a t e i n t h e S R - 9 1 A d v i s o r y C o m m i t t e e t o f a c i l i t a t e n e a r a n d l o n g -
t e r m i m p r o v e m e n t s t o S R - 9 1 ; e n h a n c e i n t e r c o u n t y p u b l i c t r a n s i t o p t i o n s a n d f o s t e r
t h e d e v e l o p m e n t o f a n e w c o r r i d o r b e t w e e n t h e t w o c o u n t i e s .
" W o r k c l o s e l y w i t h l o c a l j u r i s d i c t i o n s t o i m p l e m e n t t h e F Y 2 0 0 6 - 2 0 0 9 T U M F R e g i o n a l
A r t e r i a l P r o g r a m a n d f a c i l i t a t e t h e d e l i v e r y o f a r t e r i a l i m p r o v e m e n t s i n W e s t e r n
C o u n t y .
" A d v o c a t e s t r e a m l i n i n g e f f o r t s a t t h e s t a t e a n d f e d e r a l l e v e l s t o f a c i l i t a t e t i m e l y
p r o j e c t r e v i e w s a n d a p p r o v a l s .
" C o o r d i n a t e a n d p r o v i d e p u b l i c a c c e s s t o c o m m u t e r i n f o r m a t i o n t o f o s t e r t h e u s e o f
a l t e r n a t e m o d e s o f t r a n s p o r t a t i o n s u c h a s r i d e m a t c h i n g f o r c a r / v a n p o o l i n g , t r a n s i t
t h r o u g h t h e p r o v i s i o n o f a r e g i o n a l t r i p p l a n n e r , a n d r e a l t i m e t r a f f i c i n f o r m a t i o n f o r
c o n g e s t i o n a v o i d a n c e .
" P l a y a n a c t i v e r o l e i n s h a p i n g s t a t e i n f r a s t r u c t u r e b o n d p r o p o s a l s t h a t w i l l l i k e l y b e
p l a c e d o n t h e N o v e m b e r 2 0 0 6 b a l l o t .
5 3
Goods Movement
•
The Commission will work with federal, state, and local governments to facilitate the
movement of goods and services to, within, and through the County, recognizing the vital
role mobility plays in the economic health of the County, the state, and the nation.
• Seek funding and implement the Commission's approved, high -priority railroad
grade separation priority list to mitigate the impact of increased goods movement
demands on the transportation system.
• Promote the use of rail corridors (including the Perris Valley Line within funding
constraints) as an alternative to trucks for the movement of freight within the
County and the region.
• Work with county transportation commissions, local jurisdictions, SCRRA (or
Metrolink), the Southern California Association of Governments (SCAG), and the
private railroad companies toward the implementation of a coordinated regional
approach to increase rail and highway capacity for goods movement that includes
environmental and community impact mitigation.
Improved System Efficiency
The Commission will select projects and allocate funds in a manner that will improve safety
and reduce congested traffic corridors.
• Advocate the development and use of advanced technologies for transportation
applications that are affordable and practical.
• Work with public and private interests to apply real time technology to disseminate
commuter information that will support the use of alternate modes and improve
efficiency of the regional transportation system.
• Assure the effectiveness of transit planning through the annual SRTP process with
a goal toward promoting program efficiency and effectiveness.
• Provide innovative commuter rideshare programs to reduce single occupant vehicle
trips and coordinate with other regional rideshare service providers to address
intercounty commute trips.
• Through the use of technology, make real time traffic information available to
commuters for the purpose of trip planning and congestion avoidance.
• Work with Caltrans and the California Highway Patrol (CHP) to continue providing a
motorist aid system which includes a call box program and an FSP program
including temporary services in freeway construction zones.
• Continue development, in partnership with Caltrans and SANBAG, of the Inland
Empire TMC.
Environmental Stewardship
The Commission will achieve its mobility goals while promoting environmental stewardship
and protecting the area's natural resources and quality of life.
54
i
• Continue working with the Regional Conservation Authority to implement the
MSHCP and provide funding to assist in the assembly of the reserve system.
• Work with SCAG, the South Coast Air Quality Management District (SCAQMD),
sub -regional agencies, and local jurisdictions to develop and implement an RTP
that meets regional air quality goals and conformity guidelines.
• Support outreach and educational programs that promote the benefits of
ridesharing and availability of help through www.CommuteSmart.info and 1-800-
COMMUTE.
• Facilitate private/public use of clean fuels technology.
Economic Development
Transportation decisions will consider the economic benefits derived from any
improvement, and, where feasible and practical, will pursue transportation alternatives that
enhance or complement economic development.
• Support local agencies in the design and construction of interchanges that are in
proximity to regional economic centers and developments.
• Support local projects, consistent with countywide transportation goals, which
enhance business development, local employment, and area tourism.
• Foster the development of transportation technology research, education, and
training efforts of public institutions within the County.
Intermodalism and Accessibility
County residents will be served, where economically feasible, through the development of
transportation alternatives that consider the needs of a wide range of citizens.
• Work with transit providers and local social service agencies to provide specialized
transit service to meet a broad spectrum of socio-economic transit needs.
• Integrate commuter assistance programs and marketing with transit in order to
foster the use of alternative commuting modes.
• Implement the Commission's commuter rail SRTP and the SCRRA long-range
strategic plan for expansion of the commuter rail system benefiting Riverside
County constituents with an emphasis on the Perris Valley Line, an extension from
Riverside to Perris via Moreno Valley.
• Participate in the study of high-speed rail options and support efforts for eventual
implementation of a statewide high-speed rail system with emphasis on the pilot
project being in Southern California and including the integration of existing rail
passenger services.
Public and Agency Communications
The Commission will provide timely, informative, and accurate information to encourage
informed public and agency participation in the Commission's decision -making processes.
55
"
" P r o m o t e a c l o s e w o r k i n g r e l a t i o n s h i p w i t h n e w s a n d c i v i c e n t i t i e s t o i n c r e a s e
i n t e r e s t i n a n d u n d e r s t a n d i n g o f t r a n s p o r t a t i o n a n d r e l a t e d i s s u e s .
" E n h a n c e t h e p r o v i s i o n o f p u b l i c i n f o r m a t i o n t h r o u g h v a r i o u s f o r m s o f
c o m m u n i c a t i o n ( e . g . , w e b s i t e , t e l e v i s i o n , S p e a k e r s B u r e a u , p r i n t m e d i a , r a d i o , e t c ) .
" M a i n t a i n a n o n g o i n g e f f o r t o f i n f o r m i n g R i v e r s i d e C o u n t y ' s C o n g r e s s i o n a l a n d S t a t e
L e g i s l a t i v e d e l e g a t i o n s r e g a r d i n g C o u n t y t r a n s p o r t a t i o n i s s u e s .
5 6
"
F i n a n c i a l a n d A d m i n i s t r a t i o n P o l i c i e s
O p e r a t i n g B u d g e t P o l i c i e s
" T h e C o m m i s s i o n s h a l l b u d g e t n o m o r e t h a n o n e p e r c e n t ( 1 % ) o f M e a s u r e A s a l e s
t a x r e v e n u e f o r a d m i n i s t r a t i v e s a l a r i e s a n d b e n e f i t s .
" A d m i n i s t r a t i v e p r o g r a m d e l i v e r y c o s t s w i l l b e b u d g e t e d a t w h a t e v e r i s r e a s o n a b l e
a n d n e c e s s a r y , b u t n o t t o e x c e e d f o u r p e r c e n t ( 4 % ) o f M e a s u r e A s a l e s t a x
r e v e n u e s ( i n c l u s i v e o f t h e o n e - p e r c e n t s a l a r y l i m i t a t i o n ) .
" A m o u n t s w i l l b e b u d g e t e d b y f i s c a l y e a r f o r m u l t i - y e a r p r o j e c t s b a s e d o n b e s t
a v a i l a b l e e s t i m a t e s w i t h t h e u n d e r s t a n d i n g t h a t , t o t h e e x t e n t a c t u a l s v a r y f r o m
t h o s e e s t i m a t e s a n d : t h e p r o j e c t i s o n g o i n g , a d j u s t m e n t s w i l l b e m a d e o n a n
o n g o i n g b a s i s .
" T h e f i s c a l c a p i t a l , b u d g e t s h o u l d b e c o n s i s t e n t w i t h t h e s t r a t e g i c p l a n a n d d e v i a t i o n s
a p p r o p r i a t e l y n o t e d , e x p l a i n e d , a n d j u s t i f i e d .
R e v e n u e P o l i c i e s
" S a l e s t a x r e v e n u e p r o j e c t i o n s w i l l b e r e v i s e d s e m i - a n n u a l l y t o e n s u r e u s e o f c u r r e n t
a n d r e l e v a n t d a t a . S t a f f m a y a d j u s t a n n u a l a m o u n t s t o r e f l e c t t h e m o s t c u r r e n t
e c o n o m i c t r e n d s .
" F e d e r a l a n d ' s t a t e m a t c h i n g f u n d s w i l l b e u s e d w h e r e p o s s i b l e a n d a v a i l a b l e t o
s u p p l e m e n t t h e u s e o f l o c a l f u n d i n g s o u r c e s .
