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02 February 25, 2008 Budget & ImplementationRECORDS RIVERSIDE COUNTY TRANSPORTATION COMMISSION 83197 BUDGET AND IMPLEMENTATION COMMITTEE MEETING AGENDA TIME: 9:30 a.m. DATE: Monday, February 25, 2008 LOCATION: BOARD ROOM County of Riverside Administrative Center 4080 Lemon Street, First Floor, Riverside ***COMMITTEE MEMBERS*** Steve Adams, Chair / Andy Melendrez, City of Riverside Roger Berg, Vice -Chair / Jeff Fox, City of Beaumont Joseph DeConinck / Robert Crain, City of Blythe John Chlebnik / Ray Quinto, City of Calimesa Mary Craton / John Zaitz, City of Canyon Lake Gregory S. Pettis / Kathleen DeRosa, City of Cathedral City Eduardo Garcia / Steven Hernandez, City of Coachella Yvonne Parks / Scott Matas, City of Desert Hot Springs Terry Henderson / Don Adolph, City of La Quinta Bob Magee / Robert L. Schiffner, City of Lake Elsinore Rick Gibbs / Kelly Bennett, City of Murrieta Gordon Moller / Alan Seman, City of Rancho Mirage Ron Roberts / Jeff Comerchero, City of Temecula John F. Tavaglione, County of Riverside, District II ***STAFF*** Anne Mayer, 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 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 Speaker Card to the Clerk of the Board. 11.36.06 • RIVERSIDE COUNTY TRANSPORTATION COMMISSION BUDGET AND IMPLEMENTATION COMMITTEE www.rctc.org AGENDA* *Actions may be taken on any item listed on the agenda 9:30 a.m. Monday, February 25, 2008 BOARD ROOM County Administrative Center 4080 Lemon Street, First Floor Riverside, California In compliance with the Americans with Disabilities Act and Government Code Section 54954.2, if you need special assistance to participate in a Committee meeting, please contact the Clerk of the Board at (951) 787-7141. Notification of at least 48 hours prior to meeting time will assist staff in assuring that reasonable arrangements can be made to provide accessibility at the meeting. 1. CALL TO ORDER 2. PLEDGE OF ALLEGIANCE 3. ROLL CALL 4. PUBLIC COMMENTS - Each individual speaker is limited to speak three (3) continuous minutes or less. The Committee may, either at the direction of the Chair or by majority vote of the Committee, waive this three minute time limitation. Depending on the number of items on the Agenda and the number of speakers, the Chair may, at his/her discretion, reduce the time of each speaker to two (2) continuous minutes. Also, the Committee may terminate public comments if such comments become repetitious. In addition, the maximum time for public comment for any individual item or topic is thirty (30) minutes. Speakers may not yield their time to others without the consent of the Chair. Any written documents to be distributed or presented to the Committee shall be submitted to the Clerk of the Board. This policy applies to Public Comments and comments on Agenda Items. Under the Brown Act, the Board should not take action on or discuss matters raised during public comment portion of the agenda which are not listed on the agenda. Board members may refer such matters to staff for factual information or to be placed on the subsequent agenda for consideration. Budget and Implementation Committee February 25, 2008 Page 2 5. APPROVAL OF MINUTES - JANUARY 28, 2008 6. ADDITIONS/REVISIONS (The Committee may add an item to the Agenda after making a finding that there is a need to take immediate action on the item and that the item came to the attention of the Committee subsequent to the posting of the agenda. An action adding an item to the agenda requires 2/3 vote of the Committee. If there are less than 2/3 of the Committee members present, adding an item to the agenda requires a unanimous vote. Addeditems will be placed for discussion at the end of the agenda.) 7. CONSENT CALENDAR - All matters on the Consent Calendar will be approved in a single motion unless a Commissioner(s) requests separate action on specific item(s). Items pulled from the Consent Calendar will be placed for discussion at the end of the agenda. 7A. MID -YEAR BUDGET ADJUSTMENTS Overview This item is for the Committee to: Page 1 1) Approve a $ 122,000 increase in FY 2007/08 expenditures for mid -year budget adjustments; and 2) Forward to the Commission for final action. 7B. QUARTERLY FINANCIAL STATEMENTS Overview This item is for the Committee to: Page 3 1) Receive and file the Quarterly Financial Statements for the period ended December 31, 2007; and 2) Forward to the Commission for final action. Budget and Implementation Committee February 25, 2008 Page 3 7C. SINGLE SIGNATURE AUTHORITY REPORT Overview This item is for the Committee to: Page 9 1) Receive and file the Single Signature Authority Report for the second quarter ended December 31, 2007; and 2) Forward to the Commission for final action. 7D. QUARTERLY INVESTMENT REPORT Overview This item is for the Committee to: Page 11 1) Receive and file the Quarterly Investment Report for the quarter ended December 31, 2007; and 2) Forward to the Commission for final action. 8. PROPOSED POLICY GOALS AND OBJECTIVES FOR FISCAL YEAR 2008/09 BUDGET Overview This item is for the Committee to: Page 24 1) Approve the proposed Commission Policy Goals and Objectives for the Fiscal Year 2008/09 Budget; and 2) Forward to the Commission for final action. Budget and Implementation Committee February 25, 2008 Page 4 9. AGREEMENTS TO MCGLADREY AND PULLEN, LLP AND MAYER HOFFMAN MCCANN P.C. FOR AUDIT SERVICES FOR THE COMMISSION AND FOR THE MEASURE A RECIPIENTS/TRANSPORTATION DEVELOPMENT ACT CLAIMANTS Overview This item is for the Committee to: Page 34 1) Award Agreement No. 08-19-075-00 to McGladrey and Pullen, LLP to perform audit services related to the Commission for the amount of $363,950, plus a contingency amount of $36,050 for additional services that may be required in connection with debt offerings and other transactions, for a total award of $400,000; 2) Award Agreement No. 08-19-074-00 to Mayer Hoffman McCann P.C. to perform audit services related to the Commission's Measure A recipients/Transportation Development Act (TDA) claimants for the amount of $589,218, plus a contingency amount of $50,782 for additional services that may be required due to additional recipients or claimants to be audited, for a total award of $640,000; 3) Authorize the Chair, pursuant to legal counsel review, to execute the agreements on behalf of the Commission; and 4) Forward to the Commission for final action. 10. MEASURE A WESTERN COUNTY REGIONAL ARTERIAL CALL FOR PROJECTS Overview This item is for the Committee to: 1) Receive and file the status of Measure A Western County Regional Arterial call for projects; and 2) Forward to the Commission for final action. Page 38 • • • Budget and Implementation Committee February 25, 2008 Page 5 11. CITY OF CORONA TRANSPORTATION UNIFORM MITIGATION FEE PROGRAMMING REQUEST FOR ADDITIONAL FUNDING FOR THE FOOTHILL PARKWAY EXTENSION PROJECT FROM PASEO GRANDE TO LINCOLN AVENUE . Page 39 Overview This item is for the Committee to: 1) Approve the city of Corona's request to increase the Transportation Uniform Mitigation Fee (TUMF) Regional Arterial funds for the right-of-way phase on the Foothill Parkway extension project from $2 million to $12 million; 2) Approve an increase for expenditures of $ 10 million in the FY 2007/08 budget; 3) Amend the TUMF agreement; and 4) Forward to the Commission for final action. 12. STATE LEGISLATIVE UPDATE Overview This item is for the Committee to: 1) Receive and file the State Legislative Update; and 2) Forward to the Commission for final action. 13. ITEM(S) PULLED FROM CONSENT CALENDAR AGENDA 14. COMMISSIONERS / STAFF REPORT Overview Page 42 This item provides the opportunity for the Commissioners and staff to report on attended and upcoming meeting/conferences and issues related to Commission activities. 15. ADJOURNMENT AND NEXT MEETING The next Budget and implementation Committee meeting is scheduled to be held at 9:30 a.m., Monday, March 24, 2008, Board Chambers, First Floor, County Administrative Center, 4080 Lemon Street, Riverside. BUDGET AND IMPLEMENTATION COMMITTEE MEETING COMMISSIONER SIGN -IN SHEET FEBRUARY 25, 2008 NAME AGEc� E MAIL ADDRESS 6,11 �'!a'(e_rv/.y. G awls I rJ ' dz,‘,/,,,__ v575•t%b yse.d�,4-1.4�5- a tz_. Rr c 6 - / 8 �s /V Ul /1- 7-r yV 0 d" 11 P,� K S ID-sirieThte7- s/W/A, v,s .%/fit) C1-,1_€A?NI/ GALii1�5/9- RIVERSIDE COUNTY TRANSPORTATION COMMISSION BUDGET AND IMPLEMENTATION COMMITTEE ROLL CALL FEBRUARY 25, 2008 County of Riverside, District II City zof Beaumont City of Blythe City of:Calimesa City o,f Canyon Lake City of Cathedral City City of- Coachella ...` City of Desert Hot Springs :City,of La Quints Crty:of'...............................................................' City of Murrieta City of RanochIVI1,rage City of Riverside City �of Temecula Absent O • AGENDA ITEM 5 • MINUTES RIVERSIDE COUNTY TRANSPORTATION COMM/SS/ON BUDGET AND IMPLEMENTATION COMMITTEE Monday, January 28, 2008 MINUTES 1. CALL TO ORDER Chair Rick Gibbs called the meeting of the Budget and Implementation Committee to order by at 9:40 a.m., in the Board Room at the County of Riverside Administrative Center, 4080 Lemon Street, First Floor, Riverside, California; 92501. 2. PLEDGE OF ALLEGIANCE At this time, Commissioner Bob Magee led the Budget and Implementation Committee in a flag salute. ROLL CALL Members/Alternates Present Members Absent Steve Adams Roger Berg Mary Craton Joseph DeConinck Eduardo Garcia Rick Gibbs Terry Henderson Bob Magee John Tavaglione 4. PUBLIC COMMENTS John Chlebnik Gregory Pettis Gordon Moller Ron Roberts Vacant - Desert Hot Springs There were no requests to speak from the public. Budget and Implementation Committee Minutes January 28, 2008 Page 2 5. APPROVAL OF MINUTES - OCTOBER 22 and NOVEMBER 26, 2007 M/S/C (Craton/Berg) to approve the minutes of October 22 and November 26, 2007, as submitted. Abstain: Tavaglione, November 26, 2007 minutes. 6. ADDITIONS / REVISIONS Agenda Items 7B, "Mid -Year Revenue Projections", and Agenda Item 7C, "Fiscal Year 2008/09 Revenue Projections", were pulled for discussion per staff's request. 7. CONSENT CALENDAR - All matters on the Consent Calendar will be approved in a single motion unless a Commissioner(s) requests separate action on specific item(s1. Items pulled from the Consent Calendar will be placed for discussion at the end of the agenda. M/S/C (Henderson/Craton) to approve the following Consent Calendar item(s): 7A. INTERFUND LOAN ACTIVITY REPORT 11 Receive and file the Interfund Loan Activity Report; and 2) Forward to the Commission for final action. 7D. TRANSPORTATION UNIFORM MITIGATION FEE REGIONAL ARTERIAL PROGRAM UPDATE 1) Receive and file an update on the Transportation Uniform Mitigation Fee (TUMF) regional arterial program; and 2) Forward to the Commission for final action. 8. TRANSPORTATION ENHANCEMENT FUNDS FROM THE CITY OF CORONA'S DOWNTOWN ENHANCEMENT PROJECT TO THE CITY OF CORONA'S MAGNOLIA AVENUE TRANSPORTATION ENHANCEMENT PROJECT Grace Alvarez, Staff Analyst, provided an overview on the reprogramming of the Transportation Enhancement (TE) funds from the City of Corona's downtown enhancement project to the City of Corona's Magnolia Avenue TE project. M/S/C (Henderson/Craton) to: Budget and Implementation Committee Minutes January 28, 2008 Page 3 1) Approve the reprogramming of $1,416,300 of federal Transportation Enhancement (TE) funds from the city of Corona's (Corona) Downtown Enhancement project to Corona's Magnolia Avenue TE project; and 2) Forward to the Commission for final action. 9. INTERSTATE 15 SCOPE OF IMPROVEMENTS AND MODIFICATION OF 10-YEAR WESTERN COUNTY HIGHWAY DELIVERY PLAN AND AGREEMENT WITH HDR ENGINEERING, INC. TO PROVIDE PRELIMINARY ENGINEERING AND ENVIRONMENTAL SERVICES, PROJECT REPORT, AND ENVIRONMENTAL DOCUMENT FOR IMPROVEMENTS TO INTERSTATE 15 FROM THE SAN BERNARDINO COUNTY LINE TO INTERSTATE 215 Michael Blomquist, Toll Project Manager, provided a status report on the 1-15 scope of improvements and modification of the 10-Year Western County Highway Delivery Plan, including the current and proposed configuration of 1-15. He then provided an overview of the agreement with HDR Engineering, Inc. to provide preliminary engineering and environment services, project report, and environmental document for the improvements. In response to Commissioner Bob Magee's request for clarification on the proposed improvements on 1-15 from SR-74 south to 1-215 that were approved by the Commission in December 2006, Michael Blomquist replied Measure A reflects one lane in each direction and staff is proposing that it be a high occupancy vehicle lane. In response to Chair Gibbs' question regarding the modification to the cooperative agreement for the project, Anne Mayer, Executive Director, clarified that the Commission's cooperative agreement with Caltrans on this project does not have any funding tied to it. It merely defines the project roles and responsibilities and stated that as the Executive Director, she has the authority to execute. Budget and Implementation Committee Minutes January 28, 2008 Page 4 M/S/C (Magee/Adams) to: 1) Approve 1-15 scope of ` improvements and modification of 10-Year Western County Highway Delivery Plan; 2) Award Agreement No. 08-31-059-00 to HDR Engineering, Inc. to provide preliminary engineering and environmental services for the preparation of a Caltrans project report and environmental document (PR/ED) for improvements to 1-15 from the San Bernardino County line to 1-215. Staff is negotiating with HDR Engineering, Inc. and expects to bring a final contract to the February 13, 2008 Commission meeting; 3) Authorize the Chair, pursuant to legal counsel review, to execute the agreement on behalf of the Commission; 4) Authorize the Executive Director, pursuant to legal counsel review, to execute necessary, non -funding related Caltrans cooperative agreements for the project; 5) Authorize the Executive Director or designee to approve contingency work up to the total not to exceed amount as required for the project; and 6) Forward to the Commission for final action. 10. ON -CALL STRATEGIC PARTNERSHIP ADVISORY SERVICES AMENDMENT WITH PB CONSULT, INC. Michael Blomquist provided a brief overview of the amendment with PB Consult, Inc. for on -call strategic partnership advisory services. Commissioner Magee asked with regard to the tasks listed in the agenda item, when the development of a phased project implementation plan will be brought forward to the Committee for approval. Michael Blomquist replied that the task is scheduled to commence July 1, 2008, and completed by approximately spring of 2009. M/S/C (Magee/Adams) to: 1) Approve Agreement No. 06-66-027-16, Amendment No. 5 to Agreement 06-66-027, for the on -call strategic partnership advisory services with PB Consult, Inc. by extending contract term of performance to February 9, 2012, and augment the agreement by $493,266 to provide continued support of toll program activities; 2) Authorize the Chair, pursuant to legal counsel review, to execute the agreement on behalf of the Commission; and 3) Forward to the Commission for final action. Budget and Implementation Committee Minutes January 28, 2008 Page 5 11. FEDERAL ADVOCACY SERVICES AGREEMENT AND STATE AND FEDERAL LEGISLATIVE UPDATE Aaron Hake, Staff Analyst, provided an update on AB 660 (Galgiani) and AB 353 (Carter) as both bills deal with the Public Utilities Commission (PUC) and the grade separation funding program. He then provided an overview of the agreement with The Skancke Company for federal advocacy services. Commissioner Terry Henderson expressed strong concern for AB 660 and suggested taking a stronger position. She asked if there were other agencies that are actively working to eliminate this issue. Aaron Hake replied that the Alameda Corridor East Construction Authority in the San Gabriel Valley is taking a position of SUPPORT IF AMENDED. Commissioner Steve Adams concurred with Commissioner Henderson's comments and expressed concern regarding the Legislature's authority over funding allocations. He also suggested taking a stronger position on AB 660. Commissioner Roger Berg concurred with Commissioners Henderson's and Adams' comments. Commissioner John Tavaglione suggested an OPPOSE UNLESS AMENDED position on AB 660. In response to Commissioner Mary Craton's question Cliff Madison's resources to handle the Commission's federal advocacy services, Aaron Hake replied that Cliff Madison has ample resources to assist the Commission, noting that the firms have different strengths. Chair Gibbs expressed that there will need to be a clear definition of responsibilities for both lobbyists. Aaron Hake replied that the Commission Workshop will be an excellent opportunity to discuss the Commission's expectations. He explained staff will be aggressive in managing how these lobbyists are deployed and to ensure the maximization of resources. Anne Mayer stated that it will be very important in reauthorization to discuss goods movement as it is a key issue in Riverside County. It is important to have lobbyists that understand and have been involved in goods movement. She explained that staff will be working on strategies over the next month and will invite the Commission's lobbyists to the Commission Workshop. She stated that one of the goals of the workshop is to clearly define policy objectives as well as the lobbyists' roles. Budget and Implementation Committee Minutes January 28, 2008 Page 6 M/S/C (Adams/Berg) to recommend to the Commission to 1) Award Agreement No. 08-14-057700 for federal advocacy services to The Skancke Company; 2) Authorize the Chair, pursuant to legal counsel review, to execute the agreement on behalf of the Commission; 3) Adopt the following bill positions: a) AB 660 (Galgiani): OPPOSE UNLESS AMENDED b) AB 353 (Carter): SUPPORT; and 4) forward to the Commission for final action. 12. ELECTION OF OFFICERS Jennifer Harmon, Clerk of the Board, provided an overview of election of officers for 2008 in accordance with the Administrative Code. At this time, Chair Gibbs opened nominations for the slate of officers. Commissioner Terry Henderson, seconded by Commissioner Bob Magee, nominated the following slate of officers for 2008: Steve Adams for the Chair position; and Roger Berg for the Vice Chair position. No other nominations were received. Chair Gibbs closed the nominations. Commissioners Steve Adams and Roger Berg were unanimously elected as the Budget and implementation Committee's Chair and Vice Chair, respectively. 13. ITEMS PULLED FROM CONSENT CALENDAR 7B. MID -YEAR REVENUE PROJECTIONS Theresia Trevino, Chief Financial Officer, explained the presentation will cover Agenda Items 7B and 7C and discussed the following areas: • Revenue projections - Annual process to assess Measure A and Local Transportation Fund (LTF) tax revenues and projection based on current trends, prior year history, economic data and other available information; • Revenue trends in 2007; • Measure A revenues; • Other FY 2007/08 Measure A impacts; • LTF revenues; • Other FY 2007/08 LTF impacts; Budget and Implementation Committee Minutes January 28, 2008 Page 7 • Difference between Measure A and LTF taxes; • Transportation Uniform Mitigation Fee (TUMF) revenues; • State Transit Assistance (STA) revenues; and • Next steps — Approval of budget adjustments and FY 2008/09 projections, continued monitoring of Measure A, LTF, and TUMF revenues for FY 2007/08, assessment of revenue trends through completion of FY 2008/09 budget development and advise local jurisdictions of decrease funding for local streets and roads projects. Commissioner Berg requested an update on the efforts of MuniServices, LLC, to evaluate and recover the Commission's lost revenues. He inquired as to the collection of sales tax from the various Indian casinos and the impacts as the Indian casinos expand, as it may be beneficial for the Commission to know when staff negotiates impacts. Additionally, he asked about the collection of TUMF related to commercial properties. Theresia Trevino replied MuniServices, LLC, has provided preliminary information regarding the Commission in comparison to other jurisdictions. Additionally, it is beginning to analyze the Commission's records from the State Board of Equalization and will meet with staff on a quarterly basis to review the trends. She added that the Commission is collecting TUMF for commercial properties. In response to Commissioner Henderson's question regarding projects that have been completed for the Coachella Valley regional arterial program including overpasses, Theresia Trevino replied there are projects along Highway 111 in which the cities are the lead agency and the overpasses would not be included as those projects. She explained 40% of the revenues in the Coachella Valley go towards the regional arterial program managed by Coachella Valley Association of Governments. At Chair Gibbs' request, Theresia Trevino explained that the Governor's gas tax proposal would suspend the gas tax that goes to the cities until about September 2008. Therefore, the cities would have to use their own monies to fund any projects that the gas tax would have funded. Budget and Implementation Committee Minutes January 28, 2008 Page 8 Anne Mayer explained that in previous years as the state moved funds out of the highway account, the Commission has been able to use local resources to keep projects moving forward. With Measure A funds down significantly, it will have a ripple effect on Western Riverside County and Coachella Valley. The current proposal from the administration will take funds from the counties and cities for a significant period of time. The Commission needs to continue to monitor the situation to determine the amount of funds to be received and be aggressive to point out to the elected officials and the delegation the potential consequences as there may not be enough funds to back fill projects. Staff will continue to update the Commission, noting that there have been discussions with the California Transportation Commission staff. Additionally, staff is developing a list of projects to provide the delegation an understanding of the projects that may not go forward in the near term as monies continue to be deferred. Commissioner Steve Adams urged the Commission to continue to maintain the projects currently in progress and extend the start date of future projects to ensure the current projects are funded and completed. Anne Mayer concurred with Commissioner Adams and stated that millions of dollars have been invested in these projects. As it relates to the. Regional Arterial call for projects, staff is reviewing the projects being nominated with the projects in the TUMF program and the State Transportation Improvement Program, as the priority will be to fully fund current projects prior to funding new projects. M/S/C (Adams/Henderson) to: 1) Approve the Mid -Year Revenue Projections; 2) Approve the budget reduction adjustments to Measure A revenues of $30,600,000 and expenditures of $14,914,000 to reflect the revised Measure A projections; 3) Approve the budget reduction adjustments to Local Transportation Fund (LTF) revenues of $10,990,000 to reflect the revised LTF projections; 4) Approve the budget reduction adjustment to Transportation Uniform Mitigation Fee (TUMF) revenues of $17,250,000 to reflect the revised TUMF projections; 5) Approve the budget reduction adjustment to State Transit Assistance (STA) revenues of $13,488,900 to reflect the revised STA revenue allocation estimates; and 6) Forward to the Commission for final action. • • Budget and Implementation Committee Minutes January 28, 2008 Page 9 7C. FISCAL YEAR 2008/09 REVENUE PROJECTIONS M/S/C (Adams/Henderson) to: 1) Approve the projections of the Local Transportation Fund (LTF) apportionment for the Western Riverside County, Coachella Valley, and Palo Verde Valley areas; 2) Approve the projections for Measure A and the related allocations; 3) Approve the projections for Transportation Uniform Mitigation Fee (TUMF) revenues; and 4) Forward to the Commission for final action. 14. COMMENTS BY COMMISSIONERS/STAFF Terry Henderson briefed the Committee on the dedication of the DiIlion Road Grade Separation in the city of Coachella held on January 22, 2008. 15. ADJOURNMENT There being no further business for consideration by the Budget and Implementation Committee, the meeting was adjourned at 10:35 a.m. The next meeting of the Budget and Implementation Committee is scheduled for February 25, 2008 at 9:30 a.m. Respectfully submitted, Osue‘xsi Hoh Jennifer Harmon Clerk of the Board AGENDA ITEM 7A RIVERS/DE COUNTY TRANSPORTATION COMM/SS/ON DATE: February 25, 2008 TO: Budget and Implementation Committee FROM: Michele Cisneros, Accounting and Human Resources Manager THROUGH: Theresia Trevino, Chief Financial Officer SUBJECT: Mid -Year Budget Adjustments STAFF RECOMMENDATION: This item is for the Committee to: 1) Approve a $122,000 increase in FY 2007/08 expenditures for mid -year budget adjustments; and 2) Forward to the Commission for final action. BACKGROUND INFORMATION: Staff has performed a review of expenditures for the six months ended December 31, 2007 and an estimate of expenditures for the remaining six months of the fiscal year ending June 30, 2008. As a result of the review, the following mid -year budget adjustments are proposed. Adjustment 1 - $16,500 The FY 2007/08 budget included the assumption of upgrading the Riverside County Service Authority for Freeway Emergencies (SAFE) call box system to digital technology and installing text -typewriter (TTY) devices. The transition from analog to digital service was delayed as a result of pending litigation that was settled in July 2007. Once the contractor was given authorization to proceed with the upgrade, the contractor encountered problems with the parts supplier and was not able to begin the upgrade until November 2007. As a result, the call box program has incurred additional costs not budgeted due to the continued use of analog service. Adequate SAFE Fund fund balance exists to accommodate this budget adjustment. Adjustment 2 - $105,500 The Regional Programs work efforts related to Trade Corridors Improvement Fund (TGIF) and the Multi -County Goods Movement Environmental Justice Ca[trans Grant requires a budget adjustment to continue to be an active participant in these Agenda Item 7A 1 developments. Staff has identified the need for a $100,000 increase in professional services for TCIF analysis related to goods movement and consultant staff retained for the environmental justice grant, of which $75,000 is identified as a match from other agencies. Additionally, a $5,500 increase for required travel related to the TCIF application and consensus building process is also recommended. Adequate Local Transportation Fund (LTF) fund balance exists to accommodate this budget adjustment. Financial Information In Fiscal Year Budget: No Year: FY 2007/08 Amount: $122,000 Source of Funds: SAFE, LTF Budget Ad ustment: Yes 201 45 81015 $16,500 SAFE 106 67 41203 $75,000 LTF GLA No.: 106 67 65520 $100,000 LTF 106 67 73611 $1, 500 LTF 106 67 73613 $4,000 LTF Fiscal Procedures Approved: \jit€6,44,,vitt Date: 02/15/2008 Agenda Item 7A 2 AGENDA ITEM 7B AGENDA ITEM 7B ADDITIONAL INFORMATION RIVERSIDE COUNTY TRANSPORTATION COMMISSION QUARTERLY BUDGET VS ACTUAL 2ND QUARTER FOR SIX MONTHS ENDED 12/31/2007 DESCRIPTION Revenues Sales tax Federal, state and local government reimbursements Transportation Uniform Mitigation Fee (TUMF) Other revenues Interest Total revenues Expenditures Administration Salaries and benefits General legal services Professional services Office lease and utilities General administrative expenditures Total administration Programs/projects Salaries and benefits General legal services Professional services General projects Engineering Construction Right of way/Land Local streets and roads Regional arterial Commuter assistance LTF and STA distributions Motorist assistance Planning and programming services Right of way management Rail operations and maintenance Specialized transit Total programs/projects Intergovernmental distribution Capital outlay Debt service Principal Interest Cost of issuance Total debt service Total expenditures Excess of revenues over (under) expenditures Other financing sources/uses Operating transfer in Operating transfer out Bond proceeds Total financing sources/uses Net change in fund balances Fund balance July 1, 2007 Fund balance December 31, 2007 BUDGET $ 265,978,600 49,375,700 27,250,000 26,210,900 17,096,700 385,911,900 1,787,401 103,001 1,776,493 390,000 1,256,405 5,313,300 5,802,000 1,474,900 5,127,200 15, 849, 000 66, 963, 505 99,370,000 156, 501,100 61, 959, 500 15,553,600 3,298,300 94, 477,165 4,957,500 4,440,900 299,500 8,404,100 6,171, 200 550,649,470 1,351,600 942,000 32, 012,100 9,933,800 280,000 42,225,900 600,482,270 (214,570,370) 77,940,600 77,940,600 87,000,000 87,000,000 (127,570,370) 466,881,300 ACTUAL $ 76,919,465 2,665,434 5,297,791 2,569,864 7,490,104 94,942,658 962,546 33,889 642,388 202,308 549,721 2,390,852 1,963, 288 476,693 508,783 901,057 4,357,804 15,453,110 48,628,122 14,100,989 6,849,021 1,221,081 35,221,952 1,040,917 333,511 5,135 4,009,751 2,310,494 137, 381, 708 27,526 3,319,783 3,319,783 143,119, 869 REMAINING PERCENT BALANCE UTILIZATION $ (189,059,135) (46,710,266) (21,952,209) (23,641,036) (9,606,596) (290,969,242) 824,855 69,112 1,134,105 187,692 706,684 2,922,449 3,838,712 998,207 4,618,417 14,947,943 62,605,701 83,916,890 107,872,978 47,858,511 8,704,579 2,077,219 59,255,213 3,916,583 4,107, 389 294,365 4,394,349 3,860,706 413, 267, 761 1,351,600 914,474 32, 012,100 6,614,017 280,000 38,906,117 457,362,401 29% 5% 19% 10% 44% 25% 54% 33% 