" E x e r c i s e f i d u c i a r y r e s p o n s i b i l i t y r e g a r d i n g T U M F r e v e n u e s a n d a l l o c a t e r e v e n u e s
p u r s u a n t t o C o m m i s s i o n d i r e c t i o n a n d t h e a p p r o v e d 2 0 0 9 M e a s u r e A .
D e b t M a n a g e m e n t P o l i c i e s
" T h e C o m m i s s i o n w i l l m a i n t a i n 2 . 0 x d e b t r a t i o c o v e r a g e o n a l l s e n i o r d e b t .
" D e b t i s s u a n c e w i l l b e f o r m a j o r c a p i t a l p r o j e c t s i n c l u d i n g e n g i n e e r i n g , c o n s t r u c t i o n ,
a n d r i g h t o f w a y . O p e r a t i n g r e q u i r e m e n t s m u s t b e f r o m c u r r e n t o n g o i n g r e v e n u e s .
" C o s t s o f i s s u a n c e i n c l u d i n g t h e s t a n d a r d u n d e r w r i t e r ' s d i s c o u n t w i l l n o t e x c e e d t w o
p e r c e n t ( 2 % ) .
" W h i l e i t i s t h e i n t e n t o f t h e C o m m i s s i o n t o e s t a b l i s h a c a s h d e b t r e s e r v e f o r l o n g
t e r m b o n d i s s u a n c e , o b t a i n i n g s u r e t y b o n d s c a n b e o b t a i n e d w h e n b e n e f i c i a l t o t h e
C o m m i s s i o n .
" T h e c o m m e r c i a l p a p e r p r o g r a m w i l l p r o v i d e a d v a n c e f u n d i n g f o r p r o j e c t s i n c l u d e d
i n t h e e x p e n d i t u r e p l a n o f t h e a p p r o v e d 2 0 0 9 M e a s u r e A .
" T h e C o m m i s s i o n w i l l c o n s i d e r a c t i o n s t o l e s s e n t h e r e s t r i c t i o n o f t h e $ 5 0 0 m i l l i o n
2 0 0 9 M e a s u r e A b o n d i n g c a p , w h i c h c o u l d i n c l u d e t h e p o s s i b i l i t y o f a b a l l o t
m e a s u r e i n 2 0 0 8 t o i n c r e a s e t h e c a p .
5 7
Auditing, Accounting, and Financial Reporting Policies
• The Commission will issue a Comprehensive Annual Financial Report (CAFR) in
accordance with the GASB Statement 34 new financial reporting model.
• An audit is to be conducted annually on the Commission's accounting books and
records. As long as the Commission has outstanding bonds, an independent
accounting firm must conduct the audit.
• The Commission is 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.
• An internal audit risk assessment program will .be implemented to identify
improvements in controls and procedures as well as best practices.
Capital Planning and Programming Policies
• Established priorities will be reviewed annually via a series of workshops and/or
policy maker workshop.
Reserve Policies
• The Commission will maintain a cash reserve at least equal to five percent (5%) of
annual revenues (exclusive of reimbursements and matching funds).
• The Commission will establish and maintain a transit operator's reserve of ten
percent (10%) for the Coachella Valley and Palo Verde Valley. Additionally, a ten
percent (10%) reserve will be established and maintained for each of the Western
County transit operators (public bus and commuter rail).
Cash Management/Investment Policies
• Where possible, the Commission will encourage receipt of funds by wire transfer to
its accounts.
• Balances in the bank operating account will be maintained at the amount necessary
to meet monthly expenditures.
• Idle funds will be invested per the Commission's established investment policy
emphasizing in order of priority: 1) safety, 2) liquidity, and 3) yield.
• Cash disbursements to local jurisdictions and vendors/consultants will be
completed in an expeditious and timely manner.
Human Resources Management Policies
• Commission staffing levels will be consistent with the intent of its enabling
legislation, which envisioned a small, but effective staff.
• Consultants will be used to augment staff efforts as much as possible to support
programs or work loads, which do not appear to be of a permanent nature.
58
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I n f o r m a t i o n T e c h n o l o g y P o l i c i e s
" S i g n i f i c a n t e f f o r t w i l l b e m a d e t o m a i n t a i n e f f i c i e n t a n d c o s t - e f f e c t i v e t e c h n o l o g y
i n f r a s t r u c t u r e b y c o n t i n u o u s l y u p g r a d i n g n e t w o r k e q u i p m e n t a n d s o f t w a r e t o e n s u r e
p e r f o r m a n c e , p r o d u c t i v i t y , a n d c o n n e c t i v i t y a m o n g s t a f f , o t h e r a g e n c i e s , a n d t h e
p u b l i c . N e t w o r k s e c u r i t y w i l l c o n t i n u e t o b e a t o p p r i o r i t y t o m a i n t a i n t h e i n t e g r i t y o f
t h e C o m m i s s i o n ' s n e t w o r k a n d i n f o r m a t i o n .
5 9
AGENDA ITEM 1 1
e
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R I V E R S I D E C O U N T Y T R A N S P O R T A T I O N C O M M I S S I O N
D A T E :
F e b r u a r y 2 7 , 2 0 0 6
T O :
B u d g e t a n d I m p l e m e n t a t i o n C o m m i t t e e
F R O M :
T h e r e s i a T r e v i n o , C h i e f F i n a n c i a l O f f i c e r
T H R O U G H :
A n n e M a y e r , P r o g r a m m i n g a n d A d m i n i s t r a t i o n D i r e c t o r
S U B J E C T :
T r a n s p o r t a t i o n U n i f o r m M i t i g a t i o n F e e ( T U M F ) F i n a n c i n g t h r o u g h
S t a t e w i d e C o m m u n i t y I n f r a s t r u c t u r e P r o g r a m
S T A F F R E C O M M E N D A T I O N :
T h i s i t e m i s f o r t h e C o m m i t t e e t o :
1 ) A p p r o v e i n - c o n c e p t t h e C o m m i s s i o n ' s p a r t i c i p a t i o n i n t h e S t a t e w i d e ;
C o m m u n i t y I n f r a s t r u c t u r e P r o g r a m ( S C I P ) ; a n d
2 ) F o r w a r d t o t h e C o m m i s s i o n f o r f i n a l a c t i o n .
B A C K G R O U N D I N F O R M A T I O N :
A t t h e C o m m i s s i o n ' s J u n e 2 0 0 5 r e t r e a t , s t a f f m a d e a p r e s e n t a t i o n r e g a r d i n g T U M F
f e e f i n a n c i n g , a s s e v e r a l d e v e l o p e r s h a v e e x p r e s s e d a n i n t e r e s t i n t a x - e x e m p t
f i n a n c i n g o f W e s t e r n C o u n t y T U M F f e e s . T h e p r o p o s e d T U M F f e e f i n a n c i n g p l a n
c o n s i s t e d o f t h e i s s u a n c e o f d e b t b y R i v e r s i d e C o u n t y ( C o u n t y ) ; t h e t r a n s f e r o f
d e b t p r o c e e d s t o t h e C o m m i s s i o n a n d t h e W e s t e r n R i v e r s i d e C o u n c i l o f
G o v e r n m e n t s ( W R C O G ) ; a n d t h e a d m i n i s t r a t i o n , m a n a g e m e n t , a n d e x p e n d i t u r e o f
d e b t p r o c e e d s b y t h e C o m m i s s i o n a n d W R C O G . A s a r e s u l t o f v a r i o u s i s s u e s a n d
c o n c e r n s d i s c u s s e d d u r i n g t h e p r e s e n t a t i o n , t h e r e w a s a l a c k o f s u p p o r t f o r t h i s
T U M F f e e f i n a n c i n g p r o p o s a l . T h e C o m m i s s i o n ' s r e s p o n s e w a s r e p o r t e d a t a
w o r k i n g g r o u p m e e t i n g o f C o m m i s s i o n s t a f f , W R C O G s t a f f , C o u n t y s t a f f ,
d e v e l o p e r s a n d c o n s u l t a n t s i n J u n e 2 0 0 5 .
A t s u b s e q u e n t m e e t i n g s o f t h e w o r k i n g g r o u p i n N o v e m b e r 2 0 0 5 a n d D e c e m b e r
2 0 0 5 , C o u n t y s t a f f a n d i t s c o n s u l t a n t s p r e s e n t e d a n e w p r o p o s a l w h e r e b y t h e
C o u n t y w o u l d a p p l y f o r p a r t i c i p a t i o n i n t h e C a l i f o r n i a S t a t e w i d e C o m m u n i t i e s
D e v e l o p m e n t A u t h o r i t y ' s S C I P f o r d e v e l o p m e n t i m p a c t f e e f i n a n c i n g i n
u n i n c o r p o r a t e d C o u n t y a r e a s u t i l i z i n g 1 9 1 3 / 1 9 1 5 A c t s p e c i a l a s s e s s m e n t
o b l i g a t i o n s . T U M F f e e s w o u l d b e f i n a n c e d t h r o u g h S C I P , t h e i s s u e r o f t h e d e b t ,
u n d e r a r e i m b u r s e m e n t p r o g r a m o r p r e f u n d i n g p r o g r a m . B a s e d o n a b u i l d i n g p e r m i t
s u r v e y o f 2 1 d e v e l o p e r s i n t e r e s t e d i n p a r t i c i p a t i n g i n t h e S C I P p r o g r a m , i t a p p e a r s
t h a t S C I P r e v e n u e s a v a i l a b l e t o t h e C o m m i s s i o n f o r W e s t e r n C o u n t y r e g i o n a l
a r t e r i a l e x p e n d i t u r e s c o u l d a p p r o x i m a t e $ 5 6 m i l l i o n o v e r a t h r e e y e a r p e r i o d . T h e
6 0
County's formal request for the Commission's participation in the SCIP program is
included as an attachment.