36% 52% 44% 45% 34% 32% 10% 6% 7% 16% 31% 23% 44% 37% 37% 21% 8% 2% 48% 37% 25% 0% 3% 0% 33% 0% 8% 24% (48,177,211) 166,393,159 17,888,405 17,888,405 30,000,000 30,000,000 (18,177,211) 550,160,613 (60, 052,195) 60, 052,195 (57,000,000) (57,000,000) 109, 393,159 83,279,313 -22% 23°/o 23% 34% 34% 14% 118% $ 339,310,930 $ 531,983,402 $ 192,672,472 157% • RIVERS/DE COUNTY TRANSPORTATION COMMISSION DATE: February 25, 2008 TO: Budget and Implementation Committee FROM: Michele Cisneros, Accounting and Human Resources Manager THROUGH: Theresia Trevino, Chief Financial Officer SUBJECT: Quarterly Financial Statements STAFF RECOMMENDATION: This item is for the Committee to: 1) Receive and file the Quarterly Financial Statements for the period ended December 31, 2007; and 2) Forward to the Commission for final action. BACKGROUND INFORMATION: During the last six months of the fiscal year, staff has monitored the revenues and expenditures of the Commission. The attached financial statements present the revenues and expenditures for the first six months of the fiscal year. Period closing accrual adjustments are not included for revenues earned but not billed and expenditures incurred for goods and services received but not yet invoiced, as such adjustments are normally made during the year end closing activities. The operating statement shows the sales tax revenues for the second quarter at 29% of the budget. This is a result of the Governmental Accounting Standards Board (GASB) Statement No. 33. GASB 33 requires sales tax revenue to be accrued for the period in which it is collected at the point of sale. The State Board of Equalization collects the Measure A funds and remits them to the Commission after the reporting period for the businesses. This creates a two -month lag in the receipt of revenues by the Commission. Accordingly, these financial statements reflect the revenues related to collections through September 2007. On a cash basis, the Measure A and Local Transportation Fund (LTF) sales tax revenues are 8.5% and 5.5% lower, respectively, than the same period last fiscal year. Receipts continued to decrease through January 2008, due to effects of the softening in the housing market. On February 13, 2008, the Commission approved the FY 2007/08 mid -year revenue projections. The downward trend of sales tax revenues prompted staff to submit budget adjustments reflecting a $30.6 million and $10.84 million decrease in FY 2007/08 Measure A and LTF revenues, Agenda Item 7B 3 respectively. These adjustments to budgeted revenues are not included in the attached December 31, 2007 financial statements. Federal, state, and local government reimbursements and other revenues are on a reimbursement basis, and the Commission will receive these revenues as the projects are completed and invoiced to the respective agencies. The Transportation Uniform Mitigation Fee (TUMF) revenues remitted to the Commission by Western Riverside Council of Governments (WRCOG) reflect receipts through November 2007. TUMF revenues have declined 63.6% for the six months ended December 31, 2007. The housing crisis has had a significant impact on the Inland Empire's local economy. As a result of the decreasing revenue trend, the Commission approved on February 13, 2008, a budget adjustment reflecting a $17.25 million decrease in TUMF revenues for FY 2007/08. This budget adjustment is not included in the attached December 31, 2007 financial statements. Other revenues include the first quarter State Transit Assistance (STA) revenues remitted to the Commission. In October 2007, staff received from the state a revision of the STA revenue allocation estimates, which reflected a decrease of approximately $13.5 million. This is a result of the exclusion of Proposition 1 B transit allocations that were included in the state's original estimate. On February 13, 2008, the Commission approved a budget adjustment to reflect a decrease in FY 2007/08 revenues of $13,488,900. This budget adjustment is not included in the attached December 31, 2007 financial statements. Staff is addressing the impact of revised revenue allocation estimates to local governments and transit operators. Staff will diligently continue to monitor the FY 2007/08 revenues and will update the Commission if additional adjustments are needed. The expenditure categories are in line overall with the expectations of the budget. Administrative salaries and benefits are slightly over 50% for the six-month period due to temporary, nonrecurring staffing charges. Staff expects this category to be in line at the end of the third quarter. Office lease and utilities are slightly over as a result of the rent payment due by the 1' of each month. The January rent was paid on December 20, 2007. Agenda Item 7B 4 • Listed below are the significant capital related projects and their status: Highway Engineering/Construction/Right-of-Way/Land • State Route 60 East Junction to Interstate 215 high occupancy vehicle lanes connector - Engineering was delayed as a result of pending decisions on the scope of the project. The scope of project has increased and a contract amendment is being prepared for Commission action. • SR-74 Curve Realignment - Engineering is pending due to possible integration of future realignment of the SR-79 project. • 1-215 Bi-County Project - Engineering was delayed due to pending decision on traffic and scoping. Preliminary assessment of the required scope of work has been identified and a meeting is scheduled with San Bernardino Associated Governments (SANBAG) in mid February. • SR-91 Van Buren Interchange - The city of Riverside is the lead agency on this project and experienced delays related to environmental issues. The environmental issues have been resolved and the city has begun the acquisition process. Construction is forecasted to start in FY 2008/09. • SR-91 HOV Lanes between Adams Street and 7' Street - Right-of-way acquisition activities were delayed due to the approval of the environmental document. The environmental document was approved in August 2007, and Ca!trans has begun the final design phase. The Commission will support the right-of-way acquisition activities that started in the second quarter. • SR-79 Realignment - Engineering was delayed due to requests from various cities and residents in the area to study a new avoidance alternative alignment. An additional amendment to the contract was required that, resulted in the need for a pre -award audit prior to the issuance of a notice to proceed. The studies for the new alignments required additional engineering time to complete. • SR-74/G Street to 1-215 - Preliminary engineering and environmental phase work is pending the completion of a traffic study and preparation of the modified access report. Final design is scheduled to proceed in the fourth quarter of FY 2007/08 after federal concurrence is received. • SR-91 HOT and Mixed Flow Lanes - Invoice submittal by consultant was delayed due to establishing an acceptable invoicing format between the consultant and the Commission. Agenda Item 713 5 • SR-91 /SR-71 Connectors - Preliminary engineering is pending completion of a pre -award audit. Notice to proceed is scheduled for mid February 2008. • 1-15 HOT Lanes/SR-91 to SR-74 - Contract negotiations are complete and the Commission approved the agreement at the February 2008 Commission meeting. A notice to proceed is anticipated to be released in April 2008 after the completion of a pre -award audit. Rail Engineering/Construction/Right-of-Way/Land • Perris Multimodal Facility - Surveys are being performed to determine the need and location of the temporary construction easements. Completion of the final design and securing final permits is scheduled for March 2008. • Perris Valley Line - The start date was delayed by six months, as approval to start preliminary engineering was received by the Federal Transportation Administration on. December 13, 2007. Staff subsequently issued to the consultant a notice to proceed. • North Main Corona Parking Structure - State and federal funding was approved in July 2007 and construction commenced in January 2008. TUMF Engineering/Construction/Right-of-Way/Land • SR-91 Green River Interchange - Construction was delayed until the second quarter of FY 2007/08 due to securing full project funding. Local streets and roads expenditures reflect allocation payments made for the revenues received through September as noted above. The downward trend in Measure A revenues directly affects these expenditures and Commission staff will notify the local jurisdictions. Intergovernmental distributions are expended as one-time LTF payments; however, claims submitted by the Coachella Valley Association of Governments and Western Riverside Council of Governments were approved by the Commission in January 2008 and February 2008, respectively. Capital outlay expenditures are under budget due to unexpended authority for potential office improvements, if any, and station improvements. Staff expects these improvements to take place in the fourth quarter of FY 2007/08. Agenda Item 7B 6 • • Debt service interest expenditures are made in December and June, while principal payments are made in June. Staff will continue to monitor the revenues and expenditures and notify the Commission of any unusual events. Attachment: Quarterly Financial Statements - December 2007 Agenda Item 7B 7 • DESCRIPTION RIVERSIDE COUNTY T T7SPORTATION COMMISSION QUARTERLY ACTUALS BY FUND 2ND QUARTER- -- - FOR SIX MONTHS ENDED 12/31/2007 MEASURE TRANSPORTATION PALO LOCAL STATE UNIFORM WESTERN COMMERICAL GENERAL FSP/ WESTERN VERDE COACHELLA TRANSPORTATION TRANSIT MITIGATION FEE COUNTY PAPER DEBT COMBINED FUND SAFE COUNTY VALLEY VALLEY FUND ASSISTANCE (TUMF) CONSTRUCTION PROGRAM SERVICE TOTAL Revenues Salss tax $ 8,699,472 $ - $ 33,879,983 $ 310,098 $ 11,301,302 $ 22,719,700 $ $ - $ - $ - $ - $ 76.819,465 Federal. state anq local government reimbursements 182,257 1,220,109 308,816 - - 129,574 - 824,678 - 2,666,434 Transportation Uniform Mitigation Fee (TUMF) - - 7,830 - - 5,289,961 - - - 5.297,791 Other revenues 262,112 5 34,450 - 75,647 • 2,197,650 - - - - 2,569,864 Interest 155,124 92,939 2,604.569 3.080 165,613 912,455 310,618 1,864,519 1,953 404,037 975,197 7,490,104 Total revenues 9.298,965 1.313.053 36,835.648 322.088 11,542,562 23.632,155 2.508.268 7,284,054 1,953 1,228,715 975,197 94,942,658 Expenditures Administration Salaries and benefits 910,513 52,033 - - - - - 962,546 General legal services 32,252 1,637 - - - - - 33,889 Professional services 431,715 20,770 - - - 189,903 - 642,388 Office lease and utilities 192,537 9.771 - - - - 202.308 General administrative expenditures 521171 26,550 - - - - 549,721 Total adminlatratlon 2,090,188 110,761 189,903 2,390,852 Programalplojects Salaries and benefits 1,081,391 46,724 676,815 17 8,805 - 151,536 - - 1,963,288 General legal services 117,507 5,278 247,710 868 - - 104,339 991 - 476.693 Professional serocas 263,832 5,555 194,635 - - 196 115 - 44,450 508,783 General projects - 877,732 - 2,018 - 21,307 - - 901.057 Engineering - • 455,720 126,213 - - 3,718,652 - 57,219 4,357,804 Construction - 7,782,670 1.000,000 - 9.041,047 (2,370,607) 15,453,110 Right of way/Land 8,088 - 293.998 - - - 25,394,637 - 21,930.398 48,628,122 Local streets and roads - 10,753,617 249,818 3,097,554 - - - 14,100,989 Regional anenal - 5,426,208 - 463,910 - 958.903 6,849,021 Commuter assistance - 1,221,081 - - - - 1,221,081 LTF and STA distributions - - - - 34,673,657 548,295 - 35,221,852 Motorist assistance 1,040,917 - 1.040,917 Planning and programming services 333,511 - - - - 333;511 Right of way management 5,135 5,135 Rail operations and malntenance 4,009.751 4,009,751 Specialized frame - B34158 1,376,336 2,310,a94 Total programs/projects 5,820,216 1,098.474 J� 4J8138 249,835 11,038,002 34,673,657 548,491 39,895,543 20,621,354 137,381,708 Inlergovernmental distribution - Capitaloutlay (13,193) (670) 41,389 Debt service Pdncipal Interest Cost of Issuance Total debt service 1.515723 27,526 1,804,060 3,319.783 Total expenditures 7,897.211 1 208,564 23,479,525 249,835 11,036.002 34,573,657 548,491 39,895.543 Excess revenues over (under) expenditures 1,401,752 104,488 13,356.124 72,253 506,561 (11,041,502) 1.959776 (32,611,488) 1,953 (21,088,267) (828,863) (48.177,211) Other financing sources/uses Operating transfer in 250,000 490,000 73,519 - Operating transfer out 490,000 13,375,966 - 3,948,920 Bond proceeds - - - - Total financing sources/uses 250,000 (13,302,447) (3,948,920) Net change In fund balances 1,651,754 104.489 53.676 72.253 (3,442,360) (11.041,502) 1,959,776 (32,611,489) 1,953 8,901,734 16,172.505 (18,177,211) Fund balance July 1, 2007 9,948,038 5,905,839 193.956,853 60,394 15,483,231 83,767,112 21,538,210 159.336,112 112,207 28,797,558 31,255.059 550,160,613 Fund balance December 31, 2007 $ 11,599,792 $ 6D10,328 $ 194,010,529 $ 132.647 $ 12.040.871 $ 72,725,610 $ 23,497.986 $ 128,724,823 $ 114,160 $ 37,699,292 247,427,564 $ 531,983.402 1,515.723 1,804,060 3,319.783 22.326,981 1.804.060 143.119,869 - 17,074.886 17,888,405 73,519 17,888,405 30,000,000 - 30.000,000 30,000,000 17.001,368 30,000,000 AGENDA ITEM 7C I • • RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: February 25, 2008 TO: Budget and Implementation Committee FROM: Michele Cisneros, Accounting and Human Resources Manager THROUGH: Theresia Trevino, Chief Financial Officer SUBJECT: Single Signature Authority Report STAFF RECOMMENDATION.. This item is for the Committee to: 1) Receive and file the Single Signature Authority Report for the second quarter ended December 31, 2007; and 2) Forward to the Commission for final action. BACKGROUND INFORMATION: The attached report details all professional services and administrative contracts that have been executed for the second quarter ended December 31, 2007 under the Single Signature Authority granted to the Executive Director by the Commission. The unused capacity at December 31, 2007 is $478,000. Attachment: Single Signature Authority Report as of December 31, 2007. Agenda Item 7C 9 CONSULTANT SINGLE SIGNAOE AUTHORITY AS OF DECEMBER 31, 2007 • ORIGINAL CONTRACT REMAINING DESCRIPTION OF SERVICES AMOUNT PAID AMOUNT CONTRACT AMOUNT AMOUNT AVAILABLE July 1, 2007 $500,000.00 McCormick -Busse, Inc. Agreement for Video Services with McCormick- 22,000.00 Busse, Inc. AMOUNT USED 22,000.00 Less return of remaining contract value due to expiration: AMOUNT USED, net of adjustments 0.00 AMOUNT REMAINING through June 30, 2008 8478,000.00 Tows Reabroi•DeMorst Michele Cisneros Prepared by Reviewed by Note: Shaded area represents new contracts listed In the second quarter. 10 21,959.48 40.52 21,959,48 40.52 • AGENDA ITEM 7D RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: February 25, 2008 TO: Budget and Implementation Committee FROM: Anne Hallberg, Accounting Supervisor THROUGH: Theresia Trevino, Chief Financial Officer SUBJECT: Quarterly Investment Report STAFF RECOMMENDATION: This item is for the Committee to: 1) Receive and file the Quarterly Investment Report for the quarter ended December 31, 2007; and 2) Forward to the Commission for final action. BACKGROUND INFORMATION: Attached are the quarterly investment and cash flow reports as required by state law and Commission policy. The county of Riverside's Investment Report for the month ended December 31, 2007, is also attached for review. Attachments: 1) Quarterly Investment Report for the Quarter ended December 31, 2007 2) County of Riverside Investment Report for the Month ended December 31, 2007 Agenda Item 7D 11 • Natera of Investments Bend Projacts 0.01% � 00E09 00 Funds 11.66%— 0e'1 Reserve .OJ% Statement of Compliance All of the above investments and any investment decisions made for the quarter ended December 31, 2007 were in full compliance with the Commission's investment policy as adopted on April 11, 2007. The Commission has adequate cash flows for six months of operations. Signed by Chief Financial Officer 12 ® • Riverside County Transportation Commission Investment Portfolio Report Period Ended: December 2007 OPERATING FUNDS RATING COUPON PAR PURCHASE MATURITY YIELD TO PURCHASE MARKET UNREALIZED GAIN FAIR VALUE MOODYS/FITCH S&P RATE VALUE DATE DATE MATURITY COST VALUE (LOSS) City National Bank Deposits 22,455 A3/BBe+ N/A N/A County Treasurers Pooled Investment Fund 364,717,249 Aaa/MR1/AAAN+1 N/A 4.92% Local Agency Investment Fund (LAIF) 3,374804 Not Rated N/A NIA Agency/Treasury Securities; Money Market Mutual Funds -CNI Charter 3,680,531 AAA/AAA N/A 3,680,831 N/A N/A 3,90% 3,680,831 3.680.831 FHLB Note-noncallable 24300,620 AAA/AAA 4.850% 2,000,000 02/06/06 02/06/08 4,80% 2,000,000 2,000,620 620 RABOBANK Negotiable CD 4,000.000 P1/F1/A1+ 5.310% 4,000,000 C2/15/07 02/15/08 531% 4,000,000 4,000,000 - SubtolalOperating Funds 377,7'95.959 $ 9,680,831 $ 9,680,831 $ 9,681,451 S 620 FUNDS HELD IN TRUST County Treasurers Pooled Investment Fund: Local Transportation Fund 72,805,448 Aaa-MR1/AAAN+1 N/A 4,92% Subtotal Funds Held In Trust COMMISSION BOND PROJECT FUNDS/DEBT RESERVE First American Treasury Obligatbne Fund Investment Agreements First American Government Obligation Fund First American Treasury Obligation Fund • Held In Trust Subtotal Bond Project Funds/Debt Reserve TOTAL All Cash end Investments 72,805,448 24,943,648 Aaa/AAAm N/A 15,721,988 N/A 6,000% $ 15,926,000 05/24/05 05/22108 3,29% $ 15.928,000 $ 15,721,988 3 (204,012) 27.231,771 Aaa/AAAm N/A Ada/AAAm N/A 67,897,406 S 518,498,1113 Investment Transactions for the Quarter Ended December 31, 2007 Purchases: None Maturities: Par Value at Maturity Maturity Data Coupon Rate Federal National Mortgage Association(FNMA)Note-callable 2,250,000 11/09/07 4.75% General Electric Capital Corp Med Term Note-noncallable 1,000,000 12/10/D7 6.50% US Treasury Note-noncallable 2.000,000 12/31/07 4.4D% PorB01io 13 SUMMARIZED INVESTMENT TYPE Banks 22,455 County Pool 437,522,697 LAIF 3,374,804 Mutual Funds: CNI Charter First American Treasury Obligations Fund -Trust First American Govemment Obligation Fund Sub - Total Mutual Funds 3.680.631 24,943,648 27,231,771 55,856.249 Federal Agency securities 2,000,620 Certificates of Deposit 4,000,000 U.S. Treasury securities Corporate Note/Commercial Paper - InveslmentAgreements 15,721,988 TOTAL S 518,498,813 (1) Investment with cities is reported ae a loan receivable for linen eial reporting purposes,. 2/20120089'31 AM 27•Dec Durable Goods Orders (0.1% actual vs. 2% survey) 27-Dec Consumer Confidence (86,5 actual vs.88, 6 survey) D4-Jan Unemployment Situation Rate (5% actual vs, 4,8% survey) Payroll change(18000 actual vs.70000 survey) "Am 1 In or Going Stag?" Inflation, stag- flation or recession. Where are we headed? This is the million dollar question. You don't have to be a financial guru to see that prices of energy and other commodities, as evidenced by the CRB (Commodity Research Bureau) Index, continue their record climb. These prices are rising as emerging economies, such as China and India, are gobbling up resources ati an increasing rate, despite the fact that U.S. demand has slowed primarily due to the aftermath of the real estate meltdown. With unemployment trending higher and manu- facturing lower, the storm cloud closest to our operation is the slow down in the housing market; new home sales fell another 9% in November marking an over 50% drop since prices peaked two and a half years ago. History shows us that all of the past recessions have taken place during, or right after, a housing correction. Here is the onion, we have both sluggish eco- nomic growth coupled with a higher level of inflation than the FED is comfortable with, and, rising unemployment. In other words, we now have the ingredients for stagflation. The real problem is that, it will be difficult for the central bank to defeat if it rears its ugly head as the FED really does not possess the weaponry necessary in its monetary policy arsenal. The FOMC cut both the fed funds and discount rates on December 11'h by another 25 bps. to 4.25% and 4.75% respectively. At this juncture, we expect further cuts of 50 bps. on January 30'h. The FED is truly stuck between a rock and a hard place as it was the excess liquidity of the past that has contributed to our present economic condi- tion. Stay tuned. „tc Paul McDonnell Treasurer -Tax Collector li Etic( Market Pulof ihaiur:�' €'aGalra ar Faker Gain or Ltiss ($) Lass (%) 12, 967, 735.13 Ciootc )(Ie(lJ Yl to tl i f i November 515,016,644,039.96 5,003,676,304.83 .�� September id 4,739,726,202.02 4,730,815,295.98 P 8,910,906.04 0.26°/0 4.99 0.19% 5.23 0.90 0.91 0.84 0.84 July 4,762,169,767.44 4,766,207,466.04 (4,037,698.60) -0.08% 5.17 1.13 1.04 *Market values do not include accrued interest 14 The FOMC decided on December 11 to cut the federal funds rate 25 basis points to 4.25%. The 2 year T-Note was yielding 3,05% (up 1bp.) while the 10 year T-Note was yielding 4.04 (up 7 bps.) For November the Pool had a de- crease of 7bps, In the average monthly yield, 3Mo US TreasuryBill 3.36 0.21 6Mo US TreasuryBill 3.49 0.12 2 Yr 03 Treasury. Note 3.05 0.01 5 Yr US Treasury Note '0 Yr US TreasuryNote FED Fund Rate 3.45 0.04 4,04 0,07 4.25 (0.25) Rude oil (barrel) - 95,§8 717 Gold Ounce 836.70 42.35 DJl4 S&P 500 NASDAQ. 13,264.80 . (106.90) 1,468,36 (12.78) 4682.26 (a:88) page 1 • Sector breakdown rJi.irt,,et V aI1!C U`VAM 8unh V ie!i Cash Equlvalent &MMF Negotiable CDs M unlclpalBonds 41-1. Local Agency Obligation 719.000.000 510,000,780 72,881,571 6,760,000 o.ce 0,14 1.33 1.72 4,51 5.02 4'.87 4.9 TOTAL 5,936,074,512 0.77 4.82 Federal Agency 47 r. Maturity Distribution 50% 40% 30% 20% 10% 0% 30 clays or 30 - 90 90 Days - 1 - 2 Years 2 - 3 Years Less Days 1 Year Over 3 Years Cash Flows= 05/2008 609.0 1,367.9 (758.9) 140.8 0.0 197.7 07/2008 762,8 951.9 (189.1) 189.1 0,0 62.0- 09/2008 655.7 832.5 (176.8) 47.9 0.0 10.0 11/2008 894.6 706,4 188.2 188.2 135.2 T111'N 5 111 357_4 1 .359 22 o v... 1,177 4 7 77_06 4i, 15 • r Treasurer's Insnmtlonal Money Market Index (TIMMIJ is compiled and reported by the Riverside County Treas- urer's Capital Markets division. 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SAVO 09 11 All ON V/N V/N %0Z SbV3A S SAVO Z6 S11SO 4:130 NNVS 0321n03S ONnd W2131180HS1Sn2i11e0 SO dab 3S83A3b ke %6S9 ' XVW%9Z i1 V3A1. %OE SaV3A 9 S11S0d30 3 1A1I1431VOId11 13O °/dl'0 %ZZl LdAdAV SAVO 0& 30Vb0 %05Z SbV3AE 1N3 W 1S3ANI V/ZV/V WWOS$PAGt %0!101110d• S,A00001/d8S appan!a lenluy itp!end 1011 % paz!/0ylny Sb V3AE Apt ntew . . wnwimAi 0%OP SAVO Oa 11 Wll ON SiIV3A9 V/ZV/V 11W110N s,ApooW Ares Alpena .. pw!l % . pazu041nb' S21V3A 9 Alu nle W ulnw!xelN -::x;=max 30NVHOX3 dO S1119 SN011 V01190 AON30 V 1 V001 A1oVole3 lualulsanul SON09 AON30V VO •szosinzadns 3o pzeog kiuno3 alp Xq panozd& pue aawurtuop 1112iszanp ivautisanui sAunoo aiii fig iiunuuv pamatnaz st Xotiod sttii •apop Iuaunuanop znuoltiep alp uetp anuotzisaz azout st Xotiod ivaugsanui sAunoa atiZ •Aotiod ivaunsanui Jo ivaularels s zazns�azZ aui uiTm aDNIN 'IdWOD ut stm pund mautisanui paiood s,zaznSeazs, auZ £Z ai o •.ua.znsB a zlAluno a •mmm sn•eo•apisJanTroo@sm..teu mIduo SOZZ-ZOSZ6 VD `apisioAru slaved reTIdeD -.zooid tilt `Pa% uouza7 080tb JaluaD ongtilsiutuzpy li.unoo • AGENDA ITEM 8 • RIVERS/DE COUNTY TRANSPORTATION COMM/SS/ON DATE: February 25, 2008 TO: Budget and Implementation Committee FROM: Theresia Trevino, Chief Financial Officer THROUGH: John Standiford, Deputy Executive Director SUBJECT: Proposed Policy Goals and Objectives for Fiscal Year 2008/09 Budget STAFF RECOMMENDATION: This item is for the Committee to: 1) Approve the proposed Commission Policy Goals and Objectives for the FY 2008/09 Budget; and 2) Forward to the Commission for final action. BACKGROUND INFORMATION: The initial step in the budget process is to develop policy goals and objectives for the next fiscal year that are consistent with the Commission's overall strategic direction. The goals and objectives for FY 2008/09 reflect the continuation of the transition planning efforts related to the completion of the 1989 Measure A and commencement of the 2009 Measure A projects. Most importantly, the adoption of the Budget Goals and Objectives provides an opportunity to match the Commission's spending priorities in a manner that implements the promises made to the citizens of the county of Riverside in both Measure A Expenditure Plans. Using the Commission's guiding principles, staff has updated the attached Goals and Objectives for the FY 2008/09 Budget. Attachments: 1) Proposed Goals and Objectives for FY 2008/09 Budget 2) Presentation of Budget Policy Goals Agenda Item 8 24 • • Commission Policy Goals and Objectives The following material outlines the Commission's adopted policy goals, objectives and financial policies that serve as the framework for the work plan presented in the FY 2008/09 Budget. Promote Mobility The Commission, in cooperation with local, state, and federal agencies, will strive to create a transportation system that promotes efficient mobility both within the County and regionally. While Riverside County grapples with the challenges of a declining real estate market and an uncertain economy, the need for better mobility and transportation remains a top public policy priority that the Commission is poised to address. The 10-Year Western County Highway Delivery Plan, approved in December 2006, will become more prominent this year as environmental work moves into high gear on SR-91, 1-15 and 1-215. The Commission will also work with partners including Metrolink, CVAG, and WRCOG to deliver transit services, improve highways and arterials in the Coachella Valley, and ensure investment of TUMF dollars in Western County. In moving forward with this aggressive program of projects and services, the Commission will face the challenge of lower Measure A and declining state transportation revenues along with uncertainty regarding the availability of federal dollars. The following are emphasis areas for the Commission in FY 2008/09: • Complete projects and programs included in the 1989 Measure A and determine use for unexpended revenues. • Aggressively implement the environmental process on key components of the 10- Year Western County Highway Delivery Plan which includes the widening of SR- 91, 1-15 & 1-215. • Develop the toll program consistent with the 10-Year Western County Highway Delivery Plan including obtaining state and federal toll authority for select projects. • Seek to obtain state legislative authority to utilize the design -build method of project delivery to advance project delivery schedules. • Continue to work with state and federal agencies to program and construct projects in the STIP, Proposition 1 B bond programs, the Measure A program, and other high priority projects. • Maximize the effective application and use of Western County TUMF funds to deliver eligible Commission priority projects. • Work closely with local jurisdictions to implement the FY 2007-2009 TUMF Regional Arterial Program and facilitate the delivery of arterial improvements in Western County. • Circulate the project level environmental document for the Mid County Parkway and receive the Record of Decision by the end of the 2008 calendar year. 25 • Circulate the draft project level environmental document for the SR-79 realignment project. • Evaluate the results of geotechnical field exploration, testing services, and technical evaluation for the proposed Irvine -Corona Expressway, a CETAP corridor. • Actively participate in the SR-91 Advisory Committee and Riverside Orange Corridor Authority to facilitate near and long-term improvements to SR-91; enhance intercounty public transit options and foster the development of a new corridor between the two counties. • Advocate streamlining efforts at the state and federal levels to facilitate timely project reviews and approvals. • Coordinate and provide public access to commuter information to foster the use of alternate modes of transportation such as ridematching for car/vanpooling, transit through the provision of a regional trip planner, and real-time traffic information for congestion avoidance. • Continue cooperation with the FTA regarding the Small Starts process to support the initiation of the Perris Valley Line commuter rail service by 2011, which has now been included for $50 million in the President's FY 2008/09 federal budget. • Continue to develop a vision of transit service for Riverside County. Mitigate and Address the Impact of 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 local agency concurrence to 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. • Remain committed to a regional approach regarding goods movement issues in order to maximize funding from state and federal sources to goods movement needs in Southem California. • Work closely with Ca!trans, SANBAG, Ventura County Transportation Commission, and the Los Angeles County Metropolitan Transportation Authority to conduct an environmental justice analysis and community outreach to supplement the Multi - County Goods Movement Action Plan. Ensure Improved System Efficiencies 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. 