The issuance and administration of debt would be the responsibility of SCIP. As
eligible infrastructure expenditures are incurred, the Commission would submit to
SCIP a requisition for disbursement. The Commission would have no administrative
responsibilities other than submitting such requisitions to pay expenditures.
Accordingly, no additional costs for the Commission are associated with the SCIP.
In order to participate in the SCIP program, the County would need to adopt a
resolution to join the SCIP, and the Commission and WRCQG would need to enter
into a fee collection and disbursement agreement. The proposed agreement, which
is subject to legal counsel review by all parties, as welt a§ a process flowchart
regarding the County's proposed SCIP are included as attachments to the County's
letter.
Staff is requesting that the Committee approve in -concept the Commission's
participation in the SCIP as it relates to the financing of TUMF fees in the
unincorporated areas of Western County.
Attachment: County Request for RCTC's Participation in SCIP
61
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E x e c u t i v e O f f i c e
C o u n t y o f R i v e r s i d e
E r i c H a l e y
E x e c u t i v e D i r e c t o r
R i v e r s i d e C o u n t y T r a n s p o r t a t i o n C o m m i s s i o n
4 0 8 0 L e m o n S t r e e t , 3 ` d F l o o r
R i v e r s i d e , C A 9 2 5 0 1
D e a r E r i c ,
L a r r y P a r r i s h
C o u n t y E x e c u t i v e O f f i c e r
F e b r u a r y 1 6 , 2 0 0 6
A s y o u a r e a w a r e , R i v e r s i d e C o u n t y i s e x p e r i e n c i n g u n p r e c e d e n t e d p o p u l a t i o n g r o w t h .
W i t h t h a t g r o w t h c o m e s t h e n e e d t o p r o v i d e n e c e s s a r y i n f r a s t r u c t u r e i n a t i m e l y m a n n e r ,
p a r t i c u l a r l y i n t h e a r e a o f t r a n s p o r t a t i o n . T h e C o u n t y i s a d d r e s s i n g t h i s g r o w t h t h r o u g h
f o r m i n g c o m m u n i t y f a c i l i t i e s d i s t r i c t s a n d d e v e l o p i n g a n a r e a p l a n i m p l e m e n t a t i o n
p r o g r a m t h a t w i l l a d d r e s s g r o w t h o n a c o m m u n i t y - w i d e b a s i s . A t h i r d o p t i o n t h e C o u n t y
i s c o n s i d e r i n g , i s t o a l l o w d e v e l o p e r s , w h o s e d e v e l o p m e n t i s n o t e l i g i b l e f o r a C F D , o r
n o t i n a n a r e a p l a n i m p l e m e n t a t i o n p r o g r a m , t o p a r t i c i p a t e i n t h e S t a t e w i d e C o m m u n i t y
I n f r a s t r u c t u r e P r o g r a m ( " S C I P " ) t o f i n a n c e o f t h e i r T U M F o b l i g a t i o n s . T h i s p r o g r a m
w o u l d o n l y b e o f f e r e d t o d e v e l o p m e n t s i n t h e u n i n c o r p o r a t e d a r e a s o f t h e c o u n t y .
B e c a u s e t h e T U M F i s c o l l e c t e d b y t h e C o u n t y o n b e h a l f o f R C T C a n d W R C O G , i t i s
n e c e s s a r y f o r b o t h a g e n c i e s t o f o r m a l l y a c k n o w l e d g e t h e i r p a r t i c i p a t i o n i n t h e p r o g r a m .
A s s u c h , t h e C o u n t y i s f o r m a l l y r e q u e s t i n g R C T C ' s c o n s i d e r a t i o n t o p a r t i c i p a t e i n t h e
S C I P p r o g r a m . F o r y o u r r e v i e w , I h a v e a t t a c h e d s a m p l e d o c u m e n t s t h a t m u s t b e
a p p r o v e d b y t h e C o u n t y , R C T C a n d W R C O G , a n d a f l o w c h a r t o n h o w t h e p r o g r a m
w o u l d w o r k . A n a c t i o n b y y o u r B o a r d t o a p p r o v e t h e p r o g r a m i n - c o n c e p t w o u l d b e
s u f f i c i e n t f o r t h e C o u n t y t o f o r m a l l y a p p r o v e t h e p r o g r a m , f o l l o w e d b y y o u r B o a r d
f o r m a l l y a p p r o v i n g p a r t i c i p a t i o n i n t h e p r o g r a m .
T h a n k y o u i n a d v a n c e f o r y o u r w i l l i n g n e s s t o p a r t i c i p a t e . T h e S C I P i n f o r m a t i o n a l
m a t e r i a l , p r o v i d e d t o y o u a t p r e v i o u s m e e t i n g s , s h o u l d h a v e a d e q u a t e l y e x p l a i n e d t h e
S C I P p r o g r a m . I f n o t , p l e a s e f e e l f r e e t o c o n t a c t m y s e l f a t 9 5 5 - 1 1 2 7 , o r A d a m B a u e r
w i t h F i e l d m a n , R o l a p p a n d A s s o c i a t e s , o u r f i n a n c i a l a d v i s o r , a t ( 9 4 9 ) 6 6 0 - 8 5 0 0 .
S i n c e r e l y ,
D e a n D e i n e s
D e p u t y C o u n t y E x e c u t i v e O f f i c e r
R i v e r s i d e C o u n t y E x e c u t i v e O f f i c e
R o b e r t T . A n d e r s e n A d m i n i s t r a t i v e C e n t e r
4 0 8 0 L e m o n S t r e e t " 4 t h F l o o r " R i v e r s i d e , C a l i f o r n i a 9 2 5 0 1 " ( 9 5 1 ) 9 5 5 - 1 1 0 0 " F a x ( 9 5 1 ) 9 5 5 - 1 1 0 5
6 2
attachments
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cc: Supervisor John Tavaglione, 2'1 District
Supervisor Marion Ashley, 5th District
John Field, 2'1 District
Darcy Kuenzi, 5th District.
Rick Bishop, WRCOG
Ruthanne Taylor -Berger, WRCOG
Hideo Sugita, RCTC
Theresia Trevino, RCTC
Robert T. Andersen Administrative Center
4080 Lemon Street • 411' Floor • Riverside, California 92501 • (951) 955-1100 • Fax (951) 955-1105
63
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R i v e r s i d e C o u n t y
S t a t e w i d e C o m m u n i t y I n f r a s t r u c t u r e P r o g r a m
I n i t i a l P r o c e d u r e s T o
P a r t i c i p a t e I n S C I P :
S C I P A t t o r n e y s P r e p a r e
F e e a n d C o l l e c t i o n
A g r e e m e n t s a n d R e s o l u t i o n
1
R C T C I n - c o n c e p t
A p p r o v e s F e e a n d
C o l l e c t i o n A g r e e m e n t
C o u n t y E x e c u t i v e O f f i c e P r e p a r e S C I P
I A p p r o v a l S t a n d a r d s a n d M a n u a l a n d j
j R e s o l u t i o n s R e q u i r e d f o r B o a r d A p p r o v a l
W R C O G I n - c o n c e p t
A p p r o v e s F e e a n d
C o l l e c t i o n A g r e e m e n t
R i v e r s i d e C o u n t y B o a r d o f S u p e r v i s o r s
A p p r o v e s R e s o l u t i o n t o P a r t i c i p a t e i n S C I P
R C T C A p p r o v e s F e e
a n d C o l l e c t i o n
A g r e e m e n t
P r o c e d u r e s R e q u i r e d
A f t e r B o a r d A p p r o v a l :
l :
W R C O G A p p r o v e s
F e e a n d C o l l e c t i o n
A g r e e m e n t
D e v e l o p e r S u b m i t s
A p p l i c a t i o n
C o u n t y E x e c u t i v e O f f i c e R e v i e w s
A p p l i c a t i o n f o r C o m p l e t e n e s s
a n d M i n i m u m S t a n d a r d s
,
1
R C T C C o n c u r s w i t h
D e v e l o p e r A p p l i c a t i o n a n d
v e r i f i e s t h a t i t c a n s p e n d
f u n d s w i t h i n 3 Y e a r s
A c t i o n s R e q u i r e d K e y
I I C o u n t y o f
R i v e r s i d e
� S C I P
�% R C T C / W R C O G
I 1 R i v e r s i d e C o u n t y
E x e c u t i v e O f f i c e
� D e v e l o p e r W h o
W i s h e s T o P a r t i c i p a t e
l
W R C O G C o n c u r s w i t h
D e v e l o p e r A p p l i c a t i o n a n d
v e r i f i e s t h a t i t c a n s p e n d f u n d s
w i t h i n 3 Y e a r s
C o u n t y E x e c u t i v e O f f i c e A c c e p t e d
A p p l i c a t i o n i s S e n t t o S C I P
S C I P P r o c e s s e s , F o r m s
D i s t r i c t a n d I s s u e s B o n d s
i
��" F i e l d t n a n , R o l a p p
I l & A s s o c i a t e s
N O E P E N O F N I M A N C N L A N D I N V E S T M E N T A D V I S O R S
6 4
� 2 0 0 6
FEE COLLECTION AND DISBURSEMENT AGREEMENT
This FEE COLLECTION AND DISBURSEMENT AGREEMENT (this
"Agreement"), dated as of February 1, 2006, by and among the RIVERSIDE COUNTY
TRANSPORTATION COMMISSION ("Fee Recipient"), a California ,
RIVERSIDE COUNTY, a political subdivision of the State of California ("County") and the
CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY ("CSCDA");
WITNESSETH:
WHEREAS, the Fee Recipient is entitled to receive from time to time certain
amounts paid by developers of real property (each a "Developer") within the jurisdiction of
County as impact fees, connection fees or other capital charges;
WHEREAS, the County is a participant in CSCDA's Statewide Community
Infrastructure Program ("SCIP");
WHEREAS, as a participant in SCIP, the County has established an account with
CSCDA held by Wells Fargo Bank, National Association, as trustee (the "SCIP Trustee") and
administered by Bond Logistix LLC (the "SCIP Program Administrator") in which certain
amounts collected on behalf of the County in connection with SCIP are held (the "County SCIP
Account");
WHEREAS, certain fees or capital charges collected by Fee Recipient are eligible
for financing through SCIP, subject to approval by Bond Counsel (the "Fees");
WHEREAS, the Fees may be paid to Fee Recipient by Developers, for subsequent
reimbursement from the proceeds of bonds (the `Bonds") issued through SCIP, or the Fees may
be paid directly to Fee Recipient from proceeds of the Bonds;
WHEREAS, in order to allow the Fees to be financed through SCIP, Fee
Recipient has requested that for any parcel which applies for SCIP financing, County collect the
Fees and remit them to CSCDA for deposit in a separate subaccount within the County'SCIP
Account;
WHEREAS, in accordance with Fee Recipient's request, and in order to allow the
Fees to be financed through SCIP, the County has determined to collect the Fees on Fee
Recipient's behalf and to remit the Fees to CSCDA to be held in a separate subaccount within
the County SCIP Account, and to make or cause to be made disbursements from such subaccount
in accordance with properly executed requisitions of the Fee Recipient in the form attached as
Exhibit B hereto;
FOLLOWS:
DOCSSF1:799240.2
40929-317J78
NOW, THEREFORE, THE PARTIES HERETO MUTUALLY AGREE AS
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65
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"
"
S e c t i o n 1 . D e f i n i t i o n s . A s u s e d h e r e i n , t h e f o l l o w i n g c a p i t a l i z e d t e r m s s h a l l h a v e
t h e m e a n i n g s a s c r i b e d t o t h e m b e l o w :
" A u t h o r i z e d O f f i c e r " m e a n s ( a ) w h e n u s e d w i t h r e s p e c t t o C S C D A , a n y m e m b e r
o f t h e g o v e r n i n g b o a r d o f C S C D A a n d s u c h a d d i t i o n a l p e r s o n o r p e r s o n s , i f a n y , d u l y d e s i g n a t e d
b y C S C D A i n w r i t i n g t o a c t o n i t s b e h a l f , a n d ( b ) w h e n u s e d w i t h r e s p e c t t o F e e R e c i p i e n t , a n y
p e r s o n o r p e r s o n s d u l y d e s i g n a t e d b y F e e R e c i p i e n t i n w r i t i n g t o a c t o n i t s b e h a l f , .
" B o n d C o u n s e l " m e a n s O r r i c k , H e r r i n g t o n & S u t c l i f f e L L P , o r a n y o t h e r
n a t i o n a l l y r e c o g n i z e d f i r m a p p o i n t e d b y C S C D A t o s e r v e a s b o n d c o u n s e l i n c o n n e c t i o n w i t h t h e
i s s u a n c e o f B o n d s .
" B o n d s " m e a n s b o n d s i s s u e d b y C S C D A t o f i n a n c e d e v e l o p m e n t i m p a c t f e e s ,
i n c l u d i n g t h e F e e s , i n c o n n e c t i o n w i t h S C I P .
" C a p i t a l I m p r o v e m e n t s " h a s t h e m e a n i n g g i v e n t o t h a t t e r m i n S e c t i o n 4 .
" C o u n t y " m e a n s t h e C o u n t y o f R i v e r s i d e , C a l i f o r n i a .
" C o u n t y S C I P A c c o u n t " m e a n s t h e C o u n t y ' s a c c o u n t w i t h C S C D A h e l d b y t h e
S L I P T r u s t e e a n d a d m i n i s t e r e d b y t h e S C I P P r o g r a m A d m i n i s t r a t o r i n w h i c h c e r t a i n a m o u n t s
c o l l e c t e d o n b e h a l f o f t h e C o u n t y i n c o n n e c t i o n w i t h S C I P a r e h e l d .
" C S C D A " m e a n s t h e C a l i f o r n i a S t a t e w i d e C o m m u n i t i e s D e v e l o p m e n t A u t h o r i t y ,
i t s s u c c e s s o r s a n d a s s i g n s .
C a l i f o r n i a
" F e e R e c i p i e n t " m e a n s t h e R i v e r s i d e C o u n t y T r a n s p o r t a t i o n C o m m i s s i o n , a
" F e e s " m e a n s t h o s e c e r t a i n d e v e l o p m e n t i m p a c t f e e s t o b e f i n a n c e d t h r o u g h S C I P ,
a p p r o v e d b y B o n d C o u n s e l a n d p a y a b l e f r o m t i m e t o t i m e t o F e e R e c i p i e n t .
" S C I P " m e a n s t h e S t a t e w i d e C o m m u n i t y I n f r a s t r u c t u r e P r o g r a m , a p r o g r a m o f
C S C D A .
" S C I P F u n d s " m e a n s p a y m e n t s o f F e e s r e c e i v e d b y F e e R e c i p i e n t , a s m o r e f u l l y
d e s c r i b e d i n S e c t i o n 3 , t o g e t h e r w i t h a l l o f t h e i n v e s t m e n t e a r n i n g s o n s u c h F e e s .
" S C I P P r o g r a m A d m i n i s t r a t o r " m e a n s B o n d L o g i s t i x L L C , i t s s u c c e s s o r s a n d
a s s i g n s o r a n y o t h e r a d m i n i s t r a t o r a p p o i n t e d b y C S C D A a s t h e a d m i n i s t r a t o r o f S C I P .
a s s i g n s .
" S C I P T r u s t e e " m e a n s W e l l F a r g o B a n k , N a t i o n a l A s s o c i a t i o n , i t s s u c c e s s o r s a n d
S e c t i o n 2 . C o l l e c t i o n o f F e e s ; S L I P F i n a n c i n g .
( a ) F e e R e c i p i e n t a c k n o w l e d g e s t h a t i t h a s t h e a u t h o r i t y t o c o l l e c t a n d u s e t h e
F e e s f o r i t s o w n b e n e f i t . F e e R e c i p i e n t a c k n o w l e d g e s t h a t , s u b j e c t t o a p p r o v a l a s s e t f o r t h i n
D O C S S 1 4 1 : 7 9 9 2 4 0 . 2
4 0 9 2 9 - 3 1 7 ) 7 8 2
6 6
Section 3, the Fees may be financed through SCIP, and agrees to allow the County to collect the
Fees from time to time with respect to properties applying for SCIP financing on the Fee
Recipient's behalf (i) from Developers prior to the issuance of a particular series of Bonds, or (ii)
from proceeds of a particular series of Bonds following the issuance of such Bonds.
(b) For any property applying for SCIP financing of the Fees, the County
agrees to collect the Fees from time to time for the Fee Recipient's benefit. Upon collection, the
County shall remit the Fees to CSCDA, to be deposited as set forth in Section 4.
Section 3. Approval of Fees. The Authorized Officers of Fee Recipient, or their
designees, are authorized under this Agreement to approve the financing of Fees. No Fee may be
financed through SCIP except with the written approval of an Authorized Officer of Fee
Recipient or his designee, which approval shall be evidenced by the signature of such Authorized
Officer next to each such Fee shown on Exhibit A attached hereto.
Section 4. Agreement to Hold Fees in SCIP Account. CSCDA agrees to receive
or cause to be received by the SCIP Trustee the Fees collected by the County on behalf of the
Fee Recipient. CSCDA shall establish or cause to be established within the County SCIP
Account a separate subaccount (the "Riverside County Transportation Commission
Subaccount"). The Fees shall be deposited in the Riverside County. Transportation Commission
Subaccount and held there by the SCIP Trustee and segregated from all other funds within the
County SCIP Account, and except for investment purposes, shall not be commingled with any
other funds held by the SCIP Trustee. Investment earnings on the Riverside County
Transportation Commission Subaccount shall be retained in the such subaccount for the benefit
of the Fee Recipient except to the extent a portion of such earnings are requested to pay rebate or
yield reduction payments to the U.S. Treasury pursuant to the Internal Revenue Code. Amounts
on deposit in the Riverside County Transportation Commission Subaccount shall be disbursed
only in accordance with Section 5 of this Agreement.