26 • • 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. • Support the deployment of a SCAG region 511 system that will 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. Foster Environmental Stewardship The Commission will achieve its mobility goals while promoting environmental stewardship and protecting the area's natural resources and quality of life. • Continue working with the RCA to implement the MSHCP and to assist in the assembly of the reserve system, with a goal to utilize the Measure A commitment to the MSHCP as much as possible prior to the beginning of the 2009 Measure A program. • Work with SCAG, the South Coast Air Quality ManagementDistrict (SCAQMD), sub -regional agencies, and local jurisdictions to implement an RTP that meets regional air quality goals and conformity guidelines. • Support outreach and educational programs that promote the benefits of ridesharing, transit, rail, and availability of help through www.CommuteSmart.info, 1-800-COMMUTE, and 511.. • Facilitate private/public use of clean fuels technology. • Consider and address new state mandates regarding greenhouse gas emissions as part of long-range and transportation planning. This will require a close working relationship with regional, local, state, and federal agencies. Support Transportation Choices through 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 and the Commission's innovative Transportation Reimbursement and Information Project program 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 27 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. • Pursue the goals and objectives as outlined in the Public Transit -Human Services Transportation Coordination Plan for Riverside County related to a unified, comprehensive strategy for transportation service delivery focused on unmet transportation needs of elderly individuals, persons with disabilities, and individuals of low income. Prioritize 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. • Promote a close working relationship with news and civic entities to increase interest in and understanding of transportation and related issues. • Enhance the provision of public information through various forms of communication (e.g., website, television, Speakers Bureau, print media, radio, etc). • Maintain an ongoing effort of informing Riverside County's Congressional and State Legislative delegations regarding County transportation issues. • Develop an effective long-range legislative strategy regarding the upcoming reauthorization of SAFETEA-LU to ensure that the federal government participates as a full partner in funding Riverside County projects that are of national and regional significance. 28 • Financial and Administration Policies Budget Policies • The Commission shall budget no more than one percent (1 %) of Measure A sales tax revenue for administrative salaries and benefits. • Administrative program delivery costs will be budgeted at whatever is reasonable and necessary, but not to exceed four percent (4%) of Measure A sales tax revenues (inclusive of the one -percent salary limitation). • Amounts will be budgeted by fiscal year for multi -year projects based on best available estimates with the understanding that, to the extent actuals vary from those estimates and the project is ongoing, adjustments will be made on an ongoing basis. • The fiscal capital budget should be consistent with the strategic plan and deviations appropriately noted, explained, and justified. • A balanced budget shall be adopted annually with operating and capital expenditures and other financing uses funded by identified revenues and other financing sources as well as available fund balances. Revenue Policies • Sales tax revenue projections will be revised semi-annually to ensure use of current and relevant data. Staff may adjust annual amounts to reflect the most current economic trends. • A strategic application of local funding sources will be used to maximize federal and state funding of projects. • Fiduciary responsibility regarding Western County TUMF revenues shall be exercised, and revenues will be allocated pursuant to Commission direction and the approved 2009 Measure A. Debt Management Policies • The Commission will maintain 2.0x debt ratio coverage on all senior debt. • Debt issuance will be for major capital projects including engineering, construction, and right of way. Operating requirements must be from current ongoing revenues. • Costs of issuance including the standard underwriter's discount will not exceed two percent (2%). • The Commission may enter into interest rate swaps to better manage assets and liabilities and take advantage of market conditions to lower overall costs and reduce interest rate risk. • While it is the intent of the Commission to establish a cash debt reserve for long term bond issuance, surety bonds can be obtained when beneficial to the Commission. • The commercial paper program and other short-term financing vehicles will provide advance funding for projects included in the expenditure plan of the approved 2009 29 Measure A. • The Commission will consider actions to lessen the restriction of the $500 million 2009 Measure A bonding cap, which could include the possibility of a future ballot measure to increase the cap. Auditing, Accounting, and Financial Reporting Policies • The Commission will issue a Comprehensive Annual Financial Report (CAFR) in accordance with the GASB Statement 34 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 maintained to identify improvements in controls and procedures as well as best practices, Capital Planning and Programming Policies • Established priorities will be reviewed annually with the Commission. Reserve Policies • The Commission will maintain program reserves in accordance with Measure A and TDA policies and guidelines. • 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_ 30 • • Human Resources Management Policies • Commission staffing levels will be consistent with the intent of its enabling legislation, which envisioned a small, but effective staff. • Contract staff and 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. Information Technology Policies • Significant effort will be made to maintain efficient and cost-effective technology infrastructure by continuously upgrading network equipment and software to ensure quality performance, productivity, and connectivity among staff, other agencies, and the public. Network security will continue to be a top priority to maintain the integrity of the Commission's network and information. 31 Promote Mobility Mitigate and Address the Impact of Goods Movement Foster Environmental Stewardship Support Transportation Choices through Intermodalism and Accessibility • Prioritize Public and Agency Communications • Encourage Economic Development Goods Movement • Remain committed to regional approach • Work closely with other agencies regarding environmental justice analysis and MCGMAP outreach 32 Goals and Objectives • Sets stage for budget discussion in May • Establishes strategic direction • Articulates upcoming goals • Incorporated in approved budget • Complete the 1989 Measure A programs • Implement environmental process on key delivery plan projects • Obtain toll and design -build authority • Circulate draft SR-79 environmental document • Include ROCA participation regarding SR-91 improvements Environmental Stewardshi • Consider greenhouse gas emissions mandates 1 Economic Development • Section was deleted as this is not one of the Commission's primary responsibilfties — Commission will continue to support economic development through interaction with local agencies Communications • Develop strategy for reauthorization of SAFETEA-LU Next Steps • April 28 —B&I Committee review of executive summary for proposed budget • May 14—Open public hearing for proposed budget • June 11 —Commission adoption of final budget 33 Transportation Choices • Promote TRIP program • Pursue goals and objectives of Public Transit -Human Services Transportation Coordination Plan Minor changes to indicate new stage of implementation related to programs and projects Revised target dates for certain project activities Included use of other short-term financing vehicles for 2009 Measure A projects as part of debt management policies 2 AGENDA ITEM 9 RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: February 25, 2008 TO: Budget and Implementation Committee FROM: Michele Cisneros, Accounting and Human Resources Manager THROUGH: Theresia Trevino, Chief Financial Officer SUBJECT: Agreements to McGladrey and Pullen, LLP and Mayer Hoffman McCann P.C. for Audit Services for the Commission and for the Measure A Recipients/Transportation Development Act Claimants STAFF RECOMMENDATION: This item is for the Committee to: 1) Award Agreement No. 08-19-075-00 to McGladrey and Pullen, LLP to perform audit services related to the Commission for the amount of $363,950, plus a contingency amount of $36,050 for additional services that may be required in connection with debt offerings and other transactions, for a total award of $400,000; 2) Award Agreement No. 08-19-074-00 to Mayer Hoffman McCann P.C. to perform audit services related to the Commission's Measure A recipients/Transportation Development Act (TDA) claimants for the amount of $589,218, plus a contingency amount of $50,782 for additional services that may be required due to additional recipients or claimants to be audited, for a total award of $640,000; 3) Authorize the Chair, pursuant to legal counsel review, to execute the agreements on behalf of the Commission; and 4) Forward to the Commission for final action. BACKGROUND INFORMATION: The Commission's last request for proposal (RFP) for audit services was issued on January 22, 2003. The Commission approved the selection of McGladrey and Pullen, LLP to perform audit services for the Commission and Caporicci and Larson to perform the audit services for the Measure A recipients/TDA claimants. The term limits on the five-year contract for McGladrey and Pullen, LLP and Caporicci and Larson expired with the conclusion of the FY 2006/07 audits. On January 9, 2008, the Commission's Audit Ad Hoc Committee met with the Commission's current auditor, McGladrey and Pullen, LLP to review the audit results for FY 2006/07. At that time, the Audit Ad Hoc Committee was informed Agenda Item 9 34 by staff that the FY 2006/07 was the last engagement under the contract for McGladrey and Pullen, LLP and that the Commission would be releasing an RFP for audit services. During the discussion of required communications to the Audit Ad Hoc Committee, McGladrey and Pullen, LLP identified new auditing standards that would be effective for the FY 2007/08 audit. These new auditing standards known as "Risk Assessment Standards" require the auditors to obtain a more robust understanding of their clients' operations, business objectives, and processes for identifying and managing the risks inherent in achieving those objectives. The standards require that auditors develop a deeper understanding of their clients' internal controls and perform more thorough assessments of the risks of material misstatements of financial statements. On December 5, 2007, the Commission released two RFPs for audits services: the Commission and the Measure A/TDA. The RFPs were distributed by mail to 24 audit firms and was posted on the Commission's website. The Calendar of Events was as follows: Calendar of Events Distribution of RFP Proposals were Delivered to the Commission by 2 p.m. Evaluation Committee's Review of Proposals Interview of Firms Staff Recommendation to Committee Staff Recommendation to Commission Selection Process December 5, 2007 January 14, 2008 January 24, 2008 February 7, 2008 February 25, 2008 March 12, 2008 The Commission received three proposals for the Commission's audit services and two proposals for the Measure A/TDA audit services. Selection panels for .each RFP were assembled: three representatives from the Commission and a representative from the Orange County Transportation Authority for the Commission's audit services; three representatives from the Commission and a representative from SunLine Transit Agency for the Measure A/TDA audit services. The selection panels reviewed the proposals in accordance with the criteria provided in the RFPs and the Commission's procurement procedures. After the reviews the panel recommended to interview all three firms. Agenda Item 9 35 • The RFP evaluation criteria were based on the following: Criteria Qualifications of the Consultant Staffing and Project Organization Work Plan Cost and Price Completeness of Response Commission Audit % 30% 25 % 30% 10% 5% Measure A and TDA Recipient Audit % 30% 20% 30% 15% 5% After the interviews, the panel ranked the firms as follows with an indication of the proposed audit fees for the three-year contract term: Auditing Firm McGladrey & Pullen, LLP Mayer Hoffman McCann P.C. Vavrinek, Trine, Day & Co, LLP Auditing Firm Interview Ranking 1 2 3 Commission Audit Fee $ 363,950 320,908 309,146 Interview Measure A Recipient and Ranking TDA Claimant Audit Fee Mayer Hoffman McCann P.C. 1 $ 589,218 Vavrinek, Trine, Day & Co, LLP 2 1,051,700 Upon completion of the interviews, the evaluation panels unanimously recommended selecting McGladrey and Pullen, LLP to conduct the Commission's audit and Mayer Hoffman McCann P.C. to conduct the Measure A/TDA audits for three-year contract terms with two one-year options. At this time, staff is negotiating the terms and cost with the firms and expects to bring final contracts to the Commission meeting. Additionally, after a discussion, the evaluation panels concurred that it was in the Commission's best interest to continue with the practice of separate firms responsible the Commission and the Measure A/TDA audit services. While McGladrey and Pullen, LLP's cost proposal was slightly higher than the other two firms, the evaluation criteria only weighted the cost criteria at 10% and the cost was comparable to that charged for the FY 2006/07 audit. Due to the required implementation of the new "Risk Assessment Standards" noted above, the Commission audit evaluation panel determined that the transition cost to a new firm and the impact on Commission staff resources would likely be greater than any savings in audit fees. Additionally, the Commission's current bond indenture requires us to obtain a report and opinion of a nationally recognized public accounting firm, such as McGladrey and Pullen, LLP, stating that the financial Agenda Item 9 36 statements have been prepared in accordance with generally accepted accounting principles and that such accountant's examination of the financial statements was performed in accordance with generally accepted auditing standards. Finally, McGladrey and Pullen, LLP is located in Riverside about one block from the Commission's office. Mayer Hoffman McCann P.C. proposed on both the Commission's audit and the Measure A/TDA audits. While the evaluation panels were impressed by both proposals and presentations and felt that Mayer Hoffman McCann P.C. was qualified to perform both audit services, its understanding of the scope and requirements related to the Measure A/TDA audit services was outstanding. Furthermore, its cost proposal for the Measure A/TDA audit services was comparable to the fees for the FY 2006/07 services by Caporicci and Larson. Accordingly, the evaluation panel felt that Mayer Hoffman McCann P.C. would be better utilized as the Measure A/TDA auditor. Based on the results of the evaluation process for the required audit services, staff recommends approval of these two audit firms. The FY 2007/08 budget for audit services expenditures is adequate, and no budget adjustment is required. Financial Information In Fiscal Year Budget: Yes N/A Year. FY 2007/08 FY 2008/09 + Amount: 550,000 $903,168 Source of Funds: Measure A, LTF, FSP, SAFE Budget Adjustment: No N/A GLA No.: S 19 65401 P1001 01 $363,950 S 19 65401 P1001 02 $589,218 Fiscal Procedures Approved: \14'u ;4, Dater 02/14/2008 Agenda Item 9 37 • AGENDA ITEM 10 AGENDA ITEM 10 ADDITIONAL INFORMATION MEASURE A REGIONAL ARTERIAL FUNDS REQUESTED IN CALL FOR PROJECTS PROJECTS SUBMITTED DECEMBER 17. 2007 uonars snown in mullions ® LC�'1 Project Title PLiromjectits Phase FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 Phase Total $ - __ Moreno Valley Alessandro Blvd I-215 to Frederick PA&ED PS $ .170 -=CC- $ 1.869 ---- $ 1.869 $ - $ - $ - $ - $ .0 $ 1.60600 $ 1.869 $ 3.639 $ - R/WW $ 1.600 Cons Year Total PA&ED $ - $ 1.770 $ - aa`w+4' Jvtarer a il il AA ve tip-C R/W $ 0.696 $ 0.696 emstB1 + . " 4 Its m' + - a , Cons Year Total PA&ED $ - -- $ 0.696 $ - $ 5.024 $ 5.024 $ - $ - $ - -_-_ $ - $ 5.024 $ $.720 $ - a e+�=i s t PS&E orecro 1° K. Banning Banning _t ; 4 a te-9- a to R/W $ m i"s +� °camonwoodCons Year Total PA&ED $ - 2.284 $ - $ 2.284 ------- - $ - $ - $ - $ - - $ - $ 2.284 $ 2.284 $ - Ir Grade Sep. Hathaway to Fields Rd Sunset Ave Ramsey St Extension PS&E __--- $ R/W $ Cons Year Total PA&ED -- $ - $ - $ - _----- ---- $ -- $ - $ - PS&E $ - R/W ------- $ Cans Year Total PA&ED 5--- ------- - $ - $10.000-- $ - $ 10.000 $ - $ - $ - $ 10.000 $ 10.000 $ - r ' PS&E $ 1.578 -- $ 1.578 $ Teemeculg rend\ R/W aa� San Jacinto ua1tey/I-I55 eta a+ea i Sanderson to State Cons Year Total PA&ED _-- $ - $ 0.250 $ 1.578 $ - --- $ 43.422 ---- $ 43.422. $ - $ - $ - $ - $ 43.422 $ 45.000 $ 0.250 Ramona Expressway PS&E $ 0.500 ----C- $ 0.500 R/W -�- --- $ - Cons Year Total $ 6.250 $ 0.2.50 $ 0.500 $ 6.250 - $ - $ - --- $ - $ - $ - $ 6.250 $ 7.000 San Jacinto on Lake Ramona Expressway Railroad Canyon Road State St to Main St Goetz to Wly City Limits PA&ED --. -- $ - PS&E -- $ 0.150 -- $ 0.150 R/W ----_ $ Cons Year Total PA&ED --- $ - $ - -- '. 5.650 $ 0.150 $ 5.650 -- -� $ - $ - $ - -- $ - $ 5.650 $ 5.800 $ - PS&ECany -R/W__---___-_ -_ $ Cons Year Total PA&ED $ _ $ - $ 1.000 ------ $ 4.535---�- $ 4.535 $ - $ - $ - $ - $ - $ 4.535 $ 4.535 $ 1.000 a PS&E $ 3.000 ---- $ 3.000 Ral@'oQdiS = E $ 3.000 _- -- $ 3.000 I ngfg ConJs ---- 10.000 -- $ 10.000 ll'E. Year $ 1.000 $ 3.000 $ 3.000 $ - $ 10.000 $ - $ - $ - $ 17.000 �. Total - - $Lake Interim LC_PS&E R/W _ Elsinore SR74/I-15 Improvem ents Cons $ 2.000 -- $ 2.000 Year $ 2.000 $ - $ - $ - $ - $ - $ - $ - $ 2.000 Total PA&ED $ 1_000 -- $ 1.000 Ultimate PS&E $ 3.000- $ 3.000 Lake I.C. _ R/W $ 10.000 -- $ 10.000 Elsinore SR74/I-15 Improvem _ _ _ Cons $21.000--- $ 21.000 enfs Year $ 1.000 $ 3.000 $ 10.000 $ - $ 21.000 $ - $ - $ - $ 35.000 Total PA&ED $ 0.050-- $ 0.050 California PS&E $ 1.300 $ 1.300 Hemet SR 74 Ave to R/W $ 1.400 $ 1.400 Cons--_- $2.065 $ 2.065 Calvert Ave Year $ _ $ 1.350 $ 1.400 $ - $ - $ - $ - $ 2.065 $ 4.815 Total PA&ED $ 0.080---�- $ 0.080 PS&E $ 0.932 -- $ 0.932 Riverside Van Buren Garfield to R/W $ 5.510 - ---- $ 5.510 Cons --- Blvd Jackson $ 4.922 ---- $ 4.922 Year $ 0.080 $ 6.442 $ - $ 4.922 $ - $ - $ - $ - $ 11.444 Total PA&ED $ 0.075 $ 0.075 Indiana to PS&E $ 0.625 - $ 0.625 R/W $ 4.750 $ 4.750 Riverside Van Buren Sly City Cons -� $ 6.700 $ 6.700 Blvd Limits Year $ 0.075 $ 0.625 $ 4.750 $ 6.700 $ - $ - $ - $ - $ 12.150 Total COD 5E $ 000.0E $ - $ — - $ OOO-OE $ Do0'Ol$ - $ 000 £ $ 000. E $ --_ - $ 000 l $ lo}ol"_ soot B• u0 0Ja a `t�-r" 4 1 �. -� - 10 {=�. L noD -s � 000'E $ 000•£ $ -- M/N 000 t $ 000' I $ 3'8Sd M 000'L $ 14LZ $ 144' E $ - $ - $ —_ - $ - $ - $ E44'1 $ 144- E $ 00£1 $ -- 000E $ - $ 03'8Vd Joel suoD ._ ,g 4}6 ay 0 e- W �. OUOJOg .. iS 00E' E $ ODE' l $ M/N bro- jo"d -x.-r-,,.. " ., 19040_ - $ --- 3'83d � -9 .c1 I 00_ e uoJo - $ G LOEZ $ L06.9I $ - $ - $ -- - $ - $ - $ --- L06[91 $ L06'91 $ 008'9 $ _ $ 038Vd lo}ol suoD � oaso+ �a 008'9 $ �__—�--_ 008'9 $ M/b $ 3'8Sd -0 000'1E $ $ - $ - $ - $ 0001E $ - $ - $ - $ lo}ol Joal, Pb OOlpfOo P2 s6UIJdS }oH o{awnw {aaJ}Sa}o0 SIZ-1/41PA uomo any uolOuvv J'1 St-1 adu}sab Puo uapM pa s6u4S40H o{awnw g'{x] u6isa0 anadwl/{ anJ}suooay oJpuossaly o} uo{3ooJ8 pUOJO0 o{awnw o{awnw olawnw aplsJanly $ CC.... 3'8Sd - $------- E44'£ $ L64'Z $ - $ -- - $ - $ - $ -- - $ - $ OIr£ $ L64Z $ EE£$0 $ - "— -- 03'8Vd o{ol JOG), suoD "—M/- £19'0 $ ----- £E9'0 $ SLZ'0 $ _---- 3LZ'0 $ 3'8Sd 930'0 $ Lao £ $ LIOZ $ _---- - $ - $ - $ — - $ - $ L IOZ $ LEOZ $ 69L0 $ -- 930'0 $ E9Z 0 $ 03'8Vd lolol Joa,, su00 68C0 $ 68[0 $ M/8 L4Z-0 $ --_ L4Z'0 $ 31?Sd 4£0'0 $.— 000'0E $ 001"L $ - $ - $ ---� -. $ - $ - $ - $ 001.'L $ 00LL $ KO $ 0067, $ 03'8Vd In}ol Joa,t suop S31'Z $ SSIZ $ M/8 DECO $ OILO $ 3'Hd 3E0'0 $ OS9Z $ 0$9"5" $ - $ - $ - $ —OS9 0995 $ S$ - $ --- -- 039l $ OSS-O $ 3£0'0 $ - $ 03'8Vd lo}oy JOG,[ suoD 039" I $ —_-- 039' 1 $ -- MRl 003'0 $ ——� OOS'0 $ 3'8Sd 030'0 $ --- 030'0 $ 03VVd County of Riverside-215 Cajalco Rd Temescal Canyon to PA&ED $ 1.000 -- --- $ 1.000 PS&E -- -�-- $ - R/W - $ 25.000 $ 25.000 Cons Year Total PA&ED -- $ 1.000 $ - $ 25.000 _ $65.585-. $ - $ 65.585 $ - $ - $ - $ 65.585 $ 91.585 $ - `'� PounyRd PS&E -------- $ oCaurt,< SRT9, it R/W -------- $ of £ Rivers.en hhes�texitd Damenigo- ae,' Cons - '• 24.000 ------ $ 24.000 --c- �: N P , Year Total $ - $ 24.000 $ - $ - $ - $ - $ - $ - $ 24.000 PA&ED $ 0.800 $ 0.800 Coun i:k+arrBurenp s 3 m PS&E R/W _$ _0.600 $6.000 _ _ $ $ 0.600 $ 6.000 44, R erside; fid " }a= •' Cons Year --- -- $13.800 $ 13.800 ' Total $ 0.800 $ - $ 0.600 $ - $ 6.000 $ - $ 13.800 $ - $ 21.200 PA&ED -- _--- $ - County Perris City PS&E -------_ $ - R/W -� $ 10.000---- $ 10.000 of Ramona Limits to Cons Riverside Expressway t,Y,arren Rd 13.000-- $ 13.000 Year - $ 10.000 $ - $ - $ 13.000 $ - $ - $ 23.000 Total PA&ED -------- $ - County PS&E -------- $ R/W ------ $ - of Newport Interchang Cons Riverside Rd/I-215 e 10.000 ---- $ 10.000 Year $ _ $ - $ - $ 10.000 $ - $ - $ - $ - $ 10.000 Total PA&ED ------ $ - County PS&E ---�-- $ R/W of Van Buren Interchang -- -- $ - Cons -- $ 39.000 ---- $ 39.000 Riverside Blvd/ 1-215 e Year $ - $ - $ _ $ 39.000 $ - $ - $ - $ - $ 39.000 Total PA&ED ---- $ - n PS&E -------- $ o 1 15 215 R/W $ 4.000 - ---- $ 4.000 andyon/Sc Y Rtverr. at d e ^w ' Cons -- $ 21.000 ---- $ 21.000 �: -_ •" Year Total $ $ 4.000 $ - $ 21.000 $ - $ - $ - $ - $ 25.000 _,'; PA&ED --- -_-- $ - County PS&E ---C---- $ R/W $ 3.000 -- -- $ 3.000 of Scott Rd/I- Interchang Cons -- $ 25.000 -- $ 25.000 Riverside 215 e Year $ - $ 3.000 $ - $ 25.000 $ - $ - $ $ - $ 28.000 Total County of Van Buren Blvd/Jurup Grade Separation PA&ED PS&E $ 0.400 $ 3.000 $ 0.400 $ 3.000 R/W $ 23.600 $ 23.600 Cons Year Total PD ------ $ 0.400 $ - $ $ 26.600 $ - $ - $ - $ - $ - $ - $ 27.000 x r r BBC'®tn,: PS&E ---$1.000--- $ 1.000 ®u1y of R'faeCyra R/W $S.000--- $ 5.000 IR eX , s a to i Heacoc :.'- Cons ----- $30.910 $ 30.910 • Riverside w s., w • - *. r ,,,. , ..., Year Total $ - $ 2.200 $ - - - $ $ 6.000 $ $ 30.910 $ - $ 39.110 PA&ED $ 2.000 ------ $ 2.000 County SR60 to PS&E --- $ 2.000 -- $ 2.000 R/W --- $5.000- $ 5.000 of Van Buren Santa Ana Cons ---_ $42.000 _ $ 42.000 Riverside Blvd River Year $ - $ 2.000 $ - $ 2.000 $ 5.000 $ 42.000 $ - $ - $ 51.000 Total PA&ED -i--- --- $ - Ramona I.C. PS&E $ 1.000 -- -- $ 1.000 R/W -� -- $ - Perris Expressway Improvem Cons $ 7.000 - -- $ 7.000 /I-215 ents Year $ 1.000 $ - $ 7.000 $ - $ - $ - $ - $ - $ 8.000 Total PA&ED $ 5.730 $ 4.300 $ • $ $ - $ - $ - $ - $ 10.030 PS&E $ 2.232 $11.605 $ 4.750 $ 2.000 $ 1.000 $ - $ - $ - $ 21.587 TOTAL FUNDS REQUESTED R/W $ 2.155 $24.308 $ 79.400 $ 3.000 $ 16.000 $ - $ - $ - $ 124.863 Cons $ 2.000 $ 33.597 $ 40.434 $193.587 $112.235 $ 65.000 $ 44.710 $ 2.065 $ 493.628 Year $ 12.117 $ 73.810 $124.584 $198.587 $129.225 $ 65,000 $ 44.710 $ 2.065 $ 650.108 Total pbb1/27/08 Projects also funded in Part with TUMF Funds in RCTC Regional Arterial Program RIVERS/DE COUNTY TRANSPORTATION COMMISSION DATE: February 25, 2008 TO: Budget and Implementation Committee FROM: Shirley Medina, Program Manager THROUGH: Anne Mayer, Executive Director SUBJECT: Measure A Western County Regional Arterial Call for Projects STAFF RECOMMENDATION: This item is for the Committee to: 1) Receive and file the status of Measure A Western County Regional Arterial call for projects; and 2) Forward to the Commission for final action. BACKGROUND INFORMATION: Staff will present a verbal presentation on the status of the Measure A Western County Regional Arterial call for projects. Agenda Item 10 38 AGENDA ITEM 11 RIVERSIDE COUNTY TRANSPORTATION COMM/SS/ON DATE: February 25, 2008 TO: Budget and Implementation Committee FROM: Shirley Medina, Program Manager THROUGH: Anne Mayer, Executive Director SUBJECT: City of Corona Transportation Uniform Mitigation Fee Programming Request for Additional Funding for the Foothill Parkway Extension Project from Paseo Grande to Lincoln Avenue STAFF RECOMMENDATION: This item is for the Committee to: 1) Approve the city of Corona's request to increase the Transportation Uniform Mitigation Fee (TUMF) Regional Arterial funds for the right-of-way phase on the Foothill Parkway extension project from $2 million to $1 2 million; 2) Approve an increase for expenditures of $10 million in the FY 2007/08 budget; 3) Amend the TUMF agreement; and 4) Forward to the Commission for final action. BACKGROUND INFORMATION: The Commission currently has an agreement with the city of Corona (City) to provide $2 million in TUMF Regional Arterial program funds for the right-of-way phase on the _Foothill Parkway extension project from Paseo Grande to Lincoln Avenue. An additional $17.282 million was approved for construction, but not programmed. When the Commission approved the TUMF Regional Arterial program, the majority of TUMF programming was for pre -construction activities with a first come, first serve requirement for agencies to request construction programming when projects are ready to begin construction. The cost of right-of-way for the Foothill Parkway extension project has increased significantly and the City is requesting the Commission to increase the amount of TUMF funding for the right-of-way phase from $2 million to $12 million by moving $10 million from the construction phase to the right-of-way phase. The amount identified in the original request for the construction phase is $17.282 million. The request does not increase funding for the project and the City will be required to use additional local and/or other funds to complete the construction phase. This Agenda Item 11 39 request is consistent with current policy and staff recommends support of the City's programming request. Financial Information In Fiscal Year Budget: No Year: FY 2007/08 Amount: $10,000,000 Source of Funds: TUMF Regional Arterial Budget Ad ustment: Yes GLA No.: 210 72 81401 P5102 Fiscal Procedures Approved: \p sium Date: 02/19/2008 Attachment: City of Corona TUMF Amendment Request — Foothill Parkway Extension Agenda Item 11 40 OFFICE OF: PUBLIC WORKS (951)736-2236 (951) 279-3627 (FAX) AmadQ@ci.corona.ca.us November 20, 2007 82326 AM, SM 400 SOUTH VICENTIA AVENUE, P.O. BOX 940, CORONA, CALIFORNIA 92878-0940 CORONA CITY HALL - ONLINE, ALL THE TIME (hrip:f/ci.corona.ca.us) Anne Mayer RCTC Executive Director 4080 Lemon St. 3rd Floor Riverside CA 92502 ATTENTION: Shirley Medina p©FMnErn) NOY 2 72007 RIVERSIDE COUNTY TRANSPORTATION COMMISSION SUBJECT: Request for Transfer and Advancement of TUMF Regional Arterial Funds from Construction to Right -of -Way for Foothill Parkway Extension. Dear Anne: We would like to request a transfer and advancement of our TUMF construction funds to Right -of -Way for our Foothill Parkway Extension project. On November 2, 2005, the City of Corona executed an agreement with RCTC (agreement 06- 72-540) for the Foothill Parkway Extension Project. This agreement was for engineering design and right of way purchase. The amount of our agreement was $4 million ($2 million for PS&E and $2 million for RNV) matched by $4 million in local funds ($500 thousand for PS&E and $3.5 million for RNV). The agreement also identified an additional $17.282 million for construction that was to be programmed in a future year. The City of Corona is now at a point where the design is nearing completion and the right of way purchase is critical for the project to move forward. However, the right of way purchase has exceeded our original estimate of $5.5 million. We are therefore requesting that $10 million of the construction funds be transferred to the right of way phase for this project and be programmed for fiscal year 07108. We understand that the construction funds will be reduced to $7.282 million for this project. Based on your approval, we will process the necessary amendment to our agreement as soon as possible. We look forward to working with RCTC on this request and thank you in advance for your cons' s eration. 