Section 5. Disbursements from SCIP Account. CSCDA shall disburse or cause
to be disbursed moneys on deposit in the Riverside County Transportation Commission
Subaccount only as provided herein. Moneys on deposit in the Riverside County Transportation
Commission Subaccount shall be disbursed pursuant to written requisitions of the Fee Recipient,
in substantially the foram attached hereto as Exhibit B and executed by an Authorized Officer of
the Fee Recipient. CSCDA, the SCIP Program Administrator and the SCIP Trustee may
conclusively rely on such requisitions for purposes of making such disbursements.
All disbursements from the Riverside County Transportation Commission
Subaccount to the Fee Recipient shall be made by [wire transfer of immediately available
fimds/check payable] to the Fee Recipient's bank account number at a bank located within the
United States on file with the SCIP Trustee, unless another method of payment is requested in
writing by the Fee Recipient.
Section 6. Notice of Proposed SCIP Financings. CSCDA agrees that it will cause
Fee Recipient to be provided with the following notices at the following times:
DOCSSFE799240.2
40929-317.178 3
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67
411
(a) promptly upon receipt of an application for SCIP financing of any Fees
payable to Fee Recipient, a description of the affected property and the Fees to be financed; and
(b) upon request, an inventory of all Fees payable to Fee Recipient and all
properties for which such Fees are payable.
Section 7. Tenn of this Agreement. This Agreement shall be in full force and
effect from this date to and including its termination by mutual written agreement of the parties
hereto. The Authority agrees to terminate this agreement upon request of Fee Recipient upon
delivery to CSCDA of an opinion Bond Counsel to the effect that the termination of this
Agreement will not adversely affect the exclusion from gross income of interest on the Bonds for
federal income tax purposes.
Section 8. Amendment of this Agreement. This Agreement may be amended
only by a written instrument executed by the parties hereto; provided that any such amendment
shall be conditioned upon delivery to CSCDA of an opinion of Bond Counsel to the effect that
such amendment will not adversely affect the exclusion from gross income of interest on the
Bonds for federal income tax purposes.
Section 9. Successors in Interest. This Agreement and all of the provisions
hereof shall be binding on the parties hereto and their successors and assigns.
Section 1O.Third Party Beneficiaries. The SCIP Program Administrator is
expressly declared to be a third party beneficiary of this Agreement.
Section 11.Severability. If any section, paragraph, sentence, clause or provision
of this Agreement shall for any reason be held to be invalid or unenforceable, the invalidity or
unenforceability of such section, paragraph, sentence, clause or provision shall not affect any of
the remaining provisions of this Agreement.
Section 12.Choice of Law. This Agreement shall be governed by and interpreted
in accordance with the laws of the State of California.
Section 13.Execution. This Agreement may be executed in any number of
counterparts, each of which shall be deemed to be an original, but all together shall constitute but
one and the same agreement.
Section 14.Notices. Any notice, request, complaint, demand, communication or
other paper required or permitted to be delivered to this Agreement shall be addressed to the
appropriate party at the addresses set forth below.
Fee Recipient:
Attention:
DOCSSF1:799240.2
40929-317 )78 4
68
County:
CSCDA:
Attention:
California Statewide Communities Development Authority
1100 K Street, Suite 101
Sacramento, CA 95814
Attention: Treasurer
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DOCSSP1:799240.2
40929-317378 5
69
"
"
I N W I T N E S S W H E R E O F , t h e R I V E R S I D E C O U N T Y T R A N S P O R T A T I O N
C O M M I S S I O N , R I V E R S I D E C O U N T Y a n d T H E C A L I F O R N I A S T A T E W I D E
C O M M U N I T I E S D E V E L O P M E N T A U T H O R I T Y h a v e c a u s e d t h i s A g r e e m e n t t o b e e x e c u t e d
e a c h o n i t s b e h a l f b y a n a u t h o r i z e d r e p r e s e n t a t i v e a s o f t h e d a y a n d y e a r f i r s t a b o v e w r i t t e n .
R I V E R S I D E C O U N T Y T R A N S P O R T A T I O N
C O M M I S S I O N
A u t h o r i z e d O f f i c e r
R I V E R S I D E C O U N T Y
A u t h o r i z e d O f f i c e r
C A L I F O R N I A S T A T E W I D E C O M M U N I T I E S
D E V E L O P M E N T A U T H O R I T Y C O M M U N I T Y
D O C S S F 1 : 7 9 9 2 4 0 . 2
4 0 9 2 9 - 3 1 7 J 7 8 6
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E X H I B I T B
S C I P D i s b u r s e m e n t F o r m
T o : B o n d L o g i s t i x L L C
7 7 7 S . F i g u e r o a S t . , S u i t e 3 2 0 0
L o s A n g e l e s , C a l i f o r n i a 9 0 0 1 7
A t t e n t i o n : D a n i e l C h a n g
F a x : 2 1 3 - 6 1 2 - 2 4 9 9
P h o n e : 2 1 3 - 6 1 2 - 2 2 0 5
R e : S t a t e w i d e C o m m u n i t y I n f r a s t r u c t u r e P r o g r a m
T h e u n d e r s i g n e d , a d u l y a u t h o r i z e d o f f i c e r o f R i v e r s i d e C o u n t y T r a n s p o r t a t i o n C o m m i s s i o n
h e r e b y r e q u e s t s a w i t h d r a w a l f r o m t h e R i v e r s i d e C o u n t y T r a n s p o r t a t i o n C o m m i s s i o n S u b a c c o u n t , a s f o l l o w s :
R e q u e s t D a t e :
F e e S u b - a c c o u n t t o b e d r a w n f r o m :
W i t h d r a w a l A m o u n t :
T h e u n d e r s i g n e d h e r e b y c e r t i f i e s a s f o l l o w s :
1 . T h e W i t h d r a w a l i s b e i n g m a d e i n a c c o r d a n c e w i t h a p e r m i t t e d u s e o f s u c h m o n i e s
p u r s u a n t t o t h e S C I P p r o g r a m d o c u m e n t s , a n d t h e W i t h d r a w a l i s n o t b e i n g m a d e f o r t h e p u r p o s e o f r e i n v e s t m e n t .
2 . N o n e o f t h e i t e m s f o r w h i c h p a y m e n t i s r e q u e s t e d h a v e b e e n r e i m b u r s e d p r e v i o u s l y f r o m
o t h e r s o u r c e s o f f u n d s .
3 . I f t h e W i t h d r a w a l A m o u n t i s g r e a t e r t h a n t h e f u n d s h e l d i n S O F o n b e h a l f o f t h e
R i v e r s i d e C o u n t y T r a n s p o r t a t i o n C o m m i s s i o n , t h e P r o g r a m A d m i n i s t r a t o r i s a u t h o r i z e d t o a m e n d t h e a m o u n t
r e q u e s t e d t o b e e q u a l t o t h e a m o u n t o f s u c h f u n d s .
4 _ T o t h e e x t e n t t h e W i t h d r a w a l i s b e i n g m a d e p r i o r t o t h e d a t e b o n d s h a v e b e e n i s s u e d o n
b e h a l f o f S C I P , t h i s w i t h d r a w a l f o r m s e r v e s a s t h e d e c l a r a t i o n o f o f f i c i a l i n t e n t o f t h e R i v e r s i d e C o u n t y
T r a n s p o r t a t i o n C o m m i s s i o n , p u r s u a n t t o T r e a s u r y R e g u l a t i o n s 1 . 1 5 0 - 2 , t o r e i m b u r s e w i t h r e s p e c t e x p e n d i t u r e s m a d e
f r o m t h e F e e S u b - a c c o u n t l i s t e d a b o v e i n t h e a m o u n t l i s t e d a b o v e .
U n l e s s a m e n d e d b y p r i o r w r i t t e n n o t i c e t o t h e P r o g r a m A d m i n i s t r a t o r , t h e W i t h d r a w a l A m o u n t
s h a l l b e f o r w a r d e d t o t h e f i n a n c i a l i n s t i t u t i o n a n d a c c o u n t p r o v i d e d t o t h e P r o g r a m A d m i n i s t r a t o r a s p a r t o f t h e
C o u n t y ' s S C I P e n r o l l m e n t m a t e r i a l s .
D a t e d : [ D A T E ]
R I V E R S I D E C O U N T Y T R A N S P O R T A T I O N C O M M I S S I O N
B y :
T i t l e :
D O C S S F 1 : 6 6 9 2 4 6 . 2
4 0 9 2 9 - 3 1 7 J 7 8
B - 1
7 2
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A G E N D A I T E M 1 2
"
R I V E R S / D E C O U N T Y T R A N S P O R T A T I O N C O M M / S S / O N
D A T E :
F e b r u a r y 2 7 , 2 0 0 6
T O :
B u d g e t a n d I m p l e m e n t a t i o n C o m m i t t e e
F R O M :
S h i r l e y M e d i n a , P r o g r a m M a n a g e r
T H R O U G H :
A n n e M a y e r , P r o g r a m m i n g a n d A d m i n i s t r a t i o n D i r e c t o r
S U B J E C T :
T r a n s p o r t a t i o n U n i f o r m M i t i g a t i o n F e e ( T U M F ) P r o g r a m m i n g
A d m i n i s t r a t i v e P o l i c y
S T A F F R E C O M M E N D A T I O N :
T h i s i t e m i s f o r t h e C o m m i t t e e t o :
1 ) A p p r o v e t h e T U M F P r o g r a m m i n g A d m i n i s t r a t i v e P o l i c y ; a n d
2 ) F o r w a r d t o t h e C o m m i s s i o n f o r f i n a l a c t i o n .
B A C K G R O U N D I N F O R M A T I O N :
A t t h e S e p t e m b e r 8 , 2 0 0 4 C o m m i s s i o n m e e t i n g , t h e C o m m i s s i o n a p p r o v e d a f i v e -
y e a r T r a n s p o r t a t i o n U n i f o r m M i t i g a t i o n F e e ( T U M F ) R e g i o n a l A r t e r i a l p r o g r a m t h a t
c o v e r s F Y 2 0 0 5 t o F Y 2 0 0 9 . A t o t a l o f $ 7 1 . 3 m i l l i o n w a s a l l o c a t e d t o 2 3 p r o j e c t s
f o r v a r i o u s p r o j e c t p h a s e s . I n a d d i t i o n t o t h e a b o v e , t h e C o m m i s s i o n d i r e c t e d s t a f f
t o a d m i n i s t r a t i v e l y a m e n d t h e p r o j e c t s t a t u s , c o s t a n d r e v e n u e f i g u r e s b a s e d o n
a c t i o n s t a k e n b y W e s t e r n R i v e r s i d e C o u n c i l o f G o v e r n m e n t s ( W R C O G ) i n a m e n d i n g '
t h e T U M F 1 0 - Y e a r S t r a t e g i c P l a n a n d N e x u s S t u d y .
A s w i t h o t h e r f u n d i n g p r o g r a m s , s t a f f h a s i d e n t i f i e d a d d i t i o n a l a d m i n i s t r a t i v e
a c t i o n s a n d i s s e e k i n g a p p r o v a l t o i m p l e m e n t a n a d m i n i s t r a t i v e p o l i c y t o c o v e r s u c h
a c t i o n s t h a t m a y n o t r e q u i r e C o m m i s s i o n a p p r o v a l . T h e s e a c t i o n s i n c l u d e : 1 ) t h e
r e p r o g r a m m i n g o f f u n d s ; a n d 2 ) c o s t i n c r e a s e s u p t o 1 0 % f o r t h e c o n s t r u c t i o n
p h a s e o n l y ( t h e C o m m i s s i o n ' s S e p t e m b e r 2 0 0 4 a p p r o v a l d i d n o t i n c l u d e
c o n t i n g e n c y ) . T h e p r o p o s e d p o l i c y w i l l a l l o w s t a f f t h e f l e x i b i l i t y t o w o r k w i t h t h e
c i t i e s a n d i n a s s i s t i n g w i t h p r o j e c t d e l i v e r y .
T U M F P r o g r a m m i n g A d m i n i s t r a t i v e P o l i c y
P e r t h e T U M F P r o j e c t I m p l e m e n t a t i o n A d m i n i s t r a t i v e P o l i c y , R C T C s t a f f m a y
a p p r o v e p r o j e c t a m e n d m e n t s w i t h i n t h e f o l l o w i n g p a r a m e t e r s :
7 3
1) Updates to the approved project status, cost and ;revenue figures pursuant to
any actions or amendments taken by WRCOG regarding updates to the
TUMF 10-year Strategic Plan and Nexus Study.
2) Reprogramming of funds, not to exceed the allocated amount, including:
a. Programming funds from one phase to another
b. Advancing funds from one phase to another
c. Delaying funds from one phase to another
3) Allowance of an additional 10% increase for the construction phase if
requested.
Staff anticipates reprogramming requests in the near -term and the proposed policy
would result in timely processing and implementation of TUMF projects.
Programming requests outside of the above parameters will be brought forward to
the Commission for approval.
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A G E N D A I T E M 1 3
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R I V E R S / D E C O U N T Y T R A N S P O R T A T I O N C O M M I S S I O N
D A T E :
F e b r u a r y 2 7 , 2 0 0 6
T O :
B u d g e t a n d I m p l e m e n t a t i o n C o m m i t t e e
F R O M :
J o h n S t a n d i f o r d , P u b l i c A f f a i r s D i r e c t o r
T H R O U G H :
E r i c H a l e y , E x e c u t i v e D i r e c t o r
S U B J E C T :
S t a t e a n d F e d e r a l L e g i s l a t i v e U p d a t e
S T A F F R E C O M M E N D A T I O N :
T h i s i t e m i s f o r t h e C o m m i t t e e t o :
1 ) A p p r o v e t h e f o l l o w i n g b i l l p o s i t i o n s :
A B 2 0 2 5 ( N i e l l o , R - F a i r O a k s ) S U P P O R T
A B 2 0 2 8 ( H u f f , R - D i a m o n d B a r ) S U P P O R T ;
2 ) R e c e i v e a n d f i l e a s a n i n f o r m a t i o n i t e m ; a n d
3 ) F o r w a r d t o t h e C o m m i s s i o n f o r f i n a l a c t i o n
B A C K G R O U N D I N F O R M A T I O N :
F e d e r a l U p d a t e W a s h i n g t o n V i s i t s
T h e m o n t h s o f F e b r u a r y a n d M a r c h t e n d t o b e q u i t e b u s y i n W a s h i n g t o n w i t h t h e
r e l e a s e o f t h e f e d e r a l b u d g e t a n d t h e s u b s e q u e n t a p p r o p r i a t i o n s r e q u e s t p r o c e s s .
F o r t h a t r e a s o n , R C T C C o m m i s s i o n e r s r e c e n t l y m a d e v i s i t s t o W a s h i n g t o n .
C h a i r m a n M a r i o n A s h l e y , S e c o n d V i c e C h a i r m a n J e f f S t o n e , E x e c u t i v e D i r e c t o r E r i c
H a l e y a n d A n n e M a y e r , P r o g r a m m i n g a n d A d m i n i s t r a t i o n D i r e c t o r v i s i t e d
W a s h i n g t o n o n t h e w e e k o f F e b r u a r y 1 3 a n d h e l d a n u m b e r o f p r o d u c t i v e m e e t i n g s
w i t h e v e r y m e m b e r o f t h e R i v e r s i d e C o u n t y C o n g r e s s i o n a l D e l e g a t i o n , S e n a t o r
F e i n s t e i n a n d t h e s t a f f o f S e n a t o r B o x e r . T h e t r i p t o o k p l a c e d u r i n g t h e s a m e t i m e
t h a t R i v e r s i d e ' s M o n d a y M o r n i n g G r o u p a n d t h e C i t y o f L a k e E l s i n o r e ( w i t h
C o m m i s s i o n e r M a g e e ) w e r e a l s o m a k i n g C a p i t o l v i s i t s .
D u e t o o n g o i n g b u d g e t c o n s t r a i n t s a n d t h e o n g o i n g l o b b y i n g s c a n d a l t h a t h a s
e n v e l o p e d W a s h i n g t o n , t h e i s s u e o f C o n g r e s s i o n a l e a r m a r k i n g o f p r o j e c t s h a s c o m e
u n d e r c l o s e s c r u t i n y . U n l i k e i n p a s t y e a r s , t h e r e w i l l b e l e s s m o n e y a v a i l a b l e t o
i n d i v i d u a l m e m b e r s f o r l o c a l p r o j e c t s . P r o j e c t s t h a t a r e a h i g h p r i o r i t y , r e a d y f o r
c o n s t r u c t i o n a n d o f r e g i o n a l i m p o r t a n c e w i l l b e f a v o r e d .
O n e s u b j e c t a r e a w i t h s i g n i f i c a n t n e e d s a n d t h a t h a s w i d e s p r e a d s u p p o r t i s
i n v e s t m e n t i n g o o d s m o v e m e n t - r e l a t e d i n f r a s t r u c t u r e s u c h a s r a i l r o a d g r a d e
7 5
separations. Last year, Congress approved funding for the Alameda Corridor East
and for specific grade crossing projects in Riverside and Banning. Commission staff
is working with Congressional offices to obtain additional funding for goods
movement projects and will also provide support to local jurisdictions seeking
funding for local projects such as the I-15/Railroad Canyon Interchange in Lake
Elsinore and the I-15/Cajalco Interchange in Corona. Another rail project that is
continuing to advance through the federal process is the Perris Valley Line
extension of Metrolink in Riverside County.
The issue of goods movement was the main topic of conversation during a
Washington trip organized by the Southern California Association of Governments
(SCAG) during the week of February 6. The SCAG contingent included RCTC
representation by Commissioner Ron Roberts. Commissioner Roberts was joined
by SCAG President Toni Young of Port Hueneme and additional elected
representatives from Los Angeles, Orange, Ventura and Imperial counties.
Meetings were held with the Chairmen and staff of both the House Transportation
and Infrastructure Committee and the Senate Environment and Public Works
Committee as well as with Congressman Jerry Lewis and representatives from the
United States Department of Transportation and the ports industry.
One message heard in the SCAG meetings was that now might be the time to start
talking about the next major federal transportation bill. SAFETEA-LU was passed
during the latter half of 2005 but it actually expires in 2009. These multi -year
authorization bills take years to take shape, and the message regarding goods
movement infrastructure is gaining traction. Should the state make a major
investment on goods movement as part of a bond measure, it will also send a clear
message to Washington regarding California's commitment to the issue.