5 rely, A E7. Oattan, P.E. Public Works Director 41 AGENDA ITEM 12 CALIFORNIA LEGISLATURE-2007-08 REGULAR SESSION ASSEMBLY BILL No. 1954 Introduced by Assembly Member Jeffries February 13, 2008 An act relating to transportation. LEGISLATIVE COUNSEL'S DIGEST AB 1954, as introduced, Jeffries. High -occupancy toll (HOT) lanes. Existing law authorizes a regional transportation agency, in cooperation with the Department of Transportation, to apply to the Califomia Transportation Commission to develop and operate high -occupancy toll (HOT) lanes, including administration and operation of a value pricing program and exclusive or preferential lane facilities for public transit. Existing law requires the commission to review these applications and submit an eligible application to the Legislature for approval or rejection. Existing law requires approval to be achieved by enactment of a statute. Existing law prohibits approval of an application on or after January 1, 2012. This bill would authorize a value pricing and transit development demonstration program involving HOT lanes to be conducted, administered, and operated on transportation corridors in Riverside County. Vote: majority. Appropriation: no. Fiscal committee: yes. State -mandated local program: no. The people of the State of California do enact as follows: 1 SECTION 1. Pursuant to Section 149.7 of the Streets and 2 Highways Code, the Legislature hereby authorizes a value pricing 99 AB 1954 — 2 — I and transit development demonstration program involving 2 high -occupancy toll (HOT) lanes to be conducted, administered, 3 and operated on transportation corridors in Riverside County. O 99 SENATE BILL No. 1316 Introduced by Senator Correa (Coauthors: Assembly Members Benoit and Spitzer) February 20, 2008 An act to amend Section 130240 of, and to add Sections 130244 and 130245 to, the Public Utilities Code, relating to transportation. LEGISLATIVE COUNSEL'S DIGEST SB 1316, as introduced, Correa. Transportation facilities: tolls: Orange and Riverside Counties. Existing law provides for the Orange County Transportation Authority to assume responsibility for a toll lane on State Highway Route 91 in Orange and Riverside Counties under an assignment of a franchise agreement between the Department of Transportation and a private toll road operator. Existing law authorizes the authority to issue bonds and impose tolls relative to this toll lane, but not to extend beyond 2030, at which point the toll lane would revert to the department. Existing law requires toll revenues from the toll lane to be used for capital and operating expenses of the toll lane, including debt service, and for transportation purposes related to State Highway Route 91. Existing law creates an advisory committee to make recommendations to the authority regarding the toll lane and related issues. This bill would authorize the Orange County Transportation Authority to eliminate its rights, interests, and obligations in the Riverside County portion of the State Highway Route 91 toll lane by partial assignment to the Riverside County Transportation Commission or by amendment to the franchise agreement. The bill would delete the 2030 limitation on issuance of bonds and collection of tolls, and would provide for the reversion of the portion of the toll lane under the authority's control from the authority to the department at the expiration of the franchise 99 SB 1316 — 2 — agreement. The bill would authorize toll revenues to be used for transportation purposes in the State Highway Route 91 Corridor, defined to mean the area within an unspecified number of miles of the toll lane. This bill would authorize the Riverside County Transportation Commission to impose tolls for 50 years on a toll lane on its portion of State Highway Route 91, subject to extension beyond that time if reauthorized by the Legislature, and would authorize toll revenues to be used for capital and operating expenses of the toll lane, including debt service, and for transportation purposes in the SR 91 Corridor, defined to mean the area within an unspecified number of miles of the Riverside County portion of the toll lane extending east to State Highway Route 215. The bill would authorize the commission, or a nonprofit corporation on the commission's behalf, to issue bonds for transportation facilities within that corridor. The bill would require reversion of the toll lane to the department after bonds are repaid unless tolls have been reauthorized by the Legislature. The bill would enact alternative provisions to current law governing the payment bonds that the commission is to obtain for projects undertaken pursuant to these provisions. The bill would state that the commission is not entitled to compensation for the adverse effects on toll revenues from construction of competing facilities within the SR 91 Corridor by the department or a local agency. These and other related provisions would only apply if the responsibility for the Riverside County portion of the current Route 91 toll lane is transferred from the authority to the commission. The bill would delete the requirement for the existing State Highway Route 91 advisory committee and instead create a new advisory committee, with specified responsibilities. Members would be appointed by both the Orange County Transportation Authority and the Riverside County Transportation Commission, with costs of the committee to be shared by both entities. The bill would also require both entities to conduct an annual audit of toll revenues and expenditures. The bill would thereby impose a state -mandated local program. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that, if the Commission on State Mandates determines that the bill contains costs mandated by the state, reimbursement for those costs shall be made pursuant to these statutory provisions. 99 -3 — SB 1316 Vote: majority. Appropriation: no. Fiscal committee: yes. State -mandated local program: yes. The people of the State of California do enact as follows: . 1 SECTION 1. Section 130240 of the Public Utilities Code is 2 amended to read: 3 130240. (a) "Transit" means as defined in Section 40005. 4 (b) (1) The Orange County Transportation Authority may 5 acquire, construct, develop, lease, jointly develop, own, operate, 6 maintain, control, use, jointly use, or dispose of rights -of -way, rail 7 lines, monorails, guideways, buslines, stations, platforms, switches, 8 yards, terminals, parking lots, air rights, land rights, development 9 rights, entrances and exits, and any and all other facilities for, 10 incidental to, necessary for, or convenient for transit service, 11 including, but not limited to, facilities and structures physically or 12 functionally related to transit service, within or partly without the 13 county, underground, upon, or above the ground and under, upon 14 or over public streets, highways, bridges, or other public ways or 15 waterways, together with all physical structures necessary for, 16 incidental to, or convenient for the access of persons and vehicles 17 thereto, and may acquire, lease, sell, or otherwise contract with 18 respect to any interest in or rights to the use or joint use of any or 19 all of the foregoing. However, installations on state freeways are 20 subject to the approval of the Department of Transportation and 21 installations in other state highways are subject to Article 2 22 (commencing with Section 670) of Chapter 3 of Division 1 of the 23 Streets and Highways Code. 24 (2) With respect to the segment of State Highway Route 91 25 between Interstate State Highway Route 15 and State Highway 26 Route 55 only, the Orange County Transportation Authority may 27 exercise all of the powers contained in paragraph (1) that apply to 28 streets, highways, bridges, and connector roads. 29 (3) The exercise of the powers provided to the Orange County 30 Transportation Authority in paragraph (2) is subject to approval 31 by the Board of Supervisors of Riverside County and the Riverside 32 County Transportation Commission and in consultation with the 33 advisory committee described in paragraph (1) of subdivision (h) 34 as it relates to the use of those powers in Riverside County under 35 the terms of the franchise agreement described in subdivision (c). 99 SB 1316 —4- 1 (c) If the Orange County Transportation Authority requests, the 2 department shall approve the assignment to the Orange County 3 Transportation Authority of the Amended and Restated 4 Development Franchise Agreement, as amended, between the 5 department and the California Private Transportation Company, 6 L.P. (CPTC) for the State Highway Route 91 median improvements 7 as authorized by Section 143 of the Streets and Highways Code, 8 subject to the requirement that subdivisions (a) to (0, inclusive, 9 of Section 2 of Article 3 of the restated franchise agreement be 10 deleted in their entirety in the event that CPTC and the authority 11 agree to the assignment of all of CPTC's interests in the franchise 12 agreement to the authority. 13 (d) The Orange County Transportation Authority shall have the 14 authority to impose tolls for use of the State Highway Route 91 15 facilities as authorized by the franchise agreement. " ``ems he bonds 16 17 , 18 19 20 21 Route 55. 22 (e) Toll revenues from the use of State Highway Route 91 23 facilities 24 Routc 55 shall only be used by the Orange County Transportation 25 Authority for capital and operating expenses, including payment 26 of purchase costs, debt service, and satisfaction of other covenants 27 and obligations relating to indebtedness, and for purposes related 28 to, or necessary for, transportation rclatcd to in the State Highway 29 Route 91 Corridor, which shall mean the area within miles 30 of State Highway Route 91 between Interstate State Highway Route 31 15 and State Highway Rout 32 to July 1, 2003-, the 55. The Orange County Transportation 33 Authority, in consultation with the department and the Riverside 34 County Transportation Commission, shall issue a plan and a 35 proposed completion schedule for -the transportation improvements 36 on in the State Highway Route 91 37 Routc 15 and Statc IIighway Routc 55 Corridor. The Orange 38 County Transportation Authority shall update the plan on an annual 39 basis 40 completed. 99 — 5 — SB 1316 1 (f) The Orange County Transportation Authority may incur 2 indebtedness and obligations, and may issue bonds, refund bonds, 3 and assume existing bonds for purposes authorized by this section 4 for-aTeried--riot. Indebtedness and 5 bonds issued under this section do not constitute a debt or liability 6 of the state or any other public agency, other than the authority, 7 or a pledge of the faith and credit of the state or any other public 8 agency, other than the authority. Bonds issued under this section 9 shall not be deemed to constitute a debt or liability of the state or 10 any political subdivision thereof, other than the bank and the 11 authority, or a pledge of the faith and credit of the state or of any 12 political subdivision, but shall be payable solely from the revenues 13 and assets pledged to the repayment of the bonds. All bonds issued 14 under this section shall contain on the face of the bond a statement 15 to the same effect. 16 (g) Notwithstanding Section 143 of the Streets and Highways 17 Code, the State Highway Route 91 facility constructed and operated 18 under the authority of a franchise agreement approved pursuant 19 to that section shall revert to the state at the expiration of the lease 20 or termination of the franchise agreement at no cost to the state. 21 22 23 Authority rega 24 ^nci-T c: n, ciumn�taiFs imnn4era «� 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 highways. The c (A) rive members of the board of directors of the Orange fibers: Orangentuanvofttiete 99 SB 1316 I 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 —6— (3) The Orang committee. (4) (h) The Orange County Transportation Authority shall not impose tolls for the use of nor construct and operate State Highway Route 91 facilities in the County of Riverside without prior approval by the Board of Supervisors of the County of Riverside, the Riverside County Transportation Commission, and the advisory committee. (i) The Orange County Transportation Authority shall not sell or assign its interest in the franchise agreement without approval by the Legislature by enactment of a statute provided that approval shall not be required in connection with granting rights and remedies to lenders under Article 16 of the restated franchise agreement. (k) After 0) Upon expiration ofth 28 occurs earlier, franchise agreement, that segment of State Highway 29 Route 91 between Interstate State Highway Route 15 and State 30 Highway Route 55 shall revert to the department. 31 (I) In the event that 32 (k) If the Orange County Transportation Authority decides to 33 sell or assign its interest in the franchise agreement, the Orange 34 County Transportation Authority shall provide written notice at 35 least 90 days in advance of the date they submit their request for 36 approval by the department pursuant to this subdivision. The 37 written notice shall be provided to the advisory committee created 38 pursuant to Section 130245 and the Riverside County 39 Transportation Commission. 99 -7— SB 1316 1 (1) The Orange County Transportation Authority shall be 2 authorized to eliminate its rights, interests, and obligations relative 3 to State Highway Route 91 in Riverside County, either by partial 4 assignment to the Riverside County Transportation Commission, 5 or by amendment to the restated franchise agreement, as amended. 6 In the event ofa partial assignment or amendment, the department 7 shall consent and the term of the restated franchise agreement, as 8 amended by the partial assignment or amendment, shall be 9 extended to a date determined by the authority, which date shall 10 be no later than December 31, 2065. 11 (m) If the Riverside County Transportation Commission 12 constructs and operates toll facilities on State Highway Route 91 13 between the Orange County border and State Highway Route 15, 14 then it is the intent of the Legislature that the Riverside County 15 Transportation Commission and the Orange County Transportation 16 Authority enter into an agreement pmviding for the coordination 17 of the respective toll facilities operated by each entity on State 18 Highway Route 91. I SEC. 2. Section 130244 is added to the Public Utilities Code, 20 to read: 21 130244. (a) For the purposes of this section, the following 22 terms shall have the following meanings: 23 (1) "Authority" means the Orange County Transportation 24 Authority. 25 (2) "Bonds" means bonds, notes, or other evidences of 26 indebtedness authorized to be issued pursuant to paragraph (2) of 27 subdivision (b). 28 (3) "Commission" means the Riverside County Transportation 29 Commission. 30 (4) "Department" means the Department of Transportation. 31 (5) "Franchise agreement" means the franchise agreement 32 assigned to the authority pursuant to subdivision (c) of Section 33 130240. 34 (6) "SR 91 Corridor" means the area within miles of State 35 Highway Route 91 between State Highway Route 215 and State 36 Highway Route 55. 37 (7) "Transportation facilities" means one or more of the 38 following: (A) general purpose toll lanes; (B) lanes or facilities 39 where the tolls may be levied and may vary according to levels of 40 congestion anticipated or experienced or according to the 99 SB 1316 —8- 1 occupancy of the vehicle; (C) facilities or lanes utilizing 2 combinations of or variations on (A) or (B), or other strategies the 3 commission may determine appropriate on a facility -by -facility 4 basis; and (D) nontolled facilities, structures, onramps, connector 5 roads, bridges, and roadways that are incidental to, related to, or 6 desirable for the design, construction, operation, maintenance, or 7 financing of any of the items in (A), (B), or (C). 8 (8) "Transportation project" means the planning, design, 9 development, financing, construction, reconstruction, rehabilitation, 10 improvement, acquisition, lease, operation, or maintenance, or any 11 combination of these, with respect to transportation facilities within 12 the SR 91 Corridor between the border of Orange and Riverside 13 Counties to the west and State Highway Route 215 to the east. 14 (b) Pursuant to subdivision (m) of Section 130240, the authority 15 may amend, assign, or terminate the Riverside County portion of 16 the franchise agreement in the interest of advancing the 17 transportation project described in paragraph (8) of subdivision 18 (a). The department, upon request of the authority, shall approve 19 an amendment to the franchise agreement to eliminate any portion 20 of the SR 91 Corridor within Riverside County from the franchise 21 agreement. 