Another message that was sounded repeatedly during the SCAG trip is there will
need to be an increase in federal revenue for transportation. This wasn't seriously
considered in the deliberations for SAFETEA-LU but will need to be in 2009
because the federal trust fund is bound to run out of money about that time.
State Update: Infrastructure Bond — March? November?
March 10 is considered the practical deadline for the Legislature and Governor
Schwarzenegger to reach agreement on a bond proposal to appear in time for the
June 2006 ballot. At the time of the writing of this staff report, it's not clear
whether that deadline will be met which could push the issue back to the
November ballot.
76
"
A s p a r t o f t h e L e g i s l a t i v e p r o c e s s , a n u m b e r o f h e a r i n g s h a v e b e e n s c h e d u l e d t o
c o n s i d e r t h e d e t a i l s o f t h e G o v e r n o r ' s p r o p o s a l a s w e l l a s o t h e r i n f r a s t r u c t u r e
p r o p o s a l s i n t r o d u c e d b y S e n a t e P r e s i d e n t P r o T e m p o r e D o n P e r a t a a n d A s s e m b l y
S p e a k e r F a b i a n N u n e z . R C T C h a s b e e n w e l l - r e p r e s e n t e d a t t h e s e h e a r i n g s b y i t s
S a c r a m e n t o l o b b y i s t M a r k W a t t s a n d i n t w o c a s e s , R C T C r e p r e s e n t a t i v e s h a v e
a c t i v e l y p a r t i c i p a t e d b y p r o v i d i n g t e s t i m o n y .
O n e s u c h e x a m p l e o c c u r r e d o n F e b r u a r y 1 5 w h e n F i r s t V i c e C h a i r T e r r y H e n d e r s o n
a p p e a r e d b e f o r e a h e a r i n g o f t h e S e n a t e T r a n s p o r t a t i o n a n d H o u s i n g C o m m i t t e e .
T h e h e a r i n g w a s h e l d a t C h u l a V i s t a C i t y H a l l a n d f o c u s e d o n t h e i s s u e o f
i n f r a s t r u c t u r e n e e d s i n t h e s t a t e ' s b o r d e r a r e a w i t h M e x i c o . C o m m i s s i o n e r
H e n d e r s o n p r o v i d e d i n f o r m a t i o n o n g o o d s m o v e m e n t i s s u e s i n t h e C o a c h e l l a V a l l e y
w i t h s p e c i a l e m p h a s i s o n i m p a c t s t o S t a t e R o u t e 8 6 S a n d I n t e r s t a t e 1 0 t h a t a r e
a f f e c t e d b y t r u c k s t h a t c r o s s t h e b o r d e r a n d t h a t a l s o t r a v e l e a s t f r o m t h e P o r t s o f
L o n g B e a c h a n d L o s A n g e l e s . C V A G E x e c u t i v e D i r e c t o r J o h n W o h l m u t h a l s o
t e s t i f i e d a n d p r o v i d e d d e t a i l s o n g r o w t h i n t h e e a s t e r n p o r t i o n o f t h e C o a c h e l l a
V a l l e y a n d t h e n e e d f o r a d d i t i o n a l t r u c k c a p a c i t y .
E x e c u t i v e D i r e c t o r E r i c H a l e y a l s o t e s t i f i e d a t a n o t h e r h e a r i n g o f t h e s a m e
c o m m i t t e e t h a t w a s h e l d i n S a c r a m e n t o o n F e b r u a r y 7 . T h e f o c u s o f t h e
S a c r a m e n t o h e a r i n g w a s o n h o w p r o j e c t s s h o u l d b e s e l e c t e d f o r s t a t e f u n d i n g .
T h e k e y p o l i c y i s s u e t h a t h a s e m e r g e d t h a t s e p a r a t e s t h e A d m i n i s t r a t i o n a n d t h e
l e g i s l a t i v e p r o p o s a l s i s h o w t o s e l e c t p r o j e c t s . T h e G o v e r n o r ' s S t r a t e g i c G r o w t h ,
P l a n r e l i e s o n g u i d e l i n e s a n d c r i t e r i a t o b e d e v e l o p e d o v e r t h e n e x t s e v e r a l m o n t h s '
a n d w h i c h a r e b a s e d o n t h e p r i n c i p l e s o f t h e G o C a l i f o r n i a t e m p l a t e o f m a k i n g
s m a r t , t a r g e t e d i n v e s t m e n t s , w h i l e t h e l e g i s l a t i v e a u t h o r s t e n d t o r e l y o n t h e
e x i s t i n g a l l o c a t i o n a p p r o a c h e s t h e t r a n s p o r t a t i o n c o m m u n i t y i s c o m f o r t a b l e w i t h .
T h e r e i s a - l o t o f l e g i s l a t i v e s t a f f w o r k u n d e r w a y a t t h e p r e s e n t f o c u s i n g o n
d e v e l o p i n g a l l o c a t i o n a p p r o a c h e s f o r t h e G o o d s M o v e m e n t a n d t h e C o r r i d o r
I m p r o v e m e n t / F o c u s R o u t e c a t e g o r i e s . I t w o u l d a p p e a r t h a t , f o r b o t h o f t h e
G o v e r n o r ' s n e w m a j o r e x p e n d i t u r e c a t e g o r i e s , t h e g o a l o f t h e s t a f f i s t o e l e v a t e t h e
s t a n d i n g o f r e g i o n a l a n d c o u n t y a g e n c i e s t o a l e v e l o n a p a r w i t h t h e s t a t e i n
m a k i n g a l l o c a t i o n r e q u e s t s a n d r e c o m m e n d a t i o n s , w i t h t h e l i k e l y r o l e f o r t h e
u l t i m a t e d e t e r m i n a t i o n t o b e a t t h e C a l i f o r n i a T r a n s p o r t a t i o n C o m m i s s i o n .
S e n a t o r B o b D u t t o n o f R a n c h o C u c a m o n g a i s t h e S e n a t e s p o n s o r o f t h e G o v e r n o r ' s
p r o p o s a l a n d h a s a c t i v e l y s o u g h t o u t l o c a l i n p u t o n t h e p a r t i c u l a r s o f t h e l e g i s l a t i o n .
T h e S e n a t o r h a s h a d r e g u l a r m e e t i n g s o f t h e l o c a l b u s i n e s s a n d t r a n s p o r t a t i o n
c o m m u n i t y w h i c h h a s i n c l u d e d p a r t i c i p a t i o n f r o m R C T C s t a f f . T h e S e n a t o r
r e p r e s e n t s a s i g n i f i c a n t p a r t o f R i v e r s i d e C o u n t y a n d h a s b e e n s u c c e s s f u l i n
c o m m u n i c a t i n g l o c a l t r a n s p o r t a t i o n n e e d s t o m a n y o t h e r l e g i s l a t o r s . S t a f f w i l l k e e p
t h e C o m m i s s i o n e r s a p p r i s e d o f o n g o i n g d e v e l o p m e n t s r e g a r d i n g t h i s l e g i s l a t i o n .
7 7
Assembly Republicans have also added a number of bills to the infrastructure
deliberation process with some opposed to a major bond effort. Two bills of
interest to RCTC are AB 2025 authored by Roger Niello and AB 2028 by Robert
Huff. AB 2025 would broaden the state's authority to use design -build contracting
and is similar to other bills that RCTC has already supported. AB 2028 is likely to
be amended but would enact into law that it would be the state's intention to
repay previously -diverted Proposition 42 dollars by FY 2007-08. The current
budget proposed by the Governor would repay $920 million of previously diverted
Proposition 42 funds and it is unclear how it will fare during the legislative process.
Proposition 42 Fix
An important component of the Governor's Strategic Growth Plan is reform. This
includes reform of the state's contracting procedures to allow for Design Build
contracting, greater flexibility for private sector investment and greater protection
for Proposition 42. The Governor's call to fix Proposition 42 is embodied in ACA 4
(Plescia) which eliminates the suspension clause presently in the constitution.
RCTC has already taken a SUPPORT position on this bill. There is growing support
in the legislature to support this approach, although there are rumors floating out of
the Assembly that the leadership there would like to see an approach that would
combine a Proposition 42 "fix" with elimination of the suspension clause in
Proposition 98.
In recognition of the long-standing goal that addressing Proposition 42 is critical to
stabilizing transportation funding, the California Alliance for Jobs, Transportation
California and the League of California Cities are sponsoring an initiative that
eliminates the suspension clause and calls for repayment of outstanding General
Fund loans over a 10-year period. This initiative is in the signature gathering phase
and is on target to submit the necessary signatures in a timely manner to qualify
for the November 2006 ballot.
Attachment: Legislative Matrix
78
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"
"
N T Y T R A N S P O R T A T I O N C O M M I S S I O N - P O S I T I O N S O N S T A T E A N D F E D E R A L L E G I S L A T I O N U P D A T E D F e b r u a r y 1 7 , 2 0 0 6
��
1
A [ I t e
r `
y .