22 (c) (1) The commission shall have the authority to set, levy, 23 and collect tolls, user fees, or other similar charges payable for 24 use of the transportation project, and any other incidental or related 25 fees or charges, in amounts as required to (A) pay capital costs 26 (including, but not limited to, design, construction, right-of-way 27 acquisition, and utility adjustment costs), operations and 28 maintenance costs (including, but not limited to, toll collection, 29 operation, and administration costs), and rehabilitation, repair, 30 expansion, and upgrade costs, (B) repay indebtedness incurred as 31 a result of or relating to the transportation project and related 32 financing costs, including, but not limited to, indebtedness 33 authorized pursuant to paragraph (2), (C) establish reserves, (D) 34 pay for the commission's administration of the transportation 35 project, including the toll system and toll enforcement costs, and 36 (E) pay for any other transportation purposes that the commission 37 is otherwise authorized to pay for or to contribute funds to within 38 the SR 91 Corridor. 39 (2) The commission, or a nonprofit public benefit corporation 40 formed on behalf of the commission, is authorized to issue bonds 99 — 9 — SB 1316 1 to finance the costs of the transportation project, including the 2 costs of issuing the bonds and paying credit enhancement and other 3 fees related to the bonds, which bonds are payable from the tolls 4 authorized pursuant to paragraph (1), sales tax revenues, 5 development impact fees, state and federal grant funds, or any 6 other source of revenues available to the commission that may be 7 used for these purposes. The bonds may be sold pursuant to the 8 terms and conditions set forth in a resolution adopted by the 9 governing board of the commission. 10 (3) The department is authorized to enter into any lease, 11 easement, permit, or other agreement with the commission 12 necessary to accomplish the purposes of this section. 13 (4) The commission shall have the authority to impose tolls for 14 use of the transportation project for 50 years following the opening 15 of the transportation project for public use, after which the 16 commission shall have no further authority to impose or to collect 17 a toll for use of the transportation project, unless reauthorized by 18 the Legislature. The transportation project shall revert to the 19 department after the bonds issued pursuant to this section are paid 20 off in their entirety, unless tolls have been reauthorized by the 21 Legislature. 22 (d) Transportation projects developed pursuant to this section 23 shall be considered a public work project for purposes of Section 24 3109 of the Civil Code. Notwithstanding anything to the contrary 25 in subdivision (a) of Section 3247 of the Civil Code, the payment 26 bond required under that subdivision may be obtained from the 27 entity with primary responsibility for construction, even though 28 that entity may not have a direct contractual relationship with the 29 commission, and, if the executive director of the commission 30 determines that it is impracticable to obtain a 100 percent bond, 31 the payment bond amount may be reduced to an amount determined 32 sufficient by the executive director to protect the interests of the 33 commission and the persons identified in subdivision (b) of Section 34 3247 of the Civil Code. 35 (e) This section shall be supplemental and in addition to any 36 other authority of the commission to undertake the transportation 37 project. The commission may procure services, award and enter 38 into agreements, and administer tolls, user fees, and revenues as 39 authorized in this section notwithstanding any other requirement 40 of state law or regulation or county ordinance or regulation relating 99 SB 1316 —10- 1 to public bidding or other procurement procedures or other 2 provisions otherwise applicable to public works, services, or 3utilities. 4 (f) This section shall not prevent the department or any local 5 agency from constructing facilities within the SR 91 Corridor that 6 compete with the transportation project, and in no event shall the 7 commission be entitled to compensation for the adverse effects on 8 toIl revenues due to those facilities. 9 (g) If any provision of this section or the application thereof is 10 held invalid, that invalidity shall not affect other provisions or 11 applications of this section that can be given effect without the 12 invalid provision or application, and to this extent the provisions 13 of this section are severable. 14 (h) This section shall not apply to State Highway Route 91 15 between the Orange County border and State Highway Route 215 16 unless the authority amends or partially assigns the restated 17 franchise agreement, as amended, between the department and the 18 authority to exclude that portion of State Highway Route 91 from 19 the restated franchise agreement, as amended. 20 SEC. 3. Section 130245 is added to the Public Utilities Code, 21 to read: 22 130245. (a) An advisory committee shall be created to review 23 issues and make recommendations to the Orange County 24 Transportation Authority and the Riverside County Transportation 25 Commission regarding the facilities authorized pursuant to Sections 26 130240 and 130244, including tolls imposed, operations, 27 maintenance, interoperability, and use of toll revenues, and 28 improvements in the SR 91 Corridor as defined in paragraph (6) 29 of subdivision (a) of Section 130244, including the identification 30 and siting of alternative highways. The committee shall consist of 31 10 voting members and three nonvoting members, as follows: 32 (1) Five members of the Board of Directors of the Orange 33 County Transportation Authority appointed by that board. 34 (2) Five members of the Riverside County Transportation 35 Commission appointed by that commission. 36 (3) One member of the San Bernardino Associated Governments 37 appointed by that body, and the district directors of Districts 8 and 38 12 of the Department of Transportation, all of whom shall be 39 nonvoting members. 99 — I I — SB 1316 1 (b) The advisory committee shall establish rules for the conduct 2 of committee meetings, which rules shall be approved by both the 3 Orange County Transportation Authority and the Riverside County 4 Transportation Commission. The authority and the commission 5 may appoint alternates to the committee. 6 (c) When reviewing the initial toll structure proposed by the 7 Orange County Transportation Authority and the Riverside County 8 Transportation Commission or any changes to the toll structure, 9 the advisory committee shall place an information item on a 10 regularly scheduled agenda for public comment and consideration 11 of the advisory committee. 12 (d) The Orange County Transportation Authority shall conduct 13 an audit on an annual basis of the toil revenues collected and 14 expenditures made during its operation of the facilities authorized 15 in Section 130240. The audit shall review revenues and 16 expenditures related to those facilities for consistency with that 17 section and shall be provided to the advisory committee. 18 (e) The Riverside County Transportation Commission shall 19 conduct an audit on an annual basis of the toll revenues collected 20 and expenditures made during its operation of the facilities 21 authorized in Section 130244. The audit shall review revenues and 22 expenditures related to those facilities for consistency with that 23 section and shall be provided to the advisory committee. 24 (f) The Orange County Transportation Authority and the 25 Riverside County Transportation Commission shall equally share 26 all costs associated with this section. 27 SEC. 4. If the Commission on State Mandates determines that 28 this act contains costs mandated by the state, reimbursement to 29 local agencies and school districts for those costs shall be made 30 pursuant to Part 7 (commencing with Section 17500) of Division 31 4 of Title 2 of the Government Code. O 99 RIVERS/DE COUNTY TRANSPORTATION COMMISSION DATE: February 25, 2008 TO: Budget and Implementation Committee FROM: Aaron Hake, Program Manager THROUGH: John Standiford, Deputy Executive Director SUBJECT: State Legislative Update STAFF RECOMMENDATION: This item is for the Committee to: 1) Receive and file the State Legislative Update; and 2) Forward to the Commission for final action. BACKGROUND INFORMATION: State Legislative Update Assemblyman Kevin Jeffries Introduces Assembly Bill 1954 on Behalf of the Commission One major component of the Commission's 2008 legislative program was set in motion on February 13 by local Assemblyman Kevin Jeffries. Assemblyman Jeffries introduced Assembly Bill 1954, which proposes to authorize a high occupancy toll (HOT) demonstration program in Riverside County. The intent of the bill is to allow the Commission to implement its plans for constructing two HOT lanes in the median of Interstate 15 from the San Bernardino County line to State Route 74 in Lake Elsinore. The Commission is seeking to occupy one of two slots available in existing Southern California for HOT lane authority, which was created by Speaker Fabian ' Nunez in. 2006. In order to qualify for this authority, the 1-15 HOT lane project must be deemed eligible under the statutes of the Speaker's pilot program by the California Transportation Commission (CTC) and subsequently ratified by the Legislature. The CTC is reviewing the Commission's application for the 1-15 project and is expected to announce the eligibility finding within the next few weeks. Following two public hearings on the project (likely in March), focus will then shift to AB 1954 as the legislative vehicle that will represent the Legislature's approval of 1-15 as one of the Southern California HOT lane projects authorized by the Speaker's 2006 bill. Agenda Item 12 42 The Commission will continue to work closely with Assembly and Senate leadership on navigating the 1-15 project through the Legislature and fulfilling the intent of the HOT lane pilot program. The Commission also wishes to thank Assemblyman Jeffries for authoring AB 1954 and supporting the Commission's efforts to improve mobility on the 1-15 corridor. Any Commissioners traveling to Sacramento in the near future are encouraged to contact Assemblyman Jeffries, members of the Inland Empire delegation, and Assembly leadership to express the importance of moving the 1-15 project forward. Notably, the 1-15 project has already received vocal support from the Automobile Club of Southern California (AAA) and the Corona and Riverside Chambers of Commerce. The Commission and Orange County Transportation Authority Jointly Sponsor Legislation to Widen State Route 91 Continuing the strong relationship between Riverside and Orange Counties, the Commission and Orange County Transportation Authority (OCTA) are co -sponsoring legislation by Senator Lou Correa (D-Santa Ana) to authorize improvements to SR-91 on both sides of the county line. Commissioners Jeff Miller, John Tavaglione and Vice Chair Bob Magee have worked closely with OCTA Directors Curt Pringle, Bill Campbell, and Carolyn Cavecche to craft a bill that mutually benefits both counties and all commuters on this heavily congested corridor. Senator Correa's leadership and expertise from carrying AB 1010 back in 2002 when OCTA purchased the SR-91 Express Lanes will be an asset to both agencies as the bill proceeds through the Legislature. The bill makes amendments to AB 1010, which allow the Commission to develop its planned extension of the SR-91 Express Lanes while maintaining the public interest protections that were crucial in transferring the original express lane franchise out of private ownership. The bill authorizes the Commission to develop the express lanes extension under public ownership and operation and in compliance with all Caltrans and Federal Highway Administration standards for design, construction, inspection and operation. "Non -compete" clauses in any agreement regarding the lanes are expressly prohibited in the bill. Toll revenues are required to be used to repay bonds issued by the Commission .to finance the project; excess revenues generated by the toll facility will be required to be reinvested in improvements to the SR-91 corridor. In drafting the bill language, both agencies and the author have placed a premium on ensuring accountability and public benefit. Agenda Item 12 43 • • Additionally, the bill allows OCTA to use excess toll revenues to construct a direct - connector from the existing SR-91 Express Lanes to the SR-241 toll road. Currently, commuters must chose between the SR-91 Express Lanes and SR-241, causing many commuters heading to and from south Orange County to endure heavy congestion in the mainline of SR-91. OCTA's proposed project would allow seamless transition between both toll facilities and further reduce congestion on the mainline of SR-91 . Also, the bill extends the term of the franchise to match the 50-year length of the Commission's tolling authority. The purpose of this amendment is to allow both counties' toll roads to connect seamlessly without one half creating a horrendous bottleneck when the OCTA term reverts to general purpose lanes in 2030. Further, the extended term allows OCTA to finance the direct connector between the SR-91 Express Lanes to SR-241 and other major corridor improvements. Commission staff ,has been working with OCTA and Senator Correa to gather a broad coalition of support for the SR-91 project. SR-91 has one of the worst levels of congestion in California and one lane in each direction provided by Measure A by 2039 is simply not enough to address the challenges of that freeway. New capacity under public ownership financed by user fees is the only way to go above and beyond what is currently planned for this vital corridor. Again, Commissioners ' visiting Sacramento are encouraged to solicit support among members of the Legislature and other key associations and groups for the SR-91 project. Other Transportation Bills Introduced February 22 was the deadline for all new bills to be introduced in Sacramento; most bills will not receive a hearing until mid -to -late March, and by then many of them will be substantially amended before they are considered by committees. Therefore, as the Commision staff focuses on its two toll -related bills and the Trade Corridor Improvement Fund (TCIF), staff will return in the next board cycle with a complete analysis of other transportation bills introduced by members of the Legislature. Agenda Item 12 44