A B 4 2 6
( B o g h )
T h i s b i l l w o u l d r e q u i r e C a l t r a n s t o c o n v e r t a l l H O V l a n e s o n s t a t e
h i g h w a y s i n R i v e r s i d e C o u n t y t h a t c u r r e n t l y o p e r a t e o n a 2 4 - h o u r
b a s i s i n t o p a r t - t i m e H O V l a n e s t h a t o p e r a t e a s m i x e d - f l o w l a n e s
e x c e p t d u r i n g p e a k p e r i o d s , s u b j e c t t o a n y r e q u i r e d a p p r o v a l s o f t h e
f e d e r a l g o v e r n m e n t .
B i l l i s d e a d .
S U P P O R T I N
C O N C E P T
4 / 1 3 / 0 5
A B 4 5 3
( B e n o i t )
T h i s b i l l w o u l d e x t e n d t h e t i m e l i m i t t h a t i s c u r r e n t l y i n p l a c e u n d e r
s t a t e l a w f o r s t a t e f u n d i n g o f r a i l r o a d g r a d e c r o s s i n g s .
9 / 2 2 / 0 5 S i g n e d b y
G o v e r n o r .
S U P P O R T
4 / 1 3 / 0 5
A B 8 5 0
( C a n c i a m i l l a )
T h i s b i l l w o u l d a u t h o r i z e t h e D e p a r t m e n t o f T r a n s p o r t a t i o n t o e n t e r
i n t o c o m p r e h e n s i v e d e v e l o p m e n t f r a n c h i s e a g r e e m e n t s w i t h p u b l i c
a n d p r i v a t e e n t i t i e s f o r s p e c i f i e d t y p e s o f t r a n s p o r t a t i o n p r o j e c t s
s u b j e c t t o c e r t a i n r e q u i r e m e n t s a n d c o n d i t i o n s . T h e b i l l w o u l d r e q u i r e
a f r a n c h i s e a g r e e m e n t t o a l l o w t h e d e p a r t m e n t t o a c q u i r e b y
c o n d e m n a t i o n o r n e g o t i a t i o n t h e f i n a n c i a l v a l u e o f a c o m p e t i n g t o l l
f a c i l i t y i f i t o p e n s a c o m p e t i t i v e s t a t e f a c i l i t y i n t h e s a m e c o r r i d o r .
B i l l i s d e a d .
S U P P O R T W I T H
A M E N D M E N T S
4 / 1 3 / 0 5
A B 1 2 6 6
( N i e l l o )
T h i s b i l l w o u l d g e n e r a l l y a u t h o r i z e t h e D e p a r t m e n t o f T r a n s p o r t a t i o n
t o a w a r d c o n t r a c t s f o r p r o j e c t s u s i n g t h e d e s i g n - s e q u e n c i n g c o n t r a c t
m e t h o d , i f c e r t a i n r e q u i r e m e n t s a r e m e t .
B i l l i s d e a d .
S U P P O R T
4 / 1 3 / 0 5
A B 1 6 9 9
( F r o m m e r )
T h i s b i l l w o u l d s t a t e t h e i n t e n t o f t h e L e g i s l a t u r e t o a u t h o r i z e c e r t a i n
t r a n s p o r t a t i o n a u t h o r i t i e s t o u s e a d e s i g n - b u i l d p r o c e s s f o r b i d d i n g o n
o n e h i g h w a y c o n s t r u c t i o n p r o j e c t w i t h i n t h e j u r i s d i c t i o n o f t h e
a p p l i c a b l e t r a n s p o r t a t i o n a u t h o r i t y .
7 / 5 / 0 5 H e a r i n g
p o s t p o n e d b y S e n a t e
T r a n s & H o u s i n g
C o m m i t t e e .
S U P P O R T I N
C O N C E P T
5 / 1 1 / 0 5
A B 1 7 1 4
( P l e s c i a )
T h i s b i l l w o u l d r e q u i r e t h e c o n s t r u c t i o n o f t h e m o r e a f f o r d a b l e s k y w a y
s t r u c t u r e a n d w o u l d l i m i t t h e u s e o f a d d i t i o n a l t o l l r e v e n u e t o s e i s m i c
r e t r o f i t p r o j e c t s s u c h a s t h e B a y B r i d g e r e p a i r . T h e s t a t e ' s
r e s p o n s i b i l i t y o f $ 3 0 0 m i l l i o n w i l l b e f o r t h e d e m o l i t i o n o f t h e o l d
b r i d g e . T h e r e s t o f t h e m o n e y n e e d e d t o c o m p l e t e t h e n e w b r i d g e
w o u l d h a v e t o b e r a i s e d f r o m a c o m b i n a t i o n o f i n c r e a s e d t o l l s , l o c a l
b o n d s a l e s a n d e x i s t i n g s t a t e a n d f e d e r a l h i g h w a y a p p r o p r i a t i o n s . A B
1 7 1 4 r e f l e c t s t h e G o v e r n o r ' s p o s i t i o n o n t h e B r i d g e i s s u e .
B i l l i s d e a d .
S U P P O R T
5 / 1 1 / 0 5
A B 2 0 2 5
( N i e l l o )
T h i s b i l l w o u l d a u t h o r i z e t h e d e p a r t m e n t t o c o n t r a c t u s i n g t h e d e s i g n -
b u i l d p r o c e s s , a s d e f i n e d , f o r t h e d e s i g n a n d c o n s t r u c t i o n o f
t r a n s p o r t a t i o n p r o j e c t s .
2 / 1 5 / 0 6 F r o m P r i n t e r .
M a y b e h e a r d i n
C o m m i t t e e 3 / 1 7 / 0 6 .
S T A F F
R E C O M M E N D S :
S U P P O R T
A B 2 0 2 8
( H u f f )
T h i s b i l l w o u l d s t a t e t h e i n t e n t o f t h e L e g i s l a t u r e t o p r o v i d e a n
a p p r o p r i a t i o n i n t h e B u d g e t A c t o f 2 0 0 7 o r i n r e l a t e d l e g i s l a t i o n d u r i n g
t h e 2 0 0 7 - 0 8 f i s c a l y e a r t o r e p a y f u l l y a l l f u n d s w h i c h w o u l d h a v e
b e e n t r a n s f e r r e d t o t h e T r a n s p o r t a t i o n I n v e s t m e n t F u n d i n p r e v i o u s
f i s c a l y e a r s . - - - -
2 / 1 5 / 0 6 F r o m P r i n t e r .
M a y b e h e a r d i n
C o m m i t t e e 3 / 1 7 / 0 6 .
S T A F F
R E C O M M E N D S :
S U P P O R T
F : \ u s e r s \ p r e p r i n t \ j s \ e g m a t . d o c
M`
ACA 4
(Plescia)
This measure would delete the provision authorizing the Governor and
the Legislature to suspend the transfer of revenues from the General
Fund to the Transportation Investment Fund for a fiscal year during a
fiscal emergency, specific to Proposition 42.
Approved by
Assembly
Transportation
Committee on
1`/10/06 and referred
to Appropriations.
SUPPORT
1 /12/05
ACA 9
(Bogh)
This measure would change the vote requirement to 4/5 of the
membership of each house of the Legislature in order to enact a
statute suspending in whole or in part the transfer of motor vehicle
tax revenue from the General Fund to the Transportation Investment
Fund, specific to Proposition 42.
Approved by
Assembly
Transportation
Committee on
1/10/06 and referred
to Appropriations.
SUPPORT
3/18/05
ACA 11
(Oropeza)
This measure would delete the provisions authorizing the transfer of
revenues from the General Fund to the Transportation Investment
Fund to be suspended. The measure would authorize the Legislature
to loan funds in the Transportation Investment Fund to the General
Fund or any other state fund or account, or to local agencies, under
conditions that are similar to conditions applicable to loans of
revenues under Article XIX of the California Constitution, and would
require interest to be paid on a loan that is not repaid within the same
fiscal year as it was made, specific to Proposition 42.
Approved by
Assembly
Transportation
Committee on
1 /10/06 and referred
to Appropriations.
SUPPORT
3/18/05
ACA 22
(LaMalfa)
Proposed Constitutional Amendment would severely restrict the use
of eminent domain.
1/31/06 Re -referred
to Committee on
Housing and
Community
Development.
SEEK
AMENDMENTS
9/14/05
ACA X 1 4
(Keene)
This measure would, on and after July 1, 2006, prohibit the transfer
of funds from a special fund to the General Fund as a loan, with
specified exceptions. Any funds that were transferred prior to that
date from a special fund for the purpose of making a loan to the
General Fund and that have not been repaid would be required to be
repaid over the next 15 years. In exchange,. Proposition 42 would be
permanently protected in the future.
Amended. Re -referred
to Committee on
Budget Process
4/12/05.
WATCH
4/13/05
SB 371
(Torlakson)
This bill would allow state, regional, and local transportation
authorities to try design -build contracting under specific criteria and
for these projects to be audited to determine the success or failure of
use of design -build by these transportation entities.
1 /31 /06 In Assembly.
'Read first time. Held.
SUPPORT IN
CONCEPT
5/1 1 /05
SB 427
(Hollingsworth)
Originally, this bill would exempt from CEQA requirements the
construction of any overpass, onramp, or offramp that is built -on an
existing State Department of Transportation (CALTRANS) right -of-
way. It has now been amended to make changes to the
environmental scoping process and additional amendments are likely.
2/16/06 To
Committee on Natural
Resources.
SUPPORT
4/13/05
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